 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 evening everybody. Welcome to another edition of the access to trader.com nightly wrap up show. Hope everybody is doing well. Hope everybody had a pretty good trading session. I had a brain fart. I have about four brain farts a year. I'll share with you guys in a moment what my latest brain fart was. It really does show you no matter how long you're trading. We're not robots. You're going to make a mental mistake and I'll share with you guys in a second what mine was today. So let's talk about the market. Obviously the market continues to be out of its mind on fire, especially the NASDAQ composite. We're basically saying the same thing every single day. Semiconductors are just absolutely going bananas. Absolutely bananas. You can see here on the screen right now after hours, NVIDIA is up another three. Intel that I've been swinging now for three, four days is going out. Pretty out of its mind as well. It's approaching the $36 number. I started buying this thing the $32.80. Everything is good there, right? Everything is good. Semiconductors are good. The market is good. And then we were waiting for the PPI number to come out. And then we were waiting for Jerome Powell to kind of give us a hint of what is the Fed's next move. The initial number of the PPI didn't respond well compared to the CPI yesterday, but then it's true formation of the markets. The market continues to plow ahead, right? Doesn't make a difference what they say, what the news is, the market continues to plow ahead and continues to make amazing, absolutely amazing new highs. So the question is, what was the Fed going to do? Going into the meeting, I think we went over this a couple of times. The happy medium was that this was going to be the meeting that they were going to halt rates, right? And the question was, what would be the language going into the day? And we pretty much got that on par. They left rates alone. They did hint there possibly could be two more rate hikes up ahead, okay? And at one point they actually said there's a chance, right? There's a chance we might see some rate cuts next year. But then quickly, that language basically went away like nobody even mentioned that. And next thing you know, the market started getting hit, right? Getting hit. The downward down to two, three hundred points at one point. The Nasdaq lost all its gains. And just like that, you blinked your eye. Nasdaq went back to Greenland Day, led by the Semiconductor, led by the same culprits, and everything just went out of its mind again. It's just amazing. We go through the same thing every single day. And every single day you say, well, this could be the day. This could be the day. This could be the day. And it never is. It never is for the bears. Even if you have a good plan and if you guys remember three days ago, I had a plan, right? I had a plan of, hey, this was going to be a topping out process at least for today, at least for that day. I was going to look for the bottom of the range to look at some shorts. And again, it never happened. And it really does show you how aggressive this tape continues to be. Overall, it was a pretty hawker stance. I'm not an economist. All this economic stuff. And I don't want to be like that guy, but I don't care about the stuff. I really don't. I'm not into politics. I'm not into what the Fed is saying. It's all about price action. They could have dropped a balloon of diarrhea on somebody today. And the market still bought the dip at one higher. And that's kind of the market where we are right now. And again, if there is any bears left available to even have a conversation with, they would just probably rip out the last three strands of hair that they have left. But the question is, where is the potential, right? Where is the final potential, at least the market gives a little bit of a pause. And if you look at the upper Bollinger Band, it keeps on stretching, right? The last time I hit the Bollinger Band, the market paused and kind of had a three-day little bit of a reversal. This band keeps on rising. Going into today, it was around 66. If you see the high of the day, right? That's 366. But if you watched last night's video, we talked about 366 for potential measure potential on this move. And it got to 366. Now it's rising, the 368.5. The way NVIDIA is going nuts, the way Netflix, excuse me, the way Intel is going nuts, they're major components of the Nasdaq 100. There's a shot here that we do see this 268, 268.5 level going into tomorrow's session. The question is, will the market reject that level? It doesn't mean it's a concrete wall and we can go through it. It's just an area that if you trade pivots or you trade just anything and supply and demand, you'll realize that the Bollinger Bands, they're soft landing. They're not a wall, but they are soft landing. My God, if Intel could get to 36 tonight, I would really love to see that because I'd like to close out my position in the 36 area, but we'll see what happens there. Overall, the market started. It was good this morning. We'll get to the pivots in a second. It was good this morning. There were some really good moves that played out. You guys remember yesterday, we talked about Letter U, right? Yesterday, they came with the option flow of 40, 40.5s, 41s, right? The stock went nuts. They went to 42.5. We talked about yesterday. What else are we talking about? We talked about Nvidia potentially getting above this channel obviously exploded. I traded some AI today. I scalped some AI. I traded some UOL and messed that up. The video was pretty good in the morning, like two, two and a half points. That was fine in the morning before everything started coming in. There was a couple of things. Again, we'll get to the pivots in a second. Then let's go through the pivots first and I'll share a quick story with you what happened with me. Let's talk about the pivots really quickly, right? Here is the pivots going into today's trading day. Rivian, nice pop yesterday on Rivian. We were watching for the 1550 confirmation that never came. If you guys remember that never came, Letter U yesterday was a really nice pivot. Again, this is where we started tracking the option flow. 3790, 38 needs to build. Yesterday it traded to 3940s. This morning it needed to establish a new base above 3950 needs to confirm. Letter U went nuts. Letter U went nuts went as high as to 4230s. Again, congratulations for all you guys who caught the meat of the trade. I messed it up. Whatever. BBIO, 1685, 17 needs to build. Not a big move at all. 1680, 1720, I still like this thing. It still needs to confirm that 1720 for more upside. Nice little pop there. MRVL, 6370 needs to build. Never got there. AI, we didn't trade off this 4522 area just because it never got there. I traded off this really sneaky pivot right over here. You see how it got rejected here three times off the sneaky supply zone? That's what kind of the PS60 theory is. You don't need to buy the tops. You don't need to short the bottoms. There's middle channels that we talk about. There's middle channels that we talk about that are sneaky pivots. You hear me talk about that? That's what AI kind of did. It took out the sneaky pivot. It got a nice little pop there. A nice little pop came back in with everything else. A nice little cash flow trade. There was nothing wrong with that. NVIDIA, I took off the second entry off 412. The initial move was fine. The initial move went up like $2.5. Here's the pop here. Excuse me. Hold on. Where are we? Hold on. I'll show you where we are. We're right here. You see this thing right here? The initial pop was like $2.5, $3, and then it came back in. Whatever. Nice little trade. There was nothing wrong with that. Obviously, later, NVIDIA just lost its mind and just went nuts. Again, completely different scenarios. The video was fine. Intel continues to be really good. I started buying this thing in the 3280s. It got above 34. Now I'm hoping I can get out of the balance today after the close. Hopefully, it's right now trading $35.70s. I'd like to see a push into the 36s would be nice, but great move. Again, how can I complain about nearly a $3 move on Intel? It's coming up to a $3 move on a $30 stock. It's a great, great move. Google, Google 21, 20, 21, if it goes below Conflush, obviously never got there. Here's where things became interesting. Let me set the stage. Everybody has rules. I have very specific rules. Here are my most basic rules. If you've been watching this broadcast for a while, you know where I'm going with this. I usually trade about 90, 95%, probably 99%, let's be honest, prior to lunch. The reason why I do that is because the morning channels are exaggerated. People are chasing. People are doing this. There's a lot of emotions involved. People are chasing prices at any level, and channels start to expand. In the afternoon, the reason why I usually don't trade, because the channels usually contract, because all those people who are chasing, chasing, chasing, they probably lost their shirts chasing, and there's nobody left to chase. You need people to chase price action for these channels to expand. The afternoon doesn't do that. I always have a rule, whatever you like in the afternoon, you're going to love in the morning. It's the same setup, just give you a better chance of measured potential. I broke that rule. I'll show you guys what I did in a second. I broke that rule. The second rule I broke was the most basic thing about the PS60 theory is second entries. When a second entry basically means is, let's just say a pivot is $100. It doesn't mean you're buying at $100. It means let it go through $100, let it put in a new high, let it retrace back at least 50, 60, 70 cents. Once it goes through the new area in the new high price, that is the entry. That's exactly what I did today in the video. 411 was the pivot. It traded up to 411.75, retraced. Once it got above 412, I got long and that was the second entry. Second entry, trading the afternoon, I didn't do either. I didn't do either. The third rule that I broke was I had a really good plan. I had a really, really good plan. Let me tell you what my plan was. Let's set the stage here. Tesla for experienced traders only, 255 if it builds below can bring more selling. That was the pivot. Here is Tesla. It took out 255, it traded down to 250.5. You're probably asking yourself, what's the problem? That's a nice trade. It would have been a great trade if I would have shorted at 255, but I did not. What I wanted to do was I kind of changed my mind, which I never do. I never changed my mind. Again, if you're changing your mind, that means you're trading emotional. You're not trading with a level head. You're trading emotional. 99.9% of the time I'm trading crazy technical because I know what happens if you start wishy-washing in your theory, wishy-washing of technical levels. I didn't short off the 55. Instead, my initial plan was I want to do a remount. I want to do a remount off of the 253. Basically, what a remount is, let it get through the 253, let it get below, and when it remounts to 253, get long. I didn't do that. I didn't do that. If I did that, it ran up about $2.5, $3. I would say in about 40 seconds, I did not do that. So I broke three rules very, very quickly. Don't trade in the afternoon, didn't do the second entry, and never, never, never stray away from your initial plan. I did all three. So instead of shorting Tesla at 55 or remounting at 53, which both were played out great, instead, I shorted the move into the previous channel's low. And what happened? Guess what happened? It squeezed me back. It's not the money. It's always the money, but it's not the money. I had a good day, blah, blah, blah. It's been a great run, blah, blah. The point is, you know, society is built on rules and regulations, right? If you steal, you go to jail. If you cheat on your spouse, they'll probably leave you, right? If you break a rule, you break a law, there's ramifications. Well, why the F did I think possibly today, okay, was going to be any different. When you break not one, two, three rules, you break them all at the same time. Well, what do you think is going to happen, right? And not obviously never anything good would happen. And the moral of the story is, guys, we live and die by our discipline. Okay, the same way I had discipline to lose 40 pounds, the same discipline that I've been trading for 24 years, the same discipline that usually keeps me out of trouble. I broke everything today, broke everything today, got squeezed back again. Is it a big deal? It's really not a big deal. It's more of like, what are you doing? You amateur F, right? What are you doing? You absolutely knew you were doing it wrong. You knew three different things. You completely evaded, completely negated and closed your eyes and you went with your emotional level. You switched your bias in between the interval, which is a cardinal rule for a disaster. You did all three and then you're hoping the trade's going to work. Never hope, guys. That's the whole point. That's why I was really pissed off at myself. It wasn't the point of losing money on trade. I could lose money on trade. I lose money on trades all the time. There's nothing to do with that. The idea is stay disciplined, be disciplined, and usually things organically are going to, organically are going to play out. The problem is when you start cheating, when you start breaking rules, just like in everyday life, you're going to pay the price. Maybe you won't do 15 years to life or a double murder, but you will lose money. And that's the name of the game. You'll always lose money if you break rules, especially if you break three rules and exactly the same trade. It's going to be a disaster. And the most important part is just don't. I know it's hard. 99% of the year, I'm really, really focused. I will never do that. Today was my brain fart moment. I usually have about four or five brain fart moments throughout the year. And unfortunately, I know exactly what I did wrong. I'm conscious of it. And guess what? Hopefully, in the next brain fart moment, it won't be for a very long time. So again, guys, live by rules. We die by our actions. Never mix both. There's just never a good formula. So tomorrow, look, the market continues to be good. Hopefully, by the time we end this broadcast, hopefully, Intel could get above 36 for me so I can get out. But if that doesn't happen, it's not a big deal. A really, really good move there, neither way. So let me give you guys some ideas for tomorrow. Let me give you guys some ideas for tomorrow. Let me see where I want to start out with. Let me see where I want to start out with here. It's great when you're doing a video and you're trying to find an idea to share with the public. All right. So let's talk about some ideas. Keep an eye on workday. Workday had really good numbers. They came out with really, really good numbers. Kind of took profits for the last couple of weeks. Watch this earnings hive. Workday can start building above this earnings high. This thing can wake up. Keep an eye on that. Overstock. Interesting looking charts. It looks like I think they bought some assets from Bed Bath and Beyond. I believe so, unless I'm completely wrong. Keep an eye on this thing for the next couple of days. If it starts getting above this channel, again, there's nothing really left here as far as supply. If it gets above this channel, keep an eye on this thing. Maybe this thing can start waking up. Shopify. Shopify in the last few days has some short-term $70 calls being traded. Let's watch this thing above this channel. So far, this channel has been rejected three times. So let's keep an eye on this thing. Obviously, a runaway train on NVIDIA. NVIDIA is up another $3 after the close. Intel continues to go higher. Microsoft, not that far away, by the way. Microsoft, not far away from the top of the channel either. We should definitely keep an eye on that as well. So there's a lot of good action. I like this IoT for the next couple of days. You had a big, big spy consolidation. Big spy consolidation. Hopefully we can see a new high on the next move. Forward. So that's it, guys. That's it. I wish every day could be peaches and cream. Sometimes we are reminded how fragile and stupid of human beings we are and we could be. And no matter what happens, our biggest enemy is always ourselves. So again, word to the wise, guys. Stay disciplined. Stay professional. Okay. Stay patient. Stay humble. More important. Stay in business. Guys, God bless. I will see you all tomorrow. Take care.