Video summary
The video begins with an energetic introduction to a live day trading session on August 20th, where the host analyzes a significantly bearish market opening. At the start of the stream, major indices were down sharply, with the S&P futures dropping 32 points and the Dow leading the decline by nearly 84%. While some sectors like gold, oil, and agricultural commodities showed strength, technology stocks faced mixed results, highlighted by a massive pullback in MRNA following its previous surge. The host notes that cryptocurrencies were pumping again, with Bitcoin rising above $72,000, while interest rates climbed and the VIX increased, signaling heightened market volatility. Despite the negative sentiment across most equities, the trader maintains a disciplined approach, emphasizing price action over indicators and focusing on risk management during this first hour of trading.
As the session progresses, the trader engages in active position management, specifically dealing with Circle (CSCO) options and QQQ puts to capitalize on market weakness. The strategy involves entering positions at specific price levels and setting tight stop-losses or profit targets based on real-time chart movements. For instance, after initially loading calls on SMCI and SpaceX, the trader adjusts their stance as these stocks fail to hold key support levels, leading to exits or cuts in positions like QQQ puts when they refuse to break below previous day lows. The host demonstrates a dynamic trading style, constantly monitoring the interplay between chip stocks, which eventually show signs of life with AMD and MU bouncing, and the broader market indices that continue to struggle near their lows.
The latter part of the stream is characterized by a choppy market environment where momentum shifts rapidly, forcing the trader to make quick decisions to protect capital. Although there are brief rallies in chip stocks and a rebound in Bitcoin, the overall trend remains downward for major indices like the Russell 2000 and NASDAQ, which test their lows repeatedly. The trader decides to scale out of some positions early rather than waiting for larger moves, acknowledging that zero-day options decay quickly in such volatile conditions. By the end of the session, having hit a few small profit targets but remaining slightly red on certain trades due to slower scaling, the host wraps up the stream, promising to finish the Circle trade later and returning tomorrow for the next trading session.
Read the full video transcript
[music]
Wake up. Wake up. It's time to get
going. Got [music] to catch those
runners taking off like a ruin. If the
volume spikes, then it's time to trade.
Mighty 90 setting up. It's time to get
paid. Navigation trading on the mic.
Time to get focused. [music]
We don't need any indicator. Hocus
pocus. It's all about the price. Just
watch it move. Manage your risks so you
don't lose. First hour of trading is all
we need. [music] Focus on the patience
and forget about greed.
[music]
Good morning everyone. Welcome to
today's day trading live stream for
Thursday, August 20th.
We've got the S&P futures down 32
points. NASDAQ is down 151. Russell down
22 and the Dow down 442 giving us the
Dow as the weakest down about 84%.
Gold's down about a half percent, silver
is up 1 and a half. Notes and bonds are
a little bit red. 10ear yield up almost
1%.
Oil is up over 2 and a.5%.
Natural gas is down two down 2%.
Soybeans, wheat, and corn are all green.
Euro and the pound are up slightly. And
Bitcoin, cryptos pumping again. Bitcoin
up uh back above 72,000, up 5%. VIX up 6
and a.5% currently at 15.87.
Biggest movers, cryptos, MSTR's up nine,
Coinbase up six, Hood up four, Riot
Blockchain up 2.6, six.
Uh, AVGO and Nvidia are a little bit
green.
Netflix a little green.
Biggest red MRNA. Little 13% pullback
after going up 176% yesterday.
Baba's up uh Baba is down four and a
half% 5%.
Baba had earnings I think right or is
that after the bell today
had earnings before the bell? Yes.
As did Walmart. Walmart's down 7.3%.
Dan, are you on here? Dan 89.
Dan told me to go long. Walmart, it's
down 7%. Moel took me down on Target.
Dan took me down on Walmart.
I need to stop listening to you guys.
Chris is the only one that gave me the
right answer. You know you're in trouble
when Chris is [snorts] the one that gave
you the right pick.
All right. Uh let's see.
On the econ calendar for today,
[snorts] we had jobless claims this
morning.
But the big thing, the market started
going down about 6:00 a.m. Central
was more uh yield curve
discussions going on.
little bounce off the lows
in both the S&P and the NASDAQ.
Uh I'll be entering a 1DTE iron condor
at the open.
We'll see. I may um
we'll see what else I decide to do.
I entered that single calendar to
initiate a DCTM yesterday. So I'll
probably just stick with that for now.
Just see the one I entered yesterday.
Nor.
[bell]
All right. There is the bell.
Looks like SPX has a
range today of about 33.2ish
to answer your question. I'm not
switching
I'll still be doing both. I'm just, you
know, DCs have always have obviously
been struggling in this environment. So,
switched it up a little bit with that
longer duration single.
Still be doing hedge iron condors, but
not I'm not replacing double calendars
with it.
NASDAQ up to previous day low. A little
bit of rejection trying to push through.
now. Pushing through.
One DTE should come through here
shortly.
There we go.
No, I leave that on just for you, Chris.
Yeah, I turned it off. All
right, taking a look around the cryptos
which are the biggest gap gappers to the
upside are pulling back a little bit at
the open.
Apple is showing the most relative
strength early up at previous day high.
a little continuation off of its 3-day
run at TED.
Some of the chips are bouncing AMD
up to pre-market high.
MU trying to stay green.
SMCI.
It's up above previous day high.
I guess the cryptos like the whole
yield curve thing going on. or maybe
it's unrelated but
couple days couple days in a row now
few days in a row Bitcoin's been going
up yesterday was big and then big gap up
again today.
Yeah. So, probably a combination of
those things.
Is this a crypto bill in addition in
addition to the was it the Genius Act or
whatever they got done that David Sachs
got done a couple years ago or last year
Apple back below previous day high.
AMD still pushing.
AMD up above pre-market highs now. SNDK
getting some strength. SMH looking
strong. MU pushing.
So chips coming to life a little bit.
Indices bouncing.
Was
that Watson get it getting squeezed out
of his MSTR shorts? Is that what it was?
PLTR is weak falling.
Tesla's acting weak.
Nvidia starting to get a little pumpy
up through premark uh pre-market high.
Apple big rejection
after showing that early strength.
I'm going to load some calls on SMCI
here.
I would trade the one DTE.
Wow, these things are cheap.
39s, I guess.
I'm not going to do that. They're only
if there was zero DTE, I'll do it that
cheap. But that's just
that's not going to work out well, I
don't think. Getting already getting a
little bounce.
SpaceX trying to reclaim previous day
low.
Yeah, SMCI. I like the chart daily as
well as the short term, but I don't like
one day options at 60 cents or whatever
they are at.
Yeah, you could buy shares for sure.
It's only a $38 stock.
Indices pulling back a little bit. Tips
pulling back.
SpaceX kind of rejecting previous day
low here.
I'm going to load some SpaceX calls.
if it reclaims above this previous day
low.
I like I like how it's kind of flushing
a couple levels here on the daily and
the pre-market lows,
but I want to see some strength here
first. I would trade the 138s.
It's a little different than kind of a
typical setup I do, but
Indices popping back up.
Order filled.
See if it wants to break here.
Nvidia chopping around pre uh pre-market
high.
Amazon starting to bounce.
Apple trying to grind its way back up a
little bit.
Crypto's bouncing back.
Coin. Nice little bounce off previous
day high.
Yeah, SpaceX just kind of rejecting. I'm
going to
That's probably off the table.
Yeah, watching the cry. I'm watching the
cryptos here.
Crypto Bros.
Hood's kind of acting the least strong.
Coinbase showing
relative strength here.
MSTR is more up more on a percentage,
but this last little push, coins acting
the strongest.
PLTR trying to drop uh trying to pop
back up. Chips are rolling over.
I'm going to look at circle 83 calls
if I can get a if I can get a fill down
closer here to this 81 level.
All
right, I'm going to start a position
here in circle
starting at $159. Nine.
indices pulling back. NASDAQ back below
previous day low.
Well, I went in pretty small because I
was wanting to potentially add if we got
down to about that pre-market area, but
it's holding previous day high for now,
which is fine.
Tesla trying to bounce.
SpaceX still going lower.
I'm going to add some QQQ puts to my
watch list.
>> Order cancelled.
>> Order day.
>> Order filled.
We start to break down here. I'm going
to take some Q puts. I'll use the 707s.
I'm going to take some Q puts [music]
filled at 65
long circle. Circle short cues.
I'm going to put an order at 85 in the
Q's to take some off if I get a quick
drop.
Circle still just chopping above
previous day high.
SpaceX continuing to fall. Nvidia rolled
over.
A lot of the chips rolling over.
SMCI didn't end up holding that previous
day high.
Q's filled at 85.
I'll put an order at a dollar to take
some more off.
All
right, I added some more circle at 147.
Now we need our bounce circle. Now we
need a bounce.
Some of the crypto stocks kind of
dipping, but Bitcoin,
bouncing
little bit.
Q's popped back up to previous day low.
I'll take some circle off at 170.
It bounces.
Q's kind of getting aggressive now.
I'm gonna I'm gonna cut Q's
out of 51 on those.
It's a little bit aggressive there. Q's
Circle still holding but not doing much.
Need to need to push up to highs a day
at a circle.
Be back in one minute.
order filled.
Now the Q's dropped back down.
Got me. Got me out.
Damn it, Ken.
Russell at lows of day.
SpaceX still putting in new lows.
Krypto's just fell asleep.
Wake up circle.
might look at re-entering the cues here.
Circle starting to bounce.
I've got my order at a buck 75 in circle
filled at $1.75.
All right. Circle. New highs. Let's go.
I'm ready.
I've been patient with you. I'm ready.
Q is just kind of chopping around
previous day low here.
I'm going to put an order at 205 in
circle. That would hit just below highs
of day.
coin starting to push back up. Bitcoin a
tiny bounce. MSDR tiny bounce.
I'm going to take the Q's again.
Filled at 68 and 69 cents.
Well, previous day low rejection again.
Let's see if we can get some
momentum to the downside now.
Try to close some at 86.
Circles. a little bounce kind of
stalling out.
What's not stalling out is SpaceX's
dropped
back down below IPO price.
Russell is the weakest
of the three. It's going through lows
below pre-market low.
NASDAQ almost down to lows today. I need
a little quick push below lows.
Nvidia going through lows.
NASDAQ
didn't want to go through lows
yet.
Back to previous day low.
Circle making another attempted bounce.
Order filled. Not a very strong one.
>> Order cancelled.
Order filled.
Tesla rolling over.
I'm going to add a few more cues here
at 53.
If we pop up, I'll cut.
I'm going to move my target to get out
of that ad at 75 in Q's. It's coming
down.
Come on. Crack the lows, little buddy.
You got it.
You can do it.
Big bank staying weak.
Chips just kind of choppy.
Most everything's kind of choppy.
It's kind of back and forth except for
SpaceX. SpaceX has
gotten a little bit of an extended range
lower.
NASDAQ right back to the level.
Got an order to cut if it starts to
bounce here.
Need a rejection.
MU starting to bounce back up towards
highs.
Apple gave it all up.
Tesla almost back to lows.
Watching cues for a cut here.
Give it just a minute to see if it's
going to get back under, but otherwise
I'm going to cut.
Circle just grinding, holding and
grinding, but no no no momentum at all.
Russell continuing to stay pretty weak.
Well, MU is going through highs of day
right now.
AMD starting to pop. Yeah, chip SMH
starting to bounce. So, kind of
surprised Q isn't acting stronger.
We need MU to reject
highs of day. We need the chips to
reject here to get Q's lower.
Got a minute left on this 15minute bar.
I'd like to see it reject that previous
day low again. Close under.
All right,
right at previous day low still 15
minute closed a little below.
See if we can crash.
Except for circle.
Cryptos can cryptos can go up.
Circle could not get back up to highs of
day. Pulling back to previous day high
now.
order filled.
I'm going to move my target to 70 cents
in the cues. Try to get out of some
before lows of day.
MU little rejection at the previous high
of day.
Little pullback in the chips.
I'm going to move my cues to 68 cents. I
want to get out of some before the lows
of day.
Zero DTE premium decaying with these
little choppy bounces.
Circle little
little dip getting bought up again.
Russell going through lows again. S&P
going through lows. NASDAQ needs to join
the party. MU decent rejection
off of a previous high of day, which is
also pre-market high.
circles. Little bounce getting pushed
back down now.
That's just straight chop.
Had a lot of hope for the cryptos
pre-market. They were moving.
Q's just refuses to break lows a day.
Refuses.
Order filled.
Russell hitting the lows. I have marked
from August 6th.
SpaceX making a new low. Nvidia making a
new low. Tesla new lows. met any lows.
There's a fill at 68 cents in the Q's.
Finally ticked the new low.
Close to it anyway.
Circle right back to previous day high
Q's immediately bounce off the lows.
Whoa. aggressively.
Do not like this bounce
circle pop too though.
See if Q's wants to hold below.
circle. Little little pop. And now
fading.
I'm about to cut the cues here.
watching.
Well, it's holding below.
Q's getting some really good support
down here at that 711 level.
Circle fading.
All right, I'm going to cut the cues.
[music]
All right, so I hit a couple little
profit targets, but I take I took off
less than half on those exit. So
that Q I'm a little red on the Q's.
A lot of times on my first profit
target, I'm taking off more than half,
but
I just thought we'd get a little move.
So, I was going to scale that a little
slower.
Uh, still holding circle. It's still
holding. So, I'm still holding. I'm
going to go ahead and wrap the stream.
I will finish the circle trade in the
trade channel.
We've got MU pushing through highs now.
Chips are starting to bounce. AMD back
in the green. SMH back in the green.
The chips come alive.
So do the Q's.
All right. Uh remember, no power hour
live stream today
as posted on the live channel, live
scheduled channel. Uh but we'll be back
for day trading and power hour tomorrow.
Everybody have a fantastic rest of your
day. Talk to you soon.