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alright guys good morning focus trades members I'll see you guys this morning at 9:00 a.m. we're gonna trade live for the first hour of the session or so for those of you guys who subscribe and you're not in the focus trades group yet you can click the link in the description of the video for a free trial to the $10 a month group ten bucks a month guys so you literally have no excuses to not learn how to trade options so market makes another all-time high yesterday guys and we get a little bit of fade here this is the range that I'm looking at right now we have the previous breakout you know to the all-time high run right here at 318 ish 319 mesh right and then we obviously have the resistance of the brand-new all-time high right around 3 2015 3 2017 so as far as getting a feel for the markets next short term move whether it be a continuation of this move to the upside another breakout another all-time high or potentially beginning of a little bit of a pullback I'm just looking at this range right here guys alright resistance up above at the all-time high we could see some port down here at that prior breakout level this is the tight range I'm gonna be focusing on as far as the spy goes to get a feel for the markets next move so let's talk a little bit about NVIDIA and I covered in yesterday morning's prep video a few swing trade ideas for NVIDIA I'm not gonna cover those again this morning for you day traders for you short-term traders obviously last week this makes a beautiful move we pull back a bit here on Friday and now we're starting to consolidate and go into what's known as a squeeze here on the hourly chart so for those of you guys and girls in the focus trades group you know that we love these squeezes and all we're looking for here guys is a move out of this consolidation whether that be a breakout to the upside whether that be a drop to the downside it's made a nice move it's tightening up now on resting potentially getting ready for that next leg of a move maybe to the upside here so this hour of the squeeze is something I'm gonna be focusing on and I'm sure you guys will as well read the tape look at volume right keep an eye on options flow it's one thing to identify a potential breakout it's another thing to be able to see here on the level to whether or not the buyers and the sellers are taking control that's gonna give you a better feel of is this thing actually gonna break out or is it a fake breakout is this thing actually gonna break down or is it kind of you know if I had fake learn how to read tape guys that is the key there now AMD here much like an Nvidia there but to a little bit of a bigger extent makes a great move last week pulls back here on Friday you know here's a tray that I took we got a stock here it's in a clear uptrend it makes a pullback there on Friday on that dip those put premiums are popping through the roof I sold the 38 strike puts so we get a nice move to the upside yesterday that killed those puts so looks like another paycheck is coming my way from another put spread few different ways you could look at AMD here guys you know big picture thinking we're looking for a continuation of this momentum to the upside one of the cleanest trends in the market as of late obviously makes a big move last week we've got some resistance up above here so you could wait for that move above forty three you guys can decide how you want to go about this whether it be a day trade a swing trade buying options selling puts end of the day the volumes been coming in it's been one of the strongest names in our market along with Apple and we continue to see crazy options flow without a doubt I am decent main that should be on your watchlist for me I've got that put spread I already made my money on this thing I'm patiently waiting for that next opportunity whether that's a breakout above forty three whether I sell more puts on the pullback time will tell but AMD should be on the watchlist for you know the foreseeable future here all right so the mover of the day yesterday was Tesla now a typical Tesla fashion it just does some crazy [ __ ] I'm not gonna give you guys suggestions on how to trade this whether you should go along where the you go should go short what I am gonna do is give you a few things to think about right as far as supply and demand and as far as psychology goes we're looking at Tesla here it's made a big time move as of late and I made an even bigger move there yesterday now it's looking like we could potentially be heading towards that all-time high just under 390 what I want you guys to think about right is that with a name like Tesla that on one end of the picture there's hedge funds there's large institutions that are long and believed in the stock and believe in eman right and they're long to the tune of 100 and millions but at the same time there are Short's who believe this company should be worthless that have hundreds and millions of dollars tied up in short positions so you got such strong opinions here regarding Tesla you know on both sides of the game it's been the history of this stock I want you guys to pay attention to where this thing is sitting right now we're at a level right now where we have seen historically for this stock a shitload of distribution right doesn't matter how strong the move to that level was they dumped the [ __ ] out of it right they're dumping it here they are dumping it there they are dumping the living hell out of there there and they're dumping this [ __ ] out of this thing again right here so once twice call it three four five different times here Tesla has made the same kind of move we're singing right now right just Rockets towards this level call it 380 right call it 390 whatever you may this general range for Tesla has seen some crazy drops right so we have seen people get the hell out of Tesla in a crazy fashion at this level so why is that important right why should you respect that well for one if you're a swing trade and Tesla calls right now you shouldn't be surprised and you shouldn't be shocked if we open up one day and we're beginning a nasty ass move to the downside these things move guys in these levels of support resistance all these pretty pictures on the chart they're created simply from buying and selling the reason that this thing dumps like freakin crazy here is that there's shitloads of selling there's more supply than there is demand so you need to be respectful of that and you need to be mindful of that the other thing though right it would always mix Tesla such an interesting name is that you have large hedge funds who are going short big-time right they're going short big-time here they're going short big-time here and so on and so on a lot of large institutions are going short big-time in this given range where the stock is sitting right now while that could repeat itself and we could see another nasty drop to the downside what could happen here guys is something known as short covering if you went short up here that's kind of your line in the sand and if you're a hedge fund and you're going short fifty a hundred million dollars worth and guess what in the event that the stock begins to break above that level begins to break above your cost basis you might want to get the hell out of there and you might want to get the hell out of there quickly this is known as short covering where the stock can make an above average move a very aggressive move to the upside not just due to buyers coming in but because the shorts have to get the hell out of their positions and that short covering can add a little bit of fuel to the fire so that's what makes Tesla such an interesting name right now guys it's quickly approaching a level that it is quickly approached before and it hasn't turned out good for anybody long so be mindful of that respect that if you're in the focus trades group this morning during our live session we're gonna watch the tape here on Tesla and get a feel for who's taking control the buyers or the sellers so if you're looking at level two we'll be looking at time and sales it'll be a great lesson for you guys so those are a few things I'm looking at today I wish you the best of luck I hope to see you in the focused trades family soon and I will talk to you guys tomorrow morning for the next morning prepped for you
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