Alrighty so some pretty exciting news, i'm going to be talking about a stock that just crashed and also what is going on with the stock market. So, what's going on team, it's ricky with tecla solutions. You guys know what we do here, every single day monday through friday, we love to give away mouse pads and we love to give away some flags. So if you guys haven't checked out the shop tech buds site uh, you guys can pick any mouse pad and or any flag, and we literally give one away on every single video.

All you have to do is comment down below, subscribed, make sure you're subscribed to the channel and as well as make sure you drop a thumbs up on this video. So that's literally all you have to do and tomorrow i will announce the giveaway winner. So what i want to talk about today is what stock just crashed after market hours - and this is urban outfitters, so urban outfitters was actually not doing too bad right before it reported earnings and you guys can actually see it reported earnings. Today, it's q3 on 11, 2, 2.

20. 21. It was trading at that resistance level of 38 and and uh 40 cents right. You can see that it's been consolidating here uh for the past couple of days.

We actually talked about urban outfitters uh today during our learn plan. Profit live training session and it's just so crazy now to see that it pulled on back so aggressively. This is why it's so important to understand that when us, when a company is about to report earnings, it is and can be, very risky, especially this quarter. I feel like a lot of companies, although they might, you know, report positive earnings.

Their guidance could be a little bit off which can just cause the stock to drop. So you can see that it went from highs of 38.45 all the way down to lows of 32.50 and right now it's consolidating at 33. I love talking about oversold stocks and it's not because i think everyone should buy oversold stocks, but i think it's important to understand and to break them down yourself. So i really hope that you guys again uh like this video and uh, looking at where we're at as of right now from 33 dollars.

If we were to make a recovery to just where we were a couple minutes ago, right right before it reported earnings, that's a 16 roi. One of the things that i want to share with you is, of course urban outfitters can continue to sell off. So taking that into consideration, it should encourage you to be selective. If you decide to buy the dip, you can't expect it to recover right away and if you decide to buy the dip, make sure you do it with the position size that you can tolerate.

What i mean by that is, if you normally buy, you know, or invest with a thousand dollars, maybe going in with a fraction of that just to mitigate risk right going in with a hundred dollars, instead of a thousand dollars just to have some skin in the Game, but if things go south you can at least make sense of it and you won't become an emotional mess, at least that's my two cents, and now that we talked about a very oversold stock. This video uh is going to be including another thing and let's talk about the nasdaq market. We talked about this during today's live trading session. Everyone keeps asking me every single day, as the nasdaq market makes new highs right, we're literally just at just a couple hours ago earlier today, at all-time highs at 16 212 for the nasdaq index, which is very important for you to understand the nasdaq market feel free To look into this is a composite of a bunch of tech stocks, so this is why you would have seen a company like tesla just pull back right before market closed as the nasdaq market begins to pull on back.

So it does have an influence on overall markets, and you can see that we saw a very, very aggressive, pullback and look at where we're at right now we're testing the ema line. Now this video is not to instill fear, it's not to scare you. It's simply to prepare: we've done it before, where we pull on back, we find the support at the ema line, and then it continued to rally so one of two things. This is simply a time to be cautious as we're approaching this potential support level.

If we break below the ema, we're headed back down to the moving average, and it's not anything that should scare you, but it's something that you can prepare for right. It's better to be prepared than to be scared, and we do this all the time it pushes up it peaks it consolidates at the ema line and then makes lower highs and lower lows, finds its support at the moving average and continues to rally it literally. Does this all the time peaks pulls back, consolidates rallies? The market is very bullish, but it's so important to understand overbought levels to anticipate and prepare for these pullbacks, and this is what i'm very excited for, because an etf like sqq as people always like to ask me ricky - is it time to short the market. Ricky is it time to short the market.

I am completely against shorting the market when it's still bullish. It just doesn't make sense like the market is so bullish, so it doesn't make sense to get in early. But if we get confirmation below the ema on the four hour time frame, then going into something like sqq sqq is an inverse etf, so this goes up when the nasdaq market goes down, and that is how you can make money. This is why you see that this thing is up 3.74 percent and its inverse etf, which is tqqq, is down 3.47.

Isn't that crazy? Now you know how you can make money as the market pulls on back, and it's not that you should go into this early. Understand that the inverse etf does come at some form of risk, as the market is more bullish than it is bearish. But it's when we have confirmation that it can make sense to begin to jump into sqq when the direction is in our favor and a lot of people have been asking questions about how to short the market. How is it that someone that's just getting started? Can short it? I was actually thinking about making a video, and i can actually make it as early as tomorrow morning, a complete breakdown on how to short the market as a complete beginner.

And if you guys would like me to make that video all. I literally need you to do is to smash that like button and comment down below and if we have enough people, then again, i would love to make that video uh literally as soon as the market opens i'll. Have it ready for you guys so um other than that? I just thought that it was really exciting that the nasdaq market finally is testing that ema line and it's finally pulling back giving the market, or at least allowing it to breathe. So i'm very excited to see if we pull on back to the moving average and or if we find a support and continue to rally again.

This is a critical point for sqq and tqq if it trades above the ema, i would not short the market if we begin to make lower highs and lower lows below the ema on the four-hour time frame. Then that is my confirmation on when to follow up with sqq and when i can begin to buy more shares as the market sells off, making me money as the market drops. So let me know what you guys think about that and again friendly reminder, if you guys want to partake in our giveaway that we do every single day. All you literally have to do is comment down below subscribe, subscribe to the channel and drop a thumbs up, and, of course, let me know what mousepad or what flag you want from the shop techbud site.

I really do appreciate you guys this time hope and wish you guys an amazing rest of your day if you guys want to join us tomorrow at market open for our live trading session. That is going to be linked in the description if you're ready to join the learn plan. Profit 2.0 team - like always, let's make sure that we end the year on a green now, take it easy team.