Bitcoin Plunge and Covid Variant Scare

On Today's PreMarket Prep:

• Covid Variant B.1.1.529
• Oil prices drop over the weekend
• Travel Related Stocks
• Bank stocks
• Bitcoin Takes a Fall on Thanksgiving

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Meet The Hosts:

Dennis Dick

Twitter:https://twitter.com/TripleDTrader

Spencer Israel

Twitter: https://twitter.com/sjisrael

Joel Elconin

Twitter: https://twitter.com/Spus

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Unedited Transcript:

Good morning, everyone get access to actionable news and market research. With all the information you need to invest smarter and profit faster. Start your free trial today@prodotbenzinga.com. I hope you all had a great Turkey day is a good thing. We decided to do a show this morning. I'll say that. It's good.

It's been a pretty crazy morning so far, man. Do we have a lot going on? And Joel is here. Mitch's here. I'm here. I think Dennis will probably be joining as well. Cause he won't want to miss this. You will want to miss this right now. This is pre-market prep with Joel cannon, Dennis, Dick and Spencer.

all right. What's up, Joe? What's up, Mitch?

How are we doing? Oh, no, man. I just wanted to watch some football.

This is unexpected. Is it not? I mean, I woke up this morning and everything was down. Joel seemed to you, right? Yeah. Did we, uh, did we share a little graphic yet? Well, uh, we haven't been saving it. Well, we, we, we, we can show it if you want a, uh, cause this is what happened in the market folks. Rob Paul, we changed it up to 47 17 a Thanksgiving day, Thanksgiving day.

I was watching it and oh, there we go. Yeah, it is whoops. Yup. It is. Uh, we'll just go straight to the numbers because, uh, I got the screenshot out. I should do it, boy. Oh boy, this, this does it. Now trade station messes up a little bit here. This doesn't accurately, accurately reflect how high we traded. Uh, this was 6:00 PM, Thursday until, uh, 1:00 PM on Turkey day, we traded up to 47 17 and then we started to leave closed at 1:00 PM.

Right? And then this is like, this is the league. This is the news. This is a bid that a pretty orderly sell off. Uh, we got down to 45, 97. Of course I had to add numbers to my sheet. The low of the month is 86 50. Well, LA and other lower at 93 and a quarter pre-market low 97. Are we going to get down there and expanded range day?

Oh, I don't know. We'll see. But, uh, there are, there are some daily support levels in that area. I'll tell you right now. If we got a pop to get up to this 50 handled like 46, 50, 46, 60, that would be mid range on the session. That would also fill the gap from Friday's low. I'd be licking my chops there, but, uh, that's uh, that's 40 handles away.

We'll see. We'll see if we can get up that high. Crude tank and who's going to need crude, like in another pan, dammit down 4 75 at 73 65. I have to figure out a new retracement or a little flight to quality here. Gold. After the bad week, last week, bounce back. That's up $24. That's nice movie teen. Oh eight 20 silver in the green by 13 cents at 2363.

Uh, no safe Haven in Bitcoin. They did have the old Turkey day rally going on. They got it up. It was near, near 60 K. Now we're down 30 654,210. Ethereum's going the same way on a percentage basis. That's down $255 and 44,060. I would just say on the crypto front, Joel, when I went to bed last night, I was ready to call the victory victory for me.

I was right. I said, everybody. Everybody a theory them it's going to rip after Thanksgiving, I'm telling you. And it was, it was, it was a five, 6% last night. And I wake up this morning and know, so, oh, well, uh, you can't, you can't win them all, but, uh, holy moly, if, if you are watching the show and you somehow don't know the news, the hemline of the day, uh, is that last night.

Um, a number of countries came out and said that oil actually, mainly the South Africa came out and said they knew COVID variant has been detected in South Africa. We are already seeing several reports this morning of, of, of, of this same variant, uh, being detected in other countries, uh, in Africa, in Europe, uh, there is a number of countries that have shut down their travel, uh, from Ash, from Southern Africa already.

Uh, Israel did it, the UK did it. You're getting the who, world health organization meeting on it today. Um, we don't really know much. All we really know is. Apparently based on the early, early indications, um, it does seem to be pretty contagious, but two big caveats, right? We don't know how deadly, we don't know how effective the vaccines are against it.

So those are the two big things. We, we, the two big question marks regardless, the market does not wait for anyone. The market jumps to conclusions, and this is why we are down today. We will spend the rest of the show talking about this is the reaction justified. Is it not? What do we do about it? But that is a story of the day.

What a ouchie Fowchee, half. He was just on CNN a few moments ago. And he basically said the exact same thing I said at the end there, which is like, we don't know, we have two huge question marks, right? We don't know if the new variant will be resistant to the current vaccines and we will decide on a travel ban potentially after we get more information.

But B 1, 1 5, 2 9, sounds like a star wars droid. It is not a star wars droid. It is the name, the four that we have for now of a new variant. Um, and it is, uh, ripping through markets today. So we don't know is the bottom line. We don't know a lot. Um, this is not the first new variant we've had, obviously. Um, but until we learn more.

It seems like I, you know, we haven't even reported deaths. No, I don't think so. I think we only have like 22 confirmed cases of it so far. Um, but it seems to be unusually contagious in the, in, in the early goings. But again, if it's, if, if, if the vaccine works against it, then who cares? You know what I mean?

If it's not deadly, then who cares, but we don't know those things yet. So. I, I mentioned, I were talking earlier this morning. It's probably the reason that we're down today. Like this is probably, it's a combination of two things, right? It's it's this Hamline, but it's also the timing of the hemline. Cause there's, there's nobody nobody's home right now.

There's no liquidity. It's Friday after thing is giving. No, one's no one's at their desks. No one's trading. Um, that's probably exacerbating the, sell off the. Right. Okay. Um, it just, I mean, things have not been peachy keen here in Michigan. I mean, this is, there's nothing new. I mean, cases have been on the rise here in the Michigan and Michigan hospitals are still not full yet, but you know, it's just that, it's the hospitals.

It's the Dallas. And what about, um, our boy, uh, uh, Scott gallium, has anybody heard from him yet? He should be, uh, he should because, and he's the one that proclaimed the pandemic over. So I don't know. I walk a Walker and the charge saying a hundred confirmed cases from Africa two in Belgium, five from China.

So anyway, let's just make our way through the carnage here. I just want to look before we do, I just want to say one thing. This is not a surprise. Okay. Pandemics, you know that they don't the first thing that Lisa said, she talked on the show though. Uh, you know, last year it was like pandemics don't last a year.

They don't, they don't just come in. They, they there's, there's different phases of it right now. And you had to be prepared for it. So. This is just a different face. And in fact, not Todd talking about going away, this is something that is going to be here in some form shape or form for a long time. So you can, we can gauge the market's reaction to this, but this is kind of like, this is the new reality and people, you know, people that think it, it never took place.

Well, you can keep thinking that people that think it's just gone, they could think that too, but this is, this is something that we're going to be dealing with for a long time. So, so yeah, I mean, definitely. And, and, and the chat is, you know, sort of agreeing here. I mean, the timing is not helping things, right.

That, um, really this is, this is actually, I think normally one of the slowest, if not the slowest day of the year in the U S market, right? Maybe the wall was falling day of the year. Like nobody's on what is trading today? On the psycho straight today, but they got the market going wide and they got the rocket going.

So I'll tell you one thing, guys. Uh, it's definitely gonna be one of those days where you think there wasn't going to be some trading going on, but I think there's going to be some trading going on now. Definitely. We got for sure, a lot of movement. Uh, I know Dennis is probably out there kicking himself because this is one of those days.

That is definitely an arbitrage type of day. Oh boy. Yeah. So let's, let's, let's run through, right. That's what we do here. We get dealt the hand and we're like, okay, what are we going to do? Okay. So we do, we do have some big time gainers, like big time gainers today. The stocks. Positively off of this office news.

These are going to be your mask stocks, right? Your medical supply, some smaller medical supply names, names that you wouldn't have heard of, but are ripping off this names. Like I S PC eyes specimen, which is up 70% this morning. Um, yeah, there are so many new ones. Joel, there was so many new ones, right? P C I S P C that's that's it.

And their day to bring a headline. Yeah. Yeah. So, um, health supplies, like health supply company. Yeah. So yes. And then you have like another one H P I, right. Allied health care products. H P I, those are your two big gainers this morning. Um, on my, on my filter at, uh, uh, movers tool in Benzinga pro. And then if you can think back to the, the other mass maker names from last year, you can talk about apt, right?

You can talk about a little lake. Those are the names that we know about already. Um, but you do have some, some big time gainers this morning, moving off of this. Um, you know, and then you can go to the vaccine stocks, right? Is having a good morning. Um, BioNTech is having a good morning. Novavax is having a good morning, right?

You do have some, so it's not like everything is down today. It feels like it is, but you do have some stocks moving in the other direction. This is good. This is probably as clear of a trend day as we've had in quite some time. And the trend so far this morning is if you are a, uh, company that deals in medical supplies, or if you are a stay at home company, you're trading higher.

If you are a reopening company, you're trading and while we're, and it's pretty cut and dry, like as cut and dry as we've had in, like I said, in quite a while here, you can look at Netflix, right? And the. Zoom in the green Peloton and the green, all the airlines are down. All the cruise lines are down. We got a smart person here, BZ B.

He noticed I had to recreate a chart and he noticed it. Wasn't linked to my other charts. Scott looks knows my charts better than I do. So what are we doing? What do we do with these stocks? Right? What are we doing? What do we do? What do you do? Well, let's, let's just look at them individually and then I'll just give you some parameters.

If you, if you're not, if you're not, I don't have any of these. I mean, I have the, I have the Pfizer, I'm not selling it. I have Palatine. I don't even want to talk about it. I don't have, but let's say you had these stocks today, right? And they're in your, your, your short-term portfolio. What was, what was the first one that you gave me?

I specimen, yeah. I asked her. You see? Yeah. So, so yeah, I guess let's group them together. You have let's group. The first group is the high flyers of the day. I SPC and HPI and like apt and late. Let's say, let's say we'll call it those four. Right? Those are your mass clinical. I don't know your mask plays.

Um, uh, I'll put them in the industry there. They fall into diagnostics and research. There we go. Okay. So we've got like four or five of those names, right? These are all big time today. What? This is a group. This is a group a for, for this morning. What did we do here, Joel, if we are correct. And saying, this is probably an overreaction, then it would stand to reason that these are the first things.

What happened, first of all, what happened to this thing or not? That's a Tuesday. What happened to this thing on Tuesday? Is it just, they just, it's just a low floater floater. Joel. It's it's got a ton of craziness. Okay. First of all, if, if you have target. It's 1703. And you're at your target price. I would say, you know, stick with your plan.

Number two, number one, number two. I wouldn't. I mean, if you're buying these and you think they're just going to keep going. Good luck. I don't, I don't, I don't really have any, I can't give you an area. I could give you a what looks on the 15 minute, but you know, that could change in 15 minutes. Um, I will say you got some bag holders in this one you snuck over 19, a couple 18 over a couple of days ago, you got 18 and a half.

They liked it in the pre-market got through 18 and a half. It got to 19. So. I would look for it too. If it didn't get up 18, 18 and a half 19, 19 and a half 20, I expect this one to roll over a little bit, overhead supply. Now, speaking of bag corners, Joel, if you want to pull up a PT or a lake, I mean, those are the ones, those are also ripping higher, but those are the ones that were prior last year.

And everybody's down in those. Now, if you, if you held the entire time, not that I'm not saying you did, but if you did, right. So every, if you look at like either of those, every rep has been encrypted, so. Can I six 50 for this one. I know it traded over six 80 now you're back at 6 29. I mean, six 50 was resistance.

I would look at the six 50 that, I mean, lower the move yesterday. This one's not, but loud. 22%. It's just a lower price stock. So I'm looking at resistance here. First things, first, six 50. See if you'd taken out there and then the pre-market high. You had a double, uh, a double top, uh, 6 86 here. And what was this off?

The 4:00 AM path. 6 87. So that's for those two. And then you mentioned dot where lake

Oh, like all these people from the 15th are getting their money while they were getting their money back. That's something that's a big fade that hit 22 started to get into the gap. I don't know. You're at 2031. I don't know where it's bitter offered, but 21. You know is you have to look at that because that's what the five day highs.

So that's the resistance and that one, that's not, wow, this wasn't used to move. This makes me think that a lot, you know, that people aren't as when you see this, I mean, it hit this one. Didn't get much up a box, 6%. I look at 21. Okay. What is, and I will look at it this way, right? Because your two biggest gainers of the day or ISP C H P I, I, if, if you said Spencer, you have to chase one of them or you have to chase one of these, one of these masks suppliers, I would say, okay, I would much rather chase ISP C or HPI.

Then I would apt or lake cause apt and league have, and, and, and VLN two have, I'll never have much more overheads by then, or maybe not in VDL and that was wrong. But lake and apt have much more, there are people in this thing from a year and a half ago, right. I mean, who was in ISBCC from last week that.

That's money, right? That's down money, no money. Right, right. Or, or, or, um, uh, uh, or, or HPI. Right. So those are, those are going to be your, your YOLOs your, Meemers your crazy traders. That, that's what, that's what they're going to be trading today. They already are, frankly. So, um, I would do what gold does. And this is why like pre-market highs and lows are important.

Um, not the end date. We look at dailies as well. I don't know how relevant the dailies are in this case. They're probably not. It's great. When you can get your dailies, like to coincide pretty market levels for this one. I mean, what we're seeing. Is that there is a pop and the pop was sold. All these starts, whether that trends going to continue or not, we don't know, but the news has been digested.

It hit, you had the 4:00 AM open, uh, for this one. You're, uh, you're over a buck, 30 off the high, right. You got over 10 bucks and HPI 10, 19. Uh, and man, look at just 10, you know, 9 95 was the sigh here. I mean, if they could be strong, but I think if you're, if you're, you know, if you're logged on and you're waiting for more CB, get back up to those, those premium.

Yeah. And just to be clear, I wouldn't chase diddly squat up here. Right. I SPC HPI. If I would not, if I had to, then I would pick one of them, but I would not, I would absolutely not chase these things up here. As Joel said, they're already off the pre-market high. That's your. Right there. Mitch, your thoughts on these?

Yeah. So what I would do is I'd just be watching these out the gates. You want to see the strong ones remain strong. So look what Joel is pointing out there is that the strong ones are starting to show weakness going into the bell. Um, so look to see if they get that strength to come back in at the bell, um, ones that I would watch, I would watch sums that didn't make that big of leaps in our kind of near, uh, daily breakout points.

Uh, Cod X is one that I'm going to give out that we didn't mention, uh, that's code diagnostics. I do like that one. If it can get back above nine 50 today, tests back up there towards the 10, that one's going to be one to keep on watch, and then you gotta, also can watch INO. Uh, but there's a lot of these.

So what do. We always talk about the relationships, watch for these to all kind of move in an area. And I don't think you're going to see kind of different correlations where you see like some of them moving up and some of them are moving down. It's probably going to all move in that one direction. So I'll be looking for that to at least, uh, at least give me a tipping of the hat.

Then I can go ahead and react. All right. The, the largest news magazine in Europe is reporting that the, who is saying, there's no need for new travel restrictions over this new variant. Let's, let's actually use that to pivot into the travel area. Let's go into, you know, what do we want to, should we finish up on, um, uh, let's finish up on the drug stocks,

you know, because I mean, Pfizer, modern is up 11% this morning, right? If, I mean, this thing's going to be wild. If you have this on for a trade 3 36 in, in Pfizer is like, I can't tell you, I mean, it's traded 3 million shares, you know, that's a lot of stock, so right. You know, they could have the New York open book.

They could take out what's open to the book, but I mean, by and five. All three. I mean, there they'll be, if you want to buy this today, see what happens off the open because I, I don't see you openness this up at 54 and a half going 55, 55 and a half 56. I mean, the way Pfizer is traded on days like this is holding up pretty strong because I think the thinking is that all Pfizer are going to come out with something.

I saw someone mentioned the chat. They're going to come out. If this is a true Varian and we need another vaccine, that's all conjecture and speculation. This is a new all-time high. You are obliterating the former old time high at 52 84. You're over two bucks above that. Keep an eye on your pre-market high.

Your pre-market highs 54 44, but just be aware of when you go. Daily's here. Oh, a couple of days we stopped at, uh, 51 for just under 51 and a half. Right. That means there's going to be paper in the book at 51 and a half. Those people are probably not going to cancel their orders on this news, right? 51 and a half 50 to 52 and a half 53, 53 and a half 50.

I mean, on and on until there is going to any, it does need a market maker has to find buyers to satisfy all those, those sell orders. So man opens up here 54, 50 55 bed. Then shame on me. This is, this, this looks like, uh, you know, if you got the weeklies, think about this too. If you got some weekly options in this one, let's say you sell it the open.

Let's say you just took a flyer on the 53 calls or whatever you sell on the open. Let's say the opens 54 and a quarter, right. That stock could be at 54 and a half in. And that call could be at a less price because they're going to be, you know, the premiums on this are going to get jacked on the open. So just keep that in mind.

That's what I'm looking at. And Pfizer, Merck's not having a good day, uh, give us the Merck news. Well, yeah, there's actually a couple. I want to clean. There's a couple of, uh, COVID. Vaccine slash treatment related headlines today, independent of all this other stuff going on. So the Merck headline is out.

They have some data out on their pale, which we haven't, I haven't heard much about for quite some time. And I guess the, the efficacy of the pill was much lower than originally thought. Uh, I'm really here from the Benzinger pro um, it, I mean, it is still effective. It did reduce the risk of hospitalization, but, um, what were the, what number did you say Joel was like 30, 30% efficacy.

Yeah. Yeah. And then, so that's Merck and then the other one is oxygen. Oh, CGN the FDA put a clinical, hold on. Oxygen's investigational new drug application that would evaluate oxygen's COVID vaccine. So that's, that's on the whole oxygen's code. Vaccine is on a clinical hold right now by the FDA. So that's not great.

That's your biggest loser of the morning and Merck with their own, their COVID pill against, I guess, less effective than previously thought. This one, a lot of people caught in this one. I don't know if you want to try and buy the debt. Uh, pre-market low. And this one comes in at, uh, five 13 getting a little bit of a bounce.

Uh, the merch, I mean, it has its setbacks here. This has been a real volatiles stock. You're breaking down. You're off the pre-market low of 78, 20. Ah, it just looks like you might find some bind interest here right here. If that backs off again, 78 11. So the way it feels right now, Merck got hit, but, uh, it's getting the bounce now.

I think it could be a little bit tougher to buy a closer to that, uh, that pre market low. And if they say it gets anywhere near unchanged on the session, uh, let alone what's the bottom of yesterday's range that that could happen 81 96. If you're looking for just a short term, that's what two bucks away, the way these things are going to be moving around.

You never know. You don't know unless you have your orders out there on days like this breaking news, uh, Pfizer put out at. Reuters reporting to Pfizer says that it's the vaccine escapes, variant emerges that the company, uh, will develop a vaccine against that, bury it in about a hundred days. So let's see guys, everything is fine.

It's all fine. They said that it escapes we'll make another one days we got that. Great. Um, Matt Miller just dropped us a five spot to look at BFR. That's another one. There are a bunch of other, a whole bunch of these low float biotechs ripping today. And I'll just show you guys in the Benzinga pro how like I'm on them, the movers tool.

You could just see. I mean, we talked about a few of these already here, but BFR I B I M I G O V X, right? Vaal and there's just a bunch of just low flow. This is, this is such a new stock. Yeah. Yeah. Wow. I mean these little, these, they all have like less than 10 million shares in the float. They're liable to do freaking anything, anything I don't like these things don't treat technically.

They, they clearly, why did he say pop on a, I got, these states are tough. I just think pop on Wednesday. Uh, uh, if they got initiated at a, at a, at a, a buyer at Roth capital, I think that's the only coverage on this stock. Wow. Good timing. Bio Roth, capital Mr. Roth is also an underwriter of this IPO, but I could be wrong.

So for this one, I like, and since I have absolutely no data to give you on. This one. I mean, I see the pre-market high at 7 98, but just the way this thing is trading and the activity, I mean, it's faded now as we speak. So I think that pre-market highs good, but I think this one, you could see one of these moves where it goes, you know, and this is just looked into the right and look into and not look into the left and just given my ideas from what I'm seeing.

This one could like blow to a blow through eight, go to nine, go to town. Go to a lab and then turn around and come back down and come back through eight. How back down through seven 50. So, uh, you know, pick your targets right now. You want to see them? It's imperative imperative that this goes to, uh, the pre-market.

Okay. Now that pre-market highs just under eight bucks. We, we, we spent like half the show talking about the crazy stock. Let's go to like the, like the stocks and the moving, but a little bit less crazy, right? Like the, the stay at home plays, right? Like zoom, zoom, which is up 10% this morning, Peloton jaw, you're having a great day.

I'm going to the bank almost going to the bank, Netflix. Right? If you always stay at home, play you're up. Now, this is so if, if, if group number one was the crazy whoa, float biotechs that are ripping higher by 40%, this is, this is what I'm going to call group two. These are your staying at home plays.

Let's group them all together. Assume they will all trade the same way today. What do we do with these. They're not all the same, cause some of them are enough trends, some of our down tracks. But, but, um, and, and maybe that's important context here because Netflix is very different stock zoom, but what do you, what do we do here?

So I would say there's about two different types of stocks that we're going to find, right? We're going to find the stocks that we're staying in the trend, and we're going to find stocks that were coming out of the trend and the stay at home trade. Of course, Joel and I, we got Peloton and bodied. Uh, so those are some that are oversold that I could see bouncing back into this, move a little help on the story.

We need some help on the story. Uh, so w what are you thinking here, Joel? Peloton, uh, up 3 54. So here's the problem with this it, and I think I mentioned this on the shows last week. Like, I don't even know what my average cost is or whatever, and I don't know what anybody's average cost is, but there are people in, and I'm not talking just about Cathy, but there, there are quantitative traders that are buying this thing in, in mass and they're buying in averaging down and they're buying a lot of shares.

And let's say, they're, I'm just throwing out numbers here. The low what's, the low of the Mo the low of the move was made. I have 41 30. Right. That was on, um, these days messed me up cause today's Friday. So that would be Wednesday on Tuesday. So they're just averaging in it like prices that other people wish they had.

They get a pop like this. They're not looking for 50. They're not looking for 60. They're not looking for 70. When you have that kind of size on. Now you're seven points off the low. So it'll for this thing. If you think this thing is just going to catch a bed and just keep on running and running. Good luck to ya.

But I just saying that, and that's going to work against Peloton going in the hallway up. Uh, you're going to have these people getting out of short, nothing really fundamentally has changed on the company, right? People aren't running out to buy Palatines today. You know, how often do we say we sell rips in Stockton that are in down trends?

Looking at this, look at this pop that you had here and look what they did to it. Now, is this going to be different? I don't know. Be better get through 48 box, right? If I always I'd rather buy it at 48, 10 at 47 50, because at least you took out the pre-market high and then you could just go up like 50 bucks.

I mean, if this thing saw 50 bucks today, I'd be surprised who knows stocks can do anything. We don't know anything. Your next daily high is 50 0 8. But what if you scooped this thing up in 42, 43? And you know, you said you were prepared not to hold it for a while. You get that kind of percentage moves. So I get going through 48.

I'm looking at 50 0 8, uh, at sea, uh, 19th high, and then the next daily highs, 51 80. I got one question though. Does this push you over the top of buying maybe today on the black Friday with discounts? Uh, yeah, but when are you going to see those results? I mean, yeah, I I'm just saying like, you know what I mean, maybe it plays into people's mentality today thinking, well, if there's variants out there that maybe I do need a Peloton.

Yeah. It's interesting timing. I mean, if he, I mean, I can't dispute that. I mean, it changed your Christmas list from, uh, you know, going to buy, uh, you know, today's the day that if you're Peloton, you better drop that instead of buying a, you know, swimsuits and goggles, you know, you're oh, by the way, it did deter me.

I, I didn't hop on that Pollock time this morning, I went right to the gym and went swimming at five 30. Hey, Mitch, Mitch should check out my private message for a second. I we're trying to get Dennis on here in the background. I can take care of that. I'll work in the background. Um, and then here, here, here's a chart that is, that is less cut and dry.

Uh, stayed home, play, uh, DocuSign. Why don't you look at D doc you, it is up today because every student I'm stopped is up today, but the long-term trend is less. Yeah. I mean, this one, you know, you think this is a stock that could potentially do well in any kind of environment, right? Um, not as well, but I mean, it's just, it's become acceptable.

I don't know how many things I've done, you know, on, on DocuSign. So probably better, you know, as a, as a stay at home play. But to me on this one, if I had. And the side, cause this one is still bid. I mean, it's still right at the pre-market I what about 2 60, 2 36? You know, you're looking for another six bucks on this one.

That's the next daily high. I really don't even see any, I see a close, a close and a low at 63, 11 63 34. So I'd use that as a, as a target today in, uh, in DocuSign. And then you can see, I get it opens up even more after that, but that's still six bucks away. I'd be using the target where to buy this thing.

Uh, you should have bought it on a Tuesday or Wednesday. I can't give you a really a good entry point. And, and, and yeah, just guys think back to last year, think back to the, the, the, you know, last year we cut the stock market into two groups, right? It was your reopening stocks and it was just stay at home stocks and all your standalone stocks like door dash today, staying home, play trading higher.

Right. Disney is interesting too, because Disney. Um, really is a reopening play, but it got valued as, as a move. Like you stay in a homeless stock cause they had Disney plus, but really it's a real one. Oh, what do I get rid of the one 50 line now look at that. I'll keep it. Oh boy. Well, well let's cheap.

Let's go to this monthly low. Uh, what was this one that month? Lilo was. 1 48 34. So I'm gonna, I'm going to erase this because I just did not the one 50, because it was just a ballpark number. So we're going to get official on this one and we're going to go 11 what's today, the 26. Right. And then we're going to go with that one.

What was that exact monthly low here? Um, 1 48 34. I'm going to have to put that in and again, I'll get that in America. So if you were waiting for the one 50 and you missed it, And you, you would decide to wait a little bit. Now you're getting a little bit more of a discount, 1 48, 34. That was your December low before you took off.

The only thing you're looking at here is you still got Disney plus premium in here, but now Disney plus, I mean, in a COVID environment, does that take on a little different it makes Disney a bit of a conundrum because it, it is a state. It is reopening play, but it moved like a state of home. Blake is Disney plus.

So, um, and, and yeah, so the chat just, just remember it as well. You know, uh, against all this tickets, Tim was on the show on Monday, uh, against all of this environment is, is we do have some option expirees messing with things this morning. So, um, that's just another, another, this is a gift. If you, if you have some, like if you got the one 50 Pulitzer or something, I mean, whatever, there is an option land here and whatever, you're tired.

If you got something that's juicy, I mean, this, the, these are the, I'm just talking short-term here. If you have longer term positions, let them run. But this is, this is a gift, a gift to open on the downside. If you get stuff open and down. And I think it's a gift open on the upside. I mean, it's not, you know, because especially with these premiums, the way they are left for dead, you know, people probably have, you know, one 50 puts close to 1 50, 1 34, this is going to be a loser.

And that's who you had buying on that 1 46 people. Thank heavens for the variant. I get the I'm making money on my one 50 poets. I'm going to buy the stock at 1 46. I know I'm out at one 50. I mean, that's, that's what's going on in the markets. That's oh, I know. You're doing a great job taking over the, the rants of Dennis Dick, but we actually have him here and we'll bring them on.

Let's see if we can hear him. Oh boy. Hey Dennis, can you hear us? I, I hear you match. I don't hear anybody else what's going on. So, so it's going to be a little difficult for you to hear Joel and Spencer, but I got you in here. Um, so at least, at least everyone can hear you, uh, go for it.

I think my first day off this. And this is what you guys do to the market. I know other days off, apparently you guys just can't control the markets without me. You need me, they're providing with. Well, anyways, I obviously I fucked this day off. It's typically historically pretty slow. I'm obviously yesterday's on nights, long weekend, traveling hotel with the kids all planned out.

And then, you know, I'm looking at the future last night and I'm like, what is going on? And then, you know, if it was south African strain thing, I'm like, oh boy, here we go again. So I'm trying to trade from an iPod from my hotel room. Obviously my wife's not proud because I never take a day off my hotel room.

Anyways, I'm working out of some Amazon working out some different position. I mean, this is typically a pretty good day for retail black Friday. That is not going to be the case today for obvious reasons because retail is reopening and you can clearly see we have a reopening trade going versus a stay at home trade looking this morning.

I am driving now, but I'm not at the markets right now where I was checking 20 minutes ago and Teladoc VU, Peloton, the video gamer, you know, all the, a lot of different tech names, obviously catching a bit here because this is a clear move to stay at home once again. And then a clear. Like major selling pressure and everything that is reopening, which is the cruise line, the airline, the casino.

Um, you can go obviously, you know, into retail, which is having a rough day too. The banks are having a terrible day. So there's clear separation happening here. And it's a lot of, you know, the opposite of what has been happening lately. Cause these sectors have been strong. So you're seeing not only, you know, people caught, you know, overnight here, you've got people caught that were buying strong and selling the weak.

And you're seeing a reversal of that year in a lot of the morning because of this south African variant. Now I have a little bit in the dark because obviously I'm from a hotel room. I don't have my Benzinga pro. Um, so you know, information, you know, I kind of feel like I'm a little bit uninformed, just kind of grabbing what I can from.

Um, and you know, trying to get a feel for, you know, what's happening, but it's fairly clear that fasting, if you, I feel like I'm throwing that dark. If you're a new trader and you're trying to just do it on your own and not spend any money and sit there, you know, and watch the NBC and trace from your iPad.

I have no idea how you make money

without all my scanner, without all my information. I'm like this trading blind basically gives me a deal. Yeah. So when's the next off day. I never again, after that, I'm never going to take another opposite match. So take off days when you're going to miss the best trading day of the year, normally on a daylight Bev, I would be doing very well.

I do very well in volatile markets, and obviously I'm not trading. I had some overnight positions. I just thought, oh, I'll just work out. Those, those will be easy. And then all of a sudden liquidity is gone. And you know, here you are trying to adjust to some of your overnight positions here, which weren't positioned very well.

I don't have a lot of swings on right now. The one thing I did do is I, you know, I've been nervous about the market. I've been talking about it for a few weeks. Obviously I wasn't talking to south African strain coming a new one, but you know, I had been nervous at the technical assessments setting up well, so I had been lightening up some, uh, you know, I basically gotten rid of all my lawn planes.

I'd actually sold the youth, talked about my longterm portfolio. I'd put Las Vegas. Sam took a loss on that. I think I talked about that about three or four days ago. So around 41 and 9 41, I think, I think it was 37 this morning. Um, so, you know, a couple of things I did while on the longer-term stuff, uh, positioning for that, but you know, is this an overreaction?

I think we've got to ask yourself that question too. You know, we're going to continue to see new strains that doesn't like, COVID is not going away. We said that, you know, people who just think COVID all of a sudden go away, disappear and we're going to resume life. You know, we already have is probably not the case.

We've got to learn to live with them. So, you know, in the markets have learned to live with them. And that's why you see clear separation. Yes. It looks like a really ugly day for the market, but Hey, there's some stocks trading up on this. I looked a little while ago, Amazon, I thought was trading them in green.

I don't know if that's still the case, but you can clearly see that there, we know that there's certain tech companies that benefit from that. So, I mean, you go back to that to a certain extent, but does the market struck this off and then, you know, in a week or two, I tend to think so unless it really gets ugly, like my industry and all of a sudden, you know, it starts to really spread and, you know, rapidly.

I, I tend to think this is an overreaction, but the one concern that I have is that the market already wanted to go down and this gives them an excuse to go down. You can build them the tactical. We've been talking about it on the show in the last week or so the market wanted to go down and this is a really good excuse for it to go down, find the, you know, on every single thing.

But on certain names, you know, certain tech names, maybe you use that opportunity. I mean, there's some beaten down stocks. Obviously they got the Peloton foods that are going to have a nice rally here today. I would not shave those rallies because of this doctor down trends, but maybe there's some other stock maybe wanting to get into some commodity name they're probably going to get at today.

Two thirds to that. So as you're shopping, Fine. One stock that happened strong selling rips on stocks that obviously had been weak. I'm always playing that strategy. All right. So, uh, we got some questions here. I'm going to pitch them in from Joel and then Spencer here. So the first one up is of course, PFE Pfizer.

What are you thinking about these healthcare stocks now, Tom, what is still, first of all, I'm not at my computer. If I can't do the same thing, same thing bill said he can't tell him what it's doing. So it's actually up right now. It's up there towards a tat about a 7% up move in. Pre-market here. Uh, it's popping up.

What about maternal? What about Madonna? I'm long. Modern, actually I'm long and that's my, one of my only swing I'm swinging along the dirt. Um, the doughnut was also, uh, it's also, uh, um, on this news, I would hope. Yeah, we're up about 12%. Yeah. So it's the question is, is this an opportunity to ring the register and some of those names, because none of the had already been rallying into this, we knew, you know, that they'd been worried about obviously what was happening over in Europe and COVID for a little while here now.

So we've seen a rally and some of the vaccines, dark Novavax, but they're not Pfizer, you know, and, and, and that truck stock to the question is on some of these, it's just like, now it's like a situation where you do ring the register and some of these names. Um, you know, I'm obviously still trying to analyze a lot of things on the fly here, so I haven't fully got them, you know, and I'm obviously just left the hotel room and I'm just driving here for the 30 minutes, but I just, you know, I'm trying to figure out, you know, where I'm going with lot of things.

But I think a lot of these, uh, healthcare doctors are I've been rallying and rallying. Now they're getting that upside capitulation. Boom. I think it might be more of a selling opportunity here than a buying opportunity. So, but there is a while for that. And I bought this about two and a half weeks ago, I think down, I don't know, a 2 25, I think.

And now it's probably pushing close to 300, maybe over 302 or three weeks. That's a pretty good game. Pretty fast. I probably have 25 or 30%. I'll have positions in a matter of three or four weeks. And it might be the time to think about rain register as opposed to buying more now. You know, it depends on where we're going, but I mean, some of these things were already strong and I feel like sometimes this is like, I feel like it is an overreaction and a lot of names and babies and overreaction to the PI side on some of these drug stocks.

All right. So I heard you already mentioned some stocks like, uh, T doc and zoom. Uh, let's go to maybe what do you, how do you feel about, uh, travel stocks today? Uh, they're definitely taking that hit, but it is this kind of, uh, an overreaction in those travel stocks. I think it is the problem is they were weak going in though.

So, you know, my typical strategy is to buy stocks that are an uptrend on the weekends. Those are all in soundtracks and then they're getting added to the weakness. So that would go against my principle core strategies of always, you know, trying to, you know, by the, by the Stryker stocks to sell the weaker one.

Um, I would probably. Gather that there could be a, you know, a bounce, but it's, it's tough to catch a falling knife in these names. These days, I looked at this point, carnival cruise lines down another 11%, but it had been hammered already going into this cause they were worried about Europe. They're worried about this thing.

Not going away. I think the no touch from yet, they got it. They got to start showing me some life. And right now they're not showing that at all. So catching the falling needs and some of these, you know, you can see carnival cruise lines down 10, 12% of Qubole another 10 or 12% in a hurry on you. And you know, then you'd be really stuck.

So I don't want to be a hero. I don't want to come out and catch the ball at night. I'm telling these names, I think I'm selling strength maybe in some of the drugs doc, if I was at my desk, And I'm probably looking at, you know, buying some of the, maybe I'm from the commodity game, just as, you know, shorter term for him.

If they're getting, I'm assuming the commodities are getting hit. I didn't even look at that trade this morning from my hotel room, but I'm just automatically assuming if we're onto, you know, uh, more stay at home tray, they're gonna hit all the commodity names and those happen. So, you know, like, you know, maybe look at some of your steelmakers if they're really getting hammered, you know, a job but low, but again, it, this is a market that I'm not really fully inclined to be just jumping in and buying stuff.

I was smelling stuff in the lab. Do you know that if you've been listening to the show because I've been worried about the technical, so I'm not so sure we just bounce right back and rip roar to the new high. I just get some names that might be the case, but you know, some of your texts is like, your Amazons are going to hold up better today, but it's still a very tricky market to just come in blind and say, oh, I buy the dip.

I make money here because we're so over bought. And then a lot of Naples. Well, thank you, Dennis. Of course, like always you can't stay away from the market or maybe the market can't stay away from you, Dennis Donnie, man, I would not have taken the day off Mitch. This market would be doing nothing right now.

I just sitting there thinking, why did I not go away for a long weekend? My set up I'm thinking, okay, I got Thursday off Friday. The half day thought is done. If I was ever going to take a four day weekend with my family now as a kid, but we went and rented a hotel, a little water park. I mean, the kids are loving it and I'm thinking, and I looked at the market this morning.

I'm like, oh my goodness. It's costing me so much money. You know, an opportunity cost obviously, because on these types of days, these are the days that, you know, any efficiencies and go Laura and I love any visits. So, I guess you've got to just not think about that kind of stuff. Obviously you got to take days off here and there, but it always seems like it's like Jamaica flashback.

I went on my trip to Jamaica, like holy cow, it's a complete, you know, flashback to what we were doing a year and a half ago, once it down Jamaica and watching the downfall a thousand points a day, why am I not at my desk trading these off Mergen so, but you know, Y you're gonna, you gotta take some time every once in a while it was a half day, I would say, obviously it's going to be a really good half day for those traders who are sitting at their desks.

I'm trying to trade a little bit my iPod, but I'm limited with what I can really do all the information. So two points, I just want to say again, if you're sitting there and you're trying to drive how to watch CNBC, that's what I've tried to do. And it's really tough to do. I guess if you're a long-term investor, you can do it that way.

If you're a short term trader, you gotta pay for them. Yes. You subscription at a bare minimum to your best thing. So at least they kind of have some news flow of what's going on Charles block. And, you know, obviously the scanners is a different information, so it should've been thing of Proteus day because I don't have it today and I feel naked.

That's how it is. And we'll just to give a little pitch here. Of course, we got a black Friday sale. So out there, if you want to check out fencing TRO, it doesn't go down as the new black Friday. Uh, Monday,

I tend to think it's maybe a little bit over. I don't think we're going down like 2000 now. I would hope that's not the case, but you enjoy your vacation, man. I know that you're stressed out a little bit. Pauline not enjoy. I'm stressed right out. Alright, Mitch. Thanks for bringing me in everyone. Have a great weekend.

Happy Thanksgiving to everybody. I mean money. Isn't everything they got. Enjoy your family. Got to get out there every once in a while. So I'll be Thanksgiving. We'll see you guys on Monday. Joel. Joel's PepsiCo. Get on buddy. Thank you. Thank you, Dennis. We're back. So, so he said that he can't hear me in Spencer, so it's a normal shit.

Take a normal day with us and easy Mike asked, does he ever take a breath? No. He never takes a breath, keeps on going and he doesn't even, he doesn't even drink coffee. It's a thing. I can see him in the hotel room and I could just see Laura. Laura is the nicest lady. I could just see heritage, like, just like, like your hat, like holding her, like, come on dad.

I don't even know who was in the car with trying to leave the hotel room and she's like, come on, Dennis. We got to go to breakfast. Why don't you want to go get that, uh, that free? You don't want to miss the free breakfast at those places. Right? So he, uh, I think he echoed a lot of our sediments, right? As far as, uh, uh, you know, just randomly buying the dip here now, you know, conversely, if you, you know, if there's stocks that have been on your shopping list, right, and you want to go shopping, you know, this perhaps would be the day, uh, you know, for newer traders days like this, and it may not, you know, maybe trade.

Right. Something like that, because with the way stocks are being moving today, you don't always need the same size. You're not going to have the, uh, the same, uh, same liquidity as well. So, uh, all right, let's go with, okay. So, and then the one thing I want to add here, uh, this is a, a crazy hypothesis, uh, and I'm noting that the market has been going out here for the past couple of hours, but, um, or at least it hasn't made new lows, which is something, but, um, how, how's this for a thought, if this new Varian, if it ends up being very serious again, that would mean any kind of change to monetary policy is off the table.

Tapering tapering is off the table, a rate hike, forget about it, right. Uh, get about it and isn't that what the market wants. So. In, in some perverse way, bad news could be good news in a perverse way. Think, think about it. Think about it, think about it. All right. We have, uh, five minutes left in the show today.

I w I do want to do some ticker time and I do also want to thank Nick. Maulucci in chat for dropping us a Benjamin Franklin, a hundred dollars bill. Happy holidays to you too. Nick . Uh, and everyone in the chat, someone else had asked about FUBU. Can we look at FUBU here, Joel, this is let's take a look. This was interesting to me, cause I, I would have assumed re a stay at home play, but it's not acting like it this morning, uh, down 79 cents.

And I mean, this had. You got a couple loaves in the same area, maybe. I mean, right now I would just, if you really want to own food boat. Wow. 1464 is where the slope was in may. It's rhino. Obviously we're not going to see that today. Trended down 79 sides. I can't give you anything. I can't give me anything on the monthly's to really like say to lean, to lean on a 20 psychological number.

I mean, I mean, this thing's going down and it hasn't stopped since 34 bucks. So I don't know where, where you step in to buy the dip on this one. Well, give it time maybe. Oh boy. Well, I guess for. You know, the 4:00 AM overreaction in this, uh, took it down to 1950. It's a buck above that. So you think you're going to get this thing in 1950 today?

I don't have to late for a little bit more to develop on the dailies on this one. And as you all know, I have not been bullish these stocks. I have not been bullish your food. I have not bullish your DraftKings. I have a napkin bullish your pan, uh, draft Kings. Uh, we're going to have a talk with Sean. He's been a buyer since 41 here.

I still that $35 area. I mean, I still, you still have to look at this. You had three monthly lows in that area. Boom today. The news is definitely not good for pen. Uh, you know, 52, that was the area it got off it. Now it's down to 67 opening into the SA oh boy. 50 52. So let's see what happens. 50, 78 was the low from Friday.

So maybe if this thing goes back right under 50, they headed, then it comes back up over 50, 78, a potential buyer, but, uh, on the upside. Major resistance in Penn here at 54. And, uh, just real quick. Um, today, like after we finished today, uh, I'm going to go over to pre-market prep. We're going to have Sean you'd all on and, uh, it's going to be public.

So anyone you don't have to sign up subscribe or do the free trial, pre-market prep.com. I'm trying to convince Spencer and Mitch to come over there with me. And, uh, you know, he'll be licking his chops, man, because he loves the buy the dip. We'll see what he'll be looking at, um, on the dip today, that's a pre-market prep.com.

Let's get to some more symbols. We'll have that link for you if you want to get on over to market prep. So the description also has a link to the Benzinga pro black Friday sale, and it has a link to where you can sign up for the final pre-market prep plus webinar. Of the year it's in for three weeks, two weeks.

Okay. Two weeks and Mitch, I'm getting tons of compliments on that video. Let's do it. Let's do it at the end here. Definitely. But we have to leave time here at 8 57 here. I do want to leave, leave time, uh, a couple minutes here at the end, Joel. Um, I know you're feeling very nervous and I know, I know it's a big weekend for you.

Tomorrow is a very big day. Do you want to tell us your predictions for the let's look at the screen right now? Joel, I got some graphics just for you, man. I know, I know. I'll sing the song. Oh, hi. Oh, hi state. Oh, holla. Hey, this is a game. This is the big game. Um, I mean, I'm surprised the spread is as low as it is, right.

It's seven and a half. Okay. Okay. Ohio state has, and I'm not even looking at the line. They have six bonafide, NFL players, three wide receivers, a quarterback, and then two running backs. They're going to be tough. Okay. But Michigan. Has Aiden Hutchinson, top five draft choice. Right? They got doxed in hill.

They got David as yobbo. Okay. They got some tricks up their sleeve. Hopefully I'm hoping for rain and snow and sleet. I'm stuck breaking out the double long Johns. Uh, I just want it to be a cool day. We gotta just, you gotta keep 'em off the field. You gotta eat. What if we don't score? We got to get the ball.

We gotta have a drive. We got a score. We can't let them on the field. If they are unfilled. They're going to eventually score. So I've never wanted to beat Ohio state more than this one

reminds me in 1969, though, when, uh, Michigan was a huge underdog and, uh, they came into the big, they came into the big what's it called the big house sand, but I mean, it's going to be a tough game and go what works last for my wife and my daughter got a commission and shirt I'm fired up. I, I usually don't sleep this week.

Anyways. You don't think about the game and thinking about strategies. Now I have to look up the spoos down 50. It all. I'm like, so it's taken my mind off the game a little bit. It's going to be fun. I'm looking forward to it. As long as it will travel, as long as I don't see like. Oh, man, come on, come on. I don't want to see that.

I want to see more like this. Nah, I rip 'em you gotta rip your shirt off and you got to flex some baby. I tell you, man. No, there there's those Ohio state people there, man. They all, they're going to, they're going to pack the stadium. They're going to be coming up in their RVs and they're going to be, I mean, this is it.

This is it. This is the game. So you guys, you guys know where I'll be back on. Um, I'll be back on Monday to matter what we're going to wrap things up. I'm just going to give you my quick look at the spoos here. I mean, of course the most important thing, charts, charts. Yeah, the most important thing is to hold this.

Pre-market low here at 45 97. Now, if we take out that pre-market law, we go down, I still see some other daily lows in there, so I'm not going to get super excited and on the downside, but the longer the bulls can protect that pre-market law. Then I, you know, you gotta get a pop off this, right? And I'm thinking a really nice pop would be to the bottom of Fridays Fridays range, which would be 56 and a quarter that's only 36 handles away from here.

So keep an eye on those parameters. Same with your stocks. I'm going to hop over to pre-market prep.com. Spencer. I don't know what's going on there to Israel. Did we get to see any Spencer pictures? I asked you to grab a spectrum picture. Do you have one, a young Spencer picture? This is my dad and I, when I was two years old, we lived in Taiwan.

And for six months, this is my dad and I outside the grand hotel. The famous hotel apparently owned by Chiang, Kai Shek or something like that. I'm not quite sure, but anyway, that was two year old Spencer living in Taiwan. Okay. I'm hopping off the pre-market prep.com. We are going to cover some more stocks over there.

Stretcher admit you if you can join me. That's great. Everyone have a great day. Great weekend. Go blue. All right, we're going to go ahead and end off here with the trailer here for the execution. You guys check out this event. The last event here up the year.

All right, get ready. Pre-market prep. Plus. So here it is intro to professional trading. Three, how to maximize your profits and reduce your slippage. We're going to teach you how to read the consolidated tape and look at the order book. This is your chance. We're going to tell you how those off extreme market makers are making money off your retail orders.

And we're going to show you how to level the point, your execution order flow and papery. Be there. You guys say we're fighting.

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