Tesla Immune To Chip Shortages? IBM's 20 Year Test

Episode Summary:

• Market Recap
• Tesla Still Loved, will Tesla be immune to chip issues?
• Trump SPAC DWAC
• Earnings from Las Vegas Sands, IBM, and more
• IBM worse performing stock ?
• Bitcoin backing off from ATH

IBM, MGM, LVS,TSLA

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Guests:

Peter Tuchman, The Einstein of Wall Street, Wall Street Global Trading Academy 57:00

Twitter: https://twitter.com/einsteinowallst

Meet The Hosts:

Dennis Dick

Twitter:https://twitter.com/TripleDTrader

Spencer Israel

Twitter: https://twitter.com/sjisrael

Joel Elconin

Twitter: https://twitter.com/Spus

https://www.premarketprep.com/

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

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Unedited Transcript

Good morning, everybody. Happy, happy Thursday. It's pre-market prep time. I'm Spencer. There's Joel. There's Dennis, what do you think we're going to talk about today? I'll give you a hint. Um, Trump's stock Trump stock. That's one thing we're going to talk about. We're going to talk about that. We're going to talk about Tesla.

I'm gonna talk about IBM. Uh we're uh, while sitting at Sans, uh, we, we got some stocks. We got some sex chats all over it. Juts fired up this morning. I could see it. I can tell her. But, but from the, the pace of comment in the chat, everyone is fired up. We are fired up as well. Hit that like button for us.

Let's roll with the charts. Joel, how are we doing this morning? Uh, we're in the red here, uh, by 14 and a quarter handles 45, 13 75 is where we're trading. Uh, that's down new, all-time closing high yesterday, not a new, old time high, but closing highs. That's a good thing. Uh, crude down 55 cents at 82 87. You have gold down.

Six 50 is 17 78, 30 silver in the red by 29 and a half cents, a 24, 15 Bitcoin off 1400 bucks at 65 to 60, but the serious going the other way, a theory comes up $113 at 42 48 and a quarter. Good morning, triple day, fired up as usual. What do you, what do you want to talk about Trump stock jumps stock. I'm going to say that all day.

That's from Kramer show, obviously, but did he say that? No, he had the button remember back like four years ago had money. And when Trump became president, he like whenever there was a stock that would Trump, you know, it would help the press, the button, Trump stock, Trump stock. Now we actually have a Trump stock.

It's cool. This was a headline. I'm sort of a mad at myself for not seeing this one coming. You know, I like this in hindsight, it seems like the most obvious thing in the world. I traumas back. I mean, it's, it's a match. In heaven, right. And a social what's. The story is going to launch a social media platform.

It's a soul. Yes. It's a new social media platform. It's going to be called truth, social truth, your, your symbol. And, and this is, this is why we care about it because, you know, we have this backs symbol here, DW AC uh, this chart is interesting. The reaction I'm overnight, I'm showing it. Uh, so for, uh, okay. So first of all, wow, I'm not quite sure if you look on the right-hand side there, you see that big cane.

I have no, I have no idea what, what that's from. That's from the, the SPAC IPO, like three weeks ago. I have no idea what that's about. We're talking about the left side of the screen though. The top left and the bottom left that's from last night, this thing had 20 bucks. This thing it's. I got to go look at the tape of this one.

These 4:00 AM traders that are just chasing price. And again, we should go on the ramp for about 30 seconds here. Before we get into the Trump stock, which is using this as an example, if you are chasing, if you're so hot for the stock overnight, you can't wait for the 4:00 AM open. You're going to pay any price possible.

You're probably buying at a really bad price and right in the opening candle, it looks like we hit $20. It has been cut in half. If you bought at 20 or likely never getting your money back, or at least not anytime in the near future, um, it's come right back down. We know specs have huge support under 10 because that's where you can get your money back.

If you don't want to go through with the deal. So pre deal, obviously you can have announced deal, but after, you know, the deal is announced and tell the merger is closed. There's the option for, uh, shareholders to just get their 10 bucks back. That's why you don't re you rarely see these things trade like much below, like 9 80, 9 70.

After the fact. Now, once the merger closes, then it becomes a new company. Then it can go anywhere at once. But I would expect major support down at $10 on this. Obviously, for those obvious reasons. I don't know if it's going back. Maybe the buzz will bring it back up a bit, but wholly 20 bucks, you can forget about that.

Uh, you don't really want to know what the value was. I'm going to try to open up this redo Joel, couple hundred thousand. Yeah. Somebody was really excited. I'm going to look right now. So right off the bat, the initial print, it looks like I've got $13. So it actually climbed. So it looks like it opened, the opening bar was 13.

So you can see right at the bottom of that candle, I'm just actually looking right at the tape right now. Um, I can't see it on my screen, but I'm just going through the consolidated tape. So it opened at 13 and the next minute it ran to 14 and then it kept running the next minute it was 16. So at 4 0 2 30, 60 and a half, then went to 17.

Then a four by four here's the top here's the top print, actually, believe it or not, five shares were bought at 2270. So it was an online show, odd lots. So somebody really got excited and bought five shares at $22 and 70 cents. That was a 4 0 2 32, a bunch of sheriffs, not, not a ton of shares, a hundred shares, uh, went off 69 shares a 2020 shows, all odd, lots, all really small trades.

And you know what that's telling me a lot of retail traders. No one, you know, professionals probably not trading in 5, 10, 20 lots, neither of the algos. So then quickly in the next minute, falls to 16, 15, 16, that it bounced around for a bit in the 15, 16 area for the next, the next 20 minutes, but definitely overshooting that opening candle and then the slow, slow leak, leak, leak, leak, leak, Joel, showing.

I like the way you do that. Just show weekly clique, um, and all the way back down. So obvious 10 86 here. Now again, I would expect you to support down at $10. I don't know if you're gonna get that low today. Uh, but if it did get down there, it usually, they usually, they had to get sucked into it. To be honest, usually it's backs eventually do get sucked back in the 10 bucks, but this is a Trump one.

It'll have some buzz. It's going to be talked about a lot in media, so I'm not sure it's going to get all the way down to 10 today. What do you mean. No, it's, uh, I'm sorry. I'm sorry. Yeah, we're 10 87, 10 40 is the pre-market low. Yep. Okay. Very interesting trading. So, so, okay. Tell us more, tell us more social media stock.

Yeah, I mean, w I'm going to get Chris catchy on the stream here? Uh, probably later today. Uh, I don't think he's, I don't know if he's available right now, but yeah, it's going to be called truth social it's it's it's from it's from the Trump media and technology group. That's the, that's like the parent company here.

Um, and you know, we know that Trump got, got banned from all the social platforms. Right. Um, coming up with his own. So it was making his own, frankly. I'm surprised it took the. Yeah, actually, that's surprising. Yeah. So all I can say is, and then we'll move and we'll move on. And I'm going to try to be a little heavy with the moderation today and chat, especially with Mitch out.

But, um, I can say is, I hope he goes doesn't match Mitch, Mitch abandoned us to go to a formula, one race and. And she wasn't allowed days off. No,

Jason, Mitch's going to Austin, Texas to go see formula one racing. Yeah. It sounds like, it sounds, it sounds like a party, to be honest with you. I probably say that's a pretty good party. All I can say. And then we'll move on to these. I hope this goes better. I hope this works better for Trump than Trump steaks or Trump airlines or Trump vodka, Trump university or Trump network or the Taj Mahal or the castle or the casinos, the Plaza hotel, or any of those Sherman investing.

They all failed. So I hope this works better for him than that. I'm a trader down below 10 though. Yeah. Okay. We have, we have a level that is the Reece back. It's the same thing. They get sucked back in the time that I let Dennis handle the technicals and this one it's facts. You know what the trade has been in all these back deals.

You sell the pop there's. There's no thing. It seems like better to sell the river. Then a spark merger announcement, like sell on the rip on those things just works. And you think in this case, okay, it's Trump, he's got a huge following, you know, maybe actually it's going to hold on. No, it couldn't even hold on for four hours.

So all the way back, I don't think it's gone. I wouldn't be surprised. You're 10 86 now. So your downsides like 90 cents at this point in time. So at a certain point in time, you think, oh, maybe I'd take a shot, but that's still 9%. And it seems like these things eventually do have a date back with, you know, 10 move on likes backs.

He might talk, you know, it's been, I think it's been 12 months since we've seen a stack. Like off the, off the nouns. There's not a lot on the merger deal. You're right. They don't ever even get off the map because the algos are already hitting them 50 cents. Yep. Okay. So let's move on here. It's been 12 minutes.

We're going to move on from that. A Tesla is your story, that your other story of the day aside, Trump's pack of Tesla earnings out last night and they were good once again, right? If you think back to last quarter, um, Tesla sort of showed everybody because all the other auto were like chips, shortages.

It's hard for us right now. And Tesla was like, no, no, we're, we're fine. We're fine. With the wood chips. We'll, you know, we're supposed to have some chips. Um, and their deliveries were strong, but we knew that already. So last night they come out with her earnings for the prior quarter or the earnings were good.

EPS, beat sales beat, um, talk to up there, their timeline for their, uh, facilities in Germany, uh, ramping production still. And in Shanghai, Timeline for the facility facility in Austin. Um, and I know there is a big debate going on this morning on TV between our old buddies, Jean and Gordon. Um, but the stock was very easy exactly.

Last night after hours, but the numbers were good. The numbers were were okay. And the expectations were just super high. I mean, these numbers were, were, were great to be honest, but it doesn't matter because you've got a stock that has run up substantially before the report. Again, we're going to say the alpha extraction from being along major names before they report is quite strong.

I'm going to say it's better than a 52% edge. It might be even as high as. Um, that, you know, you make money by buying these stocks ahead of the reports, the same thing. Okay. Two days, you know, it wasn't running, but I mean, you look at this for 10 day run on this thing. 10 days ago, 7 83 went off the board 8 65.

So yes, the S and P has a lot to do with that, but I'm going to say the S and P wasn't up 10% of the last seven trading days. So you'd definitely have some major performance, although the S and P was up pretty good too, actually over that time. So a Tesla big run in big expectations, don't meet the higher expectations.

Stock is still loved. Margins are still great chips. They did talk on the conference, call Spencer about some concerns there. So maybe in the last quarter wasn't affecting them, but the kind of were hinting going forward that they may have chip issues. So, I mean, so they're not immune to this as Kathy with thought.

Um, so we'll see what happens going forward. And that might be why it's down a little bit on this report, because they were talking a little bit about the chip issue. Uh, but in, in any regard here, does this eventually have a date with a thousand? I don't see why not? Uh, we pre-market low we're trading right on the pre-market low.

I see a, a daily low at 8 50, 1 57. And after that you've got a gap to fill at 8, 8 43 23. So there's a little gap area to fill and a way up. I'm sure a lot of people would like to see that close it a 65, 86, 65 80. So I'll give that as a resistance. Now it's had, it's had a big run, maybe. Cool. A little bit cool off period.

Well, we'll see. We'll see if it has actually a couple of gaps to fill, but that's what I'm looking at. Uh, for support. If you take out a 51 47, 8 43. Uh, I forgot who it wasn't a chat just went test is overvalued. Well, yeah, I've been here. That's been the case for the lift for forever as it never has it ever not been overvalued, but it keeps going up.

It's not a stock that trades on valuation game stop is not a stock that trades on valuation. I mean, this is trade on story and hype. The story is not going away. We know they produced a fraction of the cards, but let's give them some credit. Their margins are a hell of a lot better than, you know, a lot of the others.

And that's when something, maybe a point that we hardly make on the show is that the merchants are incredible at Tesla compared to like Ford, GM Toyota. So, I mean, if they can keep up those margins, they should have a higher valuation, at least from the curves that they're selling, it has to do with, with, with selling cars in China.

Right. Because if you think about it, like they make the cars that are made in China and then are sold in China. I don't have to get shipped to another country. Right? The bigger margins on those. So th th those two things kind of go, oh, I think marketing too is just enormous. They don't have really much marketing expenses.

They don't have the physical showrooms really anymore. Joel, they got rid of those. I mean, it's all word of mouth, really. You know, everybody talks about it. Tesla's talked about everywhere. How often do you see a Tesla commercial Joel on TV? You you've never, I've never seen one. They don't ever seen one.

They don't exist. You think about that. You think about how often you see, you know, a general motors or how often you see a forward. The amount of money spent marketing by the other automobile makers is an incredible amount of money and test it. Doesn't have to do. So the story has carried that as well and allows them not to have any marketing expenses.

Really? Yeah. So, I mean, you got to consider, you know, w you know, what are their margins? It's like, it's ridiculous. It's up like 40%, isn't it? I think it's higher than that. 25% anyways, the margins on like for GM or like fractions of a percent, maybe it's higher right now because people are paying above sticker price.

But I mean, you look at that and you think, okay, well, they've done a lot of things, right? You got to give Musk a lot of credit. Does the valuation makes sense? It's never made sense. Is it ever gonna make sense? Maybe not. That's why, you know, I try to be bearish to stock for a long time and it, it, it, the bear trade just has failed.

So that's why I'm like, probably goes higher now, you know, do we get a pullback? Do we get pull backs with the market share, but I don't see this story cooling off anytime soon, I just did a country. I pull up the transcript of the call. They control F for the word, and Bitcoin is. I didn't even mention the client mentions of Bitcoin on the call yesterday.

Okay. So tasks. We don't talk about that anymore. Apparently now, Bitcoin though, Bitcoin new all time highs again, Joel or what? Uh, well, yesterday we did back it off a little bit today. You see high blockchain. It's calmed down. It's down a little bit this morning, but man, Frank, Frank's doing some things right here in the last 30% running five days in that stock, it's been a nice round.

Okay. Taking you back. It's so funny today, man. What are they saying today? Three, that Greta, I love this chat. It's like Thanksgiving dinner. That's chat's good, man. You know, and we, and we have some haters in there it's like 10%. It's like probably like 20% haters, 80%, you know, it gives us some love and the haters are funny too, man.

Like, it wouldn't be a good shout without that. And then you get the war going on. And of course everybody's always, you say something, you know, like they, they want to give us a it's it's kind of fun. I mean, it's all kind of fun. they start threatening your life. Dennis has never done that. I don't think I've ever seen threats.

It's so social media seems like it's like, you better watch your back. I'm like, okay,

well, if you mute, if you mute someone, they won't know you that you can't see them. So, if you, if you're blocked, you can know that you're in blocked. If I block, I, as soon as I take a lot, I don't block enough probably to say something personal or they start to say, and you know me, usually 90% of it's, oh, that's last name, last name Dick.

That's a low hanging fruit. So we'll hit that one out of the park first. So obviously, you know, like I've never got that before or these people are so originally, but anyway,

the chat is good. You know, the hate we get in the chat is still just, you know, differing opinions and stuff. I've never seen a threat from the chat. So the chat, or we love our chat. We love your haters. We love the lovers. We love everyone. So just don't like. Threatening stuff. And that doesn't happen very often.

Um, Joel was this close to threatening. Uh, the CEO of IBM will tell you that much. Cause uh, blue, again, white, big blue making shareholders blue. We never talk about it. What do you want to talk about? IBM for this? This has got to be, you think about, they were into, you know, Watson 20 years ago and they just dropped the ball on like everything.

They literally, they don't even know how to play the game. So I mean, they had to buy red hat. It's their only business is doing well. And so that's all we can do is by growth. I mean it's old, it's cash cow. This stock has gone nowhere for 20 years. Where was it? 20 years ago? Let's get the case on IBM. Go back as far as you can go 20, 30 or 200.

So in the last 10 years of the, one of the best tech bull markets we have ever seen, IBM has been cut in half. In that time. This has been the worst stock to invest in for a very, very long time. I got on board like a few years ago because I thought the blockchain, but they can't do anything with that either.

You don't wanna hear anything where blockchain. So I thought, oh, IBM's going to be a blockchain play and remember worth popping up. And I was like, oh, this could be. Now cause they dropped the ball on that too. So very, very, very disappointing stock to own for the long haul. Um, it seems like they always somehow disappointed shareholders.

Yes. You get a nice little 4.8% dividend. And that worked very well in a non-inflationary environment, but an inflationary environment with growth only coming from basically red hat. Do I want to own IBM? No, I don't. It's going to pop back. I mean, 1 20, 1 40, you know, is it their trades in here? Sure. Is this going to my long-term best portfolio?

No, they just can't fit. Uh, you're coming up to an area, a potential area of support. You just skim it along the bottom of the daily chart. You have 1, 2, 3 lows in the same area. So if you're looking just for a shorter term, target those three lows, and they're really, they're really hock in 1 33, 1 32 78, 32 94, 33 47.

That's a, you know, three, four. See if you get a bounce off that area, if not you're next support. Ooh boy, that doesn't count on the monthly's that doesn't look good down. Dennis mentioned what? 1876. That was your March to March, 2021. Okay, well, let's take a sayings here. Earnings per share. Miss they lost 48 cents per share last quarter versus an estimate of a 21 cent loss sales badly 857 million versus $1.29 billion on the estimate.

Uh, so miss on the top and the bottom line for LVS, uh, what else do we have here? Uh, revenues. You can't compare year over year, guys. It's not do that. We don't care about your, of your comparisons because last year was a mess. Um, what else do I see here? Uh, the positive EBITDA, Denita, their markets, but that's not enough.

So, um, you know what, though, if you believe in the reopening trade, you'll probably find. So, if you believe in the great reopening, you know, we know we had a pause and the reopening, but if we think that we are starting to get past this, we've got some, you know, therapies that deal with this people aren't as scared to do things.

I think when Las Vegas sands have come down enough where I'd rather own these in the airlines, actually I'll say that to you. I'd probably even ruin these rather than the cruise lines. So I don't mind it here if you're buying this dip today and I have Las Vegas sands, I think I still do. I think I still remember.

I sold half. I got to look at that portfolio. I think I still have half of my Las Vegas. And so I am, I guess, talking about book, I sold half it up at 44 when we had that run in August and I was like, oh, I got, I bought it at 52, just terrible, because I thought the great reopening was going to happen.

Terrible buy came all the way back down, and then it got back up and I got half of it back. And I was like, you know, I sold. I might rebuy the other half, but the third area is an area of interest you're trading in the mid 38. Yeah, man. There's just so much competition out there for this. I don't know, but people are going back in and this isn't fake.

Maybe I should go when instead, right. Spencer, if I really want exposure to like Vegas, because Las Vegas sands isn't really Vegas anymore or MGM or MGM, but MGM is a different animal that stock has just not got a dip. I mean, you're buying like MGM, it like basically all time highs. Why so different question to chat even to the chat?

Why is MGM been such an outperformer over win in Las Vegas sands? I don't follow it closely enough, but there's obviously gotta be some fundamental stuff in there. Why MGM is just best of breed. Anybody know no MTM like look at the long-term short MGM. Joel. We are not far off. If we, we may even be at all time highs, you've got to go back re five-year.

Go back further. Well, higher than that pack of 2013. Well, MGM didn't lose their figurehead CEO and winded. No, I think we're close to all time highs on. No, no, no, no, no, no, no. Here you go. Oh, wait. Oh seven. Oh, nice. The financial crisis. We forgot about the financial crisis where stocks never come back for $95 a share.

So get back to the financial crisis. You go far enough back. If you're not a tech stock, there's a high likelihood. I don't know. I don't end the chats on this too. I don't know how much it China or Macau exposure that MGM has. I think they, maybe that's what it is. Yeah. That, that, that, that could be it. That they're benefiting from the chaos over there.

Regulatory. I think, I think at this point in time, maybe it's when maybe it's Penn too, because he gets the Barstool sports pen pull back yesterday. Although ugly little double top from last two days. Uh, I kind of wanted some exposure here cause I still think the reopening trade, like, you know, you know, I've been kind of know hinting around like, you know, should I buy the airline ship buys these cruise lines that keep going down every day.

Um, but if you think the reopening trade is eventually coming back and I think it is like, I think people eventually gonna go out and do stuff either. Eventually I think people are, I think they are too. I think they got spooked. I think the whole reopening trade got put on pause three or four months ago, you know, because we had the Delta surge and then all of a sudden, you know, we're lucky in and we're seeing cases spread.

My buddy. Remember in the summer he was supposed to go to Disney, canceled the trip because to see the cases in Florida, I think that we're starting to get, you know, hopefully, maybe past, eventually I believe we're going to get past this, the God of hope we're going to get past this COVID thing. And we get back to some businesses usual and your people are going to want to go out and do physical things.

We know restaurants have been suffering. I don't know. I kind of want some exposure to the casino. All right. Well, there's $38 area, maybe a, your lucky charm. Then it's a halfway back of that little rally had, so people that miss the rally off that 35 and a half low, you're getting a relook at it. You got a daily low there too at a 38 20.

So there, see, see if 38 holds maybe get a little bounce today, only down a buck or seven. If you're trying to sneak out, uh, you know, on, uh, the low of the range from yesterday, that's 39 and a quarter. Okay. A lot more things to discuss, but even though there's no room on our. On the right hand side topics, but we got a lot more particularly, uh, yeah.

Well, let's go to Crocs. It is your big, one of your big movers of the morning. It's my 1, 2, 3 fourth biggest gainer this morning on my filters tool and think of Crow, uh, earnings per share for cracked out this morning. This is for Q3 $2 and 47 cents versus a dollar 82 sales of 6 25 or six, $10 million.

They're biding sales growth for this year of 62 to 65%. They're guiding sales growth all the next year of 20% compared to this year. So I don't know still who. It's about who's buying these I, because I've had the same pair for 15 years and I will continue to have that same pair of slippers. Um, but people are buying Crocs apparently.

So it's gotta be one of the greatest, um, one of the greatest, like it's companies here, like holes with shoes, you know, shoes with holes in them. And I mean, it's just been unbelievable, uh, that the move that this thing has to sustain, you always think you keep thinking, okay, this is that, you know, back in, you know, obviously beginning of 2020, it was $40 and it fell, everything got destroyed.

Uh, back in March, 2020 got down to $8 hundred and $52. Now from eight, you're talking about a stock that is up 2000% in a matter of a year and a half. So I don't mean one of the greatest moves. I think it's, I've seen the stock in a long time, 2000. At the stock is up in the last 16 or 18 months. That's incredible.

Should it have been at eight? Obviously not. Should it be at 152? I don't know anymore. I mean, this company just blows it away every single time. Whenever you count them out, they come back again. You made a great point in the pre pre-market show. It's like, I don't totally get it because I have a pair of Crocs.

I've had them for like seven years and they're good. You've said what? You've had your Crocs, like how long expensive. I had my crux, my crux livers since high school, you know, I, I basically, I basically wear them in the winter to like, you know, take the trash out and things like that. Um, and they're, they're going to last for the rest of my life.

I think I know, like you think about like the planned obsolescence, where are you? You know, you have like, you know, a TV and it's got a break every seven years. They could sell you another TV. Crocs doesn't seem to do that. These shoes just don't wear out and they don't break. I mean, I bought my daughter a pair of shoes.

I should say my wife because I don't shop. My wife bought my daughter a pair of shoes just off Amazon. They were nice looking shoes. The soles were out in four months. I mean, these Crocs don't wear out. They're fantastic shoes. I don't get, like, if everybody wants, everybody's got a pair, they don't need any more.

Cause they don't wear out, but they keep selling them. let's go to the Crocs Crocs. That's a cool idea. I didn't know that steel toe Crocs. I buy steel toe crux. I, well, let's go into the Crocs website here. This is this a big, I mean, a lot of people are getting their money back on this one, right? Because you had, you got near 1 65, went down to 1 25.

I think. Boy, if you're not really going to register, then you got some targets. I would say one 50. This 1 53 area is interesting to me. Because there, there are two hides in that area, two daily highs from the 28th and 29th. And then you move up to 1 57 20. I keep an eye on that. Pre-market high. And of course, if you're trying to Jordan to blessed you that pre-market, I, it just keeps on going, but, uh, don't that seller, we just under 1 54, that 1 53 areas to sticking out to me, pair pair of daily highs before it really took a, took a dump.

All right. We're on crocs.com. I'm just looking curious what, like what they sell besides like the, the Crocs that we all know. Right. So they got slides, they got sandals, sneakers, boots, socks. I don't know, apparently they're doing, they're doing it right. Or they're doing it to work in all right. Whatever they're doing, they are doing it right.

They continue to do it. Right. Just incredible story here. So, okay. Let's move on. It sort of takes a breath away a little bit. Ah, okay. I want to move away from the earnings for a second. What we'll we'll get back. Cause there are more of them, but I want to talk DD here. Cause DD is trading higher because something the IDI, uh, the Chinese internet regulators suggested that D D actually it's not just DB.

It's DD and it's take her BZ and it's take her. Y M M. Those are all, um, sort of in the cross areas here. Good news coming from China. Yes. Yes. China's internet regulator suggested that those three companies, again, DD BZ and YMM that they do an IPO.

And that would appear to that. Apparently I think anything, frankly, I think anything that suggests that they are going to be taken like that the governments have taken them off their radar or that the, the investigation is like wrapping up anything that suggests that's happening is probably good news.

And that's what this suggests to me that they're like their investigation is, you know, wrapping up. Yeah. I mean, this dog has went from 16 down to eight because basically a lot to do with obviously Chinese government. So, I mean, this is good news, I guess. Um, it's had a nice space consolidate nicely. I think above eight, 15, the bowls are now starting to get into control.

You're breaking the down trend here. Um, above 10 gets a lot more interesting. Um, you know, do you want to be early? Do you think it's going to 10? I, I don't know. I, I still have trouble because I don't know what the next headline that's coming over there. Nice little. Yeah. Nice little pop. I mean, if you're looking for a lot more follow through to the upside, uh, this, this pre-market high, which out comes in at 9 23, that lines up really well with two daily highs at nine 19 and nine 20.

So there's a potential target after that, it opens up to 9 54. So when you get that, when you get the pre-market highs, coinciding with a couple of daily highs, it's a little bit more significance to it. I don't know why they would say why would they would send them over there, but, or get the listing over there.

But if it's a sign they're lightening up a little bit, then that's a good sign for the, for these stocks question. Um, or not a question. Should we go to the PayPal because everybody's talking about yes, I, while I was going to get there, actually, uh, so Joel and I discussed this yesterday. I know we didn't join.

I didn't, but Mitch and I did, it's not every day that you get a mid day. M and a rumor involving two big companies that everyone's heard of. And that's we got yesterday, PayPal reportedly having conversations, according to Bloomberg with Pinterest, theoretically at a price of $70 per share or more, we don't really know.

That's just what the one report PayPal to buy. Pinterest, maybe kind of, sort of synergies here. I don't know. Well, actually, no, I do get it a little bit. It's an e-commerce play, right? That's what PayPal is, is an e-commerce play. That's what Pinterest is. It's e-commerce right. I, it makes them. Proof. I mean, bay pop and pens.

Obviously people speculating that it could be over $70 at 61. Nothing happened yesterday. That's why you see it leaking today. Um, because people expecting overnight, they get excited and it was actually trading up a little bit more last night. They're like, maybe it'll get announced some more. It doesn't get announced every time, every day that goes by it doesn't get announced.

Usually these things leak a little bit. If another rumor breaks, they were breaks more information. Obviously that new information is going to get priced in, but you know, as more time goes on, then you start thinking, okay, maybe this deal isn't happening, the stock off and leaks back. So it's hard to trade anything.

Technically when you've got to stock up, it's potentially in play because we just don't know if there's a deal here. Yeah. I mean, the street is not, not buying the $70 price. Right. Even when the news came out yesterday, it only went to 66. So yeah, it's just a rumor trade to the price. Yeah, I like that. It said, you know, you could come easy, you know, if this thing falls apart, can easily come back down to the 55 area.

And then, you know, people that were banking on a deal yesterday. You know that in earlier, whatever 62 68 is the close big bump up in volume. I'd look at that as resistance and just keep your eye on the tape. See if a deal comes through, PayPal got head off this and I want to repeat what rightfully so if they're going to pay a huge premium for Pinterest, which is already trading, like not a cheap valuation, I want to read Ed's comment.

And then Chad PayPal was desperate after affirm showed up. It's a hail Mary go, you got square by an Afterpay, right? And you have PayPal like going after Pinterest. Um, Y Y and Kramer, I think made this point too. Why are you not going enter something in the pure payments space? Like I, and I think Kramer said affirmed, or somebody said affirmed, which, you know, I don't know.

Maybe they don't want to pay that valuation either. And it's really run the stock, but I don't get the Pinterest. I don't get it. Why going after that?

That's a way, but anyway, PayPal were treated down as, as acquirers often do. Yeah, they do. So. So if, if that's, what, if they were trying to choose their stock, that's had the opposite effect. I don't know a nice segue into, you know, another merger, which a small one we had today. RJ F T S C. So we've got, RJF trading down $4 and they were acquiring price, capital TSC cash, and stock six bucks.

Do you have it in front of you? Okay. Yep. RJF is going to buy TSC $6 a share in cash plus 0.25, Raymond James shares. Yeah. So when you get the pure cash plays, rarely do the acquirers. They don't have to trade down as much, but you got to understand the arbitrage effects. Obviously, you know, on Saturday we talked about risk arbitrage.

Um, I'm I actually was trying to be one of the first people trading this right. First I couldn't. I was trying to get to yet. 'cause he can see, okay. It was 31 or JS, you know, basically not move, but there wasn't much market in RJ either last night. So it's like, you don't really have the hedge cause there was no beds in it.

So, but you know, you're looking at last night, train 27, 28. I'm like, wow, if they're not going to bring it up to at least 29 or 30, you know, you're going to hit RJF because the Arabs will make it up there. So basically what has to happen is it needs to trade up to that valuation discounting for rest of the deal doesn't go through, which is super small on a case like this, because you know, it's a small deal.

And then, you know, the time value of money, which is a little higher than it was maybe last year, but still pretty insignificant. So you not naturally think okay to trade like 30, if our Jeff's going to go flat, TSC should probably trade 30. But now what they're doing is they're bringing down the RJF place.

So at this, because you see 31 don't think of trades 31 because RJF comes down. So for every $4 that are GF falls, obviously TSC. If you gave me that 0.2, five is going to fall. So if you're looking at it right now, that kind of makes sense. So we're 29 and a half where it's trading right now, kind of makes sense.

You think 31 50 cent discount. Cause right now that cash deal would be 30. Cause our Jeff's down $4. So I was trying to short or JF last night on that merger. Um, I got an odd lot. That was it. Um, obviously, you know, it's come down after it would have been nice to get some more shares, but there was just nothing there.

And I wasn't going to hit it down $4 because I'm giving up all the edge, which obviously people are doing now. Um, TSC. At 28 last night was a deal it's 29 and a half. Now it's kind of back in line to where it should be, I would say, but it was slow to respond. There was definitely an opportunity for risk Arabs out there last night.

Just if they were just taking the guts to just go along the TSC Santa, probably not knock in 10 bucks off the price of RJF couple of strange candles over the last month. And this one look at this one and the 27th, he had a big bolt. And then the deal was announced after the close, right? Or was it obviously it's like five o'clock yesterday.

There must have been, it must, someone must have been reading about I'm. I get the memo on TSC. Nice candle yesterday. If you do look at yesterday's candle, we're looking if you're looking at the charts, Joel is looking in the top right hand corner right here. Yeah, that's a nice candle. I don't know if somebody's got the memoir that banks were having an okay day yesterday.

So maybe it's coincidence, but. W w we'll just leave it at that. Okay. Uh, I want to talk Roku here for a second. Uh, a new twist on, on a headline that's that's that has been out there. So if you, if you've been following story, you know, the Roku and, and Google have been, uh, at odds with each other, trying to strike a deal to continue having Google's apps and such on the Roku platform.

Uh, thus far it's really hinged on a YouTube TV. Now, apparently Roku, Roku sent out a statement last night to their, their customer is basically saying like YouTube TV, as well as YouTube. Like the actual Youfit actual YouTube app will not be on Roku. If we can't get a deal with Google, um, Roku was putting down this morning off of this because it's YouTube, I think is like the number two app in terms of hours that people spend watching things.

I think it. Th the YouTube app on Roku though, the YouTube app, I think in general, I think, but I think it's behind Netflix. I believe that in terms of just hours that people spend watching it, I spent hours on YouTube. Right. So you can't find what you're looking for you to find on YouTube. Right? Exactly.

So it's hard. If you're Roku, it's hard to be an over the top streaming service and not give your customers access to YouTube. But that's what, basically what Google is threatening here. They're basically saying like, we're not going to let you put YouTube, forget YouTube TV. Cause that's pretty small.

We're not even going to let you put. I on your platform? Well, that's concerning my parents watch her show on their Roku on YouTube. Well, that's actually not good for us because we're probably have a lot of Roku, uh, people who have Roku's that are watching our show right now on YouTube, on their Roku. So I put a one in the chat.

If you're watching this show via your you YouTube on Roku right now, I just want to know if you're using your Roku. You do, for sure. I'm just curious.

Eduardo is doing it. Josh is doing it. Sarah's doing it. We're in trouble here. We gotta, we got Anthony's doing it. And while it's doing it, Matt's doing it. And Edinburgh is doing it and Miami's doing I don't man. We've got a lot of people watching YouTube on the road. You're watching her show good for viewership by put five points on pre-market prep.

This hopper viewers they'll find a way you guys put a one. If you'll still find a way to watch us, uh, Spotify. Well, you can't watch this go to YouTube. What happened with, uh, what, what happened with Comcast by, in Roku? Remember that rumor? That was real. That was, I don't know how real that is either. Roku's had, had sent a 50 buck move off the low.

So if you feel, I mean, I see great support at 3 25, 3 20, a couple of quiet days there, but a 3 25 is halfway back. And so if you like that, a couple of lows and a 3 24 area. And it's, it's trying to work on a green candle for the month. I think you may see some people trying to buy the dip on this one.

That's what people are doing in the S and P 500 index futures. We are now only down six and a quarter. We've had a real nice rally. Really? Maybe they liked the jobless claims or something. Maybe they just buy the dip. Joel, always, always, but buying, it seems like this market can't stop once. Okay. Uh, we can go back to earnings then we'll do some pickup time.

And the chat, um, at and T was out this morning. The EPS was very good at 87 cents versus 78 cents. Or sales was also above estimates. Uh, now it looks like they reaffirmed their yes, they, they, they reaffirmed their guidance and said they expect that their previous to giving guidance and expect to be at the high end of that rain.

So they had previously gave him, going to give you the two resistance points here. Verizon 54 should be massive resistance. It's almost came all the way back from where it broke down from. We always say old support becomes new resistance. I don't see why it won't. 18 T is 27 bucks gets anywhere near 27, a bag holder central that a lot of people were trying to buy that bottom.

And then it broke down so quickly there. So I think people will be wanting to get their money back up at 27. I think there's people in. That look at the 7.93% dividend, and think it's still a 7.9% dividend because it has it's. If you look at most of your platforms, it's still showing a 7.93% dividend.

It's not anymore because now it's been cut in half. So they haven't adjusted that on a lot of platforms because I have multiple people saying, how can you go wrong with a 7% dividend at and T I go to them while you got to do some more homework, because it's no longer a 7.9, 3% dividend anymore. It has been cut.

So that was the last payment on the last board right now, the dividend, I believe it's half Spencer. Is it halved? I believe so. Yeah. Yeah. You got to cut that in half and it's like only a 4% of that. For those of you, Jerry, about such things. HBO, max subscribers grew by 12 and a half million, uh, to about 69.5 million total, uh, HBO, max subscribers.

Um, compare that to Netflix, which, uh, gained 4 million, four and a half. Uh, last quarter and is at hundreds of millions subscribers. Uh, but HBO, max is, I mean, they're slowly but steady chipping away and just taking time though, but they're growing, they're growing at a faster rate because. Yeah, Dennis gave you that the 27 level.

I'm just looking ahead of that level. You got to pop to 26 43. If in fact you can get to that. Um, I had of that 27 where their papers probably stacked up. You do have a daily high in 26, 77. So had a good day yesterday off the Verizon numbers. And that was coming off another good day. So we'll see if we find some profit takers.

If you want to try and buy it on a gap, fill here the top of yesterday's range. You could probably do that 26 0 9. That's a not too far away. I think there is one more quarter. It hasn't been cut yet. So there was one more quarter, I believe, of the full dividend on at and T. So people can argue and say, yeah, it's still an 8% dividend, but we know they've fully announced that they're going to cut it in approximately half.

They haven't maybe announced the date that that's actually going to happen. Um, so you can't look at it. They can combine on an 8% dividend going forward. You get one more time. You know, it's but it's, it's going down to four, at least that's what the company said, unless they changed their mind. And me see something interesting is we had two airline earnings this morning and they're going in opposite directions, American and Southwest, at least I that last I checked, um, think American, yes, slightly pissed in the trade.

Those airlines always. And I'll tell you something, unless it's a really crazy quarter of bad news, specific to one airline. When you see airlines go different directions. And I might jumping in there for 1%, I'm not sure, but you know, you see them go different directions on earnings reports. You look at them three days later and they often come back in.

So that's just the payers trading. Um, you see a L op Al you be down a lot of times, you'll see them go. Cause put those two charts on top of. You know, they looked very similar. So, you know, this is stuff that I like to Adele take and put them in their URL. All these stocks are so traded against each other by professional traders that you do eventually just usually see them come in.

Nothing works a hundred percent of the time, but a lot of times these things just track each other very closely. Same thing with the oil stocks, which one, all the stock and hammer the other oil stock going up on an earnings report. You look at them like a week later, and a lot of times they've come back in quite, this is a five day chart of Southwest and American.

I'm going to a daily. Yeah. So there is a difference and we know Luvs beta's lower. So when you're looking at our UV, a UAF L two, an AAL comparison might be a better comparison because Al UV has always done hedging. You know, they've always done a lot of other things, you know, they're aggressive hedgers when it comes to oil pricing.

So you get them up there though, and you can see that there's no throw them all up there. You can see there's general, you know, there's a definite strong correlation between all of those stocks. It's put Delta up there to Dal of all up. Let's load them up in the pro, but like, okay, you got American, which has a higher beta than all of the rest of them.

And then you've got the other three that are like virtually 35, 30, 4, 34 identical virtually. And the charts are virtually identical. So you can see the difference. And there was like, obviously American airlines, a little bit crazier stock, but you can see it's still trending and kind of holding. It had kind of had its big move back at may and then just never came all the way.

Um, actually there and knowing that there's a relationship, uh, what do we got for yesterday? I'll just, you know, if you're looking to buy that, the L U V yesterday's low was 48, 86, uh, another low at 49, 21. So you look like you do have someone just cut it nibbling at the $49 area coming back on the upside, just kiss 50 yesterday, 49 97 was the high, um, for a L boom, we're talking here.

That's been under declarant. That's trading up. Are we through, I keep an eye on the two day high here. If you're looking for a target on the upside 1994. And after that opens up a little bit into the $20 handle, but the sayings have backed off real quiet on the monthly chart to the AAL. Look at the bottom, right?

Been at trade the range for the last four months at Rainsboro basically 18 to 22. You're kind of in the middle. All right. Let's do some, take your time from the chat, someone through it to go out there that we haven't discussed probably in three or four years. And the reason we don't talk about it is because he doesn't trade that actively in the U S it does trade in the us, but it's not active.

It doesn't trade on any exchanges, but Nintendo, Nintendo guys, and give it to you. It's N T D O Y N T D O. We talked about this. We talked about this with both Mungo. Was it. You guys, right. You can see that run-up in 20 17, 20. He had the Pokemon go. So let's the news. Is there a new sentencing? It looks like dad in a water.

Uh, oh, gaming stocks have not done. Well, we know, except, you know, take two is bounced back a lot, but the gaming stocks haven't done well in the last six months, really? I mean, EA is gone basically nowhere. We know the Zynga has been hit. We know all online. It's got again, Activision blizzards. They're starting to show a little bit of life though.

There's a Tendo spin in the gutter. I don't know. I could get, again, I don't like buying five symbols because they're not an actively traded over here, but in your long-term portfolio, could I get down and dirty at 54, 55 bucks on Nintendo? But I get talked into it. I could, I could get talked into it needs a catalyst.

And I mean, sitting on just some monthly lows here that come on back to, uh, earlier in the year, I know that was in 2020. You had a low at 55. I don't know. It just seems like real quiet. Yeah. I mean, you're shortening it a whole lot. I don't know where it's going. I just doesn't look like it's going anywhere.

Mark Zuckerberg, like so many better. We haven't, we never look at Sony ever that one does trade on the U S we never talked about, I know we never talk about it. I don't know. It's kind of the same, I guess. Right. Um, okay. Um, reminder, Dennis, uh, your favorite company, we work is trading today as we work, not as the specs, w E.

Like the stock Dewey. I don't know. It's lifting up here at 10 38, the clothes do SPECT now. And obviously train up at 1155 here, getting a good left. LA I don't know, man. Office space, office space. I mean, I heard a Yale professor talking about, well, there's going to be a lot of subleasing and everything, but I don't know.

You hit 12 in the pre-market. So there's a potential target after that. We'll see how this trades we work. Boy, what a story that was, yeah. All right. Matt Miller dropped us a stupor chat and asked us about BBI. G I feel like in the name of the super chat, we should at least bring it up on the screen. We talked about that Miller, Matt Miller.

I would say this. If you missed it yesterday, we had a Ted Farnsworth on the power hour at 1215. I'll drop the link in the chat. We talked to him. He, he acknowledged that they shouldn't have dropped three sec filings and then a press release 12 hours after the fact that clarified the farm, they should have dropped that press release at the same time as the filings 'cause, I'm, I'm reading the filing and I don't follow the story.

And I just see it as a C, I just see the president CEO and CFO resigning. And I'm like, okay, that's the reason every algo did the same thing. Obviously it's trade down 25% algos. Don't dig into the details. They see that headline. They hit first ask questions later, algos aren't following story. So, and then people are asking me what's going on?

BB ID? I'm like, well, CEO, CFO resigned. That's what's going on. I tweeted that out. Everybody gave me hate. But I tell you, and obviously my tweet came while after I was already trained down. So was it, you know, it, they should have released it in a better way. Maybe the algos wouldn't have hammered it like that.

Does that mean I'm coming in and buying and stock here? I'm not going to give my opinion on the stock I've given up before, you know what it is. I'm not a fan, but, um, I don't, I don't know, you know, I don't follow the company close enough. I'm just not a fan of these stocks that are really pumped on social media trading range from five to nine.

You're kind of you're coming near the vibe of the trading range, three loads in that five area, that couple highs in the nine area going wide on that. Okay. Here's one we haven't looked at. I haven't looked at for a minute. Here it is. It's ticker. AI. Is that still making new lows every day or is it stopped going down?

Stop going down. And I will say some of these loved growth tech darlings of the last, you know, of the at least, you know, the first half of the year, you know, that have been absolutely hammered in the last three or four months. A lot of them have stopped going down at some of them have started to turn. I mean, Kathy would, ETF has come back down up substantially guys run for Kathy.

Those charts don't look that bad to me, either the arc that they want to come back from the lows. I mean, it maybe got oversold, obviously got oversold. We've been buying the dip on everything and people are hungry for growth. So those stocks are getting bought. So I don't know, you know, which one's kind of interesting to me is the Cathy wood and I'm not following the company closely, but the BLI is kind of interesting too, right?

Because we know Kathy's been buying that stock relentlessly, and we know it was attacked by who, whoever it was. One of the short companies attack. Remember they issued the report and the thing really got hammered on it. Uh, but you know what? It's, it's had a run and you're in four days of consolidation, I think it actually could be consolidation to move higher here too.

So if I was putting this trade on, I don't have it on right now. If I was putting it on, I'd stop myself out under the 2365 low and I'd have a target of about 30. So you set that up at 25, 6 2 to one, two to one risk reward. I liked three to one, a little bit better, but two to one is not bad. Again. See how I enter on my approach to swing trading.

As first I look at my. And then I look at, okay, well, if I'm risking this, how much do you know is the move here? Do I like this setup? I kind of do. I like the four days of consolidation, a lot of times, which is the happen stock has a big countermove then consolidation and then eventually continuation of the previous move.

And that's what I'm saying could happen in BLI it's a, Cathy would love to. All right. We were talking about AI and, um, 48 is the roadblock here for this stock. Uh, last two sessions, size 7, 9 47, 94, 48 0 5. You backed off there. Maybe what to get over the next couple of days is, you know, you just inch your way back up.

So you get a running started 48, like now it'd be, you know, 80 cents to get up to take out 48. First, she got to get green on the session. Not much volume is traded. I could see this turning over 48 and I'm coming back on the downside. I mean, you distanced yourself from yesterday or the two day low at 46.

So if you want to try and pick this up on the cheap 46, 80 was yesterday's low, but above 48, I could see the tide turning in and you're kind of running out of sellers here too. You had that first op month, second month was kind of ended, but they pounded it third month, fourth. And it's just kind of, you know, maybe you got everyone out of, you know, out there wants to be out.

Now. Maybe it's turned here, but thank you, Don and Jay for the alert, um, DWC is up to 12. Now this thing is trading with a ridiculous amount of volume this morning. Every 15 minute bracket has millions of shares. No millions of shares we've traded. I dunno how many million shows this morning? We've probably traded 20 million shares this morning.

Maybe it got down at 10 40, 10 50 was

down there like 10 50, 10 40. You get down there, like, you know, tens probably going to stop it. Like ten's probably a pretty solid bottom pre deal. So people look in, okay, I'll risk. 40 50 cents looked at the up, out here. Now they're ripping it higher again. Now you're getting farther away from it at 1220, like when we're talking about a 10 60 an hour, Um, we're 45 minutes ago.

It's a different story at 1225. Now you're 25% off of that hard bottom at $10. So, um, I don't know if I chased up here, it was a lot, much more attractive at 10 50, 10 60, I guess, that I was looking to buy in the low tens. I was maybe a little bit too greedy. It wasn't going to get that low. Um, from 25 million shares traded.

So

all that a lot. I mean, if you're looking for a little target here on, you know, I think what you now, you just have short term algorithm trading it for the body at 10 70, 10, 80 12, you know, salad into 12 handle. Rebuy it again at if it makes a higher, low, but 13. Maybe it's a target. So we'll see a DWC. Oh my goodness.

That's all right, guys, why don't you give us your final thoughts? I've got Peter him lurking in the background here. So give us your final thoughts as we, uh, wrap up the. Uh, just for me, let's go green on the session, right? We're down 8 75 old time closing high yesterday, 28 that coincides with, uh, the pre-market high and just a little bit of a rally here, but like to see us go greet on the session.

Pre-market low 10 of the quarter. Not much down there. Oh four was, yesterday's a lot of rotation again. I mean, I'm seeing some stocks screen, some stocks red. It's going to be the type of market where some stocks are getting hammered and other stocks are getting bought. We know some of the tech stocks have been loved.

Um, it's been an impressive move for the indices. I mean, we've had a lot of move. It's overextended. Now as a problem, I look at this S and P move. We're up like 5%. Seven trading sessions. So it's tough to think. Okay. Where's the next 5%. I think you need a dip. Now, if you're coming in and buying stocks now, I think you're late to the party.

I think you want to wait for the next step. I do still think we're hitting all time highs by the end of the year. We're not even at this time of bull, but when Spencer was calling it, the bandwagon, we were a lot lower. It's still buy the dip mentality is still out there. So you've got to use the opportunities.

There's a one point dip on spot dip. I don't know. Maybe it is now, but this market just is so strong. All right guys, have a go on. I'll catch you later. Uh, let's put on a Peter talk to me. It was, um, for the sec nub, the first time on this show, he is, he is been stuck in traffic. So he actually pulled over and hopped on a wifi.

To join us from his car. Peter. Good morning, sir. What's up? Benzinga nation. How you doing Spencer? You look great kid. Yeah, I'm feeling good. I I'll be back in the office on Monday and feeling, feeling solid. Going back to myself. Uh, how you doing? It's been a couple of weeks since we spoken. Uh, you know what I've been, I've been okay.

I am trying to just navigate through, you know, life is kind of crazy now you've experienced COVID. So I've been living with it for two years. It's quite a challenge, you know, I hope you don't end up suffering from long COVID stuff, but you know what, it just kind of puts everything in perspective. And, you know, as the world tries to reopen and, and you know, there's, everybody is sort of, I cannot presume what people are going through to get back to work thing, having been sick and all this other stuff.

So all we can do is fight a day at a time. Spencer, the market is surely giving us enough of an exciting landscape to get up every morning and talk about right. So let's talk about that. Things got a little bit shoppy there for a couple of weeks, but it looks like, as we just said by the dip seems to, it seems to always work it's cliche, but it's cliche for a reason.

So what is your take here? It looks like we've, we've come out of that volatility. You know what look where it's fascinating to watch. I love sort of having that wonderful paradox about what the market's doing, the information that's out there and then what the media loves to play on and how we've often talked about it.

One day does not make a market, right. We've seen the, you know, historically the market just goes up. That's what it's done for a hundred years. And obviously we've seen some pullbacks, but if you analyze pullbacks, right, you've got to realize that we've not seen a follow through on the pullback for quite a long time.

You know, there have been so many potential obstacles for this market, the volatility, the virus, the vaccine inflation, the federal reserve, tapering, the China story.

Sorry I'm here. Um, uh, you know, so many things that could've dislocated this bull rally, right? I mean, they're just as a plethora of things that could have really, uh, flourished or blossom into a really dark story. Even though the few of them only did affect the market. It was different short term and there was never any follow-through.

So, you know, um, the market is strong, like a bull. It's unbelievable. You know, and then it'll bring me to another fun story, but look, you know, we've, we did see some choppy waters for a couple of weeks and it was sort of one story, two stories. We never got that perfect storm day where it was just like, everything looks really dark.

Maybe we did for a day. But as I keep saying that there was no follow-through, there was a bid in the market. And I know Dennis was just saying, you know, is a, is, is a one point move down in the spy, a depth, you know, at this point it almost is because we've just seen not enough of what you'd call a normal dip or a pullback.

We've seen them small. But if you're not quick to that party, you missed it. We've seen those days where we're down a little bit and boom, you know, by 10 30, the market's reversing going up. And I know it wasn't even like this time, you had time though, this time you did have time. If you wanted to buy the dip, the question was the, the dips were being bought, but then the reps were being sold.

So it's like, it seems like. It seems like we've mostly come out of that. You know what, it's interesting to note, as I was saying, the media is fascinating. You know, they'll love to get on a dark story and they'll just pump it and pump it and pump it, you know? And um, so people really need to have conviction, right?

Look, it's, you know, when everyone is, eh, you know, you, you need to have a conviction that the market net net is going to go higher, that we are going to recover from the, the viruses that the economy is going to come out of. This, that tapering is not really going to dislocate a bull market, right. That inflation is here to stay.

We will adapt to it as markets always do. And you need to have a conviction that the is going to go higher. And that's what. You've got to say, okay, get your shopping list together when things do consolidate when they do pull back and, and, and, uh, and by, you know, that's from an investing point of view, we know, you know, we always talk about with wall street, global training academy, the technicals, the price action has been fascinating.

Right. And we always talk about the. Trade coming into earning season, right? Buying an anticipation of a projected earnings and guidance is dangerous. Look what happened with Netflix, right? They beat and the stocks traded up 50 bucks and down 50 bucks. And then the next day was down $6. So it's really important that these trades are crowded.

Everybody's in there. There's a, there's a new, and this is I'm going to segue into this story. But I think it's time. We really acknowledged that there's this massive new influx of retail traders in the marketplace. I'm hoping they will become your customers. And I hope they'll all, they, you know, that they, they follow me too.

But the bottom line is we can't raise, you know, whether it's the wall street, bets guys, the wall street, meme, skies, whoever they may be. Um, there is this generation phenomenon and movement of new people in this market and they are moving the market. We saw that happen with the meme stock phenomenon way back, and we are seeing them in the market.

The retail marketplace is extraordinary and full of new young traders. The problem being a lot of them don't have the education, the technicals and the fundamentals to trade this thing responsibly, but they're here, they're here. We're seeing it in this wild volatility of the ups Ts or the miRNAs, you know, or the meme stocks or whatever.

We are seeing this wild move on the up and down. So my new message is, you know what it's like, if you can't fight them, join them type of a thing. I think we need to, you know, you better fight this. There was an old cigarette commercial back in the seventies, you better fight this ride. Rather fight than switch.

At this point, I would rather embrace than fight it any longer, at least embrace this new community. And they will become the next generation of traders down the road. But I think it's our job, yours and mine. To share with them, our experience in the market, whatever education we can give them, you know, and, and go from there.

Yeah. And without trying to sound all holier than now, it is my genuine hope that them, the people that are, that have traded have been trading for the last year and a half or so, um, that they actually convert to become more investors, because that's what I believe in, uh, you know, like to my core, I believe that the long-term investing is the best and also easiest way for like the regular Schmo to, to make, to make money, to, to, to generate wealth long-term.

And, um, unfortunately it just, it just takes time, uh, is the only downside there, but, but, uh, Uh, that's my genuine belief. So Peter, speaking of earning season here, I guess, what is your, what are your initial impressions where we're really going to get like the heavy flow next week with all the big tech guys, but we got Tesla, we got Netflix, we got Snapchat tonight.

So just by and large, what do you make? Not so much of the numbers or maybe the numbers, but just the reaction to the earnings. You know what look, I mean, I know I just happened to just glaze by the number 86% of the S and P stocks that have reported have beat extraordinary, but we've seen that for a couple of earning seasons.

Now, as I often will talk about, you know, the, you know, they, they sort of curate the expectations of the numbers. So as not to disappoint, especially in, in a market and an economy, that's kind of potentially fragile, even though it keeps marching higher. You know, we are still in the midst of a situation where people are wearing masks.

A lot of people don't want to go back to work. And so there is that sketchiness of are we really recovering air things, getting back to normal? How are these companies really doing the retail space, the bank space and whatnot, you know, the world is starting to reopen people are, you know, and then we are up against the inflation story.

Is that going to be reflected in, um, uh, in this earning season? I don't think so. So, you know, it's a matter of, we, I think you need to look at the big. Of the picture right now, we're reacting to the earnings that are coming out as to a sort of a Slingshot of this reopening story. And we're seeing that reflected in these solid solid numbers, uh, to isolate one or the other.

As I said, though, I need people to really take heed that we're seeing companies really. Blowout earnings yet the stocks go down and that is a function of a very crowded trade. That is a function of a lot of people without really knowledge of how to trade these things going forward, that maybe they were lucky enough to get long and they're just blowing it out or they're hitting, hitting buttons that without sort of a lot of, uh, of, uh, of experience or just a very crowded trade, there's a lot of options stuff going on there.

People trading, you know, that is one of the safest ways to trade a pre earnings release game without getting yourself blown out is to trade it on the option side. Right? So, uh, and then you're seeing whatever happens in equities around that. I think we got to touch on the fact that this crypto market is out of control.

I think that's incredibly exciting and it's been something I've resisted to get involved in. I don't get involved in it personally, but it's fascinating to watch either. Come on. There was no excuse. Now you have a futures ETF. There is no excuse. Well, I now have my own ETF, my own NFT coming up. Look, the bid, the Beto ETF is extraordinary.

I really think that puts a whole added, like a legitimacy to this thing. It is being traded on the floor of the New York stock exchange. I posted the other yesterday two days ago, I posted a picture of the signage on the floor of the stock exchange a bit. Oh, the new Bitcoin ETF. And it got 6,000 views.

Well, I didn't talk about it. I didn't do anything. All it was was just the signage on the floor. So obviously everyone's super excited. It does give it some crazy legitimacy. Yeah. I'm pulling up the stat right now, but I'm pretty sure. Um, It's already over a billion dollars in assets. And it's been two days.

It's been two days. This thing is taken in a billion dollars. It's absolute madness. That's that's a record in case you're wondering the GLD. Uh, what, why is the record holder? But it's, I mean, there's so much demand. Um, oh fuck it. Do want to get exposure to the, to the crypto space and you can't afford 66 hours for some Bitcoin $41 is a reasonable number to get involved and get exposure to it.

That is the wonders of the ETF market. Right. And they've been trading now for two days. Volumes been what? 20 million plus every day is now what the volume daily volume is. Yeah. Yeah. Here I'll look it up. Actually. It's wild. Wow. Let's say a volume on day one was 24 or call it 24 and a half million volume on day two called we'll round up 30 million.

That's insane. Yeah. Extraordinary is a great word. It's what it is. And it just shows that there is clearly a ton of demand out there. So Peter telecommute is the Einstein of wall street. Joining us live from his car somewhere in downtown Manhattan, the links to his, uh, his Twitter, his trading academy, or in the description of this video.

Uh, Peter always applied to. Great Spencer, can I get one quick shout out to, um, so everybody should check this out. It's going to be launching in the next 48 hours. Uh, it's part of the wall street memes, uh, community. And that is in the hundreds of thousands. They Iran launching 10,000 NFTs. I want everyone to get on board this thing and check it out.

10,000 NFTs called the bulls of wall street. Go to the wall street memes page. It's already a pre-sale. There may be a few books. But it's going to be super, super fun. There's going to be some celebrity bulls in there. It's kind of like a Pokemon thing. These are these generative NFTs that are going to be all wall street balls.

Each one will be different. There's going to be a, a, a, a Nancy BOLO seed is going to be a, um, a Jew, a Jack Dorsey bowl, and there's going to be an Einstein and wall street ball. And they're going to be 10,000 of them. They're going to be open on, back on open, see in the next couple of weeks when they actually launch out, but everyone should check it out.

It's sort of a fun exposure to the space. These guys have done the homework. The protocol is, is really spectacularly done, and it may be something people have fun with. So. Well, I think until the NFT game, if you got to put them like this, you got to get into the NFD space. Spencer, you gotta, I guess, what am I doing here, Peter?

Always a pleasure, sir. Have a good rest of your day. Good luck. All right. Hey, I want to hop off here. It's nine 13. We're going to do a live trading, uh, right now actually w when, when this show ends, we're going to, I'm going to redirect straight to that stream. We'll start it off in a minute or so. And we're just gonna hang out and we were going to bring on Chris catchy to talk about, uh, there's, there's going to be no spec stock today, which is kind of sad, cause it's not as bad news.

So we'll bring Chris on, um, during the show coming up next to just talk about, you know, all this back stuff and, and I mean the volume this morning in, in, uh, UWC is, is pretty wild. Um, didn't see a huge volume take up at nine. I would've thought you wouldn't. Cause that's when Robin hood opens up, but saw some increase, but not as big as I would've thought.

Anyway, it's traded 25, 30 million shares this morning, so wild stuff here. So, um, stay to stay with us. Well, I've trading myself is you need Ryan. Uh, Chris catcher would join us. Tony Benson would join us. We'll have fun. We're hanging out. Um, smash that like button, please. And thank you. And please remember that all the information from our show is meant to be used as informational purposes, not for investing or trading advice.

Thanks to Peter. Think 70 in our chat, the chat you guys definitely did a good job of like reigning yourself. Right. Uh, I know the first few minutes were a bit touch and go. If people were just bobbing political bombs left and right. But we were able to, we moved past it together and I think we all did a good job.

So, um, stay with us, live training, starting with few minutes, I'm going to hop off everyone. Good luck, uh, with your day and I'll see you on the next show.

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