 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. Welcome to another edition of the AccessToTrader.com nightly wrap-up show. Hope everybody is doing well. Very, very aggressive day today. We'll talk about the individual pivots in a second. I want to talk about something that could affect a lot of people, all the traders actually, in a very, very near term. I want to give you a date. In September 15th, 2008, why is that day important? Lehman Brothers claimed bankruptcy. That was the most aggressive bankruptcy, the largest bankruptcy. I think it was like $650 billion bankruptcy in US history. Now, why is that important? Four days later, September the 19th, the Securities Exchange Commission, they banned short selling. They banned short selling on financials from September the 19th through, I believe the date was October the 2nd. If you can Google that, you'll probably get a little bit better answer. The reason why they banned short selling, they wanted to make sure that the market, although it was in complete freefall, was in complete disarray. There was just a lot of fear, really a lot of fear at that time. They believed that banning short selling for a short period of time, that it was at least going to stabilize the market. Stabilize the market so the naked bear rates wouldn't continue on financials. At that time, again, I think it was like 1,000 or 800 financials that you couldn't short. It even at some point got to the point that you couldn't even short any spies. I think I mentioned that in a couple of videos. But the reason why I bring that up, a couple of days ago, two, three days ago, again, you started hearing kind of murmurs. That short selling will start at least beyond the table. Again, this is a pretty aggressive freefall in the market. Although the market bounced back 1,000 points today, keep this in mind. We were down 3,000 yesterday. So the fact that we ran up 1,000, doesn't do anything. Absolutely doesn't do anything. Somebody asked me, when do you think the bottom is in? My response is, look, we still don't know exactly what this coronavirus is. Again, I've always maintained the fact because of social media and because the quick dissemination of news, every little headline, I think, yes, is fear being broadcasted much more aggressively than years ago without social media and without the instant notification of news? Absolutely. But again, we still don't know what this is yet. If you look at the bond market, the fixed income market, the yields, they're really, really aggressive. They're really, really spreading this ridiculous volatility. So between the health scare and the fixed income and all that stuff, in my opinion, again, I'm just one humble guy's opinion that's been doing this for a pretty long time. I think we're still in the first inning. We have to figure out exactly what this is. You saw news today. I forgot what company it was. Was it Regeneron? REGN? They believe maybe by the summertime they can have it. Whatever the case may be. But again, we're still in the first inning. Don't be fooled by any market rally. We don't know what this is yet. We don't know. So we're not anywhere close to a bottom. This is exactly on the same line as we've been talking about for a while now. You're going to see 2,000, 3,000 point sell-offs, 1,000 point rallies, 2,000, 3,000 sell-offs, 1,000 point rallies, 3 step back, 1 step forward, 3 step back, 1 step forward. And if you told me right now, and again, I told my kids that, there's a shot. You won't go back to school this year. There's a shot. Right? Think about it. We're in March right now. We don't know what this is yet. We're still not under mandatory quarantine or whatever the case may be. That surely has to come. And for all you people again, taste St. Patrick's Day. If you're going to a bar and being there with 100 other people, what is going through your heads? I mean literally, what is going through your heads? You have to stay home. You have to stay home. That's the only way, once you start seeing China stabilize and quarantine everybody and nobody's allowed to go, that's when their numbers started slowly, slowly. You have to stay home. That's the bottom line. You've got to be a grown-up. You have to be an adult about this. Again, you don't need to drink your brains out on St. Patrick's Day. If you want to live your life, we need to actually get through this. So stay at home. But people won't, right? People won't. And again, on Instagram today you'll see people hugging each other and kissing each other and drunk off their minds because again, today St. Patrick's Day and you have to drink. Okay. And this is why again, we're nowhere near the bottom. So the idea of this is going to go away, it's not going to go away. It's not going to go away. But the markets are trying to at least try to express every avenue, explore every avenue to kind of stabilize things. It will short selling if they do believe, they do instill a short sale ban eventually in the U.S. markets. The way I look at it is a couple of ways. I'm going home flat every night. The gap downs for me are godsend. Okay, if you've been watching this video every single day, that's where the value is. That's where the biggest value to the upside is. And I was just thinking out loud, if this does come into fruition, can you imagine a world, right, that you couldn't short Tesla and you couldn't short Netflix and you couldn't short Alibaba and you couldn't short a video. Can you imagine a world that the market gaps down 900 points, puts in an initial candle, right, and then confirms it without short selling? That's all I'm saying. Again, life is all about how you look at things. And again, is this thing going to be bad? Is this thing going to be good? Again, it's all about your individual process. The way I look at it, two things are going to resolve. Maybe this does instill some sort of stabilization down the line. And two, just from this selfish point of view, the idea of putting on a long pivot without an initial short on the other side of my trade doesn't sound too bad to me. But again, it's an avenue that they will obviously watch. It's something that has been done in the past. And just to understand, in 2008, when they did this, there was only a two-week window. It was from September the 19th through October the 2nd. Again, please don't quote me. I don't remember. I know they put it out there that there was another grace period, I think another 10-day grace period, but not more than 30 days after that. So I just don't remember. It was just such a long time ago. But if you Google that, I think you'll get more clarity than I can tell you. So the ban initially was for two weeks. I just don't remember if they extended the ban after the two weeks. But I know it wasn't for a long time. So it's something that, again, if you're a new trader, everything is going to affect you. Short-sell bans. Again, one of the questions was, will inverse ETFs be affected? So for example, like DOG, if you're a long dog, I think you're betting against the diamonds of the Dow. And there's a lot of inverse ETFs. So I don't remember. You have to Google that and kind of figure that out. But again, the natural short-selling, if it does come into fruition, look, it's going to be a part. I think overall, we could get around it. If you're a trader, you could get around it. Again, I don't know how the options market will be directly affected. Will the spreads be wider? Probably, will the premium to the downside be juiced a thousand times? Yes. But again, they're trying to stabilize the markets. Artificial, organic. At this point, it doesn't matter. We just want to get some sort of stages of stability. From the trading aspect, again, the formula every single day, guys, it's the same thing every single day. For me, the easiest thing right now to do is go home flat. Go home flat every night. It doesn't make a difference. The ranges expanding in this type of market are so damn aggressive that you really don't need overnight exposure. You really don't. Again, just like I've been saying for video, after video, after video, it's literally rinse and repeat. If the market gaps down, the value is to the long side. If the market gaps up, again, we've been talking about this non-stop. Stocks will hit supply, and initially they will come in. Anybody who buying supply, again, it's all about the whole PS60 theory. It's about supply to supply and demand to demand. If stocks gap up into supply, what do you think is going to happen? Again, today we talked about this initial value is on the short side. We gapped up today, and I joked around. We gapped up like two, three hundred points, and I said, that's the new flat. Two hundred point gap up is like flat. We rallied up three, four hundred points in the first five minutes or so. I said, look, the initial value is on the short side today with this gap. Let the channels develop. Let them confirm. Use second entries on everything. Cash roll along the way and break even as stops. Again, we started tentatively talking about the short sale ban. That's why I said any short position you have, put an immediate stop and place just in case. Again, there's any type of validity to any type of short sale ban. The last thing you want to do is not have a stop. You will get absolutely run over. Absolutely run over, and the last thing you want to do that, the last thing you want to put yourself is in that situation. Today, it played out perfectly. I said, here's the last four figure relief rallies we had. The gap, here's the gap. The early long trap, the guys who are chasing the gap, the hard fade, trap late shorts. We saw that today. We went from literally up four hundred to down two hundred. You guys remember that? And then we went red, green, red, green, red, green a hundred times. We did the gap up. They trapped early shorts. We faded hard. They trapped late shorts and then we closed at highs. This is exactly what happened. It exactly happened that exactly today. And again, you don't need that. You don't need to guess anymore, man. These channels are very, very specific. There's only six channels throughout the day. And what you're looking to do is capture as much of the meat of that channel. And again, if you look at these pivots, they've just been, again, this market, and again, I don't want to diminish what new traders are going through. I sympathize with you more than anybody, but understand this much. This type of market, if you are an experienced trader, it's really, really good because you're getting crazy expansion. If you are a trader less than two, three years, this is a nightmare because all you're doing is chopping yourself up. Because again, there's no rhyme or reason because there's a good chance that you are still trading off daily charts, which again, we've been talking about this in nausea. They're damaged. They don't matter anymore. It's all about headlines and it's all about confirmation. So if you look at today's session, pretty damn aggressive. So let's talk about. So these are the two pivots I put on the short side, right? Remember the whole thing, initial value through the short side? Roku never got down to the 58. Went down to 58, 58, 22. I actually caught the trade to the upside. We'll talk about this later. This is the pivot that started the whole day. So Tesla, 434, 430, these are two areas of support. If it confirms both, excuse me, I can't even read this morning this afternoon. If it confirms both, can't see 414, right? 430, 414. Look what happened to Tesla, guys. Look what happened to Tesla. Let me just move this out of the way. So here was Tesla. Here was Tesla. Here was Tesla. Here was the 434. Here's a 60 minute view. Here's the 434. Here's the 434. Here was the 430. The stock got destroyed. Absolutely destroyed when down to 400. Huge move. Absolutely huge move. And then next thing you know, the market trap, just like they said, they went from red to green 28 times. Bids started to get firmer and firmer and firmer. And you saw the rally come. Again, you see these rallies coming because when you get to 3,000, 4,000 points down in two days, you know it's going to come. You know the relief rally is going to come. You just have to be really, really concentrated for it. And then next thing you know, all I did was literally put long pivot after long pivot after long pivot. Just like yesterday, one after the other, just monster moves here. So, Amazon, huge move. 1779, 1780 needs to build. Here was Amazon. Right? So here's, you see this guys? You see this all right here, right? 1779, 1778, 80. Once it started building, I mean, the damn thing went to 1857. Ridiculous move. Ridiculous, really good move. Netflix, rejection at supply this morning needs to reclaim and build. Right? 312. Right? 312. So here's 312. Right here. Right? Here's 312. Explosion. I mean just absolute explosion when it's highest, the 323. Beyond. Beyond doing anything. I wasn't watching Beyond. Beyond 65 that he didn't get there. 65. I wasn't even watching it. Yeah, 65 went to, yeah, 6589. Didn't really do anything. I wasn't even watching that. Clorox. Jesus Christ. In my wildest dreams, I thought for myself, and I said this in the room today. I said this in the webinar. I said, yeah, you know, if Clorox builds, I forgot who put this into the channel today. Somebody in the live webinar. It wasn't my idea. I mean, I know it was Clorox Wipe. And I said, yeah, you know, maybe you could get a couple of bucks out of this thing. Right? I said 179, 17920. If it builds, I said Clorox Wipes. Okay, enough. This is your thing. So 179, 17920 needs to build on Clorox. Did anybody see this coming? Right? Did anybody see this coming? Here's a 79, 71, did anybody see a move coming to 205? Ridiculous. Absolutely ridiculous. The video needs to build. Here's a 206 on the video. Just when bananas, here's a 206 on the video. You can see this how many times, right? 206, 206, 206, 206. It finally confirmed the 206. I mean, the damn thing went to 220. Crazy. Right? Roku, Roku. I traded Roku also. Roku's 6255 needs to build. The first move was only like 70 cents and it came back in. And then it remounted at 6255. And I mean, at some point, right? At some point I turn around, I go, did Roku like cure the coronavirus? I mean, the damn thing went from 62 to 75. I mean, it's one damn candle. Just insane. Absolutely insane there as well. And again, here it is. Tesla, take on the way down. Huge. Here comes 414. Clorox, big move. Alibaba, right? Alibaba, 184 needs to build. You can just see this over and over and over again. Alibaba, 184 needs to build. Explodes, right? Here's Alibaba. Here's the 184, right? Here's the 184 and it's exploded. Went to 189. Alibaba, and the video obviously to the downside. Oh, excuse me. The video did get back to, this was actually the first pivot on the video. We were looking at, this was the first pivot on the video. I totally forgot about that. 194 needs to flush. This is the first one right here. Here's the 194 and actually got down to the 191 area. So there was two pivots, 194 to the downside and 206 to the upside on the video. I totally forgot about the downside pivots this morning. Right, take on the way down. Great. I think good value was an understatement. Okay. I think good value on the understatement was really an understatement. There was some really, really exceptional action. Again, for all you guys who've never seen pivots again. There's gentlemen right here. Don first trade with the PS-60. I mean, yeah, that's the whole point. These pivots, there's nothing random. Once they confirm, they do incredible things. Here's 206, take to the upside. A lot of good stuff. I mean, Alibaba take to the upside. And then all of a sudden I went from good value to phenomenal action. And that's what it turned out to be. 186 on deck. A shop, right? Shop, 345, right? 345 needs to build. Here's shop. Take on the way up, right? 355, 356 on deck. Now I went to insane action. Insane. So, yeah. I mean, it's a shop. Here was a 345, right? Here was a 345 and it went right through here. Went right to the 357 level that I said was to me supply. And again, and here it is. If anybody looking for an afternoon trade at this point, I already logged off. I went to play basketball with my kids. Again, I've been playing basketball two times a day now. Just tell us the only thing you do. So I said, if anybody's looking for an afternoon trade, Tesla 420, it helped two times if it builds below, it can flush, right? So here was Tesla. Again, I was in this trade. Again, I went to play basketball. But here was Tesla, right? Here was the 420, okay? Here was the 420, held 420 twice. And here's the afternoon cash flow, 420 to 415. So if you did take that trade, great job. I was already logged off. But again, excellent value today, same game plan tomorrow. If we gap down value to the upside, if we gap up value to the downside business as usual. So, again, you know, right? Again, it's just all about value. It's all about experience. And again, if you're a new trader, right? If you're an absolute new trader, again, a bull market's going to be hard for you. Because again, you're not used to price action. You're not used to, you know, you're not used to your brain trying to understand fully what's in front of you. And again, our mind, our brains, our heart, our emotions, they were never programmed to go through something like this, watching your money go up and down, up and down. So if a new trader is number one, like I've been saying every single day, you might want to stay out. And for all you guys who are trading, turn off your P&Ls. Just turn them off. It's all, again, if you're concentrating on the money, you're already behind the April, okay? Concentrate on the process. The money comes organically. Again, nice and calm, trade value. We don't, you know, we don't trade because the market's open. We trade because we have value. Guys, God bless. Stay safe. Wash your hands. Stay at home for God's sake. And with God's help, I'll see you all tomorrow. Take care. 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.