All right everyone, good morning. So uh, we'll begin the morning show here and put up my disclaimer as always, just as a reminder in case you already know for those tuning in for the first time that trading is risky. Most beginner traders lose money, so approach trading with caution. Take it slow and don't trade money you can't afford to lose.

Last week or so has been fairly slow. I had a red day on Friday, a red day on Thursday, and a red day on Wednesday. So three red days in a row. It's not a lot of fun, so I have given back some profit on the month.

I'm still green and I'd like to keep it that way. So this morning I'm uh, so far being a bit more selective, which is why I haven't taken any trades yet. I really don't want to, uh, you know, stretch myself too hard on something that's a B or C quality setup because in this market I just don't think it's the right move. The overall market is selling off.

uh, pretty hard. We had the S P 500 200 moving average at right around 4 37 yesterday. Friday's low and it broke through that like no big deal this morning. So I suspect what I suspect will happen will be a bottoming tail and it's going to be closing back.

Above the 200, I think this level will see a pretty significant amount of buying. Now I could take a trade on the overall market. Uh, you know, in the belief that we're going to get a bounce here? uh, S or I could trade take a trade on Svxy one of the things that you have to be careful of. so this has a range from you know, 63 down to 54..

So if we got a bounce, maybe we'd see a move back up to 57 or 60. you know, but it's still. it's still expensive. so realistically, this isn't where I'm gonna find even home run potential.

Not that I should be focusing on trying to hit a home run, but if it doesn't have even big win potential you sort of ask. is it even worth the risk because you know you still have the risk of a small loss, but of course you can have a bigger loss as well if you know things get away from you. So I'm not wanting to venture too far outside of my go-to strategy. You know, after three days of giving back profit, it's easy to start to think you know maybe I should just switch gears and take a trade on the overall market.

But the next thing you know, that can be a quick way to give back even more profit and then find yourself getting even more frustrated. So I think the right decision for my day trading account is to stay the course and stay focused. You know, for traders that are focusing on long term, typically people will say buying around the 200 moving average is a good place to be watching. Uh, you can see we've had these pullbacks to the 200 in this area.

here and here and here and here. This was obviously well below it. This was during the the covid big big drop that we had in March during the lockdown and everything of 2020. But that's um, you know that was a while ago.

So anyways, um, so that's a look at the overall market which is red this morning and we don't have a lot of big Gappers. Uh, the leading Gap. Well, this is a reverse split so it's not actually something I'd consider at this point. Uh, Btbd is our leading gap.

but look again, a four A.m four to five A.m spike on very light volume. Very similar to Bs Bcfs from Friday the 4am spike and actually sorry Bsfc. uh, this one Also, this morning at 4am spiked from three dollars to seven bucks. So those four A.m traders, uh, you know, cap sharing some opportunity there.

I guess this was 300 000 shares of volume in that candle. So not a lot, but more than on Btfd. But but realistically, Btfd was very light volume. and then since volume picked up, it's just been selling off.

so you know it's just it's not a good chart. it's just it's just been selling off. It's not a clean chart, it's just been grinding lower. So right now leading Gapper doesn't look good.

So you know, no clean Gapper, no trades Extn. This is a buyout merger type of situation. Kohl's you know. I mean this is a higher priced stock.

It's a higher float. Pixie is a little cheaper. So what I'm really waiting for is you know the next stock that has really good news? Really good news. And um, initially pops up and drops because that's what we've been seeing but then rallies back up and breaks through the high and shows us that it's got strength and that the the buyers are coming off the sidelines and stepping up to the plate.

And when I start to see that I'll come off the sidelines and step up to the plate too. in the meantime, it's a much better idea to sit on the sidelines, all cash, you know? So I've given back a bit of profit on um, you know, on the month here. Uh, but you know at the end of the day it's I'm still green on the month and I'd like to stay green. Uh, so let's see, we could just look at the last 90 days.

Sometimes as a trader when you're too dialed in, you know you could feel like you know when if I'm dialed in just on this little area here. If that's all I'm looking at is just this here then all you feel like is a loser because you're just losing money. But it's important to say. What's also true is that this is the last 30 days.

This is the last 60 days and that's the last 90 days. Perspective is important. Red Days happen. It happens to every trader out there.

I'm no exception to that. So these are my red days. They're They're typically between you know, 15 and 30 thousand dollars. Sometimes they get a little bigger and you know, but then of course you know you've got the green days there.

I'll say, as always that my results are not typical. I I take a lot of risk. I have a willingness to take a lot of risk. And that means on days when the market's strong, I could do really well on the days when the market's not strong and I take that risk.

I can, you know, take a good size loss, and I've learned to be able to brush it off fairly quickly. And you know. pivot. Just step back, pivot, slow down, get on the bench, sit on the bench for a couple days, wait for better opportunities, and then when they come back up, I'm gonna go really aggressively.

So if you're someone who's coming here looking for small, consistent gains every single day, that may not be possible during a cold market. Now during a hot market. On the other hand, you're probably leaving a lot of money on the table. and and this is where you sort of have the challenge.

You know you feel like during a hot market, you want to capture as much of the opportunity as possible. but you know you want to be careful on over trading. And if you find yourself over trading giving back profit during a hot market, that's certainly not good. During a cold market, it may be better just to sit completely out watching but waiting.

you know, for those really good opportunities. But if you're in that mindset of you know, I'm gonna take one trade every single day. during a medium hot, you know, or just warm market. That's fine.

But during the cold market, sometimes a better decision is just to be patient and to wait. And that's tough because I know you know we'd all love to be consistently booking profit every day. you know, Monday through Friday every day of the year. Never have red days, have the red days be really small, but then maybe you bounce back with another really solid green day.

But uh, that's just not really exactly the way trading is because we have these, you know, ebbs and flows. So I still think as part of Trader Rehab program, it's good to be focused on one trade a day. Uh, if you have the misfortune of starting a Trader Rehab program at the beginning or in the middle of a cold market, then you may just be doing a lot of sitting. And that's also okay, because that's certainly better than losing.

So yes, we do have the different derivatives. Um, S Q Q Q is another one, but I I just don't know that I want to be. Um, you know, trading these too much? Um, I, I will. We'll see what happens.

We'll see what happens today. We'll see what the market gives us. Um, you know if if we have a massive cell day, you know, a capitulation day where we see just a huge cell. Maybe I'll start to get dialed in with trading, um, some of these derivatives or the Vix, But I'm not sure right now.

Um, because it can be a little tricky to divert away from your go-to strategy. You know you could also watch sympathy stocks. You know, if the overall market's dropping hard, Could you just or could you just watch? Um, you know, like Tesla. Which is because in the S P, it's a good reflection of sometimes what's going on and so then just focus on this individual stock on a day where it'll probably have higher relative volume.

You know, again, this gets into large cap stuff. but even on the large cap side, I think most traders would find themselves on days like today just sitting out because days if today ended up being a really, really big red day. Because big red days don't happen that often in the market. So a lot of traders, even with a lot of experience, aren't really.

We only get so many days of of experience trading a day when the market's down 500, a thousand, or 2000 points. You know, the dow like that, doesn't It just doesn't happen that often. So even the most experienced traders might find that those are days of just you know, sitting on the sidelines and and it's not to say that there's not opportunity there, but you have to manage that against risk. and if you feel that you can't afford to take that risk because you've already taken some losses, you might not be interested.

Or if you feel that you've made enough profit that it's not really worth taking that necessary risk, then you also might not do it. Got to preserve capital? Yep, so we have about three and a half minutes to the bell, so I don't have a very clear watch list today because we don't have an obvious gap. That's what I'm looking for. That's what I'm waiting for.

An obvious gapper that's clean, that's got good momentum, but the overall market's selling off so that's not going to help the individual gappers. We just don't happen to have any small cap gappers that have good news or particularly exciting news this morning that I think is going to give us more opportunities. And we've since. We haven't had some really good momentum in the last week or so.

I think the first thing that starts to pop up initially will, probably, um, you know, get shorted and not work and then we'll have to see whether or not that forms a bear trap and ends Up giving us more opportunity Because if it does, then you know based off a bear trap will be the first. probably clean, um, bullish opportunities. And I would say that just in general, after you have get into kind of a defined cold streak where you're just not seeing a lot of volatility or things pop up a bit, but then they fade hard, you've got to wait for a really kind of epic bear trap for short sellers to get short, get comfortable, and then get caught off guard. And then that's what can start to fuel that first momentum.

short squeeze where traders will come off the benches and say well, hey, hey, we've got something moving here and I think this is something I gotta jump on. Uh, so yeah, and on Extn I'm I'm just. this is I already said this, but this is a symptom of a choppy market. The traders are even considering trading something that's a buyout.

Uh, it's a takeover. The shareholders get a percentage of the new company, which is why there's still some volatility. But realistically, this isn't something that I would consider. So if you got green on it, good job.

Uh, I see some of you did typically though. I I just you know again this this to me is like a C quality setup and you know if you got green on it you got green on it. But more often than not they're not gonna work and taking a C quality setup. Um, you know at this in this current market I just don't know if it's worth the risk.

So I would love to have a green day today. I'd love to kind of clear the slate, but I can clear the slate by having a no trade day just as easily. So a no trade day would be better than another red day. Just have to be patient.

and then when I you know find something and get dialed in on you know, being a little bit more conservative. initially waiting to build a cushion and then once I build a cushion then you know back to full throttle. being aggressive, So sitting into the open with 30 seconds to the bell. Thank you on Youtube for tuning in for the morning show.

I hope you hit the thumbs up if you like the broadcast. I'll do the morning show again every day this week starting at 9 15. so make sure you're tuned in and we'll see you uh tomorrow morning. All right.

Thanks for tuning in for the morning show. Uh, when we get a if we have a day where we have some really good action I'll stream a little longer into the day, but right now not much happening. You.