All right. So uh, we've got um, about 20 minutes here since the opening bell and I want to go over the opening range a little bit? I Also want to give you sort of my watch list uh, of what I've looked at so far today, it's about 9 53. We're in what is no doubt a pretty slow stretch here. So this morning if I look at the Gap scanners uh, our top Gappers.

So my top Gappers here. This morning we had uh USX Ciso, Qncx and then FRC Now the problem for me is that these are all stock. None of these stocks really fit within my strategy. So USX this was the uh, top Gapper this morning 294 The news is a buyout at six dollars and fifteen cents a share.

so that's not something that I would bother. Trading So no trades on that Ciso second leading Gap in the market 139 These are big gaps, but it's penny stock that started the move yesterday ended up peaking just under a dollar and is on the back side of that move right now. It's on the back side of the move. There's uh, not clean or clear momentum on the back side, so there's no trades on that one.

Uh, and then we have. Let's see. um, Uncx this one. Um, it's been sort of a lower price grinder.

My metrics tell me I don't trade stocks under two dollars very well. So I don't have a lot of interest in this one I don't think that I would make a considerable profit on it I Think the only people who would really make good money on it would be uh NASDAQ on the Ecn fees and my broker on the commissions so that one's not really worth trading. All right. And then those are the top three Gappers.

So the top three gainers gappers in the market are all stocks that I wouldn't trade. That's a problem and they all have a lot of volume. 40 million on Ciso, 30 million on Qncx, 5 million on USX They've got a lot of volume, but they're no good. Then you've got 40 million on FRC I'm not going to trade off RC First Republic Bank You already know my opinion on trading the banks right now.

I See, a lot of you guys are trading them. uh and look, do what you do as you like, do whatever works for you. For me, the risk is too high relative to the reward potential and so I I won't uh, trade them. So that's that.

There's uh, there's volatility, but it's not safe. so I won't be trading these And that means today, there was not a stock that fit within my strategy that was one of the top four or five Gappers or gainers in the market. So as a result, this should probably be a no trade day. I Did break the ice with one trade on Crbp.

This one starts squeezing up. It's been moving a little bit. It was hitting the high day Moma scanner so I thought okay, I'll give it a stab. We got a break of eight dollars on it but uh so you see it.

hit the scanner here at 790 793, 796, 98.99 but very light volume and it didn't end up um, continuing hit a high of 8 10 and then pulled back here a little bit. so one small trade on that one break even trade. Ambi This one was Stronger yesterday and also gave a nice move last week on Tuesday I think it was so initially when it was coming up today. I thought all right, this could be interesting.

It pops here to 1550 and then flushes to 13.50 a two-point flush, then it comes all the way back up to 1564 and then it flushes again here down to 13. that's not safe, that's not trustworthy high volume red candles so that one's that one's no good. N-u-w-e this one popped up as well. light volume.

uh, didn't end up holding dropped back down. So uh kala kala that one's moving up a little bit, but you know again, it's not positioned well in the daily chart and the price is actually a little higher on that one. My sweet spot is between two and ten. I'll trade under 20.

I mean I'll trade. Listen: I'll trade GameStop at 400 a share if it's moving up and really squeezing. FRC Halted there. Yep, I see that.

but the fact is I'm really not interested in um, trading stocks that. are outside my wheelhouse during a time when the market is especially choppy and that I feel there's a lot of risk. So my job is to manage risk. I wouldn't have been able to turn six hundred dollars into over 10 million.

Those are my audit statements, my audited broker statements here. The audit report: Uh, I wouldn't have been able to do that if I didn't have a pretty good sense of Um I had a manage a risk. So managing risk is very important and this is a market where right now I don't feel like there's enough reward for the relative risk that I'm seeing on a lot of these stocks. I'm seeing a lot of risk, so the safest thing for me is to batten down the hatches to sit tight and be patient.

It requires a tremendous amount of discipline to be patient, but that patience is what will get you through this. Market and I said it earlier that I think that traders who are trading stocks like FRC all day long are kind of showing their true colors of thinking about profit and not thinking about risk because you do have the risk of this type of stock getting halted and not resuming like what happened on Sivb. and I've seen people comment that they're stuck in Sivb. They have shares and they can't get out because the stock is halted and it's not going to resume.

Trading The company's gone, shuttered, collapsed. It's so you know if you're holding a thousand shares of this at 39 and you're looking for a quick pop-up to 39.50 for 500 dollars without maybe realizing that you are risking thirty nine thousand dollars to make only 500.. it's not a good risk reward ratio. Now, usually you don't have to worry about risking the entire Capital that you're putting into a trade on a typical day, but this is an atypical Market And when you're trading and sort of bottom feeding on stocks that are down 70 80, 90 percent on a real Catalyst that creates significant uh, risk of possible collapse.

So not. You know not to be making you scared, but just to be honest about the risk here I don't think it's worth it I'm uh, I am relieved to see that the overall Market is doing well. So the overall Market is doing well. The overall: Market's coming back above this blue ascending uh, resistance support line depending on exactly how you draw.

if you draw it differently, you know you could be below it but or slightly above it. But in any case, we've got this level here that I'm certainly watching. Um, so I'm glad to see that. So the overall Market did sell off hard well for a couple days there on the Sivb news, but his bounce back up a bit so it seems that the overall Market is kind of shaking off this collapse.

And you know for what it's worth the FTX collapse? Uh, what was it in January or December I mean you know that shook the market a little bit. It certainly was, um, shaking stocks in the crypto sector, but you know, uh, now. it seems like we've at least as far as I can tell that is behind us. So I'm hopeful that the Regional Bank drama that's going on right now, Uh, a few weeks from now, or even certainly a few months from now will also be behind us.

But there is. Um, there is certainly no guarantee we could be in a you know, choppy period here for a while. So someone was asking, you know what was the what's the longest period you know of kind of really difficult trading that I've been through. um, and I mean I've had I've had long stretches um I remember having a six-month stretch in 2017.

where the market was really difficult to trade and I didn't find clean price action and I made money. but I didn't make much in those six months and then I ended up having a really good uh finish to the year October November December and I was grateful for that. Back in 2020. in March of 2020 when the market was, uh, dropping 30 percent while it was dropping at that time, I did not do well I did very well on the recovery as you certainly know, but you know these uh, six weeks right here when the market was dropping by 30 percent.

That was stressful times and I felt very nervous about buying stocks that were at all at like you know, a fraction of what they were at. but prior to covet especially the cruise line stocks, the uh, the Airline stocks you know, these travel Hilton uh type of Hotel stocks I mean it was really there was a lot of panic and then of course we had the rebound. So the right move for me was to batten down the hatches and be cautious during this period. And then when we got the rebound, you know it was game on and we had a really epic recovery.

There's no guarantee that we're going to have an epic recovery. Um, but we're also not in a 30 drawdown right now. This is just kind of a period where I think that there's certainly a loss of confidence, it's choppy and things will bounce back, but uh, you know I don't know if it's gonna if we're gonna go quite a bit lower first, if we're gonna retest the lows of this pullback back in October you know, 350 on the S P or if we're going to get regain the support of this ascending line and kind of move back up. So there's a lot of unknowns obviously.

uh, with trading with the market in general, there's a lot of speculation that the soft Landing is out of the question that having these this financial crisis with these Banks is, um, taking that off the table and we might have a hard landing and go into a real recession as a result of the FED increasing interest rates. So that's to be determined. And for me, it's important to be selective about when I'm willing to take risk. So obviously 2022.

Well, it's not. maybe not obvious, but for those that don't know, Uh 2022 was my third best year of all time. It was a great year. All Things Considered I did a million dollars in gross profit and I thought that was quite.

uh, quite nice. 18 of it came from just one month. uh, I had a great month of August Uh, with 180 or almost 200 000 in profit. so you know that was almost 20 percent came from one month and I have no idea what this year is going to have for us.

We may have some tremendous opportunities like we did last year, so it is way way too early by any means. To you know, count us out as day Traders for 2023. But no doubt this is a choppy market. So for me last week, so I was read the first week of March uh, we only had two days I think in the first week.

Uh, just double check. Yeah, three days. Anyways, I was green on Wednesday I think I was read on Thursday and green on Friday but I was read the first week I was green the second week and then I was read again last week. So this week, uh, I'm green but not by a lot and at this point I really just need to be very patient and wait for clean opportunities to present themselves.

And if there's not a lot of strong momentum, then the right move is just to be okay with sitting back because you know there's really nothing I can do I mean the market either is hot and we've got great Gap scanners or it's cold and if it's cold then I have two choices: I can trade the market as if it's hot and be stubborn and probably lose a lot of money or I can adapt to the market that's right in front of me. you slow down I can cool down and I can sit tight. That doesn't mean I have to be happy with not trading. You know I I can still be annoyed about it I could still be frustrated, but I have to at least accept the market that I'm in and trade it accordingly.

So you know and obviously one of the things I mentioned before, um, in class last week is that for those of you on a one traded day type of plan, this these are the type of weeks that you know you might have to be more patient in waiting to find that trade. Some of you who have schedules that allow you to trade eight hours a day, you could sit here for the whole trading session. Um, you know you may be the ones that are able to carve a little bit of profit out. whereas Traders like me, who have created a very busy schedule for ourselves, we've got other things we focus on.

Um, it may be more difficult for us to allocate eight hours to trading, especially during a time when the ROI doesn't feel like it justifies it. I have other things that I can do and that's important to diversify your time and your income with other things. So for me, my window has come to a close here today, essentially, and all the indicators tell me that this isn't the day it's going to happen. so might as well walk away with a 65 and try again tomorrow.

This is a break even Day I Mean, is it green? Yeah, but you know there's There's no sense for me in pushing it, but everyone has to make that decision or you know for yourself. I Would certainly say that if you are struggling with self-control if you're getting emotional, you're getting frustrated. you're over trading, you're overstaying, You're welcome. then I would think very closely.

Um, about um, trying to scale back right and just doing what you can. To set aside, this is the timing. I spent trading. This is the time I'm going to spend doing other things.

So anyways, um so my watch list right now for those that are going to continue trading into the day. Uh, well. Unfortunately, even looking at the top gainers isn't that helpful. Uh, Qncx is the only one that I suppose is viable because it's holding up relatively well.

but it's a grinder. Kala is hitting the scans but the float's higher. Oh sorry, the the volume is lower and the price is higher Topping: Tails so that's not that clean. Yesterday we got some action on Dwac.

Um, you know, so you could get some action on something like that. Maybe you'll have some surprise momentum today. A and B I is trying to curl back up, but I think the risk is high. So anyways, I want to come on, um and do this? um, recap.

sort of. Um, in this format is a just a live broadcast because I've got a busy day ahead of me and I've got to roll out of here in about five minutes. So uh. anyways I just thought I'd do this and thank you guys for tuning in.

Appreciate you guys being here. Thanks for those on YouTube who tuned in and I'll be back at it. Uh, tomorrow morning you know as always and hopefully we see some good opportunities tomorrow. But my expectations I'm gonna you know, set them kind of low and hey, you know what if we see something great I'll be pleasantly surprised.

But setting the Barlow right now uh, and just trying to be very consistent and that requires in this market being very selective. So I really believe patience and discipline is going to see us through. So I'm going to try to lead by example on that and I'll see you guys. Um, back at it first thing tomorrow morning.

All right. So again, thanks for those that tuned in on YouTube for my live recap and also my uh watch list and opening range analysis for this morning. and I'll be back at it tomorrow. and I actually I might tomorrow.

I've got a busy day as well, so I might do, um, a, uh, another episode like this tomorrow for my recap. Okay, thanks as always. Reminder that trading is risky and my results aren't typical so take it slow practices simulator before you put real money on the line and I'll see you back here first thing tomorrow morning.