 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 everybody, good evening everybody, and welcome to another edition of the AccessToTrader.com nightly wrap up show. So remember that monster sell off yesterday on the close, right? If you blinked, you kind of missed it. Remember that one? Yeah, me either. Amazing. Absolutely amazing. We woke up this morning, yesterday, every chart we would do in the update, every chart was literally in the middle of their channels. And I was waiting for anticipating kind of a very slow, lackluster day of stocks trading in their channels. And when you woke up this morning, that sell off never happened. It just absolutely was a figment of everybody's imagination. And apparently, right, the news that they ran with yesterday, that mRNA, right, Moderna was sold the rally. Again, nobody even thought about mRNA yesterday. Nobody thought about it this morning. But yet again, the outlets are getting so leak as far as pinpointing the directional bias of the market. They just have nothing left to talk about. Guys, stop reading these financial outlets. They're journalists. As far as trading goes, it's a very, very small conversation. They look at macro headlines. They look at the squalboard. And again, the bottom line of what is happening here is the most amazing continuation of the George Costanza market, right? If you've been watching this video for the last week or so, this is what it is. It's the George Costanza market. Nothing makes sense anymore. The bulls are just absolutely in control. Even the weak names, when you try to get it short on them. And there was a pretty good short today on Netflix. We'll get into the individual pivots in a second. But it's absolutely incredible how impressive this rally is. And you almost have to say to yourself, man, if there was no COVID, right? If there was no economic closure, literally for two months, where the hell would the Dow be? 50,000? 80,000? Like what is stopping this market? And again, if you combine how impressive the market is and how they continue to discount companies giving them a huge mulling. And for example, Expedia, right? Came out with a terrible quarter. Horrible quarter, right? Everybody knew they were going to come out with a horrible quarter. The stock is surging after hours. Again, this is a market that's discounting bad news. It's being fueled by day by day headlines of slowly but surely a plan for reopening the government, reopening the way of life. And little by little, it's very, very tough to be a bear in this market for more than 30 minutes. Again, it's an incredible combination of the Fed pumping stimulus. And again, if you're a trader and you're suffering in this market, don't blame the Fed, okay? Don't blame the Fed. Don't blame the Algos. Don't blame the market makers, right? Don't get a crush on why there's a problem, okay? If you know they're pumping money into the Fed, why go against that trend, right? Think about that. If somebody's constantly backstopping over and over and over again, again, why are you taking the other side of that equation? So if you think about the discounting, right? The discounting of bad news, the discounting of earnings, the opening up of America and actually the world right now, it's really is incredible how strong this market is. And the more incredible part is nobody knows when this market is going to stop surging. And every single day, you're seeing the same leaders over and over again. We've been on Amazon for five days, you know, for five days. Ever since it broke out out of this, let me say five days, two weeks. Ever since it closed over this 23.62, I said this thing is 2,500 today. And 2,500 right on the dot. But again, it's not just Amazon, okay? If you look at all the players that are continuously really, really benefiting from what's going on, all these online companies, shop, again, close the 52 highs. Pretty good pivot on this as well. Too low, okay? Continues to go higher. Stone throws away of just literally a week worth of consolidation about to take 52 week highs. Zoom that everybody's counting out, right? And say, well, after everybody goes back to work, Zoom is, you know, going back to where it came from. Okay, Zoom is, what, five bucks away from breaking out. So it's incredibly important to understand what is happening right now. This market is an absolute runaway train. Now again, can you get some shorts in this market, some value place here and there? Again, we've been kind of demonstrating that for the last several days. This week, there was a beyond reversal, short-term reversal. But again, a beyond reversal. There was a too low reversal from the 187 level, all the way down to 180. It was a really good, it might be a pretty good pivot today on Netflix, which I caught a pretty decent amount on. You know, beautiful pivot on Netflix as well. But that's where it stops. Okay, there is no two, three, four day continuation moves. These things are incredibly aggressive right now. Buyers are coming in on every single dip level. And again, it's very, very tough to be a bear in this take for more than 30 minutes. Again, it's kudos to the bulls. Again, I'm not a bull, not a bear. You know, I trade channels long, short, doesn't make a difference. But I have to acknowledge, and I always say this, life feels better when there's a bull market. I think everybody can agree with that. People are happier. There's a feel good in the air despite what's going on in the world. So the fact that the market is incredibly strong right now makes things a lot easier to bear, especially for a lot of people who are trapped at home. But the most important part is, again, slowly but surely, whether you agree or disagree of the opening of the world of America, again, we will see there's a 2.0 in this coronavirus horrific pandemic. And again, unfortunately, I think there will be. But again, it's all up to the individual to say what's worth it. Is my health more important than my financial well-being? Again, it's all different. Again, it's much easier for me to say that because again, I don't have to leave my house. Again, I'm very sympathetic of somebody who needs a job, that has a job, that has to leave their house to feed their kids. So it's very, very important again, use prudent judgment. But again, at the same time, again, you have to feed your family. So bull market continues very, very strong tape. The strong stocks continue to get stronger. But I thought that there was a pretty good amount of pretty decent pivots today. I do believe, in my opinion, and this is where we have kind of a little bit of lesson for today, I think the most important pivot here was this Alibaba pivot, right? So here was the pivot. And I really liked this pivot last night. I liked it this morning. So here was the pivot. I want to show you what I'm talking about. So Alibaba, there was a beautiful, beautiful channel here. Everybody see this channel here? Gorgeous channel. So I tweeted out pre-market and I said, look, 2060 needs to build. It keeps on getting rejected there, right? So here was the channel on, let me just make this a little tighter so you guys can see. So this whole channel here, and I thought the stock had a shot to get maybe to 222 for a trade. So it finally gets above the 22060 level and it starts going higher. Forget about this for a second. So it starts going higher and it goes to 2115, right? Just whatever it is. It went to 21 area. So I got along the stock and I got along in the low nineties. So I got along the stock and the one thing that I always know, the most aggressive volume is always going to come on whole numbers. Because again, retail is entering, retail is exiting. Pension funds, mutual funds, they're all building positions. Usually you're not going to get David Einhorn to build his position at $220.37. He's not going to tell his sales trader, hey, you sit there and bid for four million shares of that price. It's usually going to be at a whole number. So you're going to get your most liquidity there. You're going to get your most aggression there. And I always said if you could quickly tell in the first couple of minutes, who has control of the pivot, right? Who has control of that level of area of interest in the first couple of minutes. And the most important part is if you're along the stock and the sellers keep on rejecting that whole number, you literally have two minutes to figure out who has control. If not, if you overstay your welcome, something usually bad is going to happen. Not this bad. And we'll get to the news in a second. But you're usually going to wind up losing money. And again, we're not in the hoping business. We're not in the praying business. We're not in the, let me guess where the stock is going to close business. We're trying to see once a pivot gets triggered and once there's a second entry for confirmation, we're trying to win our interval. That's it. Whether our interval goes up 10 cents, 50 cents, $12 or anything in between, our judgment is to make sure that number one, we're safe. And number two, that the area of interest keeps on getting built upon in that directional bias. If you're going long, obviously you want to see it over the whole number. If you're going short, obviously you want to see the directional bias. Being built under the whole number. So it was very, very important. And I kept on seeing, you know, I kept on seeing good buyers prior to the pivot. And we started seeing really good call buying coming. I saw the June 45 calls coming in. I saw the weekly 22750 call buyers coming in. And so I said, all right, this thing is going to go. It's acted well the whole day. And it triggered, I got along the stock. It only went up like literally like 20, 25 cents. And I sat there and I go, there's just something wrong. There's just something wrong. There's just something wrong. There's just something wrong. And again, the most mature thing you can do. And I've been saying this for years and years and years. It's not about being right in a trade. It's about being smart, being logical and using common sense. So when you see tons of stock being traded in the area and the position of the trade. The position and price action of the trade doesn't go in your direction. There's a problem. And the hardest part unfortunately for a lot of new traders to do is get rid of a good hand. Okay. In my opinion, this was a really good hand. This is a perfect range. I traded it yesterday. It was a really good move yesterday. I loved what I was seeing today. I thought this was a really good hand. In my opinion, I was holding at least jacks or better, right? So all you can ask for the only reason it's not a king or queen or an ace. Because the measure potential is only about $1.30. So it wasn't like a monster $10 trade. Then you'd have to say, yeah, I'm holding aces. So I felt that I had face cards. Okay. And the most important part is I just couldn't get that order flow. We couldn't watch that order flow. And this is why we always tell new traders, you don't need to be in a trade to appreciate order flow. It doesn't cost you any money to watch and sit at screen time to watch order flow. Watch the level to understand why there is no appreciation of price action. And once you get that understanding, and obviously it gets easier and easier to read order flow, read the tape as your knee deep in the game years and years and years. But this was an important part of what we do. This is an incredibly important part of my career. Because again, at this juncture, after two decades, it's easier for me to understand that there's something wrong with the pivot versus a person who's trading for two years, two weeks, two months. And again, all they're looking at is buys and sells, buys and sells, where there's absolutely no reason, anything behind it. So after two, three minutes, I just said, you know what? It's taking way too long. The sellers are controlled about $27. Let me sell it. I got out of a break even a cup of coffee. And literally five minutes later, you see two 15 put buyers come in. Two 15, two 10, and then all of a sudden, again, they knew. Guys, remember, somebody always knows something. There was obviously a seller in the crowd that knew there was news coming out. And the news that came out was the Senate passed a bill that's basically threatening the listings of Chinese companies in the future. What they didn't say in that PR was that their listing eligibility would only come into question if they lacked some sort of non-compliance or accounting issues for three years. We all know Alibaba is not going to have any listing issues that companies are monster. But again, it doesn't make a difference. This is a headline driven market. It should first ask questions later. And you just saw these really ugly moves, just destruction moves in Alibaba and Baidu, right? Baidu as well. So again, you know, it's not about being right, folks. I have been saying this to new traders all the time. I would rather be wrong and be safe than sorry on my read than be wrong, right? Then be wrong and then be financially implicated in the overall result of the trade. And it's just so hard for new traders to get rid of good cards because they love the trade. They love the stock. They love the setup. It's a 10-star setup. It's a four-star setup. And something in the crowd, whether it's a reload seller, a headline that's imminent, that's not being disseminated, whatever the case may be, is stopping the progression from price per share. And when you see a stock stall out, guys, again, I always say this, lead with your shield, not with your chin. Again, it's not about being right. The best trade is the one that you take back your money from the middle of the table and move on to something else. Again, the value in your account is not the money you make. It's the money you save. So I personally thought that was the most important read of the day. And obviously, the stock got absolutely destroyed. If you look at the rest of the pivots, some pretty good stuff here today. I actually lost a couple of, a little less than a couple of bucks on Tesla. I love this setup, man. I really did. This is actually, I think this was my first trade of the day. I think it was my first trade of the day. Tesla rejected eight, or was it my second trade? Excuse me. It was my second trade of the day. Tesla rejected 822 pre-market again and needs to reclaim 823. So I got long Tesla, and I thought this is it, man. This thing is going to explode. I got long Tesla, and again, this was another perfect example. There's actually two examples today, Tesla and Alibaba. Unfortunately, the only one on Tesla, I lost some money on Tesla. I lost about $1.70. But the point is it ran up, it exploded through the range, and it came right back into my entry. And I was like, well, something's wrong here. Again, something's wrong here. And I gave Tesla a couple of minutes, a couple of minutes. And I finally said, you know what? Let me get out of the trade. So I wound up losing $1.70. And the funny thing is the stock came in like $9, $10. So again, guys, don't be dear in headlights. You have to be proactive in the sum of the trades that you love. Again, and I love Tesla. I trade Tesla pretty much every day, sometimes two, three times a day. You got to get rid of good hands. And this is a perfect example of how you get rid of good hands when it doesn't feel right. And there's a reload seller, and if something gets rejected too quickly, you got to wash your hands and move forward. And that's exactly what we did. Other than that, some pretty good moves. You can see here, shop 766 needs to build. Big move on shop, closed right at 52 week highs. Again, yesterday was that big, big move. So here is a 766. And the first move went up about $8, came back in, reclaimed that number and closed right above the 52 week high of 775. This thing looks like it's going to $800, $810 if it confirms tomorrow's price action. Boeing obviously never got to the 137 level. NOW, I still like. It trades kind of funky. There's really no aggression in this trade, but I think they're going to pump this thing into the end of the week. Maybe tomorrow, Friday. This is now the highest close. I like the 390 area. Closed right at 390. This is the highest close in this whole formation. Maybe it gets going tomorrow. There's still 400 coal buyers all over the place. So let's definitely keep an eye on this thing for tomorrow. Maybe above today's highs. Maybe after cracks 400 could extend to 413. I still like this trade there. Roku, let's see here. Roku never got up to 120, 75, 121. I still like that area. Again, Amazon is still a beast. 2476 needs to build. Amazon closed right at the highs of the day, right at 2500. So beautiful move. Here's the 2475, right here. 2475 pre-market. It challenged that when right into the 2290s came in and obviously closed at the highs of the day. So big move there. Yeah, so this is the trade on Alibaba. I bought it. I gave it two, three minutes. It took a cup of coffee. Literally break even trade there. Again, you got to make good reads and you got to be very proactive. You can't be a deer in headlights. So again, continues to be a monster. 188, 75, 189 needs to build. So here was Tullo, right? Here was Tullo. Here was the 189, 75, 189, 75, 190. Just exploded, absolutely exploded. Went to almost 193. And this is like literally one day away from maybe testing all-time highs again. Again, this is a monster, an absolute monster. Zoom, again, very strong name. 174 needs to build. Here was Zoom. I still like Zoom for tomorrow. Closed pretty much at the high of the day. You know, ran up about a little less than $2. I still like it for tomorrow. If it clears out this channel, again, you might run to the 181 level. So I still like Zoom for tomorrow. BYND, quick pop here. Quick pop at the open. 143 needs to build. Here was BYND. Right, here's the 143. Right, here's the 143. Right over here, this whole 143 area. Went to almost 145. So nice move on BYND. Amazon, just a beast. 2490 first supplies. Take sales. BYND, take sales. NOW, again, only went up like four or five points. But I still like it. I still think it's going to go higher. Too low, take on the way. Yeah, here's my, you know, here was my better trade of the day. Netflix, 450. It keeps on holding. Again, this market is really, really tough to get value plays on the short side. But I keep on saying that five-day moving average is a monster-monster area. So Netflix 450 keeps holding. If it builds below, it can flush, and Netflix got killed. Really nice move. I thought it was going to get down to 40. So here's the five-day. It lost the five-day. I thought it was going to get down to 43. It traded down to 44. So big move, you know, big move on Netflix. Definitely helped things out today as well. A beautiful move. I like Roku. By the way, it never obviously triggered the 114, but if this thing starts building 114, it's going to get hit. BCRX. I think it went to 560. I don't know what the hell is going on there today. Tesla, nothing yet. I think that might have been it for the day. Oh, yeah, there was one more pivot. One more pivot under 446. Should see 443. It actually went down to 444. That was the second continuation move. And Amazon 25 on 100 on deck. So I think going into tomorrow, look, I think you have to give the bulls still the benefit of the doubt. I did see some softening today and some names. Again, is it profit taking? There's just a little bit of a resday. We'll see. But again, you could clearly tell the bulls are incredibly in control. Nobody knows where this train is going to stop, but the most important part is don't be naive. Okay. They could always pull the plug. They could always pull the rug. And the last thing you want to do is, you know, is be surprised by it. Again, always make sure you have one eye on the futures when you're putting on positions. Make sure there's no significant pull. Guys, have a great night, everybody. God bless and I'll see you all tomorrow. 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.