Brian Shannon Trader TV Live 9/8/26

here in a couple moments. But yeah, welcome to the show. Thanks back. And it's obviously great to have Neil back as well after a camping long weekend. Uh Brian, okay, a few quick questions here. We talked about this with you last week. Um and it's SpaceX and I want to bring it up again. You're probably tired of it all the time, SpaceX, but I'm going to call it up anyways. We always get questions about where are we dropping. We actually got a super chat this morning about anchor VWOP and I said, "Let me ask Brian when he shoots us a message here when he's on today. We always talk about anchoring things to the very open price." I was debating um also potentially dropping an anchor near its all-time lows because right now it looks like SpaceX is on one. We definitely bounced off that 150. Today's maybe a confirmation up to 155. We're now if we can close above it might be one of the first days that we've closed above 150 in a while there. I know this day sort of that second candle right there maybe. But now SpaceX continues to go higher. Can you give us a little look on SpaceX right here and if people are looking to buy it where where might there be some support if there's a pullback pullback on SBCX? Yeah, always, you know, the first print like you said, so from the IPO and that is this orange line right here. You can see the the last couple tests of it, we were rejected perfectly right on that. This time it made it up through it, spent the day going sideways. Today it pulled back right to that rising 5day moving average and we continue to show higher highs and higher lows on that 30-inut time frame. So when I look at this Sean, I was kind of thinking that maybe we're going to see a break of this level and then come back down. But, you know, the the the thing is here, it looks pretty bullish because, you know, we're we're also above the anchor from the all-time high, which they're going to be very close to each other because they were only two days, three days apart. Um, but when you when you look at this one, it it really actually has the potential um for a measured move to the upside. So, from down here at the bottom at about 105 up to 145, let's call it, that'd be 40 points. And add that to this level right here of 130, you might see the stock up near 170 on this leg higher. So, I I think you have to look at it in terms of innocent till proven guilty. This morning's low is going to be important to manage risk against and then you know if we see another pullback and then you're going to want to know raise your stop up underneath the next higher low and see what the market gives it. But it it looks uh pretty bullish. Nvidia right now is printing money. We've got that coming through right now. There goes Nvidia all the way downside. We shorted the top and apparently we're hearing right now Brian um explosions here on Car Island. That's something that if we're watching out for USO and I think um I know you deal I know you created a prop before in our world but you can see here that that has definitely created an upside spike right now in USO. So, thanks for uh those SpaceX. I think yeah, buying dips into those levels. Definitely a good call there on SPCX, but we just ran out of Nvidia there pretty aggressively. Some good takes on the downside for Nvidia, but right now, USO crawling a little bit to the upside and now pulling right back in. This sort of style of trading, Brian. I know it's for us, maybe for some of our viewers, but you don't trade intraday noise uh like this. Correct. >> I I try not to. I mean, if I, you know, get lucky on it, then I'll cover quickly into it and accept it as a gift um and and maybe hold on to some, but uh generally, no. Oh, I'm not a news trader. I I you I just have never been very good at it. >> Yeah, we actually talked about that getting lucky on trades and sometimes it's like bank error in your favor. You know, you happen to short the top of something and then it completely collapses. Sometimes it's not the exact plan, but you got to take advantage of when that does happen. Do you like oil? Um I know again I'm just asking you sort of chalky questions here uh that everyone wants to know about. I think it continues to work. I mean oil right now it's not necessarily breaking out unless you call this I'm talking about USO here maybe. Brian breaking through this 140 level. Definitely a triple top. you have any stats on triple tops or you like this kind of a breakout right there as we head into um you know basically seasonality highs from this war of 155. What do you think about USO here? >> I mean you know we we had that sharp pullback and since then we've had a nice pattern of higher highs and higher lows. So I I personally don't like to trade oil especially if I'm going to do it via USO simply because of these gaps that occur every single day because it's a near 24-hour market. Um and it's it's hard to manage risk on that from a swing trade perspective. Uh but you know again what I just said like I'm not very good at [clears throat] excuse me trading news uh type movements and oil is too tied to news right now. I mean explosions on carb oil and then you know tomorrow Trump will say the war is over. We accomplished everything we did and the straight is open and oil's flowing and then it drops $8 a barrel. So I just that that's just too chaotic for me personally. >> Okay. So I and I understand I'm completely with you on that. You want things that make sense, have good structure. So let's call it like break or fake. M micron's move now or maybe we just talk maybe we just talk specifically about micron or if you want to if there's something in the memory space or DRAM that you think is a little bit better but we've just broken away from the 50 on the daily. We've taken out that 1000 level. It's it's weird because we gapped up from actually red today pulling back in. But is this a fake move? Is this an actual breakout back into the highs? What's your what are your thoughts here? >> I think it's a breakout that could be sustained. And when we look at the daily chart, the the main reason for that is that we've corrected first price-wise by about 30% or so. And then over the last month and a half, we've gone sideways and corrected through time. Now, we have this move right here, it's a little bit extended the last 3 days. And that's actually a good thing because if we start to pull back a little bit as we are, well, where we were 50 days ago, I I'm always talking about not only are we above the 50-day moving average, and that's that dash blue line, but what's the direction of that 50? You can see it's sloping lower and it will continue to slope lower for at least the next uh through the rest of the week right here. So these were so this was 50 days ago. So tomorrow this drops off and it averages it with data over here. So in other words that 50-day moving average will continue to decline for about 3 or 4 days and when then it will start to to flatten out and rise. If we see in the next 3 to 4 days that this market maybe does an in let's say an inside day tomorrow, pulls back a day, pulls back another day and then we're down near this 5day moving average in a couple days, I think that carves out a higher low and from there we break above this level and go on to all-time highs or it just completely fails. But we're at a pretty critical juncture because we've got the rising 20 above what will be a rising 50 in a few days and above a rising 200 day moving average. That tells me that the correction is over. the buyers have the opportunity to really take control and meet it this time. It it wasn't significant over here because we still had that declining 50. >> Yeah. And that's one of those things that you've definitely had us looking at a lot more which I which I do like. So maybe this is too obvious then one of the stocks that's up the most percentage-wise today but obviously has a very good look very different looking daily chart core week. It's up 13% today. In this case it's above the 200 period moving average which is usually a good thing. um you still have the declining 50 as you say and even just I always find like if I can eyeball it and it looks like there's still a short-term trend to the downside it doesn't look as good but if I squint hard enough these lower highs are under threat from the last few months so is there a breakout here in Coreweave this is a name that gets a lot of chatter for being explosive when it does want to go >> it does and you know it's it's it's similar to um Cberus CBRS um that they both get a lot of attention I look at this chart and honestly ly Neil, I just see a mess. I I I mean, when we look at these moves, if you're involved for a few days, that's great if you can catch these moves, but realistically, these rallies just get hit really hard. I mean, it's a it's easy to get excited about it when they're up, you know, 13% like they are today, but if you're not taking some off into strength and raising your stops, you have a very large probability of giving back those gains quickly in this name. That's just the personality of this stock. And it has been, you know, pretty much since the beginning of besides that initial runoff, the IPO, it's just been a really swirly stock. So, it's it's one for, I think, you know, quick moves, maybe two to five days at the most, and you've got to be selling some into strength and like I said, raising those stops up, not you know, if you're if you enter down here and you have your stop at break even, you'll probably get hit. It's that type of stock. >> Yeah. And and again, just to read everyone that's watching here, blast her near Southern Jack Coast, you're still seeing USO fly a little bit higher. the market's pull. It's bouncing a little bit from where we were, but we're still seeing some weakness come into the markets. I'm going to throw a curveball at you Brian because I know you can always handle it. Unlike, >> you know, unlike Pedro Serrano from Major League, you can actually hit the curve without the help of Joe Buu. >> I want to ask you specifically about PayPal. Now, PayPal very recently, just go back to July, you had an unsolicited deal offer. Like, that would be an interesting place to put an anchored VWOP, let's just say. And then you also had the denial that this well the pulling of said offer caused the stock to drop into the 200 period uh SMA as it's dipping again down three and a half% here. Is there anything that would make you like the 200 period sitting there recent bottom at 50 50 bucks but is there anything on the anchor that tells you there could be a support left uh for PayPal? Because oftent times you're like oh it went up because of deal speculation the deal is gone. What possible reason could there be to be bullish? Is there anything left specifically for PayPal? And if you had to if you if you were anchoring putting an anchor VWAP because of say a deal rumor, would that matter after as much after the fact when there's no longer the the potential for that deal or is it still just an important level to you? >> Well, okay, let's take it one at a time. Is this where the deal was mentioned right here in July? Is that what we said? >> Yeah, just mid July. >> So So that was that gap up and the buyers had control and then it gapped down. It rallied perfectly to that. So the average participant from that gap higher during this time was basically had their opportunity to get out break even and it looks like that's what they did. So now we have that as a source of supply and you know a lower high guilty till proveness until it gets back above that. We've got a declining 50 a rising I'm sorry declining 20 rising 50 declining 200. Um so initially it just look I look at and say it's it's you know kind of similar to uh core wheat just kind of a mess. But if you look at the anchor off the June low, we saw that that initial pullback found buyers right there. So that becomes the level again along with, as you mentioned, the 200 day moving average. So in this, you know, 50 to 52 range. If that fails to hold, then you're likely to see it come down to the anchor either off of that February gap down or the year-to- date anchor, uh, which are both in this little zone right here, 47 to 48. So, I would say you want to let this one settle down before you really kind of start to think about getting aggressive in it because if it's, you know, truly broken, then maybe it does this and then comes down to that level and then you're going to, you know, need more time to correct it. Um, not just this week and a half of um turning sideways since and it's back below that, you know, flat to declining 5day moving average, which is is never helpful. >> No, it doesn't look that good at all. That's why we love having you on is you get some perspective. That's the name I was looking at. It's like maybe there could be something residual left underneath, but there is that year anchor which could be in plan. Remember, if somebody wanted to buy them before they would announce that we want to take over, they would probably be accumulating some stock and that could have been some of the help for that anchor uh throughout the year. Is there anything on your radar? We always sort of pepper you with questions of what the viewers and we're interested in as we head into power hour. Is there anything on your radar for the holiday shorten week or maybe going into Fed next week that you think is a mover, maybe a sector we haven't covered, just something that piques your interest? >> The um you know, the genomic stocks are still of interest to me. you have ARCG if you don't want to take the individual stock risk and that is probably the best way to do it because individually these stocks can be a little bit crazy. Um and and ARCG is starting to see that we've got that 5day moving average flattened out after this pullback. So that is also down to the anchor from the LEO low. So I'm keeping an eye on this one. I did buy a little bit of TEM today because that one seems to be holding up the best. It's had this prior resistance which is holding as support. It's got the rising 20-day moving average in there. Was up on big volume consolidating on light volume. 28% of the stock is short uh you know the float is short. Pelosi owns you know 5% of her portfolio into this name. So I own a little bit and only a little because it's kind of squirly. If it can kind of tighten up and the group gets some strength in here in particular MRNA which you know lit the group on fire. It's still having trouble accepting it's it's it's still accepting I should say not having trouble but it's still accepting these higher prices up in here and just kind of you know the good news is the range is tightening and maybe that means it's ready for a move soon. this is likely the you know the the axe to for this group that it once it gets going but I just like the way TDM holds up the best so far. Um and I like I said I've got a small starter piece and it there's some other names in there that um you know don't give as good a look. You know CRSP for instance this one gapped lower today and that's why again when we have that declining fiveday moving average you don't want to take chances on it. Um and especially on these opens where they you know sucker people in. That's such a good point about the opens where they sucker you in and uh oftentimes we see that trap they try to get you in at the open but the a the after not the aftermarket but the afternoon and the close always more important price action. Great call out on that MRNA being the axe because that it feels like a powder cake ready to go that stock. >> It is hope hopefully it does it soon makes up its mind. >> I like I mean I like the madna I mean madna has really started that off and you're 100% right about that. Maybe the IBB biotech ETF. You mentioned ARKG there if you want to give your money to Kathy Wood Ryan. Uh but >> that's my that's my moral dilemma. That's what I'm saying, right? I mean, oh look, you're trying to call in right now uh right there. But yeah, good call out there. Thanks, Brian, for everything. Uh where where can they find you and are you up to anything these days? >> No, just uh nothing special going on here. It's uh you know, back to work after a nice summer. >> Yeah, you deserve as much vacation as possible as well over the summer. So, we're glad you had a good one. Now, let's get that nose and back to grinding here with the stock market. You can join us and Brian every single Tuesday uh right here live at Trader TV Live. Go find him at Alpha Trends as well. His handles are right below. Brian, thank you so much. Always such a great uh speaker on our show and people are calling you the goat, whatever that means. So, there's Brian Shannon again uh with such a great mind for stock trading. So, thank you, Brian. Take care and we'll see you next. >> Thank you, guys. Thanks, everyone. Chiao.