 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, giving everybody welcome to another edition of TheAxisToTrade.com Nightly Wrap-Up Show. I hope everybody had a good day of trading, some good value today. Not as much as you would think as far as quantity. We'll talk about that in a second. Again, we say this all the time. It's not a matter if the market is open. If the market is open, make sure you're getting the value. And today is a perfect example of why trading channels, and again, if anybody's been watching this kind of broadcast for a while, you kind of know that the PS60 has nothing to do with daily charts. Yes, daily charts are very, very important, and they will give you the opportunity to see a macro picture. But at the end of the day, you can take advantage both on the bottom range and the middle range, what we call quote, unquote, the sneaky pivots. And when you get an aggressive move like this in the markets, and again, you look at the scoreboard, you know, it looked pretty bad, right? You got almost 2% losses pretty much all across the board, a little less on all the indexes, but more or less, you know, you're going to have a lot of really bad looking charts. And the problem with the initial technical damage of any type of market, and again, again, this is, you can call this the coronavirus reversal, whatever you want to call it, right? Whatever you want to recall it. The most important part is when you get a market that's going up in a very, very aggressive, linear way, and you're going to get the initial early stages of a downward type of sentiment, you're going to, it's going to take a lot of time to get very, very clean channels to the downside. Because again, most charts are way above their 200 day moving average, 100 day moving average. So you're, it's going to take some time. So a lot of people, for example, a lot of novice investors say, well, wait a minute, when the market goes up, the market's up 100 points is by the market. When the market's down 100 points, the short the market doesn't work that way. We all know that. So it does take a lot of time for charts to kind of play themselves out that you can have a technical point to the downside. And when you look at today's action, and especially, you know, just to give you a perfect example, when you look at today's action, you'll notice, again, my comments here in the morning were, well, the value today will be to the upside. Again, when we had a 400 point decline, again, the spread of concern is obviously, you know, scary. Right? We discussed this on last night's video. You know, a lot of people that have nothing to do with the market are getting nervous. Okay. And again, if we believe this will be contained over a couple of weeks, or at least some of the worrisome comments are going to start dying down in the next couple of weeks, then this will turn out to be just kind of a blip on the radar, just like every other health concern we've had in the last several years. And again, like we talked about in the last night's video. So it's very important, you know, speaking from the technical point of view, from the trading side of it, is to put yourself in a situation that you could take advantage on both, you know, the long side and the short side. And again, when you have a 400 point decline, and we discussed these levels, you know, we discussed this level last night in the video, this, you know, 221, 60s level. This wasn't even a conversation today. Okay. The bad part what the market did today, although it wasn't one of these thousand point declines, which again, the market could easily do at any time just because of the in nature of the aggressive focus of how much the market went down. From a bullish point of view, from a quote unquote, half glass full point of view, you could turn around and say, Well, you know, it wasn't that bad, the market gap down, it kind of sat in a range. It did attempt the rally, and the market did stabilize some sort of aggression from the bear side, right from the bear side, you could turn around and say, Well, wait a minute, you got, you have all this wall of worry. Okay. Okay. People are starting to get sick. They're finding cases now, pretty much, not only in China, we're getting more cases, a couple more cases, I believe, in the United States, the market has gotten linear, the market needs to pull back, it has to pull back. This is a reason the market pulled back. And again, from the, again, from the technical point of view, this is the first close, okay, first close underneath this rise in support. Again, if you believe in the theory that stocks trade from supply to supply and demand to demand to demand, well, this is the next layer of potential measured potential. Again, nobody wants to talk about, it will get there. This is, you're talking about another eight points on the queues. But again, is it possible? Of course it's possible. Again, just by the nature of the aggressive move that we had to the upside. So I think this type of market will give good opportunity on most days. The problem is most traders don't trade the stocks with the biggest range. What they do is usually trade the stocks with the hottest news, right? So if you look at, for example, today, what's the quote unquote hot stocks, right? These, these Corona plays, right? This APT and this, what was it, Lake and Shmake and NNVC and great, you know, this is your thing. If you want to chase these things, if you want to short these things, God bless. The last thing I'm going to do is being a retail environment that people are chasing for five, 10 cents at a clip, you know, putting ridiculous risk on for very, very small reward. That's not my game. But what is our game is we trade, again, continue to trade the same names that just happen to have the biggest ranges, the Tesla's of the world, the Netflix of the world, the Amazons, the BY and these. And because, because we trade these stocks, they have the biggest average true range on most sessions, right? And most sessions through any trading day, the idea of trading them when the market becomes more uncertain, less cloudy, more aggressive, it's not a, you know, it's not something exotic to us. So for example, a trading range, an average range on Tesla these days, it's not anything, you know, it's not anything exotic to me. It's absolutely normal. So when you look at an average trading day of Tesla versus the average trade of Tesla in this type of environment, will it be a little bit more aggressive? It will be. But again, it's not something that's crazy for us. It's absolutely normal and it's just business as usual, because again, we're not trading the company. Okay, we are trading the ranges, both to the upside, to the downside, and that's where we get value. And the most ironic part about today's session was as, as bad as it looked like, right, it really is bad as it looked like. And again, they took down a lot of really aggressive names today. Okay. But what I like, what I saw today was number one, speculation money continue to roll in. And if you see the call buying, right, if you see the call buying on Tesla, on BY and D, even names that haven't reported yet, the market is still giving the benefit of the doubt until those companies, you know, until those companies resort. So you're not getting this massive selling in Facebook, you're not getting this massive selling in Apple, you're not getting this massive selling in Tesla, because again, they still haven't reported it. Well, again, what happens after, again, let's not put the cart in front of the horse, but you have to like the least benefit of the doubt. Again, is that going to translate into higher prices after the earnings? Nothing guarantees anything. Okay. But these are, again, clues, at least clues from sentiment that we have to collect every single day to make sure that, again, we're thinking logically, not thinking on outside reality. And today, like, you know, like I said, I thought there was going to be value to the upside. The last thing I wanted to do today was short Amazon down 30 ahead of earnings. The last thing I wanted to do was short, you know, Tesla 20 down 25 pre market ahead of earnings, shorting beyond, you know, beyond ahead of earnings. So by the way, this is a very, very odd name. There was very, very weird dates all over the place. Somehow, some sources had BYND reporting today. Some sources had them reporting in February. Some sources had them reporting in March. So nobody's really tied down an actual earnings date for it. But that didn't, again, that didn't lead the aggressive buyers. Again, we saw today 130 call buyers, 150 call buyers, 160 call buyers, very, very aggressive. You had $15, $16 million worth of order flow, continued order flow today in Tesla. Okay, you had the 600, the 605, the 625s, all short expiration with millions of dollars. Like if you go on my, on my regular Twitter account, right, when you go my regular Twitter account, I think I tweeted out, I think I tweeted out here, kind of in the middle of the day, what we were seeing, just to give you, just to give you an example. Okay, just to give you an example of how much aggressive strength there was going into Tesla, right? Just let me give you, just to give you an example here. Yeah, I mean, this is just kind of like in the middle of the day, you saw the July 700s, and then you started seeing weekly, right, weekly expirations, the 6, I mean, look at the money, right, look at the premium, 1.8 million, 2.7 million, 2.4 million. So very, I mean, very, very aggressive call buying, continued in the name. And I'll tell you that the guys who bought the bottom today, okay, the guys who really bought the bottom today, down 25 points, down 20 points. They really caught a major, major bounce. And again, Tesla at one point was like 30, 40 cents away from going green. And that was the most impressive part. And if you look at the Twitter feed today, right, if you look at the private Twitter feed today, all this, right, this is it, literally three stocks confirmed today. But again, when we say this all the time, it's not how many you trade, it's how many you trade properly. So I want to kind of reverse engineer this. Here I screwed up with Roco, I'll explain to you in a second. This was the first pivot on Tesla, an incredibly aggressive pivot. You had 547, 50, 548. I said, hey, if this thing can build, I believe this thing could have got to like 552. And the first move on Tesla was incredibly strong, right? So here was the 547, right? Here was the 547 and a half, 548. First trade went perfectly right to 552. And then I tweeted out, I kept on tweeting in my personal account just to see exactly how stocks trade from range to range to range. And I said, hey, this thing can reclaim 552, it could go to 555, goes to 555. And then I said, hey, if this thing can reclaim 555, it could go to 559, goes to 559. And I said, the last one that says once it reclaims 559, there's a punches chance it could go to 562, 563. And look at the days high. Look at the days high, went to 564, just a really, really impressive move. Beyond was awesome today. I thought Beyond was a really, really good trader. Pre-market, we saw the news that because of their initial test with Denny's, now they're going to be available. I forgot what date it is. January, excuse me, I forgot what date, but they're going to roll out to 1700 Denny location. So 121, here it is, 121 needs to build. I was in BYND twice, they caught up pretty well today. BYND, we talked about that 121, 121, right? So this whole area here was 121 exploded, right? Absolutely exploded. And then I started tweeting out, again, if you go to my personal account, I started tweeting out levels on BYND. I thought it had a shot to get to 24. It went to 26. My second entry was off that 26 area. And I thought it had a shot to get to like 28 and change. I sold it, wait, let me sell my highs. My last one, it was like $1.60 or so. So that was fine as well. So I was pretty happy. I was pretty happy with the two entries in BYND. This is where I screwed up a little bit. So if you guys remember yesterday, we talked about the 128 breakdown on Roku. It opened up below like 126 premarkas. I already knew mentally I was going to chase it down. Again, not the way he chased it down, like a new trader would chase a trade. But I knew the lower it got, especially premarket that I needed to confirm, I knew it was going to be a more challenging trade. But I did believe it was going to get down to like the 123. I think I said 123.70s. And the problem was I missed the 28. I missed the 26. I didn't do the 25.5, right? I didn't do the 25.5. I started entering closer to 25 and it went down like 40, 50 cents and it just couldn't remount. It just couldn't remount in time. The buyers came back in and at the same time, which was a very, very annoying at the same time as the trade started to work, right? And started to coming back and started building a little bit of 25. You started seeing the 120 puts come in, right? Short-term expiration for the 120 puts. I said, all right, it's just a matter of time. It's going to go. And they just couldn't remount that 125 more aggressively. So I wound up taking an 80 cent loss, which if I actually looked back at the trade setup, and this was kind of bothering me as it was happening. If I looked back at the setup and just did a remount off that 126 level the second time around, I would have still been in that trade or worse case scenario, I would have been, you know, flat on the trade or maybe taking a smaller position because the damn thing an hour later went all the way back down to the 123 area. So kind of the point of the trade, kind of where I screwed up. And I wound up losing like 81 cents in the trade. It wasn't the end of the world. The point is the more I think about the setup, right? The more I think about the setup, I think I chased it down a little more. Even though the premise was right, I think I lost my edge once I started chasing it down closer down to the 125 area with a very, very small appreciation left. So kind of looking back at it, I'm trying to just try to voice my it's almost like therapeutic. I'm trying to voice my opinion speaking out loud. But the more I think about it, I think I kind of screwed up just by the interval shrinking in my exposure was getting bigger as the stock was getting lower. So something to kind of think about going into tomorrow's session. But overall, can't really complain. I think going into tomorrow will be the same kind of days today. You're not going to get very clean charts. But again, Tesla is one day before earnings. It's going to have a big, big range. BYND is going to have a big, big range. Let me give you guys a couple of names that are not beta that I do like for tomorrow's session. Okay. Let me give you guys a couple of names for tomorrow's session that I do like. Let's see here. Yeah, I kind of like this BT, BT AI for non beta names. I kind of like this thing. It's kind of going in this little pattern here. One, two, three, four, five, six, seven tomorrow will be day eight, almost two weeks of consolidation. If it could start building about 1785-18, you could get a push depending how weak or strong the market is. MNTA looks interesting as well. First close over the five day moving average. Again, it's very, very bullish. If it could reclaim tomorrow 2890-29, you might get a next leg up. And I kind of like this MCFT, right? First close over supply. I think if it could reclaim this like 1815-1820 level, you could get your next leg up. Obviously, please guys get into morning strategy early tomorrow. We'll talk about Tesla, obviously, and Netflix and BYND and Amazon and Facebook and everything in between. For all you guys are joining us tomorrow, please get to morning strategy at 9 a.m. Eastern time. We'll start out and hopefully we'll have another quality session. Guys, have a good night. Everybody, I'll see you tomorrow. 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