 What's up everyone? September 21st 2020 back again for a large gap planning ahead Webinar here. All right, so pre-market really the attention here is is Everybody's got eyes on NKLA CEO Trevor Milton stepped down He did some shady shit Now hopefully the company's headed in the right direction, but I do think they have a lot of things to answer for Still I don't think they're out of the woods by any means Because I mean just for the simple fact that whoa The simple fact that there is way too much shit on my charts right now or the simple fact that Go American Airlines There's just so many people under water with NKLA All right, let's let's just kind of zoom out here. Remember over here. This was VTI Q and so now Every person that bought the NKLA merger is underwater, okay They they're pretty much underwater or breaking even at best So There is It's bad it's bad news in the interim I do think that there's a lot of short interest here But with that said, you know, this is this is not something that you you need to you need to start going long because I mean there's no trend sign There's no sign of a bounce yet and so just be careful on the sides of NKLA. It's down a lot and so Since it's down a lot that doesn't make it the best short It's kind of like if you're shorting that if you're shorting this now I'm I'm gonna just kind of say you're probably gonna be late to the party and it's gonna chop around and Not really be a good trader. So I'm not really convinced NKLA is anything to really mess with Overall market this is probably where everybody's attention is so the overall market is Gapping down quite a bit. We're at 1.6 percent Roughly 2 percent almost which is pretty much like that's the juice normally This 320 level is very key 320 320 and And 320 and then 300 that's that's pretty much that's pretty much it now From a technical standpoint I'm bullish off of the open for a bounce for this for this fill back to 330 I'm bullish on that scenario. I don't think that the market is just going to continue to sell granted We are looking at a lot of selling and I See a lot of people getting more aggressive to the short side hoping for another like correction like this I'm just not convinced we're gonna get another correction like this. I know people are trying to find whether there's Correlations, but I just I don't see correlations Because this was news driven It was news driven and then it became technically driven and then and so on there was a catalyst behind this entire thing There's not really a catalyst here. It's a technical more than anything and Because I mean the Fed is sat there and said hey We're buying more we're buying more. We're not slowing down. We're buying more. We're not slowing down I Just think that normally how the market goes is once the herd decides that it's time to short It's time to long normally so You know down here at 220 everybody was like, oh my god, it's going under 200 like Myself included But at that moment boom, that's when everything goes and so when I look at Commentary in the large cap channel and I look at the market and I look at the state of things and that that's that's that's how you use the advantage to all that Use that stuff to your advantage because you can see what other people's thoughts are you can see that most people are short biased and That leads me to lean to the long side still because the more That gather to the short side the worst it's gonna be For them on the bounce. Yeah, I agree Todd It feels like the negative sentiment in the market in terms of just reading in the chat channel. It's very high Now I haven't looked on Twitter I haven't looked on anywhere else I don't really watch those sources for you know, whether people have been Bullish or or continue to be bullish or bearish. I haven't really watched any of that. So I can't really say I Remain bullish on the bounce until you know until proven otherwise if If the spy loses 320 heavily loses 320 then Okay, all right You now have my attention, but again, I feel like I'm joining the parade on the bear sign like late and it's it's It's the same it's the same thesis the bears were selling when all the longs wanted to buy right all Everybody was continuing to buy the market up here because there was no signs of retracement It was no signs of anything. It was just signs like Just higher higher higher higher and so, you know, that's when the bears began to sell and or short per se and so that now that Everybody that was wishing they shorted up here is Ready to short down here and that's like that's how the normal person in me like Feels is it's oh, it's getting time to short and I'm like well hang on there tiger That was in so you have to consider that situation you have to put yourself in you in In the shoes of someone else that And granted that I know a lot of people aren't believers in RSI But when the market goes oversold in a normal technical situation It's usually a really good bounce If you notice here oversold market almost, I mean, we just tapped the line dink and then bup, bup, bup Now in this case over here, you can't really analyze this because this was news driven If we get some kind of news that pushes the market lower. Yes, we're going to get to crazy extended levels But in a normal trending market when you go oversold like this Find a technical level and get long And Have a risk always But I mean when you zoom out and look at this look at this every time even in In 2018 we reached this bottom of oversold here, but the moment that we go oversold When you kind of zoom in like this We start to bottom we start to find a bottom almost every time Here you had the news driven scenarios. These were these were news driven days And so news driven days can push you outside of this What I'm saying is is when there is nothing news driven I don't see any kind of press releases that are pushing the market lower I see it like a crap load of of headlines today For the spy and for everything that goes along with that. I mean But from what I see it all has to do with supreme court justices and the tiktok deal And so I I don't think that that is market related So I'm looking at this in terms of just technical so you've got the big correction in in 2018, right Uh The big market correction in 2018 And then after that point you have your first touch of oversold here And then you have more continued downside, but it doesn't really go that far It only goes five more points under this low right here And then it continues to bounce from there and we find another bottom here And then we find another bottom here And so the odds that this Starts to bounce to me Now that the rsi is is this it's going to be oversold At the open like there's no doubt in my mind because we were at 34 Uh in terms of rsi when we were at 330 and we're gapping down to 325 326 There's I mean, it this thing is going to open oversold Uh, whether it's right at 30 a little under 30. I'm not sure But I'm eyeballing this 320 line this 320 320 320 320 320 320 like all of that's big time support, okay And we should have the moving averages curling into this as well Um, let's look what the smas are doing. This is what everybody sees So, you know, we're gonna we're gonna put on here like hey, what is everybody looking at the 50 period? um And then the Freakin thing come on 100 So we're under the 50 Approaching the 200 We may not touch the 200 exactly We may get close we could get close We could get close but this 320 line is a big line. Okay um I'm getting some some signals from From a from another system that I'm testing that Now is The ideal entry points. We're getting into those ideal entry zones 325 324 rsi is aligning with this like Everything is starting to line up um and uh Yeah, I'm I'm that's why I'm looking at this and going You know, I know that I kind of want to Um I want to start jump the bear inside of me wants to start jumping on some shorts But I think it's the wrong timing Um, the time for me to be short was in this euphoria euphoric time But my problem with that is that how high does it go? Right? How high does it go? I know the market bounces like easily. I know the market bounces Regardless of I mean the market back. Okay, cool 35 percent retracement. Whatever fam just sit back You were traced that entire thing in six months I'm just kidding. That's this is not normal by any means but that's That's the thing is it's like, okay, you've got to believe in the dip um Because I mean we we're we're years away from the the the economy failing When we've put ourselves in the current state If presidency changes of the house changes in and everything changes and the white house goes from from red to blue You know, I don't think we're gonna fall immediately into a true recession. Okay I'm still not in the belief that we were we are in a recession Um, you know, some people are gonna call me crazy that they're like small businesses are shutting down This is shutting down. This is shutting down. And I'm like, yeah, I couldn't agree more. I know that they're shutting down. I see that The thing that we don't see is foreclosures. And so there's no confirmation of a recession until December When the eviction ban lifts, there's nothing that can confirm that. Yes. The debt we are up to debt in our eye We are up to our eyeballs in debt. We've been up to eyeball We've been up to our eyeballs in debt for freaking years But we are at, you know, an all-time level that that is that is ungodly Um And so the the factors are there the factors are there that, you know, after the presidency election, you know, we we have A lot of things to consider and with that said Recessions are slow Okay in the markets So if you look back at 2001 2008 um Those are just the most recent recessions Big market corrections are drastic and fast Okay through recessions are slow and painful recoveries. All right They are year and a half Types of time they usually last about 18 months About 14 to 18 months is the average recession If this were a real recession, we have just defied all odds, right? In in a matter of three months or in a matter of 30 days The market corrected itself 35 percent and then rebounded the entire move Wow, let me ask you a question though This is something that we have to ask ourselves This is what we have to ask ourselves here. Okay This current state of the market prior to coven Were we in a situation where um We deserved this type of sell-off from a fundamental standpoint not from a technical standpoint not from technical. I'm not asking about technical From a fundamental standpoint. Okay in 08. What did we have? financial crisis Subprime loans that got smoked On the mortgage side. Okay in 01. What did we have dot-com bubble dot-com burst? Okay right whoa dot-com bubble burst Now what do we have now people are calling it a tech bubble? Okay People in this day and age in the 20s are calling it tech bubble so We've got a lot of things that that are yeah, the roar in 20s. That's for sure um We've got a lot of things that are uh Very Contradictive contradicting contradicting contradicting Of each other. Okay So we have to be cautious with that and I'm not I'm just not convinced that now is the time to get short. You know, we we have all the rules Aligning with this, you know every time we say hey look When the market gaps down largely in your favor as a short seller You need to be a seller at the open Because it's gonna make it's gonna make it's gonna make your life a lot easier in terms of getting back in If the trend continues to follow down, but in the event that it reverses, you know You avoid that you avoid that headache and that heartache So I think again, it's a day for covers And especially now that you've got rsi leading into this oversold situation And we're coming into technical support in All these zones, you know now it's it's now it now it's don't be greedy on the short side Don't be greedy. Don't be greedy. Take the money. Take it Take it. I'm sorry, but I'm not convinced that this is gonna happen again Okay, so so somebody on the short side is holding out for something like this Yeah, okay When the market bounces you deserve to lose everything that you had unrealized Because you're greedy You deserve it You don't realize jack shit Because you're holding to you know change your life change your family's lives do this do that You're a greedy motherfucker and you're never going to be rewarded for that. The market is never going to continue to reward you for that So I It's just proven time and time and time and time again That should be the scenario. So I at the open I'm looking for the market to find a bottom Again, you know, I'm looking three tens three hundred three ten three twenty I don't think it's going to touch those today. I really don't think it's going to touch those I think maximum we touched today is around three twenty But just be cautious guys just be cautious cautious cautious cautious on the long side You don't need It's a wide stop scenario for me on the short side. I would be a I would be I would be a very tight stop Wide stop on the long side tight stop on the short side Because we are getting into that zone of of when it becomes time to Uh start to bounce. So if you if we use like stock charts here Well, let's go like spy and we do this In terms of like a normal little correction within a trend You will see that a normal correction in the market when we draw from about here Any Right there roughly We're looking at about 12 to 13 percent. Okay So 11 and a half percent is down here 12 and 13 percent Is pretty much going to be about the 200 day moving average 310 300 310 320 That's where everything starts to lie is Is between 11 and 13 percent is is really where I'm waiting for because so 11 percent if you notice 11 percent It's right around this 320 level 320 and then 310 320 and 310 that's pretty much the band on on like a normal market correction scenario So, I mean there's I don't think it's time to be bearish. I don't think it's time to be bearish. I think it's time to be bullish um Yeah, so that that's that's that's my thoughts on that. Let's uh see what questions we had here Uh, if the herd is going short the market usually does the opposite But how does that work if the money in the volume is short shouldn't the market go short monies go right through no So here's the deal Buckle is retail likes to voice their Thesis right retail says retail is what the the is retail is what wall street refers to as the herd okay People like us the normal retail day traders Once we start to join like the And we're like buy it all buy buy buy buy and everybody is buying buying buying buying buying buying then institutions stop That and so retail starts to trip over themselves and if everyone is buying You get exhaustion, okay You run out of supply You run out of supply And reality kicks in and that's when you get the retracement And the market corrects itself And so it's just simple it's simple economics So thoughts on snow thoughts are Just avoid it for a week or so um I don't really have any thoughts on snow I think that it's Just stuck in a shitty range um Yeah, I'm just not I'm not entirely too convinced with this. I mean this is This a massive bag holder scenario for everybody that bought in 270s um Gapping down to 227 obviously that's following the cues um The cues are at a pretty technical level for a balance too So we're in a very tech driven market. Um And it's We're we're getting into those points of when The market should start to find its base here You know the cues could honestly go all the way back to 240, but we never know we never know it's In these situations, I'm just going to follow the technical support levels and I'm going to start buying Start buying I still hold a position a spy of which I am I'm not even fully scaled into um And the it's not until Like late next month that my options expire And so I'm down on that position right now, but um, I can dollar cost average into that position Uh with a tight stop once I see some bottoming So I'm still not fully into that position yet Snow yeah snow again. I I don't have any comments on this right now. I don't I have no interest in it The volume has died off massively um You know huge ipo volume Low low volume in terms of the day one and then and after that I mean this is just massive volume sell off like just awful so Snow might be kind of losing some attention So I'm going to give snow like a week or two and then I'm going to kind of come back to it and visit What's going on with it? So it's two minutes to the market open guys I'm going to be wrapping up here. So I'm not really watching much, you know, you got the oracle news Um, I don't have much interest in trading oracle. This is a very bearish Kind of pre-market chart. So if anything I'd be short biased um Netflix and tesla netflix. I'm just holding out on netflix. I have a whoa Okay, hi there Hello netflix. No, I'm just kidding. I think that that's just a spread situation three points spread so With netflix, I'm just I'm just sitting here. I've got a position in netflix Again not fully into that position um But I just want to see where the queue is going. I want to see what the market does So I'm not I'm not overly aggressive at the open guys. There's no reason to be I think a lot of people should be waiting for at least the first 30 minutes to open before you start to get really aggressive. So Um, the es I think es is selling off towards the open here from that mistaken. Yeah, there we go so We're pretty far away from vwap. Okay, usually when we get far away from vwap We have some form of a bounce back towards it. So I would be really cautious on a bounce at the open if I was a short seller um I would be ready to I'd be ready to bail that. Yeah, of course the vix probably Probably woke up today. Um Yep vix woke up not much but Woke up order Yeah slightly woke up So we'll see we'll see what happens here, you know, again We could we could be back to the scenario where the market bounces and the vix goes red again If the market bounces vix is going red again. That's just my thesis on that. Um I think we're we're kind of at this height of the fear scenario So, you know Yeah tesla they uh battery day, right battery day happened yesterday And uh, and we are we are moving I I haven't even read the news So there's market open I'm just kind of giving you guys some live little commentary here Oh, it's tomorrow the 22nd. All right. Okay. That's one of this. All right All right. Well, you know, if you guys are trading you do whatever you're gonna do I'm not trading uh off the open here. I'm just kind of watching so let's um restore Kind of see where we're at Netflix red slightly cues red In kla we're down nearly 30 percent freaking a that's rough um Yeah It's nasty So es here. Oh, what happened? Oh, sorry guys. Um For some reason it it crashed down there. I don't know why All right about that Is it back now? Yeah, it's back now. So sorry about that. I don't know what's happening on that end But here we are in the you know, netflix almost green now I'm just sitting here Staying patient. So There's not really anything that I'm uh, too interested in trading it trading yet. So just kind of eyes on tesla Uh, I know you guys can't really see anything. I don't know why you can't see anything I don't know what's happening here Or why that happened. Let's see if I can try this again Okay, that's back. There we go Sorry about that. Um I'm not I'm not I'm not too I'm not too interested in much of this. So, um, I do like netflix uh mainly because I already hold a position, but uh in terms of Where we're going here. We're we're we're bouncing into this 470 line So I think there's a good set risk down here at 458 Uh, but don't chase it up like this, you know, especially if you're going to trade options in terms of premium too Can't chase you can't chase these because you're just going to get smoked Uh in terms of premium. So I think we hit this 470 and then we pull back a little bit But if we jam right through it if we jam through this 470 You know, I think we're going 480 490 next But here you go 470 top ish You could potentially go green I'm not leaning to the short side guys. I'm still I'm bullish Across the board. So here's the spy But I think you need to be cautious though You need to be cautious on your positions that you're that you're taking I'm not taking any positions off of the open. Honestly. I'm not I'm not touching anything I want some kind of clear indication first. So I'm going to give it, you know About 30 minutes until the market until the markets had time to settle Um before I start to do anything. I'm not I'm not really too like I'm You guys are probably not used to a trading style like this. You're probably used to market opens go go go go go All in get in Large caps man. You got plenty of time Plenty of range plenty of time plenty of reason to just be patient Netflix still pushing but we're finding some sellers here in the 470s Not a lot of volume See, I'm just not I'm not convinced yet that there's a reason to buy Netflix off of this morning move. So We're just gonna see where it goes the markets are just kind of chilling. Okay spies selling down Your outlook always generally on a Monday morning. See where the weekend data comes in and what price for the setup If there's no clear like setups, then I just sit back and chill There's no reason to like be like overly aggressive and ready to um To really do anything, you know, it's it's uh Yep, there's Netflix rejecting through 470 so Market selling down market selling down 324 65 is that pre-market low? Cues 262s, we're really not doing much off of the open. We're just kind of Really not doing anything. Okay We're at s1 here 262 30 and we could see 257 75 Keep going moving In kla bounce nice 10 bounce. Hello Look at that Nice little squeeze I hope in kla squeezes. I hope it does. I'm not going to try to predict it though I'm not going to try to predict that it's going to squeeze I'm just going to sit back pto in nice red ring move um That's pretty straight up at the top of the range. So yeah Yeah, all right new pre market low in the market This is where short start to get overly aggressive here So we could either see a big sell-off or we're going to see a big reversal I'm not taking any positions just kind of offering some commentary here Not taking anything again. Remember that level. I'm eyeballing is around 320 I do kind of want to start longing spy to be honest with you guys I do Want to start um Taking little baby positions Uh Hughes I just kind of have that same feeling. I just have that same feeling that I want to start getting long some stuff In this pool, but it's we're only 10 minutes into the mark. We're seven minutes into the market open We have plenty of time. We have plenty of time plenty of time. No reason to rush this No reason to get overly aggressive here plenty of time 324's Getting eaten Oh What a day. What a day already eight minutes into the day and we're like the world's coming to an end What's everybody doing the large camps? I'll open Roku Roku Roku Roku and netflix pushing again All the markets looking that That that that In KLA in KLA markets markets markets Workhorse dumping That work horse didn't really a large gap. So I don't really care about it FSly on tiktok, but the news changes. Yeah, I wouldn't be trading this tiktok news to be honest with you I wouldn't be I wouldn't really be touching any of it. What's Oracle doing? Pulling back Yep Isn't that short setup? Um That I I tend to like quite a bit but I'm not I'm not touching it. I'm not touching any of this It's Monday. I feel the need to I feel the need the need for speed. No, I'm just kidding Um, I feel the need to kind of start taking positions Uh, and so that might be a little early But it kind of looks to me like the market is finding an interim morning bottom here Q is 260 230 this over underline. We haven't broken pre market pre market lows Um Market starting to bounce. Yeah, I'm just I'm starting to think it's time to grab Some get ready for the scoop. I mean we're down minus two percent here almost in the markets Minus two percent here minus 1.8 percent here We're we're pretty much at the max bands to the downside. Here we go netflix I'm just sitting here waiting. I've already got a position. Um I think I'm still slightly down on it. Honestly guys, I haven't even opened my trading platform I haven't even opened it. That's my prevention to myself That I can't trade Prevention is not even opening the platform. All right, here we go Q's testing pre market lows spy tuned through to 324 netflix is through 470 but not much And new pre market low in the cues So now you're going to see netflix pullback roku pullback. You're going to see all those types of things roku jammin though She don't even care Zm Looking nice. Ooh. Ooh Zm looking good for that orb setup. Oh God dang it. I'm gonna have to open the trading platform I think zoom is probably gonna crash again. I can't do it. Damn it All right, so That's a textbook opening range break setup right here like red green move Supports a v-wap holds red green. We put a red candle in. I mean, this is this is textbook. I mean I'm not buying it at this moment. This is not the time to buy it. But this is oh, baby Okay, so cues we tap just under pre market lows and we start to push back So this is this is bull stepping in trying to trap shorts This is people remember over the weekend Friday was quad witching Was it quad witching or triple witching? I don't know. It was witching one of the ways one way or the other There was a lot of auctions, expirations. There was futures contracts, rollovers. There was all kinds of stuff And uh I don't like something like apple. Okay, just to be honest with you guys because a supermarket related um I think you need to be looking at things that defy the market such as uh zoom Zoom has defied the market zoom has defied the market tesla has defied the market uh tesla's got a nice potential setup here at 455 Like you can see you can see this topping here, um amd is doing the similar thing um I don't know. I don't really like that for an opening range break too up Too up too much too too too much of a move where it's 70 from 74 to 76 I don't really i'm not the biggest fan. Do you see guy? Do you see the difference here in in zoom versus amd amd like look look how big that candle is up and look how close vwap is chasing amd And then zoom we're not really chasing it in terms of of vwap. So I like zoom more Than amd this is similar setups. Okay. This is similar setups But I see kind of a first bounce situation out of amd and zoom I see Like an opening range break um I'm gonna have to open the platform If zoom crashes again guys blame the ticker Okay, did it work? I think it works. Okay. There's zoom. There's the move Uh, what's netflix doing? Good girl good Um I don't know man Mark, it's looking very bottomy with this huge open interest Of course, there's huge open interest We've got another 15 minutes though. We got another 15 minutes though here I might take a trade on zm But I don't want to chase it up in this direction, you know, we should see a pullback to about 445 ish And the risk would be here on vwap. That's got what are we doing in the old options here? Jesus. Mary mother. These are expensive Yeah, lee What did zoom get so pricey? Oh, it's monday too Cues reclaim and vwap cues are reclaiming vwap. I don't know guys. I'm liking this for for the grind I'm liking tech for the grind today cute spy. I mean this is looking like a market bottom For the day. I can't say for the week But for the day, uh, this is looking pretty bottomy. Look look at this. Look at the rsi 31.79 so almost oversold almost man netflix. What a move. Thank you mary mother mary mother price Zm just Okay, I kind of like these 500s No, I don't that's so far out of the money God dang 460s Have good volume Open interest kind of sucks though No position yet. No position. I'm not taking a position yet It's we're not really pulling back that much which is a good sign for a move higher But you know, I just feel I'm just I'm just being a little greedy here on the entry I'm kind of thinking maybe we can get a little bit more of a dip But we probably don't and this thing fucking moves higher and I don't get any piece There's 446 now this is getting bought The cues cues are right at highs. No, this is I think this is the move on zoom She's coming It stuffs hard. It stuffs hard, but Yeah, I can't get filled I'm trying to get filled Nothing Damn it I missed it. Well, sorry about that I tried to get filled on the 460 strike Wow, and there it goes Fuck you Monday If we stuff 450 here, I don't know how we feeling on that No, we're moving shit fml fml Often they're already up two points And I don't have anything Well, I got Netflix going for me. That's a really nice move um Let's let's look at this buy here What are we doing? We held 324, which was my level that I wanted We're at 325 850 950 10 minutes on the market open What are we looking like on a one hour chart? Man Netflix hot dog Look at you go How long am I on four? I don't know. I'm just sitting here, man I'm just chilling. I'm just fucking talk all I want honestly. Honestly, I could be on here until like 11 a.m 12 a.m market time Then I have one on one so but I'm not gonna do that. Um Because I've got a I've got to go number two coffee coffee coffee coffee coffee Oh Just kidding. I know you guys all wanted to know that What's amd doing? I know somebody is probably trading that Wow Nice move Nice move in amd Nice move If you caught some if you caught some math go for it, baby It looks very first bouncy to me um In amd so You know this pull a pullback to you know 76 Scoop 76 sell sell the quick push, you know, I kind of see a little bit of a scalp trade Potentially on amd. I'm not interested in it though. That's not my thing Uh, but you know just just some thoughts there for you hues Here's something to talk about here. This this is an opening range break. Okay, but not that much. Okay However with that said God dang it I might have to long the cues to be honest with you To be honest with you guys. I might have to long this shit September 25th. Okay. That's this friday's expirations If I play this friday's expirations, I want to be at the money. We're in the money And so I'm looking at these 264s 265s I don't think I'm gonna take it. Fuck. I don't know I like to pull the trigger you pussy, but Yeah, there's the zm potential pullback there, you know, we've got there's plenty of time here For this to for this to work um cues This is really the line right here this 263 50 That 263 50 as long as we're in that Dang it. Fuck All right, hang on. I gotta focus here or I'm gonna lose a trade. I can tell you I feel it I'm trying to buy some cues and I'm not gonna get a fill probably I can't chase it. I can't chase this up I'm probably gonna be too late on that um But I like the cues for a grind This has got a grind written all over it Cancelling my order there. I think maybe there's an opportunity to get a better price premiums kind of selling off there Yeah, man God dang We got 265 potential resistance. I don't know. I'm just gonna chill man. I'm gonna chill. I'm gonna chill Spy still hasn't reclaimed a vwap Well, it kind of has I mean just depends on what platform you look at 325 26 or 325s. We're pretty much at vwap Just sitting here waiting Five minutes. Are you always looking for both the spy and the cue? They never Move on the roadtaste stickers on top. So I'm always looking at these two. I'm always looking at these two I'm looking for what both are doing, you know cues are telling us that we're Gonna try to make a move higher Spy is the lager of the two spy is holding here at vwap and we have not reclaimed vwap in the spy Granted that if we close good like if we close We've got five more minutes for this hourly close here If this hourly bar closes near this opening level this like this 325 like 326 level, I'd love like a 326 There's the pullback and the cues God, I didn't chase that premium Zoom defying all odds still Market pulling back Pull back pull back pulling back Typical markets lately have been that these opening range breaks aren't continuing And so that's what's that that's what has me hesitant on these um Yeah, look at that big retracement Let's see. Yeah, I'm just She not listening Big retracement cues Is there something leading that? Let's test the doing Not really Apple Strong Apple's strong. It's Facebook doing Ah, Facebook pulling back Amazon Pulling back Okay You know, I think we got time Uh for you know, there's a lot of day left guys. There's a lot of day left. We're we're freaking 30 minutes into this That's it Oops AMD Nice move Spy or sorry not spy What was it? snow Let's crm doing nice move crm. There we go There we go. Oh, hey, I forgot. What's dk and g? Wow, that's nasty Jesus Minus 10% What are we doing dk and g? What are we doing? What are we doing here folks? Man? We hit s4 10% down What happened to the pump? What happened to the pump? What the fuck Oh big big reclaim big reclaim in the in the market Look at that candle. Yeah, they're bulls are trying to get it bulls are trying to get it Meanwhile dk and g being a little bitch difference between spy and accuse overall market tech There's your difference Oh, man What balls do I even own I've already forgotten I think I own these october 16th No, I don't I own november's That's what I own right there and uh I think that was the dip to long They already knows I think that was the dip to long and dk and g I'm still green in my position Like I bought this thing way down here at 47 I got bought down here in this little candle right there that deal week that reclaim and the cues Really could we really can trap there. What the look at this candle On a five minute chart. Look at that Look at that. Look at it. Look at it. Oh my gosh That's a wick if there ever was one Spy still struggling at vwap 325 50 man. That's the level We got and get over that Here we are at the close That candle Right there right there right there now is now is the time when I start making decisions to start scooping shit Um I'm really tempted to add some more Yeah, Lee nice. We need to get over 480 Spy I'm fucking long at spy. I'm doing it. God dang it Where's my position? Now guys, don't don't don't even think about I'm I've already got a position and I'm already Building things don't by any means Just sharing my thoughts do not Stepping at vwap again uh I gotta see a move On this over 325 50 Netflix looking good views looking good No, we still stuffing at vwap. We can't we just still we still struggling It's early. It's early folks 30 minutes into the day 30 minutes into the morning 30 minutes into a monday. I mean there's just Oodles and gobs of time zm was the move man Zm was the move and I hesitated for two seconds. All right cues losing vwap try and test We got s1 here vwap here. There's no telling what to do. No telling Kind of thinking that we're just burning premium today. Oh, man. I don't see a setup in the markets Oh Oh, why is that stuck in my head? That's a pretty big rejection Is there news or no? Can't tell if there's news um Beijing won't approve current agreement between invite dance kikot's parent company and oracle walmart because the agreement would endanger china's national security interests and dignity What's the video looking like? yeah gross It goes this pie again doing its little Fake breakdowns We just barely tick under and then reclaim tick under reclaim tick under reclaim Selling And he loves nope now roku defying all odds today. Oh, it's amazon app 2905 Yeah, see failed opening range breaks all over the place, man Failed opening range break failed opening range break amd New lows in the market amd pulling back. Here's that 76 line that potential first bounce, but the markets are not going in that direction so me zoom Still defying all CRM Now here's an opening range break that has a little bit of attention to it But you've got this red green stuff. So it's kind of conflicting indicators there 240 line 240 241 CRM buyers are trying to step in on the markets, but they're getting chewed They are getting chewed All right, 23 more minutes, and then we'll cut this off and you know, I'm gonna make a decision I don't know what I'm gonna do for the day Spartans think I'm not gonna do starting to fake it Oh, man I'm so tired Oh boy big reclaiming the spy there on that low Failure to move lower he was holding s1 I'm gonna make a decision here at 1030, you know zombie times And if we reclaiming these lows in the spy, I'm gonna grab some spy probably Two minutes here, I gotta I guess step away for two minutes. I'll be right back Not taking any positions All right, I'm back Markets still not reclaiming VWAP Netflix rejected 480 Cues still can't reclaim VWAP Sporting s1 selling again Facebook looking okay Facebook on a reclaim VWAP He was trying to reclaim VWAP a lot of tickers trying to get back over VWAP. I would assume Amazon Apple over VWAP ZM just no stop Oh I don't even want to look at ZM. God dang. That's irritating AMD right off of 76 nice Anybody catch that? This isn't my type of trade, but that was the trade. There you go That was a perfect little thing I didn't I don't like I don't like first bounces personally It's not my style And today testing VWAP pull back to red green go in moving Which VWAP do I use the normal one? regular VWAP Let's see SPX look like 3200 SPX almost into the oversold I don't I don't think it's time for the longs yet I see a lot of tickers trying to reclaim VWAP, but Market doesn't want to So we are just going to probably sit on our hands today Oh Getting that I'm in this oh man That was a nice long that I missed What a buzzkill Got a position there and it continues to work. So we are all right Market's looking like it wants to go low again Looking like it wants to go lower We are inching into this 320 line markets are down 2.2 percent today Hinching into oversold There's all the all the thesis to be Getting long soon Please Hello today. Yeah, no yay nay 323 18 I don't see much here guys. I don't really see much here I don't like anything to the short side My thoughts on pin and DK and G my thoughts are on DK and G. I hold a position So bullish Pin looks like a pretty pretty pretty similar chart looks pretty similar Didn't quite have the volume that see here's the difference pin. This is what we're looking at DK and G in terms of a daily chart like this this is the type of move I like to see right there So you got that big breakout volume That's why I think that you know DK and G has Um I'm holding DK and G. I've got uh call options that don't expire for 60 days They're $50 call options that I bought at 47 And so like I'm in the money and I'm also in the money. So I've got a lot of padding with it so My bias on the stock you don't want to hear my thoughts on this to be honest with you Because I have a position Um, I'm and I have a position for much lower. So my thoughts up here are really gonna They're not gonna do you any good to be honest with you New lows in the market. It seems Ticking down slowly ticking down to the 320 Just be careful everybody be careful detail in jam and Zm let's just look at it and make me self want to cry Oh Oh my gosh I hate myself I hate myself There we go. Yep. That was it a little blip right there And I said it too and I was chickening out This is a little dip And I was greedy greedy on my entry and I missed it It's all right. I'm I'd rather have my entry than no entry Even though it doesn't really feel that way right now All right, here we go a little red arrow printing on On spy Don't worry jake. I mean, let me tell you how I would have traded this I would have bought this dip right here and I want to sold it at 451 That's just that's what I would do simply because just following Just following the plan is you know, we're at r1 There's all the potential for it to reject right here. I would have bought right here sold right here cried up here Like that would have been it. Oh, it's gold tanking Is gold pulling back or in What's the ticker for gold? I've already fucking forgotten gc Gold futures is gc, right? Yes, okay gc Gold getting smoked at the same time the market is getting smoked that leads Some okay, what's futures doing? What's volatility increasing? Gc pulling back spy pulling back. Okay. Yeah, I think it's time to start I think it's close to getting Getting long. Hang on. I'm gonna edit this code Just gonna drive me. That's okay. There we go. Now we're good I'm gonna have to go watch bonanza and get that out of my head Zm heavy rejection candle there That's pretty gross But this freaking one volume bar right here is jacking up the rest. So you go to zoom in or you can't see anything I'd be a seller here Absolute seller. We're trading at highs at 10 30 on a rejection candle like that. I'd be a seller I'll probably you know want to cry again when it's at 480 And this is the only candle I have to look at but that amount of volume that amount of selling that type of clothes trading at highs at 10 30 I'd be I'd be getting out of a long position. I wouldn't be shorting it. That's just stupid but um I'd definitely be getting out of a long I would be getting out of that man You are very correct in that curb stomping. Gold is just holy smokes Thoughts on facebook bigger picture bullish Look at the fill of the gap like bullish I agree with you 1 000 percent This seems like an entire market pullback good to buy into And i'm gonna do it. I'm just waiting Let's look at facebook like you see all these lines I've done so much analysis on some thank you facebook All right, let's let's kind of reanalyze here Tesla low hanging fruit I typed LHF. Whoops Tesla um Battery day tomorrow, right? I don't think it's I don't think you I don't think anybody should be trading Tesla today 455 nice resistance. So obviously, you know, now we can say that now it's down to 440 440 Because nobody knew it up here. I was ready for this shit to break out at 455 Yeah Trading here's the thing though. Here's the thing guys. We're going red And now we're touching into these deviation levels at 10 30 You know, we could see a quick wash to 430. Okay, cool But I don't like the odds I don't like the odds Zm there's that pullback I had no fear. I would have shorted it, but I'm respecting the rules spy continuing to pull back There's the spy strategy first green day. If no, there's no strategy here. There's no strategy here the the spy the spy There's there's no like there's no like clear defined like pattern The pattern in spy The pattern in spy is this The fact that like down here like we're getting into this oversold situation Yeah, that's pretty rough cattle Man Somebody long it you first You you do it. No, you do it I don't want to You do it 430 though, man 430 I don't know. I don't like I don't like the the forward-looking catalyst The multiple forward-looking catalyst. I just I'm not I'm not doing Markets coming down into 320 level Getting into the oversold situation I mean all Signs point to Getting long soon Shit, look at that 430. There it is in tesla. Wow Ding That's a big selling volume now watch Somebody's going to call it a first red day watch watch Let me go look in panels. Let me go look in some channels. I bet you I can find it somebody says tesla first red day watch Where is that? I guarantee is somebody's going to say it Give it See zoom You all understand why we wanted to sell it up there You know understand why we wanted to get out that sell volume that candle I mean there was all signs indicative. Oh fey now's your time get long 430 Just kidding 427 428 is chewing man. He's chewing as gross. Is there news? No, no news Just selling Yeah, exactly. Yeah, somebody's going to say it man. I swear somebody's going to say it It's not a first red day. It's not a first red day Looks like it like if you were just like if you didn't know what you were doing It looks like a first red day 422 it's just chewing Wow Good short setups today. I guess I don't know. I'm not really I'm not really uh I just think we're getting into that zone of of uh Markets it down so much. It's hard to join the short sellers Cues at lows Because tesla's pulling back cues are naturally gonna pull back with it So yeah new low Waiting waiting waiting waiting You can't be doing Pulling back Netflix pulling back Yeah, it's 1030 Time to make a decision Not feeling when you had 250 Yeah, I think you would have had a worse feeling oren Had had you bought those puts at 358 and it would have went to 380 I think it would have been a worse feeling Or if it had gapped down and then just ripped everybody's faces off. I think that would have been the worst feeling That was american airlines pulling back Oh, it is Look at that I could see the market closing near the lows today And then tomorrow we get this little fake washout trap and then we bounce I could see that scenario um Honestly guys, I think I'm gonna wait for the close and then Maybe start picking up positions 419 whoo Better go It's been a nice short. Yeah, I don't know Sorry I'm not overly eager to trade today There's a lot of uncertainty And so You know, I've I've missed I've missed a good handful of trades here um But I just don't Really want to do this So here's the proof in the pudding on zm guys. So if this if this pattern is to hold true it will hold Um b-wrap here you will buy tesla 400. All right, let's see You're gonna buy it you will buy it at 400 you and the fact that you will buy it there. It won't go there It's it's not gonna go there It's gonna bounce watch it It's just gonna bounce all the way back up to 440 Yeah, look at this. Look at that fat reclaim off of uap and zoom This is textbook opening range break How did I miss? How did I just? uh See this is the disadvantages of Retail trading when you could trade like an algorithm if you traded like an algorithm the The algorithm would not know that opening range breaks have been failing Um a lot and they would just buy them Right and so you don't really know the edge of whether it's like Whether the edge is gonna stay or where the edge is gonna go That day it's just the the algo gets the signals and the algo buys And so is it is the algo i'm testing or based? No, it's not No It's a trend following trend following algo but the um I have tested theories on like an or based Algo and I've kind I found some stuff online too and that kind of does it For example, um I don't think it's like very clean per se Let me show you guys. I'll show you so here's the system that I'm kind of tinkering with that It you can see the algo said long it right there Uh, I don't have the stop loss modified. I need to modify the stop loss. We wouldn't have been stopped out I just haven't touched it So this is what I was saying here So we would have longed it there In zm, it would have longed it there and then see I would have sold into that level And so I mean I would have missed out on a shit ton and so part of what I'm what I'm testing here is is um Selling half at the target and then holding break even stop with the trailing stop as well Trailer plus break even I think that's a good mix cues pulling hard aren't enough of that Let's get back to this That doesn't do you guys any good so Sorry, I'm not sharing that I'll get the buy sell volume You gotta have the indicator natural gas gold and silver tanking It's silver futures You see it's gold still pulling I forget what gold what silver futures are s something I think That's not there it is So that kind of leaves um leaves a lot to be desired here Oh, yeah Get ready fey not ytn 10 your notes spiking obviously gold and silver pulling back um Have a look here There's a 400 line. Yeah 397 400 39 Tesla almost minus 10 percent on the day Yeah, I think a nice bounce is probably gonna Is probably getting near um I don't really see much Validation for 400 though besides this high and this bottom and this I mean, yeah, that's kind of there I can see it whole dollar Do you think do you think? I'm not touching it. I'm not touching it I'm more interested in this market pullback You Need Need and I feel like We're getting close I just think a lot of people are gonna jump on this this bear parade And it's you know Not gonna end well Oh, shit. They arrest him Oh unconfirmed. Oh, okay That'd be pretty interesting if they do we got alex's ig live at 11, right? Yeah, tessa pulling back tessa tessa tessa Let's just make sure people see that that is unconfirmed Where do I get the news from? Well, I just clicked this little in on thinkorswim Do do do do That's men's inga Reversion but I don't know man Spy is super far away from vlap here um 1045 roughly We'll see what this looks like I don't I have an hourly chart Oh It's my my stupid Zoom meeting thing Golly, look at the bounce though. Look at this. I mean that you've got s3 and the 320 line here This is the ideal entry. So I mean, I may end up missing this and we may start to bounce but All right 322 Oh It's a Roku don't you Wow Hello Roku It's netflix at dud I like spy to start scaling this on the long side. I think time is right Uh, I think price is getting close I started some I'm a really wide star Look at you I'm yeah, I'm long though Unlock some and it's time to bounce We're really far away from vlap. We're into this 320 zone um past 10 30 hourly charts looking like it wants to uh Sell more but Oh nice spay. Thanks for telling us at 420 shitty alerts great job Uh, it started at 410. It's 423 right now say 422 Thanks for telling us All right, so Yeah, I'm scaling scaling in some 30 day expiration spy calls I might be playing a little bit of a lotto here But I like the potential for spy So again, keep in mind that you know 320 is where I ideally want so I only took a small starter here Still below Yeah, see I'm buying I'm I'm buying a lot of Um, uh, anticipation here, but I'm I'm looking more at the volume guys. So if you look at this on the interday Um, let me let me just hide this fucking band of Whatever the hell that is Let me just show you what I'm looking at here The volume you can see it down there, but It's the amount of volume that happened on that reversal and the fact of how far we are away So this is also kind of the theory of of like it's going to revert back to the mean in theory So you see how we're extending down into this gray band here. I longed right here Um when I said I did Hey, what's up? Hey I longed when I said I longed I didn't just sneakily around like all of a sudden. Hey, I'm long from 400 and it's a 423 um So I'm long in this in this band here And the reason being is that you know, we we are like quite far away from VWAP And we're into midday price action So if bears are going to continue to sell this then they continue to sell us But I think that there's odds there that that we do see a bounce um So I grabbed some And we'll see how it goes But I'm kind of just eyeing the volume just eyeing the volume You see how what what I mean is you see how when we made this new low and we then we reclaimed that 322 level You see how this volume bar is It's uh, it's creeping up Over the rest trying to creep up over the rest So I think you know if we see some little bits here over 320 250 we can start to bup, bup, bup And we might go back up here into the 324s. So we'll see and there we go Let's see if it closes strong here What's gold doing? Still gross silver What PY like I always do that P in In your notes Yeah, oh vixx. What's a vixx out? Shit typing all kinds of wrong symbols today Vixx up 32 32 zone Oh, hey, nice bounce nice bounce spy Get up there Get up there All right, I don't care about Tesla anymore Nice long bang Netflix 469 87 really not doing anything First cues up Let's get back to where we were here um cute Our situation to the spy So we'll see we'll see where this goes. Let's see. Let's see what it leads to here You couldn't just get this bounce and then just And then continue to fade But i'm scaling it We got 10 minutes until uh, alex's ig live, right? Another woman coming forward about trevor Groping her when she was 18 In point. Oh, Jesus christ Brains of pores What do you use gold and silver for? so, um Theory is People are uncertain about the market. They start putting money in gold And so kind of my theory in this is My theory is that gold is selling now And so now that gold is selling and the market is selling i'm There's either two things that are happening one of two things that are happening Funds are uncertain Right billions what's your level of uncertainty? I am not uncertain um There's a bit of uncertainty in the market. So maybe people are protecting themselves and Uh, they're starting to hedge in other areas So exactly i'm saying that i'm saying there's a divergence in the correlation so in theory If people are uncertain in the in the overall markets then You should start to see you should start to see people start putting money in gold such as when the interest rates are down um, you're starting to see people put money in here but And you can test a market correlate you can test a correlation on gold if you want to so um You can test the correlation between gold and spy And uh or es is what you'll do basically you'll do it you'll do a correlation between es and gold And uh, I would recommend a lot of people to do that and you can start to see some of the little nuances there um but In terms of that kind of thing and i did it again I remember t in e in so The fact that we're getting this really big sell-off in gold Uh along with a market sell-off too i'm just kind of thinking in my mind that people are are dumping their gold positions And getting ready to to buy this buy the es again buy the spy positions again So i'm kind of anticipating a little bit i'm kind of i'm leading this a little bit um, are you recording? What yeah, yeah, this is recording So i'm i'm i'm anticipating this market pullback um Oh new high in the nyse tick there we go Nice nice nice Yeah, yeah, you know Here she comes We'll see we'll see I I don't know that it's going to go on another run. I just think we're going to have a bounce I'm not saying we're going to make a new high I'm just saying the bounces is inevitable Where it bounces though, we don't know but that's the purpose of technical support Technical support and resistance. We use these lines like this. We use 300 320 stuff like that Everybody was thinking 300 310 320 and so you know people buy anticipation of that like I was Doing i'm buying an anticipation of a bounce so That's you know, that's the theory so No, if I say it's going to make a new high i'm sticking to my analysis i'm not i'm not one of those people that's like um I think the odds are we sell off, but I really like the odds for a gap up tomorrow What the fuck what it what is that? Like what's your thesis on that like that was that's like the stupidest commentary in the world and some rooms Do that they're like I like the odds that we close it lows, but I think you know I think we gap up tomorrow So if you think we gap up tomorrow and you think that we close the lows why not get long You know, it's like it's it's It's like yeah exactly Yeah, you just you're just trying to sound like super intelligent in every scenario I want to nail the short and I want to nail the long and I want to nail this and I want it And I'm like just pick a side pick a fucking side slam my door too hard And so I just don't think that a lot of people can benefit from commentary like that So I'm I'm I'm sticking to my long side. That's where I want to be in this situation. I've taken some here. So I think alex has an ig live and I'm at four minutes. So I'm I'm gonna I'm gonna cut this off So Uh, let me text Or youtube live sorry not ig live youtube youtube live and I'm cool. Yeah Cool. Yeah. Yeah, youtube live starting in starting in five minutes guys for alex. Y'all make sure you jump in there See what he has to say for the day over there in small caps. I'm done for this. Um, I'm still um, I'll keep you updated in the large gap stuff, but I'm I'm continuing to buy Um spy so I really like these Odds down here for a bounce So I'm I'm continuing to to grab stuff slowly and surely And uh, we'll see where it goes. So I think Think best case scenario on this bounce is 340 It's kind of the eyeballs land there 340 I think that you know, we we we could potentially see where we are in a weekly time. I haven't looked at week Four weeks read Hmm I think the odds are this week we closed green this week Odds are we closed green? So we're gonna close over 325 this week. It's my prediction Just based on the odds. So Yeah, yeah, I do limit quarters Nothing no market orders I'm not just buying everywhere, you know The thesis was the reason why I was buying at 320 was was uh, or 322 Was that the volume came in there at the last little bit? So if like I have this cobra chart too, so you guys can see this you can see like you see how much volume came in on that You see all that volume that came in there, but when you look at this on a different Level um on this buy and sell volume Indicator You can see that a lot of it was still selling and so, you know over 50% of that candle was still selling volume But we closed We reclaimed that 322 and so that's why I'm like, eesh That should have continued to because I mean when you look at these like look at these candles when they're when they're when they're blue and red Right like this candle closes red Candle closes red Candles red candle red candle red candle red candle red candle green candle That's a divergence Little pattern there in terms of the volume and so that's why I like the The fact that this was kind of like a oh, oh pump the brakes. Nope. Nope. Nope. Nope so When I see these like blue and reds like this and you see a lot of sell-off You see these like consecutive bars, you know consecutive red red red red red red green I think bounce is coming so That's how you can that's how you can use these Little things like that. So All right guys and gals it's been a pleasure And uh, sorry, I didn't get long zm. I hope some of you did I didn't What abouts what a freaking glorious setup Just has to let's check out phase doing in her position. She's probably already sold and now she's short now. She's doing this Uh, no nice nice bounce nice bounce there Nice bounce. Oh you sold. Thanks for telling us Nice hold on netflix on 470 Excuse touching 4 260 261 Yeah, I'm bullish I'm bullish. All right guys, Alex's youtube live is starting now. So, uh, we'll see you in there Take it easy. We'll be uh, I'll put this in the library later adios