PreMarket Prep

Episode Summary:Stocks discussed on today's PreMarket Prep: BA, DLTR, RIOT TSN, OTLY, WE, TSLA2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Tim Quast, Founder/CEO, ModernIR and Market Structure Edge 35:00Twitter: https://twitter.com/_timquast Meet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://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.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:This is pre-market prep. All right. Good morning, everybody. Happy Monday. Hope you all had a great weekend. And we got, we got some things to discuss today, but I, I, I swear. I was talking with the guys I'm like this close to just saying, screw it with everything. And just putting all my money on some stupid.She bring a new coin or something like that because the FOMO is real. How was your weekend actually? Excellent. Did you see the Michigan Penn state game? I saw the ending of it. Yes. Yes, yes, no, just a great weekend. All around. Uh, just bitchy basketball. One, two. It was just very cold out, but still got outside.Did some fun stuff. How about you? Uh, it was, I agreed. Well, you and I both, I feel like you and I are on the same haircuts, like, well, this is not the first time. It's the second or third time that you and I have gotten the haircuts and the. I think we're on the same cycle. Yeah, I think so. I think so. All right.So this says the new T is kind of throwing me off a little bit. Sorry, sorry. Sorry. Is that what I'm supposed to do now? I'm supposed to redo the quick rundown. Yeah. Go for it. A strong close on Friday, strong after hours. Action. Up 13 handles 91 and a quarter. What we're going to be thinking about today is 94 and a quarter.That's the whole time closing high looks like we got a good shot of taking that out. A crew down a buck, 17 79, 62 under 80 bucks. Wow. Gold down 2 50, 18 66, 10 silver going the same way down a diamond, uh, 24, 25, 25. Bitcoin just won't get out of that. 60 handle up 1680 at 65,009, 15 and a theory $92 and 50 cents at 47 79.The quarter is triple D still lurking around. Did he get a haircut also? Oh yeah. My hair look at my hair. Cut. It's beautiful. Definitely on the same haircut cycle as you guys I'll tell you that much. I haven't been in a hair like to get my hair cut in two years. Just the wife kind of clips around a little bit every once in a while she thinks she's an amateur barber, so she's doing good.What do you want to tell me? What's up? The thing about the intro. Okay. You're okay. I look great.Tennis. Okay. Every beer maker in Canada is cringing. Okay. He's wearing a cores. T-shirt. Did you notice that one more?I'm actually representing a t-shirt. I don't even drink cores. That was the, a chorus teacher that I don't even know if I own a chorus teacher.I don't know, dude. I was Sleeman I don't want to play it again to find out. Yeah, maybe we should. I know Dennis. Nice. My shirt is today. It's a little pocket tee. That's kind of fancy. It's got no wrinkles, no beer shirt. I actually, uh, I probably need to say, I probably need a hair cut. You know, the new things with Benzinga is there's going to be a dress code.That's what I hear it. I know suits a suit. So there you're going to have to ship me a suit. At least the top I'll go like mark canes or he's dead. You know, he got the suit and the tie and the top, and then you get the jogging pants on the bottom. That's the way I'll be every weatherman in America. Yeah.Okay. Let's let's do it back to Elon Musk. What Elon, you must do this weekend. I see stock down. He actually just Tweed again. He's been going at Bernie Sanders all weekend for some reason, but yeah. To your point then it's well, you're referring to, is he sold a little bit more on a Friday night? Uh, he, he sold or not Friday night sorta on a Friday, but at the filing hit on Friday night, he sold, uh, uh, blah, blah, blah, another 1.2 million shares at an average price of 10 29 67.Um, we've got the math going. I mean, where are we? I'm promised I stopped doing the running count here. So do we know we need the thing to go do the math on how many shares he sold? Because we know he wants to sell 17. It's at 171 million. He said it was going to sell 10%. So he's going to sell like 17 mil we're up to.So we're getting there, but there's still 10 million ago. So the stock seems to go down every day because all the muscle more, the gift of y'all guests was two days ago when they rallied after day one day, one up to 1100 bucks. And. Everybody's like, oh, it's over. It's not over do the grade two math. He's got a lot more stock to go.And then they sold the next day and they rammed it and they keep ramming it down. And so now we're at a thousand, I will say huge level for Tesla, $987. That's the low from three days ago, that's the psychological marker a thousand. It does appear that we're going to test that level here in the pre-market.We are obviously down 25 points at 1,006 it's only 20 bucks away. So we look like we want to test it. Does it bounce? It does a hold the 9 87. That's the critical level for it to hold or does Elon Musk selling pressure, which he will be selling more stock again. And obviously we're looking at 10 million shares Maura.So he's not quite halfway there. Uh, continue to put pressure on the stock.All right. First of all, full disclosure, I still have a long position and I'm not sounding like. Have you sold any it's a small positionI saw they didn't, I didn't rebuy it. Okay. This is, and I'm not buying puts on it. I think there's considerable more downside than the stock for a couple of different jobs. All we do is talk. No, no, because 9 87 she's too obvious of a number. Okay. So if I was, if I was true short term trading in there and I was looking for a bounce.Yeah. You know, maybe for a bounce, but you got this nine 50 level right here. Right. You got the gap to fill all the way down to 900. But I think what this is doing is there's never been a really, a good reason to short the stock. A lot of people tried, but right now we talk about overhead supply. There is, you know, you're building up overhead supply now from everyone between 1,012 50 now.Right. So there's a lot of people stuck. So even after Ilan is done, There's still going to be people that are going to there's overhead supplies, uh, is building up. So fill the gap maybe at 900. I am not going to figure any kind of retracements. Yeah, I don't think you're getting there. Maybe, maybe the Elon Musk continuing sales here.No, I know, we know long-term Tesla, I think is a lot lower long. Long-term like, I think if you put Tesla on your line into a portfolio, a thousand dollars, you're going to look back at a one day at like five or $400 to $300 and you'd be like, why did I do that? But I think it's still got, the story is still hot.So it doesn't matter at all. I mean, I think we're like in 1998 for Tesla, I think we could have another year or two of going up before he eventually, you know, everybody realizes, oh my gosh, everybody's doing EBS now, the world, it's all going to be Tesla. And we're all going to have a drive time. And I'm telling you, it's all going to be all kinds of different EVs coming from everywhere.So Miami play is still Fisker. I've talked about it. I've still long and I haven't sold any shares at all. Um, it's going to have pullbacks. It's going to give you opportunities. These things do not go up in a straight line. I think this green venture, it could be a $50 stock with one car. They sell one car Fisker or they, they got the ocean and they got all kinds.They've got more in the lineup here and that guy is pretty smart. So I think you're going to see like once to start production, but you're going to see more. You don't know about the pear is the ocean. And then there's the pair. What's the pair. Check that one out. Look it up here from Fisker Perez and like the fruit, not as in like there's two of them, like the, the, the Fisker pair say here, I'll pull, I'll pull up the images.Do we have images of this? Of course. Is this still a concept or is it actually going to go into. The first repair. I don't actually know. I think it's honoring Claire. I see one right there, pea, or find a, give Google images credit, or they yell at you. Yeah, here we can go with that one. That kind of looks like it showed that ocean and it does all that.No, that's the ocean. That is the ocean. I don't know. Wow. I th I'm a bully, you know, why. And this guy has been everywhere. He's obviously worked for a lot auditors it's auto designer. I mean, I, I, sometimes you just got to say, do I believe in the founder or not? I think Fisker is a smart person, not Elon Musk, Elon.Musk's what are you saying? Joel? You keeping her up. What you, why do you like him so much? I mean, I've just seen interviews of him. The guy seems like maybe, you know, maybe, uh, and obviously I've had a couple of good runs at Fisker already, too. Solike, I mean, we bought a 15 and then went to 30 in like a week and I'm like, okay, we gotta ring the register on someone that came all the way back and given us a second shot to retake it again. I think eventually going to see that 30 again on Fisker, but I don't chase like on all these stocks, you don't need to chase these things.These are longer term plays. This isn't like a short term day trading play for me. If it went to 30 today, Well, that would be too much too fast when they go parabolic and they go crazy during the register and then he'd come out and he'd get it back. But I mean, this has been a slow, steady climb. It is not parabolic.Do I think it's going to eventually pull back to give you an opportunity. I think you get another shot to get back in this thing, maybe even under 20, but I think you got to take that shot. I think it's still, I think people are going to start to realize not just this Fisker, but you know, a lot of these Evie plays and a lot of these DB plays aren't gonna work out in Fisker is still speculative capital.I mean, it might not work out, but at the same time they've got the deal magnet. They're going to start production. Magna's a real company, you know, what do we think? Like, you know, even look, we're looking at Magnus church, that kind of looks pretty good. MGA. Not saying, you know why I don't like Magna. Why?Because, uh, Frank Stronach owns a company and he bought a. Yeah. He bought my favorite racetrack in Detroit and, uh, in my dad's when he bought it, my dad said, man, they're just going to do that. They're just buying it for the land and they're going to sell it and close it. And they did it. Yeah. He owns, um, he owns, uh, Churchill downs.He's a, he's big into horse racing, very big in horse, but that stock chart looks good, but that's, that's important that they got a contract with a big company. I mean, how many of the other Evie companies can say that? Right? Because they don't, the production is going to happen with Magnus. So a lot of these companies have to raise money, trying to figure out how to do it.Think about how much struggles Tesla had with production off the hop. Think about how much of your money they were burning. And they're like, oh, they're going to run out of cash. Think about all those struggles. You know that, and then, you know, you've got to deal with Magna here. So that helps with all of that.Cause, but you know, regard, everybody's got their opinion, there's some new TV plays. Um, you know, there's a lot of people don't like Fisker, I mean, results so far speak for themselves. Stock has done pretty good. Um, but you know, it could go to zero, it could be a zero. So that's why I stay diversified, you know?And we talk about that all the time. Know I own like, I don't know what 80 stocks or so 90 stocks my longterm portfolio. So if that one went to zero, okay. I would lose 0.8% of my net worth. That would suck. But I mean, at the same time, you've got to have some capital in, in, in growth and speculum capital.So you pick your stocks. I don't have Tesla longterm portfolio for the simple reason, but I tell you, you know, people, you know, it doesn't go my long-term portfolio, but it's my day trading board oil a lot. It's not in there right now, but you know what? I try the 9 87 for a bounce. Hey B, we got to see what it does there does it like, is it hit it hard?You know, what does it do? Does it do the undercut and rallies? A lot of times I go 97 and go down to nine 80 and then get back above it and then show some life. You kind of want them when they start showing life. But the problem is with men LMS still sell 10 million, 10 million more shares. People are trying to get ahead of that and they keep dumping ahead of that saying, he's not done yet.It will probably have its rally before he's done though. So I don't think like, wait until the day he's done selling and it's going to bottom that day. We'll probably bought them before that. So we're in the, kind of the middle of it. Is it, are you early on the treadmill? It's hard to say, but we've lost 200.We will have 20%. So it's a suggestion. And how much is he? It, he's not even sold half of the steak, right. Or half the first half is going to be the worst because there's people getting ahead of it. Now there's, you know, people short, the stock, those people are going to have to cut. There's probably people that put the stock short on just anticipating that he's going to be selling.It's going to go down. Those people eventually got to get out too. Not saying it's going to be a huge short squeeze and Tesla. It's had a short squeeze forever. It's for a short and just probably way less than it was years ago. But there's some short term traders in there playing the short side, trying to anticipate that he sounded more and they're right.They've been correct. So I, I think you're a little early, but that levels at 97, if you wanted to try it, it's a level, you know, at least we got a loud, you hit it yet in the pre-market just to give you out. If you're looking, uh, actually hasn't even hit a thousand yet. Uh, pre market, low standing at.Pre-market one double oh 2.505 and a half bucks, but there's one thing you don't necessarily have to shorten it. But I mean, if we could talk to people, you know, if they're attempting along, you know, just to be aware of that, you know, this is like, this is market structure. This is dynamics. There's a big seller in there.Right? Do you want to get, do you want to figure out what if he decides to sell another 10%? I don't think that's going to happen. I don't know anything, but we don't know yet. And he can do whatever he wants. We, all we know is he said, he's going to sell 10%. He was going to buy, buy it. He's at like 4%. So it's still 6% to go.So you're right. This market structure, this is a big seller in the market and it's not just him pushing it down. It's everybody else getting ahead of it, pushing it down. And you also, you also said funding security for 20, but I want to, before we move away from this, I want to bring up this tweet that Mitch just dropped, um, here in our private chat.But I look at the screen from a Henrik Fisker. Okay. This is from November 4th. Okay. Yeah. I just have too many things to analysis. My PR team told me to wait until November 17th, which is in two days, but I think I will let a few things out on November 16th as we have a secret pre event for journalists coming to the LA auto show reminder that L L E show is Friday.So maybe news this week out of, I love being long. When I have a catalyst, I'll have a catalyst. All of a sudden you do what's money. Mitch of Fisker. I met you in the background. See their money match. What are your thoughts on Fisker? And there's a reason. Well, I don't hit you, Dennis. It's my favorite. I would have taken that lunch any day, but, uh, it looks like there's no lunch there.Take your on the same side. When I, when I say something and Mitch is like on the exact opposite, he pops it and want to do a lunch bat. Remember what was the one you killed me on? Like, you knocked me on that.It was a ride. It was bullish on rights. Somehow I did everything. I bought the rip. I did everything like on paper. I was buying the rip and everything. And it's just like, I know this is the wrong side of the trade. Went straight down for like four days after that. I can tell you what day it was. Uh, one thing I'd mentioned about Elvis first is they are taking the Tesla motto, right?How the Tesla really get big. So it focused first on us construction, right? And then it started going international building, uh, kind of their factories in what Germany in China. This is the same strategy that Fisk is coming at it. So they're trying to use magnet to go ahead and build here and build internationally and have different places so that they don't have to worry about sending their calls.Their car overseas and then getting that, all that tax. So that's another advantage that I'm giving Fisker. They're really being smart in that. We're going to do factories here. We're going to do factories in China. Then we'll do a factory in Europe and then we'll keep building in each one. And that send our cars across seas, which is what really kills the value in the margins.Yeah, that's, that's expensive. So yeah, the trade is just simply not going, like it's going to cool. It's been hot. Don't kid yourself, Evie trades really hot here and maybe it starts to cool off, but I don't believe, I think we're still somewhat in the early innings on the trade and you just gotta be careful because some of these stocks going to work out, some of them aren't, I'm still along for.You know, I still liked GM and obviously I didn't rebuy it, but it pulls back. I will get back at my general motors is still like all the big autos. I think they're all going to be turning it around on V I think we're all going to be driving electric cars. I'm still logging my Lac and our reported earnings, or at least it had some commentary or something today.Um, I'm still along the L T H M. Those are pure lithium plays, obviously a bet on the derivative. The thing behind the thing, uh, as Jason Rasnick likes to say, um, and you know, those stocks have been great. I mean, I bought L lithium at, I think, $5. It's $31 and sold half to do that, to do that. When the stock doubles, I sell half and then I'm playing with the house's money forever.It's sometimes a mistake, but it makes me feel more comfortable in some of these positions. Fisker with basically the same thing, uh, doubled. And I was like, okay, I buy that. He's got Selly. So, okay. 20 minutes on Tesla and EVs. Come on. What's next. Well, we, we, we just had an M and a deal. Get announced, Dennis, what are you doing over there?Do you leaning on the buy button or something? Yeah, he has his elbow just found elbow, uh, uh, CA Casper guys, Casper asleep, which only IPO showed in, uh, February of last year, uh, is going private now. Um, they don't like their stock price. This is a bit of interesting one. So the IPO at a market cap or a valuation of around $500 million, they're at about $150 million market cap right now.And now. They're being acquired for, uh, $6 and 90 cents a share, which puts them at that's X unit, nice, healthy, premium. And so that puts them at one, a $300 million market cap. I don't think I've ever traded the stock Jasper. Wow. Look at this PR. Well, they're on a hundred million dollar company. They don't hit my filters very often.I don't, I don't, I don't think I've ever traded the stock. Look at these, look at this purple innovations. This, I mean, this thing it's getting laid out. It's the same name. So now their mattress, it's the same idea. It's mattress in a box is what it is. I think people are figuring everyone bought a new bed during the pandemic and no one, you know, now people are going to be going to Airbnb and Marriott and everything.And they're not going to be buying new beds. I guess. That's the thinking on that? Oh, your sympathy trade here is purple, I guess, right? That what you're saying? That's the only ones. The only one. Yeah, we don't have care about Casper. Now it's getting taken over the Arabs will take it over 6 96, 82. There's no money left to be made there.If you're a long overnight, congratulations during the register and move on per fall. Sometimes they sympathy plays pop. Uh, is it too? I don't know. It's up 7%. That's pretty good sympathy pop already. So if you're buying a seven, are you giving up the edge already? Maybe we needed to know that 15, seven minutes ago when we could buy 1375 and somebody.I dunno, that's just a weird one because it's been public for like a year and a half or a little more than that, and kind of Mr. IPO and the tale of two markets. So we've talked about that. There's some stocks that are just relentless, the bid, and there's some stocks that are relentlessly sold. So I guess when you're a smaller or your PE firm and you look in diamonds in the rough and you've got, you know, a company, that's sure you think it's worth more than 150 mil.Well, let's throw some money out and that's by it. It's also not their fault that the IPO to February of 2020, you know, like a month before the best time. The month before the world shut down, uh, by the time, I mean, people were buying or buying anything the first couple of times. Um, anyway, so I just saw that come across, but there was some other movers you have this morning.Somebody has to, before we go. So Hertz is officially back on the big board. Hey. Yeah. Yeah. So when did that happen? Like five days ago. I see her back on the big board happened last week. Yeah. Yeah. So it's back. It's back how bad they got diluted. Um, on the Hertz, on the Hertz IPO, they weren't actually raising it.This is not good guys. They weren't raising any money. All right. They were in the money. Wasn't going to the company. It was going to the seldom shareholders. Okay. This is not like, uh, it's not a good situation. I think for, for, for retail investors, this is good for the people that brought this thing into the bank.And are getting paid, but this is not good for a, I like being able to trade a Hertz car again. I used to like pairing those stocks up. So I liked that that's on the big. Twenty-five bucks your level on HTZ. Brett's got a hold that level. That's the level of all levels of that. It gets breached. Get the hell out.I would say. But as long as it's above that, you can take a shot all the way back down a long way as it come down far enough that they're rocking and rolling. We were, wow. You know what? I wouldn't I'd say this. I would not want to be short car. Um, if it gets above, get to get up a Friday or Thursday, I got 2 76.I'm gonna make a run for 300. I don't have the curve chart here. You gotta stop yourself out. The low, that was the low of the move would be 2 45. It's like one, that's a 30 point stop. But I mean, that's your out. So again, always luck when you put on a trade don't look, how much money are you gonna make?Look how much money you were willing to lose and then have your stop point. So, because that's how you've got to analyze risk, always. So I'm looking lower, the move to 45 that's 30 point or 2 67. So I guess 22 points. So you'd have to hold to that really to give it a fair shake. I don't know if I want to lose 10% on it, so I probably wouldn't take it here, but it doesn't, it doesn't set up bad.I want to move to a couple of movers this morning. Um, we were talking before we hopped on the show this morning about Boeing. Well, not just Boeing, we talked about all, all the airline makers, but Boeing in particular, because they do have a headline this morning and they got an order for two new 7 77 freighters.Uh, I think it was their first new order for a while in, in quite some time, uh, Airbus to also got some orders I saw. Right, right. Um, but yeah. So Boeing turning higher this morning up to 2 28, not as stock, we discussed too much these days. Well, it's been sleepy and this market has been rip-roaring and we are in two.You know, this month coming up is typically, you know, run. The Christmas is typically a very strong month for the markets. The S and P is making new highs are going to make new highs again here probably. Um, you've been running and tech has been running the show here for a bet. The question is, does the show start to get run by the laggerts and the next week?I think so, uh, this could, you know, does this kickstart Boeing is so much memory, two 30 is maybe not the stock that I'd like. Um, and the airlines have just, you know, look at AALS move on Friday. Like. Um, the thing got hit really heard, um, L U V has comes down, but now you look at them and you think, could you buy the dip?Do you have some memory on some of these stocks? I think you could do them as trades AAL. I would stop myself at Friday's low Luvs come down substantially, but you're down here near support. Again, you know, the cruise lines come down. I think there's still a reopening trade here. I think this rally is actually, or this sell off is actually an opportunity to buy some of these stocks as trades.I would stop myself out on those of the move CCL, for instance, and you know why we're talking to Boeing and I go on all these, cause they're all just paired up together. They're they're all cut from the same cloth, obviously 2131, the lower, the move on CCL. So, Joel, I don't know. I threw a whole bunch of cruise lines, airlines, Boeing.I'm not buying Boeing up eight bucks, but you buy some of the cruise lines and the airlines that have been hitting. Do they have a balance because of Boeing today? That's my question. Yeah. I mean, they've had good sell-offs did you say freighter? You said 7, 7, 7 freighters though. Is that. Passenger planes.Yeah. That's good. Move their freight aircraft. Yeah. I mean, I think that's one thing working against the airlines and cruise is crude. It's starting to come off a little bit. Um, we've talked about the reopening trade date that you're coming into areas to support. I just kind of got the feeling that, you know, travel's going to be, you know, redefined and maybe it's, you know, that's true.And I think maybe everyone's going to take an Evie and go to a park or something, you know, sort of an RV electric plane. Uh, we're not, that'd be a very long extension orI don't know the clean planes here. We are trying to make the world cleaner. The plates are the dirtiest things. I look in the sky and you know, my kids, when they're my girl old girl and she was younger. It's like, what is that? And the sky looking at the chemical trail, the chem trail of these planes. Um, why don't we get the electric plane?That's what I'll invest in the electric plane they charge. And the scar is working on an electric plane. Do we do have some companies work? It's gotta be somebody working on that. We already have that we got Joe, Jovi's doing the fricking, uh, Uber for the sky, right? Isn't that? It's like helicopters, right?It's the first step, right? It's like if air taxis. Yes. But are they electric? Yes, 100%. What's the company, Joe. There's a couple there's. Joby. Yeah, there'll be one. There's another one too. Um, did you guys see the fine motorcycle over the weekend? There's a flying motorcycle that goes like, whoa. Yes. And invest in a flying motor.It's like, what were you smoking this weekend? Okay. This is another way you guys say we were doing one of those Elon Musk creative sessions. I think, you know, I must probably get someone with ideas from our show, creative sessions, man, the creative sessions. ACHR super spec man saying is also working on, uh, Evie planes.AC I've wrote them both down. Wow. These stocks been killed. So nobody's on this story. This story is hated right now. I see a chart goes down every day and that's their specs. What do you expect?I haven't had a lot of luck, but Boeing levels it's bid. It's a, there's nothing on here in the dailies. I mean, there is one level of keep an eye on at, uh, 2 28 66. That's where we're at right now that your October 12th high, and then two 30 to 10. That was, that'd be the next level. The other thing that I think the whole retreat, I mean, they had problems before, right before the.You don't remember everything that happened. So maybe they're getting those behind them. The high rebound has been on since the COVID law has been to 78, 57. And I think that's right around the 50% retracement of this whole move. When this went from what four 50 down to yeah, 2 67, you get back and you hold 2 67 for an extended period of time.That could turn very bullish on bowling. The monthly's are looking good, too long, wave away. No, it's not that the way these markets move guys be there three days. So you think it can go, do you think all through here today? Here's the problem. When you buying a stock like Boeing, it's been in the gutter for so long.There's so many bag holders here. It's hard to like kickstart and get it going. It, it might, it might kickstart and get going, but you know, you do have the huge level at two 30 and then you look past that. I get to 32 and then he got bag hold as a two 40. It's why it's so much tough to buy these docks.When they've been in the gutter, this line, who's too many bag holders up top willing to sell their shares. So I'd, I'd love to get talked into some of these stocks, you know, same thing with all these cruise lines airlines. I mean, they do, they have bounce trades on them. I think they could have bounced trades, but are these things ripping and roaring and making new highs?And these are the ones you want to long-term invest in. I don't think. So I feel like every month I get, I come to this question like, oh, do I want to buy the airlines here? Like long? I kind of do sometimes too once a month. I asked myself that question. And then the answer is usually, is always now, but I know that's a long term trend.Not your friends. Yeah. Yeah. It's been that way for years. Yeah. Anyway, three minutes, we had a few more things before we, before we bring in Tim monitor, we can do like dollar tree, which is up. Cause they got an activist, a stake in dollar tree told mantle rage, took a $1.8 billion stake in the company and they are going to unlock value apparently.So they say, man, those stories are now. Because I let my kids go wild in there. Lets the kids go wild in there too. It's like, oh, what are we going to do? Let's go to dollar tree and that's some stuff up. It's awesome. You go in there. I'm like, you guys are allowed to pick out two toys each, you know? And he goes there and he walked out.It was $8. This is awesome. The kids like it just as much as like, if they go buy a $40 toy, they're like my, my four-year-old's looking around like, oh, and then she trades this toy for this toy and this toy and for this toy I'll whole time. Well, I want this too. It's awesome. All right. I guess it's gonna be $2 now.Right? Cause we're going to the $2 tree cause of inflation, but still pretty cheap. It's the all time high for dollar tree is what it is. Dollar tree. These stocks just, you know, it's dog making new all time high. I never liked to be short stocks, making new all time highs, but it's had a long run here. So, and you are, uh, Joel that 2 20, 37.We have actually not made the all time high back in April. To twine, big level. Holy DLTR a level of all levels. Joel, super-duper absolute resistance here. Maybe nothing's absolute to Twan one 20. What do you think of that? 1 20, 37 from April? Uh, we traded up to 1 23 in the pre-market. Yeah, that don't count though.Now it's back down under one 20, cause that's onlyone 20 in the regular session, a breakout to new all-time highs. Then it's interesting. If that one 20 holds be careful. Yeah. Beat. I, I may use that as a target and a, if it hits that, keep on going. How's the other ones there's dollar general. Yeah. Dollar general. Then I can throw big lots. I throw a big lots and then, oh, big lots of sleepy.I can get talked into big lots here. BI G what do you think retail's kind of turned it around. The S the big lots, wherever, where they went wrong, as they started to clean up their stores and people like me, don't like that, like to go in there and, you know, by the, by the aspirin, you know, that's, you know, box, it's all banged up.Cause you know, the aspens okay. Inside and you get like 50 cents off. So, I mean, that's where they kind of went wrong. A little bit, was trying to be like a little fancier stores when everybody kind of just want a discount and they liked the feel of the little rougher around the edges store. But I could talk, I liked that kind of don't mind this big lots chart you had the big.You know, and at the end of October, when we went from 44, up to 53, and now we've consolidated for a couple of days here and stop going down right around a little 50% retracement. Joel, I'm kind of like don't mind. Yeah. I mean, you've got a couple of lows in the same area. I mean, I don't mind that. I just want it hasn't went on my shopping list, a ton of monthly support.I mean, this was monthly support at the end of last year and it had a nice run in a nice, nice run in January of last year. Maybe this is one, uh, you'd have maybe had some tax selling still going on a little bit. If anybody has any losses in anything, uh, now you're getting a little bit of a pop 52 looks like you're good.Go. Little trading range, maybe 48 to 52, but not looking bad on the chart. I could talk, I could talk to that one. I don't mind that. Sure. Alright. Oh, one more before Tim quick, uh, olderly OTL was your big loser of the day. Um, earnings is what this is. They, uh, written they're down 14%. Uh, and I'll give you the numbers here.EPS and law, seven 10th per share sales, 1 71 versus $185 million estimate, uh, sales, uh, guidance for the year. Oh 635 million versus $694 million actually missed on their sales guidance and their sales for the last quarter. And this is your big loser of the morning here, OTL Y beyond beyond meat Oatley group.I mean, I guess writing was on the wall here, so oatmeal. True story. Oh boy. So Emily bought some of this, uh, oatmeal. Right? And she, she left it at our house and she said she tried it, our house and she hated it. And so we left it in the refrigerator and I'm like, I was looking at it and I, I I'll, I'll try it, you know?So I tried it, I looked on it. The date was okay. It was horrible. And then I poured it out in the sink and I don't, I don't want to tell you what the color look like. I'm telling you now it wasn't white off white. It was more like. I always not good. So there, if I would have, uh, taken the, not the eyeball task, but the taste bud test, I mean, it was absolutely horrible, but that you did make a low under $10.This is a new IPO, uh, a new all-time lows. So keep an eye on nine 80. That's your pre-market level. I'm not a fan at all. Stocks making new all time lows. You gotta goto all time lows. Okay. Mark is structured. Tesla. Let's do it.Good morning, sir. Good to see you guys happy Monday to you and Spencer. I owe you an apology, I think on Friday. And I was in an aircraft at that moment. Ah, he's doing something in dispose or whatever. So yeah, we were, uh, we were, we were down catching the rolling stones and Zach brown and Atlanta along with 50,000 of our closest friends in town tonight are they will tell you.Yeah, it's wow. The rest of us have no excuse after watching, uh, Mick Jagger and, and Ronnie wood and Keith Richards that do do their thing for an hour and a half. Uh, you know, and they're there my mother's day. And here's Mick Jagger running down the stage. He's skipping, he's jumping around on one foot.It's crazy. 7 78, 78 years old. He is, he is, he's not pitchy. I made it. You listened to his recordings in the sixties and now they're all the same as identical. They have it's I was shocked at how good they were. So, uh, that's what I was doing. And that was a, so the effect and the aircraft, uh, you know, blotted out any thought of a Friday Benzinga with a patch.Do you know why they sounded so good? Because it was probably like, it was probably like a pre, like a prerecorded concert. Yeah. They do that stuff all the time. Dentist don't be naive, but Jack Brown, I mean, that would have been great too. I love Zach brown. We do too. Right. Yeah. Just plus one other little, little, one other little tidbit, because this is, this is the, the, the, you know, two things come to mind and I'll proceed it with this.It's the, I love these sayings from the Proverbs desire, accomplished the sweet to the soul. And then George Carlin hard work is for people short on talent. So that's been my motto, but, you know, market structure edge was the big winner of best day trading software at the bending of FinTech awards. So we, that was the, that was reason for champagne and Atlanta.We were, uh, we were delighted. It was because we I'll tell you, we put our shoulder to that wheel to the best of our ability. And so thank you guys. And thank the edge mob, hashtag edge mob for, for that. We're we're, uh, we're delighted to have you on the wind. Where are you, Tim? I am in Denver at the moment.I'm in the modern I, our offices in Denver. Oh, you're back in the office. I am briefly, yeah. Mountain in the background. Exactly. I haven't been to Steamboat in weeks because we've been all over the place and we'll be in Boston this week, then in Charleston, then in Austin. And finally back in Steamboat, I think about December 8th.So, uh, we've got a bunch of ground cover. Anyway. I heard Tesla. Is that what you guysokay. Let's uh, I saw you were talking about big lots. Uh, you were talking about Oatley. Uh, Joel wants to ask about Tessa, I think, because we're wondering what it does to the market structure. When you know, you have a, a whale among whales in the market with you, right? So, and it's, and it is informative, uh, because you can, it's a, it's a great lesson on how the market works, the supply chain of the stock market.So this is market structure edge. And if you ha you folks who use it, you know, we talk about supply and demand all the time. So that's what we're looking at. We're looking at demand on the top supply on the bottom. I'll briefly explain that if you, if you want to join along, go to market structure, edge.com, hit requests, free-trial put your name and email in and you can follow along.So what we're looking at is 30 trading days here for Tesla, with demand, which is an algorithm that takes into account the various behaviors that drive their four big reasons people buy and sell stocks. The. Uh, the characteristics, the short-term prices and its association with a derivative, that's really what it comes down to.So we never heard that before. Actually. I want to write that down there. Say that again. I've never heard that before. Okay. So people buy, buy, buy, and sell stocks for the story, the characteristics, the short-term prices and the association with the derivative. So that's put some calls and swaps and other contracts for difference.That is it. That's the summation of demand and those things fluctuate. And it's why we pay attention to month end and options expirations because those purposes fluctuate. And then the supply side in the stock market today is borrowed or created stock shortly. So when here's the interesting thing. So the, they look what was happening to the supply side in Tesla, right before the stock drop.So everybody, all the market makers probably for Elon Musk are already working in this transaction. So they short the stock. So w why? Because they can offset their risk. If they're a riskless principal, they're not going to front run the trade, but they can offload the risk associated with working the trade for Elan.And so they short the stock, the stock goes down and they call it. Their exposure. So short vine goes up to 54% and then drops all the way down to 41% was a huge swing. When you're talking about a stock that trades, uh, at times 40, 40, $50 billion of stock a day, it's a crazy amount. And then here's the demand side.So demand was still very strong at the same time. But when you have demand at the ceiling and supply rising, get out, it's one of the classic lessons of market structure. I look at it now and say, this isn't so bad. I don't think Tesla is about to fall apart. I think that equilibrium is very close here and probably sentiment turns.And so if you're watching that as a trader, you want to know when does demand begin to rise and if supply remains low, the price is going to rise too. That's it's that simple. Uh, so I think that that's how the market absorbed a massive known event. Elon Musk selling at least 7 billion of stock and a Betty sold more than that.I bet. Well, you know, he probably did. He probably did 10 billion, just like he said, he would and it's come out in pieces, but it all probably happened right here. Cause that's how these transactions work. If Pfizer wants to, uh, repurchase a bunch of stock, Goldman Sachs goes and buys $5 billion like that.And then it works. It's that process works its way through the Margaret accelerators, accelerated share repurchase. And there is a delay in Tim's correct. There's a delay on the filings, obviously when they hit the Friday sales, Spencer, do we know? Let that hit Friday night? What do we know when those sales, just to, to talk to each point, do we know when those sales actually occurred on Tesla?Yeah. So it was Friday night is when it reports it was no, it actually, the filing says the filing says the date came out really fast was Friday. Yeah. That one came out really, but some, but we know on the original one, we didn't start seeing filings until Wednesday and it was Monday. Right. So it's, they don't always hit that quick.That one did hit. We've we've looked at this in many re literally scores of activist situations where you have a required 13 D filing that details when you bought or sold things. And then we go look at the data and say, well, it's impossible. It had to happen before because the market couldn't absorb these things and that that's okay.That's what, that's not, there's nothing wrong with that. That's how you use a prime broker to help you facilitate a transaction. Prime brokers are our brokers who will provide a range of services, capital execution services, and so on. And they're going to work that in a broad based fashion, and then you report it, right?So these transactions occurred. Well, it, there's not a perfect match to those things, but you can see it traders. You can, you can see that stuff coming. If you see this event and there's news, you know, That's the go because it's good. It's already happened. You're going to see that divergence. That's a good question here, Tim.Why? I mean, why can't someone make a market? Like this is what I like some like Goldman or Morgan. I won't mention eight firms. Like they'll come in and they'll say, Hey, I'll do this. I'll do everything at nine 50. Right. Everything I'll clean you up. I made does he have to do it? And all of a sudden you see this huge print or it'll have to be like nine and a quarter.Well, nobody's making a market on 10 shares of Tesla. So there's no market maker. That's going to absorb all that one below. That's a lot works. Yeah. When you're selling $10 million worth, not 10 million times a thousand. So that's the math. I'll do it at 800 and then we'll work it out in the open market.Never leave our house again. So temp bottom line on Tesla and the market structure. Take us right back to her original question there, obviously, you know, we've seen the demand or the supply issue from muskier. W what is the market structure looking at now going. Well, here's the thing. So demand is still falling.See that this demands returning to five look at the supply side is also reverted at the same time. That suggest to me that we're very close to this, that somewhere around it's it's at 5.4 now, I think so that's still above. That's still above the axis of five. We think of five and we just normalized the supply demand to a 10 point scale.That's all we did. So we can have a very simple way human minds, like the idea of tens, uh, that, you know, fall, anything above five is, is excess demand. It could stop at about let's call it four and then reverse and rise. Again. These conditions to me, don't predict that Tesla goes to 800. I'm not seeing that in this data.I could be wrong, of course, but I look at that and say ahead in the next week, price turns maybe even in less time than that. Remember options. Yeah. Options expire Wednesday, Thursday, Friday, this week. Index options and then triple witching. Uh, so the people are going to look at that. I would, as a trader, if I had any kind of muscle, I'd say I'm buying calls.I started buying calls to move the price just so I could unload those calls by Friday. It's a possibility. And I think there's a setup for that. All right. Is there anything else, anything else on your radar? Well, so I think in the same vein, we should talk about this great surge. And I tweeted this stuff Monday.I said, look at Evie. You know, you look at the supply demand balance and the whole of EBV. You can look at cloud computing. You could look at communication services. All of those things indicated gains while all of that's gone away, by the way. So cloud competing, if you're in cloud computing, time to be out communication services, still room because the demand side is still strong, supply sides, declining EBV.Here's the interesting thing. I could just look at the whole overall portfolio. This is giving us the averages for the overall portfolio with 13 companies in it. Look at this. This is why E V searched. There was a massive departure between demand and supply. See how supply plunged and demand. Well that portends a big surge.Now. Sure. You can say this is the infrastructure bill. Yes, but you've got a great setup that will tell you that it's coming now. Where is it? Well, the supply side's fine, but the demand side's done. So if you get out of your Evie and wait for the next time, if, and if you've missed it, if you missed the exit, just stay because that'll turn again.Uh, but that's not going away. It's not going away. No one is, if you look at the top end of these. So look at here's quantum scape, Fisker, Nick Nicola, lucid, Lordstown, they're all tens. But look at their short vine, save for Lordstown. Shouldn't be in Lordstown, the rest of these, not that. I mean at 40% short, remember the S and P 500 is 43% short.So these Evie stocks are still have a tighter supply chain than the broad market. And in less than, until that changes, you know, th th I look at it and say, there's still a good story. And an Evie just don't expect the kind of 12, 13, 18% gains we saw. Can you, can you just explain one more time for you go, because we talk this all the time, short volume, much different than short interest.Just a, I'll let you explain your data there on short volume, because you're talking about the actual trading of the market on a daily basis, not looking at, you know, what's being held to. Right. Short interest is a 1974 measure and it has not changed since then. So don't rely on a 1974 measure to tell you what to expect in 2021, short volume is a 2009 measure created by FINRA to, uh, to measure the amount of trading volume coming from borrowed stock and believe it or not almost half the volume does.And so what market makers exactly, because of that, we've talked over and over and over about the association between the market making exemption from the short locate rules and mean stocks happened in car. You can see it with, if the, if the market makers are not creating stock and demand, surge is what will happen, the price, it will skyrocket until those things that just, and you can see that.So that's what short volume is vital measure today. It's one of the things we're really keyed in on, you know, one of the things we've done with edge is to say, here are the things you should find. The next step for us is for us to find it for you. Where are the divergence is occurring between supply and demand that predict these outcomes.And it's very predictable. It's not perfect. There's no perfect solution. But all we're doing is saying, this is how the market works and you can take advantage of that. All right, Tim Quas joins us every single Monday from market structure. Mondays, the link to his platform market structure edge is up on the screen.It's also in the description and a check back every Monday for the segment with Tim, Tim, always a pleasure to talk to you guys next week. Hey, before we, before we went on the time today, I do want to talk about cannabis stocks briefly. I want to pull up a chart here of the MSOE. Cannabis ETF. Um, and I just want to show you the volume.They're really rant ran. They really went. I just want to show you the volume, uh, chat. Does anybody happen to remember what happened to cannabis stocks as a whole around November 8th? You can see the volume there on my, on my chart, it just exploded. This is the us cannabis. Um, ETU is cannabis stocks, ETF, right?Um, from, from advisory shares. Does anyone in the chat remember what happened to cannabis stocks to us, cannabis stocks, specifically around November rates, something something happened and that it prompted this volume increase? No, not a Republican deal. Um, I was the catalyst. The catalyst was Joey EASI, JP Morgan, JP Morgan.Starting November 8th, we are not going to let our prime broker clients buy us cannabis securities. That's what that was. Then chat's all over legalization thing. On top of that, you have the Republicans, the Republicans of all people hijacking cannabis as their issue. Oh, screw the Democrats. We're going to drop our own bill to legalize cannabis.Boom. On top of that, you get earnings from last week and there we don't care about whether the good or bad we just care that they're over with. So you've got ER, or past earnings we've got, um, underlying demand because people who literally want to buy us cannabis, stocks can only buy this one thing. This one security MSLs, you've got the Republicans doing their thing to legalize cannabis.And what is this? Come down to a perfect storm here and for a cannabis stocks and not to mention they were massively oversold. Like we looked at cannabis a week ago and saying it's sleepy and they were oversold. I think it was maybe like, I can't remember what day, but I can remember looking, you know, until Ray and CGC and saying, while you're down here and they've stopped going down for a few days and they're massively oversold, so you could get a bit of a squeeze and that's exactly what's occurring here and all of these stocks now, again, you're in stocks.Typically selling the rip works very well. And so, you know where this party ends. I don't know, but am I coming in, in a canopy growth and buying it now at $15 and 68 cents when it was $11 last week? Hell no, you know, that's a 40% move. Could it go to 16? Could it go to 18? We don't never know where the top is going to be, but you have, you have an overhead supply issue just as we were talking with Tim, with that being said, these docs are massively oversold.So if you get a dip, then maybe you start to think about getting back in from a long-term scale. They're massively oversold on a very short-term scale, actually overbought now. So you want to dip to give back if you, if you're a believer in the pot story, I'm not, but if you are, you want a dip to get back in these things.I wouldn't be chasing them. And crypto morning shows. Yes. Also there's the tax laws harvesting. Yeah, exactly. I was thinking thoroughly. I know some people start early too. I mean, it all depends. You got to have a hard time finding losers in your portfolio. Uh, I'm just saying we haven't had 16 bucks yet.Got pre-mark and I comes in at 1590. Uh, there's a pair of highs right in that area. 16, right. 15 92, 15 99. So I don't know. It's there's two eyes in the same area, but just looking at the monthly. I mean, if you're in this like that is you, you said I'm not coming in here and buying it in 1571. If you're reeling the risk down to the low of the movie, you're going to think you're going to get 10, 20 points off.I don't think you're getting 10, 20 points out. If I thought it was 10, 20 points, I would buy it at 1570. I think there's a couple points possible. And I see, you know, I don't know when it's going to pull the rug out from under it, because they seem to always pull the rug out from under it on these cannabis stocks.So the story, the story has been cold for a while. It gets hot for a few days and then all of a sudden it goes ice cold again. So I honestly think it's a rally to be sold this one with the basic, I try to keep my. Stocks and uptrends buying depths stocks down trends. I'm selling reps. This is a stock and a clear downtrend.You, you have a 50% or 40% rally and CGC in a week. That is a rip to be sold. And I would agree with you for the Canadian name CGC, Tilray that? Well, let's look at the problem that most of us names aren't even, you know, GRW G hasn't even started going. I know it looks better. I know. And I'm talking about M S O S for certain people, certain institutions that want to buy us cannabis stocks and they bang through JP Morgan.They can't, they literally can't JP Morgan said, we're not going to let you, but there is an alternative. That's why there is like literally hundreds of millions of dollars flowing into SOS and the last. Last week or so, because there's no alternative. So MSOE is decisions for JP Morgan clients though, these things snow, but they scroll ball is my point.So we're up tore up from 25, up to 32 and 33 now in the last week and a half. So yeah, so I will take the point again and say I'm SOS and a clear downtrend. This is a nice, huge rep. We're talking about three you're right? To your point, Spencer for seven points on $26 talk, 30% rally in a week and a half.That is the definition of a rep. I would sell it. Okay, fine. Sorry. I, I, I'm not a fan, I think. And you guys know I'm bullish and I, and, and I think that, all right, I think I'll take the other side of that for the rest of I'll do a lunch prep for it. So am I SOS 33 with 33 right now? I will say. And you've got the momentum going with you.That's the one thing you do have going with you. So I want to go out for like a buck 38 38 versus a 27. I'll do that with you. I don't know. 33 20. So it's a 33. Yeah. Five up five down. So they're 33, 28 versus 38, basically five. I'm looking at finance clothes. No, no, no, no. 20 versus 38 forever. So 30 whatever head first.So 38 I'm taking 28. You're taking 38. I'll take that. All right. We got to lunch, but if I lose Joel OZO lunch,I can't come to the country. I got to come down there. I'm going to come see you guys. All right. I'm writing this down, write this down your rights. And you know what? I never write them down. So I forget I made the bats guys get me, but I don't remember it like two days. So now that I made this bat, let me know when I lose.Right. Okay. Here. Oh my gosh. We, we ran out of time. Let's just do one from the chat. Let's do Shopify. Somebody asked about Shopify move a half hour ago. This stock has just been on absolute fire. That candle on Friday. Holy mackerel. This is your tech play in Canada. This is like it's like Nortel was in 1999 for Canada, Shopify as the tech stock of cannon.And, you know, obviously that's, you know, new all time highs and stocks and making new all-time highs. You do not want to be short them. I would be a buyer of pullbacks in Shopify. Valuation is terrible, it's high, but it doesn't matter when the story is hot. So we don't even consider valuation at this time.How do you know the story is hot stocks, like in a new all time? The story is hot. So I would be a buyer of pullbacks and shop, find my chasing it up 175 points. No, but if you get a 50% retracement, which I love that 50%, retracements, you know, stocks going away, waves, waves, waves, you're buying, you know, a stock clear uptrend gets you the depth.If it gives you a dip, a nine points is not much of a dip, but, you know, could there continue to go? I wouldn't want to be sure that don't short stocks make new all-time highs. Wow. Wow. This is a tough one. Uh, I mean, I'll say like minor, like one star resistance. It flows at 16 69 52 and then maybe a one and a half star that, uh, 64, 16, 74, 79.So six times volume, uh, of third of fried on Friday from the. So that, uh, oh no, I was going to get like super bullets on this one because when it had this big green candle, it had two more like this, you know, two pretty good days, but this is like, you're, you're going into like new all-time highs here. So you might see a little profit taking, but you got two levels of many upside 69, 52 and 74 79.And got a little buyer here at 1660. I don't know if that's, uh, you know, gonna hold up 21,000 shares of traded. So, all right. It is 9 0 1, got a single bond. Uh, Joel have two dentists and hello to live trading with Benzinga, which will start in a couple of minutes here. After I wrap up today's show. As always, please remember all the information from our show is meant to be used as informational purposes and not for investing or trading advice.Thanks to our guest, Tim Quast reminder, market structure, ed.com Lincoln description Lincoln was in the, on the screen before it's literally just market structure, edge.com. Uh, Benzing approach. Check that out. If you haven't already, you can get a free two week trial, go to pro.benzinga.com. Uh, last thing I want to plug for the day before I forget, um, is our next Benzinga bootcamp is this Saturday.If you don't know what I'm talking about, I'm going to put the link in chat right now. You can go to Benzinga bootcamp.com to learn more. It is a, oh, where's my chat. There it is. It is a full day event. Nine to five. We're having let's see, who's speaking. Uh, Jake, who Jasick from Trendspotter we've got Anne Marie banned.Samantha Luddu Chris Capri, mark Patrina. We've got a full day of education on trading technical. This Saturday nine to five Benzinga boot camp.com. Check that out. All right. It is 9 0 2. We're going to wrap this up, go over to live training with Benzinga myself, Mitch, Ryan, Florida, Junaid, and a, well, hang out through the open.That's what we'll do. So, uh, we'll see you guys over there and, uh, Did you know, nearly all stock price changes of 10% or more result from a single news headline. That's right. News headlines have a unique ability to drive stock prices up or down. These news catalysts create trading opportunities every day.All you need is a little help to reach out and take them. And if you're looking to grow your portfolio, it doesn't matter if your investment budget is small or big in easy to read stream of news. Headlines will increase your opportunities to profit from price changes in the stock. Consolidate a knowledge-based investment strategy and grow your portfolio.All you need is Benzinga pro and it's powerful news alerts, price tracking, and portfolio monitoring. To make a positive change in your trading performance. We've already helped thousands of retail traders across the world, and they could not be happier. 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Episode Summary:Johnson & Johnson splitting into Johnson & Johnson? JNJ StockElon Musk sells more TSLABiogen has good Alzheimer's data BIIB2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Nate Tobik, Investor and Founder of CompleteBankData.com, author of The Bank Investor’s Handbook 37:00https://twitter.com/oddballstocksMeet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://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.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:What's up everybody happy Friday. We made it. It's the end of the week. But that is not, it does not mean the excitement is over. I want to show you guys something. Check this out. This is pre-market prep with Dennis Dick Spencer, Israel.oh, what's that a new intro? Maybe? I don't know. Do we stick with it? Do we change it? Do we go back? Let us know what you think in the chat. We're open to feedback, but we thought let's change it up a little bit. Wait, let, let us know what you think about it. He thought it was. Too long. You didn't like the music.You liked the music. It was feedback in the chat. We're open, we're open to it all. Uh, guys, we got a lot going on today. We got some big news in biotech slash healthcare land. Uh, Biogen had some news Johnson and Johnson has some news to talk about that. We'll probably talk about few more shares of Tesla yesterday.We're going to talk banks with our guests today. Nate Tobruk is the author of complete bank, data.com and the bank and vastness handbook. He would run the show at 8 35. We would do some ticker time at the end of the show and then Mitchell Jewish segment, or he'll run through what's on his radar. In the meantime, let's bring up Joel's charts here.Tell us how we are doing. We're doing okay. Spencer of quiet inside day on, uh, uh, veteran's day yesterday caught a bid right above the clothes. We got a double close area that's kind of rare 42 and 43. So that's my area of interest on the downside, uh, on the upside. Quiet. We couldn't, we took out the intraday high, but not the, uh, the globe backside.So we're chopping around here. We'll see if we can get that 46 60 handle and barrel towards back 4,700. Got some work to do under downside. We'll see here by the quiet overnight range, only 14 points are crude flirt with 80 bucks. Again, that's down a buck 36 at 80 23. Gold's down six 60 it's 18 57, 20 Silver's down 18 cents and 25 11 oh Bitcoin taken a little haircut today down 1180 at 63, 8 75.And the Ethereum go in the same way down 157 bucks at 4,600 and a quarter. That's a little over 3%. So one of the first news items I see today is this Johnson and Johnson split. And so the first thing I think is men. I hope Dennis is not short Johnson and John. No, not sure. Johnson was long Johnson and Johnson overnight.And this is what I tell you on any given day, random news can work in your favor and out of your favorite, don't let it affect your strategies. Because a week ago, when I was short general electric, and that announced the split into three companies, I got murdered on it. People saying, maybe you should decrease your size.Maybe you should change something up. And I was like, absolutely not because it's random BS, bad luck today on J and J. I just happened to be long and overnight I've already sold it so I can freely talk about it. Um, it's just not it's that's not like, oh, I'm a good trader because I just made seven points on Johnson.Johnson. Yes. I made seven points because I sold it earlier this morning. Um, it's only up for now. But I'm not, you know, it's, it's not just good trading. That's just BS luck. That's so this as much as my GE short, when it renounced random news was BS, bad luck. This is BS. Good luck. So I was thrown into the BS jar because you're not a good trader because you just made seven points on J and J this morning, you got lucky.That's just random luck. So random luck today ran a bad luck last week. I basically net out. So, you know, on that. So I have a better day to day. Probably. Can I ask you a couple of questions here? And this is something a little bit of a preview for the December 11th event, where you at your desk, when the news.No, I had slept in a little bit, but I missed it by about 10 minutes. So the trading afterwards is some skill involved. So the nice thing about this general electric, you know, is that it gave us precedents on what they're going to do for stocks after splits or after they split them up into different companies.So somebody came and they just couldn't stop buying change. Hey, this morning and bought all the way up to $172. Okay. We already know that GE not only gave back, it gave back all of it and is now trading lower than when it announced it. So it appears that they get the initial hop and spike off this, and then they give it back.At least that's what they did with GE. I think the same thing is going to happen with J and J. I think the same, thing's going to happen with J and J I would be selling it even at 1 67 and a half this morning. I was long. It, I sold at 1 69 and a half. I didn't get the 1 71 71, cause it was up there and you can see the initial spike up.And I wasn't at my desk at that time, but when it came back, you know, um, I must've got to my desk. Well, no, actually I was on the initial candle, I think an initial candles. What? 20 minute candle? Joel. 15, 15 minutes. Yeah, I was right in there. I was in there somewhere. Did you like, did you sit down and you know, did you, did you, did you just come out and say, okay, I want out at 1 69, there was a bed and you slammed the bed?No, I thought six and a half bucks was good enough on news like that because, because G had just given it back, if G hadn't given it all back over the last three days, I might be like, well, maybe I'll digest and see, but now I have pressed. So I'm like, okay, I'm just getting out. So I think I hit the bed at 1 69 and a half.It actually was up at 1 71 after that. So I could have got a little bit better price, but I wasn't sitting around waiting to see it start leaking. Cause I don't know. And, and I'm just getting into my desk. So I didn't have time to like really analyze what was going on that much, other than the fact that I see a split.I see, I just saw this last week and the stock gave it back. So it makes me think that this could give back to, I think six and a half bucks is too much. I think. So I made centimeter and I guess I made six and a half. So, uh, you know, that's why I turn around and sell it. So now it's only four and a half, like I said, could, you know, it's going to be talked about in the media.It's on CNBC right now. I mean, Jim crane was going to talk about it. Jim Cramer likes J and J he'll talk about up and maybe pop into that. But I think when the dust settles and we look at this a week ago, Other things being equal, meaning, you know, we don't have a rip Rowan rally and all healthcare stocks.Um, and there's no other news in J and J I think J and J could leak a lot of these games. The only reason I asked and then we can move on. I know we're spending a lot of time on this as if you know those initial candles, when it was this one on its way up to 1 72, right. That like you would have, if you would've seen it there, I do like, ah, you might've disliked on the way up, you know, like a whole number there.Might've thrown something out there at one 70. It just because the market's moving so quickly. Right. I don't think yet gore. I think I was out of, I think if you're looking at the candles better now, so that initial spike up candle, I was in the second candle, the second blue. So I'm not in that initial one.Cause that's a better candle. I'm looking at them in the second one. I wasn't, I was actually, I was tired last. I slept in a little bit. I usually get to my desk before six at sometimes at six o'clock. I thought I'm at my, I was up at five 50 and I laid in bed for like ever. So I was like, I just didn't feel like going down.I actually did check some quotes and stuff at like six o'clock and they didn't seem to be that much going on. Obviously this news broke around, I think, around six 20. So I got to my desk, I think it was in that second candle from Paul. Why don't you reverse and go short? I mean that's yeah, that would have made money.That's that's a really hard thing to do when you're launching something and then turn around and go short sometimes. And when you can do that, you're really on the ball. So yeah. Would have worked in this case, but I would have taken some heat on that too. Um, so it's always easier to sell along than it is to turn around and say, okay, actually thinks this is bearish.So do I think it could leak it back? Yeah. But do I think there's still some pops in here? Do I think there's going to be a Cramer push at nine? O'clock probably, I'd probably sell more into a Kramer pop if he comes on and he gets behind this, like, oh yeah, this is great. Maybe even talks about on mad money.It could pop a little bit more because of that. So I think, you know, up for it doesn't feel like much of an edge because you still have a lot of people. I mean, it's on CNBC right now. So they're gonna talk about all day so that could drive more volume into it. As people talk about it on media retail, traders, get in.I do think. If you're in this stock, I think you need to ring the register. I would say right now, after coming down off that 1 72, I'm just looking at this 1 67 and a half area. This is just very short term. You know, I would, and I saw this in GE I remember one 14 and I was saying, if they can't hold one 14, am I give it away?Give it back right now, kinda that 1 67 and a half that looks at. But the other thing I just want people to think about is this stock got up to this area right here. It has a traded there since early September Johnson and Johnson is a fairly thick stock. All right. So in order, so if you, if you think about how much it's triggered a lot of volume, it could definitely open up in this area, but if you add up all the days and all the volume and all the potential offers out.That is like a huge move. And if you were doing that, I mean, it would almost never happen in a regular session. So this is one where you got the good price in the, uh, in the after hours. We'll see. See what happens in the regular session though, but I'm glad you were on the right side of that one. Dennis.It's random luck. So you just got to, when you have random, bad luck kitschy, it has got to chalk it up and say, that's not, you know, if you're trading bad, you're trading bad. Sometimes I trade fantastic and I lose money for simple, bad luck. So it's like a casino. I mean, the edge is 52 55. Maybe it's 60%. If you have a really good edge, you're gonna lose 40% of the time.42% of the time. I know people have 95% win rates. They don't take losers. And eventually those little losers turned to big losers and eventually get rocked. Like somebody was talking about, um, you know, a trader that, you know, hasn't had any loses, any doubles down and he doubles down and it keeps averaging down and eventually comes back.We know how that story ends though. That story ends. Like if you average down, and this is why, you know, the casino has limits on, you know, doubling down on red, red, red, but you know, you get to a point where that roulette wheel goes, you know, 10 times in a row, black, 12 times in a row, black, those losses get immense and they get huge.So you can double down, you double down, they doubled down, they double down and 98% of the time, the stock eventually comes back and they get their money back. But that one or 2% of the time when you've averaged down so much and you've put so much capital to that, what happens is you end up often blowing out your account.So you win 98% of the time. But on the 2% you blow out your account. I don't like that either. So you can Jack that win rate up a lot. You can have it really, really high, but you better be knowing what happens when that black Swan hits or, you know, that time that it doesn't come back. And it isn't pretty.And I've seen a lot of JJ question, Eric, why were you long? Was it just to, I had to get something else. Do you remember. I needed stock. I was just too short spot. I'm doing the yard, but I'm just buying the stocks against the index. So I do the ETF AARP. So, um, I'm just buying and I do it, you know, I do it all the time.So, you know, I'm just doing the Arab to try to build it. I don't do it like high-frequency style. I build it and replicate as much as I can. Like we've talked before Joel, when you've got those top 10 components, you're pretty good correlation with the overall market to the tuna, like 94%. But if you only got 10 stocks against the S and P you're going to have those outliers where, okay.All of a sudden Tesla has a bad day or something. That's a big component, you know, that, that can throw out that all out. So it's a different style, but I needed stocks last night and you know, I just, I bought some J and J so I don't, I don't remember. I probably, I analyze that for like less than 300. I just needed to buy stocks.The market was ripping last night. I needed to buy stock. Don't acknowledge my joke on the screen here. Josie joke, Johnson and Johnson will become Johnson and Johnson. It's that funny? You tried it on me earlier.Um, can I control those, uh, those graphics down there? Can I get to put stuff up? How do you do that? Yeah, if you want it to do we want to do some teaching today? We do want to do some teaching. We're getting some great questions. Paul and Paul messages, me, uh, he, he, he, he gives us, he's given another one.It's like, when you do your Arab, is it random? Or do you pick pick sectors? I try to sector hedge as much as I can. Like I try to banks with banks come up, you know, oil stocks with oil stocks, you know, steel stocks was still, if I can do that, that's awesome. If I can't, you know, once I get big enough, once you get like 50 or a hundred positions on, then you kind of are the S and P to a certain.So you can start and remember, and I was adjusting during the, you know, if I got a lot of smaller caps or mid caps, I might do IWM against about a lot of tech stocks I might do QS against, but when Tesla was going nuts there for a few days, I actually was using XLK just to get away from the Tesla impact on the QS.So you kinda got to understand, you know, what's the percentages and the different ways to do it, but there's so many different vehicles to, to hedge with your ETFs. And you know, and a lot of people say, well, why do you hedge? Why don't just go long? I mean, a great market. Yeah. You know, probably over on a bull market, you make more money just going along.But, you know, the difference is in a bear market, I make more money in a bear market than I do because those, any efficiencies grow. So, and again, you know, if we just going back to the history of my trading, which, you know, I've had multiple questions about this my best years in trading, my literally my best years, 2001, 2007, 2008 and 2020.Why? Because we had huge crashes in huge bear market. That's when, you know, you have a real edge when you actually make more money in bear markets. So bull markets, I'm making money. I'm doing well. But because I go both ways, those shorts, you know, they don't do that well in a bull market, but you know, they do really, really well in a bear market.And, and don't kid yourself, virtue, financial, you know, sit it down. They're all having their best years when you have these price dislocations as well. Don't kid yourself. Cause they're doing similar stuff. So the pro professional traders, you know, I was asking, you know, uh, another friend, another prop firm, I'm like, what was your best years?You pound out the same three years as me. And you know, and it's not a coincidence. So I mean, in a bull market and everybody looks like a genius, right? If you're long will only, and stocks are going straight up, you're like, wow, you know, 20, 20, the back half of 2020, everybody's like, we can do no wrong. It's been a little bit different this year, but we're still in a bowl.So you have to analyze your own edges. Am I really good at this? Or am I just benefiting from a bull market? Because like I said, I traded retail in 19 97, 19 98, 19 99. And I made money all the time and I thought it was the best trader in the world. I got to break trader and trading in 1999. I realized I had no idea what I was doing.Like I literally was just benefiting from the bull market, the ridiculous bull market, where everything was going up. And then in 2000 and 2001, you never heard much about trading after 2001 because it was so many traders. The NASDAQ fell 81%, 81%. Everybody got. I had my best year ever, because I had adjusted, you know, to understanding that I've got to trade more hedge.I am taking on more risks than I realized, you know, my, my buddy James Mercer there on Twitter, he was tweeted something last night. I retweeted it. A lot of people have no idea how to manage risk. And you haven't really learned it in this market because we haven't really had a bear market in the last year and a half, two years.You know, we obviously had an ugly market in March, 2020, and people would have learned the hard way, but they also learned that, that they hold it comes back. And, you know, for the most part, maybe the indexes do come back and maybe for a long only investor, you don't have to worry about any of this stuff.But if you're trying to trade for a living, you've got to be able to go both. That's it right there. Um, Hey, uh, we had ran ever, Ted Waylon said, wow, that that was, I don't know about that, but a tease, but a tease of what will come on December 11th. Uh, but if at any time you can do, but until then let's get that like button hit that thumbs up.That's great stuff from Dennis and Joel. Uh, let's move on here. Let's go to Biogen. Uh, they had some good data out this morning. Uh, they ha they report a phase three data on their Alzheimer's drug. And this phase three studies showed two things. It showed one, a reduction of a protein, a key protein, uh, that, uh, it's found in patients with Alzheimer's and two, a correlation between said protein and cognitive decline.And so what they're saying is, uh, our drug reduced this protein that we've also. Contribute to cognitive decline. So that was out last night after the close. And, uh, the stock reacted to that big time. I tried to buy it on this headline and went really fast. Um, I didn't get it. I tried, um, I've probably slept for the first few seconds on it.And then you're reading like, oh crap. And you and I could have lifted. I should have lifted. I could have lifted the two 70 that would have paid up three and a half. And I'm really like, I can't believe I didn't lift it, but I second guessed it. I was just like making sure, like, is this an old headline?Because obviously Biogen has talked about Alzheimer's a lot, so you're trying to quit. And then somebody lifted and then went to 72 to 75 to 80. Why did I not just lift the two 70? And this thing went all the way up to over $292 on that initial candle. So they got really excited way over done. Biogen is a thin stock after hours.It wouldn't have went up on crazy volume. It would have been like a few hundred shares, probably traded up there and then they pulled it in. And the two seventies fields. Two 90 was way over time. Yeah. Now you got to reset. You hit actually a 92 75. I think I would just look at some, you know, now that you've given it back, I think you just got to look at some daily highs here.Um, and you actually have a few even before two 80, but uh, maybe get a look at this 2 79 71, uh, that was the high on, on November 11th. And then it opens up in the two 80 handle, but, uh, kind of a thin stock. I think it's going to have a real hard time getting back up to, you know, uh, getting back to the 2 92 75, but we'll see.What about on the negative end of this, this head? Any others? Like, uh, what said stock? That's competing Sava Sava. I, I like where your heads at all? Not really. Okay. Yeah, I dunno if it was rip, roaring up 50 bucks today on this headline, it'd be a different story, but because it's only up a few bucks, it's not even getting headlines.I mean, it's up $7. Are they going to mention on CNBC? Probably, but if it was up 20 or 30, it'd been like the top story with Johnson Johnson. So because it's not rip run rally, nobody's thinking like, okay, well, this isn't good for Sabra. This isn't good for Lilly, which has a competing drug as well. I thought it last night too, lowly I'm like when it was ripping up 20 bucks, like it was short Lilly on it, but then it came right back in.I was like adds probably a nothing burger for allele. So, um, I mean, you gotta analyze the, with the more wicked, the move, the more likely you'll see the peer plays either direction. Obviously, you know, thought process, competing drug, bring it down. I mean, we saw that with Merck Bristol-Myers a million times.Yeah. And I, I traded at that day, but I didn't hold on to it. And Regeneron, I don't know where it is. Yeah. It was a by two, we said that, um, you know, but I did say maternal was a buy on that too, but Donna has not really bounced back much. So it's kind of right where it was just hanging out down there.Eventually I like at a certain point in time, but during it's going to be a five, because I think they're going to have that flu. I mean, if you're buying a 2 23 this morning, that's it see the one hundreds again, it might because COVID is taking such they're dumping the COVID like the stocks that benefit of COVID.So fiercely that baby with the bath water is getting thrown out here too. I do believe that Madonna is a better company though, than doing so many things. And I believe in this, like if I was buying Madrona versus. I would do a Madonna all day long right now. Do I think you can make money doing a pair of maternal long Novavax short?I think so. Um, but it's gonna be a lot of heat all over the place on that. It's it's going to be a wild pair for you, but I do think you mentioned Madonna recovers and I'm not sure Novavax has, I just think modern is a better company. That'd be a longterm bet though. But then you got to look at borrow rates.If you're going to do it. Long-term you got to look at a lot of things. I'm not sure. You know what the rate is of no, of vacs. I haven't looked, it's probably not that bad, but something you have to consider when you're putting on long-term pairs and then Pfizer get the hops yesterday. Those things were back over 50.I know you just can't seem to, uh, keep a good stock down. I guess the one thing to consider is Pfizer, you know, is it's been the cheap way to play. COVID the whole time. I mean, what's a trait, Spencer, 10 times, 11 times 3.1, 2% dividend. I mean, healthcare drugs typically are lower. Very good gas, 11 and a half is their forward P 11 point.And this is a core holding of my long-term portfolio, which I'm not getting rid of. I bought it at $14 when the PE was 10 or 11 back then. And obviously it just continued to grow. That was like seven or eight years ago. I bought this. Um, but again, I mean, you know, it's, it's been a cheap stock. You don't expect a Pfizer to blow it to a 25 30 times earnings.They don't do that, but I it's, it's not an expensive stock by any means. And Regeneron isn't too. I like Regeneron as well. I've said that. So a lot of healthcare stocks, I like all the healthcare stocks. Well, speaking of all this, I feel like this is pretty relevant. Maybe we should talk ACN. Cause AstraZeneca had an earnings this morning and I'm like Madonna and I'm like Pfizer.AstraZeneca is a taking one for the team that they've given away, their vaccine, a lot of their COVID back. For basically nothing. So, uh, the revenue that they've realized from their code vaccine is, is bought a fraction of the revenue that Madonna has, has realized. For example, modern has realized like $5 billion of revenue from their COVID vaccine.Ashley's Avoca, uh, is, is nowhere in the vicinity of that, but they just say that they're going to start realizing more revenue, uh, going forward, but they've given away a lot of their vaccines, uh, for, for, for basically nothing. I'm not quite sure why the stock is down this morning, to be honest, because the numbers weren't that bad.The headlines, at least weren't that bad to me. And they reaffirmed their guidance for the year. Um, but you know what? The stock is looking for. The, if you take away this morning, it's looking pretty good. Yeah. It's probably a by on the pullback. I mean, it's a stock, that's in a clear uptrend. It's not a sexy name.It's obviously already priced over in Europe. Something you have to consider is that, you know, it's not like this is just pre-market trading. It might just rip higher. It's been trading in an open in Europe for five hours. So this is where it's going to be. This is where it wants to be. Does it bounce around the 60 area?I think it could. Am I jumping in, you know, this isn't one you're going to make 20, 30% in a hurry. Is there slow stodgy stocks? You're going a 4% pullback if you're a long-term investor, it's probably a by, yeah, we, I don't know. I can't remember when it was a while ago. I know at least someone died and, you know, she reads like the magazines and stuff, you know, the medical journals and stuff, and she had let's buy some AstraZeneca and I think, okay, so that was probably six, seven.I mean, that's when, like, Doximity, you know, I don't want to look at like this one. I'm like, I, you know, I, you can look at it. Today's a big down day down to 40 sevens already priced in what happened in Europe, but, uh, Not doing anything. The time to load up on drug stocks was back in the middle of the summer when they were all in the gutter.And they just all got too cheap. I mean, Pfizer Godself down to under 37, 30 $8. And we had Lily pulling back there back in April 180 and Merck had pulled back into the low seventies. I mean, they're in Bristol. Myers was Bristol-Myers actually has come down. So that's actually an interesting stock in itself.But I don't know. I, I think, I think you're probably happy if you buy the stock, but it's not going to be the rip wrong one that takes over your portfolio. It's slow and steady wins the race there. Uh, this is off topic, but we screwed up. He, you know, we should have been doing it for the past few weeks. We should have been submitting a bid to buy movie pass because movie passes rule is relaunching, uh, because the founder.Um, bought it back from Helio, semi at the scene in bankruptcy proceedings for last, for less than a quarter billion dollars we could, could've had movie pass. What were we doing? I don't know. What's the symbol. It's not talk about that stock. It's not a stock. It's not, it's not, we should talk about it. All right.But I thought that was funny, I guess not. Um, let's do it. We have a few more newsletters before we're gonna bring on our guests here. Um, a bunch of random, like headline, is that a China? You had, you had singles day yesterday. It was a record day in terms of revenue, uh, for Baba, JD Baidu though, all are trending down this morning.DD came out and said that they expect to relaunch their app in China by next year. I think January is what they said. Um, and, uh, we had some Evie news as well. So a lot of Chinese stocks moving this morning for all different reasons. Just as we said yesterday. Wow. We haven't heard anything out of China lately.Remember that? And like singles day, I mean, we totally let that go. Baba had a nice pop off. It had a better pop-up it did. It did, uh, whatever, the, the IDD. So they're, they're getting to relaunch their app. That's what they said. Stock isn't responding. At least not much. They say by the end of the year is what they said here.Yeah. 1950s, a big fan of stocks are hurt, man. That's like, there's so much random news that happens from a political standpoint. It's tough. It's tough. All right. Well, I'm leaving out that we can move on. We can do. Um, and in terms of other movers it's morning, Yes, we can talk Tesla here. Oh, there we go.We're done. I can't believe I didn't reinitiate my shirt, so, oh, give you both a round of applause. Cause he nailed that one. He thought, ah, there is no way he's done selling it. Can't be, it doesn't make any sense. Yesterday. Elon Musk went back to, uh, the selling booth. I don't know where I was going with that.And he sold 600, 630 4,000 shares of Tesla yesterday. That's nothing he's going to have a lot more to sell yet. So if he's only sell 600,000 a day, he'll be selling every day for a month. So get used to it. There's gonna be more sales here. Eventually they'll become numb to it though. And it won't matter anymore.I think yesterday you had the initial pop where there's hope. I didn't understand it. That maybe. Uh, profits, there were one trader in the firm that held it all day, like off top of it and held it all day. And then it actually is just like, it's not done. It's not done. And anyways, um, anyways, like he had initiated a short and after the open or whatever and held it all day and it was, uh, ended up being a big winner for him.So he came back down. I wish I would have reinitiated my shirt. I was sure to wish I would have held onto it. Um, obviously it's came down significantly from there. I don't know at this point in time, I think everybody's starting to realize, oh, he'd probably going to be selling for a while. So it's down five bucks because he sold more it with it gave back the gains because I think there was mark was anticipating that he was going to sell more.I don't know where it goes from there. He's going to continue to sell it. But if he's only sound 600,000 a day, maybe it's not just a drop in the bucket. Yeah, he, uh, well, what did you do? You had, um, I mean, this is interesting here. I know I was looking for 10. I want to really see a good to 1115 yesterday, because that would have been, you know, halfway back or the move, but doesn't look like you're going to get there.It doesn't look like you're going to get a shot now and the 1100 handle, but this is, this is we're going to find out if the selling's done. Cause I'm looking at this little bouncy Jad and people I'd say 10 40. I would keep an eye on that today. 10 40, 10 42, because that's half of this. Uh, that's off a little bit, but you guys know what I'm talking about.You had the pop couldn't even come back to get half of these, you know, half of these losses and now you just kind of roll it over again. So figure you're 50% on that, uh, that 9 87. Sure. Does it feel like it's going to be the low. Oh, okay. Um, yeah, you guys are right on the money yesterday with yeah. Yeah.You brought it up. I mean, you showed it on pro I mean it wasn't, you know, it's simple, simple, massive. Yeah. 10 of 10%. What does that equal? Okay. What did he sell? Oh, showed you different numbers. Okay. Uh, anyway, uh, let's see. Um, well I've named topic on, in a few minutes. Invidia is trading lower today. They call it a downgrade, honestly, though, like the best kind of downgrade.If you had to rank the downgrades, this would be the best kind you have, which was like nothing. They didn't change their mind on the company. They still love the business. They just think the price has come too far, too fast, which is the best kind of gung, right. They're like, Hey, we still love Nvidia. We just think.Right up too much, too much for an hour. What did they give? Like a three 10 price target, you know, something like that and a hundred, 303. Okay. So that makes you scratch your head, like, okay. Do I want out at 300, just go back to Tesla. 10 32 is my number on the downside muscled level for Tesla today. 10 32.Uh, the stock has had such a run inside day yesterday. Not even near taken out the low from yesterday. That's what I would, if I was lying this thing and it's took out the low 2 87, 78, maybe some more downside here, but still hanging into 300 handle. Yeah. Anyway, um, what else is on my list here? We had some earnings.I'm not sure if y'all want to cover them cause we, no one should do it. You want to talk Vivian? Yeah, Joel and I had one yesterday on the show. Uh, I did not see you not giving up now. I, you know what, maybe we can ask Eric Cole cause, uh, or, or maybe Manhattan, but I'm not really sure how often you see this, where a stock undercuts its opening price on the very first day of the IPO and then comes back to the very next day today's training, even higher than that.The initial I day I that's what I kinda thought it would open and then tank and it did it did, but it's turned around and now looking strong in Italia. Now it's pride a breakout, obviously making new highs in the pre-market as well. You don't want to be sure to stock making new all time highs. I don't think anybody's short here yet, but they're going to be starting to be able to be short here, I think today.So there's a lot of, you know, obviously for was out there when things, when I've been out there two days, but I would imagine you're going to start to see some people thinking, okay, I'm going to short this thing. The valuation's ridiculous, but we know it's, you know, evaluation doesn't matter when the story is.And write that down. I've said it a million times on the show, but if you're new to the show, write that down. Valuation does not matter when the story is not. Stock is still being talked about nonstop in the major media stories. Absolutely hot disconnected from fundamentals. You'll know the story goes cold when the stock starts falling.But right now, this story is hot stocks, hot. It's making new all time highs. What's not to like really a 1 22. Yeah. 1 22 99. I would look at that. Uh, that's the old time closing. I have just two days of trading. What I would look for in this one. If you're trying to pick a top and I'm not trying to pick a top, um, traded 103 million the first day.Right. So that's pretty good value. And then you taper it off to 83 meals. That's a little bit, a little bit less. If, if it, if the value really starts to come down and then it starts to consolidate, maybe I'll look for a break because you still got fresh, you know, everyone's buy, I gotta buy reveal, you know, it's the next Tesla it's gonna this, that.So, you know, you still got, still got the buyers out there, pushing it up, but there's a point where people are like, ah, boy, that was a quick 20 points, but I don't see that at this point, pre-market high. If you want to just a level, just a really short term target a 1 29 18, uh, that was a high in the pre-market Becca.What, what you guys are saying, uh, just to provide some supporting evidence reveal was the 1, 2, 3, the fourth, most searched stock yesterday on Benzinga and the most search stock yesterday on CNBC. So, uh, it is trending, definitely. Um, but let's, let's pivot the conversation here, uh, and let's go over to the banks.We we've been, we talked about the barons Florida, little time, a little bit here and there having to have haven't had a longer discussion, but let's do that right now with our guests, NATO Beck. He's the author of the bank investors handbook. And he also wants complete bank data.com spring on the show right now, Nate.Good morning. How are we doing? Are you guys doing, we're doing great. It's a Friday. Um, everything is, everything is good. Apparently. Uh, I mean, just looking at the overall market, you can even just look at the banks specifically in everything seems fine to me. It, it, yeah, it's a, it's kind of business as usual.Um, you know, I think kind of the big, uh, really the big narrative is, you know, what's inflation going to do for these. Uh, basically when that number came out, you know, a lot of people realized a lot of banks are lending at negative rates. Um, so, you know, you've got. Inflation at say 6% here, 6.8%. And you get out of mortgage for, you know, 3.2.When did they start raising those up? You know, so that's, that's kind of the thought, I don't know. Um, you know, it seems like the fed doesn't want to move. They want to keep rates artificially low. And, uh, you know, because of that, right now, rates are just stuck. So it's almost like a game of chicken, you know what what's going to happen first, uh, consumers aren't demanding anymore on their money, which is kind of crazy.Yeah. That's, that's the crazy part. They get back to where it all starts. I mean, there's people sitting with their money in their bank getting, you know, even if you're sitting in these long bonds and you're getting one and a half percent on your money, I'm like, who's doing that. So, I mean, if they can borrow, if the banks can borrow and you're sitting in your savings account, getting a half a percent or 1%, they can borrow at 1% and still, you know, give you a mortgage at three, they're still making.So the crazy part is that investors are demanding more for their cash. I know. So I mean the one area where you could get more on your cash is if you go into a, to the eye bombs, you've look at these, they're paying 7%. Um, and that's, uh, you know, government backed bond. They had 7% through April 20, 22. Um, problem with that is it's like a limit of like 10 or $15,000 a person.So you can't actually move substantial money into these things, uh, without, you know, playing all sorts of games, um, you know, incorporating little companies and trusts and stuff. Um, but you know that, so th that's it that, so if you kind of look at, you know, what they're paying on, I bonds, uh, that's probably deposit rates should probably be, you know, three, 5% and a bank should be lending at, you know, like 8%.Um, but instead it's just been artificially pushed down. Uh, so I mean, you know, the thing that's interesting is what we see is so many banks and we hear this constantly, so many banks, they say we have so much money burning a hole in our pocket. We don't know what to do with it. So while they have these cheap deposits, they have the same problem as every other investor, which is, they don't know what to do with the money and that.So they're like trying to look for any, you know, any place to, to, you know, lend it and put that out there. And in a lot of cases, uh, they're willing to make uneconomic loans because making 1% set of making 3% is it's making something and there's so much cash on their balance sheets because of their, so as PPP.All of that was repaid and that cash is sitting there. Um, organic business demand is, um, it, it just is kind of been wrecked from 2020 and never really came back. And, uh, so everyone's just loaded with cash and waiting to do something. Uh, and so I, in some ways, if rates do start to go up and if they go up significantly, uh, banks should do pretty well floating up with them as they start to make new loans at these higher interest rates.Um, you know, I don't know. I don't know if we'll get that. It might just stay low. I, my gut, my gut is that the fed is going to overshoot. This it's going to stay way too low, way too long, and it's not going to be a good thing. You got a couple picks for us? Yeah, I mean, so, so I think if you look at the big banks, uh, if you look at like bank of America, Goldman Sachs, all those, those guys are they're pretty, fairly valued.So like one and a half times book value, 15 times earnings. That's like a good, that's a good spot for banks to be. Um, if you start to go down to the regional level, uh, like regions, financial, still decently valued, um, a little bit below that, like a New York community bank FNB, uh, I've mentioned FNB before.They're like, uh, they're trying to become a regional bank and, uh, they're throughout Pennsylvania, DC, Virginia. And there, I think North Carolina, um, they're trying to, you know, make that next level up, but these guys are like 80% of book value, a few times earnings. Um, they all have all these banks at decent yield.So when you drop below that regions financial level, you're looking at like a three and a half to four and a half percent dividend yield on. So, not only do you get something cheap, uh, you also get something, you know, That's going to pay you to sit there and wait around the line with Nate. Tobik he's the author of the bank, investors handbook joining us here on PMP.And I made, I just have to say, you're looking pretty sharp this morning. I liked that new dude. You don't have that. You don't have the dentist due on today. Thanks for looking spiffy. Uh, okay. Two questions here. The first question, uh, now it's not directly related to bank, but indirectly related to bank. I mean these mortgage lenders, I mean, come on, you know, rocket and a United mortgage.I mean, they had one heck of an environment, uh, to be making money for stocks to go up and they didn't now deal with the potential rate. So I don't, you don't have to just a general comment. It's not even rates it's so, so there's two things on those. Um, I have a chart. Um, it's great. It shows all the non-mortgage lenders from the early two thousands.Do you want to show us, do you want to know? I don't, I don't, I can't pull it up quickly, but it's like, uh, they peaked at like 64, 60 5% of the mortgage market and buy a 2007, 2008. They were like 1%. So they basically just died off and, uh, we're back at the training spot. And so these rockets that, I mean, they, they took, they took the mortgages from banks.Banks don't want to make mortgages because they can't compete with rocket. Uh, the problem with rocket is they, the pandemic pulled forward so much demand. So anyone who wanted to move all that house movement, all that pent up demand for moving that was probably pulled forward a couple of years. Uh, we also have everyone who could possibly refi reafied.Um, and so at that point you say like, well, what what's, what's the level going forward? Well, it's just whatever organic demand is. People moving around. A lot of that movement already happened. Now people are able to work from home. So where they might've moved for a job in the past, if things start to heat up, it's like, oh, I'll just work on the VPN now I don't need to move.And so it, it, there's a question like where, where is that demand going to come from? They've been floating on that for awhile. Um, I don't know. And so what banks do is typically when that happens, because they go into commercial mortgages because, you know, companies are always taking out lines of credit to, to finance operations, to finance growth.Um, you know, one thing we've seen is like, you know, a lot of people are going into car lending now. Um, but the big, you know, the big narrative in the space is like this buy now pay later type thing. Um, you know, and so if you just kind of like sit back and think about this, there's like four or 5,000 banks in the U S there's another 5,000 credit unions.Uh, then there's non-bank lenders, you know, kind of the idea. There is a, there is a lender with a pool of money for almost every single person who is credit worthy in the U S so when someone comes in and says, we have a new way of doing this, they're either stealing market share or they're sucking up the non-credit worthy borrowers that no one wanted to touch in the first place.And I think that's what some of this, the buy now pay later stuff is it's, you know, we have a new way of scoring credit, which there aren't any new ways, but they're just getting that, the unbanked who haven't, uh, who haven't been covered by this and in a boom, all of this stuff looks great. Uh, and then credit losses start to roll in and, um, you know, someone's holding.All right, one more for ya. Uh, M and a, I mean, you really haven't seen that much of that. A lot of these banks have had a nice appreciation in their price. They have, you know, more capital to do things really haven't heard much in a and in the M and a, uh, area. Do you think that's gonna stay the same or is there any potential areas or potential targets for, for, you know, for one of the big boys to strike?So, you know, the biggest ones in most cases are stuck and, uh, there, you know, there there's actually laws about how much deposit market share they could have in a certain area. So they can't keep acquiring, um, which is actually why you see them buying some of these FinTech companies, hoping to get their fingers into more of the market without actually buying into the market.Um, you know, but I do think so, like PNC just bought, um, they bought a ton of branches to get into like Texas and California. Um, you know, there's the big. You know, there's truest that big tie up. Uh, there's a couple of these, you know, if you talk to any banker, they'll say all the time, oh, we're, you know, we're always being solicited for MNA.It's just not the right deal. And, um, you know, I know, like there was a huge batch of deals that came through 2008 because the environment just got, it was difficult. And a lot of these bankers said, I'm done. I don't want to deal with this. I'm not getting paid enough to deal with this. I just want to retire and be done.And right now I don't feel like that there's the same pressure on the industry. Um, once that kicks up though, I think it's going to be a crazy way of again, because people want to get out Nate, one last one for you. I'd be remissed. Oh, you got one more? All right, let me go. Uh, I'd be remiss not to ask you about far.I would have loved your take on maybe not even stuff. I, but just like the, the FinTech neobanks at large. Uh, you know, it's um, so I always like to joke banking is the second oldest industry, you know, and, uh, it's been around, it's not going away. Um, I'm not sure there's really any new takes on it. So eventually a lot of these digital companies, they either end up selling ads or they become a bank where they're financing their own customers.And the thing that sets a bank apart, and it sets up in a credit union apart from really anything else is the fact that they have federally insured deposits that are almost free. And if you're levering things up, you need almost free financing and that's it. And so if you don't have, uh, almost free financing, you know, you end up, so we get calls all the time from people to say, I own a mortgage company and I want to buy a.How do I buy a bank? Because my financing costs are too high. So, you know, the natural evolution of those things is they eventually decide we need to become a bank because these financing costs are killing us. They'll never get to that same, that same level. And, you know, I, I think given a long enough timeline, that's probably true.A lot of these FinTech companies. Um, the other thing they're doing is they really battle it out in payments. Um, the big giant, you know, the black Swan on the horizon is the fed now payment system where the fed is actually been building and now pay later. That's good. Yeah, there it is. Yep. So that the Fed's actually been building their own instant payment system and it's supposed to be coming out in a year or so.And you know, the question I always ask when I look at these companies is like, well, what are they offering when the government, you know, when the government builds your product, it's like the app developer. Um, they're selling something on the apple store and then apple integrates that app and the new OS it's like, Ooh, what do we have?We don't have anything, two quick things here. I got one for my own. And then Paul Paul came up with a good question. Um, and this is the eyeball test for me. I mean, I just see more banks closing. Right. And are they reducing costs selling the real estate? Uh, Paul's question is what does a long-term outlook on bricks and mortar banking?And I'm an eyeball test. I say it's slowly going away. What's your take? Ah, yeah, a hundred percent. Yeah. There's um, you know, there's a threshold somewhere. I don't know where it is. So, um, a bank does derive value out of the fact that every time you're driving down the street, you see their buildings, every three blocks there, you know, it's like advertising, there's there's mind presence to that.The operating costs are crazy. A lot of these banks are not making money on these branches. So they're closing. There is a certain threshold though, where once you close enough branches, no one even knows who you are. And so then you're going to have to ramp up marketing, spend to try and combat that. But I mean, I know branch traffic in general is down 75 to 85% over the last few years.And, um, I mean the bank I bank with their biggest branch is down the street and I'll go in there. Uh, their bankers don't even show up anymore. It's just a bunch of empty offices at empty cube. Two or three tellers. I mean, it's, it's not a good luck. Yeah. If there's two or three tellers, one more for ya. So, um, who who's, uh, who's the bank it's, uh, let's say you really think this Bitcoin so gonna, you know, keep going forever and ever, and banks are solely, I mean, Jay, uh, Jamie diamond thinks is going to zero.Um, there's other opinions out there. What, what bank is it? The big boys, you know, who are the ones that are, you know, getting in there, doing the ARB, they're doing this. Is there, is there a play or am I just kind of overdoing things? I mean, I'm more on the Jamie diamond side, but I think the ones who have more technical capabilities are going to be the ones who figure out how to make money on it, wallet, wallet exists, you know?So, um, I think JP Morgan and Citibank could work to custody Bitcoin. Um, it's a feeble. You know, I, I know I talked to, I mean, here's a, it's, uh, it's across the state, but FNC beads, a sort of local bank, um, that they were talking about Bitcoin, it's a, bank's actually cheap. I think it's like 80% of book, 70 or 80% of book, a couple of times earnings, um, smaller bank, a couple of billion dollars, but you know, it's on their radar, but it's not like they're going to be custodying.The thing, uh, city, you know, city could custody at JP Morgan, all those guys. And, and that's where the fees are. Uh, it's just like a broken. We just glossed over the fact that Nate just kneecapped affirm. I feel like we just totally over that kind of, but, uh, or maybe not Nate, but Nate said the fed is okay, whatever.Uh, Nick tell him, Nick is the author of the banking bastards handbook. I mean, he runs complete bank data.com and we have a few people in our chat and say, Nate is a very smart guest. So we would definitely bring him back. Nate. Thanks for having me on always a pleasure. He's been coming on the show for a years.Always a pleasure to talk to Nate. The guy knows his stuff. He does. He does his due diligence right there. You got to ask him what was that one bank he always picked. Uh, bank of the Ozarks, like that one. Where's that one up with all the bags. I never liked that one. Uh, all right. Uh, it's eight 50. We got 10 minutes here before we'll hop off.Uh, we got to take your time. We'll do some ticker time right now. I want to start off with Laz our laser Luminari technologies for a very specific reason, because the CFO will be on advancing a wive today at like 12:45 PM. Eastern time. We're talking. It's a high flying stock doing some crazy things. Joel, do you have thoughts on that chart?Well, yeah, I have to get it live at my thoughts here. Um, I'll just say 2050. Keep your eye on Nat. If you're looking for more upside, take out 25 nail nail on head. It's got to get above there before it gets. I already wrote down some tickers from earlier on this show, somebody asked about Robin hood from like a half hour ago.It's moving. If we can look at who it is it I have not looked at it. Yeah, it was moving last night too. I mean, it's been moving down, but it's bouncing here this morning. Was there a headline or something? Cause it was really ripping last night too. If you look last night, multiple times before we're 35. I don't know if it was just somebody just getting in there.I mean, it's oversold, but this stock is hanging right out near its all time lows. And I always say when a stock makes a new all time low, you got to go. We haven't made that new all-time low yet though. So you have a book. 33 and a quarter of the all time low. It's got a hold there. You do not want. So if you're trying it here, you clearly know where your stop-out point is.So it doesn't get a bounce from here. I could do it could bounce off it. That's been holding it, which is good news right down here too long. It makes it nervous. But I don't know. You gotta, you gotta level. Yeah. Yeah. We should have flipped much more. See that more bearish when I took out 40, but it just hung there.Right? So then you have to take it into the report and then it had the report. So I don't think that you could get super excited about this until this gets over 40 and holds 40. And I still can't get this day out of my mind with this stock. What did the guy, you know, they sold a kazillion shares on this day.There wasn't a gazillion. And there was a lab, every right to do that. And the third day of that, you know, after it's public, like, okay. Uh, thank you very much. I just can't get that out of my mind. You know, old guys, if somebody asks us about Disney, I'm not sure. I know we talked about it for each of the last three days.I don't know if there's anything new to add here. I I'd like to be a buyer back of the one 60 level. Now you had the wash out. Maybe it should buy it, ran an initial dip and he'd be happy if you did it. I think he'll back and fill now here. So I do think you want to be a buyer of Disney. I think it's going to get started talking as a play on the metaverse and I think it is a play on the metaverse.I know we talked about it yesterday. Kramer was talking about all day being a metaverse play like on in the morning and then on his show as well. I mean, even the CEO mentioned metaverse, I mean, this is going to be a sleepy meadow. It's not even a sleepy one maybe anymore, but I think there, you know, the Disney plus knocked her down to give you the buying opportunity.I do think you should be buying the stip on Disney. I'd like to get it back. Three, three bucks cheaper, one 60. I don't know if you need to chase it or not, because it did just disappoint. Like you were saying, Spencer, maybe we're early on that trade. I think Disney eventually had benefits from the reopening.I think eventually it benefits from some increased content on Disney plus. And I do think it benefits from the metaphorDisney plus dentists. Keep your eye on this screen. 9:00 AM Eastern time Disney plus day kicks off exclusive trailers and all the new things coming to the platform that you're not going to out to put your kids are. I want to be long. It, I don't want to chase it up. Five bucks. Yesterday's low very much, but I don't know.I, I don't wanna miss it either. Okay. I like it down here. Let's do a few more here. Let's look at Scott's miracle grow. S M G I didn't write down who asked about it, but somebody did ask about it.I'm long Scott's miracle grow in the longterm account. Um, I bought it back when I had all that. I actually bought this a long time ago. I shouldn't even say that consolidation. Um, I've been in it for a while. Not a long time ago. I've been in it for a few months. Okay. So I'm in Scotts. Miracle-Gro I think I got in at 1 48 so I can look at church.Well, no, it's gotta be, I didn't think I, I don't think I bought it. Yeah. I'm pretty sure I'm in at like 1 48, 1 50. So I didn't buy it that long ago. It's only been down here for a couple of months. I bought it in this consolidation consolidate here for like a month and a half. Then you had the one 40 area, right?Yeah. Yeah. I've been, I bought in this whole consolidation area and I kind of was a little scared going through the report on it. Cause some stocks are getting killed. Some stocks are going up, but I was like, oh wow, let's see what happens. So it's fairly cheap. I mean, it's come down significantly here.This is used in so many different. They've got a lot of good products here. I I'm sticking with Scottsburg. Uh, I like this one too. I mean, I cannot believe the range for the entire month of October was seven bucks. Wow.Yep. They already kick-started it. Um, you see what, you know, you haven't had a precedent. I mean, there's quite a few red candles in here, but you haven't had a precedence of this many red candles in a row, and then you get a little, little bit of a green candle. And now, now you're working on a brig, big green candle.So I'm not gonna, I'm not going to drill down in any dailies on this one, but it's kind of looks like it made the turn. Right. And it wants to try and get back. So I'm a half of that move. So maybe, you know, longer term, not talking today or tomorrow, whatever, you know, get half back of that. Move 1, 1 94, 1 95, maybe a potential target.It sure. Looks like it's. The trend is turned at least on the monthly camp cannabis. Yeah. Oh yeah. That's, that's what it is actually. It's oh, that's the sexiness of it. No, it's really fertile. It's really for your lawn, but no one knows that though. Have you seen snowflake recently? S a S w for a while, you should check it out.Wow. It's coming back. A lot of these growth techie names, a lot of them have come back nicely. It's been running though too far now. So now you're chasing, I think trends your friend has got an Easter. Yeah. Uh, let the, all you got, you're traded three trading, right near an all time high, right. You're trading at 3 77 92, a one number one number only 3 77, 13.That was your all time high back then. And, uh, your all-time closing high was right up there. So it holds 3 77. Boom, keep going under 3 77, they didn't have earnings or news today and this, and this is 31,000 people there. The people are trading some volume, right? That's good. That's good to say. We'll do a couple here real quick.And they're both retail. We got asked about Kohl's and Lulu, and I believe I know Kohl's reports next week. I don't know if let's look at one, the weekly reports and then maybe they already to data. That's that's fine down here, but we've got retail earnings next week to start with KSS. And then let me find that when well it's been a move and you're right up, back at the 60, this has just been the level of all levels to go back early 21, we've dropped 60 failed.We just came up to 60 back in September fail. Now we're back to 60. Again. Third time of charm may be a continuous higher, but you're at major resistance right now on KSS. Joel, K S S Coles. Thank you for alerting me. Yeah, you got a triple top and 60 also back in late August 60 was a really relevant number.And on a downside, you got to lean on 58. So that's what you're looking at. Just got to get rid of that seller at 60. Now your buck buck 40 a week. Uh, in order to get that level under 58, uh, looking at some potential downside there and yeah, we lose off cycle. So I don't know when they hell when they hold they report, these guys are, they always do crazy, uh, crazy times.Um, let me see if I get, I know there's way more comments than I could get to. I'm sorry. I'm sorry. Okay. Well, I do a quick preview. Um, I have, uh, I have Sean Udall, uh, coming on and if I know you're busy on five gashes excavation, I just emailed you the link. So if you want to hop in there for a second, we'd love to have you, if not, no big deal.Well, the next Friday's option expiration almost gave me a heart attack. I seriously like, just like what I was like, okay, I get that. But I was like, I thought this was the third fry. I was like, did I miss a Friday? I literally like was just going to like jump off the chair right away. Cause I'd have a lot of prep to do.If it was third author Friday. Third Friday of the month is a bread and butter day for any efficiencies. So that's, we're going to talk a reveal, revealing MQ, a R R Y. And then I'm also, we're just going to talk about, um, how stocks move on earnings per share, you know, EPS reports and, uh, and also some companies that are perhaps at an early stage of development.So join me over on pre-market prep. Plus Spencer, I'll be talking to you later on Dennis. Go get them. Joel, see you later then it's actually, I will see the rest of you guys later as well. I'm going to bring Mitch on now and we're going to maybe try a new setup where we let Mitch, uh, do his own. Stocks to stock tease, watching segment at the end of the show, maybe on Fridays.Um, so let's get money Mitch on. Now he's going to run through stocks on his watch list. And while he's doing that, Mitch, good morning. I see you there lurking in the background. Um, what's that man, uh, while he's doing that, I will also hop off and prepare for our next show, which is going to be an all access show, which should go live.And around 9, 10, 9, 15, uh, today. So Mitch, good morning. What is on your radar? Well, first thing is first. I want to definitely give a thanks to, to tour to her. We'll see you later. I hit that like button and uh, yeah. How, how the heck did the dolphins when last night, right, right there too. Coming in. That's what it was all about.Number one, baby. Let's keep going. All right. I'm going to step off and I'm going to, I'm going to let me run with it and guys hit the like button for Mitch. Let's go. That was what you thought about. All right, going to catch up with the chat here. Also want to stay with you guys. You guys determined a lot of the stocks that I'm going to go over right now.So always every single day, put those stocks that you guys want me to cover. I'll definitely go ahead and nail those. Uh, let's go ahead. Let me bring up my screen here. I'm going to go full screen here so you guys can see what I'm looking at. First stock up is going to be D K N G. Of course. Uh, we've been looking at draft Kings fulling back yesterday.We got, uh, the port NOI response. I don't know if you guys saw that. Definitely check it out. If you miss that. Uh, Dave Portnoy, uh, responding there. So today I'm looking bullish DraftKings, uh, you know, we have multiple lows in the same area, uh, right around that 40, 89, 40, 90, uh, 40 fifties is the low that I don't want to see bright today.I would like to see a little move down maybe to the fifties, but. And getting back above that high, uh, that we have yesterday. So the high is 41 75. Let's see if we get back above DK G levels today. Hen we can take a look here. Um, let me go ahead and put this full screen here so you guys can see a little better.Uh, so Penn, I'm looking for a reversal through 60 today. Uh, you could get a little dip first down, maybe towards the 57 40, uh, but DK and G looking good. Another one I'll give you in the same industry that I think the chart looks better is specifically this one, uh, G a N a the gambling sector, looking for this one to get up through 1450, get on up there towards the 1550, and maybe up to 16 today.You can see that trend line, draw the box out for you so you can see that. All right, catching up with the chat. What's going on out there. What about Penn? We just talked, uh, just entered black sky and rocket lab Noel talking about, well, Noel, I got some news for you. Um, so here you go guys. Um, it's totally not what you want to see.Uh, but rocket lab is pushing back their launch here. Uh, so we're holding off on the launched today out of an abundance of caution. So the next. Launch opportunity would be November 16. So be careful with rocket lab today because it was supposed to have that launch. And now it's not going to, so I think this one might drop today, especially because they're pushing back the launch date.Um, we were looking for this to give this a run today, our K L B D K S Y. And for that being mentioned, definitely come the specs attack today. It's actually going to be our last specs attack. So you don't want to miss it guys. We're going to do some fun things. We're going to do a battle today, a black sky.We'll see if it keeps running, but really it was supposed to run off that RKL B because they were bringing two satellites up and now it's not going on. So just be careful, just want to put that. All right now, catching up with the chat what's going on out there. Uh, someone's talking about Q S perfect.I'll go into the next stock here. This is what I'd like to hear. You guys are staying with the stocks that I've been looking at. So QS is one that I've mentioned for battery plays. This has been a monster winner. Um, and we talked about this all the way back at this gap. Um, now we're looking to see if M V S T Microvax could get strong today.If we're looking at D Q S getting strong, I want to see micro Vass make a break through $10 today. So that's what I'm going to be looking a nice push up through nine sixties and going up to $10. So someone acts in the chat, what's a $10 stock that could make it. This is the one I would put on the radar.M V S T last one I have here. Um, we've got sundial. We can talk about, we talked about this one yesterday, right here on live trading. I talked about how this one could potentially make a run towards $1, because why? Because it did have that D listing that has been talked about, and also we got earnings. So earnings came out here for sundial.Uh, it actually did pretty well net earnings of 11.3 million for the third quarter of 2021, compared to 71.4 million loss in the third quarter of the prior year. Uh, they also announced here that's important, a share repurchase amount. So sundown may only purchase a maximum of 100. 2.8 million shares, which would be approximately 5% of the issued and outstanding shares.The program will commence on November 19th and expire on that same day. So that's going to be the next day that I would look for sundial to run. I think you might get a pullback here pass, let's say 75 cents and then get another breakout through that $1 as you get closer to that repurchase date, which is I'll repeat again, November 19th.So we're talking about seven days from now. I'm looking for a pullback. If you are seeing some push today, I know that a lot of people are going to be selling. Why? Because a lot of people were loading the boat in this area, looking for the breakout. And I think they're going to be selling into the move.So just be careful there or sundial and I'll keep on going. How's the chat doing?All right. So blink being mentioned, uh, Robert, thank you for the super sticker. Appreciate that. Uh, catching up with the chat, seen some tickers being mentioned. Uh, we'll we'll get towards SPACs attacked a little bit later. Just wanted to give you guys some insight to not miss out on that. So definitely give us a thumbs up.All right, let's go towards one last one. I'm going to talk about FUBU Vizio. And one that has probably surprised in lately is discovery. Discovery has been making a move on up. So let's see if this can continue. I've been waiting for a while. Monday was really the area that got me a little interested here.We were up here towards 26. I wanted to look for a pullback to 25 71. We got to pull back towards a low here at 25 98, but didn't get back towards the seventies. I haven't gotten in this one, but I'm looking for pullbacks. A discovery did pop up and this was all based. I think off the AMC X move that was coming down towards the shadow, but we'll see how that one continues to move.And the last expensive stock I'll bring an expensive one for you. Traders that I like. I love this chart. This chart is beautiful guys. Multiple times to get above you got one high here, two highs. Three highs. Now, what I always talk about, as long as the support holds from this point, we could look for another pushup towards 400, four fifties.That's what I'd be looking for on Monday. And this is looking good, more expensive stock, but good levels to go off of. We'll see how this one holds today. Three sixties is the area I'd want to see hold and we'll see if Monday can get ribbon. All right. That's probably going to do it for the stocks that are on my radar, but like always guys, you guys can stay with me on story investors.I gave a lot of stocks early on in the week they've already done well, and it's really not about how those stocks have done, but the process that I take always going after what I call the laggard play, trying to work backwards, Matt micro, macro to micro. So we work from sectors to industry. To the stocks and that's how I've been able to find these plays and not just only find plays that I know, but maybe sometimes find plays that I don't know, like let's say Billy, uh, Billy was one that I called out earlier in the week.It made a nice run, but this was a stock that I didn't know. And so this is how you find these stocks. A lot of the times it's working backwards versus forward. I always like to have more of a basket laggard approach, and we're going to keep watching to see how these run. All right. I got about two minutes left.I'm going to go ahead and wrap up here at nine 10. I'll let Spencer, let me know, but you guys can throw some stocks in the chat. If you guys want me to check it out, I'll run through there and grab some of these. I hate Monday. How is Monday? So expecting. Uh, well, one of the things is with Mondays that you guys know a lot of these have been doing well.A sauna is another one that has been doing really great, but I'll definitely keep an eye on that. Christian. I'm glad you got some good info out of sundial. Um, that's in very important, uh, info to have there and we'll keep going. Uh, so I see affirm mentioned multiple times here. Let's go ahead and take a look at affirm and see what we're seeing out there.All right. So I'll pull the chart back up here. Let's take a look here. If our M what are we seeing on this? It pulled back to the 50 moving average here. Um, and we're going to look to see if it gets back on up here, but I can tell you that you had one attempt to push on up through this level two attempts to push on through this level three attempts to push on through that level.And then you now pull back all the way towards the support. So it's okay if it holds that 1 31 60. Um, but if it's getting in between this real volatile area, so to me, this is a little bit too much volatility between one thirties and one seventies to go after this today, but it could easily come down towards that 1 30, 1 60, just as much as it can come up towards that one 70.Um, so I would watch this on both ways, but personally, I think this is too volatile of a name for me. And I would stay away because I would have too much risk in this name. Yes, it could have the reward, but for me, there's other plays out there than a firm, a cheaper one, K PLT also mentioned, uh, this is like the cheap version of a firm.You can maybe watch this one today. I like this chart better, less risk. And you also still got a good potential for reward. You could look for a move up into this area, risk down towards the low of that big candle that you see down here. Um, so we'll see if this one can get ribbon that's K PLT, a cheaper one that is maybe trying to fill this gap on up here.So let's see if it tries to fill that gap. That gap would come into this area here and we'll see if it can get on roaring that's. K P L T. All right. Catching up with the chat. Is there any other tickers being mentioned there? I see CrowdStrike Peloton. Uh, I could take a look at it. CrowdStrike. Let me take a look.I haven't seen that chart in a while. I'll try holding, uh, definitely one of the best if you guys, I like this stock before the pandemic back when it was trading at $50, this stock is almost a $300 stock. That's why you definitely got to stick with the trends. Uh, we, we had that feeling that security would do great.Crowd broke out of this play. Now's been going into more of this play. Let's take a look here at the weekly. What are we getting? We got one topping action. Two topping action. Three topping actions. And now I came back, tried again, but couldn't get above that to 90. That two 90 is going to be so important.We can't break through that to 90. Then I think we're coming back down towards the two 40. Let's see what happens today. See if we can get through that to 90 again, daily chart has a nice little support by two eighties. You don't want to see that break. You want to see us get above that to 90 and start pushing.All right. Honcho. If you didn't put Facebook 30 times, I probably would've touched it, but you did put it 30 times. So I'm going to avoid your call-out today. I'll go for GG P I instead, you don't need a spam. I'll find it. Uh, look at DDPI. This is a spec that could continue to make a run towards 1150s.We'll see if this one can continue to run. I got to. Finn's up. That's what it's all about. Uh, luminaire being mentioned also. So let's take a look here. Uh, LA LA Z R is actually a stock that I'm still in. Guys. I'm looking for this to hold above 20 today. We don't want to see a crackdown. If we do see a crack down towards 1870s, that needs a hold and I could take another add.Um, we will have the Amman later on Benzinga TV. So I don't want to say too much on this name. I've been in it for a little while since Monday. Uh, we'll see if this one could keep running LA Z RMarco. Welcome to the. All right guys, uh, going live in one minute from all access. Spencer's about to get you guys on over LIDAR sympathy. Yes, you can look at LIDAR AI. Uh, you can also look at ALS, um, but really what you want to see is a good deal. Come from one of these. Uh, so keep your eyes on, uh, on all those LIDAR plays.You also got eight E V a, just to mention some other ones there. Debbie much love out there. I hope you guys have a great trading day. Bill mentioning a name that I'm actually in right now, which is SPI. That's going to be the last one I'm gonna mention. I did get into this one. Yes. On live trading at five 15.Why did I get in on this name? Because of our community in live trading. So live trading actually caught the news as they hit the tape. They let me know, and I was able to make a reaction off of that, getting into SPI. And now we'll see if we can continue to run. Like I said, I give you my entry, which most people don't, that's why we're fully transparent here on Benzinga.So definitely smashed the, like, we'll continue getting these trading ideas for you guys and giving you an ability. It looks like, uh, Hendrix wants to join the stream, but I'll push them to the side here and I'll get started on my trading up next. You guys got all access with Spencer Israel, stick around.There's some great companies that you might learn from. So up next, we've got all access and we'll see you there. So next time, smash that like, and hit the subscribe bell below. 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Episode Summary:Elon Musk Sells TSLA SharesDIS EarningsSOFI EarningsBYND EarningsAFRM Earnings2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Marc Chaikin, Founder of Chaikin AnalyticsTwitter: https://twitter.com/marcchaikinMeet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://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.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Good morning, everybody happy Thursday, first things first, before we actually start the show, just want to say happy veteran's day to all the veterans out there, uh, in the U S and Hey, even otherwise for that matter. Uh, thank you for your service. And now let's start. Today's showcoming to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn. And this is a Val tile puppy here. Isn't it. And Dennis stick, I've been the petty. I will buy the stock for a pen, which everything that you need to start your trading dayAll right. All right. All right. Good morning, everybody. How are we doing yesterday? May well have been Spencer's portfolio reports earnings day. Cause we got Disney reporting. We got so fire reporting. What's talking about that. We got a firm we got to talk about beyond me. Uh, there are so many big movers up, big movers down as I go into my movers, told him Benzinga pro fossil group for some reason I'm 35% today, but we got to talk about open door.Right? We've got to talk about, uh, we, we should probably hit on the big IPO from yesterday. Vivian, we'll talk about that. Uh, once we will start the show by talking about Tesla, I would imagine, um, Ilan did what he said he was gonna do. He sold a lot of shares. Uh, this week, Monday, Tuesday, and Wednesday. Uh, those filings all hit after hours last night.We'll talk about them. What they mean, what they don't mean and maybe what will come. Down the road from Ilan, but first let's bring on. Oh. And also before I bring on Joel, our two guests today, mark shaken. It's been a while since we've spoken to mark and mark will be on the show at eight 15 today, and then Peter Tuckman, the Einstein of wall street on the show at nine.But first let's bring on Joyal Connie and his charts. Joel. Good morning. How are, how are we doing today? I got a new nickname for you. Oh gosh. Yes, no. Yes. Chipper. Okay. Yeah. Cause you're only so chipper now I, in the morning you're like, oh yes. And it's like, I'm only excited on the days when there was a lot to talk about on the days when there's not a lot to talk about, I'm not excited.You know what lately. There's been a lot to talk about. Let's bring up the charts here. We're up 60 in a quarter handles by the dip works for the 47,000 time up 16 and a half handles 58 50 pre-market high 61 50. Uh, let's just see. Let's see if we take out that pre-market high and get back up to the close.Uh, the two day close at 78 and a quarter, a cruise on its heels. A little bit down 45 cents at 80 88 gold in the green by 12 30, 18 60 and a half. Serving the green to 21 cents. Knocking on the door 25 Bitcoin, the old make a new high and go down trick. That's down 6 45 and 65,430. And theory of futures are going the opposite way.You ARBs got to get this right up $81 and 25 cents at 47 31. Eden and let's bring in the best dressed man on wall street. Yes. I even changed my shirt. I was going to go for the third three days in a row, but Spencer advised me that I shouldn't wear the Benzinga shirt for the third day in a row here. So I went blue for you, Joel.And you know what I did last night. What'd you do for the first time? Since February of 2020, you went through Michigan basketball game. Exactly. Yup. Yup. And they won. They look okay. No, they didn't look good. Come on. They didn't look good. I watched a little bit. They don't, you don't need to look good against the Buffalo Bisons.Did you see how many players he put in there? He rotated a lot by the time I would say 87 and a half percent people were, were wearing mass and it was fun. It was fun. So yeah, back to the first indoor sporting event, when I'm going to a concert. But a lot of singing going on at concerts, a lot of shouting at matches, a lot of stuff.I don't know, what's worse singing or shouting. So I'm not going to hear those things. Are you getting killed on anything today? Ah, you know what, actually, no, it's just like the first day, this week that I'm not slaughtered on something. So I'm sure the longterm portfolio I'm slaughtered on something.There's a lot of stocks moving down 30%. I probably have one or two of them, although I don't have the Disney and I called that one out. So we should start with that. I tweeted out right before three minutes before I was like, I was nervous about this report and I was worried, you know, I've been there nervous and it's talking about it.The duty to start with you on, please. No,we didn't read. We got to look and read the right thing. It's right on the screen right now. It says, follow the script. We didn't look, we jumped right over Ilan. Cause we talked to you on forever. I got sick of talking and we were talking at the pre pre-market show when we were prepping it. So I kind of thought we already talked about it, but we had talked about on the air.So let's go Ilan south. Yay. So yes, Monday here. Here's the timeline of events Monday, you know, mock exercise, a little over 2 million stock options, uh, sold about half of those on Monday, Tuesday, and Wednesday sold another 3.5 million shares. Uh, those. Sales were worth around $3.9 billion. So in all he sold a little less than a $5 billion worth of stock over the last three days.Now, some of those sales were pre-planned. It says it in the final thing. And I can actually share my screen and show you the show us where to get this, these numbers because of your subscriber. Benzinga pro. And a lot of our listeners are show us how to, so I'm on like the Benzinger pro home screen right now.I'll go full screen here. I'm on like the Benzinger pro home screen. This is the default screen for everybody. I went to newsfeed. You had a newsfeed, you change your sources, or I've got been single wire. I'm going to uncheck that. And I'm going to check S. Okay, Don, these are all your sec filings. And then I don't, I don't care about XR, TX or lucid this morning, but I do care about Tessa.So I just search for Tesla here on the top. There TSLA. Oh,And so the first one you will notice here came out at 6:24 PM. Last one I tweeted, right. This was the one that showed him, exercising his options. Uh, and you can see here, if you scroll down, it'll show you, uh, uh, you know, all the transactions. These are from Monday, right? These are all transactions from Monday.Um, part of that original option options, expiration, uh, no, not exploration, um, exercise. Thank you. Um, and, and yeah, so, and these were pre-planned the, the, cause it says it right there, right? Boom rule 10 . Preplanned sale. That's what that means. I look when I was adopted, look when it was adopted September 14th.Yep. Boom. Right. So, so I just, you know, and, and obviously, you know, we've got a lot of people on Twitter saying the same thing was he put up this poll last weekend while after September 14th, should I sell my Tesla holdings when he already had the plan in place to sell the poll in itself was just BS.Basically. It was for fun. It was for fun. So I, he already had the plan in place. Maybe if the poll was negative, we would have pulled the plan. Maybe that's the case. But the plan was well before that Twitter poll came out. How many shares was at, do we know the aggregate for today? Uh, yeah. For all the days to, uh, yeah, we're what two, a little over 2 million shares.And that was on a Tuesday. No, no, this is Monday. Ooh. I haven't even gotten to Tuesday or Wednesday yet. Oh, there were 33 million traded that day. So if you got a piece for 2 million, that that's a decent chunk of the volume, so that was Monday. And then you go to all the rest of these filings. This is, this is all Tuesday and Wednesday, right.And these were not planned. These were not part of the 10 B one filing. Okay, let me get rid of that there. So, um, again, uh, uh, about three and a half million shares, uh, sold between Tuesday and Wednesday. For about $3.9 billion worth of, uh, shares. And so now the question is for first off, and this is what Joel was saying, uh, Elan is well within his right to do this.It's the only notable cause the guy literally never sells. Right. He hasn't sold. I think in like five years, I watched the filings closely. I never see Musk drop a filing. He cause he never sells so here, but here's the deal. So how many shares have been sold total? Like in the last three days that we know of from the sec filings, um, do you have that number over 4 million?So 4 million shares he owns and he can see in his trust he still owns 166 million shares there at the bottom of that's the last one. Yep. So, and it was 171 I believe. So you're right over for a million shares. But if he says he wanted to sell from the Twitter poll, he says, should I sell 10% of my whole.That's not 4 million shares. That's 17 million shares. So there could be another 13 still to go. If he is indeed going to sell 10% of the holdings. So this is not 10% of the holdings. This is about 2% of his holdings. So there could be another 10% to go. So just, you know, being careful here because the stock is repping thinking, he's done, it's up 27 points thinking he's done full disclosure.I do have a small position on Tesla. It's really minor. I should just cover it so I can freely talk about it. Um, but cause it's just the leftover odd lot actually. Okay. Okay. I've covered my Tesla due diligence. So I just, I, it was literally, it was a little piece of an odd lot. I didn't even realize I still had, so I had shorted this, you know, last night after it popped 30 bucks.Cause I thought this was stupid that it was popping $30. It hasn't come yet. So, I don't know. Maybe it will come in. Um, I just want to be able to talk about it while I reinitiate the short on Tesla. Maybe I don't get it. I don't get why it's up 28 points. I don't get something off and do take a position on it.So I don't know what to say. I don't understand. So now I'm flat Tesla. Um, so now I'm going to freely talk about, I don't understand. I don't understand why it's up 28 points when he's only done 20% of the sales he was going to do. Does everybody think he's done? Is that the reason I'm asking you guys?Yeah, I, I don't. I also don't know if it wasn't, uh, if it, I mean, doing the simple math and it's uh, no, if he's going to go and he said, w would abide by that pole. That means he's still got about 13 million shares to sell. So that means he might be selling today. He might be selling the next day. He might be selling the next day.I mean, it's taken him three days to get rid of 4 million. So if he's got another 13 million ago, he could be doing this for another week. So I don't totally get why we are rallying here. Um, but it's up, it's up 27 points. I may reinitiate the shirt again after the show. We'll see. I don't totally understand it.Uh, but you know, when I don't understand something, maybe it shouldn't be trading it either. So yeah, I, it ripped and roared after the filings because everybody maybe thinks they're done. But when you do the math on. I don't think he's done selling chat. Chad says they agree with you. I think, I think there's more filings to come and, you know, what's popping up.My sales could put pressure on the stock. So I think the 27 points here as a gift, to be honest. So I ha I haven't had time to drill down on my levels yet, but, uh, I do have one, one level in mind, uh, that I'll discuss with Ilan later on, uh, moving forward. But, uh, it's a nice bounce. Got to 1120 that you pre-market high.Uh, the volume was pretty big yesterday. Uh, dipped under a thousand was bought. I would, you know, if I was still on this and I was like taking the whole Ilan factor. I wouldn't want to see you go read today. I'd let you know, 10, 10 67 95. I'd be like, man. I said an out those two days, and now it's getting the bounce.I don't want to be, you know, at what about 1100 now? Um, you know, is that, is, could that be a level like institutions that are longer zillion shares? They're not gonna say, you know, they don't have to file it, but they'll say, wow, man, I miss 1200. Maybe it'd be good to peel out of a couple million at 1100.There's no direct level there, but you know, if it gets to 11, 10, they hit Samba 10 90, it hits some. So he might not be the only one selling out there. But, uh, th that, that close is pretty important. 10 67, 50% retracement of the full move, 1243. Down to 9 11, 15, 11, 15. That's the one I texted you. Okay. So 1115.And that's where we struggled here in the pre-market here as well. So, you know, obviously we got to 1120, it looks like at four o'clock in the morning and everybody got so excited, so excited. Oh, Elon Musk has done something. I better buy, let's do the math. The math says he's not done. So the math says, I don't want to be long.And yet if he's not done, I put it. We put a poll on the chat 82% and say, no, we don't think we may have slightly influenced that poll because we just said, we think he's not done. And then we did a poll, but I don't think he's done. We don't know. Maybe he has done. Maybe, maybe the filings are still to come maybe already solely, you know, it's a good point.You know, it's up to, you know, I may have sold more Tuesday and Wednesday that we haven't seen yet, but I think he still got more. I don't think he's got this all done here in the matter. I mean, it's such a battle. I mean, man, the guy built a company, but the stock people should just like, forget about it. I mean, if you're allowed to stop, well, I don't care.I'm not saying he's doing anything wrong. Although when he put out that poll and it was, he had a pre-planned sales already in place, it's kind of a little bit stupid, interesting to say the least, but he can do what he wants. I have no problem with them selling stock. He's held the stock forever. So sure.I have no problem with that at all. I'm just saying if he's still got 14 million shares to dump, the stock probably is going to, you know, maybe give up these gains. So we'll see. Is what's he buying? What's he putting his money until, okay. Well, first things first as he's paying a whole lot of tax taxes.Yeah. First thing taxes. He's borrowing taxis and they know what, maybe, I don't know, maybe a dump it into space X a, I don't know. Um, right. Fig 16 minutes. Can we move on now? Well, now we got my chicken. Yeah, we can move on with mark. We'll see what mark has to say. He's been around wall street for 25 years.More than me. He's been around for 75. So come on, what's mark. Half this, I don't know. It's asking mark shaken the founder of Chaikin analytics and the, uh, chicken, uh, power gauge and the chicken, the oscillator, and any number of other indicators joins our show. Now, mark. Good morning. You're don't expect me to talk about Tesla, dude.Doesn't matter guys. Come on. You know, the stock has, has achieved critical mass it's it's got liftoff and this is all short-term chatter. Absolutely. Absolutely. If you believe in Tesla, you gotta be our power gauges bullish for three months. And, but I've got some interesting ideas I want to talk about that are not Tesla.Okay. Let's go. Let's go. Three stocks, unity software, big lowing yesterday after the earnings everybody's talking about the metaverse Facebook has actually done unity, a big favor by renaming, uh, and focusing people on the metaverse. But unity software is a killer stock and they announced an acquisition yesterday of the largest special effects studio.And they're making money in the metaverse right now they enable 3d gaming developers to get into cross platform distribution with advertising built in, but they're actually using augmented reality and industrial applications right now in the construction industry and the automobile industry. If you believe in the metaverse and I do, I think this is a very, a concept that has legs going forward.I think you have to own unity software. You talked to you for a second about the metaverse here for a second, uh, because you know, you're up there, you know, with me and, you know, Lisa and I had a discussion going up to the Michigan basketball game yesterday and, uh, and we were stuck at track. And I said, can't you wait, you know, in a year or so, you know, maybe we won't get to season tickets.We'll just be able to sit at home in the metaverse and you a couple of years, whatever, and watch the game. And she, she got very upset with me and she was like, no, I'm going to the games. I, uh, you know, this, this whole med I've been mentioned, metaverse in my household for about three months and everyone's been poo-pooing me.And now it, you know, nowadays all over the place. I mean, I guess it's, you know, I mean, would you, where do you see, I mean, there's a generational shift. This is definitely we're moving up and out. So this is just a, it's going to be a generational shift. And this is a, this is here to stay. What do you, what do you think about 100% and the, um, you know, the, the trend was accelerated with the lockdowns that we saw, where people got comfortable not going out.Although I think they are going out to concerts now. Houston, uh, being a horrible, tragic outlier, but I don't know if you know, we've had, I go back to the 1950s, they had 3d movies where you put on glasses, but this is serious stuff. A construction manager can walk through a building site with an engineer and with these goggles on, from unity and actually see where a duct is going to go and how that's going to affect the floor plan.You know, this is so, you know, I always like companies that are making money before the trends. So in the metaverse you have, we have in video because you know, the chips are key and the AI stuff is key, but I love unity. I love the price action. Um, and there was a while day after the earnings were reported, the stock had traded a new all-time high sold down 20 points in the morning and then rallied to make a new all time high.And then. With Kathy woods selling a significant part of her position. So, uh, sometimes they sales don't mean anything. You know, if you know, and Musk was selling his majority position and not going to be tweeting about the company anymore, then I'd be very concerned. But you know, I, Musk is going to continue tweeting positive things about Tesla, and they're going to have free access to capital, basically forever, as long as he wants tweeting and they keep delivering cars.So I like unity. And then the second stock, I like it's the first time I've talked about a Bitcoin stock is marathon digital marathon marathon up here, the miner. I love it. I love the story. I got first got into it when I was out at the Stansberry Las Vegas conference two weeks ago, recommended the socket 53, it to the conference.It ran up to 86. Uh, I guess on Monday and now it's pulled back to the 65 level. The story here is really compelling to me. They mined Bitcoin, they had 30,000 quote unquote minors. I guess those are the computers that, you know, do the grind. And they're upping that to 133,000 miners by the second quarter of 2022.So at current prices, they have the ability to mine, $2 billion worth of Bitcoin every year. And if you think Bitcoin is going up exponentially, as a lot of people do, uh, then this is a really leverage, interesting play and very liquid. You don't have to open a Coinbase account if you don't want. What happens when the mining's over.I mean, once all the Bitcoins are mined and we're at like 17, whatever million of the 21 million that are going to be an existence, what happens after that? And I, I, you know, obviously I'm not a crypto fanatic here. I'm just, you know, wander on these miners that are all making a lot of money mining right now.And there's actually obviously competition for them too. We've had Frank Holmes on this show multiple times to obviously as high blockchain, which I own as well, because blockchain is, is a competitor as well as more and more competition comes in like Frank and put the analogy out there. It's like a drop puck, you know, and everybody's trying to get it, you know, and I just wonder if the competition continues to get so intense.If eventually we have an issue in the long run here that there's this a lot of competition, obviously, once the Bitcoins are all mined, isn't that. Yeah. Like how does it work? I guess, so marathon digital has 500 million worth of Bitcoin on their balance sheet. Some of that they bought in the marketplace, some of that they mine this year, but let's, let's assume that there's a still two years left and they can mine at current prices, $4 billion worth of Bitcoin.Compare it to the current market cap, uh, Bitcoin doubles. Now you've got $8 billion worth of Bitcoin. What are they going to do with it? Well, they can sell it. You know, they own the Bitcoin. They can sell it and invest in who knows what NFTs, uh, augmented reality. It's, it's, they're building up a pool of assets that are in demand right now with no end in sight.You could argue that Bitcoin is an inflation hedge for the younger generation. I guess it just continues to have to get this having in this having, which makes you want for the longer term. I, I think this is really interesting play. They're doing it here in the U S and Montana North Dakota is a little bit in Canada.Uh, and it's an interesting play, very volatile stock. I think you got to buy it on the dip. I like where it's come down. Joel, do you see a level of support level here on the, um, it broke out from 65 and I'm looking at that, the chart here and it came back down there yesterday. So I like when you have a, you know, old highs, uh, you know, as new support.So we'll take a look at that. Uh, I guess no, one's concerned about energy consumption anymore or energy usage, I guess that's no one mirrors maybe in Wyoming and in Montana, they don't care about, I never really totally understood is the, this is green energy understanding this. I don't totally get it, but I mean, we've had mark use gone the showed arguing that, you know, this is green, but, uh, that they, because they use, you know, obviously more efficient energy sources, the not coal mining adherence.I don't know, I I've, I kinda still think this is a waste of energy in the long run, the whole Bitcoin thing. But I guess if you think it's going to replace the financial system, which I don't do not believe that, and I own Bitcoin full disclosure. Um, so, you know, I'm talking against my book here, but I've always wondered the whole energy and Elon Musk has wondered this as well.You know, he, obviously he tweeted a year ago, you know, when Bitcoin took the dump that, you know, he didn't know if he could get behind it because of the energy concerns. So I'm not sure how that I'm clearly late to the party here in Bitcoin and Ethereum, but I will tell you, I opened up a, um, Coinbase pro account for my granddaughters.Oh wow. To try and build a college fund. And, you know, I had an alternative, I could have bought stocks, so I would probably would have bought the spider and the QQQ in equal amounts. And in 10 years, what are they going to do? Are they going to do. Whereas Bitcoin and Ethereum have the potential to go up 10 X now, will they do it?Is there a reason they should go up 10 X? I couldn't tell you that. But that's what the young people think that, you know, the, whatever the gens are, gen X, millennials, wherever they are, they believe in this as an alternative to a, um, you know, a central bank based system. And the more you get into privacy issues, the more it becomes relevant to them.So is it a store of value? No. Is it inflation, hedge maybe? Is it an alternative currency? Yes. And you've just have to find the safest ways to play up. But my point about opening the Coinbase pro account, I've had online accounts as you have Dennis with trade station and Schwab in the beginning and so forth.I pick up my iPhone and in a glance, I see what these, you know, the top five, uh, digital tradables are doing. And I see a mark to the market account with all my information. They make it so easy to trade and transfer money in from your bank and back out again, that I can see why the younger generation is getting hooked on this.They've made it easy to get in and out. And whether you're an investor or a straighter, yeah. Also the 24 hour market, you know, you're not, you're not, you're not dealing with gaps. You know, you're not, you're not talking to my one buddy who was re is real active. And he's like, yeah, I, I never, you know, there's no never gaps.It's like, boom, 11 50, 9, 59, and then boomer rolls over. That's why, you know, that's why I filed the futures. I know sometimes they're out of sync with what happens during the weekend, but at least I got it open. I got a high, I got a low, I got a close. I mean, I can't, you know, unless I can automate my Bitcoin levels at 1159 and 59 seconds it's top.But it's, there's a lot of things to be said for that. Is anybody doing good Bitcoin? Yeah. Technical analytics. Yeah. Oh yeah. I'm sure that's a good shirt. Yeah. Uh, like quantify crypto to does some good stuff. I know we we've got their heat map on the platform. There are a few other names. I can't think of them right now.Um, there's one that I had opened for a long time and I'm someone was using Chaikin money flow early on with Bitcoin. But, um, we were looking at it. I think, you know, if, if, if there's nothing there in terms of real value, then technical analysis has to be a big. Yes. Yeah. I think it's all technical, but I really think where you hit the nail on the head here is the inflation hedge.I think you've got money managers that see the CPI number yesterday and think I don't want to hold cash. So I'll hold Bitcoin as a cash alternative here, because at least that should hypothetically, you know, try to keep up with inflation here because we know the fed just keeps, you know, printing money and printing money.And, you know, we can argue, you know, Peter Schiff was wrong for a long time, but let's look at what's happening here. Now we've got inflation. You know, you can look back to Peter Schiff's book from 2006, uh, crash proof and say I was wrong for 13 years, but the pandemic has, kick-started a lot of stuff that Peter Schiff talked about in his book where we do have inflation issues here.Now that don't seem to be going away anytime soon and the younger generation and even myself see crypto as a hedge against that inflation. I think that's the real driver. Yeah, I do. I, you know, if I have the choice between Bitcoin and Ethereum, I would. Opt for Ethereum, just because there are transaction-based blockchain, practical uses practical uses, but, um, they're going to go hand in glove pretty much.Um, the other thing, since you brought up inflation, you know, moderate inflation and low interest rates, it's really bullish prescription for the stock market. And, you know, sure. The 10 year yield went up yesterday, but the fed is not going to do that. If the market decides to do it, the, the federal step in at some point where they think it's gone too far.So I'm, I'm still bullish on the market. Overall, even though we've gotten into my 4700 4800 range as of Monday, uh, because inflation and low interest rates is incredible prescription for, uh, you know, there is no alternative, it's a Teena market. Uh, that's why I stay, you know, somewhat, fully invested here too.I mean, I was up to, you know, back in the summertime, I was up to 40% cash cause it was nervous, but then you just start analyzing you think I can't be that much cash because where is money going to go? I mean, I just see, it just keeps trickling into the markets and obviously into crypto as well, but it's trickling into alternative investment classes, trickling in and everything except cash like us dollars.Yep. I'm with you. That's exactly my scenario too much cash in the summer and close to fully invested. Mark chicken is the founder of chicken analytics and shaking money flow on the chicken power gauge and joins his every other Thursday to talk about the markets. And he's still, Bush is the answer is the summary here.Mark, I'm always a pleasure. We'll talk to you in a couple of weeks. No, actually Thanksgiving as a couple of weeks, let's reschedule. So let's reset. Let's not do that. Oh, eight 15 in the morning.Me to work every day, I'll be up roasting turkeys or whatever your alternative. It's not going to be beyond meat based on the earnings. That's a good segue. He just gave us her segue into the script. Dennis scheduled. Hold on, hold on, hold on real fast. Uh, cause the Chad's asking for th th the three stocks, it was unity.It was. And what am I forgetting? What's three. I didn't mention a Doximity docx. They also, here's a company that's actually making money in telehealth as opposed to Teladocs, which has lost money for 19 years. And the CEO was on CNBC yesterday and he really makes sense. This is his second appearance. He came on after the first earnings report.Now he came on again, this guy knows this business cold, and he's very non, you know, non hype non-promotional. So one thing really got me excited about it. I have a position on it. Uh, they, he talked about how one of their monetization paths, they put up ads from hospitals, from medical practices that encourage people to book appointments.And he said that the return on investment for the ad spend is 17 X. Whereas in other venues, when they do this, they get two to three X. Wow. That tells me that all of the, that more and more of these people are going to be using the Doximity platform to drive revenue. And, uh, you know, this is a great business model.And, and the one other thing that I love about this is their retention rate is up around 170%, which means that their client base the 80% of the doctors in America who are on the planet. Are you using it more and more spending, more and more money on the platform? This is a, this is a very longterm stock and it's highly volatile.It dropped from a hundred. Yeah. Don't look at it. Don't trade it. Don't look at that. Got it. We got it at Lisa picked this one up. She was supposed to get some shares. She told me we were supposed to get some shares in the IPO and I'm like, Lisa, we don't have a fidelity account. And she's like, no, I can't.And then supposedly there was 45. I said, just buy it, you know, fit and forget about it. And that's what we did. Soit's, uh, it's, it's Facebook, it's, um, LinkedIn for doctors, for doctors. And, but, but I will point out that they have a lockup that expires tomorrow. That's six months lock up from, uh, the original public offering. So, and that's part of the reason the stock just sold. They sold down on a great earnings report.It was down 20% after the earnings came out on Tuesday night. Uh, and so who knows what kind of selling pressure the lockup will generate, but you know, any weakness in here based on that doc mark schedule a date. That's not.Oh, sorry. I just, I just cut you off. Sorry, mark. Just to put a bow on the, uh, the, the Bitcoin conversation, Dennis, I forgot to mention this to you yesterday, but I should have, and I will going forward on days when we get economic data like that, you have an instrument, you have a Bitcoin instrument. You can, you can use it as a hedge.You can go to BITM or a T L right? You can go Bitcoin. I don't know if you saw it yesterday, but you can go to that, right? It's that too. I keep forgetting about that one. I'll take a while to figure that one out with the stocks spiked off the number it's. So it makes sense, but then it's sold off too. So, wow.It's tough. Bitcoin is its own animal to a certain extent. So it kind of does its own thing and logically thinking, oh, inflation's hot here. I better get a Bitcoin. I mean, that would have worked for about a hot minute. And then they pulled the rug out from under it yesterday. So it's true. It's true. We skipped Disney it's scored to Disney real fast is the exact opposite of how things were last year.The rest of the business is, uh, is recovering and Disney plus is not doing so hot. They reported 2 million new Disney plus subscribers in the quarter. It was their, uh, their, their lowest number for new subs in a quarter since the service launched in November of 2019. Um, and it is a dramatic, dramatic difference from, uh, the growth numbers that we saw during the.Right when we're, when we're, we're seeing, we're seeing quarters of, you know, you know, 13 to 20 million new subs in the given quarter. Now 2 million subs, uh, new subs last quarter. We know that's kind of the only thing that, that investors kind of care about with regards to Disney. So even though the rest of the business is doing okay here, the slow growth Disney plus not what you want to see.The EPS myths, the sales data beat a little bit. Um, and then the call was at big meander and Callie talked about so many things. They mentioned the metaverse doing their own metaverse yeah, that'll work. But, uh, that's the magic word of the week or the month? Um, I don't know. It, it was, I didn't feel good about their, their, their report going in and, and I feel vindicated.I. Because specifically, and I'm going to pat myself on the back on this one here. Cause I have so many Twitter haters that say I get 100% of my calls wrong. So in this case I absolutely hit the nail on the head on Disney. Um, I set it on the show that I was nervous about this stock. I tweeted out three minutes at 3 57.I tweet out, I think the Disney plus numbers are going to disappoint. We will find out in a few minutes. They absolutely disappointed the stock is down 10 bucks here. So maybe I'll get one right out of a hundred, according to my Twitter followers. But I definitely got this one. Right? Um, this was low hanging fruit.You could pro you could just, you know, feel like just from watching my own kids, they don't watch it as much as they did. And they're the target audience. Even other people were tweeting back at me on that saying, yeah, they don't watch it. They don't watch it. That Disney plus has a serious content issue.The CEO set it on CNBC and an interview saying we're going to come up with better content worth more better. Because the content that they have is awesome, but they don't simply have enough of it. So they need more content. If they want to compete with Netflix, they're going to have to start building, you know, the non kit stuff out there, kids 3, 5, 7 years old, still liked Disney plus, but you're not getting the Spencer Israel's, you're not getting the Juul outcome to go and unsubscribe from Netflix and it gets subscribed to.But then I do subscribe to both. I have it for my kids, but if I didn't have kids, I would not have Disney plus. So if you don't have young kids, you're probably not subscribing to Disney. Plus the Mandalorian was awesome. They do have some more star wars series coming. That's going to be awesome as well. I love Disney's content.They simply don't have enough of it. And that is showing up in the numbers now. Wow. I got so many things that I want to say on this. Um, the first thing is her wish I would have put a date on that upper line there that 1 68 area. Bounce bounce, bounce, bounce, right? You could have bought it. How many times off that now you're busted through it.So now you, you want to get it, you know, if you're hoping to get a pop on this, I don't know. You know, it could always fill that gap at wa 1 74, but that 1 68, it's going to be loaded with sellers because that was the bottom of the range. Or then you look at the monthly candle there, and this is the candle I'm referring to you.Weight quickly ups for one 50 to one 60, I would get. And also you had any stops at the one 50 area. I remember that's where I would get interested in Disney as it came in to one 50 or if I had a long-term, uh, short in the issue also they were talking about the metaverse and I don't know, I don't know how that's going to do for your theme park business.People were saying. Yeah. Yeah. I just want to go to one. This is the last thing I'm going to say about the metaverse. Okay. This is the mess we are in the metaverse right now. Okay. We, we Dennison, I, along with the programmers at Zynga, we had to create the metaverse. Cause remember when we first started going to show Dennis, we could not connect with you.We went to how many different platforms remember that Skype and all these different things. So yeah, the metamours is nothing new. I mean, this has been, I mean, this whole show, everything we do, this is really, it is, so it's just getting started. We create Adam brat. I don't know if he listens to the show anymore.We drove him. Absolutely crazy. Good member, Dennis. We try to remember Adam Brett. We tried how many different platforms and we still switch every week. You still try and get us to go to what was the last one? Restreamyeah, the technology we use now, it didn't exist back then. Um, th that was that Skype for the longest time. And then Skype. How CA how did Microsoft best Skype out? I don't understand. Remember some Skype work, the Skype could have been so much more and, you know, we don't Microsoft the most valuable company in the world, but you're right.They dropped the ball on Skype. You know, it is what it is. I mean, you look here. The metaverse I think we got it. It's Disney going to be a big part of the metaverse. I think that's where we're going. Cause we're still talking to Disney. I think so. I do. I think that they can utilize this in their theme parks.I think that there's a lot of technology here. I do think Disney is going to be a big part of, you know, the experience of the metaphors. I think that the parks can be a big part of the experience. I love that storyline. I think we're early. On that storyline, they got to get past the Disney plus. Cause right now the biggest problem with the Disney stock and this is why I love the company Disney.I love the content they produce. I love the parks. The biggest problem they have is that they don't have a huge Disney plus premium built into the stock. That's getting shopped out of it to the tune of 10 points today, to the tune of maybe 10 points tomorrow. Um, it's tough to be a buyer of this company when the Disney plus is not performing.And it's such a big part of at least the story behind it. I know it's not a huge part of their revenues, but there is a 30, 40, 50 point premium in here for Disney plus. And some of that is getting sucked out of it here now. And so would I be a buyer at one 40 on Disney? Absolutely. Maybe one 50, maybe one 50, because you still got the parks.They are going to be a metaverse play. Maybe they will figure out Disney plus it's not going away. You know, maybe they'll come up with more content. Maybe they're going to dress. I liked hearing CEO on CNBC is saying we're going to come up with more content because I've been complaining about this for six months that they don't have enough content.So they're listening, they're listening to one of them, people are complaining about. Yeah, we'll find out tomorrow. Tomorrow is the Disney plus content extravagance. That could be a nice. If you're getting, if you're stuck on this and you want to wiggle out at one 70 or something, 1 71, that could be a nice pop, a nice fluff where they, oh, they got dig.Now they have great co what great timing they have the earnings, they talk about content, and then they have this. Now what a, what a dog and pony show. I mean, what timing for them to do that. But yeah, the last thing I'll say about the Disney plus thing is, uh, they did still reaffirm their V their long-term Disney plus guidance.They, even though they just missed badly on as far, as far as numbers for the last quarter, they still said, Hey, by the end of 2024, we still think we could have between 230 and 260 million Disney plus subscribers. So what they're saying is in the next three years, we're going to dump. We're going to more than double is what.That's it. And now, now it's a question of, does the street believe them or not? What are they doing with those parks? I mean, if you talk about a reopening trade, we're coming out of this pandemic. I mean, these park, you know, these parks should be picking up and they did, they did, but nobody cares about that tall.So that's just the way and they are, and we are, and it is a reopening play. And there is a buying opportunity on Disney. I'm not saying shorted into oblivion. I think the easy money was made just being short into this. And maybe you're covering today, but you are taking a critical support here too. I think it's got a date with one 60.I don't know if we're going to get one 50. I think I would be a buyer at one 50 in the long-term account. Um, you do have that pesky little low 1 60, 52 back in January. I think it's got a date with that. I think we're going to, could see eventually see once. Um, I just, just too much, you know, the reason that, uh, I will, I mean, yeah, you might get a bounce, one sixties, a psychological level.The reason that I don't put as much confidence in that is because of all the money. That like it held 1 68, right? I mean, there's a lot of people that took long. You guys took some longs over 1 62 Spencer, or you get in before the big pop there's a lot of people scratching their head. Now 180 1 90, 1 95.It just was up there too long, too much volume traded, you know, for it to just bounce a one 60 and go right back to 180. But we'll see. That's uh, we'll let Mr market tell us. But right now the pre-market law was 1 64. That's all we can base it on 1 64 0 4. So that's your level for today? The bottom of yesterday's range, if you see that get PKA man, 1 73 87 was, uh, was, uh, the low from yesterday.I'm sure a lot of people would like to see that. I mean, here here's a, and I've just got a message from a friend Paul, and he's saying the parks could go virtual parks. What do you think of the thought process of like a metaverse? Sure, sure. A Disney world. I agree, Paul, that's a great point and it just messaged me, but I agree.Um, I think. There is, um, a place for Disney in the metaverse. So I CA I, so looking here today, I don't think I'm coming in and selling my Disney shares. Now, I think you're suicidal. I'm ahead of the report. And I think you're finding a buy point in here because I do think, I do believe they will figure Disney plus out.They know there's a content issue. It's nice to hear that maybe they're going to come up more content. We know we've got some more star wars series coming. We'll have some more, a Marvel series coming. So there's going to be the, you know, they could fix that problem. And then it is a metaverse place. So I do think that the pullback today is a buying opportunity.I'm just not sure it washes itself out one day. What if they come out with a, a metaverse gate where you could go inside her, be the light. You can do all of that. The metaverse makes sense for Disney and the parks. It really does. So I think it's a matter, I think it is a metaverse play. I think Disney is a matter of our supply, so I think it does bounce back here.And it's an, it may not take that long. So it's on my shopping list. It was on my cell list yesterday. And now it's come that a lot of the Disney plus parents just losing probably 20% of the Disney plus premium that was in there overnight. I think there's a play in here to actually be a buyer of Disney somewhere on this pullback.I think you had it right the first time when you said it's a, it's a metaverse play, but it's going to take a long time. We're ahead of the story. But before people are saying, whoa, Disney is a metaverse play. You don't think of it as you know, they didn't rename their stock. Metta, Metta Disney. Yeah. Walter, Walt, would it be too happy all for that?Let's move on here. And you want to go to beyond me? I just say one thing I always wanted to go to blizzard beach, get completely soaked and go down that, that, that big Lisa won't go down. If I'm not going to do that with that's going to be no fun in the matter verse, how do you switch lanes illegally in the metaverse?I don't know how you get that sensation of being wet though, in the metaphor. Not yet jumping and jumping down the side slides, we've got to cover more than three stacks today. We would have to go all right, beyond me, w we'll go there next this was a tough one. I'm sorry to everyone who was in this thing, but, uh, the EPS, they missed quite badly.They lost 87 cents per share last quarter for us and asked me to pay 39 cent loss on their sales. Also missed 160, $109 million. They gave sales guidance also missed quite badly. They guided 85 to $110 million in sales for their current quarter versus $131 million estimate. And it will be also said on top of all that, yeah, we were, we're having some supply chain problems.So, and if you go into the store now you see the burgers are on sale. I see the beyond meat burgers are on sale. Now I know you, months ago you'd be making a lot of money, so there's a lot of money to be made. Just go into your store and look. It's still worth $6.2 billion, or at least it was yesterday. So maybe it's only worth five or whatever now, but you know, just putting, giving your perspective of how irrational this market can become at times Tyson foods, which is your biggest chicken producer is worth 29 billion.When beyond meat was at the highs, it was approaching the Tyson foods market cap, which has the entire, basically chicken market, you know, and here you've got an alternative to that and they're like, oh yeah, that's going to be all beyond meat while it's not. And you know what, it's coming to roost here.Now we've had lots. And, and, and what a gift, what a gift you guys had and gentlemen and women alike back in January when we had the short squeeze from hell on this thing, and it went back up to $221 a share. And that was just unbelievable that everybody who bought this thing off the hype back in 2019, we got 2 39 almost got their money back at the beginning of January, 2022.This year. So when you get those ridiculous short squeezes, you sell and you're going to get more short squeezes and beyond me, cause there's short float. Well, actually it's not even that high anymore. So it's already come down enough. I guess it's not that high anymore, but at one time it was a higher, a short interest dock.It's not high anymore. So maybe you aren't getting any actually, no, let me go check that. I was looking at the wrong stock. I was looking at Tyson foods. What's beyond me. Short interest is probably still high, short interest. Yeah, it's still 27%. So you're going to continue to get short squeezes in here.And those short squeezes are all cells in my opportunity. This is a stock and a clear downtrend. Now all cells to be sold. I like buying dips on stocks and uptrends like unity yesterday. Um, meet clear down trend. You got to dip here. I don't buy dips on stocks and down trends because they get dippy or just like Peloton.Hello? Why did we, was it lower guidance or something? When we went from like 1 0 5, 1 0 8, uh, nine. Was that lower guidance or something. And then look at that. Cause when you mentioned the gift for shareholders,I mean, I remember I told Lisa like six months ago, I'm like, just don't buy those things anymore. It was October 20th. It was a guidance, right? It was no, yes it was, it was guidance. Also. They told you it was going to be bad body posted anyway, hit, it goes up and fills the gap. That thing up there, who's doing that.Who bought that a one away? Why were we not looking at that and shorten the hell out of that Juul on that gap? Fill what a technical trade that was all the resistance up at one 10. They tell you it's lower guidance that comes back 10 days later because the market is just stupid at some points in time.And it fills the gap all the way up to 1 0 8. And now we're down at 77. What a gift, what a gift. Every single time. This thing rallies, it's a gift of mine. Hey that next. All right. Do you want to go to a sofa here? Yes. That's her? Yeah. Yeah. I'm back in. You said you were going to buy this out a good report.You said you wouldn't have no problem buying this at 23 or 24, right? You're right. I guess I actually, and I'm not, I'm not going to back off from that. I did say, you know, if it's a bad report and it goes to 1870, I'm not going to average down, but I could average of if it's a good report, I'm not, I'm not this isn't a trade.Right. If it was a trade would be different, but it's not. Anyway, the earnings per share was good. They beat the estimates, uh, sales, uh, beat the experts as well. Uh, so they added 377,000 new memories during the quarter that gave some guidance that came in prey, basically in wanted for the quarter on higher for the year.Uh, and all that comes down to a couple bucks, move higher, nice screwed this stock right up. I had it at 14 and change right near the Lowe's. I sold it at like 17 and change. Cause I thought it was topping out at 18. A dead came all back down to 15. Again, I don't rebuy it. And I look back at 23 and thinking, why did I ever sell at 17 and a half?So that's a problem if you're going to sell them and scalp, get back in, didn't get back in now missing the boat. So fire hot up near the highs, trying to take out the highs, but you were hanging out at the highs. So that's an important level. The platform Spence. No, I don't. Sorry. No, I just curious. No, I know.I mean, cause it, to me, it, I don't know a ton about the company, but it seems like, you know, like the banking for, you know, uh, you know, the what, what are you guys gen? What, what do they call it? They're running out of letters. Z is the current one is, yeah. Okay. Uh, pre-market high in this one, uh, that comes in at 24 and a quarter.Uh, you haven't been up there in a long time. You have an old, let's see what happens. I mean, you take out that pre you know, what happens when stocks blast off and take out the pre-market. I, you know, don't know where the heck they're going to go monthly high at 24 95. If you're looking for another target so far.So FYI, can we go to open door? This was going to be, this is so interesting because what we're wondering, right? Open door closed. Well, well, it's open now. It's open now, but what are they? What are they going to say? But yeah, you did, uh, ended up being a really good report or that ups B their sales beat, and they gave guidance of all the estimates.And the takeaway was that what happened with Zillow and the opposite end of the train, basically. Yeah, it, this is not a instant buyer business model problem. This is a Zillow problem. They screwed up open door is profiting from it. They're doing it. They're doing what Zillow tried to do. It was a pretty great report for open door.It was basically just an indictment on. The one issue you're going to have is you have massive epic, super duper resistance up in the 24 area. And that's where we kissed in that. Right after the report, you can see the big pop-up right. Two resistance points use these Joel cotton levels. They work a lot of the times in this case, it worked again.So you got epic, huge resistance above here. So it's hard to just come in here and be a buyer. I do like the fact that, you know, it's rallied and obviously getting it all back, but it's a stock that broke trend and I get back above it. If it could get up above 25, it actually becomes more interesting than at 23 and a half to 24.Joel, Joel, I set up perfectly. Solet's, let's move on to. I mean the strong, you just got to buy those storied stocks that are love you affirm. Those are the ones you buy in the depth, man. If you're buying a firm ahead of this report yesterday, you already get it as that Nat CEO says, good job, DEP buyers in this one. It's the same story.Earnings, good and guidance raised. That's all you need to know.1 76 65. Let's see it. Didn't get there. I got a little bit over 1 75. So 10 bucks off the high. You might have to pick an intermediate level, but uh, if you want to hold out for the old time, high 1 66 65, just three, pretty ugly looking candles here. So like your one 40 calls, there were absolutely worthless yesterday and they're now worth 25 bucks.I dunno. I dunno how you don't lock it in, but we'll see. I'll tell ya. I think both of these stocks affirm and unity, I'm going to throw out the poll, which one hits 201st. Cause I think they both become $200 stocks. So which one? Obviously unity has the lead. It's 1 78. This one's 1 65. And change. Um, I think it's going to be unity just because it's close to there.And that candle yesterday on unity was unbelievable. Stock down 9%. They've bought the hell out of that, then they didn't even waste any time. They could not stop buying it yesterday. I like both of these stocks, at least, uh, at least from technical basis. Okay. I got a chunk of this in like 21 and a half 22 and, uh, had a little bit for a swing trade and I pulled the dentist stock Woodstock MQ.Okay. Yup, yup. And, uh, 15% of this right now and I'd never, it just kept on. I just, I, I lost track of it. Just trying to pick it up off at a swing trade and still got it in a long-term portfolio. Never, never let it go, but nothing today, nothing today. And a little bit of regret up four sticks, uh, earnings for MQ last night as well.So, uh,Yes. What a dummy people are asking about Palentier. Are we getting the most love stock on wall street? Is it, this is a tradie rates, stock folks. So if that's what you like to do, then pick your range and stick with it. Right now that range is wide 22 to 27. You were just at 27 for 22, I would say even lower than that.20 21 22, your buyer, if you're thinking that this is just going to be the same type of chopping up, this has been you're exactly right. Joel, the kind of stock you want to sell premium on. If you're an option writer, it's the kind of stock that you buy and you're channeling or the chairman of that channeling stocks.com.You're right. 21, 20 22, probably a buyer 25, 26, probably a seller. The one thing I will say is that as an ugly two days, so it's not easy sledding. So you're going to have epic resistance up at 24. Now from the people who bought it after day one, Saint OPES, I was a little bit too early, so they'll want to get their money back.So they get up in the upper 20 threes is going to find resistance. So I'd be more inclined to actually sell the rip on this one around 23 and a half to 24, looking to bring it in around 21, you know? And I don't know how much is it going to affect their bottom line, but they bought a big chunk of gold number that goodbye.Yeah, they do. Yeah. We do know that. Check the prompts. It keeps going. Joel, the inflation on work, working silver gold. When did Palentier buy gold? I did not make this up. They also bought Bitcoin and they buy both. Uh, hold on. Let's look at the Crow. I don't even do we still know what they do. Do we understand what Palentier does they have government.But what did they, okay. They worked for the government for the government. They work for the government. That's what Joel, Joel, August 17th. Ooh. Yeah, August 17th. Right? Let's see where gold was back then. They're buying the dip in here, right? Look at that, maybe on this day or maybe in this area. So they bought a lot of it, but, uh, uh, anyway, someone just mentioned, they said they saw, um, uh, right at 15 and I, and I'm like, oh my God, it's at 15.We're going to get Marcus back on the show. The deal is what happened. And you're wondering why, what happened? Uh, they closed, they closed that deal with Foxconn for the sale of their facility. Yeah. When you're selling stuff, when you're selling stuff. It's usually a selling opportunity for the stock too.So, sorry, not a fan. I'd sell the rep. Uh, despite, oh man got the seven 50 Dennis. Yeah. So they've already sold the rip. I continued to sell the rep. It is nine o'clock. So, uh, yeah, you got your guest. I'm going to hop a triple D. I talked to your ed doctor. Uh, if, if Peter, I, I don't see Peter right now, but I know there was a lot more tinkers.We didn't get to, we didn't get to all offer pad in a few years in Chapman tonight, OPA D similar to open door. The report was also good. Fossil is your big gainer of the day, F O S L major inflation in watches, apparently. Uh, because it makes sense also just blue money Mitch pick from the last Monday. I can't, I can't remember all your picks.You may got, gotta stick on money, Mitch. I gotta, I can't, I don't write anything down. I don't even know. I follow money, Mitch too. You know, I, we get you started. He wanted me over at workhorse now. I always listen. When he throws me a stock. I always take a look. Sometimes I agree. Sometimes I don't agree, but when Mitch throws out a stock, I always take a look.Yeah. Anyway, it was, they, the EPA I'll bring up the chart here. The EPS. Well, here's the newsfeed EPS beat, uh, sales beat guidance res we'll look at, look at fossil FSL if your biggest gainer of the day. So like 30%, the big move. I don't chase mus, but you know, it kinda makes sense. People are buying stuff, man, buy and watch is alternative asset classes, alternative to cash.It makes sense. I wish I would've missed the money. Mitch. The trade was three days ago when he gave the pick on Monday. Wish I would've listened. I'd be up 33% right now. So that's all I can say is good job money match. Good pick. And then, uh, well go back to my movers tool. You can just see the biggest gainers, right?W we had affirmed, we talked about that. Affirm. Oh, biggest loser today. Uh, besides beyond meat, uh, tubing ones Paysafe and Bumble folic moving off earnings. I'm sorry. Another few on our chat long Paysafe PSFA um, Not going to get better, other than look safe. I fear they, they missed and then they cut their guidance and a Bumble.I didn't actually look at their report yet. Let's take a look. See real fast, uh, Bumble the EPS down year over year sales, uh, beat by barely beat their sales number. Uh, their, the estimate there, uh, they gave sales guidance for the quarter. Let's see, it looks like it was okay. Sales guidance for the year. It was okay.Um, best in breed is match, you know, so bumbles try and, but I don't know your back near the all time lowest here. I, and I always say, write this one down. If you haven't written it down over the last five years, when it stops making a new all time low, you got to go and you are very, very close to making a new all time low and Bumble.So you could bounce here. 39 is a critical level. That's the three lows back from may, June by our back in may, we went bang, bang, bang, close, huge. I tend to think it's going to take it out. I tend to think it's going to get ugly after that too, because then it's all pain. So we'll see. It might bounce here the first time takes it out.If it eventually breaches it though, I absolutely don't want to. And it's a 38 91 is the all-time low. I never want to own a stock making a new all-time low. It's usually a recipe for a disaster. Usually it is. Is there a dentist have a good rest of your day? We'll talk to you tomorrow. Uh, I hope, uh, your kids feel better.Uh, let's bring on peer talking here, lie from the trading floor in his house. AKA the Einstein of wall street, Peter. Good morning. What's up. What's up and sing a nation. How's everybody doing? We're doing, how are you? I'm okay. I'm actually not at the stock exchange. I'm in Houston visiting my family. Oh, you're not at your house or all these things in your life.From the trading floor in Houston. Excellent. The new Houston stock exchange, the near Houston stock exchange. All right, Peter. Uh, I have been very excited excitable the past couple of weeks because there's been so much going on of all the things of every day there like a dozen. Stocks up 20% that doesn't stock down 20%.Not even all of them are earnings related, which is kind of the craziest thing to me of all the things happening. What, what has your interest, what is top of mind for you, right? No. What I have to really address what you're talking about. Cause I think it's really super important. You know, when we talk about day trading, people are like hopping into stocks on hype, you know, at the highs of the day with some of these stocks making major moves.And we keep begging people to realize that it's just the FOMO is a dangerous, dangerous, uh, prescription for trading because you know, I, I get it. People don't want to miss out on these things, but every day there's another one every day, there are four or five of them we're seeing moves, whether it's earnings related, whether it's fed related, whether it's the hype and the stocks are getting MIMA fight, you know, those moves, those volumes of volatility is wild.So I beg everybody to be patient and really use technical analysis when it comes to these names because. You know, when you have a stock going up as we, you know, I think you and I mentioned it, um, uh, last week was with car, you know, when you see a stock go from, I think, I think it had traded wildly before we spoke last week.When you see a stock go from 1 59 to 5 47, and then back to two 60, you know, when you see a majority of the volume above the four or $500 range, you know that a lot of people are getting hurt in the stock and not making money. And you know, and then we come back to it and then you see the moves on earnings.You see the PayPal, then you saw, uh, Peloton, right? You're seeing Peloton get cut in half. You saw Myrna selling off $60, two days in a row. And so some of these names, you know, I don't look, we always talk about us, you know, especially with David Green too. We've seen this movie before. Well, I don't really think it's clear.I've ever seen a movie before where you're seeing the valuations get cut so badly. You know, stocks go up and down look, good news market goes up bad news market. And no news market goes up, you know, and then you're seeing earnings come out that are positive stocks, go down earnings, come out, that they missed and they go up.So it's kind of confusing, right? Is it a matter of the expectations are, are, are, uh, sort of ill, ill, ill described three, you know, you know, with, with earnings or whether the trade is too crowded or you've got just, I mean, have you ever seen that, you know, w w watch what happened in Peloton? Right? Look Peloton was the golden child during COVID and I get it.People are starting to go back to the gym and all that, but is it worth the evaluation cut in half? You know, is it a short supply chain story? You know, the, the exaggeration and moves on the way up and the way down are, are incredibly. Um, earlier on the show today, uh, we were talking about Elan mosque selling his shares, and the question came up, uh, I think in the chat or, uh, maybe just a question we've had, but when someone like Elon Musk is selling, you know, millions of shares across a couple of day span, how is he or his broker?How are they doing that? Because you're, you're used to being on the floor and you've seen big orders and big institutions working work out. How is he working out at that position? Is he just going off the V. You know, it's a really good question. You know, we've often described when you and me, when we started talking about a little historic, um, uh, historically how the market used to work.We talked one day, you and I talked about block trades, right? The way, the way when market makers used to make S make deals, we'd come in, we have a hundred thousand seller, a million to sell a bid was made. We would hit it, and then we would proceed to work out of a large position on whether we're getting into a stock or out of a stock in today's world with algorithms and whatnot.I know on the. That my handheld can really give me an option of 30 different algorithms. I can be aggressive. I can be passive. I can be a walk. I can be a view op you know, I can be 5%. I can be 10%. So, and those, obviously those are algorithms that every broker upstairs has access to. There are other platforms that people are able to trade through.Um, you know, is he giving it to a broker on the floor? You know, I mean, it is an Aztec stock, so we don't trade Tesla. So it's not happening through the NYC. Right. But clearly a broker is doing it. He's handling it quite well. Look, we did see a Tesla down a hundred, uh, you know, we saw it down $110, 163 at one point.But that was actually the day before. Uh, Tesla, uh, before he had agreed he was going to sell the stock, I think, you know, so I'm not really clear, you know, it gives it to a broker. He may spread the order around. Um, and I guess like people, maybe not Yvonne, but like people like Elon, right? When, when you see a C CEO of a company, you know, has got a 10 beats, uh, a pre-planned pre-planned sale, for example, he's got to work out of this position.I guess there's more, there's multiple ways to do it. It's like a, you know what, to, to be honest, uh, Spencer, I would willing to bet if he was selling five minutes was at 5 million. A billion dollars now it's worth it was, it was, you know what? I'm willing to bet that whoever represents him, made some phone calls, got three or four people involved in the print traded off floor.I guarantee you that's the way that was done. You know, you know how the way the stock acts, you know, the enthusiasm in the sector, you know, that reveal and went public yesterday. Everybody's taught on electric cars. I would imagine three or four phone calls and they were able to place the $5 billion worth of.In a minute. I was, I was wondering if you were going to say that I I'm willing to bet you a million dollars. That's what exactly what happened? It was a, it was a couple of phone calls. People said, we're looking to sell a block of $5 billion worth of stock and we get some bids. And I would imagine it was oversubscribed.I promised it was probably down a hundred dollars, which is nothing to the stock. They surely did not want to bring $5 billion worth of stock into the marketplace because it would have spooked the whole thing. Right. Yeah. Um, and that's great insight there, Peter. Uh, and then I guess, uh, is there anything else on your radar right now?Uh, did, did you have a reaction to the CPI number? Do you not care about the CPI number? W what, what else is on your radar here as you know, what I'm sort of looking at, whether there's going to be any follow through on the south side? I think what is the market up three handles this morning? We're on three.Yeah. Okay. So we're bouncing back from yesterday, sell off, right. And, you know, it's so funny how with the more market where it is. You've got one or two days where the market feels a little weak, whether it's just a pullback, a consolidation, we're responding to supply chain, inflation numbers and whatnot.Um, and suddenly it's the end of the world and it's doomsday. And this is the end of the bull market. We've seen it, you know, for the last three months, every time we had a small sell off. And then again, we come into the market this morning and there's, there's a bidding, right? You and I have spoken about it a lot that any, any slight discount, normally in the old days, you'd see a market sort of at this point, trading at record highs, let the market come in two, three, 5% on some bad news, uh, before it would bounce back.Now we see barely a 1% move in the market and there's a bit that's pretty strong. So, um, I'm, I feel confident. I'm not sure what will dislocate this rally, but it surely feels like the market's telling us it's nothing nothing's going to happen too soon. I feel like, uh, if you have to say to yourself, this is the time.That means it's not the top. Right? Is that how it works? Right. Look at, look at what happened in Caribbean yesterday. Look at what happens. Look at crypto, right? There's there, there are probably people still sitting on the sidelines who missed the boat on, on the market, on some of these IPO's on crypto and they're just jumping in.Now, there are people with, you know, they're, they're the meme guys who are out there buying stock with abandon, just because, just because, you know, there are a lot of new millionaires out there trading the market these days. And so, you know, it seems, as I said, good news market goes up, bad news market goes up.It just feels like there people are just dying to get involved in something to make an investment in their future and the stock. Market's the name of the game. All right. Peter Tuckman is, uh, also known as the Einstein of wall street. He's also runs wall street, global trading academy. The link to which is anal.The description of this video on your word, says his name and his Twitter handle. Peter joins us every Thursday. We appreciate it, Peter. Thanks for coming on. Technical analysis rules guys. Check it out. Technical analysis rules. Uh, okay. It is nine 12 wive trading with Benzinga. We'll be starting at nine 15 today.So like two minutes from now, basically. So I'm going to wrap up the show here right now. Thanks to Peter. Thanks to mark shaking. Thanks to all of you in the chat. I know we did not cover everything. We, we, we never can. Unfortunately, there's so many questions from the chat we didn't get to, uh, the, the Ilan must have something.We can talk about that for like an hour. I feel like, uh, so many tickers we didn't got to, we didn't even get to the fact that it. I should probably text Dennis and Joel about that. Well, John knows, I don't know if Dennis knows it singles day. Right. Uh, and so national shopping holiday in China. So Alibaba in focus there, we didn't even mention that this morning or yesterday for that matter.So, uh, watching that, um, watching all the earnings movers, right. Recovered like a half dozen of them, but there's like a hundred more. Um, so yes, stay tuned to wive trading with Benzinga. We will cover as much of the stuff as we can. We'll take more questions from our chat and you can just watch do Nate and Ryan and Mitch, uh, make some yellow trades, uh, risk, risk controlled Yolo traits, uh, stocks and options.And, uh, just hang out with us through the open. And that being said, please remember all the information from our show has meant to be used as informational purposes and not for investing or trading advice. If you can, before you go do me a second. And just like, see that thumbs up on the screen. It looks, it looks just like that.Right. You can just hit that little thumbs up button and then that'll be like, and that will make me feel better about myself, uh, in my life. So please do that. I'd appreciate that read 365 right now. Um, and I don't know, to get to 500 today. Uh, thanks. Uh, to, uh, for the super chat comments. I believe Matt Miller, uh, left a couple of Madam, I'm sorry.I saw your super chest. And, uh, we did not have time to address them today, but, but I, I wrote them down. So, uh, we'll cover them for, uh, on live trading here. Cause I wrote down your, your chats as you gave them. Um, so thank you for that. And, uh, That's it guys live training with ending is starting right now in like 30 seconds.And we're just hanging out with you with the open. Everyone. See you there.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Rivian IPOEarnings from Coinbase, DoorDash, Upstart and more; COIN, DASH, UPST2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Joel Kulina, Head of Technology/Media Trading, Wedbush Securities 37:00Meet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://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.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Morning, everybody happy Wednesday. We got a lot going on. Today's so many movers, so many movers. It seems like every day stocks up 20% stocks down. It's a hundred percent and not just random stocks, like big stocks to stocks that we've all heard of. And talk about. We talk about that. We got inflation, don't forget.At eight 30 CPI, we have the long awaited, an IPO, probably the most hyped IPO in quite some time. So we got a lot to get through today. Let's get to the show and hopefully cover all of this, uh, or as much.Coming to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn. And this is a vowel tile puppy here. Isn't it. And Dennis Dick I've been in the penny. I will buy the stock for a pet with everything that you need to start your trading day.Mr Joelle Connie. Good morning. How was your day going so far? So far? So good. Good morning. Good morning to everybody. Uh, starting the day, a little bit in the red, uh, found some resistance just above the clothes were down nine and three quarters handles at 46, 68 50. Of course, that all could change it.Eight 30 when we get some more inflation data, our crude in the red by 49 cents at 83 66 has a high at 84 97. So buck, buck 40 off the high. Golden the red by $2 and 50 cents at 18 28 30 silver going the same way. That's down about 4 cents to 24, 28 Bitcoin peeling back a little bit down $1,070 and 66, 5 55.And a theory is going the same way. That's down $73 and 75 cents at 47, 28 and a quarter let's bring in a triple D triple D needs a vacation season, triple D just stepped away. And other areas here. I was here the whole time. Oh, your camera was off. So I didn't know. I forgot it off. All right. I do need a vacation.This has been just, you know, the markets get me. The kids are getting me too. I mean, I've got sick kids here for, I feel like a month anyways. I just finally got both kids back to school and then just middle of the night, 10 o'clock I just an unbelievable the four year old. I, I, I hear and she's in the bathroom throwing up.She got woke herself up from a deep sleep. A four year old, got to the toilet, did not even spill a drop and got all the puke into the toilet. So hero in that way, but no idea why she was throwing up. She threw up multiple times. She wakes up this morning and she's perfectly fine. So I have no idea what's going on.I get to keep her home from school because obviously she's throwing up last night. So we got the kids here, but, and then the boys throwing a fit because he doesn't have the pants he wants to wear. So well, welcome to a TA like a young kid problems. I don't know, actually, I, I was trading, so I don't even know what they have.So I don't know. Actually it appeared to be some type of noodle though. I will tell, I will say that that's crazy though, that a four year old woke herself out of a deep sleep, got to the toilet and threw it all up and didn't even spill a drop. I mean, I can't believe that. So anyways, this is a, this is a tangent of all tangents, maybe.So we should bring, I mean, I was waiting for a vacation. I was like, I need a vacation when the markets that is killed on something every day, I don't mean to rub it in, but I'm 99% sure you wore that shirt yesterday. No, I know who changes their shirt during earning season. You've got kids puking. We got earnings nonstop.All I do is trade. I mean, I'm trading nonstop, so that's all I do is trade. I got to dig myself out of these epic holes I have every morning. So. Today's whole, I don't actually, I maybe not in a big hole here this morning. I don't know, but I'm not in great stocks either. So this has been one of those, I'd say a month where it has been a rollercoaster ride of a P and L usually my P and L is fairly stable overall, obviously individual stocks, but with the moves that we're having, and we've been talking about this, it seems like there's a stock up 20% or down 20% every day.Doesn't it like it like multiple stocks today moving 20 plus percent. So, I mean, the moves are so extreme, extreme moves. I don't even know frankly where to begin. I mean, do you want to start with like yesterday, like Tesla or you want to go straight to the earnings here? Cause we can, maybe we should start with Tesla because it loses 170 points because mosque tweets out.I might sell some stuff. I mean, this is the volatile market on individual and overall the spine is not Volta, which is funny. Joel, you know, the overall market is really not that volatile, but there is individual stock volatility, something years. So yeah, Tesla loses a hundred foot from the high, when he tweeted on the weekend, it closed at 1222 Teslas and allies 200 points in two days because of an Elon Musk tweet that, uh, should I sell some of my Tesla stock?And obviously we think he's going to sell. So I guess that's why everybody is selling the stock to get ahead of his sale. But you know, is it good? Is it over, down at this point in time? I don't know. It's over, down to the buy side. It's over to them. The downside. That's what Tesla specializes in the stock is being over.So who knows what this stock, it is wild. I would use yesterday's low 10, 11 as a first bounce point. Takes that out then, you know, you probably think 50 bucks lower cause that's what Tesla does. So my bogey would be yesterday's low 10, 11. Can it hold? He had a Michael Berry tweet yesterday, too. I think that a Tesla, but he's been tweeting about that for a long time.And then you also, now it's so, you know, it's a big part of the S and P 500, getting bit was getting bigger every day. So, you know, you have it knocked the entire S and P down yesterday. Joel, like, if you want to know why you saw the market week yesterday, it was Tesla. I had a reporter calling me and they were trying to talk about PPI and all the other I'm like it's Tesla.The whole market is down because of Tesla. There was absolutely no doubt why the market is down. Tesla, Tesla, Tesla, Tesla, Tesla. It loses 170 points. It's a big part of the essence. It's going to bring down a lot of other stocks too. We'll look at that and run. I mean, you know, it had a run from nine feet. I mean, 900, that gap would go on earnings.So it was 900 to 1250 with the, you know, Marriott down day. And, uh, then you got to, you know, the quiet days up to the top and then you get the Musk tweet. It just took a data to resonate with investors. Pre-market low. Nice round number comes in at a thousand a we'll see what happens with, uh, you know, test of the close.At least it's just kind of been leaking since that, uh, that 4:00 AM open, but keep an eye on the clothes, really hard to find resistance. Now, if this starts to rip, uh, maybe if you do have a long, you're trying to scale out, you know, maybe, you know, throw something out there at 10 30, 10, 40, 10, 50, you know, and scale up the size.We talked about that yesterday in AMD. I know bill big D was looking at it like. You can't sell your stock if you don't have offers out there. Right? So let the market what you could sell it on the way down, but you can't have a feel for the market. If you can't, I'm going to teach you the exact opposite.Joel, though, when I'm going to, I'm going to take the opposite end of that spectrum with the way every market maker leans on your orders here. Now I actually, if you're, if you're trading an earning stock, I would say, yeah, if you're trading stock, I hate having my orders out there. I hate showing my hand because 100 shares on a mid cap stock affects the market.I'm not joking. You can have a market's 27 wide and you go and you throw out your order to sell it. A hundred shares, just 5 cents down from where the best offer is. And all of a sudden they hit the bid and it's offered there. And you're like, what happened? They got a real seller. Oh my gosh, it was a hundred Sarah's sale.It was a hundred share order selling in this. There's so much envelope, liquidity, high-frequency liquidity. It's 95% just fluff, basically that when they have a real order sitting out there, it moves the price as a hundred shares, move a stock of bank America. Absolutely not. But if you're trading something that trades under a million shares and you're showing your hand actively, you can chase the price away from you.So I don't like showing my hand whatsoever. I use a lot of discretionary orders. We're going to talk about this and R and R, but I think when you, if you're just sitting your orders out there, I, what we teach our traders now is sitting limits makes you a sitting duck because one they'll lean on your orders for protection.The off exchange market makers will lean on your orders for protection. And they'll pick you off when you're on the wrong side. So, you know, it sits there as a P is not moving. You got your bid out there, they're hitting, but you're not getting filled. You're not getting filled. All of a sudden the SPS are all over and you're filled and it's here.So I hate sitting my orders out there. I take liquidity and believe me, this occurs a hundred shares, like are traders orders. And I'll tell you, the majority of our traders is what's called taking liquidity where we're not sitting orders out there anymore because the market makers, the opportunities, market makers, even the on exchange market makers will use them to lean on them as insurance.So they'll sit on yours because there's so damn fast to sit on your order. They'll buy ahead of you, the buy ahead of you because they're leaning on you and all of a sudden looks bad. Oh, you got it. Now it's here sitting your orders out there makes you a sitting duck. We're going to go into all this in depth in December when we have our next educational event, how we get around this problem, December 11.Um, I think the Saturday. Yep. We're going to get that up on the site, uh, this week, but, uh, trash talking about Palentier here. We should find it. We can start there. There's so many earnings. I mean, this was two days ago, so, correct. Uh you're right. Actually it was yesterday. It was yesterday. I don't think we talked about, yeah, the EPS was fine.The sales was good. They actually guide above estimates and, uh, yeah, it was fine. Beats me. No, no, it doesn't though. It was, it was in line. So it wasn't great. And yes, they did guide slightly higher, but it's really slight. So when it grows, stocks don't have super growth. They usually do hit them. They want to see a big guy.They don't want to see, oh yeah. 152 billion versus we're going to guide 152 or 1.5, 2 billion versus 1.5, 1 billion. That's basically in line. You're not showing me that. Oh yeah, we're going to kill these estimates. It's like, oh yeah, we're kind of comfortable with the estimates. So it wasn't a great report.And they hit the stocks. And in this, in this earning season, they are slamming higher growth names. They were slamming stocks in, this is not a low piece, not a value stock because 117 they're hitting those kinds of stocks. And if they're, if they're not blowing the numbers away, if they blow the numbers away, then they're buying them.But if they're not, then they're hitting them. So they hit it. And what you're also seeing in this earning season is wicked following. Where, you know, we say, okay, well buy the dips on stocks that are an uptrend that's tends to work. Still. Palentier is definitely not in an overall uptrend. It's a no trend.So the stocks that are in up trends, stocks are in downtrend. Stocks are in no trend. 2021 started Palentier around $24. It's $24 here today. So you can clearly say there's no trend here. So we don't talk about that a lot. Are they buying stocks with no trend? I think they're still buying stocks on dips, only an uptrend.So, I mean, you look here Palentier, this wicked follow-through, they're moving on to something else. You have this moment. Capital that just as it's a lot of retail capital that just keeps flying into what's sexy, what's moving. That's what I'm buying. That's what I'm buying. And that's why there's so much wicked follow through here.And retail is driving the bus to a certain extent. If you go back 10, 15 years ago, retail was 12% of our overall market volume. It's approaching 30. I believe so. You're talking, the retail has taken over a lot of names and that's why you see these wicked moves. It's retail. Retail is actually driving the bus and a lot of different names.And this is a retail driven name. Certain stocks are not retail driven. Some stocks are a Palentier is a stock that I have. Somebody tweeted me every single day. What do you think about. This is a stock that's widely followed in the retail community. And you're getting a little shake out here. I don't know where the stock is going long-term but it's clearly not in an uptrend.It's in more, no trend it's um, you know, obviously not a cheap stock it's uh, it's, uh, it's a growth stock and a growth stock that isn't growing up big numbers. I'm not interested at this point in time. Uh, there's a little bit of buying interest at 2350. Uh, as we speak, that's been holding up since 7:00 AM.That's some shorter term support. Before you found buyers and earn late September, early October, closer to 23. So we'll see if you're looking. If you're looking for it to get a little bit cheaper, but 23, I'd see 1, 2, 3 lows, right? Between 23 and 23 and a quarter on the upside. A lot of people would probably like to see that mark, right.We're trading down to 54 cents. So, uh, you know, resistance at that closing price. Uh, we usually, when you see a big red bar on something like that, it usually gives you another red bar. So see if we get a date 23 today, resistance at the close at 24 and a quarter, the ones that are reversing and the ones that are in clear options, like a unity software, maybe we can take it to the earnings from last night.We'll bring it to unity first. Um, obviously, um, the stock is trading down this morning. Here was trained down more or last night though. I mean, I did you. Yeah. Yeah, I was on my list. Yeah, it was a good report. So give it, give us the numbers and, and for all you, uh, one of the rings fans, you may be interested in this one cause you don't use a quartering wetter.If you're a Lord of the rings fan, you know what it is, whether it, the company that Peter Jackson, uh, created to help make the visual effects for the movies. Anyway, you need these EPS beat by a penny, their sales beat 2 86 for two $64 million. That guy revenue, um, in a line for the quarter and, uh, uh, higher than estimates by a little bit for the fiscal year.Um, and yeah, I mentioned the word acquisition. The numbers were fine, and I remember fine. There are similar numbers to Palentier. If you're just looking apples to apples, obviously to completely different companies where they kind of beat the kind of guy at higher, the big difference between unity software and Palentier is unity.Software is a stock that is loved it right now. And in a clear up. So they will be more prone to buy unity you on a dip, then they will Palentier on a dip. So you get this and you think, oh, it's going to have follow through this stocks in a clear uptrend. You can see the clear option. Then they've already started buying the dip.Please show the charts from last night there, Joel, but they've already started buying the dip. Oh yeah, you have to have it. So you know what? I'm inclined to buy this dip on you as well. There are certain stocks that, you know, if they're in clear up trends and they're loved and they're strong, and this is a metaverse play, this is the thing behind the thing.I mean, this is the thing behind roadblocks that got a big pop-up that yesterday I tend to think this is one that they will buy back. So if I was looking at buying dips today and I don't, I don't have a position in this yet, but if I was thinking about it and I am thinking about it, this is the kind of stock that I actually would buy.1 51 80 is where they took it too off the number. Now you gotta bounce a nice eight buck, bounce, nine buck, bounce off that level. So it's going to get, I think it's going to get a little bit thicker. If you start to go down again, you can tell it's already thickened up, traded up to 1 65. Now just finding a home at one 60, I would, if we do go into reverse and you don't think it's going to the pre-market low, your two day low it's 1 54 17.So, uh, that's still six bucks away. Um, on the upside, you had your old time closing high yesterday. So that's your, your next resistance point? That's when it starts to go to rally mode for it gets near 71, 71 63. Was that close from yesterday? Uh, you might see some offers at that area between 60 and 60 right here in 1 70, 1 63.The, I don't know, I think you'd have to make up a number to have, and then it could go to the big loser of the day and that is upstart. And the reason I would not buy the depth, give us the numbers first, give us numbers on it again. The same story, right then, because the numbers, if you look at them in the vacuum, they really weren't that bad, at least on the headline numbers, right?Yeah. EPS beat 60 cents for 35 cents sales speed, 2 28, verse two $14 million guidance, uh, revenue guidance for the current quarter, uh, above estimates. Um, but all of those numbers, all those like that growth while above estimates was all down. You, you, and you had to know this. They had to look back was all down year over year.Uh, they're loners. They really had a big year last year, loan origination. And again, this is a FinTech play loan origination down year over year, the, the, the growth rate, this is a tough one. You've got an ugly, you know, and we say technical analysis doesn't matter as much when companies report, but now it is after the report.So we can analyze the technicals. Now I have an ugly head and shoulders where he really took out the neck line around 300 bucks near two 40. You broke trend the stocks now, and, you know, clearly broken the uptrend. So does it bounce right back? Like to 300? I don't think so. I think it went down two Hertz, so it's like a fine line.It's like, you can go down a little bit and buy the dip when he fought like 30% then. Oh yeah. You can rally to 23, which is doing right now, but are you rallying all the way back? I don't think. So I think, yeah, I think I would be more inclined to buy the UDaB then I went to the, wait, wait, can I, can I, one thing, and actually, Joel Kaleena pointed this out.He'll be on in a few minutes here, but this is actually from the, from the release last night. Uh, it's actually pretty high up in the release and I'm, I'm reading it directly from there now. Um, does, uh, beginning in the third quarter of 2021, in order to better reflect actual conversation or conversions, we removed rate inquiries identified by our platform as likely fraudulent from our conversion rate calculation.So maybe the, they weren't there, there weren't actually as many leads as, as we thought they were, they weren't actually having as many conversations as they thought they were genuinely. So, I don't know anything about that. I can just tell you looking at this too. It's not getting out away from it really now at this point in time.And this was the after hours, 2 30, 3 11, excuse me. 2 33 11. Was your after hours low? I did some retracement that comes in at like the 2, 10, 2 11 area. But man, you, I don't know, 200. Is that out of the question today? I do see. Okay. 2 33 is a big number for now. Okay. Um, after that, your next daily low is 2 27 52.If you're looking for an undercut rally in it, we started pre-market prep. The whole reason Joel and I started it seven years ago. Why. Um, obviously we teamed up with Benzinga, um, was because we thought people weren't using the pre-market levels enough and they're trading and, you know, that's what we, our edge, you know, is to a certain extent, as we were looking at numbers that other people aren't looking at, because at 2 33, if it never touches, it was never going to hit on an intraday basis, but it was trading there and it was trading with some volumes.So that's why the pre-market, you know, charts can matter to a certain extent. So now we have a clear level defined a 2 33. I mean, if you're just looking at intraday charts, you're like, well, I don't have any level. Well, no, we have levels. We have the pre-market chart. So using the framework as charts help to give us a little bit of a.That's it. And it's, it's very tricky. 200 to try and understand which way things are going to go here, because just the size of these moves. Like you want to look like you, weren't looking at corn base right now. And this coordinates one actually shouldn't have been a surprise if you, if you remember what Robin hood said, right?Massive, massive deceleration in, in retail activity, on their platform. That's Coinbase numbers in a vacuum were okay. Their EPS beat the estimates, their sales, I guess, you know, their sales was light and that, and that was the problem. And they said that retail trading volume, uh, quarter over quarter was down 36%.Wow. So that, that right there was the problem. It's it's tough numbers. The one thing Coinbase has going forward is obviously it's a Bitcoin play. And if crypto and Bitcoin continue to rally, they'll buy this dip on Coinbase. So this is basically a derivative play. I mean, we can look and say, oh yeah, it's all about their numbers and all about.And it is to a certain extent on their business model, but people are just coupling in and they're pairing up. Every Bitcoin stock is like a dozen of them. I do it too. As an Arab trader. I, you know, Bitcoin starts ripping like by Coinbase, you know, you buy all the other ones like Mara and riot and BTB T as we want to go, the smaller ones are hive.And, you know, yes, there's, you know, different, you know, fluctuations in price, but you know, three days from now, what will move the price of Coinbase is going to be the price of. So, and I know you can say, oh, Solera and they got all the other ones there too, but it's Bitcoin still the driver here, Bitcoin Ethereum, to a certain extent as well.So I think if Bitcoin holds up, I think they do buy this stuff. But if Bitcoin, all of a sudden starts to roll over, maybe we should look at the Bitcoin chart because that's going to matter to Coinbase at this point in time, more than Coinbase. So now that we're past the earnings report, so Bitcoin is sitting here it's right near the highs.I don't know. I, it, it, it doesn't look that bad to me. So I think as long as Bitcoin holds up, I think the Coinbase dip gets bought. If Bitcoin starts to roll over, then obviously all bets are off, but I'd be somewhat inclined. I don't like the coin dip as much as. But I'm, I'm somewhat more inclined to buy the step on pointless.I got matching those on the futures and the Bitcoin right now yesterday's low six 66,004 80 today's lays today's low 66, 3 85. You're a couple of hundred bucks above that. So that's what you're looking at Bitcoin for the coin. It looks like they've already bought the dip. You got down close to 300 and now it's bounced 20 bucks off that.So this one, when you're looking at it, they, they, you talked about buying the dip and now, now it looks like you're going to have to get some orders out there ahead of that. Pre-market low in order to get filled just the way the buyers have just stepped up since then. Um, on the dailies, I like to try to at least find a couple lows in the same area.And the first thing I can really come up with is I'm going to say three times. Because that spots, uh, there's like four lows between 3 0 5 and three 15. So I've called three 10. If you trying to, you know, put, get in ahead of the pre-market law, but it looks like it's bid now a little bit, the bottom of yesterday's range.That will be your resistance at 3 45 0 6. You actually had two daily lows there on a Monday and Tuesday, right there at 3 45, uh, 8 25. We have five minutes tale CPI. Oh, that's right. That's right. I'm going to leave here in a minute. So give me one more stock when you're ready. Okay. One more stock. Let's do door dash here.This is one of your big gainers in the morning. I think it was 16%. If not more. Um, they're also doing an acquisition. They're buying, uh, some Finnish competitor, a waltz, I guess if I'm saying that right. I don't know. Um, sales came in above estimates. Uh, adjusted EBITDA was, uh, better than estimates as well.And so. I was nervous about this one going into the report. Apparently I was wrong because they just decided to not Peloton this thing. They bind the hell out of it. So a lot of people may be leaning too much bearish in it. It was down because of Peloton. That's why it was weakened to the report. So maybe it said Peloton set the bar so low for it, that it was easily able to get over that bar.Um, Obviously big pop here that we know they like, if they sound stocks, certain stocks down 15, 20%, they like to buy other stocks up 15, 20%. So throw this into the RingCentral door dash. These are the ones that are buying here today, but, uh, I was wrong on this one. Um, at least from my opinion basis yesterday.Ooh, you got to 2 41. Believe it or not. So that's 17 bucks off the pre-market high, but holding two 20 as we speak, man, I just, I'm looking at this two 20 to 2 25 area, a couple tops here at two 20 before you fell off a cliff, another top at 2 25. So I mean, that's the range. If it holds that area, I know it's kind of big, but it's also, you know, a $200 stocker holds two 20, you know, maybe you get up there and test the pre-market high, but a lot of people stuck on this too, Dennis from October and early December.So I'm going to throw out. Okay. You know what though? I have a theory, this theory, I think that this will be back maybe almost instantly because this CPI number, we only care about CPI within the context of how it changes things at the federal reserve and how it could change monetary policy. Obviously it's interesting, right?We're interested in, in what the government says inflation is, but the market only cares about it within the context of the fed and the fed already came out and said, yeah, we're, we're, we're, we're starting to unwind to, to, to shrink our balance sheet a little bit. We're gonna, you know, uh, taper to some extent starting now, they already said that.So do we think the market will react at all to the CPI number aside from like the general interest in this is what the government says inflation is, and we all know it's, we're all feeling it more than. Um, but I, I don't actually know if we'll see a big reaction here. That's my hot take. That's a Spencer take.Well, you know what we, uh, today's is the CPI, right? And yesterday was a, we basically slept through the CPI yesterday. PPI. Yeah, the PPI. Yeah, you're right. We didn't even notice. And actually there, there was a bid to the market going into the open yesterday and just didn't look strong. The market looked very strong and then that number came out.And then I remember looking and seeing a non TV. It wasn't much of a, a reaction a bowl. We'll see what we get today here. Uh, did you give, did you give the previews yet? Spencer? I think that the consensus estimate is somewhere around in the high 5% range for our year over year 5.8, 5.9, 6% somewhere. It's somewhere in that.Um, Maybe that's on an annualized basis. Of course, we're looking at point like the, the actual, um, uh, sequential number would be 0.6%. And for the core would be 0.4% of the book I'm looking for. But, um, yeah, I, I was just thinking about this and I kind of realized that we only really care about these numbers within the context of how they change things at the fed, with the fed already, or you play with their hand.So. I'm not sure if we really, if the marketing will really care too much. Well, you know, we'll find out in 40, 40 seconds. Ah, well, let's see. Do we got on the, uh, any, anybody jumping the gun here? Uh, we're on the one minute chart, you know, I don't go to the one minute chart unless we have numbers like this.So we got the one minute chart up there, uh, mid range on the session, uh, that comes in right here, right where we're at at 69 and a quarter. Now, if you get a nice pop, uh, let's be keeping an eye on that close from yesterday. You close from yesterday 78 and a quarter. And the, the pre-market highs right there, right at 80 in the quarters.So that's what I'm looking at on the upside. If they do like the number on the downside, this pre-market low 58 and a quarter, uh, nothing there for you. More relevant number, even though we traded two it overnight at 63 and a quarter. And, uh, the first reaction is down a spike down to 63. And, uh, trying to rebound, uh, 63 and a quarter was yesterday's low it's teetering.The buyers are trying to defend that. They do. We go to, what did we go to there? Come on, stop. Oh, I got to look on that.Maybe it's a smidgen on the hot side, right? Cause on the hot side. Yeah. I said, I said a 0.6% was the estimate sequentially. We actually came in a 0.9% and then the core number, the core number was 0.6, which was a bit higher than the 0.4% estimate. So somebody shot while we're at it. We also got God jobless claims.Um, although I didn't, uh, I didn't look too closely at those estimates there. Um, so, you know, I mean a little bit higher than we thought, but we can't have it both ways. You can't complain that the. Uh, doesn't account for true inflation and then complain when the numbers come in higher than get Spencer, they don't like it does.Dennis is not going to be back. As soon as we thought we'll probably get Joel Coleen on. Uh, but that didn't really blink much at the loan from yesterday. It's still a relevant number, 63 and a quarter. Uh, we're bearing down on the pre-market low pre-market load comes in at 58 and a quarter. Uh, if you're basing, uh, your training on your daily levels, your daily highs and lows, a four day low 50 75, but a little battle going on here in 46 60.So overall street kinda lean on the right way, at least on the SRPs, selling it over night. Give me grief for saying it was a smidge higher, fine. You're right. It was 50% higher. Yes. You, you, you, you, math is hard. Uh, uh, CPI just to put it to bed year over year, uh, increased, uh, 500. I'm sorry. 6.2%. Um, versus like I said, they asked it, it was in the high 5% range, um, chorus UPI 4.6% year over year versus a 4.3% estimate.Uh, so yes. Uh, hi. Hi. But, but, but again, I repeat my point. People always criticize this number for, oh, it's not, it doesn't really reflect my reality. Well, here it is coming in higher than we than the estimate. And I don't know, I guess you can't complain when it's lower and complaint when it's higher as well, but, um, market, I guess, I guess surprise, you can see by the reaction.So I stand corrected on my hot take from a minute ago. Yep. It's a big number would do that. Okay. All right. Uh, try not to buy the buyers are standing here near the pre-market law. They're trying to get done that pre-market low is 58 and a quarter. We just read 59 accord. It looked like those days were going on the low here.They are going to take this. Pre-market low out here, 58 and a quarter. Uh, that's it. That's the only relevant number I do. Just want to take a look at, uh, your banks. This is good news for the banks, right? The banks are rallying. Uh, let me go to, I have to go to the after hours and the pre-market chart here to accurately reflect.There's a nice move up in bank of America, higher interest rates. Good for the banking sector, JP Morgan, a little bit of a pop still up only 20 cents. The Cisco general here and see what they did with the. X L AF uh, not a lot of trading here in the pre-market and the XL laugh, I guess, bake America's your most liquid wine.And, uh, you did get a, a pretty good move on a percentage basis. Pretty liquid. Yeah. Uh, it's $168 stock. I mean, it's only actually the volume is really lightened that this morning in JP Morgan, uh, Oh, I was looking at the wrong stock. 9,300 in JP Morgan is traded as opposed to over 103,000 in the bank of America.But look like the bowls here. Doubles. I have defended the pre-market low of 58 and a quarter. Uh, where were we at when this whole thing started? It's another, uh, relevant level. If they're going to shake this number off today, uh, going into one minute, right where we were taking, we were at 68 50 and you got kinda light volume on that minute bracket.So there's a year resistance up there. 68 50 looks like a battle between 58 and 68 had an end to the open. Uh, what else do we want to look at? As far as I just want to reiterate. You know, the, the, the transitory inflation has so far failed to be transitory, which of course we all know this, but every time we get another data point every month, it's just another nail in the transitory coffin.Uh, cause not only is it staying elevated, but it's actually going up. Right. So I don't know. I don't know. Yeah. It's, it's tough. I mean, also, I mean, the reaction here in the market, I mean, you're looking at this and wow. Two down days in a row, but look what, you know, just look at where we're at in, uh, you know, at the end of September and early October, I mean, just, you know, under, remember all that choppiness, all that crazy action that we had here between like 40 to 50 and like 43 20.And you finally had a breakout. So you had a 300 point rally here, folks. I mean, this is, you know, if you look in by the depth, this is not much of a dip yet, but you know, we're waiting on all these other days. And I, I can't tell if you're, oh, he says thumbs up. All right, Dennis is back. And then how was that?Uh, trying to buy the banks off it? That was my initial instincts was years. I mean, you think like. But we're chopping around a lot too. So I'm still in a couple of trades here, just trying to figure out whether we're going up or down. Right. I don't know. Um, th the number is hot. I mean, this is exactly what we've been talking about here.It's the BS, the fed keeps feeding us, you know, we're running 2%, uh, you know, running 6.2%, you know, that's definitely not 2%. And then you can start looking at everything that isn't inflation and everything you don't track, you know, even like product sizing, which we talk about, cause everything gets smaller.So, you know, the hidden inflation is just everywhere. So I don't know, this is the major problem with the markets right now. It's a major issue. I don't know how they solve it because the way to solve, you know, when you start getting caught, you know, in CPI numbers and when do you start getting inflation?That's definitely ticking up is to raise rates. But they can't raise rates because everybody's built on debt and they don't want people losing their homes. So they're stuck in a really hard place right now. And it's going to be a tough one for them to figure out, you know, where, um, how, how to manage this.Like what, what's the solution? Really? So let's say hypothetically, okay, well, let's start raising rates. Interest rates are, or CPI is too hot. We've got to cool it off. Somehow we start raising rates. You'll raise a little bit of price. It doesn't do anything. You raise a lot. Everybody loses their homes and we go in to a tailspin recession.So the only solution they really have is to keep lying to us and say, it's transitory it'll eventually go away. It'll eventually go away. Is it going to go. I don't know, and this is why I don't want to be in cash. So you got to keep staying, you know, in certain assets, we know I increased my bank exposure a month ago.It looks like, you know, that's and that's actually has been working because the banks have went up. Um, you know, I was selling stocks like utility stocks. I'm selling stocks, you know, that are, you know, four or 5% dividends, 18 T's. And Verizon's, uh, because I think you've got to be in stocks that are benefiting at least from a tightening bias because they can't keep ignoring this.They're going to have to stop tapering at a certain point in time. Like completely, like not just like a stop or stop printing money, they're going to have to stop the printing press at a certain point in time, because it's common, a ruse like Peter Schiff calling for this for 20 years, it took a pandemic for it to happen.But it's here, you know, don't don't you agree here, Joel, like you read that Peter Schiff book, you know, and obviously I can't remember the title of it was a crash proof is his book from years ago where he was calling for inflation to really start to ask. Well, it took a pandemic for it to happen. But Peter Schiff, you were finally right here.We are in the Peter Schiff environment here. You would think gold and silver is things to own. You know what? Golden silver is starting to look. I'll have a lot better here. Looking up this morning. GLD has a four-day run here where it's starting to look good. You're starting to see the inflation tray pop all over the place.This data today is not going to make the inflation trade go away. Inflation inflationary environment is bad for high growth tech stocks because those earnings, those future earnings are worth the last so bad for your Kathy's stocks. Good for your banks. So that's what you've gotta be thinking. Cathy getting hammered this morning, again, one 18.She was looking okay there a few days ago, she's starting to get hammered again. So I don't want to own high growth tech right now. I would rather own boring things. Commodity stocks goes up in an inflationary environment. Let's get a joke and we'll come back to the river and IPO. Uh, let's get Joel clean his thoughts on this here from Wedbush securities and get his thoughts on that number.Joel. Good morning. What, what do you make of that? No, I agree. I agree completely with what Dennis kind of, I know it was a little bit of a ramp, but I respect it. I think he, you kind of, you hit the nail on the head. I mean, I think, uh, since pal kind of tried to, uh, you know, pull a fast one on the market, you know, you know, back in December of 2018, he's stayed in line with, with kind of, you know, propping up valuations, you know, re keeping very accommodative, uh, policy in place.And, and if this feds, at least they've been consistent in one thing, and that's saying that they're gonna be very transparent and clear in their message and, and I wouldn't expect any curve balls and, and I've told Powell kind of, we, we hear a shift in his tone. Uh, you have to take him for what his is, is what would he say?And, uh, you know, I think you got to stay invested and realize that, you know, the Fed's going to continue with their ostrich, uh, policy and just keep their head in the sand. H how do they, how do they not, I mean, I don't know what the soul of what they can do. I think, I think behind closed doors, they're sitting back and having the same conversation and saying, what do we do?I mean, we w w how do we fix this problem? The whole entire world is built on debt. We've got a housing bubble that would collapse if we really start to raise rates seriously. So we're just going to tell everybody it's transitory, and eventually this is just going to go away, but I don't see it going away.No, no, no, nobody does. And I mean, obviously, uh, you know, you're seeing the price of everything is, is going up and, uh, yeah, you, you said it very well, so there's, I mean, I couldn't add anything more intelligent than how you put it. And, uh, but again, I think at least with this fed, they're going to be very, very transparent, visible.If there's going to be a major shift in policy, Uh, I just don't see them rattling the cages anytime soon. Um, which is kind of comical, but it is what it is at this point. Right. You think they'll pull, um, uh, you know, this is going back, this is dating us, but you know, sometimes they just wouldn't come out of the blue and do something, you know, like a quarter point hike or something like that, you know, maybe instead of like telegraphing it with the meetings when everyone expects it, you know, I don't know.What do you think, Joel? We haven't seen that in a long time. The friend might just slap us upside the head. I feel like we, we, we saw that a little bit in December. Uh, like again, just about three years ago and the market wasn't happy if you remember. I think the market bottomed during that pullback around December 20th, or maybe even Christmas Eve for that matter, And the market really hasn't looked back since, other than obviously a few, few major speed bumps along the way, but, um, you know, pals stuck to the script.Um, and I don't see, I I'd be shocked if he kind of went to drift and, and did his own thing. And they surprised us with any sort of proactive policy, which would make sense, um, F you know, again, another hot CPI, but it just we're were, I just don't think you can bank on that. Joel, what do you make of the earnings moves here?Cause it, it, I there's, I'm trying to find a theme and I'm struggling right. To, to, to, to identify one here. It just seems, yeah, that's, that's kind of the, that's been the problem. You're not alone. I mean, uh, it seems like almost every night we get another flurry of earnings and we're past the peak now. Guys are getting kneecapped almost at any, any point, you know, going back a few weeks when Texas instruments really had the soft, soft guide that guide, you know, everyone shorted, all the analog semiconductors and more of the hardware kind of storage names and those, those guys, those shorts have been getting carried out on a back of better reports on the back of it.Uh, roadblocks up 42% yesterday, the valuation is, is, is beyond insane. Uh, I think it's enterprise value and market caps more than Activision at this point. And, uh, and, and guys are struggling, uh, you know, Jordache, a big move to the upside guys were kind of trimming or that stock into the recent rally. Um, and then you're seeing names like unity.I think, you know, I think Joel touched on it earlier, unity down five, 6%. I believe last I checked maybe a little bit worse now. I think that is a name you want to be buying the dip. If you can stomach the valuation and kind of buy a little bit and tuck it away for few years, they are very well positioned to benefit from not just the metaverse theme, but the sh the shifts in the app.You know, ecosystem and the pay structure. Um, and so I think there's many reasons to be bullish on, on, on, uh, on unity, especially with the acquisition of Peter Jackson's, you know, WeDo studio that will help expand their Tam and also kind of just fits really nicely into the robust game engine as well. But yeah, I mean, the, as you can tell, I mean, guys are being caught offsides on a lot of these, these earnings moves and the volatility is kind of is it's been off the charts.Meanwhile, the major indices really haven't done too much, but kind of really what jumps out at me to start this month in November, the Goldman most short baskets up 11%, and that compares to the market being up around S and P being up around 2%. So that really speaks to the pain being felt out there, especially in the hedge fund.Hmm. Interesting thought. Uh, what do you say to people that are in some of these stocks that, uh, maybe have these great growth stories and are just so, so beaten down? I avoid them. I mean, I think, well, what if you're already in him is my question. Yeah. I think you, you got, you got to reevaluate your reevaluate, your investment strategy.I mean, we're seeing it with Kathy would kind of unfold in real time. We know she was, I was looking at the ARQ I own a R K w sorry to interrupt you, but Erica dot. No, it doesn't look that bad. It does it, but I mean, we all know, imagine her flagship say, you know, AR K K a matter. I mean, I get it. Tesla's the number one holding, you know, with a 10% plus waiting, we know what's going on in Tesla.Isn't normal right now. You know, we can't really explain the fundamental reason why I went gangbusters, you know, last week. And we can't explain why the stock really fell 12% yesterday. Yeah. You can point to a couple of reasons, but I think you look under the hood at what she's been averaging down, whether it's been skills, Coinbase, Robin hood, Teladoc, zoom media, these, these are companies that are struggling and they're showing signs of decelerating.So if you're in a name and the chart is broken and it's a fundamental, you know, there's a fundamental reason behind it, I'd be looking to put your money elsewhere. Um, there are, there are still great companies out there and you don't need to chase the dream with some of these more, you know, Mimi momentum type of.And great point from, uh, Chris catchy and our Chad that the, the inverse of archi ETF actually launched yesterday. If, if that's, what is that? What's the symbol on that? Sark S a R K somebody came out with birth Cassie. Yes. A lot of hate right there. Yeah. A lot of hate to come on with that product. Is it though, or is it just an opportunity know.I mean, it's worked. I mean, it's, it's been a great trade all year. I mean, like I said, if you really strip out Tesla from her performance, and then you peel under the hood of some of her other, other ETFs, she's, she's got a long list of like mid cap biotechs in her portfolio with massive holdings. She's a 10% plus holder.And I think 10, 10 to 20 biotech companies. I mean, where liquidity is terrible. If a number of these start, you know, the dominoes start falling as well. You really could see a self fulfilling prophecy of implosion, uh, w with summer her ETFs this year. I mean, it just seems like there's, there's, the risk management is not in place.And I just don't know how to keep defending stocks on the way down. That again, they had the big COVID tailwinds. Well, that, that catalyst has been removed yet. Still defending to no one.Yeah. I was going to say to a higher inflationary environment is the dead enemy for Cathy wood because she's in all these high growth tech names in those future earnings are worth a hell of a lot less than an inflationary environment. So she is almost the same as the fed in that way. She comes on TV and saying, oh, the inflation is going to go away.I'm more worried about deflation because, um, obviously if we go into an inflationary environment, she's going to get hammered on her position. So if the patient continues to escalate, if we start to see deflation, like she's predicted. Then she ends up winning maybe. So I guess, you know, it goes back to inflation versus deflation here.I just don't see a lot of deflation. Exactly, exactly. So, uh, yeah, I mean, it's been a struggle though. I mean, like I said, all these momentum type of stocks, you know, the, the, the, the, the, besides the major indices, really not doing much. I mean, some of the volatility under the hood is just been fantastic. And, uh, in, in, in, in pretty incredible in, in, you know, she obviously has a, she's involved in a lot of those names that are heading in the wrong direction.And the irony is she's been selling Tesla. That's been what she's really been kind of peeling out of the fund from the losers. Um, we skipped over reveal. And if we can go back to that for a second, Joe, I wonder if you have thoughts on that IPO, they upsized, it, uh, they, they increase the price. I thought we were past this and by this, I mean, all this Evie hype, we were in it, and then we moved on and now I guess we're back.Yeah. I can't, I can't really speak about revealing itself for other purposes, but I mean, I, I think, you know, the hype is real. I think the infrastru. Details of the infrastructure bill finally passing. And that obviously led to the charging charging names could go, you know, going through to the moon on Monday and Tuesday.Um, but yeah, it's a it's I think only thing I really can say is that the company is, has great management team and, and, and, and just from a manufacturing technology point of view, it's, it's pretty impressive. But, uh, yeah, I can't, I can't really talk too much about that though. Joel Kaleena is the head of technology and media trading at Wedbush security is the guy is like a machine.I don't know how early he gets up, but it's before me, I can tell you that you started yesterday. He starts, probably started. That's a secret. He starts the night before. I bet. That's exactly. So thank you for joining us as always Abaco one take care. And also what real, real quick, just what kind of one to keep on your radar?I know you guys are big momentum chart. Guys. Look at SailPoint, the tickers S a I L accelerating SAS revenue. Uh, FA X, uh, faster than expected, uh, transition a model transition as well, subscription model, uh, breaking out today on good volume. And this is a stock. I think you want to be buying it into the strengths.So I've got a little garpy element to it as well, even though you're seeing, obviously it's being regrading a little bit higher today, but I think for any of your momentum investors out there, we know cloud security. Thing's not going away anytime soon. Um, keep this one on your radar. I like it going to set $70.Then nanny earnings last night that appeared to have been better than better than estimates. So good call. We were not going to mention that, so we wouldn't have known otherwise. Thanks a lot. Joel guys, take care. All right. Um, do you do either of you, do you guys have thoughts on the river and IPO is I'll give you the numbers right now?Cause like I said, they up-sized it, the original pricing that will, the guesstimate for the pricing was a range of 57 to 62. They priced it last night, uh, at $78 per share. Um, this is probably the most hyped IPO of the year, at least that I can think of. They didn't do this last week. This is going to be the worst possible day for them to do this one because high growth is coming up.To Tesla. Musk is going to be a major impact here on this, because Tesla is just falling 200 points. Obviously your direct comparable that you're can look at is that, I mean, this thing's going to open up with a market cap of probably general motors, and I'm not sure that this market environment is going to just come in here and say, I want to buy it up to two dent to general motors markets caps here.I think it's going to in 78, it looks like it priced at 78. Yep. I think you get that initial hype, the initial pop. I think it's going to have a struggle to hold that 78 and maybe the market makers are going to try to hold it up there. Um, obviously, well, I shouldn't say it's probably going to open up way over 78, but I think, I think eventually it's going to have a redate with 78.It probably opens at like one 20 or one 30. Cause that's what these bloody things do. Um, I don't, but it's hard to say, you know, we don't know where these things can open. I'm just going to say if they did this last. I think the stock would show a lot more strength than it's going to. So I think it could be one of those where it opens and starts to puke right away.Okay. I think what they're doing is they're, uh, the way they're pricing the IPO, it's a dollar for every car that they produced and sold. Well that, well, that's 156 only. So somebody is not that far off $56 a share, but I mean, this is it's, it's a bad day for them to be having this. I would almost like, I guess they can't pull it, but man, you're coming to market environment where all of a sudden two days.The Mar market got Musk and yes, that's going to be a verb now must. And that's what happened to high growth here. 200 points off for Tesla they're coming in rebellion. Are they coming in buying a hand over Fest? You got the retail trader pretty spooked and hit and hit right now on some of these higher growth names.So they don't got a taste for that right now. This is not the kind of stock. This is not the stock you're looking for. There's another star wars reference. In my opinion, this is not the stock you're looking for. Dennis. You have to do the, the Jedi mind trick thing. That's what I'm trying to do to not do that.And also I, what I fear is all anyone sees when they do five seconds of research here and all they see is, oh, Amazon backed it up. Amazon knows what they're looking for and Ford, right. Amazon Ford. Right. Um, but there's more to it than that. So I bought and at Ford has run up into this event and I'm going to stick with my Ford cause I bought it.So I still think there's a lot going on here, but this has had a nice run into the CV. I think fourth string down here a little bit this morning and maybe a trades up when the rebellion comes around, but I wouldn't be chasing. You could get a little bit of it. It depends on what Vivian does, but ribbon, it has a whimper here for, it could get hit too.Don't kid yourself. So talking against my buck again on where they want me and Joel, the only people on the street that do that. Wait, so you're not selling, I'm not selling my Ford now. Oh my goodness. I don't want to pay the big gain of almost 200% on it now. And two, I just, uh, I believe in this recovery for, you know, electric V I believe in electric vehicles, and I think it was still cheap UV PLI.I think it's all going to be the, I liked general motors too. And now I've liked general motors for a long time. We know I sold my general motors ahead of the report, which I didn't rebuy and it should have, uh, but I still have my Ford. I still have all my Ford. I'm sticking with it, but again, I would not be buying Ford.Now I tied a run up in the Caribbean. I'm hoping for a pullback, you know, maybe you get pulled back like 18 or something where it cools off a bit after if this R I V N does indeed. When. And then maybe a strike on it. But as of right now, like Ford's rental long ways, uh, Matt nearly matching ranges and, uh, in Ford, you couldn't get up to that.When I talked about that pre-market high yesterday and it never really sniffed at it in a regular session, but there's definitely a seller lurking at the 2050 area. Your last two highs, 2042 and 2051. There you have your Southers on strength. And right now I'd have to say, 1935 is your support. That kind of splits the two lows, 19 33, 19 34, that splits the two lows, uh, from Monday and Tuesdays.That's what I'm looking at. And Ford SLPs did undercut the pre-market low. We were at 58 and a quarter. Got everybody in the water. They're going, oh, we're going to 46 50 made a new low at 56, 75. So a little rebound here going 36 minutes into the open. Uh, we'll use some Tikrit time here for five or so minutes.So dry particulars in the chat. Do I need to talk about sofa? They report tonight. I'm not sure what there is to say about it. What, what do I need to say? But so far, Martin, I don't know. They report earnings after the close. I have a small trading position on it right now. So I'll limit my comments. I don't know what I'm supposed to say about it.Um, people taking profits ahead of the report and it just also like the market environment to down a 97 cents. I just don't like this candle here. I mean, you had a big run-up. Keep an eye that that low is way down at 2028. I don't think you're going to see that today. Uh, what you need to do is get back over that low from yesterday, resisted to 2161.And I don't know, I think you're going to have to, if you want to buy this ahead of the report may under 21, but I don't think you're going to see this low at 2028 today, but that's what I'm looking at in so far. I had a nice run. Just peel it back ahead of the, I'm not buying more into that question. Uh, Hey.Okay. We got a couple, uh, not super high flying stocks in the chat, like. They also were on their own calendar. Did they report, or do they report tonight? They did know. They reported last night. Last night just did a whole lot. And you got some growth stocks going up. 20% growth stocks go down 20%. They didn't give two craps about.It never even hardly moved. Nope. I, you can say that initial tick. Okay. I did it really ticked down to $90. Is that right? On the earnings report says 89. Well, and it was, it was there for like a split second because when I, I, I didn't even see that if that's correct, like I never even saw a trade down to there.I just saw, you know, that it really didn't do anything at all. And it's still doing a hell of a lot of nothing. Um, this is still a reopening play. I think we're still in full reopening mode. I think this is more of a kind of stock I'd actually liked to own in an inflationary environment where people are going out and doing things.Um, it's not obviously an inflationary. I shouldn't say it's nothing to do with that, but I think it's a reopening plan. I think we're fully ongoing reopening. I'd actually of, I actually kind of liked the, when I still own my Las Vegas sands. I actually, I rarely add to losers in the longterm portfolio, but I bought more Las Vegas sands at $38 a couple of weeks ago.I brought my average cost basis down to 46. So I still kind of liked that play too. So I like. I mean overall, not a great trend, but if you look at, if you're looking at the win, I mean, you did, you did come off that low that the, uh, the COVID low got up to one 40 and you had a good pullback. So the monthly cost, you know, you had two monthly green candles going in a row, uh, quiet, dead, quiet in the pre-market trading.Uh, if you could get through this, a two-day high of 98 60, it got a gap fill at a hundred, coming back on the downside, 89, there was some volume on that print, but, uh, see if they can hold the close, it can hold the closed. And, uh, you know, in this kind of market that we have today, then good chance on this one, but really kind of in the middle of nowhere to win.W Y N. And then yeah, a few people were asking about SOS it's halls, the news pending guys. I don't know. It would last all day for all I know. Right. SOS whenever it's talking about, I don't even follow that stock ticker symbol, but I fall in, I don't even know what the company does. Maybe, maybe the ticker symbols are warning.I don't know SOS. I'm not sure why they were weird with hive blockchain yesterday though. And I don't know if Frank knew it, but you know, I tweeted at them like they halted that in Canada. They never opened it until like, it never opened at nine 30. It was halted in the pre-market and Canada. And so it never basically never opened in Canada until like 11 o'clock, but it was trading freely in the U S for the first 45 minutes until they had.So it was halted pending news in Canada, yet the U S on the NASDAQ, it was this trading train, train, train. What was finally, they halted on the NASDAQ too. I don't know what happened there. Why you would hold on one exchange, not on the other pending news. And then they halted it and they had some financing.And obviously I still own a big chunk of my hive. I did sell a little piece of it yesterday, just cause it was a double for me. And usually when they double, I like to get out, but I still have a big chunk of hive. That is interesting. Yeah. Yeah. That was a weird halt. So weird. All right. Hey, it's 8 59. Hey, I haven't asked for likes, I haven't grovelled enough today.So I'm going to grovel right now. If you haven't already hit that like button, please we'd appreciate that because that's how you can show our support. And, uh, and, and, and yeah, so Joel is going to go over to pre-record prep.com. Dennis is going to crawl back into his hole and, and, uh, try to figure this market out.I've they believe me, if you're doing great in this environment, you're doing great. You're in the right stocks. This has been an interesting environment and Italia, like, you know, I like consistent P and my P and L is very volatile here right now because it just seems like random stocks like yesterday.You know, I got, I was short GE and I trying to claw my way, but. And I actually did climb my way back to green somehow. Um, it took all day though. So it's like when I trade all day and I don't make any money, I feel like, you know, it's pretty disappointing, but when you start in a big hole, cause you're, you know, short a stock, that how the sun comes out with a, splits it up into three and rallies 14 bucks on the pre-mark yet.Um, you know, it's a pretty big hole to climb out of. And obviously if I would've held it and people said, well, I don't want your whole, you know, why I don't want that $14 loser to turn into a $24 or you got to cut those losers regardless. I know I lost eight points on it yesterday. Um, but you know, I didn't lose the most, but obviously hindsight, capital 2020.Sure. I should have held it. And I came right back in and I hardly would've lost anything. You can't just, you know, it's very hard to, yeah. You don't know, it's hard to interpret. You got to cut the losers when you can, you know, my game is minimizing the damage as much as possible. So, you know, I thought when it was up at 1 25, I was like, well, I wasn't buying it up there.Cause I thought it was way over, down when it came back to 1 18, 1 19, I was like, wow. You know, I just thought at 1 25, is it worth five or six bucks? I kind of thought so pulled back significantly here. Um, I'm, I'm obviously I talked to, but I'm not a fan of what they were doing here that they have to, you know, split up into three companies to try to, you know, get the stock price to go higher.And obviously the market wasn't a fan either because it gave it all back. But usually when he stocks breaking up, usually they're going to go home. All right, everyone have a good day. Go get them. All right, go get them guys. And if you want, uh, not quite the opposite, I, that would be, that would be mean, and not, not quite the opposite of is, uh, strategy, but someone a little bit different, a little bit more yellow.If you, if you like what Dennis and Joel discussed about risk management, but with like 50% more Yolo, then stay tuned to our very next show. Live trading with Benzinga Mitch is your Nate, Ryan, myself, uh, hang out with you, uh, through the open, um, doing some trades, doing some YOLOs, but also always, always, always controlling our risk and really just hanging out through the open.Right. It's the most fun time of the day. So that being said, please remember all the information from our show meant to be used as informational purposes and not for investing or trading advice. Thanks to our guest, Joel Kaleena, thanks to Aaron Bree and right behind me. Thanks to all of you in the chat.There he is. And I'll see you guys over live training with Benzinga starting in like two minutes.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

TODAY BENZINGA GLOBAL FINTECH AWARDSWatch Here LIVE!Episode Summary:GE splits into 3 companiesRoblox earnings RBLX AMC earnings AMCLidar stocks LAZR EVgo ripping EVGORobinhood data breach HOOD2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Dave LaValle, Global Head of ETFs, Grayscale Investments 33:00Meet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://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.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Oh, my gosh, everybody. Today's one of those days with like 10,000 things happening, there was no way we're going to cover everything that we want to cover on today's show, but that's all right. We're going to get to as much as we can. Let's get this thing startedcoming to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn. And this is a vowel tile puppy here. Isn't it. And Dennis Dick I've been the penny. I will buy the stock for pet with everything that you need to start your trading day.So, as I was saying a lot to get to on the show, we have earnings, you know, this, we have GE probably our story of the day. We may get to, if we have time, Robin hood wide, our names raping here, uh, Nvidia AMD. There's just so much going on. Let's bring Joel on here. Joel. Good morning. My head is spinning. I can't keep up with the market.Please bring up your shorts for us and let us walk through them. And then we'll bring Dennis on. Did I, did I miss the intro? Oh, okay. Sorry. I missed see a downtown Detroit. Let's see here. What about six handles at 46 88? We made a new all-time closing high yesterday, but we didn't make a new, old time highs that made sure forty six ninety four.I'm going to call that the number for the remainder of the week down five, three quarters handles at 46 88. Crude up 34 cents in 82, 26. She's kind of hanging out here above 80 tills. If we can hold 82, the remainder of the session, gold down to tab, but still above 1800 silver stuck in the 24 handle.That's down about a diamond 24 44 Bitcoin futures up $1,570. 68,000 oh 55, Ethereum. That's up $35 and 75 cents and 48 35 and a half. Ah, we got a big trip. It's triple D ready to come on or he's always ready. How are you doing dad? I, I feel you have. You know, there's, you know, and in the casino and everything, there's an edge, right?You're trying to trade the edge and your edge might be 51%. It might be 52%. Maybe you got a kick ass edge, and it's 60%, you know, it's all about the edge though. You've tried to take the edge, but on any edge, there's a random, you know, on any given trade, there's a little bit of luck involved. It's random, good luck sometimes.And it's random, bad luck sometimes. You know, we know I trade overnight. I often have 50, a hundred positions overnight. Sometimes they don't have that many positions. I didn't trade much last night. So I didn't have very many positions, but I happen to be short one stock. And I want the chat to guess which stores, which stock do you think Dennis was short over nine.I'm already covered so I can freely talk about it, but which stock do you think I was short over? Let's drive for guests is in the chat, drop your guesses in the chat, and you can tell them in a bad mood kind of already. So, you know, I'm probably on the wrong side and if roadblocks will be a bad guest, cause I don't take stocks, he was short into earnings.It's usually going to be random news and yeah, they're getting it now read the news. Random news, financial engineering hit me in the pocket book here this morning. I'll tell you that much because yes, indeed. I was short general electric overnight. Yes, indeed. I have covered general electric already and ate my loss because when you get hit with random news and you're sure to stock overnight, what do you do?You eat the loss and you move on. And that is what I have done here. I came in John, when I came in this morning, actually I didn't get in here till late. It was 6 45 and I bring up my, you know, my I'm bringing up my quotes and bring up everything. And I look at GE and it's up 17 points. Did it get taken over?I'm like what? There was, it wasn't earnings. It wasn't on the calendar. Then I'm looking at the pro and I'm like, ah, splitting up into three companies, a little financial engineering Trek. It was 1 25. When I came in this morning, I ended up getting out at one 19 and a half. So I ended up getting out a little bit better.It's one 17 now. So I guess they should have held on more, but show the pre-market chart of GE. That is an explosion. Um, it was over 1 25. Yeah, I guess 1 25. So when that big purple candle happened there, I got out on that big purple candle and moved on, but wow. That's a, that's a bad luck yesterday. It was short caterpillar and a bunch of infrastructure stocks that wasn't good today.It's geez, it's been a tough week. It's been a tough week. We're saying you need to adjust your trading strategies. Absolutely not. So on any given thing, there's a random of lock. And if you try to start adjusting your strategies because he got a bad two run, but you have a history of the strategies working while for years, you do not adjust those strategies.You continue to do them. Um, if it was like, if it's something else going on, it's different, but you get hit with random news. That's not bad trading. That's bad luck. So there's a big difference between bad trading, bad strategies and bad luck. And once you're in the game for 21 years, you can decipher it pretty quickly.Am I trading bad or am I having bad luck? I actually traded GE fairly well. It's 1 25 and like, well, that's stupid. And then it came in and I saved myself six points. So, you know, only up losing nine or whatever you can say, oh, well, that's just, you know, horrible trade it's bad luck. So in any given thing, you're going to, if you trade.You are going to have some good luck and some bad luck. The key to successful trading around the luck is to maximize your gains when the luck is for you and to minimize your damage when the, when, when it is against you. And that's what you gotta do, that's high, you've got to approach it. You know, you're going to have some good traits too.I mean, I was long Fisker overnight. I I'm long fiscal in the term account, but I was also long overnight. That's some good luck. It's one of my favorites of six and a half percent who my I've already sold that day trading portion, but I've still got my long-term account. I didn't touch it in my long-term account, but I say on any given trade, there's some good luck there.A little bit of good luck. You try to maximize that as much as he can. So the worst thing you can do, and this is what we like talking about is, you know, different strategies. The worst thing you can do is have a strategy that works like for you for the last year. And you have a bad two days with it and you stopped.'cause, you know, what, on any given strategy with the casino close the doors, because somebody came in and hit, you know, on the, you know, and, you know, and, and hit a page, you know, on a slot machine, the slot machine pays out and they lose big time on that slot machine that day. Do they close that slot machine down?No, they keep it running and they know if the players keep playing, eventually that edge will work in their favor. So if you have a statistical edge, you keep employing it. It's like, people will say, oh, I'm having a bad trade. You know, oh, I'm losing too much on the day I stopped trading. I never do that because I'm trading statistical edges.So I keep trading that day. And a lot of days like yesterday, for instance, I started the day down significantly. I ended up scratching yesterday, so I would Claude myself out and scratch myself out of the hole. If I would've stopped trading at seven o'clock in the morning, cause I had a bad overnight trade in caterpillar and a couple infrastructure stocks.I wouldn't have got my money back, but I did get it back. Cause I'm applying statistical edges throughout the. Well, I I'm starting a big hole today because of gee, will I stop trading because of that? Absolutely not. I'm going to continue to employ my statistical edges and maybe starts to dig your way out.Maybe it doesn't. I mean, maybe I'm just going to have a really bad run in my 53, 50 5% edges, the other guy's going to hit the other, person's going to hit and hit and hit, and that can happen. But the worst thing you can do is adjust all your strategies because you had some bad. And I just have to say that you're, you're the best loser on wall street.I mean, I'm looking at that G like wanna shoot G the finger. No, you can come on and talk about it. And, you know, that's just the, yeah. The maturation process of, you know, I mean, you started with me a long time ago, but you've just taken things just like to such a far level to, you know, to be able to do this because your first inclination is man, I'm selling more.Um, I want to sell more and that's the wrong thing to do. You will, you moved on, you covered it, right? Whatever, wherever it ends up today, it ends up today. But you know what? Your mental capital right now, your approach to the market is it's different. Now, if you started that Gian, you'd be like, oh, should one 16.Yeah. You're glued to it. You're right. You're glued to it. And you're like, I can't take my eyes off it. Mom. I'll hope it's going to come all the way back down to flat. You think it's going flat today? Do you think it's going flat today? You think they could do a split the company in three and it's going to come back flat.It's probably highly unlikely. It could market can do anything. I mean, maybe it does. Maybe it comes all the way back down. I look like an idiot for covering it a one 19, but you know, maybe I already look like an idiot for Kevin at one night, but it looked pretty good compared to 1 25. And I'm thinking some financial engineering here, three for one, you know, splitting the company in the three gifts.The news anyways, I don't even know if we gave you the net. Uh, the news is what you said. They're spending split in the company into three. Uh, they're going, it's going to end up being, uh, a renewable energy and power segment. They're going to combine that, spin that off. Uh, the healthcare segment is going to be spun off as well.And what's left is the aviation business, which will be its own separate entity. So aviation healthcare, and renewable energy slash power. Those are your three segments for GE. And it's sort of the, uh, um, I don't know if you, if you want to call it the culmination, but since Larry Cole has been at the helm, what, uh, two to three years now at GE and, and, and they've, he's been deal-making from day one, he's been spinning off assets.They did their reverse, but as you mentioned, um, and, and this is sort of like the culmination of that entire. W what I will say. And, you know, we'll have Kramer c'mon and applaud this in an hour because it's trading up and he just chased this price. Uh, but what I will say, Joel, and I think you're going to agree with me here is they seem desperate to get their stock price, higher splint, like a reverse split that wasn't needed.Like, why were you doing that? Because, and they even said they wanted the stock price. Then, you know, when you split a company at three, the stock prices in the short run going to go higher, does that equal long-term growth? Is that the right thing to do in the longterm? I have no idea in the longterm and nobody knows anything, but they know in the short term, by doing this, the stock price is going to go higher.So I guess, you know, I already thought management supposed to be concerned with running the business and the stock price will look after itself. But in this case, I feel like GE over the last couple of moves they've made are more concerned about their stock price than running their business. So I want nothing to do with this long-term um, you know, but I know when he's put a company into three, it's gonna pop up and they can trade anything.So, you know, it's looking good on the charts. It's breaking out on the charts. You can see that technically here, you don't want to be short stocks, making new highs on the move. And she absolutely is doing that breaking out here this morning. It wasn't before yesterday. It certainly isn't. So, but I just think they're desperate to get the stock price higher.I think they need to stop worrying about the stock price and stop worrying about financial engineering and start running the businesses better. That's what I'd want to see if it went down for 20 years. Well, and maybe that's thing to do, maybe it is, I don't know, they've done everything wrong. It used to be a Honeywell and GE and Honeywell showed you what, you know, how to run a business.And obviously, you know, at one point in time, GE was buying out Honeywell and then that trust and she is went straight down ever since the Honeywell's went straight up ever since. So they've just done a lot of things wrong over the years. I, I was a GE shareholder for a long time. You were a two inches.Where'd you G w I wouldn't say a long time, but I think I was seven or eight years in G and it was one of the worst, worst stocks. I was in it from like, probably like 2002 till maybe like 10 or 12 years. And it was just a perennial under-performer. I think I actually ended up losing money over the course of 10 or 12 years.I remember justify and say, well, I got 3% dividend every year and I've held it for 10 years. So I lost a little bit, so I actually was still getting paid, but really that was just a whore done, a horrible stock for 20 years. I don't know if this three for one split or splitting up into three companies, turns it around.Uh, I'll just make a couple of comments. Uh, technically, um, I don't think you're getting back over 1 26, but anything can happen. Uh, 1 26 40 is your pre-market high. If I had to stop long, I'd just be laying out, offers all the way up, bigger size, the higher you go, even 1 24, it looks like a good number. If you're looking for.This is just 15 minutes support doesn't mean anything, one 15, uh, it's all done the last couple of brackets. And then Dennis, the one thing that is a positive is they didn't split it into six parts. I never seen all these companies and maybe they're all, I mean at and T did that remember a number of years ago, split it up.And I got, I have as long at T and T and I got three companies out of it and a big, special dividend and it seemed all good. And we got at and T wireless and we got something else. Dennis, I'll tell you, you gotta loosen. You gotta vine. I know we got a hole. I sold, I sold some of it, the recent, and I remember doing my taxes and I was like, oh my God, what is my basis on this?Cause I think Lisa had it from like her bat mitzvah or something. I don't know. But anyway, batmitzvah yeah, it's taken two months of her time.Yeah, we can go to Pitt. Yeah, you're right. This is, it says movers follows. I looked at the thing and I said, it's movers. I was like, I got to move her pay PayPal. I mean, yeah, the earnings. Okay. We'll go there. Uh, earnings last night, uh, EPS, uh, they beat their sales. They missed and their guidance was, uh, not great.Bill big D was talking about people who were saying, buy, buy, buy, buy, buy this end of the report. I don't know if he was listening to pre-market prep, pre-market prep plus or at the close show, because I don't remember either of us saying that it got the pop spinning, the downtrend overhead supply people seeing this at two 40 or gasping for air.Now you're making a new mold, lower the move to 1502 to 1453. What's next on my monthly. So I'm just going to go into my monthly use here. And, uh, Ooh, we're below that. And we're below. And a 2 0 6 65, 2 0 7, Collin. If you're looking for a level, I don't know if we'll get there today, but more, we are clearly back into the market where the strong get stronger and the weak get weaker and the PayPal has turned.It was Pinterest that turned this entire story around when there was rumor that they're going to pay a ridiculous amount. They say no, and the market still doesn't care. And now it gets the pop. And what do we say, stocks that are in downtown. Yes, cell the rep and holy macro, did you get a rip off earnings last night, somebody bought this up to $244 last night on the report.What a gift it was taken away in the next candle. It was taken away. Two minutes later down to 2 35 down to two 30 down to 2 25 down to two 15. Now, now you're down 15 points and people are saying it's so cheap. I'm buying it's so cheap. Cheap stocks get cheaper in this environment. How do I know that I've learned the hard way again and again and again.And I'll tell you from a trading perspective, I want nothing to do with it from a long-term investing perspective. At some point in time, maybe it's a buy, but let's wait and tell. It gives us a point of reference. Let's wait until it gives us something. And if you're buying in a longterm account a day before earnings, you know, it's always going to be a crap shoot.So here you are, but I'll tell you when the stocks are leaning down and they get the pops on the earnings pops are met with new sellers, cause there's bag holders all over the place. P pay P PYP, L not firing on all cylinders here. Now it is now down to cool hotter points from the all time. So, I don't know what to say at a certain point in time, value investors will come into PayPal, but I don't know.And, uh, well you kind of got a little handoff to square report to the way square reacted and was all, you know, got the pop and the dump. The other thing too. And you know, I don't know where you break it down into earnings, everything, but. Did it just go up with crypto, like PayPal and square, like crypto stocks now crypto's ripping it.Well, not any, well, whatever, whatever relationship was there. Um, it's gone, but, uh, keep an eye on your pre-market law. I don't know what to tell you if you're long. Um, I mean, and why does it have to be a buy? You know, that's the thing like maybe it's time, what you don't like the whole time on, you know, talk with people pre-market prep plus gotta buy McDonald's.You got to buy maternal, this is the pullback to buy. I mean, when stocks turn like that, I mean, it's so hard it's so I'm not saying you shorten it or whatever, but you know, you know, maybe we'll look back and, you know, five years and like PayPal and square, like, whoa, where are they? You know, as we keep going here too.I mean, think about, you know, from my perspective, I was like, okay, eventually Ford and GM are going to have the catch up trade with Tesla, maybe four and a half to a certain extent GM has done well, but you know what the bottom line is, I probably would have just been saying this a year ago. I probably just would have been better buying.To be honest, you look back and yes, Ford has a hell of a, has had a hell of a run. But if you go back to a year ago, Tesla was 400 to 1200. That's a triple yeah. Four. It has almost tripled too. So it has kept up, but it was a bold call and yes, Ford is benefiting from ribbon, which we might as well talk about right now because they just took us there.And we're talking about, I mean, Ford is obviously I'm still along. My Ford bought it at $7 a year ago. Still a believer that obviously the F-150 is going to be a huge seller for them. We can't even get normal pickup trucks there and they literally can't go in there and you can't get a Chuck because of chip problem.Um, Thank you. No, it's, it's huge. Is it over done now? Because you know, in the short term, because we got, you know, the ribbon steak there, they're now jacking it on every time ribbon gets a positive headline for it. It gets jacked up because they do have a stake in Revy. And, um, I think the, I think it's over, I think it's over bought short term.I think it needs a pullback here now. I'm not selling my Ford, but I wouldn't be chasing at this point in time. I mean, it's just got to momentum. I mean, there's, you know, you're standing about 20, uh, make quick work at 20th street in huge volume. Uh, the only thing I'll say about, um, uh, Ford today is an, and this is that it's not a perfect formula.The pre-market highs turns out to be pretty good numbers because people, you know, just for a potential resistance area. Yeah. Maybe it could rip the 21, but there's so much stock that has to be moved in something like Ford, that in the way it trades is like, if they want to sell 2,784,000 shares at 2080, they're not going to be afraid.You know, they're not going to be afraid to put it out there. I mean, they know they, maybe they're actually wanting to sell it at 20, 60 or better. So I'll just keep the high pre-market high 20, 80. That's where you stand. And then of course, uh, support Reverend changed is 57 minus 42. What's that 15. So, uh, that's what I'm looking at.Yep. That's what I'm looking at in Ford F letter F yeah, my thought was, are we going to look back in a week or two and three and think, oh, that reveal an IPO. Yeah, that was, that was the. I think they've sold 156 trucks, not 156,000, 156 total. It's going to have a market cap of general motors. You know, where we're, we're in crazy town, but I mean stuff, you know, they they're going to grow and maybe it is going to be the number one truck seller of Evie trucks in the future.You know, Ford believes them. They have the steak, but you got to know what you're paying for to a certain extent. Um, I, it's not for me. Um, shout out to Lou Jacoby Ford was his pick of the year back in like January. You must listen to pre-market fees guys with her picking October, he's got a lot of call options.Good for him. He looked at Coby, you nailed the job, Lynn. Uh, so congrats to you. Um, it's 8 21 and we're going to have our guest on and around 15 minutes, Dave, the volume is the global head of ETFs at grace. So, you know what, talking to Bitcoins yes. In about 15 minutes or so smash aleck for us, you want to talk roadblock slash unity right now?Sure. I say we do because roadblocks, uh, your big game, one of your big gainers of, of, of the morning here, earnings last night, uh, EPS, we don't really care, but it did beat sales, uh, not really comparable daily active users up 31% year over year. Think about that for a second. Right? We talked about the reopening trade and everyone going back to living their lives and not being glued to screens all day, roadblocks up 31% from last year peak.COVID right. Wow. I mean the mood. And it was one that obviously not too many people anticipated because this was going down into the report and it was weak. And basically it has gone nowhere, roadblocks for the better part of six months. Now you break out and you immediately, one of the thing to consider, if you are trading stocks after hours and you got the FOMO going, bring up your shirt and at least look at where the all-time high is that a bottom line look where the all-time high is because when a stock rallies 25 bucks.In all likelihood, it's going to run into trouble where the old all-time high. As on Joel, I don't think this after hours high, as a coincidence, the all time high, 100, 3 86 after hours, take up to one oh five. I'm going to call out within a buck when it stops moving and crazy block wide. I'm going to say it's stalled out right at the old all-time high.That's your target. I mean, if you got this thing and you got calls are, and remember people, remember if you're long calls, you can always short the stock because I get this all the time. Like I wish the option market was open so I could lock in my gains. Do you know how to lock in your gains when your long calls use your calls for what they're used for?You can actually short the stock against those calls and lock in those gains, because if you're long, the 80 calls and you short the stock at 100 or 1 0 2, 1 0 3, it just locked in your 22 point gain. So you don't have to wait now the thing's 96. So remember if you. Trading options and your long options, you can use those options for what they're worth.And you can always head yourself by just selling the stock short against your calls. It's the same thing as selling your calls? Well, it also depends what platform you're on. Um, if you have the platform that doesn't allow you to do that, that allow you to short stocks, you should consider maybe if you're doing it as you know, uh, if you want to get serious about your trading, you should consider a different platform.So I mean, a lot of short sales, and this is where we look at short interest. And a lot of times those are hedges against long calls, believe it or not, but you know, nobody wants to hear that. So there's nothing in here. Uh, and the only thing you just winded no down, this was. And I just looked at, I just looked in pro member.They went down over the weekend. Remember that that was the two or three weeks ago. Yeah. No, but it's just funny. I sometimes like, I, I mark you know, like how stocks traded that day and what was the news on it? When it went down, it went down. I don't know, just like the platform was down for like a weekend.Yeah. You what this platform, this is really, uh, you, you talk about, um, a stay at home stock, you know, we really, you know, had, this was kind of lumped in, right. Wasn't it, you know, with the gaming stocks? Yeah. Yeah. I mean, roadblocks is like a kids. Like it, it's mostly kids on there. Is it not on roadblocks? It is.You're right. It's a little bit different animal. It's not like, you know, okay. We can't go to work where, you know, gonna sit at home and you know, we're going to play Activision blizzard games. I mean, I think it's kinda different. I never really put roadblocks as a stay at home play, but, but I mean, you could say it, I guess that's why it's showing some weakness.You know, we haven't had on, in a long time and I know he paid his kids. Have it, um, bill Santee. I remember him talking that he was, I didn't know, his kids have it, get him on the show. Hey, and it is a play on the metaverse too. And I'm going to say that as well. It is moving off this to his ticker. You unity.Did you see that one this morning? And obviously it's software behind a lot of the thing behind the thing. Like Jason Raza, give a shout out to Jason. He's in the chat room, the chat in the chat here today. But the thing behind the thing you don't need software is the thing behind a lot of things. I mean, packer was on this show was $89 and said, I love this company.I bought it. I sold it at one 10 Gantt taken my games way too soon. It's $168. And I'm like, why did I sell that again? Or I thought it was too much too fast. Well, it wasn't a pullback, but I didn't rebuy. It's always my problem. So that's, that's like one trick it's just too hard to like salad and rebuy it.I mean, I know you do it. I just heard. Yeah. That's where I mess up. I don't do it, Joel. That's my problem. I'm actually pretty good at identifying. I think it's over done here now and you know, maybe I should sell it, but then I don't get back in and I'm like, well, I didn't, I get back in. So you just, you move on, you forget about it as the.So the story is still intact, you know, unity software thing behind the thing with Jason always talks about, I mean, it's, I, I think the stock's going to be a $200 stock eventually. So I think on pullbacks, you gotta be buying you. Um, but it's run a long ways. I don't know where that pullback is. I'd like to be in, I know what's called you on the buying back the stock thing.Um, it was a, it was a biotech stock that you had and you sold and then you bought it back. And with Penn gaming,I think you sold it like one 20 and then you bought it at 95, then ended up getting taken over at 80. It was, it was a. It was a fun. It's been a lot of different trades. I read, bought it and averaged up and then it ended up hit averaging. Oh, Celgene. I hate averaging up. And so I had my cost basis on cell gene.I'd bought it years ago. It was like $25. And, uh, the stock went to 150. You pulled back to 90 and I doubled down, I brought my cost basis up to 60 or something. I liked the cosmic of twenty-five to 60. And then the stock trade actually down after that to like 50. And I was like, how did I take a 400% winner in my longterm portfolio to a loop?You know, so anyways, he mentioned did get bought out by Bristol-Myers I believe. And it was, um, you know, a hundred dollars a share. So I got it back, but I like, I like that reason my cost basis that much it's probably, while I won't buy apple in my long-term account anymore to raise up my cost basis, I don't want to end up being a loser.Eventually it sucks. I'm raising up that cost basis. Unity real quick on the tangent. There's so not major. I mean, but someone's lurking in a one 70 handle. Uh, and that's not a bad number if you're looking at your old time high, your old time high 1 74 94. Now this is moving off someone else's news. I just got an echo.Now what happened? It's gone now. Okay. What are you doing there? Spending a pre-market high is 1 71, even for real. Yeah, you said you just got loud for a second. He sounds fine. Okay. Sorry about that. Um, what about door dash into earnings? People are asking about it. This is your classic. I believe this is a stay at home stock and maybe they're going to blow it away.I tend to think it's up three boxes warning ahead of the earnings. We know there's alpha to extract from being long stocks ahead of earnings. Although yesterday, when I worked on this one this morning, it is working. Ah, man, I'd be very, very, very, very extra nervous to hold this long into this report.After I saw Peloton after I saw, you know, well, zoom has leaked since then. Maybe the expectations are low in. That, you know, obviously some people are going to be thinking along my lines that, okay, well this is going to pull a Peloton. So maybe you're going to have some people that are betting on the bear side and maybe that's going to help it out.Maybe door dash makes a difference, but I'm scared on this one law. I don't have a position and I'd be, I don't know if I got the guts to be shorted into the report, but I'd be scared if I was long, just my opinion. But I looked at that Peloton down another $5 yesterday and I think it could door dash get Peloton.I don't know. There isn't a lot of history. Sorry, Joel. There isn't a lot of earnings history in Jordash. Right. But what I will tell you is this stock. If you look at the last it's three reports, right? As a public company, um, pretty much without exception will dis trades down after maybe the trend is not your friend here.Maybe it's going to trade up. Do they? It's down by restaurant. Like, did you ever see statistics like that? Because to me. Someone that gets door dash for McDonald's. Okay. I mean, it's, you know, I'll be at the uptake, you know, sneaking your fries, you know, which I used to do with, you know, when I used to get the kids on Saturday night, we go out, I'd get them to burger king special.They'd be like, dad ate some of my fries. And, uh, I just, what did I, you know, you spend tele I haven't been to McDonald's in a hundred years, but you spent 10 bucks on McDonald's and your bait, what, two 50 to get it delivered. It's going to be cold. I don't understand the concept. Obviously. I'm not treated.Do you want me to go on a two minute story on mash and McDonald's this, this reminds me of a story. So, um, I, I, won't obviously per se, the person named, but friend works at a mental health center and they're inmates there. There's some long-terms that are just in there forever and they get some discretion.Apparently they get discretionary income of like a hundred dollars a month where they can just spend it on whatever they want. And I guess this one guy at the mental health center order. 30 big Macs every single month. And he hasn't delivered like door dash to him in the mental health center. He sits there and just eat big Macs for two days.What's that? Joel share them with anybody. I don't think so. I think he just liked that. I didn't know. They have like discretionary income, like obviously, you know, you're in there, but you have not for everyone probably, but the way Terry, I don't know, it's like that everywhere, but there's some type of discretionary income they get every month they get like a little allowance where they can spend what they want.And every single month he orders like 30 big Macs. This sits there and eats them all so awesome for like the first three big Macs. And then he'd be sitting there and you're like, I don't know if he eats them all at once setting or if he eats them. I think you would probably need them over the course of a couple of days.That's amazing. Dash has a place for that person right there. Wait very well, go out and get the big Macs himself. The way this is also off topic. But did you read the article the other week about the guy that ate all his meals at six flags for like two years. Oh, wow. How'd you feel you like six flags. He realized if you buy like an annual pass, you get two meals a day and he, and he worked right next to, to the park.So he just stayed at the six flags. Anyway, the big Mac or the McDonald's show from the guy, like 15 years ago, supersize me. He made a sequel that was all done. Oh goodie. And apparently all is after eating McDonald's for 30 days straight for every meal, he was ready to die.The stock went straight up after that. So it got so much publicity. They're like, oh, it's going to be bad for it. But McDonald's was like 18 Derma. That was the back end, like 2002 or 2003. It was like McDonald's bottom. When it got down to like $18 a share supersize me, he was going to put McDonald's out of business and it got so much publicity from that movie that the sales explode.Just see what goes on out there. Uh, this is not a good show that Raz is listening to here. Okay.I'm bringing this back here. I'm bringing this back. We have our caseloads. I'm going to bring them on right now, Dave, a vol a global head of ETFs at gray scale investments. Hmm. I wonder what we're going to talk about with Dave. Let's bring him on here, Mr. Laval. Good morning. Welcome. Doing fantastic. We're a little bit off the rails here, but I'm traveling.Um, let's not listen. It was fascinating guys. I was, I was enjoying that. Supersize me right into Bitcoin. Makes a lot of sense, right? Oh, you can buy, you can buy her McDonald's with bare point cancer. McDonald's going to start taking Bitcoin. That's what I want to know. What is McDonald's going to start accepting Bitcoin.I don't know.you take things away? No, no. I just want to start with this Dave. So explain to us, cause you know, scale you've of course got the GBTC and you've got the Ethereum on the white coin, um, trust as well, explain that you've applied to convert the GBTC into an ETF. Explain that process for us. What, what goes into that?Yeah. So a lot of times when you talk about an ETF conversion, um, what we've seen historically is more like mutual fund conversions, um, and people. Uh, often equate kind of the GBTC conversion, uh, similar to, to a mutual fund conversion. It's actually a lot simpler. It goes back to our founder of our parent company, Barry Silbert.Back when GBTC was envisioned, he really had the belief that this was going to be. You know, uh, a digital store of value and it was something that people he thought people were going to want to invest in. And, you know, as a result of that, he made the strategic decision to structure. GBTC exactly like GLD, which is a, a well-known physical gold ETF, which is structured as a Delaware grant or trust.And so, you know, when he envisioned it, having that long-term view and that, that long-term strategic view, he structured it with the ultimate goal of actually being any ETF. It looks very similar to some of the most actively traded and most successful commodity ETFs in the marketplace. So GBTC is structured as a Delaware grant or trust.Um, and it has a couple of nuances that, that, that, that make it different than GLD. And so to, to really transact this conversion or to execute this conversion, a couple of things have to happen. Number one, it needs to be up listed to the New York stock exchange. And the second piece is it needs to, um, you know, have simultaneous creations and redemption.So, you know, right now there's no redemption function, uh, for GBTC. And so once that simultaneous creation and redemption can happen, it will behave, um, exactly the same way that GLD or SLV or IAU, some of the most actively traded, uh, commodity ETFs in the marketplace, uh, trade. And so, so it's actually quite simple.Uh, it's really a matter of getting regulatory approval. I keeps the price in line. That's such an important function there for your ETFs. Absolutely. Yeah. So, yeah. So, and you sorta hit the, on the key point there, which is that he would, he see, looks like an ETF and some people probably just assume it is some people, frankly, probably don't care that it isn't because it looks like one and some people probably very much do care about the criticality.Right. So can you explain that aside from the lack of creation, redemption process that currently exists in GBTC, what are the other differences between that. You know, versus what we know of as need TF. Yeah. So, so with all of our products, we essentially have a four stage life cycle to them. They start off as private placements and after a waiting period, regulatory waiting period, they become.Um, you know, traded on the OTC markets and after a period of time to then, you know, file form tens and become sec registered companies. And so that means they're kind of filing eight Ks and 10 QS and, you know, have a, a number of different disclosures, um, that would equate it to, to an sec reporting company that, that point of becoming the sec reporting company is really the penultimate step, um, with that last and final step being a conversion to an ETF.So, you know, it's, um, you know, it's interesting that oftentimes I'll, I'll be talking about gray scale and people will. Assume that we, we, you know, list closed end funds because you know, these products can trade at premiums and discounts. Um, but the reality is they're they're Delaware grantor trusts. Um, they just haven't had that same, you know, simultaneous creation and redemption, which again is what would, you know, optimally keep the product trading in the secondary market on an exchange very closely to them asset value and, and, you know, would preclude it from trading it, you know, significant premiums or discounts.And, and frankly, that's exactly why we have, um, you know, been so active in our constructive engagement with the sec. Um, we've been having great conversations with them for many years about, you know, our investors desire, uh, and, and demand for a spot Bitcoin ETF. Um, they want that, um, we're kind of acting on behalf of our investors.We're engaging with the sec. And obviously most recently, you know, have put, um, you know, a filing in with our partners, uh, at the New York stock exchange, uh, to try and achieve this. If they have this in Canada, why have you looked in the Canadian markets, is grayscale looking to go over there as well? Or have you, I don't even know if you have, um, cause obviously we do have Bitcoin ETFs and Ethereum ETFs that are, uh, on registered exchanges in Canada.Right now we obviously pay very close attention to what's happening in the Canadian markets. Obviously there's been some, um, you know, progress in the European markets as well. Um, those two markets are obviously markets that we pay attention to, but, but are really focused on the U S market. It's obviously where the vast majority of our assets are.Um, and in the history of kind of, you know, the ETF market more. I think there's been a tremendous amount of, kind of what we would call southbound flow when there's liquidity and when there's ticker recognition, um, we've found that the Canadian market, uh, comes to the U S market. And I think that's something that, that we would think would be similar with, uh, GBTC conversion as well.You, uh, Dave, you mentioned the trading at a premium, uh, the, the ETCG also, you read also trades that are premium to net asset value. And, and as I understand that, uh, a pretty big one, uh, and that's a feature, not a bug. That's correct. It's just a feature of the, of the, the reality of these products trading, um, on the over-the-counter market, still being private placements.They're obviously trading in the public markets, but, you know, still have, um, you know, a creation function, um, you know, or a subscription function without a redemption function. And so ultimately it's as a function, you know, this is, this is a matter of kind of supply and demand and, and, and fixed number of shares in the marketplace and supply and demand will deem whether or not this product is going to be trading at a premium or a discount.They behave like a closed end fund in that sense, but they're not closed end funds from a structural perspective. We're on the line with Dave Levow global head to ETFs at gray scale, um, you know, getting away from the ETFs and getting away the way the currencies trading and everything. Can you like put your futuristic goggles on forming and, you know, You know, when all transact or, you know, like, uh, a larger part of us dollars transactions are going to be in big point.Cause that's the thing to me. Like I carry my credit cards. I'm the only person that probably carries cash. I mean, eventually it has to be more transactional. What, what do you see and better yet? Like what cup? I know there's companies working on it. What do you see? Five years, 10 years. 15 years. What do you see Dave?Oh goodness. That's a tough, that's a tough one for me. You gotta, you, you have an ETF guy on the line here. Um, what I, what I would say to, to answer that question is, you know, I think Bitcoin has proven itself to be a store of that. Um, you know, in, in terms of some of the other products in the marketplace and in digital assets and digital currencies in the marketplace that are really more focused on, you know, transactional, uh, function, I think Bitcoin has proven itself to be a store of value.And as a result of that, um, is really finding a place for an allocation in investors' portfolios, uh, as such right alongside their gold allocations or other allocations at different asset classes. And so the reality that digital assets are now being viewed, um, you know, by not only self-directed retail investors, but all the way to the largest institutions in the world.Um, you know, all of these investors are looking for an allocation to, to, you know, digital assets and digital currencies. Uh, as a real asset class and there's a segment to their portfolios. And so I think that's a really a critical, critical component to how this asset class is going to develop. Um, and I think there's certainly going to be opportunities in the future for different assets or different currencies to be more transactional in nature.But certainly as we look at Bitcoin and some of the other more mature coins, it's really a matter of, um, defining a store of value. Dave, good question here from our chat from TJ Mosley, cause you mentioned you'd have to apply this to the nicey. Why not? The NASDAQ. Uh, we've been a long partnership with the New York stock exchange.Um, they've been good partners with us, uh, you know, through all of our regulatory conversations. Um, you know, it's, it's, you know, CBO and NASDAQ and nisay, um, our, our three listing venues that would be, you know, national exchanges that we could contemplate are up listing. Um, we've had a really strong relationship with the New York stock exchange.Uh, absolutely nothing against CBO or NASDAQ or their platforms. Uh, but the New York stock exchanges who we've partnered with in the New York stock exchange, um, with their ARCA platform, which is their ETP listing platform is who has submitted the 19 before filing on our behalf. And then I imagine you're feeling better about this whole thing now than you were two months ago before we got our futures ETFs.Whereas now that we have those big corn futures ETFs here in the U S um, I guess, how do you feel about. The likelihood, because like you said, it really, it all comes down to sec approval here in getting, getting them on board. So, um, how are you feeling about that right now? Well, look, we, we, we certainly, um, you know, chair Gensler about three months ago, you know, at the Aspen conference came out and made his kind of first statement around comfort with futures being held by a 40 act structure.And so everyone was, you know, taken aback by those comments, but, you know, look, the sec has been very consistent in their messaging. Um, and that's been very transparent in their messaging. And so. You know, uh, a few firms filed for futures based products and a 40 act wrapper. Um, you know, obviously the ProShares product was a approved first, um, absolute record inflows, which was fabulous to see.Um, and then frankly, to be honest with you, from my perspective and from the industry's perspective, uh, the entire marketplace responded incredibly well and that product has been trading. Um, very efficiently, uh, with tight spreads in the secondary market. Now there's obvious differences between a futures based product and a spot product.Um, we, we, we certainly, uh, prefer and think that the spot based product is a better structure. Um, you know, futures based products are inherently more complex for the asset manager, uh, to manage. And then also for, for investors experience, uh, in their interest in kind of, you know, precisely tracking the underlying asset.But we were very deliberate, um, in when we timed our filing. And once the sec had approved these futures based products, um, we felt like it was the perfect time for us to re-engage formally with the 19 before filing, uh, which would allow us to get back into a really constructive dialogue in the public forum, um, allowing us to, to engage with the sec in the staff, uh, and to find a path forward for this spot product.Again. Uh, our investors want this. That's where the demand is. And so we're acting on behalf of our investors and really amplifying their voice. And fortunately, since that 19, before filing has been, you know, publicly noticed, uh, we've actually seen some, some, you know, positive comments, uh, where investors have come out proactively in and really kind of exercise their own voice in, in support of this filing being approved.So October 19th, I believe. What the filing maybe give or take a day or two. Uh, and you've got a 75 day review window, right? Well, it's a little bit different. Um, so, so you, there's different types of filings with different, um, you know, public kind of notice period. So for this particular filing, um, it's a 45 day period.Um, that 45 day period could be extended by another 45 days. Um, then there's, uh, uh, another notice for proceedings, which could extend it for another 90 days and then another 60 days after that. So frankly, sorry to sorry to confuse. It's a 240 day, um, you know, uh, essentially comment period in, in four separate stages.So, so sorry. I, yeah, I wish this, um, I wish this could be a 75 day waiting period with. Immediate effectiveness, but, um, that's not, that's not the structure that we're in. Uh, part, part of the reason why I think there's some confusion around that is with the, the Bitcoin futures product, um, in a 40 act rapper fell under a rule that is commonly known as the ETF rule.And that ETF rule essentially allows immediately effective filing. So you file for a product that falls under the. Uh, ETF rule also known as six C 11. Um, and after 75 day waiting period, that product becomes effective and it can start trading and be listed on an exchange. This particular product doesn't fall under, under the, the ETF rule and therefore requires, um, more review by the sec.And so there's some statutorily, there's some. Timeframes and waiting periods and comment periods. You started off saying how simple this was, but now look, look, guys, it's not a simple thing when you do something novel, uh, in, in the markets. Uh, but we're committed to it. We're excited about it. Um, you know, again, we've been having a constructive dialogue with the sec for, for years now, we'll continue to do so and listen, we're sympathetic to the STCs position right now.This is not easy stuff to deal with. Um, but we know that we have a strong voice on behalf of, of our investors. We have over $40 billion that are, that are tied to GBTC. Um, we certainly want to see this conversion happen again. Um, we, we want this product to be tracking the net asset value of Bitcoin very tightly.We know that if it's in a spot ETF wrapper, it will do that. Um, and that will allow our investors to have a real true experience, uh, and their exposure to Bitcoin. Got it. Dave Laval is the global head of ETFs at grayscale investments. Dave, a pleasure to chat with you. Thank you so much for joining us today on premium.This is great guys. Thanks for having me. And I also want to mention a gray scale will be at the bending of FinTech awards today. They will be on a panel. How about how retail investors changed the market@fourtenpmbendingafintechawards.com for that? All right. We got 10 minutes left aim of the show, uh, and DTF.I mean, you know, the, these other company, I mean, they they've been around forever. I got, I don't. Yeah, I don't, I dunno. It just hasn't been approved, so yeah. Well, it's complicated cause you you're talking about, uh, You know, um, going off of the squad Bitcoin, which is not that, that ain't, that ain't so easy.Um, what we got to talk about LIDAR, we got to talk about a lot in regard to talking about L a Z R today. It is an absolute monster. Uh, what is this doc now like 38% this morning? It's actually come off its highs, I think. But laser announced, uh, that well, yeah, they announced that they were selected buying Nvidia for the Nvidia drive.Uh hyper-real autonomous vehicle reference platform. So Laz are. Got how high did he get this morning? 30 bucks, right on the kisser. You're now six bucks off that. So it's going to be a little bit tougher sledding. Now, as you've seen, sellers have come in, I'd be looking for an quick target here. I'd be looking to see if it can even get the 26 80 that's two 60 away.I'm trying to find support at 24, but that's like, you could say 30 right on the kisser. Pre-market high. I'm just gonna rip through these Evie go. EVD. D was your big gainer yesterday. They had another headline, actually, two more headlines this morning, a partnership with Uber and a partnership with general motors.And we're just whip city here. It'd be the trades are so hot, right? Um, I don't know like where the, you know, if it's, you know, all these things are over bought, you know, all these things are circuses in town, probably, you know, at a sprint, certain points ring the register. But, but I mean, they're in total rocket ship mode.These things can go anywhere. They want here at this point in time. So maybe you're trailing up your stops. Just, I mean, you know, everybody thinks when the stock goes from 10 to 18, it's going to fix. Sometimes they do a lot of times they don't. So, I mean, you got to know why you're in it, but while it's a big move, uh, you did hit 19 and, but you're not, you know, the bulls are not giving in.Yeah. It's so little support at 18 and see if we could get through 19, uh, if you're really, really bullish in nineteens, not good enough target for you. Your next monthly high comes in at 2195 and I suppose had a nice rally here. Did we have some data? I think we did kind of dovish data. It must be eight 30.We were talking CPI. Was it? I wrote it down. It was PPI. Yeah. I would've had to go wide, but we rallied we've we've rallied back up. I mean, by the dip wins again. Right. And that once a spy, I should stop doing the herb, just stirred, uh, just flat out buying the dips on spot. I'd probably make more money. You dip on spice tray.That seems to keep on paying. I don't know when it ends, but wow. Uh, AMC is actually quiet this morning, right after their report. Um, a lot was said within that word central y'all had, yeah. I mean, it'd be in the business of buzzwords. I tweeted that last night. Yeah. Well, okay. So then the numbers are that they're naughty, they're low and also their losses narrowed dramatically.They only lost, I think around 200 mil compared to 900 meal the, the, the year ago quarter. Um, but then like Dennis said, it, it, it, they talked about making their own cryptocurrency for some reason and except buzzwords as payments and the popcorn thing. And I dunno, NFT. Yeah. The buzzwords, they try to hit everything.Like I think that they looked through and they said, well, what is, everybody's talking about the stock record right now. We're going to talk about all those things on our conference call. It's ridiculous. To be honest. It's it's, it's honestly just ridiculous. Um, the whole thing, whatever. I mean, it doesn't go down.It's holding up. The technicals are still okay. The pullback probably gets bought. The apes are showing they can control things. So props to the apes. I mean, the fundamentals make zero sense. You know, they're trying everything they can, you know, obviously using buzzwords because they know that the valuation doesn't make any sense.The company knows that. Um, you know, I see that Nicole Kidman commercial, they obviously dropped a lot of money. There's like three of them. Yeah. I know. Cause they got a lot of money. So I mean, this is honestly unbelievable that, you know, the market has held the stock up, stock up as long as it has. So AMC and GME props to the traders, I've been able to control price here because I always was under the impression that eventually.You know, these pops on, you know, these ridiculous moves can come back down to earth, but in this case, AMC and GA's held up very well. So the apes are showing that they're holding strong and obviously they're getting more apes, you know, the one thing to consider and you know, the apes don't mention this, but obviously talking about the AMC apes, um, you know, that we're holding.So there are the impression that as long as we hold the stock, can't go down, but you were late for the stock price to go up. You need more people buying. So it's impressive that it continues to go higher and, you know, especially in the last week or so, because you're obviously finding more buyers in there.So I'm impressed that it's held up as long as it has. Am I coming in here and investing in. No, cause it doesn't make any sense, but, um, I'm not going to argue with people who made money with it, you know, get good job. A lot of people, I'm sure. I'd like to see that close at 45 0 6. That was a closed from yesterday.That's a few bucks away kind of hanging out. I don't think, I mean right now I would keep an eye on yesterday's low at 41 77. You're still a buck above that sniff 42 in the, uh, after hours. So, uh, I would say apes are still in control unless you take out yesterday's low at 41.77. And then someone in the chat mentioned, AMD, we, we, we can do AMD and Nvidia together.The mus the strong get stronger, the weak get weaker. It's a type of market that we're in. Um, at one point in time, Intel and AMD was the same price. They were both $75 a share and, and tells fall in $25 from their MDs doubled. From that point in time, those strong get stronger the week get weaker. We're back in a Momo market for a lot of 2021.We were in a constrained market. That is not the case in the last few weeks. We have moved as traders. You have to identify when the tide has turned. When the overall market has turned, it's a Momo market. This earning season changed it to a Momo market. So what does that mean? It means that not necessarily chasing works, but I want to be definitely buying just stocks that are instead of just randomly buying every dip.I only want to be buying dips on stocks and options. So because the strongest stronger than the weak weaker. So that's how I've adjusted my trading over the course of the last few weeks, as things have changed, I was just buying every debt before and selling every rep because you're kind of in this market, but now you're in the trending market.So now you're buying, if the way I'm approaching as I'm buying dips and stocks and up trends, and I'm selling reps on stocks and down trends, because those trends continue to persist, at least in this market that we're in the last few weeks. Uh, yeah, let's do a rip through a couple more here quick, and then we got to end the show at nine o'clock today.Let's do, um, oh my gosh. We didn't even get to Pinera. We didn't talk about Robin hood smile. Direct club is your big loser of the day. I got lucky in this one. You did? Yeah, because I had the. In the law and in the swing trading account, when everything was getting, you know, short squeezy, and we were talking about these stocks and I had it in that swing account, I've been looking at it.And I was like, I'm like, there's no way I'm holding this sucker through her. And so I sold it and I almost forgot about it. Like I knew I had it, but I was trading busy and I was like, oh yeah, I got a saw. I wrote it down. I was like, oh yeah, I gotta sell my son. I'll direct. I sold at 3 57, um, at five, like 26 or something, because it was like, I don't want to hold this through earnings.I had it in there because it was one of those stocks. We, you know, some of these smaller stocks had been picking up some life as of late. Um, and this was one that, you know, I thought it in the last couple of weeks, I've had it for a couple of weeks in there. You can see the consolidation that I was looking at, Juul, low fives, and shut up at a couple of times I could have made some money on this thing, went up to 5, 6, 7.I bought it around five. And of course I basically scratched the trade. Uh, but thank goodness I sold that thing right before that report, because I had a bad feeling that I wasn't going to report a great. So, yeah, the earnings missed the sales missed, uh, and the guidance was extremely light and actually the same thing for blue apron, those would be losers are the days smile, direct club and blue, ah, smile, direct club all time low under $4, 360 4, 360 4.Or if you're looking to cover short, uh, blue apron, you, you were talking about that stock ripping the other day,where the stocks,I'm just saying what it's doing now. Seven bucks. I see seven bucks. I see a long your friends. So one thing to consider this as a stock and a clear up try, and you're getting a depth. So what I just said, binds dips on stocks and uptrends, I'm just not a hundred percent. I like the trend when it's. So now you don't have you're losing trends.So that's the difference if it was, you know, like a trend down to like nine on this, you know, maybe or eight 50, but now that it's come out with the numbers and it's breaking trends and earnings on it, I don't follow the stories that are funny. Yeah. Yeah. So again, when you're chasing something, technically you don't usually want to hold it through a fundamental report.So, you know, just know why you're in it. If you're in it for the story or in it, for the earnings or any for the company, it's a different story. You're in it. Cause the chart looks good. I know JC, um, I think he avoids the earnings too. Um, you know, when he's trading, if you're just doing it just for the technicals fundamentals matter when he come to these reports, so you gotta be careful, you know, You don't get stuck with something technical trade and then caught from fundamental news.Uh, you got a wrap. I just, uh, I want to thank Irene. And Brian for both are going to pre-market prep.com and still purchasing the educational videos. And we have a couple more people. Yeah. We have a tab there, educational videos, so they can purchase these indefinitely now, or first two. And we're going to have another event which we're going to start advertise December 11th.It's going to be on order execution. You know, we're toggled slippage. We're going to talk about, you know, cause I executing your trades more looking at, you know, how we did some tape reading, but more like when you're getting down dirty, like the stock, okay. Now how do I buy the stuff? What do I use? What type of order, how do I get in it?That's what we're going to talk about is the execution. Because if you can reduce your slippage, you know, and get better execution, you can, some of those edges, you can improve, obviously that. And also just like how did, how to just be quicker, right? How to not spend a mature, how to not spend a minute on your.Trade ticket. Right. You know? Yeah. Like w so I go, you know, and obviously breaching was set up maybe a little bit faster, but if, you know, and obviously I have some automation too, but on my point and click trades, like I see, I go basically from idea generation, you know, to execution and a lot of my trades and under five seconds.So my, my, literally my, I bring it up and I can buy my stock in like, probably under two seconds. Maybe under a second. I just go out and go, boom, boom, one, click bang. Done. I go hit. Boom done. So it's really fast. Was that just you? That just sold everything just now. Whoops.We missed a lot of tickers. I'm going to hop over to pre-market prep.com pre-market plus join me, Spencer or the clothes the close today from you. Joel, I got the FinTech awards. You take, you send me a Google calendar. For the awards are uninvited. I did send you an invite. I think. Uh, uh, Hey guys, we earnings today.Pre-market prep.com. All right. This is your calendar for today. After the close look done, Tuesday. Cool. We talked about door dash, right? You got Coinbase, FUBU, win unity, big names reporting tonight. Have them on your radar craft. Disney's. I did not know that is the house of mouse is a no Housewives Wednesday tomorrow, tomorrow.Yeah. Tomorrow. Yeah. It's Tuesday. Holy crap. I knew that, but I forgot. I was looking at the after hours. I see multiple sessions here cause I look by session. So I have the after hour session on Tuesday yet the morning session on Wednesday. So I see it as almost three sessions away, even though it's tomorrow people look at one day, I look at three sessions and every day the pre-market session, the regular session and the after hours session, there's three sessions.Whatever gets you through the day. Alright, Dennis, the rest of your day, man, you can turn it. If I know it can turn around and Dennis, Hey, we're going to live right now on the Benzinga FinTech awards. What is this like the seventh annual bending of FinTech awards? Uh, Benzinga FinTech awards.com. It'll be right here on YouTube.This stream will end and redirect you to the actual show. Uh, again, been to conventional FinTech awards.com to see the whole agenda where it's spending the whole day, celebrating all the innovation happening in FinTech, financial services, trading, investing crypto NFTs a whole day. We do this every year.Uh it's it's, it's one of the biggest days of the year for our company and, and Hey, if you're in New York, Or in the area, check out the after party. I was not invited, but I'm, I, uh, I'm not in New York. So, uh, you're invited if you're in New York check, uh, go to bending offender, gourds.com to learn, to see how you can do that.And on that note, I'm ending this show, the bending, the FinTech awards are live. Please hit that like button and remember all the information on our shows for informational purposes, not for investing or trading advice. Have a great rest of your day. Let let's go start the Benzinga FinTech awards.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

BENZINGA GLOBAL FINTECH AWARDSRegister Here Now for November 9 2021Episode Summary:Dont be short infrastructure stocksWill Elon Musk sell 10% of his Tesla stake?Cannabis stocks rip higher2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Tim Quast, Founder/CEO, ModernIR and Market Structure Edge 36:00Twitter: https://twitter.com/_timquast Meet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://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.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Good morning, everybody happy Monday. Hope you all had a great productive, relaxing, enjoyable weekend. Mine was stressful, but that's okay. We are back in the saddle. It's Monday morning. Let's get this show on the roadcoming to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn. And this is a vowel tile puppy here. Isn't it. And Dennis Dick I've been the petty. I will buy the stock per pen. Everything that you need to start your trading daygood morning. Good morning. Good morning. As I said, welcome to pre-market a prep, Spencer Israel, there's joy, Alcon, and Dennis, Nick is here as well, lurking in the background. And as he's wanting to do, he'll be on in just a second. We got a lot to discuss, and then we'll recap what happened on Friday over the weekend.Last night, this morning, we got to talk about the infrastructure. Bill is probably going to be the story of the day, how to trade that. Yes, we will also talk about Tesla. Elon Musk is acting strange on Twitter again. So we have to thought about that. That's the law. We will take questions from our chat. We will take questions from Tim Quast or we will ask them questions at 8 35.He is from market structure edge, also the sponsor of today's show. So we got a lot to get to Joel. Good morning. I see your charts. We'll get it up on the screen. How was your. Ah, very good. Welcome in everyone. This Monday version of pre-market prep, 8:02 AM and the spoos are our grain. We're up to 75 and 46 93.I tried to test the low from Friday off the open, but caught a bed. Uh, our number focused number of the day 90 and a quarter. That's our all-time closing high. We've had seven higher highs, seven higher lows and seven old time. Closing highs is what a remarkable feat. Let's hope that continues today. Our crude is in the green by 60 cents and 81 87 to start recovering from that dip under 80 gold clear as 1800 up to 80 at 18 19 70 silver.It's going the same way. That's up 18 cents, a 24 34 Bitcoin catches a bid. Let's see, not a new all-time high yet on the rolling futures, but rock almost 5,100 bucks is 66,500 and Ethereum futures. They're up $276 and 75 cents and 48 0 7 triple D. Uh, when are you coming over for lunch? Like when are you coming to visit.And M and a, the borders are open. You tell me the borders are open. Orders are open. And I mentioned on that pre pre-market show with Emily, I had a gig of a photograph of someone that hasn't seen their husband in two years, keigo, Harvard. She was supposed to be there at 1:00 AM and the person got there at 3:00 AM or three 30.So I imagined that border man and the person just fly over because I've got a, one of my good friends, my own, and my good friends got married during COVID. You can fly over the border. So, I mean, it's not like you can't to see your husband. They just got to fly and not drive over the borders. I don't think no, I don't think so.A hundred percent, my buddy flies over every three weeks to see his wife. Yeah, he got married during COVID. You can fly over. I have another friend who, same thing it's wrong. Like, I mean, you can like, obviously you can't drive over the borders, but you've been able to fly over the borders for a long time.So it's no problems to fly over the borders to see your wife, but you cannot drive over the borders. So I don't know, maybe it wasn't excused by that person, but. So that, that was the goal. That was the work around in the last year. You could fly. So if I want to go out for lunch with you, Joel, I could have flew, literally gone in the Windsor, you know, airplane flown straight up into the sky.Maybe landed, try. I don't know if they have one of those or not, but to go the five miles across the border, but yeah, you could fly across. What's the nearest airport for you now? Toronto? Yeah, the bay major Toronto. Alright, so what do you got going on here? Weak, weak, overnight rocked. Don't be short infrastructure stocks.That's the tip of the day, huh? So today you don't want to be on the wrong side of the infrastructure trade. I am on the wrong side of the infrastructure tray, but that's what my overnight portfolio. So, you know, you'll work out of that stuff. Sometimes it works out. Sometimes it doesn't, that's a little bit of the name of the game on any given day.It's a lot of luck involved in trading. So we have a bill, it looks like it was passed late Friday. I don't believe it's been actually signed by the president yet, but that's, that's frankly a formality at this point. So we're going to get $1.2 trillion injected eventually into all sorts of things. And here is what is in place so far today.Steel we'll start with steel stocks, right? Take her ex ticker, C L F you know them by now new core steel is in play today. Uh, there's a lot of money going towards just broad. Um, I'm not sure what you would call it. Just broad base, just roads and bridges and things like that. Upgrading, upgrading all that right.Transportation infrastructure. Um, Evie stocks are in play today. Forget what's going on with Tesla, but Evie stocks are going gonna play today. There is a bad seven and a half billion dollars in the, uh, in the bill, uh, allocated for, uh, electrifying school buses, uh, and creating, or actually there's another center that building for EVs charging stations.So ticker is Evie geo ticker, C H T actually. EVG L also had another headline today. So it's up for two reasons, but, uh, EVs stocks, charging stations in play today. Um, what else do we have? We have a broadband broadband upgrade. So internet infrastructure is in play today. Um, you've got transit and rail. So rail railroads in play today, basically every infrastructure, right?Stock is in play today because buy in play meaning where it's strong today. Not because sometimes they say in play, meaning takeover, not takeover, not takeover, but yeah. So strong, very strong. So you can see Evie go right. There is probably your strongest, but there you go. I mean, there's so many stocks.It's like rotation station here, and there's a lot of stocks. I mean, that's the PZ luck in their flat. Well, Tesla's not helping that, which we'll get to in a few minutes, but you know, there's a number of stocks that are actually trading lower here today. Some of your tech stocks are actually not participating here at the bank, mega tech.Uh, but some of the smaller ones are not, but then you come in the lock and you're like, okay, well, what's really the driver here today. What is moving up here today? And it is all those infrastructure stocks that Spencer just mentioned. I mean, you've got U us steel X trading up four and a half percent. We got a new core.I still have new Chrome, my longterm portfolio up 4.4%. CLF I did not rebuy it. I was hoping to get 22. I might've missed it. I actually got there twice. I should elect 22 0 9 22 0 9. Even some of the show, it gets down to like 22. I'm going to buy it. It would have been the buy. Now it's up at 2350. So I want to re get my Cleveland cliffs.I'm not sure I'm chasing it up 5% here today, but then he can go into the construction stocks. He'd go to like bulk and materials VMC it's up 13.7%. It's a huge move for Vulcan Martin Marietta MLMs up 25 points here this morning. You're seeing, you know, uria is another one, obviously equipment rental up 20 points here this morning.So this is a massive. Massive moves off this and John Deere, John Deere, John, Deere's getting a lift here. I mean, obviously the cat's getting a lift here, full sculpture. I got an overnight position in caterpillar. Um, there's just a ton of stocks that are, you know, getting a lift here, uh, from the infrastructure bill.So I don't know. So what do you do? You're on your stocks here? Is this a ring, the register opportunity or is this, um, you know, a chase and they're going to go higher type of trade? I I'm, I'm not sure. I mean, it's a big, big, overnight move. And if I, and I, I never chase, you know, that I don't chase stocks, so if I'm not in it, I missed it.I missed it. But now I would be looking at maybe some of these stocks on pullbacks maybe to get in, but if you're in them and you all of a sudden get a seven, 8%, you know, in the case of like, uh, VMC trading up 7% and the pre-market like, this is a huge. Move for a stock, like, think about this move in the last month, it's moved 25 bucks, but I mean, really this thing's been stuck in a trading range.These aren't stocks that typically go up 7% overnight and boom, you've got Vulcan materials up 7% here overnight. Is it a ring, the registrar opportunity, but then you got a stock that's making a new high. So I don't like to sell stocks, making new highs, cause new highs, but get newer highs. So I think you're buying pullbacks as opposed to, you know, just, you know, selling it short here and I don't short rocket ship, so I probably wouldn't be doing that at all.I dunno. How are you playing at Joe? And you got to look it on a case by case basis and you can't. I mean, if you have a target, you know, involved in metals, they dot 2 0 9 89. Maybe take half off, you know, and see how it reacts off the open it's up almost $14 on 4,000. I mean, this is a company that missed earnings last week.Not a kid, not joking. They missed earnings last week, VMC on Thursday, they reported a buck, 54 bucks, 66, a stock traded down on that report and then they turned it around and they kind of turned it around the next day to rip roar and rally, not thing to do with the individual companies fund, but didn't do what the infrastructure bell.So people speculating obvious. It's gonna be a lot more construction going on here. Now that we've got this infrastructure bill finally passed, but as a, too much too fast, For this one with, uh, you know, the green, you know, it ended up to be a green candle on Thursday and then, you know, Friday and make that new all-time high.And then you back off, you know, you're up 14 bucks for this one. I'd be a little bit more inclined, you know, to perhaps during the register, if you got caught in that, in that, uh, in that onslaught on Fridays. So, uh, acts is acts, you know, it, it's a good level sock and it will go find his level right now.I'd be thinking, can this get to 20? Right. It failed at 27, a few days ago, twice. Now that 27 is going to be support and there's just like two, three highs in the upper 28 handle. Uh, what are the other heavily, uh, Cleveland cliffs coming off that low? That's been the lagger to the group. Yeah. 20. And see, I'd be more inclined to wait, you know, to come back into 23, he had three tops in the 23 area.Maybe get some profit taking and come back down to 23, nothing on the dailies until 24, 36. That's a five day high that. So thinking about it here, if you look at all these charts on the daily or the weekly, rather than even the monthly, right? And like every time, every time they, they were out of favor, it was always related to the bills, hung up.It's stocks not going to get through. Well, now we actually got the EV every pop was on the speculation. That we could get a bill and every drop was on. Oh, we're stuck through the, stuck in the pipes again. Um, the other word I did see I'm on Dennis side on this one. It just seems like it's past, it's not past this past.It's not past, you know it, right. I mean, it's this already been, you know, as it's been baked in the market, obviously not because these stocks are getting, uh, a good reaction. The only thing I'll do that, that will kind of the only potential negative here. We're really not going to find out on Tuesday cause it's going to take a while, but we got, got October PPI on Tuesday and CPI on Wednesday.So throwing all this money into the economy, if you guys are worried about inflation, which a lot of people are, this is definitely going to have an inflationary effect that. A little bit of an overreaction on some of these stocks. So to just give them, you know, six, 7% overnight, even on the steel stocks, which I'm long, a couple of them, obviously, I feel like it's a bit of an overreaction.Do they even URI? I mean, it's up 20 points sped up 22 points here right now. Holy, this is a huge move for a stock. That's moved 20 points. Like, I mean, it was stuck in a range of 20 point range for two and a half months. Now you get like 20 points overnight. I think it's a windfall. I think if you're long, I think you're still, when you get these ridiculous pops on, on the news like this, I think it is a ring, the register opportunity and maybe get back in and scalp your way back in.But I guess it depends on your timeframe. It depends why you're in the stock. You know, it depends, you know, on a short term trader swing trader longterm trader your short term trader swing trader again, these five, six, 7% pops. I think you take the gains, you have a longterm investor in them, you know, like I am a new core.You probably just holding on, you know, I still think there's Lino a path of least resistance on a lot of these stocks is probably still higher and just a general rule of thumb, you know, do you get filed through, through the pre-market high? Do you hold the pre-market high? Do you have a big candle after the open where, you know, you take out that pre-market high and you come back down through it also, you know, are there any levels there with, you know, some of these stocks are just in no man's land, right?So, and you can't say, oh, this is the former old time, high or old time closing. I, I think you just gotta look at your pre-market highs. See if he can get the file through and then play the court. So in also thinking about is, you know, a lot of these charts look different, right? Like Martin Marietta looks way different for sure than, uh, Cleveland cliffs or bad example.Um, what kind of does us steel, right. Or us deal, right. Or, or caterpillar, right. Or a caterpillar. That's a better example. So when you say, oh yeah. Is it priced in, is it coming too far? Maybe on a MLM maybe. Sure. Right. But on a caterpillar now, probably not. And remember, one thing to consider overall here is, you know, okay, we get an infrastructure bill and that's going to help you with government spending public spending.But what about the private industry here? The private industry is still looking. I've got a friend, the quotes, huge projects. I think I told this story already. He quotes huge projects. And when I'm in Ontario, um, so he was quoting and that's what he does. He's an estimator. So he goes on and he quotes out these huge jobs and, and he had, um, this one job where he'd quartered it out bef like why like last year and it was 450 million.The new quote on that same job is 675 now. So you gotta wonder with the increased cost of materials across the board and labor across the board. Is there going to be a few projects that gets shared. Is there going to be a few people that say, okay, well it made sense that 500 million, 550 million do this expansion doesn't make sense at $675 million.So we're just going to shelve that project. I think you are going to see some of that. You're definitely seeing it in the retail, like housing, you know, the home builders to a certain extent, you're going to start to see that because it just doesn't make sense, you know, to be paying, you know, 20, 30% more than you were paying last year.So material costs, labor costs are going to be one consideration that yes, we get boom, a huge amount of public spending that comes in to a lot of these companies. But the private industry is probably not going to be spending as much as it would if prices hadn't escalated as much as they have. So I think you've got to think about, uh, I don't know if you can say commercial, commercial construction.Uh, I don't, I don't think he told me, but he does all kinds of commercials right now. I would say, uh, you know, building office buildings right now. I think he got, uh, you know, maybe let things shake out. Well, yeah, I don't think there's a lot of that going on, but the commercial construction is still going on, but again, it's all, you know, put your CFA hat and you go to cashflow analysis, you know, what are you putting in?What are you taking out? It throws out when you're seeing 25, 30% hikes. And that's what we're looking at year over year. And a lot of areas is construction costs, pre COVID construction costs, post COVID in a lot of areas. And it goes right along with the housing market too. But a lot of different areas, there's up 25 to 30%.So, you know, we haven't seen inflation. Like I was saying that same guy has been doing this job for 20 years. He said, I've never seen price inflation. Like this he's like I've never seen in my 20 year career, you know, usually year over year, you'll see a two, 3% increase. That's 30% increase in the prices of projects that will turn people off.Just like my one friend that builds houses and he does decking and stuff. And he was saying, I don't get any calls on. And when the lumber was high and he's getting calls now, cause lumber prices have come back down. It was, the lumber is high. It's like I usually get like 25 calls in the spring to build a deck.He's like, I didn't get one last spring, nobody building it. I was going to build a deck on my one other piece of property. Like I'm not going to pay $10 for a two by four. Now that the prices of lumber have come back down and the lumber has come back down significantly. Um, you know, some of that, those projects will get picked back up, but there's other, you know, construction costs.Like we talked about electrical, we've talked about, you know, different things. This is a major consideration. So a lot of these other companies, you know, we're talking, you know, when you know, Vulcan and that these are construction material, suppliers, materials are still escalated in price and that will shelve some projects.So yes, the infrastructure builds going on. Going to get that public money feeding in, but there's some private industry that's not going to help. So I don't know if I love all these companies going for, what was that one he stocked at? Mark mentioned a while ago that they do the wiring or they sell the copper wires to cast.Remember that? I never wrote it down from one to check on that and I bet you that's gotta be ripping. Uh, but you're right. I mean, it, it, you, you don't, but you budget 475 million comes in at 6 75, either the commercial project, either a you're scaling it down. Or be you're, you're postponing it or Kate you're some cases and some cases and that's, and that's the private industry.Now, the public industry has money. They're still going to do projects, but it's limited to, I mean, the public industry is somewhat limited, so yeah, we're going to throw a trillion dollars into infrastructure. It's awesome and everything, but the question is as the private industry going to be backing off.Cause I don't think you get as much as, as you would. If construction costs had an escalate, as much as they. So, and again, we were in this environment where people were staying at home and they were doing stuff and, you know, they were happy. And obviously I don't wanna confuse commercial construction with, you know, residential construction, but people were spending money on their homes, sitting at home.I think the Chad's got your back here. I think it's a T K R O. Yeah. It's not a chicken plant. Yes. Yes. It was a chicken guy. He knows a few things. These guys are unbelievable. These cute shot is awesome.Wow. That's what they must write it down. That's what we need to write more things down. I need to write more things down. All right. Moving to, so it's lots of different plays. The question is, you know, are you chasing these docks of five, 600% today? I don't think you are. So, but I, to me, I don't chase stocks, so I'm never chasing stuff up six, 7%.All right. So I, I disconnected a little bit over the weekend cause I was busy doing some stuff. Uh, but I was not able to avoid the story of the weekend, uh, which was this tweet from Elon Musk Saturday afternoon. Unreal. Um, I'll just bring it up on the screen here. There it is. Um, should I sell 10% of my Tesla stock?Yes or no. Oh. And I will buy by the results of this poll, whichever way it goes is ridiculous. So 57.9% of the 3.5 million people say, yeah, you should sell 10% of your Tesla shares the rest. Say no. Um, what does this mean? I don't know. I think you want an, I used to sell some of these docs, probably all want an excuse to sell some of the stock.He knows how many Tesla haters are out there. So maybe thinking, oh yeah, for sure. They're going to say Selah now I have an excuse to sell it. And I have an excuse to book some of the gains when the stock price has just absolutely nosebleed ridiculous levels. So it gave them an awesome excuse. So it's down 53 points today.It would've been, and you could say more Spencer because with the infrastructure bill getting passed, it would have been up to that. Am I correct in thinking that? Yeah, so, I mean, it's probably not even a 53 point knocked out. It's probably like an 80 point knock down because it probably would have been up 20 or 30 bucks if Musk wouldn't have tweeted that.So down 54 points, obviously from the close on Friday, this is mosque at as best as adept get bought. Doesn't the DePaul Tesla doesn't always get bought into. I mean, the probably gets bought again, people obviously trying to get ahead and say, well, it's going to come in and dump 10% of the stock, a lot of stocks going to come in for sale, but that's why they're selling here this morning.But there's a lot of people that are in this, but that being said that the dip just always seems to get bought in Tesla. Am I sticking the longterm portfolio? Hell no, but nice range. What's below. They came in at 4:00 AM in the morning. I mean, I wasn't up, I know you were at up, but if you're short, you see that news over the weekend, you take it.You've been getting pounded on you're short. You get up at 4:00 AM on this car news. I mean, uh, hit, uh, 11 30, 50 in the second bracket, the second 15 minute bracket. So there couple lows, right, right. Right in that area too. So didn't even get to this, uh, I believe this was an 11, 18, low 11, 19 Val on the upside right now.Uh, seven 11 is called 1180. That's kind of where you're stalled up there. So if we take out 1180 is another 14 bucks and logically you just have to think about the bottom of Friday's range, net 1208 number comes in. That was the former old time closing high for a few days ago. Obviously you made quick work in that, uh, uh, on third.Let's see, that would be Wednesday and Thursday. Obviously we get to the bottom of yesterday's range, 1208. Yeah. Just as a chat's noting, uh, you know, got some options and he's got a tax bill due of, you know, approximately $15 billion on, on about $28 billion worth of gains. Um, and so if he takes that game, He doesn't he or he has been taking, he he's already taken the game.Uh, well, well know it, you know, it sounds to me like he doesn't have pay any tax. It didn't take any of the gains. It doesn't pay himself a salary. This is what he was tweeting. I don't follow his personal trading or his personal finances, but that's what he was tweeting. I wouldn't, my, my guess is this a guy like him is probably already selling.Right. And we'll find out eventually. Right. Because it'll all be disclosing that how's he sold any stock. I never see an sec filing with Musk selling stock though. Never see one go by as he sold. Does he sell. How's he survive. If he doesn't sell stuff, he doesn't take a salary. Now. It's not like he wasn't already rich.Right? Well, I guess he must've sold some tests of stock along the way, but I have not seen, like I watched those sec filings very closely. You can get them right through your Benzinga pro it's awesome. And I haven't seen it at a Musk filing, sell Tesla stock in years. I think he's probably not sold in years.So, so he's got these options that expire next year. So he's going to exercise them, right. That would mean a $15 billion tax bill, which is what he's thinking about. I mean, he's probably already sorted a little bit, but we don't really know what I'll find out. Eventually you kind of do because he's got a file to sell.So I don't honestly know the last time he sold stock. So it's impressive actually that he just hold, hold, hold, hold. Even when he talks against a stock, which he has done multiple times, going up, the guy doesn't sell stock, like you see, you see. Self Facebook once a week, man. I'm not joking. It's his filing hits.It seems like once a week, sucker Berg sell on Facebook. That's a plan sell, right? Well, exactly but mosque, I don't think has those plans sells. She just doesn't like they just all in on his stock all the time. He got to give him credit for that. I mean, gates the gates foundation, he does the opposite. He borrows it.He partly uses the stock as collateral, but I tell ya, like you see Zuckerberg once a week. Bayzos Salan stock. Obviously it's a forced to deal with. I mean, NEC gates, selling stock all the time, Microsoft, I mean, you see these guys selling stock all the time. I don't ever see my own stock. So you know what prompts the must for holding his promise to this guy?This guy is so hated by so many people out there and yeah, he's, you know, trolling Twitter every once in a while, but I'll give you, you know, the guy has a word. The guy is a genius. The guy doesn't even sell his shares and he lives in a 400 or 500 square foot apartment. I mean, this guy is unbelievable. I give you a proxy lawn mosque, even if everybody else hates you.And even if I don't think your stock's cheap and I don't put it in my long-term portfolio, you still, yes.Joel is holding your, your cost basis is so low on tests that you can now never sell. Is that correct? Dad? I don't even look at it. Just got a tax pillar that will rival Elan's is Joel. Yeah, Joel's got these stocks is up a thousand percent in all these stocks and he can't sell either. He's stuck. They don't want to pay those taxes either.Nobody wants to pay the tax bill. No one wants to pay the tax man, but you know, what would happen is Biden stares tax on the, on the unrealized gains, blew out would be a gameDan is, come on. We both know, we all know that that's not going to happen. So. Well, we don't know anything with this administration, but we're not going to get political here. Nope. I'm just saying, I don't know anything so well, we all know nothing. So let's move on. We've talked Tesla, we've talked the infrastructure bell.It looks like cannabis is the next thing. What I do now is that every cannabis stock spiked at the close, or just before the close on Friday night, I was like, I saw it and I thought, what the heck is going on? And then actually someone tweeted at me cause I didn't even, I wasn't looking very hard or anything.And then I, and then, and then he tweeted, oh, the Republicans are affording with the idea of their own legalization bill for marijuana. They're not going to wait for the Democrats to do it. Well, the Democrats have already done it, but they're, they're going to introduce their own bill. So every kind of a stock and the ETF spiked on that at the close on Friday.Wow. Um, give us a few examples here, because I'm looking at some of the Canadian ones and they didn't move at all. They actually went the opposite direction. So I guess they don't like the Canadian ones on there. I should have clarified. I went to grow generation two and I don't. I see it up this morning.I don't see a big . Um, S M S O S is your ETF M S O S. You can see that athlete's up again this morning at 29 9. Right. Yeah. All your, your us ones that don't trade on. Exchanges. Those all spike too. I know you don't care about those, but you can care about MSLs. Um, you know, even the MJ spike a little bit, but it's, it's gotten what's more Canadian, so it's, it's not going to be as a move as big here, but the MSLs is sort of your big play here off this headline.See these docs have been looking for a catalyst and it hasn't had one for a long time. So, you know, as opposed to some of these, uh, you know, steel, you know, they've been in, in pretty good uptrends this is the first day of a, uh, of a catalyst for I'll just go at mass. Oh. As you're bumping up at 29 50 right here.Uh, that just is a daily high, but maybe you want to think about 30 bucks on this. Uh, that's the high going back to first. Yeah, real close. It looks like 29 and a half. It looks like a little bit of selling there, but I keep an eye on 30. The stocks had been in downtrends they're getting a catalyst. This is while they, you can say this is the second day.Cause they moved on Friday. Uh, but definitely some room to the upside of each individual. Tilray we'll take a look at that. I love in box participant. Now it's a good, it's a good, a practice run. Um, I think to, to understand how the Canadian plays versus the U S plays, we'll move off a headline like this, right?Because the Canadian companies where they all, they're not stupid, they all have deals to get into the U S that are contingent on legalization. The market clearly is not interested in that because if it was then until we're able to be higher, you know, kernels would be higher. CDC would be higher, but then they're all, they're all up, but they're not anywhere near as, uh, what the, the U S ones are.So it's, it's an interesting practice run for what could happen every time we get another headline like this. So bill progressive passes through one house to the other, to the president's desk. You know, this is what could happen. The cannabis ones go up a little bit, us ones to go up a lot. Um, That's what's happening here today.So unless it's bad. So, I mean, that made a new low earnings while they also had earnings on Friday, right? Again, we've hated these Canadian ones for a long, long time. I don't follow the U S off exchange ones there, but it's been absolutely the correct call to hate on these things for a long, long time. And they continue to, uh, be a valuation issue.Now it's been a valuation issue for a long time. The buzz was hot. Story was hot. Yeah. Pod stocks taking over the world while it's, it's not hot anymore. And the valuations are nosebleeds. So that's why I've seen them come down substantially. Is there some diamonds in the rupture there always is, but overall you can bring them all up until Ray, same story, $65 back in February.It's 10 bucks a CGC and you know, probably should have never been where they were in February. That was when everything shouldn't have been where it was. Um, have they come down enough where they're cheap enough to start nibbling in. I don't know the evaluations. Last time I looked we're still bleed. So G w G is that other ones come down substantially?So what do we say? You know, what did I tweet? I tweeted this over the weekend. I believe you sell rips on stocks and down trends. You buy dips and stocks and up trends. These are stocks that are in clear down trends and you're getting reps on them. I be getting out. That's my opinion, just my opinion. Okay.Before we get Tim on a, well, let's do one more. I wasn't sure if we're interested in this headline, maybe Dennis has, but I don't think I am Regeneron here. Uh, had a PR out this morning, their, uh, their phase three study of their COVID vaccine looks like it is wrapped up. And the data seemed like it was pretty good.They said that their COVID vaccine reduces the risk of contracting COVID by 81.6%. Um, this is, this is the single, this is the single shot at. Uh, one, one single dose. Yes. Is what it is. So reg N did pop on the headline on the news. I wasn't sure how much we care, but maybe you care more than I, well, I think we care.These things had a huge down moves because of Pfizer on Friday. And then all of a sudden, boom, now we get Regeneron and this move, there is, there is so much dumb money out here because I should have been, you know, paying more attention here. But at seven o'clock in the morning, dealing with my kids and doing a lot of different things.This had got to $645 this morning on this headline. That's the stupidest spot. That's just being one of the stupidest moves that you can think about. Here's a stock. They whack it from 6 45 down to under five 90 on the Pfizer headline. They get one positive headline on, oh, we got a drug too. And they bring it all the way back.Pre-market to get back all those losses plus on what a selling opportunity, what a buy the dip and sell the rip in one day. Cause we talked about, you know, Regeneron and some of these being an opportunity to buy them. During a, definitely it wasn't a continuing to leak, but, um, and Merck didn't really bounce back much either.Although I tried to play it, but Regeneron absolutely. Um, got under 600 boom up 6 45. It's 6 22. Now it's kind of in the middle. So should it be up something on this? Probably whoever buys 6 45 this morning, though, wholly over, over. Three minutes and took off that four. I just got counseling. I was just going to say like cubits it right off that open and boom gap prints.And I just, I started with the 15 minute, but I was just, uh, I just wanted to narrow it down just to show you, you know how that's a three minute there. So here's your first three minute bar, then it, then it peaked. And then you hopped in right into this area here to like everyone like that. Got stuck here.I got, I'm getting my money back. Not a lot of volume traded, but, uh, Regeneron it's been prone to do that in the past. We'll see what happens during the regular session. I'd hate to, if I was logged in, I'd hate to see it. Test the clothes and go right on this session. Oh, Speiser holding up here too, which is surprise.I would've thought they would've hit visor on this news. They did admit. A little bit it's down 15 cents only. I don't consider that really five bucks.That's a gift up here. I honestly want to sell it out on my long-term account, but I'm averaging at $13 and I don't pay the tax. So that's the main reason I've had it for eight years in my long-term account. I'm like, well, I'm not going to sell it. I kind of want to though. So, um, unbelievable, um, that they didn't whack this thing and they, it didn't really give much back and try to give some back.It didn't really give much back and now you get everybody gonna get one of these COVID drugs, you know, post COVID some, you know, it seems like there's a bunch more coming here to my question. Let's bring it over to Madrona. We have one minute before Tim here, I'm Madonna, at some point in time is going to be a bias.Isn't it? Because it was 20, $30 before the COVID thing ever started. COVID thing is still worth some money to modern. It's not like it's a zero and, but it's the flu vaccines and the other stuff. And they're so smart of Madonna. I mean, it didn't make any sense of $497. Does it start to make sense in the low 200.Question to the chat. Does Madonna start to make sense as a long-term again, you're trying to call a bottom, the stocks and a horrible under, you know, it's one of those stocks, maybe this, maybe we should bring Tim in so we can see the market structure. It's gotta be ugly on the stock. I would assume because the stock's been going straight down, but at a certain point in time, you got to the hundreds on Madonna.Do you stick it in the longterm account? Is this a smart company? This is a good, I will bring Tim in on one second, but this is a good exercise looking at your monthly's and saying, okay, where possibly could this thing go. Right? And, uh, you know, 2 93 was that you're low on October. Well, it took it out. You look at your, your monthly is, I know you can get caught up in the dailies, but your July law was two 14.I mean, that's the monthly's and then, you know, you came down to 10 96, I mean, missing a $500, 400, $302 stock missing it by five points. If you're so inclined to buy the monthly low, that's looking pretty good right now. But, uh, you know, now you're only down five bucks on this session. We'll see. But if you could get a couple more lows in this area, I'm just talking technically.Cause I don't know if having a pipeline, I don't know, but it's just using, let, let your monthly's be on something like this, something that wild with all the news coming out, you know, go a little bit longer term. Don't try and drill down on a daily, just cause it's going to get right over on a stock like this.Right. I should have called today's show. I don't want to sell cause they don't want to pay the tax bill. I lost it is 8 37 on a Monday, which means, you know what? It's time.Oh, good structure Mondays with Tim Tim, how are we doing? It's good to see you guys. Uh, well, thank you another day older, uh, which I guess beats the alternative. Uh, so, uh, Dennis, it's funny that you're talking about the tax, um, impact and how that influences your thinking. Uh, w w my wife and I, because she spent 20 years in the energy business, have some MLPs, so master limited partnerships and energy, and it's the same drill as a Pfizer.You, you look at it and think that the, the amount of taxes that you would pay to get out of that position are just, uh, just ridiculous, but, uh, averaged in the new cost basis is almost nothing. And a lot of people that have been buying stocks for the last, like, if you bought some stocks, you know, good stocks, 10, 15, 20 years ago, like I know a lot of you, their cost basis on apple is like three or four bucks.Mine is 25, but you just think. Your, your cost based on this. I do. I realize this is only long-term account, but I'm like, do I really want to, you know, if your insights, you know, your, you know, your Roth or whatever, but if it's outside, I have a lot of money. I mean, I don't want to realize this tax gain and they give half the money away.Almost exactly. It's a consideration for sure. Yes, it is. And I saw that you were talking, go ahead, Spencer. I think I was going to say, Hey. Yeah, let's uh, so, uh, for you fans of supply and demand, let's look at the supply and demand in Madrona. Cause it's I made some, it is very telling Joel, I think you said it must have horrible.It was Dennis or Joel said, boy, it must be. And, uh, okay, well, you're right. It is so,so, so once if you've never seen this before, uh, folks, this is, so this is market structure, edge.com. And you can do this too. Just you put your name and email in and, and no credit cards. You can look at this same data, you know, for 14 days, but here's what, here's what the data tells us. The top graph is demand versus price.And the bottom graph is supplying short volume. And so when demand is falling and supply is rising, what will price generally do? Go down it's I mean, eighties ugly. It really is. And it's been, you know, the interesting thing is that for a period of time, Madonna was at the very top of our, we, we will, uh, top of our list here internally.We will track how much time stocks spend at 10. So 10 out of 10 is the absolute top of the demand chart. And so if demand is very strong and supplies, constraint, price will continue to rise. And majority was there for a very long time. Uh, but it hasn't been, it's been spending more time below five than above it.Very challenging. I may be, be much better to look at a stock like Arista networks, uh, that that's, you know, I'll give you the, it's a great contrast. So if you look at the burner and you look at, uh, Amy, Stock I traded last week and it's, uh, you know, it's just fabulous. So here's the difference. Notice this demand rising supply falling, what does that tend to produce rising prices?And modern has got a long way to go if it, unless you have a, as, as you said, Dennis, unless you have a long-term note that was Joel to, uh, if you have a long-term perspective, fine, but why buy something that's likely to decline? We want to, I generally liked to buy stuff that that's likely to rise. That's my preference.Yeah. Your system's very it's it's, it's not a it's, it's a momentum system. It almost feels like which is the momentum market, which is why probably works well in this type of market. We've been in a momentum market for a long time where the weak seem to get weaker, the strong seem to get stronger. At what point can you make money on the turns?Like when a stock finally, you know, decides to stop going down and it looks like it's exhaust and salary exhaustion, and eventually, you know, you start to turn like, in the case of Moderna, what would it take for your assistant to turn around and say, Hey, this is, I was actually starting to look okay. Now demand rising and supply fault.Right. And it's that simple if we, you know, if we back up and look at the time that, uh, I'm just going to back this up six months. So if you go back to, uh, Early may early may was a great time to buy Madonna because it had those very characteristics, surging, demand, falling supply. That is a very, very consistent characteristic of stocks that produce returns.And, uh, you know, you, you can come with up with all the reasons in the world why you might like a stock or not liking stock. Uh, what it all comes down to is supply and demand. That's that's really it. And where did that stop? It really stopped here right in September when Madonna did not return to. That was the time to leave and go find something else.Yes. It produced some more gains. And it was for the same reason, uh, the supplies falling demands rising. But we already know that the, you know, w I will say, this is, this is a product of passive money, passive asset allocation dollars. We'll spend a particular amount of time and stuff. And then it's going to have to reweight if that stuff goes up and you might as well go find something else like Qualcomm or Airbnb, you know, Airbnb, another, another great stock to look at from a, from a supply demand perspective.It, it, you know, we, again, we could talk about the financial performance, the opportunities in that business, but that's not what causes stocks to go up and down. It's supply and demand. And here you go. So you have a surging demand side falling supply side that will produce rising prices. And when those things stop, then.It's a, you know, it's a, it ain't over till it's over as Yogi Berra said, uh, that's really dating myself and for you youngsters, great New York, Yankees baseball player, catcher, uh, world war II. But, uh, you know, that's, that's what you want. If somebody was asking, if you could look at D whack, I don't even know if you have send you.I'm not sure we do yet either. We'll take a look because it, so here's the, we load up. We, we buy data that will. Everything in the market. Right. But we won't populate edge until there are about 20 days of data. And I think we're, we're getting very close to that. Uh, so, so otherwise we D we can't, we can't calculate supply and demand without some, some historical data.Yeah. Uh, one thing, uh, I would like to ask you about is last week we talked about, uh, well, maybe not with you, but we talked about on the, on our show, Dell and VMware, the spin-off happened last week and now it went into effect and now they're different companies. Can you look at those, those forests? And, and I'm just curious now that we're a couple of days out of that, of that event, how, how the market digested that, and I fully expected to be taken to task because I I've said a couple of things last week about Dell and VMware.I said that probably Dell does not have the same opportunity that VMware does. And I don't mean immediately. This is a big deal. This was a, this was a, a $27 a share shift of value from VMware to Dell. So it's behave. Like a stock split. So Dell's price reset to about, uh, 56% of what it was before. So we could calculate that pretty, pretty close to where it would be.Uh, but, uh, so, so here's Dell and you'd look at it and say, well, that's not great. That is it. And I'm not, I'm not saying that you should buy Dell, but once again, notice, uh, the demand side was very good before the deal, because everybody wanted that $27 of a cash distribution, but then you have falling demand, rising supply above the trend.That's not, that's not great. So let's look at the VMware. I think VMware has a lot of, this is not a supply demand equation. This is where I would have an opinion. I would say the, my opinion about VMware, uh, which is now bottled by the way. And it's very rarely a one. Oh, that's very, I mean, if you have the demand side all the way to one from a 10, 10 to a one, like overnight.Exactly. Right. And it did because all of that cash came out off of, uh, VMware's balance sheet and went to the Dell shareholders. But look at that, you know, so here we have demand at the floor supply falling that will produce gains ahead. And I think that VMware is a great, uh, potentially, uh, beautiful way for passive money to have exposure to the cloud.Uh, now that that, uh, Michael Dell was no longer the controlling shareholder, he still owns 40% of it, uh, that creates a better opportunity for passive money to own it. So that's not a, that's not an, a. Uh, look at the way things work, but it's something to think about. If you have a longer. About the cloud.If we could show my chart, uh, kind of interesting here, uh, you had three lows in the same area during the unwind and, uh, you came to that area. It was like a ballpark 1 24. And then you had three highs right in the same area, 1 36. So you got people ask about rain stocks, you got a nice range developing here.You got some lows to lean on and Dennis, I'm gonna throw it to you. Do you think it was finally, you know, did this kind of, this action here? It's usually like a wild stock. You think it was finally like ARBs, like the final unwind? I mean, you know, I traded VMware Dell for a decade. I feel like a long time he got ran over one time.Why was that there? I did. Why wasn't that? I don't remember what that was. They were talking about doing this spinoff, I think is what happened. I almost really got run over. You know, and I'm trying to remember all the logistics. I haven't played the VMware Dell in awhile, but yeah, it was mild. The spread was mild and they blew out and you put it on and then it blew out again.And you're like, I can't, I don't know what the relationship was. And then it, like, I don't know what the number was, but when I had talked to you afterwards, it was like three or four times where you had covered at a big loss already. So yeah, it's a, it's a point where in Tim's making that point too, like the arbitrage of facts are greater than anything else.And when you all of a sudden lose all those effects, now you have a real company here. And I think that's the point that Tim was trying to make here is, you know, it's it now doesn't have all those arbitrage effects in it. So it's going to move differently. And we can see that, you know, even in the last week, like look at the movement and VM-ware all of a sudden, it's like, it's a volatile stock.As people try to reprice, what is this worth as a standalone. Yeah. And the, the looking at the short volume data, which you can do with edge, uh, it was, it was apparent to us and I should, you know, so, so, uh, full disclosure, both Dell and VMware, our customers about. Uh, data on the corporate side, they have been from for a very long time.So we track this data for them, very closely heading into this transaction. Uh, but it was very apparent from the point that that transactions notion is not even confirmed. When that rumor hit the markets. Dell became the long side of the trade. VMware became the short side of the trade, and you could see that in the data, I'm looking at a year long chart for VMware and their short volume averages, 55%.Well, it's very difficult for a price to rise. If more than half of the trading volume, every single day is borrowed is artificial supply. But now we've seen short volume dropped to. That is approaching what it was in December of 2020 when that story broke. So we are returned and that proceeded some nice gains from December to about March.Uh, there were some pretty good gains in VMware, December, 2020 to March, 2012, right through the pandemic. Uh, but that means there was a distinct change occurring to your point, Joel, about, uh, the arbitrage play, the arbitrage play is over the long short trade in DIA in Dell VM, or is over. And I think that that opens the door for some very significant appreciation for.Tim question in the chat. What you think about PayPal here? What the market structure sentiment says about PayPal goes down every day. It goes down every day. That's a dentist side of it, and then I'd like to buy it, but yeah, sure. Good. So, so, and, and once again, so for you veterans of the edge mob, you know, you don't want to, uh, by, by, uh, uh, falling demand, right?That's I mean, that's the, that's the whole point of the deal. So here's, here's. The supply side isn't bad, but there's a point where the supply side will reflect a lack of interest. Uh, so let's look at supply and demand. This is just 30 days, but look at the amount of time that PayPal has spent above by it's free days, three 30.It's horrible. So even though the supply side is, is, uh, it has fallen and it's only about, uh, it's, it's less than if that's, that's an ideal stock level, um, of a short line, but you look at this chart, this is why PayPal continues to go down. You can come up with all the reasons in the world, the story then, whatever, you know, but here, here it is the supply.The supply demand equation is a Bismal and in less than, until it changes, unless those things can diverge, leave it alone. Tell us again, when you know, you see that, you know, change. So a lot of people are looking, I want to buy PayPal. I want to buy paper, same thing with Madonna and stock goes down every day.You can't help yourself. You just want to buy it because it's getting cheaper. Um, you know, you think eventually it's going to turn it around. We want to get the timing right though. So what, at what point when we're using market structure edge, would you, what would you want to exactly see, and I know you can say in a supply demand exceeds supply, but on your numbers, like when would you want to strike?Uh, so here's, here's a case in point. So if we look at, uh, uh, roughly let's call it mid August. So here demand rises and supply has fallen sharply below. That's a spot where you can take a chance. You can say it's, it's riskier than buying it above five, because you're saying I'm going to believe that demand is going to at least achieve equilibrium and maybe exceed supply.Really. That's how I think of it. There was a 10 point scale and five is the fulcrum. And there's, if there's more demand that it's above five, there's less demand than it's below. So that was the only shot. And the moment that short volume shot up here to see this, uh, you should be out if that happens, just leave because it already is telling you that the supply demand equation will not support the price any longer.And it's not been worth paying any attention to since then. So you would say, well, how, when would it, well, you could sit around waiting, but you might as well go trade something else. We find that. You know, we'll, we're very close. This was what I'm Spencer. I told you that I was going to share something new.Well, within a month of just putting this in a portfolio for edge users, we'll just give you the stuff that in the last five days has this divergence and, and that's that it's, we've been testing this data for Mo we're to running it running test and data and saying, is there statistical validity to this?And there is. So we're finding that the top 25 of those 23 of them make money consistently. So that tells us there's great, great statistical significance in that diversity. And if we can do that, then who cares about whatever else there is. Let's just trade that stuff. And, uh, uh, that's that's stuff like team, you know, if you look at team, which was in the top 25 in that list that produces gains, see this divergence, wherever that divergence occurs here, rising demand falling supply here demands at 10 supply falls.The stock's going to surge when that breaks down, then you leave and here at Hassell ready? So see that short line was above trend demands at the top of the ceiling. Okay. Move on. We'll find the next thing. But that to me is more important than sitting in, waiting for PayPal to become a good stock. You can find more about, uh, Tim's platform.Learn more about a demo at yourself. Go to market structure, edge.com. The link is up on the screen there at the bottom. That's also in the description. Tim Quoss joined us every Monday at this time, Mondays Tim pleasure, as always to. Okay. Let's do some real fast ticker time. So I just want to say real quick for your PayPal people.If you're looking for a reference area here, you to have three lows in the same area, right? Let's just call it two twenty five. So if you think this is over done, you may be a to pay up a little bit. You got to keep an eye on that area, but what you need. Is for like D these are patient buyers, right. And they've been waiting it for it to come down to 2 25.What you really need is like, are they going to step up to two 30? Like, I can't get any more to 25 down, you know, but I still want to own another 5 million shares, you know, do I wait? Do I stay? But you got three loads in the same area. The ranges have come down a little bit. Uh, you know, maybe if you get above 2 30, 2 and things kind of open up, but at least you got a reference point here.I don't know if there's, is there anything on the monthly surround that area? Yeah. You got a monthly, you got your, your, your March low at 2 23 0 9. So you have a reference point whether it's going to hold well, we'll have to see in today's session, Steve Janney asked a while ago. He, he got his request in there early.He said he asked thoughts on square after Friday's fall. Um, and is that thing a crazy stock too? Yeah. Yeah. I don't know, like you got to pay pal problem here too, that this Paris traders I've tried PayPal squirrel all the time. So when I see PayPal this week, it makes me not want to own square. PayPal starts to turn.Maybe it turns it around, but you got to understand the relationship with PayPal and square, the same company. No, but there's ARBs out there that do trade them with each other. So I know square disappoint on earnings. And you know, obviously while they didn't even know if they disappointed the rally they'd hit it, then they rallied it.Then they edit their, I guess they finally determined that they did disappoint, but don't discount the fact that the pressure that PayPal weakness will put on square because there are relationship-based traders that pair those two stocks up together. So I think until PayPal turns around, it's hard to just jump on the square banned.Uh, they'll defect a technical set up here because you have distanced yourself from the low a little bit. So if you are trading up a buck 12, you do have the parallels it, uh, right around 2 31 to lean on 2 30, 1 to 32. So I'll be looking at it. It's not like that. The PayPal where, you know, you got you Def you know, for the time being, whether it was someone trying to get long or short, this has got a little bit more, you just kind of taking a stab after the big down day on.Okay. Somebody was asking us really badly about lucid motors, LC I D a stock is up again. It's a monster. And I mean, these EVs and this is infrastructure too. So you've got obviously clean energy place here coming out of the infrastructure you're seeing, like I said, Tesla would be up if not, if it didn't get masked over the weekend, but you can go to all the players.They're all trading up here this morning. Um, Lou said has just in, it's in monster mode here right now. Again, are we getting to a point where, you know, sell cellular peanuts while the circus is in town? Maybe, but the stock just broke out here again. So, you know, I like it. I like the breakout over the 41 60 high that we had just from four days ago.Now we're trading 43 50. There could be room to 50 at a certain point in time. You got to say, okay, it was $25, 10 trading sessions ago. At what point in time do I ring the register? I think you're lightening up and. But to call the top on this, going to be difficult. And you know what, if you're in it, maybe you're just raising, you know, maybe just trailing up your stops.Uh, someone's selling their peanuts at dot 44 19. That's uh, yeah, I don't know how many they have. Oh, look, I fault the peanut. There's some, there's some volume there. Whoa. This has changed the volume 4,419. So keep an eye on that. I don't have anything else, uh, on the, uh, on the dailies, but Hey, you take out 44 19.You hold 44. You know why the heck not maybe look for 45, but at leastJoel, did you miss a daily gap at 43 94? Up to 50 32. I have to go farther back on my day and our gap trader accountable here. He likes that. Well, how's the, where's the gap. Look at it right there. It's been trying to fill it forever myths with the eyes. And we like to sit gaps eventually liked to fill.Does this fill this gap? Yes. Mitch's money. Mitch is saying, yes, you, this bullish money. Mitch is still bullish lucid. Okay. And you get your orders out and uh, just make it safe. Make it 56 instead of 5,600. We've had a few requests for the dad. Joke of the day. I'm going to say no dad joke of the day. Unless we get to 500 of legs, we can do it, but it might take 30 seconds, but we can do just before you go to the Dodger, what about rebellion?Is that coming out today or tomorrow, today, or tomorrow? I could have sworn the movie. An IPO was tomorrow or IBN is going to be the ticker. I'm not sure when it's coming. You don't see big IPO's on, on, on a Monday really? Um, But how much of the CVS run up to his reveal and everybody's pumped, you know, with reveal and two outside catalyst as well.For all the other stuff, he I'll tell you how pumped it is. Go look at the four chart. That's how pumped it is. And, and, and, and, and forward this, I, I agree with you re it is getting a pop because of Caribbean as well, obviously. So 40 eventually seeing 20 bucks, I don't know. It's close 1972 on Friday. Yeah, Ford.Ford's got a still long, 12% stake so that their headquarters, somebody said catchy saying Wednesday, catchy is always right. That's going to correct us anyway. But yes, I knew it wasn't today there, their headquarters is I right out. Um, where my mom, uh, my mom stays. I go by it all the time. Revealing. All right, well, we didn't get the 500 likes, which means no dad joke with.And unfortunately, plus for that one, I guess I'm saying this was the weekend one. Dad's love. That's got some kick to it when they're eating spicy foods. I think I say that. Okay. I'm going to hop over to cover some tickers, so everyone have a good day and we'll talk to you later on. All right. We'll catch you later.Joel, we'll catch you later then Dennis, our catch, uh, the rest of you, uh, coming up next wive trailing with Benzinga Mitch, Ryan Junaid, and I'll stop by for a few. Um, so we're going to have some fun at the open and do what we normally do. Everyone hit that like button, please. And thank you, please remember all the information from our show meant to be used as informational purposes and not for investing or trading advice.Thanks for watching. We'll see you coming up next on alive. Yeah. And, uh, let's, let's make some good trades and make some money today.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Pfizer has a COVID-19 pill; PFEPelton gets destroyed on earnings; PTONAnalyzing the October jobs report2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Jeff Warshaw, CEO, Virtuoso Acquisition Corp (VOSO) 36:00Virtuoso Acquisition is merging with connected car company Wejo.Meet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://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.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:All right. As I said, we got a big show today. We got a lot of earnings to discuss. Don't forget. We have a jobs number at eight 30, Dennis and Joel may or may not have forgotten that fact until I reminded them. So we got jobs number. We got earnings, new guests on the show today. Jeff Warshaw, actually, this is exciting.This might be our very first SPAC game. On pre-market prep. He's a CEO of virtuoso acquisition. They are merging or acquiring. We Joe, we're talking connected cars with Jeff Warshaw at 8 35. Let's bring Joel on here. Joel. Good morning. How we doing? And, uh, when you came home and get those charts up, we will start rolling here.Good morning, everyone in chat. How you doing? Dennis is here as well as lurking in the background. We'll get him on in a second as well. And, um, I guess we'll just start with the church, Joe. What's up. It's a it's no, no tangent. Okay. Okay. We're going to follow the script. Accordingly. As peas are up 10 handles a 73 and a quarter.That was our time closing high. Uh, we spent a little time below that at 67 50. So, uh, here's your potential downside target. If we do go down on the upside 87 50 is the high nothing up there because we've never been there before a crude rebounding from yesterday, shellacking that's up 89 cents. It's 79, 72 gold.Once again, flirting with 1800 up a buck 70 at 17 95, 20 silver. I was just down a penny 2390 Bitcoin hanging. It's still in the 60,000 handle. Wow. Four lows in the same area. Let's keep an eye on 61. K that's up $85 61,445 and theory S down, just a smidge. That's down $13 and 25 cents. These are the futures at 45 0 2 and a quarter.All right. So we've got a busy day. Dennis also is dealing with some sick kids, so he may be in and out, but he is here. I promise. Uh, and when he comes back, we'll we'll, we'll bring him on here. So, Joel, oh man. I don't even know where to start here. We can start, let's start with what I think is the news of the day, which has probably this Pfizer has gotta be, it's gotta be reminder that we got the, uh, news, like it wasn't like a month ago now from Merck.Merck has that COVID pale that they said, if you take it within a couple of days of having symptoms, you can reduce your hospitalization by 50%. That was. 50% of from Merck this morning, Pfizer came out and said, yeah, we have a pill too. In our pill reduces hospitalization by 89%. Um, they did a study and of these 600 trial participants, uh, who received, uh, the pill, um, in combination.Yeah. Who, who basically who received the pill within five days of symptoms? All of those 607 people. Wow. 41 of them. I'm sorry. Six of them went to the hospital. Nobody did. Oh, the 607. So a a big, uh, a big number here, a big, a big drug coming out today here for, uh, Pfizer. They say they intend to submit for approval as soon as possible.Uh, this is a, I'm gonna not put for this. This is a protease inhibitor. It's actually a drug that was used for it, for HIV treatment, or as I've been reading in the last hour or so. Uh, and Pfizer though, Joel blasting often taken off. Um, yeah, uh, it's uh, it's antiviral women's I guess. And the HIV meds. I mean, we talked before about like the Tamba flu of, uh, of COVID and, uh, that's what they came up with.Uh, the news came out good for the market. Good for Pfizer. And this thing has been volatile lately. Really moving off earnings gave it back the last couple of days. I'll give you that pre-market high. I think that would be a nice juicy target on the upside that comes in at 49 for. I believe was to pre-market high and that's a big move for Pfizer, but it's trading a lot of volume it's holding up.So back near all time highs, actually that all time highs 49 60, there's gotta be some papers stacked at 50, right? Because you had a high at 50 0 5 on August 24th. So I don't know what's been happening with these stocks is they'd get in the pops and they've had a whole hard time holding the games.Pfizer up five bucks is just an unbelievable history. Doesn't repeat itself, but it sometimes rhymes and it rhymes big time here. We saw all of these stocks, Regeneron, Madonna, Novavax get murked back at the end of September today, they're getting Pfizer. It is the exact same headline, the exact same thing, different company.And we're seeing the exact same results that we saw after they got. And Regeneron down 50 points on this Pfizer news, we got Madonna down 25 points on this Pfizer news. We had no evacs, which was trading significantly higher on its earnings report. From last night trading now reversing everything. Joel, we were up into the one nineties we're reversing massively.We are over 25 points off the after hours high. Now down 14 from the close. Um, this is an amazing, this is good. Obviously these pills get for us. Good for people. Get for the world and not so good if you have other therapies for COVID or if you're making vaccines. So we're seeing the vaccine makers getting hammered, even poor B NTX, which was teamed up with Pfizer on the last one.That's makes complete sense. Cause they're not teamed up on this one. So obviously, you know, they got the vaccine, but Pfizer is doing its own thing on the drug. So be in TX getting smacked hard here, uh, down 8% on this news as well, Pfizer up 11%. The the, the, the play was to sell into this strength and Merck.And it worked, I would say the same thing. I own Pfizer in the long-term account. I would say this is a windfall. And if you're long, it overnight, it's a gift. And I think you're going to struggle to get over 50. So I don't think we're going 50 to 55, 60 and blasting off because we have complete precedence here.I actually completely talking against my buck. I think I'm the only person that does it on the street. Joel does it too with Peloton, which we'll get to in a second. But, uh, Pfizer here up five is a big move for this. When we saw Merck getting that lift, it was short-lived. It eventually did come back and move, make new new hires, but you can see even Merck getting hit because they have the competing drug.So moral of the story is with the drug stocks. It gotta sell your peanuts while the circus is in town, because these things do not stay hot. They don't seem to stay hot at all. Regeneron I'll give myself the pat on the back because I sold my Regeneron and I obviously, you know, talked about it, you know?Two two days ago on the show saying, I think this has come too far too fast, and I'm going to get a chance to get it back cheaper. Well, lo and behold, you're getting that chance today. Well, I reload Regeneron. I may, I may actually reload it. If we get down to the five 80 area, that's probably be a better buy than obviously, um, you know, my six 30 or six 40 original purchase.So sometimes, you know, when you make a bad purchase market gives you your money back. Sometimes you got to sell it and then reload at a lower price. So I'll pat myself on the back on Regeneron and I'll kick myself in the ass for Pam. Okay. The question though, do you do that at the same time? How does that work?I don't know how that works. It's hard to do that in the past, but that's pretty good. The kick in the ass, like kicking myself in the bot. It's not as easy, especially when I'm sitting on chair. I'm just trying to figure out how that would work. I'm not quite able. And it was a success story of this market.It's big winners and big losers every single day. It's the market with no memory for one thing. I mean, they loved merch yesterday. Oh, Merck. We love Merrick making them now. We hate it. Pfizer competitor. I didn't see that one coming holy this market with no memory and merch down 9% on this as a buying opportunity.I'm long Merck and okay. Yesterday was a selling opportunity. Today is a buying opportunity. Just like that. Boom, eight points off merch, low eighties. Yes. It's got the competing drug, you know, maybe they continue to smack these things around because this is the market where the weak get weaker and the strongest drug, or at least for a few days.But I think you've got a buying opportunity in Merck and Regeneron. Um, I probably will reload my Regeneron at some point in time, I'm going to try to catch the falling knife, which is exactly what you're doing when the stocks are in free fall here in the pre-market. Um, I've been hurt a lot of times like that.Sometimes I still do it cause I can't help myself, but the, the play is probably let the dust settle and then wait till it stops going down. Yeah. I mean, if you feel like the five 80, I see, you know, there's a love, that's where it really, I mean, it, it had momentum going and then it got over that five 80 and blasted and filled the gaps.So it, uh, gave it back. We'll see, five 80 the seat, let the dust settle on this one. Uh, you know, who knows if they pull out something that's 95%, you know, efficient. So overall good. There's another one coming next week. Joel, probably when you get that, we'll all here on fi I mean, Joel, let's just talk Pfizer for a second here.How many times despise or go up 11% on a drug. Pfizer has new drugs. This is this, isn't a small little company. This is one of the biggest cars in the world. Biser gets a positive trial on a drug. If it's not, obviously in some cases, you know, not Pfizer, but you know, Alzheimer's or something, but on normal drugs, they pop like 1%, 2%, 11% come on.This is circus is like the elephants are, you know, sticking the balls in the air here, you know, like back there, there, there, there, what do you call them? Their legs on the back of the other ones. And they're their toilet and a bar around. I almost want to sell my long-term Pfizer just to rebuy it. But the problem is I don't want to pay the tax.I'm going from $13. And I don't want to realize a huge capital gain by, you know, maybe the idea would be to buy some putts or. I don't, I don't know, Dennis looking at it talking, can I interest you in another, in several other companies that are also that also have protease inhibitor technology? Sure.Drugs. Cause that's, that's the underlying technology here for the drug, right? Uh, AbbVie has a protease inhibitor, um, GlaxoSmithKline, GSK. And they actually, if you look at this morning, I know they're on down now, but they weren't down a half hour ago and GSK are down at all. And that's for the simple reason is that they don't have COVID trucks.Well, not, not yet is what I'm saying. So that's good. They could get fi so Pfizer has the potentials. What you're saying to get Glaxo's like in a few weeks, blacks has got Pfizer and Pfizer is going to be a trend here and the moves are going to be less. They won't keep slamming on. I think the move is over, down on.So I'm going to say this. I think the moves are over done on all of these stocks today. All right. I think the Pfizer shouldn't be up to as much. I think the merchant me down as much. I think the Regeneron shouldn't be down this much. We already hit all this stuff on and I ain't getting the second shot, so, okay.Wait, also, uh, uh, GSK mentioned Bristol Meyer was throwing Bristol Meyer, GSK AbbVie. Those are the three companies and inhibitor drugs working on pills. COVID pills don't know. I didn't know. Pfizer was working on a COVID pill. I don't think. They hide this stuff? Um, no, I don't know if those companies have trials or no, I don't know.I'm just saying they have the same technology that the Pfizer drug, they have drugs that are approved that do kind of the same thing as what the, you know, uh, the underlying thing as well as what the Pfizer drug does. So, uh, very interesting. It's the market of wicked moves. This is the market of wicked individual moves the spy.They're like, oh, it just grinds higher, kind of boring. It's under you lift up, you know, and look under the hood. There is wicked moves all over the place. Every single day today in the drug sector, wicked moves all over the place. You can look, there's a company that's going to report. It's going to be up 20%.That'd be another company while I can't buy them all. Cause buyer doesn't want to go anywhere. So they've got to sell something else off 20%. Yesterday's victim was UPenn today's victim. Victim's going to be palliative. So, I mean, this market is just the market of wicked moves right now. Wicked, wicked.Yeah. We can go to that panel time here. And, uh, this was a tough one. So remember that they had previously lower their guidance and lowered their pricing back in August as a tell and well, in hindsight 2020, yes, it was a towel. So here's what the numbers were from Peloton yesterday, the Q1 earnings per share, they lost a dollar 25 cents per share street with looking for a loss of a buck oh seven.So they missed more than expected sales, 805 versus $810 million small base. But that's not what we care about. We care more about the forward looking stuff. The guidance, the Q2 sales guidance came in below estimates. The fiscal year of sales guidance came in below estimates, uh, in terms of subscriber growth.This was the first time, the first quarter that their subscriber growth did not grow at least 10%. Um, I think maybe ever, uh, there are a subscriber growth had previously increased, uh, 20, at least 20%, every single quarter for the last, like, I don't know, like eight quarters and their subscriber growth only increased 10% in the most recent quarter.Um, they did say that they are well positioned for the holiday season. They have a lot of inventory, maybe that's because they're not selling anything. Um, but yes, it was a, it was a really tough report for, for Peloton. And this is, this is going to be, that's going to be a doozy. I mean, you got to start asking your question now to Peloton and I can ask it to Joel and we could ask you who could then ask it to Lisa.I mean, is this not the possibility to give back the entire COVID run and okay. Go ahead. Change my rating on the stock. Okay. It's two S M T C shaking. My now send me the certificate. Send me the certificates. You think that's going to zero out on CNBC there's Grasso that said that last night on CNBC. I don't think that is the case.Yeah. I still own it. I've tried so many times to do this and it's his wife stock. So she could take the credit for some of the good ones and she could take some of the credit for the bad ones. I, I we've, we've talked about it a half dozen times and it's not a, it's not a big position. It's a, it's a much smaller position today.It's a much smaller today. I think I'm still up on it. I don't want to look, but, uh, yeah. What can I say? I mean, it's, it's, it's done. I mean, the pen, it, the pandemic dude, you know, this news is not helping in anymore. Uh, Um, Primo others gave you the pre-market law. Pre-market low is 56, 80 with three bucks off that I'll hope it holds.And uh, if it ever gets back to fill the gap here at 86 bucks, 85, 75, maybe I've got another go around. You still have it. He hears me. Here's my ticket. We are not to say that Peloton is never going to come back. It very well could come back. But if it dies, it is going to take a long time. We're talking about a bag holders everywhere.We're talking about a several years story here, right? It's harder to go up, but it needs to go down like this, right? Oh, I mean infinitely. If they can come back, they do very, very, very often, but it, it's not gonna be by next summer. It's not gonna be by next fall. It's gonna, it's going take a while. So just know that if you're holding the bag here and not in any of these stay-at-home home place, right in zoom and in our last discussion, I really, I tried to go into like the valuations in P E in growth and expectations.And, uh, it didn't matter. I want to know what Joel is feeling right now. Is he feeling vindication? Cause he's actually, this is a funny, this is a horrible situation. Y'all has been talking against the stock forever cases and trying to pitch the backstory here is Joel and his wife bought a Peloton back at the perfect time back in like April or may of 2020.And the stocks went up, up, up, up, up, and he has been trying, but it's Lisa stock on this one, I guess, which is his wife. And so she's got the final. And he's been trying to get her to sell, trying to get her, to sell, trying to get her, to sell it. And you know, obviously not listening, um, which, you know, it's, it's her choice.She's makes a lot of good short term. At least it's been a great trader for a long time. She made a lot of money because we should know we don't sell. Yeah. I mean, so you're going to get caught holding the bag. And then the thing about this one is that, uh, you know, we've got some big winners, you know, from the long-term, you know, for holding it forever.But this was one where, you know, you know, we had a crazy stock that, yeah, it got stupid and, oh, stop. She, you got her to suck game stop at the high, which is unbelievable. But the circus was in town, in Peloton, was in town last January. And all of these stay at home place. Stay at home. Trade is just absolutely massacred across the board.And if I was long zoom right now, I would be looking at this Peloton chart and saying, Hmm, You know, and I know Cathy loads it up every day, but if I was Kathy, I'd be like, Hmm, because you know what? There is just an epic pile of competition coming for zoom, consumers. Maybe zoom can be the Google. Maybe they can reinvent themselves and, you know, get away and, you know, do a whole bunch of different things.But right now they're a streaming platform, which, you know, we've moved away from them because it's superior ones out there. Yes, it's a verb. That's why I used the Google analogy. Cause it Google it. Let's zoom. Let's Google it, which is amazing. Company has done amazing things. It's nosebleed valuations, and it's a stay at home play.And zoom is down $5 here on only on this Peloton, which I'm absolutely shocked at. I cannot believe you're not hammering zoom more on this because if I was long zoom, I would be hammering the bed. So, but down 31%, is it over done on Peloton? I don't know if I can even say that because you're at this point where you still look at still got a $20 billion value.So, you know, it's, uh, you know, it's obviously a great company where they've done a lot of great things, but you know, when you comparing valuations across the board and we did this exercise, you know, and, and it's not, let's, let's be honest. It's not planet fitness. You know, planet fitness is killing it. Now that pair of the opposite way would have been really good.But planet fitness market cap is $7 billion. Would you rather own planet fitness or Peloton? Because right now you're paying almost three times as much for Peloton that you are as then you are as planet fitness. So I don't know, like, I don't know if everybody's staying at home and riding their pelotons anymore.So I, I can't even justify the valuation here at the top. So I'd like to say, oh, it's cheap, but it's not cheap. And if the earnings actually start going down, then there's major problems here. So you've got a 7 billion, one of the biggest gyms across the U S if not the biggest of the $7 billion market cap.And they get the statement home bike, man. With a $20 billion Merck still, or 19, it's still expensive. So you know what you're going to have now, you know what you're going to have now too. And I will be able to convince you to sound on this now that all these, uh, all these analysts are gonna come out. Uh, what do we have?We had, um, yeah, yeah, theyperform right. Oh, they did that today, but they lowered their price target. Okay. Well, thank you. Thank you for lowering your price target. Yeah. Yeah. All these analysts. Okay. Thank you so much. X St. Truest, Stiefel and Telsey downgrading the stock today after it's down 30%. Thanks so much for that. The price gone from one 30 to 68, 1 20 to 71.Then we better lower our price targets because they don't look very good there. So, you know what, just do this here. And then we won't look at that. You know, what the perfect selling opportunity was. And I can, I can almost remember the date on the chart. Oh, right here, Dennis, you called the rally and this one, uh, I could nail the date was, uh, uh, September 9th.Someone came out. I know I can go into pro here and find it on, uh, I'd say, uh, it was the third now. It wasn't. Um, I remember there was someone came out from Peloton. They came out and they, and you said, oh, I think, oh, when they decided to sell clothes, What did, what was that? It was oversold at that point.It had a wickedYup. And Dennis said, I think this has got some legs and I'm thinking they're sell the clothes now. Like, what the hell are they doing? They're diversifying in the Colombian. Who wants that? And I was like, no, I know. Well, it's after the fact Jack, I own it. Send me the certificates SM you're right though.What's more important to make money or to be Rachel. Wait, do you want to see all the down or theleaves or the analysts this morning, easily analyst this morning and in Peloton here, here. So you see very much, you see 11 five right there at the top, right? All the top eight here, all from this morning. So tough job. What a tough job, you know, going in to report. Oh my Lord. And there's probably some more to do it too, right.Anyways. Okay. Can we, can we can, yeah, we talk Penn just in here because we got to jobs number in five minutes and obviously we have some time before that. Next thing I'm following the schedule here. Um, the agenda. Okay. So as much as you got Peloton today, Joel, I got pinned yesterday and I didn't get penned.I got port annoyed. So I just talked about my pen position. I just bought it back like a couple of weeks ago. Cause I wanted to own the stock back and what a mistake and you know, maybe I should have waited till after the earnings report and you can say, oh, the earnings were disappointing and they were, it would not have got hammered like this.This was the business insider piece on Portnoy. And if you're not following the story that they accused him of what, what were they accusing like obviously SA yes, it was, um, it was going too far in, in sexual encounters. It w it was the gist of it basically. Uh, and, and I, and I, I did read the piece, I read most of it and you know, I'm not going to comment on Portnoy on who's right.Who's wrong. He said, see, she said, I watched Portnoy's rebuttal to it as well. Um, I'll just say, I, you know, when I bought Penn gaming, the reason I chose Penn gaming, overdraft Kings was poor or not, and I'm a fan of Portnoy. I I've been a fan of Portnoy, you know, that publicly on the show for a long time.Um, I was betting on Dave Portnoy and I lost that bet yesterday. So there's a reason it's down that much. And it's because his image really got hurt, you know, whether he did it or not. I don't know. You know, I can't, we can't comment on that. And you know, I, I, I tend to think that maybe this is just exaggerated.Maybe he didn't, but I don't know. I don't know, Dave port and on a personal level. So I don't know. There was a lot of accusations in there. You know, obviously, you know, that the girls saying stop, and I guess he didn't stop or whatever. So there's some accusations there. They hit, when this news kind of hits, they, they, they hit the bid first and they ask questions later.I hope it comes out. And I, you know, I, and I, I liked Dave Portnoy, like as you know, just, you know, like watching my Barstool sports. I think he's funny. I think he's humorous. I think he's built a great business. I hope it's not. But I don't know. And I can't comment on that, but I'll say that this wasn't bad earnings.This was, this was because of Portnoy that it was down so much. So it, it just, it, this is the last thing. I mean, the timing of all this stuff and everything, um, you know, it's. Nope. They've been working on this for a long time and they comes out eight months or working on it and they come out in a day.They'd miss on earnings. I mean, they had this story and they actually released it because the stock was down. Like now we can really hammer it. I don't know if that's the case, but it's interesting timing. It was the day the pen was already down on earnings and then they come out with it. You know what, the piece on the important, and then it really got hammered.is interesting. One of the three of us here is been tapping. I did, I did have pen for just a small trade on a technical thing and I got in and I got out, but someone, one of the three of us has been a little cautious on these, on these gambling stocks,Peloton, cautious, cautious on DraftKings Cisco call, and I'm getting head hard on it today. Figure it out. If I want to sell into this bounce and just eat the loss because I bet on Dave. So here's when you're entering it in for an investment, and this was put in the long-term account, you have your thesis and if your thesis plays out, you're right, you'll make money.If a thesis doesn't play out, your you'll not make money. In this case, I said to myself, I'm betting on de Portnoy. I couldn't have lost that, that worse with this business insider piece yesterday. So I don't know like where it goes from here. So this is like new territory for me, but yeah, it does. Does Portnoy rebound from this, does Barstool sports rebound from this?Or does it lose subscribers? Is there, there's going to be a certain portion of the population is like, I don't like that guy now at all. And he's right. He was saying people don't like Dave Portnoy already. I mean, cause he's very outspoken. I like it because I like sports. I like the way he talks about stuff.You know that he's very blunt. He says what he thinks. Um, you know, I, I, you know, he makes me laugh on the pizza stuff and that, you know, we, there's no secret that we've been Portnoy fans just did, but on this part of it, I didn't know anything about this stuff. So this is all new information. His image is tarnished.There's no doubt about it. Can he rebuild that image or is there, you know, does this story build from here? I don't know the answers to the questions and that's why I don't know if I should sell the stock or not. So I can eat the loss. I'd be down 14 points, I think on that concentrate and up a little bit here, this point, which is just APIC loss for it, but I don't know what to do here, what I want to see.I don't know what to do yesterday afternoon, as well as this is the risk that you take. When you buy into a company because they have, because of the figurehead at the top, whether it's Elon Musk and Tesla, true Dave Portnoy at Barstool, and then pen, whether it's Papa, John, a Papa John's or Steve Wynn at wind resorts, right?When, when the company has a CEO in this case, it's not a CEO, but someone at the top who was more than that, right? He is more than just his job title. He's the figurehead, or she could, it could be your tree, uh, more than, than, than, than their job title. This is the risk that you take, that's it? Yup. It's true.And I sat on the show. I'm betting on Dave Portnoy.Dennis. Oh my gosh. He's got, he's got 50 seconds. He's got time. He's got going on. He's got 50 seconds. He's got time. We got the one minute up. We never go to the one minute chart, but you have to go to the one minute chart. We got October John's report eminent. Uh, pre-market high 87, 50 nothing in there.Folks. I can't give you a resistance when there's absolutely no resistance in the market at all. So maybe a psychological level, like 4,700. Maybe that's 14, 15 handles away on the downside. Mid range is right at like 77 and a half. So if they don't like the number, they try and press it. We'll see what happens at 77 and a half.But, uh, that's the way it's looking here going into the jobs report. It's eminent. Spencer, you got any premiums, right? I do have some numbers. We're looking for 425,000 jobs added last month for your non-farm payrolls. We're looking for unemployment of 4.7%. That would be aides declined from the 4.8% from, uh, from September.Let's go here, three, two, and one, it is eight 30. Where's our number 531. Thousand jobs added last month versus at 425,000 estimates. So I big beat when's the last time we were able to say that way more jobs added last month and what the economy orderly here. Very, very orderly, very orderly markets. Uh, no presents.I mean, whoever hit it this down to 83 50, the headache quick, we just made a new hire in 88. Uh, basically this is another burger folks. Let's mark. It. Was it 85 right before this started, right. Let me look at, uh, where we were at eight 30. We ended the eight 30 bar at 85 and we are currently trading 85 75.So the market is digesting this information. There was no, there's been no knee jerk reaction to the downside as of yet, but we're still early, uh, 85. I mean, I don't even know if stocks I'll be, Dennis could be back pretty soon. I don't even know if stocks are moving off this number. Um, any revisions Spencer?Oh, that's a good question. I didn't quite get there yet. I'm still working through. Putting this number into context here. So the unemployment, uh, I don't know if I said that yet. The unemployment was 4.6%. That was below the 4.7% estimate and below the 4.8% number from the prior month. So unemployment continuing to go down.You'd like to see that more Dom is being added. Yo love to see that let's keep going on to this number of see what else we can find. Um, it looks like, looks like most numbers. Yeah, very nice revision. There we go. So the, the, uh, prior the non-farm hero's figure for the month of September was revised higher.Okay. Remember we had that big miss. It was 194,000 jobs that was revised higher to 312. So look, this is a very hard job to, to get these basic, just gigantic surveys, right. And. Sometimes they're way off the first time around. So, so the September number, not as bad, actually, you know what, frankly, every month for the last, it seems like every month it gets revised higher, um, down the line, but big revision from September big beat for October.You'll love to see that. And, uh, Hey, what a surprise where I first back in still at all time highs. So I'm very nice on farm jobs. Yeah. We just made a new high 88 and a quarter 88 and a half. So there was a burger though. Yeah. Yup. All right. Happy average, hourly earnings in line with the, yes, with their increased 0.4% month over month and about 5% or 4.9% year over year labor force participation rate 61.7% essentially in line in line there.Um, huh. All right. Been very exciting. But Joel's right. This wasn't nothing burger here. I mean, we moved up four points on it. So I think we care about the inflation numbers more than the jobs numbers. I think so. So when he gets the CPI number, it used to always just be jobs, jobs, jobs, that's all they cared about.Now it's inflation. The market does cares about the inflation numbers and the fine, you know, okay, well this gets a little indicators here, but they're not really moving much off at, at all. So jobs now I've officially put the inflation number as more important than the jobs. We, we, we see this in times, like last, last spring, it, the, the jobs number was not as important as the weekly, um, job was claimed.That was more important for a time. And then it went back to being not as important anymore. And then, but yes, I, I I'm down with that, Dennis CPI more important right now than the jobs number. So this is all that unexpected did. Some of the unemployment benefits run out. I can submit. Yeah. Yeah. Yeah. So, you know, people, uh, going back to, I mean, you still see, I mean, you drive around, I mean, some of the restaurants in this area are closing early.I mean, they're still looking for workers, so they are, um, they're out there. So a good number, a good number for the market here off to a great start here on this Friday, trading up to 46 91. So, uh, yeah, barely budged. I mean, sometimes you get a little, you know, a little, you know, a knee jerk reaction. They knock it down a little bit, but like the bed, it was bit everywhere.So I'm not sure what this means for inflation moving forward, but, um, Yeah, the wages remains the same. I'm not sure if you saw the stat that I had up on the screen, but the S and P 500 has made 60 for all time highs this year at the all time record, by the way, is 77 set 95. Um, we we're we're, we're on pace to, to come pretty darn close.If not break that record at this rate, the way we're going. Um, it's been a pretty, pretty amazing year, uh, in that regard. Um, and Ryan Dietrich said, said as much when, when he was on our show. Uh, okay. Uh, our next guests will be here momentarily. In the meantime, let's do more stocks draft. Yeah. A lot to get through here.Um, what you want to do. DraftKings because we talk pen and that makes sense. So the draftings during the report was out this morning. Uh, they did. Yeah. I mean, the stock is getting punished here at the, uh, uh, they guided let's see the sales came in. Uh, okay. I guess the guided light, the, yeah, they got it. It was in line in wine with the guidance.Nothing too crazy on the numbers. I think we're just out of favor here. Yeah, I think so, too. It's just to turn, um, with that being said, you have a huge level 40 bucks, so nice support at $40 for draft Kings. Um, I don't own draft Kings and obviously we shouldn't own penny either at this point in time. Um, you know, Kathy is likely going to be buying the dip tonight.I'll just say that. Yeah. That's how she rolls most of the time, unless she's in Zillow. I was going to say, I know the Zillow was the exception in the rural, but I, I tend to think that Kathy will probably load up this different. So think about that as well. I wouldn't be surprised at the depicote spot here.I'll just say that. Um, I'm just going to say, yeah, the 40 is sticking out on a monthly there. You can see that by DOB. And this is the same thing with pen I wrote up pen yesterday is it's the stock of the day. There's three monthly lows at 35 bucks. So I don't know if you're going there that, that Accords coincides with Penn.I believe at the exact same time. Penn may dot three monthly lows at 52. So if you're waiting now, hold off on a monthly basis, though. Your levels for a draft Kings and pan SOP is charging towards 4,700. We'll probably be there momentarily market. You just cannot stop this market. That's pretty wild.Actually. I'm looking at that too. Joel, that's pretty wild. Uh, all right. Hey, well, let's bring in our guests here. Jeff Warshaw is the CEO of virtuoso acquisition corporation. That is of course he's back. They are buying a company called we Joe. We would talk about that and more. Let's get Jeff on the show.Jeff Goodman. How you doing? We are doing fantastic on this Friday. How you doing? I'm doing great. Happy to be here. Alright, thank you Jeff. A long time by long time friend of mine, I, Jeff. Uh, first of all, just, just tell us about this company I spoke to you yesterday. You're extremely excited about it, but, uh, tell us your target and that the vote date is November, correct?That's right. So out of every company that we looked at, we did not see anything that resembled the opportunity for us and our shareholders to make multiples on our investment. As we Jo, we just couldn't be more excited. I think it's a great team and amazing, uh, huge, uh, town. Uh, they have, uh, we think we've won the dataset for the connected car.It's, it's, there's so many opportunities for this company to monetize, be it, you know, obviously traffic and mapping, but insurance and. Advertising and, uh, vehicle diagnostics. There's just a massive market. They've signed up 18 OEMs, uh, and, uh, you know, it's just been. Been terrific. We met, we met these guys and it was love at first sight.Richard is a, you know, real visionary founder and CEO and, uh, you know, it's been every, every step along the way, they've exceeded our expectations. So we're really excited. So talk about the datasets and the information that, uh, is going to be coming from these sensors on vehicles. It's not just not just mapping and things like that.Um, sure. So every the connected car has. Uh, this, uh, this essentially a built in modem that can, that streams constantly, uh, data at this point from around 150 sensors has everything from speed and how many people were in the car to what's on the radio to the moisture on the tires to, uh, diagnostic equipment on like how the fuel pump and the battery and all those, uh, many of the pieces of the engine are performing.And that data is extremely valuable. Of course, you know, uh, in this case, we, Joe, uh, has in machine, learned every lane of every highway in America, uh, already. Uh, but it also, you know, for example, uh, you know, I'm, I've been in the media business for many years. Nielsen does the ratings for audio. And I looked at this and said, Nielsen has an S in a, in a city like New York has 5,000, uh, people participating in the ratings.You get ratings once a week. And you, um, uh, and, and, you know, very little just age and sex of the, of the driver in this case, we have, I think we, Joe has 8% of the drivers in all of New York. Many many times the sample size, you're getting data in real time. So for example, we'll know when somebody tunes out a song or tunes out of commercial or listens to a commercial and then go visit that store.Um, you know, when they visited and how many people were in the car and the same thing with billboards, and that's only a very small percentage of the opportunity to monetize, uh, insurance companies. It's not just UBI it's when it, when a collision takes place within 12 centimeters, we know where the dents are.So they drill down on insurance fraud, very, very valuable cuts down on how many towing towing trips have to be paid for in storage. Um, you know, for, for mapping in real time, we can see when, when, when, uh, there's value by knowing how fast the cars going, knowing the, the, uh, the moisture on the top. And the temperature outside, they can machine learn black wear black ices, which is tremendously valuable to, um, to the municipality.So there's just so many ways this company has to monetize it'll cost to the cars. I mean, is this something that, uh, you know, is going to have to be passed onto the consumer and Nope, no costs, um, virtually all the cars that are being made now have this built-in, it's literally pennies per month and the OEM pays for, because this, that data is very valuable.When we think about things like EVs, right? The, the battery's really important. Well, this company now has the opportunity to determine, to see what's going on with, with the battery usage in a way that just isn't hasn't been available. That also very helpful where they should be putting charging stations.So this is not cost the consumer there's. They have extremely buttoned up privacy opt in. They set their setting, the standard for privacy. Um, and, uh, you know, w we, Joe means we journey on there and there, uh, kind of, uh, low motto is data for good. So, uh, the, the, this will, this data will not be used for like law enforcement.It will be used only for things that are helpful to the driver. And, um, they have the, you know, there's a 300 page manual that, uh, agreement that has to be signed with the OEM regarding privacy, um, in order for to participate. And what about competing with Tesla? Tesla have this market corner we'll test that?Yes. If you look at Tesla's market cap, probably a hundred billion dollars of their market cap is attributable to their on data play. They Tesla's a very, we have more EVs connected then than Tesla does. So, um, in, in America. So, uh, yes, we think that Tesla has a big opportunity. Quite frankly, dwarfed by the opportunity when you put in all these other OEMs, I mean, essentially the, the, these, these cars are going to need to talk to each other and BMW and Mercedes are not going to share information.So they need a neutral third party in the middle, particularly when autonomous cars. So these cards can talk to each other, tell each other where there's parking spots available. Um, there needs to be a neutral third party, and we, Joe is that neutral third party sitting in the middle of that equals. Jeff.I remember a few years ago I was made about like the battle for the dashboard. Cause it was like the last screen that people were guaranteed to be glued to. Uh, does we don't do anything with the dashboard at all? I'm just curious, because I remember reading like it's like Spotify versus apple versus Pandora and in the battle for your dashboard, we're not a part of that battle.We know what's being played from the dash and we take that information. We do not, we're not battling, you do not need to choose between, uh, you know, Spotify or any of these w the OEM gets this data directly from the, from the car and streams it to our cloud. And we, um, provide, you know, we anonymize it and modularize it and ultimately monetize it in a way.And we share the revenue. With the OEM. So they're highly incentivized for us to partner with them because we are able to do the work. And of course the network effect is that the data becomes much more valuable when it doesn't just come from one OEM. And then just with regards to like the, the spec process, you, you are, you you're the CEO of the spec.You're, you're looking for a target, right. When you're in that process, surely we, Joe is not the only revolutionary company that you saw. I'm sure you, I'm sure you saw a lot of cool stuff. Right. So like what, what were you looking for? Yeah, obviously you're looking for the returns for investors. Right. But like, but in terms of the company, what, what were you looking for?So, uh, w when we, when we did our SPAC, um, you know, we said we wanted a company that we thought had a great management team that had a large addressable market, um, that had, uh, you know, proprietary. Yeah, that was proprietary. That, that, that wasn't, you know, just another company that said we could do things bigger, faster, stronger.So when we, we looked at lots of companies and one of my partners and board members is a guy named Sam Handel. Sam is a long, long, long time investor, but on him and is about 12 years ago, I think him and his two of his buddies from Yale, uh, created a company called data miner. Would you say that's a good, that's it?I know them right there. He's a co-founder of data miner and they essentially. Did this with social media, we raised money this year at a $4 billion, $4.1 billion cap. And one of his early investors in data miner was a guy in, in Germany, uh, that has obviously done quite well. And he called us up and said, we have a company that you need to look at.And that's how we found, uh, we, Joe. So, um, we, and we, you know, after we met them, we kind of zoomed to the top of the list and, uh, you know, w you know, Richard and I spoke the same language and we were able to make a deal with him. And let me also comment when we talk a few things, I'd like to make sure that we differentiate ourselves from some of the other specs that are out there first off, uh, when, when we, we did extensive diligence, PE style diligence on, on we Joe.And then when we made our deal and we put our pipe together, Palentier came in and they did extensive diligence. So now you have the most sophisticated data company on the planet doing some substantial diligence. They invested in the pipe microwave. They had never made an investment in spec before they came in, did massive deal with this.And they invested in the pipe. Um, the Tsangpo massive Japanese insurance company, they invested in the pipe, GM invested in the pipe. So these are companies that did extreme amount of diligence alongside the Dogist. We did really validating not only that this company was able to execute in real time, those know amazing amount of data processing that needs to be done, but that they had these deals with the OEMs and that they had a real sustainable business.So I can think of a, of a spec that has this kind of growth and is that level of validation from such smart investors. Also, we need our dealer. And negotiated our purchase or merger price, post bubble of this back. So when you have other companies that came in and now, you know, the valuation on that we were able to get for our shareholders reflects the, um, the kind of adjustment in the market.So again, so we think it's a very compelling valuation. If you look at our comp set, it's tremendously undervalued. These are companies that traded 30 plus times revenue. Uh, we, we, we expect, uh, we drove their projections are to, to be, you know, three quarters of a billion dollars in 2025. So you can do the math.We think it's really undervalued. They're executing really well. Um, they have a unique data set that's, um, long-term deals with their OEMs great management team. What could you possibly, so, Jeff, what is the timeline here? The deal is on the 16th is the meeting and we expect to close soon after. And, you know, we think it's a fantastic opportunity.We couldn't be more excited. All right. Uh, yeah, I mean that excitement's coming through. I can tell you that, uh, I didn't know much, frankly, anything about weed Joe before yesterday. Uh, and, and now you're getting me excited and for company that I just learned about, so, uh, Jeff Warshaw, Hey, Jeff, we appreciate you coming on the show today.Really he's a CEO of virtuoso acquisition corporation, uh, ticker V O S O acquiring. We Joe connected cars. Uh, you know, actually one question from the chat, I almost forgot about this. It was asked early on where, when he came on, what is your, or even we Joe's position on the metaverse and their P potential fit within that.Cause it's kind of the same idea, right? Massive amounts of. Well, I mean, this is a very specific connected car play. Um, and do you know we're taking the data? Um, you know, I think if you want to go out to the next generation, that kind of fun stuff is autonomous vehicles, you know, w we'll reach a point.Like I, you know, when next time Joe, you know, 10 years from now, Joel is going to pull up to his restaurant in Detroit. He's going to get out of the car. The car is going to drive a wedding. It's going to go pick up a quart of milk for him and pay for it. It's going to talk to the other cars. It's going to find a great parking space.And when Joel. He can hit a button and the car and come pick them up and take them home. And that's that, that cannot happen unless you have a neutral third party sitting between the OEMs and that's where Joe that's Jeff, that will not happen because Joel doesn't leave his house, unfortunately, but Jeff, Jeff Warshaw, CEO of virtual.So acquisition, uh, Jeff, thank you so much for coming on very much. Yeah. The excitement is coming through. It's coming through the camera. I feel like I'm with you this screen. I dig it. I dig it. So thanks a lot to Jeff for coming out today. Okay. We got 10 minutes. We got a lot to talk about stuff. So you want to talk about Pinterest or Uber or square or Airbnb?But to someone there's so many earnings, I can't wait. I'm actually exhausted from this last two and a half weeks of earnings. There's so many and the moves are so wicked and it's like, okay, well, I'm making big on this one, but I'm losing big on this one. Like somebody was sending me a congratulations, text your Qualcomm.I was like, oh yeah, that's fine and dandy. But what about pen? I lost everything I made in Qualcomm a lot more in pen. So I mean this earning season, I got Lockheed Martin on the one, but then, you know, I own another one. It's like, I got a stock going up 20% down, 20% every day in this long-term portfolio. I guess that's what happens when you own all these stocks, but it's been a look.Wow. You try not to look, but then you do lock in. You're like, eh, and then, you know, I'm looking at the ones that are losing and maybe not the ones that are winning. I don't know. The bottom line doesn't seem to go that like, change that much when you're on that many stocks, I guess you're just that S and P but I mean, individual stock performance, obviously Penn gaming and I'm like yesterday, just shaking my.Uh, let's just do Airbnb here. Uh, they just had their best quarter on a record. Uh, their EPS be a buck 22 versus 75 cent estimate their sales to call it two and a quarter billion versus $2.04 billion. They gave revenue guidance, uh, for this current quarter that was, uh, in wine, uh, best quarter ever for the company.Uh, not surprised on this one. Uh, 1 93 40, you had your six bucks off that a little musicians in one night, but see if he could take out that pre-market I just, the fact that you're you're six bucks off, it makes you think there might be some sellers out there. A lot of people sitting on profits from the last two days, cause you were in the lower, uh, one 70 handled, just a quick update on Pfizer.Uh, I mean, it's getting over 49, but people are going to whack whack whack in those bids from long-term. And they're saying 10% on this overnight. Thank you very much. I take the money. I don't know, part of me wants to take the money and run tape. Hey Dennis, I got Joel's thoughts or let's get your thoughts though, on any video from yesterday.Oh, it's just this wicked movie. It's exactly poster child at this market. Right now. You have mentioned the metaverse saw the metaverse and that was an analyst. I mentioned it wasn't wild wasn't it was Wells Wells. And they put up the mess. I mean, obviously apparently tried to go straight there. Oh yeah.We think these are 52 week price targets. I don't know. But people, investors get confused. They think that's a price target today and they try to take it there. I mean, metaverse is just the new buzz word. Like Mitch was saying, you know, you had blockchain, you had, you know, COVID, you know, and then now you've got the.Everything is, you know, it was crypto for a while now. It's the metaverse you mentioned the metaverse, you know, the algos are all over it they're they they're programmed and something says metaverse and they're buying it. So, I mean, it was an absolutely ridiculous move that the stock is just moved ridiculously.I mean, I'm not going to short a rocket ship. I'll tell you that much. I actually was long it overnight because I figured it would just gap up again and it did. Um, I've already sold it. Um, it's unbelievable. The moves that you're seeing on individual stocks and, you know, really off, really nothing fundamental just to mention from an , but that's nothing to do with the company.It's an opinion from an analyst and, you know, are they going to be a big thing in the metaverse. It's this just suddenly been, you know, in the light and local Wells Fargo was just enlightened the whole entire world to this. This is a metaphor. I mean, no, but the market it's trading it like that. Oh, we didn't think of Nvidia as a metaverse play.What are you talking about? You know, obviously it's a metaverse play, so I don't know why yesterday. They decided to buy it up 12% on and continuing to move up here, AMD benefiting from this. And obviously they're looking at Intel and Intel is just the last, you know, we don't care about that one anymore.That's a value stock. We don't like PE stocks of eight. We like PE stocks of 80. So we're in 1999 all over again here on a lot of stocks. How does it all end? I have no idea. I'm not chasing Nvidia up here, but I tell you if you're in it, I don't know any reason to sell it right now. It's making new all time highs.Hey, we got five minutes left. Let's get two more likes if we can. And we'll do some more tickets in the next couple of minutes. Let's give a little bit of love to Uber. Uber said on their call last night that they, that they just had the best month in the history of their company. Uber's numbers are pretty good, uh, profitable for the first time.Uh, revenue EPS, beat the estimate revenue, beat the estimate and, uh, Hey yeah. Reopening trade, right guys. Yeah. Well, what about the metaverse though? This has nothing to do with the metaverse so it's not that exciting. The new thing is metaverse so I'm not excited about Uber, um, the report, whatever it's in stocks in the middle of nowhere, I'll just say whatever on Uber, it really moves around.I mean, this, yeah. Chaps around a lot, really know, but I mean, if you go off the monthly here, maybe it got a little over down when it got near to 65, maybe a little, you know, over sold when it got here down to 40. Right. And now it's on the rebound. Our pre-market high. We'll see if that comes into play today at 47, uh, the monthly's or, you know, if you want to hold out the monthly's, you're not giving you anything until, uh, closer to 49 on the upper 48 handle.Sure. Does it feel like we're going to get there today? Uh, we can look at square too. I'm looking at actually learning stuff. Whoa, look at the chart the last few minutes. I know they had earning, but I didn't really put it just, yeah, look what he just did. Their earnings was out last night, EPS, whatever, missed by 2 cents, but more or less in line.I mean sales year, over year, uh, it's the same thing as Robin hood, right? They, they saw a slow down in Bitcoin related in Bitcoin transaction revenue, same thing, but what the heck just happened? And I, they must've said something to the conference. This was down $15. Um, just, just wait, Groupon that had a thing this morning where they said that they're going to allow local merchants to create campaigns from the square.That's not it. That's not it. Something maybe is the call right now. It's gotta be, they must be saying something on the cop fault because this just an obvious, this is a problem doing the live show news desk, Gallup, Brent, what's going on yelling. I'm yelling. Because there's obvious news here. I mean, the stock literally 10 minutes ago was 2 30, 6 down 10 bucks.Now it's up five bucks. I just had a 15 point rally in square or the good ones get bought on. So obviously loved stock. It's getting bought here right now after I find out what just happened to wow. After hours. Hi, we did it at 54, 26. And then you saw the beat down to 20 point, uh, beat down there. So I think when the bonnet up there thinking, wow, 2 52, 2 53.That's not too bad, but see if you can take out that pre-market hide 54 or 26. Uh there's. Let me see if I see anything in the dailies. Uh, just on the dailies. If you know, if you do go through that 54 and change, keep an eye on 55 40 that splits a couple highs from the beginning of the month, 55, 54 and 55 20.I was last night on square. So somebody has said something somewhere. You don't usually see a 15 point rally on no news just after, you know, eight hours, you know, or eight trading hours after the companies. So somebody has said something, something so got us. They finally hit the zoom there. The other eight I'm shocked that it was holding up that well, that was low-hanging fruit there.I don't know if I'm looking at okay. Um, oh, Hey, I don't know if you guys saw this. I want to mention the Kroger guys. We haven't gone, Joe. That's what we thought. No. What are you talking about? We have it, it happened again. We have another fake Bitcoin. Presley's never remember when a Walmart member. Yes.Never went to Walmart, said white coin. Do you remember that? What, what is the, what did they release a few months ago? Walmart is Presley's. Walmart is taking except in the white coin. That was fake, but it was a, it was, uh, it was on the news, wires. It as a PR happened again this morning with Kroger, this one, it was on their investor relations page.Our press release Kroger will beginning stepping Bitcoin cash, Bitcoin cash, which is a, a fork from Bitcoin. It was on the IRP page, but it was, it was not real. Merrifield. There is so much manipulation. What is going on? There is so like they got, so they got that on. So that was an actual press release.They actually got that on. We got it on their page, but they they've already come out and said so many hacks and so much, you know, manipulation of this market trying to manipulate the market. I mean, obviously you got to go look, if you're a regulator, you know, who's made big purchases, this over lie. It's hard thing probably to track and figure out.So, uh, let me read you a statement that they send to Benzinga. This is from Kroger Kroger, PR this morning, a press release was fraudulently fraudulently issued, claiming to be the Kroger company that fall asleep state of the organization will begin to accept Bitcoin cash. This communication was fraudulent and is unfounded and should it be disregarded, but it was on their I R page, which I don't even understand.Holy cow. Wow. They put that on. To try it. And then what did the stock do on it? It popped, it popped. Why, why would you pick on Kroger? Like whoever's doing the hock to pick the right company. Like why pick on Kroger, a stock that has struggled to move like a straw? Like it's not a big mover. Cause he probably got in there, you know, they were able to get in there.They ended up crack the code risk reward on that Packard don't know, hi, I'm gonna hop off just off man. Like, and I know like we love the matte averse and we love all this virtual reality, both the hack and. All this. I, I don't know if we're made for this new world, Joel, you know, everything's going to be in the metaverse I guess we don't have to worry about, you know, it really, if you think about it and you're going to go live in your happy world in the metaverse, I guess, you know, you don't have to worry about your real world.So maybe this is the meta versus the escape from. On depressing life. Is that what it is? Is that what it is? Is this what it is? Just to escape from your own depressing life? I actually liked my life. I don't want to escape. Yeah. I love it. All right. Well, that's why we don't like the metaverse. We don't want escape from our lie online.You say that now, but you haven't seen the metaverse yet. It's going to be awesome. I got a Sean, you dog's going to join me today. Yup. Sean's going to be talking to some hot stocks and semis what he likes and what he doesn't like. So we'll check in with you guys later on, everyone have a great treatment, right?Uh, I just want to say guys, Hey, everyday we got like between four and 8,000 people watching this show. Um, if we could get some more. I liked the shell 190, I will say I was a 290th like today. Oh, just you just now that was okay. Yeah. I mean, there's no reason we shouldn't be at 500, 600, 700, a thousand likes every day.Right. So if you could be so unkind, take a second out of your life. Hit the, like, when we really would, I mean, we put the show on for free the likes help us with the YouTube algorithm. Why? I don't know. It's just the way it works. The more likes YouTube sees, the more it. Yeah, the video and search. I don't know why it happens, but that's just the way it is.So thank you for the 85 people, a hundred people. Now they just hit the, like, we appreciate that. Um, please remember all the information from our show is meant to be used as informational purposes, not for investing or trading advice. Thanks to our guest today. Hey look, our very first spec guest on the show, Jeff Warshaw, we appreciate him and it's going to be, Hey, it's a Friday.It's a, it's sort of like the last hurrah of like the main heavy part of the earning season. There's still going to be earnings next week. Um, but this was definitely the peak. It is basically all downhill now in terms of earnings flow for the rest of the, the rest of the month here. And yeah. So come up next, live training with Benzinga Dennis, have a great rest of your day, man.I know you're not as down as you think you are, you think you're down more, but you probably know it's the Penn gaming. This caught me bummed out today. I mean, I, I, maybe I just got lucky and you know, obviously you'll have some companies that are probably going up, but up pen move yesterday. I was just shaking my head.I was like, I bought back two weeks ago, like a week and a half ago. I was like, my timing couldn't have been worse. I was out of it. I was out safe and I'm like, you know what? I'm like, I sold the thing, like 82, 80 $3. I was like, I want to rebuy. Cause I don't want to miss the boat. I think, I believe in Dave Portnoy.And then there's the attack on port. Oh. And I'm like, holy that's bad timing on my part. But um, you know, I feel bad. Like I, if like the whole point and I think like if he really didn't do it, I feel very bad for him. But maybe, maybe he did. I don't know. I can't say yes or no, I guess I don't know what, who he said.She said the thing, but I watched the thing, like the response. I kind of believe him. So. Um, TBD on the . This could end up being like the yesterday was the worst of it, but it also ended up being just the beginning. Well, it stops rebounding a bit this morning here. I don't know what to do. I really don't know what to do in this situation.I'm not often involved in our own a stock where one of the major figure pieces is. Involved in a sex scam. You know what? I'm going to call it. Now, Dave Portland is going to launch us back. That's what's going to happen. I hope Dave Portnoy, if I hope he can turn it around, I hope Barstool can turn around.I hope Penn can turn around. Not only for my own portfolio, but cause I kinda like I, the guy makes me laugh, so I hope he didn't do it. I'll just say that. I hope he didn't do it. All right, Dennis, have a great rest. Your day, man talks about a live training with Benzinga going live. As soon as we're done here, Ryan Zhou, nade, Mitch, maybe I'll pop in for a few just to say hi.Uh, coming up next is video and a redirect straight to that. So stay tuned for that, everyone. Thanks for watching and see you over there on our next show.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Moderna, Roku, Wayfair, EA, Take-Two, SkillzReacting to the Federal Reserve slowing down its bond buying programModerna, Roku, Wayfair down on earnings this morningDisney vs NetflixMerck Pill2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Bluford Putnam, Managing Director and Chief Economist, CME Group 37:00Peter Tuchman, The Einstein of Wall Street, Wall Street Global Trading Academy 62:00Twitter: https://twitter.com/einsteinowallsthttps://wallstreetglobaltradingacademy.comMeet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://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.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Avis stock becomes a flying car: CARZillow shuts down its iBuyer program: Z, ZGActivision-Blizzard delays more games: ATVI2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comMeet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://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.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Good morning, everybody happy Wednesday. We got a lot going on today. We got some stocks that are up. A lot of stocks that are down. I have a fancy new camera. We're on so many new things happening. I'll tell you all about it Good morning. We're going to be talking, uh, Avis obviously, right? That was insane. Yesterday. We're going to talk about bed bath. We're going to talk about Zillow out Activision. Ouch. Um, we will take questions from our chat, uh, later on, on the show, but we got it. We got a lot of Tiggers to discuss. Let's get right to it.Also, we have a fed meeting don't forget today. 2:00 PM Eastern time, FMC announcement, 2:30 PM, uh, FMC or a fed press conference with drone Powell. Uh, so that is of course on our radar here today, but, uh, let's get to that. What else? Oh, wait, you have an announcement. Yeah. But go ahead and go through your stuff.Am I missing something? I feel like, yeah. I thought it was going to be up on the screen to special announcements on today's show. Yeah, I'm putting it up right now to special announcements. We have special announcements. What are the announcements? Well, no, let's let's well, let's first go. The S and P 500 futures.They're traded down three points at 46, 20 and a half. Uh, all-time closing high that was made yesterday at 2350. So that's our bogey on the upside, uh, crudes in the red by two box, holy macro at an 81 90, which is inside day. We've found out which way he wanted to go from the inside day. A gold down 360 at 17 85, 80 silver up 11 cents.Let's call it 12 cents at 2363 Bitcoin hanging out near the high, but down $525. It's 63,409. Boom. And Ethereum making a new, all time high. That's the future's about 59 and a quarter at 46, 10. Uh, do we have triple D I triple D in house? Cause he knows about, okay. Shirt on. I'm ready for the and 17 season.I went to the pisses game last night and they could, they could use me out there. Okay. First special announcement. All right. The moment you've all been waiting for. I'm waiting the third and final event from pre-market prep. Won't be final. Finally, the year end of the year, order execution, December 11th.That's a Saturday order execution, maximizing your profits and reducing slippage. We're going to go into detail on order flow, how to read and interpret the consolidated tape. Dennis is going to explain how the off exchange market makers make money off your order and how they use limit orders for protection and then necessary trading adjustments.So you'd need to help level the playing field. Understanding interpreting the order book would help identify key levels and turning points and price actions. We're going to go over all kinds of order types. And then we are going to talk about profiting from any efficiencies off the open and the closed December 11th.That's the first announcement. Big, big agenda there. Second announcement is I am starting a new segment on pre-market prep plus. Starting today. Well, actually it started last week, but this is the second week of it. I'm going to advertise it yet. It's called Wednesdays with Wedbush. I'm going to have a different Wedbush analyst on every Wednesday from 9 0 5 to nine 15, and today it will be SOC Manuelian.He has had an equity trading at Wedbush securities. He sent me a note what he's going to talk about, and it's amazing information. So what you need to do is you need to go to pre-market prep.com. You need to subscribe to the channel and you need to see this interview along with getting my levels and stocks in the final thing.The final thing is that if you go to the pre-market pratt.com channel and you subscribe, you are going to be eligible to attend the event on December 11th for free. And not only that, you're going to get a vet number one and event number two. Oh for free, if you subscribers. Yeah, but not everybody's getting the event for free all one person, the YouTube subscribe to win the event for free.Yup. Yup. I'll get a windy lots going on. Yeah. Lots going on December 11th in websites with what Bush. I want to see everybody there at 9:00 AM. All right. Triple D quiet pre-market session. Let's go. Let's go. Let's just start with the. Let's go to the agenda. Let's recall the agenda item down. You knew we had to leave the show with this.You, you knew that, right? Avis, obviously every single week we're saying to ourselves, this is the craziest thing we've ever seen or received in the last couple of years. This was insanity. Uh, how high do we end up getting? We got a $545 and 11 cents. And Ava's yesterday, Dennis. I know you're watching this, Joe.I know you're watching this. What were you thinking when this was going on yesterday morning? In real time, take us inside. Wow. Well, I will, I actually was tweeting in real time as it was going on. So if you follow my Twitter verse, you can actually know what I was thinking the whole time. And when it was trading up there, I was like, sell your peanuts while the circus is in town.I tweeted that around three 80, came back down to three 15 and then went to five, whatever, 5 45. But what do you do when you're along a stock? And it explodes by 200% intraday. Yeah, ring the register and you sell it. And I think the car party is over. Um, this is unbelievable move. It was somewhat justified that we had to not move.We talked about it on the pre-market prep show. I cannot believe it only opened up three points. That's what I can't believe, because that was a really good report. We talked about the report being just how amazing it was. I did not for the life of me think that the stock could take off and go up 200% after we talked about it.Um, but it was a great report. It was a great report. Um, but it just got silly. The algos are incredible in this market. They grab a hold of that momentum and they just run and they run and they run and there was, was algorithmic driven, a lot of it, but it was also driven by retail frenzy. But again, the one thing you can never call the top on these things, but when your stock starts exploding and just goes into lunatic mode, which is exactly what it is.Um, I think you got to ring the register. So whether you got three 50 or four 50 or five 40, somebody got five 40. Congratulations. It's a great trade. I think you move on. I do believe, you know, in the two hundreds, there was some value for car because they're firing on all cylinders right now, but this is just craziness.That move was insane. Some of the options, I don't know if you saw this, but some whoever owned, like the two 60 options, uh, what were they going for? Uh, well, you could have sold them for like, I think if I saw, what did you buy them for? We know we could have sold them for like hundreds of dollars. Cause it's talking about the 5 45, but what was it going?Oh gosh, I probably next to nothing. I think it was like, yeah, I, it was, it was, they were cheap there. They were, I would imagine they were significantly like, just looking at where the stock was. Like, if you're buying even the 200 calls or 2 25, I would imagine they're going significantly under it. Yeah, you're talking about a hundred bagger, a hundred, not a 10 by a hundred bagger.So yeah. Incredible move 40 cents. We're actually getting 40 cents. Yeah. Yeah. Just, just incredible here, the move and car, obviously it was an awesome report. This market is just prone to this. We see this and we saw it with bed bath and beyond last night. We'll talk about that. We're going to bring that up sooner than the agenda because it's tied in.Uh, but what are your thoughts here on Kargil I've given my thoughts. I think the high is in, I think the all-time high for a long, long time. We'll stand at 5 45. Well, you never know. I mean, it could go into lunatic mode again. Joel, wait, before you start, I want you to, can you just like take, I'm going to take your shards down.Can you just put them back up for me? Cause for it, because we're on this new platform, we're working through things and I want to, I want you to reshare it. Cause the charts were a little bit blurry and I, I don't know why. So I want to get the blurry. I see, I see the blue blurriness, two guys. We're we're going to get, uh, let's find outthe HD. It's the HD button you got. Oh, we're better now. We're better. Yes. I don't know what just happened, but now we're better. So. Yeah, look at you. Uh, well, first things, you know, you talk about this things and how much money you can make. Right? A tiny pie media says, did you see anyone on wall street bad's posts where a guy lost his entire life savings and then some will try and to short car lost 169 K.So, yeah. And what you can believe on wall street. That's what we don't know. People could post anything on there. And I think a lot of people do post anything, but I will tell you right now that some shorts that lost 169 K for sure. This is a concern like overall. Um, there there's some market structure issues here, obviously to, you know, that we've got halts, you know, we've talked about, you know, the halts coming in and then everybody knows it's halted and then everybody's flocking to it.And where are they supposed to calm the market down? I think it actually does the opposite effect. Sometimes I think the algos get in there and start driving it. Um, once these things hit the limit up limit down, down halts, and obviously this was limit up, limit up, limit up. Then it was limit down. Then it was limit up.It's very disruptive to the natural trading of it. It's also, I think there's algorithm mountain Memorial momentum, algos that use those for indicators when the thing halts the first time. And then they jump in and like really run it. So, I mean, there's a number of market structure issues here. The lack of liquidity, probably the number one.When these search things they're going parabolic. Obviously we had a short squeeze. Anybody who was short, this thing was just basically SAS donated. Um, you, you see, you can see accounts blow out with this. It's scary when stocks do this, not everybody thinks so why? I wish I was in there, but I mean, this stuff can happen on the downside too.I mean, we can go to Zillow in a minute too. It's not like too extreme. They're growing it down to zero, but there are so many market structure issues in here that I don't know if we want to jump into right now, but you know, the lack of liquidity is probably the number. Um, okay. Um, I have levels on this. I am still working on them and I will reveal my levels on car ad dot nine 20 on pre-market prep.Plus, I'm not going to have any one of those right now, Dennis. I was telling Joel, if you, you know, you have some resistance up here, if you go back twenty-five years. Yeah. I don't my chart. Doesn't go back that farin 1998, we got to four 16 and 19. Now I'm not digging through that. I would not have known that. Yeah. Yay. Congrats to that, to that person, because it's going to be based on yesterday's price. All right. Fair enough thing. When these things start to happen like this, it's the lack of people shorting the stock that really allows these things to go parabolic.And what does that mean? It means there's no professional. There's very few professional traders that are going to be willing to short that stock to keep the prices. For the simple reason is that they don't want to lose 169,000 or way more millions of dollars in some cases. So the shorts that were in there getting squeezed and the new shorts are like, I'm not sure in that thing, cause I don't want to get murdered.So, you know, contrary to popular opinion where everybody thinks, you know, um, you know, stocks going straight up, let's short. It that's the way you really blow out your account. Don't show it stocks breaking out to new 52 week highs. Don't short stocks making new all-time highs. Don't short stocks that are chipped up in limit up circuit breaker.It's hard to control the risk and people learn that the hard way thinking, wow, I went to 200. How far can it go? You lost 150 or 200% in a matter of 10 minutes, 15 minutes. So it can get really ugly and the things going parabolic mode, I definitely. I don't want to be short those stocks and I'm not looking to initiate new shorts because like I was even saying to my wife, I showed her the charges.Oh, short that thing. That's the natural human tents trader. That's a natural human tendency saying, well, that isn't going to last, I'm going to short it. Okay. Well, you did that. It was stupid at two 50, then it got to 303 50 and 400 and 500. And that is, you know, how you really get hurt. So when you can't control the risk, you can't be just jumping in there and even buying and chasing up at 3 5400.You can't control the risks there either, because the thing turns around in 10 seconds goes limit down. Now you're down and it went, had one move. We went from 3 85 down to three 15 in less than 20 seconds. It's very hard to control the risk and stuff like that. You know, if you were in it ahead of time, I would say, you know, obviously good job.And if you're still holding through all that, what do you want? You've got to ask yourself, what were you like? What were you going. Because when a stock goes from 180 to $500 in one day on an awesome report, is it going to a thousand is going to 2000. These things rarely last these moves we've seen again and again, Kodak, you know, we've seen, you know, the game stopped Nancy.They rarely last and AMC J GME have held up. But those highs that those stocks made when they were going parabolic, it was a day, a day or two. That's really the move. And then they never usually revisit those highs, or it's rare that they revisit those highs. AMC's the same story you had a two day move.Three-day move from $12 to $70 a share. And here we are, you know, six, eight months later, and we've still never revisited those highs. When the stocks go parabolic like GameStop two and two, three days, they make these ridiculous moves. I think you got to ring the register real quick. This, these are my levels in AMC that I will give at a nine.Fair enough. Fair enough. All right. Let's let's, let's go to, uh, uh, Zillow here. Um, I mean, this is just, this is just brutal stuff. Um, and, and, and it's sort of mind-boggling to think about, but, uh, you know, we talked about this yesterday on the antique clothes show. Cause it was, it was, it was pretty weak Intuit's report, which you don't see too often.Uh, and, uh, then they came out and said, yeah, remember the, the eye buyer program that we, that we suspended. Well now we're just gonna stop it altogether. And actually, while we're at it, we're going to take a 300, $4 million write down and we're going to lay off 25% of our staff because we're going to just shut down the entire I buyer or innocent buyer program.It's not working for us. We have about 7,000 homes. We've got to sell, we're going to sell them at a loss and, um, kind of amazing stuff into to, to when you, when you put it in the context of the environment we've been in kind of.No. Um, I mean, I, I I'll just get my upgraded at days. Doggy. I don't know what somebody upgraded this, go to the pro pro either upgraded or gave it a price target race, like two days ago. Let me check, go to the calendar. Maybe three days ago, last week it was EEG go to all time. Um, on how many people did they fire 25% of their workforce.That's uh, uh, uh, uh, how many people it is, but, but I mean, significant, um, I think it was just a possum positive commentary, I don't think. Okay. Anyway, there was an analyst even on CNBC and it was given the price target. This could eventually be the next Tesla is what he said on CNBC three days ago when it was a hundred dollars a share.So. I mean maybe bad luck, but you got bold, bold co going into an earnings report, being that bullish. And obviously in this case, it didn't work out. I don't know what to say here. The stock is really wild here now to you breaking down to new lows, just as much as I'd never want to own a stock making a new 52 week, or I never want to be sure to stock making a new 52 week high.I never want to own a stock making a new 52 week low. And here you are Zillow, and you're learning the hard way if you bought this thing yesterday and I head of the report, holy macro was there selling pressure ahead of the report, Joel, because this thing open 94 and I was like, why they hammering Zillow?And it hadn't even done anything as in a hammered it all day. So I don't know who got the memo, but holy mackerel, they were hammering that stock all day. It comes out and they hammer it even. So you go from $105 down to $73. Everybody naturally wants to buy the dip as much as they want to sell, you know, the extreme pop.And we're all about buying dips and sound reps too. But the, the rule for me is I don't buy dips on stock making new 52 week lows. And I don't sell rips on stocks, making new 52 week highs. So sound the rip and buying the dip when stocks are in ranges is awesome. When they're breaking out, selling the rip, not so much when they're breaking down some, buying the dip, not so much.And we are moving into a little bit of momentum market here, and I can clearly see that. So where we were in a contrarian market for much of 20, 21, the overall market, we're in a little bit Momo here, right? So could it bounce back? Absolutely. Is it oversold? Absolutely. But I don't know where that balance is and I'm not going to take the chances.Neither am I either. And I, but, uh, uh, you know, yesterday we had a step-down seller and Chegg and they just kept on selling here. You've had some big sellers, but coming in, you know, an hour, a little over an hour for the open, you do see a buyer. There, there is a buyer there that wants to bring some stock in it's 70 bucks.I mean, I'm not, I don't have that. That's like not a monthly level, but the pre-market lowest 69, 81, your four bucks off that just the way it's a little different situation here. So if I'm not trading it, not doing options, not doing anything in, but I'd be lucky if I was short, this I'd say, man, I want it.I'm going to put some bids out there in 70, just in case they flush it down the toilet one more time. And then I would stack bids all the way down to 67 and change, uh, because that was a monthly. If I was not initiating no, no, no, no, no. And you know what? 67 to 70, you know, if, uh, if I brought it in there, then I'd be a happy camper because I'd be buying it in a declining market.The next monthly low was 56 31. I don't think we're going to see that today, but just. That's a little thing if you're trading. And what about all the people sitting on windfalls from the last two days? What are you going to wait for you to wait for it to go to 50? You know, this thing is wild too. This kid, this could see 80 today.You don't know where this thing's going to go. Uh, I think if you're short, I think when your stock falls just as much as you sell your peanuts, when then when the circus is in town, the upside, I think it's the same thing on the short side as well. If you're short the stock, I think you're ringing the register.When the stock falls this bar to, could it continue to go down? It could, but it is oversold, but I'm not gonna try to call a bottom initiate a long at this point in time. I mean, just curiously. I don't think the short interest is super high on Zillow. You're talking three and a half percent, so there's not a lot of people making money on the short side.Um, you know, and obviously that has something to do. And you know, when you're looking at initiating shorts and looking at different things, the higher short interest is sometimes like we know a catalyst for the stock to go up because it's already too many people betting that way. So it's crowded trade.This was not a crowded short. It was probably a crowded long, which is clearly coming off here. This. So I think you've got some bounce levels. I think he got some that was bringing in, but I don't want to initiate along here. You're right. It could bounce to 80, but it could also continue to pull a check and continue to leak all that shake, you know, opened.And we talked about it on the show, why I didn't want to buy it. And that's the danger of buying stocks making new 52 week lows. You bought it at 40 or 39. It was pre-market 42 41 40 opens 39 and they puke it down all the way to 32. You just lost a quick 20% trying to call a bottom hard to control the risk when stocks and making new lows and how this is going to be for the other ones.Open door got hit off this news actually, Joel open door went higher yesterday after hours. It's spike.You think it's good for these other, the other ones? Are you just thinking, I mean, Opendoor got hammered ahead of it and now what are they thinking? That is less competition. Is that what you're thinking here? That's exactly. It is. There's no open door is the only game in town now for if you're Intel buying, if you believe that, I don't think they do that.I don't think Redfin does. That's getting hit in sympathy just overall, just because this is real, there's a loser somewhere. There might be a winner somewhere. I mean, that's, I don't know what it is, but I'm just thinking about that. It's an ugly candle yesterday. Open could bounce back. It's flat here this morning on it.I don't know. This is above my pay grade. Trying to call we're open. It's going to go off of this. Uh, I, I think there is a relationship. Like I agree with you and I get the, the competition thing, but as ugly can like Cod a lot along that space, not clear sailing for open to catch score. Yeah. Yep. Uh, not your other disaster of the day is, is activation.Absolutely brutal report. They're delaying more games, job Diablo delayed, uh, sorry. Do you have a four, uh, Overwatch to, uh, delayed probably till next year? Their, their, their head of blizzard is, is stay stepping away. Um, I, I mean, th this is not the, not the first delays we've seen from, uh, regarding these two franchises and it's just, it, it, there, there are two of their key franchises.And so the numbers are, the numbers are, are what they are, frankly. I, I think they may have come in higher on beyond the EPS, uh, and on the sales, but it's not really relevant when you're, when you're doubling. That's what, that's the last thing that the market likes to see right now. So Zillow, Activision, and these are not the stocks you're looking for.Yes. I just made a star wars reference, but I mean, it's down 13%. Again, if you're buying it here, you're buying a stock, making a new, isn't a new 52 week low. It's very close. If it's. Um, actually I believe it is. Yes, it is. It's a new 52 week low. We know we've talked about the stay at home trade coming off.That's something to do with it, but not everything to do with it. Delayed gains a lot of problems here. Do I still like the company? Long-term I think so. I think if you're buying Activision at 67 and putting it in your long-term portfolio, you'll probably be happy two or three years from now. But I don't know if you're going to be happy two or three weeks from now because stocks making new 52 week lows often don't just bounce right back.So I'm going to wait until the dust settles here. I would be interested in reacting activist. I sold my stock at 82, my long-term stock. So I'd be scalping myself, 15 points right now. If I bought it at 67 this morning, um, we'll see, I'm not buying it this morning though. I'm going to wait until the dust settles a few days.Maybe eventually get down and dirty, but I have some Zynga which isn't going to do well after this either. Obviously I have some take two, which isn't going to do well off of this either take two is going to report tonight. What I will say is we just set the bar even. Or take too. So we always say you want to be the second company to report when the first company disappoints.So take two is set up actually, well, if they get hammered today, which they're going to get hit, it's down $2 and 50 cents already, but if they really take to the witch, don't be surprised if take two says anything. Okay. If it was actually the rally off the report, we don't know what it's going to do today.Two 50 is not down much, but if it was to get hit hard, Um, it'd be an interesting setup into the report tonight. If you've been waiting to buy this stock at the June, 2020 lower 67 40, that's what you have on the screen right now, 67 40 a step-down seller. Since the number came out, I mean, someone's, there is a bid out there, 67 40.So I keep an eye that on your pre-market love. And if you, if you don't want it at 67 40 and you think it's going lower, the next monthly low comes in at 60 to 85. Now that's, you could probably drill down on your dailies or your weeklies, your monthly's, but when you get these kind of a historical moves like this, you know, looking at a one minute.In a, is not going to do anything. So keep an eye to monthly lows, June of last, uh, last year, 67, 40 may 60 to 85. But just a, how about the stay at home stocks? Just add a whole, you know, I mean, they are charged what was a Tupperware P T oh, let's go test the one. That's the one you're thinking of because that's what you store your food in when you're cooking at home all the time.Yeah. You got all your food stored up for the pandemic, which is no longer here. I mean, we're, we're, let's, let's, you know, just, you know, call it out here. We, we, we appear to be going back to somewhat normalcy, which is awesome. You went to the piston game last night. I went to a couple of restaurants.Recently. We got vaccines coming for five to 12 year olds where they want to give it to or not. It's an option. It start to get us all back to normal. The back to normal trade is kind of on, and the stay at home trade is completely off and disastrous at this point in time. Um, I don't know what that means for your Peloton, but that doesn't look healthy on the church.Either. Zoom has had a nice rally off the lows. If I was long zoom, I would sell it as well, because there was so much competition there. I don't like that stock either. Um, so you're, you're back to looking at these stocks and saying, well, what stay at home games gaming is stay at home. There's there's already an inclination for people to be selling those stocks.So that's what makes it difficult. And CRS are great question from the chat as well. It is a gaming stock. Um, obviously a lot of headsets, other things too PC, but there's a lot of gaming in there as well. And somebody saying I had nice pop pop-up earnings. Why did it give it back? Fantastic. The reason it gives it back is because there's so much overhead supply.Everybody has just been crushed in that thing. You know, everybody who bought it on Reddit at $40, you know, is now looking at a 25 because people don't like selling it losses. And you know, every time it rallies a little bit, you've got more bag holders trying to get the hell out. This is why it's so difficult for stocks that are in down trends to have significant rallies, at least until they break trend CRSR has not broken trend.You know, what I'm talking about is this downtrend clearly from the beginning of 2021 was $50. It's been cut in half over the course of this year. That is a clear, downtrend is very difficult for those stocks to break that trend is the company getting to a cheaper point. Yeah. But you know, is there a lot of cheap gaming stocks out there?Yes. Logic tech goes down every single day. I bought some logic tech. I couldn't take it anymore. I've wanted to stock my portfolio for a long time. I stuck it in the long-term portfolio and I'm already down at like three. So it was a mistake and here I am, you know, doing exactly what I'm telling you not to do is trying to catch the falling knife.Yes, it is in the retirement account. It's a stocker one in there a long time. It's fairly cheap. I think it trades 11 or 12 times earnings. Um, so I wanted some more exposure, but I shouldn't be trying to catch the following night. I should at least wait until it starts to break trend. So I'm going to probably take some heat on that one, obviously, uh, head and shoulders, a little toppy on the, uh, on the monthly then at the bottom right there.I just, yeah, you see the left shoulder, uh, at a certain point in time. It's cheap and you know, this is just stupidity on my part. It was dumb. It was dumb. It was something I wanted a long time and I'm like, wow, lodge texts, 130 down to like 82 Kramer. Talk to me and do it too, which maybe shouldn't let us all the time.But he's like, this doc is just. Um, it is cheap stocks get cheaper. So learning the hard way to a certain extent. I'm always learning. We're always learning as traders. I would never have it on for a trade, even as an investment, you can time it better, you know, like, so I probably should not have put a couple of lotion.Why catch? Yeah, exactly. At least I'd put a couple of lows and, or at least, you know, start to break trends, start to show some life before. And I do this wrong in my long-term portfolio all the time. Like I've said before, I feel like I'm a great trader. I mean, I've made all my money for my entire life from trading.So I'm, I think, you know, the results speak for themselves. The jury is still out on whether I'm a good investor or not, because, you know, I've done some good investments in my life, but I've done a lot of bad ones too. And you know, it's like, I go half size, you know? So I think I'm an excellent day trader.I think I'm a good swing trader. I think I'm.That I did go on the Peloton yesterday for the first time since March or April, April, and I had the text Lisa and get the password for, yeah. So we apologize for that. We had to connect to the issue. Was that, was that the new restream or was that on you guys? Um, TB did a, it could be a couple of reasons.What we'll show you after the show. That's one strike against restrain three strikes and you're out positive for it. It's a super Mario background. I love the super Mario. That is one that is probably the best game ever made. I'm going to say it right now. I know there's a lot of other people who like all these new games, they don't make them like they used to that super Mario brothers game.Absolutely. Fantastic. I love the backup. Um, that's fun. So we'll give restream, uh, some problems we're having, uh, as we apologize for going out for a second there and also tell audio, did we got audio? We're audio is back. I'll put it in the chat chatter, brief refresh. Uh, page to get audio, um, audio. I didn't have to refresh.Okay. Yeah. Uh, and my camera's back now. We're all back now. I was telling the guys earlier, before we, uh, we, we, we caught up, uh, Joel, Dennis was telling me, uh, mentioned the river. It's bringing me back to the days where we used to have Gremlin's every single day I used to have to call a bird at like, oh yeah, help me.No, we never have very many gremlins anymore. So hopefully we don't have any more gremlins with this new, we're trying a new software here today. It's can do it's a lots of bells and whistles. Hopefully it is reliable though. All right. Let's give them the ability is the number one concern, so, okay. So, uh, Joel, he's falling.Yeah. Yeah. My laptop, my laptop needs to get plugged in. I'm sorry. Should I go off camera when I do that? It's fine. Okay. So we're talking to gaming stocks. The gaming stocks are having a bad day. What is not having a bed bad day is bed, bath. And beyondwhose guest we don't have a guest or we don't have a guest. Okay. Well, let's go into bed, bath and beyond right now because I can talk 20 minutes on this. This is part two. And what do you do in car part two last night? What do you do? You don't chase it? Yes. Sell your peanuts while the circus is in town.And you know what the circus was definitely in town. When the stock goes up a hundred percent on its earnings report. Yes. It was a great earnings report. Yes, they did a buyback. Yes, they did a deal with Kroger. That is all awesome. Let's go. Krogering everyone, but let's this is an Amazon it's Kroger. The deal was Kroger Kroger.I just want to say they didn't just do the buyback. They finished their Bible. Th there or there, or they're going to finish their Bobbeck two years ahead of schedule, uh, by stuck with so cheap. They're like buy more. It's too cheap a couple of days ago. So they're set up well, they're on pace to have bought back a billion dollars worth of stock by the end of this year.So the thing, oh, we might as well just buy more while we're at it. So they're adding $300 million to that buyback plan and they're doing it. They're accelerating their buyback plans for next year and the year after. So they're just like, they're just buying back hand over fist. They can't help themselves.And yes, the Kroger deal is also a thing. Your stupidity $30 a share. That's my opinion. Sorry if you bought it up there, but that was just not a good move. I do a lot of stupid things too. I do stupid trades all the time. Biologic tech three days ago. Very stupid. Um, wow. I cannot believe how high did we get Joe's over 30.We got to 32, the stock doubled last night, Sally European. That's why the circus in town. These are gifts from the trading God's gifts from the trading gods. Do I think, you know, we should be buying a 24 75 this morning. No, I do not. In my opinion, I believe the stock is actually path of least resistance is still lower from here.It is still up 48%. This is bed bath and beyond folks. Well, I know we're talking squeeze, I'm going to squeeze other shorts and we're going to go to up a zillion dollars and to the moon with bed bath and beyond. But we've been down this road before people. How many times have we had these huge moves and bed bath and beyond.And they are very short lived. So we always say, you know, we can go back to the Ryan Dietrich quote that, you know, and obviously it didn't come from ride, but he says it all the time that his. Isn't necessarily history doesn't repeat itself, but it sometimes rhymes in the case of bed, bath and beyond it absolutely rhymes.I'm going to argue that it does repeat itself because you had bed bath and beyond back in January, when it became a meme stock, and we were going to squeeze the living lights out of every short go from 34 to 53, and then it continued to leak and give it all back. Two days later, you had another one back when we decided yes, again, we're going to squeeze the living daylights out of the shorts and bed bath and the one from 27 to 44.It was another excellent selling opportunity. And those who didn't sell regretted it a couple of days later last night, again, we're going to squeeze the living daylights out of the shorts. You did a good job you guys did, but these sorts squeezes usually are short lived. Why? Because they're usually done on stock.Sometimes, you know, aren't that great car, a little different story. It was like black car firing on all cylinders. But in this case here last night, bed, bath, and beyond go up a hundred percent on the report, uh, is isn't justified in my opinion. And I don't want to stop. How do I follow this? How do I follow this?How do I follow up on that? I mean, triple D uh, Spencer and my charts gone now. We're here. We're here. Okay. All right. Uh, man, people becoming in take your Dennis's advice here. Since it hit $32, we did a 20 I 27 before the show started. I said I was at $27 and I was like, well, the circus is in town at $30 last night.Believe I tweeted it out. I've been tweeting that out. So your peanuts while the circus is in town, technical support is at the top, but yesterday's range yet 1681. I don't think it's going to get down. Uh, how about, how is this doing Danny? Get Kroger off the mat. Oh, not bad. It's not that. This thing, got every meme stock off the mat last night.And you saw every stock that was a Reddit stock back in January, getting bought hand over fist last night, including a AAMC and GME GME hit like over two 20 last night, it's still up eight box AMC ripped up like 42 or $43. And then you had all the other Reddit stocks, just rip roar and rally, and them work horse was way up.And I actually traded a bunch of these because when bed bath and beyond started ripping like that, I thought to myself, well, we just did this exercise in our educational event a week and a half ago. And I actually gave a slide of bed bath and beyond I just went bed bath and beyond as these huge squeezes, what we saw was all these other high, short interest docs there to get life.And they absolutely did. I bought workhorse last night on the bed bath and beyond at 7 75, I sold it about 10 minutes later at 800. So, and there was a bunch of other ones too. SDC was another one I didn't get out of all of it, but I got out of most of it, but there was, you know, there was, uh, um, w which are the other ones I wrote cost was way up.It's given it back now. E X, P R was way up, it's given it back now. There was huge, huge moves and these things last night, all a gift once again. So if you were quick and I was quick on a few of them, you're able to buy them flat. They got the bed bath and beyond pop that's already all happened. Could it happen again today?It could, but it's already happened last night after hours. I think the bed bath and beyond 32 highs. And could it go up to 27, 28 again? I don't think it's rip-roaring to 40 though. So, uh, and, and yes, we're course I it's, it's not necessarily a meme stock, but it's tied in. Thanks for the question, Christie.It's tied into this whole group. So we've given this list out before we gave it out on, you know, the high, short interest stocks and bed bath, and beyond start a little bit of squeeze and all the high short interest stocks last. That's already happened. It was an after hours trade. A lot of the stocks were already come on, move on.Right course lifted eight, 9% last night. Good trade. Uh, I noticed when I went in there, Beth, and a couple of couple of weeks ago, uh, like a while ago they started to go into groceries. I'm like, you know, they had like all these fans and I'm like, what are they doing? And then I went into the wine, which I think is closing at 14 and orchard lake and all those shelves were empty and they got rid of the old, the food stops.So maybe they were, are they, what are they going to do with Kroger? I mean, I know that it's not really that important, but what are they going to actually going to do first? There actually is another headline that we miss a shot to end on the chat for alerting us to this bed bath beyond also now last night that they're buying a hundred thousand Teslas.Ah, Nope. People believe that, so, okay, fine. Fine. That, that one did not land. I thought it was funny ed, uh, uh, Joe, to answer those questions for you, what actually is maybe has to be on doing with Kroger. Uh, I liked the zippity dude. I'll before I go on just for doing jokes right now, it says ride needs to buy a hundred thousand.That may be true. I was laughing though. It's going to be an e-commerce, um, uh, collaboration, right? So, uh, yeah, uh, they're they're going to have like bed bath and beyond, as I understand it, bed bath and beyond, uh, products, uh, available on kroger.com and that's essentially the. So, so, um, yeah, yeah, yeah. It's a weird one.Um, anyway, let, let's go to, there's a few things we want to get to before we go to tinker time. Well, these are also tickers from the chat as well, but I'll lift, for example, we should probably go to Lyft here had earnings also last night. Um, and I'll give you those numbers now, their earnings per share, they lost 21 cents per share.I don't think that's comparable to the asked me, asked me what was hot. Was that a 3 cent per share loss adjustment? There sales is more comparable. Sales was a beat 8 64 versus eight $62 million. Um, yeah, they gave some guidance or there, yeah, th EPS is not comparable. Th th they were profitable for the second straight quarter on a basis, but, uh, yeah, EPS not, not real comparable.Their sales were okay. Uh, someone was doing their technical analysis last night. Well, first of all, to say, got absolutely hammered. Look at this, going into the report. So bail in a lot of people out, um, traded up six to 18, but someone was identifying the series of four highs back in mid-October between 50 to 75 and 53 45.Your pre-market high that comes in right at 53, right on the kisser. So if he get back up to that area, that would be resistance to me. Uh, if not, but I am the open, you know, if, if, if you, like, let's say we open up 51 and a quarter, we go to 52, boom. And then come back down to the open. I don't know if I'd want to be long.It there's, uh, an for Dennis gives his comments. I will just say, uh, Uber, uh, Uber is getting the lift off this to hold it up a little bit now. Yeah, pre-market high. I'll just give you that at 4,600. Um, this stocks and a clear down trend, we're going to CRS our list, left trade, and it's a little more extreme version, but I may want to clear it down trend 2021.You've got bag holders all over the place. A lot of people don't trade pre-market. So what you often see is these stocks open up and then start to give it back right away as everybody's like, oh, I can get out. I can't got to get that nine 30 open and give you all to get my money back and to be able to get my money back.It's a lot of people sitting here that actually don't have pre-market access. I know a lot of retail does now, but a lot of traders don't a lot of traders. Don't trade pre-market and they're waiting for the open. So some do, but I think you're at a point where that's where volume really spikes after the open.Cause he would release the hounds on it. And everybody who's caught in this thing over the course of the last, you know, few weeks for sure. Cause it's been trending straight down, but even the course of the last few months is looking like, oh, you know, you bought a 50 and then it went down to 45, then 155 out of 50.I was like, oh, I get my money back. I'll move on. There's a lot of people who want to get their money back and left. That's why I'm not chasing this up $6. I'd actually. Be more inclined to short left here. Um, I don't have a position on it so I can freely talk about it. Um, I would sell this rally if I owned it, just my opinion.We also, I don't quite know if this is a stay at home play or not, but a Wingstop earnings around with this morning and they were not good. Their EPS missed 29 cents versus a 35 cent estimate. Their sales missed 65.7 versus $74.5 million. They did, uh, you know, they're still doing the dividend, but they guided that their, uh, their domestic sales growth guidance, uh, or that is for the year, it was going to be between seven to 8%, um, which, uh, which is actually up and down, uh, from, from their prior growth rate.And. Yeah, I don't, I guess I think so. I was going to say it too. I think Wingstop is a stay at home play. I also, this trade up for 1 77 ahead of the report last night. And I was like, oh, I want to short this. And I was trying actually, but it never went back up there and went quickly. You could've got 1 71 72 last night.It was really thin. And I was like, I kind of wanted to short it into the report for the simple reason is that one, it's a restaurant and we know restaurants, obviously aren't doing as well on two for the exact same reason. I had it in my head that it was the stay at home. And I'm like, I don't, I kind of want to be shortened to this report.I did not. I'm kicking myself here today. I should have hit the stock short at 1 72 and been collecting 20 points here this morning. Uh, you know, being down 20. So I'm mad at myself for that. It takes guts to go short into a report. A lot of guts I saw and I never do it on serious size, but I did well, I would take a normal size position now.I wouldn't like load up because I wouldn't go on and get card or something if I was wrong. But you know, it's always scary shorting stocks and reports, but it's set up well. Okay. And you've been talking about your buddy and, uh, uh, the, just the exponential price growth and, uh, and chicken wings too. You were, yeah, I would tell that story multiple times the way I hear it shows up.I mean, that's a lot of money to just be made, just talking about. You know, like talking to restaurant owners, how's it going? You know, if you've got a buddy that owns the restaurant, how's it going? You know, like, and that was a friend of a friend and said, you know, and he owns a bar. He's not a Wingstop. He just owns a bar, but he's like the chicken link cost is just killing me.So I don't know if the chicken wing cost is killing. The guy in Indiana with the bar is probably not helping Wingstop either. So, I mean, I told that story twice in the show and probably should have been shortening this report just because, you know, Hey, just talking to people, chicken wing costs are going up.I think it shows up in that report, which is, I didn't read the Wingstop report, but I'm sure they're talking about food costs in there. Involved in inflation. Restaurants are getting squeezed on both sides. They're getting squeezed with higher food costs and higher labor costs. Restaurants are just not the place to be right now.One the oh three, that was your July low that's where you're traded down. But it just doesn't, it looks like there's seals someone out there that wants to sell a little bit, uh, next monthly, low look out below 1 36 60. That shit. If they, if it gets 1 36 off, man, one big 50 is big. There's an iceberg sitting there right now.So we talk about order flow. We're going to talk that we'll explain it. And obviously we'll do strategies off of it on December the 11th. But an iceberg order is an order that's sitting there with a hundred or 200 shares and it's a lot bigger. So it's only showing the tip of the iceberg. You know, the order might really be like this, but we're just showing 100 shares.They pack away, pack away, pack away. Cause they don't want to show the big bed there where that's going to spook the market higher. So, you know, when you show big size out there, the algos, oh, I got a big fire out of buy, buy, buy, buy, buy. So that's why institutions high and they use icebergs. I can know it's an iceberg because I've watched this one 50 get hit multiple times here, just even while we were talking on the show about it and it's not going down through it.So we don't know if that 100 shares is 1000. We don't know if it's 10,000, that's the whole point of the iceberg. We don't know how big it is, but it's bigger than a hundred chairs. So it's been hit a couple of times. It's not moving. So like, okay, we got a bigger fish there than it appears to be. I mean, are you using an iceberg for a hundred shares if you got 200 shares?Probably not. You're probably just putting the 200 share order, but if you're putting an iceberg 100 shares, you've got 10,000 to buy. There. That's a significant order that could stop the stock from going down. And it's also at a key level of support as well. So as much as I just said, you know, I want to be short in the report.I don't think I'm shorting it at one 50. I'm down 18 and it looks like we got a buyer there at one 50. So maybe it's a balanced. Um, I'm not trading it off of that, but I'm just saying there's the potential. I was short the soccer. Yeah. I mean, it's significant volume trading here, uh, over the last half hour.Just let me show you the volume. That's what you're looking at. Uh, It's not a ton of volume, but maybe if they were buying 10,000, they got complete here because in this bracket here, pre-market low is 1 48. They bought about 10,000 1 48. Your pre-market low. And I gave you that next monthly low at 1 36, 13, uh, where to sell this thing on a pop.I have absolutely no idea. All right. Let's do some ticker time. I know there is a bunch of people drop takers in the chat, if you'd be so kind to do that again, please, because I wasn't able to write all of them down my one idea for the day. And I recognize that I may be a couple of weeks late here, but I'm not a stop you've ever discussed on the show.B a T R a. This is Liberty media. This is the owner. The owner will be straight on exchange. It's just that they have class, a class B Joel's right owner of the Atlanta Braves world series champions. I, I see we've run up for the past couple of weeks. B a T R a bat, rah bat, Rab, BA TRS Liberty. Have a big state.Yeah. Okay, go ahead. And it's B a T R a and B a T R B. Cause there's more than one, uh, uh, uh, share class, but BA TRAs is the liquid one and, um, I just wanted to bring it up just, I don't know, in case anyone has thoughts, but it's, you know, it's not a very volatile stock, but the Braves did win the world series last night, so.Wow. Yeah. Yeah. I can, I can tell you it's been up at 31 54, a hundred shares. We were talking us super in a stock that doesn't trade a lot. Yeah, best offer. There's an odd lot. If you buy the book arc a book, you can see there's an odd lot at 35. It's only eight shares, which is basically nothing. The best offer is way up at $40 21 cents.So what I can tell you is that this is not figured out where it was 58 K yesterday, one at 22 K uh, on Monday, a simple pattern. I mean, pair highs here, 32 0 1 32 13. You know, take that out. Boltman sit-ins can't get it any easier and technical analysis, then you've seen a potential double top here in the lower 32 handle.Okay. Uh, here's one let's look at Z. I M a Zulu, indigo. Mary. This is a shipping play, I believe, right? Z I M a it's pretty sure it's it's yeah, I think you're right. This is Mitch. Mitch has given us this one before. Yeah. Yeah. That's why submitted stock share with Mitch Mitch? Um, some news on this wide brain, this, oh, this is from the ticker for the chat from the chat.Yep. Start to clear up trend. It's moved a little bit too far, too fast. I would say 46 to 55. You're talking about 15% move in four or five days. That's a big move. Um, I'd want to get this back at 50. If I was going along to be honest, I, the 5 77 is my level. That was your high on September 27th opens up, uh, after that, but, uh, right there, another high at 55, 1 at 55 77.Your pre-market high just under what? Uh, what's the shipping stock? Uh, the national naughty tanker. Is that a and Nat, but a doll. Wow. Yep. $2, Joel. Yeah. Just curious when you thought yeah, it's an oil tanker too, right? Yeah. So. I think so too slow. They want perfect double top yesterday. Joel, like at this levels, Joel al-khan and loved from his textbook levels.1 0 1 12 0 9 75 on $1,200 stock. I'm going to call 12 0 8 59. A perfect double top. Yes. It's a dollar way, but it's a $1,200 stock. It's got 50 point range every day. I'm going to call that a double top. So did you see what the height did you see what the clothes was on Thursday and Monday to 12 0 8 59.The next, wow. That's crazy. In the highway 59. Yeah. For a thousand dollars stock. That's a wild as Tesla. You've got some major resistance up there now folks. So I think even stepping down, I think even, I think you find some and that it did not make the new high. I said, I thought they buy the dip yesterday and Tesla.They did. Um, it did make a new high though. So. It's got it. It needs to make it today. If it doesn't make it today, then you start worrying. If it loses yesterday's low, I'd be concerned. 1146. Yesterday's low. Obviously it's going to be wild. So you've got clear resistance. Super-duper resistance defined at 1208, then Joel, I'm taking all your lines who has, when I learned from you.Um, and 1146 is the low. So that's where I think people would get concerned. So we'll see, you know, I don't know if we're going to see an inside day here or not, but it's right in the middle. So that'd be tough. I 1146, Dennis talked about that. His yesterday's low and I just in the pre-market yesterday, and this is just, uh, you know, when, uh, off the tweet and the pre-market yesterday, you got 11 25 31.And your next daily lows at 1118. So 11, 11. I would, you know, long-term shareholder, you know, it cracks, you know, your, um, I'm not going to worry about this news or I don't want to sell it on strength. See what happens if it loses 11, 20, that's just, you know, not trying to pick a top. Okay, dear. Okay. So dear, what can the matter, dear Joel, to answer your question, we thought that they had to reach an agreement with the striking labor that they, they, they, they came to the game to a deal.The deal was put to a vote at the union, the union. Thanks. But no, thank you. So we are back now to the drawing board, uh, and we are, we are still, we still have a strike going on that has flipped out in the book. Never buy a stock off a union deal when you're not sure there's a union deal, but what chapter will that be before they vote on for their vote on it?All right. So pull us back is when he got here, we're both over at three 40. Yeah. Well, that's where I think the balance level is next, max. Okay. A couple of talks from the chat skills they report tonight. I mean, they're going to kick, got a rating skills resumed with a buy. So that's why skills up this. I just want to say this ad the, uh, they hired the Amazon Zack, uh, exactly.Uh, what day I will predict that was on. Uh, they hired the Amazon exac on October 21st, I believe. And I would say, can you know what, that's a key, this thing needs a catalyst. Um, also Sean likes this one and also, um, don't give him like an NFL deal. Like isn't this a company that has like a real deal with somebody's skills, uh, for NFL, for something.Am I wrong? Maybe lurking in the background, we can look in the pro right now and I'm like, yes, they, they do have an NFL, some sort of NFL complicated. Yes. And you see that? Go ahead, Mitch.Yeah. And this was back in. Yeah. This is back in April that they announced this. Get Bert on it, actually February he's back in February. Excuse me. So, wow. We need to get bird. Okay. Um, someone's asking if we can please talk about under Armour. We talked about them yesterday, but yeah, they were poor yesterday and hear a match.What? They didn't hear Mitch. So when he talked there, oh, that's weird. Yeah, I know we got some issues here with this one. Thumbs up, thumbs down. No, no, no, no, no. It's not just that though. It's also, Mitch has a, Mitch has a broken computer, uh, which is part of it. I'm fighting with it right now. Now you guys.Um, what I said was pretty much that the game wasn't released, um, that was supposed to be released near September time. Um, this was a competition that was done in summer. It's supposed to be done near the opening of the NFL season, and then they were going to put a game out the game. Still hasn't come out, worries about what kind of game they can actually gain the consumers interest in right now.I didn't see. Yeah. Uh, okay. Under Armour real fast popped on earnings yesterday. I'm not sure what else there is to say about, we already talked that one. Yes. Yeah. I don't like to just, I don't like the way it backed off. That's what I said. This yesterday hit 2250. I talked about that 21 level, holding that dead.Hold off the open. Let's see, I made, if I was London, I wouldn't want to see it. Take out that 2156 only getting a few cents and the pre-market long-term buyer maybe come down to 19 29, 19 30. That fills the gaps. That's what I'm looking at. Uh, in, you want to see one more, uh, Ang, this Quebec brought this up.I feel like we definitely brought this up back in February and I'm amazed. Uh, you hall, have you, have you looked at U hall recently? U H a L. You walked into that chart recently, but it always goes up it's yes. Always goes up, always goes up. This has been going on for a long time. You all, I guess I had the five years of consolidation.I don't know car rentals. You hall rentals are going up too. But yesterday when I saw the car, not really, uh, okay. Why can't rent from Avis? I'll go run a U haul. IB. I don't know what the 70 traits there or not, but if it didn't make a new high yesterday, I am going to let you guys finish shopping dash Spencer out.I'll talk to you later on. Oh, wow. That was a pre-market prep. That was a very sudden exit for Joel. Okay. Uh, then, Hey, look, today was I forgot two more. You got two more? Ooh. Okay. Let's go quick. Let's go. Oh man. I'm scrolling through the chat here. Let's look at Papa. Papa. We can go to, someone keeps asking about den Denny's for some reason.I don't know why I was drawn snow. Thank you. Yeah. Yeah. I don't know why people keep asking about that. You want to look at the visa. No, not really. This was one I don't like either 52 week low. I believe it's making a new 52 week low. I own MasterCard. It's not quite a 52 week low, but as a new six month low and visa, I own MasterCard.We got crypto coming at them too. Don't kid yourself with this crypto market. Um, I just think people are in looking at transactions and all the new, you know, so fine and everything else you've got going on there. Competition coming from MasterCard visa. I owned my master stale for the simple reason is I don't want to take a 2000% gain.At least not this year. I'd rather take it next year because I've got a really good trading year. Um, but MasterCard visa, I don't want have them here. Yeah. Okay. I have one more. Fair enough. Blockchain errands. Ask him about hive. I still own high blockchain, mine long. Frank Holmes. Love Frank. And that's why I'm long hive.One more. Let's look at lemonade because it's popping here. Long-term. Earnings. Well, what's the deal. Oh, I don't actually think so. I think it was just a no, no earnings are next week. Well, that's the deal. It's a four bucks. That's news. That's newsy, newsy, newsy, lemonade, car lunches. What, what does that mean?Am lemonade car. I'm looking at the pro Irina, right from the pro lemonade insurance company, powered by AI and social good today on build this newest product for the lemonade car designed to bring a fresh tech first approach to the category. Is this for real? It's it says company. Why do they need to do cars?I'm reading it right from the pro that's in the pro. It says lemonade car launches. Oh boy. Is that right? I don't know. It's up four box. If that's what the press release says, I then that's what the press release that speed BW. That's from you guys. Um, Oh, you should know this has been Zynga, right? I know nothing about lemonade cars.I'm just reading rights from the pro. So I'm assuming that's the headline here. We're in short supply of cars. So obviously lemonade. I'm not going to fade it if it's a real, if it's, you know, and I don't, I'm just reading it right from the pro, but I'm not fading any car headline here right now after yesterday.Yeah. Um, yeah, yeah, yeah. I see it too. Right there. It's uh, okay. Let me and has a car. I don't know. I don't know if that's right or not. I'm trying to just verify, but yeah, I think it is lemonade introduces lemonade car insurance. This is okay. So I, I think this is they're calling lemonade car, but I believe is lemonade car insurance.I don't know how it is business wire. There it is. So business while we're going to actual business. Yeah. When we go there, says lemonade, car launches, lemonades news probably features great prices for safe drivers best in class. Okay. So it's the app. That's called car it's car insurance gave me for a second.I know I'm looking at it. I mean, that's a very deceiving press release lemonade car launches, but it's the app for the insurance. That's called lemonade cars. So we're going to clarify that now, but when you just read, I don't know, maybe the algorithm just reading. I love it. It's got car buy, buy, buy. So I don't know.This sound goes, it's all they do. I'm part algo. So I just read the headline too, and that's what I do as well. So lemonade car lifting on that, Dennis is I don't, I don't know. It's breaking out to a certain extent. $70 old support becomes new or old resistance becomes new support. So I think I'd like it at 70, but it's hard on these headlines there.It's not. All right, Dennis. Uh, we, we, we we'll see you later, uh, or, or tomorrow. Um, uh, and, and we will get you and Joel, and may, if we will get you all, some new equipment here, uh, I have a fancy new camera. We'll get y'all some fancy new equipment here. Uh, I promise, but, uh, Dennis, thank you as always have a good day and a good luck to everyone sell your peanuts while the circus is in town, not investment advice.Ooh, but is it circus advice as a question maybe? No. In all serious has all the information from our show is meant to be used, uh, for informational purposes only, not for circuits advice or investment advice or, or, you know, it's it's it's it's it's uh, it's it's education it's information. Not investment advice.Um, and yeah. Hey, thanks everyone. Have the chat today for bear with us. I know we had a couple of glitches in the matrix where we will work through these as we, um, get better at using this new platform, but there are way more features on this that we are loving. Uh, so coming up next is live training with Benzinga Mitch, Ryan, who nade going through the open.Uh, they'll be joined by a special guest also at around 9 45. I don't want to say who you'll have to tune in to find out. And, uh, that'd be a wrap. Everyone have a good rest of your day. Stay green, stay filled, and we'll see you later.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary: Another stock split for TSLA?Earnings from PFE, UAA, and CARTrading the Dell-VMWare spinoff 2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Craig Johnson, Managing Director Technical Market Strategist at Piper Sandlerhttps://www.marketstructureedge.com Meet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://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.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy