 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, good evening everybody. Welcome to another edition of the AccessToTrader.com Nightly Wrap-Up Show. The weekend update show actually, I hope everybody is having a good weekend, right? You can't have a great weekend anymore. I guess not how we are used to it at least, but again, you definitely have to make the best of things. I've been trading almost 21 years now. The last 12 years or so I've been trading at home. For me, the transition of self-quarantine and all that stuff, it's not the worst thing in the world because I'm always home. I'm literally always home, but yet today, around 3 o'clock, I completely ran out of things to do. I literally ran out of things to do. I played basketball already, we walked the dog twice, ran around my property, blah, blah, blah, blah. I had lunch and I looked up at 3 o'clock. I'm like, well, what the hell do I do now? But look, the bottom line is we have to be adults about this. I would kill, right? I would literally kill to go to a restaurant right now anything, to go to the mall, to go anywhere, like literally anywhere. But again, you always have to look at the bigger picture, right? You have to look at the bigger picture and you really do have to understand what we are up against here. And when you look at the death toll, especially the death toll rising in Italy especially, it's really eye-opening how crazy it really is. And again, our job is to stay safe, right? That's your only job right now. Again, when you take the market out of the way and unfortunately, because what is happening here, a lot of small businesses are suffering. Just around my town, you could just see, for the exception of supermarkets and pharmacies like CVS and Walgreens, everything is shut, right? Everything is shut. I have to double check. I know New York has gone to, I think New York has gone to some sort of quarantine. Pennsylvania as well, Connecticut, I think New Jersey, my son said something about it, I haven't checked it, is going into quarantine. So again, we have to do what we have to do to protect our families, to kind of stay safe. You saw all this news come out this week and the government is trying to kind of stabilize the situation, throwing stimulus money around, extending the filing date for taxes from April 15th to July 15th, even throwing the idea around of giving, I think it's anybody who's making less than, I forgot what the number was, 100 grand or 75 grand, giving them 1,000, 1,200 bucks, whatever it is, so they're trying to do everything. As much as everybody complains that everybody always has a problem, the government is doing this, the government is doing that, they're trying, okay? They're trying. They're trying. You could turn around and say, well, they could do more. Yes, everybody, I still have met that person who loves the government 100% wholeheartedly and loves everything they do. Everybody's having an issue, but they're trying. They're trying. It's not something that is an everyday occurrence. We've got to make the best of it. Again, our job, stay home, please. I can't emphasize this enough. Stay home. Protect your family. Look at the long game. Look at the long game. Like I always tell, especially brand new traders, not about, for example, what trading day you have today. It's all about what you've learned from today and what you're building for the future. Again, look at the long game. Forget about the short game. Sacrifice short term to live, to kind of live long term. So let's talk about the tape. I personally think, this is just my opinion, I think a lot of people in the live webinar would definitely agree with me. I think a lot of intraday traders would agree with me as well. I personally think, again, I'm not speaking from the long-term investor point of view. Forget about that. If you are a buyer of Amazon and you're holding on to this thing and watching this thing go down and down and then up and then down. Again, this is not really a conversation for you. Again, I think from the trading aspect, from the person who is coming home, going home flat every single night, waking up, dissecting the information in front of them based on how the future of the trading, formulating a game plan. I think this is probably one of the more premium markets we're seeing. I really do. Again, for me, like I said before, I've been working from home for about 12 years. It doesn't make a difference to me. As much as most people are going nuts after day two, this is week two plus of my family's self-quarantine lockdown. It's not mentally as hard for me as it is, for example, as a person who commutes every day and then trying to figure out what things to do. The most amazing part is, we trade channels. That's the whole point of the PS60 theory. We trade channels. The idea of coming home flat every single night and trading channels, this is nothing new to us. That's the whole point. This is nothing new to us. The range expansion is what we look for. That's what we look for every single day. The bigger the range, obviously, the more potential. The better liquidity obviously is more advantageous. But again, I'm not a child. I understand less participants means less liquidity. I always have to tear down my size on a lot of these trades because, again, you're not going to get the liquidity you want. If you get the liquidity you want, you don't want it because, again, any dip in the future, especially if you're trading alongside, any dip in the future is going to result in a very, very ugly situation for you. You really don't want to play that game as well. I've been tearing down. I've been responsible. And every single day, we're getting some really, really good opportunities. What's blowing my mind, I'll show you guys in a few minutes. If you go through my Twitter feed or even the private Twitter feed, guys have been trading for a year, a year and a half, two years. They're having really, really good success because, again, they don't know anything. Excuse me, I don't want to take the fact that they don't know what bad habits are. So if they started with me on a first slate, all they know is trading ranges is normal. So they don't know anything about holding multiple-day positions that are against you. It's all about ranges, all about confirmation ranges and waiting. So for them, they're starting out in a market that, although is very, very aggressive, and again, I don't want to minimize how difficult it can be, right? But at the same time, this is what we do. This is kind of our specialty. This is kind of what we want every single day, again, taking liquidity out of the equation. So for us, this is normal. So I go back to a person who is not an intraday trader, is not somebody who takes advantage of price action, whether they're long or short, in the middle of a session, to somebody that is, well, trading longer term. And it really is a concern. It really is because, again, a lot of people, I know every update, I keep on getting the same question. Is this the bottom then? Is this the bottom then? Again, guys, stop looking for the bottom. Again, if you look at from the technical point of view, again, we've been talking about this one-sixty level on the weekly chart and the queues for weeks before this market could stabilize anywhere. Anywhere of stabilization, we have to test that bottom range. It's not a discussion for debate. This is what has to happen. This is the longest term trend line that we can find, the longest term support. So with us at least challenging that longer term support, that longer term trend line, it's impossible to call a bottom. Again, it's like the old theory, and I've used this example over the years. This isn't a cartoon that the Wiley Coyote is going to drop an anvil on the road runner and the anvil is going to stop midstream right before it hits the road runner and then go magically go up. It doesn't happen that way. In real life, things have to test levels. Again, it's a very, very important aspect of technical analysis. Will they hold the level? Will they reclaim the level? Will they break the level? Will they start building? These are things to be determined, but at least technically understand there is a method to the madness of where a bottom can be at least acknowledged. I personally think that again, I've been saying this every day. You're not going to see anything even close to a bottom until the country goes completely quarantined, completely, talking about not leaving your house or just exercising. Everything has to be mandatory lockdown. Right now, we're looking at four states. As far as I know, there's a little bit more than four states in the union, so that needs to happen. I think based on what we're hearing and what we're seeing, in the third, we have a lot of room down. The Q's are 170. We need to at least get to 160. You could do the percentages on that. If you look at the numbers this week, the Dow was down 17.5%. This week, 17.5%. The diamonds have gone from 300 to 191 in one, two, three, four, five weeks. Five weeks. We have more room to go. This is a very grim reality. If you look at the monthly chart of the Dow, now we're talking about 151. For the market, for the Dow Jones to test any type of long-term intervals, you're going to see at least a 15,000 test. We're at 19,000. The way we're running right now, that could happen in four days. Can you potentially have at least a generational bottom at least tested? Give it till next week. Who knows? Maybe we're having a different conversation the start of next week, but again, these are levels that you need to understand they're there. Look at the spies. Look at the spies. The spies need to get down to 168. They're still at 228. Again, we're not at the bottom. If you're a longer-term trader and you love a position, at least have these things take place. Number one, test those certain levels. That's number one. Number two, you also need every state in the union to go on lockdown. That's another sign. We're going to get at least close. And number three, we need to see at least a stabilization. We can't have deaths in the world, like for example in Italy, 500 today, 800 tomorrow, 1400 the next day. You need some sort of stabilization. Whether you believe China or not that they've kind of flatlined that they're starting to open up store, South Korea, whatever the case may be, if you believe what they're saying, then the idea of operation lockdown is real. So I don't know why we're not doing this yet. I understand on the state level, states are taking the necessary precaution to do so. That's great. But why isn't everybody doing so? That's the biggest question. If the blueprint is lock everybody down for a month, lock everybody down for a month and a half. Yeah, we'll go stir crazy. We'll watch everything on Netflix. We'll probably kill each other in the process being home. Maybe go a little stir crazy. But hey, guess what? We'll be alive. So that has to occur. We have to go completely operational lockdown. Stores have to completely, I mean, you see every single day, this one is closing down stores. That one's closing down stores. Everybody has to close down for the exception of pharmacies, for the exception of pharmacies, for the exception of supermarkets. Again, nobody wants to see small business go away. That's not what it's about. But again, we need to live, guys. We can't die. Your small business surviving is only good if you're alive. So sometimes you have to do things to secure your future. So when I tell a new trader, for example, again, don't use this whole weekend to watch 19 episodes of Narcos. Look at charts, man. You want to get better. So again, especially if you're unfortunately going to be unemployed or fortunately home, because every business is pretty much making everybody work from home, again, you have two ways to make money right now. Go online to either some sort of online casino. Or if you're ready in the trading game, this is the time to get better. This is the time to get better. This is the absolute, in my opinion, one of the better day trading, right? Day trading environments you're going to have if you come in flat, because the ranges are so ridiculous. Stocks that are oversold, if they catch a bid, they put on good moves. I'll talk about the cruise ships in a few minutes from Friday's session. But every single day you're getting good opportunities. But again, you have to, again, long-term, think long-term, use this opportunity wisely. Use this time of self-quarantine wisely. Again, Narcos is going to be there tonight. Put in two hours a day. What else are you doing? Like, what are you doing today? After you've had your exercise, after you had your breakfast, you had your lunch, you played your kids, you played your dogs, right? You've done everything humanly possible under the sun to entertain yourself. It's time to put in some work. And I've said this so many times now. Again, you don't realize it now. If you're a trader for two, three years, you don't realize it now. This is the greatest time in your life to cement your foundation going forward. It's just a reality, okay? No picture of a Lamborghini, no picture of an airplane, no picture of stacks of cash is going to make you a better trader. It's not motivational. It's bullshit, okay? Look at charts, okay? Again, I've said this a million times. Even if you don't know what the hell you're looking at. When you're going through repetition, you go back to charts, right? You start scrolling back in the time to charts. See how a stock got from point A to point B. You'll start seeing a lot of similarities. That's the whole point, how I found these pivots in the first place, how I developed the PS60 theory. I realized there was irregularities. Why did I do this? Because again, the market that I was trading, the method that I was trading earlier, stopped working, right? It stopped working. This was eight and a half years ago, so I had to find a better way. The only way you're ever going to put yourself in a situation that you're going to see it in anything, is anything, is put in that background work. You have to do it. You have to put in that work or else again, what are you in this for? Again, I could give you pivots till you're blue in the face. If you don't understand the moving parts of these pivots and why a stock is stopping where it does, it's like me turning around on Friday and saying, hey guys, Tesla has reached that channel of 4.75. 4.77, when the stock's at 4.65. If you don't understand why I'm using that level, this is the high of the day of Friday, again, you're cheating your learning development. Again, if you're not taking this business seriously, just get out. This isn't a hobby. This isn't a part-time business. This isn't something that you, if you have an extra 20 minutes a week, you dedicate to. This is it. Again, I can't emphasize how important it is this time that you have the ability to sit down in front of your computer, look at charts, include all these indexes that I'm looking at, including all these moving averages, supply zones, all these silly charts. How come you have all these silly lines? Yeah, there's a reason for it. Again, stay safe. Get to work. It's only going to make you a better trader, a more disciplined trader, and a smarter trader. Hopefully, knock on wood. Eventually, when all this stuff kind of goes away. Hopefully, knock on wood, cross fingers. Again, let's talk about Friday's session. Again, very aggressive. Very, very aggressive session. This whole week was very aggressive. The funny thing about Friday's session was, I really liked the action from Thursday. For Friday, I actually made a watch list. I actually made a watch list for Friday. I said, wow, this is the first watch list I've made of a daily pivot watch the whole month. We've been just trading channels. We've been literally waking up in the morning. Again, if you've been watching this broadcast, waiting for the gap down, waiting for the channels to confirm to the upside and taking flow. Basically, rinse, repeat every single day. Thursday going into Friday, I actually made a watch list. I said, wow, there's actually some value here. The problem is, you wake up Friday and you see the futures are gapping up. Not a big gap up, but before I even woke up, everything was out. Roku gaps up to 80, TLRY gapped up to 450. Again, you couldn't trade any of these things. NVIDIA 226, NSU, I didn't even remember. Workday was like 132, 133. I was like, all right, this is all done. Again, if you watch this broadcast, I always say any gap ups, the value is always to the downside. The problem was, because the value was so strong the previous day, and I thought there was a possible second day rally, when these things gapped up and started coming back down, everything was stuck in the middle of the range. If you look at it right here and it says, guys, everything is little in the middle of the ranges. Sit tight. We might have a contracting session, which would have been great, which a contracting session, if we would have had a very, very slow Friday and the market would have stood up 100, down 100, something like that, it would have been great because slowly but surely it showed that traders were legitimately starting to get numb to the headlines. The problem was, again, as we all know, the market sold off nearly 1,000 points at the end of the day, which is, again, was good action for Friday. We'll get to that in a second. But long-term, again, we're still in that spin cycle of massive range expansion for overnight futures and intraday ranks, which, again, is more evidence we're not even close to a bottom. So, again, I said short-term bad, obviously, long-term good. It means volatility is dying out. Stay good. Stay patient. So, the day started out. I didn't do a single thing for the first 45 minutes. Not a thing. Not a thing. I turned around and said, look, we had a very, very good week. If everything sits in the middle of the channel, it's all good, right? It's all good. Worst case, we'll start on Monday. And the greatest thing about being an experienced trader, you're not trading because the market's open. You're trading because you have a value. So, I started putting pivots in. I started putting these pivots. And I just wanted to see what we could confirm. So, the first couple of pivots I started putting in, CCL 1180 Second Entry. Again, for all you guys who trade the PS60 theory, you know what that means. CCL 1180 Second Entry. RCL 257526 needs to build. And again, the worst stocks, the worst stocks, and again, the worst stocks right now are anything that would travel, leisure, anything in between. No matter how bad they are, they're always going to have some intervals that you can make very, very good money in. And CCL, you know, here's the 1180 pivot, right? Here's the 11, excuse me, here's the 1180 pivot. Everybody see that? This first candle on the supply and they got rejected, right? So, you had one, two, three, four, five, six, seven candles. You had seven hours of distribution. And again, I said right here, look, 1180, right? 1180, if it starts building, it's going to go. So, 1180 and Cardinal Cruise Lines went to 1367. Huge move, huge move. RCL, right? RCL, it was the same chart. I said basically, again, here's RCL. 257526 needs to build. RCL just exploded. Went to 28, okay? So, slowly but surely things started waking up. Then I put 124 and Walmart needs to build, never got there. But again, you could see, you know, these are the names I'm not usually trading, but again, they're starting to wake up and that's the key. You're starting to wake up bad groups in a bad market for cashflow potential. That's a good sign. Again, let's take the 900 point decline at the end, kind of out of it. Again, we weren't there yet. So, the cruise ships woke up. Walmart didn't do anything. Roku never got to the 80-20, but I'll show you a sneakier pivot on that. Crowd never got to 5150 on the earnings. So, things started, you know, things were like, well, you know, things are slower, slower, slower, blah, blah, blah. Let's see which one happens. So, this is where the days really, really started, right? So, for all you guys who took the cruise ships, I didn't trade the cruise ships. They're just not really my thing. I actually traded them a couple weeks ago out of pure desperation, because nothing was going on one day, but it's not really my thing. So, for all you guys who did take a great job. So, I started out with NVIDIA, right? And I traded NVIDIA this whole week. NVIDIA has been a great trader this week and Zoom, Zoom has been a fantastic trader this week. So, NVIDIA, rejection twice, 228 needs to build. So, here was NVIDIA, here was my first trader today. Excuse me, I actually was in, I was actually in NVIDIA and Apple at the same time. I forgot to put in the Apple, I actually forgot to put in the Apple pivot in the private feed. I only made like 20, 30 cents out of it, because it was just too crazy. I was trading both of these things at the same time and I said, you know, I just can't handle the risk. Let me get out of Apple. And Apple, you know, ran up like maybe a dollar, not even a dollar, maybe like 80 cents before it sold off, but I sold that to concentrate on the NVIDIA. So, here was NVIDIA, here's the 60 minute channel on NVIDIA. Here was the 228 right here. You see this guy's 228, 228, 228, it finally busted out 228. And my highest sale was like 230 in the team, so it was good, it was a really good trade and then obviously it stopped short of the next pivot of 238. You want to, again, this is why you need to know where stocks are going to stall out, where stocks are going to stop. So, NVIDIA was really good cash flow. Roku, Roku exploded, right? Roku exploded here. Roku 281. Oh, I did put in, I'm sorry, I did put in the Apple pivot. I thought I didn't. So, Roku 7850 needs to build. So, here was Roku, here was a 7850 pivot right here on Roku, right here, 7850, right? 7850 went right to this $80 level. Again, stopped at the next supply zone. So, yeah, Apple, I was in the same time as NVIDIA, very, very scary being in two beta, two beta names at the same time because you have to watch the futures, you have to watch both of these stocks. I'm not getting any younger. So, 251 needs to build. So, I get long Apple, I get long Apple right here. So, the 251, I get long Apple and it ran up like 50 cents, right? Ran up to 50 cents and it came in right away. I mean, right away, very aggressively. And it came in a little bit below my entry, like I'm talking about in seconds. So, I gave it like a minute. It spiked up again into the like the 251, 30s. And I was like, you know what? It just looks weak. I sold some. I sold some and the rest I got broken even. So, I made a little bit of money on nothing, like 25 cents on it. But it came in and started coming in aggressively. So, two very, very aggressive stocks at the same time is a lot mentally again. I know for all you guys who do trade beta, you understand how two of these things at one time is you can lose five years off your life. So, again, small move on Apple, NVIDIA, great move on NVIDIA. Take some on the way up and just again, just wasn't, it wasn't big enough. So, here's the move on Tesla. You can see like everything started waking up at the same time. So, 464, 465 needs to build. And I said, if you look at the comments here, right? Good job for CCL, RCL, blah, blah, blah. Good job for Roku selling the way up. Oh, Netflix, before we get into Tesla. So, here's the funny part about Netflix. So, there was a pivot 4765, right? It goes to 50, okay? It goes to 50. So, here's 4765, okay? And it goes to 5049, right? It's all good, $3 move. For some reason in my brain, I was so tired already, I thought for whatever reason, I thought the second entry on Netflix was not 348. Some reason I thought it was 349. So, I get long $1.30 above the pivot. Don't ask me why. And the stock goes up another like 80, 90 cents. The problem is I don't get filled on any type of size. So, I'm up like 80, 90 cents in the position. And then it dawned on me. I'm like, wait, wait a minute. Why am I in the stock at $1.30? Why am I in the stock at $1.30 above the pivot? I got so tired. I got very lucky. So, it started coming down as you can imagine with the rest of the future. So, I wound up making like 50 cents in the trade. But it's amazing how, again, sometimes you get very, very lucky because I should have been making sales where I bought it, not buying it. So, I got very, very lucky there. But here's kind of my comments on... Here's my comments on... Yeah, everything's going up at once. So, here's my comments on... On Tesla. Where's my comments on Tesla? Did I not put all my comments on Tesla? Yeah, so, I thought Tesla... I think maybe I put it in my regular account. So, 4.70... So, here's my point. So, 4.64... Where the hell is it? 4.64, 4.65, right? 4.64, 4.65 on Tesla. Here it is. Needs to build. And I knew it was going to stop at the Upper Bollinger Band because, again, that's how stocks trade. So, here is Tesla. Here's a 60-minute view on Tesla. Here is the 4.65 right here, right? Here's the 4.65 right here. And once it exploded, it went right to the Upper Bollinger Band at 4.77. Good job for all you guys who caught that as well. So, the day started out slow. And it got good very, very quickly. And here's kind of my point. Here's kind of my point of newer traders, right? These are newer traders. These aren't guys who have been with me. There's some people in the live webinar who have been with me for 10 years. These are guys who have not been with me for 10 years. These guys have been really new to traders. It's just not even with them. I do have a good share of new traders in the webinar. And I'm hearing the same thing, which is amazing because, again, whatever process you're trading, whatever process you're trading, you have to make sure that you're comfortable. You kind of block everything out, omit the nonsense, omit the noise, just really concentrate on technical analysis and market sentiment. And I think no matter what type of trader you are, if you really let go of everything else and really focus on what you're doing, you could be very, very successful. Again, these guys have been trading probably. This gentleman's probably trading a year, a smaller account. I mean, great job. Sean, I think, has been trading for a couple of years. But the point is, stay disciplined. Trade when there's value. Understand when the market has beaten you for the day. You don't need to lose a lot of money to figure out this is not your day. Some of the best days that I kind of cut myself off I've been up a little bit, down a little bit, like a little bit of paper cuts or whatever the case may be. It's always about what you could accomplish tomorrow versus what you can try to squeeze out today. Very, very important. So guys, understand this, guys. It's all about life right now. It's survival. It's happiness. It's about our family. Stock market will be here. It'll be here next week. It'll be here the week after. It'll be here 500 years down the road, assuming we don't all die. I'm kidding. I'm kidding. You gotta laugh, right? At some point you gotta laugh. I'm kidding. So God bless everybody. Stay safe. And with God's help, I'll see you all next week. 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.