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Small Cap Investing
Recorded: Feb. 23, 2026 Duration: 1:02:49Space Recording
Short Summary
In a recent discussion, market analysts highlighted the declining trends in small-cap stocks, particularly the IWM index, which is down 2%. Amidst macroeconomic uncertainties, there is a growing interest in precious metals like gold and silver as safe investment alternatives. Analysts also pointed to emerging growth opportunities in sectors such as AI and battery technology, suggesting that investors should remain vigilant and consider strategic allocations in these areas.
Full Transcription
Thank you. Hey there, how you guys doing? Hopefully a sound is coming through loud and clear. And
welcome back to another show, small cap show, small cap investing with Story Trading. And
of course, we are happy to have you all here. And just as usual, my name is Taj helping
the crew here to open up and get things
going. But love to hear what's going on on your side. Of course, as usual, they have some great
discussions and it's always just fun to plug into what's happening in the small cap world.
A lot of times, the Mag7 and all the big stocks kind of dominate the headlines. So if you're into
the weeds and getting all the details of all things that's happening with some amazing companies
that I just don't think gets a lot of coverage,
it's always great to have the story trading crew here
and hear all the amazing things that's happening
on that side.
So how are you guys doing?
Doing great, thank you Taj.
I guess welcome to the weekly show.
Are you gonna be doing this every week for AMP?
What's the schedule there going forward?
Okay, I'll take it over. Anyway, so in any case, I'm going to start with some of my first of all,
I'm going to apologize in advance. It's going to be noisy back here today, and I may have to step out because I'm dealing with the snow here,
and I'm waiting for folks to come and clean my driveway.
I may have to step out to move my cars, and my kids are here off from school, so I apologize for all of that.
In any case, looking at the macro first, look, IWM is down sharply today, 2%.
Bounced off to 50 DMA.
On Friday, I was really bearish on IWM.
And I wish I played it better.
I was shorting the market like all day Friday, but I didn't swing it today. You know, Friday morning we had light,
we had a hot PCE and a bad GDP,
which on the surface I translate that into stagflation.
Here's some Taj on.
All right.
So, all right, now Tajri here's the speaker as well.
So in terms of the short term, I don't know what's going to happen long term.
I don't know what's going to happen with inflation.
I don't know what's going to happen with GDP and everything and jobs and all that long
term.
But these indices were at a precarious place coming into Friday.
Especially the Q2Q has been in a very precarious spot, which if it dies, it can drag down the
IWM too.
So we've been looking at, I've been embarrassed on the Qs for a few weeks, looking for a move
to the 200 DMA.
And then we come out with that hot PCE and the bad GDP.
And in terms of, you know, how is that going to impact the short-term trajectory of small caps and risk assets?
So I thought it would be very negative.
You know, then we had the Supreme Court ruling, but then, which was a positive temporarily until Trump put that 10% global tax.
temporarily until Trump put that 10% global tax. And again, I thought that was a big negative,
you know, that, hey, the tariffs are remaining with this 10%. So I was very bearish Friday,
and I was shorting IWM. And then I just got my ass handed to me, because for some reason,
the market said, hey, that's a good thing, 10%. Maybe it's better than we expected. Or maybe we
think it's not going to stick legally,
or we'll need congressional approval at some point.
It's not going to work.
So the market was celebrating Friday afternoon.
I didn't get it.
I was completely confused.
I'm like, if you're going up on bad news, that's not a good thing.
Get out of Dodge.
So I got out of my short on Friday, and now all I have to do is hold it one extra day.
So anyway, that tripped me up a little bit.
But now you can see the price action definitively bearish, moving to the 50 DMA on IWM.
QQQ looks very weak.
And again, it's a small cap show, but I look at the bigger indices because it can drag down small caps as well.
as well. So, you know, I think net net, you know, what we have also is a lot of uncertainty in terms
of the tax, I mean, the tariffs, right? So we have the negative from hot PCE, the bad GDP numbers,
but then we have uncertainty around tariffs. And put it all together, market hates uncertainty,
especially when the Iran thing is still boiling in the background. So put that all
together, and I'm pretty bearish. And in my short-term account, I have very little exposure.
There's like one small cap that I'm still kind of accumulating, which I'll talk about on the other
side. But I'm very defensive right now, high cash position, mostly in TLT bonds, a little bit of gold, GLD, and some war hedges, not with
small caps though, with the large cap war hedges.
So that's where I'm at right now.
And, you know, looking at, again, I keep jumping on the queues, again, even though it's a small cap show, but, you know, if we get a negative headline from Iran, I think the queues can gap down to the 200 DMA around 583.
And, of course, if that happens, you'll see IWM, you know, gapping down as well several percent.
So that's an acute risk I think is in the market
anytime this week or next week. So as far as small caps in my short-term account,
yeah, very little exposure. And I'm kind of waiting for the shit to hit the fan.
Long-term, I haven't made any changes. I'm still basically fully invested. I have two accounts. I
have my ultra long-term account. That's basically my retirement account, which I can't touch that money for another decade. So I don't manage that very tightly. And I stay invested, fully invested most of the time. The bigger cash position in my long-term account are really bad things like when COVID hit
and Liberation Day, those periods, I'm like, okay, let me get a little defensive, raise
some cash so I can buy back lower.
But other than that, in my long-term account, I'm pretty much fully invested.
So I have probably at least a dozen small caps in my long-term retirement account.
But the short-term account right now very defensive as i said there's only one stock that i'm picking off uh here and there and i'll
talk about that on the other side really interesting stuff there uh my friend uh great breakdown of
course yes all the craziness is happening around the world is very relevant but that will pass the mic to douggy fresh how's it going everybody so yeah
we're looking at a uh pretty red day obviously and a snowy day if you're in the northeast but uh
yeah iwn definitely dipping down like ben was saying all the way down to that 50 area it looks
like it's going to fall through with that your queues coming down spy coming down everything
looks like it's coming down even crypto
not looking that great but you know what looks good uh ben touched on it gold and silver they
both look good so you might want to keep an eye on that and of course we're worrying about our
tariffs because uh that's what's really making the market all crazy right now and our geopolitical
risks i honestly looking at the um your big uh like lockheed martin and
things of that nature i know we're a small cap show but just talking about geopolitical risk
i do still think that our uh our um aerospace and defense is looking too set up guys i was saying
it the other day it dipped down friday but i wasn't it didn't really affect me i didn't think
i just thought it was a little healthy pullback.
And they do look a little bit too good.
So we have to keep our eye on what's going on in Iran, obviously, because that'll affect the market really quick.
But, yeah, it's just a weird market right now.
Things are just pulling back.
And that's all that's really going on.
Not a whole lot today, obviously.
And, yeah, I'll just kick it back to you. So we have more time to talk about single ones.
Yeah. Really cool stuff there. And if I'm not mistaken,
I have to double check this,
but I'm pretty sure I saw an announcement go out saying that, uh,
bumped it up from the 10 to 15, but I'll double check that. Don't, uh,
fact check me. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah.
Yeah. Which, uh, it is just one of those things.
Like, you know, it's definitely interesting to see the response.
But I'll pass it over to Laptop Travel, my friend.
How's it going?
Hey, it's going pretty good.
You know, if you've got your fingers on the pulse of what is happening, which changes moment by moment, things are doing well if you're a smart investor.
Yeah, the way I see it is, you know, honestly, the market is spooked.
I think initially what we saw with the market reaction after the Supreme Court's ruling was a positive one.
And then the executive branch, President Trump, came back and said, well, if I can't have
it this way, then I'll do it this way.
And then the market definitely got spooked with the immediate announcement of the 10% tariffs and then the follow-up posts that are coming
out through Truth Social and then the increase to 15% and now the threat of any country that
thinks that they're going to take advantage of the Supreme Court ruling, that he's going
to make them pay for that.
Those are not words that, you know, the market generally wants to hear. The market's not a
teenager playing pinball machines in a video arcade. It's more the overall market likes the
Warren Buffett more stability. And that's what we're looking at. So we still have this big trade tariff issue going on, and there's been a huge rotation,
a sector rotation.
A lot of investors are still spooked about the whole AI CapEx situation, and are these
companies over committing to something that right now people
don't see profits you have to think back to the internet though and i know we did have the internet
bubble which popped but there was a lot of hype about oh this is going to change everything and
we're spending all these millions and billions of dollars. So if you kind of look back at that, will AI pay off?
Yeah, my bet is long-term it will.
Short-term investors, a lot of investors are saying, show me the money.
But right now I see a lot of my assets are in highly in precious metals.
It's where I am deeply most.
Very few small caps, as Ben said.
Unfortunately, it's almost impossible to find a small cap like a precious metal, like a gold or a silver miner.
So a lot of investments in there are more with large cap companies.
But we're still looking to get through this chop and volatility.
I see a much lower number for the Qs coming before we get out of the woods.
So I will pass that back to you,
and we'll talk about some stock picks on the back end.
Just a little clarification on the price action on Friday,
because I was playing it with puts all day.
So when the Supreme Court announcement came out, the initial reaction was sharply up,
but it didn't last long. It lasted maybe just a few minutes. And then it sharply sold off
when there was an announcement that, hey, Trump would have a press conference,
I guess, at 2 o'clock or something to respond to this.
So then it started selling off until that announcement, because people are worried about
what he said, right, that he'll come back and propose doing it another way.
And then what really tripped me up Friday, which could be instructive or maybe it's not
instructive, is that when he made that announcement of a 10% global tax I mean the market just soared for like two
hours straight maybe an hour and a half it was just like crazy crazy move to the
upside which just you know I didn't understand that reaction in retrospect
either it was just a market inefficient reaction and it was you know buy them
sell the rumor buy the news and you you know, took time for people to sink in to move into the right direction. Or it was, the calculation was, hey, a 10% is
actually better than the, you know, net net, that's lower tariffs than what we had before.
And then subsequently sold off into the weekend, which I kind of expected in terms of geopolitical
worries. But, and then I think maybe what sealed it is the increase
to 15% is getting really aggressive over the weekend. The uncertainty that that all brings,
I think maybe that's kind of what's sealing the deal to turn the direction downward. So
it was just very interesting to see that price action. Sometimes I'm a little bit maybe too short term oriented in my short term account
and I got to give a little bit of room for people to be emotional or something because
that first call I had all day to short IWM was the right call but it just didn't work
out on Friday.
Anyway, just wanted to put the details out there.
It's always very interesting to me.
My whole philosophy about story trading is that there's a story behind the trade.
That's where the name comes from.
There's a reason why people do what they do.
And everything I do is all about dissecting the psychology of the market, right?
Why are other people reacting this way or that?
And I always strive to master that because then that allows me to predict the psychology of the market and how they'll react to a particular catalyst.
So I'm a firm, firm believer.
And one day we'll have some spaces on this.
I'll write a book on it.
But I'm a firm, firm believer in market efficiency
and that everything has a reason behind it,
which is why I like to delve deep into that,
the minutiae of the price action
and how people are reacting to the catalyst on Friday
and how maybe they switched over
and have a different opinion after the weekend.
I find that extremely fascinating.
I mean, that's basically what I live for,
is to understand price action and then predict it
and predict market psychology based on catalysts.
So in any case, is there anyone else on the panel today?
We've got a smaller panel.
It's just Doug, you, laptop, and myself.
Diasis Holdings is also up here too as well.
Bouncing around on and off. So hopefully
you're there now. We're all having a little
technical difficulties as usual. So I'll pass it to you.
Yeah, I'm here.
This is Ariel speaking at Diocese.
And as you guys know,
story trading is exactly what I love to
look at as well.
It's one of those things I keep harping
on Monday to Monday that we have
these conversations is know your companies, don't be afraid of price action. And if you understand
the business that you're investing in, this is something that you should obviously get back to
the thematic place, but also not be afraid to hold some core investments since you do feel that the
earnings and revenue is coming in play. I think story stocks in general, when it comes to just
an idea and something that's hot, when you look at something nuclear that's 10 years down the road,
I very much worry about that. That's the stuff that I like to trade. I enjoy it. I'll jump in and maybe ride the wave
for a couple of baggers there. But ultimately, what I try to strive for as someone that's just
recently went on the buy side is to make sure I preserve my capital, but also know what the
hell I'm investing into. So based on today's markets, it's just all over the place. And you really cannot go by the trend.
I just don't believe in the trend per se.
Obviously, I'm always biased upwards.
But when you look at the forward PE on S&P, and I know it's a small cap show, but you
should need to know the macro.
We're trading around 23-ish times forward when the historical rate, I just look at the
last 10 years or so, it's like 18 to 20, maybe closer to 18.
And so I am a little wary of the elevated, where we're at at valuations.
But I'm also looking at, okay, why are we here?
What's around us?
Do we have like a bull train that we're on?
And I don't like the seasonality effect of where we're at today.
I do see some major downturns that come around this time of the year.
So I put all that into the mix and ask myself, okay, where do I want to be?
So I said this last time we spoke is that I am very much looking at commodities.
I'm a super bull when it comes to understanding the debasement of the fiat dollar, right?
And so everyone's printing like crazy and
the market's showing you that, you know, the place to be is in commodities long-term over,
you know, just dollars in general. So that will give you a tailwind in these types of
priced assets of gold, silver, but even critical metals. And so I'm putting a lot of my attention
on initiating new longs in that world and investing directly into those companies.
That's what I do.
So I'm just giving you guys a little sense of where my focus is because the AI movement has been made.
Now you can maybe go downstream a little bit, understand the agents and what does all that mean with Claude.
And I'm very much focusing on that side too, who wins on that space and try to pick some, you know, these earlier stage companies that are generating revenue, not just the idea of generating revenue.
Makes sense. It's definitely something that we have to keep an eye on as far as who's actually generating revenue as opposed to who's just getting huge investments. Two very different things. But yeah, Ben, go back to you and, you know, here's some thoughts about some individuals that you're
looking at. Any thematics or anything that really is catching your attention right now?
Sure. Yeah. And just as a clarification, when we're looking at story stocks,
understanding the story behind the trade.
Only we have something called our four pillars, which is sentiment, catalyst, fundamentals
and technical.
So only one of the four pillars is sentiment, which is basically what's trendy.
You know, also strongly look at fundamentals and technicals and catalyst is very important
because the catalyst is how you time that that tree.
So you know when I'm looking at when I'm looking at opportunities it's really all about understanding
and predicting what the market psychology is but the market psychology is not always
about sentiment.
The market psychology also is about fundamentals. So you have to appreciate that there's a group of traders
and investors out there who only look at fundamentals. And you have to appreciate there are a group
of traders out there who only look at technicals and a group of traders who only look at the
trend trading and a group of traders who just do catalyst trading. So when you understand
that the market is made up of all these folks, then therefore I have to take fundamentals seriously. Because if the fundamentals are good,
inflecting, undervalued, whatever, I know that the market psychology of those fundamental
investors is like, oh, I got to get into this stock. It's really cheap now, right? So that's
what we mean when we're talking about story trading. It's not just the trend or the story.
It's all of those things that go into it. So on that note, one stock we'll bring up here is Airtest Systems.
I don't know if I spoke about it last week, but AEHR, this is my baby. I've been investing,
trading, and knowing this company, more importantly, knowing about all the movements of this company for gosh the past five years
since uh i guess early or mid 2021 and there's been some cycles with the stock and um you know
i'm back in i've been back in for about two quarters in my long-term account but in the
short-term account you had a catalyst here here on on February 11th, which you can see this big gap.
Stock exploded to $37.
So I was all over that in pre-market, and it was probably my biggest day of the year was getting big size in AEHR in pre-market for that big pop on February 11th.
And you can see it pulled back for one day.
It's right back to the highs again. for that big pop on February 11th. And you can see it pulled back for one day.
It's right back to the highs again.
So AHR, they've pivoted, you know,
their first cycle up from like $250 to $50 had a lot to do with,
I'm not going to get into the minutiae
of how the product works,
but their end customers had to do with electric vehicles.
And now they've been, I don't want to say pivoting,
but they've found a new opportunity
in AI.
They've been trying to get an AI and a couple of quarters ago they indicated that they were
having a lot of traction in AI and that they were going to win some big contracts on the
last earnings call.
You can see since the earnings on January 9th, they actually raised their guidance.
Actually not raised their guidance, but reinstituted guidance. And it was very bullish. Stopped giving guidance for a while.
And they reinstituted their guidance on January 9th because they were very bullish on getting
near-term AI contracts. And that's what happened. They got a big AI contract on February 11th,
and the market's now starting to price that in. And I'm waiting additional,
maybe even a larger AI contract to come.
So I'm on top of that news feed every morning waiting for the next one.
But with or without it, you know, I think that's important for timing.
That's the catalyst pillar in terms of when that catalyst comes.
So you know what to look for.
I know what to look for.
I look at that press release.
Is it what I wanted?
Is it as big as I wanted, et cetera, et cetera?
And then I'll make a move that day when the next press release comes out.
But you can see here, you know, I have a price target of $50 to $100 at this point on AHR this year, 2026.
So this thing has inflected.
The company gave you a tease that they inflected on January 9th,
and they got their contract validating that inflection on February 11th, and we'll be getting
another contract hopefully here in the next month or two or maybe weeks or maybe days
to accelerate that inflection even further. So I added AAHR to my long-term account and
increased my position, I should say, because I had this
once they were giving the early tell, but I increased my position on the morning of
February 11th in pre-market. And unfortunately, this big move of the last few days in my trade
account, I missed this because of what I said. I've been very kind of nervous short-term about
the market. I've been very, very cautious. So I got that big
first day move, but I've missed the last several days. But in any case, you can see the price
action on this AEHR and RSI is not overbought yet. It may continue to be in play. It's all
about timeframes. I think, you know, if you have a longer term timeframe, you can probably buy it here at $35 even after this big move today.
But like in a shorter term account, I've been holding back.
You know, I'm kind of waiting for if there is, if Iran gets kinetic, which I'm betting it will,
I'm kind of waiting for that as a buying opportunity for a lot of stuff.
opportunity for a lot of stuff. So yeah unfortunately since I've had that point
of view I've kind of missed some of this move here in AAHR but in any case that's
that one stock that I'm looking at. Another one is AMPX and AMPX I'll tell
you I don't know this is one like as opposed to AIR, which I know the fundamentals really well, and I've spoken to the CEO, and I've been on all the conference calls.
AMPX is a relatively new name for me, and I haven't done the full fundamental research.
And I'm leaning on the fundamental research that the Godfather knows has done in our community.
He's currently on the leave of absence for a couple months.
But leaning on him a little bit, and I like what he said, you know, in terms of the valuation and their customers and the revenue and their growth.
They're a battery company, but lightweight batteries that are used for drones.
So this is two really hot sectors, both drones and batteries with a good valuation according to my colleague the godfather knows
I put that all together and I really love it and um amtx is actually I forgot if we made a January
effect pick laptop but it ended up being you know I think it's my biggest winner of the year
because you can see the move it made exactly on January 2nd. Oh my gosh. So from like January 2nd,
the first few weeks of the year, made a killing on AMPX, but it's pulled back appreciably and
earnings are coming up. It says here estimated March 5th. I don't think they announced the exact
date, but the software is showing March 5th. So AMPX is something I'm stepping back into right now, even though I'm worried about the market, just because of the proximity to earnings and this big pullback we recently had.
And they've had two recent big upgrades.
It was Needham coming in at $20 price target a couple weeks ago.
And I think that was I think that was existing coverage and they increased the price target a couple weeks ago. And I think that was, I think that was existing coverage and they
increased their price target. But then this morning we have Craig Halem initiating coverage
with a buy rating and a $17 price target. So to me, this is like a perfect storm because you have
institutional coverage, bullish coverage. You have retail that just, I think, I don't, I don't know
how much they love this name, but I think it's growing and i think they're going to come to love it because of the sectors
right drones and batteries um so this is one that i have been kind of choosing my spots to
accumulate i don't know honestly i'm doing it with call options again because i don't want to
put a lot of capital at risk right now because of my thoughts on the market.
And maybe that's a mistake, but I don't know.
I'm in, I think, April.
I think I'm in April call options on AMPX.
And at the minimum, I'm hoping for a big run-up into the earnings report so I can take some off the table before the earnings report.
the earnings report. So in any case, that's AEHR and AMPX are two small caps, which I think are
very compelling, even in this potential shift towards the risk-off environment for small caps.
Really interesting there. And while you were speaking, I just pulled it up on rallies,
and I just wanted to compare it next to the S the s&p ampx there is a huge spread it
is crushing so yeah that's really interesting there that's something i'll definitely have to
pay attention to and uh since you you mentioned uh laptop travel like uh i think you said i was
interested or was speaking about ampx too so i'd love to hear your thoughts if this is something
that you'd like to add to or whatever is on your radar, I'll pass it to you.
Then we can go to Dougie Fresh after.
Yeah, thanks.
Yeah, I also believe that AMPX is a smart small cap play because they are so integral to extending flight time through the use of their battery technology for drones and stuff.
So what I have that I've been looking at for our listeners is,
and now I've provided charts for all three of these, just say in the comments in the chat there if you want to look at.
But first one is Black Diamond Therapeutics.
So this is, they're trying to make what we call smart targeted pills that is going to attack specific cancer genes that have mutated, you know.
mutated, you know, especially their focuses on lung and brain cancer, brain tumors, when
other drugs have stopped working.
So they've had really strong early results with their lead drug, and I think in December,
60% of patients with these specific lung cancers responded well.
So they also have $135 million in cash.
So they have a runway, a cash runway, which should last them through 2027, possibly into
2028 after they have put in the measures to cut extra costs. The very fiscally responsible biotech company,
now they're still losing money,
about $8 to $9 million each quarter,
but that's normal for these biotechs
spending tons of money on R&D,
clinical trials and things.
If you look at the chart of it,
and I would ask everyone to ignore
just today's price action on some of these,
but the chart is, to me, telling me that good things are coming for this.
And so they're also working on brain cancer.
We should hear more about the results of that sometime before the spring of this year.
And it's really good.
Analysts seem to like it.
The average price target, I believe, for analysts is about $9.30.
The target has a huge multiple over the current selling price today.
So it's maybe a little bit risky if the trials don't work out. has a huge multiple over the current selling price today.
So it's maybe a little bit risky if the trials don't work out.
Always a concern for biotechs.
But it is probably one with its cash cushion and positive data,
I think, makes it one of the highest upside picks for me.
My next one is a stock I've known and played and traded many, many times over a few years is IOVA. It's IOVance Biotherapeutics. And they make a special cancer treatment that
takes a patient's own immune cells and it trains those to then fight tumors better. That's a smart play on biotechnology.
Because they can put them back into the body without rejection.
So their main product has already been approved for FDA for advanced skin cancer,
which is melanoma.
If anybody's familiar with that, it's a rapidly spreading cancer.
And they are on track to make $250 to $300 million, even more, possibly definitely more this year. They have about $300 million
in the bank right now. So they look really strong. Tomorrow, they will release their full 2025 earnings.
So that's something to look forward to.
That's a big catalyst, and they're already having success with their drug.
And I believe it's called amtagvi.
Spelling here, A-M-T-A-G-V-I,
and it works better when started earlier.
And they want to expand that to lung cancer,
and that would have a market that is seven times larger than what they expect for their melanoma market so
another stock that has a price target with analysts around nine to ten dollars
so that looks very promising and then the third one i have is
ticker symbol nnox it's nancy Nancy, Nancy, Oscar X-ray.
And that's Nano X Imaging.
And they build cheaper X-ray machines.
It's pretty simple.
But they're using digital technology and AI
to help doctors see inside the body clearly.
So that's obviously where medicine is headed into
is the smart integration of AI into medicines and treatments.
So they just got an FDA okay early this month for a new image improvement feature, which should make the scans even better.
Sales are small but are growing.
And so the company says that they should hit $35 million in sales
by the end of this year. So I really like that. The target on that is $7.40. I think today
that is selling for about, I think our market price right now is about $238.
So good opportunities there.
Otherwise, going into, I talked about precious metals.
I've been a real fan of silver, and I'll just say,
throw out three tickers real quick.
Silver miners, as the price of silver increases,
the profitability for these miners increases dramatically.
Think of it as like crypto mining.
Whenever they get past their base costs of their equipment and their structure, then
everything as the price increases, the profits increase dramatically.
So my first one is AG.
That's Alpha Golf.
That's First Majestic Silver Corp.
The next one is P-A-A-S, Peter Alpha Alpha Sierra, Pan American Silver Corp. And the last one is
very familiar to everyone, should be is Hecla Mining, and that is Hotel Lima Stock Symbols.
All three of these stand to profit tremendously as silver goes up.
I have a huge target for silver by the end of this year. Currently, right now,
I advise our Discord members to get in at $70.50 on the ETF SLV, which is a silver ETF, shooting for 86. I expect to see 102.78 by mid-March, maybe late March,
and higher, higher numbers later this year.
So it's a lot there, but there's six stocks right there to take a look at.
Yeah, thanks for that.
And as unfortunately, someone who has had my fair share of x-rays, the thing that caught
my attention was that Nano X.
I have to look into that one, do a little bit more research there, because I've had
my fair share with those machines myself.
So I will pass it over to Dougie Fresh.
You there, my friend? to Dougie Fresh.
You there, my friend?
Anything on your radar catching your attention
or anything that was mentioned
by any of the guys previously
that you'd like to weigh in on,
give some thoughts?
Really appreciate it if you're there.
All right.
Looks like you might have hopped off for a second, but we'll pass it over to Ariel.
All right. So I've been mentioning about gold and some of the players that I've been really researching and found one that I like so far with my team.
And again, this is a major disclosure. Obviously, I'm saying, you know, please don't take anything I say as a buy recommendation, just telling you what we're doing. So everyone, buyer, beware. Right? Caveat, I'm sure. But I have to say that. on the TSXV, but also has an OTCQX, which is obviously very risky, considering it's not
listed on the New York or NASDAQ. When I say risky, I always worry about liquidity,
how much you have to assume slippage when going in and out on bid-ask spreads, so always put a
limit order. But if you look at that, again, I'm looking at producing, you know, companies that are small,
that's just not on anyone's radar. That's what I love. And, you know, you could take advantage of
the stock market when you, they're already giving you a look, meaning like they're, they're showing
you their hand, Hey, it's doing well, but the market never realizes that, you know, growth as
quick as you would think they would, unless it's a meme or it got everyone's
attention and it's thematic, then you have to be careful. But in this instance, I'm surprised it
just hasn't really seen the light of day just yet. And I love that. So it's in Canada, it's in
Ontario, that's the 15th of, so the Fraser Institute ranked it as 15 out of 82 on attractiveness
scale. I don't know if I care really that much, but it just gives me a little bit of more validation.
I do like the cash flows situation there.
When you start going into great detail, you start realizing that they're trading at a major discount in the NAV.
Their current market cap, Canadian, is about $315 million.
And then they're using everything based off of
2200 gold. So again, I'm throwing a lot of numbers at you guys, but take a look at it just because
when you start thinking about if it's valued at somewhere between 0.5 and 1.0 NAV, net asset value
of the gold that they have, and they're already getting it out of the ground. So they're generating revenue, they're profitable,
you know, that kind of stuff.
So that's roughly around a billion to 2 billion Canadians.
So you're seeing at least 2X upside here is how I look at it.
That's in the position I'm liking here and initiating.
But this is the kind of stuff I've been telling you guys
that I'm looking at.
I don't see gold crashing anytime soon.
I think 5,000 is a level that's pretty formidable.
But again, like there's a reason for it because it's just all the right reasons are being used to buy into gold.
But I'm not just looking at gold.
I'm looking at copper.
I love copper here because I'm trying to find some of those plays.
So I'm just telling you guys, at least I gave you a name.
I'm looking at others.
But this one, I've done a decent amount of research
and have looked at it with the team. So that's an investment that we're definitely taking a look at.
What was the stock ticker on that?
Sure. The ticker is WRLGF. That's on the QX. Or on the venture, it's just WRLGF. So W-R-L-G-F. That's on the QX. Or on the Venture, it's just W-R-L-G. Name is West
Red Lake Gold Mines. Perfect. And yo, Ariel, that walk call was beautiful you gave out the other day.
That thing just went up and to the right. It's pulling back now, but that went straight up for
like a week and a half. That was a really call and my guy my bad guys i uh my little
guy came out and i couldn't even hear you guys asking for me so my bad you want me to just go
right now i'll just cruise right through it worked out better because i can go through everything
yeah so yeah uh yeah laptop drive travel your iova i know we look at that sometimes that's
looking good going in the earnings i'm not an earnings person but that chart looks pretty good
right there and in your bdtx i was looking at that black diamond. I know we've looked at it
today. It's down a little bit, but it's been setting up right there. Obviously been our AMBX.
We've been playing that lately and it is getting set back up. It looks like it's trying to curl
up. We'll see. It does have that earnings coming up in the beginning of March. And we'll see if it
does want to get through the MACD as it curlsls right there and then of course air you're the air master i'm not even going to say anything
on it ben guys whenever ben tells you air is going to move listen a e h r he is the air master i'm
telling i've never seen anything like it someone that knows a company like that every time he says
it's going up it doesn't only go up it flies It like gaps up and goes crazy. So I just listen to him when he says that he likes air.
And I know he looks at it like every morning.
So anyway, there you go with them couple looking good.
And here's a couple other ones.
Plug right here.
We've been watching that one.
It's trying to plug away.
I think it's got a bottom right here.
It's been pretty strong.
P-L-U-G, plug power.
It's an electrical part one.
You can keep an eye on that. Snapchat's been pretty strong plug plug power it's an electrical part one you can keep an eye on that
snapchat's been pretty decent lately it has a little healthy pullback it still never even got
out of the basement right here that's snap so you can keep an eye on that maybe a little healthy
pullback right now maybe the next day or so but should try to get moving again and um and then
rgti was another one that's a computer hardware one and it's been bouncing
around down a little bit today but not looking too bad i thought that was setting up the other
day so i had a little pullback i do think that'll get running as well and the markets obviously like
we were saying earlier been a little weird right now so we'll see what's exactly going on but
that was on my radar right there and And again, my apologies that I didn't
answer last time and, uh, kick it back to you guys. So thank you everybody.
Yeah, no, great. No, no worries about that. My friend totally understand, uh, definitely
something that, uh, we're used to just rolling with the punches, but, uh, I'm just glad to see
that it wasn't the technical difficulties because that's a lot more annoying to deal with. But as far as, you know, because
of course, we kind of hopped around, touched a whole bunch of sectors, obviously went into
individuals and so on. But, you know, earlier we kind of opened up with speaking about all the
macro and all the crazy things that are happening, whether it be tariffs, geopolitical stuff, possible war and all that stuff, you know. But, you know, just as far as managing risks and as far
as trying to, I guess you would say, evaluate best place risk reward ratios and so forth.
How are you guys going about like really doing that? Because, you know, a lot of times people
want to look into the small caps because obviously, you know, there's potential to move the most. But all the things that we kind of mentioned,
all of those, you know, are real considerations. And a lot of people might not either have the,
you know, the full conviction or just haven't fully understood or researched all the risks
associated with that. So what are you guys doing to manage risks? You know, I'd like to hear some thoughts first from Ben. Yeah, I mean, that's a topic that can span many hours. So, you know,
I'll just say a few thoughts. First of all on risk management and I give a lot of my thoughts in our community
about how I manage risk.
And you know, one of the biggest ways, the best way, the best, number one best way to
manage risk is to be very deliberate about your allocation size. But in terms of the magnitude, like, you know, what is the allocation size?
Or if you, you know, there's a few things too.
Allocation size is one.
Another thing, I don't do technical stop losses.
Sometimes to my detriment, but I just don't believe in it.
But that's certainly some things.
I'll do like a mental stop loss sometimes.
But I'll only do like a price stop loss if I'm in a trade that I don't understand, right?
Which I'm kind of getting out of my lane.
I'm not entering a stock based on a deep understanding of catalysts, fundamentals, technicals, and sentiment.
And I'm just trading because I'm there, right?
I do that a lot until I find the next big win.
So if I'm in something that I don't really understand,
then I will do a price stop.
I don't do like a strict technical stop loss,
but I'll do like a mental stop loss.
And I'm actually extremely rigid about that.
And I think one of the things that really turned around
my performance was getting rid of this kind of like ego thing
that you have to make money
on each trade.
And I've mastered that a long time ago.
I don't care about making money on a trade.
I don't care about being right.
You know, if something is going against me, then I'll sell it for a loss quickly because
I'm all about capital preservation.
And you know that again, but that's a very personalized thing, you know, because this particular short term trading account I manage, I really rely on cash flow from that account.
So I can't afford to have drawdowns.
See, that's how that's different than how I manage risk in my long term account, where I don't care about drawdowns.
So it's a very individualized thing.
How do you how do you manage risk?
I'm jumping around a lot of different places.
But, you know, like, so the price
stops is obviously one of them.
The allocation size, I think, is the most important thing.
But another thing is a story stop loss, right?
Not a price stop loss, but a story loss.
And this I'm very strict about.
If you have a particular thesis in something and you come across new information or there is simply new information that comes
that invalidates your thesis, I will sell that thing so fast and I don't care what price,
right? I'm not going to sit there and wait for a better exit. That's just me. This is something
that I've developed over the years that I found that much more beneficial to rip it off like a
band-aid and sell. That's story stop-loss and I sell
right away even if I'm selling like the low of the day I don't care I want it
out of my mind and I want a fresh start with something else that I have a thesis
I have conviction behind so you know that's a few ways that I manage risk and
and when it comes to allocation I I would say this to close off before anyone else that
wants to maybe say something.
But I think one of the, an excellent way, because again, it's very individualized.
Like personally, when I do options, I'm like, my position size is like half a percent to
one, one and a half percent max.
I won't do more than 10% of my entire account in options.
So, you know, that's what I do.
But really, the way to determine the proper allocation size
is every time you enter a trade, do this, ask yourself in your mind,
don't ask yourself, how much can I make on this trade if I'm right?
Ask yourself, how much am I willing to lose if I'm wrong right and you do that math say this is what I'm going to lose
if I'm wrong that's your proper allocation size okay so I threw a lot
out at you and I think a good overview of different ways that manage risk but
yeah I mean honestly this is a topic maybe you guys that wolf should do a
series on it because you can go on and on about this.
Yeah, 100%.
Absolutely.
That is something that we could do a whole series on for sure.
But I just wanted to throw it out there because obviously we're talking about all these possible things that could affect the way we're looking at this stuff.
But, of course, you're going to have your convictions and everything.
But laptop travels, anything you'd like to add on that? I know it's a broad topic, but as far as risk allocation,
what you're doing as far as in this climate, if you will,
as you're looking at some of these small stocks.
Well, I think a couple of things.
Number one is every moment I look at and say, am I satisfied where I am right now at this moment? What if
the power got shut off right now? Would I be okay? And there are times when I feel uneasy
about the market or a situation, and I literally will sell everything in my short-term trading
account and just go to cash and just say, okay, let's take
all the chips off the table. Let's sit back. Let's reevaluate how we're doing this. Another thing is
when I start looking for stocks, sure, we use computers and scanners and things like that,
but I start with the market. What is the market telling me today?
What do I think it's going to do this week in the short term? Then secondly is in the market,
what sectors are performing well? What sectors do I think will perform well? And then when I've
identified the sector, then start digging for and finding the gem of stocks, which might be just hidden just under the surface.
So that's how I get to the stock.
So risk management, I work backwards.
Do I still like the stock?
Well, let me zoom out and look at the sector.
at the sector what's the sector telling me maybe it's not my stock maybe it's the sector
What's the sector telling me?
Maybe it's not my stock.
Maybe it's the sector.
and then if i still like the stock i still like the sector and i zoom out farther and i go well
let me look at the market now so i like the stock i like the sector but the market is that telling
me that i need to sell so or stay in so i so i drill to find the stock, and I drill back out to tell me whether to stay in or
get out.
Now, of course, emotionally, with a big loss, or it doesn't perform the way I think, I have
no emotional attachment to basically any stock.
If you have to think about that, it would be very analytical.
It's just an asset.
It's just money.
It's just numbers.
Don't have an attachment to that.
But my loyalties are to my family.
my family.
Did we lose him there?
I lost audio on my side.
Yeah, he said his loyalty is to his family, so...
Yeah, yeah.
Cut out, right?
Can't leave it anymore.
Suspense the last time I traveled, can you?
There we go.
Sorry, your sound cut out just a little bit when you said my loyalty is to my family and then we just lost you.
Oh, yeah.
So my loyalty is to my family.
And so I don't have any emotional attachment to the stocks.
So sometimes just sell everything and just step back and analyze and go to cash.
and go to cash. And today, I'm less likely to go to cash, but I'm more likely to go to a safe asset
right now with commodities, particularly silver, gold, and copper. So risk management, for me,
is balancing those things. And that's how I zoom out to make those decisions.
Lots of times you say, when you look at charts, people say, zoom out. And the picture becomes
clear. So I will zoom all the way out to the market, going past the stock, the sector,
and then looking at the market. So that's how I handle that.
Nice. Really appreciate that.
And of course, I love the part when you said your loyalty is to your family,
because sometimes when we're looking at charts and doing all this stuff,
I think people tend to forget exactly why they're doing it
and get lost in the numbers and the profits and all that stuff.
But, you know, kind of went all over the place with this question,
but I know, Dougie, you kind of just jumped in there.
So anything that you'd like to add to the context?
If not, we can just kind of wrap up.
We have a few minutes left, and we just go around the room.
Yeah, real quick, I'm more of a Dally trader,
and I always have been more of a penny stock and setup kind of guy,
not so long
term. Maybe I should look at him a little long term because sometimes I'm a little early and I
jump out of him too early. But with that being said, I look at my risk and everything. Allocation,
Ben's taught me a lot about allocation. It's very important, guys. You got to make sure you're
allocating right. You don't want to blow up your account with one trade. So you got to make sure
that you're taking a certain percentage like like what Ben said, how much are
you willing to lose? That's a good question. Not how much are you willing to make? Because you don't
know if you're going to make anything, but you, it's a very good possibility. You could lose what
you're putting in there. So you might want to think of it that way. And it might put you in
a perspective of what you want to actually gamble, I'll say, or risk on a certain trade.
So I think that was a really good thing that Bennett said right there.
And yeah, allocation is very important.
But yeah, I look at the market daily, so I'm breaking it down.
And I'm always just saying, hey, you know what the market wants to do today.
Let's see what the Q's, the SPY, obviously, IWM, small cap show, and all of them.
Get an idea of the macro, what's happening in the market, what's going on,
and look at all the charts.
And then I try to just filter through and pick out the best opportunities.
If they don't go my way, I get out of them for a loss.
I talk about it all the time.
And you're never going to be able to pick 100%.
I wish I could.
I wish I could trade better, to be honest with you.
Sometimes you can analyze the market honest with you sometimes you can
analyze the market a lot better than you can actually trade it and that's another thing i
guess that you have to uh put in perspective for risk as well because sometimes you know exactly
what you're going to do but it doesn't happen in the exact time frame so if you're playing options
the risk is on the table do you want to extend them options for a later um
the risk is on the table do you want to extend them options for a later um
expiration date and things of that nature so you got to process a lot of things
while you're on the uh move and it all moves so fast so i think you always have to have a game
plan in play and just kind of stick to it and i think that's the best uh best risk um you know
the advert and risk is sticking to your game plan.
I think once you go off of your game plan, that's when things usually go down the bad road.
And take a left or a right turn that you don't want to go down.
So stick to your game plan, but always have one going in.
I think that'll help your risk management a lot more.
So that's what I have to offer for that.
I really appreciate that too, as well. And definitely I can say myself too, I have learned
quite a bit just listening to Ben from Story Trading and Emp. And normally when they're
going back and forth, before I started helping with the little panel here, I've been just listening.
And I can definitely say having great people in your circle, just listening to smarter
people and yourself and admitting that you don't know everything is probably the smartest thing
you could possibly do. And I really appreciate everyone that's in here. Highly recommend that
you follow, of course, Story Trading, Dougie Fresh, Laptop Travel, and everyone that comes
on these panels. But pass it back to you, Ben. Anything you guys are working on that you want
us to check out, a few minutes left here, but some closing back to you, Ben. Anything you guys are working on that you want us to check out?
A few minutes left here, but some closing thoughts and, of course, highlight anything
that you have coming up. I'd love
to hear that.
Well, you know,
sometimes I would have
a lot to say to that. Right now,
like back in December, I mean, we had
so much stuff we're working on for stock picks of the year and January effect picks.
Right now, I don't have much going on, man.
I am really pulling back, like I said, and I'm being much more selective.
I think it's time.
I think it's a good time to – that's my closing words is I think it's a good time to be cautious. And I'll say this, I'll leave you with this. If we do have a catalyst related
to Iran that causes the QQQ to go to the 200 DMA or even below, right? You wake up, overnight there's some action,
and we're down 3% or something pre-market.
If that transpires, I would jump all over that.
And I'm not going to get into all the reasons why right here,
but I have theses, fundamental theses, psychological theses,
and all kinds of other reasons and historical
precedent why that's the right thing to do. So right now, I'm just pulled back, very risk-averse,
high cash positions, especially end-of-day cash positions, and I'm waiting to see how this Iran
thing resolves because I think there's a high chance we can get into some of our favorite
stocks at really good prices soon.
And we all love really good prices.
Now, last thoughts, anything to leave us with there, laptop travel?
Yeah, I think no matter what, you have to think about every single day, there are stocks that go up. So there are plays to be made.
And, you know, time and fortune rewards those who are prepared, who do their homework, study for the test.
But at the same time, don't be afraid to admit you make a mistake and walk away.
I have probably gone to cash more in the last 12 months, all cash positions,
than I probably have in my entire career of trading.
And that's a long, long, long time.
So, yeah, I still want to say, you know, I keep pounding on the table about power and energy.
And that's not going to go away.
You know, find some good things there.
My daughter, who is like a savant with stocks, and I mean that really, she's amazing.
One of her biggest picks, two of her biggest picks has been Caterpillar and John Deere.
One of her biggest picks, two of her biggest picks has been Caterpillar and John Deere.
And so I will leave you with, you know, look at power because energy is going to be needed.
And then these highly needed industrial infrastructure, America first, you know, high capex companies.
I know it's a small cap show, but Caterpillar looks good, really good.
And I hear they're doing some amazing things with, if you can imagine it,
AI with their industrial equipment.
So I'll leave you with that.
Great stuff there.
Of course, everyone's integrating tech into no matter how mechanical
you think the company is, tech is in there. And of course with AI, but last my friend,
Dougie Fresh, any closing words as we're heading out of here?
No, I would just say every day is a good opportunity in the market. You just got to
really scan through, see what's going on as everybody was mentioning. And yeah, I just got to really scan through, see what's going on, as everybody was mentioning. And yeah, you just got to pick them out and then obviously trade them smart.
You can pick all the 100 percenters you really want to.
But if you don't trade them smart, what good are they?
So really focus on trying to trade them smart, lock in on a select like really, you know, the quality ones.
quality ones. It's not about quantity. It's about quality. And obviously, you know, just getting
It's not about quantity. It's about quality.
your profits and locking them in and not always thinking that it's going to go a hundred times.
And I think people get that in their mindset that, you know, you see a stock run like crazy
and then you think that they all can do it. And then sometimes they just are, you know,
they just happen. They get piled into and, you know, they get short squeezed and it happens.
And you can't think that every stock's going to do it.
So you have to stick to that game plan, lock in your profits, trade smart.
And that's how you do it.
And I don't know that Ariel is Ariel still there.
I'm not even sure.
But I was just going to see if he had anything.
Yeah, I fell off the stage a while back.
Yeah, it's just one of those days.
But yeah, appreciate you and everyone that has
tuned in with us. Those of you that are wondering, like, he's this weird voice that's on the
microphone. It is Taj filling in for Ryan, aka M. He's over on Wolf Trading right now.
Livestream is going. And later, they're going to be here with stocks on spaces. There's going to
be stock picks of the week towards the end of the day and a chat with some guys from RecShares. So if you're into all sorts of things as far as
investing, whether it be short term, day trading, all that stuff, there is a show.
There is someone for you to follow. Check out all the amazing things that's happening within
this ecosystem and all these people that we have on stage. Always great to follow. It is fun.
And if nothing else, I can say hanging out with smarter
people than myself. I learn a lot and I really appreciate every single one of you. So hopefully
you all have a wonderful, wonderful day.
