To think that, you're, ever alone, with these red days, what's going on team, it's ricky with tech, but solutions and finally, finally, amc pulls back and - and i don't mean that in a negative way, i'm if anything, i'm down four thousand dollars on the day i held 1000 shares just like i told you guys yesterday and amc today pulled on back. Let's be honest, are we surprised that amc pulled back? No right, i mean be honest with yourself like it came from lows of thirty dollars. Amc has killed it from lows of thirty dollars, and it hit highs of fifty. Almost fifty two dollars, or it did hit, has a fifty two dollars sixty three percent.

It did this in two weeks. It was so consistent, so bullish it broke through that 50 resistance or 48 resistance, and it broke above 50 a share. This was a step in the right direction and we - and we did so well right. You guys saw my trades even with my fidelity account when i was going super heavy into amc and as we were approaching these overbought levels, i shared with you guys that hey you know.

I still want to partake in the action with amc, but i just don't want to do it with 10 000 shares anymore. It's not a good deal anymore. It's a little bit more on the overbought side. Yes, i see upside potential, but i see a lot of pullback potential.

So that's why i only stayed with the 1000 shares, so this encouraged me to still have some skin in the game with the 1000 shares and trust me, it sucked right based off of an eight percent. Eight point: five percent. You know red day. That's a hefty pullback, but let's be honest when in two weeks we gap up sixty percent.

You really think i'm gon na complain about the stock pulling back of my new 8.5. No, it's part of the process right, i'm still holding those 1000 shares, i'm thinking about. Potentially reducing it to 500 shares, you know it still sucks to see a red day, but one of the things that i wanted to share with you guys is: i never want you guys to ever feel like you're alone, i'm here and i talk about my green Days right, just like we did last week, i had an amazing week. We were having 20k days 30k days 20k days when i was heavily invested in amc, because the direction was in my favor, but guess what? When amc begins to pull back and that direction is no longer in our favor, i still want to partake in the action, but i need to make sure that i tolerate you know that pullback or that i put myself in a position in which i can tolerate.

So uh, i wanted you guys to know that. I hope that you don't feel a little under the weather. I hope that you don't feel down on yourself. This is part of the process and i don't ever just want to talk about just the green days and when everything is just in our favor.

But i also want to be and and talk about the red days right. It's part of the process, and why not talk about it? I want you guys to know that you're definitely not alone, i'm still holding those shares. If you want to cut losses, all power to you, if you want to continue to hold all power to you all, i'm here to share with you is the only people that freak out are those that did not prepare for the pullback. There are two other things that i wanted to share with you guys.

The nasdaq market has began to trade below the ema line. This might not mean a lot to a lot of you guys, but we see this from time to time when the nasdaq market begins to peak right when it hits overall highs it peaks, and then it pulls on back. It allows the market to kind of correct itself to kind of breathe, and then it continues to rally the market's more bullish than it is bearish right. So this is a good thing.

This allows a lot of tech stocks, since the nasdaq market is made up of a lot of tech stocks. It really allows a lot of these tech stocks to pull back, maybe for a couple of days and as long as we continue to trade below the ema, i could see the potential for this thing to sell off just a little bit and it really allows the Market to breathe, for those that are long-term investors for those that are our swing traders. This is your time to shine right. This is where you begin to load up on the stocks that you see a lot of value in and that you expect to make a recovery.

So what am i doing to prepare two things, i'm paying attention and i'm creating an effective watch list for when the stocks do pull back, i can load up on them right, so you can make your own watch list and the second thing is: what happens when The nasdaq market begins to pull back right. Well, one of my favorite etfs just kidding not my favorite etf, but a very popular etf sqq goes up when the nasdaq market goes down. I want to make sure that you guys are aware that this is a very bearish etf, it decays over time and it's triple leveraged if you're an absolute beginner if you suck at cutting losses and if you're not the best at locking in profits. This is not an etf for you, it's very risky, and you need to be very, very disciplined with your entry with your position, size and knowing when to lock in profits and not being afraid to do so.

Right now i have about thirty thousand dollars invested into my sqq trade and i'm up just a little bit over one and a half percent. So i'm not up very much. I normally go in with about a hundred thousand dollars the market's so bullish right now. I do expect the market to pull back just a little bit, so i will probably, instead of being invested with a hundred thousand dollars, i will probably only buy about twenty thousand dollars more putting me at a total of fifty thousand dollars invested.

I expected to get rejected at the sma line, just like we did last time and the time before that and again it wouldn't be much of a surprise if we get rejected there. So as long as the market continues to pull back right, the nasdaq market begins to pull back just a little bit more. This presents an opportunity, a short-term opportunity for skq. Please please please understand that sqq is more bearish than it is bullish, it's riskier and if you're someone, that's just getting started or not the best with entries, exits and risk management stay away from this, it's the easiest thing i can say the last thing that i Want to share with you guys is remember: we talked about lululemon when it was here at these overbought levels and then it pushed up due to earnings.

I took a short position very small in lululemon, 10 000 short position and i'm expecting a little bit of a pullback again. Lululemon is very bullish overall big picture, but it gapped up so much that i expect it to pull back just a little bit. I'm having fun with it, it's a very small position in comparison to what i normally trade with. So an example is, if you normally trade with a thousand dollars.

That's like you going in with a hundred dollars right, it's a fraction of what you normally trade with i'm challenging myself. I'm trying to you know explore different ways on how it is that i can approach the market, and this is just one way in doing so. If you guys have any questions about that short, please let me know i will probably add more to that short position. If, and only if, we begin to trade below the ema and it actually gets confirmation of lululemon breaking below ema and correcting itself back to either the sma line and or the previous support level of 380.

do, i expect lululemon to absolutely crash no right, not at All, if anything, you know it wouldn't really surprise me if it just finds a support at 400 and continues its way back up to new highs and if lululemon begins to pick up and it breaks above this 4 40 resistance level. That's where i'm gon na have to cut losses. So again, i'm just having fun with it, i'm taking into consideration the risk, but i'm also taking into consideration a realistic pullback just due to how quickly it gapped up and how it most likely will correct itself. But again only time will tell so let's make sure that we set our alerts on that.

So let me know in the comment section what you guys think i don't want you guys to be too hard on yourselves when it comes down to you know how the market has been performing a couple. Different stocks did pull back today. Understand that again, it's not just you you're, not alone. With this the market, the nasdaq market, which has a big focus on tech, is pulling back.

So please take that into consideration and it shouldn't be freaking. You out, you should just understand that that is the current direction right now of the market, but the market always tends to be more bullish than it is bearish. So again with time. We should find a support and then make a recovery, but it's for those that prepared for this little pullback that are able to buy the dip, take advantage of that discounted opportunity and then ride the recovery.

So i hope that it earned your thumbs up. I talked about my amc trade. I talked about the overall nasdaq market and i talked about my little short position on lululemon. I hope that i earned your thumbs up.

Please consider subscribing and if you have any questions, feel free to share that down. In the comment section, i will see you if you're part of the learn plan profit team at market open for our live trading session tomorrow. And if you want to join us, that is going to be that second link down below. Until then.

Like always, let's make sure that we're in the year on agree now take it easy team.