Yeah, I like that main change.
Well, so man, yeah, we'll get started in like three minutes or so. We'll let the room fill up.
I see we got Hagrid on my bottom left, just did Hagrid.
Oh, this is gonna be a fun one.
I can hear Wabi if he was just talking to me. I might have to reset. Let me reset real quick, Wabi, and then we'll get started.
Wow, I just do not hear anybody. You all hear me? Yeah, I can hear you. Wow, a lot of them. Might check me one more time.
I can't hear Robbie. Robbie, yeah, we both can't hear Robbie. Interesting. How that works.
Why be trying to come in with your other account? That way you can probably host through that. Try that. We just can't hear you and it might take us forever to keep resetting to get this going. Twitter is just just got awful right now, guys. Y'all know this Twitter spaces.
He might want us to try resetting again, but I think it might be easier while we if you came in with true guy. We still can't hear you. Gotta try resetting one more time. And then if not, we might just be a true other guy in here.
Might check, might check.
I got you. Bobby tell me you hear me.
- Y'all bear with us as we deal with spaces.
Hey guys, sorry about that man. Are you guys doing what you hear me know?
Yeah, yeah, I got you dude, that is that's crazy bro. That's crazy. I gave the intro and everything Wow That's that that's quite in real man, but Yeah, what I was saying is you know
Of course, QQQ that's been the main opening for these spaces for quite a while now, right? And one thing that I was going to mention yesterday, but it slipped my mind during our space of yesterday is typically like whenever you have these little volatility periods in crypto, you end up
having a 30% move to either direction and you know I want to see some love side I want to see some love side bro it's quite it's quite disheartening that like we topped out right when QQQ was pushing three three
320 or on there. So, you know, we're about like 8% 9% up since then, right? On the cues relative to when the crypto had locally topped. So I personally think that we're going to feel that we're going to feel that
How their citizens are gonna be able to purchase crypto currencies so you have two amazing situations that are gonna happen right so you know well is out look i don't want to rent too much brother but uh well is out look what's going on dude
Are you gonna hit us with sia bro? You're gonna say sia up sia up sia up then daddy brother. I'm gonna show man. I'm not gonna show. Grumpy cat. Look the thing is at the end of the day for me like I'm a little bit limited on time this morning but I didn't want to kind of throw out there like
I think there's a window of opportunity here for upside. I definitely think that I'm just I was so bullish until I saw the dollar man. I was so bullish until I saw you know TLT. There's so much data that's really conflicting.
Maybe I'm wrong at the end of the day, maybe this is full on board. For me, I've been taking bullish positions. I posted that through my thread. I've showed you guys, I'm taking positions on this, taking positions on that. At the end of the day, there's a couple of different things I'm looking at.
You look at Zoom, Zoom is basic IPO pricing, I'm buying, I don't care if it can go lower, like it's whatever, it can go lower, it can go to zero, whichever, it's still opportunity, it's there an opportunity. There's a lot of opportunities setting out there, I think, and I'm not gonna ignore opportunity, right?
Could it be an echo bubble as far as like what we're in the way the way everything's kind of moaning together? Yeah, I mean, there's definitely a scenario where that's that's a place to so I just I say like if you're trading trade appropriately like understand what you're doing, but I think the best position I had to something
the best position for most people, most people, even some traders, not all traders, is to probably just take spot. I would say a lot in the past couple
weeks of not month, a month or so or so on and so forth is like I am consistently right now, you know, like I don't share it with my whole portfolio. I know some people do. I don't. I traded with like 10% of my portfolio and the other 90s typically invested. I did uninvest completely in 2022 and
I got back in, I started slowly dialing back in in October, December, and I would say some really high beta plays. And in anticipation for a bounce, and that bounce just kept going. You never stopped, so I just kept making money on those positions. But there came a time when I took profit on a lot of them.
I've kind of been reallocating that profit in the different sectors. I would say like stock market and crypto. I think I think like just don't be blinded by one side of the other traditional versus versus the crypto, the high beta and on a supply and I like this. There's a lot of opportunities in both areas. And really, I think crypto is right now lagging behind.
behind indices and stocks and stuff like that versus leading them. Because a lot of you keep thinking of this leading and the impulse waves are there. We've already had two. I'm expecting the third one and I've already posted on that. But I think that that's the end of the move right there. Once you get to that third impulse move,
going to get that retracing and you're going to have a pretty nasty downside but like I think it's a buying opportunity personally so I think like when people see that move happen like you need to you need to I would say essentially take a position right and it doesn't have to be like hey I need to go all in this is my whole position for zoom so I'm going to put the whole
position in here like you can DCA your way into positions like if if a flash crash happens or echo ball or the echo bubble pops which I really you know the way things are lined up I think that's a possibility that that that's what we're in right now but those can be extended man they can be year they can be two years they can be six months they can be three months it's hard to gauge that
I'm expecting downside going into the end of the year. I'm going to take that as an opportunity to buy and I'm expecting you know potentially in the 2024 we probably co-down shop sideways for a lot of things and then maybe maybe we run a bull in the in the 2025 and in 2026 the bubble pops. It could be something as simple as that and
I'm kind of taking it from a couple different positions. I have defensive positions in the bonds, some stocks and stuff like that, but I'm not going all in on one player or the other. I'm just being kind of very neutral with the market. So I just went and throw it out there. I was just really looking on time and that's long-winded, but I just wanted to kind of let people know my positioning right now.
Remus what's going on brother? Oh man, you already know what's going on. Go ahead man. Go ahead. Let it all out bro. Let it all out dude. I tried to tell them Hey, I told them bro these cues are serious they're serious they're serious
It's about what we expected. And I yoloed some more this morning. I was talking to the giga chats and I sat down under exposed because on a hot PC print, which we did expected to stay sticky. We got above that 618. I was like, this is where I feel under exposed. So I yolo some TQQQ call.
And that paid off too because we ran up seven points. We're at 347 right now. This is the type of action we've been waiting for. They got jealous on Nvidia. So now they're jumping in other stuff. They're like, oh my god, we're going to get fired. We said we told our clients ignore AI. We told our clients recession by Q1, Q2 or whatever they have.
they were telling them and now they realize they're all sides so they're following into tech. This is where I can start saying Matt now we'll start seeing irrational bids everything before it wasn't we did some pretty good trading we took our time getting up on some levels so I like to see the move this is you know I'm saying it's a good move we still got
I think this is where hedge ones what we're trying to do is try to get the hedge ones out of those puts. We're trying to make them exit liquidity near a top. We're trying to run this thing and it's been good man. I've been long keeping it.
for a while. I had some June TQs that I thought were toast. They are all the way back to life today from the depths of hell all the way back to life. And yeah, I still feel under exposed, but I'm well exposed that we played this year pretty good. I always thought Tech would catch a good bid. We're finally seeing it. You know, we haven't even got to a point of worth
or anything they're jumping in front of all that. Honestly, they're just saying, hey, people have money, things look good, tech companies are making good money. AI is a bid they want to jump onto. And so we're saying, tech lead, I do want to see spy get involved. If you get spy involved, that's how you flip those puts. They're talking about their in record amount of puts.
since 2008, not or whatever, that's where we start getting an insane bid that could look like the melt up. And I would be telling into some of that, preparing for where I top might be. - Permission. - I just want to put it out too. Like, remember, we discussed this morning, quite a few good picks and stuff like that of where we think capital rotate.
And really that's that's what I think it is. I think they are I do agree with you and I just want to put out there like as far as like I think that they are trying to squeeze these these hedges these hedges in for exit liquidity. And and just so the crowd like at least the audience understands like what we mean by that is that
We think that the price continues to squeeze up until these bigger funds that have been sitting sideline and/or under exposed put themselves in a position to where they have to buy these tops and then they you know price then really comes back pretty hard on them because they end up being what we would consider the excellent liquidity. So I just want to
I wanted to make sure that everybody is very well aware of what we're looking at for that position. And that could definitely be a by opportunity, but it's something that you don't want to get caught in the head of trying to buy tops of moves. But there's a lot of bottoms out there. So I just wanted to go out there, kind of mix in with what you were saying.
I love it. Tommy, what's good man? How you feeling about today? What are you seeing in the market man and what's up with tech and stuff? What's good with you? Oh, what's good premise? I mean, tech is insane. What can you say about tech other than that? I've continued to be surprised by the fact that
You have wrist proxies like Bitcoin and the Euro kind of signaling a risk off environment and you know the queues just haven't cared there have been these isolated markets that have just ripped and cessantly like Nvidia you know you looking crypto you have the on chain market which is a little bit more speculative than Bitcoin and Ethereum obviously but you know you're still seeing that
same effect where people are speculating freely, completely unaffected by anything else that could be happening. That's perfectly fine, man. I don't think that's international, but I know we've debated that a lot on this show this week. I tend to agree with you that we definitely haven't seen irrational as far
As at least if you're comparing it to like 2020 2021 the one thing I found really interesting today is that as indexes have gone up so as the VIX at least intraday it's caught in a little bit of a bid So I want to see if that can sustain because if it doesn't then I think you're probably going to see a pretty
We've been talking about this for a while, like a blowoff top, things like tech and the S&P, accompanied with a spike in the VIX, or accompanied with a rise in VIX as prices continue to rise. So I think that's kind of interesting, just something I'm taking note of. I'm still way more bullish on equities right now than
crypto, I mean crypto just looks terrible. I know there's debate about whether we're lagging or leading. I personally think we're leading. I don't think that you see major market makers jump shit a few weeks before potentially massive move, but you know this market has, if anything, a propensity to surprise everyone. So
If that is the case, I have been scouting out some potential long biased plays heading into the summer beyond just the ones that I've talked about on the show before that I'm pretty excited about. But my inclination is still downside for crypto. Given that we just had our op-x this morning, I've been talking about that.
about 3.6 billion in no-sional open interest come off the board. I think that's probably had a lot to do with the way we've been trading. Bitcoin's historically low volatility levels. So I do think we're going to find resolution of that question in the next two or three weeks. Make sense. You know, if there was ever a time for crypto to see real
volatility, I think it would be really the next few weeks. And this quote on quote window of weakness for equities which clearly is not transpired for the cues which are just a manless man. I don't know how I can be bearish on tech even if we get a pull back in the summer man.
I would have to think the market structure would still be favorable for Moompire. But yeah, I mean nothing, nothing that I haven't said before premise, but yeah, I mean this bit on tech is just, it's crazy to witness. And I would have loved if it carried over a little bit more volatility into crypto, but so far that has not been the case.
Yeah, man, I'm looking at Bitcoin now and I did take a long yesterday. I'm up a little on it. I don't know when crypto wants to participate as AI does its own thing AI being the new child of people who want to just bid. However, what's good, man? How you doing today, man? What you watching? I know you were in Planta here as well. What's good? What's working for you? What are#
Yeah, man, I just wanted to quickly touch on what you were saying about about spy it's
It is a little concerning that we're really not getting a whole lot of participation there. Again, like I said on Mark and talk yesterday, I want to see 42-20 flips for upside on-spide. But I mean, if we continue to see cues and tech just chat up while the spy just kind of hangs out.
I think it's a little bit of a cost for concern, kind of a medium term timeframe, but yeah, like if we get some more participation and if we get a breath thrust, if we get some, you know, spy and IWM participation, we're seeing that we're seeing the Dow catch a little bit, but it's probably going to get
continue to be the laggard, but yeah, that's what you would need for significant more upside is more participation from broader indices. But yeah, just to go on what you were saying also, Snorlax about the VIX,
You don't want to see that moving up while prices are moving up, right? We're seeing it red on the day now, but if people are actively adding hedges as prices moving up, that's probably not going to resolve to the upside. That being said,
is great to witness right and yeah you you're right premise I was playing Palantir I played calls on their earnings a few weeks ago and made a good bit of money on it and I like I took the calls and literally like seven bucks or something maybe eight bucks and
I was at 13 and I'm looking back on that like why in the hell didn't I just roll them instead of clothes them I mean those would be up like probably like 20x right now, but it is what it is made some money but yeah besides that I was I was playing some
some spy calls earlier today which worked out well, was just kind of scalping those, but that's kind of been what I've been doing. It's just like, you know, if I'm not already positioned in tech, I don't really want to go get long here obviously, but I am trying to drop some ranges and find some, you know,
and maybe more like three, six month time friend plays that I like on the indices. Probably going to end up being to the short side of this point, unless we can get a good pull back and find somewhere to bid. Just trying to take a step back and map out where I want to be a participant.
Yeah, I mean, it's just wild to watch. We're probably seeing some of the Nvidia profits, you know, obviously roll over into some of the other tech names, but I mean, yeah, like if I'm a hedge fund manager, right, I'm feeling the squeeze right now, especially if I've got puts on cues or anything like that.
that. So yeah, and video still catching a bit today and that is the goal is to pressure those hedge funds, right? Like if we can get these guys to flip out of those puts, I think it's going to be, I think we can get that that irrational bit the one where I can then say, okay, let's look for some safety pullback for those who got in late. By the way, I see we have