PreMarket Prep

Episode Summary:Market RecapChina stocks react to GDP and a potential game-changer for internet stocksZillow pauses its iBuyer programGuests:Tim Quast, Founder/CEO, ModernIR and 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 TranscriptWe hope you all had a great weekend. Let's get this show on the road herecoming 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 bet the petty. I will buy the stock per pen. Everything that you need to start your trading yet.all right. Hope you all had a great weekend. Monday morning, uh, jitters. I don't know whatever you want to call them. Let's bring Joel on west spring, Dennis on good morning. Good morning. Good morning. Happy Monday, everyone. We got a lot going on today. We've got to talk about China. We got to talk about Bitcoin ETF.We got to talk about a new potential COVID vaccine candidate. We got to talk about Zillow. We'll take questions from our chat. Tim Quast is the guest today. Before we get Joel's charts on the screen, you can all hit that like button, please. And thank you. And then after you hit the lock button, Joel and Dennis give the rest of us a rundown.How was it on Saturday, then the exclusive event. The second exclusive event here. The second one. Now that was awesome. The chat was fantastic. Asking great questions. Obviously we've plowed through a lot of material there. That's why, um, you know, if you did register for the event, um, I know a couple people reached out to me and they said, I didn't get the recording.I said, check your junk mail. And they said that it wasn't the junk mess. So if you check your junk mail, because we blasted out the recording to everybody who registered after the event. So your filters might've said, oh, there's obviously, you know, this is an email blast, but if you did sign up for the event, you should have got the recording of the event.Correct. Joel, am I correct in that? We're going to get, try and get that out today. I mean, it was already out. Is it out through recording? And then it, if you have live lake, you could, you could have kept it, but I'm going to, we're going to resend that. We'll reset it out again to everybody that registered for the event.And we're also have a chance if you didn't register for the event, we're going to put it up there to be able to purchase, uh, um, to be able to purchase the educational webinar after the fact too. So we'll work on that. Yeah. And, uh, to, so I was just discussing with Mitch, I mean the back and forth, I mean, between, you know, when, when other people were speaking and the questions being answers and Amanda, some sharp cookies out there, I don't know if it was drum Powell or, you know, some other people from the fed, but they were asking some really great questions and just back and forth, back and forth, back and forth and three and a half hours that turned into three hours and 45 minutes, almost four hours.It was great. So thank you everybody from participating, we're going to get that information out to you today. Uh, let's go to the markets because that's why you all heard here. And I we're in the red. The old Friday rally is turned into a Monday, sell off. Uh, we peak just above that high at Friday 67 50 at 69 50 19 handles in the rad.We're through the inner day, low from yesterday folks. So the globe back slow, I'm looking at the 43 30 level, but will we ever traded down another 14 handles from here? Who knows our crew? Still going man, up a buck go 7 80, 2 80 gold in the red by three 50 and seventeen sixty four eighty. Ooh, silver.Let's call it flat down a half a penny, 2330 Bitcoin. Do we have a sell the new scenario here down $905 is 61, 1 70 and Ethereum. That's down 1 31 at 37 48. So triple D besides working super hard on your Saturday, how was the remainder of your weekend? Well, it was good. As long as you don't watch any of the lions' game, you feel better about yourself.If you watch any of the lions game, I mean, they've been close in a few games. This was not one of those. This was not one of those. And then you look, we've got the Rams coming up, you start looking at the schedule and you're still trying to figure. Well, which game are they winning? Because I've predicted on this show three weeks ago when they were in three, that they could go, oh, and 17 to be the first team ever to do that.Obviously their first team I ever did to go, oh and 16. So anyway, so it was a fantastic weekend. If you don't watch the lions, um, Oilers one, which is good. That makes me happy, obviously. Um, so sports, the sports went well from the hockey world, we'll say, and the hockey world. Okay. I did the most dreaded fit house thing that you can do.Uh, this weekend. I did it yesterday. No, no, no. All right. What is it? Uh, no, I had someone else do that last week. I'm at least Lisa won't love me. Lisa won't let me up on the roof. I cleaned the garage once a year, whether it needs it or not. Right. And I got a new roof. And these guys just pounded on the roof.Right. And I didn't cover anything in the garage. And I had just stuff all over the place, took me six hours, six hours, but I did. Yeah. And I went through all the archives and I did find my term paper from my senior year in high school. You know what it was or what it was about. I got, I got my dad and my sister helped, but you know what, you know what it was on what stock market,the stock market, as it relates to horse racing, that would have been tough. The stock market crashed in 1929. Wow. Yeah. What year did you write that?I want to write it right after it happened. Uh, well, y'all know how old I am. I graduated high school in 19 81, 19 80, 19 80. I, you know, I don't know if I took, you know, I was in super senior honors English, so I don't know if I took that first, second, second semester, but maybe I'll break that out sometime, but let's go to the markets we got.How do we not have the Bitcoin ETF is the number one thing here on the schedule because we're taking overI got you. I got you Spencer, because this is a buy the rumor thing, Dennis, you know, we're buying the rumor on Friday. We talked about this last week for a long time. We talked about this last week. It's still the big headline. It's still the big headline here this morning. I'll tell you that. So Bitcoin ETF, we got Tuesday.Gray scale or , ProShares not what's going on with that. So grayscale has to do something. What they have to do is a little bit different. They have to convert for. Okay. First off, what we're getting tomorrow is a Bitcoin futures. ETF is just like the USO is to oil, but for Bitcoin, it's not one that actually holds physical Bitcoin.As much as you can figure out a whole, as a futures, they're going to hold a futures and they're going to roll it over every month. Just like the, the GLD and the USO. Right? What gray scale has is a trust that physically owns Bitcoin. They need to con they need to convert that to an ETF, but they can't because the sec hasn't, hasn't approved.Want to hold the future. They've only approved you to hold the future. So we've got, I think two per shares and maybe one more set to go live this week. Um, but this was, this was being it. We talked about this, like I think a week ago, if you look at the spread between the Bitcoin futures and Bitcoin spot, I mean, it got, it's gotten wide.What is I, why now? Bring it up. What's the Bitcoin futures. What's the spot out in this door con and what are we looking at here? The future opportunities are what I've been telling you that for a month, I can take delivery of that. Bitcoin. I'll tell you that much. It's not going to be drained in my pool.Okay. Bitcoin's spot is 60. We'll call it 60,900. Right now. It's 61 to 30. Come in. It's coming. Yeah. That's the DS contract. Oh yeah. You got to go out. If you go off. Then you get here, you show us, could you have it in front? You, yeah. Yeah. Uh, Jamie gonna become a Bitcoin futurist arbitrary. So if you go out further, um, I don't know.I don't know what the symbol was on trade association, but I can get it on Thinkorswim here. If you go out to the, um, I don't know, let's call it. If you go out to the November, you get few of the features at 61 7. Right now, if you go out to the, uh, uh, w if you go out to the February, now you get almost 63,000.If you go to the January 62, 5, right? So couple of parts in the March, it's almost 63. I have I've thought 10 seconds about this. So, you know, obviously there's considerations. The fees to hold and the physical Bitcoin. So if you're going to go hold the physical Bitcoin one, you have risk. I see the people on TV that obviously the Coinbase account and just accidentally sent their email out and boom, all their Bitcoins gone.I mean, you run that risk all the time. If you're holding physical Bitcoin, that somehow, you know, obviously if you're not smart about it, you can get hacked and your Bitcoins are gone. I'm assuming if you own the futures that that's not going to be as much of your problem, I would hope. Um, but since this is tracking it, so maybe that's why the premium is there.It's not like when you look at the oil, you can't just say, oh, it's like oil and this huge rollover, because you can't take physical delivery of, you know, a barrel of oil. It just, where are you going to do with it? So the physical delivery, isn't an issue here. It's probably just more of those other risks that are involved with maybe holding the fiscal Vic Bitcoin, why you have that future premium.So it's not an insane premium. I mean, you're going out six months and you're saying it's $2,000. I'd say, why not? You know, if you're comfortable holding the physical Bitcoin. Yeah. Why am I going to buy futures at 63,000 when I bought a physical Bitcoin at 61, so that the arbitragers would, I guess, short the futures by the physical Bitcoin.And then obviously, you know, they've got the Bitcoin with the delivery. So, um, I don't know what other risks, again, I'm not a crypto trader. I've never actually made a crypto trading a crypto account. So there may be some other things that, you know, maybe just these, um, in there that, you know, are hidden with, with making the transactions and stuff.So, you know, maybe the physical Bitcoin people can help me with that too. But, and, and, and as he's saying, I'm an idiot, there's no risk in a hardware wallet, but I'm just saying. That people who don't shizzy, if you don't trade Bitcoin, like I don't trade Bitcoin. And a lot of people don't trade Bitcoin. You just want to hold the futures.You don't have to like, figure all that other stuff out. So maybe it's the, maybe it's as paying the people who are actually doing their research and going, but I will also say hackers are good. And we can say you can't hack it's unhackable on hackable on hackable. I mean, if somebody gets your code or somebody gets your email, somebody holds a gun to your head and say, give me your code, or I'm going to shoot you.You might give them your, you know, your numbers. So, and then it's just gone. So, I mean, maybe those are, there are risks involved that other people are saying again, I'm not a crypto trader, but I'm just trying to justify a difference between the price of the futures and the price. And obviously, you know, also involved as a time value.So that's one as well, which isn't much. Well, it's becoming more though. It's becoming more and more, correct. I mean, inflationary costs are probably involved in there too. So you can buy stuff today with physical cash. You can buy some stuff with physical Bitcoin too, but not nearly as easily. So, okay, here we go.So again, I'm not, I'm just saying the spread there. Isn't like oil where we have a delivery problem. We can't take physical delivery and the cost to store is a lot higher. The cost to store physical Bitcoin is basically nothing. So that's why outside thoughts, outside perspective shizzy. Again, I'm not a crypto trader.I'm just trying to say I've seen multiple articles saying there's big role because, you know, look at oil, look at the USO. It's a completely different animal. We don't have a huge barrel of oil. So it's different. Well, what they are going to roll it because that's, they're going to roll a Spencer, but in the cost.So go back to your basic, you know, fundamentals, you know, 1 0 1, the biggest cost to a barrel of oil is cost of carry. How do you store that? How do you store a barrel of oil? This is what the role is all about. It's not just everything rolls. Everything costs. Money is fit, huge costs. Hold on, though. And I haven't worked at the filing, but maybe the filing might say, we need to own the front month contract, right?Yeah. I'm sure it does. But what I'm saying is the front month contract, the difference in the contracts, the difference with oil is that cost. The biggest component is that cost of carry. Think about like, you got 10 girls of oil, where are you storing that? Spencer? Where are you putting that? You got 10 Bitcoins.You put it in your wallet. There's not, no nothing's being cost there unless they're charging for the wallets. But, I mean, it, it's the, it's the, you know, it's just the storage issue. That's why you have a huge premium and you know, and that's why you have the, obviously the issue of the roles in oil, but oil and Bitcoin are completely two different animals.Okay. So right now, now the Bitcoin futures market is in contango because the current month is cheaper than the, the monster. The further out that is normal. Yes. You're saying that this normalcy, meaning I'm saying there's a $2,000 spread there and I don't know why. I don't know why you justify it saying maybe there's risk people see risk holding the physical Bitcoin, a hacking risk.You know, maybe they're seeing those other risks. I'm trying to justify the 2000, th the, the oil, the oil, the unders follow me here. I I'm following you. The oil is obvious. Why, why there storage and transportation storage and all of that. Now you don't have that issue in Bitcoin. So why I'll ask the chat?Why is there $2,000 difference that in that? Okay. Now we're getting somewhere. That's what I'm trying to say. You're live on the show. I thought now three minutes about it. Not thought about this before. Why is there $2,000 difference?we should get Joel, we should get Russell Rhodes from the CME. Ask him that's a fantastic question. Bring her a salon, right? Yeah. Bring them on. Okay. I'll reach out to Roswell today. Russell AC, we haven't talked to him in a long time. Uh, but uh, you don't want to look at, I mean, there's, let's ask the chat.Well, shizzy, why is there $2,000 difference? He says, because it's a bunch of middlemen. Wow. There's no, you know, if you can do the futures, you can do the spot. I don't know if there's $2,000, you know, I would just say if there isn't all those risks involved, you buy the physical Bitcoin, short the futures and collect $2,000.If it's that easy, why isn't everybody else doing it and bringing it in. So I think there's something in there that I don't know, Russell would be an excellent person. Asked that question to transaction fees. Yeah. I mean, it's, it's a good, it's a good question, Dennis. I I'm asking that question because I know the answer and I don't know the answer, the answer.I never, it didn't occur to me because I just, that's a normal packing risk Alice saying hacking. Right. So that's what I'm saying too. I'm saying that their pricing and some hacking risks, but let's ask Russell, let's bring to. Because we, haven't a question how I'm calling the short answer. Alright. Can we, can we talk about what, what I thought would be the biggest story of the day aside from the Bitcoin ETF?Obviously 17 minutes later, we have a new COVID vaccine. If you look at your top gainers top gainers today, what's up, what's down your top two gainers are COVID vaccine related. Take her VA, L N is your big one in Villanova and it's w and their, one of their suppliers is Dynavax ticker DVX, which I think mark Chaikin has mentioned to us, but if I never had phase three results of their COVID vaccine candidate, and it was apparently very effective.So both Vanessa V a L N and DVA X are trading higher. Uh, the, the trial met both its primary end points and. You know, in the U S we have three, three vaccines that are approved and symbol symbol me again, V a L N B a L N. The other parts of the world. They have more vaccines are using AstraZeneca. They're using the Sputnik out of Russia.This could be yet another one. Uh, just my initial thoughts. You and Dennis, I'll let you take it away from that is, uh, you know, don't get murked on this. You know, I, I just, you know, you saw the price action in Merck. It ain't no, it held up for a couple of days then, and then collapse. So this is a nice move.You got over $40 in the pre-market. So, you know, make sure you take out that pre-market high of a 40, just over 40. Where is that? A 40, 70. You take that out. Who knows how it's going to go. But right now, you know, it's leaking and Merck had some crazy trading action afterwards, but we know what happened to America.I mean, there's a lot out there and they're all going to be cutting each other's profits. I see DVA acts is not moving as much. Triple D. What are you seeing out there? I wouldn't buy a bounce like this on a vaccine. And he does. I mean, and, and you can see the market's response. We don't care about vaccine news anymore.The market gives care zero about new, but we have vaccines coming out. There's actions are everywhere. Do we need another one right now? Probably not. We can't get the people to take the ones that are currently out there. The last thing we need is more vaccine. The market cares nothing about a new vaccine.Um, it cares on this stock, the specific. Sox getting a pop. I think it fizzles away and eventually leaks a lot of it back down. So I'm not a fan of chasing this Vaal and move up 31%. I don't think you're going to see a big reopening trade because we have another vaccine. Cause we have vaccines everywhere.Merck was a completely different story because it was a solution to, to somebody who actually has completely different vaccine news, man. That's why I was challenging weather. Number one, the gap up to 46 and a quarter. I would check your news on this day, whatever day, September 13th, whatever they came out that day.Now all these people that are caught above $45, they're like, oh no, man. Well, I, there already sound this morning. Some of their money back Juul. It looks like it. Yeah. So, uh, but good news, nonetheless, we care about China's still, China probably matters. There's a couple of headlines here this morning out of China.Headline. Number one is they had GDP for the quarter. And it came in a below estimates, 4.9% was their GDP reading versus a 5.2% forecast. Um, and, um, so slowing GDP growth, they said it was, um, due to powers, power shortages apparently was, was a big, big factor in this. So there's that that's you, you see that headline and you think, oh, every Chinese doctoring down today, not on, not, not so fast.My friend, you look at Baidu stocks trading down. I see FXI trading up. Well, I, I didn't finish chopping everything today.Let me finish. And that's not true. Every Chinese stock is not trading higher. That is not true at all, but, okay. Um, Baidu is trading higher and that is because, and we've talked about this before on the show. How in China, every major internet giant has its own ecosystem with walls. That it that's walled off from its competitors.The Chinese government has come out and said, Hey, we, we're not sure about this whole walled garden thing. We think we might want to break these walls down and integrate basically integrate companies with each other, just like in the U S right in the U S you know, Google is, is tied as relations with apple.They have relations with Facebook. They're all related to each other. Uh, in China, they're talking about doing the same thing, uh, this benefits Baidu, because this specific headline here was that Google not Google was that China were basically forced a company like 10 cent, uh, which, which owns, uh, a, we chat to allow Baidu to show up on 10 cents platform.So basically right now you have a company like Baidu is completely walled off from a company like 10 cents. You're on 10 cent. You're not getting anybody to you at all. This, this would change that this would basically integrate the companies with each other. Uh, that's why I bought you your trading higher, because it's seen as, as good for Baidu that they could basically get on the 10 cent platform and advertise their good access to those consumers, that they wouldn't have access to.What. Let's see what it does at one 70 Juul. We're we're through it and the pre-market, but we're throwing to leak back down to it. There's huge technical resistance on 70. I don't care that it's trade 1 72, 1 73 in the pre-market. Let's see if it can hold it. If it can hold above one 70, it gets a little interesting.I'm not buying the rep. Especially look at the Baba chart. Look at the five-year chart. We just did, you know, four hours on relationships. These two stocks are related, and if you look at the last two weeks, they were right on top of each other. So I'd rather show it the body rep and Buybaba here. And just put the spread on to be honest like that, obviously, you know, that's, you know, the short-term trading affects, I don't know where Baidu goes longterm.I'm just saying, you know, that Bob has, you know, five Baidu up four and a half percent Baba down half percent. That 5% today, I think. You look at one 70 shaping up and Baba until the other thing that we talked about, you know, on Saturday was, you know, knowns and unknowns in the market, you know, and thing to base, you know, short term and immediate trading decisions on it's such an unknown, like Spencer just went through all that.Well, it's good for BA Baidu might be bad for BA I mean, those are, I mean, Have to take in that many factors, you know, for, uh, a chain decision. I mean, it's tough. I'm looking at a technically Baba did trade over one 70 and the pre-market last week. Life's little wall there. The after one 70, I think this thing has some hops.I was hoping for a little bit more of a pullback to buy it on the cheap and then buy to a pre-market high. Dennis mentioned it's up here just under the 4:00 AM traders. That's another thing we talked about. 4:00 AM traders got excited, took it up to 1 73, 72, couple highs at one 70, and then it starts to open up.I, it is hard. Y'all all because basically what you're going off of, where you're going off of this morning is like one. Um, comment from the government on one day, you know what I mean? It's like, right, right, exactly. Right. That's that's the thing. So, so yeah, it, it is, it is hard. It, this is by no means an indication.Yeah. Great. For Allie. Great for Baidu, because I mean, that's, that's what their first reaction is, but that's never going to be, it's never going to be that simple. Right. So, so tough here. But my point in bringing that up was look, you have competing narratives today. You have China, GDP growth is slowing and you have this other headline that would appear to be good for certain companies and not for others.Very difficult to parse out. I think that was the lowest point. And I, and I do agree, um, you know, it's not difficult to parse is the Zillow headline from this morning, Zillow is turning down because they are pausing their I buyer program. If you have, if you don't know about this Zillow red faint open door, they're called I buyers because they I've entered into the real estate market at the uni in the U S they are buying homes based on what their algorithm tells them to buy.Um, initial reactions would indicate that they're not very good at it yet. Um, Zillow Zillow is not made money off this. The first off they've only bought a, I was reading about this the other week. Zillow is, um, in the first six months of the year, I think they only bought, um, couple of thousand homes. Um, yeah.Oh, no, this was, this was last year. So last year Zillow bought 4,000 homes. Out of the 6.5 million homes sold in the us, Zillow bought 4,000 of them. And that sounds awesome. They should be up like 25 to 30%. Well, they're not making money on those homes. They're not really, really, so, so one of the reasons they're promising this program today is because they've actually, they're pausing, they're buying because they have a backlog that they need to sell for.Yeah, I was just going to say, if you're going to create an algorithm that tells you when to buy, then you also created algorithm that tells you when to sell. And I mean, you could buy, buy, buy, buy, buy, and now they're kind of competing against themselves now. I mean, this is, this is horrible news. I mean, not only for Zillow, but kind of for.You know, the, the economy and the housing market. I mean, eventually we were going to hit a glut, right. I'm just looking at 80, just technically, you know, I don't know how this news is going to work out in a long time, uh, in the longterm, uh, 85, see a low at 83 93, and then it was surrounded by a bunch of lows around 85.That's the only level you have. It's the only thing you can lean on, have not hit that yet in the pre. So there's a really good blog post an article about this, uh, on a medium that I read a couple of weeks ago, and this guy Corey left Coby Lefkowitz did, did some digging on the numbers. And according to Kobe, he said that.So since Hillel began meaningfully buying homes in 2019, the average value of a home that Zillow has sold has increased 16%. They're making 16% on average on their homes, which is not. When you look at the last 12 to 16 months, home prices are up like 25 to 30% of the time. So they've lagged to a certain, or you can just look at the entire picture and say, okay, in the first half of the year, Zillow lost about $667 million.That's interesting. When you consider the fact that the housing market is on FRAGO right now and they can't really turn a profit. So, so, okay. It would appear to be that right now, we're still only copiers into this. So it would appear that Zillow Redfin open door, um, those are the three largest buyers that they're just cause they're buying some homes.It doesn't mean necessarily that they're a driving our prices or be actually good at it. Right. Um, that part remains to be seen. The headline this morning would indicate that Zillow is not super great. If they have to pause the bond. To get through their backlog for the homes that they already own would indicate that they're working out at the king.Still not to say they can't, that can't be done, but that's what's happening here. So people are looking to buy the dip everywhere, um, everywhere, not even just, you know, like there's certain sectors that have obviously underperformed, but I think after, yes, last week's rally. I think people buy the step. I don't keep care about the headline.I just think that there's a lot of support. 85 you're 86 and a half on ZG here this morning. You can look, obviously we talk, you know, the share class arbitrage a little bit on the weekend too, but zebra ZG pick your poison. There's two there's major support down there for CG around 84, 85, same thing for Z, G, Z.Um, so lots of disease in there. I think people buy. Just as Domino's pizza, they bought the DEP I liked the business Domino's pizza much better, although they throw it back off to this thing in itself. So again, don't chase, you know what I mean? Main, main reason. Main thing here is don't chase even IWM today.So you had, you know, S P Y looks pretty darn good from Friday. IWM did not look good on Friday and actually closed fairly week. We had some separation happening there again. So IWM, I like back down to two 20. I don't know if you're going to get all the way back down there, but I am looking, I do believe Spencer Israel's thesis that we're going to be at new all-time highs by the end of the year, it's going to old.That's my opinion. I'm looking to buy dips on everything. I didn't even be considering buying the dip on Z and Z G leaning on the lows of the move. Wow. I did not expect that. You didn't expect me to buy the dip? Well, Zillow, Zillow, and again, I'd wish it wasn't Cylo Spencer. I'm just at this point right now where I think there by the dip on everything.All right, Mitch, what's up? Hey, so many magical buy the dip on this just because they're looking to buy the dip on stuff. I think what's going on here is more of a buyer's situation than a Zillow situation. I think what's going on here is loans are getting harder and harder to get, even though rates are lower.So they're requiring more on the credit side and the requirements for income, because I think banks are concerned even though there's low interest that just don't want to be passing out loans. Yeah. I mean, that could be, yeah. I mean the down payment is, is, is the, is the barrier to entry right now. They don't want to get, they don't want to give loans based on the valuations that, that are coming out now because the, the, you know, a house that you could have bought for 400,000 and got a loan for now, you're paying 5 75 for, you know, did it really, you know, I was evaluated, you know, and the appraisal's going to keep going up like that.I mean, well, there is a narrative out there that Zillow is responsible for driving up prices in certain markets where, when you look at the actual quantity of homes, as Dilla was bought, it doesn't really hold water. Um, but it's a convenient scapegoat. Then again, as, as the chat, it could also just blame it on private equity because everyone's buying homes.Well, just from a, just from a fundamental, uh, perspective when, uh, when I had the discussion with, um, with gene and gene Munster and Sean Udall, Sean liked the open, uh, uh, gene, like the Z, uh, I think they're a nutrient Redfin, but their thesis was, and it didn't have any to do with them, you know, buying up houses and trying to flip houses.Their thesis was. They were going to get a bigger piece of the pie, that more people were going to be. You, you know, you, young kids, like you are going to be using these platforms as opposed to using your traditional brokers. They're just going to get a bigger P you know, it's kinda like Tesla is Tesla going to have a hundred percent of the market now, but if they keep getting a bigger percentage of percentage of people buying cars, then that's good for the company.So that's a long-term thesis. You can put debt in your pipe and smoke it, but that they're just looking at them an increase, their market share. Let's go on and Zillow too long. Talk toDennis, what do you want to talk? You know what? Let's go talk. Let'scall last week. Metro Mitch learned us three days ago thatMitch and Joel, nice. I am giving you beyond this. I said it Friday. Joel said it Monday. Wait like this Monday, last Monday. Oh, Monday. He said it on Monday and I had brought it up on live trading Friday 36, 12. Anything you can trade technically the longterm AMC. I still don't understand it, but I'll tell you it doesn't, it's separated from all fundamentals.All that matters. The technicals, the technicals are looking okay. There was a dip Friday night and it was dipping down a dollar and a half, Friday night. I don't even know why, but it was a buy the dip opportunity. And AMC's moving higher here too. I'm not saying load the boat in AMC. I'm just saying these.We, we can catalyst Spencer, right? Yeah. And Spencer, Israel went to a movie. Okay, fine. I'll call Kidman. There are, are we about to have like a, um, uh, a moral debate here because I did, we did go to the movies over the weekend. I, now I wore before anyone says anything. I want, we both wore masks the entire time.Get 'em get 'em. And before we even went, we, you know, you're going to buy your tickets on one at a time. We didn't do that. But we looked at like the seat map and James Bond. And we went, we looked at this seat map and like, as of three hours before show time, 90% of the seats had not been purchased yet. So we thought, okay, it won't be crowded.And we were right. It really wasn't, it wasn't that crowded. But we did go, if anyone wants to shame me for it, go ahead. A core, our quarantine is over. It's over, right. You're you're not even sick anymore.I figured I would, I should probably ask someone before I just showed up and you go to the movies, but I went from the movies is X quarantines. You're not sick. I mean, I don't know when you're officially COVID free or where they say are COVID Dennis it's months. Did the doctor said it could be, it could be monitored before, but if you don't have any symptoms and you're not coughing all over the place and the doctors say your quarantines over, right?Yes. You gotta go with that. Yeah, exactly. Exactly. So, anyway, I am your weekend catalyst. We saw James Bond who was half hour too long, but it's pretty good. Otherwise, uh, let's see what, let's see what the charts is just real quickly. Uh, no one can steal this from. Because I'm the first to do it. This is the eight formation here.It's a new technical term. They're going to put it in Edwards and muggy. And this is when you know, you have a big sell off and then it just kind of buys a bunch of loads in the same area, a little consolidation, or this is only specific to AMC. So this is the eight formation right here. He's got the ape formation down to coin this yeah.Next week y'all will be claiming it, but, uh, I'll be claiming it next week. Let's tune it in right now. Uh, 41, uh, you know, someone's taking some profits here, 41, not much here on the dailies. My next daily high 41 95. That's all I can say about it. Technically, uh, going into today's session 36 on a Monday, you guys got to save the show.If there's anybody.There is anyone who can save this show from being one of the worst in our history. It's Tim quasi. Save this show. We've argued about Bitcoin rollover with everybody, DennisI loved Sam. I won't fight with Tim. I'm enjoying. Haven't been on the same page for a decade here, Tim Braman, bring us in. I'm just going to mute myself and let Tim Fox, well, I'm sorry, I didn't catch most of the first half thenSpencer. Welcome back. Good to see you. You seem to be well and healthy. Hi, I'm I'm I'm uh, yeah, I am feeling I'm feeling good. Thank you. I'm feeling good? Yeah. Good. Yeah. Um, Tim, maybe, you know, maybe Tim can answer this question. So. So Tim, I'm sure you've heard by now that we're getting into a Bitcoin futures ETF this week, we are looking at the different, different futures contracts, and as is normal with futures contracts, there's some contango.You go out to steel, you look at their March, February trading on a premium to the Novembers and the October is right. Um, as Dennis astutely pointed out, there is no real cost to carry Bitcoin. It's the what, why, why do you suppose the Bitcoin futures market is trading just like the oil futures market and they go on futures market when it's not a physical good as a coal oil.In theory, you, you could take possession of if you were to hold it through the expiration. Well, I suppose you could take possession of Bitcoin too. That's. That's what we're saying. It's easier to take possession. So we see a $2,000 spread and Bitcoin, you know, between the features and spot. And I'm like, okay, I am not a crypto trader.So, you know, I've tried to speculate earlier, but, you know, I was wondering, and you're not, and maybe you're not a crypto trader either, but I don't know why. Uh, I'm not, but I, you know, it's interesting. The discussion of derivatives is always, uh, informative. And maybe it's just as simple as this, that people don't really understand futures, particularly this trout, that's trading, that's trading cryptocurrencies, they don't understand futures.Uh, and, and it's, you know, that's concerning, it's concerning that, that an ex an exchange traded fund, which is a genius idea. We've talked about this before, uh, that, that they were created by commodity traders. And that that's an interesting. Juxtaposition ETFs were created by commodity traders, uh, from state street.Right? Well there. Right. So, so they, right. So the idea behind exchange traded funds was, well, wouldn't it be awesome if we could trade the warehouse receipt instead of actually moving stuff in and out of the warehouse, that was the whole idea behind exchange traded funds. So there is, there's a, the, you know, they're cousins already ETFs and futures, but most people don't understand them.Most people don't understand exchange traded funds. Uh, so I, I think you just, you, you, you believe that there's going to be greater demand because of this ETF. And so everybody plows into the futures as far out as they can. I think that, do you know the date, the futures on America fully margined you have to, you have to put out the full amount.There's no, there's no, you know, like five tenders, no merge, and they have to put the full amount, they have to put the full amount up. So you gotta be a player with some big money even to just trade one contract there. Right. So I just, I just want, and I mean, that's a big edge to that. We know if there was fully margin, you'd say, okay.Yeah, you don't have to put the full amount up so you can get exposure to more that way. But when it's full, you know, that doesn't, you know, tell the reason for the $2,000 difference either. Yeah. Right. Well, I, I it's supply and demand to me. That's the, and that, that's the, that's a nice, uh, uh, uh, linkage between.Market structure edge and these markets it's, you know, it's all about, that's really what we come back to it's supply and demand and the trouble with understanding supply and demands effect on, on derivatives is that they are they're the they're applause. There implied demand, an implied supply that may or may not actually manifest at the time.And that's what gets confusing. Of course, that today, today new options are trading. So the options that were for October expiration lapsed on Friday and settled Saturday morning. So now that there's a new series that's trading and all of this stuff comes back to me to supply and demand. Uh, I always like to talk about the, you know, the thing for traders to keep in mind, just so that you're aware you're prudent.You're, well-informed, it's good to know what you're doing, uh, that, that mortgage backed securities back in 2006, Uh, it became a way for the residential mortgage market to absorb a lot more demand for the underlying supply and the trouble with that is when the prices of residential mortgages stopped rising.Then all of that implied demand got written to zero. That's always the risk, uh, with, with a derivative instrument and I'm not look, I've got nothing against ETFs and futures and so on. I just think that you should understand that and that when prices become uncertain, now we've added an element of magnitude potentially.If this continues on the course that it appears to be on, uh, to the CR the cryptocurrency market by introducing, uh, implied supply and demand, that can be marked to zero. This is how you increase volatility in mind. On that happy note, let's go into the markets. Let's go. And obviously, you know, we can go into some individual stocks.Maybe we should just check out some individual stocks as we've got Netflix. Let's go to Netflix. We've got Netflix going to report tomorrow, tomorrow, tomorrow. Uh, Tesla's going to report Wednesday. Let's look at the market structure here. Break down Netflix, Tesla. And, uh, drum roll. We have, we have officially launched market structure edge to point up.So we'll be, that will become the, the, uh, platform as of a week from now. And, uh, the principle difference is that we've made it very easy to understand supply and demand. That's the whole point here. So everything now will be supply and demand noticed on my graph here for the October 18 Benzinga portfolio, where demand is rising and supply is falling.That is very easy. That's what we want to put all the focus on, you know, it's supply and demand and understanding the underlying motivation. This is the challenge for technical technical charting. To me, it's that we, we don't know what the motivation of the money behind the prices. It would be good to know that because they don't have the same purpose and time.Uh, but we can now just go through here and I can look at everything if I want to look at Tilray and compare it to stem, I can immediately see those comparisons and see what the supply demand differences are. So it makes it very quick and easy. So let's go look at Netflix, uh, and, and Teslas again, I'd be, Tesla has never ceased to be an extraordinary market component.So here's Netflix from a supply demand perspective. So demand has peaked. That's what happens when it begins to come down, but it's still way above five. And the supply side continues to fall. It was very high. I mean, the reason the price stopped rising right here is because short volume was over 50% and way above trend.So price stopped rising, but this does not. This to me says if you're in Netflix, you could stay in Netflix. The likelihood that this produces, uh, a stable stock, at least, and maybe a, uh, a rising one. If short vine continues to work its way back below 50% and demand stays above five, it's just a 10 point scale folks.And you can get. Go do this yourselves. You can go. If you haven't used edge, go to market structure, edge, sign up for a free trial, put your name and email in and put Netflix in into it. You can just look it up just like I did there and expand the time and you can go back and see what has happened. Uh, over time, Netflix has performed well because it spends a lot of time above five.You own stuff that's above five tends to do better. And if we looked at Tilray as a contrast, you know, you had the cannabis show last week, right? So, so, uh, how. Well, if we look at this cannabis portfolio over here, mine has 11. You may have something else in it. And I can just look over the past 30 days and see that it's spending the components combined are spending a lot of time below five, or it's not great.The demand is rising now, but it's not back to five. The supply side, not bad at all. It's it's uh, it's near 40%. So let's go in here and look at Tilray Tilray is a one, and it's been a one it's about 34% short versus 45% in the S and P 500. Uh, the lead behavior is high-speed trades. Just machines like Citadel and virtue, just trading it against other things.Uh, and so when should we buy Tilray let's look at this. This is a, you know, this is a 30 day view, 30 trading days, and the CR you want to see this green part of the graph above five, right? It's not. So this not great. Uh, it now maybe if we come out of this options, expirations periods, so today new options trade tomorrow, banks will true up the books.Wednesday, our volatility expirations. Very important to know about that because everybody will reset their volatility traits. That's both low volatility. I might say, you know, I've got some JP Morgan funds through my financial advisors that are meant to track the S and P 500, but 50% less volatile. Well, that involves derivatives that are designed to take out some of the volatility or offset it with some premiums, options, premiums.So if that stuff picks up, maybe there's an opportunity until right. But don't buy Tilray right now. I mean, do you ever buy any stock with a market sentiment of one? Yeah. Netflix. Netflix. Yeah. It's very interesting to see that if you, we could go back test the data. Of course, historical data is no guarantee of future performance that is similar, but it's worth looking at.So if I know if I buy a Netflix at one, I like one in 10 is really great with Netflix usual. Now we'll see. Uh, so again, it depends for me. This is really good. If, if Netflix is a one, because it's spent so little time there, if it goes to one, you should buy it because it's almost never a one. Uh, the, you know, th that means if you're trading it all the time, you're going to have to have a different entry point than a one.Uh, but you could make 8% in 23 days. Now you say, well, that's not very much. Well, yes, it is. It's very good. 29% holding at 90 days, you're doing better than that audit proportionate basis. So, yes, there, there are one there. The stocks that spend very little time at one and video is another, uh, Tesla is another, if those stocks were at one, if you could set up an alert to tell you when it's a little.So that you, you buy it when it's a one and it's, you know, thatdoes not fit Tilray is just miserable. If we put two Tilray in here and just did this back up, why you would say, well, not all the time, one all the time. Exactly. It's really lot more complicated than that. I mean, look at that. It's buying a one by, until Ray, when it's a one it's almost as bad as just buying and holding it, you know, it's down 49% the last 90 days.And why is that? Because look how much time it has spent below five. So you want to find. That's not a lot of time, but a sauna, a sauna is, you know, that's it, there's a stock that if you, you know, here's a stock that spends a lot of time above five pick, by the way, we've got to give some props. Okay. Well, there you go.Uh, pick back at $22, I think, or $25, whereas gray call. I don't know if he's still got it choosing wisely. That's good. That's very good. Look at all that time above 10. I mean, and here was an awesome new entry point. If it drops below five, okay. That's a great time to buy it. Would've made 20% and about five days on a Sunday.So it's, you know, that's really supply and demand and it will be interesting Spencer to see back bringing it full circle. How having an ETF in cryptocurrencies in ETFs are infinitely elastic. That's what, that's the difference between the, you know, ETFs are just going out and buying cryptocurrencies. Th they're going to use futures, right?And futures also are infinitely elastic. So you take an infinitely elastic vehicle called a futures contract, and you put it into an infinitely elastic vehicle called an exchange traded fund. And what I mean by that is ETFs can create as many shares as are necessary to accommodate demand and keep the price right in line with the futures contract.Well, that's great on the way up the trouble is when he's on the way down and Dennis, here's something interesting to ponder. So I've been noting in my own tray. That the likelihood that my trades are fragmented into fractions of pennies are 10 times higher on the way up than the, on the way down than the way up.So all there'll be a penny spread in my trades on the way up on the way down. It's a 10th of a penny, even a hundredth of a penny I'll I'll get intermediated. So that tells me something. It means it's very easy for money to get into the market. It's a lot harder for it to get out. And so those traits get fragmented.If that makes sense. Yeah. And there's a couple of questions for Tim in the chat, Tim. I believe we've got you on the calendar for on the power hour this Friday. I think so. We'll save those questions. Everyone tuned into, I just want to ask you one question here. Cause we talk about, we talk about entries and, you know, using, um, using market structure edge, take a look at, at bank America for me because it's a screaming, it's got a, it's a screaming.Right. It has to be a screaming tent. I don't know. Let's find out it's a five, it's a five. And it spends a lot of time at five, which is interesting, you know, w what do you do with stocks? He spent a lot of time at five hold them during periods of market, uh, basing, you know, so if, if technical stops rising, go to the fives like Costco, you know, if you, if you want a ride, uh, options, expirations, period, up, put your money in Costco five, but five of five.Yeah. So, but that's the thing, Joel. It won't give you awesome performance. It's going to give you what the market does effectively. The market's about a five for most of the time. So you would have to find, then you hold this poppy, right? What's the last time. Um, it was a 10 right here. So it was a 10 at the month.End transition. Now why was that? Everybody was because the market was very volatile. Remember? So if we look at the broad market sentiment at the transition from September to October, look at it, we got caught, right? So this was, yeah. So everybody's shoved their money into low volatility vehicles and, and bank of America is a great example.People like me using JP Morgan. Oh, the market's volatile puts your money in the stuff that we will measure is five, put it in bank of America, hospital, Philip Morris, uh, Procter and gamble stuff. That's going to be 50% less volatile than the broad market. And that's where you want to be during volatility.As soon as the volatility is over back to Tesla, we go and Nvidia and so on. It's the, it's the way to think about the supply and demand of the marketplace and where the money's going to go. Tim Quan is the founder of market structure. Ed's link is on the screen. Join us every Monday, Tim, the answer I want to, I want to bring their here's.There's the gravitas where this program, and it's got nothing to do with market structure edge. You guys have been busy, but I want to note that Colin Powell passed away this morning. And, uh, uh, w you know, I had that, I had a chance to hear him speak one time. Uh, I actually traded letters with him once. I can't even remember what it was about.Uh, but I want to acknowledge the passing of a very fine American at age 84 today. Uh, colon pal, as, as you should. I saw that that happened right at the top of our show. I believe so. I, I, as you should, uh, thanks a lot. We'll talk to you again next week. Triple D, what did you do to the market? Then by, I guess it was the problem there.We've got supply demand looking at this we've now there are another, that was just like another seven, eight point leg down. I'm not sure we got solemn balances, uh, 44 41. So again, you know, we had three-day ripper here 120 points. It went farther than I thought, because on the morning, you know, on Friday morning show, I thought it was over down and we continued to rip higher here.So now we're getting the pull back a little bit of the pullback. Anyways. I do believe you're looking at dips to buy here. Honestly, I'm looking, I think you're going to be looking at, I think this market is still got new highs on the brain here, and I think you're buying the pullback. Not only inspires born in IWM as well.Now again, you know, we've run a long way, so I'd rather get spy down at four 40, but there's individual stocks that are probably going to give you some level. So I don't see much on spy, but there's definitely some individual stocks that are probably going to get you some levels. And what about gold? What about Spencer's gold?Are you interested in buying gold here, giving you the second shot right now, Spencer. Here you go. Right back down to where you were talking about. And then three days ago we thought you missed it. Gives you another chance. You're right, Dennis,what shirt are you wearing, Dennis? What w what is that? He's shark. This is my life, man. Yeah, cool. I only rotate like five shirts for the show. I haven't noticed that. So. All right. We'll do some take your time here. Um, the next few minutes, um, I, it was convenient that Dennis pointed out Netflix and Tesla, but both, both turning higher into their earnings.They both have headlines this morning, but the headlines, frankly, I don't think are relevant. I think that it's more to do with the runnings, that squid game or whatever. No, I haven't. Yeah, I will. I will. Sorry. I'm very delayed. I'm very late on my pop culture. I will wait until I'm never in the culture. I'm always, I'm never in a moment for that show.Five years behind the call. Yeah. It's not, I don't know. Sometimes we're early, but I was just looking at the Netflix. I know it's coming into the report. It's it had made that all time high and you know, bunch up and consolidation here. So sure. It looks like it wants to take a shot at that old time high.And then Tesla's been running in its report. Just even when I noticed when the market was even going down a couple of days last week, it was still going up. So, uh, pull next monthly high. And Tesla's not to 8 80 50. If you're looking to get out ahead of the report. I'm going to grab some tickers. I'll grab a couple to start with first, um, upstart getting a downgrade here, which the stock has just been a monster.So somebody is trying to call the top of the Baird. I'm trying to go on from my memory. Who was it? Downgrade this morning. Ups T I believe to underweight too. So let's just get in front of them around 1873. I don't know. Pick your poison and this one, I'd say your two day long. Let's see what happened to you today.Low. If it even gets there 3 47 feet downgraded at, oh yeah, I know it's bank America. Sorry. Bank of America downgrade it. Um, to underperform price target 300. So they're saying it's over done. So got an analyst call on the top. Yeah, you did sneak your head above 400. If they downgrading and perfect timing, you seek your head about the 400 and then, you know, he's closed.Not above it. Everybody kind of had 400 in the brain. I think you pull back to three 50 here. Me. The question is, did he just come and buy the dip on this dock too? It's so loved. I don't know if I want to buy it on a day one though. And it's so over bought that. I think there's, there could be some more to slide ahead.So it's not an easy call if you want to try and sneak out on a gapfill, uh, yesterday's. Lowe's not that far away. 3 80, 60, and then at all-time closing high, there'll be stacked up there at three 90, but there's, there's a level of upside-down Disney downgraded to chat saying, obviously we saw that as well down four box here, big support, 1 69 to 1 73 bucks away from here.This is a stock. You absolutely do not chase under any circumstances. We have the accordion shirt as Mr. Alicon has coined over the years where it just keeps going up and down, up and down, up and down. Yeah, middle of nowhere. It's just in a range you buy, like if you're playing the range, it's 1 68 to 180 5.So you're coming closer to the bottom of the range here. Now I wouldn't be selling it down here, but I mean, The Disney plus is the wild current. And like I've said, I've, poo-pooed that quite a bit here lately that they just don't have the content there. And if they start losing subscribers or Disney can actually take ahead.Uh, there was also the report last week that was swiftly denied that maybe is trying to spin off ESPN. So, um, yes, it's worth not much anyways. Uh, it is not what, what about U S deal also Don gray this morning? Um, I forget cyclical, Morgan Stanley taken it to sell from buy to sell. So what were the price target?17. I've been wanting to buy USDA. I bought Cleveland cliffs. I've been wanting to buy us steel too. I'm not going to probably buy on the day. It's downgraded here to sell because I can spook the street, but you got support down there in the low twenties steel. It's tough. I want to be long c'mon some commodities because the inflation aspect of it, but there's also the consideration of the prices went up so much on some of these, you know, that, you know, and steel prices went up as well.Are we at a point where some construction projects get put on hold just due to increased material costs. That that's a question. I mean, I've got a friend does big quoting for, you know, major construction projects. And he said that this one company that he was quoting for, it was a $450 million project.Um, just six months ago they requested it now 650 million, not a joke. What do they do? I'm like, well, in this case, they had to go through with it, but there's definitely going to be some, uh, you know, are you, you know, are you going to start to see some construction projects, major construction projects get put on the back burner when construction costs are up 20, 30% over the course of the last year that might happen.So infrastructure builds a wildcard here too. I want some exposure. I still kind of like U S deal. I've been kinda liking it down here in the 20 to 21. I've played a couple of times cause it's been working. I'm not buying on the first days downgrade though to the bubble 20 and a half. Dennis mentioned the area.I there's a lot of symbols here. We missed, I'm going to hop over pre-market prep.com and cover those. So, uh, take it away. All right, I'm going to stay on for just a second. There was a couple things I want to, uh, I want to cover here. Uh, someone that a few people in the chat talk about barked BA K T the crypto exchange, which is going public via SPAC that's back conversion starts today.So, uh, today the ticker will be B K K T. The old one was the ticker on that one before VIH, that was on the ice age. There is a really good Twitter thread about this over the weekend from Fidel Castro, who is a good following on Twitter. If you don't follow for Dole cashflow, um, it's basically, it is basically, um, box.If you don't know anything about it, um, it was, it, it is a crypto exchange that is being spun off from ice ice, which owns the New York stock exchange. Um, the implication there was that, oh, this is a company that's backed by ice died. This is backed by nicey. They know what they're doing. I think what this may end up becoming is not so much like a situation where oh, ice is backing this company.It's oh, ice is spinning this off because it's a dumpster fire. I want to show you the screenshot here from this Twitter thread over the weekend that I saw. Alright. Um, BKK T right, backed by BKT is your, is your symbol. Um, they might miss their guidance by 90 per their sales guidance. And there are a user guidance by 90%.Okay. 90% miss in March. Uh, honestly in January, the company guided revenues for the year of $900 million on 9 million users, it looks now like now they could miss those numbers by 90%. I don't full disclosure. I don't want to get down and dirty in this anytime. Full disclosure. I don't know where this screenshot is from.It's honestly, obviously from some sort of analyst note, I, I don't know what it doesn't say. Um, but this looks like kind of a dumpster fire. Here's a screenshot of Google search terms or a Google search trends for, for backed and backed up going back to October of last year. Okay. This does not look great.Um, this is a company that's going public with a $2 billion market cap and. I mean, you can see the training this morning. I pull up my, I dunno, it's $9 and 40 cents. So it's just trading kind of flat from where, I guess it went off the board at $9 and 36 cents. So it's trading, I don't know this, those numbers scare me away.So I don't nothing about this. Um, but you know, not, you're not, you're not winning the at hello on this one. I'm not trying, I'm trying to lose you. Your child is trying to lose you at hello. Hello. So, um, so, and I also want to bring up, uh, earnings calendar, obviously this week, uh, is the start of big earnings week.We didn't really cover any of this morning. We had Albertsons and state street, but, uh, tomorrow is the first, really big day of the season. Tomorrow morning. We've got Johnson, Johnson, we've got Proctor and gamble. We've got Phillip Morris. Uh, this is, uh, uh, whatever, uh, calendar, but Netflix tomorrow afternoon, United airlines, um, Yeah.Uh, Tesla later in the week, Snapchat later, Louis Chipola Intel, Verizon. IBM Southwest. You got like 50 freaking it's a bit it's a big week. Yeah. Um, Tesla, Netflix, Intel pay pal, some of the big names nap. So, and then obviously the next week we're going to get into mega cap tech. So earning seasons, and now we're getting in the thick of it.We're going to start getting in the thick of it. So it's exciting. Yeah, exactly. So I want to bring that on your radar. Um, and there was a couple more ratings this morning about we didn't that we didn't get to real quick. I, I thought I saw some more on the, pull them up in the pro right now, uh, or go back to it in the pro.We talked about us deal. Um, upstart. Those are the three that I have. Um, I thought I saw another one Disney upstart. Um, there was another space downgrade. Oh man. To sell. I saw that one too. There is a UBS down to solid space, SPC, 15 to 16 on space. That's what I like better than that's where I originally got in.Um, I liked the 15 and 16 area, so I think you've come this far. You might have a date with 15 to 16. So I think if you're buying at 19, it could be early. Just last thing I wanted to say was, I don't know if y'all been following, uh, the story with John Deere by strike the strike. I was reading about that over the weekend.It does not look good. For the economy, uh, the fucking, there was apparently a big strike in the eighties. Um, and this is drawing a lot of parallels to that. They had their office workers and the market shrugged it off on Thursday. So we saw this Thursday morning where they were really know the strike was happening and Deere was actually giant trained down $10 on that news.And we saw them by the dip on that huge level 3 22. So they were selling it right into major support. That was the low back from, you know, June and a lot of people, you know, even myself, sometimes poopoo the technicals, the technicals worked like a charm on the steer. The major support held you're coming back up now, I think on depths, you still buy Deere really?Yep. Wow. All right. You know, I'm very fairly consistently reps. I'm not even, I'm not even concerned what the company is at this point in time. It's worth buying the dip and sell the rep isn't working so well. I'm just applying it to everything you are. Indiscriminately buying everything, indiscriminately buying dips, and selling.Pretty much, unless it's like a headline, like space where I, I'm not buying the dip on space today. Wow. All right. All right. I'm going though, everyone. Thanks for a great chat here today. Keeping me in line. We'll see you guys, before we go into kind of the week's wrap up. I just want to really quickly put some areas on people's charts or radars.Specialty retail is definitely an area that I'd pay attention to. I know that we have our supply chain issues, but for some reason Amazon's looking really good for breakout. If you look at that last candle on Friday, actually really liked that candle. It's whenever I feel like some people were getting bearish on Amazon, all of a sudden has a strong candle.It could take off, at least I feel. Um, so Amazon's one to put on your radar. M E L I, I like that chart. And then if we go into smaller specialty retailers, like best buy Wayfair, overstock Ulta, Ulta is a really good one. The makeup maker is an all time high look at that. Whoa, what the hell was that? What is that?It's near an all time high from the, I'm pretty sure that was earnings. And so I'm going to continue to expect to see that one up. DKS B G F V. So those are some that you can watch and some industries that keep on watch right now. I like, uh, shipping to see if it's going to come back ups, FedEx. Um, you could also keep your eyes on department stores, KSS looking to fill the gap.Macy's looking strong there. Uh, trucking is interesting. That's an industry that most people don't pay attention to doing really well. Uh, U S a K is a name in there. And the name that I'll give to me for a laggard play is B E S T that's best. Um, diversify know either of these. There you go. You see, I got ya.All right. I'm bringing you some, some research that I did on the weekend. Uh, diversified industrials, not looking too bad. GE is my play in there. Um, I'm actually starting to like the play Spencer. I already lost money in G I don't need to lose more money in G. All right. So not a bad one for you then maybe look at the railroads for you.T R N G B S. TRN. And what was the other one? GBX. GBX. X. Okay. So those are some other areas that I've been looking. I've been seeing the railroads actually really break out. If you look at the major ones, you'll see they're leading, these are more laggard plays and I'm gonna see if they can continue to move.They're not the biggest moves you're talking about. Maybe, you know, the returns on these are like five, 10% versus like, you know, a big momentum stock that moves like 20 or 30%. But I do like the names and then an auto, um, this one's an interesting one. Look at race. Okay. I normally would never go out a week.Aren't you? I am going to a race. I'm going to Austin. Uh, Austin grand pricks. Nice. Um, look, look at that chart. That chart looks interesting, right? Yeah. Terrible. Maybe, maybe you don't look at the name. You just looking at the chart. It doesn't look bad. No, it doesn't look bad at. I mean it's Ferrari, right?It's it's, it's stable and steady. I think, keep an eye out. Of course, X, P E V N I O R. Also some charts to keep on. Watch. Just want to give you guys the research that I put in. So they give you guys some bad at the end of pre-market. Now I saw someone in the chat. I think it was tiny pine media, uh, um, bring up that interview that you'd been viral interview on steam.You see from, I think it was Friday. I, I started, uh, that, that guy mark commune. Ravini he pretended to break up when he didn't know what the answer to the question, which she's been on our show before. Should we, should we invite him on the show? It's been a while. It's been a long time, but he has been on, on the show, uh, once or twice back in the day.So one of the chat, if we should get the guy from the viral CMC segment, or try to ask him on our show too, if we think we should, we should not do that. But, um, Mitch coma through with some pictures. Uh, can't see. I like them all, but some of them at least were new for me. So thanks a lot. Uh, for that major, I'm seeing, I'm seeing some ones in the chat.Okay. Maybe our email, maybe, maybe I'll reach out to mark, like, Hey man, do you want to come all again on that? Or, or what can I ask you? What upstart does? It was pretty funny. If you can laugh at yourself, I don't know. You, not everyone can laugh with herself, unfortunately. So, um, that's the way it goes. All right.Here's the deal for today? Everyone. We are going to end this show here right here. Right now. Uh, Bob, we've got a, another, a full day of program. Okay. The cannabis Capra conference was the last week. It was Thursday and Friday. We're back to our normal stuff today. Here's the schedule of guy David Green going alive and around 10 or so minutes, but we're going to cut David Short today.David usually goes from like nine 20 ish, 9 25 to 11. We're going to cut David, uh, at 10 o'clock today. And here is why we're doing a new show today. It's going to be every Monday at 10:00 AM futures trading with ninja trader. It's going to be a half-hour show all about futures. Okay. We talked about futures a lot today, right?Vis-a-vis the Bitcoin ETF. Um, we're going to talk more about futures. If you know anything about futures or me, or even if you do, it's going to be a show to vote. To future, as we've got, uh, an, uh, uh, an expert from the trader on with me, we're gonna do a little bit of, uh, education. And also just more analysis right here is what the market's doing.Say he trades everything, any future. He trades at all this guy. So 10 o'clock Eastern time tonight, right here on this channel, future training with ninja trader myself, um, and, uh, and, and their expert. Uh, and, and it's a new show. We're trying something out, right? We're always trying new things. Uh, so that will be at 10 o'clock today.Uh, at 11, we've got SPACs tech and power hour. We've got a new one. We got power hour. Um, Matt Hammond from IPO warriors will be on then that's his new time is middle of the day, not 9:00 AM. We're going to do Matt Hammond, Alec 1230 today. Um, we've got Mooner bust. We've got at the close, we got money, Mitch.We got a full slate of shows today, or back to our usual schedule. So that's the plan. I hope to be back in the office tomorrow. We'll see. It's much easier for me to stream from the office rather than doing this, um, at home. So, um, thanks to everyone in the chat for the engagement as always, even the people that are not so nice.We appreciate them. I appreciate you. Um, yeah. How many likes we at rat two? Not even 300 likes. Can we get to three 50? Is my question. That's not a very high bar to clear. I think we can do it. Christian Gallagher hit the like button. Well, what was that image? What was that? Mitch? Uh, okay. Future show will be cool.Yes, it will. Local nine to six president. Yes, it will. That's the idea, right? The show devoted to futures. Not. Talking about the stock market or anything like that. It's just futures. It's education, right. It's how the market works. And it's also, what's the market doing? We're talking, we're talking stock indexes.We're talking Bitcoin. We're talking commodities. Right? All of it. All of it. So I'm just catching up on the chat. Okay, cool. Hit that like button. Please remember all the information from our show. All of our shows meant to be used as informational purposes. Only, not for investing or trading advice. David Green, going live in about nine minutes, nine and 10 minutes.And, uh, I'll see you guys back here at 10 o'clock Eastern time for futures trading with Benzinga everyone. Good luck at the open stay green, stay filled, stay healthy. Make that money. And I'll catch you guys in 45.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Tomorrow! October 16th Trading From Relationships! 9am - 12:30 pm EST ! Join Dennis Dick and Joel Elconin.Register here.Episode Summary:Friday EarningsGoldman Sachs, JB Hunt, Alcoa report EarningsVirgin Galactic delays its passenger launches SPCEModerna gets FDA approval for a booster MRNAOptions Expiration DateMNST,PROG,GS,SWX,MRNA,JBHT,AA,SPCE LIVE FROM NEW YORK! Today! It's BENZINGA CANNABIS CAPITAL CONFERENCE!Watch hereGuests:Tony Pawlak, Real Life Trading 35:00https://www.reallifetrading.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 TranscriptHey, good morning, everybody. Happy Friday. We made it to the end of the week. Got a great show today. We're going to talk about Carl Icahn's next target earnings. Goldman Sachs should be out just now as I'm speaking. Um, Moderna Virgin galactic in the news again and not for the greatest reason. So we'll talk about that and more.And, uh, let's get this show on the road here. Let's play that introcoming to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn, and here isn't it. And Dennis, I bet the penny, I will buy the stock for everything that you need to start your trading.Hey, Hey. Hey, how you doing everybody? Happy Friday. Welcome to the show. Spencer, Joan Dennis, here with you on this Friday morning, also an option to expiration day fun fact. I didn't remember that. Yeah. That's and Joel did. Cause they know, they know these things. It is the third, Friday of the month, which means options are expiring.So have that on your radar. If you have any trees that are going to expire today, or it's like assign you stock or w or whatnot, keep that on the radar. So we got earnings, we got news, we got activists stuff from Carl Icahn. We have a new guest today, Tony Paula from real life trading, which run the sort of 8 35 tells his story of what's going on, uh, in, in his trades.And then how he approaches the market. So exciting, exciting show. Everyone do me a quick solid smash that like button for me, please. It's getting up to 500 likes today. And before I throw it to Joel, we, our team mine is one day away. We're like 25 hours away. I didn't, I met my math, right? Yes, I did. 25 hours away from the bruh brunch with pre-market prep.We're onto a Joel and Dennis is what I'm calling it now Saturday. Tomorrow October 16th. Pre-market prep.com. I'll say it again. Pre-market prep.com nine to 1230, Dennis. Joel, Rob freezing, going in depth. Ominous strategies, not talking about, oh, here's this dog I looked for you today. I now teach you to fish to feed you for a lifetime.That's how the saying goes. I think so. There's that? Let's get the charts up on the screen. Joel. Good morning. How's your day going so far? Fantastic. Okay, great. Hey, it's the gym. Whoa. I hate the gym. I am. I am out of the water for six weeks. Oh, I am out of the water for six weeks. And so you were at the gym at like 60.Pumping iron iron. Yeah. The best movie ever. This is my dream. No, I, I w we, we joined, we joined a fancy one down the street because they have, they have, uh, they have a five lane pool, which I can't use for six weeks, but yeah. Had to change out my workout routine. So now at bad circuit training, I'm probably going to be a beast now, probably going to have to get some, have to get those shirts.I'm tired. I'm strong, man. I'm telling you he got some new machines doing the sidebar. I was sweating like a dog man, but just one good thing. I just want to mention one thing about the event and for the people that have either signed up for the first event or signing up for the second. We're going to have something special for you next month.And, uh, just a little bit of a teaser. Yes. Yeah. Just a little bit of a teaser, but let's look at the markets first and oh no, dad's saying of the day dads love complaining when the grocery store changes its layout. What do you absolutely. I mean, I do, I do that. I'm not a dad. I only do the peripheral shopping.I just go around the edge. I never really go through the aisles. I buy all the fresh stuff and then you got to go back there and like three days. Okay. All right. I don't care. Change the stuff in the middle. Don't matter to me, but don't move that stuff on the outside. Right? Just don't move the maple syrup, uh, futures, Joe, get Boeing off the screen.There all I have, I got bowling on the mind, uh, up 17 and a quarter handles strong, close at 4:00 PM. Mark really didn't represent the strength we traded up after hours. Um, Uh, pre-market low 26 and quarter. I don't know if we'll see that that's just below the clothes and I got no major resistance up here.Folks, really nothing up here until 43 72. And that that's not far away based on the average daily range or crewed up 82 cents at 82 13. And yes, crude is challenging the high of the move. I think it's right here. Uh, the high of the move adds made a new high. The move. The question will be, will be a double top 82, 18 82 30.Sure. Doesn't feel that way. When it was minus $37 a barrel, it was minus 40. Cause we thought the world was gonna end. I know. And I was trying to get me in rise. We're trying to get the water out of her swimming pools. Cause we were ready to take delivery. It would've been, I would've paid man. I would have paid the bills.I don't know if the liner would have really liked it, but would have paid the bills $82 now. Yep. And, uh, let's see gold dealing with 1800, just too much down in 19 bucks, 17 78, 90 silver slippers, but still in the 23 handle, a silver is down 19.70 cents a 2385 Bitcoin. All they're doing few, they're doing ETFs, buy, buy, buy, buy Bitcoin, a new high.It's not confirmed though, is it? They just haven't confirmed here. You know, we just had a step towards, and we have a rumor mill going and, um, and full disclosure. I don't, I don't spend a lot of time looking at, you know, the, uh, going out on the futures curve at the time curve and looking at for a further month features.But if you go look at the Bitcoin futures now in. January, they're turning out a nice, hefty premium to the spot price Bitcoin. Right now spot Bitcoin is around $59,000 is right. It's 59. We'll call it fifty nine five. That's where Bitcoin. That's a spot big corner right now. 59 and five. If you go look at November on the futures or January 6 61, right?You got a nice half the premium there. Yep. Contango Dennis, get all contango. Good old contango. All right. We'll see what happens on that theory. That's going the opposite way. That's down. Just a distance. Why is it going down big day yesterday? I don't know. They're just, I think they're just decoupling here a little bit.Uh, that's up. That's near, I mean, it's just a quiet range. Had a big day yesterday. Digested it, uh, down 3,800. Well, the future's 3,800. I don't know about the cash. 3700 3700. There you go. I think I bought it like 2100, right, bro. Pretty good on that Ethereum so far. It was a scary one though. I remember I bought it on the first step and then it bounced like to 27 and like two days.And I was like, I'm the best at this crypto trading. And then like a week later, it's back down to 21 and then it went under, I think, went down like 1900. I was like, oh, I suck at this. I'm back though. I'm back. All right. One thing about the cryptos is, you know, there's no gaps, right? The 24 hour market, you don't have to go going and going and going.That's what they're going to do in the U S markets too. That's what, yeah, that guy for the stock exchange, what was his name? We had him on. He poo-pooed that? What was his name? Your bunny Spencer from the stock exchange.I poo-pooed at cause I want to sleep, so I don't want 24 hour trading. I need to sleep. Sometimes I ever going to sleep again. I ended up my wife. Isn't going to be pleased when I'm trading 24 hours a day. I'm tell you that much. The fan kids won't like. Real fast, ticker fault on the cha asked if you can short the futures and by the spot and profit on the spread.Yeah. That's like an institutional things. The big boys, Carrie, and costs. You've got other things involved. I'm not a crypto trader. I'd have to analyze the reason that doesn't work. And, you know, obviously it's, you know, from, from a practical standpoint, in a lot of cases is the carrying costs of it all.But I mean, if you analyze all of that, I, I haven't ever looked at, you know, the futures are versus, you know, the actual spot on crypto. So maybe there is an opportunity there is, and there will be when we get an ETF and that's why there's so much premium right now. It's because the whispers are, as soon as Monday, they're saying probably not Monday, but a futures need to react down on Monday when we don't get an ETF because CF is coming.We know we, we feel like we know this. What we don't know is like a. Pure Bitcoin spot ETF. That ETF that actually holds Bitcoin. That's what we don't know if we're going to get yet, but futures, ETF, just like there is the USO, right? It's the same thing. Just different asset it's coming. We don't know when, but maybe probably soon probably.Maybe is it, should we tell, so there is actually, there's a, there's multiple firms. There's like three firms that have all filed for the same kind of product, basically, same Bitcoin for DTF. So, um, the sec has, has those filings and they're set to decide on them. They could approve more than one, I suppose, but, um, it's not gray scale.No. Uh, all right. Question for Dennis and I know he's going to get it well, w what stock traded at a level yesterday that is not seeing since February of 2008. 2008 got the six second goldfish where I can't even remember what was down yesterday. No, it is highest level audits. Highest level since February the weight.What got blown up in the tech or the fan bank? Uh, bank America. Yeah. Yeah. I see. Very good. Moving along here too. Did we get the Goldman report? Nope, I'm waiting on it. Come on, Goldman. What's so slow eight 30 a lot of times. I think. Let me check right now. I think it's going to be eight 30. Look at this.It's not even that you think it's going to an all time high here. I can go. They dip those banks right off the hop Morgan Stanley. They they're wicked, man. They like hitting every stop in this environment. And we've been talking about that. This is the environment. If you're using stops are getting stopped out on everything.It's a tough environment for stops. Cause they came down even on the bank of America candle and they brought that thing quite a bit down. Look at the big candle. It was red, 43, 48. We're like, oh, here we go again. And no, no, no. I buy them back up to the highs. So Morgan Stanley everybody's like, this is a great report.Why is the train down? Kramer's like, why is the train down? And it turns around and no longer trading down.Yeah, they came. I know, I think just one, maybe one big seller off the open or someone was waiting for more follow through. I've been, I don't know. But uh, so go. Goldman's not out yet. No. And I just looked, Dennis, usually it's out at like seven 20, really? Yeah. Bit of a delay this morning. Anyway, we have other stuff to eat.Is that good news or bad news? I don't know. Like the briefcase in the case of the Goldman Sachs report is late and now we have other earnings now we can just easily. Okay. Yes. They always, they always make like $29 per share the big ones I'll cough from last night. Yeah. I've told her last night are EPS $2 and 5 cents.Firstly buck 79, estimate sales 3.1 of us, $2.9 billion. And then they gave some pretty strong guidance. Well, they reaffirmed their shipment guidance for the year. Um, but they said, uh, there's very, very strong demand for aluminum in all and the market on top of that, they announced a 10 cent per shared quarterly dividend and a $500 million buyback.Um, Blow out quarter. And basically all they said was demand, demand, demand, demand, demand, demand is strong. Commodity trade continues to work with commodity. Trey's been hot, hot, hot. Um, you've had such a run, you know, is it over done? Probably my chasing it. No, but it's hard to get off the train. I think if you're on the train, you just keep, you know, keep that trend and what the trend to stay intact.You can see the wicked little trends since we bottomed in March of 2020. And we've been straight up since then. So as long as that trend stays intact, you're okay. Uh, ever since he got rid of a cross Kleinfeld remember Kloss Kleinfeld I think ever since they got rid of him, Hey, get assistant or reverse split it.Was it a reverse. Oh, that is a second offer. Arconic to our Connick. How long was that ago? That was a long time ago there and see 3, 4, 5 years. Well, I don't know if it was that long ago, but ARN. See, they had the river that they had the spinoff of that. And did they have a reverse split in there? I can't remember go Alcor real long, cause I don't think in long, long, long, long, very well.Oh, maybe not since the, oh, that's all you got. Yeah, I think that's when they spun off a RNC was back probably 20 16, 20 17. When the new Alcoa, they broke it up from the two companies and the new Alcoa came and yeah, there was a whole bunch of, you know, financial engineering going on there. So I'll keep it easy, simple and easy here.That's what we like. 52. What are you going to do? And now you got pre-market high just over there and still bid 51 86 up three sticks. Poked your head over 52, a couple of times, a fact, the other day, 52 45, you got room up to there. That's been the recent high, the move. So played up to there. That's a lot of games for Alcoa, but it looks, it looks like it's trying to hold in here.52 52 45. I wanted to have a bed out to try and buy it until it got into the lower 50 handle, uh, 50 0 4 was your hype yesterday session. And just show you how that trick works. Sometimes bank of America opened up 44 37 stalled came down. The top of the range was 43 64, boom, 43 48 and then turned it around.So, so what I'm looking and elk was Alcoa. Can't wait, can't wait to get over 52. And then we had JB Hahn this morning. Uh, this is sort of should be cranking, right? Um, well, yeah, I mean, yes and no, cause , uh, you know, we, we spoke with, um, uh, um, oh gosh, I'm blanking now. Um, we spoke with XPO logistics the other day on power hour and there were stages how insane obviously how insanely busy they are.Um, but at the same time, they're also hindered by fuel costs, by supply chains and things like that and, and rising labor costs. But anyway, JB hunt, uh, EPS beat a buck, 80, 80% bucks, 79 sales beat 3.14 for $3.01 billion. So beaten beat. I have not looked at the stock or the stock up on the screen. Okay. Uh, Trinity at the highest pre-market session, 180 2.I haven't, I don't know if you're getting into this area. 180 2 18 up to the all time high at 180 4 38, only 3000 shares have traded approaching an all time high. Uh, I find it ups. Where's the bid then it's just saying can't be bid up six bucks. Is it? It's been up six bucks, but one to odd lot right now.Okay. After all 180 4 35 off 180 400, it's pretty tight. It's a buck wide right now 180 3 34 is the offer. So they're lucky and up. They're like, you know, that's why it gets thicker up there as they're looking at that. But yeah, I don't know. We got an okay report again, you know, and people are like, you're chasing moves here.I still think you're on the wrong side of the traits. So, I mean, just as much as everybody was bearish, two days ago, There are bullish today. I think the backwards, I think you got an options expiration. You got a two day move, which is nice, you know, nice follow through from the previous days move, which is not unpredictable.We've talked about that strategy on the show. A lot of times too, you get a big move. Everybody comes home from their day. Job sees the big movements as I want to get in stocks and gets the fall through the next day that fall through the next day as a selling opportunity. But you know, here we are, we're up hundred 20 handles where we were two days ago and that's over half of the move from the entire last month.So again, You know, I I've been saying long-term. I think we're going to make the all time highs by the end of the year, but I'm not buying on a day that we just ran 120 points in two days. So I'll wait for the pullback again. Cause I think it'll probably give me another chance, just as much as your gold trade Spencer.You're like, am I, did I miss it? Did I miss it? Hey look, you didn't miss that. You get another chance again, giving, giving chances giving chances. Yeah, no, you were right. I, I thought, I thought you were probably right. And you were, you were, um, Chris was asking, have I done anything other than buy a dip and sell the rip the last month?The answer is no, that is what I am doing continuously. And you know what? I'm getting paid for it. So I'll continue to do it until it doesn't work. I will say this year, because there's a lot of people who are really, you know, saying how I didn't say everything wrong. I'll just say my P and L speaks for itself.This trading year is my top trading. You. Well, last year was pretty good too, but I'm on track to possibly beat last year. The last two trading years are my best two trading years in 12 years. So the trading environment has been excellent. Excellent. And you know, I like fading. I love the type of market that, you know, it's, it's forgetful and just goes up and down, up and down.So you know why, because nobody else long-term investors are going nowhere, but just trading European, Al's going up. So you are relatively getting better off than everybody else in that environment. A little promo here. If you want to learn a little bit more about how Dennis Dick trades come on over tomorrow, the voice is 16th.Yup. And you know, the thing too is, is that you give a, like, I could talk, like I could just tell in your voice, like I'm looking at the chat and you know, the little, you know, they're like, you know, the little Nadler's out there, you know, they write, they write stuff down that we said like six months ago and I got a whole stack of thing.Yeah. Oh yeah. They're going to write down because if you don't like us and either in the media, you got people like you and you got people that don't like you, I mean, Kramer has so many haters, you know, I'm like 1% of that, but you know, I still have, you know, people reach out to me every single day to tell me exactly what I said wrong.I mean, if I say, if you make 10, 15 calls on the show, the odds are, you're not going to be right on all 10 or 15. You're probably, like I said, if you're batting 52% here, if you are like a casino and you have an edge, that's 52%, you will make money in this market in the long run. So all I gotta be right is more than I'm wrong.And you know, what, if you're actually cutting your losers, you can probably be wrong more than your rates. Yeah. I mean, we're going to say stuff. That's right. We're going to say stuff that's wrong. We're trying to make calls. We're trying to give trading ideas. We're trying to give some strategy as well, but we're not gonna be right all the time, but I've got the haters out there that write down every single thing I say.And then they're quick to point out every one that I do wrong. They never say what I get. Right? Like it was listening to some of these Twitter followers. They'd be just like, you know, you think you lose on every single trade. They're like, no, the one guy had to actually block. I never blocked anybody on Twitter, but he was tweeting at me twice a day to let me know exactly what I said wrong.Today's is you're the contrarian indicator in the world. I just do exactly opposite to what you say. And I make money. I was like, that's amazing. I mean, the micro much just be printing. I make I'm making, you're making money this month. I'm making money this week, but somehow the person on the other side of my trade is making money topart of it's human nature. Uh, I mean, we all do it. We all focus more on the negatives that it could be our own too. Like we focus more. I think the losses hurt more than the wins feel good. Right. So we focus more. We complain more about the negatives, even if you're right. Seven out of 10 times. No one, no one on Twitter.No, they all know. You don't. I mean, that's the thing too. And, and I'm getting to the point where, I mean, I'm keeping my stock, I'm keeping my account, but I just, and I know you say I overdo it with the fakes and the bots and everything, but there is so much be ass in fake people out there. And you can tell they're just like algorithms and they're just coming up with like, you know, just thousands of trades.Oh, this, I said this and, oh, I'm, I'm not watching this today because I'm at my pool. Um, and my boss Roddy's getting delivered at four. O'clock like. Like, okay. You're fake. You're not a real person. Maybe that's what our problem is. Dennis is maybe we're too real. Maybe we admit our mistakes, you know, maybe we should just be other than usual.No, we shouldn't. We should be fake. We should be fake. All right, wait. So we will cover Goldman Sachs when it's out. Uh, oh, wait a minute. No. Yeah. It's not out yet. So, Dave, you're not a bot. I know you're not a bad day. Right? We have a lot. We have a lot of people giving us love and the tattoo. Okay. We like everyone.We need to keep that. Keep us honest too. We don't like everyone. Okay. Virgin galactic. We'll go back to call me when it comes out of space. Virgin galactic has adjusted their timeline a little bit. They, as a result of that, they have delayed the. Uh, of their commercial flights to, uh, Q4 of next year. Um, they just said they, they found something that needed a little bit more assessment and more refurbishing.And so delaying the eventual space flights of, of, of paying customers for, um, it wasn't even deleted by that long, honestly, I don't think it was deleted, supposed to go one it's supposed to go and Q2 or Q3, and now they just delete the Q4. So not even like the biggest invest in this company. I mean, I bet I know you did.You liked the story, you liked the story. The story is ice cold now just like space ice cold up there. Uh, Joel, here's my problem. And this is why after that flight and I set it on that show, you know, back in June, when we had the successful flight, I was tweeting it out. That that was possibly going to be the topping event.The thing that I didn't like about it was, I did not know you were going to only be up in space for 90 seconds. You know, same thing with blue origin. I mean, you going to pay 360 grand. Some people are paying it to get that 90 seconds put me up there, put me an orbit, put me, you know, make something, you know, something up there for 90 minutes.I can really enjoy the experience. All I'm getting is, you know, the, the crazy rocket ship ride. And then I get to, I got out of my seat for literally three minutes. Look out the window a little bit, and then it's over. I need, I think for $360,000, I need to get you up there and get you an orbit. Like, I don't know if that's possible, but you know, your orbit around the earth, like the international space station does 90 minutes.I mean, that'd be. So, I don't know. I'm kinda disappointed. I did not know. I didn't know they were going to like, I guess you just got logically think about it. Maybe it's not that easy to do to put you in, or, but, but 90 seconds, isn't that long up there to see it for 360,000 bucks. So that's what turned me off with that being said, the stock is epically massively oversold.It is been hated for the last three months, from basically 58 bucks all the way down to 20. Now is this a capitulation event? I mean, I never buy stocks, making new lows and it's making a new low on the move. But you do have memory in the 16 to 20 area because this is where we were in April, may, June, July, 2020.We were there in October 20, 20 back in April, we got back down to 14, 16, I think has all kinds of memory from 15 to 20 on this stock. I may have you buy a 20 maybe early. Um, I have no position in, I've been out of it for a long time. I think there's probably a bounce opportunity in here somewhere. It's a tough one to call maybe a wait till stops going down.But then in some cases, you know, they only give you the one shot and then just starts bouncing. Like Domino's pizza yesterday. I must've been another bad call by me cause it was down 20 bucks. And I said, I think they buy this dip. I said it twice on the show, but I was wrong. They bought the dip, but I guess I was wrong somebody to point that out.But anyways, DPA, zebra ended up closing green yesterday. I'm not saying space is going to do that. It's I don't think there's a chance to close is green here, but is it oversold? It is how much cash do they have? I think they've got the P the prepays and I don't think they've got a cash problem here. I don't think it's like going under Juul.Is this really got, you know, won the valuations, probably excessive. What's going to turn it up. What I mean? Oh, well now, I mean, are they going to come out and say the opposite? Like, oh no, we're going to be in the middle of 20 to 20 $515 million in cash on the balance sheet.Sure. Okay. I mean, I, I, I liked it. It just caught me and put me in an orbit, 15 bucks, put me in orbit, I'm buying this space. One that puts you in orbit, like gives you the 90 minutes you get out of the ship, you know, like I be cool. I wonder if it's hard for the stewardess to serve cocktails. Um, I noticed that everything's flying around, interestingly enough, the other space, um, uh, Astro, right.STR is trading higher on this news, which I guess would make sense. I don't know what it makes sense if it wasn't for this show, I would never look at these stocks.I want it, if it wasn't for you guys and wanting my technical wizardry, which is, if you do the opposite, you'll make tons of money. We, how we're all worked up here, we got to stop thinking about the haters. He stocks are all bought. I'm going to shine on Joel, these stocks or bonds. They're not real. I G S out, do we got TSL?It's up? It's up six box. Forget it. You guys keep looking at the tourism. It's all about satellites. What? Give me a satellite, butthe one I've been calling, I know you've been following max years. Now. Problem is to come back down now match. So do 30 marks institutional accumulation. Look at that 30 mark, like max are here. Well, I've traded this one and I trade it too. I'm in and out of it sometimes, but I haven't had it for a while in the long-term portfolio.I kind of want to rebuy it. I mean, yeah, yeah. Yep. Okay. Wait, can we, can we go back to Goldman for a second? Let's do it all right. Cause Goldman's out. Um, they print money as usual earnings per share, $14 93 cents for a say $10, 11,000 estimated. That's a low estimate sale of 13.6, $11.6 billion. So a beat and a beat.Um, they, what else do they give, come out with extra equities trading revenue was higher. IB revenue higher, um, than expected. Yeah. I mean the stock is higher, so I dunno took awhile. I don't nothing. Okay. I don't know. I just thought, you know what, that actually might be the, what was the EPS? Um, Now I know.Let me checking the calendar here, CPS in a minute. Uh, we're training 3 98. We got anything at 3 98. Um, anything worthy? Yeah. 97, 85, 3 98. That's my number 7 85, October seven tie. You just treated over it. You're back off a buck off that 3 98 above 3 98. You're cutting it out 400 next daily high. After that as 404 21, we just got retail and sales and they weren't bad.That's all you need to know their empire state index. So that looks bad. 19.8 versus 26.5. Okay. So I just saw what meaningless data, but anyways, let's see what Goldman can get above 30 cent wide. And I canceled everything cause I was like, do we have a number we're not ready to see spy go 30 cent wide.You're like, oh, it's something happening here. Did I miss. Oh, look at this. You got halfway back to on this move right at 3 97, 3 98. So that number is good. It's good. Not only for today, but it's good for the next six months. I've been wondering for a while now, what is Carl Icahn been up to? Well, now we know is DD on Southwest gas.Take her ass X, published a letter yesterday, uh, being like, Hey, open notice to all SWX shareholders. We're. Okay. We are going to initiate a tender offer and proxy flight. We want some people on the board and that's the uncle. Carl. We know always putting out those fake offers, tender offer a $75 a share. I always does that.That's a way its strategy was for those just starting like six, seven years ago, when he was a younger, he come out twice a year, he'd be long the stock. He was like, I'll buy the whole company for five points higher and then the stock would pop up, but he's just kind of shooting his mouth off more than anything.None of it. Usually he actually has bought some companies, so he can't do it, but it's always, and who is the other one? Remember the best by a CEO. Joel, I kept doing that to the old best buy Schultz. Charles he'd come out. When the stock was going down, he's like, I'll buy the whole company for 20 bucks a stocks at 15, and then it'd pop up and then it'd go down like 13.And I would buy the whole company for 80. He ended up being right. He should have bought the whole company. He'd make some money. Uh, I don't know what's going on. I mean, you got to pop a little move coming off the low, the move and ham with gas. And I don't know, this shit is not exactly been moving with natural gas, but a 72 bucks.I mean, I don't know if Carl has any offers out there at 72, butsaid that her, can you take, I don't, I should not say that about Carl. Yeah. Uncle Carl went like you saying that he's not coming on the show. If you say that, have we ever tried to get Carl Icahn on the show? Brent talked to Kyle Brent and had spoken on the phone to Carl yet. We should be able to get uncle Carl on the show.Yeah. Yeah. It's been a minute. Yeah. I saw a TV the other day. No, her Greenberg herb was on there. He actually was moving that one stock to Herb's good. He got it. I follow her a bunker. Hey, Herb's good. He was pitching, um, oh, what's dark good RX. And it popped big time on his pitch. GDR X look at the big move.Herb's a mover in a shit. Perfect. We can get her. No, you can't hurt her. Not trying to get us fired out about her five years ago. No, he didn't. He, we, you, you did it. You all, it was your fault.on this story. I follow her. We liked her. It was the intern's fault, but I was always seeing the intern. So I'll take the blame, whatever was sent to Joel, he ended up saying the company's name wrong. And that sucks when somebody would come on and he say your company's name wrong pissed me off too. We don't know whose fault it was and maybe it wasn't our fault, but we got the blame for, we can get her back, get her back.I like her. I actually do. I really like to do like her paper, even though he was a little mad at us. When he, when he was mad at you. Cause you got the name right after the show and then Jason is good. Okay. That's we're not going to go into politics too much though. Let's say it's 8 35. Well, it's pretty on today's guest.It's brings him sanity until this show. Tony Paula new gas from real life training. Or I see him here in the background. Uh, man, I I'm working on my Newsome beard. It's coming maybe another 20 years. It might take you a minute. Real life straightened shirt on ready to rock and roll representing. This is my life, man.I don't have pants on, but I got the RL shirt every morning. We're ready to play so adjustments. I don't think Dennis never wears pants, so it's okay. No, I just that's the life. Everyone dreams of. Let's be honest. That's the goal. All right, Tony, tell us about, tell us about your training. Tell us about, you know, your strategy and sort of how you look at things here.Yeah, man, I think you're first off. Thanks for having me on, um, I'm with real life trading, I'm a mentor and coach there. So I lead the day trading class, um, every morning. Talk about the set ups. Talk about how to day trade, but I specialized in option selling that's that's what I do. So, um, real life trading is a stock market education company.We've been around for years and years. And I love your conversation today because. There is so much fake out there, right? There is so much Lamborghini roll-up hisses. You can just make a million dollars with a $3,000 account and let's do this thing. Just pay me 10 grand and I'll show you real life trading is real life, right?So you're going to get on you're in to watch my screen. You're going to watch me day trade with 55% win rate, which means you're going to see me lose all the time, but I'm going to be profitable. And you track that 55% win rate. And that's a great win rate for the industry. So there's no 90. If you got a 90% win rate means you're not taking your losers and you're sitting on all those things, hoping for the stock to come back.Exactly those 10% of losers are going to be really, really big. So you can have a 90% win rate, but those losers you have are going to be huge. And that's what makes my strategy really special too, is because I sell credit spreads. When you're selling options, you can hit those 80, 90%. I'll show you why I'll show you how but day trading, anytime you're going along direction, it requires you to be perfect on the timing and perfect on the direction.Right? If it doesn't go up, you're not going to win. And that's why a 50 honestly, professional traders are hovering around that 50%. It's just a matter of controlling your risk and making your money right. When letting those winners win to offset your losses. So yeah, real life trading where stock education company been around for a long time, um, pride ourself in being authentic and real, you can, you can pull up our website, check out our trade results and see our win rates.So tell us about your, your strategy. Yeah, my strategy, man. Well, with that, I guess for, for 30 seconds, let me, I'll tell you why I made the strategy. So I was one of the, one of those people that kind of knew what I was doing in the market. And I was like, you know what, I'm quitting my job and I'm trading full-time, let's do this.So I took $30,000 already. It's like, oh no, you know, the story took $30,000. Quit my good job. And I was like, let's do this thing. But for the first time in my life, I had to make like five grand at the end of the month to pay my bills. You know what I'm saying? So I would take a loss and I'm like, all right, well, I've got to double down now.And I got to try to make, I don't make six grand now. And I just fell apart. I blew up my account. We were burning through savings about six months into this. And we legit hit zeros across the board. In our bank account. We were in Walmart and one bill ran it overdrafted into our savings and we were done.My wife's like Tony, you get a job or you figure this out. So I crawled to the bank like that day, I begged them for money. They gave me 15 grand. Right. And I don't recommend doing this, but this is what I did. And I was like, I have to find a way to start making money in this, or I'm back to a real job. So I developed a plan around credit spreads and it was a short-term.And that week I made a thousand bucks and I was like, holy crap. Finally, the next week I made $1,500 and I averaged about $1,500 with that $15,000 account for the next year and a half every week. That's impressive. Um, I was doubling my account on average every two to three months, and that strategy has held those results ever since.So I average anywhere on my low end 300% to the high end, about 600% ROI each year with this strategy. So it's become my mission now that I've joined real life trading to teach this strategy to as many people as we can. Right. But my goal is to have a hundred people replace their salary. Um, this year I'm at about 85, 84.Well, that's good. I'm close. And, um, I have a masterclass that we just came out with just recorded that last week. Um, And I'll get into charts here. I want to explain a few setups that we did this week, and then a few that I'm looking at for next week. I would love to go over the charts and show everyone how to do this.Give everyone a free little fee. Second thing. I don't have a ton of time, but yeah, my strategy is based off of a shorter term length credit spread that has very specific rules, very defined risk, and a very strong hedging plan. So if I am wrong, I'm able to turn that loser into a winner. So, um, yeah, that's, that's basically how I've been making my money.That's how I've been paying my bills. I'm still a full-time trader and this is still the strategy that I use to pay my bills every single month. And you just set up a trade example for us. Tony, let me share my screen real quick. Yeah, let's do it south, south, south portrayed. Cause we're, we're mostly equity traders here, stock traders.I used to trade options 15 years ago. I don't trade them as much as I used to. So set this up cause we have a lot of option traders in that chat room. Let me see if I can't get. Let's do this thing. So I'm going to go over a few spreads that we did this week. Okay. Or this one actually started last week on the SPX.We are about to hit payday today. Honestly, our targets are gonna be hit this morning on a pullback down into here, we sold the 4241 90 bull put spread again. You can see my clear alert level. So my strategy is based off of location on charts and using price action to our benefit. So I can use this higher, low here.I can use this strong support to gauge sentiment. If we break lower, I can hedge and offset my losses. If we hold this support, I can now, you know, um, I make money on it. And the cool thing with credit spreads, if you were to buy calls down here, it has to go up, right? It has to go up to make money with credit spreads.As long as it stays above this area, I make. Stay above my sold strike on a bull put spread, so it could go lower and I make money. You can just hang out sideways and I make money. It can go up and I make money. And that's what gives me that 90% win rate. You don't have to be perfect. You just have to not be dead wrong.Right. And I do lose on these by the way. All right. I don't have a hundred percent win rate, but it's it's. So when you lose, how much are you losing? Are you, how do you cut those losers? So, because this is what I see everybody do wrong in the options world. And it's been a very decent environment if you do.And just on the bullish side, cause we've been in a straight up market for basically a decade, but if he goes back and if you want to see a different environment for this strategy, if you go back to 2006 and 2007, this strategy epically failed during the financial crisis, how do you not allow that to happen if we got into it an actual market that started to fall significantly?Yes, for sure. So when I lose, so on average, I'll string about 20 winners together and I'll have about two or three losses at the. And then I'll string about another 20 because I lose when the market drastically changes direction. So let's say on Monday, this market gaps down to 4,200 on the SPX, we just rampaged lower.I'm going to lose on the spread, but unless you're holding it until expiration, that's the only time you're gonna lose max loss. So for me, I have a hedging plan in place, but if I'm not able to hedge, I'm gonna lose about 30 to 35% of my max loss. Right? So I'm able to lose small simply based off of math because this bull put spread also has a long put in it that helps slow down that, that loss, that I'm cause it's actually gaining value as it goes lower.It's not offsetting what that short strike is losing. So I'm going to lose about 30 to 35% around my sold strike. And that's where I'm out. I don't hold below my sold strike. I have very specific rules of what to do if it gets down there. Right. So I'm going to lose about 35%. So I will lose when the market makes drastic changes.Okay. My, one of my rules are I, I only sell with the trend. So if we get below the 60 EMA on a weekly, I'm doing bear call spreads now. So I'm waiting for big dip, lower, big dips down, and then I'm waiting for the retest back up to where resistance. And then I'm selling up above again, using resistances to help me to hedge, give me something to read sentiment against so that I know when I'm needing to head in when I'm wrong.And then in writing this thing back down lower, and I just do it again. Right? So that's what I would do when the market decides to reverse and go lower. I will get my butt kicked on that initial change. That's normally what happens. And if you look at my trade journal, so again, you are to, um, real life trading.com for slash credit dash spreads dash live.You'll see a chance to sign up. Uh, I teach a full masterclass, walk through every detail of how to do my. But you can click here and download my trade log and it'll show you all of my trade. My official trades, these aren't all of my trades, but the numbers are exactly. I mean, this is probably about 70% of the trades I've taken over the last few years.It'll show you every setup, every sold strike I've done. And an example screenshot. So if this is too good to be true, I mean, you can see my results. Um, you'll notice that, um, in March markets kind of change February, I'm hitting some losses and then you string together quite a few, probably a few wins.These losses were almost break even losses for my hedge. So, and then when working around were up 437% ROI. So you'll see again, it's not a hundred percent win rate. Nothing is by Tony has a few questions here from the chat, uh, I guess, uh, trying to remember a bunch of them, cause chat's moving fast here, but, uh, what is your Delta?I sell based off of mainly charts, mainly supports and resistances. I will usually always be below a 25 Delta when I sell that. That's pretty consistent with that. How many trades a week you put on, um, an aggressive trader you can expect to probably do about 10, 20 trades a week. This is about the setups that are there in this current environment.Back in 2021, I was through the roof. There are so many setups, your account couldn't handle it. Right? Um, so I would say on a good week, I'm usually averaging about 10 setups, 10 trades a week on a slower week. It's anywhere from two to five on a slower week. And then if the IB is low, I'll start to go out a little bit further.I'll go out a month or two, and I'm always having something on paying my bills. It's just, those we'll have to wait a little longer on and I have different rules for those. Again, the masterclass will teach you all my short-term stuff on my long-term stuff, how to hedge them, all that good stuff. Um, but yeah, that's how many trades I have on, and I average on a good week, I average about 10% ROI each week on a slower, on a slower month.I average about 10% ROI a month. So the weekly is your silent Tony, is it mostly weekly? Is your salary question actually. Yeah. Yeah. So again, I, I have a strategy. It is a lot of the weeklies in my strategy. I have my short term stuff, which is two weeks or less. So I'm either selling the current week with very specific rules or I sell two weeks out, um, again with some specific rules.And then the rest of my spreads are around 30 days, 15 to 30 days. On average, especially this year with the IB dropping off, it's been a lot more in that 15 to 30 day range that has. Well, what type of trader would you say is this strategy right? For, in terms of account size, in terms of, um, uh, ability to, to babysit, um, and tie and spend time in front of the screen, um, risk tolerance and all that.Yeah, for sure. Awesome questions. Um, account size you're looking at, I recommend $5,000, usually on the low, on the low end, you can go lower than that, but I'd say $5,000 account pattern, day trading rule. I'm not day trading. These, you don't have to stress too much about that. Most of my students have about a $10,000 account.Um, and like I said, they average about 10% of that a week with that $10,000 counselor making about a thousand dollars a week on that small of account, which is insane. But, um, so, and it could be a relatively small account. It doesn't have to be a hundred grand to make those results. Like I said, I was making 1500.About a $15,000 account each week. So, um, and that's held true that strategy pretty much keeps going. Um, let's see for, you need to have a basic understanding of knowledge of options, right? Um, nothing too intense, as long as you know what to put in color. Um, there's tons of free videos out there. You guys do a great job, um, just with market sentiment and all that stuff.You need to understand how the markets work, but don't feel like you have to be like a master in super profitable trader to do this. If you can understand how the markets are under strand that learn this strategy, apply it. You can pay per it. You can do it with one account. If you want start out small is what I recommend.Um, it's, it's geared towards anyone that is looking for a little bit more freedom in life, but to replace their salary. Honestly, I spend about two to three hours a week finding setups on the strategy. And then the rest of the time I have alerts, I have an indicator that comes along with the masterclass as well.That alert you want to set up. Based off of a specific parameter. And so that alert will go off. You can go and set it up on your phone if you want, whatever you want to do. So my whole, my whole point with this was to provide freedom, right? My last job, I worked 70 hours a week. Every week I helped run a family business and I was like, I am, I'm done working for money.I'm done spending my life working. Right. So the last thing I wanted to do was have another full-time job in trading. I wanted to trade full time, but not a full-time job in trading. So this strategy again requires probably a couple hours a week and you don't babysit it at all. Um, in fact, it's better if you don't even look at it.Because like I said, here on my screen is you win. As long as it stays above your, your sold strike, you win. So who cares if a big old scary bear candle comes in up here, this is where most people freak out. And if you're watching it, you freak out. But you forget that you win as long as it stays above this by expiration.So this has got two weeks to break, tons of massive supports. And by the way, we have a hedge plan in place in case it does. So you can offset your loss, the hedge plan. That is key. It's that hedge plan, because you do see this, you know, and other traders that are just right, you know, naked putz, naked puts naked plates, and that works awesome.But it's that hedge plan that is key because you will get an American environments, you will make a bad call and you don't want to let that one in all of a sudden you're, you're, you're on the wrong side and he let that small loss become a bigger loss, but it's that hedge plan that is key. Exactly. And it is in controlling your emotions, being okay with taking the loss.And it doesn't matter what strategy you do. If, if you can't manage your risk and if you can't control your emotions, you're not gonna be profitable, right. This strategy is an incredibly successful, but you can find a way to screen. My strategy means getting out around my sold strike, taking that 30% max loss, 30% of my max loss loss.Right? So if I risked 5,000 bucks, I'm going to lose $1,500. If you're not okay with that. And you say, well, maybe it'll bounce and you turn that 1500 into a $4,000 loss. Well now, instead of making, I can make up 1500 bucks in a week, right. And then a couple credit spreads. But if you blow up and lose four grand, that might be a whole, you know, three, four weeks of making up one loss.When you should've made that back in a couple of days, a couple of trades, maybe a week and back into the green. So controlling your emotions, controlling your risk, the strategy walk you through all of it, but it still requires you to have an understanding of the markets, a basic understanding and control your emotions, like any other strategy out there in the markets.Um, and just before I let you go, uh, here, um, Tony, just give this a real life trading.com. W which course is it that, that, that you're doing? Yeah, this is a masterclass. We actually just taught it last week live and you can purchase the recordings. So they're in the process of being edited right now. So you'll get the raw footage right now.You're welcome to purchase it next week. We'll have everything and it's not going to be really edited on the content. It's mainly going to be broken up so that you are like, oh, I want to remember how you talked about hedging so you can easily find the hedging instead of having to watch the whole video.So that that edit will be coming out. This is with the options or is it the it's different now? It's, it's actually the credit spread masterclass. So RLT credit spreads is what it's called. Okay. Um, website for that is real life trading.com for. Credit dash spreads dash live, and the course is 4 95 last week.My average student made over a thousand dollars the week after the masterclass. So we've already gotten tons of people that they've already paid back. This, my whole point of this was I want to be able to in three credit spreads for you, if you're doing the smallest of size and just a handful of credit spread to be able to make back your investment, this wasn't meant to break the bank.I truly, again, in my mission, I want people to enjoy that change that the market's bringing it's possible with the right strategy. As long as you can control your emotions, follow the plan, don't go outside of it and stick with it. But yeah, RLT we've, we're growing like crazy, right? We've got RLT Australia, Denmark.Now, um, UK has their free week, October 25th. So you can hit those up free week for RLT UK. Didn't realize you guys were international. You've gone global. We've gone global man. It's it's exploding. Once people realize how authentic, you know, this company is Jeremy Newsome builds that you can look him up.Well, we, we, we, we know Jeremy he's been coming on for, for a long time. Uh, big fans, big fans, Tony Paula real live trading.com. Thanks all for coming on today, man. W got some great feedback in the chat. Thanks so much, man. All right. Hey, it's 8 53 and I saw people asking about Marcus. Um, Marcus apparently as was communicated to me is overextending himself.Does can't come on the show right now is what I was told when he can come on. I will tell you, I mean, maybe I just won't tell you, maybe I'll just surprise you one day. Um, we, we, I ha we have an open dialogue with Marcus, but that's that's all I can say is he's, uh, I hope he can. But, um, I, I let's talk some stocks with do a few minutes.Let's do a few minutes of ticker time. And then, um, obviously we're gonna promo our big educational event for tomorrow. Yeah. Yeah. We'll do some job particular exam. Let's go, someone asked earlier on the chat, but I, I, um, it, the, the job has to attend spot and I, I, I think wash, read Viking. Uh, can you clarify what the ticker was there?Were you talking about, um, it was like pro pro JT. You is P R O G I think, is that the one you're talking about? I'm not quite sure that, so I don't want to do the wrong clarify. Clarify your, take her for us. Cause I'm not quite sure what you're referring to there. Uh, okay. More tinker and chat. Um, uh, oh, Madonna, Madonna.We should hit on that. Thank you RX. When you're anticipating higher, because they got the, uh, the okay. On their booster shot. It's not that easy for Madrona because now you have an overhead supply issue. I still like the company. Um, it's been a valuation issue for me, which is why I haven't owned it. Three 50 though, was old support.That becomes new resistance. You're only 10 bucks away from there. I think it struggles to get through there. I wouldn't be a buyer of the rep. Excellent. Okay. Let's keep going back and forth. We don't have much time. We're going quick here. We want to go look at Western union. That's the one we haven't seen a Joel there or we lose Joel.No, he's here. Joel. WVU. Probably G's on mute. You're on mute. W you shy about that? But the old me to trick, uh, Western union, it's still around. Let's take a look. I go, go, go. What? How one foot I did. I did you hold on, hold on. Uh, we'll see what happens above 20, uh, 21 here, several eyes breaks about 21. You got some room to go very clear on the chart.Okay. AMC, we talked about that yesterday. Bunching up. I think it's still a nice day yesterday. Yep. 42 resistance. Yeah. Okay. Uh, thoughts on any of the criminal miners marrow or riot? Well, they both got a rating by ratings today, so, and they have been in the gutter. So it's not surprising that they actually are showing some life here.I had some, a couple of day trade or overnight trades on. I had an overnight train ride. I've already sold it so I can freely talk about it now. Um, I bought off the rating, so ran a Bach. I mean, there, it could actually, um, these are in the gutter, so maybe this gives it a vote of confidence. Obviously a Bitcoin trading higher too.Doesn't hurt, uh, 45 for your older 45. That's a breakout on the monthly statement, right? I was talking was in the gutter, but right. It's shown that before. I'm tying why, I wonder why companies close enough, but you got a complete separation. I pair trade. They used to penetrate these things together and it has been working as well lately because right.It's not going up at Marez. So there's some separation happening there. What about monster? This one was, this thing was a monster for a while. It's falling, probably margins here. I mean, you know, input costs. So which we talked about, there's a lot of food and beverage companies that are getting squeezed with higher inflation and the input cost.I'm not sure if that's an issue for monster, but when I look at this chart, that's what I think. Uh, you better hold here. You're going to get a look at your March 21. Ooh, the March of 21. Oh the 80 to 96, just hanging out on monthly support and not getting away from let's just look at PRG. Cause this is the one that we got at Penn spot for, um, R O G I R O G.They got a, uh, a buy rating yesterday from HC Wayne. Um, so maybe I feel like I traded this step. Some insider buys in the last, like couple of months, I feel like I've traded this a couple of times. I don't know anything about the company, but I feel like I've bought it for some reason. I'm wondering if there was some insider buys, but, um, it, you know what it's shown, it's got some life going, at least, you know, the overall trend is still not your friend.I don't know what the reason is. It's run from a dollar to $2. So I don't follow the company. I'd say as long as you're above like a buck, 94, the bulls are still here, but you are bunching up and you don't want to start seeing it, getting to that. You know, that, that candle from the 11th, because they're up really fast.So they want to see it stay above the low after that. So when I'm trading something kinda got like a flag going on, you want the stock to stay above the lows from those previous days. So you want it to stay above a buck. 94 below a dollar 94 would be a, would be a. I inside day to lower highs. You want a bus that I had the support.Dennis mentioned one 90 to two, as far as like any politics or anything going on with the company. I don't know. But inside day yesterday, two minutes from the show, guys, go ahead. Tell the people why they need to go. To brunch with you tomorrow. Well, it's it's it's so it's our educational event. Bring it back on and go to pre-market prep.com to sign up.And it's trading from relationships. We've got me, we've got Joel, we've got, uh, Rob Friezen, who is the, uh, he's the president of bright trading company I trade stocks for. And he's going to be talking. Relationship-based trading as well, basket trading, different stuff. I'm going to be talking. I put both of my presentations together.It's all new material. I've got them, uh, together. Um, I've put them together in the last few days. So I've got a number of topics I'm talking about. I'm going to be jumping into risk arbitrage, which is merger deals. We'll be talking different types of arbitrage. We'll be talking classic pairs trading. So if we don't understand it, we'll start with the basics.I'll talk to you about evolving and some dynamic pairs, changing relationships. And then I'm even going to talk social media stocks and their influence, what they've had some influence, you know, These relationships. And then also just talking social media stocks in general and telling you, you know, about the boom and the bust and looking at high short interest stocks and you know how you can play these trends.So always looking at relationships, not so much directional bet. So if you're a, one of those people that are trying to say, I think the stock is going this way. I think it's going this way. A professional trader isn't worried about where they think it's going. They're worried about the relationship is this stock price correctly to where it should be relative to this stock.And there are a lot of relationships out there right now, you know, like GNO G and, uh, obviously DK, N G D Kanji is buying GNO G if you bring up those two charts, they were virtually identical, but there are times, especially on an options expiration Monday, where those prices can deviate from each other in the short term as professionally trying to take advantage of those deviations.So you're struggling with directional. I mean, this is, you know, maybe, you know, a good alternative to look at because I trade what's called market neutral. I'm not betting on direction. I'm betting on pricing, any efficiencies becoming efficient. Again, what time someone asked me to chat at 9:00 AM Eastern tomorrow 24 hours.For right now, can you believe 9:00 AM free market prep.com. Just go there. So people are continuing to ask for the link. So if you go to pre-market prep.com, you will see the banner click it. You can see. It's 99 bucks and you get me Joel, and we'll be answering questions too. So we're going to be doing a lot of Q and a as well.So, and Rob, I've learned a lot from, you know, Rob freeze has been one of my mentors for a long time. You can learn a lot from Rob treasonous. Well, all right, I'm going to teach everything. I taught dentists the first year at the bright office. So we may, we may be. And then also some stuff that I've obviously picked up over the years a little bit, you know, I focus on the technical and, uh, just trying to make the technicals a little bit easier to understand.I know there's a lot of sophisticated, you know, training, you know, moving averages and stuff, but just keeping it simple and also just some trading ideas from trading patterns. It seemed to hold up over the, uh, you know, the test of time. So I look forward to it and, uh, as always we'll be answering questions, Rob will have his strategies and, uh, looking forward to it.It should be fun working on. People are saying they can't be there. I've had multiple people reach out to me that can't be there tomorrow. You will receive a recording of it. Um, if, and again, if you sign up for the first one at the end to get a re recording email, Joel benzinga.com, he'll send you the recording.We, these are recorded events. So if you can't see it live, you'll get the recording. We only send out the recording to people who obviously paid and their emails verified that they paid. All right, Joel. And I will be, uh, Joel, I hope to join you later on. I have to close a pre-market prep, a YouTube channel if I'm not on the stream for their cannabis conference, but Joel is going to go live pre-market prep right now, Dennis, have a good rest of your day.I got to end this show because it's date cannabis. Absolutely I'll cover the price action that we missed and all these issues. I'll join you guys over at, uh, pre-market practice. Alright. I, I gotta wrap it up. It's cannabis day, two of the cannabis capital conference coming up live right now from New York city.We're going to the stream. I'll be back on the stream in like an hour and 40 minutes for a quick break. But day one was fantastic and we have another full day of content prepared for you today. So, uh, I'm gonna end the stream and we'll redirect you to that. Let's get the likes up to 500. I see. 360 9. Get us up to 500 legs, please.Thank you. Please remember all the information from our show meant to be used as informational purposes, not for investing or trading advice. Have a good rest of your day. Have a great open everyone. It's Friday, stay green. I'll see y'all later. See you on the cannabis.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary: Earnings from WFC, C, BAC, and WBA Boeing faces another defect BA Why Chinese brokerage stocks are down FUTU TIGRToday LIVE FROM NEW YORK! BENZINGA CANNABIS CAPITAL CONFERENCEThe premier gathering of cannabis entrepreneurs and investors in North America returns for a 2-Day Hybrid Event on October 14-15.Watch hereGuests:Marc Chaikin, Founder of Chaikin AnalyticsTwitter: https://twitter.com/marcchaikinMeet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://www.premarketprep.com/Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited TranscriptGood morning, everybody. I'm excited. You're excited. It's earning season here. Finally, we have stuff to talk about. It's been like a weird few weeks here, but we have stuff to talk about. Get hyped, great show prepared today. Let's run this thing and let's get it going. Hope you're having a great start to your day.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 property here. Isn't it. And Dennis stick, I bet the penny, I will buy the stock for a pen, which everything that you need to start your trading dayAll right. Good morning. Good morning. Good morning. I'm Spencer. There's Dennis Joel beyond and his second, but we got the banks. We got Walgreens. We got dominoes, earnings reports, Taiwan, semiconductor, actual earnings reports to talk about. Causing volatility, which you know, that we like, you know, that we like, well, we will talk about yesterday as well.We'll recap that, that, that, that session we'll talk about Boeing as well. I want to talk about a couple of Chinese talks. If we have time, we'll take questions from the chat market. Shaking will be on today in a few, probably call it 14 minutes or so. There's Joel. Good morning. Good morning. I'm excited.It's Thursday, it's day one of our cannabis conference, which is going to happen next after this show. And I'm in a great mood. So Joel, pull up your charts for us please. And while Joel was doing that, everyone take two seconds out of your life and hit that goal. Like please. And thank you reminder in two days, is the.Pre-market or perhaps Saturday extravagance of bootcamp after party morning, party brunch, you know, know I'm changing the name. It's now called brunch with Joel and Dennis. That's what it's called brunch with Joel and Dennis pre-market prep.com news 1230. Check it out. Joel. Good morning. How are you, Sam?You got a little pep in your step besides yes, I am feeling. Good I'm feeling good. I mean, I'm going line the Spencer going to the office on Monday. That would not be the worst bet. That would not be the worst, the worst trade to make. Uh, I'll I'll, I'll give you some insight info on that, but that wouldn't be the worst idea.Um, that's my goal. Back at the office. We'll see. I don't even know if they're going to let me back. I have to probably check with somebody first, but anyway, how are we doing? We're doing great. I mean, we had a, we had a strong close yesterday and, uh, and then boom, five, six o'clock open 54, 75. That's one tick below the clothes.Tick 54. Boom just took out the pair of eyes at 65. Didn't even Blake. They're making new highs as we speak 94, 75, a couple of targets on the upside, a pair of highs from Friday and Monday it oh 7 75. So that's another 14 handles. And then the high from last week at 2150. So that's what we got up there. A little bit of range trading moving up towards the upper end of the range, uh, helped by some of these banks that good earnings today are crude.That's up 89 cents at 81 33 high the move 82 18 gold up up it's a two day move right now, a bit over 1800, but now only up three 10 at 17 97, 80 silver clues, 23 up 12 and a half cents at 2320 9.5. Bitcoin did take out the 58, 3 50 pair of highs. But back under, it's still up to 35 57, 9 85, the Ethereum waking up that's up $213 37 64, a triple D was at you.Did you just like start betting at six o'clock last night and just not stop? Was that you bid it up the spider and, uh, in the spoos or what was it,Dennis? Okay, got that too busy trading, not paying attention. I started talking to you and it's the old mute Trek? No, I'm doing the same thing I'm doing all the time. I mean, this market is like clockwork. It's fade everything. If we wind the show to yesterday. What are we saying yesterday morning? Oh, it's looking bad.You were all nervous. Joel, nervous about the market, making up, taking out the new lows and what happens. They turn around, they stay down for a couple hours. They kept leaking, you know, you did say, you know, and we kept leaking off the jobs number or the, or the CPI number. But then, you know, we do, we turn around.Once we get down about two spy points, 20, as the people, once we start buying them and they buy them and they buy 'em and the bottom, the bottom, they finally buy, they buy them overnight. And now what do we do? We come all the way back up to resist. You got a nice fade. It's not even, it's 40 handles from the clothes, but from the lows of yesterday, we're up 70.Every single you get us, actually, I don't even have to do the show anymore. You just keep me just fading, everything, heavy, everything, fade your moves. It's the market that stopping out all stuff. So we talked about this in the pre-market of you got to stop below. You're probably going to get triggered because when you're going like this, you're getting hit with your stops.So you're buying the dip and selling the rip. And actually when you're getting stopped out, you probably should be buying the stock. So the undercutting rallies are working breakouts and certain stocks are, but most docs, they're not. We're just going to continue to chop around. I'm going to continue to repeat myself until it doesn't work anymore.Because once you find a trend, you need to keep taking money from that trend as long as possible. As long as the trend stays intact, what is the trend? The trend is no trend. The trend is just fade everything. We just ride 70 handles my, buying it up here. Hell no. Are we going to go up another 20 points maybe, but I know what I probably we're going to be back down next week on some other headline and back down at 4 35 again.So, you know, whatever you were buying yesterday, I'm probably selling today as a day trade, you know, as the short-term trades overnight. Buying the dips sound, the reps selling short, the reps, buying the depths until further notice. Can I compliment you on your end? I know, I actually went out the other day to change his shirt in like the two minutes, because, because I didn't want to wear the same shirt that I wore for that for yesterday.So I figured I better change my shirt. That is, uh, you know, rich ride. We at Adidas when rich ride and we haven't that shirt's gotta be like seven, eight years old because we haven't had Adidas peril. Um, I don't think since like 2014, 2015. So, but anyways, it's I shirt making new highs that sir, I do. I do. I have, I have plenty of Michigan shirts, but, um, anyways, let's, let's get to, I mean, the banks are, the banks are helping out.As we discussed in the pre pre-market show, JP Morgan set a low bar with the revenue missed at night CPSB then, then a bank. When you want to do bank of America, we'll do all of them together. Cause here's the situation. Bank of America, Wells Fargo, Citi and Morgan Stanley all out this morning with their Q3, EPS and sales and all six, no eight of those numbers came in above the estimates, everybody beat on the headline.Uh, everybody beats everybody, everybody beats every bank. And thank you, JP Morgan for setting the bar so low for every other bank out there, because we know that JP Morgan numbers, even though they were okay, they weren't fantastic in the hand hammer the stock on it. What does that do immediately sets the bar lower for every bank that's reporting the next day on one of the biggest bank earnings days we've ever had.So yeah, so you go through them all, like he was saying, or the expensive was saying, Morgan Stanley up 2% of the pre-market Wells Fargo up 1.2% of the pre-market bank of America, kicking butt and taking names up 2.8, 5% of the pre-market Citi group up 1.6, 9% of the free market USB up as well. Am I chasing these bank earnings?I don't chase anything in this environment because it's not the environment to chase them. But what I will say is that, you know, obviously if you're in, um, even bank of America, let's go start with that one. Joel, you're going to come in by the spring of 44 and a half right now when it's 30 cents off the highest, uh, if I, if I did, if I did, I'd be out there at 44 82 and I would say, come and get me no matter what happens, I would leave my offer out there.And I would wait three hives in a row, 44, 87, 81, 82. The Southern that probably was at the point, moved down to 90, probably big size at 90. I mean that you just got paid attention to that level. That's it? That's it. I'm only going to give one level and that's potential resistance in bank of America. If it did come down to the top of yesterday's range, I'd see, I'd have some interest in buying it, but not.The other ones, Citi group, man, we never talk about shitty group. Uh, I don't talk about city group. I still, this was one that I had in my lawn. I bought Citi group of my long-term portfolio in about 2002, and then it went up and it went up and I went up and then in 2007, 2008, it went what, what did it do?And if you go to the long-term chart, you can say, oh, well, if you just buy and hold, it eventually comes back. Uh, uh, uh, not so fast because Citi group did a one for 10 reverse split. And actually the high believed the high, the all-time high is around $650. Oh, look at that. Buy and hold doesn't work, buy and hold did not work in city group.And I've had people say that to me. I, you know, when I've talked to you in the past, like you just buy as banks eventually. Nope. Nope. Not when you dilute yourself, they didn't make it out of the financial crisis. JP Morgan did not have to dilute themselves. That's why that stock came back. I actually, Wells Fargo, I don't believe diluted themselves much either because Wells Fargo is actually been a better performer over the last course of the last 20 years than Citi group.But if you look at the city group chart, yes, those highs are real $550. I had, I had bought, I think about 40, which was 400. It had a nice run of 500 or 2 55, which would be 550. And then it went down and down and down. And eventually I wrote it off because it was never coming back in and you know what, it never really did.Never came back. Look at bank of America.Look at that. What's the all time high bank America. Yeah, it's still significantly off. A lot of these banks never came back after the financial crisis because they started diluting themselves. When your company starts diluting itself, seriously, that's where you got problems. AIG. I knew you're going to go this is the ugliest.One of the ugliest, one of them all go back just for fun, because we, everybody believes the stocks just always go up. Oh my goodness. They don't $1,400 56. You think you're getting your money back at 14? Never, you know why, because of it ever goes back to the 1400, it would be the most valuable company in the world.Why? Because they diluted themselves so much to survive the financial crisis. It was that bad. Well, you don't realize at the time horizon of 250 years. So if I, I will eventually get my money back and I, I don't know if you will, or that's just for fun. Let's see what the merch cap really would be of AIG.So these are good exercises. It would be, I think it would be like $56. So we're going to get out your calculator, Spencer, get out the calculator, put it on the screen. I'm going to numbers, math class, math class, $56 times. There is 855 million shares. on that. Okay. We're going to go like this. So we're going to 55 million, 855.Yeah. Times. What was the all time high? 1500 bucks for AIG. Yeah, I know ballpark it. It's fine. If it goes back to the all time high, which one are you talking about? Free. I, to get back to the all time high, the market cap would be $1.3 trillion, 1451. I think that's right. It would be a trillion dollar company.It would have to be yep. $1.3 trillion is where it needs to go. Is that right? That can't be right. It has to be more than that. Doesn't it? It can't be right. No one, not $1 trillion. Getting to just be ridiculous. 1, 2, 3. There's so many zeros here. I can't go that high. Yeah. Two, 500 million, 218. Yeah. At 1.3 trillion.That's right. You might as well have the trillion dollar coin AIG. So you think you're getting your money back as AIG, going to be a $1.3 trillion company? Personally, I don't. I mean, that's called dilution. My friends, when your stock is diluting itself, it's time to get hit the exits, unless they're doing it for good reasons.And then those good reasons are for growth. So bottom. Okay. Now that I've upset all you guys are my experts today. Bottom line, Joel. Almost. No, I just want it just real quick. We really, that was a tangent and a half there. Um, if you're basing it on the high of the move. I mean, C, C, C looks like it has some room to run 71 55.You're not even at your two day high, just under 72. Uh, the high of the midway over 73 Wells, far low, uh, that's bouncing back or Ooh boy, our major resistance over 48. This focus on your two day high here all 47 53. And if you don't hold yesterday's high 46, 57. We'll give some back. So, um, and Morgan Stanley had a good quarter, right?Let's see here. That's good. That's got some real, that's a real all-time high and Morgan Stanley two, I believe 1 0 6. It didn't do the kind of dilution, the big Goldman Morgan. A lot of them didn't have to dilute it because they actually didn't have pure banking businesses either. And I have all the bad housing, one.Uh, what have you got? You got, this is a interesting area just for you, Morgan Stanley traders, a trio of high. So it's called one double O 75. You haven't hit that yet. All right. It is eight 15. Let's bring on our guests today. Little sign for Chaikin. Uh, I don't want to have him I can make him a song. How would that for now?Jacob, up the cannabis conference for you guys. That should be the date for this segment. All right. Mark chicken. Good morning, sir. Good morning. How about the walls of the Tory or Athoria doors? Cause I'm bullish. Yeah, look at the book, but are you chasing the move in the last few days? Shaking the move.You're shaking. He's bear. He's doing it right thing. You're buying a dip celebrate. I'm buying depths. I at the style there's so much bearishness or skepticism out there even yesterday with JP Morgan reporting, they finished down on the day, but today is going to break that this is going to be the first day, first quarter in six quarters that Citi and bank America will trade higher on the day of the earnings.That's a big. 'cause people have been really skeptical. Analysts have been cutting their estimates coming into earnings. We've been, yeah, I'm sure you've all talked about the pattern of four closes in the bottom quarter of the range in a row for NASDAQ and spy. And that always leads to 30 day positive performance, like 82% of the time.So as the market is set up to succeed here, not to fail in earning seasons, you're looking at because there is some stocks set up to fail. So they're not all going to go. So which, which sectors are you looking at? Well, I'm looking at capital markets and today Morgan Stanley gives you a lot of courage here.Obviously Goldman Sachs will ride the coattails of that, but I like Blackstone group. That's a way for the individual investor to buy into private equity, early stage financing, real estate. It's it's a great play. It's not going to double, but they've got. New money coming in. I think 47 billion came in in the last quarter and they're, it's a fee-based company.They are in 97 basis points on there, uh, about 80, 80 to 90% of their assets. So it's a really interesting. Uh, it's a way for the average investor to have exposure to private equity in a meaningful way. And I like it, but there are, there are sexier plays, but this is a solid what's. The other one KKR has the other big one, right?Yeah. KKR has come under a little pressure. You've got the two principals resigning. I think there's a little bit of uncertainty about what happens without Kravis and Roberts. But, um, thinking about that, I mean, these are the kind of just stop and it was just like a plan to such in, is there some, I mean, it just seemed like a chronic and once there's a Leon black in their closet, no, George Roberts is a straight arrow.I know, I worry about those emails you sent in 2011, John. Oh my God. Yeah, watch. What would you say? And in print and on the air jokes. So I also continue to like cybersecurity, I mean, everyday worried about email, um, fraud about, you know, companies being compromised because of, uh, breaches. And there are some, I still like Fort net, it came down very buy-able in the two 90 area.We've talked about it a lot. So, uh, and I'm trying to find some small cap names in cybersecurity broken out yet. So maybe, you know that one's maybe a sleepy one, that's got a catch up trade. Cause he looked at like CyberArk and you think, okay, it's gone. I mean, it had the breakout over one 70 and boom we're 180 1.Um, interesting. You know, and CrowdStrike had pulled back, it gave you a boat. It gave you about a month here, you know, we're in hanging out at the lows and then boom, yesterday, CRW D it's like these favorite stocks. They out of favor for a little while, and then the market shows a little bit of life and those ones that are in favor of their leaders.Yep. I agree with you. And, uh, Fordanet is rich. I mean it's 97 times earnings, so, uh, it's got a catch up to the current price, but it tends to make new highs, uh, a little bit behind the market. So, uh, there's a lot to like in this market and I think there's a key level that I want to point out on the triple Q's.It's the three 70 level on the upside, and it's not a parrot on the chart, but this is where the deal of gamma kicks in. And I don't know this based on my own research. I have a service that does this. Uh, finding, explain that mark that's well, it, it has to do with the open, uh, Dennis is probably better at this than I am.It has to be open interest in the futures, in the options and where, where the deal is feel. They've got to get more aggressive at amping up their hedges. In other words, if they're long, because people are selling out of the money puts for instance, and it goes to a certain level there, they all these gamma theorists around and they tend to be right.I think the new market structure, normally I didn't pay attention to what the computers were doing and when, but so much hatching. Yeah. And it's the deal. And there's so much, it's the citadels of the world and the people who are market makers. And there's an awful lot of options, activity and futures activity that the institutions are doing.They're selling out of the money, puts they're buying protection, and we don't see any of this, but there's a couple of services, no more securities as an institutional analyst, Charlie, Miguel, again, who copies this. And I, I'm not, I don't qualify to subscribe, but there are people who translate his work in basically three 70 is the level.If you go above that, the dealers have to get aggressive at getting long and. Yeah. And those types of environments you see, uh, like a melt up kind of situation the times has that been relevant? I know, I know you really explained it. Well, it was during some of the explorations, uh, last year. I don't know if it was the March expiration, June expiration.I know it had a huge impact then is it had, I mean, you know, cause everyone was really flipped. They were all short a heads to the short side and the market rip to the upside. I don't, I mean, we're going to have that kind of reaction again. It seemed like maybe that was just like a one or two off flash.No, this is, this goes on every month you had it in, um, in, uh, November, December of 2018. That's what created the help create that waterfall. But we are in an options expiration week and this year has been different. Uh, 20, 21 typically, uh, Dennis, again, you be my conscience on this. Typically the market has gotten.Um, in the week before options, expiration then sold off afterward this year has been different, uh, except for September, uh, the market has gone down, uh, up and down in options expiration week. We're going to break that mold here. I mean, the biggest issue is what you often see. And I used to talk about the Monday effect the Monday after the options expiration is you see liquidity go last because what you have is those options come off the board.So all of a sudden anybody who's, you know, using those options and they got those options has hedges and they've played the stocks off those off. You lose that whole, uh, after the third, Friday. Cause not all stocks have weeklies out there. You lose a whole bunch of liquidity there and that's why you often see bigger moves on the Monday that follows you.The direction is sometimes random. But what I say is sometimes, you know, like you'll see a whole, this whole bunch of open interest. Everybody's got these calls that expire on the Friday and then all of a sudden, the Monday comes around and that works for the weeklies as well. And all of a sudden volatility picks up on those individual stocks that had a lot of open interest in, you know, in some strikes that are close to where the current price is.So one thing usually see is the increase in volatility on the Monday. Yeah. The other thing is that there's people front running these patterns now. So in September, um, instead of the buying that you would've seen on Thursday, Friday, you got it on Monday Tuesday because everybody's got access to the same information now, you know, red, red, it's the great equals.Mark D the three 40 number, the 3 43 70 number in the queues. Do you happen to know what that corresponds to on, uh, on the, on the NASDAQ futures or? No, this is a question from the chat. I don't know. I watched the spiders. I don't watch the, uh, I, they usually pretty close. The spiders are a couple of points away in terms of support and resistance from the spy, from the QS index.I just wanna get your overall market thoughts here. I mean, yeah, there are pockets of areas that you like that hasn't changed, but it seemed like at least from your email last night, that, that you're just pretty bullish. Like you think earnings season is going to carry us high. I do because analysts were cutting their estimates coming into earning season and typically that, uh, and it's more than just the bar.It means people are leaning the wrong way. Remember, Paul Tudor Jones is great comment. You know, I always want to know who's leaning the wrong way on the. And clearly, if analysts are lowering their estimates, there's a bit of a bearish tone and people are leaning negative. So in addition to overcoming the bar, which I agree with you, it means that people who have been sort of expecting a messy earning season are now saying, today's going to be the case.We can hold these gains today. There is no a story in the world that says earning season is going to, and remember what are people focusing on? Inflation, supply chain issues. Now here's the most important story of the day port of Los Angeles, port of port of long beach, California are now going to be operating on a 24, 7 basis.Walmart. I thought, I thought they already weren't, you know, Europe, Europe, they do, but not, no we've got unions, buddy. That's a union town. Uh, so yeah, that's a big deal. They're going to break these supply chains. Uh, bottlenecks, we're going to have more semiconductors. And we know the market's a discounting mechanism.I mean, on the show and, and in my head, I'm always thinking, you know, what's the market going to do today? Next week, the stock, market's looking ahead, six to 12 months and saying, okay, we have inflation now. Yeah, food inflation, isn't going away, but what's it going to look like in 12 months? So all these people are saying you've had the peak of the economy, the peak of earnings momentum.I think they're puffing, smoke. They're guessing. And in the stock market, you don't want to guess. You just want to, and that's why the trend is so important here. And we have not. Re-established the uptrend, by the way, we've got to get above 4,500 in the S and P uh, campaign and for Paul's job. In February, is there, is there any rumor to that, to that transitory?What about, what about something that hasn't left the station yet? You know, things that, you know, you have, I mean, bottom picking is a, you know, can be a dangerous sport, but some of this, some of this health care, I mean like Bristol Myers. So they go out of business. I mean, I know that shaking rating is probably going to be negative on that, but, you know, is there anything that, you know, your, your life next rotation?Yeah. Yeah. I mean, and biotech is actually doing pretty well right now. I assume there are some has a really good chart pattern. It has a bullish rating. I'm not recommending that DVA. I'm not recommending that one. Cause it's there. I've got too many vaccine plays in my head. Um, I also think at some point Moderna is going to turn.It had a bullish rating, obviously with all the, uh, uh, I wouldn't call it negative news, but with the merch pill called it all these stocks. Yeah. But I wouldn't count. Um, Madonna out, everybody was so excited about the RNA technology. Uh, that's not going to change. And my view is COVID is going to be with us for a long time.So, uh, you got to find ways to play vaccines and so forth flu season's coming up, you know, there's, this, there's a lot more to our health issues than just, you know, a booster shot. And how long is it gonna gonna last? I also would look at home builders. I, um, I'm scrolling air and trolling to see if we have any bullish rated home.The home builders have been hit. And obviously because he get input costs going in that hits the home builders to a certain extent because people are like, wow, I'm not building a home when you know, when everything is doubled. I know cause I'm building a home, but, um, they have been hit. So, you know, eventually you get to an environment maybe where, you know, the home builders actually, I mean on our Eliane, it's 10 points off the highs.I mean, they're still doing well. It's just a matter of looking forward. You know, how the market always tries to look forward. Is it going to be the last people building homes because the input costs are so high? Well, we've got a small cap home builder that I recommended in July and it's called technical last.TGL S it's a Colombian company that makes architectural glass and it's a play on the south Florida. Housing and building boom they're primarily office buildings. They make those big sheets of glass that protect you against hurricanes and, and, uh, things like that. And it's right at the high, had an unbelievable quarter it's fins.So please don't barrel into this one and they're volatile. These stocks can drop 25 or 30% because the bids evaporate, but, uh, it's, it's at a double top here and making a new high. I think, you know, this is a stock that's proven that they can make money in down markets, but south Florida we know is booming and they're just getting into residential.And the nice thing about residential is sorry about that, guys. Didn't turn my phone. I'm not sure. Totally Horace silver. It's fifties jazz. So our question for the chat, any, any oil, energy names you like right now? Oh yeah. I liked the cold stocks. CIX, you know, their problem is they're all making new highs and you gotta be a real believer.But, uh, if you look at what some of the major banks are doing, like the guy at JP Morgan, who's been a guru for the last three years on sectors, uh, really believes that the energy crisis is just beginning because of a lack of supply. So, uh, coal, uh, you know, love it or hate it. Environment-wise coal is an alternative to ramping up your drilling rigs and getting your friends.Uh, programs funded by banks. So coal is in there. You just have to extract it. So CIX is one that, uh, has a great looking chart. Take a look at that chart and see if you're seeing what I'm saying. Um, it's a little pull back to 32 after making that. Hi, I'm mark. What about, what about bait tack? Is it just, just leave it alone?Just it's you know, it's had its run. It's just going to muddle along. Cause I always look at like, yeah, you can get your, you know, you can get market going, but you know, the big tack, the big components of the index. How about Facebook? Well, are you doing any bottom fishing and Facebook? Uh, well I don't bottom fish, some smart people say, look, this is three companies in one year buying Instagram, you're buying WatsApp, you're buying Facebook.If they break it up, it might be worth more than the summer. Some of the parts might be worth more. I like Google. It has a neutral plus rating. It just has to get above. Uh, you know, resistance here to go bullish again. I like Google and Nvidia, uh, in the big cap tech stocks. I think Amazon has troubles the chart pattern on Amazon,you know? Yeah. It has on, um, you know, Jay is Jeff is the Jeff Bezos success are going to pull off a Tim cook. I somehow doubt that's worse than a consolidation. Dennis PPI, excluding food and energy was up 2% versus the estimate of pup 0.5%. I mean food and energy. I mean, you know, w really, um, gas prices are at a seven year high, but the market knows this.That that's the thing. If you're talking about tapering, if you're talking about inflation and this is not a surprise, what's what could bite the market. If, and when is something we're not even looking at right now, you know, do, do we have a shooting war over Taiwan in some form? You know, does the Chinese it's always that unexpected expected.I just can't focus on what's right in front of me, except when I'm looking at the market trends. Fair enough. Fair enough. Mark Chaikin is the founder of Chaikin analytics, a long time veteran of every market cycle. Really? So mark, we appreciate your, oh, by the way, Joel, you were looking for a nickname for me and I, I guess I'm late to the party, but has anybody given you the nickname?The three Amigosand if so, who's Martin short. Uh, there's this one guy they'd send emails to. Uh, he's comments and most, every show Spencer, I don't send them to you. Um, he calls us a lot of different things. They're not all good. Migos is one of them. He gets really mad at Spencer. I don't know why he gets so mad. It's a voice of reason.I, I, I, I can take whatever you have to say. I can take it. I'll start sending them to, yeah, really? Yeah. Oh boy.filter. That takes care of that. So that's an area of the market. I would look at anybody doing email security. Um, and there are a couple of names there. I'll talk about next. You got a name. I'll hold it till next time. I'm going to say for us, it sounds it's called a T. Thanks a lot, mark. All right. You as well, you as well.Hey, let's talk about Walgreens here for just a second. And then we got some more stuff I want to get to quickly. We're going to end the show at nine o'clock today. So, uh, let's go to Walgreens cause they had earnings and I, I, this one makes sense. In hindsight, uh, the earnings be the sales beat and apparently Walgreens gave out twice as many COVID vaccines as they thought they were going to.Which when you think about all the vaccine mandates kinda is like a duh, like why? And I think of that type of thing. Any case I know the stock is offered to pre-market high of enjoyable. What's it doing this morning? I'll give you two things. Major resistance at 49. I mean, look at all those highs just under 49, but I'll give you a more important tip on Walgreens.Don't go to the Walgreens at 14 and metal. After the close between four 15 and four 30, it is just absolutely jammed. Like the line to pick up anything, to pick up a prescription, to buy anything, incredible lines there. So that before and later I want to go to a lot of these Walgreens in San Francisco, eithersix of them, just because of shoplifting. They can't, I don't, I don't get it. Why can't you like stop? Like I see this video. I don't understand. I see this video, the one guy just blatantly shoplifting and putting stuff in his bag. It's the one that. Why are they not grabbing him and arresting him? I don't understand.I maybe they do. Like, he just says, go away. I'm like, he's taking this stuff and they're just like, kick them out of the store with all this stuff. I don't care. I don't know. Maybe the worker don't come here with your understaffed. And they were like, well, there was like a security officer there too. I wasn't not detain that guy and arrest him.I don't understand at all. I don't know. I can't understand what's going on in San Francisco with a shoplifting. It's really out of hand apparently. And that's, you know, sad. Obviously. I don't know. They got to like crack down on that. That's a major. I don't know. I don't know. Anyways, 49, I haven't looked at CVS in a while.Whatever happened to that? JP Morgan, Warren buffet. No, it's dead. It's dead. They're saying I did hear this. That there's that there is no criminal record now or something for process or for shoplifting under $750 goes wild. Yeah. So that's why everybody is stealing everything. I don't know if that's true.I'm not about that. That's what the chat saying too, is a lot of people apparently from San Francisco out there. So they've given us the details here right now, arrest them. If they steal under a certain amount, I have no idea to change that law because if you're stealing anything, you should be arrested.In my opinion, I just, my opinion. I don't like shoplifting. And obviously if you're not going to prosecute, shoplifters shoplifting is going to increase upstate. It's kind of common sense. Do you have that? Do you have an algorithm for that dentist? I think a positive correlation between not prosecuting shoplifters and shoplifting going up is probably quite high.Who said the coldest winter was a summer in San Francisco. Frank Sinatra? No, the gas price. Same. Who was it? What about, let's go to the chat. I know we got some old, I bet you I'm not that far off. Mark Twain. Mark Twain said that or saying that I thought he just said things. I didn't say. I thought I heard saying then you're saying no, mark.Mark Twain also said my favorite place to shoplift is in Walgreens. Uh, Hey, they're closing six stores. So yeah, so that's what you get shoplifters at Walgreens may not gonna be able to shoplift anymore there cause they closing the stores. Okay. It wasn't, there's not a lot of stuff on that. I don't know about the supply.They might be having some supply chain issues. Well, you know, maybe people are stealing everything, but it's weird. Like you go in there,that's the source of the supply chain, but I'm bringing this back. I'm bringing this back. First of all, why do you get winter wag? No, they bought boots, lions, and then they booted it. They don't havegreen boots. No, they sold boots. They kid, otherwise it's still in the name. I still got boots in there. Walgreens boots, Alliance, WPA. That's what it stands for. I mean, what a, her wag was awesome. I like the dark. I'm moving to sauna here to Boeing report this morning from wall street journal that Boeing is dealing with a mother manufacturing problem.This one is on the 7 87 Dreamliner. I guess they have these titanium parts. These titanium parts are. As strongly they're supposed to be apparently. And I'm just another and a continuing series of manufacturing hiccups for Boeing though, not involving the 7 37 max. So I guess that's, um, airlines, airline makers.There's just, there's, there's definitely an overall trend in these things and it's not up. So Boeing has been a consolidation station for a while here. I guess Boeing's kind of just been consolidating here around 200, 2 50. Uh, I don't know, start really showing some life here, mate. Maybe this is the one you sit on and maybe eventually it comes back, but you know, again, if you're not the believer that business travel is coming back, then it's not good news for Boeing either.So the business travel in the earlier, I don't, I don't really, I, I think when are they getting out by Boeing, when they start making smaller air. 'cause I just think these, these big jet liners, man, I just, I dunno, I think travel is going to be, you're going to need the smaller planes. He's on vacation business travelers, not coming back.And that's why I stay away from the airlines. Easier places for your money. Th that thing opened up at stiff yesterday's low. And then there's so many bag holders in there. I mean, in all these airlines, it's tough for them to go higher. I mean, they've had nice rallies from the blows back when we thought everything was ending, you know, back in April and March of 2020, they've had a nice rally, but where are they going now?I mean, we've had some dilution and a lot of these stocks to which we already had the dilution talk and that's never good. I don't think any of these companies diluted themselves to the degree that AIG did, but at the same time that show share counts, go up. You've got to figure out, okay, well to get back to the highs, where's the market cap got to go.Does that make sense? So a lot of people where they have flawed analysis, they just look, oh, this stock was $60. So eventually it would get back to $60. Well, if they've diluted themselves, it's harder for that to. Um, I don't have all the airline dilution in front of me, but I can remember a lot of offerings, um, back.And I don't know if it was Delta or who it was, but there was some offerings back a year ago. So all of that dilution adds up. I mean, it's the same thing with AMC. There was some dilution here too. So, you know, you add it up and, you know, AMC is its own animals.planning and attack soon. Look at that. Ah, look at that. Yeah. Look at that. Quiet. It isn't consolidation stations. So it's there, you got a little double bottom for the last couple of days here. It does its own thing. You can't apply fundamental analysis to that thing right now. Eventually I believe you will be able to right now you can't.So I just kind of stay away from that. Although I do trade AMC and GME together, we know I like to penetrate them. That was GME. We haven't talked about that.We may toss up that monthly chart on GME. We've been talking about that for awhile. Jamie's starting to set up. Yeah, it's got a set up there though. I see. The reason I can't get behind it is I just can't grasp the, obviously as a trade, you shouldn't be looking at fundamentals anyways, but I just can't grasp the concept of GME as $184 stock with a market cap ofgrabbing it, you know? And then you compare it around yeah. $13 billion. So. Yeah, it seems like a lot of money to play for a video game. Um, okay. We have a few minutes left. I want to cover dominoes as well. This morning PZ, they had earnings. Um, it didn't doesn't seem as bad to me is everyone's making it out to be so here's the headline numbers for Domino's okay.Their earnings per share B their sales missed, uh, by a little bit there, uh, what everyone is, is hanging their hat on though, is that same store sales in the U S declined. They actually fell, uh, 1.9% for them. It was the first time in like eight years that serum store sales in the U S have declined in dominoes on a year-over-year basis.However, if you look international through same store sales grew, well, I just had it up here. I think it was, um, uh, it, it was almost 9% and international represents two thirds of their locations, right? Two-thirds of their, of their footprint is outside of the. So, you know, you know, I, I don't know how big a deal one quarterly decline in same-store sales in the U S is when you compare it to a nine, almost 9%, same store sales growth for two thirds of their stores outside the us.Um, but that seems to be what everyone's hanging their hat on this morning is the U S stands for sales decline. Uh, now at home play to a certain extent. I mean, when, during the pandemic of last year I ordered dominant, we ordered dominoes pizza as a family. I felt like I feel like twice a month. So when we haven't been ordering dominoes at all, because we're actually going out, you sit on a patio, you can do some stuff, you know, like you're, you're enjoying yourself a little bit more.So as the reopening trade has. Back and, you know, to a certain extent it failed, but, uh, as people are going out and doing more things, they don't need as much Domino's pizza with that being said, this is the best, one of the best run companies out there. It's like chapeau lay that just, you know, has its past trades at a higher valuation than its peers.There's a number of reasons that they do everything right. So do I believe Domino's pizza is going back to 400 and the Katy bar, the door we're going down. I don't think so. I wouldn't be surprised that gets. Uh, you're taking out a somewhat important support at four 70. So now that's going to be your resistance.So I, till it get back above four 70 path of least resistance is lower. You are taking out your low from, uh, July, which was 4 61. This is Todd did four. I'll just give you the pre-market low as a potential area, but I'm not going to drill back on the dailies. But I do have an idea. Remember how, when I was in Ann Arbor, when, you know, if they didn't deliver it within 30 minutes, we used, we used to park, we lived on a one-way street, Greenwood, and we used to park our car, you know, so the guy couldn't get through well, now, if they don't bring your food out to you in two minutes, it's free.Have you seen those commercials? No door in order, if you like go to the store and then send your car, if you do a carry out or something, you know, you call in and you go pick it up. But how you can just sit, stick something in the door. So they couldn't open the door for, oh, you can teach him bad things on this show, evil things, Joel quickly, before we get Joel prosecuted here for doing mean things, Domino's went on that, that PR campaign where they would pay the roads.The roads in Michigan are so bad and, and Domino's is a Michigan based company that they went on this campaign where they're like, we're going to pave the roads in Michigan because they're messing up. Our deliveries, they're messing up the pizza, then the car, Michigan Domino's farms out there. Um, he does everything right, love the company.I'd actually be a buyer, the dip, I'm not going if I coming on the first day, but maybe I have no position. And I don't really intend to put a position in a Domino's pizza, but I think the dip probably gets bought a couple more stocks on my list here. Your biggest losers of the morning so far are your Chinese brokerage names.So tiger T I G R O, which is up FinTech and futu, which is F U T U. Why are those your biggest losers? Because there was a update on some Chinese government website that basically was like, Hey, these Chinese, but these brokerage companies would basically allow Chinese nationals to invest in like us companies, us stocks.Uh, we think you're probably in violation of some of our new regulations. So. More shiny government torching your companies. I mean, this is just makes me so not wanting to invest in China. And every time we come in, once a week, we're coming in and there's a new sector getting hit because the regulation, I mean, I don't know what to say anymore.Like I said, I own that piece of Alibaba, but, and I've got an ETF that I've got some emerging markets ETFs, but those are full of Japan and Singapore, they're becoming more and more full of Japan probably. And the other emerging market, or I don't know if emerging markets, but Asian, sorry. That's said emerging, but the Asian markets there, um, I think you've just got this non-stop, you know, sell any bounce in any Chinese stocks because of the money managers are nervous.We just don't know what the next. Thing they're going to do. So I just can't get interested in investing in China, not with always regulate. Joel, Joel is going to have the Japan ETF pull back Dennis, and you know what that coincides nicely with the rally and the FXI over the course of the last week. So you can see money.Okay, well, we're going to start pulling it back. Look at FXI look at there's a negative correlation between Japan and China. That's been happening for a little bit here, go further out on the charts, you know, and that's, our job is to identify correlations and how to profit from them. But I mean, I don't think it's coincidental that Japan and China has a negative correlation right now, because there is investors that are like, okay, well, you know, here's China stock starting to show some life.Let's move some of this money back out. If you're staying within Asia, if you're staying within Asia, then I think you're, you know, as you're moving money out, China, you got to stay within Asia. You're going to go Singapore and Japan. And if you start moving money back into China, then you go the other way.But I think this, uh, this balance in Chinese stocks is. So I'd actually be a buy. I actually buy the dip on the chat, Japanese stocks. I, I, I've got a couple of Japanese bonds. I think I would buy it as well. You're looking at EWG. I actually believe I own the Canadian equivalent of EWG. I might even know what you D w J direct cause you know, Canadian.So by the Canadian Japanese bonds, but I actually liked that pulpit has a nice pullback 10% over the course of the last month. That'd be a buyer, the dip on EWG. Got it. Can we request, I haven't been given the dad jokes of the day lately forgetting. Yes. Uh, I'll give you a Wednesday. Dad's love to tell you how important it is to learn, to drive a stick shift.Do they even make stick shifts anymore? I've got to get rid of that. Probably.It's been on my to-do list to learn. That's fine. Hell yeah. I suck at it. My wife, her first car, we had a stick shift and then I'd have to go drive that thing. And I was like, I'm terrible because I didn't, I had an automatic as my first car, so I never driven a car until you've done a burnout.Take a video of you doing a burnout and then bring it onto the show. I got some of my older days when I had the last thing, we want to see the mitzvah. Uh, dad's love to complain that people around their phones too much these days. I like that too. So I'm one of those dads. It's like people go on a date, you to see these young dating apps, dating apps, and then they go out on the physical date and you look in, they're both on their cell phones.Cause they got to update their status on what they're physically doing.that's how the date's supposed to work. All right. Let's do some, I agree with that statement. I agree with that. Dad joked that I was wearing a couple of them down. Let's take a look at tattooed chef T TCF. Cool. We're long time. I know solidation station here. Mister is real. Look at the eye on this guy.Question is, has it been down here too? A little bit support, a support until it's broken. And we talked about that huge level in hood. I have not looked at this chart a huge level in the tattooed shelf. So you got your setup. 1779, the lower the move. Do you get an undercut and rally maybe a day, maybe you gotta give yourself to 17, um, to give yourself some wiggle room.If you're doing, I don't follow the fundamentals of this company whatsoever. I'll just say I have a setup here. The one issue I would have is that it's maybe been down here for too long and usually they don't give you a chance to buy the bottom this many times, but with everything starting to move higher, you're at support and support a support until it's broken.So if you're taking the shot, stop yourself out. And the unders you know, well, I'd stop on under 17, maybe 1750. I'll let you do that. You're not doing that one. Okay, fair enough. No tattoos. Okay. A few people I've been everyday, we get asked about so far. It's basically almost back in my cost base is now I'm like less than a dollar away.Uh, so come back unless you're an AIG today, there is not okay, man. It was on mad money. He gave six fintechs and then he said, you know, the, the small one or the, you know, the one that he was really, he, he pumped it pretty hard. Actually it wasn't even training up. What's that Spencer, that only works when it's only in an uptrend, he got on it.And I watched it go from 19 to 1950 during a segment. So he had six FinTech stocks that he thought, you know, the banks of the future. And so if I was one of them, he said, what square PayPal. They both ripped on it. And then he had upstart in there. He had a firm in there. It was the other one. And then he finished with sofa.And so if I, from 19 to 1950 on his segment, you can move stocks. Uh, it was pesky at 19. That was the level I gave yesterday. And, uh, now it obliterated it so far. So now if you want to buy it, that would have been one of the fun to trade during the day. You know, if it opens up at 19, 19 0 2. Well, yeah, I got the 1931 yesterday, so, oh no.Pre-market height, 1980. And I got nothing in here. Nothing here for you on a monthly, he's got to take out that probably some optionality there probably, you know, you're coming into that. So I would think twenties me, I'm not coming in here. I was in it. I sold it. I, I literally sold this thing. Like, I don't know, like two weeks ago I had the big run.I bought it at the 14. See the hugging, the hugging, the hugging. I bought it in the mid fourteens. Cause I had that level to lean on it ran 18. Then I had the little pull back. I actually just think I sold this like, like five days ago. So I sold it way wrong. Um, because of the last three days, just blast it off.So disappointed in myself. It didn't hold this one better, but that's me. I already sell too soon. What about, what about Upwork? I looked at Upwork for a while. Is it still on a breaking out the new highs or? Well, it pulled back a long ways and then he got this ridiculous run for five days. So if you're buying it now, holy macro chase chasing, chasing, chasing this stock a week ago was 45 bucks.Now it's 50. I'm not buying something that we're in says ran 25% in six days on no news, not the candle you want to see yesterday. Right. And, uh, yeah. Yeah. I mean, if it holds 56, 16, I was low. Boom. But, uh, after that it looks like yellow drop off 54 66. So that's what you're looking at, that this may, that high now that 59 46, that just looks so far away now, you know?So I can't, can't give you a good level on the upside high, close to the moon was yesterday at 56 60 Garmin here, stock. That just always goes up. What's it to you? I haven't looked up. It's not going up lately. Garmin, the monster stock that this has been, and I mean, monster 2016, $40, you're looking at a stock that's one, a 400% and better than five years, the stock has been an absolute monster.It's a pullback. You gotta set up lower. The move a hundred fifty, two fifty are not far off the lower, the move you can take a shot at. The problem is you do have some overhead supply from all the bag holders in the last month and a half. So it's not easy. Slaton. It gets easier above one 60 and tell them guilty until proven innocent.They do a good job, Joel. Yeah. Excellent on that one. Yep. I little early to look for a 50% bounce in this one, but a good support support, a support until it's taken out 1 53 29, 1 53 33 too low, same area. No. I here's one we haven't talked about for awhile and phase II, NPH and phase energy who brought this up, which one of the best of breeds who did the short report on in phase spruce point, but don't quote, Rach or report.That was the 40 writers. So that's, I got 170 now. So hopefully you weren't following natural report. I'm not sure who it was. We were guessing spruce point. It might not have been, but I'll tell you this one has just been one of the best solar stocks. SoI don't know, but it wasn't very spruce point where you said that the other day it wasn't spruce point. He would keep picking on spruce, sorry, spruce point a S E D G N E N P H have been best of breed and solar sector for a long time. I don't know if that changes any time soon. I still think I want to be investor in solar stocks.The problem is they just ran tan. And it was precious. Precious. I had just came to that point. We've missed it. We've missed around here. We got away for a pullback. Now, in my opinion, tan has run in three days from 79 to 80. Oh, that is just a crazy move. Um, I'm still along SunPower. It's one of the only solar stocks I've got left.I wish I had still had it all, but I sold the trade portion of it. Um, first, so I've been in and out of a few times, I like all these stocks on pullbacks. Yeah. If you're looking for resistance, you're trading up on the under 17,000 shares to highs that contend with 1 77 69. That was your September 3rd high.That's not far away. And then you got some room up to 180, 31 that was your high on September 2nd ever going to get off the $40 level Juul. No, it's going to be, it's a magnet to it. It can't get away from it. Maybe Monday releases it. Maybe there's some optionality there. I didn't look at it. I'm just assuming there is at the 40, um, Wow.I just got to say this $40 has just been a magnet. It can't seem to get away from it, but support a support until it's broken. That's my thoughts on hood? Same as yesterday. Same as the day before. Same as last week. 40 is huge. I mean, Mitch was here for a sec, cause you know, mid to like solar magenta, you know, one of the things is we've been talking about relationships, right?Dennis and Joe, we're going to talk relationships this weekend. And one of the things that I did is I actually use stock odds to confirm my probability, look in solar. Um, if you guys don't know what stock odds, that's definitely check it out. We're going to be there. Ron's done that. Definitely check it out.Um, but what I liked is that it started pointing up to the probability of FSLR S PWR. Um, I really liked the run chart. If you look at run that, that looks awesome right off the bottom. Um, multiple times already though, I feel like you should have been in three days. That's the hard part D solar's been running with a tough market, right?And so everyone's looking for pockets of strengths. I think this is one of those, of course, you've got to look for pullbacks now, you know, four day run. You don't want to be jumping in right here, but I definitely say pay attention to solar going into November and December. All right. The last chart, this is the one for me.This pull up the GLD for a minute. I am, I don't want to miss this. So I know a couple of days ago, so I know, I know. I know. So I, now I, I missed that yesterday clearly. So now I wait for the pullback, right? We set up the, and silver go rewind. The tape was 2090. And I said, if you want to do it, I didn't do it.I wish I went up, but I said, stop yourself on our 2065 or at risk. It's up almost a buck from there now. SLV, Gold's gonna move similarly. I mean, the setup was there. I think you wait for a little pullback, cause I don't like to chase anything. It's not a huge move. I just don't like to chase anything and gold just doesn't seem to move $30 and go straight up.Maybe it goes another just keeps going straight up. It is the textbook inflation trade. We talked about this too. And then we're saying, is there a possible catch up trade here maybe, but we're saying, we're also saying it has been performing why? I don't know why and that's why I laid off of it. But right now the inflation trade is getting more and more.So as people talk about inflation, you start to see obviously, you know, a movement up here, um, in gold and silver is the inflation trade from the textbook, whether or not it's going to perform. I am still skeptical. I w we got to wrap it up. It's nine o'clock. The Benzinga cannabis Kappa conference is going live right now, Dennis.Congratulations to you. When you're first plays Edmonton Oilers. You're in for blew it last night, but then they went Smith who that's all that matters. I'll catch you later at the close today, correct? No ethic clothes today. Are you around here? You want to do out to close with me on a pre-market prep.com you out there?Show me. Okay. All right. I'm going to have more. We missed a lot of symbols. Like what's this happened? You didn't invite me. That's okay.Anyway, that's fine. Everyone hit that, like ticker. All right. Hit that like button, please. And thank you. Have a good rest of your day. Benzinga cannabis. Capital conference is going live right now in person. It's so exciting. Stay tuned for that.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Market recapJPM EarningsDAL EarningsInflation dataApple cuts its iPhone forecastTomorrow LIVE FROM NEW YORK! BENZINGA CANNABIS CAPITAL CONFERENCEThe premier gathering of cannabis entrepreneurs and investors in North America returns for a 2-Day Hybrid Event on October 14-15.Register hereMeet 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 TranscriptHey everyone, Spencer Israel here. Uh, before we start the show today, just want to tell you guys real quickly about today's sponsor. Um, everyone knows you can invest in alternative assets, real estate, gold, et cetera. We talk about that all the time on the show, but there's only one asset class that you've probably never heard of that has outpaced the S and P 500 by 174% from 1995 to 20 to 20, which is pretty great.When you think about the rom that stocks have had, um, it's not gold. It's not even crypto. No, it's contemporary art. And unlike the other assets, I mentioned, nobody is talking about contemporary art, but paintings sell for millions of dollars. However, you would have to be really rich to buy one of those paintings.So great for them not so great for the rest of us. masterworks.io is the only platform taking billionaire art collectors head-on and lets you access their exclusive investments. Simply put, you can now invest in the very same art that they do. All you have to do is quartermaster masterworks.io. Create an account and buy shares of paintings on the platform.You can either wait till they appreciate or sell them on the secondary market. Um, on, on masterworks, it really is that simple. So masterworks.io create and count and browse their artwork. They've got names like Banksy and Monet and you can get access without having to pay you like a good joke and dollars for an entire painting.So masterworks.io, the link is in the description. The link is aiming. The chat, I just put it in there, right? Whoops, there it is in the chat. Check it out. masterworks.io. Now let's start. Today's showcoming to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn. And this is a foul tile puppy here. Isn't it. And Dennis Dick I've been the penny. I will buy the stock for a Peck with everything that you need to start your trading day.good morning, everybody happy Wednesday. Hope y'all having a good star to your day. Spencer. There is dammit. There is Joel. We got a lot going on today. I guess we can say earning season has begun with Delta airlines and JP Morgan reporting today. The rest of the banks report, we got to talk at apple though, probably off the, off the hopper today.Apple headline out yesterday after hours, they have cut their iPhone production forecast. Why you know why there's not enough supply of components. They can't get components for their phones. We'll talk about that. We talk about inflation. Don't forget. Eight to 30 dentists go wide CPI out for September today at eight 30, we're going to go, we're going to be wide on eight 30 and we're going to talk about that number as well.We'll take questions from our chat. Let's throw it to Joel. Let's bring tools, charts on. Good morning, have we bought or sold the rip yet? Oh man. We already in with it. The apple and, uh, Bullard, uh, talking about rates going up and, uh, but it was by the dip again, uh, rub 10 and three quarters handles it, uh, 43 51 50 only one relevant number on the upside.And that would be the high from yesterday at 43 65. Uh, coming back on the downside here, CPA number, if they don't like it, maybe you see the close at 40, 75 crude, Poland back, uh, trying to stay in that $80 handle down 63 cents at 80 or one, our gold. We talked about it yesterday. It's having a good day up 1690 at 1776.Sylvie, future's waking up to they're up 44 cents to 22.955 a Bitcoin Poland back. But Ooh, healthy. Look at that 55 K just standing there as support, uh, down 2 0 5, as I said at 55, 6, 10, 3 M's chest been quiet. Look at those tight little ranges. They're up 4 75 at 34 93 50. So, uh, earnings is finally here for JP Morgan.We got apple news. We got a lot of stuff to cover. Triple D your head must have been on a swivel there with four 30. Yeah, it was crazy. I was, that was a good action. Yeah, but you know what a hit. So the apple iPhone news hit right at 4:00 PM and it's like, you see Spicer tank and you're like, And then I miss part of my closing hedge on spy, chorus.You miss part of your head and it's never works in your favor when you miss the part of your hedge, it never works in your favor. And I miss shorting a bunch of spy on the clothes that I was supposed to shorts on unblocking stocks, and then spy starts tank and I'm like, oh, great. Never works in your favor.So you that then you're trying to work it all out. But I mean, at the end of the day, um, you'll see apple it's come back here once again by the dips, come back. So give us the headline that broke right at four o'clock. This was a report that apple is likely to slash per their, uh, projected, uh, iPhone 13 production targets, uh, for this year, by as many as 10 million, they may produce as much as 10 million, fewer phones than they thought they were going to because of prolonged chip shortages.This was a recording. I want to say it was Bloomberg. I got to be honest. I don't remember who, who broke it, but I think it was Bloomberg, but that was a headline right after the bell. Well, I will tell you, I am participating in that ship shortage because I have ordered my new iPhone, 12, many. I'm trying to get rid of this five, but it's been ordered here.Now. They told me a couple of weeks. It has now been one month. So no call, no call from Rogers yet. We're waiting on my 12 mini to come in. The reason I went to many is because it was the identical size of the five. I don't want a bigger phone. Went to 12 mini. They said should be in, in a couple of weeks.It's been one month. There was still nobody calling me to tell me my new phone. Isn't so again, that's, I'm participate. Uh, you had to quick drop and then the after hours, you know, goes off the board at 1 30, 9 50, and then just shrugged it off, opened a higher, uh, then at eight APM close, I look at yesterday's close 1 41 51 down to 77 cents.Uh, that'd be, that'd be resistance for now. Coming back on the downside. You are below the low from yesterday. This. I do a pre-market low I'll use that as a target on the downside, but it doesn't feel like we're going to get down to 1 39, 26 sides, only a buck 30 away, but apple just selling off here and continuing to get hit with some bad news.Losing lawsuits. Let's look at significantly off the lows. So not great news whatsoever. When you, you know, we've been talking about the auto is getting hair chips shortages. Now you've obviously got apple. We know maybe it wasn't completely unexpected, but we're bouncing back. And if you would've told me that apple was getting hit pretty hard and talking about chips, shortages, and obviously supply issues, then I would have thought that, okay, the whole NASDAQ's going to follow suit.That is not happening. QQQ ripping higher, actually up more than the IWM, which I would not have expected. I would have expected rotation out of tech into, so, you know, the IWM because we've seen this rotation been happening over the course of last eight months today, everything is kind of ripping higher here.So spies lagging a little bit. Uh, but overall, I mean, good day for QQQ considering Apple's not doing that well. And then if we jump into this, jump into the suppliers, the suppliers really aren't doing that well, and maybe we should take it there right now. So if you look at Skyworks down four bucks, look at AVG, oh, down four bucks.Look, Cirrus logic. Cru S is down a buck here too. I mean, Qualcomm again, and it's got its own news is trading up, but it was trained down initially on it. But you see in the apple suppliers get dinged here, which they should. Uh, but. I'm impressed with how well the overall tech market's holding up, despite the apple news, a lot of phones, 10 million last, I mean, how many do they sell?I mean, how many do they usually sell? I mean, it's a lot, but I'm one of those 10 million. The can't get, get me my phone waiting everybody. And the other thing that sort of has been made clear to me, I think it's obvious at this point, right. Is apple. And someone said this in the chat because they are like the supply chain Kings, right.Them and Amazon apple kind of sets the tone for the entire technology into sucks sector. It's in terms of like supply chain, production, um, feeling right, like, like how good or bad, like w the industry's feeling about, about, uh, supply and demand is like apple kind of sets them. Because they're the largest tech company in the world.Right? So for Amazon to come out and say, yeah, that's probably not what we thought it was going to be. You know, w we're not going to be able to produce the funds we want that probably ripples throughout the entire tech sector in the coming weeks. Y that's what you would think. Well, that's logic, Spencer using logic.And that's what I would have thought last night. DQ is why, why does QQQ why is QQQ trading up a buck 60 here now this morning, despite having apple in there, what is the reason just to screw everybody had that has that thesis? Um, well, what's, what's the Facebook dude.Every, every tech stock is trading up except the apple, but it wasn't that way. Last night they were all trading down and then separation happened. So I guess they don't think that the market thinks this is just an apple problem, which is absurd. So, I don't know. I think, pardon me would, thanks while you should be selling tech stocks into this rally here this morning.Uh, which I've been saying for a while, you know, in a higher inflationary environment tech isn't going to do as well, but it's impressive. I'm actually impressed that QQQ is up here. I would thought it would be a QQQ massacre today on that headline. And that didn't not, that has not happened. So that's my thought process a bit.I can't remember when, but did it, they have to cut per I mean, there's always been real bears or analyst comes out, but I can remember one distinct time. I dunno. Maybe it was I think you're right. Um, let me see here it dipped and then it just, it shrugged it off. I can't remember. I wish I can remember when now was, well, this is every stock, Joel, like every tech stock eventually shrugs off it's bad news.Nobody's shrugs it off better than Oracle, which misses every single quarter and every single quarter, you come back to the stock three weeks later and the stocks got all the losses back and then another three weeks later, it's making new highs. And if you look at Oracle at all time, highs here, once again, full disclosure.I am long Oracle in my long-term investment portfolio. I'm up above. Eight 900% I think in it now. So it's been a good long-term holding. Uh, but I mean, this is tech stocks, right? You know, everybody's just got the buy, the dip mentality, Cathy Woodbine and CRISPR last night, the buy the dip mentality in tech has been rampant forever for free for a decade.And that content's continued to work. So, I mean, maybe that's just what it is too. Last night, you see apple down, people buying tech stocks on the dip and now they just get over excited and that are they actually buying it on the rip? I don't know. It's a difficult market to call here. I'll just say that.I still think we're going to all time highs like Mr. Spencer Israel. Thanks. But I'd rather own IWM than QQQ right now. The idea IWM. I mean, you just look at tad. It is just the ranges. It's right in the middle of the range that you've had since February smack dab in the middle and the ranges are getting smaller too.Uh, while we're only hitting hedges in the IWS. Then there is. And I mean, if you want the pure inflation, as we know you go commodity. So, and like I said, I bought, I bought more lumber stocks yesterday about steel on the pullback I'm in buying physical stuff. And I, I guess my best hedge is this house I'm building for inflation that's because I can't even keep up with it as I'm building the house.So hopefully continues to inflate after it's built. But this is the market that we're in. Is it different this time? Like it is, or is it just eventually going to go back to a tack wins the day? You know, we, we don't care about inflation. We're just going to buy tech stocks and. That's the exact opposite of what we talked about yesterday.I don't know. I'm not because I've been selling tax stocks, buying some, you know, like an obviously, you know, we know I own new core, but you know, I wanted to buy USD. I didn't get that. I did buy Cleveland class. I did buy it's called can for in Canada because I'm Canadian, but it's a big lumber lumber supplier, a big lumber, a stock in CFP and the TSC.If you're following in Canada, I bought more of that yesterday. Um, I just think the physical, I want to own some physical stuff, so I've tried it and it depends why, how your position too. Right? I've been, my portfolio has been long tack and you know, too, too long tech for a long time. And it's worked really well.I just look at my portfolio being like 40% tech, probably maybe 50% tech and thinking I want don't want to be quite as long tech right now. So I've been using tech rallies, which like we have today to lighten up some of the tech stocks. And it's not even it's sometimes it's just, you know, a re you know, the reallocation because the stocks have grown so much.I don't think my portfolio started as like half tech, but it's just like, that's, what's grown the most. So you have all these stocks, like I said, you know, apple, if I add up, I'm on apple, I'm on Amazon. I'm not long Facebook. My mom, Microsoft, you know, you're a long Google and these things are just up so much that they start to take over your portfolio just as they've taken over a spot.So, I mean, if you really are starting to get to. It's you got to lighten those things up a little bit and maybe reallocate to other sectors. And other sectors have been working in the banks have been working very well. We're going to get a CPI number, which is going to dictate what the next move is. And maybe that's a good segue into JP Morgan earnings could because it's next on the list.But, um, and there's a lot of information coming, but if you're sitting all just tech stocks in your portfolio, I think you're reallocating. I think you're reallocating earnings per share this morning from JP Morgan, $3 74 cents. First, a $3 estimate revenue, um, slight beat as well. Uh, bad 30.4 bill versus a 29.8 million estimates.So they beat on the top line revenue beat on the bottom line earnings. They released a little over $2 billion in credit reserves. Um, what else did they say? Um, Fueled that headlines in the Benz and GoPro, um, growth in advanced, in banking revenue up 45% total markets revenue were down 5%. That includes, I think, uh, uh, charged back or something.Um, so I look at the headline says seem okay. And again, releasing credit reserves generally, uh, seen as bank earning seem to never matter that much. It's, you know, after a day they're forgotten and then they just all start moving together. I mean, I'm going to talk, relationship-based trading this Saturday, but the banks, you know, I pissed and trade all those things and what's that mean there's like 5, 6, 7 in the majors and they all moving up and down.One's moving up, one's moving down at short, the one by the other. And they seem to bring themselves back in more often than not. Um, besides Wells Fargo, which has obviously been a perennial disappoint, or you bring those charts and you look at the banks, they all look similar. Goldman Sachs Morgan Stanley are their own breed to a certain extent.So I like to pair those two on their own because they were never pure banks. Like the others were. Uh, so a lot of other businesses, obviously in there, but JP Morgan, I don't know what to say on the charts on this. So wrote to Joel here, we had a breakdown the last couple of days ahead of the number. Now you get a little pop it.We're going to get all the other banks tomorrow. We're going to bank of America, Citi Morgan Stanley Wells Fargo, Goldman on Friday. I mean, they're all coming. So we get, this is the first so far, so good. I'll say, but you never know what the bank's going to do until after nine 30, because sometimes what they do in the pre-market exact opposite, what's going to happen when the big money comes in.I don't think they liked.Uh, well, because I thought that it would, you know, you've had your move, you got a triple top at 1 71 50, which is huge. You got a double close at deal time closing I 1 70, 22, and you've had a two day break. And I would be taking that. If, you know, if they'd like this, they easily would take half of this glue back, get it to 1 68, 1 68 and a quarter hold in there for a couple of days and take a stab at a, you know, a new all-time high.I mean, I just keep looking at this move and JP Morgan from 1 52 to 1 71 and a half in like two weeks, two and a half weeks, three weeks, it's digesting the move. I mean, if it's not. Bolt up and, and, you know, get momentum off a good earnings report. I dunno. I just don't they just looking at the chart, they sold it into the report.It did hit 1 64. I dunno when knock it down to 1 64 and that report, but I would just, you know, there's no daily level, there there's no daily or anything. A 1 68 and a quarter. It just couldn't, that's my number, getting data out there and off the TLT. So you're going to see movement CPI number coming.What's the TLT going to do TLT is trading slightly higher today. So far that typically is bad for the banks. There's an inverse relationship. There. Keep an eye on that up. The TLT stays strong. The banks could eventually roll over. So you have that fighting it right now is JP Morgan a pretty good report, but the DLT is higher, which would naturally want to bring the banks down a little bit, but that could all change after eight 30, when we get the CPR.Right. And I mean, we're supposed to be having higher rates. And that said, that is, that is good for banks, but I mean, it's just incredible booth and, uh, it's digesting it and we'll see if, uh, you know, how it moves off the, uh, the CPI number. I mean, I guess we did have, we had the big move, uh, at the end of last year, right.We went to a hundred, to 120, then we had another leg up, so on the monthly. So it certainly looks like it's still, it. Just based on those moves more room to go, but let's see how much it gets back today. Once laissez mentioned 1 68 and a quarter has been number for that, how the other banks reacting here right this morning, they all moved together.So it's amazing. And I've said that before is even on earnings reports. So if I'm doing hedging, like let's just say for whatever, I want to take a stock through a report and it's, you know, look got a loose relationship with something like a ups, bad acts. It can do like I would, you have to do the laggard more than the leader with the banks almost can still do them until they just don't move around that much.I mean, if it's a really disastrous report, JP Morgan's and be down, but bank of America, Citi group Morgan, saying all of them are going to be down with it too. So they're all trading slightly higher here on the JP Morgan. Good. But again, TLT probably weighs on that a little bit. Remember there's always more factors involved.So with, if, if we didn't have the JP Morgan report, the banks would probably be slightly lower because the TLT is higher today. That number's relationship is very strong. So I think it's the JP Morgan report holding up the banks here this morning. But again, let's see what happens after eight 30. I think we should revisit the banks in 10 minutes.Yep. A 21. Yeah. You got that number coming out at eight 30 in a way these numbers have been, I mean, they'd been having, I'm not even going to ask you what the estimates are because they just have been all over the place. Right? Well, I, yeah, I mean the, the, the standard, if I were at the fed, I would say, well, they have been going down on annualized basis.Um, It's still pretty. I probably have to take away. So we'll go over that in a few minutes here. I'll let's pivot to the airlines for a second only because we've got Delta airlines importing this morning, EPS beat sales missed by a smidgen. Here's the headline though for me, the CEO says that they expect to see revenue get back to 2019 levels in 2023.So another two years before the company gets back to the free COVID revenue that's to me is the big takeaway.Um, the report was fine. I, again, if you're going to own a reopening trade, I'd much rather on the cruise lines. So I'm just going to stick with exactly what I said yesterday. Um, I think the airlines still going to have a tough cause I don't think business travels coming back ever to the way it was. So I'd rather on the cruise lines.I think they're both moved together. I think the cruise lines are better, so I'll leave. Uh, and I'll just say right now, just, you know, based on the, uh, the pre-market trading and trading over the last two days, you hold 40 to 75 you'll turn and go up and maybe, uh, and maybe test that close in 43 54, uh, below 42, 75.I'm not even going to pay much attention to that. 42 37. That's the other daily low I'd look closer to 42. So you got a technical setup. If you liked the, if you liked the report, you like to trade the gash in your open into a double bottom. See if it holds it just wouldn't want to hold onto it for dear life coming back on the upside, after being down then up, uh, keeping an eye on that close 43 50.All right. It's 8 23. We got seven minutes before the CPI number. So let's just chill. We'll sit on that for a few minutes. And then at around, uh, 8 28 or so I imagine Dennis we'll want to, we'll want to hop off and, uh, let's go back in the body back central here. Yeah, we had my box last night. Bring up the chart of Qualcomm because it was trading down.With the apple news. Initially, obviously the news we know, broke at 4:00 PM Eastern, um, for the apple news. And if you see Qualcomm did take a little bit of a hit, there can be down under 1 21 under one, I'm sorry, under 1 22. And then the headline breaks. I feel like around what, 4 45, 4 30, 10 30, $10 billion buyback, Qualcomm, huge buyback.The stock just absolutely rips higher on every algo than algo trader. That seems like there's a million algo traders out there right now. They overshoot as they always do up to 1 26 and a half. It's kind of settled in 1 25 ish. It helps that apple has bounced back a little bit here as well. Um, huge buyback I'm long Qualcomm long-term portfolio.Don't intend to trade it. Don't intend to do anything else with that. Um, it's it's it's been coming down. It's a nice snapback rally. It, these are the kind of stocks you want to own right now. I don't want. Um, I'm not selling it because I'm been in it for a long time and I'm just, you know, I need to stick with some core tech holdings.Qualcomm is one of my core tech holdings, but I don't know if I'm buying it into the 2, 2 50 $3 pop that can get in another five, six bucks off this. I think it kind of prices priced at where it wants to be. Uh, you got some great monthly support. Um, if you, you know, if you choose to lean on the monthly levels, right.Uh, coming right down here, then one $22 area. Look at that. You've hit that 1 22, 1 23 several times. So if you're leaning on it first swing trade, must hold the area. Maybe with looking at the monthly charts, when they decided to do their buyback. Did the negative here to be negative. Nelly is you haven't even taken out your two day high off.This, this thing's been hit pretty hard. Pre-market high. The initial spike was the 20, 26 50. But I think if this thing is going to have some jets rally today, you should easily, easily get up to 1 27, 23. And that's, that's two bucks away from here. So they like it. It's up a couple bucks. I don't think they love it.What is your, uh, what is your, obviously up from the close, your three-day close actually stopped dead in its tracks. It's three days close at 1 26 55 and boom. It hit 1 26, 50 and right back down. So street not getting super carried away with this one major resistance up at one 30, talking against my book here, because this isn't a long-term portfolio.Um, I'm, I'm not that excited. It's a nice buyback. It's just this, this. Is this not in favor right now, some of these tech stocks, a smaller and this a big one, actually, obviously this is just not in favor. You can see the chart. So you got everybody caught back older, central. I think you saw. I think, I think we had it on for a trader using the rip to get out, but it only two, it's only up to box.It's not up much on it. I would have liked to have seen a bigger pop. And then you have international paper, same thing, same story. They're doing a buyback as well. What's interesting about this one though. And when I read the headline, I was like, oh, dividend or a buyback and dividend raise. And then I looked at IP and it started going down and I'm like, why is IP going down?And I went back to the headline. I was like, oh my goodness. It's not a buyback in a dividend raise. It's a dividend cut. So very rare. I don't think in 21 years, I've ever seen that buyback announced with a dividend cut completely. Cause obviously you can do two things. You know, if you're giving out money to shareholders and give them buyback, well, there's more, it can retain the earnings, but if you're giving the money back out, you give it out as dividends or buybacks.Really. So. I look at it and think, wow, do you want to give some money back? I don't know why they're giving a dividend cut. It feels like they're not doing anything. I guess they just wanted to do a buyback. So they, I don't know, they're raising the money from the dividend cut or what, but very interesting.I don't think I've ever seen that in 21 years and in the same headline where it's the out buyback and a dividend cut, but that's what we saw last night with IP. Uh, look at the pre-market action. It kind of, or excuse me, in the after hours, you gotta pop just over 56 40. Uh, but if I was lying in this stock, I'd be saying, man, I want to get this thing over 57.I don't know if you know, if this news is obviously you're not going to do it right away trading at 55, 74. But man, I mean not one, not two, not three, not six but nine eyes at the $57 area, huge institution. I don't know if there are institutions. I don't know if they're moving off that number or not, but that's what you need to take.Take out on the downside here. Yesterday's low. I mean, your lows have been coming up, so you've had higher lows. Uh, I'd use 55, 16 as a, as a potential. You know, if the market goes into decline and this goes into decline, but 57 really standing out to me and. And IP international paper. All right. It is LSU where to go.It's 29, Joel Washington pull up some short-term charts, both short term here. Here's here's a situation for this CPI print. Okay. So the expectations for this morning are for CPR for the month of September to coming on an annualized basis at 5.3%, that will be a point of view percent a month or month 45, 40 3% annualized.Uh, if we get that number, that would be the same as the prior month. That would be the same as August. Cause that's when we got the number is 5.3%. It will be a lower than July, which was 5.4. Um, and also, uh, in June, June we had, um, I believe we also 5.4%, uh, in June. Right? So it's hot. It's hot. Oh man. I, I, you know, I was so busy reading that I have taken my eyes off my other, I've only got three screens here, which I know seems like a lot, but it's really not.When you're streaming a show, still staying within a couple of, oh, a couple point range here, uh, just got a pop 53 75. That stands as your current high. We're looking for to breach this. So it looks like it looks like a once in wine. Uh, I think if I didn't finish giving you the, uh, The, the, one of the estimates for like core CPI, which excludes food and energy, but that came in, in line at point at 4%, which is right where we were expecting.Um, non-core is just regular CPI. All right. It was a smidge smidge hot 5.4%. So remember 5.3% was your estimate 5.4% was your actual, so we're basically back to where we were, where we were in June and July in terms of annualized inflation rate. So, so, okay. This is now like the, what did the fourth or fifth month in a row now that we've been over 5% on, on CPI.So, you know, I, it's getting harder and harder to make the argument that inflation is transitory. So again, not only did the CPI number come in, uh, above the essay, but it came in above last month. Number, it actually came into higher than last month. Core CPI was in line. Um, But still, I mean, you know what I mean, the futures are moving here.I dunno if there's something wrong with my stock quotes here or something. I mean, I see that future's ripping around pretty good, but it seems like people have yet to make their, maybe I'm looking at the wrong stocks. I'm looking at JP Morgan and that's not really moving off. This is hanging out at 1 66 30.Uh, I got the good actions booze. You did make a new pre-market high by a buck. 53 75 went to 54, 75. We're really back where we started. I mean, I know looking at that, you know, my levels and looking at the charts here, I mean, we're stopping. I mean, this market is stock. You know, we had those inside days.Last week, we broke out, it looked like we were ripping right back up to 4,500. They brought it in. We looked weak yesterday. You know, at least in the after hours, they couldn't filed through to the downside. I mean, this, I see the only way I can put in it's just this market is just stuck in the mud. Now you're getting some selling coming in just a little bit.JP Morgan bumps up just to tad. Uh, now we're coming back. 43, 43, 43, 43, 75 was the spike. So this is the, the one minute bar you had. I'd be interesting to see if, uh, if triple D got some nuts, some trades off in this, because I just don't. I don't see, I don't see apple. Apple's moved a little bit lower.Microsoft is still holding onto its gains. Uh, what else do we got here? Um, So it looks like the biggest reason for this surprise. Uh, if you can call it a surprise where at a point 0.1%, um, higher number than expected on an annualized rate, it was just energy. It was just fuel prices, right? It looks like everything else was pretty much accounted for that.And that's not to say it's not high, but it's what the market was expecting. Right. So it looks like energy is just the, the, the culprit here. If you're going to call this a hot number, Which I guess, I guess you can. I did. I did initially, just because of the, you know, the reaction, um, you know, the concert, you know, the tail, T's just all just holding in here.No, I mean, I thought we could get some more action today with, you know, the JP Morgan, uh, earnings and the CPI number. And I think participant, where were we at? Well, let me change this year to the 15 minute chart. I think we're, I think we're within a point and a half. Where were we? Uh, this is when the number I'd like to see where it actually started out the 8 30, 8 30.Uh, we started out at 48 50. Now we're turning south. Uh, we're going to be testing the clothes here at 40 75. So I know we were surprised to see the market up with all the negative news. Now they're not liking the CPI. Now it looks like we're coming down the test, the clothes, and, uh, maybe the market's finally made up its mind.I'm going to take that back energy. Actually. I don't think it was the problem. It was food. It was food cause energy. I'm looking now at the breakdown in the actual report and energy actually lessened on annualized rate inflation, uh, decreased from September or from August to September food, low increased.Uh, if you look at food, um, CPI, uh, in food was, uh, for August was 0.4% and in September was 0.9%. So it looks like food is, is the culprit here. That's why if you take our food and take our energy. No. The number is, is, is, is normal, is what we were, what we were looking for. But food appears to have been the culprit here, uh, in September rising food prices.So there's that. And again, now this is what, like the fifth month in a row, we've had a CPI about 5% on the annualized rates out, you know, it's, I could stomach the trends toward an argument for a month, for two months, for three months or maybe four months. But you know, we're getting to be on one five now, and it's, it's harder and harder to not like scoff at any transitory argument that the fed is making.And I know that they've tried to come off that a little bit. I, I forgot. Was it bollard. It may have been somebody else who came in, came in the other day though and said, yeah, we think it's going to go longer than that. Then we thought, or we're not really sure. Um, yeah. I, um, my, my, my, my take a few months ago was I still kind of thought it would be transitory.Um, it's just hard to know in the moment, but that was three, four months ago right now by now. So, I mean, it's it, I don't know. I mean, it it's, we're, we're still in the thick of it, whereas inflation hasn't really gone down. It actually went up from August to September. Now most of that was food, but that's, that's the way it is.And the stocks aren't responding because the merch of the future is haven't picked a direction. Okay. So when you're chopping around, so if you're doing pre-market arbitrage between the indexes, which obviously is a lot of stocks that are thinner, you're not going to see a huge response to the stocks when you're seeing the index go like, oh, oh three, four down.No, no, no. Okay. People aren't going to jump and start hitting the stocks, you know, for the most part, till they start to pick a direction here. So there's trying to pick a direction, but really it's been kind of a muted response. I mean, when you look at it, yeah. We've had a 10 point range off of it, but it could have, you know, some of these we've had a lot more violent ranges than that.So it's been kind of actually we chopped, but it's been a, it's been a tight shop, really? So the market hasn't picked a direction. It almost looked like it wanted to go red there a minute ago and now we're bouncing again. So I, and the analyze it and you think, okay, it's a little bit of a hot number, but it's not completely, you know, you know, crazy.Like we've had some of these numbers come, go, whoa. So, you know, we're a little bit above expectations. And I don't know, I didn't, I was listening to your food conversations. So I can't comment whether it's food or what it is, but it appears to have food has been the primary culprit. Anybody who is still preaching to you, that, you know, this inflation is transitory.Isn't going to go just disappear in three months is one lying two or two. Doesn't know what they're talking about because it's not transitory. I mean, we are in the most inflationary period. We've seen the 30 years right now and I can, you know, you go in there and everything keeps going up, you know, and it's not just, you know, building costs and the case.Let me know when you're building the house, but it's everything, you know, like we were talking the other day, used cars, you know, who makes money on a used car? So, I mean, yeah, you can blame the supply chain. You can blame a lot of things for it, but it's kind of like the perfect environment for inflation.You have a consumer that has changed their mindset to a certain extent. You have a consumer that is paying for physical goods instead of experiences, because there's not as many people doing as many things as they were doing before. And people are liking spending money and having physical stuff and doing physical things.So I, I think that, I think it sticks for a while. I think it's sticky. And that's why I keep saying it's about changing your portfolio to be better suited for the environment. And I think you're still looking, I'm still buying commodity type stocks on pullbacks. I'm still selling tech stocks on. And I think he continued to do that and tell the data starts to show that, you know, there's inflation is in check.And I don't think it's going to get in check anytime soon, you know, gold once again, just, uh, just toying with the longs here, uh, got up to 17 78, 50. He got right near that high from a couple of days ago. And then back down now up only three 20. So your gold inflation had shot. Not working out, not working out big point.Didn't move off that. Now. Now the spoos are feeling heavy, Dennis. It just feels like in this market. Yeah. I know you're getting people buying the depth, but I think the writ, I just, these rips here, it feels like the money is coming down. Like, you know, it's out there. The offers are out there. They're willing to sell that.They're willing to buy the dips and stuff, but it feels like the offers are just coming down. And now we are going red here on the session. I, um, given back a lot of those games, we didn't get to yesterday's. Huh? We're we're now, uh, we're now in the red after that. So the market has made his decision that it doesn't like to CPI numbers, no mark.That hasn't made any decision at all. I completely disagree with everything you just said. I think you're going to see a lot more shop. I don't think we can clearly say just because we dipped to the red, the market has made its decision. The market doesn't know what to do with this number. That's why I went off.It went down to be in this environment. If you're full on bearish and you're selling in the hole, you're doing it wrong. I think I'm going to continue to be a broken record on this show for a very long time. And you've got to be buying depths and selling reps until further notice. In 2020, it was the buy the debt market.And then hold, hold, hold, because they continue to go higher. And if you were selling the rips, you regretting it three days. I remember us saying that last year, Joel, it's like I sell a stock. I regret it three days later because the stock is. We are not in that market environment anymore. We are in a contrarion market.This is, we haven't seen a full on country and market for a while. We saw a little glimpses of it in 20, 19, 20 18, before COVID started, there was some, you know, a few pauses in the big running bull market, right? We're in a contrarian market now where you're seeing just a lot of chop, a lot of no directional trades.And if you're buying breakouts and you're selling breakdowns, you're probably doing it backwards too, because a lot of these are fake breakouts and fake breakdowns. So I think you continue to fade moves and that means selling the rep and buying the dip. I'll keep repeating it because it continues to work.Oh, wait, I chat to asking them about used. So I'm looking at the report right now. Uh, I can go through by segment. The used car market is still absolutely bonkers insane on an annualized basis basis. We're still up 24.4% year over year, but the silver lining there is that we, the used car more inflation in used cars has actually gone down now, uh, 1, 2, 3 months.So, so it is getting better, but it is still absolutely bonkers. If you look at it on, on the annualized basis. Um, I just want to go through the, go through the, the, the different segments here and tell you where, what segments are better or worse than the overall headline number. Again, 5.4% was the overall headline number for September.Uh, what's better. And what's worse than that, right? And by worst, I mean, higher than that, a better, I mean, lower than that, um, food inflation overall is not, that is not as bad. It's 4.6% energy is, is still absolutely saying it's 24% annualized, um, used cars, obviously in St. I just said, uh, medical services are not as bad, only 0.9%, uh, annualized, um, transportation, not as bad, um, uh, peril, not as bad.Uh, it's really just. And it's energy on an annualized basis that are just ripping our faces off right now. Um, so they've gotten better. Energy has gotten better the last couple of months, but, uh, same with used cars, but still just ripping our faces off. Um, that's where it's, that's where it's being felt the most probably.Um, but there are segments that are, that are doing better than the average just, well, obviously, because it's an average number. So, um, just want to throw that out there. People were asking about used cars, used cars are still bonkers bonkers because they can't get the new ones. Yeah. Bonkers hot, but Hey, silver linings down three months in a row that was problems do fix ourselves.If we do figure out the supply chain issues, you know, the used car market, isn't going to be as bonkers, obviously as it would be otherwise. So some of these problems I do believe do fix themselves. I don't think it can continue to see the inflation rate, maybe. Yeah. And, and certain parts of the economy that we've been seeing, we know building costs are just absolutely insane concrete, you know, maybe there's my builder telling me, but I've heard from multiple people is up like 50 to 60% year over year.I mean, it's an insane number to think about. Like we've been giving, you know, the electrical, you know, a lot of love on this show with inflation. We've seen there, we've been giving the lumber, which has come back down to a certain extent, but you know, concrete, it's like so many things, but you know, it used cars is the thing that really blows me away.And I think that does VIX itself once obviously, you know, GM and Ford put up the production and the curves that they want, but not having to have chip issues. I think you're going to start to see some of those problems fix themselves, but this mindset of rising prices is out there and there is businesses that problem.I don't actually have the input inflation that other businesses have, but they can use that as an excuse to raise prices as well. So you're seeing a little bit of price gouging probably in that way happen as well. Uh, obviously this amount of inflation is not okay. Uh, to anyone who thinks I inflate any inflation is bad.I would disagree. But this inflation to this extent is obviously not good. I was just trying to tell you what is better than the average, what is worse than the average to give you a feel for where, where the pain is being felt? The most it's being felt the most in used cars and energy. Um, and, and, and that's basically it used cars and energy right now is, are by far, those markets are just bonkers, but, um, Hey, getting a little bit better.I'm trying to find the silver lining here. Um, it's 8 45. Let's talk about. Plug power and dollar power, uh, this morning, because I saw someone mentioned in the chat, we talked about it on the pre pre-market show, plug power cotton upgrade this morning, I forget who was, let me check right now. It was Morgan Stanley giving, giving a plug, a $40 price target.So plugging Ballard are both willing to hire off of that and let's call it that chart. Look at that, run this Chad plug's been moving. Yeah. And you know what? Jim Kramer helps it along too. I mean, he had the CEO on plug power two, three days ago and people start, you know, it wasn't retail loved stocks when they see what's going on mad money.That can be a catalyst as well. Obviously has been some news here too, but this plug power has really been popping. But again, if you're gonna come in and now it's of $4, five days ago, now it's 32. So you just saw a 30% rise in three. This is not the environment where the stocks that are going up 30% go up 50%.It's more of the environment. Stocks go up 30% come back in 20%. And if I was just, you know, an obviously we don't have a crystal ball, we don't know anything, but I've been burned chasing moves in this market. A lot of times this is not the market chasing, definitely lean on up here except for the pre-market high.It's at 30 to 65. And we're starting to leak off that level as we speak at 31 75. So the bull's got some lift and to do, if they could take that out, maybe I get a look at 33, 28, but just a, what a, what a great run this is had. And I mean, now you're common with the upgrade. I mean, all these people are very happy about that.32 65 pre-market I use that as. Yeah, plugin, BDP, sorry, BDL. Because they moved together. All the PLD, both dyslexic today. What gives Spencer a break? Give me a break through his cover. We'll give him a break, Joe. We don't give any breaks COVID to a thing. He just like your eight might chop my head off. Cause I said, wow, mark lives a little bit weak here.I don't know where the buy the dip though, is the dip at under 4,300 where all these lows are, you know, the Lowe's from last year, I think maybe a Target's on your stocks and you're looking at levels and you're using Joel Alcon and level analysis, which he's going to teach more of that on Saturday. He's actually going to teach you how to derive your level.So it's a good segue to advertise our event. Once again, on Saturday morning at pre-market prep.com. But I mean, there are so many, you know, there's stocks that come into support and then the support olds, right? We talked about this AMD. Oh, just sitting there, sitting there, sitting there, and then all of a sudden it starts going off Robin hood 40.We talked about the Robin hood 44, while this has been the, like the rocket Gibraltar, you know what, it's going to challenge it again. You think on like the seventh time, maybe it's going to take it out this time. But what I say is once they hold three times and you're making money by not that level, you do it every time until it breaks, because I wants to GE off a level.I'm not kidding. I think 19 times in a row, it was back. Like, I dunno like a decade ago. And I, I bought it off this level and it was an intraday level, 19 times in a row before it broke. And I'm making money every time pick up 50 cents a buck, but by 50 cents a buck picking up 50 cents a buck and then eventually, and this was one, it was like a a hundred dollars stock.Uh, but I mean a hundred dollars, a hundred dollars stock again, cause the reverse split. But here's Robin hood. If you've been buying this office 40, I think you continue to do it until you see a 39. And then you're like, okay, it's through it. That was fun. It was fun while it lasted, it continued to, you know, just get in there and sell a pocket in there and sell the pop.The Robin is going to try 40 again. Maybe this is the time it's going to break it. But if in 1, 2, 3, 4, 5, 6, 7, like eight times already, it hasn't broken 40. I'm not going to say it's going to be the time on the nighttime. That's actually going to break that. It means it's a solid level when a holds eight times in a row.Uh, you know, uh, G got to said yesterday, he came. Yeah. Yeah. I think he thought I might be wrong. I think, I think you gave it. I think he gave it a $55 price target where, where we need to verify this check and you help us out. Well, the problem is, Joel has these dreams at night. He confuses dreams with reality.Sometimes we have to verify, I'd say 80% of the time though. It is reality. So that's why it's worth it. Please help me out made Joe maybe referring to like, um, uh, uh, if he was on TV. Right. But yeah, I was, I saw it on CNBC. Um, I, you know, body language says, I'm not sure if you know what, I don't think that was new though.I don't think that was new. He says you're right. Maddie says you're right. All right. Slow back says Joel's daydreaming again. So we don't know, we have one, one for Joel's right. Two, if you think Joel is daydreaming. So we're going to do a vote in the chat. If you think Joel is right on the two, so $55 price target and he didn't dream it up.Put a one. If you thinkyou need to go ahead and buy lucid motors. You're lucid dreaming over here, man.Voted that. You're dreaming to the tap. What to do with this. Here's what I think here's the thing I think Joel was right, but I think he was not a new price target. Okay. All right. Here we go. You guys. I just may pick on your draw. I'm sorry. I just may quit right now. I just may walk off. I may look at this.Okay. What do you guys look at it? We see it. We see it was that from last year and what's the data continueuntil you're not signed in. No, no, no. Joel, I I'm agreeing with you. I said, I think what you said is right, rather than a Barron's buddy, but it wasn't an, it wasn't a okay, fine. I thought I saw 55. Okay. There it is. There it is. You see it right there. Did you see it?Okay. It looks like he is correct. Okay. Uh, Hey, let's, let's go back on the chat here. So I always ask him, I've always asked him about. Sorry, someone was asking about merch and you don't like your mom's going to come on down. I tried to send me a text right now. Stop picking on Joel. You're going to get grounded.Well, you don't go anywhere before it doesn't make any promise for a year and a half. Yeah. Okay. What I need you to read because the balancing you, I lost your chart. So bring it back up and then let's, let's look at Merck. Okay. Merck, Merck has been Lincoln here. Let me get my charts back up here. Uh, the it's under 80 bucks now, right?I was looking at it yesterday. Um, let me bring up, there we go. We got to get there. Wasn't another opportunity to sell the rep. We've talked about that day. I specifically said if this wasn't in my long-term portfolio, I'd be ringing the register on the sixth point rep it is starting to come back. I do believe it eventually fills the gap all the way down to $77.Um, I think you're selling the rip on this thing. There's no rep here today, but I think thank you. I think it fills the gap talking completely against my buck because I'm on a portfolio. What, uh, what was interesting about it was it had those big opens and it had, you know, we're going back to four or five, six days and it had the reps and it had some higher moves, but it never, it would always close below the open and, and, you know, unhappy volumes.So to me that indicates, yeah. Like, oh yeah, like the sellers were like, okay, yeah, open this puppy up. Yeah. Get it up higher. Cause I got stocked that I'd been sitting on since, uh, you know, $2 and 18, you know, and 55 60, and this is just a dream. So, uh, it's filling the gap assist just slowly slow here slowly.Uh, as the P is back to an unchanged again at 40, 75 shopping around, but there's 43, 30 and 43 40 handle. We have been seeing a lot of that. Shop. It was the same word we use last week. It was the same word we use last month. Chop, chop. It could be that, you know what? It could be that for a long time. I mean, we don't necessarily have to rip back to do all time highs and we don't, I don't, and we don't necessarily have to, you don't have to take out the lows from last week and, and go down.You know, the market has a lot of periods where it just does nothing. And shear feels like rain that now who knows how long it will persist, throw your trading fork away and start eating with trading chopsticks. That is my tip of the day. And my mother just said, stop picking on,okay, let's talk. And we have five minutes, particular time Dre, Dre days asking us to look at Avis. I guess we should look at Amos because we're looking at car again and my car is inflation. It goes up every. This has been the, the sh like, it doesn't get any love about this short squeeze of short squeezes.Anybody who shorted her car, thinking that while it's going to go the same way as Hertz has been absolutely annihilated. You don't want to talk about captain Kirk going to space it's Ava's budget. That's going to space as well. The stock goes up every day, ripping higher, another 10 bucks yesterday. I don't even think there's headlines.It just goes, I don't know when it stops, but this has been a rocket ship. It will come back down to earth eventually about holy mackerel, never short of stock making new all-time highs. And you know what, when it broke out from a hunter, we talked about how breakouts haven't been working here is one that went up 50% in 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 trading days.That is absolutely nothing. Short of incredible. Wow. What, what a move in the stock. I'm so glad I'm not. Uh, for this one. Wow. It did have a big range yesterday. I mean, the only tell me that a new, old time closing high by 10 bucks and the volume was pretty good too. One of the best volume days. And it had, so the high was right near, just keep track of those closes those old time closing highs right now it's 1 50, 3 39.So, you know, maybe if it kinda starts to fail and will not hold that area, but close right near the high, I will tell you when the last time we traveled that line was really long to get, uh, an Avis. So they're doing it right. I'm not, I don't know what the person wants to once off this. If you have a target at 1 53 85 and then take your target, but this is a rocket ship.Hey guys, I just want to jump in here right quick. About a week or so ago, we were looking at H T Z, Z. Look at it now. Hey, look at it now. Okay. This is off board. Just running started, starting to get a little run there. I don't buy anything. That's bankrupt though. I don't buy Dennis they're out there out of bankruptcy.Okay. In any regard, it's not listed on the regular market. It's listed on the Amex. It's not even on the regular Amex. So that's on OTC, Amex, correct? Thin that stuff is wild. That stuff. Isn't not for me. Okay. Uh, but good call out Mitch. Hey, a couple more from the chat. Good. Couple more from the chat. And then we have some announcements to make.Um, let's go with MasterCard here. I was doing, I think it's been stuck in a range, right? Copy in the middle. In the middle of nowhere. 360. Yeah. I need to clear three. Oh, that was real quick. I don't know. I mean it, off the low, it failed at 360. I mean, if you feel like this low or the move was, you know, that was it.I mean, you can lean on that 3 35 62 currently trading at 3 45. I mean, David's asking us to look at Bitcoin. We looked at Bitcoin at the top of the show. I don't know it hasn't done anything since then. Really. It's just, you know, we're down a smidge for the day, but, um, we also have, uh, I'll do it. I could give you a level here and pick, I mean, it's, I mean, for the, the, the speed that it went up, it surely is not coming down very hard.Uh, this is just the futures here, so I don't know what the 24 hour chart looks like on it, but for the futures 54 K I mean, as long as you stay above 50 4k, you got to be in the book. Okay. Couple of announcements. We gotta make quick. First, obviously, as Dennis mentioned earlier in the show, the, uh, Saturday pre-market prep, uh, three and a half hour webinar, this coming Saturday, uh, pre-market prep.com.I'll put the, uh, the image up on the screen, uh, three and a half hours of Dennis, of Joel and Rob freeze and talking really go more in depth on their strategies and how they trade. If you want a teaser, you're like, well, I didn't, I didn't do the first one. I don't really know what to expect. Here's what you can get a teaser.Okay. Two o'clock Eastern time today, Jay Dennis Joel, during their very first Twitter spaces on Dennis's Twitter account. I understand is that right? I've never done it before. So this could go very bad. You want to watch, if you don't want to watch me mess up a space. No, I think it's video too. No, it's not.It's not exactly.I'll put a link to the spaces. You can already generate links. I'll put a link in the chat there. It's in the chat right now. Two o'clock Eastern time. If you've never done spaces, I put in the chat, um, for those spaces, check it out. I think they're great. Honestly. Uh, I, I probably check out spaces a couple of times a week basis is free today.We're going to do you do, we'll talk a little bit of stocks. We're going to do a preview, obviously what we're going to talk about. It's not going to be a ton of education because we're going to save all the education, but we'll tell you what we're talking about and we'll do a little bit of stock talk as well.On the Benzinga Twitter, I believe as well. I believe it's going to, I'm not a hundred percent, but anyways, I guess he got it right there. The link. Yeah, the link is right here in the chat link is three. The educational webinar on Saturday is $900. That's because we're putting a lot of work into it. We can't, I wish we could do everything for free all the time, but you know, it just doesn't work out that way.We actually have some serious time and money put into, you know, when we're putting together educational webinars. So it's $99. I know some people say, oh, I get free education everywhere. I don't give free education anywhere. I don't give, like I give pre-market prep. I'll give you a little ideas. I give you stock ideas.I don't sit there and do three and a half hours of education ever for free because I can't afford to do it for free. So, um, people have asked me for mentoring nonstop. I don't do mentoring for the simple reason is that I just it's tough because what can I, what do I charge for mentoring? I've always had this conversation.I could sit there, but I've got family time. I'm trading full-time I don't have the time to do it. So for me to do mentoring, I would probably have to charge like $2,000 an hour and nobody would ever pay that. So that's why the webinar at nine, $9, you're going to get us for three hours. We group everybody together and there's lots of obviously education in there.So I don't think $900. I think it's, I would've put it higher than that, but $99 is the price on Saturday. So you get what you pay for, if you're getting free education, I always say out there, and yes, we give a lot of good stuff on pre-market prep.com or we give a lot of stuff, you know, on the free market show, but we don't give this stuff on pre-market prep on the pre-market prep show.So again, 2:00 PM Eastern time today Benzinga Twitter, Dennis's Twitter. The link is in the chat, but also put him on her pap.com. I'll put it up on the screen once again. Uh, on-site. There it is. Pre-market prep.com either you will be able to get the recording. And again, I know some people said that they didn't get the recording from the first one.You just send us your email, email, Joel, Joel benzinga.com. And if you're on the list from the first one, you will, we still have the recording. We can send it out. So we have the first event recorded. This one will be recorded as well. You will get a recording. Um, so yeah, there you go. So if you can't be live and get the recording to, okay, Dennis, have a great rest of your day.Second announcement I want to make is the Benzinga academy of Calibra conference is tomorrow. It actually kinda starts today. We're going to be airing our virtual track today 4:30 PM Eastern, but for the in-person stuff tomorrow and Friday, like today is the law. I mean, unless you want to risk showing up without a ticket and find one at the door, which may or may not work for you today is your last day to buy tickets for BZ cannabis.com to get your.Today, um, we're going to be doing, it's weird. It's going to be a learning experience for us because it's our very first hybrid event. Right? We've done the in-person, we've done the virtual. We've never done both at the same time. That's what, that's what this is. It's going to be in-person. And then in a virtual event is going to be, uh, in-person stuff that is streamed.Um, but that's all you get. You don't get the networking, the, the FaceTime, the one-on-one, that sort of thing. Um, Easy canvas.com to learn more about it. Who's going to be there tomorrow and Friday. Uh, that's going to be a wrap for us here. I'm going to end this show wive training with Benzinga with Mitch.Ryan's you need starting right now. I'll be back on stream at around 10 20 or so. And then I'm going to run with David Green from 10 30 to two 11, uh, today. Uh, so I'll see you guys there, everyone. You know what I haven't asked for likes it's it's hard for me cause I'm not, I don't have my usual setup. I can't really see all, all that I want to see.Right? 255 lecture. Now, can we get a 300 likes? I think we can. I mean, I'm doing this all from home streaming, from home. It ain't easy and I'm powering through for you all. So give me the 300 likes. I would appreciate that. Um, and yeah, please remember all the information from our showman to be used as informational purposes, not for investing or trading advice.Once again, everyone masterworks.io. I put the link in the chat at the top and put the link in the description of this video. It's there. masterworks.io, check it out and invest in art without being a billionaire. You can do it. All right. That's a wrap here. Live trading starting right now. Everyone has to get the rest of your day.Good luck out the open stayGreen. So you guys back on stream in like an hour.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

BENZINGA CANNABIS CAPITAL CONFERENCEThe premier gathering of cannabis entrepreneurs and investors in North America returns for a 2-Day Hybrid Event on October 14-15.Register hereGuests:Michael Pachter, Equity Analyst for Wedbush Securities 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 TranscriptSupport this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:Southwest Airlines cancellations LUVSupply Chain ProblemsCrude jumps above $81/barrel for the first tme since 2014Chinese stocks rally BABAMarket sentiment heading into earnings seasonHYLN,BYND,BROSGuests:Tim Quast, Founder/CEO, ModernIR and Market Structure EdgeTwitter: https://twitter.com/_timquastMatt Hammond, IPO Warriorshttps://www.Ipowarriors.comTwitter: https://twitter.com/warrioripoBENZINGA CANNABIS CAPITAL CONFERENCEThe premier gathering of cannabis entrepreneurs and investors in North America returns for a 2-Day Hybrid Event on October 14-15.Register hereMeet 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 TranscriptComing 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 bet the penny, I will buy the stock for a pet with everything that you need to start your trading day.Today is the last day. I want to have a camera. I promise because I'm getting my computer later today. My, my good laptop and I'll have it at home. Uh, while I write out my corn heated, welcome to pre-market prep though. I'm Spencer. There is Dennis Joel beyond, and just a sec today, the theme of the show is problems that technology can't Southwest airlines, uh, canceling flights, uh, this weekend for, uh, uh, we'll pick pick your reason really.Uh, cause they, they said everything. Um, it could be inflation, it could be supply chains, but uh, that's the thing of the shelf problems that technology can not fix. What talk, uh, Alibaba, which is higher again this morning, somehow some way. Um, so. That trade excuse is still on the trade from last week. Uh, we'll talk at Tim Kloss at 8 35 as we always do every Monday.And then I hope, I think we're joining. Yeah. Matt Hammond would join the show at nine and I, yes, nine o'clock today to a preview the weekend in, in IPO land. And, uh, give us his loss on the market. Uh, as we head into, I guess, as we head into earning season, can you believe it? Earning season starts and this week we get the banks.Is it Wednesday and Thursday? I think, I think it's one of the thinking Thursday. We're going to get the bank so good morning. Good morning. Good morning. Uh, Joel was here before I bring Joel on and before we bring Joel's charts on, wanna remind you all that the next pre-market prep Saturday extravaganza is this Saturday, this week.It's in what's that five days from now. Yeah, October 16th, 9:00 AM. Eastern time pre market prep outcome. That's how you find it. Pre market prep. Com to learn more. Joel Dennis, Rob freezing three and a half hours Saturday morning. Also the Benzinga cannabis conferences this week, Thursday and Friday. Go to BZ cannabis.com to learn more about that.Now, Joel will bring on your charts, sir. Good morning. And tell us how we're doing this more. Uh, good morning, Spencer. Uh, we're in the red by 21 and a half. Handles it, uh, 43 61, uh, gold or excuse me, crews making a big move to the upside. Uh, that's not good for inflation. It's up to 43 at 81 79. Gold is in the road by two 30 at 17 55, 10.So much for inflation hedge. Silver's in the red by 13 cents at 2257 Bitcoins. Having a good day working its way up towards 60 K that's up $1,915 and 57 0 9 5 and the theories. Take it a little breather down 49, 75 and 36 0 9 50. And that awkward. Hello? No, that's me. Sorry, I'm trying. I'm trying to sorry, my computer, when I go on mute like that, my computer is slow to bring me back.So I apologize. Um, so first off, before we go any further, we have to wish Dennis, a happy Thanksgiving today is Canadian Thanksgiving. I'm not sure what that means. I just know what to think. So it's the same as your Thanksgiving. It's just on a different day. Oh, it is. Yeah. Okay. So, okay. So happy Thanksgiving.Thank you for you on my Thanksgiving. Look at me. I know the bond market is closed, but Dennis has not. Yeah. So I'm here for you. No matter what the bond market is closed, the Canadian markets are closed, but the us markets are open. And I'm here for you to tell you my thoughts. And then I going like them.If you're long texts, dark will tell you that much. So our happy Thanksgiving, happy Columbus day to all, let's start with like the, the headline of the weekend. And then it'll go into that conversation, which was Southwest airlines, uh, had all kinds of problems. Uh, if you were flying them, I'm sure you know about it.Uh, they canceled, uh, over 1800 flights this weekend, uh, dramatically more than any other airline American canceled, 63 Delta canceled, three United canceled six, um, and Southwest basically blamed it on. They basically took a, um, a dart and it through to the dark board as to why they blame, they, they went and did on staffing shortages.They'll blame it on extreme weather and they'll blame that on air traffic control regulations. Um, and that led to almost 30% of their schedule on Sunday. I was reading. It was, you know, the conspiracy theorists are out there saying that all the, um, that there's, uh, they don't want to mandate the vaccine.So you had a walkout of a lot of pilots that don't want the bans vaccine mandates. I'm not sure if there's truth to that or not, but an Southwest comment on any of that, it's like anything it's like, I'm sure there are some truth to it. I know, like the airlines just, I don't remember who I think it was Southwest and you noted, just had a fi laid off a bunch of people who do, who didn't want to get the vaccine.Um, I don't know. I, that's not, that's not what, that's not what they sell. Oh, Southwest. That's not what Southwest. That's what everybody on Twitter is saying. So I'm not sure what is true or what is not true here. And you know, this is an issue though. Obviously the one thing we can say is you have seen a little bit of a reopening trade in the last few weeks.It has fizzled out in the last few days, last few trading days. And you look at American airlines starting to approach back to the lows of the move. Um, Al UV has been one of the, it had 10% move over a 10% move in a week and a half. Now we're pulling back. I don't know where this headline goes. It's not good when they're canceling flights is going to piss off a lot of people.But not only that it's like, okay, well, you know, what is the real reason? Why are you covering up the real reason? Why or are those real reasons something to get concerned that it's going to be more flight canceled? 'cause that's not good. You know, I don't know. I think like the fact that he was so concentrated on, on one airline, Southwest is not the only airline company I was in flights.They canceled though, right? I'm saying it's not good for Southwest airlines. The fact that it wasn't the fact that it's, the problems were mostly confined to them when they're, when they're not the only airline to mandate vaccines somewhere else. That's maybe not the case. I, I, I'm sure there is maybe some truth to that, but I, I don't think that's probably the main reason.Um, has a family member that works in there and he thinks it's 100% of both the airlines. I saw a lot of people talking about the vaccine. There's a lot of people talking about it, so I don't know. What's true and what's not true, but well, all we know regardless is, is again, of, of the, of the, of all the flights canceled this weekend, 99%.We're from one airline. So never a good thing. Uh, that's why the stock is down this morning. I would presume. Yeah. And they're in a lot of people, you know, obviously when he canceling those, that amount of flights is a lot of people that get stranded. Obviously it's a holiday weekend up here in Canada. Um, but you know, it's a weekend.People are traveling and doing things and obviously, you know, it ticks you off when your flight get canceled and you hear about thousand flights could be canceled wholly. So obviously stock gets slammed here today. When you got these kinds of headlines, it depends what the next headline looks like. Now, all of a sudden you got headline risk on this, Joel.And you know, we talk about different stocks. I try to often trade away from the news, but if I'm trading tactics. I try to trade away from the news for the most part, because we know when you got a next headline, you can say, oh, I got a nice set up here or bad headline comes and that can drive it down.Headlines, Trump, all. So, you know, you had a stock that was trending higher. You had a stock, those shorts in life. And now all of a sudden that headline hits and the stock, you know, it's gonna probably challenge, you know, that 50, 88 low from a week and a half ago. So what are you saying, Joel? Maybe not today.Uh, that'd be, you know, that'd be down another box 60. Um, if you've been waiting for a gap, fill here, uh, this little gap on September 30th, down to 52 and a quarter, uh, you did get it into pre-market. Who knows if you're going to get it into regular session, but that if you look at the upper right chart, Man you're falling into no man's land here.And Dennis mentioned the parallels at 51. So if you want to get it on the cheap, uh, you know, maybe not today, but you know, over the next couple of days, um, also Southwest has, uh, has a history of like coming out with some bad news and then coming out with some more bad news and, uh, you know, 18. Okay. Uh, so, you know, if you want to hang out for that $51 area, I'm going to take you to get a look at it.I think you'll get to look out eventually too. And, and also, uh, you know, I'm not sure what their, their hedging strategies are. Uh, but you talk about, you know, the biggest expense for airlines is fuel costs and, uh, crude's trading up to 40. Uh, like I said, I don't know their hedging strategies. So lot of, lot of negative things here in the airlines where the reopening, we discussed the reopening trade, where that's at, I don't know, but that hands-off on the airlines today.If you want to get cheap, put a bid out there at 51 0 5. If you're looking for a gap, fill on the upside, you need to get to 53 52. So I don't know, I would take a big pop, the people making money. And this is a good segue into our whole next, probably 25 minute discussion. The people who are making money trading right now, the people who are buying commodities, who are buying physical assets.If you're the user of commodities, that's not what you want to be in right now because you are seeing inflation something rampant in certain areas. I do believe we're going to see a hundred dollar oil here in the near future. Where are we now? Hi, the front month, canned contract, 81 74. I think you're going to see a hundred bucks.I mean, why not? You know, and I'm not a big crude long-term bull, but I will tell you right now, this is the type of environment where you're needing physical stuff. And I was talking obviously Thanksgiving weekend here in Canada is seeing lots of family, lots of my wife's family, isn't trades. And he started talking with them and talking about different things.But even just talking with another friend, he had a Tacoma that he bought, um, four years ago, twenties, 2016 or 2017 Tacoma, um, goes to the deal. He bought it for 40 2004 years ago. Brand new goes to the dealership, talking a trade in, you know, how much they give him for his truck. So he paid 42,000 for the Chuck four years ago.Guess what the dealership would give them for the dealership. We know you guys know $38,000. So a four-year-old truck. You can get almost what you paid for it. Four years ago, that's called when we're having problems, getting trucks, that's called demand and short supply and Mets you're in the background.You were saying the same thing was happening with you. So you can verify this conversation. Mitchell, you hiding back there. He's lurking. I just want to say that Luke is in the chat saying he had his flight canceled over the weekend. So I go, not home here. I don't know where Luke's at and he might be stuck in Florida maybe.Um, and, and, uh, yeah, so, so used cars, right? So you sparked, but we know that w we, we know that that's, but it's not mind blowing that you, you know, you think about the, what they used to always say, you know, even go back three, four years ago, you buy your brand new car. As soon as you drive it off. The lot, it loses like a quarter of its value.Not, COVID not this new environment here now. Now you get, you have to drive a four years and I hold. What are we in? This is the crazy thing is, is you saw this happening. What, what? Five, four or five months ago, right. Started happening. But it's going rampant right now. Like I know people paying above sticker prices for stocks.It hasn't worked itself out in five months. That's my point. It has to work itself out. That's the question like, you know, the supply chain, it's not just, you know, chips, it's everything like talking to a, you know, a plumber friend as well over the weekend. Same thing. Can't get, you know, it can't get the apex or pirate or whatever it is, the piping, you can't get that to the abs piping can't get that either.You know, they can't get a lot of things. So they're using different things. They're using more expensive things. I mean, you know, it, it, it's an issue. So, you know, and it's not just an issue chips, did they say, why did they say why? I don't know if anybody knows why on a lot of this stuff. Like, I don't know.Do we even know why, like the chip shortage, do we know all the reasons what's behind, where I talk about it and who's impacted by it? Do we never really know, like the deep down reasons? Why is it all demand? What, or is it all just, we just, we can't, we can't ship it over. Is it all stuck on ships? Is that what it is?It was one of the things where like demand went to zero and then it went back, it came back like overnight, right? Like, so that everyone shut down and then all the, all the manufacturers and they weren't prepared to ramp back up. Right. So, so now they're playing catch up. And also you had that fire, you had that fire at the factory that makes half of the chips for cars in the world, in Japan that didn't help things.Um, so maybe it's just a question of like everyone prepared for a warm winter during COVID and when demand came back two months, Then everyone was caught off guard. Um, but you're right, Dennis. No one really. I'm sure that's the only, oh, there's a number of reasons. And then you can go back into the labor shortage.Probably one of the main reasons for all of it, because we've, we have a labor issue. We have a labor issue where there's a lot of people who obviously are not going to work for minimum wage anymore, or they're not going to work and you know, or they're just not good. There isn't a demand to do it. And COVID did change like the mindset to where family is more focused.So if you were close, I talk to my, my neighbor. Now here's a prime example, three years from retirement. COVID hits like not taking early retirement. So there, you're seeing that, you know, where people are close to retirement and they're like, okay, I'm out to it because you know what? Family is more important that you start to like prioritize what's important life.This whole pandemic did that change the mindset to a certain extent, to a lot of people live to work. Um, but now you're seeing a lot more people, you know, that saying I just work to live and you know what I want. You know where you're sitting, you know what you're seeing, uh, uh, uh, the biggest shortages and the most concerning health theory to healthcare, to healthcare James, with the big word stagflation, you can't, you can't get people.You can't get nurses in hospitals. Now. They are they're, they're actually paying traveled nurses. Like, I didn't believe the figure that Lisa told me that they were paying people to go out, uh, you know, billings Montana or something, but people are like, they're, they're going, they're going to be moving to uprooting their family for three to six months.And they're making more in that time period than they did in, in two or three years, just because of the shortage that that's the biggest economic impact that people don't realize from COVID is the toll that it's taking on our healthcare system and people who wants to be a doctor now who wants to be a nurse now who want to get out.So you have shortages now and you have people not wanting to go into industry. I mean, that, that is my biggest concern. The question is, is this, sorry, Spencer. I was going to say, is this all transitory? Is this really all transitory? And like, I'm asking, you know, chat, you got. Do we get through all these shortages?Do we get through these labor shortage? And we look out like good tear crystal ball and try to project it 12 months out, 24 months out. Are we past these problems and to go back to business as usual, or is this a new world where it's actually going to be, you know, inflation, we're going to have inflation involved.We're going to have labor shortages for the on, you know, for, for a longer period of time. And you know, the big word that James just said, stagflation, is that on the table here? I know you brought it up last week to Juul. It's a word that we have not used, you know? And I have not heard from in probably decades.You think about stagflation and if you just don't, if you never heard of stagflation before we can just go and give you the actual meaning of it, read it. So I don't butcher it, but you know, stagflation obviously increasing prices is a big part of it as like Google ads. So a situation which the inflation.Is high economic growth rate slows and unemployment remains steadily high while the unemployment rate is low. But the main reason the unemployment rate is lower than it was. Okay. We can say it's lower, but it's not high for one reason is that you, because to be included in the unemployment, if we clued on labor figures, you have to be seeking work.We have a lot of people who aren't seeking work. So maybe, you know, it's not as high of employment, but it's not going to show up in unemployment stats. If a lot of people are saying, I don't want to go back to work. So that's, you know, what's throws off the stats too. So is stagflation the question because we don't really have, you know, steadily high unemployment here right now.But at the same time, if we have a lot of people that were willing to work two years ago, now they don't want to work. Is that really, you know, uh, indicative of, you know, oh, just everybody that can get a job and they can, I mean, you can't get a job if you want to get a job, but it stagflation on the table.I, I, I dunno. I think part of what makes. It's so difficult is like, unlike with a pandemic, like there was a lot of unknowns last spring, but the one thing we didn't know was like, Hey, if we ever get a vaccine, then that will change the game. And then it, it took, it took six months, but we got a vaccine.Right. Um, but with this, literally, no one knows, like nobody knows. And that's part of the problem is because no one knows there are no expectations. You can't say you, you, you can't set the bar and, and then try to come in above or below because there, there is no bar, like what are you going to say? Six months?That's that's a guess. That's a guess. It'll all be better in six months. We don't, we have no idea. There was no, there was no frame of reference for anyone. All you have is the word transitory, which just means. Temporary, but temporary is like, this is bad. And there's nothing else that they can say. We've said this on the show a dozen times in the last month, there's nothing else they can say.They can't come and say, this is sticky and sticking around forever because then they have no excuse. They need to start jacking rates. Because the only way you can really control inflation is to start raising interest rates. And you can't raise interest rates because the whole entire us economy and the world economy for that matter.And you in China, it's built on debt. So you can start raising rates significantly. You can raise them a quarter of a percent. You can raise my half a percent. Is that going to slow down inflation? Probably not start raising the two, three, 4% it does, but then everybody loses their homes. Then he got major problems going on.So, I mean, there's really stuck. I don't know. Even, I don't even see the solution here. That's why they keep digging the hole. Okay. So, so now here's the question because no one really knows, right? It'll work itself out when it works itself out, whether it takes two months. Two years who knows, but all we Indian environment now where technology stocks, because technology companies have been your best play for the last 12 years, um, where they are not your leader, because these are all problem.Most of these problems, most, not all, but most of them are problems that are irrelevant of technology, right? Technology can't fix a supply chain shortage. They can't fix a labor shortage or maybe kind of a little bit, but it, you know, it, it can be, these are problems that are not solved by a new app. You know what I mean?Or like a zoom video conference call. Right. It's like, it's bigger than that. So, so the question is, do, do you want to like Dennis talk about commodities, right? Being in an inflationary environment, you do you want to own technology stocks right now? And when I say right now, I mean like going at 12.Because we all, man, listening to you, two guys, go on. I don't, I don't want to own a shoe, anything. Yeah. But, but that's, doesn't work though. If you go to cash, all you are definitely getting killed. So, you know, I have traders in our affirmed bright trading. They make pretty good money and they're like, I got to get buy.They're buying. Like they're still buying houses. They're still buying stuff. They like scared to be in the buying crypto. They're scared to be in cash. There is literally a lot of people that are actually scared to be in cash. And I'm kind of wonderful. I mean, I have quite a bit of cash sitting there and I'm like, it's been the wrong play because yeah.You know, the markets haven't really gone anywhere, but my cash is getting just slowly deep deteriorates in value because of inflation. So the safest play really, if you want to fight inflation as a commodity trade it's to own stuff, real estate it's to own stuff. But then again, you're paying, you know, in a bubble, you're paying an, a bubble pricing for some of this stuff, but that's been where the money has been made in physical assets.Use cars who makes money on their used car. Who makes money on the used car? We had three people when we were having that conversation in the chat saying they sold the car that they bought for more than what they paid for it. Who makes money? What environment are we in when you make money on your used car?Use boats started last year. It's incredible. We had a couple of cars come up leases over the last few years. And I was just, you know, and I looked at the, this is really before couple of them we bought before COVID and I was like, and I never do that ever. It's like, oh, you can't, you know, you're getting ripped off.If you're buying a car after you, at least there for a couple of years. And I'm like, I don't care. I own the car. And then, uh, we did that. I mean, we also have very, very low mileage on them. So Dana is going to do the same thing as you know, she's got a Elise coming up. She goes, yeah, I would get a new car.There's no cars out there, you know, boom, throw the cash down and driving it, you know, drive it into the ground. But, uh, man, you guys are, I mean, and arc investment is going to be, if, if we do stay, if the inflation stays, that's the way wrong. So it's going to be high growth tech that gets hit. And why again, because I want to explain it to people who are new to, you know, to new to the show.We've explained this before, but if you have an inflationary environment, high growth tech is a play on future earnings. Those future earnings are worth a lot less in a high inflationary environment because cash today, because you can spend the cash day is worth a hell of a lot more than cash tomorrow.So when you're buying these high growth plays, that don't matter. They're just burning cash. Those aren't the, what if it does well in an inflationary environment because those future earnings are worth less. And that's why you're seeing tech stocks, some of the future, you know, some of the smaller tech stocks really struggle in this environment where obviously you've seen the commodity stocks like Exxon Mobil and Chevron, and you know, the steel stocks have come back off a certain extent, but it's still up significantly and full disclosure.I'd be a buyer of steel stocks right now because I think they pull back enough. I do think they start to eventually go back to the highs and the move. That that's where if you believe that the inflation isn't going away, that's, you know, if you, if you think this inflation and, and Kathy would've been on CBC and she thinks it is transitory, and that's why she's positioning herself and buying these high.And she might be right. If the inflation goes away, she'll end up getting paid for that call. So right now, your investing strategy, long-term investing strategy is all about whether you believe this inflation is going to be sticky and stick around for a long time or other. It really is transitory. And one year from now, we actually have falling prices, or we have, you want to get back to the business as usual.I don't know if anybody has the answer to that, then they'll go up. But when they start to come down, they won't come down at the same rate that they went up. Th I, I, it's hard for prices to go down it's labor. So one thing people are asking more money for their jobs and they're getting it. How many people take a pay cut?You don't often you might be able to get your gas price down a little bit, but you don't get a lot of people taking a pay cut. So I think any increase in labor. Is permanent. You're not going to get the labor costs back down. So as you increase, you know, people are paying more or they have to, to get the people.If they don't want to work, they got off for more money. I mean, those are more permanent pricing now, you know, it's the price of lumber come down. Yes. As the price of some other commodities come down. Yes. Some, you know, obviously oil, no oil is starting to break out and go up again here. And I've never been an oil bull, but I'll tell you in this environment and inflationary environment, oil is probably going to continue to go up.Maybe the bottom line here is you got it on physical things. I don't think the answer, the answer is not going all cash. Just to be clear. I don't think that's the answer, but, but maybe, maybe I, maybe it's owning physical things over digital things for now from, but the digital assets are doing pretty good too, because crypto is the new gold and you can see, this is just, this is incredible in itself too.And every single economics book is a fail on this one because the best inflation hedge is supposed to be gold. And this has just been incredible. We've got inflation. Like we haven't seen in 25 years and gold and silver is going down. I mean, that's incredible in itself. I don't is it there? Is there a potential catch up trade eventually in gold and silver?And we had this question last week, or is it just the fact that maybe gold and silver? Isn't the gold silver. It used to be, how long is it until gold starts trending on Twitter? Right? Because everyone wants to play the catch up trade in gold. That's going to happen. And that's going to have the you right now.I mean, relative to itself, I mean, we are sitting near them. We're just sitting there on the 20, 24 off 2021. Lowe's I'm I'm, I'm calling it now. That's going to happen this year. So should we be buying gold? We don't own any, I mean, either, I don't know if I really want to, I own a little bit of crypto look at the Bitcoin.Doesn't look like it wants to go back down. It looks like it wants to make new, highest to me, that chart when I'm looking at. This isn't very interesting conversation. Obviously we have our investor's hat on big time here right now. We're trying to project out which isn't my cup of tea, you know, projecting prices a year from now, but it's an interesting discussion.So I know there's a lots of, you know, the textbook would say, if we're really going into this and this inflation sticky, the textbook would say economics textbook would say, buy gold, buy silver, but what hasn't been working and why, if it hasn't been working up to this point in time, is it going to just start working all of a sudden, maybe there's a catch-up trade or maybe it's just not what it used to be.I bet you, there was a catcher trade only because it's the most obvious thing in the world. Let, let, let's go to China for a second here. Cause that trade, I don't know how long I thought it was going to is going to go on for it, but it's still going, I guess I thought maybe two or three days, but no, we're we're on week two now.And, uh, it's still known. Wow. Yeah. What a turnaround. I mean, Alibaba, we called that. I did not think it was going to go up. I said, eventually it's going to have a 10 point squeeze had it two days later, that 10 point squeeze is now turned into a 30 point squeeze. It was too easy on the shorts. Now, all of a sudden it's like, everybody's looking at Alibaba thinking, man, I want to pull back.And that thing to get in, including myself, I have some of the long-term portfolio, but I wanted more on for a trade and I never did it. Should it did it. And hopefully some people did, but wow. I mean, there's been a turnaround, not only obviously in Alibaba, but you go to the E M you go to the FXI maybe a better example.I mean, we're up significantly three days in a row now. So this is, you know, September was a really ugly month for the FXI and basically we've almost got all the losses back from September in course of three days. So nice. Uh, it's, uh, I can't, I saw the name of the company on CNBC, like mew, Trent, Merck, Tran, or something like that.They were expecting like a huge fine on that company. And it was only half of what it's T they believe, uh, uh, Chinese technology companies. So once again, you know, it's the news, I mean, absence of bad news and or good news is WhatsApp propelling a that the Ali Baba hair, I chose the name. I mentioned that whether that makes riding on a scooter down on main street, where it's a picture of him on social media, he was on Instagram when he caught him on Instagram.That's why it's going on. He was riding on a scooter. That's a joke. It's not sure. The 4:00 AM open was a little bit overzealous air. We got over 1 72 and now we're leaking a little bit. I'm not sure if there's anything on the dailies at 1 72, once again, just a news driven marketing. If we did a get up, if we did get a pop to 1 71 64, just technically speaking, that was your high on September 10th.Uh, but just starting to come, come in a little bit. It looked like that pre-market high looked safe. And then man, now you just got another daily gap the way down here to 1 60, 2 78. So kind of hired, unless you just taking this thing overnight to catch these moves. Sometimes you catch it the right way you sped.So you were talking on the, on the show on Friday, like what'd you just lay out a shorted, some level in this thing and it's just like, man, calm down. So, you know, I don't know, maybe 1 72 was a number, but it's coming in. Maybe you get a nice pullback. Maybe somehow you make a high in this area. I don't know, 1 72, 1 73 or something.Then he gets more bad news and you drift lower and you get a chance to buy a little bit of a discount. But, uh, since Charlie, since Charlie made that purchase, we talked about that. I think on a. Yeah. I wrote a triple D's call up on that one yet defined risks down there. And now that defined risk 1 41, 1 42 is when we were talking about it.And, uh, that defined risk is looking pretty good right now, shorting volume. And now is the equivalent of buying it like a month ago or two months ago, right? It's hard. Like, yeah, you're shorting a rocket ship. You're in rocket ship mode. I don't like shorting rocket ships. I mean, we're up 10 up 10 up basically 10 bucks every day for three days go one 40 to one 70.Incredible move. It looks to me like that 1 78, but I thought it might stall out at one 60 and it just had like that level through like a hot knife through butter, but rocket ship blasting through the ceiling, 1 78, 1 79, I would think would slow it down. But who knows? I mean, I'm still long at long-term account pullbacks, maybe again interested, but.I'm more interested in buying the commodity stocks on pullbacks. To be honest, I'm more interested in buying. I mean, some of the steel stocks have not, you know, like us steel sun, andthe steel stocks have not participated. They have not been participating and maybe, you know, the let's give it, give them credit where credit is due. I mean, Cleveland, let's go to this one. What's $5 and 2020. And I went to $25. So, you know, at a certain point you can say, oh yeah, it's trading three or five times earnings, but these is, you know, we've said this before, is this as good as it gets for this environment for steel as well?But I don't know. I just think prices pricing of commodities, including steel it's may continue to go higher. And obviously then you look at those Turks and you think, okay, well, if you want it to dip, you gotta dip on these things. CLF had news today. They're buying, uh, Ferris processing and trading for total enterprise value, $775 million.So they're making it, making an acquisition. Um, but I don't know. Oh, that's that's capital one, Joel. Well, what did you say?I'm like Cleveland cliffs. Yeah. Yeah. Yeah. So I don't like those. The monthly looks pretty good to me. I don't know. No, still trending higher. I would say if you were putting it on, we always say you can put any trade on as long as you know where your out is. It's very defined. I mean, you have look back the last three months back in June, 1895, July low, 1851 recent low in September, 1880 six, nineteen thirteen.And you can call it four lows right in the same area. So you got below 18, maybe you cut it out. I'm long, full disclosure, one Cleveland cliffs. I stuck it in the longer-term account. I'm almost tempted to buy.Like, I, I feel like I needed to take away from this show is I need more physical world exposure. Uh, I don't know. I don't know what yet. And I don't know, I don't own any oil, maybe the top on all this collapse coming, but yeah. That's the other thing you gotta look is like, you know, okay, well, the commodity is good.No, one's going to be able to afford that before this stuff and build the stuff right. Well, eventually they will, but if there is an argument there eventually prices go up enough. It does hit demand with Lavelle. That's why lumber got silly and people stopped building decks and stop building stuff until it came down to reasonable pricing.So I forward four years already by now. There you go back to a firm. Look, you can bring it straight back into a car, bring it back to a, for a rock and a boat. The stock that Spencer man. I know, I guess we can't use stops in this environment, but I tell ya, this dock is maybe you think about what technology stocks have done and they've done.Most of them have done a hell of a lot of nothing in the last, you know, three months it's been not that great. You can bring up a R K K and you can say it's not been a great environment for growth tech. I can. The last you were in a. And affirm has just been an absolute monster. We talked about this on the show at like $65.And I was like, I should buy some of that. And I never did. And then Spencer actually did buy some and he got stopped out. But regardless, I mean, $141 a day stock made a new all-time high again on Friday, no point worrying about, you know, in stocks, making new all time highs and keep riding them. I bought at a hundred sold at 90, like the genius of Dan.Yeah. Got it. Got it. Got close to the old time high. He actually had it all time high, uh, at a little bit higher, 1 46 90, but that was in February. Oh my gosh. Joel here. Right? I didn't even realize the firm had been hit so hard. It was back after the stock had its IPO three days after it. Maybe three days after I'm the weeklies, but 1, 2, 3, 4, 5 weeks after the other thing too, is it P pay later?Is you, are you paying in flight inflation? Yeah, that doesn't sound that great. You paying more money later? Yeah. Maybe. Well, no, but if your price is locked in, so maybe it's not, you're not actually, because I don't know how it works. I usually pay off my credit card every month. So I don't know if your price is locked in.You're getting a better deal. I mean, somebody was saying to me, I was leaving. I was joking online for that business. You were joking too. Like the best business model could be, you know, buy now pay never. And then somebody said, well, that's MasterCard's business model. I was like, oh, it actually is. They love that when you're buying your credit card and you'd never pay it off and pay those 18% rates.All right. So it's him and get his thoughts on all of this inflation talk and he will talk market structure with this year right now. Let's do it.I look forward to that every Monday,the day is not come. It just doesn't get off to a good start unless you're doing that. So it's really dark outside where you are. So we can't tell where you are right now. I am in Steamboat, Steamboat Springs. And, uh, I'll tell you, it was just spectacular yesterday. The, uh, so that direction is Mount Werner, which is about 10,600 feet.And it was, it was, it was snow covered and a little crown of clouds around it. And yet about halfway down the mountain, the aspens are still orange and yellow and red. It was just, I mean, we, if I get to be here all the time and I'm still just stunned by how beautiful. So, uh, that's where I am. Yeah. Yeah. I see.You've got Jay Powell with you today. Yeah. We have special guest on the show here and we were asking just for supporting, well, good thing. You're talking about buy now pay later then, because that's the, I mean, that is the, that is the Fed's mantra.Don't worry about the cost. Just spend that's and spend what we've had a long discussion here. We've been talking inflation. We've been talking obviously a lot of things that you know, are out of our control with the supply chain. We've been talking about labor shortages. We haven't been talking that nice about technology stocks here really this morning, because the one thing is when you have higher inflationary environment, high growth tech, doesn't do as well.And we've seen that if you can look at. Who is a great indicator for high growth tech. It's actually not too far off of its 52 week low. And then you have commodities that are just blasting off oil, making new highs, looking like it wants to go to $100 a barrel, but sometimes you get the Tim on here and he can break down and look into the market structure and look and see what's under the hood.And that's what we want to do with you today here, Tam is what's under the hood here. First. Let's just talk technology, technology stocks. Okay, well, and the point from a trading perspective for, for folks who use a edge market structure, edge.com, uh, the whole point is we want to follow the money who cares really ultimately where that money is going.I mean, I think it is it's, uh, it's part of being a well-informed citizen of the Republic to understand how some of these things work. But ultimately what we want to do as traders is not confused, busy with productive, a great line that I got from an Israeli, uh, finance executive who told me, Tim, we try not to confuse busy with productive, and I thought that's a useful line.I'm going to make use of that. And it's very easy to get caught up in that traders where you think, well, surely. Tech has got to do well. And then it's not doing well. You see energy doing well. We want to follow the money and take advantage of the swells that it creates in the market and then leave before the wave disappears.So how do we think about this from the standpoint of an inflationary environment? Keep in mind that inflation is nothing more than your money. Doesn't go. As far as. It's that's the way to think about it. I, Spencer and I talked, I think I was driving Spencer crazy with this right, Spencer. I w I think it was on Thursday.Was it Thursday or Friday? I can't remember. It was the day. I know, I know it's the same to me. Uh, but I, I like, this is my point and we'll talk about energy because really that's where the money has been. And we talked about it last Monday. I said, if you look across the dashboard at edge, clearly the best thing is in.Uh, I bought AMR and GM and Nokia. All of those did six to eight times better than the broad market I bought and sold them all last week. Uh, again, just going where the money is, we talked about GM. I was wrong on one account. It did not become a meme stock, but I was right. That it would go up six or 7%, which it did.And so we'll talk about where that money is going. Here's the thing to understand everybody, you know, you, you want to clear a room, start talking about economics or monetary policy or even market structure, but this is the constant. It takes people and money to make stuff and to provide services. So if we want a lot of that occurring, then we have to have a stable currency.So money has to be worth something predictable and wages have to be predictable. If, if the government intervenes and says here, we'll give you a check. Then labor becomes more scarce. There isn't enough of it. And if the federal reserve increases the supply of money, it takes more of it to make stuff. So those are the two things that undermine growth.If you discourage people from working and you create more money, it has the opposite effect of what it's, what the government is telling us. It should have. Well, that's not the stuff we want. Prosperity always comes from knowing what the value of money is so that business can get more efficient. And the cost of things can go down.That's what TAC has traditionally done. A, an iPhone goes from costing a fortune to being approachable by everybody. How does that happen? Well, PR productivity improves the distribution, the production of goods. It gets more efficient and that, that gets very difficult in the current environment. And that's why T tech is struggling.Uh, so we want to think about this traders and you don't even have to think very hard about it. All you have to do really is look at the supply and demand of money. And if the supply of money to the fangs is diminishing, don't buy the fangs. Where's the money in. Energy and financials. Why is it increasing?I don't even care that much about it from a training perspective. All you need to worry about is where the money goes. Sure. I can tell you why. If interest rates go up, financials are going to perform better. If there are more dollars in circulation, the cost of energy is going to increase and cotton.Cotton's at a 10 year high look at copper, pick your, as you said, Dennis, look at all the commodities. Why are they more expensive? Because the denominator money keeps shrinking because we're creating more money than with the output that is supposed to support it. That's why this is all occurring. So if we wanted a beautiful prosperous economy, we would want money that had stable value.It's not more complicated than that, but that we don't have that. So we have to adapt to it. Right. That's how it is. So broadly speaking, what, where is the. Said to me right now at this point. Cause I mentioned at the top of the show, we do have earning seasons kind of starting this week with the bank, speaking of the financials and then more so next week's right, right.Let's well, let's look at it. You know, I love to do that. And traders, this is to me, what makes edge very simple market structure, edge.com. You can try it for free. It's a, it's a way to just take, take, take two weeks and think about supply and demand. If it's not right for you, don't worry. We don't care. We don't require any commitment from you.You can just try it. So, uh, so here's, here's how we think about this. Uh, the money ebbs and flows. And it does. So in measurable ways because of market structure, which Dennis is an expert in, uh, that's the, the rules that govern how trading works, uh, on what I did the demo on Thursday, uh, I show, I use my own interactive brokers account and I showed everybody how my stuff is trading.You know, where's it going? And how come it gets all that most people don't realize it's all fragmented. There isn't a lot of supply in the market actually, but that makes it measurable. We can see supply and demand. So suppose that the market had a supply demand scale of 10. So the closer to 10 you are the better from the standpoint of excess demand.Well, here's the broad market right now, Spencer it's 5.1. It's almost dead even. And if we looked at that pattern over time, what we're showing here is SP. Uh, that state street ETF that tracks the S and P 500 and the underlying waxing and waning, ebbing and flow of domain for S P Y. And the stocks that comprise the S and P 500.That's it? I mean, spy is really a derivative. It trades in place of the 500 stocks in the S and P 500. So you don't have to own them all. Uh, but notice this one Senate, when, when demand hits a peak and begins to decline leave, you may not be exactly at the top, but you're going to know when demand, bottoms and begins to rise.I had a great week trading last week. Uh, then you can return, but return to the things that have excess demand, I'm telling you it's not more complicated than that. So let's look at, uh, let's look at our own portfolio. Just going back to that chart right there. Could you go back to that chart right there?Absolutely. Let me back it up. I mean, is it that, I mean, if you're looking at like the price and then the levels of demand, it reaches doesn't yet that look like you're getting lower highs in the chart and then lower highs in demand. Yeah. Give you a very isn't that a very bearish looking chart. Yes, it is.Joel. Yes. That is a very astute observation. And if you go back, let's just go year to date. We started the year with a very strong momentum market, because look at the peaks. This is like the backbone of the continent, the Rocky mountains. We've got shifts. We've got staggering peaks. Well, now the mountains are old.It looks like Vermont. I mean, they're just right there. Just deteriorating. And you're absolutely right. That's why I think we are at great risk. We have been in accelerating risks since April of a significant pullback. It has it's there's, it's, I've used this line before. So if you, you know, and it's not because my mental faculties are deteriorating, wholly, they are deteriorating.Uh, but it's a great line. It's a line from the sun also rises Ernest Hemingway book, and the two characters are talking and one says to the other, well, how'd you go broke. And he says, slowly than all that. And then it's, it's how the market falls apart. It does not fall apart all at once. And you go show Zion what happened?No. It started to deteriorate here that traders, there, there are plenty of opportunities to trade. You just have to look where the money is going. If the money stops going to the whole market, is it going to tech? Is it going to consumer discretionary? Is it going to large caps? Is it going to small caps?All of that is measurable. And you just want to put yourself where it is. I only trade 30% of the days that the, you know, the market has 252 trading days in a typical year. So 30% of the time I'm trading stuff. And, uh, and, and I, I crushed the broad market by following demand. Uh, but you're absolutely right.That is Joel. You'd look at this pattern and say, well, those peaks are getting weaker and weaker and weaker. Well, that's a, that's a sign for us traders. You should not have all of your money exposed to a market where the demand is beginning to weaken. Now you've gotta be very selective and we have options expiring.Starting Thursday, Thursday will be index options, expirations Friday, triple, which then Monday a new stairs, Monday, the new series in a weakening market. It tends to be when the new series trades that the trouble occurs and we've been having that happen repeatedly happened here. Happened here, happened here.Happened here happened here. Is it gonna happen again? Well, I can't tell you, but the math would tell us, well, I should be pretty cautious around Monday the 18th and I can't see you can't peg the day. It's so massive. The market is still massive. You cannot predict the day that something will happen, but you could look at this and say that the supply demand equation, Joel, is that you're exactly right.It's deteriorating. Exactly right? Yup. So yeah. Let's, let's go look at one thing before you do that, Spencer, because I want to talk about affirm. Let's talk about it. And then look, here's the supply demand balance. In this portfolio, you can see that demand is well above five, but flattening in whatever. The 10 components of this Benzinger October 11 portfolio, our energy is the lead sector.Fast trading machines. Just want to fool. You are the top behavior short volume. The supply side, the trend is up the last few days are down, so that's not horrible, but there's something in there that's helping us. So let's go look at it really quickly. And so if I look at, you know, who's at the bottom Palentier, you know, Palentier is a one and bottom than 42% short and the short trend is.Uh, that was the closing price. It trades $5,500 at a time market caps, 44 billion key behavior passing money leaving. And it's in the tech sector. Well, what's the best. Well, look at the ones at the top. It's all alpha AMR stock. I like to trade 10 out of 10 30, 2% short look, diamond back marathon. Devin has all these stocks were up 10 to 11% last week.You want to go where there's excess demand. Now you'd say what they're all taught. Yeah. And I think when those deteriorate get out, but it could give us another 2, 3, 4 days of gains in energy. Oh Tim, when they get out, I mean, come in, you can buy the 10 because that's the strongest stuff you'd be going into.But how do you know, like when it's time to ring the register key, right. Entries and exits all trading boils down to entries and exits. So by rising demand. So, you know, I bought, I bought, uh, a book. I bought GM. On Monday when we, you know, I said, well, it looks pretty good. So when sentiment began to deteriorate and short volume jumped above trend, I left, you could still get some additional gains, but I'm happy with my six or 7% gain there.And I leave. But the, you know, there always it's, it's falling demand by rising demand, sell, falling demand. It's you're, it's just like surfing a wave when the wave begins to deteriorate, your ride is over and it's that simple and it's not perfect. It's not perfect math. It's just better than all the other math.And that's what we need. So that's it by rising demand, sell, falling demand, be very aware of options, expirations and month ends because all the chairs shift one or two, two to the left or the right. And you have to realize it's going to distort the wave, but that's how you do it. And you repeat that over and over.You don't have to own 50. I've rarely own more than four or five things at a time, because I'm not smart enough to watch more than that, but that's all you really need to do. Traders. It's fairly simple. All right, Tim, Quoss joins us every Monday from market structure Mondays. He's the founder and CEO of market structure, edge market structure, ed.com.Tim, always a pleasure. We'll talk to you again next week. Good to see you. My friends have a drink. Hey, it's age 52. Let's unless there was more stuff on our list. Let's do some, uh, ticker time here. Um, if we can, from the chat, there's a few things, very few tickers coming today, but we got the first one Martin's got so far going.You know what I think? So if I got another upgrade today, I think thatit was, I think it was like two hours ago. I saw that.Or did I, did I imagine that I thought did I it's possible. I actually have to the ratings today here, uh, for the most part. So, so if I train up 4% here, I had it on for a while. I bought it at $14. It had the nice big move to 18, then it pulled back. And actually, I think I sold it a couple of days ago because it didn't make a new high on that last candle and made me nervous.So I'm out now out of my self by Morgan Stanley initiated overweight and it twenty-five dollar price target needs to get up. It needs to hold over the candle, the 1709. It's critical for it to do that. Um, it's been holding up very well though. I mean, I kind of, you know, I was kind of on the fence on this one, but I'm, uh, but I did sell my stock a couple of days.17. Oh nine up to 17. 17. Now was your September 29th high. You're pressing, you got a bit here, but, uh, we'll see what happens at those two levels. If in fact it can clear seventeens had a big run, but, uh, that's where it stopped. Uh, twice since the end of September. We'll see what happens in today's session.Pre-market highs off of close to that, to that is 1695 and they're swinging volume in is one today. Really good volume. All right. Levi asked him what a highly on that's catching a downgrade. Another downgrade this morning. This one is from UBS downgrade to sell, giving it a $5 price target. So, uh, approaching a new all-time low.If it's not an all time low. When I say RSA, just rate these ones down with stocks and make a new lows. You got. And you never want to own a stock making new all-time low, just like you never want to be short a stock making a new all-time high because you know what, it's all paying ahead. It's all overhead supply and you have all the people that I finally just had a breaking point.So, I mean, it's tough. It's been a tough Evie trade for a long time for a lot of. Um, and you're seeing, you know, the repercussions of just too many companies trying to all do similar stuff. And you're seeing a shakeout here of who is going to be the leaders and who are going to be the laggards or the non survivors Helios.I want nothing to do with this doc 7 54 was a level Dennis was talking about, uh, we have breached that level. So if you want to use that as resistance, you can, it's 21 cents away. I'm sure a lot of people love to see the clothes at 7 82, but a former old time loan, 7 54, ah, here's one, uh, beyond me now allow me to posit a theory here and now I know we spent 25 minutes.This. Uh, I know we spent 25 minutes this morning talking about supply chain problems and how messed up everything is and how that's bad. Let's try this theory, that supply chain problems is a bullish indicator and here is why it means that there is demand for your product. If you have no supply chain problems.Now, does that mean that no one is buying your product? I have not heard any complaints, any, uh, any, have you seen any headlines about beyond meat shortages? Not to say that they don't exist. I just haven't seen it, but, um, how, how how's that for spin supply chain equals is bullish because it equals demand.It's beyond me has been like an unbelievable stock to hold up as well as it has on veggie burgers. I just think eventually there's enough other veggie burger competition that, you know, and obviously, you know, they've done a lot of things, right? The companies, you know, I've tried them. They're pretty good.I just can't understand it. Wrap my head around the valuation. I can understand and wrap my head. I think the story has cooled off substantially. Is there more pops? Do they get more contracts? Yeah, but every time they get a contract, now it is met with more sellers into those pops. So I think eventually the stock is going to go a lot lower, but I was said that a year ago when the stock was right around the same price, probably like $110.And it went down to like 50. Why not? No, actually, I don't know because we were perished before, even before COVID started. And then it came all the way back and it got to $221 again, which is unbelievable. The February, that January of 2021 that bailed out every bag holder and every stock. If you didn't get out during that time, you missed you're out.Now you look at, and you think, is this ever going back to 2 25? I never can say never, but I don't think. I bet you, if you go and you look on that day, when it did go, uh, trade over 2 25, almost guarantee that there was a headline about, uh, a burger deal with yeah. That's what was driving some burger deal.Now they're all they got to deal with. McDonald's they got a deal over here. And eventually, I don't know, uh, their support. I mean, I'm sure this person is looking at it, you know, like for, from a buy perspective or retail trade, you know, most. Do and it's most of the, market's been an uptrend. You're leaning on the low of the move at 98 90.You've had a couple of lows around a hundred, it's holding up. So it's a low, lower risk long, but you take out this 98 90, this hundred dollar level. Your next monthly low comes in at 88 51. And just on the upside, I mean, there's nothing exactly at 1 0 5. Uh, you had a high just under 1 0 5 yesterday on Friday.So these, you get above 1 0 5 to have a sustained move to the upside. Just kind of quiet, just laugh. It's just like nothing. They're kind of like the burgers. And then just to follow up from, uh, from Friday as someone just mentioned Dutch brothers, the analyst's quiet period is now over on B R O S. So if you're looking at this morning, you're seeing like a half dozen ratings on, on Dutch bros.Um, all positive, no real surprise there. Um, but here I'll, I'll just read you off a few of them this morning. You got JP Morgan, uh, overweight price target of 47 Barclays, uh, neutral price target 40 Piper Sandler, overweight price, target 60 Baird outperform price target 56 B Evey by price target 55 Cowin outperform price target 50.So that's a range of 40 to 40 to 60. For a Dutch brotherscoffee shop. I am, I'm limiting my comments on this. I limited in my comments on Friday 41 and a half, we got about 45. Maybe it starts to get interesting again, but it had its run. You got some overhead supply had 50%. I mean, for me, get back over 47, hold 47, maybe, but analyze the people. A lot of people stuck in this one.So recent, low the move. Uh, well actually you had a low last week at 41 32. So cut. It kind of feels like a Robin hood chart, you know, with, uh, you know, you had the write up after the IPO. You're just black, just like nothing, just holding, holding a level, but not really going anywhere. All right. All right. It is nine o'clock.Joel's going to head over to pre-market. Dot com, which is coincidentally, this is just sheer coincidence. That that's the same place where you'll be able to find, um, the Saturday extravaganza this Saturday nine to 1230. So Joel, have a good rest of your day, Dennis. Again, happy Thanksgiving, have a good rest of your day.And thanks for joining us on a, on a, on a, on a federal holiday for Canadians. And it is time for our weekly IPO segment. Now I'm going to bring on Manhattan. If my IPO warriors, what we're going to do, we're going to do what we do every week, right? Is we're just going to preview the week at IPO. And, but.This will be the last time that Matt is on right now, starting next week. We're going to move Matt's time from 9:00 AM Eastern to around 12:00 PM around noon Eastern Matt. Good morning. Good morning, Spencer high noon. Doing great. Doing great. I figure, you know what? Noon, middle of the day, everyone is not so frazzled and stressed, trying to prepare for the open, have a little bit more time to talk about these things.So we'll run through the IPO is from last week and this week. Um, and then, and then that's what we'll do. So let's bring it up here. Your, your, your slides here, which there they are first. I guess what we'll start with. What we always do is we'll recap last week. How was the week? Um, you know, the week started out pretty well.And then by Friday I was kind of probably itching too much to, uh, to get into some IPO plays and broke some of my rules and paid the price for it. So it's all right. I, uh, it wasn't too aggressive. So, uh, back holding a couple pharma stocks that I specifically said not to play last, uh, Monday, um, maybe I need to go back and check my newsletter and rewatch the shelf before each trade, because I often say things that and give great advice.And the times when I take losses are almost always when I go against my own rules. Um, so discipline is an important thing and I can continue to remind myself and to remind others that there are certain setups that are to be avoided and certain setups that are high conviction, where you should go big and.That's just part of the game, part of the learning. And, uh, like the last guest said the entry and the exit. Those are the two key pieces of each trade. And sometimes not making an entry is the, you know, it's the wise move, but there were plenty of opportunities to take some big wins, uh, last week. And also just want to touch back on the rescheduling.Yeah, noon sounds great. We'll have more time to go into things. Won't be trying to rush through things last week, we did start to get into something kind of interesting. And then we had internet problems. I do, I do break down these, uh, both the recap of each week. I sent out a newsletter over the weekend and you can sign up for the newsletter@ipowarriors.com.And then on usually Monday evening or Tuesday, I will send out a more in depth preview of the IPO is for the week ahead in the newsletter as well. So the newsletter is free. Sign up@ipowarriors.com. Follow me on Twitter. I often will break, especially when there is kind of a stealth IPO or something that sneaks up on us.Those are often the most exciting plays. And I'll tweet those out on some news, special newsletters on those, and you can follow me there. So if you're enjoying this content, if I've helped you make a lot of money, I think I have helped a lot of people with that. And, you know, I get, I get a lot of positive feedback, so I want to keep doing that.But if you want to get more gold IPO warriors, sign up for the newsletter and you'll get updates there and also update you on, we do shift the schedule change, and it's just a great way to stay in touch with what's going on in the IPO's. So this week we had, or this last week we had Vulcan, we had lifetime group, we had thesis therapeutics and we had cognition therapeutics.So all of these were very low flow except for lifetime group. And that wasn't really a great play. So these low float IPOs, we continue to talk about these Volcom. Uh, it was low float and it had sort of that buzz that we look for that. And it's in one of those niches where people get excited about, just about anything that's Evie related.So Vulcan is doing Evy off-road vehicles. So these are like non street, legal motorcycles and ATVs that are electric. And then that's the play. And the float was thanks. 3 million. Yeah. Free million share float. So people will gravitate towards this. It was a little bit tricky. It debuted at $9 after IPO at $5.So that was, I kind like to see that sort of debut premium. It indicates that people are interested in this. It doesn't take a whole lot of demand to send an IPO that only has 3 million shares in the float into a massive run. Uh, but this one pulled a little bit of a headache. And it was sort of just due to stupid luck that as I increased my limit order before the debut a rate, before it went live each trade, which is sometimes does rejected my price change.Sometimes you have your price set at say $8, and then you see the indication price go up to $9. So you try to adjust your limit order because you know, I'm trying to find these on the debut. And sometimes he trade we'll just go Nope, rejected. And now they've canceled your order. And as you scrambled to put in your next order, you know, in this case it went live and it kind of unexpectedly went straight down into a halt.Um, it doesn't take a whole lot of volume in either direction to move 10% either way and trigger a halt. So this one holds the down and that's a little bit unexpected. We expect these. Kind of run off the open to do so, you know, really in the first couple of seconds, when they go live, they'll often halt straight up.So this one, I read the level two data and I saw a big, uh, sell order down at seven 50. So I decided, okay, well I will play. If, if it goes up, I'm not going to chase it. That's my second rule of trading. These, my first is take profits without regret. The second is don't chase. So if this just ripped up, I would say, well, I missed it.You know, damn you E-Trade. Um, but if it drops down, I will, you know, I will, I'll take that opportunity. I'll take that opportunity. So I said, all right, I'll place a limit order at 7 55. And if a debut or an opens out of the halt and drops, then I'll get in because I think it'll come back up. I think there's still, I saw a lot of chatter on this and social media.I could see the buy orders had some significant volume in them, especially before the day view. And so I jumped in at 7 55 and was rewarded by, you know, a couple halts up. I got out at 10 50. I wasn't particularly, you know, I was a little bit spooked by that initial move down. But if you did follow the kind of rule of three, which I, for me is, you know, at three halts, if I see three upward halts on these, I want to be totally out.And if you did that, you got out around 1250, if you were even greedier, um, you know, maybe you said, oh, I think this is going to run to 15 or 14 and maybe so half your position here, play half of it up here. But the bigger takeaway on this is, Hey, when it's low float and it's not, you know, biotech, if it's something like crypto or Evy or, uh, we had debts the other week we had, if it's a Chinese random, just about anything, uh, underwritten by both stat or network one solutions like you play those.So any of these super low floats that have some kind of Nimesh and you know, or any one of these kinds of hot trends, Uh, niches. There's a very good chance that the social media trading groups will pick it up. They all jump in. It's very easy to send these up through a couple halts and they're great opportunities to take, you know, 5100% wins.I think the one that we had before that was a big one, was M H L T H a couple of weeks ago, we made a big play on, and that was again, low float. It was COVID testing devices. And when we see these, we recognize the opportunity. We have a high conviction, we play them. I mean, if you picked off a big entry at seven 50, you had a chance for a hundred percent gain in about an hour's worth of trading.So these are the ones I'm looking for, especially, even in a cold market. Lifetime group holdings was, uh, I mean, there was a win opportunity here. I didn't like it because it had a very high float, 47 million shares. It did get a Kramer pump in the morning, which can help these a little bit. Uh, then again to what he just said, you liked it, is that all what he said was, and this is something we mentioned on the show last Monday as well, was that, you know, this is a gym like high-end gym memberships, gyms, you know, a lot of gyms got shut down during the pandemic, especially smaller, you know, single location venues and lifetime group was able to weather the storm.And when people return to the gyms, they're not going to have so many options as they had before. And this, you know, this is kind of like the last man standing or one of, and the idea is, well now, now that there's not so many options and people do want to go to the gym, they want to get back in shape. Uh, you know, that this would benefit from this, but the thing that makes.Sort of interesting as a play, although I just basically decided to take the day off last Wednesday, the, that it opened below the IPO price. So when you see something that has a little bit of interest in it already, and it opens below the IPO price, there's a very, we see a lot of times it'll fill back into the IPO price or at least, you know, close some of that gap.Uh, when the IPO traders are all, even if there's 47 million shares out there, if they're all in at 18, I don't see, you know, surprises me when I see something go down from, you know, below IPO price. But in this case from 1667, where it opened this less of a chance that the people who just paid $18 for it are going to sell it right away, then those people are kinda like, well, you know, let's hold this.And just, maybe the market's just cold right now, which it was. And you know, there were opportunities to play this for a profit. You're not gonna make a ton of money. But, you know, you add up the singles, you get, you know, your score, it runs, I mean, you can win, get wins there, but for me, this just wasn't, it still wasn't interesting enough to, um, to sit there and play it.Uh, T H R X, this one I didn't play simply because as a general rule, I don't play biotechs and this one did give you a win opportunity, but you really want to assess your, you know, what is the upside downside risk of something like this. And do you really think that from, you know, if it coats up 20%, do you think it's going to run up another significant leg from there?Uh, I would say that if you were old enough to play this at all, you would have been wise to, you know, keep a trailing stop loss on, uh, you know, off the debut, but it run up a little bit, get your stop-loss and raise it as it rises and take a quick profit. If you got greedy on this one, you know, you ended up getting.Uh, the other one that I liked this week, simply because it was super low float and Alzheimer's Alzheimer's for some reason has been getting a lot of positive attention. The FDA, I forget the ticker, but approved an Alzheimer's drug earlier a few months ago that some doctors said it wasn't ready. Anyway, the stock ran and since then almost everything that was hanging out.We'll see. Uh, well there's a couple, uh, cassava has the one with, uh, with the data that may or not may or may not, uh, be good, but oh man, I'm blanking on the, uh, it was a L H E or some Alch or something. Oh gosh. Shat. I know the chat knows anyway, keep going. But I stay with that. What that biotech is. Yeah.The point is I think it is a LCH. Um, the point is that Alzheimer's plus low float has been kind of. Hot trades. This one had think 3 million. Yeah. 3.3, 5 million. I think they upped it to 3.7 million. So Biogen, Biogen, Biogen, I think there was also, okay. So bio, so the point being Alzheimer's plus a low float, that's sorta trendy that sort of, you know, it's super low float.This was a good opportunity. I missed it because I tried to undercut it. So everything, you know, dipping a little bit off the debut. So I said, okay, well, I'll go to try to snipe a little 1185 entry. Didn't get it. And it ran, uh, you know, it looks better than it was. I mean, ultimately this is a dollar 50 win, so it didn't even make the two point no, when that I usually targeting, but it was a pretty safe play.I mean, if you got in and kept trailing stop loss, maybe you got stopped out on this big downward with here, but you still took. Uh, 50 sand or a dollar when here, maybe let it ride a little bit, maybe sit 1350. There was no point in this where we realistically would've gotten hurt. So it was a good play if you took it.And it's just another good example of low flow plus something buzz-worthy and these are the kinds of plays that especially in a cold market, these are still, you know, still opportunities to take wins in the IPO world. So one of the takeaways for the last couple of weeks is one of the market is called.Don't be too bold. Like, you know, don't just, there are times when the market's hot, where it seems like every IPO goes up and it's almost like, well, just, you know, put your boat in the ocean. And it's going to rise with the tide. When the market is soft and remits to the correction, it's really a time to be extra cautious.And one of the other signs of this is when you start seeing multiple IPOs kind of like brand name, IPO's getting polled. We saw last week, we saw, uh, A couple of others the week before it got polled. And we've just seen a lot of brand name IPO's that normally wouldn't go live, get pulled or delayed. And the reason is they say adverse market conditions.But with a really means is they went out to a bunch of investors and the big name, money players and said, Hey, do you want to buy our stock? And they said, well, we're not really like buying a lot of stuff right now. And we're not super excited what you're offering. So, you know, we'll take a pass and enough of them say that they're going to say, well, now it's not the right time for us to do an IPO.Um, so when you see a lot of IPO's getting pulled or pricing below range downsizing, their offering, you know, or even debuting below the IPO price, which is something we really didn't see a lot of like earlier in the year or last year when the IPO market was super hot, the time to be cautious. And during this time I'm going to focus my efforts on low float height, memes, or longer price, you know, longer positions in under priced IPS.So we saw back in, I think it was August, we saw a bunch of IPO's. It didn't do particularly well on the debut. Uh, but then once the market warmed up again, it was like, you got a huge discount on them and they just ran, you know, really hot, you know, they did really nice runs from there. And those are some of the opportunities that might be looking for in there's one in specifically this week, that I'm what I think kind of fits that category.Like laid on us, we'll get there. But, uh, some of these would blow through because we've like, HCTI, I think we've covered this every week for the last three weeks, found data management software for healthcare life survey. So the revenue, you know, nothing to particularly exciting gross profits, not particularly exciting.Uh, they got a trifecta of negative on the operating loss, net income and cashflow. And the only thing exciting is that, or interesting is that they reduced the float from 9 million shares to 4.6, 2 million. So now this has gone from, well, you know, not particularly big, but not low enough to run on its own to under 5 million shares.Now I have to watch it and see are people talking about this on Twitter? Are people talking about this on Pinterest? Are people like talking about this in social media? Because it doesn't take a lot for a 4.6, 2 million share float to run, but then again, it's still selling on weeble after three weeks and cutting the share float in half.So if people get allocations of, you know, 50% of what they've requested, or even, you know, 30% or more of what they requested, it's probably not all that interesting. And in this market, I think we got to take a pass on this one. Uh Biofrontera this is some kind of skincare for overexposure to the sun, which I can't quite tell if it's sunburns or skin cancer, but their financials are not interesting at all.They are slightly rebounding now that we're coming out of the hands. And the only thing interesting here is 3 million shares float. Unfortunately, 3 million shares and super low floats have not necessarily done well for companies that aren't in some kind of interesting market. And I don't think skincare for the sun, uh, sounds like sunscreen, or I don't know.It just doesn't sound particularly exciting unless I see a lot of people getting exciting about it, excited about it. I'm just not going to try to touch this one habit exchange accounts payable software. So software as a service for accounts payable revenues up 33% in six months ending June 30th, gross profits up 52%.So they're pretty like pretty positive growth numbers, but in recent, the recent trend has been, we need growth number either really, really strong growth numbers, or we need growth numbers with operating profit net income and cashflow or moving very close to. Without that we've seen investors kind of shrug them off.We've seen the market being, not that interested. I've never heard of the back avid exchange. So it's not in something that is particularly exciting to me. And with negatives across kind of the three, you know, that, that trifecta, that financial baseline trifecta, um, even with the kind of moderate float of 22 million shares, I'm just not convinced.I don't have any conviction that this is going to run. And there are other players that will demand my attention this week, if I'm going to play anything. Okay, lucid. Sorry. It's not the EAP company. It's just a diagnostics company. It's a device for testing esophageal cancer indicators, softened geo, maybe cancer, eight indicators.It's not generating any revenue yet because their devices not FDA approved yet. The underwriter is not a company that I'm particularly. Familiar with, so we're not seeing like boasted or network one financial or even Maxim or think equity. So none of these kinds of like gimmicky underwriters that sometimes indicate that they might do something kind of manipulative with the price.The float is very low with 5 million shares. But again, unless people mistake this for lucid motors, which I doubt they will. Um, this is a pass for me, IHS. This is IHS group. This is kind of interesting. It's a, they buy and manage communication towers. So cell phone towers, particularly in emerging markets, they just bought a big contract in Brazil, or they bought like a thousand towers in Brazil.They just bought a thousand towers in Kuwait. Um, and as we know, you know, everybody uses a cell phones, so it's pretty good industry to be in. Uh, revenue only up 15% in the six past six months, but gross profits are up 60% in the last six months on gross margins of 47%. It's a pretty healthy growth metric for a company that is in that how's that positive trifecta across the financial baselines.They have positive operating profit, positive net income and cashflow. Uh, so this is kind of the, you know, I mean, cell phone towers are the thing behind the thing that is mobile phones until we get significant service coming through it from satellites towers of the way that the world connects to each other through their mobile devices.So one red flag is that of the kind of conservative float of 22.5 million shares 4.5 million shares are being sold by existing shareholders. I always sort of wonder why the shareholders are selling now. If they believe that the company and the IPO will be very. And it definitely means that there will be more liquidity than, you know, because a float of 22.5 million shares, that's what they're floating to.You know, the IPO sales, they're selling that to the institutional buyers, to the hedge funds and the big money who they are hoping is, are going to hold most of those shares. And not, it's not 22.5 million shares are always going to be traded on that first day. But when we see 4.5 million shares being sold by existing shareholders, those shares to me tend to make it to the market on the first day.So I like this. I like everything about this, except that one and that one piece there. So I have to watch that. I do like this though. This is profitable growing and cashflow positive. So this has this checks, the boxes takes the kids to the check boxes. So I like this one. I have a star next to it and I'll be watching it.Get loud. This is, this is one of those tech companies. So this week is good. Oh, this is exciting. I'm excited for this. Um, and, and I think it's, you know, with, uh, with merit, this one is fits that model of, well, if it's going to debut in a cold market and we might get, actually get a good price for a longer hold for this, uh, for those of you who aren't familiar with this, this is kind of the main competitor to get hub.So get is a version control kind of software repository used in, you know, for developing software. Uh, this is something I know a little bit more about than some of the other things, because I am a software developer in my, uh, in my day job and get is basically. A service that, you know, most development companies are going to use.When you have multiple developers working on a software platform, you have to keep track of, who's taking a piece of the software out, working on it, test it, you know, and then manage those kind of reimplementation of the work that they've done into that base code. And the main, you know, software use for that is get, and then the two big platforms for our get hub, which is, uh, was bought out by Microsoft and then get lab.So get lab has some advantages over get hub and that it's more customizable. So for larger companies and larger projects, that can be very helpful. Maybe I don't want to use the workflow that get hub kind of prescribes to you. And a lot of people have been moving towards get lab revenue is up 69% in the last six months, gross profits of 67% in the last six years.So, this is the kind of thing where the market often says, oh, in gross margins of 87%, you can see how this can scale with, you know, with growth and the only downside, but you kind of expect it in a company like this. Who's trying to grab market share, you know, the losses across cashflow, operating profits, and a little bit of that cashflow and profits.And, um, shit, I duplicated that. I don't mean that, I mean a net income, that should be the last one. So those losses are kind of digestible when you have revenue of this magnitude in a company that is kind of, uh, you know, very hot and the growth in this, you know, in this industry is obvious for the next, as long as we're using software and developing software, I would also like about this as the only floating 10.4 million shares.So this is one of those. IPOs that is likely to get priced above range. I think that they're saying 48 to 50 is the price range. They would probably increase that by the time this goes live on Thursday, and then they'll probably price the IPO above that. And then it will debut like 70 or 80. And, you know, I still like it.It's the kind of play where even if it does a day, one dip, you have a very good chance of a day to recovery. And I think an even better chance that with just 10.4 million shares, you see, you see this move up from the debut. So this is if it doesn't, this is one point I mentioned earlier that the debuts that came in the colder market back in, um, August, a lot of them ran up when things warmed up, not in August and may, may, June.A lot of things warmed up when the market kind of came back to life a little bit there before the September. So if you're wrapping it up against the clock here, Matt, any more? A couple, but let's go quick, quick. Okay. This one, I don't really like it. It's um, you know, unimpressive financials think equity is the underwriter, which is kind of hit and miss super low float though.So who knows keeping an eye on it? Singulate uh, in, from last week, got rescheduled improved drug delivery for ADH treatment, ADHD treatments, um, very low float. I don't really want to touch on other biotech at this point. Augmedix this is patient care documentation. It's like speech to text documentation for doctors.It's kind of interesting. Cause it could get docs comparison. It is an uplifting, which I don't usually like the numbers. They have good growth losses across, you know, the trifecta in a pretty low float. Maybe keep an eye on it, but not, not, not super exciting. My focus this week would be on IHS and G T T L lb and still watching, uh, this one with.Still watching pets something's going on there posted is involved. Just, you know, check me tweets. If you're interested in that one, we got cut off and we talked to you last week, but if we gotta go, we gotta go. Markets come opens in three minutes for the newsletter. I'll have more on that there. IPL worries.com.And that's a wrap for me, Spencer. All right, Matt Hammond. Thanks a lot. Joins us every Monday to give us a preview, a recap, and a preview of what's to come in the IPO calendar. That's a wrap for us here today. David David Green is live now on our channel, the stream, and a redirect to him. Please remember all the information from our show is meant to be used as informational purposes, not for investing or trading advice.I promise. I promise I'll have a camera back later today. I'm getting, uh, my laptop, uh, from the office, which has. More functionality than my crappy MacBook air. So there's that? Uh, thanks everyone for bearing with me. Thanks to Tim. Thanks to Matt. Thanks to all of you in the chat. Hit that like button, please.And thank you. And I'll catch you guys later. Have a good, good day and good luck at the open.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:September Jobs reportTSLA's annual shareholder meetingBENZINGA CANNABIS CAPITAL CONFERENCEThe premier gathering of cannabis entrepreneurs and investors in North America returns for a 2-Day Hybrid Event on October 14-15.Register hereMeet 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 TranscriptComing to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn. And this is a foul tile poppy here. Isn't it. And Dennis Dick, I bet I will buy the stock with everything that you need to start your trading daymorning. Good morning. Good morning, everybody. Happy Friday. Welcome to pre-market prep, Spencer Israel still without a camp. But with my Dorset tones, Joel's here. Dennis is here too. He'll be back in a second, but I promise he's here. Uh, we're going to talk a Baba today. We're going to talk Tesla. We're gonna talk a jobs number.We're going to hopefully be joined by Marcus. Hi Cotter. Yes, the man, the myth, the legend back at 8 35. Would you take your time at the end of the show? We will share some, uh, boots on the ground research as well that Mitch did on his own Accordi yesterday. And we'll take questions from our chat and, uh, yeah, that w w I guess we should probably start by talking about yesterday though.W uh, w Joel, bring up your charts if you can. And let's start with, um, yesterday's action, because the question I'm asking. To the both of you or Dennis, whenever he joins is a breakout or fake agile. What? Well, right now the numbers are saying a breakout. Uh, we'll just run things down. We'll talk about yesterday's action.When Dennis comes on here. Oh, he is okay. Uh, well, there's talk about today's action then we're up three and three quarters handles ahead of the big jobs number. Pre-market high, all three and a quarter, nothing there pre-market low 82 and a quarter, nothing there. So mark, it has to find my levels and a wild, the upside yesterday, 43, 21.That's a high that looks like a good early target on the upside. Our crude bouncing back up 52 cents. It's 78 81. Gold just battling it's way up to 1800 up for a box of 17 63, 10 silver in the red by 9 cents at 2257 Bitcoin. Having a good day having a great week. Ah, that's up 1385 at 55, 8 55. And the theory that's up $20 and 25 cents at 36 46 50.First question I have though for triple D and match is without the technical, a computer wizards that run this show. How did it go yesterday? How did it go? How did it go? I have nothing to do with any tactical stuff behind the background. I've never ran a YouTube. Yeah, it was tough. It was tough, Joe. I gotta say, I miss your ability to handle the charts.I was there, like trying to handle everything, but Hey, we got it down. Right? Dennis, actually, somebody tweeted us. It was the best show ever. You know why that was me? Oh, was you,you know what it was? We actually got through like 20 topics, Dennis. I don't know bitches on mute again. They can't match. What's wrong with you? Like you're using the technical group. I don't know what's going on. My mic. Doesn't want to get picked up by my desktop audio. The same thing that happened yesterday, but now they can hear me.I sign it. You say you can't hear you calling you muted match. He's a mime. Now you just, you gotta read his lips. Hello is the way I had it on my computer. They still don't hear you. Well, there's always, there's always a delay. There's always a delay. How much of a delay? It was about seven seconds. You're going to get kicked off the show.If you don't get this mic figured out he was right on deck to replace Spencer, but now he's falling apart. Spencer, we love you. I had it. I might, I came downstairs. I was able to do some work a little bit later in the day and I had it on like, go, oh, I just want to see how things, uh, you know, how, you know, how things got started in the chat ripping you guys a new one.I was just like, okay, maybe the, I hope they get the show, but I just giving you a hard time triple D and match. I'm sure it was a great show. It's me. Don't give me a hard time. All I do is speak on standard scars is where we're at. Then you can give me a hard time, but I don't know. And it's helping, it's not working.It's not working. It's not working. Nice move yesterday.It's working. It's okay. We forgive you match. We forgive you match. We got to figure out why you keep going on mute though. You didn't match three inside days in a row. Right. And the market was just, it was just bottled up. They really tried to bust it on, uh, on Wednesday. Like they, and you call the triple daycare bus, like get this thing under 4,300 kids that I get to sing under 40 to 70.And then I would look in the thing would be trading like 42, 96, 97. And literally I would turn my head and it would be like 40, 43 0 3. And I'm like, what? And it was just like big buyers came in. Then once they got it over the high, but we broke out to old resistance, new support. We're 30 handles away from that.We got a jobs number. Let's take out 44, 21. That'd be a pretty good week and, you know, close on the highest the week, the only wildcard is how we react to, I mean, this market is still and you know what? I still agree with Spencer. I still think you're making the high by the end of the year. And I think it kind of proved itself two days ago that in the end, this market just, you know, wants to go higher.So, you know, are we out of the woods? You know, are we going to retest those loaves? Are we going to fill that gap? I tend to think we're going to fill that gap, Joel, the gap from two days ago, because there's not much in there and you might not see it on the S and P futures, but you definitely see it on spy, which I'm talking about the gap from 4 35 11 up to 4 30, 8, 20, there's a three point almost 30 handle gap in there from the regular trading session, which spy obviously is involved in.Um, so I think we're going to fill that. I think I would be a buyer down cold resistance of 4 35. So we get down 30, 40 handles from here. I'll be buying more stocks. So, you know, ideally, you know, you'd been buying, you know, at the dip for 27, for 28, but I was buying different selling reps on the stocks. I did buy, probably sold them too soon because I did not expect the big breakout the two day follow through move.It was 120 point run from the low. So, you know, do we fill the gap? I think we do. I think you're a buyer though, if we do right. I want to ask you all about the close yesterday. Cause we close pretty weak Mitch and I were watching and over bought, you know, we went from oversold over bought. And literally if you look at, you know, where, how, where this market went, we went from 4 28 spot.At about one o'clock in the afternoon, two days ago to at the open, we just run the four forty one, a hundred and thirty points equivalent that is on the S and P futures in literally three hours and overnight session, a pre-market session and an hour of, of a morning trading crazy. And, and Paul and Paul saying I've changed my tune of the market.In two days, I haven't changed my tune. I've been saying buy dips and sell rips. I've been just on the fence, fading every move and continuing to fade, move saying, if we fall 30 handles here, I'll be a buyer. If we ride 30 handles here, I'll probably be a seller. I'm doing the same thing, Paul, that I do every single day.And that is buy deps and sell reps. Intra-day overnight, wherever it is. I tweeted out almost every single day. I think everybody knows what I'm doing. Um, it's just been working. The fade trade has been working. There's not a lot of false. So I don't think I was bullish or bearish. Was I Polish? Oh no. You know what you, uh, the way you taught me out of, uh, you know, I mean, I was re I like, if we took out those loans, right?If, if, if right, if your uncle bill, I can't say that on TV. Um, but I would, the thing is, isn't the way you turned me a little bit. It's like, where people, where are you going to put your money? Where are you gonna put if you take out of the market and where are you going to put it, Bitcoin. Okay. You can put it in Bitcoin, you put it in a gold, you know, she bought no, I mean, we, I mean, and that is no place to go and that, and that's a sad excuse.But it's the truth and, and, you know, the inflation is incredible. You know, I know it just from this house build, which is stressing me out. I've talked about it on the show multiple times. I mean, material on this house is just unbelievably, went up in price. Like, I mean, everything that we budgeted is coming in 30, 40% higher on the material, just on the material.That's your, you know, that's from, you know, budgeted in the fall to where we are, I guess one year, a year over a year. So you're seeing 30, 40% rises. In some cases, like I said, in the electrical wire 300% rises in the price of stuff. I mean, you can say, there's know no inflation on TVs like Kathy would, you know, obviously in technology, maybe there's a little bit of deflation there, but in every other aspect of her life, it's very, a lot of inflation and it isn't running at three, 4%.Some things are running a three, 4%, 5%, but the things that use the most gas food. Housing, that stuff is running way hotter way hotter than 5%. So if you want to keep up with inflation and you are just putting your money in the bank or sticking it under your mattress, you are now probably 20% poorer than you were at this time last year, because the biggest expense to every single person out there that's normal, it isn't just, you know, ridiculously wealthy is their house and housing costs have went up substantially and Ontario.They went up 32% last year. I heard in the states, um, I read a figure. I don't know if that's right. It was up 26% last year, but you can see easily in most places, houses are up over 20% year over year in some places they're up 30%, 40%. That's a huge expense to maintain. That's a huge expense to everyone.How do you, you know, keep up with that. You gotta stay invested because you know, markets move up with that as well. So that's my rant to stay invested here. That's why I don't move to a hundred percent cash, even though a lot of things are telling me that there is a lot of risk out there, but I think the biggest risk out there is inflation.And I don't know how else you'd beat it. And that's why the commodity trade has gotten hot. That's why, you know, crypto has gotten hot. That's why a lot of things with. So Dennis, maybe you can get the house finished, uh, by the time for next tax season. So you can just, so you can just give it back to the government.Could you get all your getting out tax so much taxes to everybody now? Oh. Tax to everyone all the time. 53.5% bracket in Ontario, 55 and a half as a high bracket. It's an incredible amount of thing, but that's just income tax that doesn't include property tax that doesn't include sales tax. That doesn't include any other tax they've come up with.I mean, when you think about at the end of the day, you're lucky in a terror. If you're keeping 25% of your money on an after-tax basis at the hyper. So, obviously we know there's corporations that can get around and stuff in that, but there's a lot of, people's pay a lot of tax. You're always welcome here.Once you get your house built, well, your taxes are going up too. So, you know, we know, you know, over 400,000 or 500 Joe, Biden's gonna raise your taxes on you too, Joel. So you're no place to hide taxes are going up there as well. I don't need to go on a 53 and a half percent, but they're probably going higher.All right, Spencer, I do want to give Dennis a tip of the hat here. Cause I, I forgot if it was Monday. He may have been Friday. I don't know what did the days all blend together? Uh, but uh, he said one of these days Alibaba's going to rip higher like 10, 20%. And that has happened. That has happened. It was Wednesday.Was it? I don't know it was Wednesday. Maybe it was Wednesday. Um, and, and so now. I'm curious as someone who, who is long, I'll be Baba. Dennis, what are you thinking here? I'm sticking with my long-term Alibaba. If I had it on for a trade, I would probably be thinking one 60 to 1 61 was an old resistance point.20 points in two days is pretty good. Thanks. Tunkel Charlie taking the steak. Um, I, I think, I think it's a good pop. I'm not coming in and buying Alibaba. Now. I'll tell you that, uh, the, the, the buy was when we set it up the trade for you two days ago, we were saying we can lean on the low 1 38 43. The stock was trading 1 41 and obviously pulled down to under one 40.So if you were even getting, I know my buddy Mike there in Nashville, he, he bought some and he was thanking me for it. And I know there's some other traders that bought it too. So good job to all the traders who did buy it. I mentioned it. I never did buy some more. I thought about it, but I'm bouncing around doing a lot of things.I never thought about it again. And I looked and it was up 10 bucks and I was like, oh, I missed it. But, um, is there any news out of China or is it just a good old fashioned.Chinese stocks rallied that helped to Juul. So it's a good point. jd.com rally. So this wasn't just exclusive dally, Bob. It's a fantastic point. E M you can look right there was trading up substantially as well. China had a relief pop drastically, massively oversold, which is why we were saying. And Bob was the same reason is that it was just oversold so much that it needed a relief topic.Got it. Whether it was China, whether it was uncle Charlie, that was the catalyst. Um, that's obviously, you know, never going to be proven without a hundred percent accuracy, but it had a catalyst with uncle Charlie. I mean, Charlie monger taking the doubling of stake in LA Baba, but the second catalyst was the, the Chinese stocks bounce back, but they were.So oversold stocks have these wicked rallies. It's like, you know, like we I've said this before, when you're in a bull markets up like an escalator down, like an elevator when you're in a bear market. And Alibaba is definitely in a bear market that it's down, like an escalator up like an elevator. Well, you just had an elevator ride up three floors, you know, are we going up another three floors?There is a potential to do that. But the easy money was made probably two days ago, 60, 30, 8. We snuck over that. And the pre-market I believe. Yeah, it got closer to 1 61. Now what? 60 38 is your September 17th high. That's the last time it closed over one 60. So I keep an eye on that. The next high comes in at 1 63 0.07 and also settled back close to one 60 that day.So there's yourself zone 1 61, 1 62, 1 63 third wave coming in the, in the chat. We discussed this the other day as well. Monger. Pretty decent stake. Uh, I'll just read it to her way through is common here. 16% of monger's portfolio is in Baba between 180 and 200. Uh, I'll take your word for it on that. I don't know the exact numbers, but I'm sure it's somewhere around there.180 and 200. Why what in Baba? W what shares you mean? No, no price. Oh yeah, yeah. Yeah. That makes sense too. Sorry. Sorry. Sorry. Sorry. Yes, we Charlie, when time to grind, Michigan, right? It definitely. Wasn't Michigan state of Joel's bringing it out. Uh, but now, um, maybe he's buying more too though, but we'll find out.That's why I went up to Baltimore. Got this closed. Don't frown average down Charlie. average down unless, you know, you're in a really bad stock. I want, I wanna bring up this point from evil DJ Nevada city. Uh, yes, the, the Chinese ATRs that trade on U S exchanges. Technically don't give you any rights to anything, to any profits from the company, but they trade as if they do, right.So it's a different pool of liquidity. If you own shares of Baba, the trade on the nicey, you don't actually, you're not actually getting profits from Ali-Baba corporation over in China, but the shares traded. You do get those profits. So, but yes, you're right. You actually have rights to nothing. That's just the way the Chinese ADR feeling when you're owning Chinese, that's just legally have the rights to nothing that makes me feel a warm and fuzzy.You have rights to nothing, and that's not unique to Alibaba. That's every Chinese ADR in the U S that you have rights to nothing, but that's the way. So that's the way got GM's profits owning GM here. You can walk in and demand some money. You're saying I have a legal shit. You have a legal recourse here where ADR is, are just more tracking the price.Yes, exactly. They're tracking the price. Yeah. They're tracking the price. Someone just asked if I was buying K web. No, I'm not buying K web. I'm not buying that back. I just got out of that. I don't want to get back in. I don't know what to say on China. I mean, it was so oversold. It got the nice. Back in a felon.Joel, I'm waiting for the back and up a little bit here. Maybe it is get, you know, maybe this really pop continues because it was massively oversold. Is there room to 55 on K web? Absolutely. There is. Is it going straight there tomorrow? I don't think so. I think it'll have some work to do because there's so many bag holders holding all of these Chinese stocks and the, obviously we know it's difficult to just come back unless you're CGI and with three, a good segue in to dead cat bounces.And you look at this thing for 85 gets the short, uh, from, was it Kerrisdale? I mean, I think it was Kerrisdale um, and, and gets the short report, the stock tanks down to 85 cents. And now in basically 24 hours, it's back up to $2 and 31 cents. What a comeback. So what do you do when your stock, your meme stock or your social media stock implodes to the tune of 85% and then all of a sudden bounces 150% in a day.What do you do asking chat, ask Joel, asking Spencer, even asking you to know this is a rhetorical question. It is, what do you do? Elite trader has the right answer, in my opinion, not investment advice, not in trading advice, but when you're in a stock and all of a sudden it tanks and has a nice dead cat bounce, and we know what I do, I sell it and get that, get out, sell that rep that's right.Folks as chat is learning, this chat is, you know, and, and, and obviously, you know, sometimes I'm wrong, but I said this on BBI G yesterday when it was six 50, it's five 30. It literally fell 25% since I said that, yes, And I've don't trade any of this stuff, not no positions, any of this stuff. I don't trade any of these meme stocks, usually, other than, you know, I guess, you know, the odd time you go into them.But for the most part, it's not my cup of tea. We know more about mega cap specialist. So I do trade. I trade everything, but I'm not in any of these positions right now, but I didn't take any position at BBG either. But when you get those big pops and these dead cat bounces, there's so many bag holders from 4, 3, 2, that going to be looking to get their money back.It's up on 60 million shares. I think it's a fabulous selling opportunity today. Just my opinion, uh, trading close to the pre-market high and a distilling thing I'll say is the pre-market high. Is it 2 43? A if in fact you get through that, your next daily high is not over the $3, 3 22. All the comments I have for CEI.Now let's talk Tesla here for a second. Uh, they had their annual shareholder meeting last night, nothing I thought too noteworthy that, uh, that came out of it. Uh, they are moving their headquarters to Austin. I think it's not a total surprise. Um, they talked about increasing their output at the Fremont factory by 50%, no plans to offer dividends or do a stock split anytime soon.Um, they Ilan said they may start scouting for locations on another factory sometime next year. Um, but I dunno, nothing too noteworthy to come out of it. Um, I guess the biggest thing was probably the, the headquarters, but again, that's not a, it's not a total surprise to people who've been paying attention to talk for a while.Right, right, right. So anyway, uh, the stock did trend higher into the, into the meeting. This is what usually happens. I haven't seen it this morning. Oh, there it is. Up on the screen. Um, okay. So it's. Flattish is that fair to say? I don't know. It jumped a little bit. Alright. It's around Tilly and Tesla. Jill has been incredibly muted.Has it not? Don't you feel like tight range? I agree. Yeah. And again, you know, it's not coincidental that it's a major part of the S and P and you now have the ETF effects happening on this, which is muting volatility. So people are putting together, you know, and, and I've said this before you want to put together the QS, or you want to put together the S and P as an ETF, you grab that four or five top components.They've probably got a 90% correlation with it. So, you know, in 10 they throw Tesla into that mix now, because if we just go, uh, and look at the percentage of what Tesla is of the QS and of the spy, and it is significant it's whereas in the spot it's top 10, for sure. I think it's top sex. Yeah. I think it's number six.We're going to look, Tesla is of the spa. Yes. Now, if you banded Googles it's six. So don't kind combine the Googles. It's seven. What is it like 3% to two and a half, 3%. I'm grabbing it right somewhere in that. I will look it up on my, my four and a half. Okay. Spy. It is it's only 1.7, but it is 1, 2, 3, 4.It's number seven. So that's significance to Google's. We're not talking Google. I know, but you're you're saying it's 7 0 6. Oh, I know what you mean. You have to have two goals. So it's number six. Yeah, because he writes to Google's. So it's number six, it's significant. And you know, you have 500 stocks is number six of the biggest ones.The quick AARP traders, you know, are right there and they can use that, you know, to get that correlation. So you have massive ETF effects on this now. And what that means is, you know, spiral of sudden tank and Q's tank and test is going to go down with that, but you're not going to see those moves. And if there's no news and you know, obviously on news, any stock can move.We know that, and you can see Facebook's move 10% on bad headline before, but you know, they're there, if there's news that can move, but there's no news. You have those ETF effects, which is definitely muting volatility. Now I'm going to talk about that on October 16th, Chris brown hair, and he said, Hey, you got a double top here, a yesterday's high, eight or five, uh, Tober fourth, hiatal, 6 96.Close enough for me, you know, and I $800 stock. You take out those pair of highs and then boom, there you go. Another leg higher. And I will notice that it has treated over 800 and up in the seven nineties, the best clothes has had 7 93 81. That was the close yesterday. So there's a good number. Let's just keep improving on the clothes and take out that 8 0 6 97.That's a, that's what you need on the downside. Uh, depending on market conditions aside yesterday's low 83 30. Just off, we've got three minutes through for the jobs number. Can you preview that for me? Because I'm going to go trade that number. I'm going to leave you guys for about five minutes and that you in one minute.So give me the preview. So I kind of know what to expect from first. Remember, I know it's hard. Think back two months ago, the jobs number came in a very, very, very big miss, only 235,000 jobs added in August, uh, compared to like 800 and 900,000 in the prior months. Anyway, the estimate for last month for September is 500,000 jobs.That is the estimate for the non-farm payrolls figure. Unemployment expect expected to take down to 5.1% from 5.2%, uh, the prior month. So 5.1% unemployment, 500,000 on nonfarm payrolls. Those are your bogeys. Uh, remember we are coming off a month, uh, um, uh, August, which was a, uh, a surprising. Surprisingly big miss.So that's where we're at now. 500,000 jobs, 5.1% unemployment. Those are the numbers we want to see. Let's see what we will see in three minutes and reminder, actually, you know what? I don't know how much these numbers really matter today because the fed has one more meeting on the books. Anyway, I think right.The FOMC has one more meeting on the books for this year. And they've already said, they're going to announce when they're going to start tapering by the end of the year. So there, they're probably going to announce it at the next meeting, regardless. I don't know how much this changes the picture, but I guess what, I guess we'll find out if it's a big beater, because someone's getting a little jumpy, choppy getting shot.So the two things, the way I approach these numbers is I watched spy and I watched the TLT. Those will give me indicators, the TLT, obviously give me indicators for the banks, give me indicators for any, you know, high dividend rates, types of plays. And then you're watching spy two. And sometimes they both go in the same direction.A lot of times they go in opposite directions. So keep that in mind. We are really getting choppy here. I'm going to go move. So I don't get picked off, move some orders and I will be back with you hopefully in a few minutes. Joel Spencer. Oh, wow. Um, I'm looking at that. Whoa. Look at that chart on the top there.Yeah. Bulls and bears are battling it out here. I'll just give you the technical setup here. We know that, uh, when fundamental information comes out, Titan metals, I have a little bit less meeting, uh, but we're looking at a one minute chart here on the upper left and someone was jamming it in fat. Okay.We're going to get out and take out that pre-market high. The pre-market ISE 44 0 3 in a quarter and nothing there. I mean, I have nothing there. Someone decided to sell. There are a group of sellers. Yesterday's highs, the big number on the upside. That's a 44 21. And there's not much above that on the downside.We're up seven and a half handles. The close was 43 9. That's above the pre-market low. The pre-market low comes in and 82, a coroners. So let's see what they do. Can you, can they get it read on this number, take it below 43 90 or can I just bust through that? Pre-market I have 44 0 3 and a quarter, and really, really opens up after that.So here we go. Uh, jobs number eminent, we go and I'm going to do my best to get it to you as quickly as I can with my laptop, it's been a little bit shell happy. They don't like it. They don't like it. Not a good number. Yeah, I competed bitch coming in here. Thank you. Thank you. Save me, Mitch. My computer's failing me.I'll let you pull that number. I'm one of the things that I'm kind of interested in finding out is we had a sound spec, but kind of filled down towards 43 35 today. You got something Spence. That is whoa. Okay. Yeah. So remember 500,000 jobs. Was your estimate 194,000 was your actual non-farm payroll figures.So, uh, not nearly as many new jobs add to the last month as expected. That's two months in a row. That's two months in a row of big misses on the non-farm payroll figure. Uh, unemployment rate did go down more than expected 4.8% versus 5.1% estimate. So, so that's that's okay. But uh, far, far fewer jobs added again.Last month then we found that in any revisions to the priors month, uh, uh, yes, the that's a great question. Well, the August payrolls were revised, um, higher, uh, two, 366,000. So not quite as bad as, as the PRI as the prior reading would indicate, uh, July was revised higher as well. So the last year that the August and July figures were revised higher, not as bad as, as maybe they, we initially thought, uh, I'm sure this month will be revised higher as well, but regardless, uh, that's a pretty substantial gap though, between a 500,000 estimate and 194,000 actual.So you, you would, if it is revised higher to, you know, 2 50, 300, it's still a big miss. Um, as far as what this means, I'm going to stick with what I said before. Probably nothing. The Fed's probably still going to announce to taper at some point here, imminently. But I'm watching that candle on the, on the top left a chart there, Joel and oh yeah, we are really moving.Yeah. And uh, someone mentioned in the chat and I mentioned this a while ago, the old stagflation rehab inflation, excuse me, into a, a slowing economy, which is the exact worst situation that you want to see. Uh, this surely doesn't give any boost to the banks, right? As far as rates gone up with the economy.So you see JP Morgan, uh, that's trading down 35 cents. And the spoos are getting hit here. Uh, we are heading for that. Pre-market low of 82 and a quarter, a decidedly yesterday's rally, um, is now fading and fading hard. We may see the top of that range of the, that three day, four day training range we had, but, uh, the street not liking the number.So I don't know if it's, if it's, you know, people still live in off those unemployment checks at the store and not wanting to work. I was thinking that's what I was thinking too, you know, uh, historically when there's a big miss in the unemployment, the non-farm payroll figure, we, we blame the employer. We say, oh, there's not, there's not enough jobs being added.Um, but I'm wondering if this is just a case of there's not enough jobs being accepted. Right. Like, like maybe, maybe the jobs are there. They're just not being taken. Actually. Don't we know the jobs are there right now. They're not being, they're not being taken. Uh, so that, that shows up on the figure regardless.Um, I mean, I liked the fact the unemployment went down to 4.8%, right? So there's this, it's hard to square the circle. It's hard to make sense of this because the unemployment number is good. The non-farm payroll is bad. They seem to go against each other. I'm not quite sure how to make sense of that. Oh, gold rallies, colds rallying right now.So this is, you know, uh, it's the opposite. I will say gold here. Is that an important area? I was looking at the daily visit this, uh, 1771 area, 71 and a half right here. Para highs. So important for gold. I mean, I don't think that this is, uh, really inflationary numbers. I don't know why gold is rallying here.Bitcoin is sold off at times a little bit market it's. I mean, we sold off, we just, now we're back at on change. We did not make a new pre-market low, which is good. So really, I mean, we've had some movement, but overall pretty subdued because tomorrow. Taken out the pre-market high would have been a bullish indication they'd taken out.The pre-market low would have been a little of a bearish indication. And I'd say, if we go back up, what, what time? What did we start? This eight 30 number here we are almost, I think it was 43 95. That was God. Where did we end? The eight 30. Eight 30 bar. We ended at, um, 4,398, so that sets and I'll throw another number in there for the bowls and the barriers to decide.That's where we were before the jobs number came out. And now just training a little bit on change. As we said, this doesn't look great for, uh, interest rates going up. Uh, let's see here, first of all, to see how the TLT is responding, TLT skinhead, uh, and the banks are getting head. So that's a little bit of a conundrum there, but, uh, let's see.What else to consider is that wages? I mean, wages did go up average, hourly earnings would go up. Um, uh, I, you know, I don't know if they went up maybe enough to clearly they didn't go up enough to, to, to incentivize enough job, uh, enough job growth, but, um, hourly earnings are increasing. That would seem to be a good thing too, but I don't know.I guess my first thought is we always blame it on a jobs number myths on the lack of availability of jobs. I don't know if that's the issue here. I think it's just an issue of people just not taking the jobs for a variety of, it's not one reason why obviously, but, um, yeah, this is, this is a, this is a bit confused.That's where I'm almost 30, 43 94 found buyers in the 43 80 handle. And, uh, we, when we started out 43 98, uh, crude, that's up 61 cents. It's rally and a little bit off the high Gold's catching the bid off this Silver's catching the bid. Bitcoin's still in degree. And, uh, Ethereum is still in the green, but fighting back.Um, oil's up? I don't think that I know one minute, I don't think that moved. Yeah. Moved a little bit off the number. Uh, but you got a big number on the upside today for oil high, the move, uh, 79, 78. You got the 79 66 today. Uh, so oil is trying to hang in there. Spoos fight their way back. Um, are we, uh, are we having marked your son today?I'm waiting here. We're supposed to have Marcus today. I shot him a note. I'm going to text him real fast. We were supposed to have Marcus on the show, um, and I'm waiting for him to join us because we miss Marcus. So I'm doing that in the background, um, by the dippers are present in, in the pre-market yeah, under, under 43 now.Um, I mean, this is just a chop market. So as traders again, you know, we talked about this at eight o'clock by the dip, saw the rep. I mean, you're seeing it right here. And obviously we got down about 14 handles lower than this, and they turned around, they started buying them again. So the buy, the dip mentality, you're not going to break it, especially after the last couple of days.So you get that dip back and what do you do? You buy it? So I don't know where we're going to, you know, we have a wide open, we have more volatility. You're going to get more adepts here. I don't know if this was just the depth of buy and now where it's going to rip higher from here or not. I was hoping we'd fill the gap.We didn't do that. We filled a little bit of it, but not nearly enough. So on the gap on spy, I'm talking about, but again, same story. You get that. There's not a lot of fear. Like I was the same way. I was like, okay, I'm buying some spy. And I bought some at 4 30, 8 30 and 4 30, 8 40. Um, because you could just feel it like that's, we're chopping around enough that they're probably gonna come back.So not, uh, you know, uh, obviously, you know, nothing's right all the time. Nothing's a hundred percent, but yeah, this, this, this by the dev mentality out here at stronger than ever, no fear, you said just now there's no fear. I didn't have fear either on the number. Oh my goodness. What's going on? I'm like, all I'm thinking is everybody that's caught short from last couple of days is gonna be using any type of adept to buy.Maybe we should have said that before the show started too, but I mean, this is just, you know, rinse and repeat. I've been tweeting it almost every day by the depth side of the rep rinse and repeat, and it has been working. Like crazy in this market environment. Yeah, we did take out, uh, took out the pre-market I, uh, oh three and a quarter go to oh 7, 75 years.So, uh, we fact we couldn't take out the pre-market low, got pretty darn close by. So I'm sure that people were looking for file through, through that. I think, I think you're gonna have a seaside day, you know, it just kind of the way it feels like from the way it reacted off the number, I will say the fed fund futures have fully priced in a rate hike by the end of next year.So the rates are going to go off the floor. So the market says, um, in the next 13 months, 14. At some point anyway, let's move on. Alright. I, I did just text Marcus. I don't know where he's, where he's at. We were all excited for mark. I know, I apologize. I emailed him. Uh, we're waiting for Marcus. In the meantime though, we have a fun little segment here, uh, prepared Mitch yesterday, did some real boots on the ground channel checks.He got out of the trade cave and he went out into the world, the outside where the sun is and he, and he did some research. Mitch, tell us, what did you see? All right. First things first is this muted Mitch or money? Mitch? I don't know. I got to go check you here. You making sure here, just making sure they didn't want in mind you again.You're good to go. Let's go ahead. At least the video for sure. Should have audio here. So what I did was I did some research for us because I personally had been trying to go long on bros. I missed it on the IPO open. I've been looking for it to settle down a little bit solid, settled down, took my shot yesterday.Just took the starter position, looking for a little bit of a dip today to add to the average, but we'll see what happens at the open here. But what I really wanted to do was research on burros Dutch brothers versus Starbucks, right? And so I said, you know what? Let's let's, let's, let's go on over to the Dutch bros.Let's go find out exactly what the hype is all about. All right. So a lot of people have been asking me what's all the hype about with the Dutch bros coffee. This is what it's all about. Guys. Look, I'm going to show you guys here.This is Starbucks, Starbucks. Right? You see anybody in that low look, one car, one car going into the parking lot. We're about to show you right across the street. You see those cars waiting over there. That's what they're waiting for. They're waiting for Dutch bros. Look at the empty Starbucks right now.Let's go ahead and let's let's let's go get a coffee. All right. That was step one. And then we went to step two, which really this is going to be the one that I think really got me over the level and should get you to at least think about this as an investment or come to the Dutch bros. Look at this double lines.Two lines. That one that's true lines guys. What time was this at? This was at 12 in the afternoon. This isn't, this is noontime. This is not nine in the morning. This is not seven in the morning when people are getting their coffee. This is in the middle of the day. When most people are grabbing lunch, people are out here grabbing their coffee because they need it.They got to have it. And one thing I definitely could see was that Starbucks had not a single car in the drive-through. When I was going through this drive through. And yet there was about 20 cars in this. You guys tell me what you guys think. That's crazy. That's crazy. The Dutch bros, man, I'm in are these popping up?Cause I've never been to one of these, like a believer. They don't have them near us. Th th they're not where, where, so this is only out in Colorado. This is in well, it's in the west. It's in the west, you know, you gotta think it's Oregon, Washington, Colorado, California, maybe. Yeah, it did. He was great. It was way better than Starbucks.I'll tell you that. He was just saying. Hi, you got to write. I mean, you got, I become a Brose now I'm a bureaucalled Dutch Dutch brothers, and it's just the cert forum. It's just, do you want to be a bro? Do you want to be a burrows? We learned. So the pair trade is to short Starbucks and by Dutch brothers. That's that? That's what the crowd was saying yesterday. That's it? That's the Paris trade. If you want to learn a little bit more about Paris trading, can I tell you guys on the 16th, you just might learn from this guy.Pairs traitor right here. That's what we do. Come check out. Base trading calls, take advantage of any efficiencies. Do they got food there? Yeah, they got a concession stand. Joel, they got hot dogs. They got it all popcorn. What about cigars? So the real key thing that I also, we talked about Spencer and I talked about, uh, bros was that it's a very small location.You can't go on the inside. You can only walk up and get your coffee or go through the drive-through. I think this actually gives them an advantage over Starbucks that tried to do more of an in-person experience going inside. And I think really we're getting to the point in, in, in, in day where that experience is starting to change and the culture is more.Let me grab my coffee and get back. Okay. At that segment money match. What do you think has happened when you venture out of your house, which I'm not allowed to hold your iPhone up when you redo that? Yeah, man. Well, I don't have an iPhone, Jill, I'll be honest. I'm a fan. I'm a droid fan Raza hired a camera crew to do that.That was on the ground. Boots on the ground. Benzinga style. It's muddy Mitch with the report on Dutch brothers. We liked that we should do this segment like every Friday. It's okay. Boots on the ground. Getting in there, doing our channel checks, money match. Let's do some ticker time here. Sure. I have a few minutes.I don't know where Marcus is. I have emailed him. Uh, I have texted and he is Mia. We hope we can get him on today. What's going on with the spoos man?what's that? I said no, when it was making the new high I'm like, well, you know, I just said, I don't think there's going to be a runner kind of day. It's going to be like a two way day. You know, you made a new high may that, you know, now are we going to come down and make a new pre-market low and then rally back?I don't know. It's a higher, the day in is a high assisted day. One of the days you make the pre-market high. I, I don't know. I keep an eye on that. Oh, 7 75. I mean, if your man they stuffed it there, I don't know. I don't want to get old bearish on you guys. I'm not buying, day's going to be on the short side.Write that down on a sticky note, do not chase. This is not the market to chase, not the market to chase. We have not been in the market to chase for a long time. We are in the contrarian dream trade right now where everything's just chopped and slop and your fake moves. You're making money by dip, sell reps until we start getting into a trending market.So you have different types of markets. Your first thing as a trader is then identify what kind of market. Overall, you look at the 90 day trial, you can get a feel for what kind of market, where and what kind of market we're in. Bring up your IWM. It'll give you a really good field. It's like this what's today.Look like . If you're buying up here. Oh, let's go on. I got to buy. Oh, no, what's going on. I gotta sell. You're doing it backwards. So by when it's required, Joel, all just focused on, we know. Directional bets right here. But you know what? I don't focus on directional bets, not focusing on, I think this market's going higher.I think as far as going, I just had a big rip. I'm going to take some profits. I'm going to maybe short some stocks has had a big dip. I'm going to take some profits on some of my shirts, maybe buy some stocks, just like that, going back and forth and back and forth. You know, that's the way this, the trade, this market it's fade.The fade trade. We were in the 20, 20 trending mark and anybody who started in 20, 20, only new trending markets. Oh, we buy the dip on the trend and we make money. You're not in the trending market anymore. We are in a contrarion market. That's what we are overall. That's why we're looking at big moves. And that's why when you get a big move, you take your profits because if you don't, the market will take them away for you.Alright. Alright. Come and we'll see. We'll see what happens today. Pre-market low stands at 80 to one. O'clock. Uh, pre-market I getting farther away? Oh, 7 75. Maybe you'll get that gap. Fill today, triple D down to that. Uh, even though there's no gap in the S and P's, but there isn't a spy. So a lot of that action here off that number.Um, I mean, one thing, if you really think about it, like really macro. Not good news, right? Is that, I mean, is he ill? We got to find out the reasons, but this is, I mean, the news they gave us today is certainly not good. I don't know if anything is really bad news either though I've been in the believer of this market where if you're looking and you're trying to trade and get short on the bad news, it's been a tough go.Trying to interpret news is a difficult task in itself. And I do participate in that task, but interpreting macro headlines to drive a thesis for your stock, um, you know, purchasing or selling is difficult. I would just simplify it. Don't worry about the numbers. Look at the TLC. Look at the spa TLT actually leaking.What does that mean? It means banks. Eventually. If the TLT continues to leak here, banks will start to pick it up a little bit. We've seen the banks trade off with the Spire right now, but you'll start to see separation happens. So if the TLT continues to leak, I'd be a buyer of banks. And here right now, if the TLT turns around and starts ripping, which it's not it's leaking right now, bring up the chair of the TLT has so much information that nobody uses it.How many times did I mentioned the TLT on CNBC, the odd time somebody mentions that, you know, the 10 year, but they don't go up there. It's such a great indicator that nobody uses. So, you know, you're seeing it off half a percent right now, is that significant? It's a good size move. Sometimes some of these days we've been seeing the TLC to sell off a buck or two, but you bring up a chart of the banks.You bring up a chair to the TLT, do it right now. I don't know you can't hold, put them beside each other. We should start doing that. But if you look TLT straight down for two weeks, what are the banks done in that time? Straight up for two weeks, you think that's a coincide. Hell, no, there is a relationship there, a relationship where you can extract alpha from, and you know what a lot of traders don't even understand that relationship.And it's so simple. I was on mute. Sorry. Let's do some takers from the chat. Uh, let's look at one that we haven't talked about much. Uh, Oatley, O T L Y. This is from Edward Edward, a pure puree. G French, maybe. I don't know. I'm reading off the chat OTL. Why recent IPO, although I'm not very good at it. What is the symbol?OTL. Y yeah. What does this company do? I don't even know anything about this.No, uh, beyond meat style then, like, I don't know. I know nothing about this company that does Oak milk. It sounds like, you know, one of those health stocks that got whacked and it's been getting whacked for the last month stocks in a horrible downtrend, is it oversold massively? Are there bag holders all over this thing?Yes, there is. Would I be selling the rip? Yes, I would. My opinion. Okay. Uh, struggling currently, we're struggling right now. Now he was struggling. We were at the highs of the prima. Why are we up a buck on this? Is there some good news on it? Did someone say something that they liked it or something? Do you know?Like there's a ratings change. I'm trying to point it out here. Give me one quick, second. Uh, I don't, I keep an eye on, uh, you know, if you bought this bounce over the last couple of days, you want to really see a file through, uh, through, uh, 16, 21 hired 16, all wait, 16, 21. I think things really open up after that, if you want.I don't know if it's going to fade today, but if you want to try and pick it up on a fade, uh, the top of yesterday's range is 1495. So not much resistance until the lower 16 Andel. And if you're wanting to buy it back on the DEP, uh, and you don't want to buy the head of a gap fill or out a gap, fill 1495.I think Emily tried this and then I don't think she liked.Doesn't sound very appealing to me now. Now I don't even know. What about, what about Qualcomm here from Zachary Qualcomm? Qualcomm. It's been awhile. I've had this in my long-term portfolio. I hardly ever trade this stock too. I should start trading it more, but I've had this in the long-term portfolio. It was the one stock that I bought in March of 2020.And I've stuck with it. It's been a double for me. I don't know. You're at some major support at 1 25. It's got a 2% dividend. I don't think it's going back to a hundred. I'm just saying. Uh, not doing much. Pre-market trading up just a tad. Uh, the told yesterday, excuse me, hold yesterday's love at 1 27 58.You're already above that. And, uh, the next minor resistance point, I think he got some room up here to one 30. If you're looking at a shorter term trade, your four and five day highs, 1 29, 79 to one 30. All right. Couple people asking about, um, where and infrastructure mic. This is a company that recently spun off one of its assets to private equity firm.And today is they're going, ex-dividend on the special dividend today. So that's why it's not actually down 80% or whatever. Uh they're uh, they're paying a $37 38 cent per share special dividend, uh, and it goes X today. So actually up 9%, it's a symbol mic. So they spun off the majority of their business.Obviously it sounds like $3 and 31 census, the adjusted clothes. It's a 360 1. It's actually trading up 9%, right. From where it closed with considering the spinoff. But obviously, you know, it's only an extra 30 cents from $40. So it's not like your bank, you know, a hell of a lot of coin on that on, but it's up 30 cents from our closed.So don't freak out. It may look like down 90% where 80, but it's not, it's not. So there's that. Uh, okay. Someone asked about Netflix, please. You said, please, Netflix. Okay. It's a such a monster. It continues to go up. It's been the driver of, you know, it's been a driver for Fang rally, obviously it's the end and Fang, and it's been a driver here.Um, you've got a candle. Is it over bought? Absolutely. Doesn't need a pull back maybe, but the stock has just, you know, on a monster tear, the content that they keep pumping out. Some of it's good. Some of it's bad, but there's so much content and I've become a firm believer when it, when Disney came up with, with Disney plus, I was like, this is going to be, you know, uh, a big competitor to Netflix.And I've realized now that Disney it's problem with Disney plus is that they're too concerned about putting out only good content. Netflix, Tom. So content and I looked at everything out there, everything out there, and you look at Disney plus, and I was like, I don't have any new content. They come up with like three, four new shows a week.It's so slow. Netflix. They're like 50 new shows a week. Okay. 25 of them soccer. 30 of them suck, but there's some good stuff in there. So I don't know what Disney's got to do, but they've got to start pumping out a hell of a lot more content. If they're ever going to complete Pete with Netflix. If I didn't have my kids, I would cancel my Disney plus subscription because I don't even look at it anymore.The kids liked Disney plus lots of good cartoons, lots of high quality stuff on Disney plus, but there's not enough content. Netflix is the king of his it's the king of pumping out content is the best content. Maybe not, but they're the king of pumping it out. Dennis have content out there. They've got so much stuff on.Um, that, you know, I've realized that they are going to remain the king of streaming for a very, very long time streaming. It's not going away. I would buy Netflix on pullbacks. I didn't like it, you know, two years ago, we know I kind of turned to neutral, um, on it awhile ago, but you can see it's grown into its multiple to a certain extent and only trades like 55 or 60 times earnings, I believe on four basis, which isn't even that crazy.So they've done everything right. And proven me completely wrong on this. Me and Michael Pachter were wrong on it. Um, I'm not saying I'm coming in and chasing it here, but I'd be a buyer pullback. Somebody, have you seen squid game? Have you watched that? Oh, should I everybody's talking about, I haven't watched any of that shit.Cause I'm stuck at home. I should probably watch some but a game. Yeah, it's a, it's a South Korea. I believe south Korean show. Every it's like the most popular show in the world right now. It's the most watched show that, um, I think, I think it's, uh, um, the dystopian. I, again, I haven't seen it, but it's like a dystopian game that you have to play or you die.I'm sure. I'm sure people in our chat can correct me if you've seen it, please. Correct me. Tell me if I butchered that, but I think it's like, uh, uh, you have to play in this game or you die. It's like a, sounds like a hunger games. I, yeah, I mean, again, I haven't seen it. Um, but it's, it's all, it's like the number one trending show right now.So I'm sure here I'm catching up on the chat. Did you hear, um, the last, um, uh, I think for the season, the last Ted lasso, did you check that out yet? Dennis Spencer. Do you know who his characters are? Patted down? Did you hear about post? Do I know who it's pattern after? Yeah. His characteristics and everything.No. And who they consulted with? No. Hello? Oh really? Yeah. That's funny. Yeah. Yeah. Uh, but anyways, back to Netflix and, uh, whoever asked about Netflix. Yeah. You know, I'm sure they're a long-term holder and they're thinking about where they buy seller hold, um, 6 30, 9, 10. I'm not going to give you the old time high.You can look that up on yourself, but 6 39 tens the all time high and you traded below it yesterday. So, you know, it's free to make that red candle, you know, to make me forget about it. Candle, um, make me a new all-time closing high 6 30, 9, 10. That's what I want to see if I was long Netflix. Yes.Parallels say 28, 6 29. Can I just say on this. Same thing just happened again. Can we bring up the creamer? Because everybody's like, oh, we're going red. We're going red. You know what the smart money was doing by that last dip again again, inside candle from where we actually traded Joel from that. So we had the opening eight 30 candle, which went better by doom and then they bought it back up.And then we had decided an inside candle. Again, we got down there near that 4 38 level on spy and higher once again, by the depth can't shake yet, keep trading that shop and you're trading the chop. How do you trade the chop? If you're new to markets, you trade the chop by buying the dip and sell on the rip.And I'm like a broken record here, but you know what? When you're making money, you stay a broken record and you stay on what is working in. Fade. Trade continues to.I'm going to hop off cause, uh, my folks, uh, miss pre-market prep plus yesterday, so I'm going to hop over there and, uh, cover the symbols we miss. So as a reminder, everyone, next set, not this, not tomorrow. Play that video, man. I get off. I get all psyched up. When I see that video, I'll play that video. Uh, Mitch Avett, this one, that one kid ready?Pre-market prep plus. So here it is trading from relationships. Hair's trading zipper theme, trading, risk arbitrage, and then we'll even talk to social media. This is your chance to be there. How to increase the odds, going to dive into relationship based trading Pierce trading sympathy, trading basket trading, risk arbitrage, then get ready for the event on October 16th, you guys think we're fired up on the pre-market cup shelf.Then be there October 16th for trading from relationships to. There you go. There it is. Next Saturday. Pre-market prep.com. Learn more about that also everyone. Hey, please remember that all the information from our show, from all of our shows from every show meant to be used as informational purposes only, and not for investing or training or even life advice for that matter.We don't really know anything about anything. Um, smash that like button, please. And thank you. I will hopefully be back on camera on Monday, supposed to get some new equipment over the weekend here. Uh, that will be great. And, uh, thanks to all of you for the well wishes. I appreciate it. How are you feeling?Excuse me. I'm feeling okay. Um, actually I'm feeling a little bit better than REO. Oh, Arielle started getting some symptoms. Yeah. She had the Medina. Uh, she was feeling fine, uh, when I was feeling, uh, sick and now I'm feeling okay. And she's feeling a little sick bottoms just as she like, just this cause, you know, cause not all of us have COVID so we kind of want to live vicariously through you guys.Yeah. So she, uh, congestion just like me, but also what I did not have that she does have is she's got some like temperature, like she, like she's got some like chills and like sweats going on. So she's, she's trying to fight, fight her body temp right now. Um, which I did not have. I didn't experience that.Um, but yeah, like you've sounded good the whole time you haven't really sent. Yeah, I felt, I felt not good Monday. I thought it was a cold. I felt worse on Tuesday. I have felt better. Every day since, since, since two PSAs, basically since I got diagnosed, um, uh, no, I haven't done anything. I've just been taking, you know, decongestion for the entire time.Um, and, and, and NyQuil, uh, but you know, my, my congestion has gotten, I've gotten better. Uh, I'll get the, I'll tell you all about this on Monday or Tuesday. Cause I'll get the Regeneron treatment on Monday. Um, so that, that should probably help. Um, but that's the sample. How do you know anything about how the Regeneron treatment works?Is it I V yes. It's, it's an hour long IVI treatment. Um, is what I was told. I'll be able to tell you more about it after Monday when I get it. Uh, the only reason you can get that it's because of asthma. Uh, yes. Yes. Uh, so there's. And, but I think for all the well wishes, I mean, I, I, I, again, if I didn't, if I didn't know better, I would think I just had a cold honestly.Um, but the trick is like, every time there's anything new, you're like, oh, I didn't, I didn't feel that before that's something new, you know? Um, but you know, it's basically like a T you're on I'm on like a 10 day clock. And as long as it doesn't get worse within like the 10 days, you know, I should be okay.So that's where, that's where we're at. Um, I got the Johnson Johnson. It has definitely helped. So, but I, I think everyone on Twitter, on the chat for other, on some people emailed me. Thank you for all the emails. Uh, the well-wishes, uh, I appreciate God don't wanna text me. They don't know where husband number, uh, cause I don't need that, but um, thank you everyone.Um, and yeah, I feel okay. I hope to be back on camera on Monday. Um, but, but it's been a strange week, but we're, we're powering through and uh, and yeah, so live training is going to go live in a few minutes. I'm going to end this stream. It'll redirect to live training with Mitch, with with, uh, Ryan, Florida.I will not be on it. Um, so everyone have a great rest of your day. I'll be on Dennis, have a good day. I'll be back on screen. You have a great weekend, have a great weekend. I'll be back on stream for power hour, um, in a couple of hours from now. Um, and, and yeah, everyone have a good rest of your morning. Go look at the open.I'll be watching live trace. I'll be watching. Y'all I'll be there on the chat and everyone. Good luck at the open and yeah, stay green.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

All Access Rising Stars: Growth And Small Cap StocksWatch hereEpisode Summary:Earnings from LEVI and TLRYAFRM rips higher againGM provides an EV updateGuests:Peter Tuchman, The Einstein of Wall Street, Wall Street Global Trading Academyhttps://wallstreetglobaltradingacademy.com/BENZINGA CANNABIS CAPITAL CONFERENCEThe premier gathering of cannabis entrepreneurs and investors in North America returns for a 2-Day Hybrid Event on October 14-15.Register hereMeet The Hosts:Dennis DickTwitter:https://twitter.com/STORYInvestorsMitch HochTwitter: 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 TranscriptComing 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 pen with everything that you need to start your trading day.all right, guys. I should be fixed. Now you should be able to get some audio from me. Now, let me know if you guys are picking me up on the chat. Let me know. I'll definitely check in here. We got sound. There you go. We got it. Guys just had to deal with a little bit of OBS action here, but I want to introduce the show today.We're going to talk about Levi's. We got to re general motors affirm Peter Tuckman, ticker time. We'll talk a little bit about Tesla's investor's day. There's a lot of action going on market. Bouncing back, Dennis. How's your morning starting first. And I haven't really determined yet. I'm not getting slaughtered, but I'm not doing great either.So, and then we know I trademark a neutral, you got the overnight positions. A few of my lungs are not keeping up with spy those. So that's by and the Q's tech stocks are repping. If you're loaded up with tech, stocks are doing pretty good this morning. If you've got other stocks, you're like me, there's some rotation here.Cause you're seeing oil trading down here this morning. A lot of the oil stocks are down. You're seeing a few other stocks just not keeping up with by, uh, tech is definitely the strongest. If you go to the QQQ, as you can clearly see the tech is blasting off. I mean, this is an impressive less than 24 hour rally.We started rallying at one o'clock in the afternoon yesterday and we have not stopped since again, we are just Groundhog day here, we get down to that bottom of the range and then they rep at higher, but you know what? This time we blew through the top of the range, the overnight traders, we closed at the top of the range and we blew through it and believe it.We've been talking about this weak market for about a month, the entire month of September in one trading day, not even 24 hours since one o'clock yesterday, we have almost got a 50% retracement of the entire move on spy. That is awesomely impressive. How I'm calculating that for 54 of the high back on September 2nd, the low, just from three days ago, 4 26.So you got about 28 points there. Well, if you take half of that 14 off the 4 26, you have the four 40 and lo and behold, that's where we were almost got to this morning. So you're almost out of 50% retracement in one day. So getting back half of last month's losses on the spy in one day, this market is nothing short of impressive.I'm still going to say Spencer, Israel's going to be right. And we're going to make new highs by the end of the year. But I'm also going to say, if you're buying it now, what are you doing? You're buying it now today, you were doing it, doing it wrong, man, doing it backwards. You're doing it backwards. Five dips and sell reps.And what a rip it has been. We were the low yesterday for 27. We were up 120 SOP handles in less than 24 hours. That is a hell of a rip. Yeah, it's a tough one. I drew a circle there, right where the 50% retracement would hit and drew the fibs from the top there. And we'll see if we can get through that level.It's frightened. Uh, 4 40, 25. So that's kind of the level that I would look forward to get it above today. We'll see if we can get through that level. But I mean, a lot of times when we've been seeing this pre-market action in one direction, it's kind of worrisome to get it to the open what's going to happen.Do we get a wash out back to support or do we get another rip up? Well, we'll see what happens in the overall market and see what we can continue. Now. One thing I will say is the tech definitely looked strong, uh, really nice bounce there. Uh, I, I really like how it's holding this upward trend. You know, if you can draw that trend line going up, you could see last time we went through it here in June 19th, we, we ripped off that we actually made a 20% move.Uh, from that about 19.68. And now we're looking to see if we can get back up there to three seventies. That's the level that I'm looking at to see if we can get back up and start testing to get back to all time highs. We'll see what happens in the QS. Let's go ahead and let's get into Levi here. Uh, so want to go ahead and start getting into our topics of the day.Uh, Levi actually earnings beat here, guidance res, and a buyback. Uh, let me go ahead and pull up Levi here. Lots of good stuff being said on Levi. Um, it had low expectations coming in. The stock actually made a new low on the move the day, you know, hours before, uh, it was due to report. It's a low bar beats, a low bar.There's still an ugly, ugly, ugly downtrend. Kind of break that down Trinda the day. Maybe I would say you got massive resistance up at 26 though. Um, I don't see much of a trade here other than if I was looking at I'd probably be selling it up into the higher 20 fives. Well, next we'll fly through these topics.All right. All right, let's do it. Let's do it. Let's go to the next one here. I'm I'm willing with that one. Let's go ahead. Let's get into the next one. Next one up is going to be till Ray. Uh, this one's interesting because it dropped after earnings, but I know that there's some people keeping a close eye because I mean, you've been here in talks and Congress each time it does that.It pops up for a little bit, but faded back down, uh, today traded a little bit down on that news, starting to come back. Uh, and w we'll see what happens here with Tilray I'll I'll pull up the earnings. What are you thinking? Uh, what are you thinking, Dennis, about the cannabis industry here? Um, All right. So earnings were in line sales missed it.Wasn't a great number. It's being helped out by a really strong tape today here. And people are looking at buying dips on everything. So anything that's dipping after, you know, you've got such a strong mood. People are like, okay, I need to get some capital employed. Oh, by the tail rate dip, just cause I need to buy some stocks.I mean, we're oversold. We've been talking about the, the cannabis stocks being oversold for a long time, from a valuation perspective. I'm an old, none of them because they're all still expensive. But from a technical perspective, these stocks are oversold. You know, look at Alibaba. We'll bring it back over to that.But it's, I know it's not on your schedule, but I'm going to take it to the tangent because we talked about it two days ago being massively oversold. And we've been set up a trade for you yesterday saying if you wanted to take a flyer. And I liked the Alibaba pullback yesterday morning, it was down two bucks.And I said, you've got the level of lean on it's 1 30, 8, 43 while you know what yesterday's low 1 30, 9 96, a dollar and a half. You would only have to take, you know, not necessarily to what it got, the absolute low, but 1 40, 1 41, your risk and a couple of bucks to get that potential pop. And we talked about one of these days, it's going to have a 10 point bounce.We'll just DIT. It just had a 10 point bounce from the Lowe's yesterday up to today. So there it is. Alibaba oversold starting to show some life. Um, I still like the LA Bob, I'm still longing in the longterm portfolio. Um, I'm not going to buy it when it's up 10 points in one day though, but you get a pullback here.1 45 ish starts look interesting again. So I am buying depths. I'm always buying depths, but I'm looking more actively here. I try to buy a couple of stocks yesterday in the longer-term portfolio. I can't even remember what I was buying. I was nibbling in a few things like we know I'd bought Cleveland close awhile ago.Um, it got really whacked yesterday at Goldman with some commentary on cliffs, but he also had them comments on the U S steel. So there is opportunities here in individual stocks when they get these. At the same time, you know, I, you know, you want to be looking at the trends. You want to be looking at a lot of the things as well.Uh, taking a back to Tilray cannabis way, oversold Tilray way. Oversold, could you have a relief pop to 12? You could, but the trend is just not your friend here and there's so much overhead supply. Do I think this thing's ripping to 14, $15? I don't think you're going to see that much of a plot, but it has been pretty easy on the shorts here for the last few months.So I wouldn't be surprised if we could squeeze them up to 12. I don't know if I'm playing. Yeah, I, at least I might try to play Tilray if I hear some news more, not really on earnings, I'm really just paying attention to government news. Macro news is going to be the big thing for cannabis. I think in 2022, I'm looking for deregulation.So for right now hands-off for me on Tilray and also for me, Dennis, I'm still hands off on Baba. I know that you've been seeing that in for traders. You have a level to lean on, so definitely you could focus on that. But for me, a lot of the times I have to get away from the market for two to three hours.And it's just not something that I want to hold right now with all the concern in China. To like always just do your own risk analysis there and Baba bouncing back there at 10 points. I mean, that's a, that's a big move there. All right. Let's keep going. Let's get into the next one. I'm sure that a lot of people wanted to talk about this one.GM provides a motor electric vehicle update. Let me go ahead and pull up the chart here. See if we're finally getting some reaction because yesterday, I mean, we, we really didn't get reaction from the news, but it looks like we're starting to come up here in the pre-market. That's kind of that window space that you see there.Um, and so pretty much from what came out was that GM hopes its efforts will boost operating margins to 12% and 14%, uh, by 2030, from 7.9%. Last year annual revenues is expected to double to 280 billion from a five-year average of 140 billion. So really, I mean, this was really, I think a call-out that, Hey, we're going after you test.And it looks like GM, not doing too bad in the pre-market. What are you thinking? And it's lifting. I mean, you've got some overhead supply here to double top of 55 and a half. So there is some work to do to try to get back through 55 and we did fall off. We have had a pretty good rally here. We know I'm long GM and the long-term portfolio.I still believe in the story. I still believe GM's going to be a major player in E V, but it's had a pretty good run here. You've got a 50% retracement of the overall move. I think you're going to run into resistance and he got some work to do in this 55 areas. So I'm not just jumping in GM. If I had it on for a short term trade, I would probably sell it here to be honest, completely talking.That's my longterm buck. Uh, but it's not on for a longterm trade, I believe in the story in GM longterm. Uh, so I'm, I'm sticking with the for now, but I don't like that 55 level. I think, I think it's got some work to do there. So I think you're opening up in a resistance. All right. Now, uh, kind of levels that I'd point out on GM.I'd go to the date. Uh, I like this 53 50 on downside. You've got multiple closes near 53 49 a we'll see if 53 50 can hold today. And on the upside we want to get through these highs. 55 50. Um, you also got here 55, 64. Let's see if we can get through those highs today and really get that breakout in GM on the outside.I'm thinking. No, I'm thinking, I don't think it's got the gas to get through it, but maybe I'm wrong. I just feel like let's take it back here. You know, just, you always want something to look forward to and people were looking forward to this investor's day. For a few days, we had talked about it, the stock and kind of run into it.It got lots of attention on CNBC yesterday. The CFO was on, um, on, uh, CNBC with an interview. I mean, they talked, I mean, it was the talk, you know, it kind of got, it's like time in the spotlight there, you know, the heart spotlight and the media, it was talked about all day as. So, you know, you get the pop and people are like, oh, I seen, saw that GM.I want to buy that. I feel like that the Johnny come lately. So like I said, I don't see the catalyst to just drive us through that major resistance. I mean, if we were above the resistance and it was open, but I, all I see is major resistance. I see a stock's been moving up nicely. It's been a nice move.It's moved up 10% last month, not even the last three weeks. So I just think it needs to take a pause and you just take a breather. Do I think GM's going, you know, back to 48 now, but I think it needs a breather. Okay. All right. Want to take a second here? It looks like we're getting some questions in the chat.Yes. Spencer Israel. At the doctor right now, nothing's wrong with him? He's taken the morning off. He'll be back with us later. Joel will also be back with us taking a good vacation. That is well-deserved. So we're going to keep going through the stock. Let's go ahead and get to the next topic here. We're running through it this morning.So we've got a lot to get to, so that's the good thing. Let's go ahead. Let's get towards the next one. We want to talk about, uh, from here. Affirm is really interesting. It ripped and I'm sure Spencer was looking at this like, oh man. Shouldn't I got it. That's that stop-out but really, I mean, I don't think anyone knew this news was coming, but one thing that has been pointing is, is a increase in retailers.Right? Affirm went first. Would that Amazon now go into target here, uh, as they've ripped higher, after a deal with target being announced yesterday, uh, and really getting an immediate lift here, um, right. Pop 20% every time they announced a deal with a major retail. That's what I want to know, because I think you and I both want to trade that.Wasn't the last one, Walmart. So when did we have the big pop from w w when was it? I'm probably looking at the chart was probably the gap from like 88 to like 1 21 that one day. Wasn't that Walmart. Yeah. They come with a big, you know, with target, we're going to be Costco and then we're getting another 20%.So eventually these moves are going to start to be more muted, you know, from these big deals, we saw this with, beyond me, not saying a firm, not comparing it to the army, but I'm comparing that type of news where every time beyond meat would get a new deal, pop 20%, every time we get a new deal pop 20%.Well, eventually it wasn't popping at all on the McDonald's deals, you know? Cause that's just like, oh, it's just another deal. So it was Amazon. Sorry, it wasn't Walmart. It was Amazon. So that, that, that big one there, but I mean, okay. You get the big deal with target. I think the pop was ridiculously over done.Uh, but I'll tell you one thing I never showed a stock making new all time. Um, and it's been a good move for a firm here. It's a stock that's massively in favor. It's the kind of stock you want to be buying depths on. I'm not buying up 20 points on a deal with target though. Nah, I'll be looking for pullbacks closer to towards 1 26 50 out the gates.We'll see if it can come back towards, um, that's actually a prior breakdown spot. If you look at the pattern that was between the 24th through the 28th, that's where it broke down and helped support multiple times. We'll see if it holds there again. Um, with the firm you just mentioned, Dennis, I'm going to be looking for that Walmart news now, uh, you, we got target.We got Amazon. Why not Walmart? Right. Well, that's it. So, I mean, and that'll be the blast one, but again, when you, you, you, it's hard to be sure to stock if it's going to pop on, right, because it's gonna be no more deals. There's going to be a lot more deals for affirm companies. So they're just not going to keep popping them 20% on every deal.I think it's overdone. I think it was an over move. I wouldn't be chasing this move. I don't think it's going 150. I think you're probably going to see, and we have some precedents. I mean, after the Amazon deal, I came back down after that as well. And we're in the market where patients pays. And what does that mean?Don't chase, you don't need to chase in this market. It's not the market's just blasting off an Orban, leaving it behind. It seems like it always gives you another chance. Just like in GM, it gives you another chance. You know, if you're chasing stocks and this market, you're absolutely doing it backwards.That has been a contrarian market for the better part of nine months. And that continues to be the case Palentier great example. From two days ago, I tweeted out when it was at 26 and a half that, you know, these are pops that are to be sold on when you're getting these news pops, because this is the type of market we're selling.The rip has been working very, very well, and it didn't even take one day and Palentier gave it all back yesterday. Yes, it's up still 30 or 40 cents, but it was up like 15%. And if you're paying. 15% on a stock, on a headline. You're the one that is transferring your money to the professional traders, the traders that are actually listening and actually using the information and selling the rep.So don't buy the rip, sell the rep. That's my that's, that's not investment advice, not training bites. That's how I do it. That's how I'm consistent. And you know what, and summoned market environments that pays to hold on. And sometimes I'm out too early, but in this market environment, the contrary and has been winning, somebody set up for him already got the deal with Walmart.So I knew it was a deal Walmart with there somewhere. There was, I haven't heard with Walmart. I have heard the Amazon. I mentioned Amazon. I feel like there was one with Walmart too. I feel like we know Amazon Walmart target so what's the new, what's the next catalyst. Then if you got the big three off. I don't know, keep it going.Right. I mean, I, I, you're not going to keep getting 20 point pops on every time we get a deal. Yeah. That is true. I mean, I think it's been a little bit excessive on the moves, but one thing to keep in mind is if you had, you know, Benzinga pro you probably can get to the news quick. This is a quick kind of trade when the news comes out, as you guys can see, um, let's go back to, uh, from here, you can see in what, in 1, 2, 3, 4 hours, it was already up there.Um, so this one, I think they released the news right at 9 32. Did you see that, Dennis? I didn't see the news earlier. They, they did one of those right at the bell kind of releases. Uh, I know Benzinga pro picked it up at 9 41. Uh, I'm pretty sure this was released at nine 30, right out the gates. That's the one thing on some of these headlines, especially when they break during the day.Sometimes it does take a few minutes to digest. Thicker there's liquidity out there. And then, you know, what happens? They talk about it on CNBC all day. They talk about it on, you know, Bloomberg. They talk about it, but it's like, they talk about it everywhere. So as I continue to talk about it, people are like, oh, I want to go by that.You know, media drives price. We talk about analysts, driving price, media drives prices while you know, why does it work that, you know, in the alphabet, I always talk about extracting of both the run-up into an event. Why do you think that run-up really occurs? Because the media is going to be talking about the apple event coming up, the apple event coming up, and what that does is it drives retail traders in the stock because they say, oh yeah, I want to buy that, that retail events coming up.And then, you know, obviously the, the, you know, the stock continues up. So that's really what drives it as media mentions. And you've got to, if you can anticipate the media, get ahead of the media. Um, you can make a lot of money in this market as well from a short-term trading basis and a medium term trading basis, not so much a long-term trading basis because the media is usually a topping event, but you know, that can actually help you to, you know, like often I say, you know, when everybody's talking about stock and social media, when they start talking about it on CNBC, sometimes it's time to ring the register.We talk, uh, you know, we talk with Chris Camilo from dumb money and that's what he talks about is the same thing. You know, he reads social media and he says, what's getting hot. And he likes to move into those stocks when they start talking about a mainstream media, that's where he calls information parody, where everybody knows about it now.And that's the time to get the hell out. Yeah. That's a crowded trade that we saw happen also in CEI. Uh, I think that that's kind of a perfect example also, uh, everyone all through this period. Yeah. It's all over social, social media, social media. Then you start seeing it on all the media sites on this last little.Then boom. It starts to break down. It's just, it happens often, especially with these big, cheaper names that make massive runs, right? Yeah. Well, there's one happening right now. Then Chad's talking about is BBI G and I have no idea what's going on with VBI G um, it's something 22% here this morning. It's probably somebody has mentioned it in social media.You know, there's probably some, you know, um, you know, not that they're promoters, I don't know, you know, who's talking it, but it's a guarantee is probably being mentioned by some of these people who have massive followings in social media. These have been selling opportunities. So I'm going to say it again on BBI G they're stuck in this thing you bought a 10 or 11 or 12.I don't think you're getting your money back. I think you're cutting your loss when you can. I think you're using rallies to get out because I believe BBI G and I don't know anything about the company individual, but would say it seems like the majority of these stocks that have these huge moves, two to three.Eventually come back to where they were once that everybody, you know, is basically, you know, so, I mean, you gotta watch these promoted stocks and social media. And so something Gensler is going to crack down on and he rightfully shit, you know, when you have, you know, people come in and they're promoting stocks or buying huge positions and then promoting them on social media.And then, you know, obviously, you know, what happens is they get the buzz and everything gets going and you know, it hits Reddit, everybody's talking about it and then, you know what everybody's already in. And then it starts to leak and leak and leak and leak and leak. And before you know, it, you've got a CEO while CEI was a sudden one because the short seller attack that one.Um, so that wasn't a good example, but there's a lot of these other ones, you know, AHT was one that everybody was talking about on social media. Some of these short squeeze stocks like bed bath and beyond was one. And it's come back down. So what I want to tell you is if you sticking these in your longterm account, the majority of them are going to lose you money.If you want to trade them on. Trey the momentum, when the trend starts breaking, you know, you've got to get out. You got to get out once in a while. Minimum turns because there'll be a lot of people caught or crowded trades very quickly. And all those people will be looking for accents eventually. So this BBI G trend absolutely broken here.Now it looks to me like you don't know why they eventually wants to go back down to $2. That's just technicals. I don't know anything about the company's fundamentals. Maybe there's something good going to happen here, but I would use all strength to get out if I had BBI G all right, well, I have the news here for us.It was actually looks like we got an acquisition here. Vanco for, uh, ventures, Vindico ventures shares are trading higher after the company and sash global reported the purchase of add riser for 108 million in cash and stock. Uh, so it looks like there is an acquisition here, uh, with BBI G is buying somebody.So, okay. So the headline that broke eight o'clock, that's why it's lifting. Is this thing, bringing it back to 10 or $11? I don't think so. I don't know anything about any of those companies though. Um, I'm just reading off the technicals and Sandy got a lot of people stuck in this stock. All right.Definitely. Let's go ahead. Let's take a look. We'll we'll see what happens with this one. I'll keep an eye on it. I want to shift on over. Before we get to Peter Tuchman, he should be here in about five, nine minutes. Let's get into a little bit about Tesla's investor day today. Uh, Tesla has their investor day today.A lot of people are expecting to get some kind of updates. Now, what could updates, could we get let's go ahead and talk a little bit about that. Uh, looks like. That's my notes there. All right, let's go ahead. So really this is going to be some of the things that we're going to be looking at is to see here about the Berlin Gigafactory and will it start producing cars over the next month?Uh, the move would also relieve, uh, logistics bottleneck, because of course, Tesla's model three wise are being produced in China and shipped to Europe. Tesla's new Gigafactory that's being built near Austin is also expected to be completed this year and begin full scale production in 2022. So we're going to be paying attention to that.Other areas of interest are going to be Tesla's battery technology, China's growth and demand, and the competitive environment also pay attention towards talks of chips. Tesla has been talking that they want to produce their own chip. So you could possibly get an update on that. I know that a lot of people are going to be watching to see what happens with Tesla.Uh, I get you guys. I'll get you to the exact time right now. I think it's at nighttime. A lot of times Tesla's invested days are at nighttime bullet. I'll give you it right now. Okay. He's going to go find that. Um, I do have a trading position on Tesla, so I'm going to limit my comments. Oh, it's going to be an interesting one for me.I was watching it to see if it was going to turn around with the market. Looks like they're going to be holding. Uh, last time it was at one 30 Pacific time. So we're talking four 30 Eastern. Um, that's probably where it's going to be at today. Yeah, that's what I'm getting at right now. Four 30 central time.So we're talking five 30 Eastern. Uh, it looks like last, last year they did it at, at four 30. They're going to do it five 30 Eastern. Uh, it looks like there's. And already a stream up there for you. I'll give you guys the link. I have it right here from Tesla. So if you guys want to catch that link later, Tesla's shareholder meeting starts live in nine hours, starts at five 30 Eastern.We'll keep watching to see what happens with Tesla. It's been fighting that $800 level. We got one peak above that. Can we get above 800 today? It's going to be interesting. That's Hollywood. I would be watching with the market going up and EVs kind of getting a little bit of a lift, you know, GM news. I'll be paying attention to this one.It's definitely going to be on a lot of traders, radars. All right. Uh, any important stock you guys got in the chat? Definitely mention it. I want to catch news that you guys see out there just in case we're missing any headlines. Now, one that I did want to talk to you about, uh, Dennis is Roku. Roku has been really pushing in Canada.It was said that they have 41%. Of TV streaming of people that have added TV streaming in the last 12 months to I have two Roku's. Yeah, we were talking about it with Joel, uh, that you had to, so have you heard any talk? You know, how, how has Roku and Canada? I love the Roku. I love using my Roku. I mean, it's the cheapest way to stream.If you don't have a smart TV, obviously I have a smart TV. Maybe you don't need the Roku device, but on of, or older TVs that don't have the smart capabilities. I mean, it works fantastically. It's 40 bucks. I go and I, boom, and I got everything on there. And even the Roku channel actually has got a little bit of content on there as well.So I love the product, I hate the valuation. Um, so that's why, you know, I haven't put this in a long-term portfolio, but what I will say as he had a little bit of the Alibaba trade Roku, massively oversold, and what it was yesterday was some of these stocks are massively oversold had relief pops, and that's what Roku had yesterday.A nice relief pop there's room to that high. I would say the mood 3 39. Um, then you're gonna start to get running into resistance up from 3 39 to three 50. So there might be another 10 points in here, but after that, it starts to get top and the stocks and a clear down trend. I don't think that trends breaking.I think the Roku's hot story has cooled off significantly and valuation is starting to matter. And that's why you're seeing the price there to come there. So I don't like it. Long-term short-term that it's had the move and would ask me yesterday. I would've said it's oversold and do for relief pops.Exactly what happened. Um, I have no position in it. I don't intend to have a position on it either. All right. We'll see what happens with Roku. Last time Dennis actually got caught in that analyst pop. I didn't sell out and ended up break even on the trade, even though I got what an overnight gift. A lot of the times I'm here.Dennis mentioned that and I think that it was an overnight gift. The last time it popped towards three forties. It actually got to 3 30, 9, 6. And I had my order to sell it three forties. That's that's what it has. That's how it goes. Sometimes you just gotta take what you got there. Uh, don't mess a trade.I always say don't miss a trade just to save yourself a couple of cents. You know, if you're in for a swing trade, I, you know, I hate lifting the offer hit in the bed, but sometimes you just shed. If you're in it short term, don't miss a trade to save yourself a nickel because it was opportunity costs are too significant.So when I want to get in the trade and it's a swing trade, I typically just get myself in from an execution perspective. If you're small enough, a lot of times you can go two thirds of the spread. So sometimes you're trading these thinner names, even like a Roku, for instance, and the pre-market, it doesn't work as well.But during the regular session, if you've seen Roku like 3 27, the 3 27 50, usually if you go 3 27, 30, 5 40 on the, on the buy side, you're going to up two thirds of the spread. Usually a market maker will headshot. So, um, that's how I kind of, you know, if you're small enough, I mean, if you're. 200 by 200 and trying to buy a thousand, your thousand share order pride posted.But if you try to buy a hundred shares, go two thirds of the spread. Usually you'll get that. That's some execution tactics for you. Yeah, we'll see what happens with Roku. I like the stock here always at 300. I've liked it before at 300 back when we were in this time. And then we got that big ramp up. It's definitely a support there.We'll see if it holds 300 from here on out and Roku can make a move back. Uh, Roku, look for FUBU. I know that that one likes to run with it. Look for that one. Maybe to get a little lift today. Uh, broker's doing well. If I saw Roku doing a day to move, I would also pay attention to see if you get Fuko to come back up.And one that has gotten through, and I haven't looked at that show in a while. No position. I didn't know what that lots of lows there though. So I actually don't mind the chart. You got lots of you putting a lot of work there, the 23 and then candy came out of that area yesterday. So not surprising. It's getting bit up, pretty solidly here today, Mitch 24 70.So, I mean, I don't know, maybe you've missed this trade, but for the pullback in the low 24 us, I find it interesting. All right. Right. So we had those lows 2299 the day prior 2301 and the day before that at 2272. So I would look for that 23 to hold on. Downside. We'll see a full boat can get back up one that did take a hard hit in the downturn in the market was Vizio.Uh, this is one that I've traded multiple times up towards 27, but it did come back down almost to the IPO low. It went right close to it. We'll see if this one can come back. This is also a company that trades really closely with Roku and food. Um, and we'll see how Vizio done, uh, and continues to move. As they've been trying to continue to grow their TV service, just like Roku does, would that live streaming to give you guys access to live TV for free?Um, and they're going to continue growing. Uh, we'll see what happens with these next one. I want to get into his rocket lab. Uh, rocket lab actually got a contract from NASA here. Let me see if I got the news around here. So yeah, they jumped on selection for NASA's launch. Um, so pretty much, uh, they got a launch.That's going to be in 20, 22, but I think it definitely helped the environment here for space. Um, we've been waiting to hear some more launch news if there's anything. Move, these kinds of stocks has been the launch news. Right? Um, so SPC, he also, you know, recently got that F a, uh, clearance back to, to go in up.So I've been wondering, when are these rocket stocks going to start moving again and the space stocks? So I'm wondering if this could start the day and get the lift going. I don't know. I don't follow the company. It's a nice pop. I think you've got massive resistance up at 16. So not a fan. Just be careful and, and chat.And Mitch might have to take that message down. I see somebody really promote promoting VBI G I don't mind if you're mentioning a stock, I'm mentioning that it's ripping, but when you're telling folks to get in quickly, you're going to miss the moonshot. That's promotional. We don't want messages like that.So GM, um, if you want to talk and mention BBI G that's fine. That's cool. Um, you know, that it's hard, it's moving up, but when you're telling people to get in, you're going to miss the moonshot. That's too promotional for this. Yeah, definitely a, if you're in the chat, I'll definitely get that out, clean it out here.She usually monitors up, but he's on the show full-time here right now. So, um, you know, we're not, we're not, you know, a ticker time promotional show here, so no problem to mention your stock. No problem to give your market opinion. But that's the, it's the fact when you're writing a message now get in now, are you going to miss it?I mean, that's promotional. We don't like that stuff on the show. Yeah. It's just how it is. I mean, at the end of the day, guys, there's no need to push people to get into a stock. If they clearly see it, they will clearly make that decision for themselves. And sometimes, you know, these handles, I don't know all these handles, but some we've had an issue where people are coming in and you know, you know, you have this issue match.Cause we have quite a few people watch the show and people come in trying to push their stocks intentionally and everybody wants to talk to stop. It's cool. You know, it's your opinion. It's cool. It's when you get multiple messages by now, you're going to miss out. I mean, that's where, you know, we, we, we don't like that stuff.All right. So we'll see what happens with rocket lab. Another one that I'm keeping an eye out for is, uh, S F T w a, which is black sky. Now, uh, this is one that I like. It's a S a P this is a play on imaging. Uh, max R is, uh, the competition, the major competitor. I'll see if these can come back and that will get me interested in black sky.Max are hanging out here at 27 50 Dennis. We've talked about this one before. It might be a level we've talked about the 34 before. It's definitely gone. Sideways. Max are, uh, we'll see if it can get off of these levels, interested in the stock for a long time match. And you know what? You do have a level here.So we will say on, you know, I just set up the trades, but look at this 27 level on max are, so I don't mind this chart. I'm actually writing it down. I have no position. But, I mean, these are the types of trades that, you know, are bouncing back. You're right now, people looking for the diamond in the rough with that being said, it didn't bounce yesterday.And that is somewhat concerning. Is Peter Tuckman there and we've got to repeater. Yeah. Let's see if he's here should be joining in there. There he is. We got Peter here. Let's go ahead. Let's get towards Peter. You guys know exactly who this is, but if you don't, you keep to find out the one, the only the Einstein of wall street.Let's go ahead and get Peter on here. What's going on, Peter? How are we doing? Hey guys, how you doing Dennis Mitch? What's up guys? I'm to come on there a long time, long time for me. And you you've been on the show a few times here, but you know, usually Spencer brings you on after nine o'clock and I'm gone at nine o'clock.So I'm glad they scheduled you finally on my show because I love talking to you, Peter Austin. Good to see it then. It's Hey Mitch, what's up guys? Hey, at least, you know, we're seeing a little bit of a bounce back here. I know Dennis had a question that we were talking a little bit on the pre-market show because we've been paying attention to, you know, Baba J D PDD.Um, I mentioned that I saw a block trade today, but then it's, I'll let you. Lead the question here. I was going to say, cause I want to ask Peter this I, me and Mitch were talking on the pre pre-market show. I don't follow block trades anymore. I used to, if I go back 20 years ago, when I was doing a lot of tape reading, I still do tape reading when everything was happening on the exchange, what you would see is, you know, you'd see a big seller in the market and then they'd be pushing the price down and then price be coming down.And then all of a sudden you see the mop-up print, the big block go and you know, okay, well it's done that seller is gone. And now the stock is gonna probably have a little bit of relief pop cause that sellers out. But the block trades are like so many different ones happening now and it's not happening on exchange.A lot of them are off exchange. You know, it could be a liquid net cross. There could be so many different things. So I don't give as much relevance as I did to them 20 years ago. I'm wondering if you still use block trades and how do you use them if you do so look, when you, if you go all the way back to the days of the eighties and nineties and early two thousands, when market man.And the, and the open outcry was actually an active part of our marketplace. Then block trades were huge. I mean, I was, you know, I've been a broker for many years and I was a broker for Cowan for a while. I did convertible arbitrage. And so, you know, as you described, you know, a block trade was literally you'd have a seller come into a crowd, you know, you, whether it was new Mr.Related, whether it was a big piece that was around, people were shopping the piece. And so everyone in the environment knew that something was going on. Every desk would have a meeting every morning. Somebody would have a big piece that shopping around and kind of see where the bodies lie. Where was there was some by interests.Sometimes if the stock was trading at 50 and the next real, real significant buy-side was at the $45 level, you'd start working the sell side, right. You'd see where, you know, not that Georgina heard anybody, but you just sort of cat to get to work with the order and you'd start making sales. And then as the community got focused on, wow, there's a seller around, you know, my interest is at the 45 46 level and that communication and that transparency sort of started to happen.Then people's interests got perked up. The market maker wanted to get involved then, right? Those were the days where if you had, you know, you could work a sell order over time. And then, um, the tag end of it, you know, with the, um, the prop trader on that desk of a house would say, you know what? We had a million to sell we're down to the last 200, I'm going to take our seller out and then they'd work out at that.You know, that work out of that last 200,000 and you'd see those trades you'd be able to identify if you were a at Cape watcher, as you described. And I just want to, and a lot of where that was a significant thing to see where the volume lied when the prince went on, that was more in the world of the asynchronous.Once we started trading at pennies and surely when we started trading electronically, you know, with the algorithms and with the handheld computers on the floor. And then with, um, you know, uh, not, not as many market makers in the crowd and their actual interaction with the trade right now, I believe that 90% of majority of trades are literally a hundred, 200 share loss.Right? You don't see those blocks. Look, you're seeing them in specs. You're seeing them, you know, there are off or floor blocks that are happening, that, you know, whether they're on the third market or they're happening on different exchanges, just to take people out because they, you know, it's a trade, it's a prearranged trade upstairs is a big seller.He doesn't really want to come down to the floor. He shops out a buyer and they put up a piece. So surely in the old days, it was a super exciting way to, uh, really kind of forensically understand who was there, what they were doing. And when the sell side was sort of getting exhausted and maybe it was time for us.In these days, you know what, maybe people are doing it. We don't do it at all anymore because if you look at the tape and you look at, look, when I trade on my handheld, you know, and I can hit sales, literally 90% of sales or a hundred share lots, you know, at one point a block is a thousand shares or maybe 10,000, but the days of a quarter million going up a million share print.I mean, I know there was a, you know, I, I, my biggest print was an 8 billion share across. It was actually how many shares. It was an 8 million share cross. It was a nice day. I went out to dinner and got, I went to the homestead and bought a really big lobster at that point. But, um, it was the, I was, I don't remember.It was one of the, um, it was one of the HDRs I think it was Televisa or, or Petro brah. One of those docs, we had been working a big piece. It was, it was overseas and it was a tagging of a much, much bigger. And I had a customer who was trading a lot of these IDRs and I got the print and originally I tried to go into cross the 8 million and there was a big, uh, buyer in the crowd and he actually broke me up.He was a million, you know, that, that's what you had to in the open outcry world, when you want it to cross and put up a block of stock, you had to actually bid and offer and then take stock from yourself. And in the eighth and quarter world, if there was someone out there with a big buy order, he was able to tip, block you on your trade.Right. And that was kind of a big deal. So, um, yeah, the days of blocks or, uh, SIG the significance of a block is over, unfortunately. Oh, sorry. I agree with you there too. Peter. So what, so talk about your market indicators. You're not looking at blocks as much as you used to. I mean, there's a lot of other different market indicators there.What's your favorite market indicators right now? Theater. You know what? Look for me. I mean, I'm watching. I'm sort of super fascinated by the way, the S and P moves. Right? And so, as you know, I trade IPO's, I trade sort of a pre-market dislocation to where the Dow in New York and the S and P are going to open.And then I do the closing trades. What's called the market on close trade. So for me, you know, we build a spreadsheet from two o'clock on people on the floor are given access to what the imbalances are going to be coming into the close of the market. And while, you know, it posts out at two o'clock, we have 378 S and P stocks that trade on the NYC.The rest are traded on NASDAQ. And so the notional value of those stocks to buy and sell can actually move a market. So for me, that's kind of what I watch. I don't watch any other kind of India. But, um, you know, let's just talk about yesterday for a minute, you know, what an amazing, you know, it's so funny to, uh, to listen to sort of the chatter, you know, about, uh, first of all, the chatter in the media, when there's one down day and suddenly, you know, this rally has been interrupted, the world's coming to an end, we're looking at a recession, all this kind of craziness.And I always say, you know, one day does not make a market. And then you've got the technicals Dennis, and, you know, you know how, you know, I'm a big, big, big believer in technical analysis and technical support. And we saw that 4 28 level in the S and P 500, two or three times we saw it happened on after last Thursday's big sell off 4 28 was the support.There was a nice pop after market close on that up to 4 31, we retested it again on Friday. Then we saw a huge rally and we saw it again yesterday. Right? You saw this market get down to that 4 28 level. And you know, David Green, my partner always talks about the second, the second, the first time. The market hits, the technical support level is its most significant, um, uh, power.And the next two times it happens, it may break through and we did see that a little bit, but yesterday was a classic amazing reversal. Obviously, obviously it was fueled by, by McConnell's comments. The market had reversed though before that, that, that pop right, which happened just before two o'clock we had seen the levels get down to 4 28.We saw a little bit of a double bottom there and the market then did reverse, um, before the McConnell statement. Right? So the mark was starting to churn. It was a little bit of that fresh, new October money coming in, you know, and, and then of course the statement was, you know, which has been on everybody's mind, even though I'm kind of baffled that up until yesterday.We didn't see more of a sell off in anticipation of a potential default. Although we've seen this bit of news. Year after year after year. And I don't know if it's actually ever defaulted. I think we saw once a short-term one, but you know, it's kind of that political posturing in any ways, but yesterday was the day where people were waiting for that news to happen.It did happen. The SMP reversed the market rallied nit ended up closing it the high of the day. So it was a beautiful, it was a beautiful reverse. It was a 600 point, uh, S and P reversal. At one point we were down 50 handles and the spirals ended up closing up 10. It was, and then we tack on 40 more points here, 40 more S and P points here overnight.What do you do now? Like I was saying before he came on the show, we kind of just quietly had a 50% retracement of the whole overall ugly September. If you look at spy, we go from 4 54 down to 4 26. And you know, now we just tacked on half of that and one day up to four 40. So what do you do now? You know what?These moves are spectacular. Obviously, I'm more concerned. It's beautiful to watch when we sort of ratchet down, it's sort of healthy. It's a healthy pullback, right? You guys do know technical analysis really well. I love listening to you to talk. And so you know that in like an, a trend trade, you guys were discussing it a couple of times that as a stock marches tire, you really in order to really get a good bicycle, you want to wait for that pullback, right?You don't want to just jump on board. And so when a market ratchets down like this and then sees this huge rally up, it's a little bit concerning. Now, do you just, is there a fear there's going to be a fear of missing out trade is going to be some short covering for people who, you know, followed the doom state report after one or two down days, or are we a little gun, you know, are we going to sort of, um, uh, do a little work at this level before we either go higher or lower?All they did do with the McConnell's statement yesterday was kicked the ball down. Right. We don't have any, uh, any, uh, uh, ratification of what's going to happen. I'm a firm believer that there will have, you know, with the witching hour, a deal will be made. Right. And so I think the market's going to have to churn here right now.Um, you know, from a short term perspective, you've got to look at the technicals from a long-term perspective. I think there's what yesterday, today has shown us is there's still a huge appetite in this market, right? We, there are people who say, are sitting around at this level with shopping lists, and I know you guys are traders, right?I hear you all the time, Dennis, you know, you're waiting. Sometimes these stocks get super frothy when the spies were up at 4 54, a lot of these stocks, you know, you didn't need to jump on board with them. You would either rather buy them higher when they broke through a level or wait until they come in and consolidate a little bit.So I think we need to churn and burn for a little bit here and see what the next little bit of news is. Beginning of November, we have the. Right. We're not sure if that will hear anything further, uh, you know, before the December, uh, deadline now on the, on the debt ceiling problem. So there's so much on the table.It is the last border. October is a rough year, a rough, a rough season. You know, we do always have that weird psychology about, um, you know, black Monday and the crash of 87 and which I lived through. And that was an extraordinary day. Um, I have really one quite amazing memories of that. I actually recently got, uh, met with a guy who, uh, I worked with an 87 on the floor.He came to visit, he's moved on out of the biz, but he came down to the floor two days ago. I hadn't seen him in since 87. And it was fun. Just sort of to talk about what it was like. He had not seen the floor since then. And, uh, uh, you know, that was a different time. That was an extraordinary day, probably one of the most amazing trading days of all time.I think we lost Mitch, but Peter. Oh no, there he is. Mitch's hide in the background. I don't worry. I took a little sip of coffee cause I needed some juice. I didn't feel the energy that I was getting from Peter. So I need to have that. I need to channel my inner Peter. Peter brings the energy will tell you that I don't need any copy.When I listened to Peter three espressos in guys, it's all good. Oh, you're beating me, man. You're beating me. I'll tell you that. One thing that I'm looking at is so going into the next year, you know, of course there's talk of inflation that, and when we finally will get interest to rise, if we do get it, maybe a quarter of a point, maybe, uh, maybe half.I don't know if we're going to get to that level, but what are you looking going into 2022? How's the longterm outlook going into next year? You know what? Look, I think we, there, there there's no playbook for this recovery yet, right? There's no way this is unlike anything else. We still do have a lot of unknowns around the virus and the reopening story.Some of those names are starting to get a little pop, but it's a little bit skiddish because that story can turn around on a dime, right? We get one surge of the virus coming into flu season here, and that whole airline cruise line story tends to go a little bit, you know, south for the moment, uh, you know, the federal reserve, uh, was, you know, in, in their, in their inimitable way to give you both sides of the story in one breast conference to literally confuse the whole investment community, right.They can go one way and then they go another and you always watch those fed days. They're amazing because the market just goes all over the place. As people try and interpret what they're talking about. I think the market can handle anything. It's going to be able to handle the inflation story, you know, thanks to a number of different, uh, uh, things we were able to handle the, um, pandemic story.And I think we'll be able to handle the ride, the ride, the intro, the pump up in the end. You know, th it's amazing how w the, the, uh, the resiliency of the market, the equilibrium that is, that is achieved. Every time we run into a crisis, every time we run into a movement and the interest rates, the market can handle all that stuff.As long as it's, it has a little bit of a runway into the decision. And, but right now, look, you know, I, I really kind of feel like we're, we're a Slingshot about to be just L you know, let loose here. There's so many new people in this market. There's this whole wonderful new generation of traders in the market.I hope they all go out there and get educated and technical analysis so they don't get hurt. I think that they are going to raise rates in 2022. The recovery story is going to be a good one to look. This inflation thing is, is fascinating. The supply chain interruption, which was absolutely caused by the pandemic, but necessary for some of these companies and some of these commodity companies to be able to sustain themselves through.Saying, you know, it's going to lead us to hire a, you know, and the relationship with the labor force, right. It's kind of cure. I'm still a may. I would love to know what your guys think about this. The fact is, look, I did a piece on, um, Fox the other day with Neil Kabuto and we talked about, there are apparently a huge demand, so trucking, right?It is a huge problem. Trucking and shipping the logistics of that, right. We've got, we've got, uh, ships on both coasts full of stuff, trying to get to the Heartland with nobody to drive the trucks, to deliver all these things. There's that fear of how people are going to get, get, get through the holiday season.Are people going to get their, their products are not, and it's amazing to me that there's suddenly a shortage of a hundred thousand truckers. We have this problem before the pandemic that these people just leave the labor force, where is everybody? Right? Why are we having this, this, this incredible, um, obstacle?Eh, you know, you're seeing it in, in, in hospitality. No, nobody's there, there's a shortage of people in the hospitality industry and the trucking industry and the shipping industry. Where did everybody go? Are they still at home and anxious not to go back to work? Did they leave the labor force? Did they make enough money trading notes going that they never want to work again?Where is everybody? I think you and I are asking that same question. I think everyone's asking that question because there doesn't seem to be an exact answer. You know, you can blame it on the pandemic, but at the end of the day, W, like you said, where was this before the pandemic? Was there an issue before?It didn't seem like there was a, now it's definitely pressing. I, I think just, you know, the human nature to a certain extent has changed. I mean, you have people more focused on family now and the important things in life that gave us all perspective because, you know, even though it looks like, you know, we're coming through it, not bad.I mean, it gives you perspective that, Hey, you know, the mark, the world is fragile, it's a fragile place. And, you know, we got lucky that, you know, the death rate on COVID obviously wasn't a lot higher, you know, because at first we were looking, we didn't know what we were dealing with. Some people were projecting this good know, you know, be as much as a high as a, as a five or 10% death rate ended up being only fractured the percent lucky for us, but it gave everyone perspective on like the important things in life.And people are like, I don't want to go to my nine to five job and get 15 bucks an hour. And then you have the whole inflation aspect of it too. And people, you know, saying, why am I going to work 15, 20 bucks a night? When, you know, it's cost and more till every day too. So I think just priorities of people have changed putting their families, Dennis, I don't know.question. I get it to be paid. I get the anxiety about going back to work. I get the fact that we've been sheltered in place and it's kind of hard to get out that door. I see it at the, uh, at the stock exchange. It's everybody's not coming back yet. And I understand that look the anxiety around it and all that, that makes sense.But at the end of the day, people who were supporting their family back then they just surely did not make enough money on stimulus checks to support their family. For the next two years, there were thousands and thousands of truckers. Now I'm hearing out there willing to give $15,000 signing books.That they're bumping up the price. People are willing to pay for those workers and we're seeing it globally. We're seeing it surely domestically in all different industries yet. I, I, and I understand what you're saying. Sure. We do have a new perspective about fragility, about life, about family, but at the end of the day, everyone needs to pay to support their family.So I'm kind of baffled by, Hey, we'll definitely pay attention to that. Peter Tuckman from wall street, global trading academy just threw up the link in the chat. So if you guys want to check out a little bit more about Peter, definitely go ahead and do so, uh, you mentioned trucking stock, so they'd get a question in the chat.What kind of trucking stocks would you look at? I'll call, I'll call out to you. Maybe could call out one a S USA, K a that's USA trucking, and then Ryder, R a is one that definitely stands out to me. Is there any that stands out to you, Peter, at least that, you know, for trucking stocks, you know, I actually can't really talk to any particular stock.I just think it's fascinating that people should start to. The different industries that benefited, or they both that were able to adapt to the pandemic story and to the shelter in place. And now the reopening story, right? I think people need to be, you know, look at it from a technical point of view, because as I said, this story can change on a dime.We are seeing a nice rally yesterday in tech. We did see a nice recovery story where, you know, while retail did not participate, we did see a beautiful rise in the, in the, in the cruise lines, in, in the, and in the airline stocks. So there are certain sectors that are going to just blow up if we really start to reopen and the recovery story is healthy.And then, but there are stocks that can hold sectors that can surely change on a dime, right. Um, uh, depending on, on how this recovery story unfolds. Well, thank you for joining us, Peter Tuckman on pre-market prep and like always the story is everything. We talk about the story all the time here. So thank you for bringing that to us and price action that has always talks about it, right.Price action does not lie. Guys, please go check out technical analysis, whether you learn it from me and David Green or not wall street, global trading academy or whatever. But the bottom line is guys for this market is crowded. The market is volatile, right? And the market can change on a dime. Some of these stocks are, have these vacuums on the way up and down as we've seen in the S and P the meme names and, and the drug stocks and whatever you're looking at.So guys, look, nobody got broke, taking a profit. Don't turn a winning trade into a losing trade guys. And good luck. Thank you, Peter. All right, guys, we're almost to the nine o'clock time. We're going to get you guys to all access stocks. We got some great stocks. We're going to get into some presentation. I can't wait to see RC Modo.That's really the one that I'm going to be looking forward to look for the presentation. What are you looking forward to on your day to day, Dennis? And also I heard there's an event on the sixth. Is that true? There is an educational event where we're running over a pre-market prep.com. Um, October 16th, we're going to be talking all kinds of different and market neutral strategies.I've got Rob Friesen. Who's the president of bright trading. Obviously Joel is gonna be talking technicals. I'm going to be talking, uh, I'm going to be talking risk arbitrage. I'm gonna be talking pairs trading. I'm gonna be talking sympathy trading. I'm even going to talk social media stocks. So please join us October 16th.If you are interested, go to pre-market prep.com. You'll see the banner, uh, for the educational event. All right, guys, it's probably going to do it for Dennis. I'll let him go get on, add a here, go handle the trading day and do what he does best. Go get those pairs on, man. We'll see what happens. All right, guys, that's going to do it for us on pre-market prep, but like always guys, we always get to the information that you guys want.So stay tuned. We got all axes coming up. This is going to bring a lot of stocks to the light. I'm going to go through quickly, give you guys some of those stocks that are going to be there. Uh, you, you got of course, RC, Moto. I already talked about, you also got citrus pharmaceuticals. BioTrust city, you got wrap technologies, stay tuned, guys.20, uh, 22nd century group, Inc. Verb technology. There's going to be a lot on there that you guys can learn from and like, Get the information that you need to do to be an informed trader out there. Uh, and also like you see right here, meet the top cannabis stocks in the two day hybrid event, October 14th and 15th, right.At a New York city. I'm going to leave that video and get you right over to all access. Like always guys stay tuned. We got so much for you guys all day long. We're going to be going through it. And like always hit that, like hit that subscribe and we'll see you next time and check out New York who's in New York.I want to see you at the cannabis event.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Introduction To Professional Trading #2: Trading From RelationshipsOctober 16, 2021 from 9AM-12:30PM EST - Only $99.99 Register Here Episode Summary:Markets Continue To Be Choppy PALANTIR Shares Rise 13% in Tuesday’s After Hours SessionConstellation Brands Misses On EPS; Beats On SalesCharlie Munger Has Increased His BABA Stake By 82% Since JulyGoldman Sachs Downgrades Airlines On Rising Fuel CostsBENZINGA CANNABIS CAPITAL CONFERENCEThe premier gathering of cannabis entrepreneurs and investors in North America returns for a 2-Day Hybrid Event on October 14-15.Register hereMeet 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 TranscriptComing to you live from downtown Detroit. This has been Zingas pre-market prep with your host Joel Kahn. And this is a vowel tile property here. Isn't it. And Dennis stick, I've been the petty. I will buy the stock for a Peck with everything that you need to start your trading day.good morning. Good morning everybody. We had some, the technical snafoos today. I will explain why in a second. Welcome to pre-market prep. I'm Spencer. You can tell by my beautiful mug. There's Dennis there's Joel. Uh, first I will turn my camera on for a moment, so you can see, uh, that I I'm home right now.The problem is my, my. CUNY home computer can't really handle short with the camera. So I'm home. The reason I'm home and not at the office is because drum roll, please. I have COVID. So I've been diagnosed confirmed two times with, uh COVID-19. So for the next 10 days, actually, um, eight days, cause it's from the starting of symptoms, which for me were Monday.Um, I will be confined to my, to my house, my apartment, and I'll be stuck here. Uh, and that's the situation. So we're going to roll with the punches for the next week or so, because I'm going to be here right now. I'm working off of a laptop with two screens. Um, we're going to, we're going to do our best to Joel and Dennis and Mitch.We're all going to power through. I am feeling okay. I've you know, you've probably heard me. What are your symptoms? What are your symptoms? Well, I've got this, uh, little nagging cough, which you'll probably hear, which I've, uh, I've had to, I've had this since Monday. Um, I'm congested, which, um, you can maybe also hear though, I, I do feel noticeably better today than I was yesterday, yesterday to not feel great.Um, in hindsight, shouldn't have gone to the office and that's something that I will have to live with. Uh, but I do have never have not a fever. I have not had any breathing problems. Um, and I, and I have asthma, which is so that's concerning. Uh, but no, just the, just the cough and the congestion, some sinus pressure and a little bit of neck pain, which when I was at the urgent care yesterday, the second one, because I went to, to, uh, the second one, she said, yeah, neck pain is a common thing with.The Delta variant apparently. Um, so here, here's what she said yesterday. Uh, when w when we got there. So I, I went and I got a COVID test yesterday, Alec nude, and it came back positive. I have like three o'clock, three 30, and I was like, ah, I'm looking at another one just to be safe. So I want to get a second one.And when I went to the second place, uh, we told them, you know, it was me and Arielle, my fiance, and, uh, we were both at, to get tested and I got the Johnson, Johnson, she got the Madrona and the doctor said, oh, but , that's great. I've only seen one breakthrough case with a return, a vaccine. Well, what do you know now?She seemed to know. So, and then she said, she, she said, uh, she asked what I got Pfizer modernize. Neither. I got Johnson Johnson, and she went, Ooh, that's interesting. And I went, wait, why is that interesting? And so, but basically she just, hadn't seen a lot of Johnson, Johnson vaccines. Um, but she was like, yeah, you probably have COVID right off the bat.Uh, but anyway, so she'd only seen one, one of my during a breakthrough case. Uh, and before yesterday, now she seemed to, so that that's the story morning glory. And, uh, how's, how's there. She's fine. She has her only symptom is starting this morning. She's a little bit congested, but she had nothing yesterday, nothing the day before.Uh, we don't know where we got it and like that, but, uh, we will be staying home for the next 10 days. And, um, I can't really see the chat right now, cause I don't have this green space. So thank you. I want you to feel better. Okay. Thank you to everyone. I assume. You're all saying nice things. And again, I turned my camera on just to show you that I am alive and well, but my computer literally can't handle the camera right now.Um, so that's the story. Did you, uh, have you guys been eating out in restaurants at all? Uh, we do do. We do do that. Yes. Yeah. So it's possible. I got it from there. We saw some of her family over the weekend. Bam could have been in the office for all. I know. I, I don't know. I don't know. Can I ask you one question?You can put COVID on my birthday. Well, in your birthday, my birthday dinner, I apologize. Um, I didn't technically didn't get it on your birthday. I just gotta die on your birthday. Yep. So if you were, you know, uh, planning on going to New York next week to see me, I may or may not be there. My core, my core team does end, um, Wednesday night slash Thursday morning.Um, so TBD on whether I'll be there. But, um, that's next week, but again, again, I wish I could see that, you know what? I can bring up that I got one question coming from the chat. Yeah. Regeneron what's up Spencer. Oh. So I, I am going to get at, at Lisa's, uh, behest. I'm going to get, uh, the monoclonal antibody, uh, treatment today because I qualify for asthma because I have asthma.She does not, she has no pre-existing conditions. So I don't know if she can qualify, um, to get it. You call you already called. I know I want it. I have to call them after we have to put on my, my computer may maybe, uh, doing some weird things right now, but I'm trying to, I'm trying to pull up the chat with very limited screen space.So anyway, that's the story. That's why the show got off to a slow start. That's why my camera's not on, um, uh, there's my computer being weird again. Okay. Well, we're glad you're feeling a good Spencer. Your sound, obviously it seems like the vaccines are somewhat working for you guys because you guys, neither of you are very sick so far.Yeah, definitely. I mean, that, that was a concern of mine. The entire time is I have to be preexisting in one condition and this is a lung disease, but I have no breathing problems. I have no wheezing, none of that. So I'm feeling like pretty encouraged. Um, so yeah, that's basically the story. Um, that being said let's uh, yeah, David, don't worry.Okay. I can see the chat that David I'm going to get some equipment today. I hope from the office, so I will be better equipped. Hey Spencer, if you, uh, if you need any. You know, I mean, now I can go get it on your doorstep. I thought you were going to say call it dentist. No, no. I was going to say Kali's but she's got a busy day.Appreciate it. So let me know, let me know if you guys appreciate it. Appreciate it. Thank you. All right. Thank you everyone. Have the chat. Let's get, let's get to the markets here. Um, boil, boil boy down 42 and a quarter handles 42 91 75. I'll say the market talk for when triple D comes on here in a minute.Wow crew down 65 cents 78, 28 gold down to 20 17 58 50 silver, the red by 20 cents at 2241 Bitcoin 52 handled 52 K uh, 52, 1 10 up four 80 Ethereum golden. The other way down 3%. Um, Hmm. Well, I would keep an eye on that Bitcoin bowls. Uh, cause that's been the leader that's done 110 bucks or 34 14. I'm going to bring up the S and P chart here.And, um, we had a couple of inside days and we have a trading range and Mitch and I were on at 3 30, 3 40 yesterday. And I was just talking about, wow, all these highs in the same area and all these lows in the same area. And, uh, it looked like we were just, you know, it looked okay. And then late in the day, man, someone came in with their solid shoes on and they haven't let up.So. Dennis wrote, I guess, read dumb, you know, dot up 40 handles. You sell it down. 40 handles you buy it. I just don't know how long I think this time, I don't think we're going to get the, is back up to that 40 to 43 60 area. I think it's, this is a really interesting day because the market has been knocked down and it's come back.And this is, this could be really like the F this is the fourth try. So support is support until it's broken and we've been in a trading range, but man, oh man, what a, what a choppy start to the quarter. Okay. I mean, you look at that chart though, and it's very clear. That range was very clear and you have, it is not paid to chase any move.We're going to say it again. This we've been saying this for a month. Even months, we've been saying this for two, three months. It's been fade, trade market, the constrain market, the selling of the reps, the buying of the depths. If you're buying the reps and selling the dips, you are losing money to the people who are doing it the right way.So, I mean this last four or five days is just a perfect example of what this market has been for a long time that you know, the market with no memory, we go up 50 down 50. So we look at the last four days down, 60 handles up 60 handles down 60 candles up 50, 60 handles today down 50 handles. I mean, the trend is your friend and the trend right now is no trend.The trend is just fade everything. So, I mean, am I coming in and buying some stocks today? Probably. Am I putting anything in my long-term portfolio now? Because I'm nervous about this market overall to Joel, but as. I'm still buying depths, solid reps until further notice. Yeah. Actually we didn't even get to those lows.One thing that I was like, you know, we have just a great, great guest on, and it's always great having Ryan on because my man does his homework and he showed us that one chart, you know, where after every 5% correction where the market has been in six months. Right. And, um, it's pretty bullish. I mean, what did he showed us in that chart?And then I asked him, I'm like, well, are any of those times, is the market coming off a double and in 18 months? And he said, no. And I, that to me, I mean, just I'm looking at this monthly chart and it just looks like we got a couple more red candles, common. I mean, we just, you know, if we hold flat, it's fine.But one red. Usually begets another red candle. We haven't had that in so long. So I'm, uh, you know, I was on the edge on Monday. We went down Tuesday, we battled back now, boom, knock us down again. I mean, I don't know how many times we can hit this floor and bounced, but as we speak, we're 17 handles off the low.So let's, you know, go with what has been happening instead of constantly trying to predict. And right now with the information you have, and this information is that we're just chopping around. But I will tell you, there's not a lot of places to hide here this morning. So looking to my trusty S and P filter here, I see Biogen trading higher.I see Zynga. I don't know if it's in the S and P, but I have some of my select stocks and they're just, I shouldn't say S and P filter. I had a thousand stocks in this filter. It's all slot mid caps and mega caps, and there's literally three stocks trading higher. And I can give you the, to me right now, they were Biogen Teva and.Out of 1000 stocks, 1000 there's three that are trading higher. So, um, obviously you go, there's more stocks than that. These are just, you know, the, the may calves I'm looking at. And I shouldn't say these are bid higher because my stop, my filter is looking at bids. So there may be a tr outside trade where something traded higher.Like for instance, at WY tick tire, it's not bid higher though. So it was probably just somebody like, oops, I just bought the thing flat and probably gonna lose money. So I don't know no place to hide here today. Know, we've been talking about gold as a head and you know, and how it has not been working again, it doesn't work.You know, you get the market significant sell off. This happened three years ago, gold, drip and higher, not in this market. Gold is that kind of goes with the flow too, and just cannot seem to catch it rally. And like, we've been saying, if it doesn't want to go up in this inflationary environment, when is it going to be.So it doesn't play defense. It doesn't, you know, go up and inflation. I don't know why to own it then unless it's going to be a Johnny come lately, catch up trade here where all money managers are looking for a home, but it's been difficult, uh, to be long and bullish gold too. Cause it's just going down with the overall market as well.I don't know what to say. I, a part of me wants to go buy stocks like in the long-term portfolio, because there is some stocks that we do. Like there is some stocks that are getting fairly cheap, but it seems like every time I stick something in the longterm portfolio, three days later, I'm not happy that I did that exact opposite of 2020.It sticks something in your long-term portfolio. Three days later. You're happy that you did that. So it's tricky. I mean, what are you looking at? Joel? Are you looking at buying anything or you're just paying off here right now? No, right now, I mean a weakness we're supposed to be looking for buying opportunities.We do believe that Spencer could be correct with his analysis. That would make new highs. We're going to want to add a few stocks. I really, I, I kind of want to buy Bob. Again, I want to try, I have Bob in the longterm portfolio. I kind of want to buy it for a swing trade, but the simple reason is that it wanted to go up yesterday and now the market knocks it back down.You have the level of lean out 1 38, 43, but then I think, okay, well overnight risk is significant, always in China. You know, we, all of a sudden we don't know where Jack ma is or some bad headline comes in. It falls 10 bucks in your face, but I mean, it kind of wanted to go up yesterday. It was its first healthy candle closed, fairly strong.And then the market knocks it back down. Same thing with Nike, Nike, like you were saying, Joel got a rating yesterday, a buy rating. It was trading higher looking good. And art market knocks it back down. So those were two stocks that kind of wanted to go higher that are getting knocked back down by the overall market.And that's what I'm looking, you know, as trading opportunities. I look for what was strong yesterday and if I'm buying the dip, I want to, I that's, the strength usually goes back into those stocks. Another one is general motors, very strong yesterday, strong after hours yesterday. Um, they do have their investors day coming up.I think it's, I think it's this week. If it's not do you know Spencer in the background while it's a multi-day event? I think tomorrow's the big day tomorrow. So we have an event or. But again, if the archeologist, you know, continues to puke you this morning, obviously that's going to work. So a lot of times what I do and I'll talk about this on October 16th is if I think there's an event where a stock, you know, might run up into it.What I do is I buy the stock and the short, you know, the equivalent of beta hedge spy against it, because then, you know, I'm protecting myself in the event that the market continues to sell off to a certain extent. So that's how I trade market neutral. So trying to extract the clean alpha from the event run-up and if you did that overnight on general motors, you were actually making money because GM's only down 0.2, 4%.And the spies down 1.1%, they were also talking up on fast money last night, which helped. So there is some stocks that I'm interested in. Um, but again, you know, you're in a market environment that there's a hell of a lot of uncertainty and a lot of risks. So keep that in mind. They're blaming. Yeah. I mean, it's still the inflation story again and, uh, And they're right.I mean, it is, everything's the inflate. Everything is the inflation problem, really, to a certain extent. I mean, yeah, we have a COVID we have a pandemic, we have a lot of other issues happening, but there's a serious inflation problem. And it is getting talked about on CNBC 25 times a day. So there is no doubt that everybody, you know, has been notified that, Hey, we've got some inflation going on and you're seeing it, you know, hostess going up on their bags of chips.I mean, there is inflation everywhere. The natural inflation defense has commodities. So commodities have performed fairly well besides gold, but you've seen oil strong. You seen, you know, and I was buying some steel stocks. That's something else that would be buying on the pullback today. I mean, Cleveland cliffs is catching an upgrade from Goldman Sachs this morning.I own Cleveland cliffs. It's in the long-term portfolio. Put it back in there at 19 and a half. Lots of lows down there you get in the low twenties. I don't mind it here. If we're going into this big bear sell off, everything's going to be. I'm not a full believer. I don't have that information yet, so I still want to own some stock.So yes, I am still looking at commodities, buying those docs on pullbacks, not oil because I hate oil. Um, I think it also just, I mean, it's, it's look where we're at in, in relay. I'm going to go to the cash index here. I mean, for the most part, I mean, we're, we're at all time highs. I mean, what we're, you know, now like 250 handles off it, but still, I mean, if you've been investing, forget about this run up here, but for all these years, I mean, you know, he can't, I know he can't take profits long-term portfolio.No, Joel, tell me where I turned around and I sell all my stocks. What am I investing in the real estate market, which I do invest in real estate is a bigger bubble than the stock market. In most places, it's not. You know, the houses around me are in Ontario. So where I live, housing prices apparently went up 32% year over year and they went up 32% by now.If I go to cash, I lose to inflation. If I go into bonds, a picking up like, okay, I can go into preferred stocks and get 6%, you know, in a couple of preferred stocks, which I do own. But then again, you know, and bridge was, she was featured last night on mad money. I own that too. You've got a 6% dividend, pretty nice utility stock.I don't mind that. But at the same time, you're not doing very much better than inflation right now. Cause we're running five, 6%. So, you know, yes, they can say we're running 2%, but that's BS. We're actually probably running significantly hotter than that. So I mean the only place where, you know, you think you're going to be probably keeping up at least is to own physical assets.You know, that's why I was saying commodities maybe, but it's very difficult to come in here and just sell all your stocks and move to cash in an inflationary environment. Clean chess jumped again, here. We're up at Gino. Well, there you go. That's an inflation trade too, though. So Bitcoin is an inflation hedge.You know, we don't know if Bitcoin, you know, fundamentals, values, you know, and intrinsic value. There really isn't much there it's, it's got value because everybody else deems it has value, but I own a little bit of Bitcoin, a little bit more theorem because the utility, but those are inflation hedges as well that at least people are playing them as inflation hedges.Are they going to work in the long run? It depends. You know, if this Bitcoin thing continues to catch up, but you know, I went into, into, uh, the local Canadian tire. People can make fun of me there. Uh, I was getting my brakes, uh, uh, getting my brakes changed. And in the background, there's two people, you know, at the Canadian tire workers and they were talking about.I mean, the one guy is like saying, oh yeah, I bought some Bitcoin. I mean, so th th you can interpret that in two ways is, you know, main street, you know, the late to the party, and they're just buying Bitcoin now. And this is the top, or is it starting to catch on that other people are coming in and Bitcoin starting to go mainstream, where everybody's starting to hear about Bitcoin and is interested, you know, and maybe if they're interested, they're going to start buying as well.So it used to be just pockets of, you know, that people, you would go out if you went two years ago and went on the street and asked a random person about Bitcoin, they wouldn't know anything about it. And they've even heard of it. That's not the case anymore. So Bitcoin has been heard of by most people. I think if you go to a random person on the street, I think 90% of people are going to at least heard of Bitcoin.I bet. And I'm being conservative. I think when I say 90%. So, you know, there's a number of ways to interpret that, but we talked about Bitcoin two and a half years ago on this show, and we kind of, you know, and we had James angel on the show and we thought it might just fizzle out eventually, which it kind of.But you know what? It came back. Didn't go away. It didn't go away. Didn't go away. And it's been too long now for, in my opinion, to just think it's going to fizzle out. So does it end in a fiery crash? It might, but that's why I'm just putting speculative capital on it. But you know, what, if people believe in this and you know, we're getting other countries adopting it now, I mean, there's a, there's a bull case there.And you know, I'm somewhat of a believer. I hated Bitcoin forever. We know on this show, I turned around and got bullish at 10,000 and that's when I turned around, I didn't buy it. Then I should have bought it. Then I ended up buying it at 17,000. So I don't know I'm sticking with it. I isn't inflation to help that too.So commodities crypto helps to a certain extent, but they are risk assets and all these things are risk assets. And if you were thinking an impending crash is coming, you don't want to own anything except cash. I don't know if the crash is coming, which is why I stay invested. I don't think there's a crash.How'd you say there'd be a, you know, there doesn't always have to be crashes there. You know, there just could be, you know, orderly sell offs. And I think that's more likely for the, at least for the remainder of the year. I think also looming, you know, you say don't fight the fed don't fight the fed. Well, you know, the fat raise may be going up.So if you're going to go with that, then, you know, maybe it's time. I, but like you said, Dennis, you know, where do you go? Where do you hide? There's nowhere to hide. Uh, you, you've got to go into risk assets, cause we're going into commodities. You're going into crypto. Those are risk assets. You're not going to make any money going into, you know, and if you think bonds are safe, if you think that TLT is safe, I'm going to say it here again.I believe then I said this on the show at 1 51, I believe that TLT is going to eventually be under that low of the year, 1 33. I would not be surprised that the TLT. Is loses, you know, 20, 25% from here, I think. And if you're looking at that, then you want to be, if you think the TLT is going to get weakened that much, you want to be long banks.You know, banks are not expensive. They've run, they've been hiding. I mean, if we look at anything that is performing in this market, it happened at banks, JP Morgan made new all time highs. Two days ago, the banks have been performing. So if you go back to your basic economics courses here, it is working. Um, you know, where interest rates impact, you know, the high banks want higher rates.There is no doubt that they want higher rates and you know what? I think they're going to get them because you know, the market, the fed can control low and the fed isn't coming and raising rates, we're not saying rates are going to four or five, six, 7%, but the third ticking higher and they are taking higher and you're seeing it in the bonds.So I don't want to own anybody. Uh, I don't want to any treasuries at one and a half percent. I mean, I'm losing guaranteed to inflation. I think I'm going to lose on my capital as well. Cause I think those bond prices are going lower. Hey, here's some perspective for you? Uh, this day, I think it was in 1978, Paul Volcker raised interest rates to 12%.So there, uh, also what year was that? To 12% or 12% from where they were, I think no, up to 12% out of here. The 78 on 78. Yeah. Yeah. And then. Yeah. Uh, and then the next guy I want to say is I'm with Paul 80 or the chat. I'm not convinced the queen is a great hedge, but anyway, let's, we are not, and we are not calling Bitcoin a hedge.We are saying it helps with inflation. It is a risk asset. So don't think because the market crashes, the stock market crashes, that you're safe in Bitcoin. If the stock market crashes, Bitcoin will crash to there, this, this correlation we have, we've told you on the show for the last couple of years, Bitcoin is correlated with his overall market.At least in the last year you're seeing when the market's UPIC usually pick lines up, but yes, you get days like today where Bitcoin's up and the market's down. But overall, if you put those two charts on top of each other, you can see there's a clear correlation, at least right now because Bitcoin and crypto is risk assets and they're all being grouped.You know, money is moving in. Money's moving. But I mean, on a day like this, you know, it's interesting that crypto is higher because like I said, I was struggling to find a stock that is higher. So crypto higher today is that good news for the market? Joel, does that mean this market bounces back once again?I mean, we have come significantly off the lows already. We're up 20 handles since I woke up this morning, again, the buy the dipper say, well, I see the pattern that's here we go up 60, down 60 I'm 60 down, 60, up 60 down 60 I'm buying when we're down 60, you know, what, if you were buying when we're down 60 or only down 30, you just made 25 points.So it's. Yeah, it's, uh, I mean, there's, the cash was, is, is it really, you know, maybe we'll get this. I mean, let's see, we've had, uh, we're working on her fourth inside day in a row. Wow. I mean that I'm using the global X ranges folks. So when I use it a low back range, that's what you got. So maybe we'll just calm down me will just be the battle of 4,300 here.And, uh, you know, I'd rather, I want the rages to calm down. That was one thing I said on Monday. The one thing that concerned me was the big ranges and that's what we had in March and April. We had 200, 250 point ranges and then the count down it calmed down, it came down and then, you know, just a couple months ago when we were going, you know, it was like the stair-step, the range is probably got down to 30, 35 and now they're back over 70.So let's say. How down and let's have the market calm down, hold these. I mean, it's a quad low right now to me. I don't care if you want, you know, if they're not the exact number, I think this blood in this kind of market, you know, 10 handles is kind of like a, just a blink. So let's hold, I'd feel a heck of a lot better if we could break out of that top of that blue line that I had there.And if we, if we take out the bottom, I think we have a quit date with the quarterly low and that's 42 14. So there's a setup. Let's just have the market calm down. But there, there is one stock that stopped today and every time they get a contract Palentier trading up sharply higher Spencer, why don't you give us what it was, where it was last night, where it was last.Yes, it is. So this is honestly, it's more of the same. It's, it's always with them a new contract and that's been the whole yesterday. They announced it in $123 million contract with, um, uh, for intelligence data, uh, w with, with the, with the us military, uh, It's always a contract headline with them. I feel like, yeah, it is.And you know what? The story continues here. As traders, we just have to recognize patterns. The pattern has been to sell the reps every time there's a 20 15, 10, 15% rip and pound here. It's been a selling opportunity and we were ripping up and we, and obviously can blame the market to a certain extent here.But we at 26 and a half last night, we have already given back half of the gain. Now, are we going back flat? I highly doubt it. Is this a stock code by, on the pullback for the day trade at 24, you probably get the old resistance becomes new support for the last two days Trek. So, you know, as a day trade, maybe.Um, but it's tough when you're buying stocks last night, like people come and go the old Pelletier it's up 15%. It's going up 30%. It's not, this is not the way this market is working. This market is working when it goes up to 15%, it eventually comes back down. We've been talking about this trend. So if you're buying it last night, up 15%, you're definitely not listening to pre-market prep because we're not buying the reps.We're selling the reps. Now, is this a rip here this morning was up seven. No, it's already given half of it back. So it's not ripped as much now. So, you know, maybe get down, like I said, the lower 24 is maybe there actually is a buying opportunity as it go back. You know, if we get a rebound, the market, get back up to 26 day.It could, but again, just follow the patterns and if you're chasing stock price here, you are doing it backwards. It's been working that way for months. Wow. Two bucks off the high. I mean, someone just caught the news and they just started Bennett Bennett. They did it, they took it to the, uh, ad that this is where the, uh, after our session right up at the top.And then someone just came in at 4:00 AM and said, well, Hey, you know, looked at it on a market perspective. And if you took this thing home and it closed on the low of the session, you get a look at 26 and they just started whacking it. So the top of yesterday's range, I don't think, I don't know if we're going to get that low today.That that comes in just under 24. I don't peer you have some risks, but you never know. You could use get a quick seller off the open and they push it down. But that 24, 23 88 was a high of the yesterday and then 24, the other day. So old resistance, new support. If it gets done. Let's go to the one we do CEI.Oh, I didn't know if you want to talk about this or not. I guess it's a good story. I mean, it's a great lesson. It's a great lesson. It's a great lesson. Yeah. So CGI, uh, uh, basically yesterday there was a short report out. Was it, was it screwed? Was it spruce point? I don't remember exactly who the, uh, regardless if you've been following the stock, you've been following it on social media.It's been a darling of, uh, excuse me, Zack, Zack Morris. Who's been pumping this one for awhile. Um, and it's a great lesson in knowing why you own something. Right. And if the only reason you own something it's because somebody else said, so then that's not a great reason. And also know when to take profits.Cause this thing went. $5. I mean, we see these stocks get hot on social media, discord, Reddit, Twitter, and you know, and we see it coming to our chat and people can't stop talking about like, I, you know, when you go take your time, the hot stock of the day is literally the one that everybody wants to talk about the most.But these smaller companies that are getting pumped are getting talked about a lot on Twitter, you know, and a lot on Reddit or discord or whatever the social media platform is. A lot of times are just, you know, getting talked up and obviously they pulled the rug out from under this thing yesterday, spruce point dead.And it got hammered. You had all the short term traders that were, you know, flying in this. So, you know, you can trade anything and he can come this stuff. Some of these are good little momentum trades. You get on them early, you know, they can continue to go, but you know, you just gotta be careful and Spencer's making a great point, you know, just blindly buying somebody because somebody on social media told you to do it is, you know, you got to do your own homework.You gotta do your own deal at due diligence. I mean, a lot of these stocks and we've looked at these Reddit stocks before, and we've looked at a lot of these ones from discord before where it seems like they get the big pop that. Like AHT was another one to this thing and obviously did the reverse split.But this thing, you know, went from, you know, I think it did the one for 10 reverse split. So it's hard to tell on the charts, but it was like 18 all the way up to 70 is $14. It seems like eventually they go back to where they came from. So you've just gotta be careful, blindly chasing these things. You don't want to get whole, I mean, was another one that everybody was talking about $2 to $12.Great move. I mean, there was some big money made in there, but you know what, at the end of the day, that's big money being lost now. And it seems like when the dust settles on a lot of these stocks that a lot of these companies, especially the ones that they're, oh, it's a high, short interest. You got to buy it.The reason a lot of these smaller companies have high, short interest is because they're not very good companies that they're not doing stuff exactly. You know? And there are a lot of, these are actually companies that are on the verge of. So when you're jumping in, because something just has a high, short interest and you think it's the next AMC or GME?A lot of times they don't work out that way. I mean, bed bath and beyond same thing, everybody jumping back in high, short interest doc, you know, and they were moving and there was trades in there, you know, 30 to 53 it's back down to $14 and 68 cents here now. So all I'm saying is don't get caught holding the bag.If you want to play the momentum, play the momentum. But when the trend breaks, when you start to see the stocks there to leak and make new lows, it is absolutely time to go. We've talked about that wish stock. It goes down every day, almost new, all time low again for wish this morning. So these are stocks.Everybody was saying, oh, it's going to $69. I saw it on my, I see it in my Twitter stream. I don't even follow any of these, but it's just in there because there's so many people talking about. Eventually the talk cools and a lot of these stocks are, you know, just, you know, they're, they're, they're, they're being talked up and eventually when the talk and slows down a little bit, and the buzz starts to fade, there's not any new buyers to come in.And then the stock prices start to go down. And this one, uh, you know, I had not been looking at it, but, you know, you had the run-up you had just a great 1, 2, 3, 4, 5 day run kind of closed, you know, on the big day. I also look at that, like, it got the 4 85, but where did it close that day? It closed at 3 42.So that was a buck 50 off the high. Then you had an inside day in a red candle. I mean, you know, the green candles are fine, but that should be the first warning sign. And then we can see what happened after that. Of course the short report. Got it. But, uh, that's enough. That's enough unseen the express point.You can hate them for this. And is it, you know, the question is, is it manipulate. To come out with a short report when you're short and you know, you're coming out with these short reports. I mean, all of this is just gray in my opinion. And some of it not even gray, you know, like I don't like the fact. And I think that the sec does need to crack down on some of this stuff that somebody can load up a position either long or short and then completely talk their buck again and again and again, in social media and then dump into it or in case they know if it's, I don't know if Bruce point was covering yesterday.I'm not sure you know, what the situation is, but they're definitely influential. And you know, they come out with a short report and they are short the stock, they say they're short the stock and the stock falls 50, 60. Are they covering into their own report? I mean, they're the catalyst. And then they're using that catalyst to get out.Is that the definition of manipulation? Um, I think some people would say, I think some people would say it is I'm going to not, I'm not a regulator, it's not my place, but I think regulators are going to look at this type of stuff. I think they're going to look at social media platforms and these social media influencers.And I think if they are looking at social media influencers, they need to look at stuff like spruce point as well, and make sure that, Hey, this is legitimate research and I'm spruce point. I'm not saying anything. I'm just using them as an example here. But I think, you know, like if you're coming out and you're covering into your own catalyst, I would have a problem with that.If I was a regulator, I think the regulators should have a problem with that. If they're putting on a short and they're holding. And I think that Tron usually would help hold their shorts for a long time, if they're coming out and their voice and their permanent freedom of speech and they're holding it for months and they think it's a zero, that's a completely different story.But if you're coming out with an open. And you're put out the short report and then you cover it that day in that catalyst. That's where I would have a problem. So I don't know, spruce point covered yesterday. Hopefully they didn't, but I wouldn't have a problem if that's what they were doing. Yeah. It's a good lesson.It's a great lesson. Right? And in owning this stuff, the lesson is a lot of this stuff. Like you can't just buy a stock and throw it in your long-term portfolio because it has high short interest because you know what, when you go back and they look at all these high short interest stocks, and we could do that as an exercise, all of these assaults have come down a long ways.A lot of these shorts ended up being right. Yeah. That's not really what they, this wasn't a short interesting, but it was a social media thing. And, and yeah. What did they say? Did you actually, I didn't even look, go through this Bruce point report. Did they, did they talk about how it's been talked about on social media?Even for them seemed especially giddy about this one. They called it their best opportunities in since. What was her price target? Uh, probably zero. Yeah. So, yeah. And, and you know, what, if they're going to try to hold to zero, you know, and they're doing that, you know, that's them, I don't, like I said, I don't think like, what's your opinion.I think if you want to come out and give your opinion and you want to be sure to stock, I think there should be some rules that you can't cover that day or the next day. I think you should have like a, almost like a, you know, a lockup period on yourself because when you're that influential, you shouldn't be allowed to just, you know, take it from, by using your influence.So what I would say is, and I'm not sure, like I said, I don't even know spruce point has talked that they've covered, you know, we don't know that. I'm just saying if they have, I don't think that should be.Yeah. All right. Uh, that's just my opinion. A lot of people are gonna get pissed off it's uh, everyone's soul is always gonna be pissed off. A lot of people are underwater in this one. And I'm sorry if that's you. Um, and I felt that that's what I feel bad about coming in on these hot social media stocks and chasing them up.And you know, maybe they're doing this on the side and they're like, oh, everybody's talking about this stock. And it's going to go up a lot higher. Everybody's talking about it. When everybody is talking about the stock, it's usually more indicative of a top than a buying opportunity. So like when my, I used to go and my barber, you know, you'd go get your hair cut.And your barber is talking about this hot stock tip. Those usually are contrarian indicators. If you're hearing your boat, your hot stock from your Berber as a lot of times, and you see the chart of the thing and it's straight up like that, a lot of times, that's not the last person to have box. The other thing, the thing is like w whether or not you agree with the reasoning behind that, I think it was Kerrisdale sorry.Sorry. We said spruce. It was Kerrisdale yesterday. I apologize. Uh, and the other thing is whether you agree or not with the long thesis or the short thesis is almost irrelevant. Um, all that really matters is the price and your tolerance for risk, right? It's how much pain can you take? If you can take all this pain then great.If you can't, then you that's on you to know that, right? W we've got a great question coming from the chat too, from Lori Jones, she says, Dennis, how is this different from GS and JP Morgan? When they upgrade and downgrade stocks, analysts, move price. Michael Pachter from Wedbush is not allowed to own the stocks that he covers not allowed what Bush does not allow that.So he cannot profit from his own opinion. That's the difference. So he can come out with an opinion and he will move price, but he cannot profit from that opinion. And most of the analysts are the same way that the analysts are not allowed to own the stocks that they're covering that they're talking about.So I think that's, you know, the, the, the big difference is that there, it's not like, you know, all of a sudden GS upgrades, a stock, and now we're all going to sell this. I mean, you know, and you know, I'm the analyst. Yeah. Yeah. There's mixed results. I know is I think what they're alluding to data's more is not so much the individual analyst.Right. But maybe clients of the firm, you know, that's but a lot of, a lot of these, a lot of these big funds, I mean, they filed these analysts and they make moves, you know, based on their recommendations for some of their own, their own research. So you just have to, I mean, as far as that, I mean, what, whether that goes on or not, you just have to interpret the price action and you can see what happens like in a great example, like Nike.I mean that, you know, it needed a catalyst, right? It put three or four loads in the same area. Right. You had an upmarket and it just, it just got tedious little bit of catalyst. Right. And it had a really good day. It's one of the best days it had since pre earnings. So, you know, don't worry about who's doing this and who's doing that and worry about.Yeah, what you're doing, figure it out. Like if you, you know, if you've been, if you recognized four or five lows in the same area, you know, you're leaning on the low, the move and all of a sudden, out of nowhere, when Bush comes out and use it to your advantage. And that, that had a nice move yesterday. It almost filled the gap from where it opened.It got up to 1 51. I mean, there was no, I had add, there was no level or anything for, for me or whoever added to salad at 1 51. But you do see these kind of things to your advantage instead of, instead of complaining a bottle. But, uh, now Nike, you know, down a buck, 31, if you're the ISO, you're looking at it, they got pumped on yo yesterday.Hey, if you really want to own Nike here, you went had a seven point move, right? Boom. You know, uh, not quite six point move. This is coming right back 1 47 and a half, 1 48. While you missed it, but now the market's giving you an opportunity. So just a quick, just wanting to use Nike as an example where you know, these you'll use them to your advantage instead of you don't complain about it.All right. Let's move on. Let's talk a constellation brands for a second here. STS that in a long time. No, we have not. You're right. Anyway, there are EPS out this morning. They missed a little bit, $2 38 cents $42 77 cents. Estimate sales that beat though three, 2.37 versus $2.3 billion. So mix, report, and beat on the top line and miss on the bottom.Um, what is the, uh, I'm just curious. What's um, the one that just got whacked and kept getting a whack Samuel Adams. Yeah. Though Sam and it has not even come back, has not come back. Even. It is right at the Lowe's Joe, this has been a story. And we've talked about the craft breweries, eaten the major's lunch just to a certain extent, but this is also squeeze on a lot of things.And again, you know, has Sam come down enough that, you know, they eventually starts to make sense, maybe, um, you know, I like tap maybe better. Uh, but you know, you look at constellation brands. I mean, Jack Daniels, isn't going away. So, you know, this is a stock that's held up fairly well. Are some of these margins going to get squeezed?Um, you know, as they're inflationary, did they talk any inflationary concerns? I'm not sure. You know, if there, if there is those issues there, constellation brands, I guess nobody's, anybody's read the read. This has been in a training range for a long time. I'm just going to go to the monthly's here and it's, it's near the bottom of the trading range.Uh, not quite at the bottom. So you don't look at it that way. What was the low, the low from, uh, going back? Uh, 2 0 7 35 you're five, six points away from that. Uh, the current load for the month is 10 59. So it's been an, a trading range. It's just, let's see how long it hangs out the bottom of the trading range.If I was looking at this from like a day trading perspective, like even if you want to buy it on strength, got three highs of the two 16 area. It takes that out and holds to 16. I think he had some room on the upside and you're opening in. Yeah, you're open into a couple lows at 10, 10. Well, not quite yet.10 46, 10 and a half lot, a lot of lows of the two 10 handle. No guests today. Just say we're a little bit late for our guests. I was just looking at the time, time flies with guests, I guess, as Spencer. Yes, exactly. You're right. Joel. Exactly right. Um, Hey, what else was on the list here? There was a couple of times Bob.Bob was the next thing I see on that night. I saw this headline Charlie Munger, um, I guess through, through a, from, and he controls a daily journal, w which, which take the ticker. There was DJ CEO through that firm. They've increased their Alibaba stake by 82%. Since July they've bought 130, 6,000, almost 147,000.I'm sorry. No, no longer. Did I say icon? I'm sorry, Munger. Um, Isabel, you guy,have you think Alli Baba. Is not going to continue to be impacted by the cut China communist party. Then you know, that stock is dirt cheap. I don't know. I haven't have that unknown, which is why I don't add to the position. I still have the small positionality Baba. I kind of want to try it. I said this earlier on the show, I kind of want to try it for a long here, leaning on the low of the move again.Whenever I entered a trade, first thing I look at is where am I getting out if I'm wrong? So three bucks on the low of the move is 1 38 43. So if I think the lower the move could be in which it had a nice day yesterday wanting to rally, um, it was a good tape yesterday. It's selling off in a bad tape here today.So kind of going with the overall market. I kind of liked the trade. I liked the setup again. You know, if the stock takes out that low, though, I got to get out. This would be the trade portion of it, not the long-term investment. So if I was trying to free-trade here buying at 1 41 64 here right now, which is the offer.I'd stop myself out under 1 38. Lotta red. I love to see, I mean, let's get it. Let's get a green, monthly candle in here too. It's so oversold at kind of wanted to go green yesterday and then the market started rolling. It was having a really good day actually. And the market started rolling over late afternoon and it just kind of hung out, but it held onto those gains.Not bad. I mean, I don't know. It's so oversold. It makes me wonder. But I that's the contrary to me. Right. I'm probably wrong. Wow. Uh, if you're looking for it, if you're doing a short-term trade on this one, you know, you got caught up yesterday that 38 43, uh, you're open. That's going to hold. Wow. This, this, wow.This is just, oh, let's go to the daily here. What was yesterday? Sign 43, 83, if you want to target on the upside. Uh, but we're holding last month low, so that's good, baby, baby. Get a green candle in order to get a green candle October. I know we're early. Uh, we got to close quite a bit higher than this. Uh, that would be 1 48 is where behind bad month.That's a bad month. Yeah, close last month at 1 48 0 5. Let's get a green candle on a Bible where we get too excited, the Boxster and speaking of, uh, analyst ratings and upgrades and downgrades. I thought the Goldman downgrades to a couple of airlines this morning was interesting and they downgraded a jet blue.And Southwest, I believe were the two that I saw. I'm not saying it was not more, uh, but those are the two that I saw. Oh no, it was American American and jeopardy American guy downgrade to sell jet blue downgraded to neutral. I mean, they're selling a little bit of the rallies. They've had, they have rallied a little bit from the lows are up 15% here.I am an American airlines cases is up almost 20% here in the last three weeks. So they're using that and they're looking at the 22 resistance and saying that COVID, isn't going away anytime soon. Um, you know, and I, I actually, I should, I shouldn't say what they're saying, cause I didn't read the note, but, um, that's what I'm thinking on.And it's like, well, I, I still don't kind of want to own airlines for some reason. I don't believe that business travelers coming back and you know, you do have a reopening trade that is going to happen here though. So I don't wanna be short the airlines either. I think I'm more neutral. Uh, it's given along the lows of the pre-market.Uh, we did get down to 20, 20, 55, a man got a little gap to fill here 2030s, where where's the gap that I'm looking at. Uh, the top of that range, uh, filling that gap, the jacket, it was a really teeny one, a boy in the, kind of in the middle of nowhere. Uh, but you had that nice move from 18 and a half to 22, maybe come back into this $20 area.But if it watch out, you know, on days like this, because if. Like you say, oh, Goldman's going to be out there buying today. Or their clients are going to be buying. You'll find out off the open, you know, you get that, that opening print and then you'll turn off that perhaps in law. But really, I I've just been real, real neutral on the airlines.This stock is in the middle of nowhere. How's the jet CTF looking at J E T S judge, judge jets. Uh, yeah, quite a bit. We've had a little reopening trade here. It's actually been performing fairly. That looks better than American airlines. Yeah, yeah. Yeah. Well, some stocks like L UV have really come up. So I don't know.I'm torn on them. They've had a pretty good run though. It's not like you're buying at the bottom here, but I guess like in the relative strength, like yet next thicker time, whatever we figured, take your time and tinkers in the chat for us. Uh, Noah says, look at Marriott, M a R. That's what's crazy. Run almost at all time highs.Yeah, I don't get it. I don't get it. I don't get it. I mean guys, watch money, Mitch. Well, okay. Tell me why Marriott's at all time highs it's because it just started changing. Look at Hilton, look at Hilton. It led, why are all these bells at all times? We want to know why is it? So what happened here was an adjustment period between what was really going to happen from the reopening trade, right?There was a big lift in the summer, so they're expecting to get good earnings. A lot of people are expecting to see good earnings come out of these. And the next thing is at this point, you're seeing even Airbnb do well V a C do well. Um, which are there longer terms there they're Airbnb. And I think at this point, hotels have already gotten back to normal.At least hotels, airlines are going to still struggle. Completely hotels have adjusted and there they've been doing well. I mean, I, I, the opening trade for hotels, but what I've, you know, been concerned about is the Airbnb. I mean, we had, you know, a lot of these hotels and if you go back, maybe this isn't the best example, but if you do go back to 20, wow, we've got to go way back.I guess they were on their highs really before the COVID things started. I don't know. I just, I don't want to try at all time highs. I'm I'm I'm sorry. I'm just. Uh, I was supposed to go to the hotel this weekend. That's like, I went to some hotels hotels at this point in time. I think, you know, they they've, they've gotten better with obviously dealing with COVID and we do have a reopening trade there, but I just think like, you know, a lot of the reopening stocks are still significantly off their all time highs.And why are the hotels just forgiven? I think what did they did during the, just the COVID? They probably just caught a lot of expenses is what I'm thinking. And, you know, so if you cut your expenses, I know when we stayed in a hotel in Philly, uh, the, you know, the hotel was fairly busy, but, uh, they, they didn't have a daily, you know, real maid service coming in.So perhaps, you know, if you're, if you cut your C expenses significantly, then you don't have to make as much money. Marriott's traded down a couple of bucks today. I know someone asked about it in the chat. Uh, traded while the old time high, you really want to see a bust above 1 59 98. That's the old time high.That was back in February. Uh, but I would just keep an eye on the closes up here. I know it's down to box. She had to close, closed off the low you took out yesterday's low. And I just see this kid sign. I see three closes in a 1 55 handles. So let's take the clothes from yesterday. Get back above 1 50, 1 55 44, that kind of splits two lows.I feel better if it made it close over 1 56 and then beta challenge, the higher the move. I think the longer end hangs out here. Maybe you get some profit taking, but you can't argue with that chart. I mean, hotel and you like buying stocks at all time highs as trades. I just, because I like Airbnb, we know I've liked Airbnb for a while.I think you're being, being on a pullback. Look at w H wind him hotels. They're all. I, oh, wait. I was supposed to go to a Wyndham this weekend. True story. Cedar point. I've never been to Cedar point and we booked a trip to go with this weekend and that's not, it's fun if you like rollercoasters. I get nauseous, but I wouldn't know.I wouldn't know. Fun symbol ever come back to, but not all time highs. No, exactly. No, I know. I mean all time high, I'm funny as $72. It's 45. So I, I just don't know why the hotels are at all time. I get the re reopening trade. I just think it's like, if you're coming in there and saying, wow, this is a great reopening trade going to happen.I'm going to buy hotels. It's already happened. That trades happened. It's been a great, it was a great, and it's held on a lot better. Maybe they continue to go higher. Maybe we're all just going to do. You know, but I have succinct there's competition coming there too. And I liked Airbnb. I'd rather on Airbnb than a hotel valuations kind of nuts.That was the best thing for them. The Hertz bankruptcy does not stop. I've watched it with budget and I scratch my head all the time. Props to Steve Graso on fast money. Who's been calling this for the last year. Steve Ellison. Wow. What a call man? I mean, he was talking about this at $30, 126. So I don't know if he's still on it, but holy mackerel, anybody saw this big day yesterday, he just goes up.Wow. Maybe eventually these, you know, this is like buying nosebleed, rocket ships. Like I can't chase them here, but Italia, if you're in there just trail your stops off. That's an a, it's a hell of a hell of an opportunity. Yeah. It is a close right near its high yesterday 2 28, 78. So I don't even know if there's a seller big update yesterday.I mean, the market was good, but that blew it away on a percentage basis. So it's the only number you got 1 28 87 and how's what's herd stock now. H T Z K Y or something like that. It hurts. Went bankrupt and not including us. We all thought, okay, well car is, you know, gonna have some trouble here too. That HTC GQ HTZ GQ symbols.Once they're over four symbols, I don't look at them ever. I bet you. Uh, you said Henry, Tom zebra. Next you're looking for Hertz. Yeah. H T Z. Oh, there's more than one. Oh, there's more than one. Okay. I'm sorry. You're right. That's correct. You HTZ okay. Gotcha. I think this is a perfect example of what Dennis just mentioned.When you have a major competitor that all of a sudden just gets wiped out. That's going to have superly effect a company that was competing hand-in-hand and now gets a major lift because it's the, it's the leader. It's like, let's say if Android disappeared, what do you think happened and disappear though?Hertz stocked out, wiped out and it's over, but they're still operating. Yeah. There's still a switch a lot. I don't totally understand why that would be that I totally agree with. You mentioned the case where you get a company that just gone and ceases to exist, but Hertz is still off. So I don't, I think the car started as a massive short squeeze.And to be honest with you, I don't even know if it ever ended. I mean, anybody who was like, okay, well it's 40, it's not going to 50. And that's 128. I mean, this might, you know, I don't know what the shortage is. Let's go look at the short interest in car. I have. This is the first time I've been looking at it, but I'm going to hop here.It's nine o'clock time. Pfizer, you have a fun stature. You get to do the, uh, at the clothes show. You get to see how. Um, we, yeah, I should be good. Joel. I should be better. I'm going to have, we missed a lot of symbols here. I'm going to hop over to . I have 25, 20%. So there has been a significant short squeeze here.First has gotten dilated on this. Yep. All right. Uh, yeah, it's not a clock. We made it through the day with me being very technologically limited. So thanks to Mitch. Thanks Dennis. Joel for carrying us. I mean, not that they don't care is most days, thanks to all of you in our chat. Um, yeah, the plan is I'll still be to here in the mornings and in the afternoons doing stuff, uh, just got to get some more tech, uh, that's my biggest issue right now, but, uh, yeah.Thanks for bearing with us this morning, everyone. We appreciate it. I appreciate it. And, uh, Dennis is gone, so it's just me. Now. I'm going to hop off the stream here and wives trading. We'll start in about. Five 10 minutes somewhere in that window. Uh, I will not be on, uh, but it will be Mitch. It'd be Ryan or BZ nade, and there'll be wrong with you guys.Um, and that's the plan. So Mitch, I will see you, I'll be watching you, but I won't be seeing you on the stream. So welcome before you go. Yeah, I heard there could be an event that I can learn some cannabis. Oh, you must be referring to that graphic of the bottom of the screen then. Yes, it's been up there the entire time.I should probably mention that the cannabis capital conference, which I, uh, may or may not be at now, uh, is next week. It's next Thursday and Friday BZ cannabis.com. We talk, we've got executives from like 1520 of the top publicly traded cannabis companies, uh, truly, uh, Cresco to name a couple, go to BZ cannabis.com to learn more.But, uh, this is one of our, this is our, I mean, One of our better events, because we've been doing cannabis events now for like five years, four or five years. And, uh, they're, they're always really good. So if you're interested in the space at all, can I recommend it or not? It'll be a hybrid event in person virtual.So there's that? I think it's very important right now, especially to learn about your cannabis companies before we get deregulation in the federal level. Of course, this is what I'm looking forward towards in 2022. We don't know if this is going to happen. Also banking being talked right now. Um, so it's a very important time in the end of.I would definitely say check it out. And you guys know that I am long and strong. I have been long, truly Cresco, Cura, leaf, and green thumb on now for, for awhile for a little while. Uh, so this is the space I am personally interested in, uh, so very, very excited for next week. Uh, and I hope I can make it, uh, what no more than a couple of days.But, uh, anyway, that'd be a wrap guys. Uh, jot me a like, can I get some sympathy? Likes, can we get some sympathy likes come on. Well, I feel like, I think I at least at least deserve that. Uh, all right. I'm going to have the stream here and a live trading. We'll start a few, everyone have a great day. Good luck at the open.Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Introduction To Professional Trading #2: Trading From RelationshipsOctober 16, 2021 from 9AM-12:30PM EST - Only $99.99 Register Here  Episode Summary:Stock Market VolatilityFacebook's 6-hour outage FBPepsi earnings PEPSteve Jobs Died 10 years ago todayWhat's Happening with Casino Stocks? Benzinga Pro Exclusives - Join Benzinga Pro Here!Crypto Update- BTC Above USD 50kSHIBA INU SpikeAAPL, AMZN, PEP,SPWR, BABA, WYNN, LVS, ANVS, GROM, RSI, KRE, BTCGuests:Ryan Detrick - Chief Market Strategist, Senior Vice President at LPL Financial 35:00Twitter:https://twitter.com/RyanDetrickBENZINGA CANNABISCAPITAL CONFERENCEThe premier gathering of cannabis entrepreneurs and investors in North America returns for a 2-Day Hybrid Event on October 14-15.Register hereMeet The Hosts:Dennis DickTwitter: https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://www.premarketprep.com/Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Support this podcast at — https://redcircle.com/premarket-prep/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy