Hey yo, what’s up folks? What’s going on everybody? Welcome to the True Training Group live stream. Welcome if you guys are just tuning in from the Dallas Baltimore game. Hell of a football game. Um, and not if you’re a Cowboys fan, you’re definitely super pissed off. And you’re probably saying to yourself, I don’t know why I put myself through this year after year. And you’re probably saying to yourself, the same old Cowboys, the same old team. I feel your pain as a Giants fan. Trust me, I feel your pain when you say same old team. Um, but as long as you’re not a Cowboys fan, that was an unbelievable football game. Um, it really was. It was just absolutely unbelievable. But you guys are not here to go over sports and football. No, no, we’re not. We’re here to go over stocks. We’re here to go over the markets. We’re going to talk about options, futures, maybe even a little bit of crypto. And more importantly, what do we have cooking this week and how we going to make some money? We had a nice week last week. Caught a couple of really nice trades. And then now this week coming up, we’ve got two really big catalysts. One, Micron earnings. Two, PCE inflation debt. Actually, I take that back. We have three really big catalysts this week. We have Micron earnings on Wednesday. We have PCE inflation data on Wednesday. And then we have the jobs report at the end of the week. All three of those catalysts are most likely going to move the market. So, we have to kind of go over and discuss where we are with this market. We’re going to talk a little bit about bond yields. Um, I will go over that just a little bit with people here. It’s a huge topic that I think people need to understand what’s going on with bond yields. Um, I will start by telling you I’m incredibly impressed by how well that equities have held up during this surge in bond yields. Bond yields aren’t just moving higher, they’re screaming higher. And, you know, typically it’s not just the it’s not necessarily just the yield itself, it’s how fast it gets there. And just last week, we had one of the sharpest moves that I’ve seen in a very long time in bond yields. Um, it is something that I does concern me. Um, it’s not something that has caused me to sell aggressively in my long-term portfolio yet. I have not. Um, I am still fully invested in the long-term portfolio. Um, but if it looks like the Fed is going to embark on an aggressive rate hike cycle, I’m probably going to start to be trimming some. I’m probably going to start to take some profits in my long-term portfolio if they start to get aggressive with their hike cycle. Uh, right now the markets are pricing in over a 60% chance the Fed hiking again in October. And the now people are starting to think about they might be hiking 100 to 150 basis points which I think if they end up doing that I believe that that will end up being a mistake. Um and if they do end up hiking to that extent you guys are most likely going to see me make announcements to within the members of True Trading Group and also I’ll do that here on the live stream. Um but obviously probably like a week or so delayed from when I actually do start to do it because I do these live streams on Sunday evenings. Obviously, I’m with members of True Trading Group every single day, trading live with them, sharing my screen. It’s not just myself. There’s seven other professional traders that are live with us that share their screens and trade in front of our members live. They answer questions, provide market commentary, analysis throughout the throughout the day. Um, but I will definitely let you guys know if I do start to sell some stuff in my long-term portfolio, but I have not yet. Okay. Um, and that’s another conversation for another time. Honestly, I don’t want to waste, you know, too much time tonight going over kind of the the bigger picture stuff. I will go over that as we get closer to the end of the year and I get into my market allec report for 2027. Every single year at True Trading Group, I publish a very in-depth, long, detailed market allec report where I talk about what I think the market’s going to do. I go over the sectors that I think are going to perform the best for the year. And I go over individual stocks that I like within those sectors that I’m going to be buying within the first couple of weeks of the year. Um, and I do that every single year inside of Training. I’ve been doing it now for the last six years. And the goal there is just for us to be able to outperform, you know, the S&P um, and to outperform even the NASDAQ. And we have done it so far every single year that we have published those reports is something I’m incredibly proud of. I take about two months to actually put that report together. It can be a very long lengthy report, but I do put images and charts and graphics and and you know my research and everything goes into this report. So it’s not just it’s not just you know 20 30 pages of words. Um a lot of it can be like images of charts or or you know my research. It’s something that I the members of True Training really love when I do that. Um and I love doing it too. And you know, as we get closer to the end of the year, we can talk more about that. But for tonight specifically, let’s really just stay focused on what we have coming up here this week, and that is PCE inflation data, micron earnings, and the job report. And on top of all that, bond yields are screaming higher. And the president just rejected Iran’s second proposal. So, we had the UN assembly last week. Um and during that UN assembly, Qatari mediators were going back and forth between the US and Iranian negotiating teams and the Iranians had presented a proposal for um a ceasefire and to reopen the straight of moose and they gave their terms. They gave this is what this is, you know, if you do this then we’re going to open up the straight of moose and um the president rejected that first proposal. Uh two days later, the Iranians presented a new proposal and we just found out uh on Friday evening that Trump has rejected that proposal um as well. So the market started to move higher on Thursday and Friday on the hopes of some type of an agreement coming to fruition. um we had a nice little recovery on Thursday on news around that topic and then you had an extension on Friday of news around that same topic when the Iranians put forth that second proposal. Um and then there was a report by Al Jazer that said that they were moving towards discussing the technical aspects of the agreement which says which kind of insinuated they moved past the initial discussion. Um and then the markets continued higher even further on Friday. I can show you even on the charts you’ll see exactly when these news headlines came across the wire. Um so right here is when one of those headlines came across the wire. That was that they had moved through to a technical uh that was that they moved through to technical discussions and this was the initial um initial news headline on Thursday. So you can see the markets got a little optimistic that hey maybe now that we’re going to get a deal here that the first deal was rejected and then within the next two days the Iranians sent a new proposal but the president has rejected that proposal also. So we are getting a little bit of a gap down here on futures. Um, and you know, I went over with members I went over with members inside of True Training Group on Friday a couple of if this then that type scenarios around this, you know, the this new uh proposal because we didn’t know if if it was going to be accepted or not. Um, now that we know that it looks like it’s been denied, there’s a there’s two setups here that I really want to kind of focus on, and I’ll go over both of them with you guys. Um, it’s essentially how I think that we’re going to get the market is going to play itself out depending on what the news ends up being later this week. So, long story short, there’s a lot going on. US Iran micron earnings PC inflation labor jobs report. Okay, so this is not the week to be trading by yourself. This is not the week to be trying to figure things out. This is not the week to be testing out something new. This is the week to capitalize on what will absolutely undoubtedly be really high market volatility, which means bigger moves in shorter periods of time, which means better opportunities for you and I to make money. Okay. So, I can probably sit on this live stream for the next three, four hours and talk to you guys about the bigger picture, the long-term portfolio, interest rates, bond yields, inflation, the Fed, and we can go over a ton of different things. We’re not going to do that. We’re going to just kind of buckle up right now. We’re going to put the helmets on, put the mouthpiece in. We’re going to roll our sleeves up, and we’re getting ready to make some damn money this week. All right. I think this is going to be a really big week. So, let’s dive in. Let’s not waste any more time. I know you guys probably want to get to the who plays tonight, the Rams and the Broncos. Rams and Broncos. That should be a good game tonight. So, I’m sure you guys probably want to get to that. So, I won’t take up too much of your time. With that being said, if you guys are new to this channel, okay, maybe you guys have not tuned in before. Maybe this is your first time. Welcome. All right. If you’re not familiar with who I am, my name is Michael Edward Parinati. I go by Michael Edward. I’m the co-founder and head trader of True Trading Group. TTG is a fintech platform, guys. We are not just a chat room with trade alerts and courses. We are designed and exists to help you learn faster, trade smarter, and profit sooner. That’s what we’re going to do here tonight. This is a fintech platform, a trading software that has that is, you know, leveling the playing field for retail traders. We give retail traders access to tools, resources, data, and analytics that rivals those that professional traders from all around the world have access to with all the different Bloomberg, you know, Bloomberg terminal or professional software system that they that they use. We have built out a platform that has actually received the global benzinga fintech award for best AI analysis tool. We are partnered with and powered by the NASDAQ benzinga openai data bento unusual whales and some others. So this is an award-winning platform folks. This is something that you guys get access to when you join true trading group. Yes, you get access to the social community aspect that is true trading group. Okay, the chat room, right? All the trade alerts and the education. That’s true trading group. TTG AI is the software side. All the tools, the resources, the trading systems and software that you will have access to as a member of True Trading Group. Okay, that is what makes the big I think is the big you know difference maker for a lot of our members. At Trinity Group, we have a retention rate amongst our members that is in the 70 percentile, which is unbelievable, unheard of in this industry and in this space. Many of our members have been with us for four, five, six, seven years. Also unheard of typically in this space. A lot of you might have signed up to other communities, other platforms in the past and you were gone after a few months if it was a monthly membership or if it was a yearly membership, you were gone just after one year. But the reality is members of your training group stay with us. And that’s because they actually do well. And by do well, I mean they actually make money. And if you don’t believe me, that’s totally fine. I don’t expect you to believe me just because I’m some guy on a YouTube channel with a cool painting hanging over his head. I would expect you to believe that the things that I’m telling you because members will tell you it themselves. Okay? Members of your trading group that are on this live stream right now, do me a favor real quick. Type the number one if you’re making money becoming better traders because of TTG. And anyone that’s on this live that is not a member. Maybe you’re new. Pay attention how many people you’re going to see type of number one because these are your peers, your friends, your family members, your co-workers, these are these people literally once were you sitting on a live stream on a Sunday evening trying to just get some tips on how to make some money during the week. Maybe they made some money on the analysis that I provided. They’re like, you know what? Maybe this guy sounds like he knows what he’s talking about. Let me join. And now here they are years later still with us making money, becoming profitable traders, improving on their results, their consistency. That’s what this is all about. That’s why you guys are here. That’s why you’re here on a Sunday evening at 8:20 when you’re about to have kickoff between the Rams and Broncos. That’s why you’re sitting here watching this live stream. You’re probably doing both. You’re probably multitasking. But that’s why you’re here. You’re here because you want to make money. And I’m telling you guys this right now. this week that we have coming up, all the catalysts that are going to be unfolding. I believe you’re going to get moves in the markets that are going to allow you to do exactly that. And not just by a little bit, I think by a lot. So, pay very close attention. And for those of you that are not members, this is the perfect week for you to just come trade with us. You have you don’t have to be a full member. You can be a a trial member. We have a 90-day trial that you guys can join. You can get access to the tools and the trading systems and software that we have, and you guys can trade with us throughout the entire week. Go to trtradinggroup.com990. It’s a 90-day trial for 90 bucks. It’s a dollar a day. And the reason why I do this is because I believe so strongly in the platform that we’ve created that you guys, if you use it, if you use the tools and the resources that are available on the platform, I believe that you’re going to do well. I believe that you’re going to make money. I don’t believe that because I’m just a a wishful thinker. I believe that because about 74% of our members do. That’s why that’s why I believe that. So I feel if you guys join, okay, I feel if you guys were to join, use the system, you have 90 days to use it, make money with it, and then I think you’re going to want to become an annual member. We listen, as a company, and True Trading Group is a business. Don’t don’t get it twisted. This is not just me with like a Discord chat, and I just do this for fun. No, True Training Group is a business. We have over 30 employees. We have 11,000 members from 114 different countries working partnerships and relationships with companies like the NASDAQ, Benzinga, and OpenAI, okay? This is not just me with a, you know, a Discord room, okay? This is a business. So, make no mistake about that. Yeah. There you go. Six years strong. Somebody’s I just joined after hearing a recording. It’s amazing, you guys. I’m just reading getting caught up. reading some of the comments that you guys have coming through um on the screen. But like I said, um those of you that join the trial, we’re going to lose money on you guys during your 90 days because all of our systems are, you know, the AI usage that we have, it’s all usage based, right? So, you’re going to spend you’re going to use it more than what’s going to cost us a dollar a day. And I’m okay with that. I’m I’m making an investment. I’m going to put money up essentially for you to use this for 90 days. And I’m going to lose money on it. And I’m okay because I believe once you use it, you’re going to want to stay. you’re going to join for the year and then I’ll make money on it. That’s the deal. And I think that’s the way that it should be. It shouldn’t just be, “Hey, listen. I’ve got this product that costs thousands of dollars.” It doesn’t. But I’m just saying, “Hey, I got this product cost thousands of dollars. Just trust me. Sign up and it’ll it’ll make you money.” No. If it’s that good and it’s going to help you make money, then I should let you use it first. No year commitment, no big upfront payment. 90 bucks, 90 days. Knock yourself out. Go to town. go nuts and then tell me I’m lying because I believe you’re going to use it and you’re going to be like, you know what, I never want to trade without these things ever again. Because that’s exactly how members of True Trading Group feel right now here today. So go to trueradinggroup.com990.
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I went over with members on Friday my thoughts. I gave them if this then that scenarios for what our trading our plan of attack what our plan of attack was going to be come Monday morning depending on what happens with this new proposal from Iran to reopen the shredded formoose and I told members I said guys listen if there’s positive news around this and there’s actually some type of an agreement some type of deal then I would have had an which is not that’s not the case. President Trump has rejected Iran’s second proposal. So right now that’s not the case. But I’m going to tell you what the scenarios were on Friday before we knew what this what the news was. And I’m telling you this plan because maybe Monday or Tuesday or Wednesday maybe you do get some type of positive news. And if you do at least now you have a trading plan around it in case something like that does happen. Again I will repeat this is not the case right now. This is not the news, but if you were to get positive news around some type of a deal, there’s only two resistance levels left on the spy that you need to really pay attention to and then you’re at a new all-time high. And I do believe that if you were to have some type of actual deal or an agreement that the markets would be able to push and make a new all-time high because I think it would be driven by a short squeeze. The month of September is historically an incredibly weak time of year. It’s actually the only month out of the calendar that over the last h 100red years is actually red more times than it is not. Every other month is green more times than it is not. So September is historically the weakest month of the year. But on top of that, the last two weeks of September are even more so the weakest two weeks of the entire year. And all of that is even more so true and even more weak when it is a midterm election year. So coming into the month of September, there was a lot of short um shorting that was taking place. There was a lot of hedges that were getting put on by hedge funds and traders and people all over the world, right? Because they were preparing for what was what was anticipated to be. The Fed was going to raise rates, seasonal weakness, bond yields are moving higher and everybody started to position themselves for a downside move as they should because all of those things combined you would think would make equities move to the downside. They just haven’t. They haven’t. And if you were to actually get some type of a positive deal, I think that all of the shorting that has taken place in the month of September and all the hedging that is taking place in the month of September would cause a short squeeze. I think all that hedging would get unwound and all you have you have programmatic buyers step in like CTAs would step in. These algoers would just turn on buy programs and unwind all of those hedges. And I believe that would take you to a new all-time high. The the thing the way to play that type of news would be, again, if you’re just joining me, this is not what I’m telling you I’m doing this week. I’m giving you if this then that type scenarios. If you were to get positive news around some type of a deal, the play here is a gap up above 775 on the spy. If you gap above 775 on the spy on some type of positive news, for me it is a very high conviction long on any pullback into the mid770s and then take profit into the new all-time high of 779. But hold hold because I believe the unwind of the hedging and the short positions would take us to the new all-time high. You’d be looking at probably at least a 2 to three day trade where you get in on the breakout of the 775. you enter on the retest and you hold onto that position for probably two to three days moving forward and get the new all-time high and get the extension move. Okay, that is what the play would be if you had positive news around that new proposal to reopen the straightup for moves. Now, with that being said, put that idea in your back pocket. Save it
for later. That’s not what we’re talking about now. What happened now was that the president has rejected Iran’s new proposal to open the trade for mutes. That has caused equities to move back to the downside, giving a little bit of bump in oil prices. And now the way that we’re going to take this from here on out is the market gave you a nice little bounceback move on Thursday and Friday on optimism of the continued negotiations and this this these new proposals that Iran was submitting. The market started to get optimistic about that. Now that we know the president has rejected it, we could be looking at a situation here where we just kind of take back that entire move. And that’s kind of what I’m thinking about. If because bond yields are still are still high and without any significant move lower in bond yields, I just don’t think that equities are going to be able to con to considerably move higher or significantly move higher. I think any type of a move to the upside without bond yields coming down considerably. I just think any move to the upside is going to get met with resistance up at resistance levels and I don’t think those resistance levels are going to break. Now obviously if you got some type of positive news around a US and Iran deal that would cause a very sharp decline in bond yields and then that would allow equities to continue to move higher and make the new alltime high. But as it stands today, I’m coming into this week leaning on the bearish side of things. I’m coming in here saying to myself, the markets, you know, had a nice strong move on Thursday, had a nice strong move on Friday, and it was all driven by optimism around this this new possible deal. Now that it’s been rejected, I’m going to look for a lot of that optimism that ended last week to come back out. Okay? And where we sit right now, if the markets were to open up right now, based on where futures are sitting, we’d be opening up right around like 769. Okay? The spy would be sitting right around here. And what I’m going to be looking for tomorrow is I’m going to be looking for essentially us to just take back and just kind of wipe out Friday’s move. So, I’m looking for us to just kind of give us something that looks maybe a little bit something like this, a candle there tomorrow that looks like that and gets us back down into Friday’s low. So, my game plan coming into this week is going to be leaning on the short side of things to start the week off and look for us to get back down into Friday’s low. Friday’s low is 766. So, we’re going to look for a short side move into 766. And then if there is still, you know, nothing positive um that happens on Tuesday, we look for 766 to break. And you look for a continued move to the downside as bond yields continue to rise. And then you get back down into Thursday’s low. Thursday’s low is 763 and a half. Okay? And that’s kind of what I would be looking for here, Monday, and then into Tuesday. And let’s just let’s just back out the optimism that we experienced on Thursday and Friday. Okay? So, like here’s Thursday’s move, right? There’s we had here’s that news. Bang, markets popped higher. And then here’s that news on Friday at noon. Bang, markets popped higher. The news came out right around noon on both days. So, like 12:15 on Thursday, bang to the upside. And then 12:00 on Friday, bang, back to the upside. So, then let’s just let’s just look for us to just back that move out and get back down into those mid to low 760s. And once we get ourselves back down to those mid to low 760s, we then establish our footing. We find support at the gap fill. You have a gap fill here from the 18th. And that also lines up with this dark blue line you see on my screen, which is the 50-day moving average. Okay? So, we are looking at the 50-day moving average, a gap fill from the 18th and Thursday’s low and all these previous pivot highs from earlier in in the month of September and just get ourselves right back into that nice that that nice little zone. That is what I’m looking for coming into the week. That is how I’m looking to start the week off. Okay. Now, if there’s any type of positive news, obviously this changes. Okay. But as it stands right now, those are my thoughts. That’s what I’m looking at. Okay. Um, then Wednesday, we have PC inflation data in the morning. We also will have on Wednesday, we’re going to have Micron’s earnings. Those are going to be really important. So, that’s why I’m giving you I am treating this week as two separate instances. Monday and Tuesday for me are an ent are one one trade all by itself. I just gave you Monday, Tuesday. Wednesday, Thursday is going to be something different. Wednesday, Thursday, Friday, my trading plan will be dependent on what the PCE data looks like and how Micron’s earnings are. And it’s not just how Micron’s earnings are. I think everyone expects Micron Micron’s earnings to be great. Um, but it’s really, you know, how does the stock react to what is probably going to be a beat and raise, does the stock sell off even though they beat and raise or is the stock rewarded with upside? And, you know, once I see what the PC data is and once I see what how Micron responds to earnings, then I’m going to have a very clear plan of attack for Thursday and Friday. Okay? Okay, so I’m going to break this week up into two separate instances, Monday, Tuesday, and then we’ll wait and see what PCE looks like and micro earnings because PCE data, if PC data comes in hot, it comes in higher than expected, bond yields should continue to move higher. Rate hike expectations should continue to move higher and that should absolutely pressure equities to the downside. And if that is the case, then I will continue to be short because I’m already gonna be thinking short Monday and Tuesday. I will continue to be short if that’s the case. But if for some reason we get a really um a much better than expected PCE data number, um that could cause bond yields to retreat. That can cause rate hike expectations to fade and that can allow equities to breathe a little bit. So I would probably not want to continue to step on the short if that data comes in cooler than expected. All right. So we’re going to treat this as two different things. Monday, Tuesday, and then we’ll wait and see what happens on Wednesday. Okay. Get it? Got it. Good. That’s a deal there with regard to the overall markets. Now, let’s keep it moving. Some individual stocks. Couple of short setups that I do like. One of them is Salesforce. Um, and it comes down to this 230
uh this 230 level. Okay. Now, if Salesforce breaks 230, we got to look for a short.
Here is your 230. I would not say anticipate the break of 230. I would say you’re probably better off waiting for it to break, but this is the uh that big earnings gap up. There’s your gap entry. You dropped down into it on Tuesday of last week and it held support. But that bounce did not last very long. You ran into the trade line, which is this teal line you see on my screen. It’s the 9 EMA, this teal line. and it immediately acted as resistance and push the stock back to the downside. So, what I’m looking for here is if you break 230, 230 probably should become resistance then and then I would look for Salesforce to continue to fade down into that gap and get back down into some of these nice major levels of support. We got a lot of support down here around 215 to 220 and that’s kind of the area that I’m going to be looking for. Okay, 220 is support pivot from here from January. Then you had a huge gap down in January that creates a nice little resistance top. And then he had resistance there in August. And you have the dark blue line coming up which is the 50-day moving average. So I like the idea here underneath 230. I like the short stop loss will be back above 230. And I like for a target somewhere in between 215 and 220 for a target there on Salesforce. All right, that is CRM.
Next up, Oracle. Okay, Oracle had some some mega news last week um Thursday. And you can see I have this nice support level drawn out around 139ish. And I will draw this for you a little bit more. There you can see this used to be support. You broke it. You had gotten back above it in August. it became support and then it was support once again and again and again. Then on Thursday we got underneath this level, tried to get back above it Thursday into Friday and you can see we failed. So what I’m looking for here is I’m looking for this area to continue to be resistance on Oracle and I’m looking for Oracle to do something that looks like this.
Okay,
that’s what I’m looking for. All right, that is Oracle. So again, we’re going to be looking at your stop loss is probably going to be north of 140 and your entry is probably going to be somewhere around 138 or so.
All right, that’s going to be Oracle. Next up, guys, we have IBM. Okay, IBM very similar setup here to Oracle. We had a very nice um area of structure here on IBM. And you can see here this area was resistance in July, resistance in July. Then you broke above it and you have support in August, support in August, support in August, support in September, support in September, support in September, and then on Thursday it broke. And then on Friday, you tried to get back above it and it acted as resistance. So, we’re going to continue to look for this 229 level to be resistance on IBM and we are going to continue to look for IBM to fade. Okay, we are looking for IBM to get down into the high 21s. Okay, we’re looking for IBM to get down to like 218ish. All right, your stop loss on this is going to be above 229. Okay, above 229 will end up being your stop loss on IBM. and we look for a target to try to get this thing down into the 21 teens. Maybe like a 217 218 area or so is what we’re going to be looking for there on IBM.
Any questions so far on any of the short setups that we are going over here? We have IBM, Salesforce, and Oracle on watch.
If you have any questions, now is the time to ask.
All right, perfect. Uh, and then with that being, I mean, listen, I I never like to just have a watch list that’s all just one-sided. Those are going to be some of my top focuses. And I, like I said, I am looking short here to start the week off. So, I’m going to be trading tomorrow. I’m going to be trading S&P futures. I’m going to be trading IBM, Salesforce, and Oracle. All four to the downside is what I’m looking for to start the week off. Uh, but I’m also going to throw in just one stock in here that I think just continues to just be unbelievable. And it’s just Apple. You know, Apple up here against this double top. Um, we got a very strong double top here at 345 for the all-time high. And it’s just you got a nice support level at 335 and this 9 EMA I would just if you want to be long something I think Apple’s a pretty decent name to be long and if you do get some type of positive news then look for Apple to make the new alltime high but this is kind of more of like a a backseat or a rainy day I don’t know plan B type of thing here because I am coming into this week like I leaning on the bearish side of things. Okay. Um so if if I am right with my analysis, I’ll be making money on Monday, Tuesday, short S&P futures, you know, Oracle, IBM. Um and then I’ll wait and see what happens for the PC data then on Wednesday. Okay. And that’s really it, folks. So I have a pretty narrow focused watch list for this week. Um, you know, futures are starting to head back down towards lows. We’re down, you know, a little more than a quarter point. We’re almost back to the lows, which was like down like, you know,.3%. So, here we go. Some people are asking me about some serious symbols. I’ll take a look real quick. SMCI, um, SMCI, you know, has actually, you know, done pretty well here. I mean, you broke through some resistance you had around 42. You can look for 42 to be support and then look for it to continue higher. If you’re going to be long, also I think semiconductors are probably a good place to do it. You know, AMD has been unbelievable. Micron’s been unbelievable. Uh SMCI has been strong. Nvidia has been great. Um so if you’re going to be looking for longs, I would say, you know, staying in the um I would say staying in the AI trade is the is the way to do it. I would not try to be long something else, right? I would try to really be focused staying long on the AI trade and not try to go and go go after something else. Um, that has a beta to the market. If you’re going after something that’s not really correlated to the market, that’s something totally different. But if you’re looking at stocks that are correlated to the overall market, I would probably, you know, look look maybe somewhere else. Okay. Uh, someone says, “Would you short SpaceX?” Um,
I’m probably not going to. Um,
but if I mean if it breaks 145, maybe it could be decent.
Everyone should.
You guys lost me there for a minute. All
right. Yeah, I’m not sure what just happened. I just lost connection there for a minute. Um, yeah, I I so many people have wanted to short SpaceX with the share unlocks, but
the stock kind of refuses to to to fall and I I don’t know. I I just want to be careful try trying to short that thing. You know, maybe you guys are right. Maybe this thing does just roll over and but so many people are expecting it to roll over with the share unlocks and it just hasn’t. Um and if this thing starts to move to the upside, it it could squeeze. I actually tried taking a long on SpaceX what two weeks ago. Um and we um it wasn’t able to break through resistance. We took profits, you know, into 156 and 158 um right into here. We took profit and then we ended up exiting the rest. Um, we ended up exiting the rest of it. I think 152. I don’t remember exactly where I got out of it. Um, but yeah, we ended up, you know, doing we did okay on it. Made a little bit of money. Nothing crazy. We didn’t get like the follow-through move that we were looking for, but we did get profits off 156, 158, and it was just um I don’t know if I’m if I want to short it.
I don’t know if I want to short it. You know, it actually kind of worries me like like if this thing for whatever reason were to gap up tomorrow and like buck the trend, you can get a candle tomorrow just looks like that. There’s so many people that are short this thing. Um, and I just I just think that if this stock gets through this zone, right? Like see this zone right here, all this support from the IPO and now it’s resistance. If you get through that, I think the stock rips. Like if you get through the mid50s, I just I think the stock rips. And I will I will definitely be there for that long if that happens. And if this thing just breaks down and just rolls over, I’m not going to be short. I won’t be long, right? I just I don’t think that I would be pulling the trigger for the short because I’m I’m actually looking for the long setup. Um, so if it does roll over, I just I I won’t be I’m not going to be long obviously, but I also probably will not be short because it’s just not on my my list um that I’m looking at for the short side of things. I’m going to be looking at, you know, I’d rather be looking at like a Salesforce and IBM, Oracle, um, you know, that’s kind of what I’m what I’m thinking about there with regards to SpaceX. Okay. Thoughts on Meta? Um, love Meta, but I I just think Meta’s gone too far, too fast. So, Meta had this huge massive move in the month of September. The stock was at a 560 to start the month. It went all the way to 780 and that’s going to be right in front of your all-time high resistance. And the all-time high is a very strong double top put in place last year around 770 or excuse me 790 and you ran right up into that um on Thursday and then you just got a nice big pullback day on Friday. What I think needs to happen here on Meta honestly is I think Meta needs to consolidate up here. Um, I think that, you know, Meta had these hu this huge move, but now I think it’s time for that stock to kind of consolidate a bit and try to put in a little bit of a bull flag, maybe let this 9 EMA catch up. This 90A was support, okay, here earlier in the month. So, let’s look for, you know, another another pullback move down into the 9 EMA and then let’s look for the stock to try to bounce from there and then try to put in a little bit of a a period of consolidation. I think I mean the stock has just run too far too fast and I think that that stock needs to consolidate beneath those all-time highs. Somebody else also asked for Bloom Energy. Um Bloom Energy, you know, looks good. I just I’m just not
I just don’t think it’s an ideal setup right now with where the stock currently sits as far as riskreward goes. You have a really nice support level around 250. 250 was a resistance here in August. You broke above it in September and then it double bottom support and you got a nice big move here. But it’s like where do you go from here, you know, and I don’t I don’t see I don’t see a real clear-cut setup here where I would like the riskreward. You know, maybe maybe if you want to look for another day, something that looks like this, like what like maybe a three-day move here. Um, and then you can say maybe you look for support in the low 280s. I would probably say I wouldn’t be looking short, but I’d probably say like 282, 283, somewhere in that area for possible support and then see if Bloom can get into the low 300s is probably how I would I would look at that.
you like uh service now short 135 level feels like it’s going to break. Oh yeah, 135 that that is a nice level. So I I do like this um arsh good eye. So you’ve got this resistance level here at 150, right? And that used to be support. Then you broke underneath it the first trading day of the year that it became resistance and sold off. You rallied back up into it, became resistance. Now you have a minor very minor level here at 135 and if that that that’s givingven you a little bit of a floor for the last two weeks. If that breaks you have a very nice support level here at 130 and that’s the target right so 130 you can see we used to have um used to have resistance at 130 broke above it support and then here comes the 50-day moving average. See this dark blue line coming up? This dark blue line’s coming up here. So, you can look for a nice little, you know, drop down into here if 135 breaks. If 135 breaks. Thoughts on XRP? I assume you’re talking about Ripple? I have no thoughts on Ripple. I don’t trade Ripple. I don’t even look at Ripple. The only crypto that I would trade is Bitcoin and Ethereum. So, I don’t necessarily really have any any thoughts on on Ripple at all. Uh Tesla, somebody also asked me to to look at. Tesla, I think, is is a very tough call right now. I would just find something else to trade. I’m being completely honest with you. Um, the way that I look at Tesla, okay, you’ve got resistance at 390 and 385. And really, I’d say it’s like a just a zone of resistance. I don’t I wouldn’t even necessarily call them two separate levels. I just think that that’s your area of resistance. You can see a little bit of structure support in early July and then you know more resistance there July and then you can see double top highs here in September. So essentially it’s like 386 to 390 and that’s kind kind of your resistance zone. But I don’t
I just don’t have high conviction on how far you know I don’t have high conviction on an entry targets you know your stop. You guys have to realize like be being a good trader is not just looking at a stock and saying I think it’s going to go up I think it’s going to go down. Being a good traders is you’re not just ident you’re not just trying to find direction. You’re trying to find probability and you’re trying to you’re trying to find good riskreward. So there could be a situation where I could see a stock and I can be like, “Yeah, I think that stock’s going to go higher.” And you might and then you might be, “Well, are you going to trade it then?” And I’m like, “No, I’m not.” They go, “Well, why not? You think it’s going to go higher? Then why wouldn’t you buy it?” Well, just because I think it’s going to go higher doesn’t mean that it’s a good trade setup. It doesn’t, you know, I need to have good riskreward. I need to say, “Hey, if I’m going to risk two bucks a share, I got to make be making four.” you know, if I’m I need to feel comfortable that this is a high probability setup that it’s not in a consolidation phase. I want to make sure that there’s directional momentum. If there’s not directional momentum, then I’m going to at least be trading a rangebound type of move. And I don’t see necessarily a rangebound move right now in Tesla. And I really don’t necessarily see any directional momentum either. I see a lot of up and down. I see a lot of red and green. I see a lot of chop. And to me, I see that kind of price action. It looks like just something that you know one day you think you got it, the next day you don’t and you spin yourself in circles trying to figure it out and in the meantime you’re missing out on some other good setups that have much higher probability. And that’s kind of the way I feel about Tesla right now. I haven’t had a good good kind of finger on the pulse of Tesla over the last couple of weeks. I think it’s been a pretty difficult stock to try to gauge. There’s been a lot of days where it had relative strength. Then there were days that had relative weakness. There were days that, you know, it would go with markets against markets. Days it looked like you were going to break down and bounce. Days it looked like it was going to break out and then and then, you know, sold off. I just to me this just doesn’t look like a really good trade setup. To me, this looks like a little bit more of a consolidation and and more like choppier type of trading and just not something that I want to put myself in. So, I mean, I hope that makes sense. You know, I I I love trading Tesla, but I trade Tesla when I see a really clear, clean cut pattern. And just right now, I don’t. Right now, I don’t. All right. So, there you have it, folks. All right. That’s my thoughts. That’s my game plan coming into the week. Hope you guys feel better prepared now for the week. We’ll see what futures look like tomorrow when we open up. We’ll have to keep our ears open for news. Like I said, if I know I’m telling you that I’m coming into the week leaning bearish, right? But if there is some type of news, like let’s say Monday afternoon, oh, Iran submitted a third proposal, right? then okay then then my thoughts are going to change because because then the markets will probably move higher on the back of that news like they did on Thursday like they did on Friday right but if nothing like that happens and there was no positive news around US and Iran then I’m going to look for the optimism that we got on Thursday Friday I’m looking for that to then fade ourselves back out we’re going to look for 766 and eventually maybe 763 764 if we don’t get any type of news if you get good news we got to adjust that a little bit. We’re going to have to think twice about the short. We’re going to have to probably get ourselves into maybe a long or two to kind of offset. Um, if you’re not a member of True Trading Group, you’re obviously not going to know if and when I’m doing that because you’re just here on the YouTube channel. I don’t I don’t I’m not with, you know, I don’t trade on YouTube. I trade inside of our platform with all of our members. Um, so if you guys want to join us, you are more than welcome to do so. We have a 90-day trial. You can trade with me live. We have seven other professional traders that trade live, share their screens right in front of you, answer questions, provide market commentary and analysis throughout the entire trading session. You guys can use the trading systems, tools, and resources that we also have on the platform for 90 days with that trial. It’ll cost you $1 a day. No big upfront commitment, no year commitment. 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