 You have to be mature enough to say, look, I don't see a clear direction. I don't see that path to the goal line. Let me take a step aside. Again, it's not about the short game. It's about the long game. It's not about what you do today. It's about what you do today to set your foundation for tomorrow and the next day and the next week and the next month and the next year. 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 AccessToTrade.com nightly wrap up show. So I had a crazy frustrating session today. Really, really aggressive, aggressively, aggressively, what's the word I'm looking for? Frustrating, right? Let's use the word frustrating. And it wasn't a monetary thing that I could turn around and say, let me read a blog post. It's nothing to do with that. I found today's session aggravating, very, very confusing, and it's not what the market did today that was so confusing. If you look at the scoreboard, it's not gonna really paint a picture. Yeah, we got to sell off towards the end of the day. Trump came out and basically said, hey, we're done with negotiations allegedly with the Democrats about a stimulus bill. Let's wait after the elections. Again, obviously the market didn't like the news and everything started selling off. You can see here just by what the Qs did. Qs went literally from 281 to 273. That's kind of bad, right? That's really bad. But that was kind of the cherry on top. What I mean by the market disappointed today, not because it sold off on the Trump headline, it sold off today because it failed to build upon what it did yesterday. So if you kind of do a quick history lesson, we had this really aggressive rally closing incredibly well on Thursday's session. Friday came the news that Trump got COVID, everything went down. We got that part. Over the weekend, excuse me, into Friday's session. Friday, the market started rallying again because again, Trump's health got better and then the final kind of death blow to the bears were, well, I'm leaving, I'm leaving the hospital, I'm going back to the White House at six o'clock and we had a really aggressive rally. And what we needed to see today was number one, we needed to see a lack of material type of news day which we got at the earliest part of the day, pretty much through 90% of the day, we got that part. The problem was the bulls failed to capitalize on what we saw on Monday's session. And what I found today incredibly frustrating, I found a lot of trades that I was very, for whatever reason, I was very, very active today. And I found a lot of trades that just didn't make any sense. And not to the point from technically, technically they were right, there was just no lack of follow through. And I think of for all you guys who did trade, whether it's trading, whatever stocks they're out in the market, you'll kind of notice the same thing. Number one problem I had at the open, we saw big wide spreads on everything. Some names were trading a dollar, dollar and a half spreads, very, very wide, very, very thin bids and offers. So you had wide spreads, very, very thin bid and offers and it made it incredibly tough. The good part about it is there was nothing going on, literally nothing going on at the open that you could turn around and say, wow, I missed that opportunity. Oh my God, no, it wasn't like that. It was all about this like circle dance that the bulls and bears were doing, but ultimately we knew based on yesterday's close, how bullish everything was and the fact that we reclaimed the five day moving average, we wanted to give the bulls the benefit of the Dow. And we'll get to the pivots in a second. But what I noticed was today, when the Dow was going higher, the NASDAQ kind of stopped. And I said, okay, you know what, I get it. Okay, we could be having an inside day, a res day, but the more the day played out, we started seeing a lot of strength, right? Roku started breaking out, Beyond got upgraded, started breaking out. And the names from last week, they were very, very strong. The FSLYs, names that really started coming out of channels, CRMs of the world, SPACE, right? SPCE that I've been talking about nonstop for a long time. It got stronger. So I said to myself, all right, you know what? NASDAQ is resting, it's an inside day. The indexes who cares, let's get, let's do what we have to do and let's get the hell out of dodge. And the problem was when stocks were confirming today, okay? And I saw a lot of these trades. There were, I mean, a lot of the loans were going up 50 cents, 70 cents. You know, yesterday the same trades were going up two, three, four, five dollars. On the short side, same thing, a dollar, 50 cents, going right back up. So there was no aggressiveness, right? No absolutely zero aggressive follow through today. And there was absolutely no fear until towards the end of the day, which I was already logged off. So I was very, very frustrated. And the more I saw it, the more I looked at the market and people asked me, well, what do you think this means? And this is again, before the Trump headline. And I said, you know what, I just don't know. And sometimes the best thing you can do is just say, I don't know. I think it's very healthy. You don't need to figure out every single reason why sessions are tighter, more aggressive than others. Yeah, the days that we get a lot of value in crazy expansion channels. So yeah, of course, those are wonderful days. Those are the days you want to take advantage of. But the days that you're seemingly on the surface getting a lot of opportunity, but that opportunity for some reason doesn't continue, right? Doesn't continue after the second entry, after the confirmation. Those are the days you kind of have to just wash your hands of the day and say, look, I just don't know what the hell is going on, right? Let me kind of take a step back. Again, I could take a little hickey. I could take a little paper cut. My job as a professional trader, our job as professional traders, our job as adults is not to take a paper cut, right? A paper cut, little paper cuts, a little hickey and turn it into severed head. We don't want to do that. Because again, sometimes the answers to the questions are not going to be obvious. Sometimes they're going to come a day or two later. And what we saw towards the afternoon, I kept on getting, I was playing some basketball and I was getting these text messages. And Dan, you watching the market? I'm not watching the market, I'm playing basketball. The market's getting killed. So I had to figure out this afternoon, where do we go next? And the problem with what happened this afternoon with the Trump tweet, when you look at charts tonight, you're gonna be sick to your stomach. And the reason why I say that is number one, we're technically still fine. If you guys remember from Thursday's sell-off, into the close, we held the rising 10-day moving average. Guess what? We held the rising 10-day moving average today. So until we start breaking down technically below the rising 10-day moving average, you can't make a macro opinion we're gonna go lower. You just can't, it's just reality. You could have a couple of trades. You could have some pivots. You could find some charts that are breaking down, but it's very, very hard to turn around and say a macro opinion sell bias when the market is still above rising support. And unfortunately, when you are looking at charts tonight, yes, you're going to see some short plays. Some of them are gonna be pretty obvious. If you look at the tech space, some names are rolling over. They held support and they get confirmed support. They're gonna go lower. But the problem is the majority of names, right? They're still way above, way above their rising support. And that becomes a problem for tomorrow's session because you're gonna have the ability to say to yourself, oh, wait a minute, the market's not going down. It must go up. Well, wrong. The market's not going up, must go down. Well, wrong. Again, technical analysis has to give you a clearer picture. And unfortunately, when you are charting tonight, you're gonna see very, very clear. Stocks are not, majority of names are not at the bottom of the channels to confirm down. And most of the names now are right back into the middle channel. So even names that were super duper strong like a space, right? Like a space, for example, that traded all the way up to this channel came all the way back in. Even a name like Alibaba. And again, talk about frustrating, right? I bought Alibaba twice today, okay? Twice off the opening range, okay? I didn't realize the opening range, you had to buy 68 times to finally get it right. So in two trades on Alibaba, I wanted to losing, in two trades, come on. I wanted to losing about 50 cents. Again, it's not at the point of the money. And then I watched it go up $6. My point is how many times can I get into the same trade? Right, what, 89 times to finally figure out which way it's gonna go? So that was a little bit frustrating, okay? I saw names that I got long that went up 30, 40 cents, just did absolutely nothing and came back to even. So I was wind up with a lot of, you know, a lot of really flat trades, a lot of small 20, 30 cent losers. And at lunchtime, I just turned around and said, look, I don't have an advantage here, okay? I don't know what the hell is going on right now. Let this thing play out. And again, if you wanna be a professional trader and you wanna be right, you can't be both, right? You can't be both. You either wanna trade for a living or accept what the market's telling you and sometimes raise your hand and say, look, I don't know what the hell's going on today. Let me step aside. Let me see what's going on with the market. Let me see how it closes. Let me run through a whole bunch of charts and maybe get a clear picture tomorrow. I think tomorrow we might run into, unless we get a very definitive area. There's some names that I do like to the short side on tech, on beta. But unless we get a very clean path to the goal line, you might run into another day that you're seeing strength, you're seeing weakness, right? The AKA, the chop factor. And those are the days, again, you have to be mature enough to say, look, I don't see a clear direction. I don't see that path to the goal line. Let me take a step aside. Again, it's not about the short game. It's about the long game. It's not about what you do today. It's about what you do today to set your foundation for tomorrow and the next day and the next week and the next month and the next year. And that's how you extend your shelf life. And that's how you become a mature professional trader. And the moral of the story is, again, guys, you cannot be in business without staying in business. And sometimes, again, especially with market driven events, whether it's the election, the stimulus, the coronavirus, everything in between, sometimes you have to be mature and say, look, I just don't know. And the moral of the story is stay in business, right? Stay solvent. So let's talk about today's session. In my opinion, really tough. I mean, really, really tough. I don't think I personally haven't been this frustrated with this session in a very, very long time. I probably said this in the webinar today 100 times. But I don't think we saw this significant of lack of follow through probably in about a year. And today was a perfect indication of what I was talking about. So there were a couple of smooth moves. And if you caught these trades, great. If not, you'll see exactly what I'm talking about. So TULO 287 needs to build. TULO actually did very, very well. So here's the 287, this whole channel here. Here's the 287. And it actually worked pretty well. I got very, very aggressive, put up an $8 candle and kind of stuck in the range. So that was one of the smoother moves. Believe me, they were not like this. Here, give you a perfect example. CRM, 256 needs to build. So here was CRM. Consolidated for several days here, came about of this channel, got above this 256 level, only one up a dollar. That's it, only one up a dollar. And that's my whole point that was very, very little follow through today. One up a dollar and then crash towards the end of the day. Again, you can see this over and over again. Tesla 434 obviously never even got close to the 434. It was actually pivoted to the downside, but I already lobbed off. And of course, pouring salt on the wound, it came in about $9. We'll talk about Tesla in a second. But this is the one that I really got frustrated on. I entered this area twice, right? And it's stalled out both twice. And I made sales and I said, all right, look, I'm just washing my hands with this thing. It's just not doing anything. It's just not following through. I mean, again, there's only one opening range high. You can't have three opening range highs. And Alibaba was so damn frustrating. I wound up losing like 50 cents on the trade, which is nothing. It's not even the point of the money. But 45 minutes later, it just literally woke up. And finally, Alibaba just put up this insane, right? This is the whole range here. This is a sneaky pivot and confirmed up here. And then finally put up this ridiculous $7 candle. And again, when it rains and pours, ZM, it opened up above it. It was a huge spread. It never even came close. I actually like zoomed to the downside. If it confirms tomorrow, Amazon never got close to the 3210 level, 3225 level. And again, just a key note, Amazon, it's not like Amazon got sold off because of the Trump headline. This thing was already down 40, 50 points before anything, before the afternoon session. So you can't turn around and say, well, Amazon failed because of the Trump headline. Amazon was already down 50 points, considering how strong the setup was for today's session to go higher, it never even came close to confirming. So again, that is a red flag. Another perfect example of a weak confirmation. Again, Netflix 521 needs to build, right? So Netflix takes out 521, it goes to 522, right? Nothing gets destroyed. Facebook, again, another perfect example. Facebook, I got long, goes up 30 cents, like nothing, goes up 30 cents, confirms the previous day. Again, it wasn't like confirming a previous little channel. It confirmed the previous day, did absolutely nothing, came all the way back in. Completely gone. This thing actually saved me. Of all things that saved, two stocks saved me. One of them was SPCE 2170, 2190 needs to build. And again, I didn't realize how really good and liquid the stock was. But this thing saved me. So we got long here, the stock really, really exploded. 40 cent move on a $22 stock, it's pretty good. I mean, especially the liquidity, this thing traded today, 24 billion shares, really good liquidity there. So this thing saved me, and I forgot to put on the Twitter feed, I forgot to put on the Twitter feed for you guys. Billy, we actually got long on this opening range high here. So these two trades, ironically, non-beta names actually saved me from having a really crappy day. But I still had a crappy day. DDOG, again, another perfect example of a stock making an initial move and crapping out. 108.50 needs to build. So here was DDOG. So here was the 108.50 takes out this whole channel here, only goes up a buck. Again, that was the theme of the day. Stocks going up a buck, 50 cents and rolling over. So it rolled one up a buck and then completely rolled over. OSTK, another perfect example. So I got long OSTK on the second entry. Again, the stock only goes up 30 cents, like literally 30 cents on the second entry. And I wound up taking like a 25, 30 cent loss. Again, it's not the point of the money, it's just the point of lack of follow through. And we started seeing that over and over and over again. You either going up a dollar or down a dollar, but ZM, again, I like ZM for tomorrow, 4.75. It was yesterday's lows, needs to build. And again, here's my point, even to the downside. So Zoom takes out the previous day's low, right? And goes down like $2, right? No big deal, but it holds support here. The thing with what I like about it tomorrow, if you could see these two candles here, this is the five day moving average. Again, if you follow this broadcast, you know how important the five day is. If Zoom loses the five day tomorrow, there's $10 worth of downside. If it confirms all the way down to the September 30 lows, you can see where your measure potential is. So very, very, at least for me, very, very frustrating day. I cut myself off very, very quickly. Yeah, so here's the big daily support, 4.14. I missed this trade, I logged off. 4.14, big daily support on Tesla, if flush is below. That second entry was below 4.13, it went down to 4.06. I didn't need that trade, right? I didn't need it, so I had to log off early. Right, so that was it. That was the salt in the womb. So hopefully tomorrow, hopefully tomorrow, the market will give us a little bit more clarity. Okay, here's another perfect example of a stock going up 50, 60 cents after the pivot. So very frustrating day, at least for me, but the key is again, you have to understand, look, it's gonna happen to you, you have very frustrating days, days that you're just not gonna have answers for. The key is again, put a short memory, okay? Limit downside, damage, limit your exposure to burning mental equity, and just get a good night's sleep and start again tomorrow. Guys, have a great night, everybody. I'll see you all again tomorrow.