Like the slide out, we're going to get going. Anybody comes in late? They come in late. This is the first time you're hearing me. OK, good. Very good. OK, can you see the slide? It's a beautiful picture of New York at night. Actually, this is my old view. I need to update my New York pictures with my new view, which I'm looking at right now, which is Central Park. This is my old view in Midtown. Beautiful night view here. So welcome, everyone. My name is Melissa Armo, and I own the Stock Swoosh. And today, we're going to talk about making money fast. We're going to talk about trading fast. In and out quickly. I trade on a one-minute chart. Now, for those of you who've been following me for a while, I also do options. So you say, OK, well, if you do options, can you do options fast too? You can. You can do options fast too. However, I prefer to do both, OK, day trades and options. And when I say day trade, I mean an equity trade on margin, sometimes I am in and out of the options fast. Sometimes I hold them.  And again, I see some new faces here. I see some old faces here. If you have questions, you can plop it in the room. I usually do these webinars or lectures at least the week of the class. So I teach a class once a month on my method. The class for April is this coming weekend. So I'm doing this lecture today to go over some trades, to talk about the philosophy, just do a talk here. And if you're interested, you can email me afterwards and ask me if you're interested in the class. Again, some of the people that I recognize here that I've seen around before. Some of you have been following me for a very, very long time. I started the Soxwush in 2013. Hard to believe it was 10 years ago. 10 years I've had the business. So it's very, very interesting because, or 2012, I should say, I started the business. So it's 10 years going on 11. It's very interesting because when I first started trading, I did not ever have any intention of starting a business. I decided to trade myself because I wanted to switch careers because I was doing mortgages. And the mortgage industry was starting to collapse. That was in 2007, 2008. And then I came upon day trading. But it's funny now. We're in a period now where there's probably a lot of people in the mortgage industry this year, 2023. Again, I've been out a long time that are probably wishing they had a different job, wishing they were doing something else, realtors even too. Because the housing market is changing. And there's talk that we're going to go into recession. Well, obviously interest rates have gone up and banks are tidying up lending.  So sometimes you do something for a living and then all of a sudden the industry changes. And it's absolutely nothing to do with you. Absolutely nothing whatsoever at all. And things just change. We saw that with COVID. There were a lot of businesses that went under. Actually businesses are still going under. And I think even today, as a result, sort of of the aftermath of COVID, Bed Bath and Beyond declared bankruptcy over the weekend. It was sad, really, really sad. There was a store near me that closed recently. And they were trying to close stores to salvage chapter 11 and they couldn't do it. And they ended up declaring bankruptcy anyway. So that's an aftermath of COVID and all the things that have happened in the last three years. So the only thing that you can rely on 100% is what? Yourself. Yourself.  Cause again, you could be at a job, you could be perfectly happy, you could love what you do today. And then all of a sudden you get up tomorrow and bing, bam, boom, it's gone. It's over. Everything that you work for and is nothing to do with you. But once you work for yourself, which is exactly what I do, I rely on myself. If the gaps are there, I can find it. I believe that I can. I use my brain every day to find the right pick. We did Tesla today and worked. I rely on myself to do it. So no one is in control of me. I can't force the trades to be there in the market. But if it's there, I can see it. And there's enough trades on any given week, on any given month, on any given year for me to make money in doing this. So part of the one of the things that's interesting about this market, the market that we're in right now in 2023 is since January one, since January first, the market has been in just such a range. I personally didn't think that the market was bullish in January. Everybody else thought it was, I didn't. But the bottom line is January, February, March, April, we've got one more week left of this month. And this market is in just such a tight range. So if you're not making money quick and getting in and out fast, you're probably losing. It's one of those types of market that you gotta know what you're doing. But I've said this before and I'll say it again. You really should know what you're doing in any market, any market whatsoever at all. Because if you know what you're doing, again, you don't have to worry about all these other things. You don't have to worry about interest rates, this thing, that thing. Anyways, let's get into it. So if you have questions, you can email me when we're done at MelissaTheStalkswitch.com. You can follow me on Twitter, Facebook, YouTube, Skype. I do appear on national television and you can see me in my TV clips on YouTube. I was on Cheddar on Friday and I was talking about the market and how the market is in such a range. Do they have Fed meets next week? The market may wait until then to actually make a move and decide to do something because again, everything in this market is so much dependent on whatever the Fed is saying. I haven't hear the results here today. Actually, this doesn't include last week. It's just through the 14th. So far, we're on pace for the year. Let me just move this little chat box. 185-435 for the year. This is date trades, not options trades, equity trades in the room, which you need to take on margin if you don't know what margin is, ask me now. Ask me and I'll answer the question for those of you that don't know what margin is. You need a brokerage account to trade. You can trade with a retail account or a proper account and these are date trades. We're in and out quickly in these trades. Average risk on these trades was around $2,800 per trade. That means I take the trade, I put it in a stop and I'm calling the entry in the room and I'm calling the stop in the room and I'm calling the exit in the room. So if you were in the room this year, these are the trades you would have gotten. And again, I don't have this past weeks in, but I do. I'm telling you, we did the Tesla today. I will get caught up whenever I get caught up, which I don't know when that will be, but soon. Anyways, I always get this question too before we start talking about charts and gaps and everything fun. Can you make real money in the market? What do I mean by real money? I'm money to pay your bills. Money that you could do this for a living. Money that you could say, I'm gonna pay my mortgage and I'm gonna pay my car payment. I'm gonna buy groceries and I'm gonna pay my electricity and I can do this and I can actually make money doing this. The answer is yes, you can make money doing this. You can make real money, but you have to get serious about it. And again, since the 10 years going on 11, I've been teaching people since I've had the stocks-wished business. I've been trading for 15, teaching for 10 going on 11. Many people aren't serious about trading. They say they are, they act like they are, but they're really not. Why? Because at the end of the day, they really wanna get rich quick thing that's gonna work and you're gonna make all the money in a week that they've ever lost trading or paid for classes that they never learned from. That's not realistic. That's not gonna happen. That's a crapshoot. The Reddit trains that people made a lot of money on, those fly-by-nighters that came and went as more people lost in those that made money. And the few people that made explosive amount of money were the people that got in at the beginning of it started the whole trend. So that's really not realistic, okay? It's a once-in-a-lifetime thing that may happen or not, like where if you go to the Atlantic city and you place a bet and you win big, okay? You win the jackpot or something. Or you go and buy a lottery ticket and it's a big one.  That the odds are not in your favor that you are actually going to ever take a trade or find some get-rich-quick thing that you will recoup within a very short period of time all of the losses you've ever sustained from trading the market or classes you've paid that you've not made money in. That is not realistic. Once you move past that mentality and move forward, then you can say, okay, I'm going to start today. Today is the first day of my trading life. Today is day one. And then once you start with that and start looking at the future optimistically and with pride and joy and excitement and exhilaration, then you stop looking about the past. You stop thinking about the past and you get rid of this get-rich-quick thing. And you stop thinking about all the losses or everything you've ever had. Eric, are you ready to talk about it? You may, Mr., to come in late. We did test it today. We shorted it, it worked. But you need consistency and commitment to be successful. You can't be all over the place. Again, that's another thing I've noticed with people. They're all over the place doing many, many different things. But again, it's the same concept of looking for the get-rich-quick thing. There are billions, billions and billions and billions in the market. Therefore, it is possible, conceptually, when you think about it, for the small amount of money that you want to pull out every day, if it's $500, $200, $1,000, $3,000, all of that is small potatoes considering how much money flows to the market in any given day or any stock. And we always do stocks that have a lot of volume, just so you know, okay? But the key to day trading stock successfully is to train a system that is reliable and makes sense. Again, common sense rules the day when you're trying to be successful in anything that you want to do, okay? You want to be successful in anything.    It takes years and years and years, okay? It's commitment. And it's really you wanting to do it. You wanting to do it. You have the motivation to do it, okay? So success or failure really has a lot to do with the quality of your system. And many, many people that are trading really don't have a system, okay? So that is point one. You need a system and then it has to work and you have to follow it, okay? So what kind of system makes sense? A system that looks for who is in control. So this, the system that I teach is called the golden gap. It looks for gaps every day in the market. Gaps tell you where the big money is going to flow, okay? And it tells you where you're gonna get the consistent profit and the big move, okay? The main reason why traders are so in love with the place with the results is they lack consistency. You can not go long and short the stock in one day with conviction. A lot of people are doing that in the market right now. They're shorting the market, they're going long in the market, depending on where the market opens in the time of the day. But there's only ever one person in charge in any given stock and any given ETF ever. At any point, there's only one person in charge, period, and you have to go with the control. So for me, it's about finding the control, which I do where. I look at it in the gap. So the 26 point checklist, which I teach in my class, I rate it, if I get 20 points or more, I take the trade in the direction of the gap. I mostly focus on shorts. Why? Talking about speed, speed of execution, speed of the trades going for profitability. Tells us a good example of the day, went quick, boom, boom, boom, in and out. We were in and out fast. It's the idea of making money quickly and you get sell-offs. Panic comes into a stock way faster than it does in a long. Again, I don't know why this is except for the fact that people don't think when they're down in money and they think very, very hard about going long something, even though people do prefer to go long. But people get scared when something drops. People get very, very scared. Fox News Corp, if you looked at Fox stock today, tanked.  News came out today, their highest paid anchor, the highest rated show, they fired Tucker Carlson today. The stock tanked. I did not know that news was coming out, even though I pure in Fox News and by the time I looked at it and saw Fox, obviously you would have had to have insider information to know that was gonna happen today. By the time I saw it, the stock was already down, already tanked. So who is in control of Fox today?  Could have shorted it, okay? So again, it is about control. Who's in control? For me, I'm trying to get the fast trades very, very quickly in the morning. I'm looking for institutional money. Gaps are created with institutional money. That's what makes the gap of the first place. The professional gaps that happen and play out in stocks are formed by one thing and one thing only, large institutional money. Therefore, you need a way that will help you pick the correct direction to play the gap. Because again, many people do gaps, they do gap fills, they do all kinds of things. I don't do gap fills. I don't find that they consistently work. Sometimes they work, but not consistently. You need consistency to make money in the market. We just got done talking about playing something every day, okay? That means you've got to work more than it doesn't, all right? So I'm looking for a way to pick the correct direction and confirm that the large money will flow with it. By having a formula to rate and qualify the gap, you get confirmation and conviction that the large institutional money is on your side and you play it. Gaps are an event. They create a sense of urgency, okay? Thus an action is being forged by participants of the stock. This is why gap trading is incredibly powerful. And you can get big moves and therefore you don't have to hold a long time because you can get a big move fast in the first 30 minutes, in the first five, 10 minutes. And that's preferred, actually.  So my system, my niche, really, is that I'm following institutional money, large institutional money. It's something that I've been doing ever since I started trading gaps. Although when I started trading gaps, I did not have all the points that I have now. I developed it over the years, but it's really about predicting events beforehand and in the moment for profit. So I had a really nice call in Tessa last week where we actually did puts before it gap down. And that is one of the best ways to make money with me in options. When I happen to call something to predict the move before the gap occurs. So we did a trade on here and this day if I predicted Tessa was lower, we did puts. It gap down the next day, the trades were up. Then I predicted it was lower again and I was right about that too. And it gap down here and it was up a lot. So this was from here to here was $6, $7 through the point where it was in the gap and from here this day into the earnings day was about $20 some into the gap. Again, if you understand options, how do you make money in options? One, you gotta get the direction right. The sooner the bigger the move, the better. But the fact is you must get the direction right in an option to make money and you have to have momentum. Otherwise it doesn't pay for what you pay for it for the cost of the option for the move. So when I call a put and the stock gaps down or the market overnight into the gap, those are very, very profitable trades. And I do call trades like that and this was one of them. I predict events before they occur. It's something that I've been doing because I have good experience in chart reading. The other thing happens when you're in a call, if I happen to call a call and a bullish gap and we buy calls, okay, then you get a gap up where it gaps up through the strike in a call, in a long same concept, same idea where you're up in the morning in the gap and you're ready in it, okay? That is one of the big benefits of doing options besides the cost of options are super cheap compared to margin trades. It's the idea that you're capturing the overnight move and it goes in your direction overnight. Any questions about that while I'm talking here or options here in general while I'm talking? I do not do spreads. If you wanna make it up as you go along and do something that I call in a newsletter as a spread that's up to you, I'm really doing options the exact same way as I'm day trading, directional trades, buying the put and selling it, buying a call and selling it. Okay, anyways, here was 2022 results my assistant put in here for the whole year. So we're off to a great start this year actually into April at the numbers that we've hit. Last year was 650, 1079, same risk, 2800 a year but I took two weeks off because I moved last year.  Of course I could go on a vacation this year but I'm still unpacking in my new apartment. So if I take a vacation I'll probably finally get situated but the point of doing something that you're gonna do for a very, very, very long time is the commitment so that you can never get to the point where you're making this kind of money. Cause if you're jumping around from thing to thing to thing, how are you ever gonna get good? How are you ever gonna make this type of money? And where could you make this type of money at any type of job right now? Again, something that's a profession that you've been with experience for years that's all well and good but even those jobs don't come with any guarantees. When someone emails me and say, what's your guarantee? I always say to myself, well this person isn't meant to trade. They have no concept of what trading is like and they have no concept of actually what life is like. There's no guarantee in anything. Even if you had a contract, I bet there's words in a contract somewhere. I just got done talking about Fox News. Tucker Carlson had a contract. Now he's probably gonna get paid out of that contract actually even though they fired him but it'll never be on air at Fox again. But the fact is if you work for someone and you don't have a set contract or there's something in there that they could fire you and you couldn't get paid out the rest of the contract, there's no guarantee. There's no guarantee. There's no guarantees in anything. The person that is in charge of your success is you and you have to think, think when you take trades. And I think far too many people out there don't think before they take trades. Don't think before they take classes. Don't think before they make decisions in life. You know, they make a decision in taking a trade and risking money in a trade as much thought process as they put in crossing the street.  You need to think about what you're risking money in in a trade, okay? Any questions here so far? Now, let's talk a little bit about a short squeeze since you've been talking about shorts. What is a short squeeze? Could this happen in the market? It might, why? Because we've been trading in a very tight range. So a situation in which a heavily shorted stock or commodity moves sharply higher, forcing more short sellers to close out their short positions and adding to the upward pressure on the stock. A short squeeze implies that short sellers are being squeezed out of their short positions usually at a loss. So you could have this happen with the market, why? We've been in a tight range so that there could be a short squeeze in the queues or the spy in the market and it could move higher. I'm not predicting this is gonna happen. I'm just pointing this out, this could happen. A short squeeze is generally triggered by a positive development that suggests a stock may be embarking on a turnaround. Or again, it could be the market and I'm using the market as an example because it's in a tight range and we have the Fed out next week. This would create what? Buying a move, a short squeeze that would lift the market higher, okay? Although the turnaround in the stock's fortunes may only prove to be temporary, da da da da.  Eric, I knew Tesla was going down because of my rating system that I teach in the class. I don't look at anything flags or any other indicators or anything like that that you're asking me now. And my view in the queues is what I said earlier, the market's in a range. So when you're deciding what to do, you need to be with the proper alignment which is with big money, okay? So if you're on the fence and you have a question mark where the big money is, guess what you should do? Nothing, don't take the trade. So think about it, why would you go on something if you don't think that big money is with it to the upside? Why would you short something if you don't think big money is with it to the downside? The answer would be to do nothing and wait. Only take trades when it's clear, okay? That is the important thing as well because you have to take quality trades. So making good choices is a big part of success. It has to do with taking classes as well. I have people that have been following me for so long, they've taken other classes, maybe they've taken 10 classes, which is total of the cost of my class which is seven grand. They didn't learn anything from those classes, they didn't make money with those classes and they're still following me and wanna do my class and they wasted seven grand on 10 other classes that was not good choices. Trying to hope to find something that was cheaper that wouldn't work that it didn't. When you decide to take a trade, whether it's $200, $500, $5,000 on your risk, make a good choice, act like you're risking a million dollars on the trade, okay? You have to really think. This doesn't mean thinking so hard that you give yourself a headache. It means going through the process and doing the homework and doing the everything in the morning. So all my prep time, every single thing I do for my prep time is always in the morning before the market even opens. So I'm not under the pressure. I'm not under the guns, so to speak, where it's on the live day. I say I like this, this rates this, I'm gonna watch this if it sets up, I'm gonna do it. If it doesn't, I'm not doing anything. And so it takes the pressure off me because all the prep work I did in the morning. I do not have a trial for the newsletter for options, Eric, if that's what you're interested in. No trials for the newsletter. I have a trial for the trading room, but that's not options. We do day trades in the room. Day trades in the room, newsletter for the options, no trial for the options newsletter, only for the room. How do you find quality trades? I get up in the morning and I look for them and I use my system and I figure it out and that's what I do. So the system tells you how, what and when, how to make money in the market. I trade a strategy that's profitable for me as golden gaps. I'm focusing on what momentum? What stocks do I trade? Anything and anything, it could be an ETF, it could be an ADR, it could be any stock at all. As long as it has volume, I don't trade penny stocks. I rate the gap. I trade it in the direction of the gap where it's 20 points or more, boom. I try to do one thing a day, I might do two things a day. Some of the trades we're gonna go over here, there were days we did more than one, but I prefer to do one trade a day, one stock a day, one thing. Now, when do I trade them? Early in the morning on the open, when they set up a trigger, I'm trying to be in and out quick, in and out fast, in and out in five, 10 minutes, 30 minutes, quick as I can be. So this kind of trading is very lucrative, particularly if you're doing it on margin, because you can take several thousand shares of something whereas you could do an option and you can't afford to take several thousand shares of anything or it just doesn't have the move in it. Again, you must have a margin account with buying power in order to take 2,000 shares of Tesla or Apple or anything we would happen to do. But again, people should not be scared of margin. Everyone uses margin or buying power that trades and when you're in and out of the trade in five, 10 minutes, you're not holding it overnight. You're flat way before four o'clock, so nobody should be scared of margin. And there are prop accounts that you can open up with $5,000 or less that you can trade on margin too if you don't have the 25,000 for a retail account. So there's many options out there for people to trade, okay? But it's highly lucrative because of the percentage of turnover you can get on the money. And again, the whole idea is that it's something that you can duplicate over and over because there's gaps every day in the market.  So there could be another gap in Tesla tomorrow, there could be another gap in something else tomorrow. So I never know until I get up in the morning and see it, sometimes I look at stuff at night, but the reality is there's gaps every day, okay? Unless it's a holiday or something like that. So there's plenty of things to find to do to trade. It's not like you're gonna be trying to find something and can't find something and can't find something. You need to have a strategy that's there most of the time. And again, fast moves are the best. When you're in a market where somebody from the Fed, voting member, non-voting members come out and they say, oh, I think that we're gonna raise rates. I think we should lower rates. Inflation is this, it screws up your trains when people sometimes make statements like that. You know, if you've been trading, you've seen it. You're in a great trade, it's up all of a sudden money and then somebody says something and boop. It flips around, especially times when they have the FOMC minutes. And again, the rate is announcements next week. So if you're in and out before 10 o'clock, 10, 15, 10, 30, the latest, okay? You don't have to worry about any of that nonsense. You don't have to worry about any of that stuff. And again, why I like shorting is because you tend to get the big moves fast. So we're gonna go over one week of profits trading here. Day trading, these are trades on margin. If you risked approximately $2,800 a trade, we're gonna go over one week of trades. There were some losses. We will go over those two. And any questions, let me know. So from this particular week, it was $14,390 in profits. I already had, for those of you on the email list, I already had these trades in the email, but I didn't have the individual, I had the results. I didn't have the individual chart. So we're gonna go over them. So it was 410, 411, 412, 413, and 414. So on 414, there were two good gaps we did. Every other day it was one. Tesla was the winner on the 10th and then we had two losses in Zoom and Snow and we will go over those two. So let's look at Tesla first. So 410, here we go.  So what are we doing this? We shorted it. Entry was 179.60, boom. Got out 176.55. So again, this is a good move. So if you're risking 3,000, your goal is 3,000. If you can double that, it's perfect. It's beautiful, okay? So again, what your goal is to turn each trade over one amount of your risk. Whatever it is. So anyways, what happened here? Should I close your gap down? We got the drop, boom. Got in, got out, done. Again, fast trade, in and out. Quick, quick, quick. That's the name of the game, okay? If you've only had a $5,000 account and if you would have a prop account, you would have $50,000 in buying power and you could have figured out the maximum shares then that you could have taken in Tesla today based on a $50,000 in buying power. Yes, you could have taken a position in it, Eric. To how much leverage you would have gotten on using 10 to one, typical on a 50,000 BP sized account, you still could have taken a position in that, yes. So again, it has to do with how much cash you have on hand and your buying power. But I mean, if you only have $5,000 in the account anyways, even if you could have taken more Tesla for whatever the reason is, you wouldn't want it to size up, you don't want to risk any more than a certain percentage of your account, no matter what, whether it's 5,000, 10,000, 25,000, no one should be risking half their account or 25% of their account in one trade anyways, if that makes sense. So if I take a trade and I say 50 by 85 and the risk is 35 cents, it's 35 cents, a thousand shares would be $350, but you still have to be able to take a thousand shares of whatever it happens to be. Does that make sense? So anyways, this was a nice one here, okay? Yes, you could have bought the put. You could have bought the put if you wanted to. It depends what works well for you, Eric. That's the whole point. If your cash is XYZ and it's cheaper for you to buy an option in Tesla, pretend one contract would cost $600, you say, okay, fine, that I can do, you say to yourself, I have an options account, I have a cash account, I'm gonna buy one contract, I'm gonna buy one put, I'm gonna pay 600 bucks, that may be more feasible for you to do that if you want to. No, well, not with one contract, no. We're talking about a day trade here in Tesla. Either way, I'm not sure what you're trying to get out of here with your question, Eric. If you have $5,000 cash as an account, no way can you risk $3,000. That would be more than half your account. So it's neither here nor there. You cannot, it doesn't matter the cost of the option. I just used $600 as an example. You can't make 6,100 and you can't make risk 3,000 if your account size is $5,000, even if you found someone to give you the buying power to take 2,000 shares in Tesla with five grand. Like, that would make no sense for you to do. You have to be responsible for what trade you're taking based on your cash. You have a limitation. How do you think those banks went under, by the way, the banks went under?  They, some of that was mismanagement. Real serious mismanagement, okay? They were betting on interest rates going down at whatever point they were. They raised interest rates too high. First of all, this is very, very complicated. There was a lot of things going on, but one of the biggest things was the bonds that were invested in long-term bonds and people tried to pull their money out. It wasn't there. But the point is that everybody, even these banks that had so much money, they had poor risk management. So don't think, oh my God, it's, you know, I don't have enough money to trade. Yes, you do. Take the amount of money that you have and decide to be set a precedent for yourself and set a structure for yourself and do it.  So you don't want to be disciplined with five grand because you don't want to take a small risk. What makes you think you're going to be disciplined if you have a hundred grand? You're going to be all of a sudden be disciplined then if you have, you can take a bigger risk, no. The functionality of being disciplined and thinking about what you have applies to any amount that you have at all because everyone has X, Y, Z. Does that make sense? And again, the bank failures are really big, really great example, actually, of that. I'm not saying only risk 2% of your account depends how good you are. I don't want to set that parameters because if you have an account, for example, with $10,000, I'm scared the crap out of me, hold on. I had the TV on and it was on pluses. It just went off, I'm so sorry about that. I muted it. If you have an account with 10 grand, for example, I don't have a problem with you risking $500, so that would be 5%. So I didn't say 2% across the board of your account because of course you could have 250 grand in your account and you may not want to even risk 2%. So in some cases it's more, in some cases it's less. It depends on what you're doing, how you're doing the trade and how much you know. Okay, so we did snow, okay? Snow for 10, here. So we got stopped in the snow. I lost, lost the whole thing. Stopped at 141.16, stopped close to your gap down, we shorted it, it flipped and we lost in the snow. Zoom, okay, we did the zoom, we lost the zoom. This was again on the 10th here. Close to your gap down fell and we lost. So I lost 27.60 on that day in the zoom. So Tesla was a great trade, but we had two losers, this was April 10th. Then on April 11th we did Amazon. Really nice trade in Amazon. Again, dollar, in and out, boom. Day was 411, okay, it was here, take it up. Close to your gap down fell, we got in and out. This continued, it actually continued down. We had a good exit on this, fell the next day too. Again, this was a day trade on margin. We entered at 100, I mean, I was looking for a dollar, trying to hold it for a dollar, trying to hold it, hold it, close enough, okay? This was a fast one. Then on 412, we did AAL, okay? Nice gap here, close to your gap down fell off the planet. And it's kind of funny here because look where this went, it actually broke 13. So I exited this at 1339. I could have actually more than doubled my profit in this but I wanted to get out quick, I wanted to get out early in the morning, that's what I do every single day. I made $1,680 and look where it went. So again, sometimes you can hold things past where I want to hold them if you're in the room, sometimes people do. And then I have some people that get out before me but that was a really, really nice move and that was on the 12th. Then on the 13th we did infant. Beautiful gap. Stack closed here, round 17 and changed, gap down here in the morning at 15 something fell, boom. We shorted it, 1577, risk was 2970, exited. Again, this is a little rinky, dinky stop. So 30, 40 cents, 50 cents is a good move in this and we had a tight entry too. Profit was 2790, did it in, out, continued, could have even pulled more out of this but again, I look it in the morning, I find the gap, I take the trade, in and out, I'm done, that's it.  I've been leaving and going and taking walks in Central Park. Sometimes I'm doing a webinar like I'm doing with you now. You know, sometimes on one TV, you might have kids, you might want to go golfing, you might want to go to another job, you might want to go to bed if it's late at night where you are. You don't have to sit and trade all day for six and a half hours doing this. You really, really don't. It's the type of thing where it's the focus for you to get in and out fast and find the best thing that you could do. It's the precision and that's really what counts, okay? Then we did, on the 14th, we also did BA, but this was the next day, I'm sorry, closed your gap down, fell, dropped, in and out, quick, done. This was a really nice move. Again, we could have held this down longer too. You see where this went? It went down to 198, broke it. We could have made more than double the money on this. My target was 200. That was my target, we had a good entry. It was 202.35, I said 200, 200, 200. This actually went $2 plus through where we got out. 2880, but it was a nice trade and you have to book money. I traded the direction of the gap or I don't do it at all. So if I rate it, Eric, and it doesn't rate, say it rates 15 points, I'm not going to touch it with a 10-foot pole. I'm not going to flip it. I'm not going to go long it. I'm just not going to do it at all, okay? So again, one week of profits is you get in and you get out and you do it. And did we skip one day? I thought we did, oh, we didn't do see. I skipped the see here. We forgot the see, which was 414. Here, close here, gapped up. I do have one long in here. I thought we did two things on the Friday. This was Friday, see was earning, see was good. Again, I got out early. Again, it kept going, it almost got to 50. This was a long. We bought it at 48.40 and I got out at 48.75. That was that. But I was happy for some extra money and something because we did the other one too.  That's unusual, but with earning season, sometimes if I find something really, really good, I will do two things. So it was a great week. And it's a good time to trade because of earning season. Because earning season is when you have a lot of stops making a lot of moves. There's a lot of big things out tomorrow night. Why don't I hold for the half? Why don't I hold half for second day rally? Because if I'm doing something I want to hold it into the next day, I will do an option, Eric. So if I'm holding for a bigger move, I'll do an option. But that's my decision. If you want to hold something for longer than you can do that, that's on you. You can do that if you want to, okay? That's totally your decision. Now, why is my rating system, again, consistent? Because it's looking for power of money. And all you have to do is think about it and use common sense. You say, okay, I understand now. Power of money means they're in control of the buying and the selling. Power of money sets the trend, makes the trend, changes the trend. You say, okay, that makes sense. And then you say, okay, that makes sense. It makes perfect sense. What do you think about it? So if you're not training on the side of power of money in the market, you're gonna have a hard time seeing lasting and consistent success. And that is where many people, quite frankly, are at. And in this type of market, where the market's in such a tight range, it is very hard for people to figure out where is the power. But we're looking for selective things, like we did the test set. We're doing selective, selective, selective picks, okay? Like the ones we just talked about now, specific stocks. We're not worried about the market. I don't need the market. The market doesn't have to do anything for me right now if I'm doing C and I like C that I'm doing it regardless of the market. Institutional money is in charge of the market and stocks at all time and you can't forget that. You can't forget that. It's so important to remember that. And in this business, as a day trader, you just can't, you can't be taking a lot of losses. When you're taking losses, not only does it affect your account psychically, it affects you financially, psychically. It wears you down. It makes you feel worthless.  Just what you're doing doesn't work. Full stop. And once you come to terms with that and decide you're gonna do something different then you just do it. The longer you hold on to using strategy and things that don't work and then longer you continue to lose doing the same thing that isn't working, the worst position you're gonna be in financially and again, mentally, okay? Because you have to win more times and you lose. And that means you have to be right a lot. That's just what it is. You have to be right more than you are wrong. And that's why I developed the rating system so I could be right more than I could be long. And a lot of people say, oh, 26 points is so many things. No, it's not. If I could come up with 126 points, if that meant I had to get up at 4.30 in the morning to rate everything, then I would, then I would. But I really don't, you know, it takes me about an hour. It's not like I spend five hours rating stuff. I get up early, that's true. But usually by 7.38 o'clock I'm sitting at my desk and we start trading at 9.30. There are many things that happen overnight. Yes, but what's your point? What's your point, Douglas? What are the 26 points? That's what I teach in the class, Eric. That's what you pay me for, the information in my time. That's the class I teach once a month. The class is this weekend, April 29th and 30th. I charge seven grand for the class. That's where you'd learn it. It's 16 hours. And because many things happen overnight, Doug, that's why you have to know what you're doing if you take an overnight position. And that's why it's a lot that are off for you to take something in an option. Because you have the protection where you don't have a limited risk in an option, whereas if you're doing a swing trade, you do. So say, okay, fine. You say, I'm gonna risk $2,000 in an option. If you're wrong and you do the option and it moves against you upside down and it doesn't go in your favor, then you're not gonna lose any more than $2,000 even if it flips completely against you and it all goes bust. Whereas if you have a swing trade and it goes completely against you, you essentially have unlimited risk. If you're holding part of the day training position overnight and I don't do that. So that is something to you, but I would be looking to hold options if you wanna hold overnight because they have a fixed risk, okay? Yeah, well, that's the whole point of doing the overnights. But they can be very rewarding as we had last week with Tesla, okay? So that's why a lot of people love my options newsletter because some of the trades can be huge. One person held, I have the trade in here. We'll go over it, a big trade I called. I did not hold that one. The biggest one from last week was one that I actually didn't hold. Anyways, if you know what something will do before it doesn't, you can make a lot of money. And again, nobody knew what's gonna happen with Fox today. You don't have insider information. It's illegal. So what do you know? Well, all you know is what you see in the data, which is in the price action, which is in technical analysis, in the chart reading, which I'm reading every single day. Once you know how to do it, then the money becomes really just duplicated over and over and over. That's pretty much the groove that I'm in doing this for as long as I've been doing it. Again, 15 years I'm trading. So again, going back to the beginning, people lack commitment, lack consistency, jump around too much. I stick with one thing. I've been sticking with gaps this long. And since I've developed my own system, the 26 points, I've been sticking with that and nothing else. So it's a golden gap rating system that I teach in the class. You go through the checklist. Now I do this in the room. People that don't wanna be bothered, they come into the room, I call the trades, that's fine. But everyone in the room knows how to do it themselves and quite frankly should do it themselves. I don't send text alerts at all. I have an options email service which sends an email to you in live time. You must have your email and everybody has phones so you should be able to check your email for that. For the room, you gotta be there live. I don't have time to get texts out and talk at the same time. It's a lot to talk and trade and even run the room at the same time. So you have to be there for the day trains. Options are on the newsletters. But most of the options trades are sent out in the pre-market in the morning. So everybody knows and has them all organized and ready to do whatever we're doing before the open. You know. We're doing one thing, two things, 10, you know. But getting back to the 26 points, it measures gaps by rating them in the daily chart to find stocks to trade that have what? Number one, a high probability of directional bias for the entire day. That's very important. Number two, a big move on the day. Huge, we want two, three dollars. Bing, bam, boom. If it's something like AA or Infi or something, a little rinky dinker, I'll take 50 cents. Okay, you gotta know the stock you're trading. Gotta know how big it can go. Gotta know what it can do. An early confirmation of the bias in the move between 9.30 and 10. Again, I like to be in and out quick and precise entries with follow-through and a good risk to reward target potential because obviously we want to make money, okay? But it's correct trade selection.  I mean, it's no, like, again, the odds of people making money in the market are very often that in fact, people lose very much. But why? Because they just don't think about what they're doing. They just don't think about what they're doing. And I don't know why. I mean, you work very hard for the money that you have. You stick it in a trading account.  If you're trading with the sides and institutions, you're trading on the side of momentum. It's gonna be a lot easier for you to move.  You're not gonna move the stock. No one's gonna move the stock that's a person.  Professional traders are taking large size. So you and everybody in my training room couldn't even move the stock. We trade things with hundreds and hundreds of thousands of shares and millions of shares, okay? And it's like something, again, if you're getting it on the right side of it, and again, test is a good example, fax is a good example, you will have absolutely no problem whatsoever at all making money as long as you get on the right side of it. And I'm very aggressive with my entries. I just have good entries where I'm in and out of them usually pretty aggressively, usually pretty quick. Because I already have it set up and organized in my head in the morning that I know I wanna do this. And then I just wait for the setup whenever it happens. So the reigning system looks at the 26 points on the daily chart of a stock. The rating system is the checklist. The checklist tells you what to look for and the price of the stock to read direction correctly. Again, you can't make money if something falls if you're long. You can't make money going short if something's rallying. You gotta get the direction right. It's like one-on-one training, one-on-one making money training, one-on-one making money investing actually. But the points tell you where the money is flowing. So why does this matter? Again, direction, direction. You need to get the direction right. That's why looking at the gap is extremely important for me, okay? Any questions here so far? But getting back to what I was saying, what do you need to make money training? What do you need to make money to make it work? You gotta have a strategy. You have to have a system to follow with rules for the picks who have to have a strategy. I only trade gaps and then I only trade them that rate 20 points or more. And I follow my rules if there's nothing good that I don't trade. So that's very important. Then I have a method and structure to enter the picks. This was the test that we did today. We got in it and we got the drop and we got a good accident actually, but I could have held it down even more. Went all the way down almost to 158 even in the morning, I got in and out of this quick. Was happy, okay? But this I teach in the class too. You also have to have monetary goals. They should have to do with the size of your account. They have to be realistic. It has to do with chunking it out, not piggy targets. And again, it should be moving forward in a positive direction going forward, okay? And again for me, it's one thing. Whether I'm doing BA, whether I'm doing Tesla, occasionally I see two gaps that are so good. Like we saw the day that we did the scene with the BA that I'm absolutely absolutely in love with it. I say we have to do two things today. This is silly if we don't, but most of the times I'm doing one thing a day. And again, money management, the good thing about being in the room is I call it where to exit.  If you are someone that wants to do the options, you are managing the exits yourself. I do have targets in the newsletter. Some people hold the trains for 100%. Some people get out at 50%.   You can't be afraid to use a stop. A train can go against you five times the amount you wanted to as quick as you can speak or think or even press the button. You can have a mental stop. It's not good enough. It's got to be a hard stop. It's a limit order stop for me. Any questions here as I'm talking? So getting back to conviction, I'm very much like this.  Take it, get in, get out, stop. I call the trains fast. I'm doing them fast. Again, if you learn how to do it, you should be looking at the same thing too. So you have to do the class to get entry into the room. So you should be looking at the same thing too. And because I'm only looking at one thing at a time, it's really not hard to follow me. But the conviction for me comes from the reigning system.  And then you say, oh yeah, I know exactly what she's saying here. Now I totally get it. Now I get it. And then you say, yeah, now I can have the conviction to take it myself. I can risk two grand myself. I can risk three grand myself. I can see it. I can see that this is going to go here. And then you can take the trade and then you can do it yourself. Again, you learn everything that I know, but having me in the room as a mentor helps. It helps you learn the system. It helps you trade and make money after the class. Well, for example, Microsoft is out tomorrow night. I'm not predicting the gap in that. No, I have no idea what Microsoft earnings are gonna say. Microsoft is earnings out. It will gap on Tuesday night. Then it will gap. And then I will rate the gap on Wednesday morning. I have no idea if I'm gonna trade it. I don't know if the gap's gonna be good. I don't know if it's gonna be up or down. So I'm not doing any trades in Microsoft today or tomorrow. I don't even know if I'm gonna do one on Wednesday because I don't know if it's gonna be a good gap. I can tell you that it's going to gap, okay? As it usually does on earnings. But whether or not it's playable or rates 20 points or more, that I can't say, okay? I wait until the open. I don't trade the pre-market. I wait until trade on the open. But this system gives me an edge because I have the prep work in the morning. The 26 points give me an edge. Then I have an edge because I'm very good at shorting. A lot of people are not. And I also have an edge because I am inaggressively into my entries. Whether it's the options or whether it's the day trades I'm in ahead of time before the momentum happens. That's how I'm making the money. Then I can decide if I wanna hold it longer or I can decide if I wanna get out a half and hold half.  But again, many of these trades I showed you kept going even after I got out of the day trades, okay? But talking about what we were talking about earlier, so many people trade for years and they just like something happens to them mentally even though they're trading. They come to webinars, they're interested, they want to trade, but they really don't believe that they can make money doing it. They wanna do it, they wanna believe, but they really don't. Why? Because for umpteen years they're losing money in the market and they pay for classes and they're not successful. Be honest with yourself. If you really, if you're a mentality, if your mindset is that no one can be successful doing this, that it's impossible then just check out why waste your time and your money if that's really your belief system or you can change your belief system. But I find so many people just have such a negative attitude about trading and they're trading every day. Well, how do you think you're gonna be successful? You won't. You will continue to lose. You're on a, you're on a train derailing off the tracks any second if you really don't think there's any way to do this successfully or make this kind of money or more. Because you can, I'm telling you you can, one, I'm doing it to, I've taught people to do it. They're strangers to me. They just came to me that I taught and they're making money. So I mean, it's not impossible but so many people are trading every day and they actually think it's impossible and then they're basically working against themselves. What do you mean trade down before the momentum starts? Is there a risk? I don't understand that question. I don't understand that question, Eric. We do use stops so I don't get what you mean. I'm not doing anything in Microsoft because I don't know if Microsoft is gonna gap down and I don't know if it does gap down if it's gonna be a good gap down, what do I mean? Microsoft could rally, Microsoft could reverse. Microsoft might not rate 26 points, do you follow me? Anyways, here was the Tesla trade that I did talk about in an email the other day. I think it was yesterday or something my assistant sent out. I called this trade on Tuesday. It was a 185 puts and I did not hold this but you could have held it. I thought it was a good trade. I got in and out when I was up. I got out on the next following day, the 19th and it was a, oh no, shoot. This was not the, no, this is the, I have these mixed up. This is if you got out the 19th. I have these mixed up at the top. If you got out the 19th, it was a 54% return on investment. If you got out the 20th, it was 269%. Forget the top here. Those dates are wrong, I'll have to fix that. Let's look at the chart. So on this day, the 18th, I called the 185 puts. It gapped down here. It was a good trade. I got out, you could have made 50% whatever on the trade. There was, I know one person at least Muhammad that held it. So again, the 185 puts I called here if you got out here on the 20th, that I think this went all the way up to 26. I put 24 in here. I looked at it. I looked at it to see what it would have been worth if I had held it at one point during the day. But I got out here. I booked the money, I boomed. But one person I know held it into this and it was down more than 20 points for the strike. It was a really nice call. So I'm just giving examples here. Let's talk about beginner and advanced even though the top dates here that I have for the exits are wrong. I wanna show people the potential for what you could make. So I thought this was a solid exit at 10 costs of 615. Again, if you had taken two contracts worth 1,300, you would make 700 bucks. That's within 24 hours. She would take it and she was digging out on a Wednesday. Now, if you held it into the day here on the 20th, you would have made the biggest, biggest, biggest move. $1,700 would have made you 21 grand and $1,300 risk. Oh, shoot, I forgot to put that in here too. I'm sorry. $1,300, I'll tell you right now what this would have made you. Would have made you 3,500. So the whole point is that this is up to you if you wanna hold something, I didn't, I didn't. So, I mean, like I've been almost too conservative in this market and I've been sending out options trades after the fact because obviously people paying me for the service I'm not sending them out when I send the trades live. People have to pay to get these trades or paying for the service. But I send these out after the pact and I always get these questions. Oh, is that the best idea you could have gotten? No, I don't get the best exit of my options trades all the time. I don't get the best exit of my day trades all the time but I do make money. So you sort of have to save yourself, okay. If this market wasn't so sideways I might have held Tesla a little bit longer but you can't look a gift horse in the mouth. 50% is a good return investment in a trade but obviously if you held this through this day 269% was a lot better and I do know one person that did that Muhammad he held it. So, you know, I mean, there'll be other trades like this there'll be ones that I might hold Tesla was not one of them this week but we had so much money in this and so much profit in this and so many trades that we did that again, you just get to the point where you don't want to be piggy and you don't want to be greedy and you're happy for the money that you make. Any questions here on the Tesla? So it is about the power of money and if you're interested in my class I teach it once a month. The Golden Gap course teaches one solid strategy to trade gaps effectively by reading the side of power and charts. The course teaches how to read support and resistance to take positions in the right direction. The course teaches a more proficient and advanced way to read charts focused on technical analysis and gaps.  Even if you don't take a trade in it and you see that it works then you're gonna believe. You're gonna believe that it works and you will be a believer. So anytime you have any set of goals I say work backwards from that. You have to start with the cash you have now. You say, okay, well, where do I wanna be in three months from now? Where do I wanna be six months from now? Where do I wanna be by January 1st, 2024? If you can be learned to set goals for yourself that are realistic, you will get there.   I say chunk it out. Again, I could have made more in that Tesla trade but I'm making my goals. How can I complain? So many people are having a rough year this year. It's been a choppy market and so many people are day traders and they're struggling this year. They're trying to find things to do to get any kind of momentum and stuff isn't just moving right. Like if you're trying to trade the cues right now how are you making any money? You're not. Any questions here? So we talked about quality, quality, discipline. Put the stop in, okay? It's about quality not quantity. And then if there isn't anything good one day then maybe you don't do anything one day. So for me, my plan of action is I rate gaps that rate 20 points or more per the 26 points, okay? I get the best entry. I'm looking for one, three would be a huge target. We did have a huge day trade actually in Netflix or not Netflix on a Tesla on the Thursday. We create a money management plan or we not we, I have one for myself. You're gonna make one for yourself. I can help you to achieve whatever amount of money it is. Maybe you wanna make more than 20k. Maybe you wanna make less. Maybe you're trying to supplement your income because you got cut back your hours right now. Things are changing in the workplace. People are not getting raises. Companies are tightening up. Maybe you just want an extra 1,000 bucks a week. You're happy with that. You know, you're not trading all day.  That's what's the beautiful part of this. Do I have a similar reading in my 26 points reading the futures now? I don't trade futures. I've never traded futures. I don't trade futures. If you wanna take my class and you wanna apply it to futures, you can. But I don't trade futures. I don't trade futures. I don't trade forex. I never will. I like to do a stock market. I'm making money doing it. I'll just risk more money if I wanna make more over time. But I'm in a groove. And again, I have a lot, I'm doing a lot at the same time. I'm talking, I'm teaching, I'm trading. I'm doing things quickly. You know, the fact that I can even do everything I can do like that, that, that, that, that. Just is just who I am in my personality as fast as my brain works. Many people could not do as many things at the same time as I do in the first half hour of the day. But I don't have any interest in doing anything other than US stocks. And the US stock market will always be around. Always. And that's the nice thing too. So we're all the companies that we trade. Apple, Microsoft, BA. None of these companies are going under. Unfortunately, Bad Bath and Beyond, like I said, went under, but the big ones, the big companies we trade with volume that move through not going anywhere. I do not trade in the pre-market. That's what I'm doing to work. The pre-work, the pre-analysis. That's what I'm studying, reading, looking, scanning. No, I do not trade the pre-market. You can't put stops in either. So it's the wild, wild west, you know? You wanna leave futures too much screen time all day? Yeah, I mean, so many different countries, I'll just say this really quick and I'll get back to finish up the webinar. So many different countries have stock markets. They move very slow. So people want to trade the US stock market and you do not have to be a US citizen to trade this US stock market, actually. So you can trade the US stock market from anywhere in the world. People, I mean, the US stock market is very, what's the word I'm trying to say, I'm tired, advantageous to train because stocks have a lot of volume and move and there are many other markets in the world that do not have the same volume or momentum moves on the day and the US market does. So it's attractive for people to come and that's one of the reasons there's so much volume in it too. So the class I teach in is the Golden Gap course and it teaches a 26 point rating system to find the best stock to train each day. The course teaches what direction to play the stock and it also teaches you how to play the stock on the live day and take the entries and exits. The class teaches you how to read institutional positioning stops and the Golden Gap course teaches you how to date read gaps. So it is about working smarter, not harder. The longer that I do this and the longer that I live on this planet, there's other things I wanna do with my time and my life and I don't even have kids right now.  You don't wanna work on 60 hours a week. I mean, you don't wanna take all this time.  And then it can relax the rest of the day. So it's like the total focus in that very short period of time and then you're done, boom. So I mean, that's the best, best scenario. You have friends in Malaysia and Hong Kong trading US stocks. There you go. Tough hours, tough hours with the 12, 13 hours, you know, from that, from Asia. Really, really tough time zone to be trading in, but people do it. People absolutely do it for the reasons that I talked about. I can go in lots of places for a vacation, but I love New York and I actually love the new area that I'm in. It's like living in, I feel like I'm almost living in a different city right now since I moved. It's like night and day from where I was before a sun. I wanna enjoy the neighborhood that I'm the new neighborhood, I'm in more than before. In fact, we had so much rain over the weekend. There's an area in Central Park that I haven't gone to yet that has this path with cherry blossoms that I want to go over. I'm so sorry. I have not turned everything off today. I had the TV on the phone on it. I apologize for that. Anyways, as I was saying that there's an area that I wanna go take a walk in the park where all the cherry trees are and it's far up from where I live. So it's like, not like I can make a quick walk in the morning before I trade. Like I would have to walk this area in the park after I'm done trading, like around 10, 30, 11 in the morning. So I hope that it's nice enough and I get a nice day one day this week with that rain that I can go do that before all the cherry blossoms fall. Okay. Any questions here? So we're into 2023. I mean, we are into it four months into the year. Can you, it was telling a friend today, Memorial Day weekend is a month away. Literally, like a little bit more than a month. It's April 24th. Memorial Day is the 30th, the 31st or whatever. 30th weekend, that weekend, it's crazy. I mean, that's the beginning officially of summer. I mean, it's shocking how fast this year has gone. I feel like I just moved and yet I moved in November. So time just keeps ticking on. Every single day is a chance for you to start anew and have success and move forward with your life.  They're stuck using old systems. They're stuck in an old mindset. Like I said earlier, they don't believe they can be successful, but if you don't believe that, why are you doing this? And if you know that you wanna change your mindset, then just do it, okay? Then just do it, just change it. You can have a great year in this year. You got eight months left to make it great, okay? Yeah, the theater district is going strong. Here's some testimonials from people.  So ask yourself, how badly do you want it? Do you wanna be successful? And I teach a class, like I said, it's called the Golden Gate Course, but it's really a two-day course on how to find pick-and-play stocks that are professional bearish gaps. I teach it once a month. The class is $69.99. It's April 29th and 30th, 90th to five p.m. Eastern time. The next class is actually, I think, the weekend before Memorial Day is the next class. It's more than a month away. I'm so sorry that my phone keeps ringing. Anyways, if you want to sign up for the Golden Gate Course Day two, I'm offering a Paying Half Now, Half Later special. You can pay $34.99 50 now, and then you can pay $34.99 50 in 60 days and do day one. So I'm allowing people to do day two, which is the entries, the entry part of the class, start trading, be in the room for two months, train, be in the room every day. Then after you pay the second half of the class, you do day one, okay, which would be in June or July whenever the next class is after the 60 days, and you would get the rest of the year free in the room then, and then on day one, you learn the 26 points. So this is something I'm offering through this Friday the 28th if you're interested. Or you can just pay for the class up front, do the whole class this weekend, deadline is Friday, and you can get the rest of the year free in the live room. Any questions from anyone about anything at all, if you do, you can email me here. This is like a real office today, I got a lot going on, phone ringing like crazy. I do not have the live trading room without doing the class, Eric. So you must take the Golden Gate Course to enter the room. Normally the room is $500 a month or $39.99 a year. So when I do specials like this where I offer the free room time, it's valuable because you normally have to pay $69.99 for the class and then $500 a month after that. So you get the free room time with this special no matter how you do it. The pay off now half later or pay up front, do the whole class and get the room free for the rest of the year. So it's a nice bonus, but everyone that's in the room has done the class. I go over the ratings in the class, it's proprietary information, so you must take the class for entry to the room. I don't have a separate subscription. The newsletter for the options though, that you can sign up with no prerequisites. It's $49.99 for six month subscription, $69.99 for 12 month subscription of the options alone. That's the newsletter, that goes to your email. And if you're interested in that, you can go to the website here and you can look at all my classes and all my subscriptions right here. Somebody I just slept in late, we're almost done. Whoever that was, I think it was Peter, we're almost done. That's the website. Any questions from anyone about anything at all. Listen, have a great night. Beautiful night here in New York. Thought I might take a little walk out right now before it gets dark. And we will see what we get in the market tomorrow. If you have questions, you can email me again. I see a lot of old faces here. I don't know if some of you are ever gonna do the class. Don, I emailed you weeks ago. You never helped me back. Brian, I see you, you're an old timer. Douglas, you're new. I did an excellent job, thank you. Any of the new people that are interested, email me. If you'd like a trial for the room, email me. If you're interested in the class, email me. If you wanna know how to pay half now, half later, work, email me. This is a good deal, because it allows you to pay for half the class and train for two months in the room. Listen, have a great night. And I will see some of you soon.


You say you feel less puzzled about the issue or mystery of jobs now. How is that? Well, during an entire year, our team was conducting research on jobs and development, but it was not just our team. We went out to two dozen countries for consultations. We had a panel of experts, policymakers, advisors from developing countries, from academia, and gradually a clear picture emerged. And the picture that emerged is that much of what we care about in development actually happens through jobs. Jobs should not be an afterthought of growth. Really development is what happens when the right jobs appear. So is this also a new insight in economics? Well, probably this is not a revolution in economics. We will be completely pretentious to say that. I think what we do is we take jobs out of a labor market analysis. Remember that in developing countries, most people are farmers or self-employed. We take it out of the labor market and we put in the development policy. So we go from labor economics to development economics. And when we do that, we realize that things like gender analysis, poverty analysis, urban economics, all of them happen to a large extent through jobs. So there is no analytical revolution. It's just looking at the problem from a different angle. You've gone through a lot of research and data on, for instance, household service. What's the data challenge being for you? In some areas, research has led us to have good data. Twenty years ago, priority was given to poverty, and by now in every country, we have good household service that cover the entire population. It is not like that for things related to jobs. When you look at the kind of service we use, they tend to be labor force service to measure unemployment in cities. In countries that are still rural, where few people are wage employees, this is not the relevant instrument. We have planned level service, but I look at the formal sector. In developing countries, you have even in relatively rich developing countries like Chile, you have immediate micro-enterprises. So not having a look at what happens at the low-end gives you a completely distorted picture. Someone who creates more jobs, the large, the small, the micro-enterprises, the answer I will not trust it because the data is missing. So one of the things we did is to take every database that was really nationally representative that we could have access to the micro-data and process it. There is an enormous statistical annex to the report that is available online, can be downloaded from anywhere in the world, but this is an agenda that needs to continue. If you try to get those easy points, I mean, name three key points that people should take home from the World Development Report 2013. Well I would say a first very important one is jobs drive development. So things like gender equality, functional cities, getting out of conflict depends on jobs. It's not just something that you get as an input for production. So jobs are more than just an input for production. That will be one. Second is it's not just the number of jobs. We have focused too much of our analysis on unemployment problems. In developing countries, poor people work. It's not that they are out of a job, it's that the jobs are not sufficient to make them and help them make ends meet. So it's not just the number of jobs, it's what kind of jobs. And perhaps a third one is that the nature of the jobs challenge is very different depending on the country. The jobs that will give you the development transformation in an agrarian economy are not the same as in an aging society or in a resource-rich country. We came up with a typology of jobs challenges, age jobs challenges. Some countries individually can combine two or three of them. But having clarity of where are those jobs, when is that getting jobs for young people will contribute to peace, when is that getting jobs for women will contribute to improvements in health and education for children. When is that functional, see this is what is missing. That's I think one third method we would like to leave from this report. Okay. Thank you very much. Thank you.