Trading a Smaller Account | Barbara Armstrong | 1-29-21 | Market Forecast Explored & Example Trades
all right everyone welcome to trading a smaller account my name is barbara armstrong and i am delighted to have you all here so today my friends we are talking about the market forecast tab we're talking about the significance of it and share a little story with you about that we're going to manage our current portfolio and we're going to look at what we might want to do going forward so we have a jam-packed 45 minutes coming up you won't want to miss a thing thanks for being here stick around all righty okay so um we have the privilege of having mike fairborne with us in the chat this afternoon he brings a wealth of experience with him um if you are brand new i encourage you to type in a greeting as you can see we have a very interactive community here at td ameritrade and particularly in this class we end up with a lot of people ants asking and answering each other's questions so if you have questions hopefully we've got answers for you i always scroll back through at the end and i look at all of the questions in the chat and if we've missed something i will post an answer on twitter okay now i know i said that last week about a trading journal so i have a little update for you on that once we get through our important information but um hello to everyone that's here uh special kudos to don hill and see casey and sal and daryl and neil and chris and terry and thomas and radio wayne who were all here before the the bell even struck one and typing into the chat um and to juan and yoko anita and alfred and many many others thank you for being here um i saw a question and i'm going to read it out loud and i am going to answer this it's like please give us some encouragement my smaller trading head count has been hit this month is it just too dangerous a period for novice investors so you know that's that's a really good question um and we're going to talk about that okay so let's get through our important information so that we can get out to the platform where you know we make the magic happen okay so options first of all we do a lot of options trading in this class not exclusively options but but a lot and options are not suitable for all investors as there are special risks inherent to options trading that can result in rapid and substantial losses we are very big about defining our risk in this class and we always talk about the risks of any particular trade before we put that trade on and then we manage the winners and the losers in this class so we manage this portfolio on an ongoing basis we level set it which brought a tear to our eye because we had some trades that you know some stocks that had done phenomenally last year and we hated to just wipe all that out but you know over the course of last year this this class was up i think between 45 and 50 percent now this year totally different year who knows you know what will happen with that but um anyway rolling along through our information we use lots of symbols in this class we we place a lot of trades in our 45 minutes a week but that isn't to be construed as a recommendation on the part of td ameritrade or myself it's a great way though to really gain a better understanding of the of what we're doing the types of trades we're placing how to manage them and then how to do that using the thinkorswim platform which is the platform we'll be using today know that all investing involves risk including the risk of loss okay so what are we talking about today well we're talking about the market forecast and earth the barb i should have looked at that earlier before i was wading through dozens and dozens and dozens of setups looking for great opportunities for us today um and you'll see why in a minute we're gonna manage our current positions and then we're gonna look at adding some example uh trades to our current portfolio okay okay so that's what's up so first over to um our platform and you know when we look at the market forecast what is that well i'm going to actually just bring it up here so this was created by ken rose if you just go to studies there are other versions they don't look quite as sexy as this one so if you want this one if you go out to my twitter feed it's pinned to the top the script if you want to download it so the idea here is that we are looking at the green line and we have permission to take a bullish trade and this is on the spx so we're looking at the spx right if this green line which is the intermediate line is up trending or if it is anywhere above this 80 the 80 line anywhere above so i mean here from like middle of november right through until a couple of days ago we were good to go bullish bullish bullish and so this isn't on a by stock level this is spx okay this is just on the spx and why do we look at this on the spx well because if the spx is made up of 500 stocks 80 of the large caps in the united states large cap companies are represented in this index and so you know what we want to do is take advantage of what that is telling us directionally so and this is so what what are we seeing now it's like oops it's fallen below this 80 level and it's currently it's down trending isn't it and it's interesting because you know i first looked at this this morning and went okay well yes it's below the 10 day and i'm just going to come in a little more up close and personal it you know but yesterday you know we had a down day it was down 2.8 and the majority of stocks in the s p were down with it um and and then we had you know a recovery day but we're down again today and today we're closing below the 30-day moving average but the 30-day moving average really has been acting as a support level if we look at the last nine months you know it's come down a slightly below but then it's bounced and come back up again but here is something that was shared by another client of td ameritrade or or we used to call them students you know of which i was one so you know i have been actively looking at the market since about 2011. so this year's my 10th anniversary um and i joined the coaching team in 2016 but this guy said you know when he was exposed to this idea of only trade when the market forecast line gives you permission to trade bullishly like trade with the line right and so he said he mapped out all the bullish and bearish terms of the market forecast line on the spx for that period and compared his bullish and his bearish closed trades against the market forecast green line for consistency and what he found was that if he'd simply been using the market forecast as his market posture indicator and had not entered trades contrary to the market forecast direction he would have you know he's saying here i would have reduced my net losses over the period by 62.5 percent by doing and and he would have done 26.7 fewer trades so this man was an accountant i i love that you know he took his percentage of trades you know 26.7 i'm a rounder but you know i actually you can probably see tape at the top of this i don't know if you can see it like i thought this was so um powerful and this is survey of one this is one person's results when he went and back tested it um but you know i found this so powerful i thought there are times we can learn from another's um information right sometimes we have to make our own mistakes and trust me most of them i've made several times just to make sure they didn't work but i thought in this instance maybe i could adopt this and maybe it could help me be a more successful trader um and and so you can do with this information what you want like i said this you know was not a double-blind study with thousands of people this was one person's observation but i wanted to share it with you and why we have chosen to integrate this into this class because this is just another one of the ways we are trying to stack the deck in our favor does that make sense okay and um thank you to mike for posting the twitter handle so if you are listening to this in the archives my twitter handle is at b armstrong underscore tda mike fairborne's at am fairborn f-a-i-r-b-o-u-r-n underscore tda and both of us are posting you know news you can use on a daily basis okay okay okay great so i'm going to get off my little pedestal there so if we already have a bunch of bullish positions what might this mean well it might mean that we want to go and batten down the hatches so we're only three weeks into the trading year and last week we're feeling a little bit cocky because we were up about i don't know fifteen hundred dollars and you know we were only a couple of weeks into the year um and now you know we're at eight nineteen thousand eight hundred and fifty five so we've dropped a bit even today like if we look we're down 107 163 so we went from a portfolio here we're down 148 so we went down from being up you know a percent to down half a percent oh what a difference a day can make right but we're still early in the year so no reason to like pack up our trading tools and go home and pout um we're in it to win it and we're in it for the long term so what i want to do is start with our cash secured puts so we have three positions here and one is on a little stock called plug which was one of the ones that brought a tear to our eye because we had done two by rights on plug in december and i mean we were going to get our max gain on those um but so our deal in this class is that position size wise we don't want to take a position that is more than 25 percent of our account value so that means max position size of 5 000. now if you watch james boyd's class
uh any class that he teaches i mean he has one account that's half a million and the other one's a hundred and fifty thousand and he's saying max position size five percent to seven percent depending on your account size well when we have a twenty 000 account or or if you have an account that is smaller than that you know that may not be a possibility for you to to take something that's only a five percent position size so in this class and why do we make it 25 well so that we could either buy a hundred shares of something that we could then do covered calls and protective puts on we wanted to be able to use the buy right covered call strategy as a revenue generating strategy or a growth strategy in our account and um that actually worked out well for us last year who knows how it'll work this year but um with plug it it went up so quickly it kind of went out of our our snack bracket being you know if it's over 50 we can't buy and hold 100 shares so we could have bought less but we said hey there's some volatility in this stock so we put in one put being more aggressive and we bought it on the spot at 435 the other one we put in a conditional order and said if it goes up get us get it in if we end up with a trade above the high of the low day ahold entry so this is why one we were paid 374 because we waited for the more conservative entry and the other one we were paid 435 for now both of them same date of expiration so we have three weeks left to go when i looked at this a little earlier today we were just over 50 percent of our max gain on this and if we look at you know the spx saying you know you might want to batten down the hatches and i'm now going to come and change this study to what i call my basic study set and we are going to bring up uh plug so if we look at plug i mean it had a nice move to the upside right like when we first bought this one and you know last year when it was down here in the 30s so we said well if we sell a put at 50 that won't you know break our rule and we already have 50 of our max gain now when i looked at this an hour or so ago i mean this was another doji and now it's starting to pull back a bit more and so you know some times people will say well i'm still really bullish on this i wouldn't mind owning plug if you're not familiar with the company i encourage you to check out the analyze tab it's in the industrial sector which has been strong and they provide alternative energy so you know with biden coming in and this focus on renewable energy getting you know more support perhaps from this next administration um a lot of the renewable energy stocks have done quite well and plug is one of them and so you know but we have to decide do we want to take our 50 gain 400 and put it in our pocket or do we want to say you know what i'd be okay with owning this um at 50 dollars a share and i'm okay with waiting so i like to run a democratic class so i'd like you to type into the chat i i think it might be interesting for us to sell one take our profit and then you know we could keep the other one in the account or you know we can go ahead and just exit the position altogether so um the vote is out so feel free to type in in your plug um what you'd like to plug for plug and as i'm waiting for those to come in i'm going to come and look at the next one which is snap now with snap once again this is a stock where we sold the put at 50. we sold it for 3.60 it's now trading for 420. okay and so let's go look at snap now snap this is snapchat and you know when we talked about this this is where we got in we said you know well hey the deal do we think that social media platforms um and means of communication are continue to be going to continue to be robust and if we feel that you know maybe you know we want to um continue you know to ha to have a position in snap and might this continue to do well so when we look at this the recent support here is really around this 48 level and we sold this put at 50. and so we're seeing you know it it
hasn't quite come back to this 57 5739 yet but you know if it's consolidating and it starts trading in a range would we be okay with that okay okay so i'm going to go back wow this is awesome uh snap sentiment a phase affected by facebook earnings i think democracy wins sell one keep the money move on so that's cash out cash out keep once sell one keep one take the profits wait and see keep one keep in the account sell half okay so it looks like okay and i really love i gotta say for those of you who said you know take the money and run i i really love that because often this fomo thing this greed this like i want to get every last penny because the reality is when we go back to plug and i wrote it down we got into that two weeks ago so if in two weeks we have half the profit and last week actually i think we had half the profit we could have been in that trade for one week and if our account were closer to fully invested part of the reason we decided to let it ride was because you know we didn't need the funds so um we're going to sell one and keep one so we're going to sell the one that we have the bigger profit on put that in our pocket create a closing order to buy the one back which means we're up 234 on that and then the other one we're just going to keep because this is intended for us to learn from we're going to keep the other one um you know as an opportunity for us to learn okay so we're out of that one now with snap i just wanted to you know bring it to your attention but we're going to let snap ride okay and then the last one was neo now neo is another one that contributed heavily to our profit in the account last year because i think we bought it right here when it was around 2297 and then when it doubled in price we took that profit and put it in our pocket and then we started doing shorter term trades on it so again this was one kind of out of our snack bracket and we said hey if this comes back down to where we had this w pattern here to around the fifty dollar mark we would be okay with owning it and when we come in i look like i like to say up close and personal old resistance here's a case where it became new support and that support level uh you know is currently holding we have another support level here at the 30-day moving average here is our 50 put now volatility in the market in general has gone up it's kind of been a nutty week so that hasn't worked in our favor but the structure technically of where neo is sitting and again if you're not familiar with neo go out and google what their cars look like these are cars made in china for the chinese market and they are um oh sorry i want to go to risk fundamentals oh it's because i still have the vix up sorry i thought i had neo up there um they make electric vehicles and we've talked about that stock a lot in this class so i'm not going to um beat that one to death but get out and do your research on that and then another great place to go is to come over to okay i have to bring something up over here sorry um to come over to td ameritrade.com and when you come over to td ameritrade.com and type in the ticker symbol you can get just a raft of great information and and i really encourage you to do that because in this class it's not just about you know if we're doing a short-term swing trade wouldn't you like to know that you know this is highly rated by all the analysts and and that the fundamentals are sound because what's going to drive the price of a stock up now sometimes it's just sentiment um you know it like the market can do crazy things and we've seen some of that this week um but it behooves us to know the company behind that yes and you know there are other ev manufacturers in china as well but when you come and you look at peer comparison which is how i maybe found this in the first place what they bring up is tesla and currently manufactured in china only shipped it to china and um to chinese consumers they're looking to expand into europe later this year amazing things actually you know are happening in the auto industry um but yeah so you know do your due diligence look around okay and we don't take the time to do a lot of that if you want to see more of the under the cover stuff i encourage you to come to building blocks for a self-directed portfolio mike fairborne teaches a lot of great classes on values one on tuesdays he does another long-term investing class on friday mornings you know you might want to check that out as well okay so back to our review so we're going to leave neo um so that's those three and then don't worry the whole class is not going to be just um reviewing our current positions apps so we have a buy right covered call on apps now somebody asked me a question about this and and they didn't quite understand the strategy this is an intermediate level class um so i'm assuming you understand the strategy but the idea here is that we bought the stock sold the covered call at the same time and the goal is to get called out now when i looked at this actually i think earlier today it was just under sixty dollars and and last week it was above 60 so if we come and we look at the chart on apps um you know it went up and hit 70. and that's kind of like last week when i
said you know it's it's a little bittersweet when it goes up so much but if we're going to make um what we're going to make on that um you know and and there's no guarantee like maybe it'll stay below 60 and we won't be called out but if we are called out we still have seven dollars and fifty cents worth to go today it's trading at 57.72 but it's kind of doing its thing you know bouncing off a support level so we're going to let that one percolate and if it's below sixty dollars on expiration then we get to keep that three dollars and seventy cents which is almost two percent of our account value so nothing to shake a stick at and you know we bought the stock at 51. so like is anybody going to be tearing up if at on february 21st if the stock is sitting at 58. now we have got an exit put in here we have a stop loss because we're managing our risk um and we say hey if this breaks that support level then you know we'll we'll cut we'll cut out but you know we're up by 470 on that one so we're going to let that one percolate now this one has not gone according to plan now it seems to be coming up a bit because now we're at a profit and loss on the day of zero so we haven't lost anything it is friday so i know that the temptation might be like we have two days of theta decay and that could help us out but our when we look at this 138 136 it's at 134.72 and so one of the things that some people might say is okay it looks like it might be going up again so we could wait until monday and you know we could look at this theta decay one of the pieces of information you might want to know is how much does this stock tend to move on a daily basis so if we come to studies and loads um sorry we're going to edit studies and we're going to add average true range well what is average true range and this is over the last 14 days because we really want you know current news well on average this stock moves the range is about 3.27 of late so if we say okay it's at 134 could it possibly move call it 135 could it move six dollars up in the next week uh it could and then would we have a profitable trade we would but if it doesn't then we could take max loss and if we look at where we are on this now we're in a position to lose a hundred and fifty six dollars and you know that's 65 cents times two or a hundred and thirty dollars away from max from max uh loss and so there are times when to lock in a modest loss is a better decision than to lock in a big loss and what so what we're going to do is on monday i know that we aren't meeting but my homework is to go in and if this is up again we'll wait and and otherwise we'll close it out we're going to close that one out so on monday do or die so we'll give the weekend for theta decay and then on monday we're going to close that out yeah okay so that's nike and so i just i want to discuss this in the class because i don't want people to come back next friday and go well hey you exited on monday and we could put in an order to exit on monday but i want to take our remaining time to look at the setup for some new trades now bank of america was one that we teed up last week and what we said because this was this 22nd was um hey if this goes up because you know the financial sector has been very strong and we talked about you know which sectors were really strong and we met last friday so i'm going to put a little circle around that and what we did was we said well we're expecting you know this to bounce off support but what if it doesn't so we put in an order to say hey if this goes above today's high by 20 cents or whatever our number was get us in well did it go above it did not and what we said was well what we may want to do is if it pulls back further we may want to adjust it you have to show that you own it to sell the call on toss okay let me i'll get to that one in in a second um yeah so with bank of america that trade hasn't been filled so we have a couple of things we can do we can say yeah bank of america isn't looking so hot or we could just leave that order in there and say hey if this turns around and starts going up we'll only get in if it goes up above here so we're going to leave that one okay so we've reviewed most of these trades now i'd like to look at a couple of new setups because we've got 15 minutes left so the first one that i wanted to look at was w k h whoops workhorse so i've been out there kind of beating the bushes looking for stocks in sectors that are up trending and um looking for stocks that seem to be doing well and this was one of them and and sorry let me just take a second i'm going to go and look at questions there was a question about when you sell a call i'm just toss insists that you own the stock it doesn't but if you know you may not have approval in your account to sell a naked call and selling a call when you don't own the stock gives you unlimited risk to the upside which is what there's an article i just reposted on twitter about short squeezes because like if you sell a call at 40 and the stock goes up to 60 and you don't own the stock you have to go out and buy the stock at 60 and then sell it at 40 and that is some kind of painful we will never a short sell a stock in this class we can't afford the risk it doesn't meet our risk parameters and we will never sell a naked call either um the order on bank of america is to buy the stock so if we come here to our orders and we see we have a pending order it is to buy a hundred shares of the stock at the market and right now it's trading at 29.88 and
what's the condition it has to go above 31.79 and so some people might say well why wouldn't i want to buy it now when it's cheaper well it hasn't given us an indication that if i go back to bank of america that it's done falling yet so why would i want to buy it at 29.88 if if i don't have an entry that indicates it's bullish makes sense okay so uh workhorse there are a number of stocks that if you go to our website that are now classified as restricted i am not discussing those stocks in this class that's not the kind of trading that we're going to do yeah so we can do long synthetics in this class um you know so somebody's uh there's a question in the chat saying is there a reason to use a conditional order and not a buy limit i just find a buy a conditional order to say i only want to buy if this easier to understand um but you can do a buy a buy stop too yeah did that work it does accomplishes exactly the same thing so and ed is saying well if it's making new lows shouldn't we be basing it on something a close above the high of the low day but in this case on bank of america a close above the high of the low day is still below the 30-day moving average and something that was old support can become new resistance and so what i what you know what some traders would want to see is that it goes above that 30-day moving average and then comes back and re-tests so they might even not be just waiting for it to close above the 30-day but to get maybe a little bit above and then come back and retest so what we were saying is like hey if this comes back above here then it's sufficiently above that 30-day moving average and so you know for that reason we're just going to leave this one okay okay so on to workhorse wkhs so here we have something that has been setting up a pennant pattern since you know what last september you know in a pattern characterized of course by you know lower highs higher lows and then it's broken out to the upside now if this is not a company you were familiar with um let me briefly acquaint you it's in the consumer discretionary sector so over the last 12 months what has been one of the strongest sectors consumer discretionary over the last six months what's been one of the strongest sectors consumer discretionary how about over the last yes consumer discretionary like mind-blowing in fact over the last year the consumer discretionary sector is up between 140 and 150 how's that for kind of mind-blowing right if you come to the market monitor tab and we look at time frame and go out to last 12 months consumer discretionary up 135 technology up 42. so consumer discretionary has been pretty strong to say the least um and so has technology and then materials and i mean that's one of the reasons that we added that one of the stocks that we did to our portfolio because materials has been strong so if we go to w k h s and again we're not going to belabor this but i'd encourage you to come down to this smart score click on the link do some do your due diligence you know but um yeah check it out and then if you want to know what the company is about which behooves us it's a technology company they provide solutions to commercial transportation sector they build high performance electric vehicles and aircraft well and didn't the government just announce that they are going to make all of their federal vehicles evs and you know what does this company do they build high performance electric vehicles and aircraft so might they this be you know a strong thing for them okay so we're going to look at this and and i'm going to put a note because we're going to add a position on this um in fact i thought we'd do two different positions but with workhorse we're just going to flat out by a hundred shares because we can buy a position up to um 5 000 and we're going to put a stop on it now where might we want to put an exit well we might say hey if it goes three percent below yesterday's low maybe it's not heading in the right direction if we want to give it more room to breathe we might say three percent below this line which you know so if it goes back you know this old resistance should become new support so if we wanted to give it a little more room and this is very much a personal decision so that's at 27.63 actually we couldn't do that because that's too much it would be taking too much risk so if we come down here to our low here 29 52 we'd go three percent below that so 29 52 times 0.97 28 63 now you know so that's a little above our range of risk that we want to take um and so you one would have to decide if you're willing to you know bend your rules a little on that um or others might make a tighter stop but if you make a tighter stop and you know it doesn't go your your way then you know sometimes you get nicked out and by the end of the day like look at this one you know candle here how far it came down and by the end of the day it was back up that just kind of frosts your petunias doesn't it like that drives me crazy so i'm not a fan of tight stops what i would want to do is say here around this 32 mark i'd want to set an alert so that i know if it starts heading back in a direction that i don't want to see it going so i'm going to come down here we're going to create an alert and say hey if this goes at or below 32 dollars i want to know we're still going to put in a stop why are we going to do that heads up heading in the wrong direction or just a wick messing with us you can put whatever you want in there it's a message to yourself and and mike and i were talking about this in a class earlier this morning he has his texted to him i have mine go both to text and my email um okay and then we're gonna come in here to the trade tab we're gonna right click we are going to buy custom with a stop so why are we putting the stop in it's to prevent us from starting to smoke the hopium what i call it you know when a stock starts going down and you think it's a great stock a great company and a great industry and it's going to come back and you start making decisions based on hope well i'm hoping it's going to turn around it's a great company great cheer it on from the sidelines and get ready to get back in when it turns around right um don't you know if we put this stop in it prevents us from starting to trade on hope and fear and one of the common mistakes that some retail traders make is that they cash out on their winners too soon and hold on to their losers too long small losses can be a beautiful thing because they beat the stuffing out of a large loss and i have sometimes you know i i've made i have smoked the hopium my friends i have made the mistakes um and so i speak from experience um you don't want to do that okay so we're going to put this one in our trend trading growth stock now what if you decided that you would like to sell a put instead as a way of acquiring the stock or as a way of generating some additional revenue so we could come in here and say okay well you know could we come in here's our 32 level could we come in around that 32 level do we think it's going to come back to 32 maybe we don't or maybe could we even come you know down here to 30 which is close to the bottom of this wick and would there be any premium there well they at 30 dollars and 50 cents we don't have much on the 50 let's go to 12.
15 strikes how about we go to so at 30 they like you know we're the we the only ones with this idea today i don't think so over 3 200 contracts traded today and they'll pay us like almost 10 287 to 299. and yes so somebody asked you know was this a swing trade no this is a trend trade so we are going to sell a single and i'm just trying to give you different ideas on how you can do a revenue generating trade in this account so the most we can make on this is 2.87 cents if it pulls back we could end up owning another 100 shares of the stock at 30 but if the stock goes on a terror like plug did and like blank did and like neo did you know we'd get to keep the three hundred dollars but if the stock goes up ten dollars a share we would have been better to have owned the stock if the stock goes a whole lot of nowhere we've owned a stock that went a whole lot of nowhere but here we've made our 300 so you know there's a yen and a yang right so we're going to go ahead and put that one in and we're going to put that one in our put okay and we have two minutes left and there were three other stocks i wanted to talk about today and we're not going to get to place trades on them but i encourage you to add these to your watch list and then think about if i were to place a trade how might i do that so one was oh and i meant to put a comment in the notes to say these are bullish trades and we are placing these bullish trades against the advice of the market forecast line yeah so here's rent-a-center and you know you'll notice i've been looking for stocks in that under 50 kind of price range and you know when we look at this you know it's moved nicely to the upside pulled back so kind of a classic many would say bull flag type pattern and you know bouncing today right not a close above the high of the low day but it did trade above um the high of the low day so you know this is one that you may just want to do a you know add a position and if you have a smaller account you don't have to buy 100 shares of something when we look at the options on this the options are not tradable because the bid ask spreads you could drive a tank or truck through so that one would have to be a long stock position another one and if you come to the td ameritrade page and you look at gm they have made a commitment by i think it's 2035 to eliminate all um gas-powered engines like pretty amazing and gm i believe has been doing a lot of work in china um i used to live in metro detroit um i grew up my dad always drove an oldsmobile which is a gm product but again classic bull flag pattern moving to the upside so you know i was thinking this is another one where we could do that double example sell the put and you could buy 100 shares of now at 51.08 we can't really buy 100 shares of the stock can we because it's
above our 50 but we could sell a put and say hey if this went below 48. we'd be willing to pay 48 dollars a share and if we look at it if it didn't go below 46 well or 46 31 we'd actually be ahead of the game so you know what we're going to do that as our last trade of the day we've got a 6 32 chance of owning the stock you know a 68 chance that we just get to keep the 180 bucks and not end up owning it and this is a trade we're going to be in for how long three weeks now would we could we go out further absolutely great question so if we came out to you know 49 days out to the march we'd get three dollars instead of closer to two and you know have we got lots of volume on that we do but the time decay is going to be a lot slower now you might say it may be slower but you know i get paid more and if the stock really moves yeah then you know away we go anyway we're gonna put this one in single so we're selling a put which means we're agreeing to buy the stock we're saying hey you want us to buy gm at 48 bucks share i'm in if not thanks for the buck 79 and and i am going to put a note in here no this is against the market forecast guideline we'll call it a guideline okay so we'll just see how that pans out okay guys so we are done for today um i hope that you have found this helpful i love getting together with you it's a great way i think for us to head into the weekend i applaud each and every one of you for you know doing what it takes to take control of your own financial future to continue to hone your skills i do believe that there was a survey posted in the chat earlier i'm just kind of scrolling up to have a look for it um mike if you see that if you could repost it yeah it's right up here um and so here's the deal cause many of you responded the last time we had a survey i want to thank you for that i do read each and every comment and if there's something that you loved um let me know that if there's something you'd like to see more of or if there's something you'd like to see done differently let me know that so if i could ask you a personal favor if you can fill out would fill out the survey for me i will read each and every comment and i will implement your suggestions in upcoming classes because the reason for the you know you're the reason for the season right you're the reason that we do this yeah so thank you so much guys i hope you have an awesome weekend i think we did what we said we were going to do oh let me just bring up my powerpoint to wrap things up we covered the market forecast i read you that little story you know survey of one but i found it fascinating and i've never forgotten it um still have it taped to my desk um we managed our current positions both the winners and the losers we added some positions to our portfolio keep in mind these are examples my friends not recommendations um you know whatever you do in your live account is on you but i hope this helps you better navigate the platform and better understand these strategies if these are new strategies for you um i will post a link to both the buy rights and a short put vertical and a if i've got a short put class i'll post that as well so i'll post some links to the introductory levels on those for you have an awesome weekend stay safe every everyone many thanks to mr fairborne for joining us in the chat today he always does an awesome job and i appreciate it and i will look forward to seeing all of you in a webcast coming up soon take care and god bless you