 Okay, good morning everyone. Let me know you can hear me And means it's too thin koala bear. I think we're just gonna have to watch both of these here cuz This is looking better and it's okay better better better And we have two we have two good ones today So let's look at the market markets hire nice recovery yesterday Kind of a week close here for the spy, but it's gapped up this morning. So it's recovering nicely. I Put the bullish watches in the room if you wanted to watch a DSK or the other one amat This is probably better here the amat if you want to go aggressively long. I'm just gonna do my normal shorts today So here's a target on FL Roomie, I've been talking about FL. I wrote the rating up in the morning, but it might be different now it's That was a while ago I rated it Now the option letter something separate But I'm just letting people know that there was a there was letters sent out this morning to check the room box No, it's just whether I have my my if I have my Keyboard on cap and it's all caps We just focus here on the day trading right now today. That's what we got to do here this morning So one quick short and out today market is bullish and it's Friday anyways, and this should drop right away It's preferred Actually, I want them both to do that So I'll put full locker up is the main one the rating has changed, but I'm not gonna worry about that right now Just follow me here today Nothing is not to spreading Everything today is spreading. This is it for the shorts. You're like everyone And to me as well Gorgeous day in New York beautiful I don't jump the gun at anything today So Campbell soup isn't open yet Footlocker isn't really moving just wait So this is open, but no volume here in this. It's the Campbell soup really too thin It's really too thin Don't do anything until I say so the volume is coming in now in the second bar of Campbell soup and Footlocker we're watching to This is going I think this is the open here though at 931 on the on the CPB I'm watching the Footlocker here, but no one should be in anything. I haven't called anything yet. I haven't called anything yet. I Think this bar was the open Okay, Campbell soup. Let's watch this now the volumes in it. Let's see if we can get a setup in this I think this bar really was the open Let's watch. Let's watch this Okay, nothing set up yet. No one should be in anything. This is rallying Gosh, nothing setting up. All right, stay with the Footlocker be off Campbell soup Let's do 75 by 50 here. It's going right now. I didn't get it here. You can do this I didn't even get it. I don't have time to bring it up No, I'm not in it if you want to you can do it right here. Put the stop at 6150 It's a dollar from here. It just broke right when I called it and I didn't even have it up on my monitor I'm not in it, but you can do it if you want if it pulls if it pulls up Then I'm going to take it though. It just broke so quick and I just couldn't decide what to do I'm not going to chase it, but if you want to be in it Stops 50. All right, let's see if it pulls up 6150 is a stop if you're in it Let's see if I can get in it It's a cautious today If you're in this a stop is 6150. I don't know if it'll pull get another entry or not You can be in it if you want Oh, this is off All right, so this is the one to focus on here But I didn't even get the chance to even give you the number. I just said take it It was 94 by 6 of 50 if you did it, but I didn't give you the 94 number. I just said take it Either way, it's already going here. Let's see if it backs up. Let's see if it backs up Yeah, this is a way bigger stop that I wanted to take If you're in it already, it's valid stop is 6150 though Crap, it's gonna go just do it do it right now. It's gonna break there there There just take it take it and get the stop and it's 6150. We're not going to get a good entry Just be in it. This is the high of the day though 6150 6150 just be in it. It's going to break It was it was a late call Let's see when you get it down to 59 and make it worth it just a big stop I sized myself for a buck, but it just broke past that don't worry about it Get the stop at 6150 and be in it. It's not going to back up Do they do it? Do we get nothing today? $59. Let's see if we can get a dollar out of it It's better than nothing Just couldn't decide which one to do Here at though Here here here Here we could scalp out of some of this because it was such a late late entry Here here here here. No, I think it gets to 59 here. Try to hold it if you took it with me If you got it earlier, you could piece me a lot of somewhere in here first target with 60 here Maybe we can get it down to 59 crap that was just so Here all right, if you got this back up in here, which I did not It literally broke and I couldn't decide which one to do here here You could get out of some of this here you get out the whole thing. I'm going to try to hold it down at 59 I almost didn't do it here 59 dollars. Let's see if we can get footlocker Here 59 dollars So we'll go over this when we're done You should be in it and if you didn't get it then you got nothing today Just a late entry for me. I was thinking it would bounce here. It didn't happen But this was the entry and I kept flipping flipping flipping and then it just broke here footlocker All right, this is it. Oh my gosh. I almost didn't do it You can't be too picky here footlocker. Sometimes when things are ready to go, they're ready to go Here 59 dollars hand off the keyboard. See if we can get it down there Here, let's just go over it. I'm really going to try to hold it down there So anyways this rallied up and I kept flipping flipping flipping. It wasn't ready yet Anyways, the perfect entry really was here Okay Which I did not call and then I said take it here and then I didn't get it And I'm trying to flip around because I had the cpb up Anyways, then I thought maybe we get it bounce and then once I realized we wouldn't I just grabbed it It grabbed it. It broke fell Again, if you did it up anywhere in here, you could be out of the whole thing or at least half I think this gets to 59. I don't think that's crazy So here we go see if we can get it under the low and then this is it This is our whole morning 59 is the previous low Good morning, Anna. You're late. If you didn't do this trade, it's way too late I mean if you just signed in here Here footlocker Kuala bear got out. That's fine. Here. I think it goes to 59 Here it goes $59 footlocker Can't we do got out he can't take it anymore I can't take it I did say yesterday Prediction will get an easy one today that moves fast. That was correct 938 Wow, what a nice trade. Come on How do you on your game this morning here footlocker? Hesitation kills the cat Here footlocker I swear god if I had hesitated one more millisecond, I wouldn't have done it 21 You're here here Here yeah, come on. What a nice way to go into the weekend here footlocker 59 a mile but try to let it in my Hey, whoo, and I almost didn't do it here. It still looks good. It can even get a 58 I was late on the entry. That's why but it doesn't even matter here. It can even go lower Is anyone in it crap it is it doesn't matter What a nice trade wow Be very careful here if you're still in it. I can't tell you to still be in it But it might go to 58 And look at the market. All right, let's just look at everything quickly Oh my gosh, it's still going is anyone still in it Holy guacamole's put a stop over 59 if you're still in it, but look I did I knew 59 59 Excellent column the best. Yes. I think you might be right Can't disagree with you there It's gonna try to break 50 50s under where I took it here. Is anyone still in it? Hey, woman. Did you get it? Duvall just still in it. He holds everything until it dies and goes to zero I'm speaking of which. Let's look at Baba Well, this really had a flip around today. Whoo Now this looks like buying this looks like buying here. Um, here it is. It's going to 58. Wow Wow, oh my gosh Here be out of it. What a huge move even with a late entry here 58 13 You've got to be out of this here people. Wow. Look at that Mark said yes, great change Not at zero Duvall's Duvall's. Did you get out of the Baba yesterday or you're still in it? I've never seen something like that happen. You really had the gods of the trading gods with you there Keyshore's out. Have a nice day. You're welcome. Chris goes out Duvall's is still in it This is literally under 13 if it can make it if not. I mean, this is a big move here Straight selling down Oh, you're still in the Baba. Oh, yeah I mean, I would get out of this if you have this through today, right It it did it. I don't know how you got so lucky with this Now the option letter is for option trades. These are day trades So this is there's no option trade in the in the field locker Now the trades are different the option trades are different than the day trades Um, I wouldn't call this as an option here I wouldn't I mean the best way to do stocks like this is to just to do the equity trade to take the position and get out To get in and get out get in and get out. In fact, let's look at Chris's Cisco If this breaks 31 today and you're up any kind of money in today's expiration, I take it out You did the put in this You know, I'd be careful here If you have Baba out till next week 126 127 you've got the market with you, which is good Could get over the high. I don't know. Mark's gonna have trouble here in the spy Cues look good Let's go over everything here um, this Really, I was right. In fact, I said it out loud too thin. This is the open and it was the open Actually, what was the one we did in the last month that did this and then I went back and I said, wait a minute This was the open it I thought it was but it wasn't Crash, what one was that there? I forget what it was The second bar was the open. This did not open until 9 31. So this really never set up rallied up here and you can't short it And the vine came in here So I'm glad I got off of it, but I did like this too Footlocker ended up being better as the morning went on. So then I did have that up too and I'm glad we didn't do this So Campbell's suit never set up and the open was not on the open at 9 30 It was a 9 31. I could tell by the volume This is still fine You're on a trial. You made $850 Well, lucky you today's your lucky day there mark And who could believe this? So of course I was watching it watching. I said, don't jump the gun. Don't jump the gun You know, but then by the time I flipped and moved on to this it broke I said, just take it. I told you where to put the stop And then I thought maybe it would rally back and then when I saw it wasn't going to I grabbed it here in this bar But the real entry was here. So, you know, so I knew I took it a little bit late So I really needed to get a move out of it, which which which we did And I thought $59 was good and I sized it for a buck even though You know, it was well, I mean the perfect perfect perfect entry would have been here Which would have been 50 some cents So I'm glad I I I took it even though I didn't get the perfect entry What are you gonna do? Anyways, it dropped rolled fell I did not hold it to 58 13, but I'm glad I held to 59 and it did keep going. I got it through the break of 59 though So this was this was a good one people This is a great exit I don't go back into this again if you're out your day is done You had a good trade very nice way to go into the weekend and did did a good job yesterday with sysco Because it was the weakest thing to do and it really didn't fail It actually made money just wasn't a lot or you got outbreak even no one should have lost in that yesterday Okay And what a nice read on the gap here because I wasn't I I can't believe soup could have worked. It didn't but anyways, this got better as the morning went on That's so rare, but it didn't report till this morning. So sometimes this was not last night This reported at 7 30 whatever 7 15 So I rated it early. It didn't it looked okay Not amazing and then it started to get better. So I'm like, okay fine But either way Sometimes when you have a morning one, you have to go back and relook at it because it could get better It could get worse Rare that it gets better, but that is what happened on this today Okay Very important to be out of all shorts. Let's look at what the longs did this fell This worked I didn't rate these bullish gaps one worked one did not Big stop here And this is fine Um a you know how to delay it open. Was this the one? Yeah, I think it was because it happened I it happened recently. Yes. I think it was here. Let me look at it I was I was annoyed with that when I'm back. I was like darn it I think it was here 5 17 very tricky The only way you can tell is the volume. There's no other way. You can't tell any other way but the volume Yep, it was and this was really tricky It was because it was so stinkingly. I think it opened here at 9 35 that Really stinks. That was the one. I knew there was one And that was that one. Yep. Have a good weekend. You're gonna sign up for the options letter. Sure Send me the information here. This is trying to roll over again. I don't I don't think anyone should retake this. I don't know where this goes now here. Let's just look where it could go Definitely 58, which it didn't get to I mean this this stuff can move this bar over here five bucks Sure, this could get to 56 today 55 But again, market's very bullish. You make your money in the morning. Your job is complete There's nothing else to do once you've done it and we definitely definitely did it Thanks gator Any questions from anyone about anything or anyone want to go over anything at all? Ask me now. We just went over the trade. What else do you want to go over? Weird week with the market falling and then flipping around and recovering Not a lot of quality stuff this week, but got the ones that worked can't can't complain about that Dks worked required a retake and then ended up being a huge trade And the holiday in a week. So who knows what the market does Will we continue up here in a holiday week? I don't know. I do not know You're in a dks revenge trade. I haven't looked at this for a couple of days. Let's take a look It looks good for revenge trade You actually could have shorter this today as a day trade and it looks lower. Yes And again, anything that looks like this when the market looks like this is good Here we go. Man, we could fly today So we had we had a discussion. I'm upset. I didn't tape the room I thought I I thought I pressed the button to tape it and I missed it I didn't I didn't tape the discussion we had yesterday about low float stocks I'll have to do some kind of lecture on that at some point or a webinar or something Uh Because you know, there's no is the guy the here that asked me who's the guy that asked me about that The guy that asked me about the low float stocks yesterday. Whoever you are. Are you here? On the open house Great train list. I have to run. Okay came and do have a good weekend Uh, there's the guy jc. He's on the open house of the trial. Um There's no methodology. I was thinking about this action. I was talking to rachan this morning um There's no method There's no system There's no strategy There's no strategic methodology for you to find pick and play those or determine the ones that will work or won't in the gap What was that poop one? glyc, I think it was This one here That was the one you asked me about yesterday There's no there's no method here for you to be able to to quantify this to determine What it will do Very often these are news news related Things that happen news criteria. Okay There's no way to quantify this in a way that you could you could systematically duplicate like as an example Let's just say you went long this and made money. How would you be able to do it again? Of all the stocks that look like this that have news Let's I I'm just I don't know what the news was I don't know if it's positive negative or whatever but I'm saying is How could you duplicate the trade? If you did this you made money going long yesterday, I never would have done it But how can you how can you quantify that in a way that you can duplicate over and over and over and over and over again If there isn't a system or strategic method for you to follow To predict that it will happen in some other stock and some other symbol Does that make sense? So just the idea of trading news pops doesn't work consistently On positive news or shorting things on negative news or whatever The stock itself the chart itself in this here if you read this First of all, it's not even open that long. I didn't even see that I didn't realize it was only out till 2014. I'm just seeing that now Well after today's gap the stock has actually ended up trend Yesterday no you could have rated this it's actually the gap today. You could have rated today as a gap I wouldn't have done it because it doesn't have enough history But if you if you this is actually an uptrend now this stock today's gap not yesterday's But anyways, you have to have a way to quantify that it will happen So there and I'm talking about the one yesterday because that's when you brought it up I would have never bought it and wouldn't have rated good either, but you have to quantify the How to do this to know to do it to predict it to go long yet You can't just say well, I'm going to go long a low float stock when I have a news pot When it gaps up on news or it gaps down on news or whatever If there's no Strategy behind what you're doing it or a way to figure it out to predict it. How are you going to have consistent results? That's that's the other problem with these types of things Okay, they're you can't predict them accurately This is something you can predict accurately by using the 26 points Whenever it gaps whether it gaps up or whether it gaps down you follow the system and you do it So if you don't have a system to follow just trading low float stocks isn't isn't a system If that's what you like to do fine, but what's the strategy? What's the system? How are you choosing the ones that will work? Also, how do you know which direction they will go? Do you understand what I'm saying? Have a great weekend see you Monday. Okay, susanna. I agree It's not easy to be consistent trading penny stocks a lot of people gain some lose a lot Well, it's very similar to the overall market in the sense that you know more people lose than win But i'm saying this is very dangerous to people because people can lose a lot That and they don't realize it. I think that's the point. I was trying to make yesterday They don't realize it and this is this is not a great example here because now it's at trading at 14 dollars But very often ones that are worth one dollar two dollars penny stocks very very cheap under five dollars I think yesterday was kind of cheap, but I've traded stocks in this price range yesterday But I again, I wouldn't have done this but is people think because it's cheap and they can't lose a lot But then they're wanting to take a lot of size with a small account And you can really get hurt if something goes against you It sounds great to say well, I can take 10 000 shares of this and it's a dollar calling cost a dollar Yeah, but if it runs up 50 cents against you Guess what you're gonna be on five grand. So again You know size is how you make more money But you still have to have a quality strategy And and you have to have an ability to be able to enter and exit the trades without getting hurt And you can get hurt in these and people don't think that they will or can because of the because of the price points Which is dangerous But again, it's the idea that you have to be able to Duplicate the method that you do Consistently and there has to be one and if there isn't how are you going to duplicate it? How by following me taking my trades in the room every day for the rest of your life I'm not going to be doing this for forever So bottom line is that the best thing you could do for yourself is learn a strategy and a method that you can do yourself and learn And you you understand it and it's something that makes sense um you know all of you know I've been working on this television show idea, but you know and You know kramer has a show on tv on cmbc He says stock picks that he likes He likes this one higher. He likes that one lower and he looks at fundamentals You know, that's what he does But he doesn't have a system or a strategy for example that you could duplicate or follow You can take his picks when he gives the calls, but you don't know why he picks them now He might explain it to you. He might say I like footlocker Higher or lower or whatever he would say and he would give you the reason But would you be able to pick another stock abc? Whatever Out of the chart and predict where that's going based on his method No, because you don't know what his method is or how to how to figure it out yourself The difference with me is that you would learn the system and you can figure it out then yourself And I think I said this in the room last week. I was joking about this talking about it with my old broker She because we're talking about she said really you're a you're a chart analyst because you could look at anything And you don't need to know the name of it. You could say where it's going and she's right So I don't this guy could don't even know what this is. It doesn't have to be anything I could look at something and say this is going here That's it and just give the numbers reading the chart It doesn't matter what it is Or what the fundamentals say I'm a chart reader. So if you these things You know, if you don't have a method to trade them a strategy to implement you will not see consistent results So, you know, it's it's a huge benefit actually learning from me Something that you can grab onto and hold and say this is what I do and this is why I do it You can actually it It's something tangible You can talk to a person and say I knew the full locker was lower today and I shorted it And I made a dollar whatever out of the stock today and it rated this many points And here was the target and it's lower still and here's where it's going and here's why because of this Because it gapped down today and ready rated this many points Otherwise you can't no one can tell me here why this, you know would work in a way you could duplicate it But we could have 20 more footlockers, you know every day for the next Month and do the same thing And we'd know why it worked or we could predict it would work here. This looks like it's setting up again Let's just say It's a very important part. I think that people miss about trading that want to trade If you don't have a strategy to use to that you can learn from some of the duplicate How are you going to survive you won't a you won't make any money and b You will never be able to do without that person even if we're calling trades in a room If you want to do this again It's a kamikaze, but it could break again another dollar 96 by 65 footlocker for one more move. It's gonna hit. It's a kamikaze trade 50 50 chance of working or failing I'm done for the day, but it this didn't get back down to 58 and a very welcome to go another buck If you really are desperate for another move You could try Time of the day is good here 10 o'clock So part of the strategy was a gap down That is the strategy joe. That's the whole reason I did the trade. You must not know what I do I trade gaps Based on a rating system that I created based on stocks having institutional buying or selling which by the way This was institutional selling in this today and guess what What did I say yesterday in this this isn't getting bought it didn't get bought it did not I said this isn't getting bought and someone said it was doing a I forget what someone said What did somebody say they said it was doing a I don't remember somebody said it was doing a little thing here. I forget what somebody said it was cute Anyways, this did not get bought yesterday seen we didn't get the sell-off to come in Follow through but it didn't get bought it wasn't getting bought with institutional money Even though it kept pushing back it did it and even today this looks like crap with the market But unfortunately, this is a market stock and so because the market gapped up today This isn't getting to sell off either yet today. It still looks lower though Maybe for another day or two today. I don't know because of the market But yes, I look at what institutions are doing and that's what the gap rating method is based on Let's look at the aim at this might have opened and switched today. Let's look No, not the other one ab sk here No, it didn't swish it didn't swish, but this is institutional money that bought the stock today Look lower the day today is 106 87 price of this right now today is almost 111 So that's getting bought boom there. I didn't rate this. I preferred a short I didn't go long if you bought this today. You made money. You're up It worked. So this is institutional buying in the gap this gap up So there's bullish gaps and bearish gaps But that's what I do. That's the only thing that I do but it is predictable It is predictable That's the other thing you don't have about low float stocks. You don't have You don't really have the institutions buying those things So any volatility that you have Um is not volatility that I'd have a lot of conviction in it's put it that way To hold To to stay Here, let's look at snap Now this is lower. This is unfortunate. This is another one of these ipos that came out and failed immediately and is lower So this is lower Just look in here at everything Can you take f l now if you want to but it's a kamikaze 50 50 chance of working or failing 96 by 16 96 by 65 I'd put it 96 by 65 if you want it if you want it you can do it But it's it may not work I'm telling you because the fact that it already had a big drop And may push back a little bit more, but right now it's very very weak It's 10 o'clock and it didn't get down to 58 and I do think it's going to get there today If you want to do it here here here, it's here. It's going right now I mean you can't you don't have any time to decide you're either doing it or you're not there It just broke that's exactly what it did in here when I was like I fought for two seconds and then here So this probably goes to 58 Did you do it? Uh, did you do a green maverick? Look at j w n that was from days and days and days ago last week North shore the really new store in New York. I think it's going to open the Thanksgiving fall Thanksgiving weekend Um I would not short this here to the date of short. This was last week. No short today in this now Here this is like 95 of this move has already happened here So no you do not enter this short today. It was good a week ago the previous day Not here So could this follow through here lower? Yes. Do I think it does? No I think it opened today sold off here gapped up with the market stock is lower right, you know in the in the bigger picture here But today right now to reshort this here in today. I'd say I would not do that I a footlocker is better to reshort again in today if you want something or anything else that works But I don't think anything else did. I mean basically Let's look Cisco didn't follow through right today. What was the day before that we did? Dks I said you could do gps fell. Let's look at that This capped up green mavericks in it in the footlocker again Baba I'll look at let's talk about that for five minutes and then let's all I have to talk about today Uh gps was a bust can't go long. I can't shorten it Actually this morning it was Higher I think yeah, it was no it was last night. It was up at 25. I watched it. I saw it Wasn't wasn't good enough to go long can't short this here. It did gap up just failed No, I wouldn't do anything with that No read on gps today to trade baba is This was the move this was first of all, let's talk about this This was very unusual. It did end up getting bought it ended up getting bought because the market held a day And it got bought here over the high. I did not like this in the morning to go long I didn't like in the morning to short after it moved up to to aggressively over 8 118 Which I said in the morning then we got off of it, which I'm glad I'm glad that we did I don't remember the last time I saw something like this I mean being aggressively bought that after a gap down like this and the gap up the next day If I thought that this was something great, I would have called an option in it. I don't I did not like this I don't know what this does here. This is acting strange I think it's very strange that it flipped the way that it did yesterday It didn't have a market with it, but I don't know Gapped up today and I didn't call an option in this and I saw the gap up. I could have I'm not I'm not crazy about this here Uh, Duvance is in an option from the one I previously called out longer And and you made out here in this because I had called the 120s, which this flew over the number But you know if I had done it I would have been out here And then you were down in here if you out of the trade and flipped through went through the strike Then very good, but obviously I mean there's something this is I don't know what to do with this here This was weird the way it got down and failed and flipped and then gapped up And I haven't seen it like this since I can't even say but remember this is another one of these It is not out that long. This is only out till the end of 2014. We don't even have three years of data history in this It's hard to read something like that. This in here was very easy for me to read and this was the huge trade that everybody did And I called a good one in here, which people did too today. I don't I can't say what this does here Obviously, I can't and I'm not and I and I didn't so I didn't call it So no, I would not go along that you have to do stuff that you can predict not everything is predictable Not every gap up you can go long and not everything that gaps down. Can you short fyi cpp this rated good today? But then it never set up lain open So then we didn't do it, but I watched it it could have it didn't is it still lower? Yes Can you go can you go short this today though? No what I go along this today though? No, no No Most stocks in any given day. There's actually not no play in them nothing to do And I know people are desperate to do different things. They want to trade all the time The day that the market did this move. I can't tell you how many people texted me or emailed me or called me Where's an option trade? Don't you have any trades? Is there give me a trade? Hurry hurry hurry. I think people thought it would call everything to fall And call all these puts that night. Was it wednesday night? Yeah Yeah, it was wednesday night And and wednesday afternoon because I said the market would have a big sell-off But I didn't call a million shorts. In fact, I didn't call any any at all then that day and and and I'm glad I didn't they all would have failed If you were looking for any kind of pullback Like an amazon because remember it let's pretend this didn't happen If you were looking to do any kind of put to down here or This was the day here This was the close of the day if you thought this was gonna come all the way And I mean people wanted me to call stuff I said no, I this I don't see it and then it didn't do anything And then they all would have lost and I didn't call any of them And I'm really glad that I didn't so, you know, you can't just Think that every gap down is a short or going to follow through or vice versa for the ups And look at this spy here But anyways, it goes back to the point that I was trying to make earlier That's why you learn a strategy and a system and a method that you can use to predict it because you can't just go Long every gap up and get short of a gap down You can't go long every news pop on a low float stock You can't if it was that easy to train people we would all know would ever lose I mean, it's just like saying well, I buy support in every move an average when it hits the 200 per move an average I'm going to buy the support really well if you did that on a full locker you're down a boatload today You're probably bankrupt because if you bought support yesterday in the 200 per moving average a stock dropped and lost You know $15 overnight. So, you know, you can't just trade like that. It does not work It just doesn't it's not that easy. It's easy once you know what to do But if you don't know what to do it's hard But I think people just think they know what to do and they don't know what to do So they keep trading anyways Some days you lose some days you make money but if they look at themselves overall they're down So then you obviously something's not working Trading is a skill and you have to have a system to apply each day to use consistently to for profit If you do not have one Then you don't have any skill at all reading the chart Is something that takes skill and it's it's not about looking at the candlestick and a moving average Reading the chart with skill means that you can predict the footlocker today is going to work as a short and go to 50 59 And that's exactly what I did if you can do that you have a skill and you can duplicate it for the rest of your life And you don't need me Now i'm good at calling the entries and people do like being in the room for that The bottom line is you know You can you can learn which directional way to take the stock if you rate it for my system And you don't need me to call the entries you can do them yourself People like being here for that, but you know if you know the footlocker is lower You can play it any way you want swing trade day trade option, whatever I think stocks like this are better traded for For day trades same thing with sysco The ones that make it the ones that the ones that are fun to trade options So the ones you can make a crap load of money and really really quick and they also have a lot of time value Stocks that are usually typically very very expensive. This is one This is one This is one two And this just because it can move really big really fast although I called this very close to the stripe And apple doesn't look so great This doesn't look good here and this doesn't look so great either So Let's look at the banks. What happened to jpm? VRX i'll look at that cpp No, it's green I'll look at it But it's full on green This is recovering to here. Yeah VRX I don't know if you're long or short this but i'll look I don't know why you want to play something like this. We're you know, where's this gonna go markets bullish today This is what's the strategy here again. What's this? What are you here? This is a great example dj You said you're in this trade. Tell me why tell me the reason you're in this trade What's the strategy that you're utilizing today to short the stock? I'm guessing you're shorted and I don't want to know why because it's red What's the strategy you're using to take the trade position that you're in today? You're in a position here. My guess is it's a short because you said the stop's 1351 But what's the strategy? Why did you take this trade today? Go write it in the room Tell me because if you can't then there's no strategy in play here I can't even guess what this is to be honest with you. I have no clue what your strategy is why you're shorting this here today But maybe there's something you know that I don't why are you short the stock? You tell me that and I'll look at this for Koala bear. This never had a set up. This never had a set up That's what i'm talking about. This did not open till here rallied up. This is too big of a rally to shorten here So no and it's green and look at it. It's a beast. You can't short it Your risk is 10 cents, but you're not giving me the strategy What is the strategy in play here that you're trading in the stock? You're a shorted position. Why? Write it in the room Because if you can't tell me why then you don't have a strategy then you're just taking trades willy-nilly That's dangerous In a gap down failure a day which ends in a green bar Okay, let's go to sysco Or one which recovers from the previous day's close or low. What's your question journey woman? Cisco ended up having a baby green with a tail I wouldn't say that's failed. It just didn't follow through cpb fail. Here's a better example This is a question Is a gap down failure a day which ends in a green bar or oh, oh, it's a question. Okay No, you can't even say that 100% why because sometimes we short a tail and then it flips Gosh, I can't even think of one right now, but there's a million It was htz one There was one that we did that we shorted that we made money and then flipped and then bounce and them in a tail And then close green and it wasn't a failure because we made money and we get out in the tail So no the answer is no Here we shorted this close with the tail and close green not a big green, but we did that trade Um, there's there's other ones with bigger tails This here you can't tell this pretend you didn't watch though. You can't see the one minute chart We know what happened this did not have to happen in the time that it did this happened in one bar at 9 30 The stock had this move it opened at 31 10 and dropped down and made the low at 31 38 in the first 60 seconds of the day You can't tell that from looking at the daily chart, but I know because I watch the stock trade We there's a bazillion days in our lives that we short this and it does not happen in 60 seconds And it happens in five minutes or maybe 10 minutes or maybe 15 minutes and we get this move But not yesterday. That's not how it looked, but there's a million that do this and they're not failures So no the answer is no to your question And you know dj you still didn't tell me what your strategy is here No answer from you Uh, you thought cpb was still a gap trade it was it was a watch it was a gap That rallied retracted small rallied Small and then dropped Okay, but you can't short it. So I don't know what you want to do here I would describe this as a failure today to short as a gap down It rated good enough to short never set up failed If it doesn't set up to me it's failed so You know You can't short this and you can't go long it to me. That's a failure No directional bias to trade this on the day. That's a failure to me What what exactly is a gap failure something that rates well that never sets up That you can't short and you can't do or something that rates well that does set up that you get stopped in and fails And it really fails and you can't do it. That's a failure too Does that make sense? A gap failure is when something rates well enough to do and it never sets up or it Sets up and stops you out, but it should have worked So what usually happens with those they usually follow through then the next day or later in the day I said we were going to look at that yesterday. We didn't have time, but we will sometime in the next month, but That's what a failure is a failure is something that should have worked and didn't The day of the gap Whether you took the trader it set up or not it was a failure if it didn't work and it should No, you can't you'll write exactly you'd have to go back and look at this here Well, you'd have to know how it's stock traded And this just lifted up here green maverick. What are you doing in this this one over 65? Anyways, dj isn't answering me, but your bottom line is you got to have a strategy to trade something. That's the point You overbought the stochastic on the daily You're just giving me indicators. It's not a strategy That's like saying you bought it here in the eight period moving average, which is the black line Are you shorted it here in the eight period moving average in the black line? You're you're just talking indicators It's not a strategy I just got done talking about that. You can't say I went long a stop because it held on the 200 per moving average That's not your strategy. It's not a strategy It's an it's an entry Describing to me the entry but you're still not describing to me the reason that you have 100% conviction This is going to fall today because you can't do whatever versus any kind of indicator every single day Consistently again, this is the same thing we've been talking about Otherwise it'd be a heck of a lot easier to make money in the market I'm going to show you one thing here, and then I'm going to let everybody go. I got to go by 10 30 I have an appointment. Um here. I'm just going to make this really I'm going to I'm going to show you something here Look there's nothing there. I have no indicators at all I have I have the price because if I get rid of that we can't see what's happening So I have the candlesticks there with the price What are you going to do if you're trading based on a some kind of indicator You would freeze like a jackrabbit and never be able to trade again but I could I could look at this here, and I could tell you the footlockers lower But there's nothing there's nothing on it. I'd say this is lower today, and I could even tell you the targets So when you get to that point thing, you know how to read a chart Green maverick then take it easy You know if you want to do this here in the 15 minute you can I don't know what time that sets up if you want to stop for the day fine I'm sorry. I didn't get the first trade in this This is probably going to set up again if it didn't hold in the five probably the 15 minute But the market is bullish and you got to be aware of that. I don't have everything else free to do today As far as this goes you got to be on top of these ones here in the morning And I was late in this today, but I didn't hesitate You can watch it for the 15 minute if you really really want to I do think this gets down to 58 if it sets up in the 15 minute the five minute didn't hold and I said it was a kamikaze I know you didn't get the first one. I'm sorry And I and I hesitated because I didn't get a great entry in this, but at least I got it Sometimes you just go with it. You're watching the trading action. You rate the gap you get the confirmation You just do it CCI divergence and 15 minute chart use a lot of indicators. Yeah, so that's the That's not a good way to trade in my opinion. You rely on a lot of indicators But if you do it, that's fine. Either way, you still have to have a strategy You're still just describing to me indicators if you have 27,000 indicators. It doesn't matter You have to have a strategy a reason for taking the trade. It's not because five lines intersect At a certain point that still isn't a strategy You gotta learn the difference between reading indicators and a strategy If you want if you really want to make money By the way, nice move up cpb and an f out. Okay Yes, I teach how to the 26 points is not based on indicators I teach the 26 points, which is how you read a chart now. I lost this year. I got to get back to it. Hold on Well here, I'll just make this the daily And then I gotta I gotta go people Listen, if you're interested in the class though email me The 26 points are not based on indicators. You will learn how to reprice action In the gap That's all we're doing here is the gap like here was a bullish gap. You could have gone long here this day Here was another bullish gap. You could have gone long here this day This is footlocker where I'm going back last year 2016. Here was a bullish gap You could have gone long this day. Here was a bullish gap. You could have gone long this day Here was a bearish gap A couple days ago could have gone short there. Here was another bearish gap This was a good one too could have shorted that too. Here was a bearish gap here today Could have shorted it. We did now I don't know the reason for all these gaps actually three days ago this gap down because of the market like everything else This one here is a big sell-off. I don't know the reason for that day Some of these in here. I'm sure this is probably earnings last year in august Some of these in here are some earnings gaps. I'm sure Today was earnings Three days ago was the market So you can look at all those long ones and you can look at all the short ones, but not all are good I could point out a million in here. I'm just pointing out the ones that I I see are good So yes, I do teach how to read charts in the gap class And my charts are very clean I don't have a lot of indicators, but the point I was trying to make to dj is he's in a trade and And he can't tell me why without talking about indicators And I don't think it's a good short Bearish candlestick signal in a five-minute chart again. That's a setup. That's an entry. That's not The candlesticks are indicators. You're talking about a candlestick. That's another indicator time is an indicator Volume is an indicator candlesticks are indicators. You got to tell me something. That's a strategy yet to do it That's not a strategy I'm just trying to help you Anyways, have a great week and everyone email me if you're interested in the class. I will Talk to all of you later and enjoy your day Good job today and full locker everyone You're welcome Volume is another indicator dj. You keep giving me indicators Tell me the strategy You're welcome Great info. Thanks