So one of our Traders within our live trading sessions today with the Lpp team brought up a specific stock that was up 10% on the day, but it was an overall bearish stock for the past two years. I decided to open a short position and man did it payoff. Let me go ahead and start sharing my screen so you guys can see exactly how much it is that I'm up and this is on General Motors So shorting a stock means that I make money as it sells off and because it you know it's such a volatile stock. Today due to uh, the news of a potential buyback for General Motors of up to10 Billion it Rose 10% I'm up 17K on the day so far, my position's not closed.

so I guess it's not locked in profits. Uh, but I see the you know the possibility for this thing to pull on back? very likely I mean just look at this. it's been selling off uh for the past two years. Uh, from highs of $66 it's a constant descending pattern.

lower highs, lower lows. Uh, and due to the news of the buyback, obviously it acted as a positive. Catalyst But one one thing I began to notice during our live session today is that from when the market opened, it went back to retest that same resistance it sold off. Went back to retest that same resistance.

it was consolidating. It was lacking progress. Um, which meant that okay, this might be the potential top and at that point, well, what's going to happen next? It's an overvalued stock. Based off of news that, realistically, once that news ends up dying out, it's not rocket science.

It's going to pull on back just like again. it rallied. It hits a resistance and then pulls on back. It rallied it.

It's going to hit a resistance and then pull on back. And this thing just has a history of pulling on back. so it was very, very easy for me to see that. Okay, this is definitely a stock that I'm going to want to pay attention to to potentially short.

So then when Direction became favorable I began to step on the gas. We broke below the EMA broke below the moving average and then it has a common support range right now right around 3150. I announced it to our Lpp team. and then so far on the day 17K on the day I think I can get over 20k.

Um, on the day easy 20 21k. Uh, Especially with this thing, you know, breaking below this support and if it actually begins to show progress. On the downside, man, it might be one of my most profitable short positions I've ever taken. Um.

overall, when it comes down to the market, Um, I Was actually quite surprised. It looks like we've been getting rejected. Uh, we showed signs of resistance. and why is the market selling off? Very, very simple.

We talked about this. you guys cannot be surprised is that when the Federal Reserve when the members begin to speak, obviously with what they say, changes, maybe the market sentiment right And then as of today, based off of what it was that was said, uh, we have pretty much uh, so let me just read this to you. so Wall Street The three main indexes were muted midday after a strong start on Wednesday following the last commentary from a Federal Reserve official on the possibility of another rate hike uh, and demand rise. So again, all that was brought up is the possibility of another rate hike.

The Market's been factoring in that they're going to cut interest rates as soon as the start of next year, and a lot of people do believe that, sure, but they were completely not focused on what if they do raise rates one more time and this is again where the curveball begins to happen. I Do want to make you aware that again, the Market's still incredibly bullish. Looking at this on the 4our time frame, we're far above the EMA line, far above the moving average. This Market is still for the Bll one day does not define Market reversal, but this is just to highlight the importance of how quickly on a dime the market Direction can change when Market sentiment is configured based off of what a Fed official says and simply If they raise interest rates more, right? This was not something that was factored in, and that means it's going to be more expensive for people like you and I and businesses to borrow money.

Therefore, that slows down the economy and that's not normally good news for the overall economy. And because of that again, the markets retrace and pull on back. So I'm very excited to follow up to see how it ends for the month of November. We have one more trading day, which is tomorrow and it's one of the most important economic reports that's going to be released and that is the Pce prices.

This will pretty much determine if the market ends November on a green note or on a red note. Overall, the month of November has been one of the most successful trading months for the NASDAQ market, and there's no reason to sugar Cod it. We call it the headline momentum or the Market's trying to find any reason to continue to make higher highs and higher lows. And it would not surprise me that even after today's news that the market just skyrockets H Hoping that Pce prices uh, or Pce report tomorrow comes in as expected.

Remember, the Pce report is one of the Federal Reserve's favorite report to pay attention to when it comes down to focusing on where inflation is at. So yes, tomorrow's report is very significant. The report's going to be released 1 hour before the Market opens, so please make sure that you are aware of that if you have any questions whatsoever. Shoot me a DM and I'm very excited to keep you guys up today with my short position on General Motors Um, and to see if we can work towards breaking that support of 3150.

but all you have to do is again be a part of our Lpp team which is the second link in the description down below to be able to watch me trade live as soon as tomorrow. I Appreciate your time I Hope that we're in. Thumbs up! Please consider subscribing and like always, let's make sure that we end the year on a green note. Take Care Team!.

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