All right. So a quick market update I Wanted to provide you guys with some uh feedback on the trade that I was mainly focused today. So during today's live trading session uh, with my Lpp team, uh, we saw Tesla really rip up I did take a small little short position on Meta for a little bit. Uh, because it went back to retest previous highs that it had during that pre-market session.

What? I'm what I'm talking about is uh, during pre-market we moved up to the moving average. Uh, and while it was working its way up here, um, it worked its way back down. uh to the movie na end here. So when it, uh, moved back up to its previous highs, my idea was to cover uh, around the moving average.

That's where I locked in profits I made $91 Um, and then it just continued to sell off I did not capture this entire move right. Then Tesla Tesla began to rip up and this was my main focus for the day. So you can see I'm up a little bit over $8,000 Uh, $8,000 on the day I still have an open position and I'm going to add more if we break below the moving average. So I'm shorting Tesla and this is I Love trading reversals.

I'm not here to encourage you to trade reversals I'm not going to be like other people here on YouTube where it's like My Way or the highway. There's a lot of different ways on how to make money in this market. I'm just explaining to you on one of my favorite setups and I Love going long on reversals, meaning that like, um, if something sells off and becomes very oversold and then begins to show signs of a support, there's potential for it to recover. I love trading those reversals.

But because Market's been more overbought, especially Tesla, Tesla's been very bearish. So consistently bearish. So hear me out. When Tesla moved up and became very overbought because it's been so consistently bearish for the past month to month and a half, it wouldn't have surprise me that if it runs up, it then gets rejected and then sells back off because the overall true direction of Tesla recently has been more bearish than bullish.

So understanding. overall. Market Direction or overall direction for that given stock like Tesla is bearish and then allowing it to run up so it becomes overbought. So there's downside.

Potential you might be like, well, at the peak, Tesla was only up 2% Ricky Why do you care to make 2% if it sells off? No, it ran up 2% if we look at the lows that it was at during that pre-market session. From the highs to the pre-market lows, look at my little trend line tool down here. Um, you could see that it would offer a 5.69% Roi that that's the margin that had to work with in shorting Tesla that's in a perfect world I'm not perfect. even if I caught half of that 2 and 1 half% that's attractive enough for me.

So what I waited for is for, you know, for it to run up, become overbought. Build that margin. It began to consolidate I opened a small position I gave it time and just right now, in the past 20 minutes, it's been curling on over. Now we're testing the moving average.

Now the last thing that I'm waiting for is for confirmation that it's going to break below the moving average. and if I get that confirmation then I'm going to add a little bit more probably another thousand shares shorting Tesla making money as it sells off and my intention would be to lock in profits right around 17840 if we get that break below and if it actually ends up selling off again. Uh, a goal is something to work towards. not something that has to pan out every single time, but I Love breaking these down for you guys ahead of time and my whole thought process behind it.

So during today's live session, that's exactly what my Lpp team got to see is they saw the trade set up live I explained my thought process Market direction for Tesla has recently been bearish. This is why it wouldn't surprise me if it ends up getting rejected. This is why I'm okay with shorting it at overbought levels. Although it looked bullish, it's been more bearish than bullish.

So again, returning back to uh previous Direction and then giving the market the time that it needs to get that confirmation to then add more to my position right? dollar cost averaging into a position when direction is clear. As of right now, it's still not super clear. We're showing signs of potential support at the move moving average. so I'm just going to have to do my part in staying patient waiting for that confirmation.

and if and when I do get it, then shorting it and then covering my profits right around that 17850 would be my goal. I Guess I'll just have to follow up later and see how it ends up panning out. But overall, everything else is actually very, very bearish. which is quite surprising because Market's been more bullish than bearish.

But now on the one day Market's bearish Tesla's bullish which is kind of ironic. uh, but QQQ bearish tqqq bearish. we got AMD bearish Nvidia bearish Google Kind of break even consolidating. um Microsoft bearish Meta: a little bit more on the bearish side Amazon bearish and then Apple Um, it is green, but again, just a lot of consolidation.

Um, so didn't want to over complicate the trading today. There was no major economic reports that I saw Um in today's schedule so you guys can look at the economic calendar. Not much uh put in place for today when it comes down to the schedule for the Federal Reserve nothing put in place for today. Uh, and we we have Snapchat and phase Ford and Chipotle all reporting earnings after the market closes, so that is my market update for you guys again.

I Love keeping you guys up today on the different trades that I'm choosing to take and it looks like we actually might be setting up here for the break below the moving average. So I'm going to do 500 Shar short here for Tesla So 500 Shar short which is about $90,000 adding more to my position. There it goes: $8,900 almost $9,000 on the day. My goal is to get a little bit closer to that $15,000 Mark for the day and I I'd be more than happy to follow up.

Remember I Trade Live every single morning I'd love to see you there. You don't have to join. You can try to figure this all out on your own, but if you feel like it would be more useful for you to be able to watch me trade live, you get to see my good trades. You get to see my bad trades.

You get to hear my thought process behind every trade I take and if you feel like that would be useful for you I'd Encourage you to take 2 minutes, click the second link in the description down below and learn more about our Lpp team. we're running our biggest discount. It's 50% off and it's the second link in the description down below. If you have any questions, comment, or either send me direct message via Instagram or Discord which is also linked in the description I Appreciate your time.

Um, like always, let's make sure that we end the year on a green note. Take Care Team!.