April 22nd, 2024 Ultra Wealth Review and discussion

Foreign. It is Monday, gentlemen, April 22nd. Tons of time left in the month for us to discuss options and trading and collars and look at the markets, kind of review some things. Let me get my screen share turned on and one of the things that we'll notice is we are after a lot of selling over the last few days. Some of the, some stocks are up a little bit this morning. Start off with looking at Apple. So Apple has pulled into that really big level that we've been talking about for a while. Pretty, pretty interesting spot. I snagged some and this is, this is really going to be a, again. I know a lot of you have some shares of Apple but from a long term perspective this is really a really good buying zone. Just one 165 to 150 is a good spot. Has your covered call decreased over 75%, Eric?

No, I'm sure I, I wasn't on on Friday but that thing's got to be close to nothing. I'm just going to let it.

Go.

To zero or if I think Apple can bounce I could close it out and I don't know if it's gonna, you know, get three strong days and give me something else to sell a call on. We'll see.

Yeah, okay. Love it, love it. Earnings coming around the corner on Apple probably two and a half, three weeks away. Yeah, just a, just a great location. We'll see if exactly like you said, we'll see if we get something that allows you to sell a call after some type of good positive move. Here's the broader markets on the queues. So we are finally, finally, finally getting that nice little steep, steep, deep pullback that we really need and needed for quite some time. So excited to see that. What were just from a Q's perspective, Eric, I know that you sold yourself some covered calls and got called away around here. Did you ever end up getting back into the queues or you just play in some individual stocks now? Yep.

I haven't had any cues for a while since that. Yeah, I still got them heavy in Apple and Google and Amazon and some other stuff.

Yeah. Which is pretty much the cues. Yeah. Yeah. Love it. Scott's been buying on some down days. Very cool. Yeah, beautiful. I mean it's just a, it's a really, really nice, good little pullback that we got there. Let's, let's walk through again. Just starting off with some of the signals. Like what if we're looking at this, I think the really big one, probably the big signal to go, hey, There's a good chance that we get a little bit of a pullback coming. Probably would, would have been this candle. And we can think of that because we had two really, really interesting candles. These are what we talked about in January. So you have these two guys, and if we pull up the Good old famous 10 EMA, right? Two bull candles, both below the 10 EMA, and then you had that really strong bear candle. This is a bearish engulfing candle, huge massive candle closed below both of those bull candles, right? So essentially you have two, two days worth of trapped people. And then we had a little bit of a retest for a few days. So this is really that, the retest of that candle. Then you got the, then you got the drop. And it all all kind of started with this, this little guy here, that big candle. That was the big one. At least the, again, that potential warning signal that we can start getting a little bit more of a pullback. But then at the same, same instance, this candle too, right? Really just small little bull candle. Here's another bull candle. So always keep in mind, anytime you start getting these bull candles closing below those 10 EMAs, or you know, if you're going to go bullish. Once we go, Tom, once we start getting that happening again and we start getting some bear candles above the 10 EMA, those are really, really good indications that if those levels start cracking and start dropping and going lower, that's a pretty, pretty powerful signal that there's going to be some overall trapped momentum again if we just go back a little bit. So when that, when that candle actually comes in, we start zooming out. Tom. Right. Well, we'll notice that really since what, October, we didn't really have the biggest pullback we got in October was four and a half percent. That was right, right at the very, very beginning of the year. And then we got, you know, that was 2.8. So you would figure, okay, we're gonna go, we have to go down at least this far, right? Minimum you would imagine. And anyway, yeah, so the, the cues is this orange line right here. Again, this is the prior all time high. So here's the weekly chart. And again we have the ease of being able to retest that level as well at some point. So this is the pull up the weekly got the big, big, big bear candle coming below. So now my expectation would be, and again, the reason I'm kind of showing you this, keeping in mind that markets are fractal, meaning whatever you have on a big scale, you can have on small Scale and vice versa. Going into what we talked about in March, if we're looking at some type of wave count, there's probably a few here that we could find and see. But one that looks pretty clean to me is 1, 2, 3, 4, and we got a way of five. And depending on this drop. I mean, if this really most likely looks like some type of a wave. So we have a really big bear candle and that big bear candle on a weekly chart. If that does what the daily chart did with a big bear candle. What should we expect from here? Probably a little bit of a retest right inside this candle for a little while, just like we had on the daily chart. And then once we get that little retest on the inside that week and that, that could take three, four, five weeks. Just like the daily chart took three, four, five days. Remember that? Then we have that one more push lower kind of retesting Again, some of the, the previous all time high. This, this right here I think is again a 99 likelihood at this stage because the wave count is so clean.

You're, you're saying that that 395 to 400 is most likely the bounce and then probably the bottom and start of the next elliott wave at Y1.

Yep, exactly.

Jeremy.

Yes, sir.

On where you just did your wave count and then the all time high that it used to be where that pink arrow is pointing down, if you count that down, I can count a five wave down. But then you have this weird kind of chop up. I can't really make is that normal? And then it would break wave again because it's changing direction.

So you're saying. Yeah, so like. Right, that little, that little weird chop there. Yeah, yeah.

What would you consider all that kind of weird stuff? Because sometimes that throws me off of my wave counts because I can't find an ABC in there or anything. I know we're on a bigger time frame, but if you break it down a little bit more, you could probably find it.

But yeah, precisely. Exactly. You're, you're 100. Right. So for example, this, if we go, okay, this is the five. Right. That's mean, that's, that's lower, low. Then this would be the A, B, C wave. Right. And then if that's the abc, right. We just zoom into a smaller time frame. We find a wave 1, 2, 3, 4, 5 on that structure down. And then that's an accurate count.

So some wave, some total 5 wave counts can be like a month or shorter.

Yeah.

Oh yeah, absolutely. Yep.

Sometimes I have, I Just have trouble when I'm looking on a bigger time frame. I'm thinking that I should be able to make it on the same time frame if I can. Then I'm counting wrong and then I gotta go inside of that. Like when you do the five count inside of a three. I understand sometimes you gotta go smaller wave counts inside of there.

Precisely. Yeah, precisely. That's exactly right. It's, it's absolutely okay to go into a little bit of a smaller time frame. Okay, yeah, that's a great, great point. Yeah. But no, I think that's awesome, man. Good, good recognition. And again, I'll, I'll pull up just to analyze this. Let's pull up these two charts together. So pull up the cues for a second and then we're going to start looking at some trades. But like if we go here, see if the cues on the daily is on the right and the weekly cues is here and we can see again, you know, again, kind of relatively similar sentiment essentially. Well, I say similar sentiment. I mean you get, you get some consolidation like call it like a, a pennant or triangle pattern or something over here on the left, which is the weekly. And, and before you got that breakdown, right, there's the, there's the Big Bear candle. And one of my little secret rules is not really a rule, but when my, my strategy, Big Bear candles and Big Bull candles very, very, very often will retrace 50%, 50% of the big Bear or Big Bull. You're off Extremely, very, very, very likely going to get a retest of that candle halfway on all time frames.

So like the weekly one, you're thinking that we could retrace back.

Very likely. Yep. Which would make, which would make sense. I mean, because again that would follow the right. If that's an A wave down, we have a B wave, B wave, something like that. And we have one more push lower. I mean this, that, that this is essentially for we're fortune telling here because this is a, when you start getting those wave counts down, it's, it's a little bit spooky. But again, what this really does is it helps just kind of prepare us. We can, we can start coming up with our strategies of like, all right, what should we expect or what could we do here? How do we protect ourselves? Right. That's really all, that's all it does. And again and, and, and it helps us plan for, okay, if we have some down days or some down weeks or we're a little bit red for a period of time, even if you have A longer term position. I've always noticed and I've always realized that it helps me a lot to say to myself or to kind of plan for my portfolio or whatever. I'm going to be red for a while. Even if I'm longer term, green. If I have short term paper losses, it can be scary, right? Your brain can go, I'm wasting my time, I'm wasting my money. This is the practice, this is how you want to implement. So you can kind of start pushing past that a little bit where you're like, all right, if I'm going to be red for a little period of time again, even if you're in a collar, the sold calls can be profitable, the long puts can be profitable, your longer term shares can still be profitable, right? Your overall unrealized P and L can be profitable. But that daily P and L, that's red, that can scare you. And your brain just naturally is like, I'm losing money, I'm an idiot, I'm dumb, I'm stupid, I'm not smart enough, I'm not figuring out right. I'm over leveraged, I'm lose all my money. I'm gonna go zero. This is the top of the market. I bought the top of the market. Everything's gonna go lower. I don't know enough, I'm not studying enough. Those types of fears, they can start, they can creep in and the, the way to counteract that is to sit down and just come up with your plan and then tell your brain, because your brain is unfraid of your, your brain, ladies and gentlemen, is on, is afraid of uncertainty. That's what your brain's really afraid of, uncertainty. So if you sit down and you come up with your plan, sure. But your version of what's likely going to happen so that you can create certainty for yourself, it'll make you, it'll make you feel more certain, even if you don't. I mean, I'm sitting here telling you what I expect to happen. Is this actually going to happen? I don't know. I mean literally, right? If we knew for sure like 100 certainty, like the sun's going to come up tomorrow, like that type of certainty, then great. But I mentioned earlier, this is like 99, like this is really, really, this right here pretty likely scenario based on everything that we've practiced. So as we start studying that, as we start being aware of that, as we start kind of planning through that, it tells your brain, okay, I'm allowing you and it's all right, and planning to Be a little bit negative for a period of time. I'll be underwater for a period of time on some shorter term stuff. And as it happens, your brain goes, well, I did tell you that was going to occur. And so it decreases that fear, it decreases that anxiety. So again, just a reminder because the, the, the natural brain of a trader, especially, you know, people like us in this group, we want to be correct on every single trade. We never want to be wrong, we never want to be down money. And anytime we're down or we're wrong or we're losing money, we think we're stupid and it's going to be frustrating. That's really just not the case. It's like it's, it's impossible to be right on every trade. So you're going to have to hold through losers. I mean again, even if you're in a long term position, if you're a long term investor, if all you do is buy the, the cues every day for the rest of your natural born life, right, you're going to be very, very wealthy person in 20 years. You're already wealthy, but you're going to be even more wealthy. But imagine, you know, you, you bought a bunch of cues down here around the hearts on the left hand side. You still had to deal with a bunch of down weeks right here. And what's about to come, you're going to be dealing with some of the down weeks, but you're still net, net profitable. Like it's okay. This isn't dead time right here. This is just time to learn and time to leave it alone. To go back to an example, when we're investing into anything, it's very, very wise of us to remind ourselves, okay, I'm planting a tree. Our boy Eric just planted some trees. Eric, you said you plant some trees this weekend. White pines. Why aren't you outside right now staring at your tree telling it to grow?

Because it wouldn't do any good. It's going to do it on its own. Just needs time.

How much time does it take for a tree to grow?

Oh, well.

That'S on how big you.

Want it to get. But if I, if I wait five.

Years, I'll notice, right?

I'll notice something every year. Every year you notice something.

What about every day?

No, nothing.

Yeah, so in trading it's, I mean, I'm letting you all know family is very, very similar, right? It's the same thing. Trading, investing is just like trees. It's like if you go out there looking at it every day like Yelling at it, go up, grow, hurry up. It's not going to, it doesn't matter. Like you're not going to notice anything. You're not going to see anything. It's a very, very small accumulation of things done correctly with, with understanding, with size and with realization. So same exact process, I think at least. So anyway, just saying all that, let you guys know that it's all good. Let's go look at some Amazon and some Google because I know a few of you are in this one and what an amazing time for Amazon to pull back. I mean, so cool, right? Look at this. Amazon and Google. Why, why is this spot interesting? Garrett, I know you're mostly in Tesla, which is perfect, but you can analyze anything. Why, why is this a spot for that to have full time?

Well, because it's shown resistance there before and it's just recognizing that and validating it.

Yep. And that is, that is technical. Just, just fascinating. Yeah, it is so fascinating to me. I mean, whoever. Because there, there are some people who sold here and made money right. Last time and then they did it again. Do you think those same people did it again? And the answer is yes. Now I say sold. That means that they could have sold their long position and made a profit or they could have sold a new open short position and made money as it goes down. Now I'm not telling you that you should have sold your position there, could have gone higher. But being that all of you are very, very smart, it's like we're studying the weekly chart. How long would it take us to go? Okay, cool. Amazon's at a really, really strong resistance. Now. We know, I know you guys. Anyone who's in Amazon is protected, obviously, but strong resistance, really beautiful area, nice pullback pop into the daily chart. And no real quote unquote warning sign necessarily, right? No real candle. Nothing that really stands out other than just knowing that, that that resistance is there and just, just a good, natural, healthy, very much needed pullback. This is one of those super fun spots that I would have, I don't have any position Amazon personally, but I would have loved to have been in. Because on this candle here or this candle or this can't. I mean really anywhere up in here, really anywhere. You know, you have earnings a couple weeks away and you're at an all time high. It's like that, that is such a fun spot, I think, to be like, okay, cool, time to hop into a caller because you got earnings right around the corner. You know, you're at an all time high. Just such a fun spot. So, Eric, what did you do up here?

Sold the covered call.

Nice. Which one did you sell?

I sold the May 3rd expiration at 195, and I collected $4 and 10 cents. And I'm just about to close it because it's down 75%. And then if we get a ABC reversal, maybe we'll get a couple updates and I'll just do it again.

Wow, that's so cool. $4. That's really good, man. That's a good return. Yeah.

So I am not protected on Amazon. I've been really, honestly, really bad about buying the protection. I just been selling calls and everything on these big stocks, just like. And not really worrying about it.

Maybe.

Maybe my history in real estate has given me overconfidence about stuff going to zero. But it's Amazon, Google and Microsoft and Chevron and Apple. So I. I don't know. What are your thoughts on that? About being under, selling a bunch of covered calls and just collecting all the money instead of spending some on insur.

I like it, dude. Like, I. I remember you're the one that asked that question, like, why would I even buy insurance on these people? Yeah, Like, I still.

And then you just said on the cues. I mean, all of us are protected, of course, or something like that.

I'm like, not me. Nope. I don't care. No, that. Trust me, that's perfectly okay. That's. That's why I'm bringing it up. Right. Just making sure you're like, okay. Yeah, I'm. I'm aware that this particular. This, this is the risk when I'm doing the COVID call sale.

Yeah.

Or sorry, not cover call sale, but just I'm in the position without protection, so. But it's. It's an interesting and very valid opinion and perspective, and I don't think there's anything wrong with it at all. It's just all about the recognition or the realization that, hey, this is what I want to do. This is why I'm doing that. That's the part it's like, okay, I sold a covered call. No protection on the downside. This covered call, though, still makes money as it goes down. But you can see and you've. And you've seen, you've noticed and Scott's noticed, and we've all noticed. And it's very, very good to be aware of it. If you sell a call and you only bring in $4 and the stock drops 12. I mean, how much? I mean, you're only making $4. Right. It's like, you make some money from the covered call sale. Yep. But here's what's cool. Have you done the math to figure out how many of those covered call sales do you need to do to pay for your stock?

I haven't, but that's what I'm excited about. Renting stock.

Yeah. Yeah.

It's just that I keep watching that video, that Airbnb video you made. That's pretty cool.

Oh, man. So fun. Because. Yeah. I mean, you make $4, it's $109. We figure out how many times we just need to effectively do that correctly, and then, boom, we've paid for our company, we've paid for our shares like that. So. So amazing. And. And going now, let's go back to just, what, September of last year, and you're in your shares of Amazon. Then you're just like, I. I don't. I don't know how to do any of that. I don't know why, I don't know where, I don't know when, don't know how. And so now it at least gives you the fact you're like, okay, it. Does it give you. I would say, I guess the question is, does it give you more certainty or more confidence with your timing, with your plan?

Absolutely.

Because, like, yeah, I'll hold through whatever pullback that we get, and that's that.

Jeremy.

Yep. Hit me.

Scott, I know we talked about gaps a lot. If you're in the middle of a gap, how likely is it to finish filling? Because I know some gaps don't always fill 100%, but if it's a large gap, like, for instance, you have Amazon up in. Right. In February at earnings, that big jump up, it's heading down, you think that's gonna be a point where it's gonna refill because it's already in a downward trend or.

It's a great question, man.

I know you have another small one just above that in, like, yeah. You know, March area.

Yep. So this one. This. This. This one looks like. Yeah, this one looks like a much. Much like, higher to fill. Yeah, man. I mean, that. That's a great question, because what's. What's the percentage of gaps that fill in general? Remember.

78.

Other way around, 87.

Really high.

Yeah. So 87% of all gaps filled if a stock gets into the halfway point. So the one I'm thinking of that came to mind when you said that was Army. Yeah. So this. This one was a really, really, really fascinating drop. I mean, because this is one that's like once, once this candle comes in the, the, the big drop right here, it's like, what, what else is holding it up? It's like, because you know that, you know at that point that it's at least going to go to here. But yeah, once, once the stock gets to the halfway point. That's a really good question, man. I haven't done any studying on that. I would, I mean my, my initial gut reaction was if a stock is halfway into a gaping filled, I think that would increase the probabilities from 87 to probably 97 that it's going to fill entirely.

It's like I have shares on this now. So I'm thinking to myself, if I just double down, not buying shares, but if I buy some puts more than what I have in shares. So if I bought two contracts saying I'm catching whatever I'm losing, plus I'm gaining back, so it's going to help me out.

100. Absolutely. Because here's, here's at this point a very, very strong awareness going back to some of the stuff that we studied in February with gaps. So we have now closed below this support. Right? Well, old support, new resistance. We're trapping with this volume. So we've now closed below that volume with this volume. So more bear, more bull volume has been trapped by less bear volume, which is going to really, really piss off the bulls. Right? Bulls are like, what the heck, dude? These, these little pip squeaks right here are, are taking out us. This, this is so lame. I would totally agree with you. Especially if we get back up to the open of that candle.

So we're going to retest that candle and then continue to fall.

That is correct. I mean that is high likelihood. Like 98.7% when you're talking about a trade where I'm like, dude, this is a 98 likelihood. Like most people are like, this is 50, 50. Like no, dude, you're, you're going to the roulette wheel and you're betting that it doesn't hit green right now. Like that's what we're talking about. And that, that, that, that bet doesn't exist that I'm aware of on the roulette roulette wheel.

So would you wait to buy puts when it retests that line and then it starts to fail, Correct?

I wouldn't say starts to fail on the retest buy some like when it hits that price. Because that, that's the, that's the thing that a lot of people will wait too long for Is.

I think it's going to hit it today. It could hit it today. It's only $3 away. Less than that.

Like $2. Let's see.

Oh, not $2. Sorry. I was thinking 90.

Yeah. Like 4. 4 or $5. Yeah. But yeah, if it 90 and the 94. So you could buy a little bit of, you know, you buy one put. 90. Buy one, put 94. Because you want to buy it on the uptick. Right. When you're buying a put. Yeah. What most. What most traders kind of forget or fail to do sometimes or whatever is they want to see this and then they want to see that verification. Right. That confirmation that starts to roll down. Well, the truth is we never have that verification. We never know if something's going to occur for sure. So we have to come up with, all right, this is what I'm going to do based on this evidence. And then once it starts occurring, implement that position. And that's. That's the only thing you can ever do in trading.

As Eric said, timing is everything on those. Because that call will be worth, like, so much less at that point in time and then so much more at another time. So.

Mm, yep, Exactly. Exactly. Man. And again, this is so. So, so we can practice this for future reference, because my. And I know when you were me and you were texting back and forth the other day, Scott, you're like, the only thing I just need to do is practice more. We all do. Right? We all do. But this is a really, really, really, really interesting charge of practice. It really is. Because I totally agree that this is a great spot to be buying. Right?

That.

That red line, like, by here, by here, by here, by here, by here, by here, all those are great places to purchase. Now, from the top, we look at this, and once you know that that downward trend, that. That that lower level starts to exist, you say to yourself, okay, well, what's the likelihood that we can come back and at least at minimum test this? You're like, at what price does that really begin to make sense? Or at what price does that happen? And then you start cycling through some of the moving averages, and let's just go back to the replay and let's just look at this particular candle here. Because again, yes, timing. Timing is a lot. But there are certain points where you have to go, did I miss this trade? Right? And if you answer, no, like, no, I didn't miss this trade, like, it's just beginning. There's a lot of money in that. And I love to go back, look At a position that I miss and go, okay, if I miss this position, which is fine, how could I have known? And what could I have done? So if I go into, let's go into the daily. All right, so the daily chart, we're below the 10, 20 and 50, so there's no support there. So those are cooked. Pull up the long term moving average. How far away is the 100? I mean, 10 points. Yeah, 10 bucks. Exactly. So I was like, all right, we got $10 before we even get to the hundred. So there's no, there's no daily support here at all. All right, so then we're going to pop over to the weekly chart and go, okay, now this candle hadn't formed yet, but if we pull up the 10, 20, 50 on the weekly, you, you were below the 10. And then the weekly 20 was at 102. So again, essentially where the 100 is. So the, the, there's no weekly support. And then if you look at obviously the weekly, you know, there's no, there's no 50 at all here on the weekly. So that means that there's no level of support there on the 50. Once you get below the, the, the 20 EMA on the weekly, which is 102, which is if it breaks the 100 and then you pull up the monthly, they pull up the monthly and there's nothing. There's no moving averages. So you're like, well, yeah, there's no moving averages because it's, it's a new stock. Exactly. Which means all the institutions and everyone who buys off these moving averages, right, the 10, 20, 50, 100 and 200 on all three major time frames, where are they buying off of? The answer is they're not. Doesn't exist. There's no algorithms, they haven't programmed. So you, you now have the trade. So if we pop back over to the daily chart and we go, okay, cool. So we're at 107. We know for sure there's nothing literally on the screen until the 100. Can't find it. There's nothing on the daily, there's nothing on the weekly, and there's nothing on the monthly. And you know that we have broken a support that we've held for months, right, since essentially February. And when I say broken, I mean we did it with a close, strong, close, strong volume. This doesn't mean that you have to exit your shares, right? Because if you're like, I want to be an arm long term because I like the company. Amazing. But like you said, and this is the part that excites me. What if you bought 10 put contracts here? Because you're like, this is a high probability trade that that's the best. Because then you're like, oh, well, I'm over insuring my position. I have 200 shares. I'm gonna buy 10 put contracts. If this thing goes down, I'm actually going to make money. Like, I'm not gonna. I'm not gonna almost protect myself. I'm like, I'm literally gonna be printing cash at this point. And, you know, you get that next day move. So the next day, like, okay, cool, I'm. I'm up a little bit, so I don't even have the. And then when it starts to hit the 100 the next day, it actually gapped down to the 100 at open the next day. So that means at open, you could have close out of those 10 put contracts. You close five, held on to the other five just to see what happens. Or you close five just to see what happens. Make a profit. You still have five that you purchased. And then, like we talked about last week, you could then sell a put against those same five with the exact same expiration, turning into an unlosable bear put spread. And I say unloosable. You've already sold five, and you locked in your profit. The other five that you own. If you sold a put against it and brought in more money for the put sale than the original put purchase cost, you. Can't lose on the position, right, because you brought in more money than it costs. So now you just. You have free put off. And if the trade goes down and it. And it just tanks and goes whatever to $60, your whole capture stops. Once you have the put sale, right after it goes below there, you're done earning money. But you're like, okay, cool, whatever. That's fine. No big deal. You made your money, right? It's all good. But you'd have actually been able to capture a lot of return. And then if we're starting to think about abundance here for a second, we're talking about 10 contracts. There will be a level in time, family, where you can go, all right, this is. This trade is now no longer, like, this is an A plus, high quality premium. I've got two trades set up. Garrett, would the market have noticed if you bought a hundred contracts?

Nope. Wouldn't even blink.

Wouldn't even blink, dude. Like, your broker wouldn't even know you were there. So for 100 contracts, right, your commission's what, 150 bucks? And your profit is 75,000. I mean, it's just like, what, Eric.

If you messed up the other day, I meant. I meant to buy a hundred puts on. On Tesla, and I bought 500. And it. It filled, like, in a second. I was like, oh, God. Fortunately, it blipped down for just like, a millis, and I closed him at a, you know, barely a little bit of a profit. And then I got back into the position I wanted, and then, of course, it dumped. And I would have been. I would have been like a billionaire.

Yeah. But.

Yeah, I know.

It's funny, man.

So, like, they don't care at all.

No, no, I.

It doesn't. Anything to them.

It doesn't. Guys, that. That's just how massive. It's amazing to think again. When I think about abundance, like, my goal is to get pulled by that. By that energy, to know. It's like, okay, I. I know I have the skills. I have the team, I have the people, I have the network. It's like, I want to be in that environment where I can do this. Do this research on whatever company I want to do it on and get that timing down and see these high, high, high, high probability trade setups. Take advantage of them. And I'm letting you know, gentlemen, that this is a very high probability trade setup. A retest into here and then a filling of this gap. And that is a 97% likelihood.

I put an alert on. I'm gonna do it. It looks pretty good.

And that'd be probably start of Elliott wave count of a new one off that.

Of course. Absolutely. Yep.

Y.

This whole time, I would have been waiting for that. To retest that. That support level. Right. That previous support, and it never did.

So what. What do you mean? This one.

That first bull came. Yeah. I would have thought that would have retraced at least 50% or something. And it didn't at all. It just. And that's what Tesla is doing right now too. It's just hammering down, like, ridiculous.

No good. That's. That's a beautiful point. So let's talk about why that is. Who can. Who can tell me? Because there is one. There's one answer that's perfectly valid. Why did this candle not retest at all? Why did we just drop, like, an absolute stone?

Because there was no moving averages to stop it.

That's one answer. Not the answer. I'm looking. It trapped so many bulls.

Who it trapped took out the volume of that big bull candle.

That's. That's also an answer. These are all Correct answers. Not the one I'm looking for. Exactly. They're all right, though. Go ahead, Scott.

What'd you say we fill the gap?

Nope. Well, I mean, another correct answer. Not the one I'm looking for, though.

Support line at 123.

The answer is it's sideways. When you have tons and tons of compression, right? On. On any stock, up or down, doesn't matter. Any pattern, any time frame. When you get a stock that trades sideways for a period of time and then you get a close. Up or down doesn't matter. Down's always faster than up. We know that. But when you get a sideways move for a while and then you get a boom, right? I mean, we can see, like, people like, the volume didn't increase, dude, it did 19 million shares that day. The volume doesn't have to be bigger than the. In fact, if you think about it, a lot of people say, well, volume has to be bigger than another volume to confirm the move. That is 100 inaccurate. And that. That's all my teachings, right? It's like. That's like me saying the bigger fighter wins. You know, like, if me and Garrett fight, obviously he's going to beat me just because he's bigger, right? I don't know. It depends on how much Garrett knows Jiu jitsu, because if. If the person's smaller, they can still. So this volume here is like Appalachian State beating the Florida Gators. That was the best. Was like a D3 school beating a D1 school by a lot. It wasn't even. It was actually, like, pretty. Pretty awful. So this. Meaning the. The volume doesn't have to be bigger. That's always an inaccurate statement. But the longer something trades sideways, the bigger the explosion will be. Let's go look at. Just for example, because this is a stock I will be buying, by the way. Team. I know you all know this, but Robin Hood on these pullbacks, this is going to be a really good pattern for me. But if we go to a weekly chart and let me just hide everything for a second, because, again, this is the stuff that you want to study in practice. If I zoom out here for a little bit, and we were trading sideways all up in here when we broke out with that kind of volume, I know it wasn't the biggest move ever, and at least not yet, it'll be bigger. But if we have this potential move here, why did we not retest this little pop? And again, it's because we traded sideways for so long. The longer something trades sideways, the less likely it's going to retest. Simple as that. Daily chart, 5 minute chart, 3 minute chart, weekly chart, tick chart. So, yeah, that's when, like, you're gonna really get in once it gets that close, because there's just no expected retest. Tell me about this website, Garrett, you posted for Gaps. What is this?

You can put any ticker you want and check the box that says show filled gaps. Check that box.

Okay.

And put in whatever ticker you want and then check that box and hit. Check the blue button. No, hit the check. Yeah, hit that box and then hit. Right, hit that button there. And that will show you how often that stock fills those gaps. And any gaps that are left open, it'll tell you.

That's so cool.

And if you, if you, if you pay for it, you can get up and down gaps and you can go back years, but it's free to check up gaps.

Love it.

And see what's still open. And just to get an idea of each stock, like how, how frequently it does fill gaps.

That's fun.

Like Tesla's 100. It feels every gap, which is.

Yeah.

And, you know, seems like that's good to know.

That's a neat site. So somebody in a forum or something posted that one day, and I, I saved it because it's. Yeah, it's pretty cool.

Yeah. All right. Thanks, man. Yeah. Okay, sweet. So let's go look at Tesla since we're talking about it. And again, I don't know. Yeah. This, this thing just keep. Again, I don't, I don't see any reason why it's going to go higher. I, I, I don't want it to go down.

120 is getting pretty imminent.

Yeah, guys, that's the thing. I don't want Tesla to go down. Tom. I'm in Tesla long term, and I am in my foots. I don't know what else, Like, I don't know what else to do. I mean, I'm in protection. The longer term position is red, but the puts are green. Puts are green. And, and this is again, this sideways move here. Right. This little sideways action right when we, we gapped out of that action there. So we gapped down that this was, this was it. This was the retest that two days. Like, that was the, that was the best that it can do because we're getting a retest just as a reminder. Retest really means it just needs to rest. Right. It doesn't, A retest doesn't have to. I mean, ever. I mean, we, it will at some point. Right. Do Something like that. But it doesn't have to do that in order to consider a retest. It just needs to chill out in trade sideways for a little bit. I wanted Tesla to do that. Right. That was what I. That's why I would have liked to have happened, because I would have gotten into even more downward protection. But after you had a bull candle here and you got that inside day candle the next day, that was my. It's like, hey, let me make sure that I'm in some positions. Let me make sure that I have some protection on the downside here. And there you go.

Look at this $7 gap down this morning.

Dude. I know, I know. So that's the thing is at this stage, like, obviously it's a retest, meaning, like it just needs to rest. But I, I don't. I am. I see no evidence at this stage. While we don't get down to the 100 SMA on the monthly, which is 1 1882.

Yeah, right there.

Right. And this. Yeah, exactly. And this all started too, when we started doing a bunch of the Elliott Wave counts on Tesla together. And we kept coming up with that. This was an abc, Right. And none of us wanted it to be an abc, including me. And I was like, but unless we go above here, like, this is going to be a 1, 2. Yeah.

Means we're gonna be low.

Yeah. I was like, I. I just. I don't know. I got it. Maybe.

Do you see 50 on Tesla? That's that, that last fair value gap down there.

Oh, yeah, dude.

It's.

Anything, anything is possible at this point. I won't, I won't call for 50 until we really, really get below here. Like get below here and start interacting with this hundred. Because we will dip below the 100 a little bit. And obviously the question is, will we go lower than this guy? Because everyone, everyone sees this pattern. And here's the crazy part. Crazy part is I think it's possible because if I'm looking at it and we just really zoom out again, because I try to always be unbiased on. On things. If I look at this and I say to myself, all right, well, here's what we really got, is you got some level of support here, some level of support here. We got the long term moving average. We've bounced off the long term before right there. So it's like very possible. But you have this lower. High. This looks a lot like what chart? Well, the one that we kind of looked at on arm. Yeah, it looks a lot like army. Yeah. So if we get down here and we start bouncing, it's like, are we, should we be buying down here? The answer is yes, absolutely. Just like on arm. Sure. But what if it keeps doing this? I don't know how long that would take, but if it did that and then it closes below here, however long in the future. Again, just working on ifs, can you make a bunch of money on puts between here and here? Enough money that you make the, that money on puts that you don't have that you don't even care about your down losses on your shares?

Yeah.

So.

So observation and a question.

Yes sir.

Is back on the 10th, I sent you a picture of $200 million in puts that were bought at 220 and 250. What the heck does this mean? So they bought puts at 2, 220 and 250. $200 million for the puts, which is enormously larger than any normal position size. And I'm like, what the heck is that? Well then I ran a strategy analysis on what if you owned 250 or 220 puts against your shares and you would lose no money all the way up to. If you own shares and you had Those puts at 180 or something, you could lose no money if it dropped to zero or it went all the way up to your put, there was zero loss because your shares would be gaining back enough or you'd be covered enough to go up or down. I mean it was like a, a net neutral bet.

Yeah, yeah. Because, because you're a delta of one that. Right.

That was a hedge that people were making back on the 10th against Tesla dumping and they are absolutely not going to lose a dollar.

Yeah. And that was, and that was probably like an Elon Musk, Nancy Pelosi. Yeah. All the, all the board members they.

Spent on put premium.

It's crazy, dude. Yeah, I mean, but that's the thing, man. It's like when you're talking about like these big, big, big companies that have a bunch of shares of Tesla, that's how you insure it.

So is that a smart thing to do to buy so far in the money or is that, I mean, if you own the. Compared to like what I'm doing now is I'm buying puts like at my basis and I realize that I'm going to lose the premium if it goes down, which in some cases that's, that's kept me from, from doing it because it's so expensive. Like, you know, that could be 7 or 8%. Where if I would have bought higher, you know, in the money puts, then even though the premium's higher, you don't lose, you wouldn't lose the premium. Is that, is that right or is that.

Well, you, you, you only, you lose the premium if it goes, if it goes up. I mean, because you're buying, put, you're buying the insurance, right? I mean, that's.

Yeah.

So if you're, if you're afraid of buying the, buying the money because of the, of the cost of the insurance and you don't want to lose that money, it's going to be a lot more expensive if you buy a lot more in the money if it goes higher.

But then your stock's going higher too. If you're, if you're one for one.

You got to make sure you own it.

Yeah, you have to own it.

Yeah, you have to own it.

100% have to own it. I'm talking about just if you think it's going down, is it wiser to buy a deep in the money put compared to an at the money put or an at your basis put?

I. Wiser. I mean, it just depends. I mean, I, I think it just comes down to risk control. Like I said, if you really truly want full 100% protection, like you do not want to lose any money at all on the actual cost of the stock, then yeah, you can buy a one for one Delta. Absolutely. Like, if you're like, I don't want any decrease in my shares whatsoever relative to the insurance that I purchase, it just costs more, man. And I guess also comes down to your time frame because out of the money puts or out of the money positions are all also going to increase faster as well. Like the, the actual ROI on them will be higher versus a one delta because one delta be a little bit slower.

Those were four when back on the 10th, those were 419 expirations that they bought. So they might have rolled them by now, but.

Yeah, either, yeah, either they rolled them, I mean, because they expect. Or they, or like I said that when they closed in the money they.

Sold those, you closed everything out. You'd just be even.

Yeah. And now they don't have to own this. They don't. They're not owning any of this Tesla now in this gap down, right? Yeah. So they bought, they bought a lot of put options here essentially. And those put options were striked up there, right? Deep, deep, deep, deep, deep in the money. And they closed in the money on that Friday because that was the expiration. So they don't have to roll them, but if you do 220. So now you have to go, okay, $220 million worth of insurance. Right. Which is controlling 100 shares. How many shares is that? You gotta reverse, like how many contracts they purchased. And you go, all right, well, that would be what. I mean, I'm just doing rough numbers. I don't, I don't exactly know. That's a billion and a half dollars worth of shares. So you go, okay, how many shares is that actually? And you go, okay, well, someone had to get fulfilled and had to sell 145,000 shares. And you go into pre market volume and you'll be able to see that transaction go through, essentially.

I thought that was, I thought that was also a good strategy for somebody who had to get a lot. Had to get a lot filled because you wouldn't. If you just bought the puts, right. You wouldn't have to worry about selling them and getting filled and losing more as you're selling them or affecting the price more. Made sense that they, that. But then as I was looking at it, you didn't. You don't really lose. It was, it was really hard to lose money on that trade. But you wouldn't gain anything if the stock actually started to increase again. Yeah, you wouldn't make a dollar.

Correct.

It was like it was 0 for 100 bucks either direction, you know, or whatever it was. It was a lot.

Yeah, exactly.

I was curious if that was a smart thing for us to. To consider.

All I can say is I haven't done it, so I wouldn't be able to guide anyone through it specifically. Yeah, I just play it all based on the strike price. I haven't bought super, super deep in the money because I don't, I don't. For me personally, I'm either too young and. Or I don't have enough capital to have a. I don't want a zero bet neutral. Like, I'm okay either lose or win. I don't need to be flat there and do nothing.

Yeah, exactly.

Like, I can't lose any money, but I can't make any money. I was like, ah, I'm just not that level. Yeah, but if you got a billion dollars, you're like, I don't want to lose a single cent. You do that trade, you're like, all right, I'll lose no money and I have a billion dollars still at the end of the day.

Yeah, well, then at some point you got to take the risk off, the protection off, and then you're at Full risk again, so.

Precisely. Yeah, precisely. This is gonna be fascinating though. I mean, because again, like you said, 100 of the gaps fill on Tesla. So which, like you said, it's almost 100, which means these gaps, right, they're going to fill eventually.

They will feel. Going back the other way for sure.

Going back the other way, it's like it's just going to take a little bit longer than we want. And, and I, I hope some of you are in some downward protection here either. Again, long puts, because that's how you make money as the stock goes up. Sorry, it goes down. Right, you own a put, or we talked about a couple weeks ago, I showed you the bare put spread that I was in on Tesla over earnings. And just to reiterate, to make sure that you're all comfortable with my analysis over earnings, which is tomorrow night, I, I don't think any gap up is going to save Tesla at all, personally. If it gaps up, like the highest gap it'll do is 162, I think, like, that's the absolute highest. And then it would just continue to get pummeled from the downside. Eventually it might go up a little bit that day, but you're going to run into a lot of overhead resistance. Those gaps will get filled and it'll kind of keep getting smashed. The only gap up that saves Tesla is open above 180. And I don't, I don't think that's going to happen. And that's like a 35% gap. So unless it opens above 180, which is not going to happen, Tesla, if it gaps up on earnings, which I don't think will do, will fade. So it'll gap up and it'll start trading lower. And that's gonna be very good for us to know if we're in some shares, because if we gap up, right, I got a bear put spread. So long put 165, short put 125. If Tesla gaps up and you're in that spread, can you buy to close this sold put on your spread? The answer is yes, you buy to close that and you still own this put. You know, if you bought it and so then stock goes up and then goes back down again, that put still makes money. So all kinds of things that you could do this stage. But yeah, it's going to be, it's very, very interesting to see what it does from, from a perspective of today, Tom, like, what should we do on it today? I don't think it's going to have a Huge range necessarily because we are so far down. So I don't think it's going to open and just plummet all day. But I'm not buying Tesla today on a day trade. Yeah. I will only look to short it very similar to Thursday. Yeah, so very similar. As it goes up, I'm just going to be letting it hit those moving averages and I'll be shorting it on the way down. And again, I might lose on a, on a position. I'm not. I'm not also going to be extremely aggressively bearish today either. And again, the reason why is because we're at a new low. So I could easily see some bulls coming in just to push it up a little bit. So I'm not going to be too overly zealous on the short. This isn't the highest probability short of all time, Tom, but the closer it gets to the low of yesterday, the higher the probability of the short becomes for a day trade. If anyone hears day trading Tesla, which I think is mostly just Garrett, maybe myself, maybe Nancy. Cool. All right, Good, good stuff. Ms. Joe, do you have any questions, any position you're looking at? I know you got your Google. How cool. Your Google expired worthless on Friday. Actually I forgot to take my take profit out. So it closed like before the end of the day, but would have ended up the same anyway, so. Yep. So close. Right. I mean that's, that's like on best case scenario for you. Had a 155 close at 154.09. Opening at 155 this morning. So you're probably gonna get yourself into a collar over earnings. If I had to guess. I was thinking of that. Yeah. Oh, deal. I like it. Let's see what else is out there. What's the spy. Yep. Plus the full moon's coming. I know you guys are big moon phase people. So the full moon is tomorrow. So you know, surprise, surprise, the new moon at the top of the market. Not a surprise to me. In fact, that's when I came out with the the moon phase indicator video. Trying to, hey, yo, here, you know, new moon all time high. Anyway, so again, a little bit of a good pullback. So again, this, this to me is a good spot where, you know, you get the full moon buying effect and we kind of pump a little bit and then the new moon comes back in a little bit of a pause. That would be almost too perfect. We filled the gap on SPY that we knew. It just, it just had to. It was too high to not fill. So SPY Spy filled. Here's a trade that I've been watching for a little bit. This is. I've been watching this start chart since me and Garrett talked about it a few weeks ago, month and a half ago is Abrambi and Fitch. And the reason I'm watching this one for a short family is because it, it, it's Abrombi and Fitch. Okay. It looks way too high and I don't know if you guys can see this or not, but that looks like a double top to me. So it doesn't mean it's going to go down tomorrow or today, but I would like to have some net negative exposure on this at some point. Let it, let it interact with that 100 a little bit. We've broken out of a triangle looking thing called a triangle double top, multi top. I don't know, Essentially on the, on a new high or a good pop of some kind. I'm gonna get into some negative exposure on ab crom and pitch. And what that's going to look like since earnings is in May is just to let you all know, based on what we talked about last week, for anyone who was there, anyone who wants it, I probably will get into a bare put spread. Now, Garrett, why do you think I would get into a bare put spread up here?

Why would we? Well, you'd be, you'd be completing a retest of that triangle pattern and your ma. Your major moving averages are down below you. So I'd probably buy one, sell one down below the moving averages and hope that you get some support down there to help with it. Is that the idea? Or am I now you, you gain if it goes down anyway.

Right?

So.

Yeah.

So it doesn't matter about the moving averages down below. Yeah, I guess. Just because you'd be retesting that triangle pattern.

Yeah, but.

But you're onto something though, because the question specifically is why a bear put spread? Why not just puts?

Yeah, right. Well, reducing your cost, but in, in your exposure, your potential loss is less. I don't know why not just puts?

Because. Yeah, because the overall. You. You mentioned it when you said the, the moving average.

Yeah, because they're there.

Exactly. And so it's like this could take its sweet time before it really rolls over because the moving average is going to kind of keep propping it up. And so if it takes its time to really, really dump, that means whatever put sale I do will. Will slowly evaporate because it's going to be decently out of the money. Theta will decrease. I'll kind of pay for my put, I get, I decrease my overall investment cost. And then if it does start to go down, because I'll probably do like a July or August bare put spread. And if it doesn't go down as fast as I want it to, then yeah, I will just decrease the cost. And that's really why. Because the trend is bullish. We all know that. But there's some reversal signals that I see one of them families being this volume, we're at an all time high. It's a triangle pattern. It's a triple top looking thing. It's Abercrombie and Fitch. Right. Like, why is this thing up 700% in the last two years? I don't know.

Is Abercrombie still in fashion? Is that still. Kids still wear that right now?

Oh, that's mostly. That's what Scott wears. Like he. This is where he. Yeah, he primarily shops. Well, that's the thing. I didn't even know that they were still in business, truthfully. Like, I had no clue.

I mean, I can't even fit in their clothes, so I know I'm not buying it. They're extra large. Looks like a schmedium on me.

That's right.

Once I got married, all those clothes went out the window.

Yeah. And my purpose.

And now I'm done.

That's right. The wife. The wife. Change your wardrobe too, Scott? Yeah, me too, man. Yeah. But again, this weekly chart does look like a double top. It looks like we closed below the neckline last week. We kind of retested it here. You know, you get a little bit of a bull candle, so you buy some on an up position. It's like I'm just letting you all know that this is one I'm going to be planning. And there's a few kind of reversal plays out there that I want to have some exposure in. But just as a reminder, if a position's in a nice, decently bullish uptrend, like Abercrombie is like, sure, it could roll over or maybe just has a little bit of a dip, but that's why I want to have some type of decreased exposure. And that's why we learned about the bear put spread and. Or a bear call spread. Right. And. Or both. All kinds of strategies out there we can implement if we're not extremely, extremely sure of the direction and or the timing. So many things we can do go back to square. So I did get into that iron condor on square over earnings. So the bear cost spread up here, the bullput spread over here, just as kind of like a reminder. And then Lulu, I know a few of you, Joe and a few others are in. Lulu with me. This is looking great. This is, this is what we want. Now again, I know we're in shares and stuff. Like I bought, I bought some shares too of Lulu and I'm in those and all the stuff. And I do like this long term and you know, you're. Well, whatever, all the things. So if I go to a weekly chart, we still got another $10 ahead of us. But I think when we get up into this 365 area, very, very good chance I will look into and see if I can find a bear call spread to get into. So the bear call spread would complete the iron condor and it would give me downside protection if we do actually get a little bit of rollover. So my thought process is something like if Lulu pops back up into here, now you got a bunch of bulls strong down move, right. You get a bunch of bulls coming in, they come in, they start to buy the stock up and then you know, if we get any type of move down or consolidation or whatever. If I get to a bear call spread like here, the trivia question, Joe, does it add any additional margin or risk to the trade? No. Nope. Was like we already got the risk as well. As long as our, long as our margin is $10, our spreads $10 or less, then it just doesn't add any additional risk. Like we could still lose on the position, that's fine. But you can't lose more than you're going to lose at the beginning if you got into that trade. So just, just something cognizant of. It's something I'm not really only thinking through, but something I'm most likely going to do. If the, if there's good premium and if there's not good premium, when we hit 365 for something like 390, 400 or. I mean the best case scenario would be a spread above here. That'd be incredible. I, I'll just close the bull put spread also if, if that's possible. So we shall see. But overall, overall decent timing. I mean, never catch the exact low. I got into the spread on open. I'd open on that day there. It would have been a lot better to get in at the close, but you know, can't time everything perfectly. Any questions, Joe, about that bull put spread or condor? I know you're playing that one with me. Yeah. And I was wondering about that. I was just going to Ask how that was looking, what the plan was. So cool. Yeah, I'm just gonna, I'm just going to be analyzing the bear call spread premium around 365. My preference would be to get it above the 420. I just don't think there's any, any money up there. But we'll see. It might, we still got $10 to go before I have to worry about it. And then if, if we get to 365Tom this week and there's no money up here and I can buy to close this for a good win, which would, I would consider that if I can buy that for 30 cents or less. If I can buy the spread back for 30 cents or less, I probably will.

Okay.

Yep. Because we still, we have more than two weeks left expiration and that would be about 75% approximate premium capture I got filled. But if there is premium available for the, for the bear call spread, you would leave it? Yeah, I'll leave it and just get into the bear call spread because then it adds zero additional risk. Yep, good question. All right, cool. So we got, we got a good setup on arm that we're looking at. Tesla still going down so that's doing its thing. Has a decent gap today. Looked at Lulu, Amazon, Google, Apple, anything else anybody wants to review any other positions? We looked at Robin Hood. I walk through that because that's, that's going to be a little bit longer. I mean shoot team like Nvidia. This is awesome. Like there's gonna be some really good opportunities here because this is a pullback into an uptrend. This is what you want. So we can have one more push lower on Nvidia. So go ahead and start planning. Are you doing bullput spreads? Are you doing put sales? Are you going to be buying shares? You're gonna be buying some longer term call options.

Scott, when are you done reviewing that? I said a question.

Yeah, yeah. So I mean just really zone in on this one. I mean don't let this one get run, run away from you. It always feels scary when you have pullbacks. But this type of move, I mean it's, it's gorgeous. It's amazing. It's stunning. I think we did a great job on the wave count on this one. So pull back into, you know here makes tons and tons of sense to me to start having some, some, some Nvidia exposure. But with that big drop, I mean you definitely, you can get some bullput spread and, or some put sale premium if you go low enough. So just make sure. You keep an eye on it. All right, big dog, what you got?

Do you know on Schwab's or TD Ameritrade, is there a way to switch to paper?

Because I'm very.

I understand what you're saying about the bull call spreads and all that, just clicking on it and doing it. I like to play around with paper first before I screw it up and cost myself a bunch of money.

100, dude. So when you're logging into thinkorswim, when you actually log in, like as soon as you're putting in your username and password, the very bottom of the login page, there's a button that says paper.

So you can't do it live inside here and switch the paper and go back and forth.

Because I was looking for that.

No, I mean the easiest thing to do would have paper thinkorswim on one account and then your Schwab platform on another screen. And you could do it that way.

So you can log in twice as long as one's paper one's live.

I haven't tried it, but I believe so I don't. I don't see why you couldn't. Long as you log into Schwab live and then think or swim, it's paper. I'm 96% sure you could do both, but let me know today. I haven't tried it personally, but I can try it pretty quickly. Yeah, because I just don't want to play around with. Oh, yeah, of course. Do you see that little button for the paper trick? Yeah, yeah, yeah. So as soon as you click on the Thinker Swim login, why when you put in your username, it's right below that. No. No way to miss it. Great question. All right. Yeah. Anything else, Jeremy? Anything that you're trading Any other positions? Anyone else have anything that they're looking at?

For me, I'm in those two swings, the Twio and the other one, which I can't remember.

I'm also watching Roku because I've been.

Waiting for it to come down into.

The 50s and it's down there. I think it's in like a wave. Five down. So that would be like a longer term play.

I think so. Buying. Buying some shares.

Buying low.

Yes. All right, makes sense. I get it. So there's. There's the Weekly. Yeah. So I mean that's. That buy low spot would be. Just keep an eye out for it to. If it closes below that volume, this candle here, it'll go lower. So just know that to be the case. Meaning like you can day trade it bearish. If you wanted to, you could buy more shares down here, you could buy some puts. Just, just plan on if it closes below that volume in that candle, the likelihood of it going lower is pretty high.

Sweet.

Yeah, exactly. It was like cool. I mean dude, you bought some Roku and $50, you know, back last year, you know, you doubled your investment, went up to 100. Like that could easily happen again for sure.

I watched that from the sidelines.

So that's why I've been watching it.

Because I'm like, I went, I want in on that next time it does it again.

Yeah. Yep. PayPal still want to watch for me too. It got super close to my violin price, so I'm gonna have to reconfigure that I think a little bit probably later today or tomorrow. And then Advanced Auto Parts also just rallied without hitting my 65 yet, which is okay. But that this one is showing some good strength. It's showing some resilience, which is nice. So I'll be, I'll begin to continue to plan on, plan on watching that one. Just kind of keep an eye on it for the most part. See if there's anything overly cool or special here. No.

Okay.

You can log into both at the same time.

Okay. Sweet, sweet, sweet, sweet. Yeah. Hess. So that, that was, it was a nice little pullback, man. I mean has Chevron, most energies had a quick, little, quick little dip.

I'm just back into the money on that one again because I dropped. I still have it in a wave three count because I was my previous count. When you go to the left, that was the all time high and that was the end or that was a one for me.

Okay, So like, like.

Yeah, no, I think I had it different.

Yeah. Looks good though, man. I mean just earnings is right around the corner. I don't think that Hess would have a crazy earnings move of any kind. But yeah, just a nice little pullback to the 50. Good immediate bounce.

Do you think oil stocks are better right now? Seeing how that there's going to be a war on it, that'd be more valuable?

Yep, I believe so. Yeah. And, and really the big thing too is there's a chart called crude futures. So crude is like that's the, that's really the driver, right, for all oil stocks. And this is, this is the weekly. So you're getting above those long term moving averages on the weekly, which is good. And then the monthly, right, you're above the 2, 200 on the monthly. So this Is the. If you're looking at the crew like this is. This is the recovery, is it? When it went negative during the whole Covid situation, had a big, big rally, good steep pullback into the 200. And so now we're going to chop around here for a little bit. But ultimately, yeah, man, I don't see why, why it doesn't go higher. I think oil stocks like Chevron, I know an Arboy, Eric's and Chevron pretty hard. I know you are. So you just have that quick little scare from the Iran Iraq thing. And again, this is, this is just unfortunately the way it always works. Everyone gets afraid on. On war stuff. Markets always sell off on war stuff and then they always bounce. So it's like you always buy dips on war news, unfortunately, like that's, that's just kind of the thing. Not not only with oil, but just kind of like in general markets are going to sell off when you have a big war and then you, you buy that dip. Yeah. So I think this can continue. Yep. Just kind of comes down to do you need or do you want liquidity? Again, depends on how big your position is. If you need to exit your position, you can. If you need to do a covered call or again get into a caller, you can. All that's available. Just all comes down to how long you want to hold. Great question, Ms. Joe. Anything else, Jeremy? Anyone? Anything you want me to review for you? Okay, good. For now, just dealing with the red. Yep. Just create the plans. That's it. Create the foresight. Yeah, just create the foresight. Create the plan. Go through your charts, make sure you know what you want to do, where you want to do it, and, and yeah, that. That's really it. Right. Just know where, when and how can I come up the plan, think through it and go. Okay, cool. This is, this is what is likely to happen. This is what I think's gonna happen. This is why I think it's gonna happen. And just make sure you get your implementation down. That's really it. Just start planning on.

Okay.

If this is all. If all this occurs and this is what I think is going to occur, and this is when I think it's going to occur. This is my reaction to it. Right. I either want to, I want to protect myself, I want to be inputs, I'm gonna sell calls or I do nothing for three months and I just hold through some red. Right. Watch a tree grow. That's okay to go day trade or nothing or just kind of keep waiting and just practice and get ready for June, July, August. That's also okay. Yep. But you guys all know, keep me posted if you have any questions or needs. Tomorrow, for those of you who want to, we will be doing another option discussion, Additional ultra Wealth at 1 Central, 2 Eastern. And we're going to talk about calendar spreads and ratio spreads. And then the next Tuesday after that, we're going to be discussing option collars. Just so that you all have the information, because you have the recordings. Right. You can go back and review it anytime that you want for the rest of your human natural life as long as the Internet works. And then on Thursday, I'll just be happy to review all of your positions and all that kind of good stuff. Again, same time as normal, 2pm Central, 3 Eastern. Then next Monday we'll have our session. Then Tuesday again, same thing. The additional last Ultra Wealth. And then Thursday, I think Thursday will just kind of like be a little bit of a free for all on the second. And then Monday we're going to get into the. Yeah. May we talk real estate? So, family, you're amazing. Let me know if you have any questions anytime. Okay. All right. See you guys. Thanks.