Bull Trap Market; Airlines Downgraded

Introduction To Professional Trading #2: Trading From Relationships

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Episode Summary:

• Markets Continue To Be Choppy
• PALANTIR Shares Rise 13% in Tuesday’s After Hours Session
• Constellation Brands Misses On EPS; Beats On Sales
• Charlie Munger Has Increased His BABA Stake By 82% Since July
• Goldman Sachs Downgrades Airlines On Rising Fuel Costs

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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

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

Coming to you live from downtown Detroit. This has been Zingas pre-market prep with your host Joel Kahn. And this is a vowel tile property here. Isn't it. And Dennis stick, I've been the petty. I will buy the stock for a Peck with everything that you need to start your trading day.

good morning. Good morning everybody. We had some, the technical snafoos today. I will explain why in a second. Welcome to pre-market prep. I'm Spencer. You can tell by my beautiful mug. There's Dennis there's Joel. Uh, first I will turn my camera on for a moment, so you can see, uh, that I I'm home right now.

The problem is my, my. CUNY home computer can't really handle short with the camera. So I'm home. The reason I'm home and not at the office is because drum roll, please. I have COVID. So I've been diagnosed confirmed two times with, uh COVID-19. So for the next 10 days, actually, um, eight days, cause it's from the starting of symptoms, which for me were Monday.

Um, I will be confined to my, to my house, my apartment, and I'll be stuck here. Uh, and that's the situation. So we're going to roll with the punches for the next week or so, because I'm going to be here right now. I'm working off of a laptop with two screens. Um, we're going to, we're going to do our best to Joel and Dennis and Mitch.

We're all going to power through. I am feeling okay. I've you know, you've probably heard me. What are your symptoms? What are your symptoms? Well, I've got this, uh, little nagging cough, which you'll probably hear, which I've, uh, I've had to, I've had this since Monday. Um, I'm congested, which, um, you can maybe also hear though, I, I do feel noticeably better today than I was yesterday, yesterday to not feel great.

Um, in hindsight, shouldn't have gone to the office and that's something that I will have to live with. Uh, but I do have never have not a fever. I have not had any breathing problems. Um, and I, and I have asthma, which is so that's concerning. Uh, but no, just the, just the cough and the congestion, some sinus pressure and a little bit of neck pain, which when I was at the urgent care yesterday, the second one, because I went to, to, uh, the second one, she said, yeah, neck pain is a common thing with.

The Delta variant apparently. Um, so here, here's what she said yesterday. Uh, when w when we got there. So I, I went and I got a COVID test yesterday, Alec nude, and it came back positive. I have like three o'clock, three 30, and I was like, ah, I'm looking at another one just to be safe. So I want to get a second one.

And when I went to the second place, uh, we told them, you know, it was me and Arielle, my fiance, and, uh, we were both at, to get tested and I got the Johnson, Johnson, she got the Madrona and the doctor said, oh, but , that's great. I've only seen one breakthrough case with a return, a vaccine. Well, what do you know now?

She seemed to know. So, and then she said, she, she said, uh, she asked what I got Pfizer modernize. Neither. I got Johnson Johnson, and she went, Ooh, that's interesting. And I went, wait, why is that interesting? And so, but basically she just, hadn't seen a lot of Johnson, Johnson vaccines. Um, but she was like, yeah, you probably have COVID right off the bat.

Uh, but anyway, so she'd only seen one, one of my during a breakthrough case. Uh, and before yesterday, now she seemed to, so that that's the story morning glory. And, uh, how's, how's there. She's fine. She has her only symptom is starting this morning. She's a little bit congested, but she had nothing yesterday, nothing the day before.

Uh, we don't know where we got it and like that, but, uh, we will be staying home for the next 10 days. And, um, I can't really see the chat right now, cause I don't have this green space. So thank you. I want you to feel better. Okay. Thank you to everyone. I assume. You're all saying nice things. And again, I turned my camera on just to show you that I am alive and well, but my computer literally can't handle the camera right now.

Um, so that's the story. Did you, uh, have you guys been eating out in restaurants at all? Uh, we do do. We do do that. Yes. Yeah. So it's possible. I got it from there. We saw some of her family over the weekend. Bam could have been in the office for all. I know. I, I don't know. I don't know. Can I ask you one question?

You can put COVID on my birthday. Well, in your birthday, my birthday dinner, I apologize. Um, I didn't technically didn't get it on your birthday. I just gotta die on your birthday. Yep. So if you were, you know, uh, planning on going to New York next week to see me, I may or may not be there. My core, my core team does end, um, Wednesday night slash Thursday morning.

Um, so TBD on whether I'll be there. But, um, that's next week, but again, again, I wish I could see that, you know what? I can bring up that I got one question coming from the chat. Yeah. Regeneron what's up Spencer. Oh. So I, I am going to get at, at Lisa's, uh, behest. I'm going to get, uh, the monoclonal antibody, uh, treatment today because I qualify for asthma because I have asthma.

She does not, she has no pre-existing conditions. So I don't know if she can qualify, um, to get it. You call you already called. I know I want it. I have to call them after we have to put on my, my computer may maybe, uh, doing some weird things right now, but I'm trying to, I'm trying to pull up the chat with very limited screen space.

So anyway, that's the story. That's why the show got off to a slow start. That's why my camera's not on, um, uh, there's my computer being weird again. Okay. Well, we're glad you're feeling a good Spencer. Your sound, obviously it seems like the vaccines are somewhat working for you guys because you guys, neither of you are very sick so far.

Yeah, definitely. I mean, that, that was a concern of mine. The entire time is I have to be preexisting in one condition and this is a lung disease, but I have no breathing problems. I have no wheezing, none of that. So I'm feeling like pretty encouraged. Um, so yeah, that's basically the story. Um, that being said let's uh, yeah, David, don't worry.

Okay. I can see the chat that David I'm going to get some equipment today. I hope from the office, so I will be better equipped. Hey Spencer, if you, uh, if you need any. You know, I mean, now I can go get it on your doorstep. I thought you were going to say call it dentist. No, no. I was going to say Kali's but she's got a busy day.

Appreciate it. So let me know, let me know if you guys appreciate it. Appreciate it. Thank you. All right. Thank you everyone. Have the chat. Let's get, let's get to the markets here. Um, boil, boil boy down 42 and a quarter handles 42 91 75. I'll say the market talk for when triple D comes on here in a minute.

Wow crew down 65 cents 78, 28 gold down to 20 17 58 50 silver, the red by 20 cents at 2241 Bitcoin 52 handled 52 K uh, 52, 1 10 up four 80 Ethereum golden. The other way down 3%. Um, Hmm. Well, I would keep an eye on that Bitcoin bowls. Uh, cause that's been the leader that's done 110 bucks or 34 14. I'm going to bring up the S and P chart here.

And, um, we had a couple of inside days and we have a trading range and Mitch and I were on at 3 30, 3 40 yesterday. And I was just talking about, wow, all these highs in the same area and all these lows in the same area. And, uh, it looked like we were just, you know, it looked okay. And then late in the day, man, someone came in with their solid shoes on and they haven't let up.

So. Dennis wrote, I guess, read dumb, you know, dot up 40 handles. You sell it down. 40 handles you buy it. I just don't know how long I think this time, I don't think we're going to get the, is back up to that 40 to 43 60 area. I think it's, this is a really interesting day because the market has been knocked down and it's come back.

And this is, this could be really like the F this is the fourth try. So support is support until it's broken and we've been in a trading range, but man, oh man, what a, what a choppy start to the quarter. Okay. I mean, you look at that chart though, and it's very clear. That range was very clear and you have, it is not paid to chase any move.

We're going to say it again. This we've been saying this for a month. Even months, we've been saying this for two, three months. It's been fade, trade market, the constrain market, the selling of the reps, the buying of the depths. If you're buying the reps and selling the dips, you are losing money to the people who are doing it the right way.

So, I mean this last four or five days is just a perfect example of what this market has been for a long time that you know, the market with no memory, we go up 50 down 50. So we look at the last four days down, 60 handles up 60 handles down 60 candles up 50, 60 handles today down 50 handles. I mean, the trend is your friend and the trend right now is no trend.

The trend is just fade everything. So, I mean, am I coming in and buying some stocks today? Probably. Am I putting anything in my long-term portfolio now? Because I'm nervous about this market overall to Joel, but as. I'm still buying depths, solid reps until further notice. Yeah. Actually we didn't even get to those lows.

One thing that I was like, you know, we have just a great, great guest on, and it's always great having Ryan on because my man does his homework and he showed us that one chart, you know, where after every 5% correction where the market has been in six months. Right. And, um, it's pretty bullish. I mean, what did he showed us in that chart?

And then I asked him, I'm like, well, are any of those times, is the market coming off a double and in 18 months? And he said, no. And I, that to me, I mean, just I'm looking at this monthly chart and it just looks like we got a couple more red candles, common. I mean, we just, you know, if we hold flat, it's fine.

But one red. Usually begets another red candle. We haven't had that in so long. So I'm, uh, you know, I was on the edge on Monday. We went down Tuesday, we battled back now, boom, knock us down again. I mean, I don't know how many times we can hit this floor and bounced, but as we speak, we're 17 handles off the low.

So let's, you know, go with what has been happening instead of constantly trying to predict. And right now with the information you have, and this information is that we're just chopping around. But I will tell you, there's not a lot of places to hide here this morning. So looking to my trusty S and P filter here, I see Biogen trading higher.

I see Zynga. I don't know if it's in the S and P, but I have some of my select stocks and they're just, I shouldn't say S and P filter. I had a thousand stocks in this filter. It's all slot mid caps and mega caps, and there's literally three stocks trading higher. And I can give you the, to me right now, they were Biogen Teva and.

Out of 1000 stocks, 1000 there's three that are trading higher. So, um, obviously you go, there's more stocks than that. These are just, you know, the, the may calves I'm looking at. And I shouldn't say these are bid higher because my stop, my filter is looking at bids. So there may be a tr outside trade where something traded higher.

Like for instance, at WY tick tire, it's not bid higher though. So it was probably just somebody like, oops, I just bought the thing flat and probably gonna lose money. So I don't know no place to hide here today. Know, we've been talking about gold as a head and you know, and how it has not been working again, it doesn't work.

You know, you get the market significant sell off. This happened three years ago, gold, drip and higher, not in this market. Gold is that kind of goes with the flow too, and just cannot seem to catch it rally. And like, we've been saying, if it doesn't want to go up in this inflationary environment, when is it going to be.

So it doesn't play defense. It doesn't, you know, go up and inflation. I don't know why to own it then unless it's going to be a Johnny come lately, catch up trade here where all money managers are looking for a home, but it's been difficult, uh, to be long and bullish gold too. Cause it's just going down with the overall market as well.

I don't know what to say. I, a part of me wants to go buy stocks like in the long-term portfolio, because there is some stocks that we do. Like there is some stocks that are getting fairly cheap, but it seems like every time I stick something in the longterm portfolio, three days later, I'm not happy that I did that exact opposite of 2020.

It sticks something in your long-term portfolio. Three days later. You're happy that you did that. So it's tricky. I mean, what are you looking at? Joel? Are you looking at buying anything or you're just paying off here right now? No, right now, I mean a weakness we're supposed to be looking for buying opportunities.

We do believe that Spencer could be correct with his analysis. That would make new highs. We're going to want to add a few stocks. I really, I, I kind of want to buy Bob. Again, I want to try, I have Bob in the longterm portfolio. I kind of want to buy it for a swing trade, but the simple reason is that it wanted to go up yesterday and now the market knocks it back down.

You have the level of lean out 1 38, 43, but then I think, okay, well overnight risk is significant, always in China. You know, we, all of a sudden we don't know where Jack ma is or some bad headline comes in. It falls 10 bucks in your face, but I mean, it kind of wanted to go up yesterday. It was its first healthy candle closed, fairly strong.

And then the market knocks it back down. Same thing with Nike, Nike, like you were saying, Joel got a rating yesterday, a buy rating. It was trading higher looking good. And art market knocks it back down. So those were two stocks that kind of wanted to go higher that are getting knocked back down by the overall market.

And that's what I'm looking, you know, as trading opportunities. I look for what was strong yesterday and if I'm buying the dip, I want to, I that's, the strength usually goes back into those stocks. Another one is general motors, very strong yesterday, strong after hours yesterday. Um, they do have their investors day coming up.

I think it's, I think it's this week. If it's not do you know Spencer in the background while it's a multi-day event? I think tomorrow's the big day tomorrow. So we have an event or. But again, if the archeologist, you know, continues to puke you this morning, obviously that's going to work. So a lot of times what I do and I'll talk about this on October 16th is if I think there's an event where a stock, you know, might run up into it.

What I do is I buy the stock and the short, you know, the equivalent of beta hedge spy against it, because then, you know, I'm protecting myself in the event that the market continues to sell off to a certain extent. So that's how I trade market neutral. So trying to extract the clean alpha from the event run-up and if you did that overnight on general motors, you were actually making money because GM's only down 0.2, 4%.

And the spies down 1.1%, they were also talking up on fast money last night, which helped. So there is some stocks that I'm interested in. Um, but again, you know, you're in a market environment that there's a hell of a lot of uncertainty and a lot of risks. So keep that in mind. They're blaming. Yeah. I mean, it's still the inflation story again and, uh, And they're right.

I mean, it is, everything's the inflate. Everything is the inflation problem, really, to a certain extent. I mean, yeah, we have a COVID we have a pandemic, we have a lot of other issues happening, but there's a serious inflation problem. And it is getting talked about on CNBC 25 times a day. So there is no doubt that everybody, you know, has been notified that, Hey, we've got some inflation going on and you're seeing it, you know, hostess going up on their bags of chips.

I mean, there is inflation everywhere. The natural inflation defense has commodities. So commodities have performed fairly well besides gold, but you've seen oil strong. You seen, you know, and I was buying some steel stocks. That's something else that would be buying on the pullback today. I mean, Cleveland cliffs is catching an upgrade from Goldman Sachs this morning.

I own Cleveland cliffs. It's in the long-term portfolio. Put it back in there at 19 and a half. Lots of lows down there you get in the low twenties. I don't mind it here. If we're going into this big bear sell off, everything's going to be. I'm not a full believer. I don't have that information yet, so I still want to own some stock.

So yes, I am still looking at commodities, buying those docs on pullbacks, not oil because I hate oil. Um, I think it also just, I mean, it's, it's look where we're at in, in relay. I'm going to go to the cash index here. I mean, for the most part, I mean, we're, we're at all time highs. I mean, what we're, you know, now like 250 handles off it, but still, I mean, if you've been investing, forget about this run up here, but for all these years, I mean, you know, he can't, I know he can't take profits long-term portfolio.

No, Joel, tell me where I turned around and I sell all my stocks. What am I investing in the real estate market, which I do invest in real estate is a bigger bubble than the stock market. In most places, it's not. You know, the houses around me are in Ontario. So where I live, housing prices apparently went up 32% year over year and they went up 32% by now.

If I go to cash, I lose to inflation. If I go into bonds, a picking up like, okay, I can go into preferred stocks and get 6%, you know, in a couple of preferred stocks, which I do own. But then again, you know, and bridge was, she was featured last night on mad money. I own that too. You've got a 6% dividend, pretty nice utility stock.

I don't mind that. But at the same time, you're not doing very much better than inflation right now. Cause we're running five, 6%. So, you know, yes, they can say we're running 2%, but that's BS. We're actually probably running significantly hotter than that. So I mean the only place where, you know, you think you're going to be probably keeping up at least is to own physical assets.

You know, that's why I was saying commodities maybe, but it's very difficult to come in here and just sell all your stocks and move to cash in an inflationary environment. Clean chess jumped again, here. We're up at Gino. Well, there you go. That's an inflation trade too, though. So Bitcoin is an inflation hedge.

You know, we don't know if Bitcoin, you know, fundamentals, values, you know, and intrinsic value. There really isn't much there it's, it's got value because everybody else deems it has value, but I own a little bit of Bitcoin, a little bit more theorem because the utility, but those are inflation hedges as well that at least people are playing them as inflation hedges.

Are they going to work in the long run? It depends. You know, if this Bitcoin thing continues to catch up, but you know, I went into, into, uh, the local Canadian tire. People can make fun of me there. Uh, I was getting my brakes, uh, uh, getting my brakes changed. And in the background, there's two people, you know, at the Canadian tire workers and they were talking about.

I mean, the one guy is like saying, oh yeah, I bought some Bitcoin. I mean, so th th you can interpret that in two ways is, you know, main street, you know, the late to the party, and they're just buying Bitcoin now. And this is the top, or is it starting to catch on that other people are coming in and Bitcoin starting to go mainstream, where everybody's starting to hear about Bitcoin and is interested, you know, and maybe if they're interested, they're going to start buying as well.

So it used to be just pockets of, you know, that people, you would go out if you went two years ago and went on the street and asked a random person about Bitcoin, they wouldn't know anything about it. And they've even heard of it. That's not the case anymore. So Bitcoin has been heard of by most people. I think if you go to a random person on the street, I think 90% of people are going to at least heard of Bitcoin.

I bet. And I'm being conservative. I think when I say 90%. So, you know, there's a number of ways to interpret that, but we talked about Bitcoin two and a half years ago on this show, and we kind of, you know, and we had James angel on the show and we thought it might just fizzle out eventually, which it kind of.

But you know what? It came back. Didn't go away. It didn't go away. Didn't go away. And it's been too long now for, in my opinion, to just think it's going to fizzle out. So does it end in a fiery crash? It might, but that's why I'm just putting speculative capital on it. But you know, what, if people believe in this and you know, we're getting other countries adopting it now, I mean, there's a, there's a bull case there.

And you know, I'm somewhat of a believer. I hated Bitcoin forever. We know on this show, I turned around and got bullish at 10,000 and that's when I turned around, I didn't buy it. Then I should have bought it. Then I ended up buying it at 17,000. So I don't know I'm sticking with it. I isn't inflation to help that too.

So commodities crypto helps to a certain extent, but they are risk assets and all these things are risk assets. And if you were thinking an impending crash is coming, you don't want to own anything except cash. I don't know if the crash is coming, which is why I stay invested. I don't think there's a crash.

How'd you say there'd be a, you know, there doesn't always have to be crashes there. You know, there just could be, you know, orderly sell offs. And I think that's more likely for the, at least for the remainder of the year. I think also looming, you know, you say don't fight the fed don't fight the fed. Well, you know, the fat raise may be going up.

So if you're going to go with that, then, you know, maybe it's time. I, but like you said, Dennis, you know, where do you go? Where do you hide? There's nowhere to hide. Uh, you, you've got to go into risk assets, cause we're going into commodities. You're going into crypto. Those are risk assets. You're not going to make any money going into, you know, and if you think bonds are safe, if you think that TLT is safe, I'm going to say it here again.

I believe then I said this on the show at 1 51, I believe that TLT is going to eventually be under that low of the year, 1 33. I would not be surprised that the TLT. Is loses, you know, 20, 25% from here, I think. And if you're looking at that, then you want to be, if you think the TLT is going to get weakened that much, you want to be long banks.

You know, banks are not expensive. They've run, they've been hiding. I mean, if we look at anything that is performing in this market, it happened at banks, JP Morgan made new all time highs. Two days ago, the banks have been performing. So if you go back to your basic economics courses here, it is working. Um, you know, where interest rates impact, you know, the high banks want higher rates.

There is no doubt that they want higher rates and you know what? I think they're going to get them because you know, the market, the fed can control low and the fed isn't coming and raising rates, we're not saying rates are going to four or five, six, 7%, but the third ticking higher and they are taking higher and you're seeing it in the bonds.

So I don't want to own anybody. Uh, I don't want to any treasuries at one and a half percent. I mean, I'm losing guaranteed to inflation. I think I'm going to lose on my capital as well. Cause I think those bond prices are going lower. Hey, here's some perspective for you? Uh, this day, I think it was in 1978, Paul Volcker raised interest rates to 12%.

So there, uh, also what year was that? To 12% or 12% from where they were, I think no, up to 12% out of here. The 78 on 78. Yeah. Yeah. And then. Yeah. Uh, and then the next guy I want to say is I'm with Paul 80 or the chat. I'm not convinced the queen is a great hedge, but anyway, let's, we are not, and we are not calling Bitcoin a hedge.

We are saying it helps with inflation. It is a risk asset. So don't think because the market crashes, the stock market crashes, that you're safe in Bitcoin. If the stock market crashes, Bitcoin will crash to there, this, this correlation we have, we've told you on the show for the last couple of years, Bitcoin is correlated with his overall market.

At least in the last year you're seeing when the market's UPIC usually pick lines up, but yes, you get days like today where Bitcoin's up and the market's down. But overall, if you put those two charts on top of each other, you can see there's a clear correlation, at least right now because Bitcoin and crypto is risk assets and they're all being grouped.

You know, money is moving in. Money's moving. But I mean, on a day like this, you know, it's interesting that crypto is higher because like I said, I was struggling to find a stock that is higher. So crypto higher today is that good news for the market? Joel, does that mean this market bounces back once again?

I mean, we have come significantly off the lows already. We're up 20 handles since I woke up this morning, again, the buy the dipper say, well, I see the pattern that's here we go up 60, down 60 I'm 60 down, 60, up 60 down 60 I'm buying when we're down 60, you know, what, if you were buying when we're down 60 or only down 30, you just made 25 points.

So it's. Yeah, it's, uh, I mean, there's, the cash was, is, is it really, you know, maybe we'll get this. I mean, let's see, we've had, uh, we're working on her fourth inside day in a row. Wow. I mean that I'm using the global X ranges folks. So when I use it a low back range, that's what you got. So maybe we'll just calm down me will just be the battle of 4,300 here.

And, uh, you know, I'd rather, I want the rages to calm down. That was one thing I said on Monday. The one thing that concerned me was the big ranges and that's what we had in March and April. We had 200, 250 point ranges and then the count down it calmed down, it came down and then, you know, just a couple months ago when we were going, you know, it was like the stair-step, the range is probably got down to 30, 35 and now they're back over 70.

So let's say. How down and let's have the market calm down, hold these. I mean, it's a quad low right now to me. I don't care if you want, you know, if they're not the exact number, I think this blood in this kind of market, you know, 10 handles is kind of like a, just a blink. So let's hold, I'd feel a heck of a lot better if we could break out of that top of that blue line that I had there.

And if we, if we take out the bottom, I think we have a quit date with the quarterly low and that's 42 14. So there's a setup. Let's just have the market calm down. But there, there is one stock that stopped today and every time they get a contract Palentier trading up sharply higher Spencer, why don't you give us what it was, where it was last night, where it was last.

Yes, it is. So this is honestly, it's more of the same. It's, it's always with them a new contract and that's been the whole yesterday. They announced it in $123 million contract with, um, uh, for intelligence data, uh, w with, with the, with the us military, uh, It's always a contract headline with them. I feel like, yeah, it is.

And you know what? The story continues here. As traders, we just have to recognize patterns. The pattern has been to sell the reps every time there's a 20 15, 10, 15% rip and pound here. It's been a selling opportunity and we were ripping up and we, and obviously can blame the market to a certain extent here.

But we at 26 and a half last night, we have already given back half of the gain. Now, are we going back flat? I highly doubt it. Is this a stock code by, on the pullback for the day trade at 24, you probably get the old resistance becomes new support for the last two days Trek. So, you know, as a day trade, maybe.

Um, but it's tough when you're buying stocks last night, like people come and go the old Pelletier it's up 15%. It's going up 30%. It's not, this is not the way this market is working. This market is working when it goes up to 15%, it eventually comes back down. We've been talking about this trend. So if you're buying it last night, up 15%, you're definitely not listening to pre-market prep because we're not buying the reps.

We're selling the reps. Now, is this a rip here this morning was up seven. No, it's already given half of it back. So it's not ripped as much now. So, you know, maybe get down, like I said, the lower 24 is maybe there actually is a buying opportunity as it go back. You know, if we get a rebound, the market, get back up to 26 day.

It could, but again, just follow the patterns and if you're chasing stock price here, you are doing it backwards. It's been working that way for months. Wow. Two bucks off the high. I mean, someone just caught the news and they just started Bennett Bennett. They did it, they took it to the, uh, ad that this is where the, uh, after our session right up at the top.

And then someone just came in at 4:00 AM and said, well, Hey, you know, looked at it on a market perspective. And if you took this thing home and it closed on the low of the session, you get a look at 26 and they just started whacking it. So the top of yesterday's range, I don't think, I don't know if we're going to get that low today.

That that comes in just under 24. I don't peer you have some risks, but you never know. You could use get a quick seller off the open and they push it down. But that 24, 23 88 was a high of the yesterday and then 24, the other day. So old resistance, new support. If it gets done. Let's go to the one we do CEI.

Oh, I didn't know if you want to talk about this or not. I guess it's a good story. I mean, it's a great lesson. It's a great lesson. It's a great lesson. Yeah. So CGI, uh, uh, basically yesterday there was a short report out. Was it, was it screwed? Was it spruce point? I don't remember exactly who the, uh, regardless if you've been following the stock, you've been following it on social media.

It's been a darling of, uh, excuse me, Zack, Zack Morris. Who's been pumping this one for awhile. Um, and it's a great lesson in knowing why you own something. Right. And if the only reason you own something it's because somebody else said, so then that's not a great reason. And also know when to take profits.

Cause this thing went. $5. I mean, we see these stocks get hot on social media, discord, Reddit, Twitter, and you know, and we see it coming to our chat and people can't stop talking about like, I, you know, when you go take your time, the hot stock of the day is literally the one that everybody wants to talk about the most.

But these smaller companies that are getting pumped are getting talked about a lot on Twitter, you know, and a lot on Reddit or discord or whatever the social media platform is. A lot of times are just, you know, getting talked up and obviously they pulled the rug out from under this thing yesterday, spruce point dead.

And it got hammered. You had all the short term traders that were, you know, flying in this. So, you know, you can trade anything and he can come this stuff. Some of these are good little momentum trades. You get on them early, you know, they can continue to go, but you know, you just gotta be careful and Spencer's making a great point, you know, just blindly buying somebody because somebody on social media told you to do it is, you know, you got to do your own homework.

You gotta do your own deal at due diligence. I mean, a lot of these stocks and we've looked at these Reddit stocks before, and we've looked at a lot of these ones from discord before where it seems like they get the big pop that. Like AHT was another one to this thing and obviously did the reverse split.

But this thing, you know, went from, you know, I think it did the one for 10 reverse split. So it's hard to tell on the charts, but it was like 18 all the way up to 70 is $14. It seems like eventually they go back to where they came from. So you've just gotta be careful, blindly chasing these things. You don't want to get whole, I mean, was another one that everybody was talking about $2 to $12.

Great move. I mean, there was some big money made in there, but you know what, at the end of the day, that's big money being lost now. And it seems like when the dust settles on a lot of these stocks that a lot of these companies, especially the ones that they're, oh, it's a high, short interest. You got to buy it.

The reason a lot of these smaller companies have high, short interest is because they're not very good companies that they're not doing stuff exactly. You know? And there are a lot of, these are actually companies that are on the verge of. So when you're jumping in, because something just has a high, short interest and you think it's the next AMC or GME?

A lot of times they don't work out that way. I mean, bed bath and beyond same thing, everybody jumping back in high, short interest doc, you know, and they were moving and there was trades in there, you know, 30 to 53 it's back down to $14 and 68 cents here now. So all I'm saying is don't get caught holding the bag.

If you want to play the momentum, play the momentum. But when the trend breaks, when you start to see the stocks there to leak and make new lows, it is absolutely time to go. We've talked about that wish stock. It goes down every day, almost new, all time low again for wish this morning. So these are stocks.

Everybody was saying, oh, it's going to $69. I saw it on my, I see it in my Twitter stream. I don't even follow any of these, but it's just in there because there's so many people talking about. Eventually the talk cools and a lot of these stocks are, you know, just, you know, they're, they're, they're, they're being talked up and eventually when the talk and slows down a little bit, and the buzz starts to fade, there's not any new buyers to come in.

And then the stock prices start to go down. And this one, uh, you know, I had not been looking at it, but, you know, you had the run-up you had just a great 1, 2, 3, 4, 5 day run kind of closed, you know, on the big day. I also look at that, like, it got the 4 85, but where did it close that day? It closed at 3 42.

So that was a buck 50 off the high. Then you had an inside day in a red candle. I mean, you know, the green candles are fine, but that should be the first warning sign. And then we can see what happened after that. Of course the short report. Got it. But, uh, that's enough. That's enough unseen the express point.

You can hate them for this. And is it, you know, the question is, is it manipulate. To come out with a short report when you're short and you know, you're coming out with these short reports. I mean, all of this is just gray in my opinion. And some of it not even gray, you know, like I don't like the fact. And I think that the sec does need to crack down on some of this stuff that somebody can load up a position either long or short and then completely talk their buck again and again and again, in social media and then dump into it or in case they know if it's, I don't know if Bruce point was covering yesterday.

I'm not sure you know, what the situation is, but they're definitely influential. And you know, they come out with a short report and they are short the stock, they say they're short the stock and the stock falls 50, 60. Are they covering into their own report? I mean, they're the catalyst. And then they're using that catalyst to get out.

Is that the definition of manipulation? Um, I think some people would say, I think some people would say it is I'm going to not, I'm not a regulator, it's not my place, but I think regulators are going to look at this type of stuff. I think they're going to look at social media platforms and these social media influencers.

And I think if they are looking at social media influencers, they need to look at stuff like spruce point as well, and make sure that, Hey, this is legitimate research and I'm spruce point. I'm not saying anything. I'm just using them as an example here. But I think, you know, like if you're coming out and you're covering into your own catalyst, I would have a problem with that.

If I was a regulator, I think the regulators should have a problem with that. If they're putting on a short and they're holding. And I think that Tron usually would help hold their shorts for a long time, if they're coming out and their voice and their permanent freedom of speech and they're holding it for months and they think it's a zero, that's a completely different story.

But if you're coming out with an open. And you're put out the short report and then you cover it that day in that catalyst. That's where I would have a problem. So I don't know, spruce point covered yesterday. Hopefully they didn't, but I wouldn't have a problem if that's what they were doing. Yeah. It's a good lesson.

It's a great lesson. Right? And in owning this stuff, the lesson is a lot of this stuff. Like you can't just buy a stock and throw it in your long-term portfolio because it has high short interest because you know what, when you go back and they look at all these high short interest stocks, and we could do that as an exercise, all of these assaults have come down a long ways.

A lot of these shorts ended up being right. Yeah. That's not really what they, this wasn't a short interesting, but it was a social media thing. And, and yeah. What did they say? Did you actually, I didn't even look, go through this Bruce point report. Did they, did they talk about how it's been talked about on social media?

Even for them seemed especially giddy about this one. They called it their best opportunities in since. What was her price target? Uh, probably zero. Yeah. So, yeah. And, and you know, what, if they're going to try to hold to zero, you know, and they're doing that, you know, that's them, I don't, like I said, I don't think like, what's your opinion.

I think if you want to come out and give your opinion and you want to be sure to stock, I think there should be some rules that you can't cover that day or the next day. I think you should have like a, almost like a, you know, a lockup period on yourself because when you're that influential, you shouldn't be allowed to just, you know, take it from, by using your influence.

So what I would say is, and I'm not sure, like I said, I don't even know spruce point has talked that they've covered, you know, we don't know that. I'm just saying if they have, I don't think that should be.

Yeah. All right. Uh, that's just my opinion. A lot of people are gonna get pissed off it's uh, everyone's soul is always gonna be pissed off. A lot of people are underwater in this one. And I'm sorry if that's you. Um, and I felt that that's what I feel bad about coming in on these hot social media stocks and chasing them up.

And you know, maybe they're doing this on the side and they're like, oh, everybody's talking about this stock. And it's going to go up a lot higher. Everybody's talking about it. When everybody is talking about the stock, it's usually more indicative of a top than a buying opportunity. So like when my, I used to go and my barber, you know, you'd go get your hair cut.

And your barber is talking about this hot stock tip. Those usually are contrarian indicators. If you're hearing your boat, your hot stock from your Berber as a lot of times, and you see the chart of the thing and it's straight up like that, a lot of times, that's not the last person to have box. The other thing, the thing is like w whether or not you agree with the reasoning behind that, I think it was Kerrisdale sorry.

Sorry. We said spruce. It was Kerrisdale yesterday. I apologize. Uh, and the other thing is whether you agree or not with the long thesis or the short thesis is almost irrelevant. Um, all that really matters is the price and your tolerance for risk, right? It's how much pain can you take? If you can take all this pain then great.

If you can't, then you that's on you to know that, right? W we've got a great question coming from the chat too, from Lori Jones, she says, Dennis, how is this different from GS and JP Morgan? When they upgrade and downgrade stocks, analysts, move price. Michael Pachter from Wedbush is not allowed to own the stocks that he covers not allowed what Bush does not allow that.

So he cannot profit from his own opinion. That's the difference. So he can come out with an opinion and he will move price, but he cannot profit from that opinion. And most of the analysts are the same way that the analysts are not allowed to own the stocks that they're covering that they're talking about.

So I think that's, you know, the, the, the big difference is that there, it's not like, you know, all of a sudden GS upgrades, a stock, and now we're all going to sell this. I mean, you know, and you know, I'm the analyst. Yeah. Yeah. There's mixed results. I know is I think what they're alluding to data's more is not so much the individual analyst.

Right. But maybe clients of the firm, you know, that's but a lot of, a lot of these, a lot of these big funds, I mean, they filed these analysts and they make moves, you know, based on their recommendations for some of their own, their own research. So you just have to, I mean, as far as that, I mean, what, whether that goes on or not, you just have to interpret the price action and you can see what happens like in a great example, like Nike.

I mean that, you know, it needed a catalyst, right? It put three or four loads in the same area. Right. You had an upmarket and it just, it just got tedious little bit of catalyst. Right. And it had a really good day. It's one of the best days it had since pre earnings. So, you know, don't worry about who's doing this and who's doing that and worry about.

Yeah, what you're doing, figure it out. Like if you, you know, if you've been, if you recognized four or five lows in the same area, you know, you're leaning on the low, the move and all of a sudden, out of nowhere, when Bush comes out and use it to your advantage. And that, that had a nice move yesterday. It almost filled the gap from where it opened.

It got up to 1 51. I mean, there was no, I had add, there was no level or anything for, for me or whoever added to salad at 1 51. But you do see these kind of things to your advantage instead of, instead of complaining a bottle. But, uh, now Nike, you know, down a buck, 31, if you're the ISO, you're looking at it, they got pumped on yo yesterday.

Hey, if you really want to own Nike here, you went had a seven point move, right? Boom. You know, uh, not quite six point move. This is coming right back 1 47 and a half, 1 48. While you missed it, but now the market's giving you an opportunity. So just a quick, just wanting to use Nike as an example where you know, these you'll use them to your advantage instead of you don't complain about it.

All right. Let's move on. Let's talk a constellation brands for a second here. STS that in a long time. No, we have not. You're right. Anyway, there are EPS out this morning. They missed a little bit, $2 38 cents $42 77 cents. Estimate sales that beat though three, 2.37 versus $2.3 billion. So mix, report, and beat on the top line and miss on the bottom.

Um, what is the, uh, I'm just curious. What's um, the one that just got whacked and kept getting a whack Samuel Adams. Yeah. Though Sam and it has not even come back, has not come back. Even. It is right at the Lowe's Joe, this has been a story. And we've talked about the craft breweries, eaten the major's lunch just to a certain extent, but this is also squeeze on a lot of things.

And again, you know, has Sam come down enough that, you know, they eventually starts to make sense, maybe, um, you know, I like tap maybe better. Uh, but you know, you look at constellation brands. I mean, Jack Daniels, isn't going away. So, you know, this is a stock that's held up fairly well. Are some of these margins going to get squeezed?

Um, you know, as they're inflationary, did they talk any inflationary concerns? I'm not sure. You know, if there, if there is those issues there, constellation brands, I guess nobody's, anybody's read the read. This has been in a training range for a long time. I'm just going to go to the monthly's here and it's, it's near the bottom of the trading range.

Uh, not quite at the bottom. So you don't look at it that way. What was the low, the low from, uh, going back? Uh, 2 0 7 35 you're five, six points away from that. Uh, the current load for the month is 10 59. So it's been an, a trading range. It's just, let's see how long it hangs out the bottom of the trading range.

If I was looking at this from like a day trading perspective, like even if you want to buy it on strength, got three highs of the two 16 area. It takes that out and holds to 16. I think he had some room on the upside and you're opening in. Yeah, you're open into a couple lows at 10, 10. Well, not quite yet.

10 46, 10 and a half lot, a lot of lows of the two 10 handle. No guests today. Just say we're a little bit late for our guests. I was just looking at the time, time flies with guests, I guess, as Spencer. Yes, exactly. You're right. Joel. Exactly right. Um, Hey, what else was on the list here? There was a couple of times Bob.

Bob was the next thing I see on that night. I saw this headline Charlie Munger, um, I guess through, through a, from, and he controls a daily journal, w which, which take the ticker. There was DJ CEO through that firm. They've increased their Alibaba stake by 82%. Since July they've bought 130, 6,000, almost 147,000.

I'm sorry. No, no longer. Did I say icon? I'm sorry, Munger. Um, Isabel, you guy,

have you think Alli Baba. Is not going to continue to be impacted by the cut China communist party. Then you know, that stock is dirt cheap. I don't know. I haven't have that unknown, which is why I don't add to the position. I still have the small positionality Baba. I kind of want to try it. I said this earlier on the show, I kind of want to try it for a long here, leaning on the low of the move again.

Whenever I entered a trade, first thing I look at is where am I getting out if I'm wrong? So three bucks on the low of the move is 1 38 43. So if I think the lower the move could be in which it had a nice day yesterday wanting to rally, um, it was a good tape yesterday. It's selling off in a bad tape here today.

So kind of going with the overall market. I kind of liked the trade. I liked the setup again. You know, if the stock takes out that low, though, I got to get out. This would be the trade portion of it, not the long-term investment. So if I was trying to free-trade here buying at 1 41 64 here right now, which is the offer.

I'd stop myself out under 1 38. Lotta red. I love to see, I mean, let's get it. Let's get a green, monthly candle in here too. It's so oversold at kind of wanted to go green yesterday and then the market started rolling. It was having a really good day actually. And the market started rolling over late afternoon and it just kind of hung out, but it held onto those gains.

Not bad. I mean, I don't know. It's so oversold. It makes me wonder. But I that's the contrary to me. Right. I'm probably wrong. Wow. Uh, if you're looking for it, if you're doing a short-term trade on this one, you know, you got caught up yesterday that 38 43, uh, you're open. That's going to hold. Wow. This, this, wow.

This is just, oh, let's go to the daily here. What was yesterday? Sign 43, 83, if you want to target on the upside. Uh, but we're holding last month low, so that's good, baby, baby. Get a green candle in order to get a green candle October. I know we're early. Uh, we got to close quite a bit higher than this. Uh, that would be 1 48 is where behind bad month.

That's a bad month. Yeah, close last month at 1 48 0 5. Let's get a green candle on a Bible where we get too excited, the Boxster and speaking of, uh, analyst ratings and upgrades and downgrades. I thought the Goldman downgrades to a couple of airlines this morning was interesting and they downgraded a jet blue.

And Southwest, I believe were the two that I saw. I'm not saying it was not more, uh, but those are the two that I saw. Oh no, it was American American and jeopardy American guy downgrade to sell jet blue downgraded to neutral. I mean, they're selling a little bit of the rallies. They've had, they have rallied a little bit from the lows are up 15% here.

I am an American airlines cases is up almost 20% here in the last three weeks. So they're using that and they're looking at the 22 resistance and saying that COVID, isn't going away anytime soon. Um, you know, and I, I actually, I should, I shouldn't say what they're saying, cause I didn't read the note, but, um, that's what I'm thinking on.

And it's like, well, I, I still don't kind of want to own airlines for some reason. I don't believe that business travelers coming back and you know, you do have a reopening trade that is going to happen here though. So I don't wanna be short the airlines either. I think I'm more neutral. Uh, it's given along the lows of the pre-market.

Uh, we did get down to 20, 20, 55, a man got a little gap to fill here 2030s, where where's the gap that I'm looking at. Uh, the top of that range, uh, filling that gap, the jacket, it was a really teeny one, a boy in the, kind of in the middle of nowhere. Uh, but you had that nice move from 18 and a half to 22, maybe come back into this $20 area.

But if it watch out, you know, on days like this, because if. Like you say, oh, Goldman's going to be out there buying today. Or their clients are going to be buying. You'll find out off the open, you know, you get that, that opening print and then you'll turn off that perhaps in law. But really, I I've just been real, real neutral on the airlines.

This stock is in the middle of nowhere. How's the jet CTF looking at J E T S judge, judge jets. Uh, yeah, quite a bit. We've had a little reopening trade here. It's actually been performing fairly. That looks better than American airlines. Yeah, yeah. Yeah. Well, some stocks like L UV have really come up. So I don't know.

I'm torn on them. They've had a pretty good run though. It's not like you're buying at the bottom here, but I guess like in the relative strength, like yet next thicker time, whatever we figured, take your time and tinkers in the chat for us. Uh, Noah says, look at Marriott, M a R. That's what's crazy. Run almost at all time highs.

Yeah, I don't get it. I don't get it. I don't get it. I mean guys, watch money, Mitch. Well, okay. Tell me why Marriott's at all time highs it's because it just started changing. Look at Hilton, look at Hilton. It led, why are all these bells at all times? We want to know why is it? So what happened here was an adjustment period between what was really going to happen from the reopening trade, right?

There was a big lift in the summer, so they're expecting to get good earnings. A lot of people are expecting to see good earnings come out of these. And the next thing is at this point, you're seeing even Airbnb do well V a C do well. Um, which are there longer terms there they're Airbnb. And I think at this point, hotels have already gotten back to normal.

At least hotels, airlines are going to still struggle. Completely hotels have adjusted and there they've been doing well. I mean, I, I, the opening trade for hotels, but what I've, you know, been concerned about is the Airbnb. I mean, we had, you know, a lot of these hotels and if you go back, maybe this isn't the best example, but if you do go back to 20, wow, we've got to go way back.

I guess they were on their highs really before the COVID things started. I don't know. I just, I don't want to try at all time highs. I'm I'm I'm sorry. I'm just. Uh, I was supposed to go to the hotel this weekend. That's like, I went to some hotels hotels at this point in time. I think, you know, they they've, they've gotten better with obviously dealing with COVID and we do have a reopening trade there, but I just think like, you know, a lot of the reopening stocks are still significantly off their all time highs.

And why are the hotels just forgiven? I think what did they did during the, just the COVID? They probably just caught a lot of expenses is what I'm thinking. And, you know, so if you cut your expenses, I know when we stayed in a hotel in Philly, uh, the, you know, the hotel was fairly busy, but, uh, they, they didn't have a daily, you know, real maid service coming in.

So perhaps, you know, if you're, if you cut your C expenses significantly, then you don't have to make as much money. Marriott's traded down a couple of bucks today. I know someone asked about it in the chat. Uh, traded while the old time high, you really want to see a bust above 1 59 98. That's the old time high.

That was back in February. Uh, but I would just keep an eye on the closes up here. I know it's down to box. She had to close, closed off the low you took out yesterday's low. And I just see this kid sign. I see three closes in a 1 55 handles. So let's take the clothes from yesterday. Get back above 1 50, 1 55 44, that kind of splits two lows.

I feel better if it made it close over 1 56 and then beta challenge, the higher the move. I think the longer end hangs out here. Maybe you get some profit taking, but you can't argue with that chart. I mean, hotel and you like buying stocks at all time highs as trades. I just, because I like Airbnb, we know I've liked Airbnb for a while.

I think you're being, being on a pullback. Look at w H wind him hotels. They're all. I, oh, wait. I was supposed to go to a Wyndham this weekend. True story. Cedar point. I've never been to Cedar point and we booked a trip to go with this weekend and that's not, it's fun if you like rollercoasters. I get nauseous, but I wouldn't know.

I wouldn't know. Fun symbol ever come back to, but not all time highs. No, exactly. No, I know. I mean all time high, I'm funny as $72. It's 45. So I, I just don't know why the hotels are at all time. I get the re reopening trade. I just think it's like, if you're coming in there and saying, wow, this is a great reopening trade going to happen.

I'm going to buy hotels. It's already happened. That trades happened. It's been a great, it was a great, and it's held on a lot better. Maybe they continue to go higher. Maybe we're all just going to do. You know, but I have succinct there's competition coming there too. And I liked Airbnb. I'd rather on Airbnb than a hotel valuations kind of nuts.

That was the best thing for them. The Hertz bankruptcy does not stop. I've watched it with budget and I scratch my head all the time. Props to Steve Graso on fast money. Who's been calling this for the last year. Steve Ellison. Wow. What a call man? I mean, he was talking about this at $30, 126. So I don't know if he's still on it, but holy mackerel, anybody saw this big day yesterday, he just goes up.

Wow. Maybe eventually these, you know, this is like buying nosebleed, rocket ships. Like I can't chase them here, but Italia, if you're in there just trail your stops off. That's an a, it's a hell of a hell of an opportunity. Yeah. It is a close right near its high yesterday 2 28, 78. So I don't even know if there's a seller big update yesterday.

I mean, the market was good, but that blew it away on a percentage basis. So it's the only number you got 1 28 87 and how's what's herd stock now. H T Z K Y or something like that. It hurts. Went bankrupt and not including us. We all thought, okay, well car is, you know, gonna have some trouble here too. That HTC GQ HTZ GQ symbols.

Once they're over four symbols, I don't look at them ever. I bet you. Uh, you said Henry, Tom zebra. Next you're looking for Hertz. Yeah. H T Z. Oh, there's more than one. Oh, there's more than one. Okay. I'm sorry. You're right. That's correct. You HTZ okay. Gotcha. I think this is a perfect example of what Dennis just mentioned.

When you have a major competitor that all of a sudden just gets wiped out. That's going to have superly effect a company that was competing hand-in-hand and now gets a major lift because it's the, it's the leader. It's like, let's say if Android disappeared, what do you think happened and disappear though?

Hertz stocked out, wiped out and it's over, but they're still operating. Yeah. There's still a switch a lot. I don't totally understand why that would be that I totally agree with. You mentioned the case where you get a company that just gone and ceases to exist, but Hertz is still off. So I don't, I think the car started as a massive short squeeze.

And to be honest with you, I don't even know if it ever ended. I mean, anybody who was like, okay, well it's 40, it's not going to 50. And that's 128. I mean, this might, you know, I don't know what the shortage is. Let's go look at the short interest in car. I have. This is the first time I've been looking at it, but I'm going to hop here.

It's nine o'clock time. Pfizer, you have a fun stature. You get to do the, uh, at the clothes show. You get to see how. Um, we, yeah, I should be good. Joel. I should be better. I'm going to have, we missed a lot of symbols here. I'm going to hop over to . I have 25, 20%. So there has been a significant short squeeze here.

First has gotten dilated on this. Yep. All right. Uh, yeah, it's not a clock. We made it through the day with me being very technologically limited. So thanks to Mitch. Thanks Dennis. Joel for carrying us. I mean, not that they don't care is most days, thanks to all of you in our chat. Um, yeah, the plan is I'll still be to here in the mornings and in the afternoons doing stuff, uh, just got to get some more tech, uh, that's my biggest issue right now, but, uh, yeah.

Thanks for bearing with us this morning, everyone. We appreciate it. I appreciate it. And, uh, Dennis is gone, so it's just me. Now. I'm going to hop off the stream here and wives trading. We'll start in about. Five 10 minutes somewhere in that window. Uh, I will not be on, uh, but it will be Mitch. It'd be Ryan or BZ nade, and there'll be wrong with you guys.

Um, and that's the plan. So Mitch, I will see you, I'll be watching you, but I won't be seeing you on the stream. So welcome before you go. Yeah, I heard there could be an event that I can learn some cannabis. Oh, you must be referring to that graphic of the bottom of the screen then. Yes, it's been up there the entire time.

I should probably mention that the cannabis capital conference, which I, uh, may or may not be at now, uh, is next week. It's next Thursday and Friday BZ cannabis.com. We talk, we've got executives from like 1520 of the top publicly traded cannabis companies, uh, truly, uh, Cresco to name a couple, go to BZ cannabis.com to learn more.

But, uh, this is one of our, this is our, I mean, One of our better events, because we've been doing cannabis events now for like five years, four or five years. And, uh, they're, they're always really good. So if you're interested in the space at all, can I recommend it or not? It'll be a hybrid event in person virtual.

So there's that? I think it's very important right now, especially to learn about your cannabis companies before we get deregulation in the federal level. Of course, this is what I'm looking forward towards in 2022. We don't know if this is going to happen. Also banking being talked right now. Um, so it's a very important time in the end of.

I would definitely say check it out. And you guys know that I am long and strong. I have been long, truly Cresco, Cura, leaf, and green thumb on now for, for awhile for a little while. Uh, so this is the space I am personally interested in, uh, so very, very excited for next week. Uh, and I hope I can make it, uh, what no more than a couple of days.

But, uh, anyway, that'd be a wrap guys. Uh, jot me a like, can I get some sympathy? Likes, can we get some sympathy likes come on. Well, I feel like, I think I at least at least deserve that. Uh, all right. I'm going to have the stream here and a live trading. We'll start a few, everyone have a great day. Good luck at the open.

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