PreMarket Prep

Episode Summary:No more steel tariffs: X, CLF, NUE, HOGEV deliveries for October: NIO, XPEV, LIRoblox Down All Weekend RBLX2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Tim Quast, Founder/CEO, ModernIR and Market Structure Edge 35:00https://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:I think everybody happy Monday. We're back. Let's do this thingcoming 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 stick, I've been in the penny. I will buy the stock for a pen. Everything that you need to start your trading day.good morning, everybody. Happy Monday. Welcome to pre-market preps, Spencer Israel, Joel Kahn, and Dennis Dick is here. He'll be with us in just a minute. We got. A whole weekend of things to talk about. I want to talk about steel stocks today. Cause that seems to be the macro headline of the day. I want to talk about roadblocks.We got a couple of Evie delivery numbers to report from August to talk about. We got Tim Quast on the show today, 8 35 from market structure, edge. Looking forward to that as always, we got questions from our chat. We got charts. We got this, we got that. Joel, speaking of charts, where are your charts? But actually before we get to those charts, tell me how I need to know how many trick-or-treaters you got yesterday under, under, under what.Under the amount of candy that we bought. Okay. Fair enough. Uh, I would say between 30 and 40, uh, about five o'clock. I went into like double handful mode and, uh, Lisa got pretty upset. We're not going to have enough candy. And, uh, it turned out that we have leftover candy. So no, it was a good Halloween and it's a good day for the markets.Uh, the buyers were looking in the after hours. They were lurking at that 6:00 PM. Open we're up 18 handles in 46, 15 are crude after a flat week. That's up 36 cents at 83 93 gold in the green by three 50 at 17 87 40. Uh, silver. This is called flat here 2393 Bitcoin down a tad, but holding 60 K tested that a couple of times last week down 600 bucks, 62,410.The Ethereum futures after making that new all-time high. Oh no, not all time. High, new high for the move on a Friday, that's down to $73 and 50 cents. 43, 76 in a quarter. A good morning, God, triple D. And, uh, how was, how was the trick or treating for your. Uh, I was pretty good. It was a first time in our, uh, well rental house.So we did this whole subdivision there. The kids liked it. We had a few kids cause we're in a subdivision where on our other place, it's not as much of a subdivision, so we don't usually get any kids. So I have maybe 40 50 kids, which was quite a few nice. The boys started handing out candy and then it got interesting because he's handout med falls and I'm like, okay, you got to slow it down too.So actually we had got to words where they were still coming at seven 30 and he had to go into his own stash giving away that candy. So, you know, you learn the hard way, right? So you're giving up too much candy. Oh, now you got to go into your own staff and start giving out candy economics last central banking lesson to be learned here.I think so dip into your own stash stash. We used to do back in the old days when you ran out of. Oh, no. Is this going to be a good store?oh boy. Wouldn't do that. All tie that much. There was no way he was handing out the candy. One thing, the boy going to hand out money. I remember going trick or treating and there'd be like this one house. And they'd give you a penny for every, they'd say how old you are. If you 70, you got seven pennies in that fewer, you know, this may be dating ourselves here.Joel, when pennies were actually eliminate Canada, but yeah. And then, you know, the kids would start figuring that out. Then they'd start lying about the age of 25. Oh, you're too old for trick or treat anything at all. So, uh, I know my one friend gave out Play-Doh, which is a pretty cool, uh, you know, interesting thing.We'll tubs, the Play-Doh so lots of interesting things out there, or trick or treating DMS trick or treat and Joel, uh, I mean, we did, it's been a while with the kids. I tell you I missed it when it was like nice weather, but when it was like raining, no, it seems like it's always raining on Halloween. It's like three Halloweens in a row here was raining here too.Just not crazy, but just enough to annoy you, but it seems it didn't rain all day. And then it started sprinkling just, you know, through the Halloween. So it just seems like it's enough to annoy you. All right, let's go to the markets. Let's go to the markets and start with what I perceive to be the macro headline of the day, which is it was over the weekend.The us and the EU agreed to, uh, pause tariffs that have been in place since the Trump administration on steel and aluminum. So you're seeing steel stocks go higher. You're seeing a Harley Davidson. They are celebrating this headline at the, uh, hog headquarters, uh, this morning. And they sent out a statement that we're like, this is amazing.Explain to us. Okay. Why Harley Davidson benefits from the lifting of steel tariffs? Well, they've been paying higher prices for steel that they're making, not so much steel, but aluminum. I aluminum, I would gather. Yeah, I do see the rally. So I'm not going to challenge you. The stock is rallying significantly this morning.It's just not the first thing I would think of. Oh, you know, steel tariffs being lifted. Let's buy Harley Davidson. Definitely not the first dock. I would've thought of, but not going to argue with the pre-market action hog trading up substantially up 8.4, 4% of the premium. I don't know, is this kickstart, this dog, Joel and hog has definitely been a dog over the course of the last eight months down from 50 to 36.What are you saying on the church? Well, I'm just saying what's going to happen at 40 bucks. I mean, it's just a huge area of interest here with the stock up eight and a half percent up $3. I don't know when the last time it's moved three dot long. It had a big spike a couple of days ago, but man, if the buyers cannot get this thing over 40 and hold 40.Good for them. It's going to 41. I just look at all this apartment. Go on, hold 40. It's going to 41. That's not , I'm just, it's just, yeah. There's nothing in there. And it's just a big level. So I got to imagine, I don't know if he, if he can openness high. I mean, how much volume is it straight at 71. K, it's going to have to change volume for hog.At this time of day, you have to chew through the 37 38 39 salaries. And I bet you there's a boatload at 40. So number of the day 40, use it as you will. Yeah. So also watching steel stocks, obviously, right? Acts Nucor, Cleveland cliffs, watching those tickers. I mean, X got kick-started with their report. You know, we know they had a blowout report and make it so much money.We said, even on the show on Friday, down on the bottom line, they almost made as much as Amazon. That was from a spinner saying that it was accurate, which is crazy on the bottom. I mean, the steel stocks have been cheap for a while, but they are cyclical. So you have to consider that, that this might be as good as it gets right now.And there's going to be times where they're not making nearly as much money. So let's do X, you know, X taking off. I do own the new core NUE. Um, and you do see X falling through a little bit here this morning. Mt. Is trading up obviously over in Europe, big steel company over in Europe. And then I believe I sold my Cleveland cliffs.I debt. So the only one I have left as a new car, I sold the Cleveland clubs. Cause it got back up to that resistance again, Joel, I mean, it's been an, a range 20 to 26 has been the range. And I was like, well, you know what? It does that in three days too much too fast comes back down to 20 two-ish I probably even 23, maybe, maybe a reload.So you're 24, 30 up a little bit here this morning. But if it was to come in more, I'd probably reload, but this is the type of market. When you get the 10, 12% gain or. Yeah, I have to take it. I mean, yeah, we're making all time highs, but there's so many other stocks that are not making new all-time highs.And you know, it's been a market what's been led by mega caps obviously, but it's also been led by technology, but now there's sectors. It's, it's been a lot of chops. So you gotta take the money while you got it. And I'm looking at steel dynamics too, that Joel's got up on the screen. Right? All these charts move.Huge, huge move. If you go back, like look at the monthly, right? Yeah. Yeah. 55 to 66. I mean, these are big moves. So I don't know. I don't want to chase in this environment. I mean, it's paid to chase and tech stocks maybe, but still it's, it's, it's been a tough environment to chase, even though we're at all time highs.There's so many stocks that are not even close to all time. That's true. That's true now for rotation that keeps us strong. We know that in technology, you know, it's just, you can't beat it. I mean, all of this growth tech stocks are back in favor of the Kathy stocks for the most part are back in favor. Um, you know, not saying Kathy's back, but I'll tell you right now, when you look at the air K K Churchill and bring this up, cause this is a very good indicator.If you don't like Kathy, it's a very good indicator for growth tech. Cause she buys everything growth and you look at this and what do I see on this chart? I see a little bit of a reverse hadn't shoulders on ERK. K, not saying I'm a big pattern trader, but I can see, you know, like you start breaking out and get above that 1 25 charts.You don't like why I choose to align? I just do it on a monthly. I just, um, I just drew a line. There's two monthly highs here, a little bit above there. I knew you were a ballpark in it, but I was just, I was just looking, I mean, it's, to me it's a little closer to 1 26 because the August and September I, 26 and a quarter 26 32, your current high is 24 45.But man, you get through that 26 30 area and next monthly highs, it's not up to 31 55. So that's what I'm focused. I mean, 25 is close, but 26 30. That's the real number. Uh, and I'm just looking at the Atlanta. We've had a lot, obviously Kathy's had a tough eight months. Stock's gone nowhere. It's still significantly off the highs, but we've been in consolidation for awhile.And if growth. Uh, benefits from maybe this November, December rally, which I think could happen. You know, I just don't see why not, you know, like we've shrugged off so many concerns. I, I, I just think we're going to go into ramp it up mode into the end of the year. You want to probably be more aggressive.So why not be in growth tech? That's probably going to move. Crypto's looking a lot healthier. I mean, we got Bitcoin up near the highs. Um, you know, maybe not today, you know, but you know, what does Bitcoin do? And Dan, I never even looked to be honest. Uh, there don't you listen to the top of the show you're down now.I was actually running around I actually, and if you're asking me what the shirts, some people maybe comment on the shirts, the same shirt. Friday's show it is coincidental. It actually did get washed through that. But the second thing was I realized, wait, you know what that is? I do that too, though. I didn't wear this shirt for three consecutive days.No, I'll do that. I'll I'll wear a shirt, wash it. And then it's the first year that I wear again. So yeah, I liked it. I believe you, Dennis. Yeah, it actually did get washed. So I haven't been just been wearing the same shirt for three days straight. I'm wearing the same hairdo for three days straight, but I haven't been wearing the same shirt, but there was an issue here.So I actually went upstairs is why I was late for the show. So this is where I'm getting from my miss the top of the show, because I realized at the last minute I was like, oh my goodness, I'm wearing the same shirt again. And somebody will comment on that. So I go upstairs. Well, anyways, what happened in the middle of the night to wake us all up, um, was, um, there's a top shelf above our closet that collapsed in the middle of the night and the rental.So father-in-law put it up. We'll say that it actually, I was considering was, did I put that up and then don't know, uh, my father-in-law put up pretty good job, but he put it up. But anyways, I was not good enough in this case, maybe we put too much weight on it, but that collapsed and it was the very top shelf in the closet.So then that knocked down the clothes hanger where all my shirts hanging that's collapsed too. So I went up there to change my shirt. I looked at the debacle of what the bedroom closet was and I was like, I'll go with the same shirt. So anyways, nobody got hurt. It's all good. Maybe a few things got broken where's tangent of the week.Oh no. I thought it was a bad, I don't know how it went from.no one has more, no one has more house adventures than Dennis. I know the house got a new story every day. I'm never going to get that other house built. I don't think either. So we're still framing. We're trying to lower steel prices. We've already paid for all the steel. So it's too late for that. Now, Joel, the steel's in the house.So the lumber is pretty much bought too. So we're at a point now where we're just getting dinged on the higher labor costs, which I get. I buy everything at the worst possible prices. So don't follow me on how it's building growing 1 0 1. I did not rate them on the chat. Do you want me to buy you a stud finder?I think so on that closet, maybe. Okay. Uh, Hey, I want to real quick can on some, uh, uh, Evie socks, cause we get their delivery numbers every month. Uh, the bottom line here, uh, X, P E V X pond, their deliveries, uh, were, were good. They delivered, uh, for the second month in a row, more than 10,000 cars, Neos was not good.Neos was the way they deliver it, about 3,600 cars. And I told her what she was actually down to thought. That was good. No, that's down for them 27% year over year. Uh, and then we also, uh, li uh, auto, uh, their deliveries also came in a little bit light compared to the prior month. So, um, but Neo is the big one here.Cause because, uh, again, year over year decline in deliveries for a company making, you know, delivering 3000 cars, you know, Uh, yeah, you want to see exponential growth? They're not a year over year decline. P V X, P X is going to be higher because their deliveries were at least comparable, um, and near an all time high for them.Uh, Neo and li uh, not so much. So I just want to make one quick suggestion for you. You should look up stitch fix in. Maybe sign up for it. You're bringing us back on the tangent to you like the tangent or you wouldn't have brought us back there. We're just going to do one of these days. We're just going to do an all tangent show where we don't follow any of the script.Not that we ever had, but they've tried to give us a script. You know, not that I ever look at it. Mitch tries hard to keep us in line. We're going to do an all tangent show where we just do tangents and deliveries delivered. Doris Mitch in the background has the messed up. Mike, the smart. I have no idea what's going on.He's spoken. I was like, who's speaking right now. It's dark Mitch in the background. So we're focused on delivery. So no more attainable, this delivery doesn't even matter. All these other ones. It's all about tell the Tesla. I mean you thousand, not even joking at this point in time. I mean, look at this thing.It's up 30, $40 every day. I said it again on Friday. I'm like to my buddy there we're training. All right, you should just buy Tesla because you know, it's going to be up like 30, 40 points on Monday. That's just what it shocks for. No reason whatsoever. It just goes up 30 points on Monday Tesla. When it's making new all time, highs begets new all time highs.There's some stocks that don't break out. Well, Tesla is not one of those stocks when it starts breaking out, it goes and goes and goes. And if you were playing this breakout from like eight 70 or 8,000, let's say 800. You were up. This is just incredible, but you were up 40% in 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, and 14 training sessions.You have 40% Tesla with one of the biggest market caps in the. It's a 40% on basically no news or was, this is their news and their Spencer's. We had a, like a reasonable headline to really be driving tests up 40% in 14 days, the news was a God who had trillion dollars. That was the night. It was the Hertz is really what it was.The Hertz kickstart. Yeah. That's what really kick-started is that Hertz bought some cards. Bankrupt Hertz bought a hundred thousand cars and they can't stop buying Tesla cents, but that's the way this market works. We know Mitch Darth mentioned the background's all about. Tesla story is still hot. Still intact.Valuation never has mattered ever. It probably won't matter tomorrow either. So if you're shorting this or trading this evaluation, you're doing an absolute backwards and stocks and making new all-time highs. You absolutely cannot be short, no matter how much you don't like the company. Correct. Cause they had earnings on the 20th.So you, so you can say that jump started as well. But yeah, the, the news is that it's going up and then that big it's like a self-fulfilling prophecy just going up. This just hurts. Kick-started this was Hertz. And we know we can see the gap up from the chair. Okay. Maybe 800. It was 900 when hurts came on, but I mean, you've got the a hundred point pop.And now it is a short squeeze there, anybody who's short, this thing is like for sure, but there's just there's this people want to own this company. All the I, so I will say so since February, we even waiting to see February was when all the stocks that were hot, came back down to earth, and now we've been waiting since then to see, okay, who is there going to be?There's going to be another one. At least that will come back and maybe challenged Tesla in a way. Um, is that going to be lucid because we're reaching the point now in lucid motors, where, where we're basically in hold onto your hat mode right now, because this thing is going parabolic right now. Is this going to be, we haven't seen this.We haven't seen any EVs dot go parabolic since February, January, right at the latest. Um, so now what's happening here. Is Lucy going to be. That challenger is there. There's the other UV stock. Some of the newer players are working to right now. The lithium stocks are really exploding too. I mean, Joel, we have, you still have your lthr the whole thing.The whole, you never sold a share. I sold more. I sold half. I bought 50% more. When you did that show, you bought my shares. Good job, Joel. I mean, that's breaking out this E V trade is fully on right now. And I don't know when it's going to co-op a Tesla is obviously the driver, but you see lithium breaking out new highs.Lac is another one I own that. I own both of these breaking out new highs, Fisker, even which I own Fisker is trying to break out here at Juul. It's starting to look a little bit healthier. Obviously some of these other players like loose that have been leading the charge there to fully, fully intended on that one and QS.Quantum scape exploding. What about ride is right? I pulled it up. I pulled it up. I didn't let him mention it now. You know what though? Hey, it's got a lot of consolidation here around $5. Now, if you want to take a shot, could you pop to six or seven? I think you could. I don't have any, it's been a, it's been the dog of the group.It remains a dog of the group, but could have popped a six or seven. Maybe. I, what are your thoughts on ride? The consolidation? Is there, you know, where you stop yourself out? The lower, the move 4 64. It's a little bit of a, you know, cause $5 stocks. It's like 12, 13% stop loss, which isn't that great. But at least you've consolidated.I mean, there may be easier money Tesla who goes up every day, but eventually you're going to have the one concern here is, is that Tesla is definitely entering over bought territory. So are you going to get a a hundred point pullback and Tesla? One of these days, he kind of already did three days ago.And when it went from 10 94 down to 1001 and what'd they do, they just they're buying it again. The next day. So I'm not sure where the Tesla bandwagon, but Tesla continues to make new highs. You got to think the other Evie trades are going to follow suit.What's that doing nothing? You're consolidate not going down anymore. That's a good thing. Both about both of them is they both have a lottery appeal. They do. They both have budget in the options. I bet you there's. Some people buying calls and some of these things too, they do have a lottery appeal, maybe.Yeah. I haven't looked at open interest on any of those things, but I'm thinking there's always some lottery appeal to those stocks. So I know, oh, you're going to say, cause like, so lucid and quantum scape are kind of the two that are getting are moving the most right now. Um, you know, I, I know Fisker, I guess a little bit, but you know, I know you're going to save it lucid.We don't chase it up here, but, um, Is there a setup at all? You know, like where would you loose it? Where would you stop yourself out? I think you'd have to stop yourself out of the 35, 43 from yes. From Friday, I think. But the problem is the stock's wild. So it could come down like 35, stop here and then start rip-roaring again.So sometimes, you know, sometimes just playing the momentum, you know, maybe you do something like that, but do you want to chase it up three, four bucks? I don't like chasing, so I know it's a 12 right now. Nicola just hit 12. I haven't looked at the Nicola. We're looking at the ditches when we're looking Nicola and ride, but you know, they don't look bad.These charts have consolidated. They, if they, if the Tesla continues, I think eventually ride Nicola will catch a bit too. It depends on. So Tesla turns around, starts getting spanked. It'll pull the whole levy sector. All these stocks are just being led and they're showing life in the last couple of days because of Tesla.So Tesla is trying is leading the charge here again. There's the pun, uh, leading the charge here. I don't know if there's a catch-up trade Nicola ride, work horse, but there, you know, you've got, you've got yourself an out, at least I think this is a really interesting candle for lucid, right? Or what you have going on today because you made a new high for the move.Right? You got a little overextended. You had salaries come in, your sellers took it down and now all of a sudden it, Ooh, wow. That's a lot of volume now. 6.6 mil, is that right? I'm not looking at that. Right. That's true. It's crazy. That's a lot of items. It's huge volume right now. I would just say on this one, if you don't get through that 40, 50 or.I don't know if I'd want to, I don't want to, if I want to belong because you got a lot of people got caught here. Oh, it's going to 42. It's going to 43 is going to 45. It's going to 50. And then they pulled the rug out. And now all of these people that got stuck here, you know, let's say since noon, right around noon, you know, these 38 to 36 buyers, they're scratching their head on the close and then boom.Now you got this. So keep an eye on, I mean, the pre-market eyes right under, they're under 40 and a half 40, 46. So if you really want to say, you know, to keep going, I just, you know, you, the red candle, the pullback, we'll see what happens at 46. Yep. This has been your, your, your wild child and the trade is still fully on though.And it's leading it. It's leading the market here. So keep an eye on Tesla. If you're trading any of these stocks, loose it too. Like, I know people can say lucid leads, but Tesla will lead as well. So keep an eye. As long as Tesla stays healthy, these Evie trades probably still stay healthy. Okay. I want to move on to row two, a roadblocks here because, um, it's sort of nothing to do all weekend.This was a story of the weekend is that roadblocks was down basically all weekend. It wasn't more than two days. It was like, since it appears to care. No, I mean, it's what I'm saying. It doesn't seem to care. Um, I think I suspect maybe it's because mostly kids are on roadblocks and not, not adults, but I mean, roadblocks is a $50 billion company.Can you just imagine, I mean, it's more than Twitter. Can you imagine if Twitter was down for three whole days? I mean, Kind of crazy, right. To think about anyway, this doc is not reacting. The market doesn't care at all, but I found this to be a very interesting, I didn't even see it, get that much press over the weekend.So I had never even heard about it, to be honest with you. I point. Yeah. So I find that a very interesting phenomenon here. There you have this huge company, a huge platform down for three days. Yeah, nobody really cares. I don't know this store. I don't know if I, I, part of me wants to get behind it and we have traded it a couple of times, but I it's, I don't know if the story is just getting started.If the story has already happened. That's where I'm, I'm mixed on RBLs so I don't have any opinion out of here. I mean, it's in the middle of the 85 area. Couldn't eventually see a hundred. But because the story cool off it could as well. So I don't think there's easy money in roadblocks here. Joel thoughts.Ah, I do in this 50% here, cause that was the, you know, the part of the move. It traded way up to 90 and traded through that. And it's been consolidating trading above and below this area. So, you know, two bucks away holds this 82 50. I like it. You got to assume this is going to go back and work its way towards 90.I want to get real excited about it trading and triple digits again, until it takes out the para monthly highs from August and September, between 90, 43 and 90 95. So I know roadblocks is like tangentially related to, uh, to the metaverse. So this begs the question. If, if you're in the metaverse any chronic crashes, do you die?Like how does that work? Because this is this like a matrix situation where you're where you, if you die in the matrix, you die in real life because we just saw robots come down for three days. Are you w what happens to you if you're in, if you're in there, when it crashes, are you just in the suspended and the nation?Don't ask me and Joel questions about the metaverse. We don't know anything about that. We live in, we live in the universe, the real world here. I don't live in the metaverse. I don't understand the metaverse. I don't get the metaverse. I guess the gaming aspect, I can appreciate it to a certain extent, but this, you know, even getting into with it, the virtual homes and people paying millions of dollars.Cause they can go sit in their virtual home. I honestly it's. I just don't get it. But is there are, you know, trades off of this? Absolutely. I mean, it's the hot thing. I mean, Facebook's changed their name to Metta. So all of these little AR companies probably going to benefit from it and there's a pile of them.I know V our eyes won Barrett. Which is no. Wow. Oh, it's up near the highs. Look at it. It's new. It's new hot, not all time highs, but new, like every week highs, the stock's been in the gutter, but I don't think it's coincidence, but showing life, you know, in the last few days, With, you know, a lot of talk about the metaverse, but you know, VRI was a bear.Remember barons had that, you know, like two years ago we've mentioned it and then barons mentioned it. I think barons, I remember this parents taking our stuff and I, you know what, I remember this because I like it. Who someone mentioned it to me. I don't know if it was Jean. I can't remember, but there was a gap.This was back in 2017. And I said, you know, I'm going to put my order in for the gap fill and it missed it by like a new. And then over the weekend, the barons had their, their right up and it had that pair. But I totally forgot about that stock, but, um, I was mentioning this to Mitch and Spencer. I don't know if you came on, but I was wondering if this, uh, this metaverse thing is like the jump, the shark moment for Facebook.And, uh, they both said, no, they both said, well, I don't know about you Spencer, but mid said, no, he thinks that this is, this is going to be huge. That, uh, it's going to be really, you know, they're making the change at the right time, Metta versus probably not Joel and I's cup of tea. So I'm gonna use the chat here right now.Chat, give us your best plays on the metaverse. So give us, you know, there's a lot of people in the chat. The chat is really good at following this stuff. We don't miss that background, but I want to use the chat today. So chat throw on your tickers for the best metaverse plays. Um, no, not saying I'm going to buy it, but if you're a believer in the metaverse, this is going to be the future and we're all going to not live in reality anymore.We're all going to live in virtual reality. Give us your best metaverse plays. You was one that was given to us from Eddie and it was given to us by Michael pact or on this show. It's one that I royally screwed up because I bought it the day. Michael packer said he loved unity and I took the profit on the swing trade.And I should not have, because it's making you high. So you, I love you. I would be a pullback on you. We've got a whole pile of metaverse symbols coming at us here. I'll read you a few of them. And then I will defer to my own pick, but, uh, MTTR, Fastly, um, vastly, they got unity, which we just talked about. We just talked about in videos in there.Why not just get all of them in one fell swoop with the metaverse ETF. It's already a thing. Maybe we should just buy meadow. Yeah. Maybe we should buy meadow at this point. It's basically just a big Tucky DF, but yeah, that's the idea behind it. So why not just throw all your eggs, throw your eggs. We got to go look.I want to see what's in Metta. I will tell you, I'll tell you right now telling me, please tell me, show me on the screen to show me what. Yeah, because if it's. I wish are you homeless stocks, then you have to consider that if it's all right. I'm not, I'm not sure, but I'm not even sure. I'm a believer in the whole metaverse crates here yet.But show me what's in there. Here we go. Microsoft roadblocks, Facebook, unity, Autodesk, 10 cent, Amazon Taiwan, semi. I amexactly what I said. This doesn't look like a nice short, you know, we find, I don't see Veritone in there. Joel. I don't see the one other ones, ETF classic ETF. We're going to make a basket or something. That's not what it should be about. All right. I love, I love the new Mitch voice though. In the background, I'm going to defend.Because those are just the top holdings. If you, if you go look at the entire holdings which I'm going to download right now, they've got some, some, uh, outliers in there. Is that James Earl Jones in the background? Yes, it is. Um, so, but again, that's the idea, right? Is it's a broad based bet. So I would defer to the ETF for that, but, um, th there's dozens of plays out here for, uh, for dentists or whatever.Um, we went down one way. We go down to S and P points. Joel's ready to throw in the towel on the portfolio, even though he's the most, he's the, the Mo he, if anybody talks against their book more than Joel, I don't know because Joel Smith bears a long time, but he's not allowed to sell stocks. Thank goodness for Lisa A.Little bit. Oh, you did. You were able to, you put in the business plan and you were able to get out of some Twitter. That's a good call. I didn't tell her. I didn't tell her. I saw a funny tweet on the weekend. They were given their price targets. I don't know who it was, but they're giving their price targets for like all these asset classes and you can call them asset class, but they had Bitcoin, you know, at like 200,000 they're 20, 22.And they had Ethereum at 10,000 and they had Microsoft at 500 and Amazon of 5,000. They had Twitter at two. It was all a big on the Twitter. Was that too. So you can tell how much Twitter is loved by the street, right? Or their shallow balances, Dennis, or what are you seeing? We looked in balances and let's go take a look.They are small and nonexistent, right forward 350,000 to buy my Ford doing pretty good. I'm 17 this morning, these are 73,000 to buy big buy balance and visa here this morning. Maybe it's a little bit of an oversoul plan. Uh, nah, you know what? There's hardly anything really jumping out. So they're mixed.They're mostly buys, but the biggest one jumping out at me. Uh, I'm, I'm not sure what happened to BTB T at the close on Friday. I don't know if you saw this, Dennis. I was trying to figure that out too. I don't know. Chad know what happened to BTB. It's just exploded four at four o'clock on Friday for no, but was there a headline or something?It almost looks like a headline, but then it halted actually, and it never reopened. So it got. Hit the limit up limit down and then halted. I'm not even sure. The 14, the quarter print is a good one because I don't see. Yeah, I don't see, I see a 14 and a quarter on my one software, but I'm not even sure that was a good print.So it's actually showing the clothes. Do you see the clothes at 14 and a quarter? Joel? Yeah, I see the official clothes at 14 and a quarter, but I don't really see that train of 14 a quarter. I got to go look at the tape. I'm going to look at the tape because it's trying to figure it out. I'm going back to Friday's tape.And if you ever want to look, you go to the consolidated tape and you can go. And I, my, my sound for it keeps three days of all the trades that going by so I can look through and see what's happened for the last three days. I could download if I wanted to know more, but it was 4 million shares to buy and BT because I would, it was a huge bottle.Oh. So it's a huge buy and balance. I don't follow that stock. So that's why I probably, uh, there was almost 5 million of volume in short squeeze. Oh, that's what it is. It's a short squeeze. I'm going there right now. Oh, yeah, here we go. So 1150 it started taking, uh, at right. So you're right. It's probably bike by and balancing and see, oh yeah, here it is.Here's the print closing print. Wow. Gap up closing print on NASDAQ 14, the quarter was trading out of the hall. So they halted it limit up at 55 17. So it got halted and he couldn't train more. And that was at 1163. And then the, the gap up close was 14 and a quarter. And immediately after hours, it was trade 12 bucks.So the only people that were getting that print were people who had the order out there, obviously before the closing print in between 1155, if you were selling it into the hall. And a lot of times these are cells. When these things limit up, limit down halt, sometimes they hold up. Sometimes it's good to get your order out there and get the hell out.Uh, but BTB T 14 a quarter was the closing print on NASDAQ 3.8 million shares. And then it was immediately back down at. So no idea, but I guess it was a big buy-in balance. I don't know. I balanced it right from the right from the script. It's time for a market structure. Mondays thoughts on all thisTim Quoss founder and CEO market structure spreads, Tim. Good morning. How was your weekend? Uh, it was fabulous. We were in San Antonio. It was, uh, yeah. So, uh, one of our favorite spots on the planet is the hotel. Emma in San Antonio in what's called the Pearl. Is that the place with the river that goes through it, the river walk the river.So the river walk is, is several miles long. So, uh, it basically begins in the Pearl district. And then if you walk up the river, that will take you downtown, walk down the river, walk down the river. Yeah. So it's, it's a great, it's a great walk and. The the, the, you know, I'm an evil, rich capitalist, so I can stay there.But if, you know, if you're used to, if you use market structure edge, you can too. It's just a fabulous place. They're fabulous, fabulous restaurants. There. It is just a lovely spot on the planet. Uh, Dennis, I've looked at houses there. I don't own one. There you go to the Alabama. Uh, we've been to the Alamo many times this time.I think you forgot. I think you forgot.That was a joke. Nevermind. Okay. He did not remember that. All right. Moving on. We remembered the Alamo. We know it's like three blocks off the Riverwalk, right at about Navarro. That's where you we've had a couple of days now to digest the, all the big reports from last week, right. Apple, Amazon, Microsoft, all of them.Right. Um, where are you seeing the broad market sentiment right now? Uh, so I would take those in two pieces. And, and, uh, if you've, if you've talked about this already, I'm sorry, I missed it there. So two things strike me, uh, one with Amazon. And of course I think of the Mar I think of the stock market from a market structure perspective, but that does not mean I'm a nerd too, or ignorant of economic factors.And so I think it's important if you want to take a long step back to realize that Amazon is a touchstone. For a consumption economy that depends for 70% of GDP from a consumer activity from consumption. And so it should get our attention that Amazon as a touchstone is telling us that there's trouble.Uh, and I also think from a market structure standpoint, if you think about the size of these firms, Amazon apple, you have to put Microsoft in that mix. That it's very difficult for a market to continue to chug higher. If there are troubles in the largest components and there may not be, I would look at apple a little bit differently than that.Uh, and I think it's worth comparing. Comparing the, the, to me, the supply demand trends and Amazon and apple and Microsoft, uh, I think that apple and Microsoft are a store. First of all, it's their generational think about this, my entire adult life. Uh, those two stocks have been center points. There was a time when, uh, when my business partner, my mentor, we, you know, we were laying bets because he was a big apple fan.And, uh, and, and I said, Tim, the fellow's name is Steve Janeka. He was a big, he was, he owned a group of papers. He was a newspaper guy. And, uh, he gave me a start early on when I was a young and ignorant and foolish in my twenties. And he and I became the president and chief operating officer of one of that group of businesses.And, uh, that, that's how I, that's how I got my, my footing in the business. But, uh, I thought apple would be, would go defunct. We'll look at it. Right. Do you remember the time they were down to about 3% market share? Uh, apple or Microsoft basically had 97% of the market and they were down to supplying a few, you know, like middle schools with, uh, you know, apple to EAs.And, uh, everybody walked through that door after Steve jobs moved off to go run next. And, uh, what's the maker of toy story, the movies Pixar, and then he had to come back and fix everything. And boy did he, uh, and you have to give kudos to Tim cook for the great job that he has done, but apple has become a product story.And Microsoft is a services story. One is a group, true SAS company, and one is really banked on products. And clearly the supply chain has hit product makers more than services companies. And you really see that in the market structure for Microsoft versus apple. So I don't know Spencer, if though, if apple is a, is a signal of, of deep trouble to come, it clearly tells us, you know, if there's one, if there's one booming or glaring conclusion that we can draw as a culture in the United States about what has occurred, it is that you can't shut down your account.You can't do that, that, that the, the magnitude of the disruption is like slamming on the brakes. If you, if you're the head engine in a freight train, that's a mile long, the effect from that, it will take us a long time to unwind that and it's going to hit product companies. And so maybe as traders, we have to think about that.Tim, can I ask you something? Where, where do you think the market would be? If we didn't have the pen. Uh, well, it's a great question. It's a tough one. It really is. So, so would we be in better or worse shape? Uh, we certainly, and I was, I was reading a string on Twitter and I can't remember the fellow's name because I would love to hear your thoughts, particularly.I think Spencer, you're the youngest of the lot here. And, uh, and, and it's about how the millennials behave differently. So this, the spirit string begins with saying 30 year olds in the United States right now are the poorest that in, in 70 years they don't have the kind of savings that the people before them have had.They didn't have the discretionary income that, uh, my generation had. You know, I think about what I was making 25 years. Uh, and what people are making now, you know, I was making a hundred thousand dollars twenty-five years ago when I was a kid. Right. So things have, there's been a huge impact. And, and Joel, this is the interesting thing.It, and I think the string has some merit that the Robin hood phenomenon, the big point phenomenon, the millennial role was a huge risk taking role, like a casino, like response to an opera, a generational opportunity that the pandemic presented that otherwise would not have happened. So there's, to me, there's no question we would not have had this incredible trading environment without the.But we also would not have had the immense economic damage that we have seen and that we have the consequences of which we've not yet experienced life. Great answer B the Twitter thread that Tim is referring to. I just put the link in the chat because I also saw that thread over the weekend as well.So yeah, it, yes, it basically the, the th the take here is that very good for some, not so good for others, and we're still understanding it, but the, the crux of it was like young people are taking inordinate risks and they're okay with that because of the situation that they're in. Is there a Yolo? Is this like just the mentality of the youngest person is.Hey, you only live once. I'll take a chance here and you know what younger people should take chances. So yes, you're absolutely right. It's one of the famous things that mark Cuban said. Uh, he said, you know, the time to take chances and to roll the dice and to try to do things and to have no fear of failure is when you have no obligation.Right. When you, you know, when you got houses and cars and kids and wives, you can't do that. You can't go put everything on red 34. Uh, so if you want to do that and I'll look, I'm not knocking it, uh, you know, people who are half my age, I'm not, or more, I'm not, I'm not knocking it at all that, uh, you take chance when an opportunity comes along, you take chances.But I think it's important for us to understand cause and effect and how that's going to affect our opportunities to trade, uh, because it's had a, an, it, it's one of those things that fits Stein's law. Uh, and I've mentioned this before, so that's perp Stein, father of Ben Stein. Bedstein it goes all the way back to Ferris.Bueller's day off. Anyone, anyone Bueller? Exactly. So. He said, if something cannot last forever, it will stop. And it sounds like a funny line, but it is a reminder that if there was something that occurred here that cannot be sustained, it's going to stop and there's going to be a consequence and it will be significant.We know that. Yeah. And you're seeing this in the options market. I just happened to have, uh, seen this data, uh, yesterday from the WSJ. Just about the, forget it, forget stock mark, forget stock equity flows, right? Options flow is really where the game is at, right? Because there's so much more money being made, selling the options flow and the, on the options volume, then they're raised on, on just straight, straight, straight style, vastly more money per contract for a Robin hood or a Schwab or an Ameritrade who sells that order flow.Plus there's. And, and think about that from the flip side. And we talk with public companies about this all the time. Uh, they, they, they, they pulled their hair out saying, well, why. Doesn't my stock move. And we try to explain that. Well, that's because the trade isn't in your stock, if what I'm trying to do is find a fixed for floating trade, where the fixed component is your equity.I really don't care. So I go long, short your equity. I just don't want it to move. But when I have five day out of the money puts her calls. I want those to move. And so that the economic. And point is how the derivatives trade, not your equity. And VMware has been a great example of that, uh, leading into this, the big spinoff that just occurred.So they're trading on that today, by the way, that was completed on the 29th, where, where Michael Dell re reduced his, his ownership of VMware from about 82% to about 40%. And I think VMware has a lot of opportunity because of that. Here you have suddenly, uh, an equity of the size of Lam research, which is a great exposure to the semiconductor equipment industry.And, uh, VMware is like that for the cloud. I mean, it's a beautiful 80, if know, it's good. It will be 80 to a hundred billion in market cap. And, uh, I think there could be a lot of passive interest in that Dell could struggle. Uh, because they've gotten rid of this beautiful thing. VMware has struggled for a long time.Maybe now that it's on its own. Like if you look at the last four years, think about what technology companies have done and VM-ware has gone nowhere BMW. So, I mean, you think there could be this, you know, now that it's, you know, not as much under Michael Dell, maybe it says a catch-up trade, maybe I think it could be.And it's, it's very easy folks to see all of this stuff and Marcus stretcher edge, I'm going to, let's just take a look at that. So I'm going to share this market structure, edge.com and you guys know who you listen to all the time. You can do this for free. If you're not a user already, uh, just do it for a couple of weeks and you can, this is, you know, it's important concept to grasp about supply and demand.And yes, Dennis, we could see for, I mean, for a solid year, VMware has been effectively 60% short while we say if, if over half of your daily volume is coming from borrowed stock, that a trader does not. Uh, have a position in, at the end of the day, it's very difficult for your price to rise. There are always exceptions to that rule, uh, but it's certainly been true.And so, uh, we could point this out and say, well, Dell's is half that. And we'll which direction, which is the long side of the trade and which is the short side of the trade. Well, it's, it's not rocket surgery as this goes. And, uh, so if we look here, this is where they are right now at the spinoff. So here's just the last 30 trading days.And I'm looking at VMware and the demand side is going to be the, this, this aggregation of four reasons people buy and sell and how that affects price is 10 point scale. Uh, and it's peaked and it's coming down because of the spinoff. They, they transferred $12 billion to Dell holders. All right. So that's, it, that's a huge handoff, but it will be out of the way and look at the supply side, short vine way up here at 70% of trading.Uh, and so when that normalizes, if that normalizes, which I think it will, there's going to be a real shift that occurs. Even if you look here, the S the, the trend line is beginning to flatten, but look how long it has been at, or a higher than 50%. That's, that's a quarter. If I look a full year at this, there, the trend line is flattened.But look at where it is. It's basically at 55%. Well, it's very difficult for a stock to rise when that's the case. And by the way, traders, if you want to trade options, look for that. You can look for stocks that have 50% short volume or more, and you could put a little pressure on the equity one way or the other, and you can make money in the puts and calls.Uh, and you know, it's not getting the price. Isn't going to move that much on you. So, uh, and clearly people do, I think hedge funds understand that. So, uh, it's interesting to see, so let's look at Dell. Uh, Dell is, is, uh, and I, again, I think that it, from a supply demand perspective, look at the reversal here.Why would everybody be long Dell? Well, cause they're getting $12 billion. They're getting $27 a share from VMware. Well, everybody wanted that, but that's a one-time event. And when that's over, what's likely to occur. Well, I think that short volume could normalize in Dell and come down in VMware and that the trade will shift to VMware.We'll see. But that's, I think it's a very logical conclusion that reflects, uh, a set of characteristics. That's very easy to get. So we'll see. All right here, there's a, there's a nice trade idea from Tim quasi. Founder of market structure edge joins us every Monday market structure, edge.com link on the screen link in description, Tim, always a pleasure, sir.It's always good to have a good one. All right. Hey, it's 8 51. Let's do some take your time and we'll take some questions from the. Depending on what you are watching here this morning. Uh, there was a couple of more things on my list because, uh, you're getting some movement in the vaccine stocks it's morning Novavax that I have my Madrona had a headline with during, uh, uh, uh, talk down the timeline for when they're going to get FDA approval for their, their vaccine and kids in the U S they said, may, it may not be till next year.So trading lower on that, and Novavax got approval in India. Those stock is trading well off the pre-market high here now. So, um, couple of headlines I wanted to mention, uh, ticker, L a U R. This is your big loser of the day, but it's not actually down. It's if you see a, a scanner, you might see down a 41%, but actually they're paying a special dividend.So it's not actually $7 and 1 cents special dividends just to close is $10 and 31 cents. Right? So not actually down, even though the price might be down, the price is lower. The stock, the Mo the value of your, of your shares are, are not really down. So I want to put that out there. Let's go to the chat here.Uh, BA oh, here's an interesting one from South Africa. How's Lulu lemon doing? I looked at that one for a minute. Yeah. I haven't looked at it for a while either. It's usually up near the highest though. And, oh, look at me low and behold, you know, the strong get stronger. That's just the way it works. Is it eventually a $500 stock?Why not? So, um, I mean, that's a huge move though. Whole land Friday's move. So you've got to break out here. I'd probably the buyer pullbacks on the other lemon, just for the simple reason is that breakout stocks are working right now. Uh, they report later in earning season, right? Uh, so with, along with the rest of the retail stock, so I don't have anything to say about this one on top of yesterday's range, 4 67 0 4.That's going to be support now. And that move on Friday was on doubled the volume from Thursday. So a lot of new money coming into the market, perhaps, but keep an eye on the top of yesterday's range, 67 0 4. And if you're worried about give it back some profits, just make sure you keep improving on that old time.Closing high 4 66 0 1. Okay. A couple of interesting ones here from the chat. Um, Muhammad asked about Farfetch FTCA, which we haven't talked about in a while on this show. This is your, your, uh, European and. African e-commerce play global e-commerce play is what I would say. Not call yourself Farfetch, not in the U S I believe.Um, how could you easy? You just do it. I don't know. Joel's doesn't like the farfetched ponders that would come at it. I know you're in a consolidation station here. The trend is clearly down in the last three months. We go to the weeklies. The trend is definitely down there too. So stocks and the downturn has never your friend, that being said, if you get up over 40 and start thinking, look 42, then he gets started showing some life, but it's hard to buy stocks and down trends.When the market is making new all time highs, you want to be buying the stocks that are up trends are getting ready to break out. It's hard for me to just jump on board on forever. But again, if the market starts ripping it continuous to rip, maybe a rising tide lifts, all ships, I'll just go a little fair banya and if you could clear 40, you could clear 42.I mean, can you get back half of this move when this was at 73, 70 $4, maybe, uh, if you're looking to buy this on a pullback, you had a move from what? 34, 29 to 42, that 17, eight and a half, you know, maybe in the, uh, is that right? Maybe I'll go to my NRG tool. Maybe my math is not working today. All right, right here.Let's give it up right about halfway back. If you're looking at, if you think this was the move it's off the mat, 38 and a half, this is the area that needs to hold the turn back and take out that $42 area on so many, send me that her O N earnings this morning, and they had a big old report. EPS beat sales, beat guidance, be for the quarter and for the year.Well, the year was actually in line, but for the quarter, maybe for their Q4 EPS guidance. So are the revenue guidance. So it was a beat, the beat to beat and in wine and stock trading higher as, as it's wants to do, needs to get to 53 63. That's your pre-market high after that, who knows, but longer, it takes to get to that 53 63 little more chance to give some back top of the yesterday's range.Maybe you can figure it out. I mean, unless it has a big reversal that's down at 48, 22. So when you're looking at PayPal, let's talk at, it goes down every day. Joel, they've not been forgiven for thinking about buying Pinterest and Pinterest has not been forgiven for PayPal thinking about buying Pinterest because both of these stocks continue to break down.It seems like every single day they don't participate in the rallies. I don't know they're oversold. I don't know what turns them around. They need some type of catalyst turn around. Everybody's scared. PayPal is going to overpay for something. That's why they're hitting that stock clearly see the divergent from square there.Uh, pens is just, um, you know, after PayPal said we weren't interested, then they had the catch-up trade with snap and Twitter and all social media is just, seems like it's in the gutter right now. Facebook, the only one, maybe not because they've changed themselves to a metal play, but, um, Pinterest, PayPal, all of them in the gut gutter right now.I don't know. I'm scared of PayPal for the simple reasons that I think they might over pay for something too. So if they're kicking around and they got some money and they want to buy some. Yeah. Obviously the market is scared that they're gonna overpay. This is, uh, this is an interesting one because you talk about where it was, you know, before the rumor came out.A lot of times, the point of origin is a, uh, you know, a potential support area, but really blasted through the 55 area is where, when the rumors came well, it cut through that like hot knife through butter, and then it actually went through the low of the move. It made a new low of the move. So, I mean, they're getting beyond punish for, uh, for PayPal thinking to buy them.If you're looking at PayPal here, I mean, DSE, maybe a double bottom, I mean, you know, really, uh, on the dailies, is that close enough? 32 78, 31 71. I don't know. I just think guilty until proven innocent because I don't trust them not to over pay for something too. And if they do or pay for something, I'm going to hammer the stock again.So, um, eventually maybe people will forgive it and it's still a loves stock, but you're breaking trend too. You've had this herd up trend from 2020, and that is clearly broken now, too. So there's probably easier places for your money. All right. Howard wants to buy an Upwork. Uh, now that it's come off a ways after its earnings report awful, uh, three days for Upwork.Yeah. So 60 to 40, you got a huge support of 45. So I think it bounces there the first time that's come this far as it going to test, it might, um, if it got down there, I think, I think 45, I think it bounces at 45, but again, you're buying, it seems like the stocks that have disappointed from earning season besides, well, I saw them will come back.So it's not necessarily true, but after three or four days of, you know, the dust, it seems like they get worse. I mean, my end. You know, that's had a nice day on Friday, but you know, basically got worse for three, four days afterwards, Lockheed Martin. Catch-all another downgrade a day that can't pick itself up Upwork.It is technology. It is growth. The tech, it is the kind of stock that you would think would benefit if we go into this late, late, late year rally 45, I like the 45 44 better. Uh, is this like a, um, a state of. Upwork all technology could be to a certain extent. I would actually call up work more of like a, uh, I don't know how you, how you'd put this, but more of like a play on the changing workforce dynamics, right?Because people are job hopping. People are working two, three jobs, you know, not, not necessarily because they have to, right. They're just side hustling and, and they're, you know, or they're quitting, they're quitting their one job taking up to two or three side hospitals, right. To make up for it. I would call this the plan.Agreed. Yeah. A hundred percent, right. Spencer, Dave, and actually talk about this on their commercials. They talk about how this is the independent worker and how changing of the environment of thinking about the independent worker has changed now. They're, uh, they're viewed as a part of the company, not just third party.We're just outsourcing. Yeah. Yeah. Uh it's so it's more of a, more of a long-term play on that, but I don't know if I'd call it strictly estate. I wouldn't call it. I love that voice though.I mentioned new mixer mixer thing is broken. So you sounded like Darth Mitch over there. It is dark match. Yeah. I might call him dearth much forever. James has a good idea. Maybe if he breathes in helium, it'll counteract the deep voice situation. And, um, yeah, that's actually not. Um, yeah. Okay. So it is not a clock here.Yeah. I'm going over to our pre-market prep and our pre-market prep plus, and I'm going to be joined by our Brent Slava head of the Benzinga pro news desk. And he's going to talk about the morning movers and I preview the week. So, uh, Spencer I'll catch you later on everyone have a great day. All right.Uh, I just wanted to, before I hopped off as well, see you later, Dennis, uh, give you a preview of the earnings to come because we didn't really talk about earnings today. We had on semi we, we got Trivago this morning. No real big names, no real big names tonight either you've got names like NSPI, uh, Chegg, Clorox, and only not really care about that stuff.Right. But tomorrow is when their earnings pick up one thing and we've got Pfizer tomorrow morning. We got Underarmour tomorrow morning, Generac Gnoc every time I look at that stock, it is trading higher. Uh, tomorrow morning, tomorrow afternoon, Activision Zillow, which has stopped going. Uh, yes, it did. Okay.It's not going down. So that was good at Zillow, but, uh, uh, Zillow tomorrow afternoon, uh, activism tomorrow afternoon. Did that stop going down? Yeah, sort of. Okay. Um, later on Wednesday, CVS, uh, Roku skills, Qualcomm, Fastly, uh, big names, Thursday, modernists square, Uber, Airbnb Peloton. Uh, so some cyber screen names, Fort and CloudFlare, and, uh, Friday draft Kings and Coinbase app, um, canopy growth.Ooh, that's a big one front foot. That's a big day for Friday. Drafting is Coinbase can kind of use those on a Friday, but DraftKings and Coinbase together that should make for a funny, so we've got another big earnings week. Don't forget. Also fed week. Right? Wednesday. We're gone to get a fed statement.Maybe we, we should maybe take. I don't know if we'll do it at the close today or tomorrow morning or what, but we should definitely take a bet on the show as far as cause we know they're going to announce tapering. Right. We, we know. I mean, I think we know maybe we, maybe we bet about that. Maybe we bet about, um, when they said they're going to start tapering.Maybe they announced the start date on Wednesday. So that's probably the big event of the week just for markets, right. Is, is, is whatever the fed says, Wednesday, two o'clock and two 30 for the press conference. But, um, so have that on your radar as well. Of course we have a jobs number on Friday as well, first Friday of the month.Um, yeah. And other than that, Hey, new monthly candles. If that's your thing, take a look at those, uh, start to a new month. We gotten through. The volatility. Remember when October started, everyone was like, oh, October is the big volatile month though. Watch out. Well, we got through that and November is historically a very strong month for markets and that's kind of where we stand we're back at new highs again, who would have fuck it.Some of us would've found it, not all of us, but some of us w w what if I get, uh, okay. Uh, catch up on the chat. Uh, Bubba, what did I miss that? I know there's a few tickers we didn't get to. I apologize. Um, David Green is going to go live here, uh, in around 20 or so minutes here. And he'll, he'll wive trade from the open.Um, until 11 o'clock Eastern time. Um, and, and then we'll do Spec's attack. We'll do our Benzing alive. Mid-day show with myself and Aaron Ray. We got, oh, we got like four guests today on the show. Um, moon or boss will be alive at two o'clock that's our, uh, crypto and all coins show. So save the, uh, discussions about sheep for those guys.Cause they, they actually know things about that. And, and I do not, uh, I'll be back at three 15, uh, without the close with Joel and endorsee and money Mitch at four o'clock and that is the schedule of the day. And oh, what else did I want to mention? Yes, if you are, I'm sure you know this by now, but if you're not in America, if you're overseas, you're, you're up to as their daylight savings and a week before we do it in the U S um, so it's going to be a weird week for, for us, but we'll be back in normal times next week when.The us does daylight savings time and we can all get sinked up again. So, um, yeah, we're gonna have that works out. Okay. Uh, Hey, where are we on the lakefront? Not enough. We're at 155 on that, right. 282, just, all right. Let's get to like three 50 likes. I'd appreciate that. Thanks to our guest, Tim Quast. You can find more about his platform of going to market structure, edge.com and he is the sponsor of today's show.Uh, and please remember all the information from our show meant to be used as informational purposes, not for investing or trading or life or medical or any other kind of real world advice. Uh, we're just here. We're just here to have some fun and hopefully drop an a knowledge, not knowledge nugget or two.If we can, uh, Hey, hope you all had a great weekend. Uh, saw a bunch of great, uh, uh, Halloween costumes on Twitter over the weekend. Uh, if you had to go one tweet at me and asked her Israel, but I've never really been a big Halloween guy myself, but I, I like living vicariously through others. So share with me your cool costumes and, and I will get some joy out of that.Uh, okay. And I think we're done so, Hey, while you're here, check out bins and go pro pro.benzinga.com free two weeks trial for everyone or credit card. No hassle, no, nothing like that. If you want more than a free two week trial, you want an actual discount. Try the Cody YouTube 20 Y O U T U B E two zero, but we'll get you 20% off.Any Benzinga pro subscription. WK is asking about my least favorite Halloween candy. Well, WK I'm allergic to peanuts. So that disqualifies me from like half the candy. So I hate all of those because they will literally. So sort of a easy way out of that question, uh, for me, but bullets, bullets, Kit-Kats bullets, Twix, bearish, anything with peanuts for me.Uh, anyway, Hey, that's a wrap. David Green will be long live and around 15, 20 minutes or so. And, uh, trade the open. Everyone has a good rest of your day. Stay green, stay filled. That's all make some money today and I'll catch you guys later on.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Both Apple and Amazon are downBuy The Dip For Apple Stocks?Amazon stocks down after earnings, guidance miss Wall St. estimatesApple sinks on supply chain woesCGC,MJ,TLRY,GRWG,AMZN,AAPL2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Michelle Krebs, Sr. Director of Automotive Relations, Cox Automotive; Executive Analyst, Autotrader 36:20Meet 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/podcastsGood morning. Good morning, Spencer Israel, Dennis take Joel is also here, but he is refusing to reveal himself. His camera's turned off. His microphone is on what his camera's turned off. He's I think he wants to do a grand reveal.We don't know what Joel looks like right now. He, uh, buddy buddies here. I promise. So we got a lot going on today. Michelle Krebs is our gas juice from Cox automotive. If you are joining us at 8 35 to talk through, uh, what happened in the automotive market, uh, in, in the last quarter of GM for Tesla, we'll talk about all that.We'll get her thoughts. Um, we'll take questions from our chat as always hit that like button, please. And thank you. Um, Joel, do you, are you gonna ever show us your face today? Are you going to get, just leave us hanging for the full hour? Hey Mike Rosta, Joel Rosta. Joel, we going to cover on the show today?Rosta. Joel, I likedMurley shirt. The Jamaican mechanics made it here. Throw it back reference. That's a throwback reference. All right. We should go and Vertu where's Enver ever. Does it ever, does it ever come on? No, he did not come on and doing it the way we should've done it. He's doing his camera virtually show him and we're come on and show you for a second.This is behind the scenes. You guys never met Anne Burke. And when you meet Enver, he doesn't want to do it. Come on in or in the scenes telling us what to do and to getting all the he's. The one that Andrew is the one that puts up all this nice, uh, everything that you see on your screen right now. Yeah.Um, agenda, everything. Those of you who are asking, oh, I have a special guests coming in. Apparently those of you who were asking, oh, I have special guests here too. There you are. Okay. Got to come over onto the screen. Come on. Special guests. Happy, happy to go. Awesome. We got a Pyre and we got a wedge. And what are you?Very fun. Happy Halloween. Yes. Dennis found a car, right? Okay. Have a good day. Kids are off to school. It's Halloween at school candy day. That's going to be exciting. Very exciting bye. To those of you who are asking who I am, what I am. I am the Benzinga safety inspector. This is a real position at Benzinga.Every company in our building is supposed to have a safety inspector whose job it is to, uh, be the leader during a fire drill. Uh, so usually it's Luke today does me. If we have a fire drill, we'll be ready. That's that's what I am dressed up as today. Or it could be Bob the builder, it look like you're ready for a construction job that want to come build my house.I need more help. Yeah, that, that that's you. Um, Hey, real fast before we throw it to the charts, Joe, uh, Joel, uh, that's your cue to share your screen roster Joel, before we do that, uh, I just want to. Tell everyone, we are doing a special promotion today around Benzinger pro. If you are a Benzinger pro subscriber, you will be eligible for this promotion.I don't, I'm not going to tell you what it is just yet. That's called a tease, but there is, we're doing a special Halloween promote. We got permission to give away something of, of real value. It's got nothing to do with Benzinga real value, not enough. Teads better than that. Uh, it's better than an NFC. Yes.And we're going to give it away only to a Benzinger pro subscriber. Uh, we will talk about it on live trading or maybe at the, at the end, at the end of this show, uh, maybe, maybe for, come on and do it, but, uh, um, want to message? Put that out there. Okay. Let's let's get the charts up on the screen. Joel, how are we doing this?Uh, good. Um, the M J N Dax is, are traded down 4 cents at the, at the current low of the move. Uh, w what should we be looking at? CGH uh, oh, wait a second. All these charts are looking the same. Holy macro. All these charts look the same. Give me, uh, give me, uh, what Gigi moves together. Yeah, relationships what's.Uh, what's the one Gigi WRG or something. She are, I mean, are any, alright, well, we, we will look at those. I said, P futures. That's what you guys want to hear. We're in the rag by 20 handles, we weren't, all-time closing high and then apple and Amazon, they, you know what they did all over the, the market. Uh, so we're down 20 handles and just kind of hanging out mid range.So it's going to be tough to get back to the old time closing high, but we'll figure out how to do it. Uh, crude that's down at diamond 82 71, just maybe going to be negative for the week, if that's possible. Uh, gold down 1160 at 1791, even silver in the ride by 19 twist called 20 cents at 2392 Bitcoin down by 3 80, 60 1,400.And the theory of Ethereum futures there up $52 and 25 cents. And then I hear they made a new house. Let's take a look at it today and make a new high. So$10,000 price target, Ethereum price target based on his feeling based on just hope, your hope. That's the whole trade. All right. Should we start? Let's start with apple here. Uh, so. If you recall, uh, Dennis was concerned, very concerned. He was nervous Purvis until this report. I tried to talk him off the ledge.Well, it's a good thing. You need to listen to me. Um, because my thinking was, look, apple had already warned. They already said a few weeks ago that they're going to cut their they're reducing their iPhone 13 shipment, uh, guidance by 10 million because of supply chain shortages. Well, it turns out that those same shortages that are hitting the iPhone are also hitting every other part of their business.So let's give you the numbers from yesterday and we'll bring the chart up on the screen. EPS was in wine sales. Didn't miss low eighties. That's very rare thing to say. 83.4 billion was what apple sales were. Last quarter. The street was expecting, uh, 84.8 billion. So they missed by about $1.5 billion there.Um, I fund revenue came in wider. Wearables revenue came in wider. iPad did beat, uh, services. Uh, I actually came in higher as well. Um, but the big takeaway here, it was from the CFO, uh, Luca, my street that the situation would not resolve itself by the end of the year, the supply chain impact will be larger than the $6 billion charge that the company just had to take.They said that yesterday as well, they're, they're taking a $6 billion charge, um, as, uh, because of, uh, supply chain was the end effect of that will be larger than the $6 billion charge for this current quarter. Um, and supply chain problems expecting, uh, affecting, uh, all other parts of their business, not just iPhone.So, um, I still maintain my bullish stance that this is going to be a great buy the dip, but, uh, obviously apple is, is in, is in the store. Um, you know, and we know I was nervous. I just couldn't get an iPhone. I go into Rogers and I'm trying, I'm the last guy trying to buy an iPhone and they're like, we hardly have any I-phones and you know, and then I put an order in and they said it should be in, in two weeks.It's six weeks later. And they finally call me, we have one iPhone and we suggest you take it because it's a, God knows when yours is going to come in. So the demand is there. We know the demand is still there. It's not a demand problem. It's simply a supply problem. They can't get the parts to get the iPhones out there.That's why I was nervous that they were going to miss. That's why I was nervous about the supply chain issues at apple. That's why I bought putts. So, and puts were cheap. Joel puts very cheap. Yeah. The one I bought multiple, I bought multiple putts. I did, I did. And I didn't even do the spread cause I was going to do the spread, but I was like, I just thought they were fairly cheap.Overall. One 50 putts, I got for a dollar sick. Dollar seven. I bought a couple of times in there, a dollar six, a dollar 10 right around there. And I went out just on a flyer. Um, so I had to myself with the one 50 putts, but I went out on a flyer and just in case it got really ugly. I just bought a lottery ticket, 1 43 putts.So those may go off, the board are worthless, but those were going for 15 cents. So I was like, you know what? This really gets ugly. 15 cents kind of like a lottery tickets. So on the put side, I don't think those are going to hit. Obviously we don't know. It's still trading. It sells the full day. So there's going to be some movement here, but it looks like it's kind of found its home down five bucks.I mean, overall, I didn't want, I don't want to sell my apple. I just want to hedge myself a little bit into this quarter. So it helps a bit puts will help a little bit. Did you? Oh, she did. Did this week. Yeah. I wanted to hedge through this earnings event. Wow. I wasn't hedging longterm. I'm still believer in long-term.I wanted a hedge through this earnings print. So the cheapest way to do that, it was cheap. One 50 putts. So thing was 1 50, 2 and a half was, you know, fairly cheap, a dollar. I thought it was. Yeah, this is what Apple's doing. It's been running into the reports. This is what it did off its last report. I mean, if you're going to buy this thing into the report and use this deal, that strategy, we talked about sell it the day before the report.I mean, how many people got jammed in this yesterday? I mean the actual day of the report, it makes the high, the move let's just look at is probably going to be reset of a trading range. Uh, got a hard bounce off the, uh, the, uh, after hours low. Let me tell you where that comes in. That's going to be our first area and feels, I guess it's going to, it's really thick and up here.Yeah. 1 44 42. It's going to, it's really thick and up at though at 1, 1 46 and a half, 1 46. Uh, if you look at just if your scalp out on a rally and it gets near 1 49 72, that was yesterday's high. That could, that could really happen. But man, it just looks like it's going to be a trading range, maybe 1 46 to 1 48 and a half today.Maybe the fireworks has already, I think so. So in and people are asking, I've got those putts, what's the best time to sell them. I mean, I can exercise the one fifties, but there's probably be a little bit of time premium left in it just because, you know, we do see some crazy reversals that time payment gets sucked out probably after the first half hour.So I'll probably, I'll probably dump them within if I'm going to sell. Um, obviously the one 40 threes will have they'll have some value, but probably I'll probably lose on those because it didn't fall that far. So I'll probably sell them in the first, like 20 minutes, half hour. But you know, you get a feel for what's apple does like where where's it.Does it open and start tanking right away. Does it open and start rallying right away? No, that all indicates there too. And obviously I'm, I rarely buy puts, and I was going to do a put-spread, but I just thought, like, when I was only paying just over a dollar, I was like, okay, I could have sold like a one 40 eights for like 50 cents and only 50 cents.But then I'm only a hedge for two bucks. So, and obviously when I bought the one 40 threes, I thought there was an outside chance. This could really get hammered. I, you know, and that was a very, I just thought 15 cents. I was like, it seemed pretty cheap to just take a shot, but obviously we'll see what happens.I don't know if those would be worth 15 cents even now, because it didn't fall out far. There might be some, there, there might be, it might be the play to get out actually at the opening print on those options. So, but anyway, I was nervous. I want to head through the print, so that's what I did. Nice job, Dan.It's very, very nice. It's not, you know, it was more of a hedging trade that I was this nervous about the apple and you know, what is very surprising. So let's go to Amazon. We're talking Amazon then to talk to spy overall because spice holding up well, yeah. Mean Amazon . The report hinged on a one thing.And that was supply chain problems. The Amazon report did not hinge on really any one factor, which I guess in the sense of makes it a little bit more concerning here. So the EPS for Amazon came in a very light, the, the reported earnings per share of $6 and 12 cents. We'll get the chart up $6 and 12 cents.First, an $8 92 cents estimate sales of one, 10.8 first one $11.6 billion. And the guidance was also a light. The guide Q4 sales, one 30 to one 40 billion versus a one $42 billion estimate. Um, the one good thing here was AWS cloud growth is still really strong cloud, uh, revenue, uh, rose 39% year over year.Uh that's that's, that's still good that that's, that's in Y with, uh, prior to growth rates and that's all looking good, but everything else was. Not great. Or they talked about increased labor costs. They talk about staffing shortages. They talked about supply chain problems. They talk about a deceleration in their advertising revenue, right?Um, their, their ad business, which is what they call like there are other business, right. Um, there was a lot here that was kind of wonky. Uh, there of course, spending really, really heavily on everything. They spending more on labor, they're spending more on content. Um, it, it was, it wasn't like a, I wouldn't call it a disaster report, but there was a lot of things to sort of go, huh.That's what I would say. A lot of things that make you go, huh. And there's not very many times you can say that about Amazon. It's been in this range. And I tell ya, my buddy, Bruce, he listens show sometimes has been selling. I talked about him like last year for the last year and a half, he has been selling.Calls and pucks both sides every single week. And he brings in like 75 bucks, a hundred bucks, 75 bucks, a hundred bucks, every. Every week. And I tell you, this doc has not done anything better than what Bruce has called, because when you're selling calls and putts, you want a sideways chart. And wow. I cannot believe how perfectly that has worked out for Bruce.I don't know if they're going to continue to work out that perfectly. And at certain points in times he has been assigned. And then what he does is he just flips around and writes the calls. So, I mean, that works so well, those strategies when you get the sideways market and that's what Amazon is in and 3030 500 has been the range for almost a year and a half now, which is absolutely incredible.And it continues to work so good job, Bruce, if you're less than just raking in that premium, this, I mean, obviously it's a little bit higher price stock, so, you know, it could have a little bit, but kind of feels like you missed it. Maybe 30 to 55, a that stands as the, after hours low, that comes in here, right?At this area, you had a pair of clothes at the 30 to 50 while ours was a little bit lower, 32, 38. Uh, there was another law right in that area. 32, 38 36. Uh, I don't even know if you'll see that 30 to 60 was another, I just, you have this shelf here. All right there, we finally found the number 32 60 coincides with the October 13th law look like buyers stepped up to 3 28.They're not, you know, they're not being like super aggressive, but buying and not, I think binding on the cheap get near the pre-market is going to be tough. And then coming back, looking for a rebound, you got to get all the way up to 33 86 to fill the gap, but a trading range, maybe, you know, maybe 30 to 65 to 32.Oh, well, it's already at 3,300, so I don't know. 32, 70, 33, 15 trading range. A little tighter on a range. 3,500. Yeah, let it decide. I mean, cause it's, if you were trying to buy on, uh, on weakness, you had a really good chance here, then you're like, okay, I'm going to buy it again at 32 16, you didn't get your chance there.So it just feels like there's buyers out there. Sellers not being super aggressive steer with the sellers were aggressive. Took it in down. And Dennis, you were talking about the arbitrage and facts and stuff, and I saw it tweeted, you tweeted it out. Like this is down, this is down. I was just going to say, well, just by Michael that's and you know what, that's what they're doing too.I mean, Nvidia and Microsoft are, are probably trading up in the green a little bit here just because they need something to counter. I mean, 10%. So basically 10% of the spy is apple and Amazon. So you get 10% of the spy trading down 4%, roughly, you know, you could just say apple would just ballpark at three and a half percent.Amazon's down 4.08% call 4%, call it 3.8% spies down 0.4, 2%. So that means if you back out Amazon and apple spy is actually flat. So that means every other component in spy here today is actually has the other 498 as a whole have to be. So it's not surprising that maybe they hold up Microsoft. Cause we already know the Microsoft results and they were pretty good.And obviously, you know, we've got some other stocks that are moving around. They're not the only ones, the big movers in the spa. There's a lot of stocks moving here today, but you just got to come in and consider. You're like, oh, the market's getting killed today. My stock's going to get killed. Not so fast.When you have those two stocks making up the entire loss of spy spy, if you back out apple and Amazon is actually flat right now. So this is actually a flat day for other stocks, which is why you're actually seeing some other stocks catch a bet. Sometimes you see rotation go into, you know, different names.Some of the cyclical names may be hot today. The financials are holding up very well today. We've got steel stocks up because us steel had a great quarter. We'll get to that, but you're gonna see a lot of rotation here today. So don't just expect your stock to be red because fire is red. You got to look at the whole ETF and look at the effects.And right now spy is actually trading flat. If you backed out Amazon. Do you want to know the last time that apple came in, in line, on their earnings and missed on their revenue. And I called this bottle, it was Q2 2018. You went over the last time, Amazon missed on both numbers, Q4 2016. This is a rarity.This really, these companies are finding tuned machines. This is very rare for them, both for one of them, let them know both of them to come out, uh, below wall street estimates. So, yeah, and I find it amazing though. The S and P is only down 20 handles that, you know, they're not rolling this over into other tech stocks that they're not rolling this other.I mean, you have the, one of the biggest companies, if not the biggest company in the world saying we have supply chain issues and the market's shrugging it off once again. And they are because, like I said, the rest of the 498 companies, I was like collective whole right now, or. On that news. I mean, somebody said on CNBC last night, just say it again.I don't know who it was, but if apple can't get parts who the hell is getting parts, but the other side of that is like, if, if, and if one company is going to figure it out, who's it gonna be is apple, duh. Yeah. But they can figure it out. So that's telling me there's going to be supply chain issues here for the foreseeable future.This problem is not going away anytime soon. And that means your earnings are going to be weak from a lot of companies that can't get parts. Now, if you're in the service industry, not talking restaurants because food costs, you know, and they're getting a wage inflation, but maybe, you know, certain industries are obviously going to do better.I've been saying, I feel like the banks are going to do better in this environment. Um, because again, with rising prices across the board, I do believe the Fed's eventually going to have to taper. We know what they did in Canada. They didn't even just taper. They stopped altogether, uh, with asset purchases.So, um, the Fed's not going to do that cause you know, they're, they're just, that's what they should do, but they won't, but we can see we're getting into this, you know, environment here where everybody, you know, is looking for a home. And I mean, the market has shrugged off so much and they're struggling off these supply chain issues too.Does it eventually come home to roost? Does it, do these issues eventually start to hit stocks? I mean, we saw apple, Amazon just get, I mean, apple just got hit just directly because of supply chain issues. Does this start to hit other stocks? It's been hitting stocks. Does it continue? Well, I think it does, but where's the money.Well, that's it. So they're just going to rotate another names. Like, you know, I I'm like, okay, I loaded up banks. I haven't been loaded up in banks. Like I am right now since the financial crisis. So I loaded all those Canadian banks, you know, a lot, a couple of people in the chat make in front of me for about a week and a half ago, I'm up four or 5% on a lot of those Canadian banks a week and a half.So I traded my utility stocks because if you go into a rising interest rate environment, these are long-term plays. But if you go into a rising interest rate environment, which I think rates are going to start taking up, um, at least on the long end, then you gotta think, okay, well, utility stocks are not going to do as well, and financials are going to do better.So it's just a reallocation. And I mean, the TLT is going to be your best indicator for that. It's been hanging out. I mean, we had a little rally here again in the TLT, but I don't know. I just think we're in this environment that eventually the fed is going to have to start doing at least. Because price inflation on labor side and obviously on, on, um, product side is not going away.You know what? I could find my theme of small caps and smaller companies doing better next year with the bank theme and, uh, purchased us, uh, some regional banks ETFs this week. Should we get Tim Melvin on the show? Yes. Yes we should. Because he's our small county. No one knows small random banks like Tim, Tim back, bring Tim back and let's talk with Tim because he always gives us some diamonds in the RAF.Cause he knows all these small little banks. And if you want to talk about buying hold, he buys and holds forever. Tim Melvin. So he'll hold positions for like a day. So he's a holder, so yeah. Yeah. If you want to, yeah, probably. I just wonder what you know, because it's always interesting when you talk to Tim, like how many stocks are on his radar?Like there are some, you know, there was certain times, you know, this is, uh, you don't when we add him on a few years ago, he's like, I got nothing for you guys. You know, the, everything is outrageously priced. And then there were other times where, you know, he had three or four ones there. Some of them are trade by appointment only.Uh, but, uh, yeah. It's uh, do you want to reach out to him? Are you trying to do it today? Spencer? Are you going to try, I'll reach out to them next week, next week. I'm Michael Snyder. I don't know if anyone here came to this is asking for a book recommendation on, on road market rotation or extracting. Yeah.Well, well, we just did a whole webinar on this so I can put the link for there. You can still buy those webinars. They're up on our site. I mean, this is exactly what we were talking about in her Saturday educational event. And I know people want stuff for free is a lot of people there's people that pay for it too.I mean, we put together, you know, a lot, we put a lot of hours into that educational event. So we have to charge for certain things, you know, certain things. Obviously we like doing the show for you guys for free, but when we do these extra educational events, um, we have to continue to charge people like, oh, eventually I'm going to get it for free, but that's not, it's not fair to the people who actually signed up and paid.So I just put the link for there, but this is what we talk about. This is how I make my living is extracting alpha from rotation. So, I mean, we talked about, you know, and we're going to talk about, we're going to have another event coming up on order execution number. I don't think we've announced it yet, but I think what do we have a date set for it?You said we agreed. Yeah, I think, I think December. It's a Saturday, it's going to be on order flow and order execution. So where are we going to dive? Right. Good one. Yeah. We're going to dive into the nitty gritty of how you trading. Like what, how are you putting your orders? What is happening with your orders?You know, how is we're going to put in like how even like, you know, showing how the off exchange market makers make money off your orders and you know, and how you can better advantage yourself for that. But I mean, all this stuff is tied into prop trading and professional trading. So that question that we just got is a fantastic question.And what you're talking about, there are more professional strategies. I mean, and not saying retail, retail can employ these strategies. That's why we're trying to teach you guys some of these different strategies that the professionals are doing, because you can absolutely take advantage of rotation. I mean, we talk about that all the time.We know the TLT and I give this relationship. It's the basic one all the time. When the TLT is down, the banks are up and Hey, look, this one at TLT down a buck, 18, what are the banks? They're all trading higher. So despite the spy being down, which we know is just apple and Amazon, your banks are going to be a source of strength because the TLT is trading down, extracting alpha from those relationships is how I make my living.All right. Let's move on here real quick. Spencer, I'm going to do a screen share here real quick. And I just want to show you guys cause someone asked about, uh, purchasing it. Um, it's still up on the site is still gives the date, but if you just simply go in and register today, boom hit it registered today and it will bring you to do it and it will be automatically emailed to you after you you'll get the actual and you can get both of them.Yeah. So this is a three, just to be clear. Pre-market prep.com. The link is on right now. That's where that is. Preoccupied.Yeah. So if you guys, this was for Benzinga listeners, cause we gave you guys a promotional code. If you want $10 off two you've typed in BZ 10 in that promotional code and get 10 bucks off. Awesome. So the BZ 10 still works too. That's for the Benzinga listener. Okay. So let's move on. Just the sound, all that stuff.Yeah. Yeah. Well, we'll talk more about this as it's closer. Ah, w those of you who were here on Monday, you saw the news about Benzinga, uh, and Berenger capital and the deal there. There's actually other bends in the news today that I'm going to break right now.Benzinga is changing its name to fix.And we're taking the Facebook ticker symbol too. We're taking the Fe. Yes. We're also going to go public with take the ticker symbol FBbreaking news, just from Benzinga is now Facebook. So we were called Facebook now. Benzinga is now Facebook. Facebook is now Metta. That's awesome. I like this new Facebook. Yeah. So yeah. So we're now the pre-market prep sponsored by Facebook. I like that. Yes. So how do we feel about this guys? That's a good name.It's. How do we feel about Facebook running away from there? From, from, I hate it when companies change their names and who calls Google alphabet. Who actually, when we talk Google earnings, does anybody actually, you do, Joel, do you call it alphabet? Actually. Joel and I do. Joel's you do to Spencer? Well, like in the context of earnings.Yeah. I never call it alphabet, dumbest name ever. Alphabet is for my kids. It's not for my portfolio, so I don't know why they changed the name. I don't know why Facebook has changed the name. They don't want to be associated there, all their businesses with Facebook. So what that you do out there? Things everybody's still gonna call your Facebook.Are they changing the ticker symbol too? Yeah, but what is it? They can't change it. The Medica this already taken, they were too slow on it. The ETF got them. They shouldn't buy out that ETF and take the time to go to M V R S. It's going to be December 1st. M V E R S. That's a terrible ticker symbol. Michael Victor.Roger. Simon. Yes. That's horrible. Well, well, M verse metaverse that's not even good. Metta is way better, man. They messed up. They were dropped the ball on that one. Sucker Berg. Cause this Mehta hasn't even been out there. How long has met? I've been out there that has been out there like three months. You couldn't do this three months early and get the medicine ball.Terrible. I hate this even more now that they couldn't get the Metta. Terrible. Could you do a speci? Could you do one more breaking news?run our test. That a world peace is going to be a spokesman for the company. Yes, we have signed her on our tasks. We have signed the person formerly known as metal world. Oh no. They've signed him. That's what you meant. They've signed. Yes. Yes. Sorry. Who was responsible for the malice in the palace? Real fast.That all he was too. I forgot about. What was the fan? He found the fight with the fan. Yes, yes. Yeah. Well, the fan threw a beer, Adam andyeah, that guy is permanently banned from why we can't say the palace anymore, but yeah, that was ugly. So Facebook, obviously, you know, the news out yesterday, they're going all in on the metaverse of virtual reality, augmented reality, changing their name, but that's not the only place. Uh, in the metaverse, there's actually a number of stocks that moved off this news yesterday.And I want to show you all first shout out to Chris catchy who wrote this up in an article and I'll put the link to that article in the chat right now. But if you're unbending a pro, you can also find it without having to rely on me sending you an article. There's the link. If you go into the Crow newsfeed, and you literally, and just like I was messing around yesterday, let me get rid of that filter.I was just messing around yesterday and I thought, let me just do a search for the word, like augmented or augmented reality. What do you augment the reality? Right? Because that's, that's basically, you know, what w what this is right, is augmented reality and look at all the different, and these were the same tickers that Chris mentioned in his article.Look at all the different tickers here that we have that are moving off of this news, like PCI KOP. MTTR. I don't know what these are, actually. I know what my report is, but CSCW, I'd never heard of that before. Right. Moving off it. And look at this one here's Chris's article right there. 5:55 PM yesterday.Boom. Here's the full waste. All these tickers roadblocks. Uh, we, me hologram, um, uh, yeah, VR AR oh great. Ticker for VRA. I remember you can seek catchy on SPACs attack. What time SPACs attack 11 o'clock 11 o'clock catchy is my go-to guy. I may, Mitch's obviously to where they know this backs very well, but anything in that universe, I go to those guys, those guys do the research due diligence with an exclamation mark on it.That's Chris catchy. So there's like a whole, uh, dare I say, a universe of metaphors. Companies that were moving off this news yesterday. Uh, I'm not telling you to go out and buy them. I'm telling you to be aware that there is more than just Facebook here, a blue hat. Uh, there's also the metaverse ETF, which is kind of just a big tech ETF, honestly, but, um, yeah.What are the different metaphors plays here? It is. Uh . Was that one of them on there? Yes, it was. Yeah, that was a Kathy stock. Wasn't it? Yes, it wasn't. Who was he? Like one of the big Cathy names and she just kept loading up. Uh, it's been an ugly one too. She's had Tesla going for, but man, it here's the funny thing with Cathy.You know, you look at the stock and you know, she's still, what, you know, air KK is off 30 per 25% from its highs back from February and look at where Tesla is, which is her biggest holding and Tesla's obviously significantly higher. So it means all of our other holdings have done really well. 'cause she's making a lot of money on Tesla, which is her largest holding and she's lining up, she's selling into the rally.I think it's still our biggest position though. All right. I was saying she's made a lot of money on Tesla and her fund is still underperforming. So a lot of those other picks like boozy, not very good picks so far. Let's let's uh, let's take a look. You've got Facebook here. And for the longest time I had the three 20 to three 40 range.Right. And I was saying, you know, you got to bust above three 40. I get higher prices and popped up there the day before. And then it had three 30 now. So I'm moving this down. I'm saying you don't get giddy about Facebook on the upside until you can clear three 30 and hold it conversely, on the downside here, you know, I know you don't have everything perfect at three 10.But that's the new area. So that's, that's what I'm looking at. The breakthrough, a three, uh, 20 has been a little bit choppy, but right now there's your trading range? Three, 10 to three 30. And I, and when companies start doing things like this, I D it doesn't exude a lot of confidence. I thought, you know, if you got to, you know, change midstream like that, but it's been a great stock for a long time.And let's see if we can hold this three, 10 area. If not, we're looking for 300, the last comment before I bring on our guest today, and this is what I, this is the theory that I posited to Mitch yesterday, I had to close was last year, we saw two stocks run up into news events. On paper meant nothing for the company, right?Apple and Tesla, both splits or stock doesn't change anything about the business, but both stocks ran up into those events. My theory is, or my idea is does Facebook run up into this name? Change December 11. Is that what it said? That's what I said. I don't know this, a name change since December 1st, December 1st, does it's a name change.It means nothing on paper, but that's the idea. I hate the name change. I don't think people view positively as a problem. So that's why I don't know if it affects that. I think it's almost a negative, if anything. And what about social media right now? I mean that Twitter chart, like, well, look what's happened with the social media stocks.Twitter is really getting hit hard. I mean, new lows again yesterday, Pinterest. We know since they not getting bought by PayPal, everybody's getting wasted on that. That is absolutely an ugly chart now. Um, obviously if they come back and, um, rumor materializes that could change in a heartbeat, but not a pretty chart at all, Snapchat has trying to bottom, but it was the one that started this whole thing.So, and then you got Facebook, obviously off their earnings was trying to go higher and then they sold it off. And, you know, yes, we rallied a little bit on this metaverse thing yesterday. There's overall issue here with social media right now. I'm not sure I'm not even a hundred percent. Like I said, with the DWC and Trump doing his thing, that there isn't a few nervous investors saying if Trump gets this thing off the ground, there's a lot of supporters.A lot of people could actually go on that platform. I showed some Twitter, but I'll, I will talk about that after Michelle. Oh, you sold some Twitter. All right. Hey, let's bring on Michelle Krebs, senior analyst at Cox automotive. And let's talk about, uh, I guess there wouldn't be a chip shortage in the metaverse right, Michelle?I don't know about the, that fair enough. Okay, Michelle, we are, I guess we're through the car portion of the earning season here. So recap for us what happened and what each of the individual, the largest automated. Well, we got the Japanese coming in the next two weeks, but, um, we, we have got Tesla started out with, you know, record breaking deliveries, record breaking profits.Uh, and then this past week we've had GM Ford and Stelara does, it was very clear that the, uh, chip shortage, uh, hurt their earnings, uh, and deliveries, uh, GM, but in particular, they, they kind of got a free ride early on, and then they got hit hard in the third quarter. So their profits were down about 40%, um, for less so down about 23%.Now, the interesting thing that's happening is yes, their volumes that they're on, the profits are down, but, um, their average transaction prices are soaring because of the inventory shortages. So what is out there is the really expensive stuff and it's selling it pretty high prices and they've slashed their incentive spending by a lot.So that saves some money there. Okay. So that's just the, yeah, that's a story on Tesla. Uh, what about, you know, w w representing motor city here? GM Ford. Well, that's what I, yeah, I'm sorry. I'm sorry. You're right. You just covered all those. So w w where does that leave us going forward again? Well, we're still in a chip shorted situation, a very tight inventory.The inventory of unsold new vehicles in the U S is, has been for several weeks, uh, under a million. We've never seen those kinds of levels before. I think you'd have to go back to the 1980s, even after the cash for clunkers, that, that sopped up a lot of inventory. It was at 1.4 million. So that was the most recent low.So, and even if we get production plants back up and running fully, we're still going to have a big empty pipeline to fill. So it's going to be awhile. We think the worst is behind us. That seems to be what all the auto companies say. It looks that way in our numbers. Um, but it's, you know, we've got to climb out of this.Do you have any insight as to why Tefillah was able to seemingly circumvent. This chip shortage a little bit better. I don't know exactly. Ah, uh, all right. So a lot less cars though, to Michelle. So that's a number, I mean, when it comparing, you know, 2 million cars that, you know, annualized on Ford and GM versus 200,000, okay, well, you need a lot less chips when he saw 10% of the volume.Right. Right. And, and, you know, uh, the automakers kept building trucks and SUV's where they make a lot of money and then, you know, kind of put the car production on ice. So, yeah. Okay. We've got a question from the chat about Volkswagen. Uh, I know they cut their outlook. Tell us more about, about, about that.Um, well, Volkswagen, um, you know, is going, wants to be an all electric company. Um, but they've got. High cost structure. So, um, and they've had a lot of TripIt, uh, issues, uh, with, uh, chips. They're big Wolfsburg Germany plant as never run this lean, uh, in terms of output. Um, so they're looking to cut costs out of their structure and they're talking about, you know, job loss as it eventually as they transitioned to EVs.Okay. Um, and then I'd be remiss if I didn't ask you about that, that news from w what was it Monday now that their Hertz Tesla deal and also the Hertz, uh, Carvana Uber deal, um, what do you make of. Oh, I think it's really interesting. Um, so Hertz is buying a hundred thousand Teslas. It could end up being more than that possibly through next year, half of those, or even it could be the more, as they're saying this morning are going to be offered to Uber, Uber drivers.Wouldn't be surprised if they added in Lyft drivers at some point because, uh, Hertz has been providing Uber and Lyft drivers with vehicles. Um, and it's a great deal for Tesla because they sell a bunch of vehicles. Uh, they claim it, no discounts. So that's billions in revenue, but also tremendous advertising potential.And, you know, Tesla doesn't spend any money on advertising. So they're going to ride the coattails of Hertz who was just signed on seven times super bowl champion, uh, Tom Brady to be in it's ads. Um, really splashy ads, the campaign. So, you know, Tesla gets the advantage of that without having to pay for it.I'll be honest, Michelle, I didn't realize that Mark Fields was the CEO of her. Oh, that just happened recently, maybe a month ago. Something like that. If you must be all right. Well, I missed it a month ago, apparently. Uh, so you, you spoke to, you spoke to Martin, right? W what did he tell you about, about this deal and like what it hurts?Well, I mean, he, he knit together all these pieces. I, and, you know, they're, so they they're doing the Tesla deal because they believe that electrification is the future. It also, you know, they're coming out of bankruptcy. Uh, it really is a brand differentiator for them. And, you know, they got an early with Tesla because, you know, at some point the, all the rental car companies will start offering, uh, electric vehicles, but they, you know, NAB the first big player first and that's, that will give them an advantage and they may add other makes, uh, as production increases, um, And then the other thing that they're doing is they are, I asked what do you, what happens to these vehicles after they go out of the rental fleet?Because typically they either come to our auctions or they go to, um, they have sales on their own. Um, and the way, uh, Hertz is going to do it is yes, they'll continue to have sales of their own. Um, but they'll also supply Carvana. Uh, so they avoid the wholesale network and, um, uh, Carvana will sell, sell them, have the supply of, uh, Teslas that they can sell, uh, as used, uh, looking ahead here, uh, you know, you mentioned that we're getting re-do for a couple more earnings reports, uh, from, uh, uh, uh, the Asian, uh, the Asian automakers.What are we anything crazy to expect here? Are we expecting more than. Uh, well, you know, I, I think that what we'll see is it wasn't until September, October that really Toyota and Honda got hit Nissan got hit earlier. They closed some plants earlier. Uh, so I think it will be the next quarter that we really see the, the impact on Toyota Honda, but, you know, Toyota has been amazing despite they have the lowest inventories in the business, but they still gain sales and still gain market share.And a lot of it has to do with a very efficient distribution system that I'm, everyone wants to know what the secret sauce is there. Yeah. We're on the line with Michelle Cox at analyst for Cox automotive crabs from Cox part of the cop's family. Sorry, I thought you got fired for that.What about, I mean, we're talking about. And we're talking about GM and we're talking about Tesla, we're talking about Stelara and Toyota, but there are so many other of these smaller companies out there. I mean, are there, is there going to be a, you know, some of these smaller companies going to be acquired, is there, are there going to be eventual winners or are they just all going to go bye-bye and God just it'll lose out to the big boys.There will be winners and I think there'll be losers and we'll have to wait it out to see. Um, and of course there are. Everybody's going after Tesla and I, you know, because you're in Detroit, you've seen the shirts that say everybody versus Detroit, this is everybody versus Tesla. Uh, and so, uh, there, there was a lot of speculation this week that, you know, eventually, uh, Tesla would lose market share and sure it will.It's not going to dominate, you know, it's not going to have 70% of the market forever, but it's not. And everybody's focusing on the big guys, but these little guys are going to take, uh, bites out of it. Lucid, uh, delivers its first vehicle to a customer on this weekend. Uh, Ravion's going public. Um, and you know, there, there there's a lot of action on the ed startup site and not all will winSpencer you're on mute. Hey, I'm on mute. I'm sorry. Uh, it was the Halloween rain. Do you have thoughts on Lucy? Cause they just rocked it up yesterday as they head into deliveries. Do you have anything. Um, you know, we'll see, I, you know, they're producing cars. That's, that's, that's a big plus. A lot of them haven't started producing.Yeah. Shall do you cut? Do you look at Fisk or at all? I mean, some of these smaller companies, um, obviously I've got a long position in Fisker, full disclosure, but I mean, you look at what's happening with Tesla. Um, we are, they do have the deal with magnets. So we are going to start to see Fiskars on the road, probably at the end of 2022.What are your thoughts on Fisker? Yeah, it's, it's a possible contender. It's so hard to know because you don't know all the financials. The other thing that they they're doing is they're, uh, tied with Foxconn to assemble cars, which may happen at the Lordstown plant in Ohio. Um, so a lot going on. I, I don't, I can't predict who's going to win or lose, but, um, why not?You know, I'm not a financial analyst. We know that we know that, uh, one last thing for me, uh, do the infrastructure. I mean, we'd only talk about, uh, you know, got plenty of gas stations out there and they're, they're building more. I mean, w the, you know, is their infrastructure prepared for this many Evie cars coming on?I mean, yeah, you can charge it up in your garage, but you know, for traveling, do you follow any companies in that space? And do you think that the infrastructure is keeping up with the eventual demand? It's not keeping up right now, but, uh, Uh, infrastructure proposal that's pending in Congress has, uh, some money for an EBV infrastructure is about half of what the Biden administration wanted.Um, but that that's key because the number one reason people don't buy EVs is they're worried about the range and the charging infrastructure. If the charging infrastructure were there, the range, which is improving vastly, wouldn't be as big an issue. But yeah, it's the, we gotta have the infrastructure for, uh, Evie adoption.One more thing on the, uh, and the controversy, the self-driving. I mean, it seems that whenever it comes up with Tesla, you know, the, you know, the wording that, you know, they have the disclosures, the protection and everything. Uh, you know, when, when do you see that becoming, you know, more, more common. I don't know about more commonplace, but they've got a battle in Washington on that.So they're, you know, being watched much more closely, uh, as a w how they're positioning it and, um, how it's performing, uh, by the safety regulators in Washington. So that that's certainly something. Michelle Krebs is executive analyst at Cox automotive. Joining us live from Hey, the motor city, just like us, Michelle pleasure.Thanks a lot. Thank you. All right. Uh, Hey Joel, do you want to tell us about Twitter now? Yeah, I'm a little, uh, I'm going to talk with Sean at 9:00 AM on a pre-market prep plus about this. And I've been wanting to sell this for a while. And I kept a little piece, Dennis, so I could do what you do and just,um, and uh, I wanted to do it before the report and I did it. I did it, you know, early after the report. And I just think this, this whole social media space is just, you know, it's ran its course. I think there's competent. I mean, originally Dennis, when you mentioned, uh, uh, you know, about the Trump thing, whether or not that comes into fruition, I really don't know.Um, a talk with another buddy of mine that has been involved in, uh, it's own Facebook for a long time. And he was just like, these stocks have run its course. And I just thought I'd ring the register and uh, you know, yeah. From under 20 and, you know, whatever, I didn't get the greatest price of getting out by dog.Got a little piece and maybe get a little bit back by on the rebound. But rear we are going down hard here, right? Oil is getting hit. Gold is getting hit. Um, you're seeing movement. Um, obviously there's still some stocks holding up. We know there's going to be some stock screen. The financials are holding up very well, but I mean, gold has just turned around and is starting to get really slammed here.We were about flat when we started the show. We're now down to 20 bucks. If you're looking at the futures are two bucks on GLD. So, um, but it's not only that oil is really rolling over here too. So got the USO going down. Yeah. W we had some oil earnings, uh, those are holding up, but the oil itself, the commodity itself is gone.It's not holding up nearly as well. Yeah. This is interesting. We'll get a lot of stocks that are starting to go red here. So not just technology companies with apple, but we're seeing a few other stocks too. An IWM has went red too. It was holding up fairly well. Now I'd at me. I'm starting to go pretty heavy right here too.So you're starting to see a little bit more nervousness here. I don't why this is what I would have expected last night off the apple and Amazon, and, you know, instill, obviously we're not down far from where we just were, but we've been saying, you know, that's a piece of holding up very well and they still are.Obviously Amazon has leaked a little bit more four and a half percent and apples leaked a little bit more as well. Both stocks still hold the spies to holding up fairly well. Considering the majority of the, of the loss and spa is apple and Amazon. So it's interesting. I don't know if you're going to see as much rotation.I don't know if we're going to see in everything sell off, but we're starting to turn in. We're seeing clear rotation an hour ago, and now we're starting to see clear selling in a lot of sectors. Like I said, steals, holding up. Well, caterpillar got an upgrade. I believe let's talk about steel. Cause we had us steel us steel report last night.Uh, the earnings were good and the sales were good. They both beat as much. But on top of that, it's just like, you know, kitchen sink is what they threw at us. They did a $300 million buyback and they're raising their dividend from a penny to 5 cents a share. So going in the right direction there. So beat.Buyback dividend raise. You see how much money they obviously don't think it's going to last. We know there's nothing more cyclical than, than some of these commodities. Let me $5 and 36 cents. Yep. You've still made $5 and 36 cents and I'm a spinner tweeted it out and I'm not sure I retweeted it. I'm not sure if it's accurate, but they said us steel made almost, almost as much money as Amazon on the bottom line.Not sales, obviously, but on the bottom line, I didn't even notice that. I don't know if that's right or not. Can we go on and actually verify that you in the background verify that made $5.96 billion in overall revenue? Well, not revenue. You got to look at the bottom line revenue. Won't compare Amazon's revenues off.The charts are the same bottom line. Okay. So bottom line. Let me, let me, let me look in the background. They just got to go look in the background there, but spinner great stat. I retweeted it. I know it's been her does his homework. So he's probably right, but I mean, Just going to show you how much money us deal on some of these commodities companies are making right now.Now this is a cyclical business. And what does that mean? It means don't expect them to continue to make $5 a share every quarter. Because obviously if that was the case, that things train with a P of like two, we know these are, you know, these is not going to last. It's a cyclical business. They'll get to times where they're actually not making money.Their earnings go like this much, like, you know, microns, a cyclical business, certain ones that their earnings just fluctuate like that. But right now, holy crap, they're baking so much money. I'm blown away by those numbers and know I'm not long. Somebody asked me if I was long ago, I did check. I had you as steel in there for a bet.I had sold it. I had bought Cleveland cliffs instead. I'm knowing new. And my Cleveland cliffs, I sold the CLF. I sold for the simple reason I bought it 20 about a month ago around maybe it wasn't even 19, 19 and a half 20. And it got back up to that major resistance, the August highs, and it's looking like it's struggling there.So I did sell my Cleveland cliffs. I'm holding my new core. I've had new core for 10 years. I don't tend to sell out at all Cleveland cliffs, come back down to the 20 area. I'll rebuy it. I'm playing that range. All right. Uh, us still we're treating it. The highs of the pre-market session a week and just reached, uh, 25 82.Now we have a bit up in this area in a while that does coincide very nicely with a 25 79 high. So you want to see this thing open up here, make a charge, and you want to see it. Test this double top here at 26 in a 26 handle 26 32 when 26 43. I mean two highs in the same area after it was at $23 yesterday.So I would just, this one use want to keep laying out those offers, you know, probably with bigger size. I think it will turn. I mean, you have a pretty good sell off on this. A lot of people are sitting on a pretty good profits, you know, I don't think you'll come anywhere near the top of the range from yesterday, but to start this $26, I don't even know if there's anything in the book at 26, but you want to see strong fall through the pre.Yeah, a us steel made like almost as much. It wasn't like incredible. It was almost it. So what were the numbers? Do you have them well, yeah, if you look at net income, it was like 3 billion for Amazon and two and change for us steel and some credible on a per share basis. It was five, $5 and change for us deal and like $6 and change for just giving you perspective, uh, how much money USD on some of these commodity companies are making right now.And I mean, obviously we don't look at the bottom line. They look at, you know, what you know is sustainable in the long run. And we know Amazon has always invested back in themselves and probably can make even more money. Uh, but you know, they obviously invest back in their own company a lot too, but I mean, wow, our us steel and some of these commodity companies, I'm making so much money right now.Some of the lumber stocks, like I talked about the cam four that I own and Canada, I mean, these things are just printing money right now. I don't know. But then obviously can't for a, and then it's probably from the quarter before they were doing better, they had supply issues too. I believe there is some other issues hitting some, some other companies as well, but incredible amount of money from these commodity companies.All right. We, we haven't gotten to any tickers from the chat yet. I suppose. It's time to go. Suppose we can do a couple. I'm trying to scroll through here and see what we got. Uh, someone, someone dropping, some, some EVs in there. I saw QR scan to get mentioned. Uh, someone just asks about another one that is kind of a high flyer.Um, let me go here. Maybe trade on the smaller names and maybe it's lucid that's really, you know, picked up the steam on some of the smaller names. We load no loose and had a huge breakout there yesterday. And he saw a Fisker getting a big pop. You saw a lot of these other Evie names, really getting a pop, even ride showed some life ride, never shows life, but it showed a little bit of life there yesterday.Um, I don't know if that continues or not. It's right now. It's the thing. I mean, anything to do with Evie, you know, with the lithium plays that we've owned for awhile, LTH M Lac. Um, I still got both of those. They've been unbelievable. The both making highs like. I don't know if that's, you know, I don't know if it's sustainable, I'll just say it.But right now the trade is high. All right. We can look at Starbucks. Someone's asking about that. Cause they did a report last night and they gave guidance on the conference call. So the EPS beat by a penny of the sales, uh, more, it was a slight miss, more or less in line. They gave guidance. Like I said, on the conference call, they gave, uh, uh, fiscal year, uh, sales guidance of a range, the high $32 billion range, which is around where the street was expecting.Um, I got spooked here to this one after the, the eat report. So I sold my Starbucks and like I'm. You know what I'm going to let you guys finish up here. I got this wig off and die. I see what I missed a lot of symbols here. I got to look presentable for pre-market prep plot. Catch up with you guys later on everybody pre market prep, thoughts on Starbucks, Dan and I was nervous.The same thing I said on the show that day with eat. I'd be nervous on a stock like Starbucks too. For the simple reason, I don't want to own anything with that has significant wage inflation labor shortages right now. And I got to think, you know, we know McDonald's figured it out, but that's hitting, you know, probably from both sides, the restaurant industry, Starbucks, isn't a coffee shop, but kind of in there, I mean that industry right now is getting hit from both sides because the food costs are going up and their labor costs are going up.And the demand is sure is. But they're getting hit from both sides. It's not where I want to be. It is not, you know, those are not businesses that do well in inflationary periods. All right. I think if there was any show this week that earned your hard earned, like, uh, it was this one, the spooky edition, the spooky edition.Come on show some spirit guys hit that like button just to below 300 likes right now reminder. We're good. Uh, I think we're going to announce the Benzinga pro giveaway on our next show on live training with Benzinga this we're giving away a prize that has nothing to do with Benzinga. It is not even using a product is not evincing a service.It is, um, something of real value, something that w w you know, we got permission to give this away. We had to ask for it. Um, it, it, you know, we couldn't just decide ourselves cause it, you know, it's above the threshold. So we are going to give away. This mystery prize to a random Benzinga pro today, we're going to announce what the prize is and how to enter the giveaway on live training with Benzinger, which is right after we wrap up here.So that being said, please remember that all the information from our show is meant to be used as informational purposes and not for investing or trading advice. Thanks to our guests today. Michelle Krebs, thanks to all of you in the chat. Even the people who don't have any Halloween spirit that's okay.And, uh, hit that like button for us, please. And thank you. Live training coming up right now, Dennis, have a great rest of your day. Have fun triggered trading. I want to hear stories on Monday about how events are pumped, how eventful it was for you. Cause I don't think you did it last year, right? So, um, actually we did, we did trick or treat last year, the COVID trick or treating where they're all messed up.I want a good story. On Monday. Okay. Sounds good. Okay. There's your weekend. Everyone have a good weekend, Dennis, have a good weekend. Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Watch The Benzinga Global Small Cap Conference live hereEpisode Summary: Earnings bonanza! F, TWLO, EBAY, SHOPQ3 GDPBerkshire2 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:What's up everybody. Good morning. Happy Thursday. We got a lot going on today. It is earnings ball. Nan's uh, we got like 250 earnings reports. We're going to try to cover as many of them as we can. We're going to try to go quick and get through. We're going to rip 'em we're going to rip them. Right? We got some big ones here.Let's get this show on the road and 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 vowel tile puppy here. Isn't it. And Dennis Dick I've been the petty. I will buy the stock per pet with everything that you need to start your trading debt.All right. Good morning. Good morning. I'm wondering we were at a fast market, ladies and gentlemen, Spencer Israel, Dennis take Joel is out today. He'll be back tomorrow. I promise. But you got two thirds of the crew and that's good enough. So, uh, we've got a lot going on here. Let me quickly run through the markets this morning.Um, the S and P 500 were up about a quarter percent, nothing really, too crazy going on. Actually, the NASDAQ is, this is weird though, to me, cause they, if you look at the QS, we're up a half a percent this morning, but then a slide we're going to talk about this because it does seem like just anecdotally, every single tech stock reporting earnings is down this morning.So we're talking about, uh, accused of talking about, or the Russell is trading higher as well. Uh, about a third of a percent. We got Bitcoin trading higher by 3%. Nice to see maybe Dennis, we should just, um, not wait. There we go. Maybe we should just not buy. What'd you just heard this show into a, into a crypto show?I think because it's just way more fun right now, frankly. Um, and th the meme coins is just the stock market is so boring. Well, it depends what you're trading, I guess, you know, some of these spec stocks, like the DWC last week, we had some pretty good excitement. I don't know if I'd call the stock market boring, but I guess when you compare it to crypto, it is kind of, you compare it to what's going on with like, she live on like, yeah.When you, when you compare it to shipping, you knew it's, it's like a, it's a snooze. I don't even know his ship. I see it all littered through the timeline on Twitter. They're all saying ship this and ship that. And I have no idea what should be. It's a derivative meme. It's a meme derivative. It's a derivative of another meme.Okay. So what is it, what does it mean when somebody is telling me to ship? Tell me to buy, to buy. What has she been eating? I don't know. It's, it's a, it's a crypto. It's a meme coin. It's a meme of a meme. So those coin was Korea as a joke, right. A ship created as a joke too. It's it's a, it's a derivative of the, that's a pretty good, good, um, dog money following.So is this, so it's something to do with doge. It's got nothing to do with it. It's just, it's it's based off the joke of, I cannot keep track of all these joke coins. I know, I know. I know. Look at the shame has passed OCE and market cap. Igor says yes. Yeah, that happened. Um, there was a, a few that's what happens when money is meaningless and the fed just prints money into an infinity here.Bring it back to the fed. Yeah, it does. It really, it really lifts the feds responsible for doge coin and ship and everything because people have real money to put into this kind of. I've no idea. I don't think it ends well, but Chev, whatever it is. Yeah. She knew. Yeah. Um, based. So basically, and crazy thing is like, if the prices it's, it's out these decimal points anyway.So somebody apparently bought like eight grand worth of Chibi new a year ago. Now they're now they're a billionaire. So congratulations to them. I suppose, got to find the next ship. I guess maybe I should be distressed Dennis. That's the game we are in. You know what? This is, this is like, these are the penny stocks of crypto and we're in like a penny stock crypto mania right now.You know, that, that's what it is. So, um, in 1999, we're partying like it's 1999. And wait, is there a house? Is there a music. Mitch. Yeah. Somebody says this music playingwhat's going on.Going on. I took it off already. What are you doing to us? Match? It's the music you're playing on funny, but what is it? I apologize. Um, well you can't hear it cause it was on the computer desktop audio. So no more music like, oh my gosh. Okay. Anyway, we're going to cut Mitch today. Wasted three minutes on music and ship.I'm moving on. We have 1000 earnings reports to talk about. We've got to get going. Boom, boom, boom. Let's go. Let's talk. Oh, wait, I start with w w w we're going to start with that, but real fast, uh, just as a PSA, we talked about Berkshire Hathaway. Another one, there was another one last night after hours, there was one share of Berkshire Hathaway class, a trade at 5,500, $4,000.Somebody threw 70 grand away. Yes. All right. Again, you're not listening to the show one don't trade burka. It's too thin. Definitely don't trade burka after hours. It's way too thin. After hours is 10 times more thin. Third thing is don't just lift offers when you don't know where the stock closed. If you're going to let the offer look, we're closed first, don't buy a mutual fund, which is basically what Berkshire Hathaway is.It's a fund don't buy a fund up 20%. Don't buy a fund $70,000. And that's a quick way to throw away $70,000. So we had this discussion yesterday. If you want to listen to the discussion on Burke dot EY, you can rewind the show to yesterday morning. Alright, let's, let's bring into earnings and we'll go to Ford here.We should probably start with that. Uh, this was nothing short of just, uh, a blowout quarter for Forbes, other EPS beat their sales beat, but we, we care less about that than we do about a, the guidance res and, and then B the dividend reinstatement. That's huge. Remember Ford used to have a 15, um, uh, 15 cent per share dividend that they suspended and they are reinstating a 10 cent per share dividend huge 2.39% yield, all of a sudden getting paid.Now, if we're following the inflation, the fed is giving us that would actually beat inflation, but we know that's not true. Um, I'm pretty excited. I'm still logging my Ford. I did sell my GM, you know, that I said that yesterday I was nervous under the report, but I held the Fort. So I picked the right one for once.Usually I pick the wrong one, but I picked the right one, somebody in the chat. Oh, it was like on Monday or Tuesday. I think he was in the ethic clothes they had. They had, I think they had calls on Ford, I think. Um, nice. Whoever that was. I think I remembering that right? Whoever that was congratulations to you.Cause this was a blow out quarter. They just crushed it again. Earnings, beat guidance, res dividend reinstatement, nothing bad about any. It's a big move for Ford. Let's see what it does at 1670. That is the high from six days ago. That's what you have to contend with. Can it get up and above there? And then what you do is you go in the quarter cent, are you going in the 50 cent increments for Ford?Once you start making new highs on the move? Obviously, if I go and open my book right now, which I can do, you're probably going to have a boat load of stock at 17 because it hasn't been there for basically a decade. It's been a long time since four, it's been up at 17. So it's probably some GTC good till canceled center.Aren't there. It's lettered 16, 50 has 117,000 shares. There are again, the bomb's already 4.2 mil and Trey last night, too. So it can blow through all that. I would say seventeens, your next major point of resistance. If you can get through the recent highest 1670, and if you're wondering, well, what about the chip shortage?That don't worry that they talked about that. And the summary of that is, yeah, we are not as exposed as GM for whatever. So, and he always wanted to be the second one. So once he, no one says something with the chip shortage and you hear it the second time, it doesn't feel as bad. So if you're, if you're, if you're two companies that are very similar and you're gathering into a cycle that, you know, it's been struggling to a certain extent, right?If I ship shortages, you always want to be the second report. So GM, obviously the GM report was fine, but they hit it down. Then they lower the expectations for Ford and Ford beats. Those expectations easily. Obviously the reinstatement that dividend helps as well. And we move up. So again, your level 1670 on Ford next stock.Uh, yeah, again, I mean, I'm wearing a monthly chart here, so we're at, we're at a frickin seven. Yeah. But there is a major resistance up here, major resistance. So I don't like buying stocks at major resistance, 2015 on 2015. Let's move on here. Uh, well, let's go over to technology because there's a lot of tech reports and.Th it seems like they're all down this morning. Maybe we should start with Shopify because they reported, they reported this morning. Let me go to not a monthly chart here. Uh, a intraday chart of Shopify. Um, and it's kind of the same thing that we've been seeing for like a couple quarters now. Right? Uh, the, the, everything was down year over year, right.I forget what the estimates were. They were down year over year and that's what the market is going to. It's the same thing that happened in Robin hood yesterday. Right. It's down quarter over quarter and Shopify down year over year. So even though they, uh, it actually, I don't think it was really that bad.Um, they, you know, they, you know, their sales are still growing. Everything is still growing. They're just growing at a lesser, lesser pace than they were last year for obvious reasons. And it's sort of a victim of their own success. And this is the problem. That's the hurdle to get over because expectations obviously so high when you know, you're trading at sky high multiples.So, and that's really the theme here is I don't wouldn't call it, but you definitely are seeing clear rotation here today. Um, not so much to the growth, the tech stuff besides Tesla, which, you know, has its own animal, which we'll get to in a second. Piper, I think is the one that's moving at this morning.Um, but you know, you look at arc arc is down here this morning, so that's a good indicator for growth tech. We know you're moving into a value market Berkshire. Hathaway's not a bad indicator there. Um, so going back to Shopify expectations, sustain our really high. Obviously it did sell off into the report.So you do have major support down here at 1285. It is a still loved stock. So I think at a certain point in time, it finds buyers again, but nosebleed multiples, you better blow it away. And that was not a blow away. No, no. And again, it's not really their fault. You can't say here right from the pro and you can show it.You can't say this. If you're a growth stop, Shopify sees 21 sales growth rapidly, but at a lower rate than 2020, that is not what you want to say. You don't say that when you're trading those bleed multiples, they want to see at least keeping up with the pace because people played nosebleeds multiples for super high growth.The growth is going to start slow. Then that is going to turn off the grill. I understand why like investors hate that, but like I paid that, but you had to know that this way, like everyone knew this was coming, it's not Shopify is fault that they, they fell backwards into a pandemic and benefit of their business.Like no one had ever seen before. I mean, we all knew that that wasn't sustainable. So, so I don't know. I guess it's kind of the Robin hood thing. Same thing. I hate this as much as it was the same thing with the Robin hood though yesterday, you know, that bounce up in the crypto acceleration because it wasn't sustainable as well.So when we saw that, so I mean, investors now adjusting their expectations to a certain extent is Shopify still loved stock? Yeah. I don't think it's going. I don't, but again, you know, you got one level here at 1285. That's the level. If it takes that. I don't like to buy stocks, making new lows on mood because it takes a 1285.Then you start thinking about 1200. So you need to hold a 1285. If you're going to start to try to buy the dip today, or if you stay in bullish, always, if you're buying the dip, you want a level, you want an out. And I would say, if you are buying the dip and I'm not buying the debt, but if you were, do you want that to hold at 1285?Right? I'm moving over to eBay here, game hammered this morning. Uh, kind of the same story. They actually, the EPS was fine. It wasn't in wine and beat by a penny sales came in higher as well. Uh, guidance was in wine. It was okay. Sales guidance. Okay. Uh, they also boosted their buyback by a few billion dollars, which is something, I guess they boosted it from 2 billion to 7 billion.Um, I'm sorry. They boosted it from five to seven. They boost it by $2 billion. Excuse me. From five to seven. Um, in any case, it doesn't matter. None of that matters because you know, pandemic tailwinds going over. I think I don't. I mean, that's what that's to say. It's the same thing somewhat. Um, one thing to consider is that eBay is a lot more of a value stock than a stock like Shopify.I mean, where are we trading? You know, if you're, you know, 90 cents, they made the core of their estimate, next quarter of Bach could just say, they can make four bucks next year is that, you know, a possibility to say that they make four bucks. So if you're looking at it that way, the stock is actually trading with the P of like 19, which is under a, a multiple.And you know what I also like about eBay too, is the fact that. You're you're buying a lot of different stuff from a lot of different people, supply chain issues, you know, I don't know how much that comes into play as much as if it's, you know, you're selling all new products. So I kind of don't mind the eBay here.I think I would be a buyer. The tip on eBay. I don't know levels wise. It's a little bit slippery slope because you've taken out the 73 89 law and then there's nothing in there till 70. I, I love 70. I just don't think it gets all the way down to 70. I just crashed my, my whole browser. My browser. Can you hear me still?Yes. Okay. The show stayed on, but all of my browsers just crashed. Maybe it's time for a new PC. Uh, yeah, you, you find open them up. I was actually opening it up just to get some fundamental analysis here on eBay for you guys and it crashed. Oh, okay. Well, Jumping in, but anyways with you here. Okay. I didn't get the P I think the P and I've lost the chat to, I got you.I got the eBay PE it's funny. We were talking about how was his number even still relevant for PN eBay's 18. The stock is not expensive. The stock is not expensive. The growth is still kind of there. Trillin P 23. So for P 18, yeah. It's not expensive. I'd be a buyer of this dip. I don't know where, you know, what is expensive, uh, is Teladoc KDOC.They also report earnings last night. And it's exact same story as Shopify. The earnings, you know, are what they are. The EPS came in above estimates and sales came in above estimates. Uh, their outlook though was again, Y th th the, the growth rates, the same thing, the growth rate is slowing. So even though they came in about the estimates for this quarter, people queue all they do.They, they, they, they see year over year. And they see the growth rate declining. Yeah. And that's what they hang their hat on. And it is what it is. Unfortunately, it's just, yeah, but that's what they have to hang their hat on because that's what they're buying it on. You're right. So when you're paying those bleed multiples, you need to see nose bleed growth rates, and you can't see those growth rates start to slow.So Teladoc is the same story. We know this benefited one is that Tesla chart we're looking at and we know this benefited actually. Sorry, sorry. My browser. I was an advertisement that was on the YouTube thing. So I'm looking at an advertisement. I'm like, where is the Teladoc shirt? I was like, I don't see Tesla.Yeah, it was the ad. So no it's been multiple. We know Teladoc, same thing, zoom, Peloton, all benefit from accelerated sales during the pandemic. And that is not happening. As much of those growth rates are slowing as Teladoc by at a certain point in time. I think so where that point in time is, is the question.I mean one 20, my buying the dip on it today. I dunno. I put zoom, Peloton, Teladoc, all in the same boat. Peloton started breaking down again yesterday. So here's a reversal for you, a PTO N 99, 36 touches two days ago, and then just loses 10 points and literally 10 hours of trading. So you can see. It's turned like the sentiment towards these stocks have turned because these are seen as those stay at home plays and people, you know, whether you want to, you know, whether you're with COVID or not COVID or whatever people are reopening and doing more things, there's just no doubt about it.And these stocks, Peloton, zoom, and Teladoc are all seen as COVID plays, even though they're their own companies, even though they do have other revenue. And even though they're not totally dependent on COVID and they will find themselves right now, they're just grouped together. It's COVID plays and there's a lot of people stuck in these things and they're using every ride a Sal Peloton was sold to.So it's tough to be a debt buyer in the stocks, which are in clear downtrends for the last eight months. I mean, Teladoc the $308 now 138 bucks. Is it overdone to the south side, maybe, but maybe it was way overdone to the buy side. I mean, when you started 2020, the stock was like 50, 60 bucks. I th I do think it's a buyer at a certain point in time, and this truck's important for everyone, you know, buying and making money off of, you know, names like de whack.That's all great. And, and we, we can all joke about how easy it is and fundamentals don't matter because like on the T on the Teladoc, they didn't matter, right. Until they did matter again in the spring or in February and March, right in April. Um, and really every month since then. So this is the other side of that coin is once funded one to turns and the fundamentals do matter again, once we, once the story cools off.So this is an important, an important chart. I think getting multiple people that actually liked the charts here, and you know why I think they like it. It's maybe it doesn't look as good, but it's one chart. Joel's got the four charts system going. I've never liked the four charts system, but the chat, when we voted on this, like three months ago said, no, we liked the fortunate.So, I don't know what you people or whatever. I shouldn't say you people, that's a Don shirt. You don't say you people, you never say you people, but I meant like, people like everyone, not, you know, selective people. What do you mean? So you traders out there. Do you like the one chart system or do you like the four charts system when you're looking at our charts here?So Joel uses trade station I'm using, but he can put one chart on the trade station. Yeah. Okay. So here we go. If you want one chart, put one. If you like four charts, put four and we're going to do a vote and here we go there they're beating us to no, no, no, no, no, no, no, no, no. We're not. We're not doing it this way.I'm going to put a survey in. Oh my gosh. There's a lot of fours. I'm not counting. I'm not counting a lot of fours. I am putting a survey in the chat, right? Okay. That's that's what I'm going to do. I'm going to go on YouTube or one of the chats. It can, somebody wants a sex charge. I know. No, the fours are by far winning.Joel's right. Joel's right. Again, man. The key here I think would be to use one chart, but change the charts. Show a daily, a weekly and maybe an inch a day. They're all going to be two options, one or four, and I'm putting it in there. It's at, there's a lot of fours in the chat I'm answering the four. I'm putting one, but I mean, that's a lot of fours in there.So put, watch a, like the forest are winning so far. That's fine. That has already been set at 72 votes in literally seven seconds. And it's four 75%. So 116 votes. Now I'm going to stop the count and stop the count. I'll keep it going. We got to get a go with more than 10 seconds. I'm joking. I'm joking. We give them 10 seconds about these people vote, man.We got people that vote. They come out to our polls here. We have to worry about our people. They vote. Jack keeps saying people they're telling me. I had even a text from my buddy. Mike said, don't say you people. Well, what do you mean? I lost? Do you know the story? We had Don cherry lost his job on hockey.And I can't. Cause he said you people either. You can't say you people, you, people, you traders, we can say, okay, All right, so we'll keep an eye out. Would it be, you know, against the non traders? So you shouldn't say that either. Well, we'll keep an eye on the point and got ourselves in trouble here. I don't want to attack racks at Twilio.Uh, again, actually, this will be interesting because it means you mean on this chart. So this is at a 15 minutes chart there, uh, EPS beat sales beat, but guidance was a light Q4 adjusted EPS guidance. They gave a range that they would have lose between 23 and 26 cents per share. First estimate is that that they would only lose 7 cents per share, uh, sales guidance w w actually came into higher.So a bit of a mixed guidance there. Uh, they have a new COO or CEO resigned. Um, and this is a once in favor story that is. Nose bleed multiples have to have nose bleed growth rates at those growth rates slow. This is what ochres Twilio down. 15% here. Is it over done? Maybe you do have a level 2 75 60 May 14th, 2021 low.That would be your 52 week low. If it gets all the way down there, I'm not sure it's going to get all the way down. But there's probably some support. If you got down to the 2 75 area, 2 91, maybe early, maybe the nose bleed multiples, come back in a favor, but we've got a theme going on here this morning and it's not buying those bleed multiple stocks.So either that theme has to quickly change here or danger will Robinson. At some point here, I'll just do a, uh, account to see how many stocks topped out in February, because it just seemed like a lot of like the average stock a month ago when we were down like 4% of the S and P the average that the median stock was down 28%.So not the average, the median stock was down 28% crazy. So like where they were saying we're ever going to get a correction we ever gonna get. What are you looking at? You looking at the wrong stocks because median stock means the majority, you know, not the mature, but the average stock down 28%, 28%, we were down four or five.We know why spy has held up. It is because of mega cap tech, Microsoft, huge component, making new, all time highs, blasting off into orbit. Obviously Facebook is sold off, but apple is still up near the highs. We're going to get apple earnings tonight. Yes. I'm still nervous about them. Yes. I intend to hedge a little bit, please.Don't be nervous. I'm nervous. You're telling me not to be nervous. I'm nervous. I've said it. I've said it multiple times. You know, I'm nervous on the apple report. I do intend to put on an options hedge just to get through the report. Okay. All right. That's I haven't figured out the way yet though. I might just sell a call spread or something because I don't like buying premium.And I'm of the opinion that I don't think the apple story is over here. Otherwise I would flat out buy putts, but I think. The difficulty for me getting an iPhone. I think there's a lot of the people have difficulty getting, I think their numbers, their expectations might be low, but I don't think they're as low as the apple might show here tonight.I'm nervous. All right. W w w we spent the whole morning talking about stocks that are down. Let's talk, except for Ford. Let's talk about stocks that are up, but let's go to lending club. This is your big winner of the day. So far, LLC. Remember that they, uh, actually let's stay on this chart because this is the daily, uh, that right there, that, that earnings report in, in the summer that was like their coming out party.Like, Hey, we've changed our business. We've changed our business model. This it's happening again now, because look what happened, you know, bring it up a internet chart for this morning. Um, we're going to happen last night, their EPS 26 cents versus a 3 cent estimate sales of 2 46, first two $21 million.But their guidance though, their guidance for, um, fiscal year sales was around 800 million versus 772 million estimate. And their loan originations guidance was well higher as well. Um, so this is a company that is. Whenever they, they, they changed. It's working for them when inflation increases to the levels that we're seeing, people got more and more money.No, no, I think so. Yeah. I think your average person needs to borrow more money to be chasing. I know right now, you know, like if you're going through and you know, you're doing a build, for instance, he might be powered more money, might be costing you more money. You know, things are costing more money. So average housing price in Ontario year over year, up 27%.That's one of the biggest things you're going to use, obviously when you're borrowing cash. So if you're going to continue to see rising prices, if you believe in inflation lenders, isn't a bad idea. It isn't a bad business to, uh, head yourself with. So, um, I'm not chasing, I'll see up 31% here this morning.Uh, but you know, I, to fall back, I, I liked the banks better, but anyways, I'll see. Um, uh, I get it. I get it. This thing was, it's going to a monthly. Well at this monthly chart. Oh my gosh, it's gone. This thing was supposed to be going out of business back and I'll kill four bucks, $4 a year ago. It was $4 a year ago was $140 back in 2015.So we still have a long ways to go back to those levels. But you know what? I'm pull backs. I like lending club too. I'm a fan. Wow. Wow. Pretty wild stuff. Okay. Um, we're going to be like lenders right now. We are going to all kinds of lenders, lending clubs, lending banks, lending sharks. We like our lenders right now.I don't know the last one. Hey, real fast. It's 8 27. I don't want to lose track of the clock. Uh, at eight 30, we're gonna get Q3 GDP. This is our first estimate. Remember we get, um, one estimate that we get one estimate and then we get a revision revised estimate every month. So I got to go wide. Um, short is, you know, behind the, the, the, the jobs number GDP is probably.The most important economic data point that we have are the expectations is, um, is that growth slowed economic growth slowed last quarter. Um, remember we're coming off a massive upswing in GDP coming from the COVID lows and, and, uh, GDP grew 6.7% in Q2 on an annualized basis. And the expectations are that GDP would, uh, uh, only grew 2.7% in Q3.So we're looking at a sequential decline, um, whether you want to blame the Delta variant, whether you want to blame just a, a norm of is that, you know, we're in like this like zigzag, and it's got to normalize a little bit. What do you want to blame that? Um, but the, the estimate here is for a slow slowing growth in Q3 compared to Q2, um, We'll see what the numbers are.We're going to get them in like a minute and a half here. So maybe go a little wide GDP, like pre COVID was not a data point that really would move the market all that much. But, uh, when we bring it up, like, I don't think it's, I'm not going wide. If I get picked off. Congratulations. High-frequency trader.Okay. Okay. Well, let's see. Yeah, I'll I'll, I'll read you the number as it comes, actually. You know what? We never do this. Let's do this right now. I'm going to turn on the squawk right now and we're going to have Charles Charles live. Charles. We love Charles. My squad can't work. Now you got to refresh yourUh, it likes to refresh every two days. If I can do it in time, then I went there. It is. Um, I just turned off Victor. We'll all be quiet. We're listening to Charles. Does he know we're listening? No, he does not. So even now sensing issuance of new device and methods patent in the U S that the Victor in the victory squawk, he will squawk GDP when it comes in like 30, 40, um, sparks all the news as it breaks.So I always listen to Charles when I'm not listening to our show. I'm listening to Charles. Charles is the man. Yeah. Charles wakes up at like four o'clock in the morning. He does he wait. He's online at four 30 or five. And he's online until five, basically. He's 12 hours. Okay. It's not worth it to do another exercise because we're going to get GDP right now.So we might as well just wait here. I'll, I'll pull up a chart and we might as well just wait. W w what does it? We're 30 cents wide on spy. We're waiting for Charles to talk. Oh, now we're only 5 cent wide that's by, so it must be a nothing burger. I'm calling nothing burger. How are you? Charles? Charles says nothing burger to cause he's saying nothing.He's lurking is lurking in the background. Yes. Yes. Darren, you're listening to, Benzinga listening to, Benzing a correct. Listen to fencing. We haven't moved to nickel. This is a big nothing burger so far. Well, I don't even know what the numbers out there waiting on it. Q3. They're just talking at the start and to get it through GDP, Eric go 2.2%.2% growth annualized in Q2 versus 2.7% estimate. So, okay. It came in a little bit below where we thought came in a little below where we thought here, I'm just going to mute Charles. Cause I beat him to the punch. Okay, sorry, Charles, sorry, Charleston. No, he would have squawked the GDP for us. Maybe he doesn't even care.I think that's it. He sees spy move for cents. He's like, I'm not even bothering saying, hold up, hold that build up for nine. I'll see. I told you, I didn't know to go. Why it didn't move. We literally did not move. Okay. Let's move on. Sorry everyone. I thought it, I thought it could be something and it wasn't nothing.When I go wide people saying what it mean when it go wide. Okay. So basically if you're a market maker and I'm not a market maker anymore, but I have some orders out there. So market makers will be tight quoting like this. And when there's news coming, they back their quotes off so that they don't get picked off by another informed trader.So what they do is when I say go wide, as they move their bids and their offers out a little bit. So if you're bidding 25 to 25 0 5, maybe about 24, 75 to 25, 25. That's what I mean by go wide. So it's a little bit of a joke because I'm not a market maker, but I do have orders. So sometimes I will cancel all my orders, like floating orders when I'm trying to work out of, you know, some of my arbitrage trades or some of my different trades, maybe there's a news trade, you know, I, you know, I like do TLT versus the banks and I do all kinds of other, uh, funky trades, stat herb stuff.So when they say go wide, it just means move my orders out a little bit. So I don't get picked off by that high frequency trade higher. All right, let's go to, let's go away from tech here and let's go to the caterpillar here. Cause cats trading. Yeah. Cats, cats looking good this morning. It's a value day.It very well might be the EPS came in higher. Let me pull up a chart here. Uh that's by, but, uh, cat EPS $2 and 66 cents to $2 and 20 cent estimate golf, a woman, a sales 12.4 for 12.4, 8 billion. So a little bit light on in sales, but a nice, uh, earnings per share beat, uh, for the cat. And yeah, like you said today very well might be a, it might be a value day.All right. So. Yeah, I've seen value days before. It feels like a value day. And speaking of value, what about Merck this morning? You saw it. You saw that one, right? Okay. That's good for me. Long-term portfolios happy about that one. It's been absolutely hammered and Lockheed Martin and Intel, but it likes Merck, Merck, EPS, beat sales beat, and then strong guidance.And then they're going to like double down on their, uh, their COVID, uh, pale their antiviral pill going all in on COVID pills. Yeah. Yeah. So if you bought Merck, let me zoom in on this. If you bought Merck, uh, you know, like a month ago, you know, you just had the biggest as big and move as you would have had in the previous.Um, I don't know that print is wrong, but in the previous several months, it was my point. This Merck has for Merck. The last month has been. For Merck, this is a slow stodgy stock. So $84. So I'm going to the book, but sometimes when you tell you see big, you know, move like this, it's always a good exercise to go and look in the book and 84 a box, I see 60,000 shares up there.That's big number for it. So that's going to be your major resistance point. That's taken right from the NYC open book that has our orders that are put on there that aren't in the pre-market. So when you're going on the NYC exchange itself, it doesn't open till nine 30. So I'll give you a feel for, is there some sellers in this and I'm seeing a big salary at 84.So I would think he gets up there and in the higher 80 threes and what's struggled there. So what's it done? Pre-market a tire. We're at 83. What's the high did the 84 hold. No, it's high as 83 65. Okay. So yeah, so the 84 hole held is what I mean. So it didn't trade above that 84. So again, looking, you know, it's stuff like that.That's, you know, just trying to give me an edge to figure out where is liquidity, you know, where is their sellers, where's their buyers. So looking at it, you know, I often look at the buck when, on these earnings reports, if they're not, if they're trading like a hundred million shares, it doesn't matter any, nothing in the book matters, but turning 73,000 shares, 60,000 shares is 20% of the pre-market volume.So it is something, you know, sometimes you'll see like a million shares there and it's like, okay, well that's a wall because it's only trade 2 73, it's got very little chance to get through there. At least in the pre-market regular session volume picks up. It can take anything out, but you know, it's an exercise that I look at for sure.You can just subscribe to the NYC open book through your broker at 60 bucks a month. I know people don't like to pay for information. I'll tell you I make money because I pay for information. Okay. Update on our poll. It's 65% in favor of four charts. 35% in favor of Joel wins. Well, it's not even, I'm not ending the ball.We're not stopping the count, your honor. Yeah, we got to get the chance for those ones to come back out yet. But, uh, Hey, let's, let's look at MasterCard here. MasterCard had a brutal day yesterday that hammered, uh, off, and I'm going to stop and just say one thing I, I CA I'm logging massacre in the longterm account of kind of want to go along in this account because.This visa has set the bar so low for MasterCard and they really did. And then you had Kramer coming out and after hours and he sends his little a message out through his little investors club that he was buying MasterCard more onto it. So anyways, here at this point, give us the numbers here.Expectations before, you know, Spencer gives the numbers were super duper low going into this quarter. Thanks to visa. MasterCard comes out and beat on the top line earnings beads on the bottom line. I'm sorry, top line revenue and beats on the bottom line earnings. And, uh, and then all the media is going to look out visa.What are you doing wrong? You know what you did most wrong visa. You reported first report first. If you're going to report bad numbers report second, if you're going to report bad numbers. So what I would say, corporations, if you're planning on reporting. We have your earnings report after MasterCard. And maybe they'll forgive you a little bit more.That's a joke a little bit, but it actually is funny. That's the way this market is. It's just little edges like that. And if the expectations are set really low, you know, now the bar for MasterCard is probably here because it just dropped it down into the floor. Can we get over the floor up our, yeah, we can walk over it and that's what MasterCard did.Yup. I think that's exactly right. Um, okay, so we just covered it like 15 stocks. It feels like there are more earnings where you can do like Comcast. We can do service now, but I want to open the floor up to the chat cause I've, I haven't really been able to focus too much on that today. Uh, is there any earnings you would like us to cover that we have not yet covered?Um, because there was like a hundred and we can't get to all of them. So if you've put a message in the chat. And, uh, I may have missed it. I apologize, because otherwise we're just going to do the ones we want to do. Exactly. That's how we roll. Well, maybe we should look ahead a little bit too to tonight.And we already did a little bit with apple, but tonight. So check us out. Let me put on my church. It's tonight. You got, go check it out, check it out. You got apple. You got, you know, no, I'm going to go to calendar. You got apple. We'll say the 28th. Yeah, the apple. You got Amazon. Let's go to a importance here, but before there we go, lucky to filter by that important to get all the big guns.Oh yeah. But you got it. Your Amazon I'm going by out. You got Gilliad, right? Yeah. I don't give that much importance. We need there. Lower them in the ranking of important. That's fine. You got a team. You got us steel. You got a Stryker is not that interesting. So here's an exercise and this is what I do every single Sunday.Is I write down all of the earnings reports, that report that week, all the major ones. I read them all on my sheet. You know, there's a lot, there's a lot of earnings on there, but I write down all the major ones. So right at the top of my Thursday night list, I do morning and night. So I'd go morning, night, morning, night, morning, night, morning, night on the top of my Thursday night list is apple.Number second is. And then it starts to go down from there. I've got Starbucks, I've got us steel. I do have Geli out in the top six, I guess on this day it was okay. Western digital team has made my list. Um, and then it starts to go down from there. So not as many, but apple and Amazon are your highlights here tonight.Everybody's going to be looking at those reports. Obviously, sometimes what happens is they go in opposite directions. This is the way these things work. So whoever reports first, if they get hit, the other one has a lower bar. All of a sudden, even though apple and Amazon really have virtually nothing to do with each other, you see that happen as well, where it's just the fact that they don't want to slam to stocks that are that big in the S and P.So when you have two major components reporting, if one disappoint all of a sudden, they can lower the bar for the other S and P and it's crazy, but it's true. It can lower the bar for the. So, you know, we saw this to a certain extent last night or two nights ago with Microsoft, obviously doing very well.And then Google getting hit. I know Google came back and had an awesome day, amazing day for Google and the reversal. Um, but you know, and, and making new highs, I mean, that Google was just incredible. It was down 50 bucks after hours ended up going up 200 points, basically from where it was trading after hours.So huge move for Google up 78% from the after hours lows. But, you know, keep that in mind, if that one comes out of Amazon comes out, then all of a sudden, you know, and they beat, then all of a sudden the bar was a little bit higher for apple that night, because that's your ETF players. That'll be looking to hit something.Yeah. There's going to be trades to be made today, tonight in like, not just an app on Amazon, but also like in the Q's right. Because apple and Amazon and everyone in that spot. Right. Because apple and Amazon makes so much, what are they, what do they make combined? What is it like the 10% of the S. It's really high.Yeah. It's probably maybe more than 10% Spencer. I think it might be 12. Okay. So I was close, but, uh, well, let's go look. So, you know, you can go into your pro you probably have this in your pro as well. If we want to just look it up, but we'll look up spy and then, you know, the cues obviously as well. It's huge and the cues too.So that's when we often see, and I've talked about this. So apple actually very close to 10%, sorry. Apple is 6.03%. Amazon is 3.8%. So you're almost right on the money at 10%, Spencer Israel, gnosis ETFs. I do two companies making up 10%. The other 498 will make up the other 90. We know Microsoft the biggest one at six and a half.So we know what the top 10 components are almost 30% of the index. So that's why spy holds up so much better. Despite your average doc being down 28%. All right. Uh, we also knew, uh, Starbucks. Yes. Someone asked about that. Starbucks is tonight. I did sell my Starbucks by the way, sort of last week. So, um, I'm out.Yeah, I'm just, you know, what's scary to me was the, uh, what restaurant? Um, uh, uh, yeah, it was eat. Thank you. Eat it scared me. He scared me. So I scared a lot restaurants. Yep. They've forgotten it though. Like DRI started coming back. They forget about stuff. Mickey D's. Maybe the bar was low Mickey D's did.Okay. But I guess eats the sit down casual. So you gotta look at the direct comp for eat is DRI. Alright. Uh, I asked the chapter tickers and then I, and then they came through. So let's go through and take a look at these K L a C is one bad earnings, uh, chip play, beta earnings last night, EPS, they beat sales.They beat, they gave strong, uh, yeah, mostly strong EPS guidance because they gave a range, but they made a point on that range was higher than the estimate. They gave sales guidance as well. That looks like it was higher than the estimates as well. And, uh, KLA C. Uh, four, almost 5%. That's what's the multiple and KLA.See, I feel like it's lower cheap go to overview. Third. What does that say? 13 or 18. 18? I think so here's the deal. What we're seeing here clearly in this earnings is they're selling tech growth and they're buying tech value. That is what we're clearly seeing here overnight. Now there's trends can change, but if you look at the tech stocks that are trading higher this morning, KLA see value tech.And obviously we know the Shopify as we went through them already this morning. If you weren't here, you can rewind the tape Twilio. We didn't give service now and he loved, but you know, it's, doesn't want it to, there's a clear rotation. Although now has come a long ways back from the after hours lows, but there has been a clear rotation overnight from value, uh, from growth tech to value tech.So value tech a little bit back in favor and value. Overall, I feel like values having a better day to hear that. Yeah, it's exactly right. Um, okay. The other big movers in the morning, these are not earnings related, but. Again, it's this days I have to go all over again. F U T U and T I G futu and tiger.These are the Chinese brokerages. It's the same headline. It literally is verbatim the same headline as like two weeks ago, which is yes, the Chinese government, whether it's the central bank or regulators or whomever is saying you're, you're, you're operating illegally. You are, you're not operating within the balance that we want you to operate in.We're calming for you. We already got this head on like four times. Another torpedo into some of their companies, into a sector here, food to February high, over $200, a share that is long gone. You now got down. Now you're down 75% from the all time high. I don't know where these things stop, you know, are some of them cheap.Sure. But we saw how long Alibaba stayed out of favor before it finally started to bounce this. Cause it got their valuation. I was just getting to a point of absolute ridiculousness. Um, I'd say $50 if you just want to talk technically, because that's where you broke out from at the beginning of 2021, you had major resistance at 51 back in November of 2020, and then he had the breakout.And then we had the ridiculous note run from January, February, where everything just blast off in the orbit. And most of those stocks never saw those February highs again, but 50 to 200. So you think logically that maybe you got a bounce level after. But trying to call the bottom and stocks that are going down, especially when they're going down, because China, you know, getting down and dirty in your sector is always a dangerous game.We'll look at that then that's fruit too, and I'll contact together. That tiger. That's a great ticker symbol. I love to hear out of that ticker symbol, not to stop. Okay. We were asked to look at overstock. They also reported earnings. I'll give you those numbers. Now. They were out this morning. EPS read 63 cents for us.47 10th c'mon chart, uh, sales of 6 89 for six $82 million. There it is. Um, a conference call is in progress. Not sure what's going on with that, but other stock is trading higher this morning. Wow. Of April. It's a nice move up for overstock. It's kind of just been sitting around, not doing much and expectations that got hit two days and there's report.Some people were nervous about this report with that being said, you're snapping back right into a major area of resistance back in July 85, 64 of the high. Recently we got up to 86 46 and let's say 85, 86 major resistance. Overstock is a wild child though. And this dock, um, you know, is really one that it's hard when to trade off for.And he's, I've tried to trade this off earnings before and it is wide and unpredictable. So I've seen overstock rally up and then give it all back. I've seen overstock rally and then continue to rally. So this is a really tough one to off earnings and wow. Look at that. Look at that move. I'll never forget that I move last year.This was your biggest gainer of the year for awhile in terms of percent, it was overstock of all the stocks that got crushed and came back. None. Didn't none more so. Overstock last year. Um, pretty wild stuff. Did we cover four? Yes. Brian recover forward at the top of the show. So rewind for that. Can we talk I robot and bring up the after hours chart of it too, because it's a fun one to talk about here.Okay. After hours earnings, zoom, this is, this was the wildest after hours for I robot. This thing yo-yo rode around in eight, 9% ranges. So give us the number. So you get the initial numbers that hit the board and they're good. And it's like, whoa, that's a blow away for I robot. So bring it up. Yeah, the, uh, where's the, uh, the chart there.So the APS buck 67 versus 70 cents. That's a big beat, a buck 67 for a 70 cents sales, a four 40 verse four $17 million. Um, uh, let's go to a one minute chart. There you go. That looks a bit more fun. Look at that rip roaring up 10% on the report. Everything's going great. But then the next level. The next line comes out and they lowered guidance.So then they turned around, they bought it up 10% on the head, initial headlines, all the news algos. And then the next line they look, oh, they lowered guidance and then they slammed it all the way down to 74. So they, so here's, here's the tale of tape from $77 up to $84 and change then down to $74 and change.Cause they lowered guidance and I'm like, no, no, maybe it's not that bad though. Then they ride all the way back up to 82 and then back down to 75 again. And now we're just settling out here and it's like back at, even that is the craziest after hours action. I was watching, I robot just yo-yo all over the place after hours because great beat on the top and the bottom.But the lowered guidance, they never like it. Lower and guidance and evil, dark evil DJ there on the chat is right. There's been a lot of companies that are allowing guidance, supply chain issues probably here as well. I wouldn't be surprised. I didn't read the report. I just saw the lower end guidance. I'm a headline reader to headline breaks, lower and guidance like, oh, that's not good.And they slam it down. Then they bought it back and slam it down again. So they don't know what they want to do with it. Now it's just hanging out at flat, but it did anything but hanging out it's flat, flat last night, it was a wild stock to trade on earnings. You know what report is interesting this morning to me is Comcast because specifically they worn, they already warned about a month ago.Remember they were speaking at the Goldman Sachs conference and they came out and, and, and they like talked down their streaming growth like a month ago. And it looks like that worked because their report is out today. And I, I, it's fine. I guess they beat and they beat, but the stock is trading hot. I didn't see what the streaming numbers were, but they already like lower the bar for themselves at that Goldman Sachs conference, like peacock growth.Um, and it seems to have worked for them because there are 3% today and the cable companies, visa, Comcast and Verizon, I don't like any of them. Fair enough. Okay. Uh, what did we cover? We did not cover up work. That's trading down off their report. Same story as the pandemic, uh, tailwinds tech growth tech.So you don't favor or real surprise? Not today. Yeah. I'll work as a loved stock though. It'll find buyers in here and it's obviously down in three days from 62. So I'd be more inclined to buy the dip, but I'd wait to just see. Cause you know, these things can get really ugly. You know, people were coming and trying to buy the Twilio dip last night.It was down 25 and that's down. So I wait until the dust settles. I wouldn't mind buying the dip on a couple of airlines report, spirit and Allegiant. We can look at here, I'll pull up the save on the, on the screen here, uh, spirit, uh, so hard, cause they're all just losing money. So, uh, they lost less money than they did a year ago.That's cool. Sales of a 9 22. It, everything was better than it was a year ago for spirit and for Legion. It's the same exact story. So airlines massively oversold. It's basically been cut in half since it's February highs when it was over $40. Um, is it all priced in? I, I kinda, I, like I said before, if I was playing the other reopening trade, I'd go to the cruise lines or the casinos before the airlines, but I'll give you the airlines are oversold or could they have a dead cat bounce?Yeah, they could, but there's a lot of overhead supply, a lot of bag holders holding these things, always tougher for stocks to start moving higher when there's so many people call it. Yes. And unfortunately, because we looked at this a couple weeks ago and we looked at every airline stock together and they trade identically to one another.There really is. Honestly, I almost think there's almost there's. There's basically no point in trying to pick one here. I'll do it. I'll do it again right now for you all on top of each other. It takes two seconds. I'll UV with a little lower beta though. Here. I'll do them. All right. UAL, uh, Al here. I think that's all of them.Okay. Are there, Hey Al, you can say, oh wow, great performance in AOL, but just got a little bit more over done in February. So is it? Yeah. Yes, there's a job, but they're all, you can look at the charts on top of each other, so they're all ridiculous related. That's why, you know, I pissed in trade off. What's that mean I trade them all against each other.So you got one, that's breaking out the other one, a cup, the laggard know sometimes even short the leaders. So, you know, they're going like this, but they all kind of track each other. So those little gyrations, the noise you can extract alpha from the noise of one, getting ahead of itself and one falling behind itself.Cause they seem to play the catch up. Obviously in the long run, you know, there is issues like fundamentals in a better performing company is going to do you have to respect the value. V beta is a little bit lower than the AAL beta, but overall, these stocks all track each other very closely. Um, okay. I saw this ticker just mentioned it off, throw it out there.So the big loser of the day has nothing to do with earnings. What is it? It is RFL. And this is a rule of thumb. If you are investing in a biotech company that has one drug, one drug in the pipeline, then you have to know that this can be. Because the news today is an RFL, uh, ha their, their latest trial, their phase two trial, uh, did not meet its primary end point.And then they halted the phase three. I'm sorry. It was the phase three. And they, they actually halted the trial. Yeah. So they, they trial did not meet the primary endpoint and they halted. This is for a pet. This is for a pancreatic cancer treatment. Um, it is the only drug in their pipeline. They have nothing else.So this can happen. Can a stock go from six to 10? Yeah. Can a stock go from six back to 30 and they use the drug stocks? Not likely. So I'm not saying I'd buy it at six, but a stock can also go from six to 10. So one thing that people don't consider as like it's only six bucks, it was $60. It's got to come back.Well, if the stock goes down to 3 25 from six 50, you just lost half your money. So in $3, isn't that far away from here to lose half your money. So I never short stocks, you know, when they come down this far because they can be snapped back rallies, but overall it's hard for these stocks turned around.Once they start falling this much stocks down 90% from the highs, when you're buying stocks down 90% from the highs, it's rare that they turn the stories around thinking about all the people. Now everyone's dead, everyone's just destroyed in it, you know? And they're like, oh, if it gets back, I don't even know.Like when it scaffold down from 30 to six, it's a huge gap. So that's why it's going to be while it can go anywhere. Could it go to 7 58 bucks? It could, could also go back down to five. It's a coin flip at this point in time. Hard to just a lot of people. Naturally. I used to do this when I first started trading.It's like, oh, stocks down from three to six. Why? You know, it's just too cheap now it's eventually gonna come. Not pharmaceutical companies. A lot of them don't come back and you write them off two years later when they're out like a dollar that can happen. Not saying it's going to happen here, but a lot of them continue to leak and then people are dropping tickers in the chat.Yes. Like right. Chris has mentioned CRTs. Someone mentioned Sava, uh, come back. No, but the point is though, like, this is like, this also happened in those, right? This happened in Sabah. This happened in CRTs. Did not really bounce it all yesterday. So if you were coming in saying, oh, CRT X down from 60 to 18 where it opened yesterday, or like, while you know, 18, it's going to come back.Well, now it's 13. So you bought that dip and you're down 30% after the fact. So buying these pharmaceutical companies on bad news can be very bad for your portfolio. A lot of time. We'll just say yes. Yes. Um, so the other one's bounces though, like I said, you know, it's going to move around, could go to seven, eight.Yeah. But it could go down to five. So at this point in time, it's a coin flip here. Don't just bank that, oh, it's eventually going back to 30 because most of the time they don't K I S I've seen, uh, several mentions of D whack, I guess here's the good news on DUI. Right. As you're holding the low, the roll over the recent move, which was yes.Two days ago, right? Two days ago, I think that low was, or was it yesterday? Yeah. Yeah. And that is, and that is important. So we don't have a lot of candles here since de whack when full Trump, we only have five candles. So you got to look at that and say, okay, 50 to 55, I'll call it a sloppy, double bottom.And that's important. So it did reach the previous day's low, but then it closed above it. So you know, where the major support is major resistance is going to be the previous day's high at 91. So you still bounce around and here is the dewax story over. I don't think it is to be honest. I don't think that the wax story is completely over here yet.I'm not coming in at 71 and buying it. But if it gives me a setup, it's too wide, it's too hard to control the rest because right now, if I was to come in and buy it at 70, you really got to give it to 52 and that's just too much. I can't give something like 20% or 25%, you know, it's too wide for me. So I need something tighter.You know, yesterday he could have said, even I was going to give it to 55, the low off of breaches that I'll get out, but then he gets stopped out. So it's a tough stock to control the risks. Obviously, you know, some people make some money because they're just, you know, don't control risk and they just let things go anywhere.And in that case, you know, some things can work out, but I like to control the risk because I don't want to be left with a big loser, frankly. The, uh, B BKK T is the same thing back. Same way, same exact situation for you, right? It's just, you got to give yourself a lot of room, therefore, therefore you have to have a high risk tolerance.But it's not even that it's, it's the problem is in traders for if you want longevity in this industry, you've got to be able to control risk. So how, I don't understand how you can control the risk in something like box, when, you know, when it's BKK T when it's got a 50% range, 20 to 30, I mean, it's so difficult, you know, that's a one day that's a one day candle, and then things are moving around this much.Uh, if you're, if you're controlling, what stops you getting stopped out on everything? So, yeah, I go, okay, I'm going to buy it at 30. I'm going to put my stop at 29, you know, and if it breaches the previous day's low, you know, then I'm going to be in. But a lot of times they just go down there and then they go back up.So it just like, the gyrations will just stop you out of everything. It's all stops. When stocks are that while they had all stocks all stops. And if I can't control it with stops, then while I could just get away from you too, you can say, okay, well, I'm just going to buy it. And, you know, I know if I put a stop at 28, it's going to hit my stop.And then it goes 28 and it goes 27, 26, 25. I'm like, well, why didn't I stop myself? So it's very hard to trade this stuff. It's the hardest stuff to trade it's wild. Um, you know, people think they want to get rich fast. They don't want to trade boiling for, they don't want to trade boring apple. They want to trade exciting.And you know what? There's just a lot of risk in there. It's not my cup of tea. I'm into base hits, base hits. Bach is trying to swing for the fences. And I don't know if I'm going to strike out. Hey, uh, let's take a quick look at ratings. Weren't there a couple of they, you, you had. I think there was, uh, there was, um, one small company.Um, I F R X, I believe the first time I've heard of this company. So, but it's interesting where the market is so hungry for the next, you know, slow price stock. When you get RJ coming out and upgrading the stock and RJ upgrade on a stock and it's a smaller cap stock, and they did put a $14 price target on it.My typically moved the stock, 10, 15% normal markets. We are not in Kansas anymore. People want anything? Oh my goodness. There's another penny stock. I can get a hold of and it's going to run and I'm going to get rich on it. That's the mindset behind these stocks right now they've bid this stock of 60% because an analyst has an opinion that they think it might go to 14.That is the market that we're in right now. Everybody values everybody else's opinion more than their. It's like, people don't want to make opinions for themselves. They want the opinions given to them on social media, given to them by an analyst. Then they want to jump on board and they want to get rich.I will say I would never pay up 60% for a stock to go up more. It's the kind of market it could do anything. One thing, if you are trading these stocks, once they get over five, um, they, they usually have major resistance at the fives. So a lot of times they're not mergeable and most retail brokerage is below five.So keep that in mind. I think I R X will have some trouble at five, but again, you know, I don't know social media has grabbed ahold of this or not, but that's crazy. Move for just an upgrade. You rarely see a stock move up 59% on an upgrade, but for a tab, one of the biggest upgrades, one of the biggest moves off and upgrade I've ever seen.I'm not chasing it up 60% on an upgrade. This is a small cap, right? $180 million company. People are hungry for those shoes. They want those stocks let's look in the pro here. How many ratings do we even have? Oh, that's actually more than I would've guessed. Um, we, it looks like we have our last writing we have from wait, did I got the ticker, right?IFR X. Okay. Um, August we have, actually, this is not, not nothing. I would have expected a lot last semester. Well, we got, how many ratings is the, what are they doing? August who did in August? It was, it was Raymond James, again, it was just maintaining their outpouring, but lowering their price target. So they went so stop.Yeah. So Rand, James goesback, back it up, back it up. Well, let's go back to, uh, 2018. They, they initiate coverage with a $44 price target in 20 18, 20 18. Let's go fast forward two years. And they were dead wrong. Well, let's fast forward two years. It looks like they stopped coverage and they started again. Or, or, yeah. So then they upgrade or they announced what no.They upgraded the stock. So it looks like, yeah. Okay. The upgrade to outperform gave a $10. So they went from a $48 price target to $10 price here because something happened back at 2019 and the stock loss, like 90% went from $50 down to like two Reeboks. Yeah. So, I mean, so here you are this RJ, and then they go in August and they lowered their price target.Now they upgraded from outperformed a strong buyer. I don't know what the hell the difference. I don't even know what that means. They both looked like by most brokers, they're outperform is a buy rating. So they go from buy to strong buy and they've been wrong about these price targets. So all this information given to you, this analyst has obviously had a dead wrong when they were at a $44 price target back at 2018.I don't know if it's the same analyst or not. It was the same person, the name it's the same anyway, same company, or it had it wrong, wrong, wrong. And now they come out and they put a re you know, a $14 price target, go from buy to strong buy. And everybody's like, oh, well this is what the hell it's been wrong a lot of times.So just keep that in mind when you're chasing the stock up 57%, I have no position on it. I would never chase a stock of 57% on an upgrade. Last one here. It's not even a real upgrade. It's from Beida strong, but I don't even know if I consider that an upgrade, even though it says upgrade last one. Can you look at snap real quick?Because people have asked about snap or two yesterday, we should talk to Twitter, got smoked, smoked. And we were like, I don't think it's going to Dan. Nathan said, I don't think it's going to get away from you. It was like, I don't know what to say about this one, but I don't want to chase it. It was up at 63.They pulled the rug out from under this and they hammered this. I did not see that one coming down at 55. Now everybody's caught everybody who bought that earnings report, chasing it up on earnings report, punished severely. So snap. We can look at that too. It really hasn't got off the mat. You think, okay, I'm going to buy the dip on snap at 55.Now it's 52. When the stock goes from 55, from 60 to 55 to 52, they usually go to 50. So now you think, okay, is the snap going to bounce at 50? Well, there's some support and there may be. But again, it's troublesome when you've got stocks disappointed, they can stay out of favor for a lot longer than you think.So. All social media, snap, Twitter, um, Pinterest, to a certain extent now, because unless the deal comes back from PayPal, Pinterest is in free fall here now, too. And we talked about that down at 45 ugly day for it yesterday, all these stocks, even Facebook itself, all these stocks are out of favor right now.Yep. All right. Look at that. We made it through an hour. No Joel and no guests, both of our guests today canceled last minute, mark Chaikin and Peter talk me and shaken. Cancel. Yeah, he said he had to catch a flight or something like that. So, so no joy, no gas. And we made it through an hour, Dennis. Thank you so much.Hey, who dropped us? That super chat red tap. Thank you so much for this super chat. We appreciate that. And Dennis have a good rest of your day and we will see you tomorrow, man. All right. Um, here's the deal. We got a few minutes and then day two of the. Fencing a small conference is going to start in about 10 minutes from now.Uh, I'm just going to hang out with you on the meantime mission. Come on and we'll do a, uh, crypto update right now. Cause we didn't do any yesterday. So that was that, that, that was not good. Uh, so we gotta do a crypto up there right now,show of hands. So we just convert this show into just a straight up meme coin show because that's what this market has become. Right? I mean, forgetting about Bitcoin Bitcoin, either boring, who cares? Right? Who cares? Serious question. Um, I, I'm going to end the, the survey in the chat and I want to do a new one and the new one is going to be do you own cheap?And I'm, I'm completely serious. I'm ending this survey. I'm ending the poll. It's over four charts. When congratulations, new poll, do you own Sheba? And then yes, no, I am completely serious with this question because, and if you own it, where do you own it? There's another question, because this is the difficult part about like, if you're like Robin hood, for example, and because they're their listing, she even like one a week, I think it's so hard to keep up with memes.You can't keep up with memes. They move so fast. It's so difficult to keep up with. Like by the time Robin hood gets around to listening, she be new. I worry. Like, it'll be, well, we aren't until the next one. Maybe we already are in the next one flow key. Right. Joe Kwame says Coinbase. Okay. Is how it is, how they own it.Eats Hora. I'm seeing. Okay. Yeah, I see. I know. I see you. Floki. Yeah. All right. Can you all right, let me make sure that people can hear me because my mic has being a little bit weird, but I think you can hear me now. I wanted you to hear the song that was on earlier so that you can hear it, please. Oh, sorry.There you go. Put it on.How long was this playing earlier for like two or three minutes?That's enough of that? Um, it's still on that's the funny part is I didn't get to hear it before. Okay. So he was just going to show me was I forgot that it picked up all my computer sounds. So it was playing in the background and I didn't even have it on the screen yet. It was still just go anyway, back to the heat map.You see green across the board. Uh, good for everyone. Yay. Yay for us. Yay. For all of us, that own crypto. Um, and now I just wish I owned more, but that's the way it goes, right? That's the way it goes. Uh, as a reminder, you can get some free Bitcoin. All you have to do is download the Voyager app. Use the offer code a Z I N G zing fund your account with a hundred bucks, make your first trade, and they will give you $50 a Bitcoin for free.Honestly, I don't know. I think we need to be on camera today. We could just put that GIF on all day and we'd probably have like 10,000 people watch. I actually have debated this, like, like what if I just do a stream? And I put like the chart up of some crypto, whether it's dos or sheep or whatever. And I just leave the chart up there all night and leave the stream going.I'll probably get like 10,000, 20,000 views. Just put that music in the background. You got an expensive thing. I might do that. Let's try it tonight. I honestly might do that. Well, we'll try, we'll do a ship weekend. Uh, Alex is asking how, how to buy. Floki not in the U S oh man. Not in the U S I saw at least what I saw.I tried to buy it today. I went to their website and they tell me, oh, for four to 5% slippage on pancake. I was like, cares about slippage when you're going up. 5% slippage, get ready guys. Oh gosh, this is he. It's fun. It's all fun and games until the party ends. And then it's not fun, but like, this is fun.It feels like it could see. I, I I'm with you guys. It's crazy. It's dumb, but I'm here for it. These are still hot to Spencer. I mean, one thing that I've realized is that this year was not the year to trade stocks. It was the year to trade NFTs and crypto. Yeah. Last year was stocks. This year was an FTS and cryptos.Yeah. I mean, that's, that's right. That's exactly right. Hey, shameless plug for our NFT and crypto show every day or every normal day, not today, but every normal day where we don't have a conference at 2:00 PM Eastern time, either mood or bust or the roadmap and hour a day devoted to this topic. The people who know way more about this stuff than, than, than, than Mitra myself.So like I only own, I own Bitcoin. I don't want to figure my own Solano. That's what I've got. I'm not very exotic. Um, so if you want to know how to make a billion dollars on the next few weeks, I don't know, watch those shows. I don't know what else. Maybe you're just looking for an FTS. I mean, I'm even looking for NFTs myself, starting to get some hate at my toes in the grant grant asked assets in corner store thing.Funny story about that grant. Yes. Zinc coin is still a thing. Uh, we had to change the workflow because somebody in India like attacked us. Uh, but maybe I should get John G on the show one of these days and talked about it. But, uh, yeah, I was in coin store thing, but, but, but we got like a, a brute forest is in corn attack or spam attack.And so, uh, we had to change the workflow, but yes, in coin is still a thing. I'll get John G to come on the show and, and talk about it. She was replaced us dollar Raven. Uh, yeah, I wrote Ravens Ravens here for this, uh, Sarah Russell. Yes, Benzinga has a crypto show. It's called a moon. And the airs Mondays and Fridays at 2:00 PM Eastern time.And then our other crypto based shows is really more of an NFC show is called the roadmap and the airs every Tuesday, Wednesday, Thursday at 2:00 PM. Eastern time right here, youtube.com/benzinga. Um, are there other things that I feel like there was more announcements that I had, and I don't remember what they were, what were my announcements?Small co oh, yes. That's what it was. Um, okay, so smaller cap conference today. I've said that before. I'll say it again V and not to play favorites, but I have, I have a feeling that the presentation today that will get the most traction, the most traffic is at 2:20 PM Eastern time. Then you're bringing up a chart and I will show you the company that has presented.At this wall have conference today at 2:20 PM. It is a high flyer from what maybe you own it. Sure. A few of you on this thing. Boom, Phunware, P H U N Y. We're talking to the C O O of Phunware later today. Uh, 2:20 PM. Rainbow Crowder will be on the stream and I'll put the link to the stream it's coming up.Next is the stream will annual redirect straight to the conference, but I'll put the stream in the, I'll put the link in the chat right now. There's the link to the YouTube, to the next conference stream in the chat Phunware 2:20 PM. Eastern time. We hear directly from directly from the company and ask them what is going on because they've had an eventful few days, by the way, um, BZ small cap.com.If you want to see the full agenda, the full agenda is also in the link or in the description of the link. I just pasted. It's just, you can just scroll down and see all the companies that are speaking today that are presenting today. So PJ that's, that's fine. Okay. Yeah. It's fun time. Exactly. Right. So I want to plug that and we're going to give away free when you're a subscription of Benzinga pro.If you don't know what Benzinga pro is, it's this platform it's up on the screen. It's our, it's our pay Newswire service news research tools. We are giving away a one-year subscription for free, for free. All you have to do is basically just tune in to the conference and at certain points, we're going to bring up a QR code on the screen.You got to scan that QR code. You got to answer some survey questions, and we're going to enter you into the contest to win. And then there'll be a random drawing at like 3:00 PM Eastern time today. And we will reveal the winner free one-year Saba Benzing pro, or if you want. Do all that and just go to pro.benzinga.com and get a free two week trial pro.benzinga.com free two week trial, no credit card.No, no hassle, nothing like that. Just easy and or, yep. All right. I want to give you guys a, something that was mentioned in the chat here. Um, you know, we're not the experts in this area, but definitely, uh, giving him the chat about candy. Um, the partnership with fanatics that, that platform NFTs are coming out with some, the MLB ones today.Take a look at that, uh, that could possibly be wait what's the what's the. Um, so this is NFT with fanatics, so, and it's an MLB, um, the big thing with this is that you guys know how tops has been losing and losing out to fanatics and also a different card makers, uh, tops has really kind of dropped the ball on the, on the MLB NFTs.Um, and I think that these might actually stay in place again, you know, the tops one tops disappeared. Remember it used to be butts. Oh. And they canceled this back. They canceled it. Oh, that's right. I forgot everything's going negatively towards tops. Like if I was in tops right now, I'd be worried for my job.Let alone the company. So definitely it's been a change in a company that has been massively in control. Um, so there's the MLB ones. There's one that I don't think is really going to get popular. Cut. I might buy it. Spencer. Um, miss universe, NFT. Oh no. Coming out on wax block blockchain today. Um, so there's that one.And then there's so many NFTs coming out every single day, man. I, I can't keep up with them, but if you guys want to keep up with them, what I suggest is go to the roadmap. Like Spencer says, it's on Tuesday. It's going to be three days a week. Starting next week. It's going to be Tuesday, Wednesdays and Thursdays.So you guys want to learn about NFTs. That's the place to go. And the person that asks is a course, Chris, catchy or mass. If you guys haven't seen the show, reach out to them, ask them what are the new projects what's coming up? What's next? They're going to know. All right. I brought up at movers tool as we wrap up the stream here.Cause we're going to start the conference up on like a few minutes. So here I've got, my gainers is on the left. My losers on the right. We've covered most of these this morning. There's a couple that we haven't, we did not cover, uh, you know, trit. That's a crazy high, I think, got to 9 35. It's $2 off that.Now we didn't cover like the, you know, the crazy low price ones. Um, but we've covered most of the larger names on these lists here. But again, this is the movers tool. This is what I look at every single day. When I get into the office, the very first thing, oh, we missed Anheuser-Busch had bad earnings and we missed that.How were, how was pass me the beer here? Let's bring up a newsfeed. We'll go bud. But I don't know how my computer will not cooperate. There we go. Um, that the, uh, so the revenue beat and they raised their guidance. Hey, revenue, beat guidance. And how's your Bush. Okay. This is so the opposite of saying could Sam's turn around now.Sam got smoked. Yeah, but maybe you can turn around now. I'm actually interested. I've been waiting for it to get underneath 500. It's underneath 500 right now. I had a line drawn for a long time. My 5 0 9. I might take a shot on it. Huh? Anyway, I might take a flyer on, on San today. Yeah. Turnaround. Okay. Good story.Not, not because of the company because of another company. We'll see what happens. We'll see what happens. We'll see what happens. All right. Uh, Hey everyone. As a reminder, please remember that all the information from our show is meant to be used as informational purpose and not for investing or trading advice.Um, thanks to all of you for hanging out with us today in chat, um, on YouTube, on Twitch, for whatever reason, our streaming to Twitter is not working. I don't really know what that's about. Um, but maybe this is why we should just all short Twitter to begin with, but yeah, streaming, no, go to Twitter, but, uh, shout out to everyone watching on Twitch and YouTube.Um, and then, yeah, that's, that's all I really wanted to say. We will be back for out to close a TBD on whether Joel will be there, but I will be there and Mitch will be there and hopefully Joel will be there hopefully to it. We'll be there at three 30, but I can't make any promises. Um, the conference will, will end and go right into the, at the close show, but we've got a full day, another 15 or 16 presentations today starting the next couple of minutes.Um, and I'll be hanging out in the chat. I will not be your MC. We've got the one and only Michael Murray emceeing today's conference, but I'll be hanging out in Schatz throughout the day, talking about these companies as they present. Um, and that's pretty much it. Uh, do we have a cannabis hour today? I don't actually know if we have a cannabis hour today.I mean, anyone that don't, I feel like I should, I should know that. I feel like I should know, but I, but I, I don't know if we don't, if we don't, I'll tell you what if we don't have a canvas out today, then Mitch and I will hang out after the close past 4:00 PM and we'll just hang out. We'll watch apple watch Amazon as they come in and we'll just do an ad.And after the close earnings hangout, watch party with us, we'll have our own cannabis hour. Yes, but no, I don't think that will fly. Um, oh man. I thought I was going to go get the Yeti's for us. Anybody. If anybody was watching the virtual cannabis conference scream two weeks ago, then you see. What w what, what, what went down, but we're not going to do that again.I'm not going to be like, um, no one has said anything about that to me. So I don't think anyone, they kind of forgot about it. They'll blame me for it now. I hope they forgot, frankly. Um, anyway, all right guys, like always stick around. We got some stocks to learn from. We got fun. There's a big mover. We got other stocks that you guys can get a chance to ask questions too, too many times for these small cap stocks.What is the number one thing that you don't get a chance to is to ask a question, right? So go ahead, join on over guys. If you guys want to learn more about these, or you're just kind of a cheaper penny stock type of trader come hang out. I'm sure you'll learn something like it or hate it. This is where the party is at right now is this end of the market.We're here for you. We're ending the stream going alive. They're going live now. We're ending. Now you guys.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Watch The Benzinga Global Small Cap Conference live hereEpisode Summary:Earnings Bonanza with MSFT, AMD, GOOG, TWTR, HOOD reportingHow have IPOs performed in 2021?2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Eric Krull-Manager and Founder at Krull Asset Management, Co-Author "The Lifecycle Trade" 34:00Meet 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/podcastsSupport this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Market RecapFacebook earnings reaction FBTesla reaches $1 trillion TSLAUPS earnings reaction2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Tim Quast, Market Structure EdgeMeet 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 Tuesday. Welcome to pre-market prep. Spencer, Joel, Dennis, here with you as always, we're talking Facebook, obviously earnings kind of a day. We'll talk Facebook, we'll talk ups. We'll talk a lodge attack.Uh, we may talk a little bit of Tesla depending. I mean, we talk about Tesla all the time, right? So. Well, how can we not, you know what I mean? It pouring down and Martin, gab is kind of a big deal. So if you want, we can get to some of the staples, right? 3m G if you guys feel like it, if not, we can talk about other stuff, but, uh, Kenny Glick will be back today, which want to do a quick follow up with Kenny from last week.He was on the show on a Thursday, talking all about his trades and D whack and fun. Uh, just wanted to follow up for a minute here with Kenny. So Kenny will be on the show in about 13 minutes or so for a quick segment. And, um, we'll take questions from our chat as always, as we do at the end of every show at ticker time, as a reminder that like button forest, please.And thank you. And oh, by the way, our next event is tomorrow is tomorrow and Thursday. The second to last spending a small cap conference of the year. You can see the, the graphic there at the bottom of the screen bottom, right? Uh, BZ, small.com all day after pre-market prep all day tomorrow. Thursday, et cetera for that.Uh, Joel. Good morning. Are you see your charts? How are we doing? How was your night? How was your morning? We're doing good. We're doing good. I, but up someone reminded me. I did not give the dad jokes of the day yesterday, slacking on that front. Uh, Monday's a good one. Dads love complaining that they are the only ones who ever turned the lights off in the house.I do that. Yup. Yup. And then dad's love saying she's a Butte when they see a car, they like, I also do that. Okay. Well you're not a dad yet. You know, um, we are integrating by 17 handles. We just caught a bid after hours. Haven't even seen that close in 45, 58 pre-market high 48, 75. If I told you there was resistance in this market, I'd be lying to you.And I don't want to do that to you guys, crudes down or excuse me, up 26 cents. Big sell off yesterday, but on the rebound goal, still over 1800 down to 30 at 18 0 4 30 silver in the red by 14, 15 cents at twenty four forty four Bitcoin. Let's just call that flat at 62,900 and Ethereum, that's just up a couple of bucks, 42, 32 75.Uh, so we got to bring in triple D here and it's our mission. To put a smile on that face today. Some days you come in and your overnight trades, you're on the right side of every single trade and everything is going well, and you can do no wrong today. For me. It's not one of those days. I will tell you that much I've come in and I'm like, I'm right on that.I'm right on that. I'm right on that. I'm like, this is going to be a battle today. When you start in the hole by, you know what, there's a lot of day left. We'll try to take a positive spin on it, even though my P and L is bleeding out. So we'll try and take a positive spin. We'll find some good trades, maybe turn around my buddy, Mike in Nashville.He's telling me that I'm going to be green by the end of the day. That very well may be the case, but we got a lot of work to do. Today's going to be a good day for your taxes. How about that? Yeah. You know what? I'm paying enough taxes anyways. Maybe I just got to take the rest of the. Maybe that's what we should do today is going to be a good day for some tax loss, harvesting creator.Yeah, I think so. I already harvested a couple of them. One was a Polaris long in the earnings. Ouch. Yeah. Got stuck with that one wrong side. That's okay. It happens to everyone. People. It doesn't happen a hundred percent winners. I am not one of those people. There's Twitter loses on Twitter. Anybody ever posted a losing trade on Twitter?No, I don't think so. Everybody wins all the time on Twitter. They don't talk about the losers though. We like talking about the losers we like to lean on or chat when we're having a bad day and say, you know what? I've been there, done that. And you've all, even if you don't post them on Twitter, so, you know, bad day trading it's okay.Shrug it off. You'll have a good day. Maybe. Okay. All right, let's go. Let's go mean, let's go to the story of the day, obviously, right? Facebook here. Uh, we talked about this one yesterday into the report and the sentiment really couldn't have been quite worse on the headline for Facebook. This morning is very simple, not as bad as Snapchat five words.That's the takeaway because the report was mostly positive. There were some things not to like about it, but not as bad as Snapchat. Um, the EPS was, was good. They beat, uh, there, this is interesting. Their revenue actually missed, uh, I knew it was the first time that their revenue, uh, came in, uh, uh, uh, down on sequential or year over year basis since, since like 2018, um, which they attributed to what else?Or who else? Apple. Um, so, but, but you know, the, the daily active users in line, uh, the guidance in line, a buyback 50 billion. Um, so again, it was mostly good. And especially when you compare to Snapchat, it was very good. Um, they talked to up what else? Their metaverse they're going to spin out, uh, some reporting on their metaverse operations.And they're going to start reporting that stuff separately and spin it out from the rest of the company. So we get a better idea of how much they're spending and investing on, on things like Oculus and all that sort of thing. Um, so talk, talk that up a lot. Um, but by and large, the report, wasn't bad kind of, uh, uh, take that statement from, from Facebook in light of all the negative headlines every day, kind of a, kind of a pushback here.What are you going to with triple day on this. Well, the level of the level is the lows. And then we got down there again, they hit it right on the initial number. And where do they hit it to right. To those lows of the move, the whole three 17 to three 20 area. Yeah, we touched three 15, but there is huge.Joel would say super-duper support down there. You have to respect that the algos don't respect it obviously. Cause they're the ones that slammed it on the headline, the news algo, and they immediately start losing money. Don't think to yourself that every algo out there is smart. There's a lot of dumb algos out there.And that was a dumb one because they had a right down to support on. You got to understand expectations algos. You got to understand that snap and Spencer clearly stated when he was starting, the segment that they set the bar very, very low for facing. So come out like, oh no, Facebook best one of the power was lower.So you'd got to consider that when you're writing those news algos that just hit when they see the revenue, miss throw those expectations in there, but they don't do it and they just hit it down and you know what? They get punished for it. So ever sound three 15. Congratulations. You just threw away 20 points.Uh, I, we covered this on the show, uh, and then you add the clothes show and I do. I'm looking at this chart and there's some big players out there and I'm not one of them, triple D is not one of them, but they're just trading this range, man. And any time to St gets near three 20 or under three 20, they're just scooping it up.And then whenever it gets near three 40, they're dumping it. And now you're stuck right in the middle. So I, I like to see the way it resolves itself out. Eventually it's going to get it. And eventually we're going to break three 20. We're going to stay under three 20 and we're going to test 300 or they're just going to struggle.This offer going to hold three 40. They're going to get half back of this move. So I just think there's, you gotta respect ranges when their ranges, and this is a big volume stock. It's a big part of the S and P and until further notice, I'm just going to let it chop in this range and get a clean break one way.I mean, it's big money. I'm talking. Big money is doing this. They're there. Scooped it up and they're selling it. Maybe even going short, like you do triple D like I know you can go long and oh, I'm sorry. Okay. Yeah. Anyways, that's my, that's my look. You're going to ban shorting again, just like they did back during the financial crisis.Okay. That's it. So three 30, nothing muffin there. Just use those parameters. If you trade in Facebook, I'm curious how it's Twitter is reacting here to this. Well, it has had some headlines of its own too though, last night. So it actually didn't respond too much and then started lifting. Actually, maybe it wasn't a headline, you know what it was, it was a fast money, uh, pumped it there, big option buyers.Yeah. You know, and then when they see those big option buyers, those fast money guys, you know, everybody follows that. So it started lifting and it actually rallied a block because they said we saw call buying in Twitter. Again, I put zero relevance into that, but you've got to respect it because it does move the price.And when they talk about it on CNBC, a lot of people will say, oh, I got to buy some of that. And they actually actually did. So it is lifting Twitter. I don't know what to say about this either. If that, if, if, if, if Trump does actually yet his social media platform off the ground, like if an actually does, you know, and obviously a lot of people believe it's going to, with the market cap that they're giving it.I got to think it's not good for you. So, I don't know. I don't want any part of Twitter at this point in time. I want more information on what Trump's plan is over. I'm so close to dumping this and I've been holding it for a long time. Well, it's not cheap. It's not cheap, but I just can't take another earnings, miss.And this going back to 50 bucks. That's why almost, that's why I almost sold Intel. I had of the report. I didn't want to take another earnings myth and going back to 50 bucks, that's exactly what happened. I did not sell my long-term Intel should have sold. Take the money when he got the money, take the money.When does, when does Twitter report? They report? I should know this. Uh it's uh that's oh, wait, today, today, your night tonight. Everybody reports tonight, we got okay. So I only hear the lineup tonight. We are calling Microsoft AMD. We got hood. Look, Robin, that's going to report with Texas instruments. We've got visa.And then we got a lot of smaller company like Juniper capital one financial reports, wire report. They've got a few. There's a few. I think he missed. Did you miss Google? You say that don't no, I said it right off the hop. So the big three reporting night or Google, I'm going to go Google, Microsoft and D and we'll put Twitter number four, but a lot of people were watching that Robin hood earnings report too.So that's pretty big one too. It's under 40. Now that level is of all levels, but let's see what happens. I mean, when you have, you know, an earnings report, we always say technicals, take a back seat expectations, fairly low for Robin hood. So that's a good thing. If you're long, if the expectations are low, it means there's a lower bar.With that being said, I think a lot of Robin hood wants to know too, is what's happening with Gensler what's happening with payment forward or flow. What's going on there because you know, we can talk about high frequency trading. We can talk about, um, you know, off exchange trading. We can talk about Citadel and virtue, financial and off exchange market makers, you know, obviously benefiting from payment for order flow relations.But nobody benefits more from PFO AF than these small retail brokerages, like ones that small, but saying Robin hood, this is the majority of their revenues. So that's what matters more than anything to them. Um, and we don't have clarity there yet. So that's why it's difficult. Like you could have one headline Ganzer is going to crack down and all of a sudden, boom, Robin, who's going to get ahead or one headline Gensler's maybe going to leave it as it is.Or maybe we're just going to get more disclosures. I tend to think we're just going to get more disclosures, but you know, we don't know where he's going here. That matters very much to H O O D. Yeah, it did. It did. I mean, you got some add some daily support. I'm gonna still keep that line at 40, just because now you can kind of use it as a resistance.Uh let's see what I mean, you only have a couple other lows down here and you have the IPO price, uh, at, uh, what was it? 37. That's where it opened up that, so I don't know kids were still right. So this quarter was what, um, what months did it represent? Yeah. So kids went back to school in September, so maybe they weren't trading as much.So I don't know. Tough, tough call here. I'll just give you a, if you look in for support today, I don't think it's going to get the 37 16, uh, lean on yesterday. I don't know this check. Look how tight this is. Well, I can't get out of my mind. And this one is when did these guys, what was that big insider cell?That was, that was right here for three days afterwards. I mean, Yeah, look, I mean, they say, get me out. And Ben, is there been any insider buys in a Robin hood down here? I'm sure somebody is buying for somebody. Don't talk about Robin hood that much. And you know, the kind of ebbs and flows. We talk about Cathy wood for a while we talked.Yeah, we haven't talked to Robin hood too much. We talked about this 40 level though, and it has breached the 40 level, but there's an earnings report here tonight. So don't even worry about the technicals. Let's see what happens with the earnings report. I tend to think that the bar is pretty low and I wouldn't be surprised that they do get over that low bar, how the spot stock responds is another story.But I think that they can get over the low bar. Okay. All right. What what's bring on here? You know, we went, how many months we went, um, We went five. Oh, I can't do math. We went three months without having Kenny Glick on the show. And now we're going to have Kenny on twice in one week. Wow. We're getting more than our fair share of Kenny and I.The reason that I asked him back today was just to follow up on the craziness from last Thursday when he was on the show, we were talking about D whack and fun. And, and so Kenny, uh, first off, good morning, welcome to the show. Um, tell me how the last few days have been for you on that front. Cause it's it got quiet or.I don't think it's, I don't think so. We had another one yesterday. It was BKK T we get a it's it's three different D different symbols every single day. Now there's usually as a therapeutics or a pharmaceuticals involved, and then we have got, now the SPACs are back. So it's been crazy, but guess what? I mean, my one of my best trades, just that it was Kimberly Clark, you know, I always go back to the place.I'd go back to the bread and butter to fund the craziness what'd you do on can be, can be, was just the buyer and the dip. You know, I called the, I called the turn and got, got some 1 26, 50. The told me he was going to go to 1 30, 15, boom, went right to the price. And again, that's what I teach people. You want to have fun with these lunatic stocks, have the bread and butter to fund those crazy ideas because, you know, I'm telling this, I'm sounding people again, if that, if they pull the D whack deal, that stock's getting Holden and opening up at 10 bucks.So I wouldn't hold it overnight. And the options are too crazy to play on the two jacked up to play anyway. So, so wild, and it's such a hard thing to trade. Like I know you were coming on, you can put stops, but it seems like you get stopped and get stopped out on everything. When you're talking about that thing, it's like, if you throw risk away and you just kind of just let it go, you know, obviously you can make some big money, but you can also lose some big money that way too.I've always seen these things more as like lottery tickets, you know, some of them hit and some of them don't and that, like you said, fun, you know, use that to fund and have some fun, you know, PHQ and a lot of fun trading, something like that, but it's not my bread and butter either. That kind of stuff.It's wild. You know, again, it's a, it's a stark really opposite of what I'm in right now. I have queues Ford and Sophie that's my portfolio. So, I mean, I've got some boring stuff. Uh, you know, not that point though. Well, Sophie, Sophie has been pretty good. A Sol that one looks like you get, get past 21 and change.You could get back to that 25, 28 zone. I think it's a takeover candidate also. And Ford. This is, this is a, this is a 15 year breakout. We're finally. Something we're about to break out. Hopefully we get this back in the twenties and I think then, you know, maybe the crazy people come and start buying for.You never know which one they're going to pick next time. And she's kinda thick. It, you know, they, you need like when they tried to move, uh, what was that? Uh, that lochia, it was a little thick. What about up? I just want to say though, Kenny Glackin, we've known Kenny for like the last decade here and he's been coming on.There was one thick stock that he called, right. All the way up. And you know where I'm going with this one, Kenny, all the way, starting from $2 to $4 to $8 to $12 to $16 to $20 24. And it kept going, it was AMD and he was all over this and it started as a thick stock. Joel is for the next AMD. Oh, I'll take 20 bucks on for.Let's go back to the world of real investing. Give me 20 bucks on Ford in eight months. You know, I remember those days you might have $16 stock and it was eight, four bucks. And in eight months later, that's what I'm looking at. I've got call spreads on Ford. I'm selling bullets. I got a big position in Ford.Cause again, that one I don't have to watch and be afraid that it's going to drop 50% any second. But, uh, yeah, it's the wild west. It really is a, a real replica of how I, how I began this career. So I want to ask you about, uh, I know. I mean, you like to use that as your proxy, and I know you've made, can you put me on a U V X Y alert when you're, when you think this baby's going back to 110 K, let me see.Well, I got to tell you something. I, and I'm waiting for expiration. We were selling $270 Coles, you know, a couple of months ago on this thing, just like the sq Q the sq Q in the UVA, by the way, if you don't know the sq Q it's the UVX. Why have the. And we would just been selling premium on these because for some reason they say they have premium out in the 20 fives and thirties on sq mathematically.You can't actually go there, but the premiums there, but selling calls on that naked. Uh, but UVX is just, it's just awful. I mean, it really, once it goes into that contango, there's no bid on the stock and it, it does nothing by the way, the market sold off for what three days. And we've gone up every day since this market.It's just, it's the same thing. And they'll just throw some stuff at us where we're frightened for a couple of days. Inflation was the last thing. I don't know. It doesn't the market outpace inflation, so yeah, we're good. We're good. I heard, I heard somebody saying the Dow a hundred thousand in, you know, five or six.Two weeks, maybe two weeks it's it's it's, it's, it's, it's exactly where it's it's madness. But right now it's just keeping focused on the bread and butter. You know, I'm watching Facebook today for some selling, you know, and you know, just, again, there'll be a symbol that we don't know yet today and you know, maybe they're gonna run red box.I mean, they're running red box now. Yeah. That's that's a spec. Yeah. Wait it's Kenny on the BKK T for a second. Uh, so that was a mid day headline, I believe. I mean, it was already up all, it was already up all day, but, but it, uh, I think it halted and it came into the hall even higher. So like T tell us how you played BKK T on a day, like yesterday, that was early on at that I was on the road yesterday, so I'm in a hotel room and I'm doing my broadcast and we were buying it just on the idea that it was breaking V weapon around 12.So after that I was on the road the whole time. And that's when I just checked my phone at the end of the day and saw that stuck. I thought I was hallucinating for a second. Cause I was like, oh no, wait, not again, because it really, it was just a momentum breakout. So, you know, after it got to 17 and change, it all do consolidate all day, but it didn't break down.So then it was just a breakout at the end of the day, what was it around one o'clock and then it was with momentum kicks in again. And that's what it's all about. That's the reason that the combination of the way I trade now and the historical trading that I did back in, you know, 97 to 2001, it's a great combination of a skill set right now.So I'm using to keep me safe and sound and keep me, you know, liquid. That I'm playing the momentum burst. And then that's 1750. Dennis knows what I'm talking about. Blue sky breakouts, 1750, get to 2020 to get to 2250. It's still works. You hold it through earnings on Ford though, because it's got earnings on Wednesday.I'm actually scared. I am too. And I've had forward in my portfolios and seven bucks. I'm somewhat nervous cause it's supply chain issues. And you know, you see like I can't get this and I can't get that. And I'm like, we know that, you know, a little bit of that might be priced in, but I'm kind of scared. I think it's priced in, you know, what?They had a lot of open price to have a lead. They had a lot of a couple of weeks ago. They, they, they pretty much, pre-announced all that negativity and the stock rallied on that. That's why I bought more. So when it went down to 13 and change. It was positive news and it was going down negative news. The stock started going up.That's what I liked more about it. And so, yeah. And that's, you know, again, it's not a huge position again, it's it's Ford, what's it going to really do go back to 14? You know, it's like this, thing's not going down 50%. It's not getting halted. I'm not too concerned. Plus, you know, I'm always hedged if I hold a position, Sophie also same kind of thing.If you look guys, if you look at Sophie SOF, I don't know why, but there are $50 Coles on it for January. So I've been selling premium on that one. Again, anytime I hold a position I'm selling premium and for some reason, Sophie $50 calls or sorry with their forties or fifties, I believe it was a $50 call.And just give it to me. You know, I'll sell premium all day, like 15 cents, 15 cents. I got 20 cents from a couple of weeks ago. Just I'll keep selling premium. It's like, I use it as bait for my daughter. You know, if somebody wants to pay me same thing with sq queue, you guys want to do some math, sq, Q $40 Coles.Why do they exist? If you do the math?I can't speak for them, but so far it is a beloved retail stock. So that's something to do with it. Yeah, it's pretty wild. Right. But you're right. It, it sounds a little crazy to $50 in January, but you know, that's what the, if that's, if, if that's available to you selling premium works. So Kenny Glick hit the bid.com.The link is in the description. Uh, Kenny always applies your shirt twice in one week. Wow. I know. Let's do an earnings. Let's do earning season. Uh, we'll. We'll do some more, some most stuff in the morning. I, I, this is my favorite time of the year. Yeah. I know. I may have hit my Kenny quota for now. Maybe I'll have to let you know there's no, Kenny Kenny quota half ago on Kenny.Good luck. Good luck out there. Everybody takes Kenny. Kenny. Kenny is man. And he's fine. It's from my neck of the woods in Jersey. I love that guy. Come on her show. It's gotta be seven years, like right from the beginning. I think. Yeah. Uh, Doug, I think, uh, Brianna was the one that, uh, could found or, you know what, he might've been that you might've already been doing some stuff with Benzinga when, uh, when we started doing the show, great guy and he's got strategies.And like he says, you know, he plays around and some of this crazy stuff and it's fun, but you know, he's got his bread and butter is , you know, everybody's got their angle, his angles . So my angles relationships Joel's is the charts and the levels. Um, so everybody's got their angles and that's what you have to find.If you're a newer trader, you gotta find what works for you. You know, if you're great at trade and all this crazy stuff, I guess by all means continuing to trade it. It's not my cup of tea, not Kenny's cup of tea. It's fun to trade. I like trading that stuff sometimes too. Livens it up a little bit with mine, for my boring relationships.But my bread and butter is relationships has been. I just want to, yeah. I just want to throw it in here that, uh, we have, we gotta do a better job of publicizing it, but, uh, you could still get, uh, our webinar, um, on our site. You can go to it and just registered today and sign up for it. And people are just trickling in every day doing it.So go to pre-market prep.com and you can purchase that, that last event that we did on October 16th. And if you want to, the first event that we did as well, we're throwing a little, a little bonus in there. So go to pre-market prep.com and speaking of relationships, let's talk the K N because this stock is getting a lift here, uh, because they're not doing a deal, Spencer, what's the headline headline.They're not going to pursue a deal. Uh, yeah. You know, like an offer, a takeover, whatever you want to call it. Oh, come on. Now. My. Computer just froze up on me. That's okay. I got, I got your back. You entertain entertain. I got it. Entertain at home. Um, yeah. Uh, draft Kings. I, uh, th there was this one rumor deal day there come out via sec final scoring and saying, Nope, we've terminated those discussions with you.And you're seeing the stock lift up substantially. I mean, you've got back down to a level. Two is 45 level has all kinds of memory down here. D K N G. It's been a dog. Um, it's been one I've been wanting to buy for a while. I did get down dirty and rebuy some of my pen the other day. Um, because, um, I don't know.I, I, I feel a little bit of the reopening in there. It's got the sports betting, so I did buy a little bit of pen. I kind of want to rebuy the drafting steam. I got to chase it up 9% here this morning. Uh, but, um, you know, I it's on the watch list and it's a nice response to it. Full disclosure. I do have the pair on deacon G versus GNO G that's an Arab spread.I want to just make a point here. And we discussed this yesterday, uh, and I want you to show you PayPal, right? So they hit PayPal, right? Because they're thinking of buy-in, um, uh, parents, right. And they just murdered a stock. Right. And then they call it, you know, we're not doing the deal. Well, look at all the people that got stuck in that, that was traded much higher in the pre-market trading.And we said, Hey, it's, you know, it already, it started to fade. And I don't know if the Street's just thinking that PayPal was just so stupid for even thinking of doing that, that they just don't want calling the bluff. Cause when you read it there, say we're not looking at pins at this time. I think that they think that their eye Street's just calling the bluff.You're on PayPal and they're saying, Hey, they're going to acquire somebody and they're going to overpay. I think that, I think that's why you saw the rally fade without being set to 40 huge. Um, you know, obviously the market doesn't want to see a deal, at least not for pens, because that was clearly spoken with going down 5%.But I think that's what they were saying. Joel. Yeah, I agree. And then, so the only reason I'm bringing that up is you hit that just 53 boxes got 2 50, 2 95 over a half a million shares traded on that bracket. You think people are going to buy this thing back up to 53, maybe they will. We got a little bit of a lake, I'd say 50.If it breaks 50, he got some more downside, a long way to go to the bottom, to the top of Friday's range, 47 35. But if I think what's this, what are all these highs here? 50 and a quarter already above that, we'll see, maybe I'm wrong. Maybe they take it back up to 53 and it just keeps on going. But it just sees where the relief pops on these non-deal things are really hard to get the license.Yeah. It doesn't always come all the way back and we've sat and we've seen this on deals before, just because somebody snooping around, they slammed the stock down and they often don't get the losses all the way back. But I think the market still thinks PayPal is going to buy something and we know acquirers can get hit, especially on stock deals.So obviously the Arabs come in and I'll often at the acquire and buy the acquiree. So, but that's a risk garb thing to talk about. So we've got four minutes here. Let's um, let's keep moving here through earning season because there's a lot of this morning ups. Let's go to ups. This is a good one. Very nice one joy.Hey, I'm back in the office is my, is my mixer, uh, is my soundboard plugged in here. Okay. Yeah, I hear you. Oh, okay. All right. We have side effects. Hey, we're back. Okay. We're back. Yes. EPS beat 16 cent. Wait, let me pull it up in my pro one second 16 cents. I believe. Ah, no, that was the untested adjusted number with $2 and 71 cents versus a $2 and 54 cents.So they beat by 16 cents sales, 23.2 versus $22.5 billion. So it will be this company beads almost every single quarter. They also raised their consolidated, adjusted, adjusted, operating margin target for the year up to 13%. So some kind of a guidance raised there to go with the beaten to beat. And again, this company, they beat with the exception of code when they missed a couple of during COVID, but they beat almost every single quarter at the top.And the bottom line, try to get up to the all time. I said this morning, I didn't get there to 1959. The all-time high back from, I believe it was March or may. Um, how, how do we get y'all? Uh, we get, we snuck over to 16 on two different, 15 minute brackets, 16, 50, and 1644. What I'm gonna do here is I'm going to say, yeah, that's a good level, but I think it all, you've filled this gap here.And just because these two highs are still on my chart, I keep my area of interest would be. Two 15. I mean, you got it. There's two highs right there. 14 29, 14 71. So less resistance to me. It also more than filling this gap. A lot of people got their money back, so I'm not buying it. And if I was selling, I actually like it.I kind of like it shored up at your level, Joel, 14 to two 15. It's hard to just shorten the ring stock on good earnings. But you do have levels up here. I mean, above two 20, you got a, you know, when stocks making all time highs, you absolutely don't want to be short them, but you're coming up. You've come a long ways.I mean, actually stations. Like we go back seven days ago, this was in the gutter and all of a sudden it's up 20%. And I know this is if you're buying it now, I believe you're absolutely doing it backwards. Brown. I believe you're absolutely doing it backwards. Joel's got all the puns today. So definitely not chasing.I'm actually interested in the short side on this, but I have no position at right now hiring a hundred K workers. To deliver all those goods that are not on the store shop. That is a bit of a conundrum, isn't it? Yeah. You got to think like supply chain. If, if there's issues that go on across everything, that'd be delivering as much stuff you would think.But anyway, it's speaking of supply chain, we'll just take it to a segue and we'll come back there. And he sees me obviously going to get apple earnings on Thursday. Got my new apple iPhone. Oh, can you say, I obviously have been on a iPhone five ass or whatever it was or whatever the hell it was five.It's a version of the five I've been on there forever. And everybody's telling me you got to get new iPhone new iPhone. So I finally ordered, I go in Rogers, Canadian going around jurors order the new iPhone. They say couple of weeks. This is six weeks. So I call yesterday and I'm like my iPhone 12 mini a, you were saying a couple of weeks has been six weeks.Is there anything he's like, actually he's like, I've got one in today. I just got a 12 minis. Like, it's not the one you ordered, but it's sitting here and if you want it, I suggest you take it because God knows when yours is going to come. So that was his exact words. So seriously, that was his exact words.He, so it's, he's like, it's fire red though. I'm like, I like to know what I got to take. I'm like, if so I wanted the 1 28. It was only the 64. That's how much I'm settling here because I'm like, it may never come in. So I got my new iPhone it's fire engine red. I got the black case. They can just see the little bit of red there.That's the only part. You'll see Dennis we're twins, Dennis with twins. Oh my gosh, man. Spencer, what is your. What is that? Uh, I dunno, I got it last year. So whenever the 12 to you probablyno, it's not a mini, I don't know, on the mini cause I wanted it to be the same size. This is the world we're in. We settle in this world. It's such a world we've been so spoiled in north America. I know her Greenberg was tweeting yesterday. Um, you know, about the Walgreens lineups and you know, the labor shortage we're abs he's absolutely right.Her herb does some great work, but, um, absolutely right. We're looking at this, you know, from this perspective, north America is not used to not being able to buy what they want. When they want it. And we got to get used to this because this is the environment that we're in right now in the world we're in.And you know what normally I'd be like, yeah, two years ago, I'm not going to take a red iPhone, half the, you know, with the half the storage that the one that I ordered in this world, I'm like, okay, I'll take it. I'll take it. And you know what I'm like, is there a sale? Hell no, there's no sales on right now.You can't even get the dang thing. So it's a different world, a different mindset for the consumer, but I have a new iPhone. So that's kind of exciting, even though it's not the one I wanted. I hope now when I call you answer that that's well, because my old one, because I can take calls, but for some reason, I guess it was so old that they said they, they anticipate that my long distance.Wasn't working. Cause I couldn't really call out long distance. So I'd call Joel and it would pick up, but I couldn't hear him, so, oh, it sucks. Your phoneso it was time for a new phone. So we got a new phone value with triple D. Your phone sucks. It's your phone? Where are you at? I know, I always said it was Joel's new plan and it was me. It was me the whole time. So that's what I found. Pretty exciting, even though it's not the one I wanted, but we're in, you know, and then, so I'm taking this to the apple earnings, apple disclosure.Are they going to be good when nobody buy their phones? Well, weeks ago to buy a phone, they took it to pause it now. But I didn't actually buy the phone number. Remember they've already lowered the bar for themselves. I'm just saying when I went to Rogers, he's like, I'm like, what other iPhones do you have?He's like, I don't have any I-phones. This is a telecommunication. It's on the biggest telecommunications companies in Canada. If not the biggest it's like at and T Verizon equivalent, if you don't a Rodger, that's huge. It trades on the New York stock exchange under RCI. But if they don't have I-phones, let me use a lot of other, yeah, this is the iPhone seller.And either can't get them in. I got to think that apple, I got, that concerns me on holding an apple through an earnings report here. I'm obviously holding my longterm shares, but maybe I should put a hedge on, I don't know. What are your thoughts pounded the last couple of days? Well, because they don't have any I-phones for something.I actually don't know the headline. I made that up. Difficult apples com it's battled its way back halfway, you know, from the, from the all time high, I mean, it runs, this is like your, your pattern that you've seen an apple will that pattern persists. We talked about this on the, uh, on the webinar. I mean, the run into the Q3 report went down, eventually came back up.Then you had the, uh, Q2. I mean, it happens. I mean, they, they, their quarters are a little bit different, but it's had a really nice run. And if it goes with its historical patterns, it kind of sells off a little bit after. Yeah, I guess here's the only thing that, that the question you have to ask yourself is do you think that they're going to come out and lower?The, and what were the bar. Or do you, or, or do you think they're really going to repeat what they said a month ago? Which was, yeah. W w we're we're not going to be able to, you know, sell as many phones, uh, Julius. He said that a month ago, do you think they're going to come out and say, say, oh, oh, our bad, it's actually worse than we thought.I think it's more worse. I do believe it's getting worse. Are they going to just repeat themselves as we told you, you know, it's, it's, it's tough out there for iPhone maker right now. Um, but what if they come out and say, uh, you know, our cars really moving along or something like that, that would be something, yeah.They're going to have to do something like that. Then if they're missing earnings, but I don't know. Like, I just think if I can't get the iPhone that I want and the guy saying, take any iPhone you can get right now because we can't get them. They're not, you know, they better be a very low bar in there and maybe it is, but they might come and underneath that low bar, I'm actually very, very concerned on this apple.I'm actually very, very consuming sample and I'm long apple Foldscope, that's why I'm concerned. I probably wouldn't be thinking about it this much, but. Um, I'm nervous about this report. I made Thursday, Thursday night. We got a couple of days to talk about that. Wow. So do I have to hedge or not to hedge?That is the question got two days. I will take the other side of this tray, Dennis, you're going to go along. You liked the apple court. Do you think the bar is low enough and it's all priced in th they only, the bad news is already out. We already know. It's not like it could be very well be right. Yeah. I mean, like, what are the odds like apple has always had a pretty good feel for things like, you know, when they say something it's pretty believable, like they have a good feel for their business.Um, you know, th they're not constantly raising and lowering and raising them altering expectations. They have a pretty good, pretty good feel for things. So when they came in a little with a bar a month ago, all right, that's fair that, you know, I think they're not going to do it again twice. Maybe it's all priced in.Maybe everybody expects them to not sell very many iPhone. Their iPhone sales year over year are not going to look pretty. I will tell you that much because if I can't buy an iPhone and I'm like the last person to buy it, no, no, but you did. They had one, he had one he's like, I got one 12. He's like, yo on it, it's not your phone, but it just came in.Somebody is going to buy it today because we don't won't have any by the end of the day. And I don't think he's trying to hard sell me on it. I really believe that, you know, obviously I was already a customer, so I had already put a deposit. Joel, what's up. I was just going to say, uh, I mean, they miss for EPS.Like one time since they missed a few EPS, they missed me with one time stint. Can you pull that up revenues tenders, but date, they rarely miss on APS. Bring it up.This is apple going back to 2012. They missed. The second quarter of 2016, they better not miss, uh, they miss this time they missing the third quarter of 2012. That's the only note that this company, yeah, they never come in below the estimate ever. That doesn't mean the stock has to go higher, but it just means they had a good feel for that, for, for their business.So anyway, I'll take the other side of that from Dennis. Uh, quiet here. I mean, just nothing going on here. We just have this set for the apple store, but just like, uh, just hanging up here. Well, it's been a pretty good overnight rally and we do the majority of the moves, you know, w we don't have a lot of macro stuff really happening here right now, driving stocks up.And now we're an earning season earning season as the driver. It, we did get Facebook, but, you know, it's had a lot of time to digest and we don't have, you know, we have some names this morning, don't kid yourself. There was some earnings reports, but tonight is really the night. Like, I mean, when you get in Google and Microsoft and AMD, this is a big nighttime Twitter.It's a big night tonight, at least for tech. So I don't think. That, you know, you don't have a hell of a lot of, you know, individual stories really driving us all over the place here today. You just got the steady grind north here in the spy. So, and that might continue like Facebook, even though it's muted response really.I mean, they sold it off, they rallied it up. Now it just kind of hanging out. So, and it's been really not moving at all here in the last Facebook, wherever your driver. And if you bring up that Facebook chart, it's like me that's for the last couple of hours, it's really gotten nowhere. Yeah. So, uh, but let's go to the biggest, one of your biggest losers of the day here is lodged attack.They had it running overnight cause they report over there and over in Europe here and there, their earnings per share missed a buckle five versus a buck 10. Uh, their sales came in a little bit higher, 1.3, one of us, $1.27 billion. So be a sales beat EPS, miss, uh, they did a reaffirm their sales guidance for the year at anywhere from down 5% to 5%.Um, and the stock has gone. I just got to respect to pre-market low for the admin. You could respect these levels. 82 to 84. It's already traded a lot. So this is already priced in Europe too. So we come in a lot of mornings, 8:00 AM and it's price discovery. This is not home price discovery. This was priced discovering at three in the morning when Europe opened so completely different story.It's a 3 cent market here right now. It's tight. It's trading just where it is obviously over in Europe right now. So it's following that price. So don't expect a big bounce back. Don't expect much. It's kind of priced where on the European sessions, half over. So that's where it wants to be. Uh, the other big Lewis we've got here is Lockheed Martin down.I think 8% this morning, another bad one for me. EPS B, sorry. Jenna. CPSP sales, miss guidance came in. It looks like a little bit of light on the guidance front. Wow. So I'm in this from 3 25 or three 30, uh, long-term account put in the long-term account. Try not to look. It's I've been up here at three 80, a couple of times.And given it all back a couple of times, it's one of those, like FedEx did that to me. I remember I'd be up down at, and like finally just get fed up with that. So obviously disappointing semi long-term accounts down 8% here on the earnings. Um, holding it because it was a long-term investment. I looked at the big run ahead and earnings.I knew the expectations were a little bit high, but I did not hedge. It should have a hindsight. Capital's 2020. And I, that down seller stepped down seller right now. Yup. That day there's a, there's like, like when they used to supply chain stuff. Yeah. When people, that's the naughty word right now, that's the naughty word.You can't say that, but I will say, let's see what happens at 3 45. Here we are trading below that right now. But look at that 1, 2, 3, 4, 5, 6, 7 lows in the same area. It's traded 110 K. I keep an eye on that, on that 3 45 today. But right now someone's got their pedal on the metal, forcing it lower. This will be a good one.Uh, you know, keep your eye on that. 9 29 and 59 seconds. And then a good example of that was a pins from yesterday. And, uh, you know, you had the, this go to Penn, Cisco back from yesterday to illustrate this point. So here are Yar. These are the, this is where the change over is from the pre-market with, are they the only people that give you this kind of look, look at this.This is just before the open, right? This is what is your pre-market law? And then boom. At nine 30 came down right here. 49, 10 was the low of former low. The move was off like 49 0 1 and then it caught a bid. So they defended it here at this level. Couldn't get a lot of the losses back, but, uh, at the same day with Lockheed Martin, it's a 340 $350 stock.So not quite dead liquidity, but we'll see what happens. 3 45, no war going on. So, you know, I know you think.They're going into space though. We're all going, how is, uh, how is a space travel doing how's M S P and I would at the lows, but you know what? You look at this and you think, okay, well, we've had a lot of these smaller retail names start to pop here. This is not been participating. So that's one somewhat concerning, but you have setups and we talk about setups and in $19 is your stop-out.So it makes new lows. You got to go. I never want to be a stock banana stock making a new low on the move, but you've got co it's five, six days of consolidation. The problem is there's so much overhead supply, so it's hard to just say, okay, yeah, it's going to turn up because everything else is turning up.And that might be the case. A rising tide does tend to lift all ships. It's stopped going down, probably because of. The question is, does actually start going up. I don't know. There's probably a lot of easier places to put your money. Uh, I just think about the news flow on Baba. No, we haven't come in in any, um, any China head slaps in a while and look at that thing is back up.Ooh, this is 180. This is interesting to go higher because no news, just the absence of news, and this is rallied. Stop giving us bad headlines and the stock can actually start going up. Yep. That was saying D D got a little bit, uh, move up, but um, yeah, no, no bad headlines and stack them up. So there there's where here you're not looking for news on something you looking for.No news. Should we spend the obligatory minute on 10? Yep. Sorry, obligatory. I mean, it's, it's a fact. It's so incredible. I said it yesterday on the show. I said, it's got a thousand on the brain. I'm thinking I was doing it yesterday, but it did. So, um, I don't know, from this point in time now, it's just, you know, this is upside capitulated.To a certain extent, but this thing can go anywhere at once. It's wide open. It doesn't trade on valuation. It trades on story. The story is still hot. I mean, the Hertz, you know, was the catalyst obviously to break us out yesterday. And you think about it a hundred thousand cars is a lot of curves for Tesla.You know, somebody was saying that was 20% of their sales from last year. So, I mean, that's incredible to think about, but I don't know if that stat is actually true. How many curves did they sell last year? Is I read it on Twitter. I'll look it up in the pro right now. Let's see. So last year, P you know, yesterday, I mean, I don't know who is still shorting that stock, but Dade has got blown out of the water yesterday.Not a short, hot stories. Write this down. If you learn anything, don't start looking at valuation and tell the story cools off because valuation doesn't matter at all. If the story is hot, it doesn't matter. It doesn't matter. Stocks making new all time highs, you don't short stocks making new all time highs.It's the way you get ruined because it's blue skies. They can go anywhere. They want. Tesla has not trade on fundamentals basically ever. So it's a hot story. I mean, it's the same reason. I don't short AMC and GME because those stories are not as hot as they were, but I don't, you know, you know, short, you know, you can't on valuation.I shouldn't say, you know, I wouldn't sweat the stocks, but I wouldn't just look and say, oh, the AMC and GME valuation makes no sense. I'm going to short those stocks. Well, how did that do in January? So you've got to separate it. There's a time and a place where valuation does matter when stocks are making new all-time highs.That's not the time to be stocking. Uh, last year, Tesla sold about 180 and a half thousand car. That's where they, they delivered. Sorry. Uh, no, I'm reading for Q4. I'm sorry for the whole year. For the whole year, they deliver it a little under half a million cars. So there you go. So that's 20% and they produced about 510,000 cars and they delivered about 10 grand.And don't ask about how they're going to pay for it because it's it's by now and pay later,I'll pay later. And then someone mentioned that, uh, they get a $4 billion order. Added a a hundred billion in market cap, you know, something like that, something crazy, but, uh, the only number that's really, I mean that 10 45 0 2. That's a nice number. You may very well see it today. I got to imagine some people are looking at dad mark at 10 24, 86, marked $113 over there.Uh, uh, over the all-time closing high price. I mean, there just may be a little selling in this, just for your portfolios to rebalance some portfolios. That would be like the only reason I know Kathy was doing that lower, but the only number I can give you there, 10 24, 86, all-time closing high for. Okay, let me do this and take your time here.There's a bond to take her as being thrown out on the chat that we haven't discussed. A couple of people have asked about X today. I've seen a couple of like two people. I asked if I'm still in it. You know what I don't know, actually, you know, you have a lot of stocks in your long-term portfolio. If you can't remember.I was in it for a bit. I don't know if I got in it this time around, so I know I'm in Cleveland cloud still, which it's had a big move. That's obviously that's a big move. And I was actually thinking about ringing the register on some of it was just because it's been such a big move in three days. Um, the U S.I don't, I don't think I'm in it. I'm in new core for sure. I'm in Cleveland close for sure. I'm not sure if I'm in the X. I have to go look. Sorry. Yeah. Nice. Move up. 21 cents. You snuck over twenty-five. This high is 25, so I would keep it at 24 98. Maybe there's some, some paper there at 25, but, uh, that was, uh, uh, the site where you fall off.I don't know if there was earnings or a downgrade or whatever, but, uh, keep an eye on 25 today and things look kind of wide open in a, in a 25 handle. But, uh, see if there's some paper there at twenty-five gifted down yesterday a little bit, but now no rent run it into it. Um, okay. W was a bunch of tickers flying now.Let's look at, I'm trying to find an interesting one. All right. I don't know. You want to look at Etsy. It's just breaking out to new highs again. Um, well, okay. This is an anti supply chain story, isn't it? Because there's obviously they're making, we're actually have people making stuff over here, so they can't get a good gift and your store shelves are empty.That's true. There's people that are making stuff on Etsy. So I think this is, you know, the way that you play the shortage of supply in so many different products. So I, you know, it's breaking out and obviously justifiably. So I will also say that that same thing I just said, stocks are making new all time highs.I don't want to be short. I may want to be long them. So on pullback, I'd be a buyer of valuation. Doesn't matter because it's making new all time highs. It will matter. One day doesn't matter right now, new, all time high, uh, by 11, 10 and a half bucks, dude, all time closing high by about 11 bucks. And your volume went up from 1.9 million to 3.5 million.So. Big volume and the favor of the trend. I don't know if I would be looking to pick a top in this one today, 53 0 5 to 5,305 would fill the gap from yesterday, but maybe if it keeps going up and the volume starts to taper off, maybe it will pull back. But, uh, man, not a lot of fresh lungs in there yesterday.Uh, Brian, I see you asking about P R O G. That's not really Perego. That's not Parago. No. Uh, it's the new, it's the news penny stock of the day. So, Brian, what I was going to say was not really top a T here, here, um, PRG, I would just say, you know, watch the all time, watch the pre-market high 6 46, but uh, wait, I, there was one moreif you go to your gainers, we did this exercise yesterday. There's always going to be like Kenny was saying four or five little stocks that are under five bucks that are ripper and higher. So if we go to the leaders today, number one is WPX. Um, I don't know what the story is. There all box, all box out of Spock.It looks like back of the day. It looks like a spat back going up like crazy SPACs are back. And he's absolutely correct. There's certain specs that are just rip roaring every day. Um, our D B X. Is the number two, that's a spec, two specs or back. So look at number one and number two are spots or that worst backs, QoS number three, M E T X 50%.It's a 38 cents stock. Don't want to be short 38 cents stocks right now because they go to 58 cents. Um, is, uh, the number five stock up 43%. That stock has been all over the place today. It is trading so fast, 11 million shares have already traded in box this morning, and it's not even nine o'clock.Oh, yeah. Oh yeah. That's it was a movie yesterday, too. Yep. Back man's back attack. 4:00 AM here. The 4:00 AM was the, uh, the high, so 60 0 1, you hit that in the opening bracket. 52 0 3. So I don't know. Might have a hard time. I'd see. Wow. It's 17 bucks off that high high, then I'll call the high. I'm glad to stand on this one.I don't think you see 60 bucks again today, but. Trade at your own discretion on that one 17 bucks away. There's a lot of people that bought this 50 handle, they're thinking, oh, what am I going to do with this? So we'll see what happens. 40 looks like a little bit of support. Uh, you hit that a couple of times after coming off the high.How about upstart here? Ups team is what do they do? Significantly off the high from a couple of weeks ago. 4 0 1. It's uh, you know, we're now down to the middle. Uh, upstart is a new weight. If you asked that on purpose. Yeah. Okay. I'm just checking. I'm starting to FinTech. If you don't know, I'm starting to, as it's a FinTech play,he's been on the show, Dennis. You were out that day, I think. Or maybe how can you remember that? It was at the close of Joel and Joel made fun of him. I asked y'all if we should get him on the show, Joel said. You can, if you want. I I'm sure. You know what the best that he should've just said follow a momentum, momentum stock.That's yeah, look, you couldn't argue with that, but that's what maybe, you know, what they do, Joel,if you don't know what the company does, so I'm going to you're right? Yeah. Can't overthink it. If you don't know the valuation don't know the fundamentals don't know what it does. I mean, JC Brett's doesn't care anything about any of the fundamentals, so, and he does very well just straight and pure technical.So know what, you know, what you like, you know, I like to know the fundies. I like to know the relationships. I like to know that this stock is going to move with this stocks moving, but, um, there's a lot of good technical traders out there that just use technicals and could care less with this stuff. All right.What else we got, uh, got a couple minutes. We just got a headline here and, and I don't know if it's relevant, but I'm going to say anyway, uh, uh, in, in addition to a social media platform, uh, Trump also intends to launch his own on-demand streaming service. So I pulled up the whack in theory, this should not move the stock, right.Because it's nothing, it's a different company. It's got nothing to do with w but that's just in theory, this is not moving off of, this is a silly world that we live in. So I think it's trying to do everything that company, somebody, it was, um, it was her body that was on CNBC and he read the actual, like, um, what do you call it?That, uh, yeah, he read the notes for the company and what they were proposing. And they had all that in D whack. They were trying to be the, everything. Okay. Yeah. Yeah. Well, we had, we had Chris catchy on live, creating, read it, read the presentation to us as well. I think maybe that if I'm remembering now vaguely, uh, that, yeah, that had that in there too.It was in the deck. Oh yeah. It's the company. That's going to take out everything. They're going to be the social media. They're going to be your streamer. They're going to do everything they'll even support. And they'll even fix all the supply chain issues D fixes everything and maybe they'll come up with a vaccine.Might do that to the anti-vaccine. Maybe. So anyway, direct Dave has gone up in the last couple of minutes here and a hundred percent off that headline. Yeah. That's fair. That's fair. I guess I thought maybe not the same thing, but I guess you're right. It is your call. Another inside day, Joel. It was an inside day, another inside deck.Third inside day. It's like quite the range 40 point range. Uh, if you want levels on D wag, uh, email me Joel at pre-market prep.com and we can work out some financial arrangements, stay tuned to our next show, live trading with Benzinga. Maybe we're going to be J maybe I'll trade direct again, whack, uh, but not likely.So, all right. How did funding?The no one knew that was going yesterday was, uh, mark murky. Mark. Yep. Marky mark. And the funky bunch. Yup. M a R K. Holy macro. I think it was like, where was it? Pre-market Joel. Wasn't it like eight or nine bucks? Pretty much dead. And the market 10. I don't know if we market it, did it. Did I just missed it?Just missed it. Just shy of 10 P. That's why the circus is in town. When you're a dollar to $10 on stupidity, you rang our register. Oh, big volume on that bracket to Dennis had died. Oh, oh, some people got stuck. I'll look at it. Look at the volume in this thing. This is in a funky bond. Look at that. Look at that volume.That was training. Holy mackerel. Where do you go with that? All right. I'm going to, we missed a lot of symbols here and I'm going to hop over to pre-market prep.com and cover those. Also, if you missed that event, it's still available. Just go on the site, you can sign up and register for that. So, alright, Spencer, be with you later on.Go get triple D. I want you to dig out. I want you to get your shovel. I want you to dig out. I think you can, new iPhone. I'm going to use that and I'm going to dig out of this with my new red I'm Spencer twinsies. I'm going to, I'm going to dig out with this iPhone here when he's some crazy, um, where you know is the craziest dock of the week, right?Um, we're going to have the CEO, sorry, the CEO. Uh, Phunware Randall Crowder at our Benzinga small cap conference, not tomorrow, but Thursday, Thursday. I think if memory serves it's like two o'clock I think, uh, regardless BZ, small cap.com. All right. Look at that. BZ, small cap.com. It's going to be, uh, nine to like three 30 tomorrow and Thursday.Uh, so check it out. We are also going to give away a free one-year subscription of Benzinga pro to anyone who participates in our survey during the conference. So, uh, I'll be there tomorrow. Uh, very exciting stuff. So, uh, with that said, it's going to be a wrap for our show today. Live trading with benzene.It's going to start when we're done here, we have a full day of shows. We have specks attack making its return. We have, uh, our, our new midday show. I, I don't, I don't know if we're going to call it the power hour anymore, but like our new midday show, uh, with Erin bringing myself, uh, at noon. Got a great show prepared today.We got the roadmap, our NFTE show at two o'clock. I'll be back with Joel at three 30 and a money match at four. O'clock got a lot going on today, a lot going on. Very exciting. Okay. That's a wrap everyone. Good walk at the open wive training with Benzinga starting in a couple of minutes and, uh, we'll see you over there.Stay green Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Market RecapHUGE BENZINGA News!PaypalTesla2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Tim Quast, Market Structure EdgeMeet 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 Transcriptgood morning. Good morning. Good morning, everybody. I am back in the office. It is exciting to be here. Good to see you guys in the chat. Kevin bill, big D Muhammad, Juan donkey. Dave James, throw it away, Nick. I can't go through all of you right now, but it's great to see you. It's great to be back. Uh, we got a lot going on today.We have like, we have market news. We have like the usual stock market news, but today might be the first day in the six years that I've been here that we actually have. Benzinga related news. Yes, we are the news today in case you missed it,Berenger capital has acquired a majority stake in Ben Zynga. It is very, very exciting. We will hear from who else, but the man himself, Jason Resnick at some point in the next hour, I can't promise you when he's here in the office, he's in a meeting, he's a busy guy. He's got a lot going on, but at some point before the hour is up, I promise you we'll have Jason Rasnick on this.So those are you going to ask him where he's been? This is where he's been. Apparently he has been making moves, doing deals behind the scenes. We've got a lot going on here. All I want to know is stop. Yep. Am I going to have to buy a car? I actually gonna have to buy a call. Timeout. You wait, you want to say something funny?Yeah. I think this has already got into Joel's head. This has, this has got, this has got a way too far, Joel. Let's look at this Joe Hall, come on. This is what's hot. We're now suits are we suits? I'm wearing a space shirt. I haven't had a comb ever in my life. Everybody makes fun of my hair is the hair indicator.And you're a suit and tie. Now it's all suit and tie. You were working behind the scenes of steel the whole time. Mr. Alcott. I did just real quick. I had a tie that I've never, that's unbelievable. I don't even think I'm in trouble here. I'm in trouble. Okay. Here. You know what? We might as well, just go crazy with it.So everyone grab yourself a nice glass of champagne or whatever. You've got poor porn. I am not prepared for this. I will tell you that much. I did not cut my hair. I did not shave. I'm wearing a space to you. And I have no champagne. I am not prepared. I'm S I'm definitely underdressed. Mark. I'm definitely under dressed for this party.We were going to ask Jason, if we're now a suit, but Joel would, he is a suit. Apparently, apparently that's been answered. We got to get suits, jumped the gun on us. We got to get suits. I hope you guys don't get sick of seeing this blue blazer problem. Joel, you've never looked better. Pre pandemic a blazer here.Uh, I don't know what else I have in my closet. I was scrambling. No, but, uh, let's get the charts out. Let's go to the market. Let's take this to the markets where I'm more comfortable. I'm uncomfortable with the suit talk and Combs. Take me to the market. Take me where I know something. I, even though I know.No right. Let's go to the futures are traded up six and a quarter handles at 35 42, 75 little dip after hours. Cause a triple D took off to celebrate his anniversary. He didn't support the market, but uh, all's would need to do know is the high for Friday 51 50. So that's our target on the upside and to make a new, old time closing high, we got to close above, uh, 41 75 crude, tried to bust into the 85, handle up a buck 15 at 84 89.Gold having a good day up six, 10 at 18 0 2 40 silver into green by 2.60 cents 24 47 Bitcoin on the rebound that's up 1820 at 62,900 and a theory that's up $143 at 4,137. And those are the futures, but, uh, what's the top news story. Um, pins not getting bought. What do we got? Probably got, well, it's hard from a Sergeant.Vincent. It's probably the Pinterest PayPal thing. Yeah. Um, in case you missed it last week, there was a report that, uh, PayPal was maybe sniffing around in Pinterest for maybe 70 bucks a share. Well, it doesn't take a genius to figure out what happened next. Right? Uh, the market did not like that headline.So this morning PayPal comes out and says, Hey, nevermind, we are not pursuing this acquisition. Everyone go back to your business because there's nothing to. I mean, this is what we talked about last week on the show and saying if PayPal comes out and I never understood the reason that they were going after Pinterest, anyways, it made no sense to me.I was obviously very skeptical of it, but I said, if PayPal says no to this deal, you're can see Pinterest tank and PayPal rally significantly. And that is exactly what we were getting this morning, PayPal up 13 points on the no deal and pins down significantly. Now, one other thing to consider here as well is they kind of gave Pinterest a little bit of a pass with the bad snap news next week.Yes, it got hit a little bit, but not nearly to the extent of some of the others. We know Twitter was down. Pinterest was still somewhat holding up because they had hopes that there was still going to be this potential deal. If that deal is off the table. And obviously you don't know, maybe it can come back on the table, but.That obviously now you've got to look, okay. Well now you're under the social media environment. Obviously snap, you know, has, um, you know, had put out bad news last week and Pinterest and Twitter would have obviously trade down with it as well. So Pinterest actually coming all the way down and now making new lows, two things to be learned for newer traders on this.When you chase rumors and the rumors don't materialize, you lose a lot of money. Obviously people buying up at 63 65, 66 on Pinterest. I believe it was even trading higher than that at one point in time. Um, and, um, you know, now giving it all back, so stock right down near the lows. Uh, I don't know what to say.I would say PayPal was probably the better play because it's a stock that has been loved for a long time and selling off 30 bucks because nobody got why they were going after Pinterest. Obviously the market didn't get it. It was pricing. And you're getting the bounce backs. So this pinch does PayPal go right back to two 70?I don't think so, but I'd be interested in a dip on this again. There'll be maybe some people still concerned that they might be snipping around maybe at deal rematerializes but nice lift for PayPal. Yeah, pins. I mean, you're, you're returning to the scene of the crime right after the, the big gap down after earnings.Last time was 50 bucks. Do the, do the bulls. Do they want to come in here and fix. You know, and support the stock to monthly lows in that area. I won't be one of them, uh, next monthly, low man that doesn't come in the lower 40 handle. So I think you'll have to drill down on your dailies to find something else, but, uh, let's just go right now with the pre-market law right here at, uh, 49 on five, as we speak, keep an eye on your low at 9 29 and 59 seconds and see if the bulls want to make a stand here.But a lot of people buried in this from the move yesterday, PayPal we talked about too, and they pounded, but never in order to get back to where it was before needs to get up to two 70, it looked like it was busting out just above 2 72 pre-market high, 2 58 and pins. If you're looking for file through and the upside currently trading 53 and a half.Okay. Can I, can I ask, was this a case of somebody at PayPal? Floating this to see what the market would think. Do you think? Oh, I, I wouldn't be, I wouldn't be surprised that companies, I don't know if that's the case in this case, but I wouldn't be surprised if that does happen out there. I think deals fall apart sometimes because of a market response.I do believe that. And you know, a lot of times you see, like, okay, yeah, you know, you, you we've seen it before where even with like, you know, like a reverse split or an offering or something sometimes. And, you know, sometimes it's because we don't like the way the market is responding to this news as the market is speaking, what it thinks of it.And I wouldn't be surprised if it has something to do with it, to be honest. I mean, you watch your stock fall 30 bucks and everybody's like, and then you see the snap news last week that probably didn't help over the weekend. You know, you see obviously snap getting beat up and it's like, what do we really want to pay a pin?Uh, right now for Pinterest, when some of these other companies might start to struggle, especially after the snap headlines. So I think that maybe has more to do with it than maybe the PayPal response, but there's a few reasons to be skeptical of this deal. And the skepticism was rewarded here this morning.If you were shorting the pops on Pinterest, you're making some money. Okay. Let's move on here at, let's talk about Tesla. Uh it's and the headline this morning is actually crazier than we thought, because the headline was that Hertz is going to buy a hundred thousand Teslas. And then I just saw a minute ago that.Has brought on Tom Brady. This is, this is true to be the spokesperson of there. We have Teslas come rent cars with us ad campaign. Wow. There's big. And Hertz is making moves this morning, but if you pull up that Tesla chart breaking out again, and I was talking to my by sheer coincidence was talking to my dad last night about Tesla.He said, he's got a little piece. He said, I kind of want to sell it. I said, hold on. I said, hold on. Wow, dad, if you're, if you're watching, I don't know if you are, it's time to move off of that. Stop a little bit. I think, cause that was $50 ago almost. And you know what? No matter how you interpret the headline, you can say I'm asking the same question as somebody with.I don't know how Hertz is affording a hundred thousand Teslas when they're coming out of bankruptcy, but I kind of like it, you know, like I think about it, it's like, oh, I'm going to a rental car company. Oh, let's go to the tonics. I'll rent a Tesla. I mean, it's kind of cool. I never, you know, I've driven a Tesla cause my one friend hasn't RAs has one too, but I mean, I rent a Tesla.If it's, if it's not like a premium price to pay and they're just bringing them in, I think it's a good angle. So you're coming out of bank street. You're trying to emerge. I kind of like it, you know, from, uh, not that I'm going to go up by Hertz. It's no doubt. Good for Tesla. I mean, they've got the name, we've talked about the stock we talked about last week saying, I mean, it's just keeps going up.It's really driven by story. Here's more to the story again. Why can't it go to a thousand? It probably is going to a thousand. So, I mean we're 9 49 now, just like Kenny says, stock goes to 800, 8 50 to 909 50 off and gets you a thousands of going straight there. I don't know if it's going straight there, but I got to think four digits as eventually in store for tests.Hard to fight the trend. I'm refraining from making any former Hertz commercial jokes. I can't even remember the Hertz commercials, Hertz commercials. I don't remember. I can't even look at Joel. I gotta bring him off the screen. It isn't a suit. I don't even know how to even look at them in a suit. It's like weird.It's like we got some, you know, it's really important. You know? Not that you're not this, you're not important, Joel, but man, I like look at him in a suit. I'm losing my train of thought. So what were the Hertz commercial? I don't remember any, it was OJ. They going back a long time ago then even I've seen those what's that before the whole glove incident.Yeah. He used to jump over. You show him, run it through an airport. Jumped in. Oh, I do remember that. I didn't realize it was Hertz though. Oh, that's. Uh, what can I got a small plus don't fit. You must acquit. Yeah. Yeah. Did I ever tell the story about, uh, I was on the oldie trading floor and there was this guy, I think he was name was Steve Schuster.Um, and he was going around and he was getting odds that he was going to get acquitted. And I mean, he, and he was getting odds and he was laying out big dollars or people are laying up big dollars and I'm like, I, I didn't know. I was just, I was unsure. I'm like, why is he doing that? You know? And, uh, sure enough bad that the verdict came out.And I mean, people literally wanting to show. And I think his name was Steve Schuster, but it was just like, when it looks too good, man, sometimes you got to step back from that trade. But, um, anyways, I don't want to see, my lawyers will say that. Yeah, I'm tryna get the highs of the pre-market session, right?9 53 19. How much else you can say about that? I don't think we're going to fill the gap. We don't, I don't short stocks making new all time highs, ever. Rocket ship mode right now. No blue skies, herd. I don't like chasing by like Shorenstein. I mean, three days it goes. Joel, you have sheriffs, still your wholeness forever you to the grave with your sheriffs.We can't afford to pay that tax bill on this thing. Now it's all gain. So you're stuck in that. You know, where he, when he get up too much, it's like, okay, I can never sell now. Cause they can't afford to pay the tax. What, uh, what is it? H T Z a it's like 25 letters. I'll tell you. And because it doesn't trade on an exchange trades OTC, there is no, no it's H T Z H T Z zebra and 24 69, the clothes there's some bulletin boards, somehow trading at 26, 27, an odd lot went.I'm not sure what those are lately or what that is. I know you see that sometimes on these posts. I don't know, looks pretty real. I know it's an odd lot that somehow was on bulletin board posted there, but I would think. This is good news for her. So I would think if you own shares, obviously OTC, Amex. Um, I would think it goes up on this, honestly, cause I, I liked the angle.Don't you like the angle, Joel? Yeah. I mean, it's a, it's definitely, if you want to run a car and he doesn't want to drive a Tesla, you know, why not? What are they supposed to get on DNO? Oh, that's a good question. I don't know. Here's what I do know. The purchase of a hundred thousand Teslas represents for Tesla 4.2 billion of revenue, but that's all we are.This is the light on details. It's a great question. How are they paying for it? All we know is they're supposed to be according to Bloomberg proceeds, according to Bloomberg, supposed to be delivered over the next 14 years. That's what Bloomberg reports. This is a, uh, yeah. Heck you don't even have to need to rent a car.You just have to want to drive a Tesla for a little while. Right? I mean, it's a great idea. They've got Tom Brady. This is a win-win for Hertz. Yeah. Well, what was the calm Brady news? It just say that one yet. You said he's like, they're going to be their campaign spokesman for the they're going all in all in.They're going all in. I kinda like it. I kinda like it. I'll go with it. I kinda like it. It's kind of genius, but I'm not buying Hertz probably, but good for Tesla is no doubt. It's good for Tesla. I think it's good for Hertz as well. So we'll see what materializes. Um, it's a big move for Tesla this morning.It's up 4.1%. We've seen precedents when you get a big contract, sometimes you know, that gains can fade, but the things that all time highs, the story is hot. We're in a retail driven market, which is being driven by stories. So as we can see, obviously from DWC, if that is still the case, so hard to be bearish to stock valuation, doesn't matter when the story is hot and tells the story has never cooled off in a decade.So you don't have to worry about valuation on it. At least at this point. Short-term target 30, 15 a year, October 7th high. And then that's. Yeah. That's not even the old time. I, yeah, 35 is the old time high. It came when it came out. Yeah. So those are short, obviously. No pre-market trading spoons. Just moving up towards that high from Friday right now, we're up seven, three quarters at 45, 44 and a quarter.This is, this is what test I can do though, because on Wednesday closed at what? Nine, no, 8, 8 1 8 58. Uh, it closed Wednesday at 8 63. When it's breaking out to new highs, I don't fade. Sometimes the breakout can be a fake. I'll tell you I don't fade Tesla breakouts. And if you were brave and dispenser to your 0.6, seven days ago, this started breaking out through the triple top at 800 and it has not looked back.And if you're playing that breakout, you took zero heat on this we're up 150 points in a matter of seven trading sessions. So congratulations to the balls, Tesla count, killing it at least on from a stock price. Yeah. That's exactly right. Okay. They all want to talk remark. We get talk. So we're going to have Tim croissant in a few and Jason will be on at some point as well, but yeah, let's talk that stuff.There are, there is a never ending. It would seem a never ending a growing list. It constantly growing the list of stocks that seem to be either related or have rumored, probably not true relations to the Trump's back DWC. Right? Last week we had fun where, and, and now, uh, and there's others as well. And now the one today is mark.I have yet to, to find any tangible. Proof of anything that there is any harm remembered. What is being rumored on social media? What is the driver? What is the headline here? But they got something cooking up with DWC. That was what the rumor was. You chat. You want to help me out? All I saw was that the CEO of remark, which is ticker Mirk, uh, is, is friends with like Donald Trump Jr.But I don't even know Chad. So some of this stuff is literally just made up on social media. I'm not joking. Some of it might be real. I don't, I have no idea if this is made up or real, I'm just saying. That we're in this market environment where, you know, obviously anything to do with Trump and DWC right now, we saw Phunware last week is going to get bed.So somebody either knows something or started a rumor. We don't know anything. So we don't know if it's true or not, but wow. The stock, which was in the gutter and basically at 52 week lows two days ago at like 75 cents 90 cents is bailing out every bag holder from the last two years because it's stock.Obviously you had the meme run back in 2017. Well, I had the meme on, oh, no, it was a burst that I had the COVID run. This was, this was the one that was going to do. Wasn't it? Remember, we were talking about this and wasn't Portnoy in this too, mark. Wasn't it like a, something with the 3d cameras or without not with, uh, no.With the infrared, not 3d cam with infrared technology testing for COVID. If it was, it had to have been back in February, but I honestly don't remember. There's always a stock like this, like Kenny was saying, there's always something that gets hot. I mean, social media is a driver of price. You have to respect it.Whether you believe the rumors. You have to respect it. We did a, you know, we did a session on our educational event a week and a half ago talking about, you know, how to play these things. And the big thing that I was writing on the screen is Sal your peanuts. While this circus is in town, don't forget to sell because a lot of times these stocks come back to where they came from.We don't know where the top is, but when a stock goes from 75 cents to over $10, how high did we get Joel, over $10 in the pre-market I saw almost a 10. So just, just under $10, those are huge gains. I mean, these are windfalls. I mean, professional traders are coming in and grabbing fractions of a percent in a lot of trades.You're grabbing three, 400% on a trade overnight. I rang the register and you know, maybe you don't get the top, but it may be a sell too early, but at least, you know, you're locking into at least sell some of it. That's that's, that's how I approach these things, because what we say is in the law. A lot of times these storied stocks come back to where they were.So, I mean, last week, obviously we saw on Friday, it was fun. That was an unbelievable move. This was a meme stock or a stock that was, you know, actually, I don't know for the meme stock, but it was a stock that was that God hot back in like February when everything was hot and had been leaking, leaking, leaking.And then all of a sudden, just boom, it goes from five, from a dollar to $24 overnight, just incredible movement. Um, obviously, you know, it's trading up what happened on Friday on Friday. This is, this is the other side of the coin when you're in one of these, it's all fun and games when it's, when it goes to 24, but when it halts at $18, right.You don't sit down. And the thing was with PWAC it halted? What? Like six times on what Thursday was, whatever the point was. It took no heat on the halls, no heat on the house. It kept going higher, but we knew that that's not always how the game works. So Friday you're in fun. It's all fun and games. You're at 18.Boom. And then where does it, where does it reopen at nine? Wait, I gotta open reopen that eight box. No, actually they didn't do that. It was 750 can reopen anywhere Juul. It's it's once you come, once you go. And, okay, so let's talk about couple points here. One is, I have said multiple times, you know, in the public that the limit up limit down circuit breaker systems do not work when, on these smaller stocks, when you have material news or when you have, you know, obviously a social media run on the stock.I mean, DWC, if we go back to the Friday morning, trading was trading completely fine. And the pre-market, you know, it had a market. Yes, you're going to get more volume when you come into the regular session. But as soon as it opens it halt, because then the limit up limit down circuit breakers, the halting system, the mechanism is it doesn't apply in the pre-market doesn't apply after hours, but as soon as it opens, if a stock moves a certain percentage in a smaller fraction of time, they haul it.This. Because they want, you know, liquidity to come in. What this does is disrupts the natural trading. When you have this kind of volume coming into a stock. So you have all these little incontinuous at halts and then there's a new auction and halts, and then there's new auction and then the halts, and then there's basically a new auction as it reopens and the new auction reopens at the new price.It's very disruptive. Um, people are getting punished. I mean, anybody who has long fun where, when it was starting to come back in, uh, you know, like when a halted, I forget where it halted $18 while you were saying Spencer and a reopens at eight, seven, I mean, you know, or 7 92. You're getting hit really hard there.I mean, it's not giving you a chance to even, you know, if you have a stop in there at like 15 or 14, you're gonna get executed right down at eight. So it's so disruptive. And I hope if the regulators, I know there's some that listen to the show, sometimes the regulators are listening. We need to address the situation where the limit up limit down circuit breakers are completely disruptive to some of these smaller companies.They either need to widen the bands, or they did not put them in place for the smaller companies. I get it on some of the major companies, but some of these smaller companies, material news comes out and then the stocks came in priced to where they want to go. I've seen instances where, you know, you have a biotech company comes out with really good drug news.What can only allow it comes up middle of the day. It's only allowed to go up so much before it halts, so will go up. Go up and down the hall for five minutes. Cool. And then hall for five minutes, I've seen it do it like a dozen times. Some of these other ones, as it's trying to get to where it naturally wants to price, but the pricing mechanism and the limit up limit down circuit breaker, won't allow it to naturally happen that the process and the pre-market, it doesn't have those.And if you look at fund right now, it's trading very smoothly. I mean, crazy, but at least it's smooth. It's got a 4 cent market it's tidy. As soon as the stock opens, it's going to haul and it's going to get disrupted and it's going to make a mess on it again. So we need to adjust those circuit breakers or completely maybe even try it at some tea to maybe even possibly remove.You know, for some of these smaller stocks, because they're completely disruptive on some of these smaller issues. I just want number only for fun, 12, something's going on at 12 here, at least I over the last half hour. So if you're looking for more upside, uh, to seller a 12 currently trading 1128 support, perhaps at the close at 8 74, but it's pretty hard to do technicals.This one. These are, did this one, all these other ones are a little bit above my pay grade. And, okay. So what I also said, just to talk about, you know, this is not my cup of tea, but what I will say is we've seen this again and again, and again, You get the big move, the boom, the, ah, it's awesome. And then, you know, you come in and obviously, you know, you kind of crash after that.They have trouble getting back to those highs. So like on a fun where, you know, and obviously anything can happen. We know that, you know, and then in the case of DWC, I was dead wrong. You know, obviously in the pre-market it hit 22 and it came all the way back down to 10. And I'd not think that 22 was going to go back there and went to 175.So these things can still do anything, but it seems like more often than not once they have the big boom, like the big move, and then they crash like 50%, they struggled to get back there. And then the slow and steady leak happens over the course of the next. Month or so, so you got to get out one while the getting is good.And two, if it does have the crash afterwards, he got to use those bounces to lighten up. In my opinion, I would say you're using those bounces to light. Now you also said on DWC on whatever, was it Wednesday or Thursday who even knows that this, I think it was Thursday. You also said when, and I remember this and I think you're right.When these things, stocks do come down, if they don't come all the way down, if they maintain, I don't know if they can hold half the gains or whatever. This is what happened with, with GameStop, right? If they owed half the gains for like a couple of days, then. That's a signal that maybe there's more to come, that's going to be another bounce.Exactly, exactly. But if it, if it falls 75, 80%, the odds are not in your favor. Um, and some of them do come back. I mean like the fun, and it's such, it's such a difficult market to predict too, like, and that's what we should take it. The conversation too is like, how do you find like the next fun where, I mean, you can look and you can look at Reddit and you can say, okay, well what's trending on Reddit.What's the hot stock, but you can go buy some of these hot stocks that are even trending. And sometimes they don't go. Another person was saying, you just go to the bay gainers of the day. And it's always one of the big gainers that go. But if we look at the big gainers today and we can do that screen right on Benzinga pro you can bring it up.Maybe you should use that exercise to bring it up. You can bring up the pre-market gainers and you can look at what everything's trading up. And there'll be a, you know, on any given day, there's a penny stocks up 2030, So, I mean, you could go and you could try to buy those, but a lot of those don't continue to go.So it's a matter of finding which one is going to be the one that explodes three, four or 500%. I mean, it's difficult to figure out and chat, you know, if you guys got answers for these questions too, um, you know, maybe, you know, we can ask the chat as well, but you can see here this morning, you've got, you know, the S is a penny stock straighten up 37%.I'm just going from that list. I, this is the first screen to look at it every day there are between two and five stocks up, either 30, call it 35% or more, scroll up a bit too. You're not showing the very, I was like, cause Mark's not there. And we know Mark's the high one. There we go. So you can do this right in your Benzinga pro you can go show them how they do it because a lot of our subscribers have beds.So this is your bedroom. Gotta do it. This is your Benzinga pro home page, right? This is your, this is the page everyone gets to. When they go to the platform, you go to the movers. You go to the movers tool. This is how you do filters. You filter for pre-market and I have no price filters and no marketing.And I go to session cause that'll show you, what's moving the last five minutes. Maybe you want to know what's moving the last five minutes, but I like to, first thing I like to see is what is up this morning? What's happening. So I do, I do. I do too. I do one just for gainers. You that pre-market session. I think that blue thing, boom, we're done.I'm going to go here on the left and I'm gonna do another movers. Whereas my movers, uh, there is another movers tool just for losers, losers, pre-market session, boom, gainer left losers on the right every day. There are, I, it's more like a dozen, every other. It's like a dozen of these things. Making huge moves when you're doing it yourself, folks, you know, check out the volume, check out the average daily volume, you know?Well, I am, if it's up on a hundred shares, you gotta, you gotta look in and we're not saying you can just go buy all the movers I'm saying in all, like you buy all those movers. The top 10, a lot of them are gonna go to. So it's a, it's an art to figure out which one is actually going to continue. I mean, if it's a hot storied stock, sometimes they do continue.And sometimes it's a matter of it continuing from its move on Friday, which is exactly the case. In the case of mark, you had the explosion on price on Friday where the stock doubled from 75 cents to $2 closes was probably up after hours. I didn't trade after hours because I had gone away. I always do, but, um, I was away.Um, and you know, obviously you can see the continuation of the move. So a lot of times it's the previous day's action that dictates, you know, a follow-through move on the next day as well. But you know, there's opportunities in here, but I'll tell you, it's still difficult to figure out. You could buy all those stocks.And a lot of them aren't going to go up and some of them might go down. Most of them are going, are not going to work. But if your objective here is to. What the trending stock of the morning is this is what I would, that's what I would do. And here is why the, the viral economy is so decentralized. You have Twitter, hugely influential.You have wall street bets on written. You've read it. It's not even just walk through it, just read it because there's a dozen of these influential subreddits. That's hugely influential. You have discord also hugely influential. It is impossible. It's funny to turn up on a needle in a haystack. It was w what it's like to try to find where a rumor came from.You will not be able to find it. It is basically impossible, but you've got Twitter, Reddit, discord. I would love in the chat, uh, to get y'all's opinion, which of those platforms that you think is the most influential, because they all move stocks every single day. Um, and if you're trying to find out why, I mean, Eventually you'll you'll, you know, the rumors always come out everywhere, but I'm trying to find the sources.It's difficult trying to find what, like the trending stock of the day is just skip all that. What's the Reddit stock of the day. Cause it's always, I mean, AMC is all. Oh, and Kim is always on there and then it'll go up. Everything you own is making a great point, YouTube as well, hugely influential. Right.Um, just skip, just skip the trending and just go look at the performance what's up and what's down. That'll tell you all you need to know. Um, but yeah, what I find interesting here is the rotation from. Your, you know, and we, we talked about this a couple of days ago and, you know, I actually tweeted it out.Are you going to start to see weakness and AMC and GME, and some of the other meme stocks as money comes from those to go into chase the new hot thing. And it's exactly what you are seeing. AMC is down about $5. I tweeted that two days. I think it was Thursday. I tweeted that, um, you know, it's that 35 63 and you've got GME obviously selling off as well.Um, it's very interesting Joel, that, you know, I, we talk about this money, the speculative money that isn't interested in trading apple, it isn't interested in trading may have calves. It's interested in the next hot story. And as it moves around this speculative capital, um, you know, it can show, you can see weakness obviously in stocks like AMC and Jamie cause that's speculum capital.It's moving into DWC all of a sudden. Yeah. So I don't think it's a coincidence that GME and AMC did not have a good couple of days as GWAC explore. So you have a lot of traders, like professional traders, like me, I don't even usually touch any of that stuff because it's too unpredictable. Um, but you know, you have other traders that, you know, just trade speculative names and are chasing that and you have algorithms, you know, I shouldn't just say it's, it's retail.There's a lot of professional algorithms that just trace that stuff too. So they'll move the money out of this and then move the money over into that. So, um, the rotations within, you know, even the meme world are interesting as well. Um, so you've got to respect all that too. I mean, right now it seems like a lot of like sub dollar stocks are the things that are going this morning.I was looking at the movers because it's all of a sudden, it's like, well, what's the next mark. People are trying to get rich fast. Everybody wants to get rich fast. Right. You know, that's the whole, oh yeah, let's get rich fast. But I mean, it's, it's tough because you're buying like little lottery tickets, little lottery tickets, and some people are gonna win the lottery, but a lot of people aren't.So I told capital to Dennis, I mean, for you, uh, you know, trading all those different instruments, a hundred, 150 stocks with your edges. If you got something on like that mental capital, you're looking at it. I have to babysit that stock. I can't have a whole bunch of other positions and doing other things and doing pairs, trading and relationship, other based trading, you don't have a whole pilot positions on and then have something like DWC on because DWC is moving so quickly and it's moving so much.That's babysitting. So, I mean, if you're only trading one stock, maybe you can babysit that one. But again, you know, you get caught up in these halts, you know, here, you have people who are in fun, you know, and it's, it's looking like awesome. It's looking like a lot of fun, fun pulling the pun fully intended there.And then all of a sudden it starts to turn the other way and you can't get out and it's in a limit up limit down it's on the down hall and it reopens a box on you. And I'm like, what the hell just happened? Burned. You got a thousand shares. You'd get a chime date for five bucks on it. And then it opens down 10 bucks on the hall and you're like, well, I don't even know what to do with.So these are high risk.Well, Joel looks at Kodak, uh, because it's it's 8 36, Jason, come on show. Cause I don't know how much longer I can. You can't take the suit. It's Jason going to be wearing a suit too. Jason is wearing nice clothes. Tommy's got it.The cleaners, man. I got a cleaners. Spencer. There's a cleaners at 12 and Northwestern two for one. Tell him, you know him. I think I've been to that one. Oh, there's literally. Company meeting right now that I we're not in, cause we're here with you all, but uh, let's bring Tim philosophy. Is it a coincidence?They didn't want Spencer at the old company meeting is that it's not a purely intentional.Tim good morning, sir. How was your weekend? Good, awesome. Up here in the mountains and, and apparently, Joel, must've had a good weekend because he's wearing a tie. Oh no, it's all fancy. Now. We're what we're assuming now. Apparently, Tim, I don't know if you've heard. I liked this time for the flu. For those of you who came in, I didn't get that memo.You came in late and missed the news. Jason was on, was on CNBC this morning. Uh, Berenger capital has acquired a majority stake, uh, in Benzinga. Wow. That, that knew that was the news was on. Oh, they're turning us into suits. Joel thinks I'm still going with the t-shirt looks. I'm going to hold out, knock in the calm as long as I possibly can, but Joel's already full suit mode thrown in, thrown with thrown in with the corporate guys.He's corporate. Now I'll give you guys the inside scoop. What actually happened is we were going to do a split. And we w we, we went to a vote, a company-wide vote, and nobody wants to do it now. I'm just kidding. That's not what happened, but it didn't get a vote on this. But if that did happen, it would have been funny Johnson though.I was like, I didn't get to vote, but I was going to ask this question, but I'll pose it to you as well. We were just talking about trading halls. Um, here's the question. When a stock has halted like that, for volatility, we're talking DWC or font or fun or whatever. Okay. How, what controls, where the stock opens out of that halt supply demand, right?The same rules apply. It's wherever the national best bidder offer is. And the price will be determined by the fastest automated quote to get to it. That's the law. The law says that a marketable trade has to flow. To the best available price. And that's why somebody like Citadel will always price the market on the open.It's the same thing. People don't realize this, that on the floor of the NYC, it is against the laws, uh, okay. Against the rules that the N Y S C itself has established to open the market with a customer order. It will open on trades from one of the Ford DMS designated market makers, which are Citadel Infinium Verto and GTX, I think.Right? So those are all proprietary traders and that is who will set the bid or the offer. It will be the offer that always takes precedence, uh, because that's, again, the rules of the market, the offer will be the highest price in the. Because the offer will be higher than the bid. So that's what we'll say.It's basically just coming out when the stocks you're gonna have a new auction, you're getting new little auctions all the time and all the bids and all the offers come in, obviously, you know, in some are going to be marketable depending on, but like Tim says, you know, they're going to look at where that auction clears and that's where the opening price is going to be.And then it's going to continue to move from there. What I was arguing before he came on Tim, is that these limit didn't limit down circuit breaker does not work well for these smaller stocks. It's very disruptive to the natural trading. I get it. They put these in for people who are new to the markets.This came in after the financial crisis, because we had, you know, they didn't want stocks trading all the way down and after the flash crash, especially because they didn't want it. So that was really it. I shouldn't say the financial crisis financial crisis when we started some regulation, but then the flash crash of May, 2010 was, you know, a May 6th, 2000.I believe it was 2010. Yeah. I'm losing track of years here was where they said, okay, well, we can have stocks trading from $40 to a penny, you know, and just instantly, because there's no bits, we need to be able to stop stocks going down too quickly. So that works well, you know, and in the event, you know, like we are Microsoft should never, ever, you know, some of these stocks, Accenture, I believe trade all the way down to that, that limit up limit down would have stopped that from happening.So that was a nice bandaid for the problem. But the problem is when you have these smaller stocks, which are subject to the same rules, yes, the bands are wider for some of the smaller stocks, but they're obviously not widely. So when you have material news on a small cap company, the price can't go to where it naturally wants to go right away.And a lot of times what you see is the boom, the up the hall. And then it wants to go in the boom, the up another hall, because at what doesn't even get into clear, as high as it wants to clear. So, because they put, you know, and obviously that's all to do with market structure behind the scenes, but what is a better mechanism?I get, you know, the intentions of trying to protect the retail investor. But we had an example on Friday, Tim, where Phunware started turning the other way, PHQ and went from $1 to like $24, started turning halted around 18 and reopened at eight. I mean, you catch so many people, the stock reopens 50% lower because everybody's like, I got to get out now at the same time.And that happens to be the low. And then it starts to bounce back. I mean, what is a better mechanism or a better solution? I'm this I'm really thrown under the bus because I don't even know if I know what the solution is, but I just think the disruptive, we need to come up with something different or we need to remove the limit up, limit down circuit breakers, or some of these smaller stocks.It's very difficult. Uh, you know, I go back to the cattle auctions of my youth. I grew up on a catalog, a cattle ranch. And so we would take cattle to the auction. And if you didn't like the price that the buyers offered, you could buy your cattle back, maybe that's and literally that's what you would do.You would, you would take your cattle off the market. So maybe that's an option. Maybe if Phunware doesn't like the, or whoever owns the stock, doesn't like the price you get to pull your. Uh, your bidder offer, but I don't know, Dennis, it is, it's a very challenging feature of a continuous auction market.That's the problem. The problem is a simple problem to understand it's that, uh, this is not the kind of auction where everybody shows up and there's a piece of art for sale and you bid for it. It is that there is a relentless, uh, train of bids to buy an offers, to sell in increments of, you know, whatever it is.You could put 25,000 shares in there, but the likelihood that you're going to match at that size is, is minuscule. So that's the challenge. It's a, it's a flaw in market structure as is what drives. You know, we could talk about that too, but I don't have a ready solution. You're right. About the, the, uh, the Genesis of that people used to put in stub quotes so that you would put in a, a penny, you would put in a penny to buy because who's going to sell their stock to you for a penny, and then you'd offer to sell it.They sell it for a hundred thousand or buy it for a hundred thousand and we'll sell it for a hundred thousand. And so then you'd trade between those. Well, then everybody vanished except who had the stub quotes. Yeah, liquidity. Literally there was no beds. That was a class. It wasn't a lot of selling pressure.It was the lack of liquidity. It was the fact that we had no beds in the market. No real bad. Dennis you wrote about Rambus, right? You, um, I don't know. I probably had mentioned this on the show before, but in January you had that incident in Rambus. I mean, we saw it in individual stocks where you would get this liquidity, you know, and maybe this is a good segue into, you know, what Tim's talking to.I mean, we had a, from Laval when we had a floor, you know, and, and Joel is a market maker on the floor. I mean, you, you, you get, you know, you had a different type of market where you had affirmative obligations and what those are is that a market maker has to give you a reasonable price. I mean, the specialist on the NYC for a lot of people thought that specialists were correct, but you know what?They would come in to at least give you a price, a reasonable price. What happens when it's all moved to, you know, high-frequency automated market-making systems that don't have affirmative obligation. They don't have to give a price. If the going gets tough, they just pull all their bids. And there's nothing left there.And I mean, that's really, you know, the issue is that you don't have those affirmative obligations anymore. And you have these vacuums of liquidity where there's just no bids in the. So, what are your thoughts? There is, you know, comparing the system we used to have with the system we have today. Well, there is still an obligation on the floor.Uh, the DMM to, to effectively be 10% of trading volume, however they're paid, they're paid 3 cents a hundred to do that. So it's my theory. I can't prove it, but that, that is what causes the bursts at the. So they want to get their 10% out of the way, because they don't know what's going to happen the rest of the day.So you get paid for your 10% and now your obligation is done. If something goes wrong, uh, you can pull your quotes. So it's, I just think it's important for traders to understand that it's a fragile market. That there's a, there's an awful lot of demand that comes from people who don't want to own things.And if you don't know that you will have an unrealistic expectation of what might occur just as it is with wet. So the reason the whack is a meme stop. It happened for the very same reasons that GameStop and, uh, AMC theaters. And so on, went up a thousand percent it's because Citadel and various other market may, it's not their fault.You know, I've been into these Twitter exchanges with folks who believe that Twitter Citadel is nefarious. Uh, you know, I'm Citadel is a major force in the markets and it's after its own self-interests, but it's merely following the rules. And the rules say that if, if you're making a market in a stock, then you have an obligation to be at the bid and the offer for orders of a hundred shares or less.Well, if they keep going up, Citadel is going to manufacture stock until all of those orders are filled and there's a nexus at which point they will stop doing it. And the stock will go down and that's what occurs. So traders, you have to be aware of this, that it's not limit. The prices are not limited to the supply of the stock available.There are only 42 million shares of de whack, including the warrants. And yet somehow it traded 430 million shares times. Right? A part of that is market-making trading the same shares 10 times before you even have a chance. But the, the big part of it is there will be stock manufactured to fill a tray.That's the way the market works. How is that possible? Because the sec said, thou shalt make a continuous auction market makers. And they said, we can't do that. It's impossible and less were exempted from the requirement that we locate shares to short. And the sec said, fine. We've talked about this repeatedly before they're exempt from reg S H O rule 2 0 3 B2, and they can create stock.So realize that traders you you've got, you've gotta be, I that's why I say supply and demand matter. If you know where the we're going to see it on, on market structure edge, we will know when stock is being manufactured to support prices because it's measurable. So you want to be informed and not the second.You know, you go read that game, stop memo from the FCC. We talked about it a little bit last week. Uh, Spencer, you and I did. Yup. So the sec pointed this out, they said, look, you have to understand market structure. How does the market work? And if you don't understand it, it's your own fault effectively that memo says we're not at fault because these rules are necessary to support the market.We have look, it's a, it's a Marvel of technology. It's an extraordinary thing that we can support over $50 trillion of market cap with this system. But it's also very fragile at any moment. Quotes can crumble and vanish. And so you have to be aware of that. Yeah. The takeaway seems to be, you can, you can hate the players, but in Tim's in Tim's view, hate the game.Yeah, they hate someone hate the players, but I hate the game more because it seems to be where the, uh, yeah. And this is not the only area where this is a problem where you can, you can copy the same exact argument over to, to the, you know, what the fed was doing with regards to trading individual stocks.And, well, we didn't, we didn't break the rules. Well, that's the point. You didn't, you didn't break the rules. That's the problem. Um, yeah, so, so there's some fun. Well, I mean, you can, you can absolutely see what happens. Uh, it will jump into some of that stuff. Yeah. What you got and we'll look at something that maybe you should own it.I'm not saying that you should, but it's very, it's fascinating to see where does money go if the market stops rising by the way, statistically, and I'm going to share my screen here, statistically. Uh, so we measure supply and demand on a 10 point scale. And so I was looking at this data over the weekend and statistically year to date in 2021, the market has produced 0.0% returns at levels above 500.I guess where it is 6.3, meaning that if you take the times that it's above 5.8 and aggregate them in 2021, the return is zero. All the returns lie between four. Cause it's not been below four in 2021 yet. And 5.8. Well, you don't want to be buying the market when it's 6.3. Exactly. You shouldn't be buying the market.So what should you buy? Well, you should buy the stuff where all the low volatility money is going to go. If the market starts to crumble, we're willing go well, that's measurable and I'll show you. But, uh, here, so here let's look at, let's look at fun where just, just for the, since we came to fund for fun, just for fun.So, so here's the massive service. And fun. Right? So it just exploded here below is short volume. That's the percentage of trading volume coming from borrowed stock. Well, people already knew right. At options, expirations that there was a high probability that this would occur. Now, how would they know that?I mean, that who's they to begin with and how would they know that? So see where my cursor is. This is short volume. That dotted line is the trend line for short volume. It is now over 50%. Over 50% of trading volume in Phunware is coming from manufactured stock. I mean, nobody, no holder has to buy or sell for the stock to go up 500% because market makers will merely manufacture it and traded at higher prices.So somewhere around options, expirations peop the machines who are making markets and options and the stock. Now, what did they know at that point? Well, maybe people started betting on options and so these machines have the same kind of out. We run great algorithms. We have a pretty good idea where stuff's going to go in five day increments.And so those algorithms told Citadel at all, that we want to manufacture some stock and then we want to be long right here, right at the end of options, expert. So the 21st was the first day clear of options, expirations and well, the stock explodes. Well, new options traded last week beyond the 20th, I think so that, how is that possible?Well, they're market makers. They consume the order flow from options and from retail shops, they're going to know, wow. There's a lot of limit orders coming out, us out of Robin hood and that, uh, Ameritrade and out of Schwab. Okay. This thing could pop. All right, well, let's make sure we're on the right side of that trade.Cause we're proprietary market makers. We're not serving customers. We buy order flow and then it becomes ours and we can do something. That is measurable. We could go look for that kind of a feature in the marketplace. I could show you another one where that's condition sort of exists. Uh, but, uh, that's what happens.So traders, you have to be aware that that condition exists. And when it's a rocket sled like that, when cinema, when, when prices zooming and sentiment is already peaked, set sentiment was already peaked the day before the supply demand balance had already been hit. So it's going to drop you. You've got to know that if it had hit the ceiling hit 10 and continued going like Tesla, then you're okay.If you look at Tesla, uh, here's Tesla 10 and top 10, it's only 40% short. There is no excess supply of, of Tesla in the market. That's everybody had to cover and it's still a 10. Can that price go higher? Yes, it can because there's still a supply demand imbalance. When do you sell, when they're sitting up at the 10th, do you like sell your peanuts when the circus is in town?Like just get out. Cause you don't know when it's going to end or do you ride it? Like how, when do you, and this is a question for me and I've struggled with this for 22 years. I've been great on entries and I've always kind of stunk at the accidents. I always get out too soon. What, when, when is the best time to do.Uh, so I prefer to sell a, when I've achieved my return and B when supplied, when the supply demand balance changes. So if, if, if short begins to rise, then get out. Maybe we should look at shops. So I sold shop on Thursday, so I bought it on Tuesday and I sold it on Thursday. I bought it at 1446. I sold it at 1498.Now why? Because I can see this. It has a very short run. When it gets to 10 in shop, you should be out statistically. It will not continue to produce returns as it sits at 10. Why is that? I think it's because it's very risky to make a market in a stock that is trading at $1,400. So that was my, you know, it was that's.That's how I think about it, Dennis, by the way, you should also think about intraday. So shop is 3% volatile every day. Do the math on that. That's a movement of $45. You got to know that if it moves more than that, you're now outside the intraday volatility and the market making is going to break down. I think about that stuff.I mean, I I'm, I'm all about the math of the marketplace and taking your gains, not risk, right? Take gains. Take gains now. Chances. Yes, that's it. Yep. Tim cross joins us every Monday. He is the founder of edge. Good to see you guys. You too. Hey, it's 8 55 guys. Uh, I think that the all hands meeting is about to wrap up.I hope. And I'm going to try and buy it from time and hopefully we can get Jason on here, but in the meantime, we'll do some ticket time. The only news I saw though, that had that broke in theory, might've sent me, it was Madrona. They came out with, uh, expected data that, uh, the phase three trial of their COVID vaccine in kids ages six to 11 was tolerable.Um, and so they don't care boxy news anymore. It spiked on it don't act like it. Didn't no two bucks is not a spike on the dirt. That's not even up really much more on the relative. So you get these spikes, but these spikes again, you know, it, it there's just no good response. It seems like to any of this, say we're so immune because we get vaccine news every day.The market just thinks of it as a non event. Um, we used to get, you know, if you go back three, four months ago, this, and this is just it's, it's getting desensitized to this news now. Um, vaccine stuff we've heard about it so much. So we're going to get an approval probably for five to 12, you know, by the FDA.And I know there's a panel discussing it today and in all likelihood stock get a little pop on it, but those pops seem to be short-lived. So. You know, the trend is not your friend here now, Madonna. Um, do I still like the company long-term, maybe it's always been a valuation issue for me, which is why I've never put it in there.You know, I struggled with it being worth as much as merch, but you know, if you know, I don't know where we're going with. COVID obviously there's lots of different things to consider, but when the market, you know, responds to me on good habits, Does it not the stocks I want to be in. I didn't even get to Friday's high on this one.You just got to pop a little bit ago to 30 to 80. So that'd be your short term targets as we've leaked over $3 from that level Friday's high as well. It done 35 75. And then just draw a line across your three 40 area. If you want to purchase this on strength, a lot of people stuck in this one and theoretically support at the close Friday's closing price was 3 26 54.And yes, chill shows on Hammad. Uh, the majority I have my was expected today. Uh, not a surprise. Uh, let's look at Peloton for Chrissy. She asked about PTO and here, um, she asked about two stocks, but this is the one that looks less ugly, probably. So the Peloton. Relationship. And I gave that obviously, you know, a week and a half ago in our educational event.Um, the relationship is so strong here. I mean, you put those two charts on top of each other and obviously the company is not fundamentally really anything to do with each other, but they're both classic stay at home place. And if you lock these two stocks, just move together. So you've got to use those as indicators to each other.Zoom, the big level of resistance is going to be 300 Peloton. The bigger level of resistance is going to be 100. So we've come back a little bit. Um, you know, are these trends broken as a story over the, I don't know if the story is completely over. It's actually had a pretty good little run here and showing a little bit of life, but you know, it's not the hot story of 2021.Uh, pair of highs at 95, even ahead of that $100 level, not to talk against my book again, butLisa did ask me the other day. She's like, when are you going back on to Peloton? And I would say, well, probably when we get snowed in and I can't go to the gym or something like that, but dot yeah. Para highs. I just not perfectly at 95, but that level is just jumping out to me. Okay. So I have just received word that Jason arrives.Nick is not in the building. Oh, what's going to be tough to get them on the show. So, um, and this is a hundred percent true story. Uh, apparently this morning, Jason pulled out of his driveway and drove away with his computer on the roof of his car. And. He was pretty excited. That is so, so Jason is not here.So Jason would not be joining us because he's not physically here. I just got to get the smashed up at the smashed up laptop on the side of the road, his wife was looking forward and w. The last I heard unable to find it. I think now he's gone to look for, I don't know, but so Jason's not here. I said, Jesus is not coming on.I know that back in high school, I can remember I did that back in high school with my textbooks. And what happened was you were in my car and then I run it sooner. Spencer Murphy. We could, maybe we can get Lucas. Is that a constellation? I get Luke, I'll be right back. He told me to go get Luke. I'll tell the quick story so I could see how that can happen.You know what happens? Isn't, Jason's really busy on the phones, obviously, which day for him, but you know, you've got your laptop, you've got your textbooks, his textbooks back then I was in high school and my hand, and somebody starts talking to you, you know, at your car. So I sat at the car, I sat the textbooks on the roof of my car and I'm talking to the body or whatever.And you know, you're shooting the crap there for like five minutes. And then you just get in your car and start driving. You know, and all of a sudden, you know, you're alive, you see the textbooks go. I was like, oh, I forgot those on the roof. So that's how it happens to get distracted. So Jason, we all do it.It's okay. Yeah. Having a big day. So we'll give you a pass and everyone, every one of the wow, more people have, uh, come out and confess to the same thing though. You just get distracted. You'll be like, okay, I'll put this here for a second. And then all of a sudden you get distracted. You want to know another one too, that I did this twice.So maybe I'm susceptible to this so I can really relate to what Jason's done here. But I can remember, I was like 19 years old and I had like a case of beer, you know? And you're like all excited for your case of beer. And I put the case of beer. I sat it down and, and I don't know how, but I sat down like near my, in front of my car and cause my phone rang and it was phones.I had to go inside to get the phone. So I sat. So I was just putting the beer in the car and I was, I was pulled into the driveway. So I put the beer, I was going to put the beer in this. And we put it, but the phone rang. So I just sat the beer on the ground, behind the car. And then I ran inside, answer the phone, come back outside, get my car and back over the case of beer.Oh no. If I go to the case of Baron, you want to know a tough, those bottles are out of the 24 beer bottles that were in there. Only two were broken. I drove over with a car. That's pretty impressive now. So anyways, it can happen. Yeah. I I've heard what happened with coffee before. I've never, never with a computer.Um, okay. I think Joel just went to take his suit off. Honestly, I do. Luke is, I dunno. I think Luke is in the bathroom or something. So I think we're going to have to end the show now. Unfortunately. Well, we keep the show going. It's going to continue to keep the shows going today lot. Yeah. And in the future, uh, wive trading with myself Ryan's and he will start in around and around nine, 10, he shouldn't have so around eight minutes from now, we will get Luke onto that show or Jason, if he's even whole, I don't even know where Jason is right now.Um, we'll, we'll get someone on that show who talked to us more about what this means? Uh, I asked him the question. The important question is, am I going to have to invest in a calm? That's what I want to know, because we got to start combing her hair and wearing suits. That's what I want to make sure I don't have the Bible write that down.Dennis wants to know whether he's going to have to invest in a coma. I can't. I ask from the new policies. I have to submit that, that question. Okay. So limited in writing for me, I'm very scared and concerned because I don't even own a suit. So I'm very scared. I don't know, unfortunately. Oh, wait a minute.Shawl. Did you do that fast? He is like Houdini. He's like Houdini over their final four. It's just, I'm trying to get Luke, Luke, come on the shelf, high five in each other over there. All right. W w we got Luke, we gotta get him out of here quick. He's coming. Will you come over here? Come on. Let's go. All right.We got Luke, we got Luke and Luke, the baseline setting up on pre-market prep. Uh he's. I don't think he's slept in like three days. So he's running on pure adrenaline and it's only 9:00 AM, but he's excited. We've all been here for three hours. We're we're excited. Oh, there he is. His name says Jason Rasic, but who cares?It's bringing him on Luke. Can you hear me? I can hear you, Spencer. What is going on guys? Obviously your nation, Luke, Luke, I have an important question for you. It's very important. And I need to know, am I going to have to buy a suit? Okay. You're you're not going to have to buy a suit, Dennis. Thank you.I've been worried about this for the last two hours. I'm like, I'm going to have to invest in the suit and not do the whole, like, all I want is t-shirts basically the only thing that will change with your apparels, that we're going to get you some more Benzinga clothes. Okay. Um, but generally speaking global comment, I mean, nothing is changing right away other than we're going to be producing more for our users.Right. We, we did this. There are so many emerging markets. There are so many new trends. We want to make sure that we're in the position to stay on top of them. Keep delivering content in the Benzinga style of the Benzinga tone for our users. Uh, so Dennis, no suit, but yes, more will be coming. Oh, I had one on earlier.I had to change it, but no, I just thought I'm going to hop over to pre-market prep plus, because we didn't cover any tickers today and ticker time. What a mistake, but look bad. Congratulations. Well, give us a symbol. We're going to cover w what's what's one that we're going to cover. Aw, man. We were good.Okay. Alright. Congratulations. Look, we'll talk to you soon. All right. Thank you for coming on. I know your busy day, you've been busy these past few months, getting this through the finish line. You did great. Congratulations. And, uh, hell yeah, man. I mean, I'm just, I'm ready to go. We're all ready to go. Right?We, we we've, we, we, we like to build quickly here. We want to get more tools out for our users. We want to get more gate out for our users. We want to keep pushing those connections. We we've, we've worked on this project for the past few months now that it's done now, now that we have the expertise in the backend from Berenger, I mean, we are going to be rocking and rolling in a serious way.Yeah. The big thing is this is not the end. This is the beginning. This is the beginning. I don't have to wear a suit. I'm cool with that. That's all. All right. Congratulations. Probably want to say congratulations. Obviously. Congratulations to the Benzinga team. Jason has always doing a fantastic job behind the scenes.So congratulations. I'm going to go trade my open, keep us in the loop. Keep us on. Uh, we'll talk to you guys soon. All right. Thanks. Thanks Dennis. Yep. All right, guys, that's a wrap for the show, a live trading with myself as you need Ryan, we'll start in like four or five minutes. So stay tuned for that in this video, we're going to redirect to that stream.Please remember all the information from our show meant to be used as informational purposes, not foreign investing or trading advice, things that team caused from market structure edge as always thanks to you in the chat. Give us a like, let's go. Not every day. We, we been singing is the news. Let's get, let's get at least get like a thousand likes today's exciting stuff.We're going to be expanding. Growing the team you want to work here? Cool. Geologists. I've been single.com. We, we, we are this big, we're going to get to be this. It's happening right now, live trading, starting in a few minutes, everyone. Good luck out there.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Market RecapDWAC over $120SNAP gets crushed on weak guidanceINTEL hammered on profit marginsCMG, DRI, SNAP, SBUX,PYPL,DWAC,INTC,SNAP2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Kenny Glick, Owner and Creator of HittheBid.com 15:00Twitter: https://twitter.com/HitTheBidRadioMeet 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 TranscriptGood morning. Good morning. Good morning, everybody happy Friday to Friday. And we got a lot to talk about. We've got some crazy movers you guys know about that. We've got all time highs. You also know about that. Um, so we'll try to cover as much of it as we can. That's the plan for today? Kenny Glick will be our guests in around 13 minutes or so.Um, I we'll try to keep the conversation PG 13, but. Never came around with anything here. So smash that like button we are. It's going to be a show. I can promise you that it's going to be a show today. Um, Joel, let's just start with the overall market and we'll get into the fun stuff here. I guess the overall market is the fun stuff.Cause we're in all time highs. So yeah. Uh it's uh, the market took that dip off that all-time closing high 41 75. Uh, we're currently out for handles 45 75. Just not going to pre-market I right there. 45, 48. I can't give you any resistance when there isn't any resistance training, a new all-time highs, crewed up 78 cents and 83, 28.We got little silly yesterday when we went to 83 96. So that's a target on the upside. All gold God, people like gold today up 11 70 17 93 60 need to get over that $1,800 hurdle. Silver that's in the green by 24 cents at 24 41. Bitcoin. That's quiet this morning. It's up 6 40 60 3,550. These are the futures and the theory that's up $54 at 41 37 in a quarter while there's some days where we bring triple DN and he's got it.Great handle on the market. He's feeling good. And today.It's a lot of weird things happen. They relationships all over the place and a mess today. When my relationships are a mess, you know, I'm having a bad day. Um, you know, just like simple stuff, like TLT trading higher, and the banks trading higher right along with it. I mean, the IWM is up 85 cents. There's a hell of a lot of stocks that are down today.So they got to buy something. So they're going in the buy in the banks and buying commodity stocks. It's kind of what they're buying. There's a hell of a lot of stocks that are green too though. So it is a very weird day. There's just no rhyme or reason. I mean, you've got some stocks getting hit pretty hard, and then you've got other stocks trading in the green.I mean the best indicator last night was obviously the snap news, which totaled the entire market down. I've never seen, never seen. Like a stock is smallest snap. Take the entire market down. That is exactly what happened. Give us the details, Mr. Israel, because this is a snap sell off. All right. Okay. I was going to get to snap later.I, I know it's the most important thing to talk about. So obviously DWA racy. I know y'all want to talk to you that way saying we're going to talk a long time about DWC. So don't worry. We all had traits in it. We all have seller's remorse in it. Every single person in the world has seller's remorse in it because it's trading at an all time high and it looks like it wants to go to triple digits, but okay.Let's, let's come back to the WIC in a second because this snap news is more important for the majority of market investors I've ordered today. So the Snapchat, if you only looked at the headline numbers, you would think, oh, it's not bad earnings per share, beat on their sales, missed a little bit. Um, but their sales guidance was light and here's why they basically blend the two things they blamed.They said, remember last quarter, everyone. Remember when Snapchat blew blew it away and they said, yeah, we've seen no effect from apple. Uh, the apple, uh, privacy change. It's it hasn't affected our users, uh, our ability to monetize our users at all. Um, well, that's not the case this time around, because they'd say they said the exact opposite.Um, it turns out Apple's privacy changes are affecting them. And in addition to that, they blamed, uh, w what else? Global supply chain problems for what they call a weaker appetite for advertising right now, because I guess, why would you want to advertise? Why would you want to spend money on advertising?If you know that your no, one's gonna be able to get your product anyway. So you might as well wait for the next quarter. So, uh, they blamed apple and, uh, for light guidance and it stopped. Hammered hammered. Yeah. And it wasn't just a stock that got hammered. It was everything to do with, anybody's got anything to do with that app store apparently cause Facebook you to know your $14, they advertise model, sorry, $14 it's down, but it was down 25 on this headline from snap, you had Google at one point in time was down almost a hundred points, almost a hundred points on Google.They didn't say anything. This is all from the snap commentary. Like that's knocking Google down and Facebook down. And then because the cues aren't falling far enough, this absurd market doesn't even know what to do. The Arabs don't even know what to do. So they start buying Microsoft. So if you look at Microsoft right on this news, Microsoft has a wicked spike up to $313 because the Arabs.Well, hell queues are hardly aren't down enough here yet. So, and Google and Facebook just lost a significant amount. So we got to buy something. So it's, they're buying Microsoft. I'm like Microsoft rallies, $2 on the snap headline. And I'm like, well, I can't even understand this. And it came right back in the Microsoft.So it was an awesome fade, but it just goes to show the arbitrage effects in this market are just incredible. The ETF arbitrage effects, you know, with Microsoft rallying on it, because the Arabs are all like, what the hell is. So the box. So anyways, we've had a nice bounce now in Facebook and Google. I mean, Facebook had huge support.I know we're not talking snap as much because snap isn't as widely owned as Facebook and Google. So we have bounced out of those areas, but this was a snap sell off in the entire market last night. And obviously the market has come back here this morning by the dip wins the day. Again, it just always wins the day.It seems like, I mean, we're at all time high. So obviously it always has won the day. Um, but it was some pain last night for, and there still is some pain and some individual stocks. Yeah. Well the top score to the snap first it's it is coming back a little bit. There. That's your main catalyst. I mean, they just took this straight down.You got that at instant reaction and, uh, the pre-market low probably is safe. 52 48. And what's amazing. You've rallied back the highest level you've had since that is just on the last bracket. It's 61 14. So if you're actually 61 20, so if you're looking for more upside, you know, I think you got to get above 61, 20, and now with, you know, being Nat fire off the low, I think you find buyers here.If you, if you start to go back down again, it really thick and up. I mean, after that spike glow. So that's what I'm thinking. I don't own it. I don't have anything to do with it. I, I don't want to own it. So I'm not going to be looking at it today or you don't own snap, and it's still impacted, uh, the majority of a lot of other people's portfolios in the way of Google and Facebook and how many other companies, you know, are being potentially impacted by this.I know Twitter obviously is your obvious sell off there as well, which in Twitter, I still think. And I'm going to say. You know, if this DWA C story continues to remain hot, I think the money could come out of Twitter there too. I'm surprised it didn't sell off more ahead of, you know, obviously it's a snap sell off this morning for Twitter, but I'm surprised they weren't hitting Twitter yesterday off this DWI cm.Maybe that's the segue into DWA. See, I've never seen a move like this, you know? And I feel like, I feel like I got, you know, really wrong. I mean, I, I thought it would bounce out of the 10 area, but I thought it would go to like 1280 $2. I'm like, I way underestimated one, the power of Reddit to the power of Trump, you know, like just, you know, that the media following, obviously that this is going to get major media and, um, You know, just, just to say like, I, I believe this became the number one stock mentioned on Reddit yesterday.Um, I do believe that you saw a weakness in AMC. You saw weakness in game stop. You saw a weakness in some of these other meme stocks yesterday because the money was coming out of those stocks to go into DWA. See, like we talk about, you know, we talked about this on our educational event too. You have this like retail, Reddit, you know, money like this, that this huge amount of speculative cash that chases the next hot story.And it moves to chase the next odd story. And it goes into the next hot story. This DWC is the epitome of all of that. This became the hottest story that maybe we've seen. Ever above game stop because you had a stock go from $10 to $83. Now in less than 24 hours. I'm not sure I've ever seen that. I probably discounted it because it was a spec and specs have been in the garbage for a long time.But holy mackerel, um, that's unbelievable. I know you made a trade on it. I made a trade on it. I bought it. Don't even ask where I bought it because I bought it really low and I sold it really low. And had Spencer. I know you actually did a lot. You made four points on, I don't know if you guys saw it anywhere, ever do that again so we can show other people how Dennis and I are doing this morning.Uh, I dunno if he can do it again. Let's see. Uh, he just, it was just up on the screen there, but if you're watching, then you may miss it. Cause it was, it was quick. Um, oh no, that wasn't me. I wasn't making, I wasn't making 80 points on this. There are so many points in this DWI. Tracy thought I said on the show, I was like, when it got down, like the 10 fifties, 10 sixties, like, I don't know it's going to go all the way down to 10, but I'm like, you're going to have huge support at 10.And I kind of thought it could bounce the, like the Ulab ins maybe even the twelves, but I sat on the shows like nineteens long gone or 22 that we talked about, the pre-market high. I was long gone, never getting there again. I got there like an hour and then it just kept going and going and going and going.And the Reddit, this is an eye-opener for every trader out there is that there may have never been a more influential group of traders than Reddit, you know, like what they did with GameStop, what they've done with some of the meme stuff. What they've done with DWA C and I believe it's all retail driven here and obviously algorithmic Joe, Jim, and chasing retail as well.So Al goes on there too. Don't kid yourself, but this story, I mean, we're in this market where story carries stocks 10 times further than you ever think they could. And I way underestimated the story of Trump here. So that's on me. Obviously. I could have made a lot of money on it, cause it did buy at a really good price.And I sold it thinking like I did not see anything like this ever coming. Joel, so, and Spencer, I know like you had like 13 to 17, you should've seen me. So I said, I'm live hurting. I was like, I'm going to sell this thing. The first red candle that we get the first read, 15 minutes bar that we get I'm done.And it took, it took a little while. But it came at like 1130. I think this was, I got the chemo trays and the shots and this isn't WSB. I mean, this was the number one stock on wall street bats. They've actually, I believe taken it off this morning. It's mentioned so much. Am I incorrect with that? What do you mean?I believe this was the number one stock mentioned them all street. Bazzi that's not what I'm seeing. It's among the most mentions it's. If you go to the top of the page right now, there are like a couple of this is, this was the number one stock on Reddit and wall street bats yesterday. But this isn't just Reddit.So I, maybe I should, this is all social media. You go DWA. See, you know, and I, and I've talked about this on the show, go DW, racy, go to your. Type in DWA C go dollar DW, racy, and go to latest. Don't go to top. Top sucks. Go click. Do you know how many tweets are happening on DWA? See there's one a second. This is on just Twitter.There's one as second. So maybe we shouldn't call, just read it. This has retail frenzy at its best. You know, I've never seen a stock Juul on Twitter. Getting mentioned once a tweet, once a second on DWC, like you go to latest on a normal stock. If it's like just a small cap, like nothing stock, it might have a few mentions that day.You know, you go to apple and it's got one every few minutes you go to DWC right now. It's got a tweet. Every second, everybody is talking about this stock. So you've got wall street bats. You've got Twitter. You've got probably discard. You got every social media platform that his friends seeing around the stock.Uh, I'm an, you see it got 86 now? Why not a hundred? What? Like, why not? I mean, it's come this far. I don't know. I was looking at it last night at St. Should I buy it at 66? Because it's probably go into a hundred. Why not? Yeah, exactly. No position in it. I don't really, I did obviously yesterday, so that way too soon, spatsy had the same thing.We sold it weight too. Same way. Underestimated the power. I can't believe it. If you're holding the stock and still holding it from $10, you are an unbelievable. Diamond hands. Yeah, you got an 800% gain on one day. That's incredible. Yeah, just GWAC. There's also H U N fun where somebody somewhere on the earth in an article in USA today from a year and a half ago about the, the Trump, the Trump campaign app partnering with Phunware, and now fun is going to the moon.Apparently just speculating that Trump might do something with Phunware, just speculating, just a speculum. Trump market is back here. I mean, now you've got to look in, you know, You know, we, we obviously have this Trump market for awhile. You know, we took Trump stocks, Trump stocks, and this was infrastructure.It was different things, you know what Trump is going to help with. But when he got in, in 2016, I mean, so now you've got to look at any potential rumor that, oh man, you know, it's this one over here or a mention or something. I mean, do we have to, re-watch the Trump Twitter feed as Trump tweeted about this stock or he can't tweet, I forgot he's gone the whole point to it all.How do you see what Trump is saying right now? Is there any way to see what he's saying? Or this is the whole point that the stock is, we're going to be able to see what Trump is saying again, and he sends out statements. He sends out statements. Um, Hey, uh, w w well, let's try it. I'm trying to bring on cutting click here.Try to get his camera working. Uh, and now I want to trade in this thing. He'll be back. This little guy have worked really well. I mean, he such an uptrend, you know, that'd be, was probably just chase. I, I don't know if Kenny's camera is working, but I put. So I want to bring them on and I think, oh, there it is.There we go. Kenny Glick. Good morning, sir. Good morning. What's up? Y'all have you ever seen a stock move like this and one day eight, you know, like a small DWC back, first of all. Yeah. Well, I, I just rolled in from Colorado, so I, I don't really know what the hell you talking about. What's up, I'm studying about Trump, right?CWAC is what we're talking about. $10 back yesterday. It's an $87 stock. 24 hours later. 10, your friend has the warrants here and 8 cents. I think he's up 2.9%. Million percent. Yeah, it was 50 cents in the warrants this morning. Just for fun. DW w then it just come on. We've seen it before. What about, what about broadcast.com?They will get a stream of Victoria's secret models on the internet for the first time the stock went from eight bucks to 220, then. So I've seen tech bubble. Yeah, I've seen it before and again, why not buy it now? Because 1750 gets you 2020 to you. 22 50, 25, 30, 35 40. If you get into the fifties, generally get to the eighties.If you get 20, why 2120 then two 50 today. No. No. Why not? Why wouldn't it. It's why not two 50 today. It's a good question. I mean, I'm not coming in fate and then I'll tell you that much. I'm not going to be the hero faith and this one. Oh, I know why. And not for nothing. It just broke V Webb at 77 bucks. So I bought it.So it's blue lines for me. I don't care what it is. You, you, you give me momentum to give me a break. 70 sevens getting me one 20. I'm looking for one 20 right now and my stops 80 bucks. So I'm, I'm risking $3 to make a hundred and 140 points on the trade. Why not, this is the environment we're in. This is 2021.This is the new normal, as everybody loves to say, I've seen this, I've seen this movie and it's just better this time. It was 99. It's better this time because there's actually more fluidity. There's more liquidity. There's more reasons to get involved in this casino. It's a government sponsored casino this time.This is fantastic. And there were no commissions, Kenny. Exactly. So, I mean, I wake up in the morning. I press a button. I buy something at 77. It's at 93 now what's to complain about, but everybody seems to find a reason to complain. Let this be the new way we can. I love it. This is the greatest moment of our lives market.This is not knowing about anything that we're buying letters, prices, blue lines and Ahrens lines. This is my dream come true. And I'm not even trying to be funny here. I was sitting with Kenny coming on. I'm like, I wonder what crazy stock. I wonder what's going to happen for Kennedy, you know, because, uh, this coincided with the workhorse.And then I was like, so I was, uh, this was before I saw you on the schedule coming on, uh, for Friday. And I'm like, oh, wonder, what's going to happen and wonder what's going to be though what crazy thing that is going to want to talk about. So, uh, but it's, it's a it's well, metal market, right? It's the best way to put it.Absolutely. There's one of these every day. Look we had a, we had, we had a biotech stock or P H will that ever get back to 77 bucks? No, but it went from two to 77 that day. You got Alf, you got orf. I got a list of a hundred. You know, and then you want to go back and talk about a Ford, Hey look, Ford options.Two weeks ago was a 300% move, a 500% move. So it's all about where you look, you know, you get 10 cent move on a 12, $15 stock that hasn't moved in, you know, 20 years you make 20 times your money on a Ford option play two weeks ago. So they're out there. This is just, you know, more exciting. And which you what'd you think it was good to go?I mean, I saw it on the, on, I got off the airplane and we were talking about, I'm like, oh, this is gonna be fun tomorrow. And here we are. I mean, this is insane. Um, Kenny Glick, Phyllis nor member was the first he brought us Nick, the Nicholas back before that converted last may last June, 2020. He was on that train earlier.So yeah, you can, he just not care about. The company that none of that you don't care, you just care about the chart. I did. I did care about Tesla and by the way, we dug up the article where I called it for it to go to 4,000. My call was, this is going to be one of those stocks where it's going to get to a point they're going to split it and everyone's going to buy it and bring it right back to the same price.So my call was for 4,000 we're here. This is it. So if Tesla can go from $125 a share to 4,000, where did we lose the idea that any stock could do that? Now, any stock can do that because the, we have now taken over the market. We personally, we, these the, the internet people have taken over the market and it's about time.We are controlling. It's not Goldman Sachs upgrade again, downgraded by the way, let's give a great, never forget the Goldman Sachs AMD downgrade of AMA, uh, Goldman Sachs, downgrading AMD three times. Nobody knows that. Nobody knows anything you join in, you have some fun, don't get greedy. That's what it comes down to a little greed, a little bit of greed.A little bit of discipline goes a long way. Don't be too greedy and a little knowledge of what you're doing and you can join in on this frenzy. It's it's the greatest time to be a trader in the history of ever phone is to find the idea. So you're just using scanners or using Twitter or wherever you find the next DWC.I'm just looking at the percentage gains. It's always coming out of some $4 stock that goes from 80,000 a day volume to three in the morning. Right. And then suddenly that 3 million shares turns into a 40 million like BBI G BBG. I still don't know what they do. The tech talk of India. Great. I'm all in.I'm all in. I'm playing it up. I'm playing it down. It has options. broke there. Like you get out usually when the momentum breaks, don't you. Right. And then, and then I wait to see if it, if it, if the pump does not become a extreme. And just go away, like the orf at we're already alpha for an example, but then the volume comes back.It wakes up because the shorts and again, I'm a shorter, we always think, all right, it's going back to zero. That's our mantra coming back. And then when it doesn't go back to zero and gets that life again, the shorters who are still, you know, waiting for it to go to zero, which I don't understand why they short a stock firm at $4.What's your end game, four more points, but they get caught and they get squeezed again. And it's a lot more fun, you know, sometimes it's more fun the second time around. Are you still in BBI G? No, that one, that one, I, I, I luckily got out. I heard there was news coming. I don't want to be involved when the stock, when everyone's thinking the catalyst is going to be good.It's not. When the catalysts that are good are the ones you don't know. And then, Ooh, look at me. I'm surprised let's go like this thing when everyone's thinking the cattle is going to be good. It's never good. It's never good. So I got out and apparently, you know, I have, I have a call spread on it because again, when you can lock yourself into a limited, limited game, a limited, uh, you know, neck limited, possible loss, then you can play these stocks, but never, never owning.I own Ford right now, Ford SOF. I, I own real stocks. The QQQ SOF and Ford. That's my portfolio right now. And I'm loving it most. The day trading is back. I trade every day. I've got my, my team. I've been showing them the V whap and it's been working extraordinary. Earning season is our time to shine. And it's been, it's been pretty much the greatest year of AIPAC.Since 1999. No, no joke. Okay. So just to play devil's advocate here, what would you say that he will to like, well, look what happened in 2000, right? What happened in 2,002,000 was different 2000. It wasn't that the market went up. I made more money in my, my career on the way down, because when rational thought takes over, even for 10 days, 10 minutes or a year, I love shorting.And that's when you really get an idea of where stocks going to go. And that's when your skill set comes into play 99. Everybody thought it was this great year because the market went up every day. No, I played the crash, but this is, this is the best trading I've seen because there's that much more activity.There's liquidity. Like I've never seen, I've never been able to trade pre-market like this. I still don't trade. But trading pre-market just around V web with the volume coming into these $3 and $10 stocks is an unbelievable why invest in the stock market right now, when you could buy a $4 stock that goes to eight before nine o'clock and then it goes from eight to 50 in the regular session, and you just kind of manage, you're just managing.Realize what your trading, you have no intentions of owning this thing when the trade is over, get out, because it's generally going to get a lot more. This is kind of one of Nick's name. I was young obviously, and, you know, 1999, 2000 2001, but I can kind of remember this same thing. Like I can remember, remember Todd sitting beside us Juul and the parade office.And he was playing just like Kenny. He's like, well, you know, I'm buying Amazon because you know, if it gets, you know, you know, if it goes to, you know, $80 and it goes to 85, and then it goes to 85, we'll get you to 90. And he would sit there and he'd make like 20% on Amazon. And this was the way Amazon was trading back then, like every day.And I'm like this guy just, and he was just trading the momentum a lot, like Kenny would do. So it was like that environment times, like there was like a stock, like DWI. I shouldn't say we never seen it. We saw this all the time back in 1999 and 2000. Do you remember those days? Th this that's why? Look, I'm the green.It's not because I seen the movie before and now I have a skill to appreciate what I've learned for the last 25 years of doing this. I'm telling you with as my sort of justice and my, my, my, my truth teller, right by my side, my head basher, if tells me to get out of some of these momentum trades and I ignore it, I deserve to lose my money and that's how I'm playing them.And I played every single one. You haven't, you can not name a stock. That me and my crew were not involved in this year, not one. And we traded them pretty much perfectly, although the one, the ones that get halted and they come. And the whole three days later, and you're screwed if you just tell us thoughts.Well, that was orf. Yeah. Some people are queued up by that. Yeah. And yeah, we definitely got morphed, but most of them there's such liquidity that you can get out and yeah, you're not going to catch the top or selling in the moot we're selling into the move. And even when they're crashing, you're covering on the bottom of, you don't know when it's going to turn around and get squeezed again.But right now, I mean the skill set that we had, and I'm telling you guys, if you don't use . Um, and I gotta, I gotta get out to another seminar because I got to talk about what these guys are doing right now. So I've been doing, I've been doing a lot of morning shows lately and showing people how you want to trade this market.Use the VUS. You there's a lot of different logical ways to look at it, but more importantly, guys on ham, there's a contest. I'm up for financial influencer of the year. They're using bots against me. I need you last night. Send me put the link in the show, helped me win something without having to pay somebody off, because I just went from 200 views, 200 votes to 3,700 votes in, in a day and a half.He's paying them. They're not allowed to do it. They don't want me to win. They're going to steal it from me. I know who's the best influencer. I influence everyone. A lot of people say that in that a good influencer I've caused them a good influence, their influence. This is, I was wondering to put your Twitter handle up on the screen there.So is it on your Twitter? I'm going to put it in the room right here. Hold on a second. Okay.I'm the guy that's wearing criminally negligent. T-shirt that's my, that's my mantra. Criminally negligent. Somebody, somebody called me that once, about eight years ago and I went with it. She said, you really shouldn't say the market's never going to go down. It's kind of criminally negligent on your. Is it, where are we now?Well, the queues are up 300 points since that conversation, Gail, if you're out there listening, not naming names, that name and names, right? Not naming names, but this is it. People, if you are losing money in 2021, call me, I will save you from yourself. I feel like I need to be saved right now, man. We love it.One more question, because this is where I run into trouble. I, you know, the entries and I do well at the entries. The exits I've always sucked that out. I always sell too early, you know, like I'm in DWC and I saw way too early audio hold for like an eight hotter percent gain is a possible yes, you sell into the move and then you have, what's called the F U lot.That's the lot where you don't care and you let it ride. You got 800 shares and you sold in 5, 10, 15, 20 point increments. You got that last. Then you say, yeah, let's see what happens here. Maybe it does go to one. Yeah. That's the only sizing key to holding. So you've got size and then slowly, you know, yourpiece at the end, you know what happens? It comes all the way back now. Yeah, the last lot, the last lots that I don't care a lot, but my God, this is, I didn't think we'd have these conversations again. Thank God we are. It's fantastic. I got to run. I'll see you guys later. Let's come back to this one next week.Definitely. Yeah. Kenny, go look everyone at hit the bedroom. Here's the Twitter handle. It's up on the screen at hit the bid radio on Twitter, uh, worth the follow up chat was all over that they loved him. Uh, so, oh, we always good to hear from Kenny let's let's move on here. Um, Beyond me, what the hell just happened to be on me?Go, go to it. Okay. Hold on. It's getting orf need is getting orf right now. So they just, they just pretty reported. They were not on the calendar. They came in to update the third quarter and the update is not. So they had given guidance. They had given guidance. They had given sales guidance for the last quarter of a range of 120 to $140 million.They just, now this morning, like a minute ago, came out and said, oh, forget the 1 21 40. It's actually going to be like one oh 6 million. Gross dock not growing. And now you're breaking down through all support levels. So there's some certain stocks I love buying the dip on, but when you take out and we've talked with 100 support and beyond me, this was the level of all levels.So you got the April 29, 86, the may low 142, the recent October load, $98. And now you look at it through all of that on terrible guidance. Old resistant or old support, 100 becomes new resistance. So keep that in mind. If you're trading beyond me today, I would think massive epic, super duper as Joel would say resistance up at 100.It's a nice short opportunity that gets up to 97, 98, 99. We can somewhat limit the risk. That's 90 4:00 AM a little bit too far away from my short, if somebody was paying attention and selling it through that good job, obviously because the stock is significantly low, that catching it, going through the level bounces back to that level, I think would be a good selling opportunity.So ugly. I will not be buying the depth and, uh, beyond me today, uh, your, your next monthly level is, uh, 88 51. That was your may two 20 loans. So, uh, we're only five bucks away from it. And, uh, boy, just quick, it had to be quick catch the news on that. Of course, Dennis mentioned a resistance, but uh, that's one monthly, low 88 51.If you're looking for a little bit more on the dump.So we took the show away for a minute, just because of that. I was trying to skip over Intel too, because I own some shares of Intel in the longterm portfolio. And man I'll use stocks value investing is just, it is just been top. You keep thinking, oh yeah, value investing is back and it was looking good for a couple of months.Value investing was coming back. This market is driven by story. This market is driven by hype. This market is not driven by PE multiples. And if you're coming into a stock thinking, oh, it's pretty cheap. Cheap stocks tend to get cheaper. A K a I B M with the IBM move yesterday, I looked at my Intel shares and I actually thought about selling them.And just for the simple reason is that they're not liking value stocks at all right now. Intel quarter actually wasn't that bad, but it doesn't matter. It's not a sexy story. It's not something that everybody wants to go into. It's something that analysts are definitely going to chase price on, which they all do this morning.The quarter wasn't that bad, but it doesn't matter. It's getting hit. And now you have, you know, the herd effect because every analyst's downgrading the stock today because they can't think for themselves, they just have to come in and downgrade the stock after the stock moves down 10%. Thank you all analysts who downgraded it this morning.Um, you know, it's just it, and obviously I'm a little bitter about it because obviously I own this in the longterm account. Um, I've been all over it. I bought it 53. It was looking okay. 56. Now it's a fit. I don't know what to say. It actually, it is a cheap stock, which cheap stocks get cheaper. I guess he just got a trade story.50 bucks. They're terrible. Uh, you want to give the numbers? Are it really does. It was a sorry. My, my, my computer, my computer is being really dumb right now. It's kind of, it's being freezing up on me. So I'm sorry if I'm breaking up, but, uh, the headline numbers actually weren't terrible, but it did just, I think, throw the kitchen sink at this.As far as all the bad news was concerned, they said that they, they guided that their, um, or their data center revenue, uh, fell short of estimates and they guided that down cloud services that guided that down. Uh, they guided the gross margins down. They said the gross margins are actually going to fall for the next, like two to three years.They're going to keep falling. And on top of that, it's going to be bad for two or three years. They did this before Intel. And that was your clue. And you know, it gets forgotten and you know why it'll probably get forgotten again. And there'll be a time where, you know, it'll pop back up again, but it seems like, you know, and we know a support, a huge support at $45.So it's $5 lower than this, but you can't say stuff it's going to be bad for three years. No. So no, to all the CEOs and CFOs, and everybody's on these conference calls, if it's going to be bad for three years, don't project it out three years because it's not going to, to wonders for anything. And you know, let's be honest with what Kenny just said, nobody knows anything.You don't know where the hell you're going to be in three years. And this in this world, supply chain, all kinds of different things. Nobody knows where we're going to be in three years. So don't even try to project that far out. So I want to bring it back to Spencer. Oh, sorry. No, I mean, I'm happy that on top of all that the CFO is leaving, so that's never a good thing.Never goes out, even if it's, even if it's on, even, even if it was known before and it's never a good thing. We had that Colby Howard on. Remember when, uh, they, they switched, we never followed up with him. He's the one that analyzes the changes in, uh, in the C suite. Maybe we should dig him up on this, but you did get a bounce off 50 bucks just cause it's a, you know, a psychological level.But if you look at the bottom right chart, man, or man net $45 area, look at all those monthly lows. One, two, man, there's at least a half a dozen monthly lows. Don't know if we'll see that 45 yet today or will say though, I mean, it hit 50, it's bouncing, but it's not like people are, you know, the reason it's not bouncing is all the short term traders that picked it up at 50 0 5 50, 10.They're just flipping it out. Uh, so. No potential upside in this one. I didn't even look at this area right here. 50 84 is, uh, is a resistance. I know I'm not buying the dip. I own it. That's my book. And I'm not buying the same here. You have it still too. Don't you? I don't know. I think maybe we should just stop diversification and just start going all in on the hot story of the day.That's what seems to be making the money. And that's a little bit of sarcasm involved. Obviously. I've always been a big fan of diversification. DWI. See, I think Kenny might've just got stopped out on that. It's down to $77, but hot stock of the day. So that's what I don't get. You know, like, you know, it's a strategy and I know Kenny is very good at trading the momentum, but when things are like that, you get, you get these stops and put these train stops off.I always feel like I get stopped out. I mean, you know, and this is, you know, not my cup of tea trading, a stock like GWAC. You guys know that I'm a relationship based trader, but I'm looking at DWC and I'm like, okay. I went to 93 and now it's back at 79. Now I'm stopped out. Now what often happens is the natural pull.You can stopped out when it's falling back and now it starts climbing. And then it's out a hundred later on. You're like, well, what the hell happened? I lost, you know, I got stopped out and the thing continued higher. It seems like, um, when I've trading those kinds of stocks, which is maybe why I shouldn't trade those kinds of stocks is I always get stopped out.I don't know if anybody else in chat feels. Um, my computer is acting funky right now. So I apologize if I don't find me, but there there's a couple more earnings we can hit on or we can just go, go do some ticker time here. I mean, there was some, we had Chipolte late last night, we ended up, we ended up, we had a couple more big, bigger supports.I don't know where anyone else wants to go. We can just go, go to the chat. Um, but I guess, I guess maybe we could do to pull away. Cause it is, it is one of the bigger ones, uh, to report last, uh, from last night and their earnings per share B their sales B their comps were up 15% year over year. Uh, which I think was okay.They said they're raising their prices, I guess. Not, not to be surprised with that shocking. Oh yeah, no, 2% inflation though, as the Cleveland fed was saying, oh yeah, we're running a little bit. We're we're right there on target with our 2% inflation. It's just reduction. $1,800 pack. This is, this is, um, can't really give a lot of F uh, put a lot of emphasis on a pre-market action now, but I got a pretty good feeling.This one, just this trading range that we've been in for quite a while, where are busting up near the upper end of that trading range? 1778 was the bottom 1870 was the top at 1849. So it's been in that range for a while. So I kind of go with the momentum, if it can bust above 1870, try and get back half of this move under the 1778.We're still like a hundred bucks away from that. Uh, you got some room, not room on the downside here, but, uh, the restaurant. Yeah, I just wanted to check on, um, what was the, was it breaker? Was that the one that got it? Yeah. It tried to come back that day, but boy, just, they set the bar low though for, to set the bar low for a lot of these restaurant stocks, because they said a lot of bad stuff and you're right.It didn't get, you know, and a lot of those other restaurant stocks actually did bounce back, DRI DRI I trade down like 1 41 in the pre-market. They won't see it on the chart, but it was, and DRI is trading higher here today and got it all back. So it actually, so slowly ended up being a buying opportunity for some of these restaurants docs.I was even saying like Starbucks, which hasn't really moved since I set up, but I still think there's concerns there though. So I'm not going into those sectors. I think there's easier money. Obviously. There's easier money as we were just talking about, if you just throw caution to the wind and chase the hottest stock.But, um, I just think, you know, there, it's not over for the supply chain problems. So despite Chipotle, you know, looking, you know, okay. Like didn't have any issues. I don't know that they're not going to have issues going forward. I don't know that I want to jump into restaurant too. Great. A couple stocks chat.What about PayPal? Let's talk about that PayPal move yesterday. That was something else. Well, they can't stop hitting it. So this is a serious move for a love to stock. And I mean, PayPal is very loved and that certain point in time you probably do think, okay, one does the Trump news change their opinion?I don't know if it does, but does it possibly does the snap news even, you know, like not so much the Trump news like that, wasn't good for it, but the snap news, does it change their opinion on Pinterest? Because they're all related. I mean, if they're sniffing around here and they see, and they see, you know, Snapchat and Facebook and the advertising models, and I'm not sure how much that influences Pinterest, you know, I'm not, you know, the tech guru here, but I think there's going to be some impact.I think like, okay, well maybe they don't want to pay $70 a share for Pinterest. I don't understand why they were doing it in the first place. I would like to have saw them go to the square route. But you know, you saw some synergies when you talked about it yesterday, Spencer. Um, e-commerce I don't totally get it.The market obviously doesn't want them to do it. And stock price is spoken. I mean, there's no way PayPal would lose 30 points and lose, you know, over 10% in the last two days, if not for this rumor. So if, for whatever reason, just saying scenario analysis, if for whatever reason it comes out. Okay. Yeah.They're there, they're out. They're not buying Pinterest. You'll see a huge rally and PayPal that happens. So just, you know, I'm not saying that's going to happen, but you have to always be prepared. So at a certain point in time, PayPal is a stock. I would buy the dip on. I'm not sure if it's a 2 44, maybe a way to get a little double bottom.Maybe you get yesterday's low and it doesn't go through it. 2 42 98. But I don't know what you nibble on this one. Joel pay pal. Well, for years now is that you got a lot of people stuck. Right. And so, yeah, I mean, those are two big thick red candles there. So you got a lot of people that tried to pick a bottom and it, the last couple of days, the two 50 to 2 53 that has a work.And then you also have to think about, you know, there's a lot of people still sitting on a lot of profits, right? I mean, look at the move. That thing had from basically a hundred to 200, uh, last year, and then you're still at your two 40. So there's big institutions, the big players out there they're, they're not, you know, their cost basis is lower and they're not buying it at two 50 open the solid at 2 52.So I would just take the look on the monthly sear. Uh, your, your next monthly low comes in at 2 30, 360 1. So if, you know, if you think this is a, you know, an overshoot you risk, you know, while you're up a little bit, you're up a buck, 48, uh, you know, risk 10 bucks maybe to try and make 20, but it's just, it's got a lot overhead supply here.I think if the news comes out, it will get a pop, but it won't, it's just not going to be back at it. I shouldn't say it's not going to be bad, but to get back to two 70 off the news we're leaking in here and the S and P status, you got some, uh, you got some, we were as high as we were, you know, so I'm not going to say it's news.I'm like Facebook's down 16 bucks. Google's down 43, which is off the lows. You've got the Snapchat implosion of the tune of 21%. You have some of the other stocks, you know, are leaking. There's a few stocks holding us up, but I don't see anything being a hero here. I mean, You know, we've got, you know, Lowe's is trading up a Bach.I mean, you've got a few things, trait and higher, MasterCard's up a couple of box. There's some rotation keeping us, you know, a few stocks up here, but I don't totally get why the S and P went up as much as it did on, on this. But, you know, it's hard to, this is this sometimes thought doesn't work. And when we're not saying, I like it's the buy the dip mentality that obviously brings us back always.So, and that's not broken. And, you know, I think if I was to put a target on spy, like we already hit the Spencer Israel target of new highs. We hit it yesterday or the day before on new all the time. So which we did on spy. Congratulations, Spencer, Israel. I don't see this market. You're coming into a season.That's historically strong for stock. You're coming into a season where money doesn't know where to go except stocks, because like I said, am I coming in and buying the TLT? No, it was a fantastic selling opportunity up at 1 46. We talked about that three days ago down again. So maybe I should just be a TLT trader, but I just don't where to go.So I think that money.I don't know, I call it for new highs. I didn't, but after that, I didn't put much thought into it. So I think you could see like 4 75 by the end of the year. Why not? Um, I don't see, I don't see an alternative. It's the only reason like people, you know, or, you know, you can have a lot of things that can be concerned about inflation.You need to be concerned about rates going higher. You can be concerned about, you know, lots of things in the regular economy. If the markets chosen to ignore all that stuff for a long time. And I don't know where it goes. I don't know where the cash goes because inflation is scaring people who are just holding cash.Personally, I hold some real estate. I own some stocks. I have a little bit of cash for a cushion, but I've, you know, like I said, on some of my cash portfolios, uh, while it goes up to 40%, I think I'm probably like 25. I'm still sitting with cash and I never go under. So I always have some cash, you know, you always want some cash for some cushion.So I never ever bring my longterm portfolio all fully invested trading I'm on merge and I'm using, you know, break trading capital. So I guess it's not merged and using break trading, capital's completely different animal, but for my long-term investing, I always have some dry powder just in case, you know, you get some significant sell-off in a stock and you want to get in there.I never liked being all in. So I range probably between 15% and like 40, 45% of my cash component, depending on how I feel I'm at 25. So I'm like, I kind of, you know, feel fairly confident about stocks or I would be up to like 35 40 right now. And you know, and it, you look at the economy and you think, okay, well maybe I shouldn't be, you know, thinking like that.If interest rates is starting to rise, it's not good for stocks overall, but then I think, well, where are they gonna go? So it keeps me somewhat invested. I, I want us all to think about if we can, if we can brainstorm as a group. Cause I'm thinking more about this NAB chat news, right. And the implications.Now let's talk about this. Cause now you've had two major companies. You had Facebook and you've had Snapchat, both come out and an out and outright blame Apple's new privacy update. You know how you can tell the app not to track you. You know, we've all seen that by now. Um, they, Facebook and Snapchat now both blamed that for, for, for poor advertising and lower, lower earnings.So what other companies are out there that are app based advertising drugs? Companies, uh, not necessarily a subscription like match group and Bumble had great and had great days yesterday because of a different headlines from Google. But those are both subscription-based companies. That's how they make their money.Um, maybe everyone has been to, um, I don't know the breakdown, but there have to be other companies out there that are app based that get there that derive their revenue from advertising that are also gonna come out and blame apple for poor performance. Chad saying like Zynga. Yeah, there were tons, but I'm, I'm having a hard time here thinking of them.I know there are many more out there. Um, but, um, I mean, Pinterest, we just talked about I'm in Twitter. Hasn't said. I am scared owning Twitter right now. So for all these reasons, even for the Trump reason, because you can say, okay, well, Trump, maybe this'll never come. You know, maybe the product won't launch, but I probably is going to, he got Trump behind it, this huge supporters.And there's going to be a lot of people that are going to go on that platform. So I think it is common ma ma maybe, maybe Etsy. Um, th the trade desk is maybe the trade desk. It's more of a ad infrastructure play. Um, I don't, I don't know if Uber makes any money from advertising in their app, but, um, Twitter, Twitter is an obvious one here, right?If, if, if, if Facebook and Snapchat have both come out and said, yeah, this apple thing is, is not, it's not helping us. That's for sure. Then when Twitter reports, I think they report next week, um, You're probably going to say the same thing. I just pulled the trigger on that. So that yesterday had the, the Trump, uh, and I'll uh, how do you think can to better?Yeah, this is good news for Twitter. No, that has happened in the last 24 hours is good news for Twitter. Nothing. No. So maybe it's because it's, maybe it's holding up, not bad. So you think, okay, well maybe it's going to shrug it off, but I I'd be very scared of Twitter right now. I don't have any position in it.I would not want. Yeah. Um, I don't know if I'm sounding the whole, I mean, it's down 4% with the snap move, so maybe now obvious, obvious people can see that, but yesterday was a great opportunity there. Yeah. I would say thinking about it all during the day and then, and then I did it and then boom, there you has to have, but, uh, see, I mean, they hit it down to 60 bucks, got back up to 63, 50, 63 50 is going to be your, your short-term, uh, short-term resistance.Uh, The bottom of yesterday's range share a lot of people. I'd like to see that at 64, 74, that's another, another two bucks away. No, see that happened in the day, the low of the move, the recent low, the move has been, uh, just under 58, 57, 64, but we bounced so hard off that 60. And I think I did at days like this, you know, anybody that like a wild man, my 62 foots, aren't going to do, you know, they're going to go off the board and then boom, they see the stock at 60, you know, they can scoop a lot.They won't, you won't have, you know, next week will be a different thing. But I think that's what, uh, is adding a little bit to support, especially that 60. I mean, if you were, you know, short, uh, you know, the 60 puts or something, um, you know, a lot of, uh, a lot of optionality I think is going to dictate the movement here by 60 holding up in the pre.So some good ideas, uh, from the chat, maybe roadblock, maybe RV LV. Uh, let's talk about switch gears for a second. I'm just trying to get some ideas out there. But a few people have asked about Sam Adams, Boston beer company. This one, this is interesting here. So their, their earnings per share for the last quarter was $2 97 cents.Their earnings per share in the same quarter a year ago was $6 and 51 cents. So they went, their EPS went from states and a half dollars to under $3 in one year. Um, for a lot of that is, is input costs and inflation. Um, I didn't look too closely into the reports, so I don't honestly, and like we've said, craft breweries are not doing any good for the majors, like tap and Sam and there's craft brewery.There's so many of these popping up it's competition. That's not going to go away. So the little guy has competition from the little guy, so that doesn't bode well in the longterm for it. What I will say. Is a lot of expectations for Sam are so utterly low, the stock has been cut in half in the last three months.You need to hold, if you can hold this 4 96 low, which is the low from October, you got a chance to rally on bad news. So, but that's the key level. So if you're coming in here, I don't mind the setup you're coming here buying a 500 bucks, which is just take $500 right now. I stopped myself out of 4 95. So risk and about a percent.If you know, it might see this one. Okay. It's it's, you know, let's just, you know, get it all out of here and everybody thinks. As this has done. And you know, maybe this is as bad as it gets. I don't know. I'm not saying for a longterm investment here, I'm saying for a trade buying 500, stopping yourself out of 4 95, isn't bad risk reward because you could see something like, this is one, surprise me.If it's one that could shrug it off. If it goes down to 4 95 would say I'm wrong and move on. So I'd say I'm risking about just over at 1% right now, seeing if it can be one of those situations where a stock rallies on bad news, Intel is not going to do that. But Sam has had bad news for so long that it has a kind of tendency where it, so it has that potential.Not saying it's going to, but it could, I don't mind the risk rewards set up to lose five. Right on the move. Um, another, another way to look at this too. And if, you know, if you, if you're not looking at that kind of strategy, you know, pick and you know, the buyers and lean on it, uh, the, let it show some strength.And, uh, you know, a couple of times you bounced that the fight in our SWAT, we know why wait to buy it at five 50 when you can buy it at 500. Well, they may never get to five 50 and then may go to four 51st and then, you know, you can, you know, uh, you know, adjust your strategy accordingly. They have a taken out that low there's some other reasons that I, I liked that level as well, Dennis.Ooh, what's that next level? No, you took out the 5 34. What's your next monthly low 5 87 95. But it just seems like it's been thick around his 500 for a while. You got some accumulation. Pre-market I have 5 25, but I resistance at the close 5, 17 22. For those watching the beyond meat has at least pause for the moment, but while we're on it, you know, we should have talked about tattooed chef PTC F, which is also treating down with it.And, um, uh what's um, uh, OTL Y is, you know, any, any of these alternative plant-based plant-based companies are going to trade down with the, beyond me today. So watch those, if you haven't seenand then T tattooed, if you have it up there and then OTL, Y Oatley oatmeal. I mean, if he just tasted the beyond meat burger, you probably wouldn't have bought the stock. You know what though, if you think you're eating all plant, it's not that bad. I told you my four year old kid would, I wouldn't need it, but I would say in w the other day, and it's the price, you know what I paid for my w I ordered it beyond me because I'm trying to eat healthier.And it's not that beyond me, it's healthier, healthier options. I'm trying to eat less meat. I shouldn't say don't try to eat less meat fair, but do you know how much the combo costs me for fries pop, which I shouldn't get the pot from? Try it healthier. And the beyond the burger, but let's guess in Canada and in Ontario.Okay. So, you know, uh, coffee, a fake meat burger with fries and a drink. Yeah. Um, Well, that's pretty good gas. It was 1295. Okay. $13 Cabo. for five bucks. I'll tell you that much. You get your root beer. Oh yeah, you got to get the root beer. You got a, and w that's the whole point behind me? Burger burger, you choke it down with a good tasting root beer.I actually ordered an impossible meat. Paul stub out with a weekend. We were out to eat and I ordered an impossible, impossible. Meatball saw it tasted a little bit from, uh, Joe Brady. Uh, what's it called Joe? Uh, Joe, uh, it tasted a little bit off just a little bit. It was good, but it was just not. Not quite the same.Anyway, uh, it's 8 58 here. We got a couple of minutes left. We've run through isle a lot today. Uh, I had some good guesses here, uh, as far as the, the, the w thing, um, they knew. Yeah. Yeah. Um, what else am I watching? Uh, as far as gainers and losers, we've kind of covered the big ones here this morning, man.That'd be, I mean, it really came out of nowhere, pre reporting, never a good thing. I think people will actually look at, see the calendar of this morning. Is there anyone, even on the CA on the calendar, I should probably have looked at that before the show. I didn't see, uh, we had Cleveland cliffs this morning.We had slumbers here this morning, American express. Uh, it's the big weeks next week. Next week, Facebook is Monday. Everybody's going to be watching Facebook now with, after the snap report. And then you have Google and Microsoft and AMD on Tuesday, Twitter on Tuesday too. So you're going to hear from the social media companies Wednesday up forward and McDonald's, uh, Twilio also Thursday got apple, Amazon MasterCard, Shopify store.Friday, Exxon and Chevron oil day. So you got some big earnings coming. It's going to be excited. I don't, I don't own Twitter, but I'm, I'm I'm now I'm now scared for you. Uh, so I just put myself into being scared for you on Twitter. So I don't know if that means anything but 17 bucks come and get me.That's right. That's right. All right, everyone. Please remember all the information from our share is meant to be used as informational purposes every day. Every show, not for investing or trading or even wife or dietary advice for that matter. Uh,don't go to any w apparently in Toronto. Um, uh, thanks to Kenny Blake. Thanks to everyone in our chats. Hit the like button Joel, moving over right now to pre-market prep.com. We're going to hop easy symbols folks, man, take it easy on me today. Take it easy. I tell ya, but, uh, good, good job. Triple D Rick.You're way out of it. I don't think I've had a good job at all today. The DWA, see, I have seller's remorse. Something like I've never had it before. I like Spencer, you bought a 13 sold at 17. You're like, that was a pretty good trade. I got to give some props to my buddy, Alex on Twitter though, before we go, he just messaged me.He says he bought a bunch of stock between 1127 and 16, and he sold only one third at 45. And he's still holding two if he's still holding two thirds of the possession. So congratulations Alex there, buddy. Great whole that's unbelievable. Way better than I can do. I need to learn from you way better than me.I, all I took was one red bar to freak me out. You should've seen me yesterday. Sweating bullets over that one red bar. Oh no, what's going back. Cause it went because it went from 20 to 17 and like. Look what it just did the DWA. See, I don't know if Kenny did get stopped out or if he moved to stop down or whatever, but you know, he's talking, you know, 85 90, he got the 93, it just traded down like 77.Now it's back at 87. It's like, this is what happens to me. You know, if I'm in these Momo stocks, they know you say, oh, I'm going to trail my stop up. Always get stopped out. So it's like, you got to just not look at it. And like, and obviously then how do you control the risk? And I'm a risk manager at best.So I don't know, you know, even like I set up a trade for and Sam I'm like, okay, I know where my out is, but that's moving slow enough where it's not going to like he and stop you out. Stocks are going like this. They hit every stop, everything gets hit. So I'm not sure maybe you got to go really wide with the stops.I'm not sure. Maybe it just so caution to the wind. So it's tough. Just trade that stuff. Good luck today. Stay green.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Market RecapTesla Still Loved, will Tesla be immune to chip issues?Trump SPAC DWACEarnings from Las Vegas Sands, IBM, and moreIBM worse performing stock ?Bitcoin backing off from ATHIBM, MGM, LVS,TSLA2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Peter Tuchman, The Einstein of Wall Street, Wall Street Global Trading Academy 57:00Twitter: https://twitter.com/einsteinowallstMeet 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 TranscriptGood morning, everybody. Happy, happy Thursday. It's pre-market prep time. I'm Spencer. There's Joel. There's Dennis, what do you think we're going to talk about today? I'll give you a hint. Um, Trump's stock Trump stock. That's one thing we're going to talk about. We're going to talk about that. We're going to talk about Tesla.I'm gonna talk about IBM. Uh we're uh, while sitting at Sans, uh, we, we got some stocks. We got some sex chats all over it. Juts fired up this morning. I could see it. I can tell her. But, but from the, the pace of comment in the chat, everyone is fired up. We are fired up as well. Hit that like button for us.Let's roll with the charts. Joel, how are we doing this morning? Uh, we're in the red here, uh, by 14 and a quarter handles 45, 13 75 is where we're trading. Uh, that's down new, all-time closing high yesterday, not a new, old time high, but closing highs. That's a good thing. Uh, crude down 55 cents at 82 87. You have gold down.Six 50 is 17 78, 30 silver in the red by 29 and a half cents, a 24, 15 Bitcoin off 1400 bucks at 65 to 60, but the serious going the other way, a theory comes up $113 at 42 48 and a quarter. Good morning, triple day, fired up as usual. What do you, what do you want to talk about Trump stock jumps stock. I'm going to say that all day.That's from Kramer show, obviously, but did he say that? No, he had the button remember back like four years ago had money. And when Trump became president, he like whenever there was a stock that would Trump, you know, it would help the press, the button, Trump stock, Trump stock. Now we actually have a Trump stock.It's cool. This was a headline. I'm sort of a mad at myself for not seeing this one coming. You know, I like this in hindsight, it seems like the most obvious thing in the world. I traumas back. I mean, it's, it's a match. In heaven, right. And a social what's. The story is going to launch a social media platform.It's a soul. Yes. It's a new social media platform. It's going to be called truth, social truth, your, your symbol. And, and this is, this is why we care about it because, you know, we have this backs symbol here, DW AC uh, this chart is interesting. The reaction I'm overnight, I'm showing it. Uh, so for, uh, okay. So first of all, wow, I'm not quite sure if you look on the right-hand side there, you see that big cane.I have no, I have no idea what, what that's from. That's from the, the SPAC IPO, like three weeks ago. I have no idea what that's about. We're talking about the left side of the screen though. The top left and the bottom left that's from last night, this thing had 20 bucks. This thing it's. I got to go look at the tape of this one.These 4:00 AM traders that are just chasing price. And again, we should go on the ramp for about 30 seconds here. Before we get into the Trump stock, which is using this as an example, if you are chasing, if you're so hot for the stock overnight, you can't wait for the 4:00 AM open. You're going to pay any price possible.You're probably buying at a really bad price and right in the opening candle, it looks like we hit $20. It has been cut in half. If you bought at 20 or likely never getting your money back, or at least not anytime in the near future, um, it's come right back down. We know specs have huge support under 10 because that's where you can get your money back.If you don't want to go through with the deal. So pre deal, obviously you can have announced deal, but after, you know, the deal is announced and tell the merger is closed. There's the option for, uh, shareholders to just get their 10 bucks back. That's why you don't re you rarely see these things trade like much below, like 9 80, 9 70.After the fact. Now, once the merger closes, then it becomes a new company. Then it can go anywhere at once. But I would expect major support down at $10 on this. Obviously, for those obvious reasons. I don't know if it's going back. Maybe the buzz will bring it back up a bit, but wholly 20 bucks, you can forget about that.Uh, you don't really want to know what the value was. I'm going to try to open up this redo Joel, couple hundred thousand. Yeah. Somebody was really excited. I'm going to look right now. So right off the bat, the initial print, it looks like I've got $13. So it actually climbed. So it looks like it opened, the opening bar was 13.So you can see right at the bottom of that candle, I'm just actually looking right at the tape right now. Um, I can't see it on my screen, but I'm just going through the consolidated tape. So it opened at 13 and the next minute it ran to 14 and then it kept running the next minute it was 16. So at 4 0 2 30, 60 and a half, then went to 17.Then a four by four here's the top here's the top print, actually, believe it or not, five shares were bought at 2270. So it was an online show, odd lots. So somebody really got excited and bought five shares at $22 and 70 cents. That was a 4 0 2 32, a bunch of sheriffs, not, not a ton of shares, a hundred shares, uh, went off 69 shares a 2020 shows, all odd, lots, all really small trades.And you know what that's telling me a lot of retail traders. No one, you know, professionals probably not trading in 5, 10, 20 lots, neither of the algos. So then quickly in the next minute, falls to 16, 15, 16, that it bounced around for a bit in the 15, 16 area for the next, the next 20 minutes, but definitely overshooting that opening candle and then the slow, slow leak, leak, leak, leak, leak, Joel, showing.I like the way you do that. Just show weekly clique, um, and all the way back down. So obvious 10 86 here. Now again, I would expect you to support down at $10. I don't know if you're gonna get that low today. Uh, but if it did get down there, it usually, they usually, they had to get sucked into it. To be honest, usually it's backs eventually do get sucked back in the 10 bucks, but this is a Trump one.It'll have some buzz. It's going to be talked about a lot in media, so I'm not sure it's going to get all the way down to 10 today. What do you mean. No, it's, uh, I'm sorry. I'm sorry. Yeah, we're 10 87, 10 40 is the pre-market low. Yep. Okay. Very interesting trading. So, so, okay. Tell us more, tell us more social media stock.Yeah, I mean, w I'm going to get Chris catchy on the stream here? Uh, probably later today. Uh, I don't think he's, I don't know if he's available right now, but yeah, it's going to be called truth social it's it's it's from it's from the Trump media and technology group. That's the, that's like the parent company here.Um, and you know, we know that Trump got, got banned from all the social platforms. Right. Um, coming up with his own. So it was making his own, frankly. I'm surprised it took the. Yeah, actually, that's surprising. Yeah. So all I can say is, and then we'll move and we'll move on. And I'm going to try to be a little heavy with the moderation today and chat, especially with Mitch out.But, um, I can say is, I hope he goes doesn't match Mitch, Mitch abandoned us to go to a formula, one race and. And she wasn't allowed days off. No,Jason, Mitch's going to Austin, Texas to go see formula one racing. Yeah. It sounds like, it sounds, it sounds like a party, to be honest with you. I probably say that's a pretty good party. All I can say. And then we'll move on to these. I hope this goes better. I hope this works better for Trump than Trump steaks or Trump airlines or Trump vodka, Trump university or Trump network or the Taj Mahal or the castle or the casinos, the Plaza hotel, or any of those Sherman investing.They all failed. So I hope this works better for him than that. I'm a trader down below 10 though. Yeah. Okay. We have, we have a level that is the Reece back. It's the same thing. They get sucked back in the time that I let Dennis handle the technicals and this one it's facts. You know what the trade has been in all these back deals.You sell the pop there's. There's no thing. It seems like better to sell the river. Then a spark merger announcement, like sell on the rip on those things just works. And you think in this case, okay, it's Trump, he's got a huge following, you know, maybe actually it's going to hold on. No, it couldn't even hold on for four hours.So all the way back, I don't think it's gone. I wouldn't be surprised. You're 10 86 now. So your downsides like 90 cents at this point in time. So at a certain point in time, you think, oh, maybe I'd take a shot, but that's still 9%. And it seems like these things eventually do have a date back with, you know, 10 move on likes backs.He might talk, you know, it's been, I think it's been 12 months since we've seen a stack. Like off the, off the nouns. There's not a lot on the merger deal. You're right. They don't ever even get off the map because the algos are already hitting them 50 cents. Yep. Okay. So let's move on here. It's been 12 minutes.We're going to move on from that. A Tesla is your story, that your other story of the day aside, Trump's pack of Tesla earnings out last night and they were good once again, right? If you think back to last quarter, um, Tesla sort of showed everybody because all the other auto were like chips, shortages.It's hard for us right now. And Tesla was like, no, no, we're, we're fine. We're fine. With the wood chips. We'll, you know, we're supposed to have some chips. Um, and their deliveries were strong, but we knew that already. So last night they come out with her earnings for the prior quarter or the earnings were good.EPS, beat sales beat, um, talk to up there, their timeline for their, uh, facilities in Germany, uh, ramping production still. And in Shanghai, Timeline for the facility facility in Austin. Um, and I know there is a big debate going on this morning on TV between our old buddies, Jean and Gordon. Um, but the stock was very easy exactly.Last night after hours, but the numbers were good. The numbers were were okay. And the expectations were just super high. I mean, these numbers were, were, were great to be honest, but it doesn't matter because you've got a stock that has run up substantially before the report. Again, we're going to say the alpha extraction from being along major names before they report is quite strong.I'm going to say it's better than a 52% edge. It might be even as high as. Um, that, you know, you make money by buying these stocks ahead of the reports, the same thing. Okay. Two days, you know, it wasn't running, but I mean, you look at this for 10 day run on this thing. 10 days ago, 7 83 went off the board 8 65.So yes, the S and P has a lot to do with that, but I'm going to say the S and P wasn't up 10% of the last seven trading days. So you'd definitely have some major performance, although the S and P was up pretty good too, actually over that time. So a Tesla big run in big expectations, don't meet the higher expectations.Stock is still loved. Margins are still great chips. They did talk on the conference, call Spencer about some concerns there. So maybe in the last quarter wasn't affecting them, but the kind of were hinting going forward that they may have chip issues. So, I mean, so they're not immune to this as Kathy with thought.Um, so we'll see what happens going forward. And that might be why it's down a little bit on this report, because they were talking a little bit about the chip issue. Uh, but in, in any regard here, does this eventually have a date with a thousand? I don't see why not? Uh, we pre-market low we're trading right on the pre-market low.I see a, a daily low at 8 50, 1 57. And after that you've got a gap to fill at 8, 8 43 23. So there's a little gap area to fill and a way up. I'm sure a lot of people would like to see that close it a 65, 86, 65 80. So I'll give that as a resistance. Now it's had, it's had a big run, maybe. Cool. A little bit cool off period.Well, we'll see. We'll see if it has actually a couple of gaps to fill, but that's what I'm looking at. Uh, for support. If you take out a 51 47, 8 43. Uh, I forgot who it wasn't a chat just went test is overvalued. Well, yeah, I've been here. That's been the case for the lift for forever as it never has it ever not been overvalued, but it keeps going up.It's not a stock that trades on valuation game stop is not a stock that trades on valuation. I mean, this is trade on story and hype. The story is not going away. We know they produced a fraction of the cards, but let's give them some credit. Their margins are a hell of a lot better than, you know, a lot of the others.And that's when something, maybe a point that we hardly make on the show is that the merchants are incredible at Tesla compared to like Ford, GM Toyota. So, I mean, if they can keep up those margins, they should have a higher valuation, at least from the curves that they're selling, it has to do with, with, with selling cars in China.Right. Because if you think about it, like they make the cars that are made in China and then are sold in China. I don't have to get shipped to another country. Right? The bigger margins on those. So th th those two things kind of go, oh, I think marketing too is just enormous. They don't have really much marketing expenses.They don't have the physical showrooms really anymore. Joel, they got rid of those. I mean, it's all word of mouth, really. You know, everybody talks about it. Tesla's talked about everywhere. How often do you see a Tesla commercial Joel on TV? You you've never, I've never seen one. They don't ever seen one.They don't exist. You think about that. You think about how often you see, you know, a general motors or how often you see a forward. The amount of money spent marketing by the other automobile makers is an incredible amount of money and test it. Doesn't have to do. So the story has carried that as well and allows them not to have any marketing expenses.Really? Yeah. So, I mean, you got to consider, you know, w you know, what are their margins? It's like, it's ridiculous. It's up like 40%, isn't it? I think it's higher than that. 25% anyways, the margins on like for GM or like fractions of a percent, maybe it's higher right now because people are paying above sticker price.But I mean, you look at that and you think, okay, well, they've done a lot of things, right? You got to give Musk a lot of credit. Does the valuation makes sense? It's never made sense. Is it ever gonna make sense? Maybe not. That's why, you know, I try to be bearish to stock for a long time and it, it, it, the bear trade just has failed.So that's why I'm like, probably goes higher now, you know, do we get a pullback? Do we get pull backs with the market share, but I don't see this story cooling off anytime soon, I just did a country. I pull up the transcript of the call. They control F for the word, and Bitcoin is. I didn't even mention the client mentions of Bitcoin on the call yesterday.Okay. So tasks. We don't talk about that anymore. Apparently now, Bitcoin though, Bitcoin new all time highs again, Joel or what? Uh, well, yesterday we did back it off a little bit today. You see high blockchain. It's calmed down. It's down a little bit this morning, but man, Frank, Frank's doing some things right here in the last 30% running five days in that stock, it's been a nice round.Okay. Taking you back. It's so funny today, man. What are they saying today? Three, that Greta, I love this chat. It's like Thanksgiving dinner. That's chat's good, man. You know, and we, and we have some haters in there it's like 10%. It's like probably like 20% haters, 80%, you know, it gives us some love and the haters are funny too, man.Like, it wouldn't be a good shout without that. And then you get the war going on. And of course everybody's always, you say something, you know, like they, they want to give us a it's it's kind of fun. I mean, it's all kind of fun. they start threatening your life. Dennis has never done that. I don't think I've ever seen threats.It's so social media seems like it's like, you better watch your back. I'm like, okay,well, if you mute, if you mute someone, they won't know you that you can't see them. So, if you, if you're blocked, you can know that you're in blocked. If I block, I, as soon as I take a lot, I don't block enough probably to say something personal or they start to say, and you know me, usually 90% of it's, oh, that's last name, last name Dick.That's a low hanging fruit. So we'll hit that one out of the park first. So obviously, you know, like I've never got that before or these people are so originally, but anyway,the chat is good. You know, the hate we get in the chat is still just, you know, differing opinions and stuff. I've never seen a threat from the chat. So the chat, or we love our chat. We love your haters. We love the lovers. We love everyone. So just don't like. Threatening stuff. And that doesn't happen very often.Um, Joel was this close to threatening. Uh, the CEO of IBM will tell you that much. Cause uh, blue, again, white, big blue making shareholders blue. We never talk about it. What do you want to talk about? IBM for this? This has got to be, you think about, they were into, you know, Watson 20 years ago and they just dropped the ball on like everything.They literally, they don't even know how to play the game. So I mean, they had to buy red hat. It's their only business is doing well. And so that's all we can do is by growth. I mean it's old, it's cash cow. This stock has gone nowhere for 20 years. Where was it? 20 years ago? Let's get the case on IBM. Go back as far as you can go 20, 30 or 200.So in the last 10 years of the, one of the best tech bull markets we have ever seen, IBM has been cut in half. In that time. This has been the worst stock to invest in for a very, very long time. I got on board like a few years ago because I thought the blockchain, but they can't do anything with that either.You don't wanna hear anything where blockchain. So I thought, oh, IBM's going to be a blockchain play and remember worth popping up. And I was like, oh, this could be. Now cause they dropped the ball on that too. So very, very, very disappointing stock to own for the long haul. Um, it seems like they always somehow disappointed shareholders.Yes. You get a nice little 4.8% dividend. And that worked very well in a non-inflationary environment, but an inflationary environment with growth only coming from basically red hat. Do I want to own IBM? No, I don't. It's going to pop back. I mean, 1 20, 1 40, you know, is it their trades in here? Sure. Is this going to my long-term best portfolio?No, they just can't fit. Uh, you're coming up to an area, a potential area of support. You just skim it along the bottom of the daily chart. You have 1, 2, 3 lows in the same area. So if you're looking just for a shorter term, target those three lows, and they're really, they're really hock in 1 33, 1 32 78, 32 94, 33 47.That's a, you know, three, four. See if you get a bounce off that area, if not you're next support. Ooh boy, that doesn't count on the monthly's that doesn't look good down. Dennis mentioned what? 1876. That was your March to March, 2021. Okay, well, let's take a sayings here. Earnings per share. Miss they lost 48 cents per share last quarter versus an estimate of a 21 cent loss sales badly 857 million versus $1.29 billion on the estimate.Uh, so miss on the top and the bottom line for LVS, uh, what else do we have here? Uh, revenues. You can't compare year over year, guys. It's not do that. We don't care about your, of your comparisons because last year was a mess. Um, what else do I see here? Uh, the positive EBITDA, Denita, their markets, but that's not enough.So, um, you know what, though, if you believe in the reopening trade, you'll probably find. So, if you believe in the great reopening, you know, we know we had a pause and the reopening, but if we think that we are starting to get past this, we've got some, you know, therapies that deal with this people aren't as scared to do things.I think when Las Vegas sands have come down enough where I'd rather own these in the airlines, actually I'll say that to you. I'd probably even ruin these rather than the cruise lines. So I don't mind it here if you're buying this dip today and I have Las Vegas sands, I think I still do. I think I still remember.I sold half. I got to look at that portfolio. I think I still have half of my Las Vegas. And so I am, I guess, talking about book, I sold half it up at 44 when we had that run in August and I was like, oh, I got, I bought it at 52, just terrible, because I thought the great reopening was going to happen.Terrible buy came all the way back down, and then it got back up and I got half of it back. And I was like, you know, I sold. I might rebuy the other half, but the third area is an area of interest you're trading in the mid 38. Yeah, man. There's just so much competition out there for this. I don't know, but people are going back in and this isn't fake.Maybe I should go when instead, right. Spencer, if I really want exposure to like Vegas, because Las Vegas sands isn't really Vegas anymore or MGM or MGM, but MGM is a different animal that stock has just not got a dip. I mean, you're buying like MGM, it like basically all time highs. Why so different question to chat even to the chat?Why is MGM been such an outperformer over win in Las Vegas sands? I don't follow it closely enough, but there's obviously gotta be some fundamental stuff in there. Why MGM is just best of breed. Anybody know no MTM like look at the long-term short MGM. Joel. We are not far off. If we, we may even be at all time highs, you've got to go back re five-year.Go back further. Well, higher than that pack of 2013. Well, MGM didn't lose their figurehead CEO and winded. No, I think we're close to all time highs on. No, no, no, no, no, no, no. Here you go. Oh, wait. Oh seven. Oh, nice. The financial crisis. We forgot about the financial crisis where stocks never come back for $95 a share.So get back to the financial crisis. You go far enough back. If you're not a tech stock, there's a high likelihood. I don't know. I don't end the chats on this too. I don't know how much it China or Macau exposure that MGM has. I think they, maybe that's what it is. Yeah. That, that, that, that could be it. That they're benefiting from the chaos over there.Regulatory. I think, I think at this point in time, maybe it's when maybe it's Penn too, because he gets the Barstool sports pen pull back yesterday. Although ugly little double top from last two days. Uh, I kind of wanted some exposure here cause I still think the reopening trade, like, you know, you know, I've been kind of know hinting around like, you know, should I buy the airline ship buys these cruise lines that keep going down every day.Um, but if you think the reopening trade is eventually coming back and I think it is like, I think people eventually gonna go out and do stuff either. Eventually I think people are, I think they are too. I think they got spooked. I think the whole reopening trade got put on pause three or four months ago, you know, because we had the Delta surge and then all of a sudden, you know, we're lucky in and we're seeing cases spread.My buddy. Remember in the summer he was supposed to go to Disney, canceled the trip because to see the cases in Florida, I think that we're starting to get, you know, hopefully, maybe past, eventually I believe we're going to get past this, the God of hope we're going to get past this COVID thing. And we get back to some businesses usual and your people are going to want to go out and do physical things.We know restaurants have been suffering. I don't know. I kind of want some exposure to the casino. All right. Well, there's $38 area, maybe a, your lucky charm. Then it's a halfway back of that little rally had, so people that miss the rally off that 35 and a half low, you're getting a relook at it. You got a daily low there too at a 38 20.So there, see, see if 38 holds maybe get a little bounce today, only down a buck or seven. If you're trying to sneak out, uh, you know, on, uh, the low of the range from yesterday, that's 39 and a quarter. Okay. A lot more things to discuss, but even though there's no room on our. On the right hand side topics, but we got a lot more particularly, uh, yeah.Well, let's go to Crocs. It is your big, one of your big movers of the morning. It's my 1, 2, 3 fourth biggest gainer this morning on my filters tool and think of Crow, uh, earnings per share for cracked out this morning. This is for Q3 $2 and 47 cents versus a dollar 82 sales of 6 25 or six, $10 million.They're biding sales growth for this year of 62 to 65%. They're guiding sales growth all the next year of 20% compared to this year. So I don't know still who. It's about who's buying these I, because I've had the same pair for 15 years and I will continue to have that same pair of slippers. Um, but people are buying Crocs apparently.So it's gotta be one of the greatest, um, one of the greatest, like it's companies here, like holes with shoes, you know, shoes with holes in them. And I mean, it's just been unbelievable, uh, that the move that this thing has to sustain, you always think you keep thinking, okay, this is that, you know, back in, you know, obviously beginning of 2020, it was $40 and it fell, everything got destroyed.Uh, back in March, 2020 got down to $8 hundred and $52. Now from eight, you're talking about a stock that is up 2000% in a matter of a year and a half. So I don't mean one of the greatest moves. I think it's, I've seen the stock in a long time, 2000. At the stock is up in the last 16 or 18 months. That's incredible.Should it have been at eight? Obviously not. Should it be at 152? I don't know anymore. I mean, this company just blows it away every single time. Whenever you count them out, they come back again. You made a great point in the pre pre-market show. It's like, I don't totally get it because I have a pair of Crocs.I've had them for like seven years and they're good. You've said what? You've had your Crocs, like how long expensive. I had my crux, my crux livers since high school, you know, I, I basically, I basically wear them in the winter to like, you know, take the trash out and things like that. Um, and they're, they're going to last for the rest of my life.I think I know, like you think about like the planned obsolescence, where are you? You know, you have like, you know, a TV and it's got a break every seven years. They could sell you another TV. Crocs doesn't seem to do that. These shoes just don't wear out and they don't break. I mean, I bought my daughter a pair of shoes.I should say my wife because I don't shop. My wife bought my daughter a pair of shoes just off Amazon. They were nice looking shoes. The soles were out in four months. I mean, these Crocs don't wear out. They're fantastic shoes. I don't get, like, if everybody wants, everybody's got a pair, they don't need any more.Cause they don't wear out, but they keep selling them. let's go to the Crocs Crocs. That's a cool idea. I didn't know that steel toe Crocs. I buy steel toe crux. I, well, let's go into the Crocs website here. This is this a big, I mean, a lot of people are getting their money back on this one, right? Because you had, you got near 1 65, went down to 1 25.I think. Boy, if you're not really going to register, then you got some targets. I would say one 50. This 1 53 area is interesting to me. Because there, there are two hides in that area, two daily highs from the 28th and 29th. And then you move up to 1 57 20. I keep an eye on that. Pre-market high. And of course, if you're trying to Jordan to blessed you that pre-market, I, it just keeps on going, but, uh, don't that seller, we just under 1 54, that 1 53 areas to sticking out to me, pair pair of daily highs before it really took a, took a dump.All right. We're on crocs.com. I'm just looking curious what, like what they sell besides like the, the Crocs that we all know. Right. So they got slides, they got sandals, sneakers, boots, socks. I don't know, apparently they're doing, they're doing it right. Or they're doing it to work in all right. Whatever they're doing, they are doing it right.They continue to do it. Right. Just incredible story here. So, okay. Let's move on. It sort of takes a breath away a little bit. Ah, okay. I want to move away from the earnings for a second. What we'll we'll get back. Cause there are more of them, but I want to talk DD here. Cause DD is trading higher because something the IDI, uh, the Chinese internet regulators suggested that D D actually it's not just DB.It's DD and it's take her BZ and it's take her. Y M M. Those are all, um, sort of in the cross areas here. Good news coming from China. Yes. Yes. China's internet regulator suggested that those three companies, again, DD BZ and YMM that they do an IPO.And that would appear to that. Apparently I think anything, frankly, I think anything that suggests that they are going to be taken like that the governments have taken them off their radar or that the, the investigation is like wrapping up anything that suggests that's happening is probably good news.And that's what this suggests to me that they're like their investigation is, you know, wrapping up. Yeah. I mean, this dog has went from 16 down to eight because basically a lot to do with obviously Chinese government. So, I mean, this is good news, I guess. Um, it's had a nice space consolidate nicely. I think above eight, 15, the bowls are now starting to get into control.You're breaking the down trend here. Um, above 10 gets a lot more interesting. Um, you know, do you want to be early? Do you think it's going to 10? I, I don't know. I, I still have trouble because I don't know what the next headline that's coming over there. Nice little. Yeah. Nice little pop. I mean, if you're looking for a lot more follow through to the upside, uh, this, this pre-market high, which out comes in at 9 23, that lines up really well with two daily highs at nine 19 and nine 20.So there's a potential target after that, it opens up to 9 54. So when you get that, when you get the pre-market highs, coinciding with a couple of daily highs, it's a little bit more significance to it. I don't know why they would say why would they would send them over there, but, or get the listing over there.But if it's a sign they're lightening up a little bit, then that's a good sign for the, for these stocks question. Um, or not a question. Should we go to the PayPal because everybody's talking about yes, I, while I was going to get there, actually, uh, so Joel and I discussed this yesterday. I know we didn't join.I didn't, but Mitch and I did, it's not every day that you get a mid day. M and a rumor involving two big companies that everyone's heard of. And that's we got yesterday, PayPal reportedly having conversations, according to Bloomberg with Pinterest, theoretically at a price of $70 per share or more, we don't really know.That's just what the one report PayPal to buy. Pinterest, maybe kind of, sort of synergies here. I don't know. Well, actually, no, I do get it a little bit. It's an e-commerce play, right? That's what PayPal is, is an e-commerce play. That's what Pinterest is. It's e-commerce right. I, it makes them. Proof. I mean, bay pop and pens.Obviously people speculating that it could be over $70 at 61. Nothing happened yesterday. That's why you see it leaking today. Um, because people expecting overnight, they get excited and it was actually trading up a little bit more last night. They're like, maybe it'll get announced some more. It doesn't get announced every time, every day that goes by it doesn't get announced.Usually these things leak a little bit. If another rumor breaks, they were breaks more information. Obviously that new information is going to get priced in, but you know, as more time goes on, then you start thinking, okay, maybe this deal isn't happening, the stock off and leaks back. So it's hard to trade anything.Technically when you've got to stock up, it's potentially in play because we just don't know if there's a deal here. Yeah. I mean, the street is not, not buying the $70 price. Right. Even when the news came out yesterday, it only went to 66. So yeah, it's just a rumor trade to the price. Yeah, I like that. It said, you know, you could come easy, you know, if this thing falls apart, can easily come back down to the 55 area.And then, you know, people that were banking on a deal yesterday. You know that in earlier, whatever 62 68 is the close big bump up in volume. I'd look at that as resistance and just keep your eye on the tape. See if a deal comes through, PayPal got head off this and I want to repeat what rightfully so if they're going to pay a huge premium for Pinterest, which is already trading, like not a cheap valuation, I want to read Ed's comment.And then Chad PayPal was desperate after affirm showed up. It's a hail Mary go, you got square by an Afterpay, right? And you have PayPal like going after Pinterest. Um, Y Y and Kramer, I think made this point too. Why are you not going enter something in the pure payments space? Like I, and I think Kramer said affirmed, or somebody said affirmed, which, you know, I don't know.Maybe they don't want to pay that valuation either. And it's really run the stock, but I don't get the Pinterest. I don't get it. Why going after that?That's a way, but anyway, PayPal were treated down as, as acquirers often do. Yeah, they do. So. So if, if that's, what, if they were trying to choose their stock, that's had the opposite effect. I don't know a nice segue into, you know, another merger, which a small one we had today. RJ F T S C. So we've got, RJF trading down $4 and they were acquiring price, capital TSC cash, and stock six bucks.Do you have it in front of you? Okay. Yep. RJF is going to buy TSC $6 a share in cash plus 0.25, Raymond James shares. Yeah. So when you get the pure cash plays, rarely do the acquirers. They don't have to trade down as much, but you got to understand the arbitrage effects. Obviously, you know, on Saturday we talked about risk arbitrage.Um, I'm I actually was trying to be one of the first people trading this right. First I couldn't. I was trying to get to yet. 'cause he can see, okay. It was 31 or JS, you know, basically not move, but there wasn't much market in RJ either last night. So it's like, you don't really have the hedge cause there was no beds in it.So, but you know, you're looking at last night, train 27, 28. I'm like, wow, if they're not going to bring it up to at least 29 or 30, you know, you're going to hit RJF because the Arabs will make it up there. So basically what has to happen is it needs to trade up to that valuation discounting for rest of the deal doesn't go through, which is super small on a case like this, because you know, it's a small deal.And then, you know, the time value of money, which is a little higher than it was maybe last year, but still pretty insignificant. So you not naturally think okay to trade like 30, if our Jeff's going to go flat, TSC should probably trade 30. But now what they're doing is they're bringing down the RJF place.So at this, because you see 31 don't think of trades 31 because RJF comes down. So for every $4 that are GF falls, obviously TSC. If you gave me that 0.2, five is going to fall. So if you're looking at it right now, that kind of makes sense. So we're 29 and a half where it's trading right now, kind of makes sense.You think 31 50 cent discount. Cause right now that cash deal would be 30. Cause our Jeff's down $4. So I was trying to short or JF last night on that merger. Um, I got an odd lot. That was it. Um, obviously, you know, it's come down after it would have been nice to get some more shares, but there was just nothing there.And I wasn't going to hit it down $4 because I'm giving up all the edge, which obviously people are doing now. Um, TSC. At 28 last night was a deal it's 29 and a half. Now it's kind of back in line to where it should be, I would say, but it was slow to respond. There was definitely an opportunity for risk Arabs out there last night.Just if they were just taking the guts to just go along the TSC Santa, probably not knock in 10 bucks off the price of RJF couple of strange candles over the last month. And this one look at this one and the 27th, he had a big bolt. And then the deal was announced after the close, right? Or was it obviously it's like five o'clock yesterday.There must have been, it must, someone must have been reading about I'm. I get the memo on TSC. Nice candle yesterday. If you do look at yesterday's candle, we're looking if you're looking at the charts, Joel is looking in the top right hand corner right here. Yeah, that's a nice candle. I don't know if somebody's got the memoir that banks were having an okay day yesterday.So maybe it's coincidence, but. W w we'll just leave it at that. Okay. Uh, I want to talk Roku here for a second. Uh, a new twist on, on a headline that's that's that has been out there. So if you, if you've been following story, you know, the Roku and, and Google have been, uh, at odds with each other, trying to strike a deal to continue having Google's apps and such on the Roku platform.Uh, thus far it's really hinged on a YouTube TV. Now, apparently Roku, Roku sent out a statement last night to their, their customer is basically saying like YouTube TV, as well as YouTube. Like the actual Youfit actual YouTube app will not be on Roku. If we can't get a deal with Google, um, Roku was putting down this morning off of this because it's YouTube, I think is like the number two app in terms of hours that people spend watching things.I think it. Th the YouTube app on Roku though, the YouTube app, I think in general, I think, but I think it's behind Netflix. I believe that in terms of just hours that people spend watching it, I spent hours on YouTube. Right. So you can't find what you're looking for you to find on YouTube. Right? Exactly.So it's hard. If you're Roku, it's hard to be an over the top streaming service and not give your customers access to YouTube. But that's what, basically what Google is threatening here. They're basically saying like, we're not going to let you put YouTube, forget YouTube TV. Cause that's pretty small.We're not even going to let you put. I on your platform? Well, that's concerning my parents watch her show on their Roku on YouTube. Well, that's actually not good for us because we're probably have a lot of Roku, uh, people who have Roku's that are watching our show right now on YouTube, on their Roku. So I put a one in the chat.If you're watching this show via your you YouTube on Roku right now, I just want to know if you're using your Roku. You do, for sure. I'm just curious.Eduardo is doing it. Josh is doing it. Sarah's doing it. We're in trouble here. We gotta, we got Anthony's doing it. And while it's doing it, Matt's doing it. And Edinburgh is doing it and Miami's doing I don't man. We've got a lot of people watching YouTube on the road. You're watching her show good for viewership by put five points on pre-market prep.This hopper viewers they'll find a way you guys put a one. If you'll still find a way to watch us, uh, Spotify. Well, you can't watch this go to YouTube. What happened with, uh, what, what happened with Comcast by, in Roku? Remember that rumor? That was real. That was, I don't know how real that is either. Roku's had, had sent a 50 buck move off the low.So if you feel, I mean, I see great support at 3 25, 3 20, a couple of quiet days there, but a 3 25 is halfway back. And so if you like that, a couple of lows and a 3 24 area. And it's, it's trying to work on a green candle for the month. I think you may see some people trying to buy the dip on this one.That's what people are doing in the S and P 500 index futures. We are now only down six and a quarter. We've had a real nice rally. Really? Maybe they liked the jobless claims or something. Maybe they just buy the dip. Joel, always, always, but buying, it seems like this market can't stop once. Okay. Uh, we can go back to earnings then we'll do some pickup time.And the chat, um, at and T was out this morning. The EPS was very good at 87 cents versus 78 cents. Or sales was also above estimates. Uh, now it looks like they reaffirmed their yes, they, they, they reaffirmed their guidance and said they expect that their previous to giving guidance and expect to be at the high end of that rain.So they had previously gave him, going to give you the two resistance points here. Verizon 54 should be massive resistance. It's almost came all the way back from where it broke down from. We always say old support becomes new resistance. I don't see why it won't. 18 T is 27 bucks gets anywhere near 27, a bag holder central that a lot of people were trying to buy that bottom.And then it broke down so quickly there. So I think people will be wanting to get their money back up at 27. I think there's people in. That look at the 7.93% dividend, and think it's still a 7.9% dividend because it has it's. If you look at most of your platforms, it's still showing a 7.93% dividend.It's not anymore because now it's been cut in half. So they haven't adjusted that on a lot of platforms because I have multiple people saying, how can you go wrong with a 7% dividend at and T I go to them while you got to do some more homework, because it's no longer a 7.9, 3% dividend anymore. It has been cut.So that was the last payment on the last board right now, the dividend, I believe it's half Spencer. Is it halved? I believe so. Yeah. Yeah. You got to cut that in half and it's like only a 4% of that. For those of you, Jerry, about such things. HBO, max subscribers grew by 12 and a half million, uh, to about 69.5 million total, uh, HBO, max subscribers.Um, compare that to Netflix, which, uh, gained 4 million, four and a half. Uh, last quarter and is at hundreds of millions subscribers. Uh, but HBO, max is, I mean, they're slowly but steady chipping away and just taking time though, but they're growing, they're growing at a faster rate because. Yeah, Dennis gave you that the 27 level.I'm just looking ahead of that level. You got to pop to 26 43. If in fact you can get to that. Um, I had of that 27 where their papers probably stacked up. You do have a daily high in 26, 77. So had a good day yesterday off the Verizon numbers. And that was coming off another good day. So we'll see if we find some profit takers.If you want to try and buy it on a gap, fill here the top of yesterday's range. You could probably do that 26 0 9. That's a not too far away. I think there is one more quarter. It hasn't been cut yet. So there was one more quarter, I believe, of the full dividend on at and T. So people can argue and say, yeah, it's still an 8% dividend, but we know they've fully announced that they're going to cut it in approximately half.They haven't maybe announced the date that that's actually going to happen. Um, so you can't look at it. They can combine on an 8% dividend going forward. You get one more time. You know, it's but it's, it's going down to four, at least that's what the company said, unless they changed their mind. And me see something interesting is we had two airline earnings this morning and they're going in opposite directions, American and Southwest, at least I that last I checked, um, think American, yes, slightly pissed in the trade.Those airlines always. And I'll tell you something, unless it's a really crazy quarter of bad news, specific to one airline. When you see airlines go different directions. And I might jumping in there for 1%, I'm not sure, but you know, you see them go different directions on earnings reports. You look at them three days later and they often come back in.So that's just the payers trading. Um, you see a L op Al you be down a lot of times, you'll see them go. Cause put those two charts on top of. You know, they looked very similar. So, you know, this is stuff that I like to Adele take and put them in their URL. All these stocks are so traded against each other by professional traders that you do eventually just usually see them come in.Nothing works a hundred percent of the time, but a lot of times these things just track each other very closely. Same thing with the oil stocks, which one, all the stock and hammer the other oil stock going up on an earnings report. You look at them like a week later, and a lot of times they've come back in quite, this is a five day chart of Southwest and American.I'm going to a daily. Yeah. So there is a difference and we know Luvs beta's lower. So when you're looking at our UV, a UAF L two, an AAL comparison might be a better comparison because Al UV has always done hedging. You know, they've always done a lot of other things, you know, they're aggressive hedgers when it comes to oil pricing.So you get them up there though, and you can see that there's no throw them all up there. You can see there's general, you know, there's a definite strong correlation between all of those stocks. It's put Delta up there to Dal of all up. Let's load them up in the pro, but like, okay, you got American, which has a higher beta than all of the rest of them.And then you've got the other three that are like virtually 35, 30, 4, 34 identical virtually. And the charts are virtually identical. So you can see the difference. And there was like, obviously American airlines, a little bit crazier stock, but you can see it's still trending and kind of holding. It had kind of had its big move back at may and then just never came all the way.Um, actually there and knowing that there's a relationship, uh, what do we got for yesterday? I'll just, you know, if you're looking to buy that, the L U V yesterday's low was 48, 86, uh, another low at 49, 21. So you look like you do have someone just cut it nibbling at the $49 area coming back on the upside, just kiss 50 yesterday, 49 97 was the high, um, for a L boom, we're talking here.That's been under declarant. That's trading up. Are we through, I keep an eye on the two day high here. If you're looking for a target on the upside 1994. And after that opens up a little bit into the $20 handle, but the sayings have backed off real quiet on the monthly chart to the AAL. Look at the bottom, right?Been at trade the range for the last four months at Rainsboro basically 18 to 22. You're kind of in the middle. All right. Let's do some, take your time from the chat, someone through it to go out there that we haven't discussed probably in three or four years. And the reason we don't talk about it is because he doesn't trade that actively in the U S it does trade in the us, but it's not active.It doesn't trade on any exchanges, but Nintendo, Nintendo guys, and give it to you. It's N T D O Y N T D O. We talked about this. We talked about this with both Mungo. Was it. You guys, right. You can see that run-up in 20 17, 20. He had the Pokemon go. So let's the news. Is there a new sentencing? It looks like dad in a water.Uh, oh, gaming stocks have not done. Well, we know, except, you know, take two is bounced back a lot, but the gaming stocks haven't done well in the last six months, really? I mean, EA is gone basically nowhere. We know the Zynga has been hit. We know all online. It's got again, Activision blizzards. They're starting to show a little bit of life though.There's a Tendo spin in the gutter. I don't know. I could get, again, I don't like buying five symbols because they're not an actively traded over here, but in your long-term portfolio, could I get down and dirty at 54, 55 bucks on Nintendo? But I get talked into it. I could, I could get talked into it needs a catalyst.And I mean, sitting on just some monthly lows here that come on back to, uh, earlier in the year, I know that was in 2020. You had a low at 55. I don't know. It just seems like real quiet. Yeah. I mean, you're shortening it a whole lot. I don't know where it's going. I just doesn't look like it's going anywhere.Mark Zuckerberg, like so many better. We haven't, we never look at Sony ever that one does trade on the U S we never talked about, I know we never talk about it. I don't know. It's kind of the same, I guess. Right. Um, okay. Um, reminder, Dennis, uh, your favorite company, we work is trading today as we work, not as the specs, w E.Like the stock Dewey. I don't know. It's lifting up here at 10 38, the clothes do SPECT now. And obviously train up at 1155 here, getting a good left. LA I don't know, man. Office space, office space. I mean, I heard a Yale professor talking about, well, there's going to be a lot of subleasing and everything, but I don't know.You hit 12 in the pre-market. So there's a potential target after that. We'll see how this trades we work. Boy, what a story that was, yeah. All right. Matt Miller dropped us a stupor chat and asked us about BBI. G I feel like in the name of the super chat, we should at least bring it up on the screen. We talked about that Miller, Matt Miller.I would say this. If you missed it yesterday, we had a Ted Farnsworth on the power hour at 1215. I'll drop the link in the chat. We talked to him. He, he acknowledged that they shouldn't have dropped three sec filings and then a press release 12 hours after the fact that clarified the farm, they should have dropped that press release at the same time as the filings 'cause, I'm, I'm reading the filing and I don't follow the story.And I just see it as a C, I just see the president CEO and CFO resigning. And I'm like, okay, that's the reason every algo did the same thing. Obviously it's trade down 25% algos. Don't dig into the details. They see that headline. They hit first ask questions later, algos aren't following story. So, and then people are asking me what's going on?BB ID? I'm like, well, CEO, CFO resigned. That's what's going on. I tweeted that out. Everybody gave me hate. But I tell you, and obviously my tweet came while after I was already trained down. So was it, you know, it, they should have released it in a better way. Maybe the algos wouldn't have hammered it like that.Does that mean I'm coming in and buying and stock here? I'm not going to give my opinion on the stock I've given up before, you know what it is. I'm not a fan, but, um, I don't, I don't know, you know, I don't follow the company close enough. I'm just not a fan of these stocks that are really pumped on social media trading range from five to nine.You're kind of you're coming near the vibe of the trading range, three loads in that five area, that couple highs in the nine area going wide on that. Okay. Here's one we haven't looked at. I haven't looked at for a minute. Here it is. It's ticker. AI. Is that still making new lows every day or is it stopped going down?Stop going down. And I will say some of these loved growth tech darlings of the last, you know, of the at least, you know, the first half of the year, you know, that have been absolutely hammered in the last three or four months. A lot of them have stopped going down at some of them have started to turn. I mean, Kathy would, ETF has come back down up substantially guys run for Kathy.Those charts don't look that bad to me, either the arc that they want to come back from the lows. I mean, it maybe got oversold, obviously got oversold. We've been buying the dip on everything and people are hungry for growth. So those stocks are getting bought. So I don't know, you know, which one's kind of interesting to me is the Cathy wood and I'm not following the company closely, but the BLI is kind of interesting too, right?Because we know Kathy's been buying that stock relentlessly, and we know it was attacked by who, whoever it was. One of the short companies attack. Remember they issued the report and the thing really got hammered on it. Uh, but you know what? It's, it's had a run and you're in four days of consolidation, I think it actually could be consolidation to move higher here too.So if I was putting this trade on, I don't have it on right now. If I was putting it on, I'd stop myself out under the 2365 low and I'd have a target of about 30. So you set that up at 25, 6 2 to one, two to one risk reward. I liked three to one, a little bit better, but two to one is not bad. Again. See how I enter on my approach to swing trading.As first I look at my. And then I look at, okay, well, if I'm risking this, how much do you know is the move here? Do I like this setup? I kind of do. I like the four days of consolidation, a lot of times, which is the happen stock has a big countermove then consolidation and then eventually continuation of the previous move.And that's what I'm saying could happen in BLI it's a, Cathy would love to. All right. We were talking about AI and, um, 48 is the roadblock here for this stock. Uh, last two sessions, size 7, 9 47, 94, 48 0 5. You backed off there. Maybe what to get over the next couple of days is, you know, you just inch your way back up.So you get a running started 48, like now it'd be, you know, 80 cents to get up to take out 48. First, she got to get green on the session. Not much volume is traded. I could see this turning over 48 and I'm coming back on the downside. I mean, you distanced yourself from yesterday or the two day low at 46.So if you want to try and pick this up on the cheap 46, 80 was yesterday's low, but above 48, I could see the tide turning in and you're kind of running out of sellers here too. You had that first op month, second month was kind of ended, but they pounded it third month, fourth. And it's just kind of, you know, maybe you got everyone out of, you know, out there wants to be out.Now. Maybe it's turned here, but thank you, Don and Jay for the alert, um, DWC is up to 12. Now this thing is trading with a ridiculous amount of volume this morning. Every 15 minute bracket has millions of shares. No millions of shares we've traded. I dunno how many million shows this morning? We've probably traded 20 million shares this morning.Maybe it got down at 10 40, 10 50 wasdown there like 10 50, 10 40. You get down there, like, you know, tens probably going to stop it. Like ten's probably a pretty solid bottom pre deal. So people look in, okay, I'll risk. 40 50 cents looked at the up, out here. Now they're ripping it higher again. Now you're getting farther away from it at 1220, like when we're talking about a 10 60 an hour, Um, we're 45 minutes ago.It's a different story at 1225. Now you're 25% off of that hard bottom at $10. So, um, I don't know if I chased up here, it was a lot, much more attractive at 10 50, 10 60, I guess, that I was looking to buy in the low tens. I was maybe a little bit too greedy. It wasn't going to get that low. Um, from 25 million shares traded.Soall that a lot. I mean, if you're looking for a little target here on, you know, I think what you now, you just have short term algorithm trading it for the body at 10 70, 10, 80 12, you know, salad into 12 handle. Rebuy it again at if it makes a higher, low, but 13. Maybe it's a target. So we'll see a DWC. Oh my goodness.That's all right, guys, why don't you give us your final thoughts? I've got Peter him lurking in the background here. So give us your final thoughts as we, uh, wrap up the. Uh, just for me, let's go green on the session, right? We're down 8 75 old time closing high yesterday, 28 that coincides with, uh, the pre-market high and just a little bit of a rally here, but like to see us go greet on the session.Pre-market low 10 of the quarter. Not much down there. Oh four was, yesterday's a lot of rotation again. I mean, I'm seeing some stocks screen, some stocks red. It's going to be the type of market where some stocks are getting hammered and other stocks are getting bought. We know some of the tech stocks have been loved.Um, it's been an impressive move for the indices. I mean, we've had a lot of move. It's overextended. Now as a problem, I look at this S and P move. We're up like 5%. Seven trading sessions. So it's tough to think. Okay. Where's the next 5%. I think you need a dip. Now, if you're coming in and buying stocks now, I think you're late to the party.I think you want to wait for the next step. I do still think we're hitting all time highs by the end of the year. We're not even at this time of bull, but when Spencer was calling it, the bandwagon, we were a lot lower. It's still buy the dip mentality is still out there. So you've got to use the opportunities.There's a one point dip on spot dip. I don't know. Maybe it is now, but this market just is so strong. All right guys, have a go on. I'll catch you later. Uh, let's put on a Peter talk to me. It was, um, for the sec nub, the first time on this show, he is, he is been stuck in traffic. So he actually pulled over and hopped on a wifi.To join us from his car. Peter. Good morning, sir. What's up? Benzinga nation. How you doing Spencer? You look great kid. Yeah, I'm feeling good. I I'll be back in the office on Monday and feeling, feeling solid. Going back to myself. Uh, how you doing? It's been a couple of weeks since we spoken. Uh, you know what I've been, I've been okay.I am trying to just navigate through, you know, life is kind of crazy now you've experienced COVID. So I've been living with it for two years. It's quite a challenge, you know, I hope you don't end up suffering from long COVID stuff, but you know what, it just kind of puts everything in perspective. And, you know, as the world tries to reopen and, and you know, there's, everybody is sort of, I cannot presume what people are going through to get back to work thing, having been sick and all this other stuff.So all we can do is fight a day at a time. Spencer, the market is surely giving us enough of an exciting landscape to get up every morning and talk about right. So let's talk about that. Things got a little bit shoppy there for a couple of weeks, but it looks like, as we just said by the dip seems to, it seems to always work it's cliche, but it's cliche for a reason.So what is your take here? It looks like we've, we've come out of that volatility. You know what look where it's fascinating to watch. I love sort of having that wonderful paradox about what the market's doing, the information that's out there and then what the media loves to play on and how we've often talked about it.One day does not make a market, right. We've seen the, you know, historically the market just goes up. That's what it's done for a hundred years. And obviously we've seen some pullbacks, but if you analyze pullbacks, right, you've got to realize that we've not seen a follow through on the pullback for quite a long time.You know, there have been so many potential obstacles for this market, the volatility, the virus, the vaccine inflation, the federal reserve, tapering, the China story.Sorry I'm here. Um, uh, you know, so many things that could've dislocated this bull rally, right? I mean, they're just as a plethora of things that could have really, uh, flourished or blossom into a really dark story. Even though the few of them only did affect the market. It was different short term and there was never any follow-through.So, you know, um, the market is strong, like a bull. It's unbelievable. You know, and then it'll bring me to another fun story, but look, you know, we've, we did see some choppy waters for a couple of weeks and it was sort of one story, two stories. We never got that perfect storm day where it was just like, everything looks really dark.Maybe we did for a day. But as I keep saying that there was no follow-through, there was a bid in the market. And I know Dennis was just saying, you know, is a, is, is a one point move down in the spy, a depth, you know, at this point it almost is because we've just seen not enough of what you'd call a normal dip or a pullback.We've seen them small. But if you're not quick to that party, you missed it. We've seen those days where we're down a little bit and boom, you know, by 10 30, the market's reversing going up. And I know it wasn't even like this time, you had time though, this time you did have time. If you wanted to buy the dip, the question was the, the dips were being bought, but then the reps were being sold.So it's like, it seems like. It seems like we've mostly come out of that. You know what, it's interesting to note, as I was saying, the media is fascinating. You know, they'll love to get on a dark story and they'll just pump it and pump it and pump it, you know? And um, so people really need to have conviction, right?Look, it's, you know, when everyone is, eh, you know, you, you need to have a conviction that the market net net is going to go higher, that we are going to recover from the, the viruses that the economy is going to come out of. This, that tapering is not really going to dislocate a bull market, right. That inflation is here to stay.We will adapt to it as markets always do. And you need to have a conviction that the is going to go higher. And that's what. You've got to say, okay, get your shopping list together when things do consolidate when they do pull back and, and, and, uh, and by, you know, that's from an investing point of view, we know, you know, we always talk about with wall street, global training academy, the technicals, the price action has been fascinating.Right. And we always talk about the. Trade coming into earning season, right? Buying an anticipation of a projected earnings and guidance is dangerous. Look what happened with Netflix, right? They beat and the stocks traded up 50 bucks and down 50 bucks. And then the next day was down $6. So it's really important that these trades are crowded.Everybody's in there. There's a, there's a new, and this is I'm going to segue into this story. But I think it's time. We really acknowledged that there's this massive new influx of retail traders in the marketplace. I'm hoping they will become your customers. And I hope they'll all, they, you know, that they, they follow me too.But the bottom line is we can't raise, you know, whether it's the wall street, bets guys, the wall street, meme, skies, whoever they may be. Um, there is this generation phenomenon and movement of new people in this market and they are moving the market. We saw that happen with the meme stock phenomenon way back, and we are seeing them in the market.The retail marketplace is extraordinary and full of new young traders. The problem being a lot of them don't have the education, the technicals and the fundamentals to trade this thing responsibly, but they're here, they're here. We're seeing it in this wild volatility of the ups Ts or the miRNAs, you know, or the meme stocks or whatever.We are seeing this wild move on the up and down. So my new message is, you know what it's like, if you can't fight them, join them type of a thing. I think we need to, you know, you better fight this. There was an old cigarette commercial back in the seventies, you better fight this ride. Rather fight than switch.At this point, I would rather embrace than fight it any longer, at least embrace this new community. And they will become the next generation of traders down the road. But I think it's our job, yours and mine. To share with them, our experience in the market, whatever education we can give them, you know, and, and go from there.Yeah. And without trying to sound all holier than now, it is my genuine hope that them, the people that are, that have traded have been trading for the last year and a half or so, um, that they actually convert to become more investors, because that's what I believe in, uh, you know, like to my core, I believe that the long-term investing is the best and also easiest way for like the regular Schmo to, to make, to make money, to, to, to generate wealth long-term.And, um, unfortunately it just, it just takes time, uh, is the only downside there, but, but, uh, Uh, that's my genuine belief. So Peter, speaking of earning season here, I guess, what is your, what are your initial impressions where we're really going to get like the heavy flow next week with all the big tech guys, but we got Tesla, we got Netflix, we got Snapchat tonight.So just by and large, what do you make? Not so much of the numbers or maybe the numbers, but just the reaction to the earnings. You know what look, I mean, I know I just happened to just glaze by the number 86% of the S and P stocks that have reported have beat extraordinary, but we've seen that for a couple of earning seasons.Now, as I often will talk about, you know, the, you know, they, they sort of curate the expectations of the numbers. So as not to disappoint, especially in, in a market and an economy, that's kind of potentially fragile, even though it keeps marching higher. You know, we are still in the midst of a situation where people are wearing masks.A lot of people don't want to go back to work. And so there is that sketchiness of are we really recovering air things, getting back to normal? How are these companies really doing the retail space, the bank space and whatnot, you know, the world is starting to reopen people are, you know, and then we are up against the inflation story.Is that going to be reflected in, um, uh, in this earning season? I don't think so. So, you know, it's a matter of, we, I think you need to look at the big. Of the picture right now, we're reacting to the earnings that are coming out as to a sort of a Slingshot of this reopening story. And we're seeing that reflected in these solid solid numbers, uh, to isolate one or the other.As I said, though, I need people to really take heed that we're seeing companies really. Blowout earnings yet the stocks go down and that is a function of a very crowded trade. That is a function of a lot of people without really knowledge of how to trade these things going forward, that maybe they were lucky enough to get long and they're just blowing it out or they're hitting, hitting buttons that without sort of a lot of, uh, of, uh, of experience or just a very crowded trade, there's a lot of options stuff going on there.People trading, you know, that is one of the safest ways to trade a pre earnings release game without getting yourself blown out is to trade it on the option side. Right? So, uh, and then you're seeing whatever happens in equities around that. I think we got to touch on the fact that this crypto market is out of control.I think that's incredibly exciting and it's been something I've resisted to get involved in. I don't get involved in it personally, but it's fascinating to watch either. Come on. There was no excuse. Now you have a futures ETF. There is no excuse. Well, I now have my own ETF, my own NFT coming up. Look, the bid, the Beto ETF is extraordinary.I really think that puts a whole added, like a legitimacy to this thing. It is being traded on the floor of the New York stock exchange. I posted the other yesterday two days ago, I posted a picture of the signage on the floor of the stock exchange a bit. Oh, the new Bitcoin ETF. And it got 6,000 views.Well, I didn't talk about it. I didn't do anything. All it was was just the signage on the floor. So obviously everyone's super excited. It does give it some crazy legitimacy. Yeah. I'm pulling up the stat right now, but I'm pretty sure. Um, It's already over a billion dollars in assets. And it's been two days.It's been two days. This thing is taken in a billion dollars. It's absolute madness. That's that's a record in case you're wondering the GLD. Uh, what, why is the record holder? But it's, I mean, there's so much demand. Um, oh fuck it. Do want to get exposure to the, to the crypto space and you can't afford 66 hours for some Bitcoin $41 is a reasonable number to get involved and get exposure to it.That is the wonders of the ETF market. Right. And they've been trading now for two days. Volumes been what? 20 million plus every day is now what the volume daily volume is. Yeah. Yeah. Here I'll look it up. Actually. It's wild. Wow. Let's say a volume on day one was 24 or call it 24 and a half million volume on day two called we'll round up 30 million.That's insane. Yeah. Extraordinary is a great word. It's what it is. And it just shows that there is clearly a ton of demand out there. So Peter telecommute is the Einstein of wall street. Joining us live from his car somewhere in downtown Manhattan, the links to his, uh, his Twitter, his trading academy, or in the description of this video.Uh, Peter always applied to. Great Spencer, can I get one quick shout out to, um, so everybody should check this out. It's going to be launching in the next 48 hours. Uh, it's part of the wall street memes, uh, community. And that is in the hundreds of thousands. They Iran launching 10,000 NFTs. I want everyone to get on board this thing and check it out.10,000 NFTs called the bulls of wall street. Go to the wall street memes page. It's already a pre-sale. There may be a few books. But it's going to be super, super fun. There's going to be some celebrity bulls in there. It's kind of like a Pokemon thing. These are these generative NFTs that are going to be all wall street balls.Each one will be different. There's going to be a, a, a, a Nancy BOLO seed is going to be a, um, a Jew, a Jack Dorsey bowl, and there's going to be an Einstein and wall street ball. And they're going to be 10,000 of them. They're going to be open on, back on open, see in the next couple of weeks when they actually launch out, but everyone should check it out.It's sort of a fun exposure to the space. These guys have done the homework. The protocol is, is really spectacularly done, and it may be something people have fun with. So. Well, I think until the NFT game, if you got to put them like this, you got to get into the NFD space. Spencer, you gotta, I guess, what am I doing here, Peter?Always a pleasure, sir. Have a good rest of your day. Good luck. All right. Hey, I want to hop off here. It's nine 13. We're going to do a live trading, uh, right now actually w when, when this show ends, we're going to, I'm going to redirect straight to that stream. We'll start it off in a minute or so. And we're just gonna hang out and we were going to bring on Chris catchy to talk about, uh, there's, there's going to be no spec stock today, which is kind of sad, cause it's not as bad news.So we'll bring Chris on, um, during the show coming up next to just talk about, you know, all this back stuff and, and I mean the volume this morning in, in, uh, UWC is, is pretty wild. Um, didn't see a huge volume take up at nine. I would've thought you wouldn't. Cause that's when Robin hood opens up, but saw some increase, but not as big as I would've thought.Anyway, it's traded 25, 30 million shares this morning, so wild stuff here. So, um, stay to stay with us. Well, I've trading myself is you need Ryan. Uh, Chris catcher would join us. Tony Benson would join us. We'll have fun. We're hanging out. Um, smash that like button, please. And thank you. And please remember that all the information from our show is meant to be used as informational purposes, not for investing or trading advice.Thanks to Peter. Think 70 in our chat, the chat you guys definitely did a good job of like reigning yourself. Right. Uh, I know the first few minutes were a bit touch and go. If people were just bobbing political bombs left and right. But we were able to, we moved past it together and I think we all did a good job.So, um, stay with us, live training, starting with few minutes, I'm going to hop off everyone. Good luck, uh, with your day and I'll see you on the next show.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Market RecapNetflix earnings reactionNovavax vaccine delays NVAXOptions Plays For The Earnings SeasonLink to SEC Report here 2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:CC Lagator, Co-Founder at Options AI https://www.optionsai.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 TranscriptGood morning, everybody. You know, there are some days where that you don't have that much to talk about. And there are other days where you got a lot going on today is one of those days. Cause we got there. There's.Okay. There's not earnings headlines. There's vaccine news. There there's a lot going on this morning, a lot going on. We're going to try to cover as much of it as we can. CC Labrador from options. AI is our guest today at 8 45. We're going to talk options ideas into an after earnings report. Seeing as how we're in earning season.So we'll talk Netflix, we'll talk restaurant stocks, we'll talk. Novavax we'll talk. United airlines will try to take questions from our chat at the end of the show, but it is going to be a busy, busy, busy morning. So queue us all a favor. Now hit that like button please. So we don't even gotta worry about that.I'm going to ask you again and, um, and, uh, let's get Joel on here. And Joel, uh, how are you doing this morning? Cause, cause we got, we got a lot going on here. We're in a fast market, fast as fast, fast I'm D I'm doing pretty good. Uh, S and P futures are doing okay. Uh, we're only down three sticks at 45 0 8 and a quarter.You have crude back in off that all time high, that double top at 83, but I didn't call it a double top down 83 cents at 81 61, a gold. Back working its way towards 1800 up 13, 60 it's, 17 84 50 silver back over 24 that's 18.70 cents at 24 0 7 Bitcoin just hanging out near all time highs, but it's down 3 28, 60 4,340 a theory of futures.They're going the opposite way. They're up $54 and 25 cents at 38.96. Alright. Um, Hey, speaking of Bitcoin, um, fun fact about the Bitcoin ETF from yesterday before we get to the real stuff today, um, new ETS will always launch with some seed capital. So it could be ITO ETF from yesterday wants to with $20 million already in seed capital and end of the day with $570 million.It's okay. $515 million on inflows yesterday. Just an insane first day. Anyhow, no kid is. You're telling me there's some demand for our product like this. Yeah. That's just a bad, bad. Just a little bit anyway. Okay. Let's talk now we'll start with nice to have another Bitcoin vehicle to trade though. I'm actually like that.I I'm sure you do. It's going to be another one today. Did you know that one time that what's this one going to be T F D B T F D B T F D.It's likeI have to buy that, but so craziest, ticker. So while you see people all the time, we cannot say the F on a live show, but I cannot believe they use that. BT Bitcoin FD fund Bitcoin. Yeah. That's what it stands for Spencer by the F dip. That's what it stands for. I don't know what you're talking about. I get what you're saying anyway.That's awesome.Just because of that. All right. Let's talk, let's talk. Netflix here. Uh, earnings were out last night. We were doing a stream as it was going on. Um, I think the numbers were actually that bad, um, numbers weren't that bad. It was, yeah. The numbers. I think the guidance was that bad either. So I'll give you the numbers here from Netflix earnings per share, beat their sales beat.They added 4.4 million, um, on net subscribers in the quarter, which also beat they guided that they would, um, that they would add 8.5 million subscribers this quarter, which is actually identical to what they earned in Q4 last year. Um, So, again, I didn't think any of that was bad. The stock is obviously down here this morning.Um, so my, my take is number is not bad, especially when you remember one or two quarters ago, then it had a terrible, terrible miss where they missed on, on their subscribers horribly. And the stock got crushed on that. Um, we seem to have come out of that for now. Uh, the reasons to be bearish, uh, are a, the stock just came off this huge move in the last couple of months also, also they're they're, they're, they're still not really growing in the U S right.It's still most of the international growth. They're, they're really saturated. They're they're they're at capacity. It seems like in the United States right now, they're not really growing there. They've only added 88,000 subscribers in the U S and Canada this year that's that's that's peanuts for, for a company, a whole.And the U S and Canada. Yeah. And that's the other, and that, that goes also into churn right there. Their churn rate is, is, is still high, but the good news there is the churn rate is higher on their competitors. So there's that to think about, but anyway, numbers. Stock reaction good in the first minute, and then not so good after that.But, uh, all that Joel talking about that it was actually just a, a whipsaw session. They did not know what to do with that report. So it went up a little bit initially, then they hammered it. Then they took it all the way up to over six 60 and then they hammered it again. So they, it just shopped around. It was by the dip and saw the rep to see him like a dozen times in that first candle.Also, obviously you can see the wicked wicked candle before it eventually started to find its way and obviously wanting to trade down after, but it could not figure it out. It was a whip. Even me looking, I was like, I didn't even know which way to go because of this starts ripping, you know, it may take bang up with it and then it starts dip and it's like, well, I don't even know what to do here.I'm just laying off. Joel, thoughts, concerns. You gotta throw that dad high 6 62 or whatever it was. I don't want to say never cause never's a long time, but boy, 6 63 15 is where they took it up to. I mean that, that's an overshoot, uh, interesting thing to me is that the overshoot on the downside 6 22 52, and you came back down to that area, you to came back to that area this morning when you went to 6 20 81, and this is just setting up perfectly technically here.This is this technical setups. Jewel. Tell me more, tell me more six 20, just got a hold of you. Um, maybe, you know, the whole six, 20 good report. We're going back up testing all time highs the state T I don't know if this is just today or, you know, uh, you know, but look at that, you got all those lows in the area broke out that day.It's a pre-market low, you've got the daily low for a couple of days. You got to keep an eye on six 20. And that I would just go back to wall. You'll just go back to this, you know, reset, boom trading range. Here's the all time high. You got to break out above that. So there we go. Six 20. That's your number.If you lose money, when it goes to six 20 and alongside blamed Spencer in Dennis. Yeah. You lose money. It's your own fault on anything. Cause we don't give any recommendations. We only give ideas and we give opinions. You do what you want with those opinions. I'll give you the same thing. I'll say the six twenties important to hold to.Is this a stock that's absolutely loved by the street right now? Yes. Is this a stock? That's had a pretty good run here in the last few weeks. Yup. Is this a stock that's likely to get bought in the dip? So I'll give you the six 20 and you know, maybe you try it there. If it doesn't work, it doesn't work.It's a tricky market, you know, even just taking it away from Netflix, this for a second, like yesterday's action, Joel, there was like half the stocks really getting hit, like an Ulta, beauty, just getting absolutely hammered. And then you had other stocks that were just ripping relentlessly, no mercy. So, I mean, it was a very, it was a market that had a lot of separation in it and I think that continues.So if your stocks and favorite stays and it can stay in favor, obviously, but I mean, again, it's the market just kind of random, you know, the random walk a little bit and a lot of stuff. What did what happened to Alton there? Uh, I don't know, 360. I mean, I'll give you a big one though. Yeah, you're all to traders.Uh, yeah, the 3 55 to 360. Uh that's where the guidance. Okay. I said guidance out yesterday morning. Uh, they done the show. We didn't catch that. The 55 to 360 folks. That's that's the muscle area for all the big dropdown. Just, Ooh, two days we moved from an old time high. Yikes. All right. So Joel gave six twenties as your ma as your, your, your critical number on, on Netflix, Dennis concurred, um, uh, and sort of a toss up thinking about what Netflix is.This doesn't even factor in squid game, which is supposedly their biggest show ever. Uh, we'll find out more about that the next quarter. I don't know if you all care about this, but they did say that they're going to change how they report what their biggest shows are. They're not right now. They, they, they, they read the report.Number of accounts, watching that have watched a given show for two minutes. You're not going to do that anymore. Now they're going to do just total watch time, total hours watched for a given show. Anyway, um, if y'all care about no, do not bring back house of cards. It really went downhill when we lost Kevin Spacey though.Cause I felt so depressed after the Kevin Spacey issue because I loved Kevin Spacey as an actor. And now we can't see them anymore. I mean, these actors got to keep their personal lives together for the sake of all of us. Cause Kevin Spacey was an awesome. And now we're probably never see him in anything.Good again. And, um, and how's the car it's that last season Joel was absolutely terrible. It was the worst thing ever. It was the, the, one of the best series and they ended it in the worst possible way. They've scrambled around trying to produce something without Kevin Spacey, your hands were tied, their hands were tied there.Wasn't the screwed us all. Okay. All right. Let's let's move on. Okay. Good. Biggest loser of the morning right now is Novavax. Dennis was all over this last night. If you're, if you're watching him on Twitter, um, shout out to Politico. We don't follow a political much, but cause Politico doesn't really move stocks, but they're moving this stock.They had a whole. Yeah, there had a whole article out last night about the struggles that Novavax has had as it pertains to, uh, actually manufacturing their vac, their COVID vaccine candidate. Um, and it, it was, if you read the article, which I did it didn't, there wasn't really anything in there that sounded good.I, I did see that Novavax had a filing out this morning, uh, and I see filing basically just confirming. There their confidence. And they're trying to obviously fight back on the Politico article. They see the stock down 33 points. Somebody like say something. So, so basically the article was like, Hey, Madonna, Pfizer Johnson, Johnson, AstraZeneca.They've been able to not just get a vaccine developed, but also manufacture it. Novavax has not. Um, and reminder, this is, this is, it's not like we know the vaccine has a history of developing vaccines. They hadn't done that before this also, they're not doing it the same way. They're not using the MRI and a technology that like maternity is there.They're doing it like the old fashioned way, uh, which I guess involves harvesting. Um, cells from animals or something. Um, but anyway, Novavax is your biggest loser. It's down 20% in the pre-market session alone. Yeah. Just think about, you know, what Madonna has done and, you know, we've talked about the separation, you know, probably three or four months ago between Novavax and Madonna, because it got the vaccine out and you know, and they're doing so many things that no of ax can't figure it out.I mean, they were both had the same lead time, really, you know, it was Novavax when we first heard about COVID back in April or may, you know, in March we heard about it, but when we're hearing about the vaccines, it's going to be Novavax on the Dharna that we're going to come and save the day in a tech in there too.And Novavax just never got it together. So, I mean, here we are, you know, the stocks down 21%. I will tell you, Joel, the level of all levels for this doc was last night. I called it out on Twitter too. I said one 15, there was an iceberg order there, Joel, at one 15, that would not move. They were having. And hitting it and hitting it.And that third, big purple candle you can see in the top left chart, they were hammering the one 15. Somebody bought a pile of stock. There they an iceberg order for those traders who are near to an iceberg order, it's usually just shows like a hundred shares on the bed, but it's really a lot more. So you only seen the tip of the iceberg is where they get the analogy from.So it might be like 10,000 shares to buy might be 20,000 shares. Buy might be 50,000 shares to buy, but they're only showing a hundred and then it's continuously trading at that price and not going through it. And that's how, you know, it's an iceberg order. You don't know how big the iceberg is because you're only seeing the tip of it, but they hit it.They hit it, it would not move. And finally, they turned around and started bouncing and they bounce it from one 15 to 1 35 this morning came back down, retested the same exact area, that one 15 Joel, look at those lows, not quite to one thing, but right in that area. So you have major pre-market support, whether that support's going to hold in the regular session, nobody knows anything, but all we can do is take the information we have and make logical trading decisions.And I say the one fifteens assault level until that buyer's gone. Okay. Yeah, that, that buyer was looking at your may low of 1, 17, 12, and he just figured, Hey, I'll just, you know, go down to, uh, to one 15 and back up the truck. So you can use that as support, uh, the pop up to 1 35 and change. Uh, that's going to be resistance if in fact you can rally, I would just be careful again.Because they might be done or they might say, Hey, everyone, think I'm going to be at one 15. If, if in fact that takes it out and then they pull the bed, it goes one 14 and a half offer everyone's scrambling. And then they do the same thing sometimes. Yeah. Sometimes when a stock's just tank and like that though, it's, it's obviously somebody would take money to be able to buy as many shares.They did. Like, I, I, we could go back and look at the tape, but I just saw 160, 170,000 trades on that bracket 170. Well, that could have been, you know, coming in some of that volume on that bracket, but big volume. And I tell you a lot of stock trade at that one 15 level. I mean, I, I use that, you know, it's, it's good information, you know, when you can, you know, find iceberg orders on earnings reports, those sometimes turn off of them because it's just got to thank you.Basically on an earnings report, it's all wide, you know, and you don't have my regular market makers. They're all wide because there's news and they're letting it adjust. So it'd be a one big player here in one big player here. Sometimes the price will just bounce between those two big players. And if you can identify where those big players are, simply by luck reading the tape and looking at your time and sales and looking at the quote window.Um, you have an edge and last night, anybody who is buying just off that one 15 had a significant edge stocks down 1 26. I'm making 11 bucks. So, I mean, there there's opportunities and tape reading still. You just have to know what you're saying. I'm just going to say, I'm not gonna say anything tat you know, no more time nickels, but fundamentals.Okay. Uh, this company never did actually produce a vaccine. Right. I don't know if the company ever has second of all, look at the way some, these stocks that are getting treated that came home with vaccines or like, I mean, so the ones that actually have vaccine yeah. Yeah. Look at Pfizer environment for vaccine.I would just say, you know, if you're looking at this, you know, to buy the dip, I mean, I think I did something on this. This company has a history. I think this went up real high, long time ago on something, but you know, Madonna is way off. I think, I think the vaccine tray. These companies are not being rewarded.That one that was going to have one doesn't. So hands-on for me, I wouldn't buy this at a hundred. I want to buy it at 90 or 80, 70, 60, 50, 40, or 30. You're telling me, you're telling me you're not a fan, not a fan, not a fan of data. All right, well, let's move on here to the other one or the other. There's a lot moving today.The one of the other big things getting crushed today that we never talk about on this show is stocks like Brinker, right? Eat, take your restaurant stocks, which we, we talked about restaurants, what we talked about, like, you know, the high flying restaurants, you know, your shake shack, your should probably we didn't, we don't really talk to.That much, this is the owner of chiles, by the way, if you don't know, there's like Maggiano's, they own like different sit down it's casual dining. Right. Exactly. Exactly. Um, and the reason we don't talk about them is because this study is not very exciting stocks. Well, not so much this morning, uh, because Brinker had earnings, uh, was it last night?It was last night and they were at so totally brutal. Um, but let me get the numbers here for you and for us. And they weren't, I don't think they were scheduled. Were they? I, you know what, I didn't see them on a schedule. I didn't see them either. That doesn't mean they weren't supposed to. I just did. I didn't, I didn't notice it either.Um, but, uh, okay. Here's what they said. Um, BA, you know, the revenue actually managed to come in higher, but that's not the point. The point is that their other margins got crushed. Their earnings was a huge miss on the earnings, uh, on the, on the adjusted earnings per share. Um, and then you read your directly from the press release here, um, you know, first quarter delivered positive sales, blah, blah, blah, next, but the COVID surge starting in August exacerbated the industry-wide labor and commodity challenges and impacted our margins.And bottom line more than we anticipated this from the CEO. Uh, we are responding to these COVID headwinds with increased focus on hiring and retention efforts and working with our partners to gain further stabilization of the supply chain environment. Um, we have taken an immediate incremental pricing action.So that, you know, they're raising costs as you would expect. Um, but this is, this was an ugly, ugly, ugly report. Uh, and it's not unique to bring her cause really the entire restaurant industry is down this morning. Well, it is unique Eve Brinker is the catalyst. Now, every other restaurant, everybody who owns a restaurant stocks like, oh crap, you know, we didn't consider, we're getting hit.And Christian Fromm hurts. Maybe said it best on Twitter last night, they're getting hit from both sides. So we talk about, you know, inflation hedges. This is like the anti inflation hedge. If you think about it, because one, they have their food costs escalating on them on this side, and then they have their labor costs escalating.And then on this side, if they can get the. And, you know, where do you do? Like I was told this story, I think a couple months ago on the show, a friend of a, friend's got a restaurant set, chicken wings, you know, his bag. He gets by the bag. The price of the bag has doubled over what it was a year ago. And he's like, well, why can't I do, I can't double my food prices because I don't want food prices.People are going to come to my restaurant. So I got to eat it a little bit myself. So the restaurants got to eat it on the food cost increases. It can pass on a little bit, but you can't all of a sudden just double your prices and you know, you've got. Obviously labor issues where if he can even get the labor, but people want to be paid more money than inflationary environment.So restaurants getting hit from both sides here, Brinker international eat, getting hit from just the south side. Shuttle stock is down 11%. It's one of its biggest moves. This is a stock that doesn't move around a lot. It's one of his biggest moves in a long time. And you know what, it's justifiable and it's funny, you know, that the market just, you know, it's sitting there and maybe it was ahead of it because it has been leaking here for the better part of the year.But I was just gonna, I was gonna look at that, uh, look at the bottom right chart. I mean, this is a two for one stock split since, uh, since March and I in a roaring bull market. I, like I said, I never pulled the stock up, but I mean, you're heading log into that report. I mean, head and shoulders top there.You've got the head. You got the. This is, uh, I'll give you the pre-market low as potential support. Uh, 41 70 is a pre-market low. I see a monthly low. And for, you know, if in fact we take that out a monthly low at 40, 66, but this is a multi month downtrend. Doesn't look like it's going to end this month. I think best case scenario for investors is, you know, you go down, you test that $40 area in the next couple of days and you hold it and put a few lows in and then Mount a rally.But I mean the street, I mean, they've been selling the daylights out of this thing since March so tough. And now you got a whole nother level of people at 48 bucks scratching their head. You know, it's like, oh, if this ever gets back to 48, I'm going to get out. Yesterday's low. Oh, yeah, 48 was yesterday's low, former lower.The move is 46 63. You can use that as a minor resistance. I, this is not unique to read to these type of casual restaurants though. This is the top. This is any restaurant out there over the weekend. We try to go, we try to go into Starbucks just to get quick, get a coffee, and then go to the store. And we were, oh, for two, it was two Starbucks near us.And they tell us open w w w one of them, I don't even know if it was not open. There was a line at the drive. This is at nine 30 in the morning. This is all like, you know, there's a line at the drive-thru and no one moved for 10 minutes. So we left and we went to another one and they were just, they were just trying to close.And this is Starbucks because of the labor. Yeah, I, I P I would assume so, but I don't wanna own Starbucks. They, Saturday morning, you know, at a Starbucks, right? Like that's like prime, Starbucks. Right. You're going to have issues, you know, and this inflationary issues is starting to create problems across industries.And you're going to have issues of labor shortages on minimum wage paying jobs you will get. And if your business is relying on minimum wage, your business could have some problems. So, I mean, I look at that and think, oh, Starbucks for me then. I mean, let's take it back to eat. Um, there's a lot of peer place here.We love talking to sympathy. We talked sympathy in our educational event on Saturday, there is a. Of restaurant stocks, I'm talking like there's like 30 out of them out there, but let's go to the direct peer and that is Darden and restaurants. So it would be a direct peer for EA. Yeah. Well, and obviously all of casual dining, so let's stay away from last year.Check this out, check this out. I want to show you this cool thing. If you don't know how to find like relationships like dentists in Benzinga pro I just went to the details widget and you know, this is your, your details page and I'm on Brinker. We've appears tab on all the restaurants. McDonald's Starbucks, Spoler young Darden, Texas Roadhouse Wingstop, Wendy's Papa John's shake shack, cracker barrel cheesecake factory Jack in the box bloomin' brands, which owns Outback, right Dave and busters.DineEquity Denny's right there. All right here. And they're all gonna be. Okay. That's an awesome tool right there because you know, I'm always going around. Okay. I kind of have a lot of the names in my head, but you might forget about a few, so it's just great to just get them in front of you and look at what they're doing.And if you look at what they're doing this morning, you can see a very clear pattern. They're all trading lower. So we've got DRI going to the direct peer train down two and a half percent down, $4. These are big moves for restaurant stocks. Typically don't move around like this. So you're going to see a lot of stocks get hit here this morning.Um, Chipotle is showing higher, but that was just an odd ventral print. It's actually trading lower, but again, I'm staying away to pull these more fast. So I think you're going to see casual dining hit get hit more than fast food. That's why, you know, you look at like a Texas Roadhouse, which has kind of casual dining.That's getting hit here this morning. Um, obviously T XRA. Yeah. Um, you know, you've mentioned the cake CA K that's trained three and a half percent this morning, more casual dining, more kind of a direct peer there. So think about those ones. Those are the ones that are going to hit the most. Are they going to just bounce right back?Well, that's to be determined, but eat will be your leader here today. So if eat starts to show some life, maybe some of these other players show some life here too, but there's going to be a lot of restaurant stocks that are going to get hit this morning. Somebody asking about Wingstop Wingstop is actually offered down this.So it might get hit a bet again. Um, I it's Wingstop fast food. Like when Wingstop, when you go in the narrow, those sit down restaurants, I've never been a fast casual. I would call it. Cause sometimes they have like wins. Take out. If you're a big takeout thing, it might be different. I'm not sure. No, because we're not talking about demand, Dennis, we're talking about input costs, right?We're talking about, uh, commodity costs and labor costs right now. I be scared owning any restaurant right now at restaurant stocks. I don't think, I think there's better places for your money. And you think of what the run, some of these have held up very, very well, even like, like, you know, some, some of the big ones have held up well, too, so, but like you were saying Starbucks.I mean, you know, Starbucks is not far off its 52 week high it's 10% off it's 52 week high. But you think about where it was a year ago, $70, 113. I mean, if all of a sudden they're having labor shortages. Well, that's, I, I highly doubt that's I don't hear that happening. I think it might be a unique to your area.Maybe I hope because I'm not hearing any of that, but I mean, if that is happening your way early on that, I can't see, you know, closing stores because the demand is there. They don't have a demand problem, which is a good thing. They don't have a demand problem. What they have is obviously a problem, a labor problem.And I think you're going to see this across different industries that rely on minimum wage. People don't want to work for 12, 14, 15 bucks an hour. They can see the cost of living going up, up, up, up, and they're just like, no, it's not worth it to me. So, I mean, there's going to be trouble. Obviously your teenagers will always be able to work, but you know, you get your managers, you know, where, you know, it's going to be a little bit tricky.So for someone else, we went out on Sunday night to a normal sized restaurant and, uh, uh, Jim, Jim Brandy's, is that what it's called? Yeah, no normal size restaurant. Um, they had three weights that three weight waitresses for the entire restaurant avid behind our waitresses behind us. There was a party of eight and they were like, we're not going to see you.Like we have the, we have the room, but we're not going to cause we can't see, we can't serve you. We can't wait on a party of the eight or three people for the whole. Like we just can't, we can't deal with that right now. So they turned them away like, wow world, are we in? Like, you know, it's not a huge restaurant, but it's not tiny.It's like a normal sized restaurant. And, uh, and it, you know, maybe, maybe, uh, lone piggy and cob. Right. I think so we got to start investing in more automation here because we need the robo waitress, you know, but with, McDonald's think about your order-taker, they've got those kiosks where you just type in your own order now.So you are seeing automation take away a few of those jobs. Automation is going to have to come and save the day on a lot of this stuff, because you know, a lot, a lot of these people aren't coming back to these $15 an hour jobs or $12, what's been on wage. And like what's been wage in Michigan. Do we know, do you know off the top of your head, the minimum wage is one is one thing, but, well, I don't know what the dollar amount is.I think it's like $16 in Ontario. What is an admission on the. Uh, for this, I Starbucks the one at 12 and Northwest, I buy it three or four times Dennis. And the thing is it's still it's, it's still $9 real estate for you all Starbucks investors. I keep an eye on one 10. I mean, this has been yeah, 1 0 9 41, 1 0 8 88 went away 2110.I was not even anywhere near today, but if it takes out that one 10, I think you got a quick date with a hundred and HASCO coffee is fantastic. I don't know why you'd pay five bucks. I go long Costco coffee, short Starbucks for if you could just do the Costco card, the McDonald's coffee, the best coffee too.Is that like sacrilegious and Canada is safe. Tim. I know like a lot of people hate me because I keep saying that, you know, I hate Tim Horton's food. I think it's the worst food in the world, but it's the smartest business model. Because even though I hate him, I don't drink coffee and I don't like the food, but somehow I still spend money there.I can't figure out how so their genius marketing and their systems are just awesome. But I, on every corner it's out of convenience. The kids are chatting donut, you know, you go in there and then he grabbed something else. Oh, unbelievable. Yeah. Anyway, the minimum wage is 9 87 in Michigan. So that's what you can box on paper.But in reality, it's more than that because no, no one was working for that right now. So if they put the on to work for that add yesterday and the radio, Amazon here is paying 22 an hour justice. Great great for the worker. Um, is it great for the worker though? Because I mean, even though you're seeing, oh yeah, they're getting paid more money.Everything that they're buying is costing them way more money, but it's not to the same extent. People think it's way too. The same way. I know don't no, I don't. People complaining about like $20, big Macs. That's not going to no. Oh, I don't think we're going to $20, but I would hope we're not going to have a $20 big Macs.We got major problems. No, you, you, you, you, you increase your big max by a nickel. Do you ha do you know how much more that a Nicole is enough to cover? Well, I don't know if that's true. If I compare Chick-fil-A Chick-fil-A sandwich used to be about six, six something, a combo nine something. Hi, there is, there is fine.We'll give you that. I'll give you that it's bigger than you think in the food and the. I I'll give you, it's not a nickel, but it's also been not going to be something that I don't think they're going to $20, big Macs. I don't think grown to $10, big Macs, but can they go to $5 bucks? What's a big Mac right now.The big Mac3 99. Okay. I have no, I don't eat McDonald's very often. And my kids do, but I never, I try not to even order food. Okay. Okay. Fine. The chat's all over me for this thing. Ivan says he just paid $4 for a large fries at McDonald's. So, okay. Find your jacket. This is a big max, 4 98. Now is that right? Five bucks.Remember we used to get like nine, 9 cent, big Macs, Joel. And he'd see how many he could eat. Remember that like 29. I used to get free. You know, they used to do that promotion. If you could say two, all beef patties, pesticides, lettuce, cheese, pickles, onions, and assisted me, bud. If you could say that without messing it up within like five seconds, you would get a free, big Mac.That was an old, that was an old promotion. Probably only easy. Mike probably remembers that. Yeah. Hey, let's talk about some, some other trade ideas we talk with. Yeah, we, we, we, we didn't get to UAL. Maybe we'll cover that later, but that's okay. Let's put on CAC lag tour from opt-in to AI. Cause he's always got ideas for us around it running.He sees season because he's an options guy and earnings calls. Volatility CC you. Good morning. Good morning. Can you hear me? We can hear you. We can see you. How are you doing today? Good. Great, great, good, good to hear from you. Good to see you. What's what have you been, uh, uh, looking well, looking at out there?Well, um, obviously the Netflix earnings last night was very interesting. It was, and it was sort of a classic example and I think it was, um, you know, I think maybe Dennis was talking earlier about it. Just, you know, it going up after hours and going down and getting bought it, getting sold and it's sort of a classic example of.You know, the difficulty of owning options premium into an earnings, you know, like we had that expected move at about 5% and you know what, I, I haven't checked it in a few minutes, but you know, it was down about 2% earlier, which means, you know, like owning options into an event like that. Uh, you know, the options when they opened this morning and they're probably going to be down about 30% in implied volatility or something like that.And you know, what we talk about when we talk about the expected move and options, AI is that's essentially the, the, um, realization of that implied volatility. It's a way for equity, traders and options, traders, to understand what, what that's implying. And, and so if I percent move in Netflix, that's down only 2%.Basically anybody that was short option premium is basically a winner. And anybody that was long option premium was a really, you know, if you were bearish where if you were, um, you know, owned puts, you're probably right on the edge of, you know, you're fighting for your life with the stock only down 2%.So it's a really good lesson of, you know, why, you know, you have to be careful going into an earnings event with options and you know, the various ways. And when I say that, I mean long options. Now there's plenty of ways where you can position, you know, sh credit spreads. If you're bullish, you can be, you know, um, short of credit put-spread, if you're bearish, you can be shorter, uh, credit call spread, you know, that protects you against that kind of situation like Netflix.Um, even if you were bearish and you want it to be long pre. You know, if you had bought the, at the money puts and sold a put at the expected move, which was down 5%, you're probably, you know, you might be up a little bit, uh, this morning on a trade like that. But if you just bought a straight put in Netflix today, despite getting the direction, right, you probably are going to be, you know, fighting for your life on that trip.So that's something where, you know, when we talk about the expected move at options, AI, you know, we that's exactly. Netflix is an exact, um, you know, it can seem like magic sometimes and the stock will move 5% and you're like, that's magic. But really what the best way to think about something like that is that's the break, even of options.That's what options have priced. And anytime it moves inside of that options were overpriced. And then anytime it busts through that expect to move options were under. So you see, it seems like the same theme. You know, this isn't a unique to Netflix. This is unique to, it seems like most of earning stocks going into these earnings is that they have a real struggle to get through those expected moves.And sometimes they turn right on those expected moves too. So like I was just saying, you know, you get, you know, one side and one side while, you know, if you got the big open interest or you've got the expected move, it kind of, you know, tries to cap it over here and tries to bottom it over there. Is this just go to Italia again, that it's more money being made, selling options and buying options.Yeah, well, definitely the math is in your favor going into earnings. Um, you know, you're going to get a compression in, in an environment like this, where, you know, the fixes and the, the mid-teens, um, you know, you're probably most of these earnings, the, the implied volatility after earnings is going to come in 25, 30%.But, you know, in crazy markets where, you know, volatility is really pumped. You can see that as much as like options premium can get happed after earnings and Dennis, what you're talking about is very interesting because, you know, everybody's sort of looking at these options, um, you know, especially institutionally the same way into an earnings event like that, and that buy the dip, sell the rip that you're seeing actually.You know, if people are long, you know, a lot of that can be effected by options, uh, positioning. And so, you know, especially after hours, when the equity markets are thin, you know, somebody sitting there with a book of a lot of gamma selling that, you know, rip and buying that dip is them scalping stock against their, you know, I was just going to say that if you're long, any of those calls and Netflix yesterday, you know, let's say you took a flyer.I mean, where was it trading at six 40. Maybe right around there. I mean, you take your, you know, your long up a call from six thirty five. I mean, your, you gotta not, you, you sell it, you sell it at six feet. I could actually, those kinds of moves and stocks like that, I'm just thinking, wow, there are all these sellers, it's 6 46, 39, the all-time high.Now you traded at a premium to that. What about all the people that wanted out at six 40? And they're like, get, get 10,000 out there, get 20,000 out there, get 50,000 out there. And when the thing's like six 50, they're putting orders in at 6 45. They're just trying to get done. And then on the downside, you have the same people that, that have the port.So a lot of times the stocks they'll trade like that today. But then they'll release after a day or two or even Monday when the options are off the board. So it's an interesting dynamic by the time. And I think, you know, you were mentioning Joe, when you were talking about Netflix before, you know, when you were mentioning like six 20 support, you know, a lot of people are looking at those same levels, right?They're positioning options. You know, some people might be buying puts down at that level because they're long Netflix stock. They're like ours, that's the point at which, you know, I want protection because if it breaks, there could be trouble, you know, things like that. And that, that provides an opportunity.You know, if you are bullish Netflix and you know, and, and I, I want to share a screen and sort of show, um, so the, oh, there we go.So basically, you know, this is a chart. Can you all see me? Yup. Yup. All right. So this is an options AI chart in Netflix, and you know, like what we were talking about earlier with the six 20 line, you know, that's essentially, uh, a level of support and what we can do is this is actually something cool and new on options.AI is you can select like a support and resistance mode and then take, you know, the stock down to the six 20 level, and basically what this does. And then you know, that you can sort of pick an expiration here. Let's say, you know, around 6, 22 or something like that, and this will create some credit put spreads to low.And so basically what's happening here is, you know, from what Joel was saying is like, you know, I'm a buyer at six 20, or at least I'm, you know, I'm thinking that it's going to find support there. You know, that this will allow you in the options market to sell a credit, put spread down there with a very easy to understand risk reward of, you know, if, as long as Netflix doesn't go down below six 20, I think I have a 6 25 in this case, but, you know, that's the risk reward of selling that put-spread at that level.So, you know, that's something we talk about in, you know, with options is that there's more than one way to, you know, to basically position like, and a lot of times it's not, it doesn't necessarily have to be, you know, I want to be long calls and long puts and even long, you know, debit call spreads and debit put spreads, as you can position saying, I think Netflix won't go beneath.Uh, TC, can we look at like another one that okay. Like Tesla tonight, for example? Yeah. So Tesla, you know, like looking at it right now, we can see that it's priced options are pricing about a 4% move. And, you know, with the stock trading 8 65, that's about eight 30 and 900 in the stock. Now the fact that it's lining up with 900 as an expected move is very interesting because you know, how many people in the equity are looking at 900 in Tesla, everybody probably.Right. And the options market has a way of doing that where, you know, it's now pricing, its expected move at 900. And so the way I would look at this as a trader is, you know, if I was bullish in Netflix or in Tesla, I'm sorry. Um, you know, I would be looking to position in a way where it's buying something closer to the money and selling options at 900, right?What are the chances that Netflix rips through or Tesla rips through 900? You know, probably not that great, less than 25% probably. And so in that case, what you're doing is you're, you're basically positioning and this is a debit call spread and 8 65, 900 debit call spread, you know, risking about 1300 to make 2200.If Tesla goes up to 900, and what you're doing is you're allowing the options market to help you finance, being bullish and Tesla, and creating a breakeven much closer to where the stock is traded. You know, if you just went out right, and we're buying calls, you know, you're, you're basically needed to go through 900 to make money, you know, especially based on what we talked about earlier with the collapse in volatility afterwards.And so this gives you a chance you're, you're selling to all of these people buying 900. They have a very low probability of being right at Tessa going through 900. Now it may happen. There's like a 25% chance that could happen, but you know, it's more, um, you know, like hitting doubles then looking for the home run.Is this how you approach most of your trades when you're coming? I usually sell an option CC or, yeah. So I would, you know, I think like a really good way to look at options is if you are net flat premium, you know, when you're, when you're directional, let's say, you know, there's a stock you like, and it's, it's just gotten beaten up and it's down 10%, you know, buying a, um, a call spread to the upside and, you know, pain premium.But I, you know, I would very rarely just be long, a call or long a put, right. You know, I wouldn't, I wouldn't want to take what the market's giving me and turn that into at least a debit card. As far as like general strategy, you know, like there's things like, um, Condors, you know, like selling premium for income there's if I'm bullish in, um, a stock, you know, a credit put-spread, that's slightly out of the money might be a way, you know, like sort of what we were talking about in Netflix earlier.So I think those are the ways to think about it is that like your sort of net, when I was a market maker, it was sort of, you know, I think we would lean net short premium, right. Just because it was like, um, it was, there's nothing worse than being long premium and coming in every morning and having to make up that money in.Right. And it felt like death by a thousand cuts. And what market makers generally do is leaning short premium. And, you know, and I think that's a good rule of thumb for retail traders is to at least be as close to flat premium as possible. And what that means is if you have 10 trades out. You know, make it be, you know, five debit spreads and five credit spreads be, you know, somewhere around there.And you know, the, and then you have to look at the probability of profit of all of these trades. So, you know, like I would say the probability of profit of a credit put-spread that is, um, 85%. Like we call that, um, you have to be careful, we call that like picking up pennies off the train tracks, right?Yeah. So if somebody had a portfolio, if I could look at somebody's 10 options trades and their net probability of profit on all those trades was near 90%, I would be like, you have to be. Right. Because if the market goes crazy, you're going to be losing $90 to try to make 10. Right. So that's also that probability of profits, somewhere in there around that 50% level is probably like a very, you know, like a, a good place to be.If you've got, you know, 10 options trades on. Awesome. I love those charts. It's awesome. That's not how most options information is conveyed. You know, the, the options chain is, is a lot a lot going on there. Uh, that's a very visual way of I'm a visual person, so yeah. And the way we look at it as it's trading in context, right?When you go to that options chain, you, you it's like a vertigo right up is down, down is up. You don't know where you are in the stock. And like, you know, You know, your show is basically looking at charts all the time, looking at support, looking at resistance, how much is this stuck in to move? That's how most people think.And that's how people should think in options as well. Question for you. How do you anticipate volatility crushed during earnings? Uh, I'm asking because I'm looking for stocks with a negative 10% volatility crushed. Do you have a, a scanner or how do you do there are a couple of services out there. Like I know for off the top of my head, there's like, oh, rats, there's a bunch there.I would say the general rule of thumb in a market like this is you could look to about 25 or 30%, uh, Bob crush. Now it's dependent on the stock if somebody, if it's a really uncertain event, but just, it's interesting. Just looking at these Netflix and Tesla expected, moves, like the fact that Tesla's only 400.Means that that is historically much lower volatility than a normal Tesla earnings event. And, um, one thing we have with, um, options, AIS, people can go to the options, AI earnings calendar, and it's free to use, and you can search any stock you want. And what that will show is the expected move for every stock.Um, and it should be like tools dot options, ai.com. And it'll show you the expected move in all of these earnings. And then it will show you what it's done, like the last four earnings and how much it moved. And that's a pretty useful thing. Like, you know, the past isn't, you know, it doesn't say a ton about the present, but you can kind of get a sense sometimes when you look at those, like, you know, you see one outlier that, uh, a stock move 15%, like three quarters ago, but then the other couple of moves have been 4%.Options are kind of tend to balance between that outlier move and then the more common move and that more common move is more likely to happen again, if that makes sense. So sometimes options can get it wrong because they're still pricing some crazy move that happened three earnings ago, and you can kind of see it on that calendar.It's very interesting. CC lagging tour, a Twitter handle and options learn options. AI is his platform. CC always a pleasure, man. Thanks for that. Great to see you guys again. Great to see you on that man. That guy knows his, his stuff. There is one of our best guests, like just to break that down, you know, I love those charts.I mean, so many people, you know, just coming and taking flyers, I'm going to buy calls the same. It's going to go to the moon and he's telling you typically doesn't happen. And those expected moves often do cap it. And I mean, if you're trading at these earnings events, it's good to know those expected news because an and an expected move just for newer traders there, you just out of the calls, the putts, if you want to get it quickly.So you look, yeah, you look at the close strike and then you add up the calls and the putts. So like for instance, on Tesla right now, if you wanted to know, he could go to like the 8 65 weeklies and just, uh, out of the call premium premium from the eight sixty five and you'll get the expected. Um, there's another website.You can use that if you don't want to do all that math, there's not a lot of math. I could teach my seven year old to do that. All right. Fair enough. Fair enough. I was going to, I was going to show, show people a shortcut, but don't forget it. It's still involved. My shortcut still involves math anyway. So, you know, if you don't like math, it's hard to be a trader though.Okay. Uh, we got, we got 10 minutes. Take your time quick. Before we do that though. Quick PSA. There are some people asking me that BBI G on top of the show, we're going to talk to Ted Farnsworth, the CEO of zap or the co-founder of dash today at 12:15 PM. Eastern time on the power hour, myself and Aaron Bree.So, uh, we're going to clear off the confusion with 10 himself. Excellent. At 12:15 PM today. So in three and a half hours from now, we're going to. And, and, you know, I've had multiple people sending me Twitter hate here this morning. Cause uh, last night stock comes out with an sec filing and tanks. Like, I mean, it goes all the way down to can bring up the church older, like $5 and 85 cents.You know, I'm lucky and people asking what's going on with BBI G and I'm going to looking, I look at the sec filings and the sec filings as a CEO and CFO resigned. It was also said on multiple news services as well. Everybody's telling me this was a planned event. I don't know anything about that. I'm just telling you why it was getting hit last night.It was getting hit because the algos, we know news algos don't dig into the details. They just look right there. So it got hit down last night, significantly. Um, catchy published an article after that. A lot of people given the hate on that. Um, but you know, the reason why it was getting hit really hard last night was the way that was in the sec filing.I don't know if it was planned. I don't know if it was it wasn't planned. They're telling me it was planned. Apparently the CEO. And we're going to find out we're having the CFO. It's it's a complicated corporate structure, but it's the co-founder of like the, the sister company they're doing a spinoff or something.I don't follow the company closely. I tweet out lots of news. So I tweeted out last night, tweet out, lots of, you know, right away. You can see, you know, stock straight down 25%. You're like, okay, well what's going on there? So there's an sec filing coinciding when the stock started to fall. So you go read the sec file and you see the resignations in there and you can get the reason fairly quickly.So whether the news algos have misinterpreted this, I do not know stock is still trading down 12%. I'll limit my comments there though, because, um, when you give an opinion on a stock like this, and everybody hates you, if you're. Yeah, so I have no opinion on, so the takeaway there is 12, 15:00 PM today. My son find out from the CFO.Well, no, from the co-founder of zap, which is like the parent company. Um, and so we'll talk about this. Uh, I will say that a lot of people are saying, you know, after Kathy's article, the stock fell on that article, the stock fell 25 minutes before that article was published. So the stock fell on the sec filing.It did not fall on the article that came out 25 minutes. Stock had already traded down at bottomed. While before that article Bravo, Moe, 1982 is asking about Alta. We did hit on that earlier in the show briefly, he's looking for an entry though. Joel, in you LTA, uh, I mean, this is, this is the one day. I mean, this was the first day of the move.I think he got to let things settle. Um, I been looking at D I mentioned this before there's is a higher price stock. I'm looking at this whole 3 55 to 360 area as potential support. You're kind of bouncing off, but what you got to think about is stocks like this. He said there's still a lot of people sitting on a lot of profits.So from yesterday. Yeah. Or losses from your, yeah, our losses from yesterday. So they did the company just come out and tell you, give you bad news. Yes. Yep, right? Yep. Yeah. So, um, I'd be careful on that one. As far as an at least let the dust settle for a couple of days. What about United here? UAL? They had the earnings, they were last night.All these airlines are kind of in the same to me. Um, the earnings are what they are. They're still not making any money, but they're all in the same exact boat. Uh, we're still not back to where we were before. COVID, but we've come a long ways back from where we were the last year. You know what the thing scares me about UAE.They're expanding. They're like they're spending money. I mean, they're, they're looking, they're looking to expand. So yeah,one more thing on maybe the chat or Dennis Johnson helped me out. I don't remember any airlines ever specifically giving guidance for how much they're going to pay for fuel. Maybe they do. I don't remember it. UAL did that last night. They actually came out and said, we expect, we expect in the current quarter, this quarter Q4, we expect to pay 2 39 a gallon for our fuel.Um, I know, is that reasonable? Well, I don't, that's the thing. I don't know. Obviously you paying for a gallon. No, no, no. That's an apples and potatoes. I fill my car up every three weeks. What is it? What is it though? In Michigan? I don't know. We're at all time highs. We're like four liter, four bucks. Sounds, sounds reading.Or how the heck did they get it for two 50? Because it's a different fuel. Dennis. That's slightly different. It's different. But the point is, I don't know if that's reasonable for jet fuel. Like I have no idea if that's higher, low. I don't remember them ever. I don't remember any airlines ever say giving guidance on their fuel costs.Maybe this is a normal thing. Um, I just don't remember them had that happening. Okay. Let's look up a chart for UAL. Yeah, man. It, it had that big run up. It's lost half of the move. I mean, you had a spike up a spike down. I would just figure this level right here. And if it could get back above 47, 75, 48 and hold, then you have an expectation for it.Going back up to this $52 area. If not, you got some work to do on the downside, a important level to keep an eye on 46, 10 was your low back on the 23rd and 46 0 8 is your low, uh, from yesterday. So 46 to 48, the see which way it decides to go. Yeah. Everyone was saying that, you know, cause they buy in bulk.They're getting locked into a certain price. Maybe that's true. I, but I just don't remember seeing that as a line item before. Maybe they do. I just, maybe I don't look at the releases enough on the airlines. Maybe that is normal. I just didn't know. I, I didn't see it. So let's move on here. Uh, Martin just dropped a couple of tickers in there.Uh, Coinbase and Verizon, Verizon also had an earnings. They were this morning, I believe during the show. And it's look at the numbers. EPS beat sales, myths guidance for the fiscal year coming in a little bit light. I know it's in line. Well, they gave it it's in line. They're in line with our ups guidance there.Uh, uh, they beat on their EPS for the last quarter. Their sales for the last quarter came in a little bit light and, uh, what's the stock doing? It's all. I can't hate a stock more than Verizon, just my opinion. Um, you're getting a nice pop. It's a nice $2 pop from where it was four days ago. It's giving half of the losses.I don't even care what the report looks like. I just think it's not the kind of stock I want to own in this inflationary environment. So no low growth company where you're in it for a 4.8% dividend I pass. So just my opinion, but I don't like Verizon at all. Uh, 53 20 is your pre-market high that right around your October 11th high at 53, 20 53 twenties, a pre-market high 53, 29.That's a cell zone for now. If it could somehow bust through that area and keep going and gets more room on the upside. But the fact that the pre-market high and the daily high, um, coincide, uh, that's a good level. And then, um, just real quick, I'm going to hop off here, but, uh, like every day, um, people are signing up for pre-market info on marketing.And that's not a product. What you guys want to do is sign up for pre-market prep.com. That's the site pre-market prep plus. So go, you could go to the site. That's where I do the nine to nine 30 show. So if you're listening to this and you've signed up for that microphone product, that that's not a product, it doesn't exist.It doesn't go anywhere. So instead I'd go to pre-market prep.com. So I'm going to hop over there and cover some symbols. Spencer, I'll talk to you later on, uh, one more thing I want to hit on before we wrap it up with, uh, is, is Facebook Dennis, did you see the Facebook news, Angie and their name? What is it?This Facebook's pulling a Google is what they're doing. Why they're pulling a Google. They, you remember how in 2015 Google, we're not just a search engine. We're, we're more than a search engine. We are, we're a phone company. We're an operating system. We're doing some crazy futuristic stuff. Uh, we're going to change our name to alphabet.Um, Facebook is doing the exact same thing. They want to be known. Not just for facebook.com. They want to be known for the metaverse and for all the other things. So they're going to change their name. Um, we should all, we should start a pool as to what the name change will be and whether or not I say didn't they say there wasn't then they say the name.I thought I saw it. No, no, no, no. I did. I saw by this morning. No, he didn't. No, he didn't Facebook game change. I did. They didn't, they haven't announced it. I thought they, no stop. I saw something going by. Oh, no, it just saying, okay, sorry. They're just saying they're going to change the name. Why are they going to change the name or the name of the platform?Or just change the company? So it doesn't mean anything, but. I mean, why do these companies, these good companies want to change their names? Cause they want to be known for more than just what they're known for. Right? So Google didn't want to be their alphabet, but everybody calls them Google. They still have the Google because Google, nobody calls Google alphabet.Even though I type in, it says it's alphabet. Somebody says, well, what's alphabet doing, I don't even know what they're talking about. It's Google. It'll always be called Facebook, changing the names. People just, I hate change. I'm one of those anti-change people I think. So. I don't like it to change. Chad's got some good ones.Here are some of the verticals, Zucker verse. You want to look at coin Coinbase. Yeah. Wholly Zuckerberg, Coinbase. Coinbase might be, this is an incredible move. And I mean, if you're buying it now you're in total chase mode and we know chasing has not worked in this environment, but it has worked in this stock for the last three or four days.I don't know where it reverses. You get back down to that 200. I would be a buyer at two 80. I'm not going to be a buyer at 3 0 6. I like the stock. I just don't like the move. I need a dip to buy next. How fast, how do you feel about the Bitcoin futures, ETF being a top in event? No. No, I don't think so. You know why?Cause we've been climbing up slowly and you're getting more people interested. I actually don't think it's going to be a topic. We started that live was topping event. The big point ETF is something that, you know, obviously we talked about for awhile and we're not fully out of full ETF yet. Um, I'm still long Bitcoin.I'm still long. Ethereum. I'm still long high blockchain from our friend Frank Holmes. Those are my three Bitcoin positions. We can't go a day without talking about Alibaba. So let's talk about. Let's just, you know, we talked about three days ago, I was basing to break out it did. I think we talked about it, you know, and obviously I had a couple more days of basing and now it has broken out.Um, Alibaba has bottomed and obviously kind of like capital 20, 20. We actually called it on that saying the one 40 was a nice setup. I wish I would have bought more. I did not. I still have my long position. I think on pullbacks, you're looking to get into these stocks. I think that the China stocks have bottomed here as well.I mean, we've had a wicked rally in the FXI. I can't come in buying at 40 points higher than it was 10 trading sessions ago. So I'm not chasing it. Um, I'd be waiting for a dip. It would've been good three or four days ago when we talked about, on the show saying this is consolidation and this could go again.We're right on that. And obviously I'm stocks up almost 10 bucks. And where we talked about just a couple days ago. Yeah. Pretty crazy. Now it's gone. Hi John saying, I call it. Thanks John. Hindsight's 20, 20 a few people in the chat box. My drops. No, I'm not going to buy them K way. I began I'm I enough. I mean, I, there are other places for my money than, than this just yeah.And I'm not, I'm not heavily invested in China. We know that I have a little bit of Ali Baba and I've, you know, on pullbacks here. When I get a little more exposure to China, maybe it's still a lot of unknowns there though. Okay. That's talking long-term hat. Yes. You also starting today. We'll be able to trade, uh, we work that's back conversions happening.So we're gonna be on that skin. It's going to be a weed WWII. It's not live yetWWII or the SPAC conversions happening today. So it's what is it? It's like B O WX. I think it's B O X. It's still true today, pro X, but it's going to become we today. So I'm sure the topic of Warren's backslash. So you'll have that to trade, which is, which is always fun. Okay. All right, Dennis, have a good day, sir.We'll catch you tomorrow. Um, just a couple of quick notes before I hop off here, and then they're going to do live training as, as we do every Wednesday. There's a Friday, um, on the earnings calendar for tonight. We've got Tesla. We talked about that. We've got IBM, we've got Las Vegas sands. Those are probably the big three from my calendar here.Tesla, Las Vegas sands. IBM. Yeah, those are kind of the three of them interest me. So, uh, we're going to be watching those today. Didn't they hit on all the stocks. Didn't hit on a Biogen. Didn't hit on Abbott labs. Um, that was the break. So a real quick programming note for today, we've got a lot going on on the interviews front.So we're gonna do a live trading until 11 back to tackle start or on toes hacker dispatch stack, we'll start at 11. Uh, they have to interview stands back stack, um, and we've, and from there, we're going right to back-to-back interviews on power hour, which is where the, the, the, the Ted Farnsworth interview will be.Uh, I'll be on this channel. Each video will redirect to the next one. Um, We've got four interviews and like a hour span on the channel today. We've got a, I made a photo. He was a chairman and CEO of, uh, inter private and Andre attorney. If you don't know, uh, aspiration, uh, this is one of these neobanks. If you don't know what a neobank is, it's basically, there's an entire class of new startups out there that are basically startup banks and their whole deal is that they don't charge fees.And they're really consumer friendly. There's, there's probably about a dozen or so in the U S and aspirations going public via SBACK. And they're probably the third or fourth largest, uh, Neo bank in the U S but there's neobanks all over the world and Europe and, and, and, and, uh, Latin America as well. I believe so.Uh, that's the first one. And then, uh, Matt Higgins from, um, channel will be on backstage 8 45 today. So that'll be exciting. OCA is the ticker there. Um, so we've got a lot going on today. How we doing on the like front we are? Oh, elite training. I almost forgot. I'm sorry. Elite trading. Jessica Kaylor will be on at one o'clock with me and a lunar bust.We'll follow it to Joel. And I will be back at three 30 and then we're going to do the same thing we did yesterday for earnings. We're just going to hang out after the close. Um, after four o'clock myself and Mitch we'll we'll live stream. Uh, the Tesla earnings test is usually out like later on though, I think.Right. We're gonna have to figure that out. I think Tesla usually reports let's look up and they usually report as far as time we can do that in the pro by looking at past. Um, past reports. So Tesla usually reports earnings. Oh, last quarter. They were at a four or five. So that's cool. Um, okay. So maybe they won't be hot sometimes they're at super late, but I guess four or five is the reason why.So we'll talk about the earnings as they come in. After the close today, we'll do that. We'll just kind of hang out and that'll be our last show of the day. So all that being said, uh, everyone please hit that like button we're a 311. I'd appreciate a little bit more. As a reminder, today's show brought to you by masterworks masterworks.io is your link.It is in the description. It is also pinned to the top of the YouTube chat it's been there. The entirety of today's show, um, this isn't a platform of democratizing. If you want to diversify away from stocks away from crypto. Um, as far as I, I know masterworks is the only platform you can invest in art and, um, they're worth a billion dollars.So there's clearly some demand there for, for this asset class. Um, and, uh, it's a pretty, pretty, pretty fast growing company. And maybe we'll have him on the show one of these days, but, uh, there, there is Lincoln chat and description, uh, thanks to CC laggard whore for coming on the show today. Thanks to all of you in the chat.Uh, the people that are nice and people that are mean, and you can, you're gonna meet me and my, they, they mind, I don't, I don't really mind if you're, if you're me just don't be too mean. Um, that's a wrap and, uh, yup. Jesse elite trading. I'll see you at one o'clock man or the chat. If you ever want to come on our show, come on on a stream.Do you have any feedback for us? Email us guys shows@benzinga.com. I put the email on the screen right now. Where's the email. Yeah, I lost it. Whatever I lost, it shows dot com. Email us questions, comments, concerns. And while you're there, check out Benzinga pro pro DOP. Oh, there is. There it is. Pro it shows up it's going to come.And then, uh, Ben think a pro pro.benzinga.com. Get a free two week trial. Use the code YouTube 20 to get 20% off your subscription. But also again, the free two week trial can trust it enough, no credit card. No, no hassle, nothing just free to week trial pro.benzinga.com. Uh, all right. Live training will start in about five minutes.I'm going to hop off everyone. Good luck at the open stay green and, uh, catch 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:Market RecapTakeaways From The SEC GameStop ReportBitcoin Futures ETF opensEarnings from PG, JNJ, and moreThe Level of Heat in the NFT Markets Is InsaneValkyrie switches the ticker of its bitcoin-linked ETF to BTFDLink to SEC Report here 2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Ivan Feinseth, Partner and CIO, Tigress Financial Partners 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 TranscriptWe buddy happy Tuesday. We've got a big day today. We're going to talk about that. Uh, that sec game cyber report. We're going to talk about the Bitcoins. You have. We are earnings, big show. Whoever's in charge of this thing. Can you please hit that intro? Thank you.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 stick, I've been the penny. I will buy the stock for a Peck, which everything that you need to start your trading dayoh yeah. Good morning. Good morning. Good morning. Hope everyone is having a great morning so far. I am. Um, I am ho I was hoping to be back in the office today. I wanted to go back to the office, but today I was told what I have for wait. Basically 10 days from when I've been symptom-free. So I'm not allowed back in the office till next week, apparently is the rule.So I'm stuck home for the rest of the week now, but, um, doesn't mean it can't do the show. So here I am. And here we are. Good morning. Good morning. Good morning, everyone in the chat. Let's catch up there. Good morning and war Jim Dino, Evan Donkin, Dave, everyone, and everyone. Good morning. Good morning. Good morning.Um, Ivan's fine. Seth will be our guest today. 8 35 tigers, financial partners, users, CIO, or gait. His thoughts on markets. We'll talk the Bitcoin ETF. We'll talk earnings. We'll talk about the game. Cy proport from the sec. Last night I read the whole thing, so you don't have to, but it actually was a good read.So we'll get to all that. But first we have to get the charts up on the screen. Joel, how are we doing on this Tuesday morning? Um, well you had the small dip yesterday. Now a dip is any time that the SLPs are rat even by tech. Now we've done. We're off 2250. Spend a little time beneath the clothes snug into the 4,500 handle all four fifties, your eye, your next daily high that's coming up at oh nine and a quarter.That's usually a timber ten's high crudes. Do it okay to up 76 cents at 82 44 challenging night. The move from yesterday, you have silver catching, a bit of 65 cents to 2392 Bitcoin. That's up 7 55 and 62,000 4 0 5. Ethereum. That's up to $37. It's 3008, 1150. So triple D uh, boring after hours. Huh? Did you have, it was really slow.Last night we had like a three point and P range for the better part of three hours. It was just nothing happening. Um, a little bit of movement, more movement. It's been kind of a straight up climb here over. Again, by the dip. When's the day yesterday, I was hoping for a little bit bigger dip, but I did get down and dirty, uh, reallocating the longterm portfolio, doing a few things.So what I was doing yesterday was trading in utility stocks. For bank stocks. Um, and the, on the, in the Canadian side, not the U S side, because some of these Canadian bank stocks haven't really run that much in there. Yeah. I bought a bunch of this in my long-term retirement account yesterday. I sold what a stock called Canadian utilities, which a big utility company in Canada.My thought process here, obviously this is the long-term hat on is that if inflation is sticky, I believe it is. That's not good for, you know, instruments and investment vehicles that are just basically dividend and which is a utility stock. I think the Canadian utilities is like a 4.7 or 4.8% div. And I was like, I'm not sitting around in there to just collect 4.7% and inflationary environment.I'm going to actually go over to banking Nova Scotia, which gives me a 4.4, 2% dividend, almost as nice. But with the upside of participating in appreciation, if interest rates do start to create. So that was my thought process yesterday. So I was doing a little bit of buying in the Canadian banks. I also bought a, uh, a bank called Laurentian bank, which is called back.So I don't believe that's traded over here, so they won't be able to see that one, but just getting down and dirty, getting a little more exposure for if we do get into a rising interest rate. I remember wrenching. You know what Laurentian does trade in the U S central bank. Does the ticker is L R C D F.Yeah. Whenever they have more than four assembles. And I just don't so, yeah, L R C D F I guess, is what I was buying yesterday. I think it's got like a 5% and it's got a pretty nice one too. So you're getting the dividend again, getting exposure to banks, because I just feel like we're in this environment, that inflation is not going to magically go away.And I do believe that eventually. Especially if the market continues to rise, that's going to have to do something about it. So John Dawson in the chat says, this is what John Dawson loves Laurentian bank. I don't know if he's, uh, if he works there or if he's a customer, maybe circle back. There's a lot of, he's a cool back, I believe.And I know OntarioLaurentian bank headquarters to a Horseman's convention outside of Montreal. Last straw you ever been there? That was probably seventies or eighties. That's the headquarters is in Montreal. We're going to expose exposer exposure to some French facts, but I think there English as well, or exposure to banks, all I wanted was more exposure to banks.Let's try and look at the charts and look at a few of the Canadian banks that haven't just ripped and roared. I mean, Royal bank. Really how or why is that one? It's really how to run here. So whenever give Canadian banks the lot we shut, there's like 5:00 PM banks we've been looking atdouble digits. 13 Wu is a pretty good. Yes, it was a pretty good guy. Remember when that was going on of business, that almost happened. Yeah, that almost happened. I remember there was a lot of books in the office that I remember in the office that day. Anthony Loverde said, this is just like how it was with.And then, um, in terms of the trading that they anyway. Um, okay. So I want to talk about this a sec report for a minute, and then we can move on, but I read the whole thing. So you don't have to, actually, I, I do think it was a pretty interesting read, even if you, you know, what happened in January, February, and you were there and you follow the story the entire time, it was still an interesting read.I thought you could just skip to the last page and see the conclusions, but, but if you're into this stuff, which I am, then, then I think, I think you might actually enjoy reading it. Um, a couple of takeaways that I had, uh, or that I had from the, that the sec had number one, um, off exchange trading, uh, volume is the sec thinks that's a problem, right?They talked a lot about that. How, uh, not all, uh, retail order flow gets to the market. We know this, and as you've obviously been complaining about that, I don't know a decade. So I think it's 12 years. Yeah. Um, th this is an interesting stat and I can pull up a chart here in a second. Um, the increases in price coincide, this is a I'm reading now direct quote, the increases coincided with a sharp increase in the number of individual counts, actively trading GME, uh, by January 27th, the number of unique accounts trading GME on any given day increased from less than 10,000 at the beginning of January to nearly 900,000.Whereas that chart, let me pull it up for you. This is a chart that shows the number of active accounts. We're trading it as many as 900,000 in the beginning. So where did it go come from? Oh, from fro it started here. I don't know what is that like 10,000, no, less than that. Uh, yeah, to show how much this retail movement, when they get on a stock, how much influence the retail traders have.It's uh, it's absolutely amazing to see that shirt that's yeah, incredible. Incredible. And you can see, so the green is, is institutions and headphones, so that increased, but not nearly to the extent that the retail accounts increase. So, um, I thought, I, I thought that was very interesting. Yeah, sure. It tells the whole story.I mean, this was the buzz, this was the hype. This is, you know, the whole reason behind it. The the sec point out that there are some headphones that will cost money and other hedge funds that that made money. So if you're thinking this was like, um, you know, the, the, the populist movement, the little guy gets it at the expense of the big guy while some hedge funds made money, too.So not quite like GameStop did not, uh, did experience some fails to deliver, but, uh, not enough to indicate there was any naked, short selling. So that might have some people, uh, upset, uh, sec things that clear needs to be a lot faster. The T plus two could contribute to the problem. Um, the sec things that need to be improved, um, the ETFs, right?XRT and gamer G AMR, which both hold GameStop and both. Uh, and oh, the, we have a typo in our chart, sorry, in the graph say, sorry guys. Uh, um, the, the ETFs are really good job there. Their spreads got water, they traded a little bit premium to nav, but other than that, they did a pretty good job of handling the, uh, the, the, the, the increase in demand for, for GameStop, um, cheek.You know, I talked about this on Saturday that I believe GameStop and the X 30, which is equally weighted, meaning that, that adjusts they're supposed to stay equally weighted, but it only rebalances quarterly. So obviously any movement in January, February is going to be rebalanced until March. I believe at the peak, um, that excerpt GME was almost 20% of XRT from 0.8%.That's just incredible. Yup. Um, as the month went on in increasing percentage of volume in game stop, actually. The percentage of, of GameStop trading that happened off exchange is higher than the sec thinks there should be. But as the month went on, that percentage actually went down because nobody wanted to take the risk.Right. Right. Exactly. So here's a chart that actually shows shortly that again from the beginning. So the, the, uh, email of GameStop trading volume that happened off exchange is higher than the, than the sec wants it to be. So on January 21st GameStop open at 39 and closed at 43. So nothing really crazy there.62% of that day's dollar volume was executed off exchange. I was on the 21st. Okay. On the 28th, a week later when GameStop opened at 2 65 and went to 1 93. So like, this is like peak craziness, right? Um, yeah. It reads the percentage of game, time, dollar falling in that trade off exchange got bullet down to 32%.Yeah. Right. Cause nobody sit it out and all that. They didn't want it. Well, Citadel was actually, they said they kept making markets. They may be one of the few, but you got to think as a market maker, you're trying to make the spread. And when it starts to get you this knotty and you see just lifting like that, it's the same thing.As when we had the flash crash where I was like, oh, now all of a sudden the oxygen American makers don't want to make markets cause there's too much risk. So literally you got to a situation where GameStop was rising so quickly probably had a lot of off exchange market makers saying, no, we're not going to trade that.I mean, that's been my area. All along with off exchange market making is that they provide ample liquidity, 99.9% of the time during times of, you know, price. Uh, you know, when, when prices are really going crazy or prices are falling drastically, they can just stop making markets. Now, as apparently, Citadel did not at least what we can Griffin set, obviously.So maybe they were the 32% that kept making markets, but there was probably a few off exchange market makers that said we're just not going to make markets and game GameStop to that. Yeah. Yep. Uh, you want to see the short interest in GameStop actually like chart it out? I thought this is interesting to take, take a look at that drop.So this is when the gay stored interest was over a hundred percent, right. And in January and then boom, come crashing back down. Uh, in February, which I thought was interesting. Okay. Some high-level conclusions here from the report and then a, well we're short interest actually fell dramatically. Yes.That's what that chart is showing. Yeah. And that makes sense too, because you've got firms like set it, or like not like Citron, Andrew laughs. You know, who were short on fundamental saying, well this is disconnected from fundamentals completely. So I'm just not going to participate in this. Yup. And this is my argument too.Um, I just want to say one more thing. Go ahead, go ahead. Finish your thoughts. And I got the conclusions from, from the report. Uh, there was, there was four, um, essentially the forces that can cause a firm to restrict trading are complicated and there's not any one reason. Um, uh, Consideration should be given to whether game-like features and celebratory animations that are likely intended to create positive feedback from trading the investor as a trade, more than they would otherwise in addition payment for order flow and the incentives that creates may cause broker dealers to find novel ways to increase customer trading.And this is nothing new here, right? Including through the use of digital engagement. Yeah. There's nothing new there. Um, trading in dark pools and through wholesalers. Yes. Yes. See, like I said, things it's too high, right? Much of the retail order flow and Jimmy was purchased by wholesalers and executed off exchange, such trading interests is less visible, visible to the water market and may raise questions about execution, quality investors receive.We know this, um, and those were kind of the big takeaways. So nothing really new, but like I said, if you're into this kind of stuff, it was a good read. Um, were there, did you read the. Oh, no half the report with footnotes, I guess I should know, because I like stuff that we said like six, eight months ago. I mean, this is like repeating a lot of the stuff that we said when we had people on and we had a bill hard sign and we had different people that talk about market structure.Dennis has been writing about this stuff for a decade. So, um, good job by the sec. See what, you know, I think that the biggest thing that came out of it, you know, when you talk about these stocks running it, you know, whatever means stocks, they brought a whole new group of investors to the market and what they're trading and what they're doing is their choice and is their money.We did have some people, um, in the, um, in our class on Saturday that said, Hey, they, they had a great run in those stocks and they gave it all back. And now that, you know, cause they're waiting for that to happen again, they're waiting for that to happen again. It may happen again, just the probability is a little bit less than, you know, doing, you know, other ways to trade.This has happened in other stocks. Like this is not the first time. I mean, we went all out because game stop. But this happens when newer companies come in, the buzz happens, bring up Tilray. I mean, this is how till re. This is what Tilray did. Bring it up, bring up the chart and go back. Oh, they have the Aphria.So I, don't not sure what after the merger, but all my charts still shows that stock went from $20 to $300 in the matter of about a week and a half, this stuff does ochre. So it is not out of the realm of possibilities that you can get just these crazy moves. And do you want to know the main reason behind these crazy moves?And this is not even speculation. This is just, you know, common sense. It's the lack of shorting that is behind these crazy moves combined with increased demand. It's right back to, you know what Tim would say too, on his stuff. You have got to ask yourself a question as a fundamental trader and you're seeing price completely disconnect.Think about Andrew left, who shorted game stops the Tron Jordan stop at 40, at 80. He said, I'm out. It doesn't make sense anymore. So we have all the fundamental traders that would normally short, you know, channels, you know, maybe he stays short on some stuff, but you have a lot of fundamental traders that are like, okay, this is too disconnected.I can't short. So now you lose all that. You have increased demand from the huge buzz combine those two and you get this rocket ship mode that happens. We see this happen. When stocks get hard to locate in the shorts, can't keep the prices in line because shorts provide a very valuable service to the market.They keep prices in check. So yes, it probably did start as a bit of a short squeeze. And then the shorts with that shirt that you showed Spencer, the short volume dropped dramatically because one, whoever was short, it got the hell out and probably took a big loss earlier. And then two, no new shorts were coming in.I mean, bright trading. Our company actually came out and didn't allow you to short that stock. Like even though we could find a locate, they made an internal rule that none of our traders were allowed to short that stock for about three weeks. Because, because of the risk, we, you know, you didn't know where it was going to go and they didn't want to trader.So we just ban that stock and break training is rare to do that, but because the risk was so high, the firm had a discussion actually banned trading in that stock. So, so that's what you have to understand is it's all supply and demand right back to what Tim always talks about. On Monday, we've got supply and we have demand when demand increases substantially and you don't have the supply and the supply, obviously we don't even know off exchange market makers from your stats.Weren't some of them weren't willing to provide liquidity on the short side and you have no fundamental traders provide liquid. On the short side, you have very few shares that are willing to sell, and everybody thinks it's going to the moon. That's why the drastic rise happens. Shorts, keep price in check that's doesn't fit the narrative of what everybody wants to hear, but that's the reality of how the markets really work because we see this.And in some cases where all of a sudden, like the Biocon, remember the via. It explodes away from BIAC and everybody's like, what's going on? Well, there's no shorts. Nobody can locate. So there's no ARBs to keep the prices in check. So if you can't get the locate, can't borrow the stock. You can't, you know, and if you do do naked shorting, it is the illegal and you will be fine as a prop trader and possibly worse.You'll lose your license or even go to jail. There is step fines. Is there firms still doing naked shorting? Apparently there is a few. But it's on the radar. I mean, I can tell you, you have to be very careful if you're a professional trader and you're doing naked short-selling because your broker's looking for it.The regulators are looking for it. There's a lot of people looking for it. Does it still exist in some smaller firms that maybe don't have good compliance possibly. Um, you know, but I'm not going to speculate on what's happening other firms. I'm just saying, in some of these instances, when you see these crazy moves higher, it's actually the people who are not willing to provide liquidity on the sell side, either selling their lungs or shorting the stock that contribute to the high rise, because the demand and supply is way out of whack.They have abandoned now their stock, uh, uh, before. Yeah, we've had it from time to time, but I'm not, I don't remember in a long time that all of a sudden we have a memo out to a traders who can't trade that stock. And the reason for that is we don't want one trader getting involved when stocks are moving around and going crazy and disconnected from fundamentals to a hundred to 300.And everybody's, you know, and the buzz is going on. I think it was only on the short side. Joel. I don't know if it was banned. I don't think it was banned altogether. Maybe it was, I can't even remember now my goldfish memory, but be careful when you're running a firm, you know that you don't want to trade with blood and bring it down.I'll also be in a market maker. Yeah. Joel wasn't with buyers. Yeah. And you're, you're just not, I mean, eventually you're saying, okay, man, you can't, you can't beat them, join them. And if you don't take that, some of these hedge funds and these market makers made a ton on the long side too. I mean, it's there it's airport, you know, you're getting buyers to 10,000 buyers at 10,000 buyers, you know, all of a sudden you short 50,000, you get another buyer for 50,000.I mean, there is a point where, you know, the market makers do that. So they, they made some money on the long side. And then when it gets then in the middle of the day, when it's just at, you know, it's just moving 2, 3, 4 boxes at a time they're like on the bed and their offer. And they're taking that retail.They're going Bing, Bing, Bing, Bing, bang, bang, bang, and printing money. So a lot of dynamics there, I don't know really what's going to come out of this, but. It's I guess it's interesting disguise plants. I'll give you kudos for Rita. That whole thing I don't. Uh, and you know, what's better just read it for us and give us the outline.I've got a feel for it. So I probably won't read it. We're going to sit in class. There really wasn't offensive footnotes from it. There really wasn't a lot new someone in the chat was asking about like a Robin hood specifically the sec, didn't say anything that Robin hood didn't already say with regards to why they restricted the buying.And someone asked about this one interest in GameStop, I'm seeing 12%, so that's not insane or anything like that. Um, that's relatively normal for GameStop actually. Um, So the agency, they didn't say anything really that new, it was just interesting to get some color on the situation. That's all I'll say.Or the ACCC agrees with Dennis, apparently that, um, you know, the market is too decentralized. And did you read the bibliography? No, I just, like I said, the report is 45 page report. Hathaway's footnotes. So I, I skipped off the footnotes. So I guess, I mean, I don't want to say we're leaking because we're April, we're eight points off that is, will yell at me.We're down, we're down eight points off the high. We got up to over four 50. So that's a decent number. Now we backed off eight points. I'm not sure what the reason is. Let's move on here. Bitcoin ETF opens today. ProShares Bitcoin strategy. Do you have B I T O E is your ticker, your nav, your net asset value is $40.So that's kind of someone, you know, you know, someone that pending it asks, where's it, where's it going to open? Probably somewhere around 40, uh, probably a little bit higher than that because it's going to be open at a premium. I would, I would assume, but somewhere in theory it should trade around $40.That's why the volume is going to be today. That's the old. Going into your own. Do you want to make a bet on that? I think it's going to be huge. I mean, he's like so, so, okay. People were asking him like, who is the, who is this for? Who's this Bitcoin futures ETF for, if you already trade big, if you already have Bitcoin, you already have a wallet and Coinbase account, whatever, this is not for you.I mean, you can do it. You can find, you can trade the buddy. It's not for, you're not the target audience. The target audience here is anyone who does not know or does not care to know to how to open. And I think a Coinbase account or get a credit crypto wallet, or even trade a futures for that matter.This is the simplest way to get cryptocurrency exposure aside from owning a mining stock, right. Amara or a riot. This is the other than that. This is the easiest way to get direct Bitcoin exposure. And not even that you're getting exposure to Bitcoin futures. It's kind of one degree removed, but, um, I'm with you, Joel.I think this is gonna trade serious series on today. I don't know how much, I don't know. It's a new thing. I mean, I'm sure people are going to be, uh, I mean maybe it'll give it a day to shake out or something and it, and the ARBs are going to be in there with, uh, you know, with the. The futures and cash. I mean, the thing to me is that the beauty of the Bitcoin market, it's, it's a 24 hour market, 24 7.There's no gaps. Right? I mean, it closes it mint. I mean, that's, that is, that's a big dinner house coin based on this is, I guess this would be, would this be? Yeah, but this really wouldn't be good for Coinbase. What it, um, I talked to somebody that it's pretty much grading onto the exchange, as opposed to having to go through Coinbase.I kind of agree with you, Joel. It's been motoring. I mean, Coinbase is because the Bitcoin, I mean, these obviously are Bitcoin related instruments. If you bring up any of these things, gonna move with the price of Bitcoin. So, you know, Bitcoin rally coinciding nicely, obviously with the big move in Coinbase, you can bring them all up.Riot blockchain obviously had a rating, but it's moved up, you know, the last couple ofI'm not sure why I don't follow the stock closely enough, but it's definitely liked then there's, MSTR all these Bitcoins docs. We got our buddy I own hive. Um, that's obviously our buddy who got the jets ETF, Frank home SU I disliked Frank Holmes and I wanted to have some exposure to crypto mining. I believe Frank is one of the smartest people in the business.So that's why I put hive in my portfolio. I'm a link I'm holding high. If I've been in it for a while, I've actually been all over the place in this I'm averaged in Canadian dollars, but it's around two 50 us and left a three 50 quickly. I was like, oh, Frank's my hero. And now he's down to Frank. I'm feeling good again.So anyways, trying not to look at it, trying to Hodel it, hoteling hive just for Frank, I might be. Am I? And that speculative capital only remember. So on the chat I asked, uh, w how so BTO is your ticker. They asked how that's different from the grayscale, the GBTC, uh, Like their legal, their regulatory structure is different.GBTC is technically our trust and also doesn't trade on exchanges. So if you're, if you use a broker like Robin hood, for example, that doesn't let you buy securities, that don't trade on the NASDAQ of nicey. You can't get the GBTC on Robinhood. You, um, also the GGC holds physical Bitcoin in cold storage.This ETF does not actually hold any Bitcoin. It only holds Bitcoin futures contracts. Okay. Mirror the price of the movements of the Bitcoin market. But, um, it's just a different regulatory thing. It's a different vehicle. And like I said, the point here is to open the doors to, you know, your average investor who does not know or want to know how it doesn't know anything about Wallace doesn't care, but just wants some Bitcoin in their 401k maybe, or right.You know what I mean? Yeah. I wonder if the premium, I mean, look at that thing. Look at, look at GBTC. I mean, it had that huge premium the entire time and it's still just trying to work that out. Look at it. What's the old time Highness, what? 56 57. And it's the spreader has not come in. That's that's interesting.We've got to get Michael, we got, can we send aand let's uh, let's start the, um, uh, try and get used to go on again. We can do that. Yeah, we can do that for sure. We can do that for sure. So talk stocks here for a few minutes. We can talk some stocks, try to bring it to stocks. Producer. Spencer was a little thing on the side. It says we're supposed to what we're supposed to do here.Tuesday earnings is next on the list. We can do it. Let's talk betting. We got Procter and gamble. We got Johnson Johnson. Uh, let's start with PG. That's more interesting to me than that than the James was saying about supply chain. Find out earnings per share to be their sales. Be they maintained. Hey, actually, maintaining guidance is pretty good.And this environment, I think so for a consumer staff, for consumers, product stock. Yeah. Cause you just don't know. Um, they announced price increases across different. We don't have inflation. We only running 2% increase on beauty, oral care grooming products. I guess the three things maybe, hopefully just three things.That's what says in the pro they hit on CNBC. With the questions. I mean, like you can tell, like they had to prompt her up and then like, they, they would ask the question and then they stuck the answer up there. And what he said was, well, yeah. It's did you just say that he had, he put his answer up on a teleprompter?Oh no. I just, the way he was like, you could just tell, like, when people they're like giving your answers to stuff, whether it's like coming from their heart, you know, I'm just speculating here anyways. He said the bright side is, well, yeah, higher prices, you know, and maybe live in, but that means demand is strong and demand is strong and that's good.So that was the argument you said there were some supply chain issues and stuff, but it was just a, a signal of strong demand and strong demand is, oh, wait a minute, wait a minute. I said that a couple of the other week, I think last week I said, it's, everyone is going to say, oh yes, price is going up in inflation because we have strong high demand.And we're not going to know there's going to be no way for us to know whether that's true or not. Right? Like we're only going to know in like six months or a year who is actually lying about the demand increases and who is strong demand and who was not w w everyone's going to say the same thing. Yes, yes.Yes. Demand is strong. It's why we're raising our prices, but we're not going to know. We don't know. Just 1 39 is a pair of clothes. That's all I'm going to give you from a technical standpoint here, going back. I mean, I don't even know if you're going to get there 1 38, 67 splits of parallels from October 5th, October 6th.All right. It's good to the Jane. What's the bomber yesterday's range 1 42 10. If you're trying to wiggle out super staple stocks in this environment, same thing as utilities. It's just, you know, there's so many reasons not to own these things. If you think inflation's going away, maybe, you know, you do want to own this stuff.I don't think inflation. Johnson Johnson earnings per share, beat sales beat, and the guidance res uh, an EPS and a sales guidance rates for the entire fiscal year here. Um, and that compound out of favor, out of favor, it comes on the backs of their getting their, uh, booster shot approved. And the FDA is apparently going to announce that you don't need to get the same booster as your vaccine.I mean, drug stocks are all hated right now. And then Johnson Johnson is like the drug consumer staples combo. It is. And you know, this chart is, you know, got a lot of people who are caught in the last couple of weeks. I don't want to own this one either. There's just, you know, if you're, and it all depends on your views on inflation.I mean, we've been talking about inflation for a bit and maybe we get to a point where inflation starts to cool off, and then some of these stocks will become a lot more attractive. So, but right now I just don't see, you know, cooling off early anywhere. I see everybody using as an excuse for everything.So just to Jack prices on you, and we've got Procter gamble, raising prices on a bunch of stuff today. So I, these are the types of stocks that don't work well in an inflationary environment. They are oversold though. We'll give them that. And it's a very good point. You make Dennis because Johnson Johnson, we always talk about it within the context of drugs, but they do so much more than drugs.They do. They they're their staples, they, they, they do shampoo and things like that. So there's lots of stuff, all kinds of stuff. Um, it's a great company. And if it got down to like the one 40 area, I probably get down and dirty just because at one point in time, it's cheap enough, but I, I don't think you need to chase this one.The range 1 58 to 1 62. You're just about it. And trivia question for Joel where's Johnson, Johnson.Now, you know how it feels. Yes. Near Brunswick, New Jersey cattle over from where? From where I grew up, I leave all the Michigan every time I say that it's, uh, how's La-Z-Boy doing in this inflation. I don't check lazy boy in a while. Let me see. All right. Side tangent there. Okay. What else do we have for earnings?Uh, Halliburton, if you want to go there, we're going to have, I haven't focused on in a second. Halliburton.Yeah. What's the chart doing? I didn't look too. Oh, this is interesting because, um, well, the reason I say interesting, I'm looking at the bottom right chart here. I'm looking at the, monthly's a pair of monthly highs at, uh, just over 25. Uh, this was pre pandemic 25, this called 25 and a half. You broke above that.I mean, it's taken it sweet all time following it, but in breakout on the monthly holds 25 and a half. I see more upside here. Oh, how old were, I know almost a 30 anyway. Can you know, I can't the people that own Halliburton and oil, uh, you know, moved up 80 bucks, 70 bucks off the low. Yeah, it's come, it's come back a long ways.So, but I mean, if you go out to the month on Halliburton, the $70 we got back to in 2014 seems like a pipe dream at this point in time. All right. It is 8 35. Let's bring on today's guests. I haven't find Seth partner and chief investment officer Tigris, financial partners. I've been good morning, sir. Oh, wait.You're on mute. Unmute that mic there. There we go. Come on, sir. How are you doing? How are we doing today? Very good. Always happy to be here with you guys. Always happy to have you on. I've seen what is on your, what is top of mind for you right now? Are you all about the earnings or is. August September, there were no earnings.There were no stock catalysts. So all the market did was focused on, uh, the fed baby tapering inflation, the dysfunction in Washington, there was nothing to go on and the market was just drifting lower. And I said, as soon as the earnings start and I believe this is going to be an incredible earning season that, uh, the market will turn around and I'm still expecting a strong rally into year end.I still maintain my 4,600 to 46 50 year price target on the S and P 500. And I think we will more than get there. And the most exciting thing yesterday about Apple's event to me was not the incredible Mac book pro and Mac that they introduced or even these new AirPods. But the fact that these things were announced yesterday, they're taking orders today.They will be available next week, which goes to, again, negate all of these people out there who try to call out apple to say, oh, I phone sales are not going to be what they were that they're, they're going to be impacted by chip shortages. Apple obviously said yesterday in between the lines, there is no shortage problem.If they're launching new products ahead of the holiday season, then they have to believe that they will be, you know, more than enough supply. And I still say that apple will have a record holiday quarter December quarter. Uh, I think that they will. Last year's record of 111 and a half billion dollars by at least 15%, if not 20% this quarter, so optimistic and earnings, you just think, God, just all this pent up demand the optimistic glass optimistic, by the way, I know no successful and no wealthy pessimists.To me, it's just a fact, but I like the fact that you cannot manufacture demand, but you can always manufacture more supply. And so many CEO's, uh, Frank Del Rio, the CEO of Norwegian cruise lines had said on a number of conference calls, you said, I worry about a lot of things. Demand is not wanting. Now think about that too powerful.So the consumer is flushed. We are near record, low unemployment at 4.8%. Wages are up. Consumer balance sheets are strong. There's pent up demand to travel and purchase and get out and do things. And that is a phenomenal backdrop. And if all that's holding back is supply, which I don't really know if that's as bad.I mean, I think unfortunately, companies that may miss earnings may point to supply chain as for the board. If they may not have strong, you know, not every company, unfortunately has strong demand. We know apple certainly does. The cruise industry is experiencing strong. The travel industry is, um, and a lot of things are, but again, not again, we're getting too positive and it's making me what don't you like?That was going to be my question. Let's go and go up less than everything. All right. Well, uh, I've liked Albertsons and they've done a great job. I downgraded the stock at $28 from a buy to a hold cause it hit my price target and they had a great quarter. They're doing well. The CEO is good, doing a good job.They have raised the dividend, which is always a positive. However, the valuation is kind of stretched. It's still just a grocery store chain. And I think both consumer focus will shift from at-home dining to outside dining once outdoor, you know, um, in restaurant dining as well. Spending money on other things.And I also do believe we're going to see a record holiday season. The symbol on that. I know the other one was what's that propane company that, uh, we talked about a long time ago. I think Raz mentioned it that, uh, the propane gas company, I've heard that outside that because I know I'm looking at well, the one, oh, there's well, you know that, uh, let's see, there's the company that makes those who's going public.Um, the outdoor stoves and the, uh, the lamp. But again, those are kind of niche things. Yes. When restaurants open, you know, restaurants were saved by delivery and outdoor dining and takeout. And certainly as it got colder, especially in the, in, you know, areas where it gets colder in the fall, they bought these, uh, like these stand up heaters.So they can maybe.Uh, I think it is trying to SPH kind of fads and trends to me. I want companies with long-term stable growth that have unique market niches that are defendable and a strong brand equity and unique attributes that drive customer loyalty and customer demand because we found something that Ivan is not jumping up and down 400 grocery stores, but it doesn't look good here.I mean, it's sold off. I mean, it's really, but my favorite staples retailer is Costco. Because they've shifted by the way, when consumers needed staples, they went to Costco and Costco sells a lot of discretionary purchases as well. And, um, look, they're noted for selling a $65,000, uh, collectable, baseball and bat and, uh, a $200,000 diamond.And, uh, so you never know what you're going to find a Costco. Why don't you? It's part of their, uh, unique shopping experience. Wait. Uh, yeah, they, they sold a collectable, baseball and bat for each like 60 or 65,000. Uh, they have diamonds, they have, um, they've had fancy watches, uh, Rolex. And actually we're seeing a story.I remember seeing a story like 10 or 15 years ago. And they, I think it was like 60 minutes or something and they just like, maybe it wasn't, but they just compared the diamonds at Costco to the diamonds out, like some fancy jeweler. And they took it to some expert and they didn't tell him what was what?And he was like, yeah, these Costco, these guys are some guys go well, but, but diamonds have their grading and category somewhat. They're not manmade. So the comfortable nature, if you will. So there's one, you won't find a Costco. There's one thing you will find at Costco and that's the onion ground. To put, you know, they used to have that thing up on the wall for your hot dogs because of COVID they got, yes.They just said they brought back relish and thatis back. I mean, it was because of the pandemic that got rid of the, the food court, they got rid of sampling. And then when they came back and they'd gotten people who normally did the sampling having displays, and I said, you know, this is sampling without sampling. You know that we are in a post pandemic world when Costco brings back sampling.I, I understand that you're a bullish, can you give me some w one scenario, something that would have to happen. For any of, for your S and P year-end target or for your estimations for earnings for that not to happen. Oh, there's some S you know, in October, Halloween is coming in. There's some scary things out there.And the number one thing that scares me is, is oil. Okay. Um, you know, the, uh, friends from California send me, uh, pictures of gas stations, sewing. The gasoline is five, six, and in some cases, $7 a gallon. I mean, that could derail, uh, on a number of cases. Unfortunately, we, we were a few years back and, uh, Washington oil and president Biden cut back pipelines, cut back production, and it's caused a arising oil prices.And the other thing is it's not only high prices because you know, consumers, why they don't like paying for gasoline as long as it's available. It's okay. And then you add to that shortages and we've heard that there could be natural gas shortages in Europe, and that China is going to start to have to ration energy.And that could be further disruption to supply chains, um, already, uh, what caused the weakness in the market when we started this week, uh, yesterday morning was the fact that China GDP came in at 4.9, not the 5.3 expected, and they were supposedly energy issue. So I mean, energy is. And I think it's a long time coming till we get to electric cars.But it's exciting about the number of electric car choices that we will have available by this time next year. But energy is a scary thing. All right. W w what has to get Ivan back on when we're the next time that we feel like downright terrified about the market? So we gotta iron, I've not gone to reassure us that everything will be okay.And then everything is fine. And we're going to new highs by the end of the year, because you, you you're, you are, you are nothing if not consistent I've and I can't remember ever you becoming on our show and being anything other than bullish, and Hey, you've been mostly right. So it's paid to me, but all right.Yeah. He's yeah, you're right. He's been all right. Glass, glass, half full and the, Hey, it, it, it works. So, uh, I've been fine. See, I was a CIO at tigers financial partners. I've been a pleasure as always, sir. Thanks a lot. Great to be a thanks for having me on he's always so positive. It kind of makes me sick. I know what I mean, it feel better kinda makes me sick.You've been positive too. And you've been right here. I'm a hundred S of people. It's a go you're like, we're going to make the all time highs by the end of the night. Yeah. Yeah. But there's a difference between like, thinking that like the stock market's gonna make a new, all time high and just being a generally positive person.I'm generally a pessimistic person. I am too. People tell me that in the chat all the time, like, okay. I have one bullish call out there, but in the rest of my life, I'm pessimistic. Okay. We need it. We need to be surrounded by more optimistic people. I've always been pulling I'm too negative. I've always been Jason.Jason tells me all the time. I'm a dude. I'm a two negative and it's not now. It's just your, you know, people have different personality traits. Yeah, yeah, yeah. Yep. You're right. Anyway. Okay. What else do we have today? I saw the, yeah, someone mentioned Merck in the chat. I saw the merch headline, right? That there was a group affiliated with the world health organization.That's going to buy those pillars of the COVID pill or fill that gap salad. I'm along it completely talking against my buck. And obviously it's not investment advice because I'm holding it long term. But as a. Two point rally and Merck. It's been going down. I think it's selling opportunity for you traders out there.I'm holding my Merck. Yeah. Still holding the stock that I bought a decade ago. You guys want, uh, you guys want a level of levels and this one, your pre-market high 79, 74. If you don't think that the good, the folks that were selling at 79, 66 and 67 on October 13th and 14th, weren't palms out at that level.Uh, let's see if we get back up there. Uh, but that looks like great resistance today already starting to leak about 60 cents. You want to talk to Macy's for a second here. Uh, Joe and I discussed this at the close, but DAS, we didn't get your thoughts on the Macy's, um, report that they're going to IPO there, Saks fifth avenue business, which is at this point basically entirely e-commerce.Um, and that was a headline yesterday. What drives the price like this? I mean, this investors just want a story, Saks fifth avenue, which, you know, obviously was traded at one time and basically they didn't make it. And now they're going to bring it back. Um, Um, I find it hard to get that excited about this story.I think it's another selling opportunity, but again, we know my strategy by the rips or buy the dip, sell the reps. This is a hell of a. Maybe it has continuation here, maybe when it actually does spin off, maybe there's another bump, but wow. I can't believe that tack on that much for that news. Yeah. I think with the kind of move that had had, and also on a historical basis, you got to put a lot of emphasis on the close 28 and a quarter and add high 28 41.Now being down 60 cents a share line. Oh, if I could just get out at the mark. So write down probably a mound of paper at 28 50 as well. We haven't been up here since what, 2019. Wow. 31 90, 26, 48. Really took that out. 31 99. Your January, 2019 higher was wondering, there are 13. I didn't realize there was I'm sorry, 15 Saks fifth avenue locations where you can actually rock up to the store and do some shopping.It's not the one in Somerset anymore. Is there? No. There's one in Troy. Joel. Well, that's Somerset. Okay, fine. Sorry. Okay. Uh, all right, it's take your time. I'm here. Drop your questions in the chat. We will take a look at what you're looking at. Um, what did we miss here this morning? Talk Ali Baba and their new chip.We got a new chip to compete with Microsoft and, uh, Amazon, e-commerce gotten a pop, got the 1 78, 1 71 50, all those highs at one 70. Let's see. Old resistance. Yeah. And Baba, you know, it was massively oversold. We obviously got lucky call on the bottom on this one. Um, I'm still longer than the long-term account.This consolidation after a big move is usually to go higher. So I wouldn't be surprised. Baba could see actually one through that 180, it'd be tougher 180 5, not today, but I think the path of least resistance still higher for Alibaba. It's still long in the longterm portfolio. Well, we got to take her slime now.Um, so you know, someone asked us, we can ask everyday about this pay safe,P a P S F E Y. I mean, we're called when the ditch is looking for stocks that haven't gone yet, it's been a storied stock that the story has won, gone ice cold. The trend is absolutely horrible. So not much to like above that, but if it got above 8 0 7, maybe it gets a little bit more just, uh, everything, you know, rising tide lifts, all ships type trade.Um, there's a lot better looking charts out there. The trend is still clearly down, not even broken that downtrend above $8. It gets more interesting Neo. I haven't looked at it in a long time. That one for a minute. Oh, nice. Nice, nice move yesterday. Um, so now you start to think, okay. Break this down. Niche guys listen at the end of pre-market prep yesterday, MIPS did say thisI was there different areas to look at department stores, auto specialty realtors, trucking, diversified, industrials, and railroads. In fairness, you mentioned the, you know, for like three, it was like two seconds at the end. I think so. That's why I. Anyways, nice call Mitch. Um, I kind of, I would be a buyer pullbacks, not buying 90 cent rip and a $3 rip yesterday, but on pullbacks here.Interesting. Long-term you know, I'm talking from trading perspective. Long-term I still think there's too many UV companies, but short-term starting look perky, starting to look a little more life there. I kind of like last week. Can we please discuss Fastly? Okay. Fs. Oh, why wholly? Oh, well he says he's in from 39.Well, that's good. Yeah. It's starting to trend higher. It needs to like it's, it's run into resistance to put a double top in the last couple of days, same area. It needs to get up up there. So we need this thing above 46 and then he can start thinking about 50 right now. My concern would be the little double top that we printed from the last two days.I don't want to see that. Hold on a third. So today is a very important day for, it needs to take up too high. So the previous two days, and then it can resume its trend upwards. There is room to 50, but you know, it's kind of when going up here and you're starting to get into a little resistance area in this 45 46 area.I'm trying to look at some tickers. We don't talk about a lot as contrary as that sounds. Um, what about w we haven't talked Wayfair in, in a little bit, and maybe the other week we did a couple of weeks ago. W how was w doing, it's got the zoom, it's got the Peloton problem where, you know, we're looking at reopening and it's been, uh, one of those that benefited, obviously from stay at home, you know, on the Saturday I talked about the zoom Peloton, obviously underperformed, because there, the stay at home stocks, Wayfair as a stay at home stock as well.So it has, you know, been hit from that, with that being said, it's come off, you know, quite significantly it is a storied stock. Um, so, and it is a little bit over. I still have trouble buying it here. One, because the trend is down at two because it's a stay at home place. I want to make a quick public service announcement.Um, if you are planning on flying somewhere this holiday season, you need to book your flights yesterday. I'm just putting that out there because I was doing some flights off last night, but I think I'm going to fly to New Jersey for Thanksgiving, which is only five weeks away now. Uh, and it was insanity insanity.So if you're flying somewhere for the rest of the year, do your flight booking. Now the prices are through it up. Maybe it was just work, but prices were through the roof, through the roof. Okay. You're outta here. Justin ans has definitely, I don't know if he's talking to me or not, but. You heard it here first, or maybe not first, but do it, get that done.I could get talked in some airlines. I've hated the airlines for a long time here, even the cruise lines, but you start thinking, you know, you do have holidays coming. You do have people who might anticipate this. We do have a little bit of a reopening feel happening, at least in the economy. I'm like, I don't know where the COVID number is.I used to look at them daily and I don't even look at them monthly anymore. Um, you know, I think the fear of COVID has, you know, definitely it's not as much as it was before. Could the cruise lines, which have been selling off eventually get some life here. Cause some of these airlines, Joel, that have been selling off, I mean, Southwest is straight down for a week and a half.Is it gotten to a point now where it's oversold not talking longterm portfolio, but just as trades, you know, can there be a bouncer eventually in some of this stuff asking you Joel. Is that why we haven't heardI haven't heard that. I'm like these guys interrupt like crazy. I'm like trying to figure out, like I say something like Spencer is like talking about booking airlines, these people, these levels 10 minutes. I can't even, I can't even give it. I can't even forget all the levels I gave. I gave you guys so many good logins for all these docs toI was wondering where Joel went, what the hell is going on here? That might be the longest mute trick in the history. Of of new tricks. Um, I don't, I mean, Southwest airlines, could you get talked to any of these airlines managed airlines before the pandemic?No. Why do you have to get bullied? I mean, I don't knowthe airlines, but I mean, I'm not, I just, I get stuck on these certain things. I think you need smaller planes. That's why people are asking about Boeing. I still think there's going to be plenty of air travel, but it's, I mean, these big, what do you want to buy airlines with $82 crude, unless you're doing some great edging there.I mean, are they, you know, alleged, they're doing some sophisticated hedging also. I think, you know, you talk about, you know, behave. Okay. And change and deal. Yeah. We're coming out. People are like, I'm getting in my car and I'm going somewhere and I'm going camping. I'm the, you know, I mean, I just, I think the over demand is going to come back business travel, what's business travel.I'm saying we have this. Spencer is real. I'm booking my flights to go see my family. I haven't someone haven't seen them in two years. It didn't do it last Christmas. Do we potentially have that trade where we get this relief rally into the holiday season? Maybe we're early. Cause we're still in October.But that's what my argument is, is because these things are sitting near the lows. A lot of them, you know, look at American airlines. We're at 19 bucks. I mean the low of the whole move is like $18. I don't think it's going back to 10. Um, it, it just makes me think that maybe. Maybe, maybe we're too early, maybe we're too early yet for this holiday season trade.But when Spencer's talk and like, you know, the plight price tickets growing up, people are going to travel more this holiday season than they did last. Is there a lower bar in there? Is there so that the expectation is so low for the year. That it's actually going to be easier for them to get over those expectations.I mean, as long as people aren't like, you know, brawling over, you know, mass and stuff, and you know, that having that change, changing their, you know, whatever the mandates are. But I mean, I didn't like flying before the pandemic, you know, so it's, I'm probably the wrong person to be asking. I mean, it's very convenient when you gotta go do things and I definitely have done it probably a dozen times, you know, since, you know, since we got out of COVID, it's just, but it's like, it's not an, I think the business, I would say business travel and oil prices are two things.Joel, before you go, we need a dad joke of the day and we need it for yesterday. Also the dad joke of the day. Um, well, uh, this is kind of, and I do this to dads saying that's my little girl, even though their daughter's fully grown. Okay. Okay. Um, dads love to say they want to buy a smoke. Yeah. And learn to smoke.You know whatreally? I let Lisa do the cooking. I love the grill. I got my tank, I got my propane tank. And then the one over the weekend, dads loved camping in a tent in the backyard with the kids. That would not be me. I, when we go camping, least we don't go camping because Lisa would set up the tent and do all the cooking.But Don, I'm sorry about misses so many symbols. I'm going to hop over to pre-market prep plus and cover them for you all and get over there. I'll see you later in the morning. I'd definitely. I would like to buy a smoker and wanting to smoke meat. Um, but I got you. I got you. Should we all go along Weber?I want to buy a Weber. Yes. Top of the class parents have this Weber. That's like 30 years old and it's still, it's still working while those Webers are good barbecue. It's like I buy a barbecue and like it falls apart after five years. Cause I buy the cheap one. That's why you're going for the cheap, cheap, cheap, cheap ones match.Like the whole Walmart slash Canadian tire slash special. The one that's discounted from 600 to 300 bucks. Like that's my barbecue. And then like after five years of rest out the bottom and just falls apart. But whatever it still goes, man, I might get a Weber now. Yeah, let's take a look at, let's say let's take a look at Weber versus cook real fast.Uh, they both cook what's there a brand that's trigger. Oh, that's Trager. Yeah. All right. They both have not been great since then. They haven't been great cook, whatever. We stopped going down, at least on cook. I have not. That's the first time we looked at this chart maybe ever. So I don't mind a night, 1847.Lowe's is not enough information. That's like 10 days of trading. Yeah, well, yeah. A couple months of trading, but yeah, it felt like 10 days. It feels like 10 days. Yes. Okay. Have a good rest of your morning. And I hope the day I hope today is a little bit more interesting yesterday, Sunday morning for you.So it was somewhat boring. It was somewhat boring, so it cannot be fun days. Hey earnings tonight, by the way, guys, we got Netflix after the close. Um, so what, what we're going to do is, um, we'll do the attic close show, right? Joel, Joel, myself, and then at four o'clock Mitch hop on, we're going to do like, uh, an that's to close.Watch party. Uh, we'll probably going to do this every, every Tuesday, Wednesday, Thursday, um, for the next few weeks, because we've got a Tesla tonight, like I said, I'm sorry, Netflix. And I'm like I said, we got Tesla tomorrow night, Thursday night, we have Snapchat. Chipola Intel Whirlpool. Um, so we we're, we're getting into it now tonight.We also have United, um, intuitive surgical, interactive brokers, smaller name, but people care, I care a little bit. Um, so that's what we're going to do. We got our, we are in it now. We are in the earnings. See, I call it earnings season, game day, right? You only get four games per year for game news per year.Um, and this is game day for stock market because you actually get to know what these companies are doing. So it's exciting time. Very, very fun stuff. Looking forward to it. What else we got today? We've got David Green going live today. And as usual time until his usual time, he'll go live from nine 20 to 9 25 to two 11 SPACs attack has a great interview today.They're talking with, oh, my screen just froze. One second. They're talking with Pathfinder. Um, the, or the Pathfinder acquisition merger partner. Which is a PFD. R is your ticker a service? Max is a company that that is merging with PFD are the talking with the CEO of ServiceMax at 1115 today. Thereabouts, we got, um, experimented a little bit with the, with the middle of the day, a little bit.Uh, if you guys guys called that yesterday, we're going to start doing, I think, longer, longer continuous dreams, maybe from like 11 to two on the middle of the day. Um, Mitch, myself, Aaron Brie. So check that, check that out, check that out. Let us know what you think of that. We've got the roadmap, our NFTE show guys, um, w the, the level of heat in the NFTE market is just like, is dwarfing.Like the stock market is downright boring compared to what's going on in the NFTE market. It is insanity. Some people have been Zynga, so like, like one of our video guys. It has made like just an insane amount of money on these NFTs. It's like ridiculous doing it wrong, Spencer, we're doing it wrong. We all are doing it very, very, very wrong.And uh, so if you don't know anything what's going on, you don't even know like what the biggest entities are. I recommend that show two o'clock Eastern time, every Tuesday and Thursday right here, youtube.com/benzinga TV. Um, those guys are talking with the, with the biggest names in, in, in the NFV space.It is, I'm telling you it's insanity. It's like it takes what happened with GameStop on in January. And it's not, it puts it on steroids. It's ridiculous. Um, at the close, you know, you know that myself, Joel, Mitch will be on and then our cannabis insider show at 4:30 PM Eastern time today. That's the plan.That's the Palais. And let me just check up on the chat. I know we missed a lot of takers. I apologize. We'll cover more of them than the middle of the day and the at, to close shows. Um, we're only at 292 likes. Let's get to, let's get to 400. I think we can get the 400. I think let's not. We come on, we got it.We got a thousand people watching this. I think we can get 400 likes. That's a reasonable, I would, I would like more than that, but you know, like I said, glass, half glass, half full kind of guy or glass I'd have be kind of guy 400 is a low bar, ugly red 300. Let's get the four. Let's get the four. Um, Hey, as reminder, I don't say this enough, but Benzinga pro right.It's bending this real-time news platform. Get a free two week trial pro.benzinga.com. I'll put the link up on the screen. If you have any questions about Benzinga pro just shoot an email to onboarding@benzinga.com. Those guys monitor that email 24 7 again, free two week trial for everyone, no credit card and nothing needed like that.If you try it out, if you like it. Great. If it's not that's okay, too. Won't take any offense to that. Um, oh, you can also use the offer code of YouTube 20 to get 20% off by the way. Y O U T U B E to zero on the screen there. YouTube. Uh, let me check the chat. What else are we missing? Yeah, onboarding that's where I just an onboarding@benzinga.com.You got it right there in the chat. Hey, let me, I put the link in earlier. I'm going to put it again. Here's the link to the sec report for those of you who care about such things. Again, even if you were there in January when it happened and you follow the story, I still thought it was interesting read if all need to get, you know, the SCCs perspective, uh, on, on what went down.Um, you know, even though we didn't have any, you know, world shaking earth, shattering conclusions, it was a nice play by play. It was a nice play by play of what happened. If you don't have no idea what happened and then read that it was pretty good play by play. And, and, um, and I thought, I thought it was a good read.So, so there's the link in chat. Um, And that's what I got here. That's where I got, uh, I send my PSA about, about flying. Um, seriously guys, I'm talking like flights that normally go for 1 50, 200 going for 500, 600, $700, um, between Detroit and New York. Um, so I don't know if that's a lack of supply or, or what, or maybe they're just already booked.I have no idea, but maybe, maybe it's labor, no clue, but, um, yeah. Uh, nosh and Davenport's has that report was trash. It didn't say anything new, right? It didn't say anything new. So that's, that's the night and it didn't really say any with regards to like the, the major parties at play, right. Robin hood Citadel.It didn't say anything that they themselves haven't already said. So in that sense, it really just agreed with, with the status quo. So if you were looking for. Anything new on that front? You, you were disappointed in this report, right? It really didn't. It didn't lay the blame on naked. Short-selling didn't lay the blame on Citadel or anything like that.So if that's what you're waiting for, then yes, you, you surely were disappointed in this report, but, but, but a good read otherwise. So, um, okay. Have a car backup. Yeah. That's maybe a good idea to do tires. I'll just drive there 10 hour drive. All right. I'm going to hop off here. It is 9 0 8. We got David Green going live in 15 or so minutes.This video, uh, should end we'll redirect to that stream when it starts everyone. Um, go to log at the open today. Oh, actually last thing before I forget is, and I'm sure we'll talk about this tomorrow as well, but there was actually another Bitcoin futures. ETF. There's. One opens today. That's ProShares, that's a, that's a bit, oh, there's another one from Valkyrie funds opening tomorrow that ticker is better.It's BTF D that open tomorrow. They do the same thing. They're probably a little bit different fees. I think the, the ProShares the BTI IO, the fees 0.95%. So for every thousand dollars you invest, you're paying a fee of $9 50 cents. I think the Valkyrie fees probably close, but probably a little bit different to that.Um, so BTI IO today, BTF D tomorrow, both Bitcoin futures, ETF, ETF, both do the exact same thing. Really? Ryan BTF D really? That is the taker. PTFD I'm not lying. I guess that makes sense. Right? Big, big BTS Bitcoin FD could be fun, but we all know what they really mean. Great taker. Yeah. Maybe they get all the, all the assets because of the ticker premium.That's a thing. Um, so, okay. I'm done read 379 likes, which is not quite 400. If my math is correct. Um, which is disappointing. I got to say, I hope we can get to 400. I feel, I thought we could. I appeared to have been wrong. Um, that being said, please remember all the information from our show is meant to be used as informational purposes, not for investing or trading advice.Stephen BTF D stands for by the F and dip by the F and damp is what BTF D stands for. Uh, and it usually just works. That's the way it goes. Uh, okay. That's a wrap. You hit the like button hit subscribe. Hey, we've got the 400. Thank you very much, everyone. I appreciate that. I'll be back in the office on Monday.I feel like. Just waiting to write out the policies of the office very early, but I'll be back in looking feeling great. Good to see you guys. David Green, going live in 15 or so minutes and, uh, good luck at the open stay green and, uh, yay goes so far. Woo. $21. Yay.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy