So, who else loves to see when the stock market pulls back? What's going on team, it's ricky with tech, but solutions? A quick little update for you, guys, um. I feel, like a lot of people have been preparing uh for this little pullback right. It's not a crash uh, but today the market pulled back a little bit more than it has uh in quite some time. This is the overall nasdaq index and you guys can see that from 14 800 it pulled on back, hitting lows pretty pretty much.

The previous resistance level that we had before here and here as you guys, can see, acted as a new support level. We actually talked about this in the learn plan. Profit live trading session today, and the really cool thing about this is a lot of you. Guys know that i was in sqq, which is a short on the overall nasdaq market, meaning that when the nasdaq market goes down, as qqq goes up, um, i'm never here to try to glow with the idea of like.

Oh man look how much money i made at the end of the day like in comparison to my other positions. I didn't make that much. I made point four percent uh on an etf that goes up on the overall nasdaq market pulls on back right. I made sixty three hundred dollars very happy with it.

I had ten thousand shares and guess what guess what i did today i like to play it safe. I know that the overall nasdaq market is more bullish than it is bearish, so i decided that with this pullback, the whole reason that i even went into ask qqq. The first place was because i thought that there weren't any good deals. I think a lot of you guys can agree with me.

I was just tired of everything being super overpriced and i wanted to make sure that i had money in the reserves, so i can buy the dip on something, but as well as make money as the market kind of pulls back a little bit and that's essentially What we did i sold the majority of my positions. I only have fifteen hundred shares, so a thousand five hundred shares left just in case the market does bleed a little bit more um. I can kind of reap the benefit in that, but what did i begin to do today? I began to buy and go long on a lot of different blue chip stocks. I just wanted to wait for the overall market to close, i'm not here to encourage you to buy any of these right at the end of the day.

All we ever want to encourage you to do is to put yourself in a position that your future self will. Thank you for right, and one of the things that i decided to do is uh. We saw that the airline industry was an industry that was affected. Uh, some more than others right and uh banking has been affected.

If you guys look at this on the four hour time frame, it's just crazy to see how much they have pulled on back. So i took a very very light position on american airlines. I bought a total of 500 shares, which amounts to about a little under 10 000. I normally, as you guys, can see with my squeq position when i have money invested in something fully invested, it's about a hundred thousand dollars, so the idea is, i'm about 10 invested in a position.

Why? Well, it's still very bearish. It's still selling off and it still can continue to sell for so for me to buy and hope that it recovers right away is very naive right. So if it and when it does begin to indicate signs of an uptrend, i can easily begin to buy more. I just want to have some skin in the game at a price point that i viewed to be a decent deal and you guys can agree to disagree right.

You guys can, let me know in the comment section, but for more from where american airlines is right. Now to previous highs, previous resistance levels at 26 dollars, that's about 36 percent, and that's just with this right luv, which is southwest airlines, also very oversold. Another very popular one is safe, which is again very oversold. This is spirit airlines right one of the budget, airlines uh other very popular industry - is you know the cruise line industry and how much they've dropped.

My apologies, ccl, which is carnival cruise line uh. You guys can see that there's a significant drop on this one and from where we're at as of right now to previous highs. That's about 60 percent! Doesn't this almost kind of bring you back to kind of like covet times right where everything kind of sold off? There's a lot of big margins uh. It doesn't mean that they have to recover anytime soon.

That's not what we're here to say these things can continue to bleed, which is why you have to be very, very careful with how much it is that you decide to buy of it if anything right. The very conservative way to approach this is to still wait for confirmation of a reversal. Wait for the break above the ema line on the four hour time frame. Wait for indication for that price action to follow a little bit of a riskier way is take a light position, which is what i decided to do again.

There's so many different ways on how to approach the market. Just make sure that you're aware of that carnival cruise lines still selling off 60 uh percent potential and not a lot of people are talking about this. A lot of people are still continuing and rightfully so right talking about amc all these different hype stocks, all power, t right, but let's talk about these. You know, companies that are pretty big companies in our industry today, right that are pretty cheap, based off of previous trading prices, and i wanted to keep things very simple um.

I wanted to put some money in areas where i found them to be good deals. So i bought a little bit of american airlines today. I bought a little bit of carnival cruise line today, light enough for me to have some skin in the game, but making sure that it's not so much that if it does continue to sell off that, i don't become an emotional mess and that's the thing it's Whatever you decide to buy the dip on if they're blue chip stocks, if they're quality companies right these are not hype stocks, but these are companies that you know do very well in their sector and if they do begin to recover, you know it could be a Couple weeks from now, it could even be a couple months from now. I have such a light position in there that it will not affect me.

I can tolerate this kind of movement right so just make sure that whatever you decide to do you do it with a position size that you can manage and i think that's the very difficult thing um. You guys can speak from your experience, but i think that people become irrational when they have too much money invested. They become an emotional mess and they become irrational, friendly reminder, no one freaks out about the stock market crashing or about the stock market, pulling back when you're prepared and what we mean by that is, if you have money on the sideline and you're waiting for the Market to crash you're, not freaking out you're viewing this as a garage sale right, you're, ready, you're ready to buy the dip. Just like we've been ready, we've been talking about the market being overbought, it pulled back a little bit.

It presented a couple deals, but guess what now i'm beginning to load up and i'd be happy to ride the reversal, we're the ones that get to reap the benefit of this recovery. But it's up to you guys right. We can always try to buy out the highs or we can stay well balanced and understand when it makes sense to buy the dip so wanted to talk about my ask qqq position and, of course, update you guys, uh, that i decided to you know lock in My profits um and then, when it comes down to the other stocks that i feel like not a lot of people are talking about and the other industries that are, you know, pulling back a little bit more than others um and why i decided to buy the Dip and kind of what my plan is with that right, so we're still waiting for confirmation and until then i won't be adding more to those positions so keep it light. Keep it tight.

You guys know how we like to do it here. If you guys have any questions feel free to comment down below, i hope that we earned your thumbs up. Please consider subscribing, and i will see you tomorrow for our live trading session and if you would like to join us, that's that second link down below. Like always, let's make sure that we in the year on the green now take it easy.