 What's up everyone? My name is Alex. I'm one of the co-founders of MyInvestingClub.com and I want to let you guys know about something special we're doing for our viewers on YouTube. So the most common question we get asked is, you know, how do I start day trading? So what me and my mentor about is we create a free two-hour mentorship course for the brand new trader. It's going to be available at MyInvestingClub.co. The link is going to be right here. This is a free webinar that reveals our 12 secrets that every single brand new day trader should know before they start. I also want to let you guys know about something that's very unique to MIC. So if you have any questions about trading or you're curious about trading or you don't know if MIC is the right fit for you, now you can text our head mentor, Tash, whose number is going to be right here and he'll answer all the questions that you have in less than 24 hours. Thank you and enjoy the video. All right, so it is, I don't know the date, got to check my phone, April 28, 2020. This is like episode 1,000. I'm on vacation and Brian's on the stock exchange. So we're going to talk about trading during earnings season. So before we get into that, let's jump into what happened today in the market. We're going to talk about the tweets, number one, two, three, four, five, six, probably the biggest ones that came out today that affected the market the most. Number one being when Fauci, I guess is how you say it, Fauci says the U.S. could be in for a bad fall. Could be in for a bad fall if researchers don't find an effective treatment to fight the coronavirus by then. COVID-19 is not going to disappear from the planet, he said, adding experts are learning about how the virus behaves, which is what a lot of us have believed. And that, in my opinion, is where the, it was just a delay of reaction in news. This, to me, is where the market finally took the downturn, right? So the market downturn right here in the morning was in this 9.55 AM candle, which this tweet came out at right about 10 AM market time. So that would be basically the end of that five minute candle right there. And as you can see, boom. So from there, basically everyone was, they lost hope. That was their losing hope candle. That was the losing hope tweet. Fauci said, no, we're in for a bad fall. This could really be bad. We're not going to have any, the WHO said this months ago, they said, we're not going to have a vaccine for 12 to 18 months, yet we're already reopening the economy. Texas is going to be like the fucking like spearhead at the entire experiment. My ass ain't going to be out there in that shit. I ain't going to be out there doing that. They're taking. It opens up tomorrow, I think. Yeah, it's, it's a May 1st. Is it May 1st? Yeah, I'm showing that. I'm going to wait it out. You let me know how that goes. Yeah. Yeah. No, bro. I ain't, I ain't getting out. I'm going to be on the beach. This is where I'm staying right here on the beach. So the number two was, and this is the one that we thought, I think Brian mentioned this too. This is the one that was really like the head scratcher that was like, really in the US house cancels plans for returning next week, citing virus, but hey, it's cool to reopen the economy, bro. But we ain't going to go back to work. The, the government's like, no, no, no, no, no, no. We're not going back. We're not going back. And yet here we are staring at this and we're looking at it going, what, what, what is happening? What is even happening? What's your thoughts on that? Oh, is that for me? Oh, yeah. I mean, I just think, uh, you know, it's kind of like you guys get back to work, but, uh, you know, we, we're going to wait this out and see how it plays out. Yeah. We're let, let the guinea pigs go out. Let all you peasants go out and about into the, into the streets and see how this goes. And then maybe so Google CEO, also another tweet today, Google CEO tells employees return to office won't happen until at least June 1st. So that's another 45 days almost another month and a half nearly. And that's an at least, that's an at least that's, that's probably an optimistic outlook is June 1st. And so if Google is not going to put people back in the office until June 1st, at least Congress and the US house and everybody else is not going back. Why are we reopening anything? It is, it's like, what are we doing? So they're number four, Trump, here you go. Here comes contradiction. Okay. Get ready for it. President Trump, the third and fourth quarter in particular are going to be, I think spectacular, spectacular, spectacular. Third and fourth quarters when almost every market expert has predicted that quarter three is going to be the worst in every scenario. Number five, US President Trump says businesses will be in good shape, says the worst days of the pandemic are behind us. The house is not returning to work though. Google ain't going back to work. Are the words behind us? Yeah, nearly one million cases, pretty much just round up to a million cases of this in the US today. Now, number six, here we go. Okay. So number four, number six are very similar. All right. Trump then goes back and says quarter three is going to be okay. It's going to be okay. Maybe better than okay, even though it's a transitional quarter. And then quarter four will be great. US will have a tremendous 2021, tremendous, tremendous, tremendous 2021 setting new records. Got the Trump hands. Yeah. The only other thing I've had to that is there wasn't data this morning on consumer confidence. And apparently it's the lowest since 2014. So just another, you know, what's going on today. But on the flip side, though, you think about all this negative stuff, good old market boy, just keeps on trucking. Yeah, that's here we are. Here we are again in the next, in the next point in the market has no care in the world about this. Now, the thing to point out here that is very interesting to me is the fact that this area right here, we continue to hold the bottom of this channel. So you guys remember last week, I pointed out that this trend needed to kind of flatten a little bit in order to be maintained a little bit better. It was this was like way too sharp. This was way too sharp. This was way too sharp. And now we flattened out. Okay. So now that we flattened out, we're in a better situation to continue to ride that up the top. But the fact that we can't really get back up here, the fact that in order to get to the middle of this channel is going to be right at the 300 mark, which is pretty much like I just don't really see spy going much further than that without retracing first. But we're just holding on to a thread because we continue to bounce off of the bottom. And the more times you touch the bottom of a channel, more times you touch the bottom of regression without, without touching the top first and coming back. That's a strong trend. This is a strong trend, right? If the chance if the market were to do that, that would be a strong trend. So the S4, will that be a buy the dip or with that trade on the S4? So for me, it's an ultimate target. So on a short side, it's the ultimate target as like when it gets there, I'm not going to continue to hold for lower. I'm going to take the money. Like if I've been able to hold through every piece, I'm going to be covering in pieces along the way at each pivot and the last pivot being like, it's probably going to bounce here. Like, and I, if you want to test going long at S4 when it has that type set, I mean, that might be a set up. I haven't personally tested it. Yeah, that might be a damn good setup is like range exhaustion. I could definitely see that having edge and maybe wait for the over under kind of thing because it's too heavy. I think on the long side, it would work better. Like if you're buying the dip on like a big first red day and it makes it to S4 on our four, don't short. That shit will keep up trending on you and it will just grind your ass out. Like, but on the long side, I've seen it happen a lot. And I'm at the short side on the short side. I've seen it happen a lot where it hits S4 and then starts to bounce with the long side. Dude, we actually tested like when it breaks our four. How far does it continue to go? Why is not worth buy a call and a put and let one offset the other sense loser will be only the cost and the winner should pay a nice return. Yeah, that's a that's a spread trade. Right. Yeah, I believe it's a long straddle. Yeah, straddle. Yeah. Yeah. Yeah. Yeah. The only problem is like if let's just say, for example, Google, right? So where is Google at? I guess you can back that's that right? I don't trade straddles, but it's something you can definitely back that's yep for sure. Like if you bought Google in the close like 1230 1230. If you bought a 1230 call and a 1230 put maybe see where was that a call and see where it is at open fucking chart. Holy mother. Yeah. So I don't I don't know. I mean, obviously if you bought the put into close, then it's worth zero. Right. Yep. It's the then on the call side, that 1230 call. I don't know if you have an options chain up, but I can have it up. Let me see real quick. But if you have an options chain up that 1230 call, you may have cost you 50 bucks or, you know, something, something insane. So would you pay $50 for an at the money call? I wouldn't, but 1230 at the money. 40 bucks is the ask. Yeah. So one call. That's for with a 10. Fucking hell. Yeah. So that's four grand. So I'll take 10 of those, please. Yeah. Yeah. Yeah, I'll take 10. So yeah, yeah, yeah. I mean, the put becomes worthless and and you you yeah. But the open interest, here's the thing I don't like about the Google situations. Look at all the open interests, man. There's fucking no interest in any of these. None of the like this entire column is open interests. And there is no open interest today. Tomorrow you're going to see this stuff like you're going to see these skyrocket. Right. I mean, these people down here, this one right here, this this $1,200 put right here, 16 by 20. This dude with there's $930 open and 930 open interest contracts there. That's going to be worth three bucks tomorrow. It was that this Friday. If that. Yeah. Yeah. Yeah, it's going to be worth three dollars. I mean, it's going to be fucking terrible. Well, I if there's no more questions, I think we're going to wrap it up there. All right, you guys have a good one. All right, guys. Later. Thank you so much for watching our video. If you want to see more of our videos, please subscribe to our YouTube channel by clicking the button here. We do our best to post a new video every single day. If you have any questions about M.I.C or any general trading questions, please text us using the number here. Also, stay up to date by watching some of our most recent videos right over here.