 Hey everyone, Lee Lowell here, smartoptionsello.com. Today's Saturday, September 3rd, 2022. We're back for another Saturday synopsis. Why are you here? Why are you watching me on a Saturday? Well, I'm here to make your life a little bit better, to make you a better trader, to let you see what I've been doing for the last 30 years and show you some of the stuff that helps me get into and out of trades. I'm a technical analyst, chart reader. That's what I do. So I'm here to help you look at charts, maybe in a different way, show you what I'm seeing, and just help you become a better trader in general, specifically an options trader. I get lots of questions from people that ask me, Lee, how do I trade options better? And I think one of the things that a lot of these new traders seem to forget is that options are a derivative product and their value is derived, what Pence White's called, a derivative product from some other source. And that other source is the stock in which you're trading the options on. You can't just trade options in a vacuum by themselves and just think, I'm just gonna buy options and sell them for a profit. Their value is based on something else. So if you're trading stock options, you need to understand what that stock is all about and how you think or where you think that stock's going to move to within a certain period of time. And if you have no idea how to read stock charts or how to figure out which way a stock might move, then you have no business whatsoever trying to trade options. Call options, put options, whatever, spreads, whatever you wanna trade. If you have no idea what the stock's going to do, then you shouldn't be trading options because you're just gonna give your money away. So the reason why I make these videos every week is to give you an idea on how to potentially read charts or give you an idea on how to look at charts and how to look at stock prices and see which way they may be headed. That way you'll have a leg up in the options market to buy or sell certain options contracts more profitably. So that's why I'm here. I'm here to help you become a more profitable and smarter trader, give you some education, something that some things that I've learned over the last 30 years. So that's why I'm here every Saturday trying to up your knowledge game on the options trading and stock trading business, all right? So what we do is here every Saturday, we look at the charts and we look at specific individual stocks, we look at the indexes to see where the market's been over the last couple of weeks or so and where we think it might be heading. There's no guarantees in trading. Nothing's 100% right and you just have to make more educated high probability guesses on what you think the market's gonna do. And one reason why I'm such a big proponent on option selling strategies is because when you sell an option, you give yourself a lot more room for error, lot more room for directional error. And what do I mean by that? I mean that if you think a stock's going to go up and it goes down instead, well, if you sell certain options strategies, if you sell, let's say a put option or you sell a call option, that gives you room for your directional assessment. If the stock goes in the wrong way, you can still actually make money by using option selling techniques. That's something that some people don't understand because most people tend to buy options. They either buy put options or they buy call options. And the only way to make money by buying options is that the stock has to move in the certain direction in a certain amount of time in order for that option trade to be profitable. On the flip side, option selling, if you sell a put option or you sell a call option, the stock doesn't always need to move in the direction that you thought it was going to move in order for that option trade to be profitable. I think that's something that a lot of people don't understand. So that's why I'm such a big proponent of option selling. And so before we get started in looking at the charts, let me just bring up my website here, smartoptionseller.com. And just tell you about put selling basics. Put selling basics is a strategy. Selling put options that we call it put selling that I've been doing for basically the last 30 years. That has been my go-to. My strategy has made me lots of money over the years. And that's what we do in our newsletters. We have a put selling newsletter and we have a put selling spreads newsletter that we don't have to be right on the direction of the stock all the time in order to be profitable. And that's such a great way to make money in the options market. And we're not here to always guess where our stock's gonna be at a certain time. We're here to guess pretty much where our stock's not going to be at a certain time. It's a much different mindset. We're trying to figure out where our stock isn't going to go versus where it is going to go. And when you figure out where it's not going to go, you have a much higher probability of profit. So go to our website, put selling basics. This is the basis for our whole system. It's all about how to sell put options. Put your name and email address in here and we'll send you an email. And in that email, there'll be a link to download the report that I wrote or the e-book that I wrote. So selling options is what we're all about. Let's get back to the charts here. And so it's all about chart reading. It's what we call the Saturday Synopsis. So every Saturday go over some charts and try to help you understand what I'm seeing and why I would be getting into or out of trades, all right? So what you're seeing on the screen in front of you is the charts that I use. This is the SPY, the exchange traded front for the SP500. It's the best barometer I believe of the overall market as a whole. And I look at a daily chart. I'm not an intraday trader. I'm not a swing trader. I'm not somebody who's in and out of the market a thousand times during the day trading one minute charts. That's just not what I do. We look at longer time frames in our newsletters. We're a couple months for each trade. It gives the market a chance or that gives the stock the chance to move in the direction that we think it's going to move. If you're trading minute by minute, the market's just too random. It's really hard to figure out how to make money on a consistent basis, minute to minute. You're gonna burn yourself out. It's taxing emotionally. It's a lot of people coming into this business thinking I'm just gonna make money. I'm gonna buy and sell stocks and options all day long. It's a hard gig. You're gonna burn yourself out. It's tiring watching charts all day long, especially one-minute charts. What do I mean by one-minute charts? Well, this is a daily chart. Each one of these lines here is one day's worth of trading. If you click on the one-minute chart, that's the lowest time frame that you can look at for a stock or index. Each one of these little bars is one minute's worth of trading, okay? So this is random. You just don't know which way the market's gonna go every minute of the day. So we like to take a longer time frame. This is the daily chart going back. This is two years of history just on my chart here. And so I try to keep it simple. The few things that I use to help me gauge where a stock might be headed is I use three moving averages. I got a 50-day, 20-day, and 200-day, all simple moving averages. Some people like to use exponential moving averages. I use simple. And down here is the RSI. It's an overbought, oversold indicator. And there's so many indicators. There's hundreds of indicators out there that you can try and tweak and use to see what will help you follow the price action, which way the market's headed. And over the years, I've found three moving averages and the RSI pretty much gives me a good gauge of where the market's going, all right? So we look back, we draw these channels here to help us just see visually which way the market is headed. And when the market moves in another direction, we draw a channel in the other direction. And there's also head and shoulders patterns. There's support and resistance. There's the W patterns. There's bull flags, bear flags, congestion patterns. There's all these things that typically can help you find the way that stock might be headed in the future. And I'll show you some certain patterns. But mostly these channels help us understand which way the market is currently moving, all right? So we're looking at the SPY here. And if you've been with us for a while, you've known that since January 2022, the market's just been in this downtrend. Middle of June, we got a little reprieve. It had this uptrend. You can see the channels that I've drawn up channel here. And now since just basically the middle of August, we've hit a brick wall and the market's been selling off. Also Jerome Powell, the US Federal Reserve Chairman gave a speech last week that a lot of people didn't like. He said the Fed's gonna be more aggressive, keep raising interest rates to bring inflation down. Inflation's really high all around the world. And the best tool that the Fed has to combat that inflation is to raise interest rates. And that's typically not a good thing for stocks. Stock market doesn't like when interest rates go higher. Why? Because people can pull their money out of stocks and start putting their money into fixed income securities, bonds, CDs, treasuries, whatever, because interest rates on those fixed income items are going higher, you get a better return on your money. Plus it makes it harder for companies to borrow money. Higher interest rates means higher borrowing costs. So you get a lot of these tech companies, startup companies that need to borrow money, they're first few years out. And the higher interest rates, the more money they're gonna pay on those loans. So that's another reason why stocks will go down in a higher interest rate environment. So right here, middle of August, we hit the 200 day moving average. Plus this is the price action came upon the top edge of this uptrending channel as well. Hit a brick wall and started to sell off. Last Saturday here, I was hoping that the market would come down and find some support at the bottom edge of this channel here and then pop up again. That obviously didn't happen. We've had a big flush down this week. Thursday and Friday, had a little bit of a bounce but then it came up upon the 50 day moving average right here and it got knocked down, kind of closed near the low of the day yesterday. So we don't like to see that. But obviously, the market, let the market show you what it wants to do. I thought last Friday, last Saturday when I made this video, here's where we ended, I thought we would bounce and come back up through and go higher. Didn't happen. The market had other ideas and wants to go down. So what we can do is you can sort of draw a new deep descending channel here, okay? That just kind of gives you a gauge of where the market's headed. The other thing you can see here and I wrote about to my newsletter readers, this is the SPY. We had the 390 level, which is right around here was a area of support and resistance to prior moves. You can see right around here in this area, the 390 held up decently, came through it and then on the way up, it had some resistance here as well, got knocked the market back down and then probably the middle of July, it blasted through, came back one more time to test it and then started to go up. So now on its way back down, 390 could be the support area for next week. Okay, so maybe we can see a bounce here at the 390 level. Now, for some of you who are Fibonacci people, Fibonacci is just another way to gauge where a market might find some support and resistance. A 50% move or a 50% retracement of a last major move is also a support area. Now, we can also draw some Fibonacci levels here. Where's my Fibonacci numbers here? So we can do a Fib retracement. You go from the recent low to the high and then you'll see where the 50% mark is. So here is the low, we pull it up to the high of this move and roughly right around there. So Fibonacci will tell you where a market might retrace to. So this whole move from low to high, this move right here, usually on a pullback, it'll maybe find some support at the 50% retracement. And then the next level is the 618. Okay, so the 50% retracement was right around 396.77. Thought there could be some support there. The next level is the 618 retracement. The 61.8% retracement is right around 388.5 or so on the SPY. So the next level of support could be right around 388 and change, we'll see, I have the 390 level in here of the prior support and resistance. So I think next week's gonna be a telltale sign. Will it find support at either 390 or 388 roughly, the Fibonacci yet to be seen. We have to see what plays out next week. And if it does find support, then maybe it'll bounce and get up to 388. Get out of this downtrending channel and start on its next leg higher. You know, as I said, in the short term, anything could happen. We've got Jerome Powell's news last week, the speech that he gave really kind of shook the market up a little bit. He says the Fed's gonna keep raising interest rates and the market didn't like that. But there's a point where the market will find some equilibrium and say, okay, we know interest rates are gonna go up, let's prepare for it and we can start to buy stocks again in the long run, in the long run, months and months, years and years, we know that the stock market goes up over time. So you just have to be patient, figure out when the market's gonna turn. So let's get rid of the Fibonacci here. And so for me, next week, I'm looking at the 390 level as possible support, maybe that Fibonacci 618 retracement level and then maybe a bounce. But for the next bulls, we have to have the market move up and outside of now this new downtrending channel and hopefully bounce off 390. We'll see, there's no guarantees. So we watch and wait, in our newsletters where we sell put options and sell put option credit spreads, those are more bullishly oriented trades. So as I've been saying, if you've been watching these videos, we've been a bit on the lighter side of taking new positions because the market is showing us it's going down, it wants to go down. And even on this up move, we took a few positions, but we have a lot of cushion for directional error, okay? That's the great thing about selling put options is that you can give yourself lots of cushion. You know, when we sell put options, we sell out of the money strikes. Some of that might not mean anything to some of you yet, if you don't know. But you know, we sell strike prices down here well below where the market's trading to give us more cushion for error. And we wait to see what happens. So that's the SPY, that's S&P 500, looking for maybe 390 support next week. If that breaks through, then it still has some more area to fall to. 360 or low 360s is the last level here, the last down move in the middle of June. That would be the next possible area of support. But I'm hoping I'm bullish for the long run. I'd like to see the market go higher, but you have to take what the market gives you and it's telling you it's still got some bears left in it. Okay, so let's look at the NASDAQ represented by the triple Qs. Same thing. We can draw the visual, here's your new channel. Okay, you try to connect some tops, try to connect some bottoms of the bars. That's how you draw a new channel. It doesn't have to be exact. Just to give you a visual, you can see the inverted V. Okay, just to show you, Apple had the, this is the regular V. Okay, that's called the V shape bounce. So the Qs has an SPY as well, has the inverted V moving down. Okay, so on the Qs, is there any support where we can see, it's not, the 280 level could be some area of support possibly got through it a little bit here. So, but the next leg down would be shooting for this right around 270 is the last low, the last swing low here. And, you know, we'll see, but we need to see the market come up and outside of the downtrending channel before we feel better about things. Now, this was the last period where it was down in this downtrend and then we had the up move. So it had the up channel here. So a market's gonna stay in one direction until something comes along and pushes it in the other direction. You know, this one, Powell scared everybody out. So that sort of helped this new channel form. What's gonna be the next thing to push it higher? In the long run, companies, as long as they keep producing profitable products and having profitable quarters, every quarter earnings announcements comes out, as long as companies mostly beat analyst expectations and are profitable in general, in the long run, those stock prices have to go higher. In these short runs, you know, the market could do anything and the market reacts to a lot of news. So you have to take what the market gives. Don't try to force your opinions on the market because you'll end up losing. You can't fight the market. Let it tell you what it wants to do. Let's look at the Dow Jones. Same thing, big move down the last week and the last two weeks, roughly. So, you know, the markets are back in this bear mode. And until something comes along and says, okay, we're done, it's time to start buying, then the market will go back up. So you have to play on the defensive a little bit. If you're, you know, you're taking bullish positions, play lightly, you know, I typically like to nibble on the way down because I hold for the long run. And I buy a lot of, you know, S&P, the SPY, that's my go-to. I buy shares of the SPY and nibble on the way down, hoping, not hoping, knowing that in the long run, the market will go back up again. You know, people think when the market goes down, that's the end of the world. Every company's going out of business. There's no reason to buy stocks anymore. That's not how it works. Now, if you're buying stocks that you hear on a chat room or, you know, you're heard from some dubious source, a high flyer that you don't know what they do, well, you know, then there may be some trouble. But if you're sticking to quality, stalwarts, high quality companies that have been around a long time, you know what their products are, you know what they do, you know what they sell, those are the kind of companies that you want to get involved with. Now, if you want to get a whole smattering of all them, that's why the SPY can be a great form of investment in the long run. And that's what I do. And then I look for individual stocks as well, which is what we want to do right now. Let's take a look again at Apple. You know, we look at some of the more popular stocks because that's what people like to trade. So we look at those charts here. Apple had the nice V shape bounce, okay? And just like everything else in the last week or two, it's come back down. It has a new downward channel. When will the channel end? The channel ends when it ends, when the market tells you it's over. So don't try to fight the market. You know, if you want to buy Apple, maybe nibble on the way down, but you can wait for certain price points. Right here, this is the 50 day moving average, this line right here. And you know, maybe Apple will find some support on the 50 day moving average, but it all depends on how the general overall market is doing as well. Individual stocks tend to follow the overall market because on a daily basis, there's not a lot of news out each day for individual stocks. So they tend to follow where the indexes are going. So if the index is going down, the individual stocks will go down as well. If the indexes find some support and trade higher, then the individual stocks will trade higher as well outside of their earnings announcement numbers. Okay, so you know, Apple's on the way down a little bit too. Maybe find some support here. Let's look at Tesla. You know, these are the charts, stocks that are popular and stocks that I get lots of emails about. Tesla, these are the congestion patterns that I had talked about. They start to form this triangle like this, the ranges get tighter and tighter, and then they blast out one side or the other, blast it out to the upside here. Now we got another congestion pattern came to the downside. Here's the 50 day moving average right here. So Tesla, same with Apple, maybe finding some support on the 50 day moving average. These are important numbers, the 50 day moving average, 20 day, 200 day, because everyone follows them. So things sort of become a self-fulfilling prophecy in the long run, that everyone's watching the same thing. If it finds support, people think, okay, it's time to buy, and if everyone's buying at the same time, then the stocks have to go up. So these are important numbers to watch, okay? So Tesla, maybe finding some support on the 50 day moving average here. Amazon also, 50 day moving average right here. So a lot of stocks seem to be falling down to the 50 day moving average. Maybe we find some support and start the next leg higher. Amazon had this nice support at $100 per share and moved up nicely. Now it has a little pullback. You can see, had the resistance right at the 200 day moving average, just like the overall market did. Market ebbs and flows, ebbs and flows. But over the long run, let's look at Amazon's long run chart. This is a monthly chart. So each line is one month's worth of trading, flat for a number of years, and then just rallied up. But it's having a nice pullback here. $100 level could be the area of support. You can see over the longer term, there was some congestion right around the $100 level. Will that be the ultimate support at this point? We'll see, okay, so far it's held. Let's look at some other stocks. GlaxoSmithKline is a stock I wanna show you. We've sold some put options on it, still have some cushion below. I mean, it's just been going down. But the reason why I like it here is because look how oversold it is. I got into some shares just yesterday, told my newsletter readers, I'm buying. I'm buying some shares down here just because it's so stretched, so oversold that a bounce is really the next thing that should happen. Whether it's gonna go all the way back up to the 40s, that I don't know about. But I do know that when it gets really stretched like this, there's a bounce that's imminent. Now you can scalp that, buy some here, and then sell it if it maybe jumps a couple dollars a share, and that could be your trade. But do you want in Glaxo for the long run? I'm bullish on healthcare. Healthcare stocks, I know. Pharmaceutical, healthcare stocks. Companies that have been around a long time, they make lots of products. And the reason why it's come off recently is because one of their new drugs that they've been working on didn't do so well in the next phase trial. But it's not the only drug in their toolbox. They have a ton of other drugs that they sell. So it's not, one thing's not gonna bring them down. Way oversold, so I got in some shares here hoping for a rebound. But we also sold some put options on it, and we still have, you know, directional, I mean cushion for directional error. And the thing about put selling is that you can, you're looking to potentially buy these stocks much cheaper than we're currently trades. Now if we look at Glaxo Smith Klein on the long run, it's been sort of, you know, flat-ish. But there's a point where it won't, shouldn't be, there's a point where it shouldn't be falling below. And I'm taking a stab at that. And that's just me, but you know, there's risks in investing. And I'm taking a calculated risk here to buying some shares of a company that's very oversold. But the rest of the healthcare sector, Johnson & Johnson, and let's look at the long run for a lot of these stocks, Johnson & Johnson going up, Merck going up, Pfizer going up. We also have another play on Bristol Myers, BMY going up. That's the monthly, the daily, Bristol Myers had a gap down. So we sold some put options down here, bullish trade, and Bristol Myers has moved up. So our position's already making some money for us, which is good. You know, the GlaxoSmithKline just got too oversold for me. Taking a stab, oversold on the RSI. 20 is my level on the RSI oversold. It got below that, got down to 17 and change on the level. That's pretty oversold to me. Will it bounce in the next week all the way back at the 40? Probably not, but it'll bounce a little bit. Maybe I'll take some profits and sell out, we'll see. Or maybe I wanna hold for months and months and years and years yet to be seen. Let's see what other stocks we have. Let's talk about the chip sector, AMD, NVIDIA. The chip sector's been getting hit pretty hard, basically since the beginning of the year. A lot harder than I thought it would be. These companies, AMD, NVIDIA, Micron, they make chips for computers, which we all know computers are not going away. They're getting faster and faster. And these are the companies that are making the chips. And so it's a little surprising how hard they've been getting hit. Now, I love AMD as far as the chip sector. I like it better than Intel. I'll show you Intel chart. But we've sold some put spreads, not naked puts, but put spreads, which are also bullish on AMD. But the AMD price has just kind of gone into this waterfall, which I don't really like. Right around $80 a share. It was in the downtrending channel, popped out of the channel, had the congestion pattern, but broke down to the downside, along with every other stock in the market, pretty much. So AMD, unfortunately, it's still going down. I like to see it pop. NVIDIA, same thing. It's a lot more expensive. NVIDIA's got this support. Right in the low 130s here, I must have drawn this line sometime in the recent past. You know, we want to see these stocks bounce, but you can see the downtrend that it's been in. Intel used to be the winner, not so much anymore. It's lost its superiority to AMD and some of these other chip stocks. But you can see Intel just been going down since early 2021. Let's look at the monthly for Intel. Had been going up, you know, late teens, and then 2020 had a double top here, and then just been going down. But here, right on the 200-month moving average, okay, every chart you look at, it's called the 200-period moving average. And this is the monthly chart. So it's a 200-month moving average, falling through support Intel on the monthly. Let's look at AMD on the monthly. AMD had been going up. It looks like it had a W pattern back here at some point. Went up to 116 change, pulled back, it's lost half its value. Hopefully we can find some support here. So, but you know, the chip sector, I'm bullish on. Unfortunately, it's just pulling back right now. What other stocks do we have? We look at Disney. We look at name brands, stalwarts, been around a long time. Disney, probably finding some support here. Finally, pulled back just like every other stock. Here's the 50-day down here. Hopefully we'll find some support, but it all depends on how the general market's doing. What other stocks we'd like to look at? Nike, Nike's, you know, having a rough time as well, but we know everyone knows the product. A lot of these charts look pretty ugly, you know, especially when it's coming down. Get lots of fits and starts bouncing up and down. Had the uptrending channel, but now it's coming down. Fell through the support right here. So Nike, probably stay away from it for right now until it starts to get its mojo back. What else do we like to look at? Coca-Cola, another one of my favorites. Right on the 200-day moving average here. So it's fallen below it, needs to get on its horse here and start to move up. Had this big, wide congestion pattern right here. Popped above it a little bit, but now it's popped down below and sitting right on the 200-day support. You know, if you love Coca-Cola for the long run, you know, it's not, it's a great company. Look at it. Just moves up nicely. So, you know, if you wanna take a little stab, I bought some shares recently on the support of the 200-day moving average. Hoping that'll hold, but, you know, you can sell some put options as well. Down here, if you want. Just gives you some cushion for directional error. You wanna hold Coke for the long run and hope to get put the shares, meaning you have to buy shares, pick a price on the chart that you'd be comfortable buying the shares. Read the put-selling basics guide. It'll tell you all about it. What happens? How do you sell put options? You know, what's involved with selling put options? It's a great guide. And so, right here, 200-day moving average for Coca-Cola. Pepsi, also another stalwart. Moving up nicely as well. Here's the 200-day moving average right here. This long one right here. Coming down to the 200-day, had a little pullback. But you can see, bottom right, bottom left to top right. That's the way you wanna see a chart moving, okay? And if you, if a chart over the long run goes from bottom left to top right, you know, it's probably a pretty good company. Pepsi, Coke, you know, you can't go wrong. These are great dividend-paying companies as well. So over the years, you're gonna get dividends. Reinvest those dividends, your dividends will be even bigger. You'll be able to buy even more shares. Reinvesting your dividends is a great way to increase your stake in a company over time without even realizing it. You look at your statement 10 years later, you're like, holy crap, I have all these shares of a great company and dividends get larger. The more shares you own means you can buy more shares when they get, when you get that dividend. Instead of taking the dividend as cash and just spending it on something, reinvest those dividends. So your shares get bigger and bigger over time. Okay, let's see what other stocks. Kellogg and General, we'll look at the other one here in a second. This is Kellogg, I'm sorry. Kellogg's been going up nicely and it's partner in crime. General Mills been going up pretty well too. So you look at companies that provide us with the things we need on a daily basis. Kellogg's and General Mills make lots of food products. Procter and Gamble PG makes products that we use. It's been in sort of a downtrend, but over time, let's look at the P&G chart over time. Bottom left to top right. We can look at Clorox cleaning products. Hasn't done that great over the last two years or so. Let's look at the long-term chart. But in the long-term, been looking good. It just COVID, it just came back down. Let's look at Colgate, bottom left to top right. Colgate doing well over the long run, but you can see in the last two years kind of sideways action. You have to look at the stocks and look at the profitability and hold for the long run. In the long run stocks will reward you. That's just basically the idea of long-term investing. Netflix, let's look at some others. Netflix, been finding some support at this level that I drew recently, probably around $225 a share, $220 somewhere in there. It still has a lot of gaps to fill, but maybe it found some support here. What other stocks? Cisco recently took a play on Cisco, put sell with directional cushion. Had good earnings here. That's why we had the gap here. And then it pulled back. The post earnings announcement drip got in right around here, but it still fell with the rest of the market. We make high probability trades and hope that the market goes in our favor. And when the market has other ideas, we have the cushion to protect us when markets don't go our way. So that's a great thing about put selling is that you have the cushion, all right? That's why we love to do it. What else do we have? Verizon, talk about Verizon every week, still going down, still going down. Let's look at the long-term chart for Verizon. Got through the 200 month moving average. You know, the next line in the sand could be this bar right here, which would be around $37.5, $38. And then the next support probably right around $35. How far will Verizon fall? I'm not getting in yet because the market's telling me don't get in yet. AT&T, the other big carrier, wireless carrier, still down. You know, I like Verizon much better than AT&T as far as an investment. AT&T pays a great dividend, but if the stock price is going down, that's gonna offset the dividends. So nothing yet in the telecom sector for me. PayPal and Square we'll look at. Maybe starting to find a bottom here. Had the big, big move down, gave up a lot of pricing. And so it's been hovering between $70 and $100 in this range here. Has it found a bottom? Maybe. 50-day moving average here, 200-day lurking above. So it's kind of captured in this range here. So PayPal, you know, we've played it in the past, but nothing for us right now. Costco, another great company. McDonald's, doing well. Let's look at Warren Buffett. I'll show you something else you can look at as well. Warren Buffett coming down since basically April had been going up since the beginning of the year where everything else was going down, but hit the wall in early end of March, early April, came down, had the uptrend channel, and now got hit recently like everything else. But you can't hold Warren Buffett down for long. Guy's worth a lot of money. He knows how to buy stocks properly. Something a lot of people might not know, Warren Buffett also sells put options. He sells put options. If he's selling them, we should be selling them too. He's doing them on a much larger scale than we are, but he does sell put options. Let me show you something else on our website. You go to the More tab up here, click on the shop link, and we have the report that I wrote, the secret to buying Warren Buffett for pennies on the dollar, not free, small price, but it entails another options trading strategy, something different than what I've been talking about here, a way to piggyback Warren Buffett for a lot less money out of pocket. So if you're interested, take a look at that back to the charts. So Warren Buffett getting hit just like everything else, but in the long run, if you wanna follow Warren Buffett, his Berkshire class B shares trades just like an ETF, you can buy and sell at will. You can follow him for the long run. Why not get on board? What else, Twitter, nothing happening there. Elon Musk trying to get out of the deal. We know some bad things have been happening with Twitter. Got whistleblowers and things happening. Facebook still stuck in the channel. Still stuck in the channel, not doing much. What else, IBM, kind of range bound. I wanna show you stocks where I can give you examples of good buying opportunities or just really seeing things on the chart that can help you say, oh yeah, I see it now. Yep, I'm staying out until the market tells me otherwise. And for right now, it's either a lot of sideways action, downwards action, things are reacting to the news. So being in cash is a position. Don't worry about being in cash. If the market's telling you to stay out, don't buy or you're confused, you're not sure where the market's going, then you stay out. You don't have to be in the market all the time. Now with interest rates rising, banks are paying more. Not the big commercial banks. I'm talking these online banks where you can only do your transactions online. There's no physical branches to walk into. These online banks could pay a lot more interest. So banks are paying over 2% now on your cash in those banks. Money market accounts, 2%. Haven't seen 2% return on your money interest in a bank in a long time. So I've opened up new online bank accounts to take advantage of some of that interest, those higher interest rates. And these are all FDIC insured banks. So take a look. That's one of the good things about interest rates going higher is that your cash money will get paid a little bit better. So use your resources. You know, make sure your money's working smarter for you. All right, so that's it for this. That's it for the synopsis for Saturday. Let's take one last look at the SPY for next week. We've got the V pattern. Maybe 390 will hold here. We'll have to see how the market, we're closed on Monday for the holiday. So Tuesday, when the market opens up, we'll see if it either comes down through or maybe finds a little bounce here. But we could be in this range here for a little bit in between the sideways channel here. But you know, long run, I'm hoping or wanting the market to go back up. It will. You gotta be patient. If you're trading day to day, minute to minute, that's a hard gig. All right, that's all for the Saturday Synopsis. I hope this video has been helpful to you. I've given you some education. Please give me a thumbs up. Like this video on the YouTube. Don't forget to subscribe. Leave me a comment. I look at the comments. I respond to the comments. Send me an email. I respond to the emails. I'm trying to help everyone out here. Become smarter and more profitable traders. All right, that's all for me. I will see everyone next week. Have a great weekend. Don't forget, got the Buckeyes tonight, playing Notre Dame, hoping for a good game here. All right, this is Lee Lowell signing off.