 Welcome to Access to Trader, the number one community for those who are committed to taking control of their trading in order to achieve success, profitability, and longevity. Thank you for joining us. Here's Dan Shapiro to help you find your edge, master your process, and own your future. Hey guys, good morning everybody. Welcome to another edition of the AccessToTrader.com weekend update show. Hope everybody is having a great start to their weekend. Again, hair is getting longer, shaving not as frequently, but again, we're all still here at the end of the day. It's all about health and again, if you think about what's happening right now in the world, all our expectations and fantasies really need to be curbed down. And that's what we've been talking about kind of on a daily basis, just really appreciate life. And if you go back a couple of days, the governor of Georgia made a decision. They're going to reopen things up for business as of yesterday. All you can do is say a prayer. All you can do is say a prayer. And if you are a resident of Georgia, again, just stay safe. Even though everything quote unquote is open for business. Again, this is my opinion. I think it's incredibly negligent. But what the hell do I know? What the hell do I know? It's just one man's opinion. So please stay safe. So let's talk about the market. Very, very aggressive week. If you are a beta trader, and this is what we do, incredible ranges. Usually, again, these things have very, very big aggressive ranges with this type of market, with the increasing amount of short sellers. And again, this is not a market that's supposed to make sense. We've been talking about this now for weeks. You almost have to feel bad for the natural bull seller. Again, I trade ranges. I've been coming in flat every day for a very, very long time. And it doesn't make a difference to me. As long as I can grasp market sentiment, I don't care if I'm wrong in my initial opinion of what's going to happen in the market. I'm just going to wait for things to play out. Long, short doesn't make a difference. But you really have to go, you really have to be frustrated. You almost have to say a prayer for the perma bear. I mean, you have all the data in front of you. We have basically a standstill economy. You had 25, 30 million people maybe by now that have filed for unemployment, jobless claims exploding through the roof. You have housing starts way down. Again, who's running out right now and buying a house, right? You can have automobile sales and everything is completely standing still. You have this whole buildup in supply of oil and the oil market this week. Just the front end, I believe it was the front end of the June contracts was down 30% just for the week. And if you thought things couldn't get any crazier, you saw on Tuesday that WTI expiring May contract went negative. Again, you trade long enough. I guess you see everything. So it actually went negative on the day, which is the most unbelievable thing you can do. And with everything going out, with still everybody on the lockdown, for the exception of Georgia, the market is amazing. The market is absolutely amazing. And if you took all the headlines out of the way and you were just kind of stuck in a box, which were kind of are in our homes and just kind of looked on the surface of the market and the indexes were unavailable to us, right? News was unavailable to us and we're just looking based on price action. You would think we're in the most rabid bull market of all time. And the key is when all this first started, people just kept on really asking me all the time, what's the difference between 2007 and 2008 during the mortgage mess and this? And my first initial answer was, well, we knew what we were up against during 2007, 2008. We knew what happened. We knew what led us to that point and everything was scary because the financial markets were collapsing right before our eyes. But at least we can go outside. We can go to a restaurant. We could go to a bar if we wanted to drink. But life was normal based on every little thing that we take for granted now. And you fast forward now to look at the market that we're in. The market that we're in compared to what we had. I didn't have a great year in 2007 because we couldn't figure out what to do. We were lost. We really couldn't figure out. By 2008, we started figuring things out. By 2009, November was the generational bottom of November of 2009. But this market, the market kind of fixed itself within the first two months. And you're seeing ridiculously aggressive bull market action. People in 2007, 2000, nobody was chasing anything. There was nothing to chase. Now you have stocks like, for example, not that I was playing this thing on Friday, but you have stocks, for example, like an MESO. Again, anybody who chases a stock here, figure out even the trading aspect, it basically shows that there is no fear. Even though we're all stuck at home and this is not the third, you can tell the level of aggression in this COVID-19 market versus the lack of aggression during the mortgage crisis. And if you look at the technical scoreboard with everything that's going on, it's amazing. And I said this on Friday. It feels like a meteor would have to hit the earth, wipe out half the population to get a downtick for the bears. It's the most unbelievable thing I said, unbelievable thing we're seeing. But this is just the reality. The market is acting incredibly well. Beta is doing fabulous, right? That's the best way I can say it. But I think the most important part of what we saw came Thursday, kind of just to show how strong this market is. If you guys remember, and I talked about this on the Thursday night video, just in case you guys didn't see the video, if you guys remember a couple of weeks ago, not a couple of weeks ago, about a week ago, Gilead had a really, really had a huge flow of, I believe it was, the April weeklies, this was last week, on Friday or Thursday, we had a huge amount of activity of the Gilead 8,590 calls. And this is when the stock was at what, 74? And people knew. People knew they were about to release something or leak something, and there was a hope that finally the headline came out, not directly, I think, from Gilead, whatever the case may be. I don't even remember, all the way back to Monday. But the point was, the market rallied like 7,800 points on the merit that Gilead was going to be the white knight. They were going to save the day. They were going to have the formula that cured this whole thing. And the market exploded that day. And came Thursday, there was an early release of some data. It wasn't from Gilead. It was a premature release, that's what she said. From Gilead, and it basically said the initial trial, they didn't use the word fail. I don't want to use the word fail, but it didn't live up to the whole magic bullet. Everything was going to be fine, save the day scenario. And the Dow went up that day from up 300, and it went red. It went on a day, and instead of tanking on the news of a failure, of a failure that really got the stock up in the first place, the market just kind of sat there and did absolutely nothing. And that's when you knew, if you weren't convinced that this was a strong sentiment by then, you should have been convinced when it didn't sell off on the news that it rallied the market only a week before. And that was very, very important. And come yesterday, again, they could have sold off the market several times. And if you look at the queues, especially towards the end of the day, you had this big rally, right? You had this really, really big rally towards the end of the day. And if you've been watching this broadcast now, even for the last several weeks, you know how important this 213 over-under number has been. Every time we reclaimed this 213, we ran. Every single time we closed below this 213, we started going back down. So the fact that you have all this negative news, all this stigma behind it, all these deaths, all these still cases that are, again, plateau, whatever the case may be, blow off top on the coronavirus, whatever you want to believe. You have everything against common sense and sensibility and logic. And we reclaimed the 213 level and we started rallying back, very, very aggressive. But I thought was also as equally impressive from the bullish technical side of it is, what we started talking about at the beginning of the start of earnings. So the question was, because all these companies were coming out with, well, coming out with basic news and dissemination of news saying that, you know what, a lot of us are going to cut back on forwarding guidance, cut back on any type of early release, not to the analysts, but kind of early release to what we expect our quarter to be. There was a lot of companies that turned around and said, well, we're going to use this as a safety vest. The fact that we're not going to provide forward moving guidance, I think it was a very intelligent move, incredibly intelligent. Because, again, when an apple came out and said, hey, look, you know, don't be, you know, don't be surprised, you know, because of this whole COVID, you know, the Apple stores were closed and this, that and third, don't be surprised that we're not going to have this incredible quarter. And a lot of companies, I think most companies started kind of starting mirroring what Apple was doing to bring down expectations way down. So when they came out with their quarter, there wasn't nothing to be upset about. We get it, right? We get it. Our business is stopping. Our business is being put on hold. Our business is being cut. And you shouldn't have any expectations because, again, we're all in the same boat. So when earning season started, the question was, how was Wall Street going to react to companies taking down expectations? And it all kicked off with the banks. Goldman Sachs came out with earnings. Citibank came out with earnings. Bank of America came out with earnings. You guys noticing the same thing, right? If you look at every single chart, it looks exactly the same thing. Not one of them sold off on earnings, okay? Because, again, Wall Street started doing something that we talked about prior to earnings, giving companies and giving America a mulligan, right? Everybody, a mulligan, everybody giving almost like a do-over and said, all right, as long as you're saying you're not out of business, as long as you're saying you're not going chapter 11, we'll give you a pass. And you started seeing that with the banks, which was very, very important. Because, again, think about it. Banks are going to be the most aggressive domino. Think about it, banks retail, right? Banks retail. And the next thing you know, we're kind of in 2007, 2008 again. So Wall Street started giving the banks a mulligan. And when Wall Street saw that, stock prices started kind of leveling out a little bit and started moving back higher. And then tech season kicked off. And even IBM, if you guys remember the day before earnings on IBM, and this was right over here, and I said, IBM, never, never. I mean, go back to your charts. IBM never makes their quarter anymore. And again, they didn't make their quarter. And the stock gap down like $3, $4. And look what happened. They even gave IBM a benefit of the doubt. So IBM three days later, after coming out with earnings, and this was the earnings, three days later, they were higher than the highest close in the top of the range. So again, if this is a company that never beats their numbers anymore, there's no expectations in IBM. So they held up the banks, they held up IBM, and then Netflix came out. You saw this massive surge in subscribers. And again, that was understood. You had 15, 16 million additional subscribers that came into their business. Obviously, people are going to be stuck in. They're going to watch Ozark. Again, if you haven't seen Ozark, this is what you do. Start with season one. Thank me later. But again, the notion on the street was, well, now that Netflix had this magical run from $290, from $290 to $450, was the price baked in? Was the appreciation baked into their earnings? Again, we knew the earnings was going to be fine. It's not going to be horrible. We knew that they were going to have additional subscribers. Again, take away from their business model in the whole macro sense. We actually knew everything that was going to be seen. The question was, how is the stock going to react? And the stock really didn't react. Again, it had its first initial push to $480, and then it came back in. They tried to sell it off. But if you look at Netflix, again, the moral of the story is just like with the banks, just like IBM, they're giving Netflix a mulligan. And not because a mulligan of stock price. It already ran up. It already had its $250, $200 point run-up. The point that the market is telling you right now, sellers are comfortable. They're not obscene. They're not upset. They're comfortable at levels. And when the stock continues to get mulligans, and the street is now giving a macro mulligan to everybody, to everybody who is reporting, that is a ridiculous bullish sign. And you add that with the fact that they didn't sell off and kill the market on the Gilead news, on the Gilead news that the initial trial, I guess, didn't meet up to at least early expectations. These are ridiculous, ridiculous signs. This week, coming up, you have the motherload of our earnings. You got Tesla. We'll talk about that. The greatest stock of all time. The greatest stock. I don't care what you feel about the company. If you trade Tesla, both long and short, the top five stocks of all time, at least for me, the top five are all Tesla. Then we'll squeeze back to everything else, just my little humble opinion. Whatever your feelings are about Elon and this, that, the other thing, that's a whole different story. I'm speaking from individual preference. This is the just absolutely greatest thing. We'll talk about the individual pivot on Tesla in a second. But you have Tesla coming out. You have Amazon coming out. You have Facebook. You have Apple. You have Microsoft. And a whole slew of other beta names. And oh, by the way, if you take that, if that wasn't enough for market sentiment, Intel missed their numbers, right? And what do they do with Intel? They took the stock to green. So we're setting up very, very aggressively to the upside. And again, is it possible something happens? Is another leg to drop? Do we go back to lows? Of course it is. It's the stock market. Anything's possible. Again, I'm just taking the data that's in front of me. I'm not trying to find something in this state that's not there. I'm just taking literally the data that I've seen, the data that we've traded on, the data that we keeps on reconfirming market sentiment, and we're giving the bulls the benefit of doubt going into next week. Again, if anything comes out new, we start collapsing, taking out lows. That's a whole different conversation. But for now, it's super bullish. We reclaimed the 213 area on the QQQs. And again, unless something materialistically comes out next week, and they start discounting bad earnings and we start rolling over, again, assume that the market will continue its aggressive way. If things turn, things turn very, very quickly. We will be prepared to the other side of the market. And by the way, the other side of the market is still giving you really, really great trades. And let's get to the pivots on Friday. Just a quick announcement. We've been showing these pivots. I try to put in, especially in the afternoons, I try to put in one or two pivots to the general feed, to my general feed. Just again, especially for new traders, just to show how aggressive some of this price action is. And I've been doing this for eight years. For eight years and all, on Friday, I put in that pivot of the 719, 720 pivot on Tesla when the stock was trading like 730. I said, that's the magic number. That's the number that's going to spark the stock. And the stock ran up into the 730s. So we've been doing this. I've been putting these pivots on my general feed for about eight years. OK, I think that's a pretty good sample size of what they can do. Starting Monday, I just made a decision. Starting Monday, everything will be on, everything will obviously be either on the private feed that you're seeing right here or in the live webinar. So if you want to jump into the feed, if this has been giving you incredible value over the years and you want to see these things play out like they do every day, OK? Just jump on the feed or jump on the live webinar. There's plenty of value and you're also getting all the workshops, all the PS60 workshops north of 10 hours of breaking down the process. So if you're interested, again, going forward, that's what it's going to be. So let's talk about Monday. BYND continues to be just a monster. Again, the whole premise of shortage of meat, that's what she said, continues for what God reason, right? Continues to surge the shares of BYND. And again, this is what started the day. BYND 107 rejected twice if we reclaims, can test pre-market highs. Again, experience only 50 cents of Max Payne. Because again, the last thing you want to do is get rejected the third time at 107. If you know that gets rejected, why risk more than you should? So 107, here's the 107 pivot. Phenomenal move. I mean, really, really phenomenal move. I got long on the 107 break. I just didn't get enough size, which is amazing, but it is what it is. So here's the two candles right here. 10690, 107, right? So it got rejected twice. Once it took out, the 107 started building. It just absolutely exploded. It went all the way down to 113. Again, congratulations to all you guys who caught that. BABA really didn't work that much. It didn't really work. Well, I mean, subjective, I guess. 20340, 203, if it builds below, can flush. Here was BABA. Didn't put up a big move at all. So here was the 20340. Only went down, excuse me, wrong stock. I knew it looked crazy. Yeah, so here was the 20340, right? Here's the 20340. Only went down to 20282 and then kind of reversed. Didn't really work. Only went down like 50 cents. Zoom, you know, Zoom was great. Zoom was really, really good. I caught this thing from 78 into the 80s. Nice move here. Again, there was a monster, monster announcement later. We'll get to that in a second. But Zoom, 17720, 17750 needs to build. Could see the 181 supply experience traders. Only, again, Max Payne, a dollar. Here was Zoom. I mean, fantastic move. Really, really fantastic move. So here was the 7720, right? Here's the 7720. And again, I like to enter it the whole numbers because I want to see them build. It took out the 7720. Again, there's no supply and demand and demand. Again, there's no random area where they stop and it traded right into the 181 supply. So really good trade there as well. Shop, again, shop, not a big move at all. Shop, 609 if it builds below can flush. And again, you're speaking from subjective. You know, you could turn around and say, well, you know, I took the 609 break and it went down to 605. And again, on paper, it looks good, right? 609 to 605, it was very, very strong. It turned around, started going higher as well. So again, if you took the trade, I didn't trade shop on Friday, but if you took the trade from 609 to 605, you made some money, God bless. Very, very strong name. I actually like it very much for this week if it starts confirming levels. This was the big move, okay? We've been talking about bowling for the whole week. The buyers were coming in the 130 weeklies, the 125 weeklies, the 120 puts weeklies, right? And it finally got killed. Bowing, this is what started the whole frenzy and we talked about the levels, right? We talked about 137 was the sneaky pivot. I'll show you why in a second. 134 was the previous day's low and 13290, that was the macro low. So 137 sneaky if it builds below can flush. And congratulations, guys. This is definitely the initial move of the day. We'll talk about Tesla in a second. So here was the 37, right? So here was the 37, okay? So here was the 37. It was these two channels, right? It was the highest candles into rising support in the 60. So 13712, you can see it, right? 137, so it gets destroyed, right? Absolutely destroyed. And then takes out the 34 from the previous day, right? 34 was the previous day's low, which was right over here. And then the next low was that 3290 was the macro low from a week ago. And this thing got destroyed. I mean, absolutely destroyed. Went from 37 to 28. I still think this thing goes lower. Is it going to go lower in a straight line? Probably not. But this thing has a shot to go all the way down to here to its April 2nd low of 120. So I know a lot of you guys still have a runner over the weekend. So great job. I mean, absolutely great job on Boeing destroyed. Netflix got absolutely manhandled. 424 keeps holding if it builds below can flush. Here was Netflix, right? So here was Netflix. Here's the 24, right here. All 24, 24, 24. Went all the way down to 415 destroyed. And it actually woke up later. Actually wound up putting a pivot. Never got filled. Never got even close to the upside. But, you know, it actually started waking up. And I thought there could have been a sneaky pivot up here. Obviously never got here. But monster move on Netflix. ZM perfect. Baba take on the way down. Beyond. I just wish I would have got filled on normal size. Which was good. Netflix flush. And I said, listen, great moves. I mean, absolutely phenomenal moves. There's nothing wrong with them. Here's the pivot I actually put back to the upside. Never got there on Netflix. And this is where we talked about, this is where we talk about this is the greatest stock of all time. So I actually shorted this thing in the morning. I shorted this thing in the morning. And it went down, it went down, there was a 703 pivot. I don't remember even if I put it on the, and it went down to 698, right? So I took some money on the tray there. And then I was waiting for that really hard confirmation of 698, which never came. And it started rallying and got very, very strong. So what happened was, Tesla just started sitting there, like literally sitting there, 713, 715. Then we started seeing some really good flow coming in. Notably somebody put on a ridiculous bet, I think it was like the 1,500 calls of like the January of 2022, some ridiculous bet. But again, it started getting stronger and stronger and stronger and stronger. And the one thing about Tesla, last Friday, there was that 714 pivot, that went to 740, okay? So we were watching this area here, and I go look, 719, if it builds, this thing can really wake up. And this is, again, this is why the stock is just a beast, just an absolute beast. So here is the 719 right here. Here is the 719 right here. It stopped here twice. It reclaimed, took out the high of the day and just absolutely exploded when it's highest, almost 731. That pretty much ended the week for me, that was done. I was done for that. It was a phenomenal move, absolutely phenomenal. I was very, very happy. And a lot of you guys caught this pivot, so great job there. The video, not a bad move. The first move was only like a dollar, 287 needs to build. Here was in the video. I know it went higher, but that first move was only like a dollar. So here was in the video right here, 287. Went to like 288, 27 before it came in. This move actually happened towards the afternoon. So again, nice little cash flow there. Like I said, take on the way up. But most important, again, most important, what I like about this tape is you don't need to overthink, okay? You really don't. You don't need to overthink. You don't need to try to rationalize everything. Just let things play out, because just as fast as there's a pivot, for example, on the trade that I took in the morning on ZM from this 78 level into the 80s, you know, at any second something can change and we were just sitting there and a squawk box broke the news that Facebook, right? Facebook was coming out with their own video conferencing. I think they said you could fit up like 50 people and I tweeted this out right away and I said, hey man, this is bad for ZM. I know a lot of you guys. I didn't trade this thing on the way down. I was already just dead tired by then. But moral of the story is you could see how quickly things changed and Zoom got destroyed. Absolutely destroyed. They'll actually be another pivot in this thing on the downside if it confirms for Monday. But again, going into this week, I want to give the bulls again the benefit of the doubt. I mean, look at some of these flags, man. Look at some of these flags. Look at the 60 minute view. Look how tight Amazon's getting, right? Look how tight this Amazon's getting. Look how tight Tesla's getting. Tesla is literally one channel away from just going bananas, okay? Absolutely bananas ahead of earnings. Even Netflix is holding up, right? And Netflix is even holding up here. And if you look at Apple, right? If you look at Apple, you know, Apple on its way to earnings, everything looks pretty good, right? Everything just, Microsoft is one day away from reclaiming the 75 area and moving higher. So things look good. Again, I know we have earnings coming up knee deep into this week. All the major hitters, Amazons, and your Googles and your Facebooks and your Teslas of the world and Apple and everything in between. So again, you don't need to overthink. You don't need to overanalyze, especially if you trade beta. You have such big ranges throughout the day. There will be opportunity on both sides. The most important thing is stay calm, stay, you know, again, stay patient. And the most important thing is stay in business. Again, for all you guys, if you want to join us in the private field or in the webinar, that's gonna be the only places we'll be putting these pivots ahead of time, obviously. Again, eight years is, I think, a pretty good sample size of what these things can do. So if you are interested, I welcome you on board. If not, guys, God bless. Stay healthy, stay safe. And with God's help, I'll see you all next week. Take care, guys. Have a great... Congratulations for putting in the time to take control of your trading. You're one step closer to owning your future and achieving the success you desire. Want daily trade ideas directly from Dan? Straight off his personal watch list? Unlock our free PS60 vault, where you'll get nightly updates on pivot opportunities we're watching for the next day's session. Click the link in the description to get started today.