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STOCK MARKET TALK
Recorded: June 26, 2025 Duration: 2:12:42Space Recording
Full Transcription
Thank you. All right. All right. What is up, everybody? Day two, me behind the account. Let's hope and pray
I don't click a link again and end this spaces a little bit earlier. But Merry New All-Time High
Day. Merry New All-Time High Close Day on SPY.
We'll see if it ends up doing there, but currently it is on pace to close at the highest level it
has ever done. Obviously, some good names working underneath, some mega cap names not really working,
Apple not participating still, Google, you know, it turned around a little bit today, but overall
not as good as some of these other names. It's definitely a green day as I'm looking through a majority of my portfolio.
Q's up about 1%.
VOO up about 0.7% there.
That is what I'm seeing.
Google up 1.4%.
Microsoft up 1%.
Amazon up 2.4% at 217%.
I know Jeff Bezos, we've joked around about him selling.
He did file that he's planning to sell more shares.
I wanted to see when Jeff Bezos is going to be selling some more shares of Amazon.
We're above that 200 level, which was the psych level last time for him selling.
There's a couple names that hit new all-time highs again today.
JP Morgan was one of them, which I was just looking at there, and it made me go look at
the list.
Broadcom's down on here.
CrowdStrike, Goldman Sachs.
Someone mentioned that yesterday.
It might have been Prospero and George.
Someone was talking about Goldman Sachs.
It's right there.
JP Morgan.
Microsoft.
Netflix.
NVIDIA.
Palantir.
Deep Breath.
Rocket Lab.
Shake Shack.
Spotify.
There's a couple interesting names on here.
Some really big ones.
Some ones that people just on these spaces go in and watch on this all-time high list.
So green.
Meta's having a nice move.
2.5% up there.
There is some more AI news around that one.
I might have bought another share of Meta just here today.
They also had a news around solar power, which we can maybe talk about a little later on.
I know some people might not necessarily believe in it.
Maybe it was wind or something.
We'll talk, but I see we got my
friend options, Mike, up here. How you doing, Mike?
Hey, Evan.
How you doing, buddy?
I am doing well. I'm doing well.
Like I said, Green, I closed out...
I'm not a trader.
I haven't been doing well, but I had a good trade on this one, on
Marvell, which paid me out, so...
Nice.
What have you been watching um what have i done today i um what do i do i have to go look at my notes i have
to go back to my trade line hang on so what i do i try to trade jp morgan in the open got stopped
out for 30 buck gain yes i know not very exciting it was not good but then i had a 60 cent win on coin l
trading coin then i had on meta options i traded twice i made about 1800 bucks and then spxl i'm
sitting in now for the moves of the all-time high uh i feel like i come on here every day
and i say we're going to all-time highs and I feel like I just keep repeating myself
for the last I don't know three weeks four weeks pick a number um but here we are the cues have
been at it since yesterday the spy is like uh got a dollar and one cent from it and the market
continues to be strong and so you know I just look for momentum. Why Meta today? Well, in Meta, you had the news of the OpenAI theft, because it was not, you know, that was theft.
You plus had a price target upgrade, and it was just one of the stronger names.
Microsoft, new all-time high.
Netflix, new all-time high.
Palantir, new all-time highs.
Coins at a, what, four-year high, three-year high?
I don't know.
Pick a number.
I don't know exactly what.
NVIDIA, new all-time highs. This market has so much strength under the covers.
It's very name-specific, though.
I hear people saying, well, it's a problem. There's problems in this market.
I'm not going to argue with you. There's this whole thing going on with bonds, which is not quite right.
There's this dollar that's weakening like mad, which is not quite right this is dollar that's weakening like mad which is not quite right
but you know don't fight the tape 700 trillion seven trillion that's seven trillion on the
sidelines looking to that's not in the market that money's looking for a home you know people
hate sitting in cash cash doesn't pay uh rocket lab was that new all-time high today on that one too, I believe.
Google had a nice bounce.
I don't know what to say anymore.
I love coming on here and I will continue to do it without even a second thought.
But I'm not looking for shorts right now.
Not yet.
Not here.
Even though Tesla remains weak, I'm still not shorting it.
I'd rather look for the longs, and the longs
are everywhere. Even Amazon,
a huge bounce back today. You were mentioning
Bezos may be looking to sell more shares.
Market doesn't care.
NVIDIA, Jensen just sold
$800 million worth of stock.
Market didn't care.
Oh, one thing
to talk about.
Kevin was pointing this out yesterday.
The VIX, it was a little earlier yesterday, or actually just now,
but this is at levels, at the lowest level since February.
So if you did want to hedge, now is a cheaper time to do it
than sometimes have been recently.
But yeah, it definitely feels pretty strong here to the upside.
Anything you've thrown at this market, it has taken it and obviously you know I'm an Apple proponent here watch
out for that move from 200 to 250 if the market stays like this as we go into
the you know August September iPhone hype you need a catalyst my friend I
know you're in Europe September 9th that's not gonna do it that's not does
it every year it's gonna do it well That's not going to do it. It does it every year.
It's going to do it.
It doesn't mean it's going to run after it.
We're going to watch Apple.
It's not going to move at 25%.
That's a huge move on a, just a refresh of the technology.
I mean, the last three or four years or maybe even five plus, the iPhone cycle has been.
Oh, God, yeah.
It's the best, the fastest.
I mean, that's Tim Cook ever.
But there's no excitement in it.
I mean, why would you upgrade to a no iPhone?
What are you going to get out of it unless you're four or five, six years old?
What are you going to get? Doesn't mean in a bull market stock that's falling behind
really exciting event multi-hundred billion dollar revenue product give them a reason to speculate
they will the ai is the reason to speculate and if they do something big that might be the reason but
the iphone don't think so i i just don't think that's that's a mover at this point anymore Apple 250 I know I said mid to late September I
might just have to buy a call okay Wolfie I know logical sorry Wolfie after
logical you're up here next I appreciate that I am ecstatic because I am headed for my highest all-time high close
ever for my portfolio. I'm just over the moon because I was in a pretty bad drawdown.
So I basically hit 50% two weeks ago on June 11th, and I felt really good that day. And as good as I felt,
it basically marked the top for my portfolio. And I sunk like 15%. And just in the last like
three days or so, my portfolio has ripped back to new highs and I am just feeling fantastic.
So very happy day for me. It'll be my highest daily close ever on my portfolio value.
A lot of winners.
I mean, where do I begin?
This is just such a great market.
I mean, what do we talk about?
Like, you know, there was the end to the war, which is obviously good because, you know,
inflation gets tame again.
No oil prices spiking.
Generally, you don't like geopolitics and uncertainty.
You don't like the U.S. involvement.
So I was already a good sign.
And the day after the war, you know, we had the ceasefire.
You know, markets had a trend day to the upside.
You had QQQ hit new all-time highs.
Now we're a dollar below all-time highs on SPY.
And then you get comments today. Well, so let's back it up, right? So,
cool. Inflation is not going to spike up again due to oil or any geopolitical tension. Great.
Well, we need rate cuts, right? And so what do you get today? You get GDP for Q1 is actually
weaker than we had estimated before.
I think market like that.
Tomorrow we get PCE, which can be another potential tailwind.
And we already know a lot of the components of PCE,
so it shouldn't be an upside surprise at all.
You know, I think the general theme has been the Fed is late.
And, you know, now you're getting, if you look at the CME Fed watch tool and we had zero percent chance of rate cuts in uh july i don't know what it's up to right now but it was let me check it was like
20 yesterday here let me just check real quick pulling it up the rate cut odds are still at 20
for uh july but there's a 20 chance of two cuts by the September, 76% chance of a cut by
September. So I think what's really great in a market to pay attention from what happened last
year was that when everyone was on one side of the boat of like, again, you have to fade the
narratives. It's like a pendulum that swings from one side to the other. You know, are we doing the
inflate, the reflation scare or are we doing the growth scare?
And just lately, it was the reflation scare and inflation definitely looks dead.
Obviously, people are going to argue with me.
Well, this is going to happen.
It's like, all right, cool.
Yeah, but we're kind of over it now, right?
We're getting closer to 2%.
And now we're headed back towards the not necessarily growth scare, but we're definitely
at a slower growth than anticipated.
I hate to call it, but it's a Goldilocks scenario.
And this is what you get right now is this per,
I mean, I hate to say it, it's a soft landing.
So, you know, everything just looks great.
And then you get the White House today,
the last uncertainty for rate cuts, right?
Everything in the Fed speech from J-PAL was, oh, well, you know, the tariffs raise uncertainty around inflation and pricing jumps, et cetera, et cetera.
And then the White House comes out today and says, eh, the July 9th date, which by the
way, we talked about constantly as being like, hey, this is a timeline.
It's really, it's coming up pretty soon.
And, you know, they come out and say, you know what, the July 9th date is really not that critical.
So, you know, they're trying to downplay the tariffs, walk back some of the trade war talks.
Then you get European Union to come out and say, planning to lower the tariffs against the US.
I mean, I don't know what you're doing at this point
if you're still trying to fight this tape.
It just looks great.
And yes, there are zero revenue shitcos going to the upside,
but valuation is not a bear case.
It's not what ends a bull market.
You should know that by now.
We are headed into a rate-cutting cycle.
We are in one, but we're going to continue it now. And here's my thought for when I get bearish or
bullish. I will get bearish when there are no opportunities in the market. And I've said it
constantly on these spaces. I think that the opportunities, you know, I talked to a lot of
people out here who invest and they, you know, they tell to a lot of people on here who invest and they,
you know, they tell me, yeah, but I don't know where to allocate money to right now.
I don't know what to buy right now. Everything looks overextended. Yes. If you focus on the
same 40 stocks that every single person focuses on, I hear you. I don't want to buy a lot of
these stocks. I don't want to buy Palantir at $140. I don't want to buy Robinhood at $85,
even though that probably will still work from here. I don't want to buy Rocket Lab at $36. I don't see the fundamental
valuation to support higher prices in a lot of those names, but I do see a lot of opportunity
in this market. So until we get to a point where there is no deals on the market, I'm letting the
fundamentals guide me at this point, because I don't think
that the macro backdrop is enough to roll this market over. If anything, it's going to propel
this market higher because there's, in my view, a lot of obstacles being removed to the upside at
this point. So yeah, I just, I'm extremely long. I'm the longest I've ever been. And maybe that'll be a mistake,
but I really don't think so. You have the mid-cap ETF curling below the 200-day. You have the IWM,
the small caps, curling below the 200-day. You know me, I'm all about small and mid-caps. So I
would love to see them get involved. And this idea of rate cut probabilities increasing means that there will be
a positive sentiment shift towards small and mid caps, which is really what you need. A lot of
times people don't realize that the most important thing in the market is sentiment. If people want
to own something, then that's what's going to take the prices from the gutter basement valuations.
going to take the prices from the gutter basement valuations. Nobody cares if your stock is cheap,
but if the sentiment begins to inflect to own those stocks, then all of a sudden,
as sentiment inflects more positively, I think that the reason why these stocks are so cheap is
it's reflecting the negative sentiment around the sectors that we're talking about, the smalls, etc.
And I think that now with a rate cut backdrop, you have potentially people warming up to the idea of small and mid caps.
And that alone can take these valuations from where they are today to 50 to 100% upside in a lot of cases, I think.
Can I jump in?
Yeah, go ahead.
Big news here
uber is in talks to take over pony AI big spike on both I actually don't know
wait pony AI what is that pony is a autonomous driving China AI company
gotcha and I had a company with a foothold in the Middle East interesting
very good to know.
Obviously, we had some other big news today with CoreWeave in talks to buy Core Scientific.
That stock popped.
And I think that we're getting a lot of sympathy in names like Iron, Galaxy, some other Bitcoin miners.
Yeah, it kind of makes sense.
That stock was extremely, me and Stocks are talking about it, but it's an extremely annoying stock to trade c-o-r-z um and yeah i didn't get to hold on to it for this
news it lost the 21 ema i got shaken out that's the classic story isn't it um but anyways i wanted
to talk about you know the things that are doing exceptionally well i mean look at iwm just popping
towards the highs of the day today even if it's's light volume, that's also not a bear case. We're in the summer
months. Get ready for lighter volume. So, you know, Iron up 11%, Galaxy Digital up 6%,
DG Power X, DGXX is a micro cap that I've talked about, has a partnership with SMCI and Nanonuclear up 10%.
Serve Robotics up 12%.
A lot of names just kind of went from red to green as well, like Personalis, PSNL, that's
the baby Tempest AI company, up 5% now towards high of day.
InnoViz Technologies, which is another uh autonomous driving uh company i've talked about it uh doing
a basket approach with aip orders uh which is up like 10 in the beginning of the day but faded
but inoviz invz is up 15 on the day now this is why i always talk about doing basket approaches
if you don't know which one you want to own.
And that way, you know, whichever ends up winning, you end up winning.
So that's nice to see.
Another one that's in the autonomous small cap driving place.
It's a Valens Semiconductor is the name that we found from Mystic in our Discord.
VLN up 11% today.
CRNC Serence, that's up 4%% today techogen up another 8.5% today air test systems
up 10% today that's small cap semi lending club up 3% I mean like it's just non-stop I mean today
is an insane day it's the follow-through. It's what bulls were looking for.
My portfolio is up 4.6% today.
I can't believe it.
And the funny thing is, it really started picking up throughout the day.
It's not like it started like this.
I was up maybe 1% in the morning and the market is just getting, I think they're waking up
to the bullish sentiment now.
And it's the bulls waking up and it's the bears waking up.
And you're a dollar from all time highs.
There's typically not bearish.
You know, I think it was Medfavor who maybe a year or two ago, this study where it's like, if you buy within 5% of an all-time high, you typically have terrific results.
So, and, you know, people say, oh, well, we just, you know, rallied 25% from the lows.
Yeah, but we're flat on a six-month basis.
So all we've done is sideways chop for the last six months.
Yes, there are some of us who captured those moves from the bottom.
But if you just kind of held your positions,
I mean, the S&P is more or less flat on the year.
It's not a crazy year so far.
It's just that if you caught some of these higher
beta names after they collapse yes you're gonna see big upside um and you know this is something
that i was talking about is you know how i mentioned isn't it isn't it teaching yourself
to buy dips like we had and not be afraid to buy when you're down that far and start taking some
chances because that's what you know i was having everybody i'm like i'm buying i was buying that first big day we started coming
up i started buying like mad i mean you have to train yourself for that i i hear you um it was
scary times though so i don't blame anyone but there were a lot of times you could have gotten
long along the way like when we had yes yeah sorry now everybody wants to buy here like everybody's
likes to want to buy here like this everybody likes to want to buy here.
Like this is not the time to buy.
Like I don't see a lot of things I want to buy up here.
See, that's exactly what I was saying earlier though.
I think that most people focus on, especially traders, because they're looking for high liquidity kind of stocks, the larger caps, mid caps and above for sure.
And specifically the names that have been working so well. And I understand that people think, well, I don't want to buy these stocks that are up 10x
in like three years. I agree with you. I don't own any of those stocks. I never have. I never will.
And what I'm trying to say is that, again, the mid cap index and the small cap index are both
curling under the 200 day. Those parts of the market have yet to even get fully
involved. I mean, while the Qs and S&P are actually at these all-time high levels, it's only about 35%
of stocks underlying in those indices are actually above their 200 date. There are still many,
many stocks that have not really participated in this rally.
I get it. I know you're a small cap guy. I'm good with this rally. I get it.
I know you're a small cap guy.
I'm good with the idea.
Okay, Apple.
But I mean, like the money right now
is in these big cap tech names and semis
and some of these software names.
It's in the select names
and some of these crypto names like Coinhood.
Until they actually start cutting,
I think the IWm in small caps are a
dangerous play i mean i've been saying that for a while i understand it and they could ultimately
be the best winners for the rest of the year i don't disagree but i don't think they're going
to cut to september i don't think we're getting it so i don't think we're getting a july cut and
there's no august meeting because that's the jackson hole event i just posted something on
this and i've been saying this for a while and it happened exactly last year the same exact way. When we ended up
getting that cut last time, it ended up being a sell the news event. I think that you buy the
rumor of rate cuts and you sell the news of the cut itself. So I think that as we begin to price
in the rate cut, the market is already looking ahead to that rate cut.
So I think that it could potentially be the phase for these smalls and mids to start launching from
here before that rate cut happens. And I generally agree with, you know, buy the rumor, sell the news.
I agree with you on that. I mean, in general, that's how the market works.
Yeah. And again, yeah. So look, I get it.
I just think it depends on where you focus.
And I think that again, it's gonna be a great year
if you're a stock picker.
That's what it comes down to.
And look, you know, you mentioned a lot of these stocks
are so strong and you don't wanna buy them here.
What I'll tell you is you could just go look,
I just posted my performance chart for my brokerage.
I do this all the time. I had a two week so I topped in on June 11 and over the next
week or so my performance dipped 15 to 20 percent and the market stayed it consolidated that's
because the underlying stocks were actually pulling back.
I actually think that we already had a stealth pullback underlying the indices.
The indices are a very interesting thing because there's a weakness there.
Well, in what names, though?
I mean, the one thing, if you were to ask me, by the way, I love these conversations when we can sit here and debate and go back and forth.
Like, to me, there are a handful of names that are running this market.
And everything else is kind of just along for the ride
in trading with the market.
And that's where your pullback's been.
But, you know, Coin hasn't had a pullback.
Hood hasn't had a pullback.
Palantir, Microsoft, NVIDIA, A&D lately, right?
You understand my point.
Like, Meta is running rampant now the
pullback is in names that they don't want and i think your point is well taken i don't i don't
disagree with you that you had this pullback and everything else oracle hasn't had a pullback snow
hasn't had a pullback this is a very you have a market that is you said it best it's it's a
stock pickers market but they're staying with the same basic name just rotating around them.
They're not really being creative.
Let me push back, though.
I mean, Snowflake didn't get a pullback.
I mean, we just got the breakout.
If you look on a two-year basis, Snowflake is up 30%.
Oh, I'm wearing Snowflake since earnings day.
I bought it right in the morning that morning.
Look, I mean, that thing has been in a stage one base since 2022.
This thing has not actually done anything except base around for the last three years.
So, you know, again, that's where I think it's about Stockmaker's Market.
Like, this company has had three years to grow into its valuation and prove itself.
And now we're at those same prices, but the revenues have accelerated,
the profit margins have expanded. And I think that's where we're at with a lot of small and
mid caps is that these stocks have basically gone nowhere for three years. And if we get that
broader participation in the rally, it's a lot of those names. Like, I mean, I could point to
like a hundred stocks that I look at that are still in stage one
basis and haven't even broken out the stage two uptrends.
And I don't think that in this bull market, if it is to continue, which I believe it will,
I don't believe that they will remain in stage one basis.
Like I can point out to you, Amplitude, go look up the weekly chart on Amplitude, A-M-P-L,
which is, you know, being named as one of like the top small cap software picks at B of A
recently, you know, that thing is getting volume just now towards the right side of that stage one
base. And it's just now starting to push towards the highs of that range of the stage one base.
I mean, there's a lot of these names that are getting accumulation volume and have yet to
break out. So I'm still looking for the breakout, to be honest.
But again, I'm not focusing on the OCLOs, the IONQs, and the Robinhoods personally.
Dude, thank you so much for the debate and conversation.
Appreciate it.
Thanks, Mike.
Appreciate you.
Wolf, you got any thoughts you want to add into that conversation
or what you're watching today?
I'm trying to pick and choose my words.
I think when you get systematic reactions like we had this year,
you get a lot of different moving parts at the same time.
It becomes a market that just gives a little bit for everybody. So if you're like a macro guy,
you can take a look at the spread between the US and the Japanese 10-year, for example.
And it signals a correlation that only gets this extreme in
negative extremes. The last time it was this extreme was like May of 2008. If you look at
assets, liquidity, and credit facilities, particularly loans, this liquidity that the
Fed just kind of pumps in the market, where it, you know, pumps of pumps in the market where it you know pumps of liquidity and in the system
basically on on par with 07 to 08 so there are and then there's like you know take a look at
the dollar anytime anytime historically you've had some sort of crisis the dollar functions as a safe
haven this is like the first time in a long time that's not the case
a lot of times people are a lot of times people make arguments about why or you know maybe it's
just a temporary thing but when you look second order of those types of things um you know the
ratio of like yen to euro for example is accelerating versus yen to dollar so just
i'm getting too wonky here but um i say i'd say that like i think there's a little bit of stress
uh under under the surface it doesn't mean that you go out and you get in front of
a a train and you and you become a hero but i do think that it does give you a little bit of uh cause for pause and and the real
the real point behind that in my opinion is when we were going into this year people expected like
five six seven cuts depending on who who you asked um i think now people are saying maybe we get two
i think goldman came out yesterday and said we get seven or six,
something like that for next year.
I think that, you know, the logic of saying Europe is cutting
and we're not cutting is a little bit backwards,
given that their currency is actually deflating
and our currency is inflatinglating and our our currencies
inflate or vice versa excuse me um which causes inflation on our end and causes deflation on their
end and so they kind of have like a functional reason to do it also they were late to doing
the cut stuff we were ahead of the game so I think um I you know, I'm not going to sit here and tell you whether I think
Owl and company will actually, but or not, but I do think that if they were to cut ahead of,
like, a material data point saying that we are actually a 2% inflation, I think that the bond,
the bond stuff kind of would perk back up. That's just an opinion. And that just kind of makes for, in my opinion,
just trying to buy idiosyncratic stuff or things with strong balance sheets, trading secular
trades, trading thematic trades, et cetera. And that's just kind of how I've been doing it for,
I think, what is it, like two months now, a month and a half now the S&P was whenever it got up above the 200
day like if if you're one of these people that wants to have a million positions and you can
manage it good for you like that's not that's not how I how I operate I try to be a little bit more
selective because I like try to be a little bit more concentrated um but I do think that you
up here I kind of agree with Mike like when we were in the throes of April it would
and it was like kind of difficult to get unanimous not kind of I don't think any I don't think anybody
myself included said we were going to have all-time highs right so um I think now when we're at all
time highs I think if you were to ask people the inverse of that, like, do you potentially see some sort of revisit of the lows?
I don't think anybody will say that that's the case.
I mean, not anybody, but I think universally across the board, most people will say that that's not the case.
And I think that, you know, outside of just we're just going to print and pump,
at some point you typically get some sort of resets on the back of this stuff.
Now that said, I think Mike's right, I think he nailed it,
that they are kind of rotating, you know, from sector to sector, name to name,
and they're not really moving them all in conjunction.
They're kind of, you know,
moving Meta, Microsoft for a couple weeks.
Then they go revisit Amazon and Google,
for example, right?
And I think from that perspective,
you've got to be a little bit tactical.
I also think that when you get these moves where...
Are there any of those type of mega cap names
that haven't participated yet?
I mean, Apple hasn't participated all year, but Amazon recently hasn't, right?
So I bought Amazon.
I bought Amazon today.
When is Bezos selling?
That's my question.
What's the new level?
Was it 200 last time?
It's a good question.
I don't know.
But I know that they have their Prime Day event July 8th to the 11th.
Sorry to touch you off again.
I will say, I've been seeing nonstop.
It's kind of invasive, actually, but he's getting married or something today,
and I saw, like, Reuters live streaming outside the wedding venue or something,
so maybe he's distracted.
Basil's getting married today?
I think so.
I don't know.
I'm just seeing Reuters in front of it or something.
I need to stay up on the gossip, man.
I had no idea.
Good for him.
You know, but anyways, it's pressing up against that 218 level, which is effectively its breakout level.
Hasn't been able to get over that level.
By the way, it's expected to cost around $50 million, the wedding.
Man, what a life, right?
So it's a tad lower than my wedding wedding i haven't gotten married for what it's
worth but it'll be a tad lower uh or a tad higher excuse me than my wedding um but anyways 218 that
level on amazon you get a breakout it could be the next one that kind of just like gets run um
and then you know i just i think outside of that the the mid-cap names that have
stories behind them or some sort of catalyst behind-cap names that have stories behind them
or some sort of catalyst behind them or some sort of trend behind them
is where I've lived for the better part of a month and a half.
On Monday, I told you guys I was buying GitLab against 40,
stock's up by like 10% or so in a couple of days.
It had earnings that people sold it so in a couple of days. It had earnings that, you know,
people sold it off in the back of earnings.
But, you know, it's, if you're,
if you believe in the AI theme and you believe in devs
and you believe in DevOps,
like that's something that they all use
and they're going to need, right?
So that's one example.
Another one, we talked about ASTS for the longest time.
I said that I was set,
we had this entire back and forth, Evan,
where you wanted the entire model explained.
But I was saying I was selling ASTS Monday and Tuesday.
And I thought that maybe Rocket Lab could play a little bit of catch up on the back of it.
And that's kind of what has happened.
But that's basically an example, a one-to-one example of what Mike was saying, where they'll hide out in one place.
They'll go to the next one. They'll go to out in one place they'll go to the next one they'll go to the next one they'll go to the next one and for me i've been i've opted
for the boomer tech mega cap names like oracle cisco ibm versus the mag 7 names that's just been
me um i feel like those things kind of fly under the radar a little bit more um they have a little
bit of catching up to do if they get their stuff together and and i kind of like under the radar a little bit more. They have a little bit of catching up to do if
they get their stuff together. And I kind of like the fact that they're not all eyes on them every
single day where people are trying to track them. So I think that long-winded explanation is this
market is a little bit for everybody. I don't think that you want to get in front of a train. I think that we have that July 9 tariff date that everybody's circled.
Taco's probably going to taco, probably kick the can,
probably just make some stuff up, keep it going a little bit longer.
Seasonality perspective, September's typically the worst month
or one of the worst months in the market.
So kind of lines up, kind of a little a little summer doldrums
um you know positioning is is uh is favorable for the bulls and then from there i think if we were
to get some sort of sell-off outside of any you know again outside of any like catalyst driven
sell-off uh i think we could see a little bit of a similar thing like 2022,
where you had a protracted sell-off that kind of just was destroying deltas along the way,
where it just kind of like slow and steady sold. It didn't really give you that really big spike
in the VIX. And I say that because earlier in the year, we had something that spiked the VIX.
And I think there's a lot of positioning in the vix on the back of that when people thought that um we were
going to revisit and and the paint trade i think becomes you know for let's say late august into
late october paint trade would be you know just a mean reversion sell off to the uh to
Just a mean reversion sell-off to the downside for some profit-taking and then no real spike in the VIX so that the people who are offsides in VIX positioning can kind of get crushed as well.
So that's handles it.
Because I feel like if he does something crazy, that's probably your exogenous event that I'm talking about.
If he doesn't, then we just got to wait Powell out or he'll probably name whoever he is he's going to have in Powell's stead.
stead will basically probably talk you know in the background behind powell um so that he can kind of
navigate people ahead of what what's gonna come basically and undermine him that's kind of like
the what i'm paying attention to um outside of that the one thing i will say from just i'm gonna
give you a stock here um you know i went long i went long teledoc against that 670 level earlier in the week.
There's like a little bit of a shift in their business, basically.
For the longest time, Teladoc basically was kind of like a DTC.
They asked for a cash charge.
They're laying out a new AI strategy.
They have betterment.
And it appears that they're going to change their little,
they're going to change their business model a little bit
so that they could be included in employee benefits.
And if that's the case,
and they kind of streamline their better help situation,
they could drive
50%.
They can drive that 50% of their total revenue number significantly higher because if people
can get that benefit through their employer, more people are more likely to use it instead
of having to pay out of pocket.
So that's one I'll throw in there.
And it's like a $1.5 billion market cap or $1.7 billion.
I'm not sure where it sits today.
It kind of gives you, to me, it's giving like a similar risk reward to, you know, some of these moves that we've seen in the last couple of years from some of these names where they went from single digits to like, you know, 5, 6, 7x.
So I don't know if they'll get their shit together, but against that 670 level, really kind of like it.
I like it for higher or i like it for
potentially getting uh acquired bolted on um or just the acquisition so that's it for me
i appreciate you wolfie i don't know i found this other name that no one's talked about on here as
well might fit that category it's called honeywell i don't know if you want to dig in a little deeper into that one but it's up 1.7 today no i'm just missing
small small small little company right small little company it's split enough might be might
be fun by the way also i did actually buy an apple call during this apple 230 call expiring
september 19th after the iphone event uh i bought it for $2. So I'll keep you updated.
Probably will lose money.
I'm not a good trader.
But if I do make money on it, Mike and Wolfie will never hear the end of it.
No, I think you can get paid on that.
I will accept that.
Yeah, I think you can get paid on that.
It's possible.
Listen, I don't think Apple's going to fall apart.
I just don't think it's the place to be putting your money at the moment they need a catalyst and until
they get it yeah no I know trainer you probably want to wait for it but if this
if this bull market continues it's probably gonna continue to broaden out
and you don't here's the problem I hear all the time is Apple needs to
participate for the market to go.
Well, the Q's hit an all-time high, and Apple has not participated for the last how many months?
Apple is no longer a big part of the markets.
I mean, it is, but it isn't.
It just doesn't drive the markets.
It's a big part of the market, but it's not a big part of the market driver.
Evan, I think you're going to get paid on that.
I think you can see a move to $220, $223. That's get paid on that. I think you can see a move to 220, 223.
That's 200-day. I think you can see a mean reversion
higher. I think that's the pain trade.
And I think there's hype going into
the... We're not yet at that point, but
give it towards the end of next month.
We'll see. We'll see.
So I just want
to be on record. I don't dislike the trade.
Alright, so I'll just talk shit to
Mike. And you can talk shit to me if it doesn't work that's fine
i'll take that i'm good with that i can take it as well as i give it up let's do this 2 30
september 19th two dollars is what i got in at so i mean here's my question if it drops down to 180
is that is that a bust then for you no it's like if I hold this and if- Oh, I see.
It has only if you get to your spot is it good
because you're going to sit through all that pain
down to 20 bucks plus below here.
At one cent, I'm just going to be at the point of
what's the point of selling at this point is for content.
So if we come back up, it's there.
So anytime-
So basically this is all loaded into your way.
Got it, got it, got it.
To be fair, if we're at 240, I'm probably not selling either.
And if we go back down to 220, I'll probably lose all my money, which has happened.
Look, from a technical perspective, it's pressed right up against the downtrend that it started.
Oh, it's been fighting it for days now.
It's just went sideways through it.
Sideways through it.
100%.
100%.
It took a last three months on this name.
Well, I'm just saying, if you go draw a line from April 2nd,
which is the day before it fell apart,
and then you can dot that line at the Friday, May 16, and dot it till now.
You're basically right at the inflection point.
So the next couple of days, we should find out.
Yep.
But here's my problem.
When you have a downtrend and you don't break it you go through
it sideways i don't find those to be really good downtrend breaks you know what i mean technically
oh the one i'm looking at it's right up against and it hasn't gone sideways yeah i agree with you
mike the one i'm looking at doesn't doesn't look like it's it's gone sideways through it so if it
goes i agree with you i have mine drawn just just so we're all clear i'm not you know
I have mine drawn just so we're all clear.
Again, everybody, we all draw our charts.
I'm not giving anybody a hard time.
I drew it from 225, and I drew it down connecting back here through 6.9,
and then the last candle on 6.20.
So that's what it goes through.
That's my three connections right there.
And we kind of just went sideways
through it and that to me is like okay so you can make the case that you can push you can push it to
the new spot i understand that i do redraw my lines as well but i'm still using that right now
because that was the three connection points for me yeah i used that i used that um april 2nd high
and then it was basically 13th through 16th of May and then now we're up against
it again yeah we haven't drawn slightly different either way it's just kind of sitting here like yeah
whatever
I don't need to keep prodding on the Apple topic
a couple of stories today but stock talk
what's what's going on in your world any analyst reports um i should do a lot of stuff today i do
a lot of um day trading around that core scientific news with these um or we sympathize
is that core we're trying to buy a Bitcoin miner?
Hit some iron calls.
So that was CoreWeave trying to buy a Bitcoin miner?
Is that really just a player of the GPUs?
You want to know something hilarious?
You want to know something hilarious?
We talk a lot about wins here.
You want to know how hilarious this is?
So, I was in
Core Scientific.
The name that went up 30% today, three days ago.
And I had sold it three days ago.
I was laughing so hard when the PR hit because people in my Discord were like laughing at me too.
It was hilarious.
They're just like, oh my God, dude, you just sold this.
It had a nasty wick candle on Monday.
And, you know, it's funny.
I just did a workshop. Like, I'm literally laughing at this. This is like self-deprecating
humor. But I had a workshop on this like last weekend about like how not to get shaken out
of trades and stuff. And then I just get shaken out of a trade this week. So it was like so,
of a trade this week. So it was like, so what's the phrase for that? Like, so poetic. Yeah.
But anyway, I had a nasty candle a couple of days ago. And I was like, oh, I'm going to get out. It
was like the only thing in my portfolio that wasn't performing that day. So I was like, I'm
going to get out. And then naturally this news comes out today. So, you know, it goes to show
that no matter how much experience you have, no matter how many stocks you trade over and over again, sometimes you're going to get out of something right before it runs.
Sometimes you're going to sell something right before it goes higher.
That kind of stuff's part of the game.
But it was just like a really, really funny example of that.
I was kind of irritated at first and then I just laughed because, you know, it happens all the time.
But, yeah, that was a funny thing from today but we did i did it some really nice day trades and sympathy to it so i guess that's a glass half wool what is that what does that play
from core weave is it to get like gpus and stuff because i know they yeah it's basically like
there's there's been a lot of people for a long time that have been talking about this idea that all the companies that went public around Bitcoin mining thematic four or five years ago have alternative value now because they have compute.
That can be repurposed or rented out or etc. etc. et cetera, refinancialized in some way with the
AI thematic.
And under that presumption, those assets should be trading at AI multiples like they are in
the data center thematic.
And so, you know, it was only a matter of time before some kind of buyout sets the marker
here.
And these stocks, all the charts, to be frank, coming into today,
all looked great, but they were like kind of choppy, consolidating. That's what that's what
Coors was like. I, I quote tweeted one of my tweets, but I like tweeted Coors chart like a
couple of weeks ago. I don't tweet many charts out, but tweet a couple of weeks ago, I was just
talking about the setup and it was a beautiful chart, but it wanted to just play you know relative the relative
weakness game while the rest of the market was running um and that's by design you know that's
by design to sort of make people sort of get exhausted with it or move on to other opportunities
and then you know they get a big pr like the one today and the whole sector runs which is what
happened today um but usually there's not there's an opportunity to get a really nice trade in
even after these moments happen.
I hit the Iron 13 calls basically right after it happened,
and that thing ended up ripping into the end of the day.
It's now trading well into the 13.
So got a really nice cushion on those.
Hit some Galaxy Lottos that went up 100 percent um so that was
nice as well serve robotics that was a great play today um and so there's a bunch there's a bunch of
great day trades today and i usually don't day trade much like i usually don't send out multiple
alerts in a day for the people that are in my community. Like I'm a swing trader primarily.
So my alerts are usually few and far between, but today there was a lot of action and you
know, it's hard when you're trying to trade and then write, write out the alerts.
It's hard to do that sometimes, but, um, yeah, it was, it was a fun day from that standpoint.
There was actually some crazy stuff happened today.
So two of my stocks had crazy dips
off the open that got bought up right away indie semiconductor which i talked about here yesterday
uh it had a gap fill this morning right off the open i was ready to talk shit i was ready
touch touch the 200 day moving average and then got bought up all the way like within 20 minutes
and i was like dude that was an incredible perfect test it
almost tested the 200 day moving average to the penny um when i was talking about it yesterday
i was like hey for those that didn't get in today you might want to look for a 200 day retest
there were a bunch of people in our in my server who said they caught that dip so that was awesome
um and centrist energy which has been a horse for me for a long time.
We got it in 96 a month ago.
I've been talking about that stock a bunch.
They had a report from JP Morgan this morning who came out neutral on the stock.
That stock dove 15% off the open, also got bought up.
So that was awesome to see.
You like to see that.
You don't want to see big dips like that just sit because it opens up a lot of
risk on, on the chart. So that was really cool to see on both of those names. Um,
Spear made a really nice move today. We got into that a couple of days ago on that Craig Hallam
$75 price target. Uh, that stock's 31% short. I mean, at some point it's going to have a crazy day
with the way the charts building, um, and the short interest is building. I've traded this one a bunch. It usually works out as a trade.
So every time it's setting up for me, I hit it. But it's confirming the 200-day breakout today.
Nice move up to the upside from there. Like I said, still very high short interest.
And then what else was I going to touch on? Uh, Oh, genius.
Okay. How can I forget about genius? Genius finally made a nice little pop out of that
consolidation in that nine to 10 area today, moving to that 10 35 spot. And, uh, I think if
it can continue to build here, it's going to look really nice. You know, sometimes you're focused on
the lower timeframes on a trade. Sometimes you're focused on the higher time frame sometimes you're looking at the daily
sometimes you're looking at the weekly monthly whatever for the setup that you're looking for
you know a genius for me i was always initially interested in the monthly and weekly setup so
i'm expecting a little bit of chop on the daily but it's building nicely today obviously a good
day for the markets which often gets the trigger going that you
need but uh it was nice to see that one finally moving to the upside today as well so obviously
a good day in the markets i hate days like today it's not like i can give a ton of insight because
most stuff was up today most stuff was green today so most people i imagine weren't struggling on a
day like today but um yeah not apple Apple. It continues to be very strong.
Sorry about Apple. I said not Apple.
I was just saying sorry.
No. Not Apple.
I was wondering why Stock Talk was going
a little lighter today. He just wanted to eat.
Came in eating before
he even's done. Honestly, you know what?
You know what I think is so underrated?
Maybe I'm just saying this because I've been, like,
trying to eat healthy the last five or six months,
but caramel rice cakes are so underrated.
I hear the crunch.
They're pretty good.
The circular ones?
Yeah.
Yeah, they're pretty good.
They just, you know, I don't eat a lot at once.
I, like, kind of graze throughout the day,
and those are good for me because it's just, like, something to, like, eat that's not that much. I don't eat a lot at once. I kind of graze throughout the day. And those are good for me because it's just like something to eat that's not that much.
I don't disagree.
We do have Nike earnings after the close.
Wolfie, I feel like I've heard you talk about Nike a little bit.
Is that what you want to watch a little?
Yeah, I watch it.
Is Nike dead?
No, I don't think it's dead, but I don't think it's ready yet.
So they've got a Skims collab.
Look, I rely on the 20-somethings here in Los Angeles
to kind of talk me into what's in, right?
And so the girls are saying some of the not as some of the nike stuff's
in but not it's not in yet right so most of most of the athleisure fad kind of went away
and they kind of faced a little bit of a problem with some of these influencers creating their own
drops um they also faced they missed the boat on the running thing hoka and on on took that chair
and so they're kind of like in this like dead spot they also don't really have you know from from the
from the basketball side they don't really have too many signature shoes that people are killing
themselves over outside of some of these um women athlete shoes so i think they're kind of like in a in a quiet
spot they have this skims collab coming from coming with nike but they they even push that
out so i think it's kind of like in one of those spots where it's a little bit of a transition
probably you know if it's gonna pick back up probably picks up starting you know late this
year or by the middle of next year.
They're in a what they call, quote, win now strategy, whatever the F that means.
But clearly it's not working as of right now.
And then I think that their stronghold on the online side,
like I don't know if anybody uses their app or their online their online stuff their online stuff's good like getting people through through their funnel into into picking
stuff putting it in the cart and then buying it it's pretty good um but i think that dicks probably
bought footlocker for you know some sort of some sort of refab of their online brand.
And then they kind of use those stores as like warehouses or dial them back and make them specialty stores.
So I don't think that it's ready right now.
You know, there's a couple of other brands
that are kind of picking up
that most people don't talk about.
So there's a company, AS, Amer Sports, I think is what it's called.
They make like hiking boots.
And the girls are telling me that the hiking boots and shoes
have been in for about a year and a half.
Take a look at that stock.
It's basically at an all-time high.
And then, you know, the on-ons, the hokas are at their tail end.
If you take a look at like the Lulu, for example,
the disconnect between something like Lulu and some of these other names,
Nike's kind of closer to the Lulu side, right?
As people, as women specifically, mostly went towards the Aloe side of things
and then some dudes went to the Viore side of things.
So I think they've got a little bit of stuff to work through i think once they you know refine their inventory bring that down
and like kind of streamline what it is that they're going to go for and once they get that
little kardashian bump on the back of the skim stuff then it could possibly be ready um but
you know going into the quarter with gross margins expecting to have significant pressure
significant pressure and with expectations kind of like oh hum i'm not trying to get in front of it
yeah there's a lot of fair points there they also have all this tariff stuff which is probably
going to be hurting them a little bit still obviously it's been known for a while
but um they're one of those companies definitely dealing with it pretty aggressively i was looking at the uh but if you
look at if you look at their competitors like sorry but let's cut you off a little bit look
at like their competitors like they're not like some of their competitors aren't really they're
going through the same stuff so like on on for example they i think 90 of their business comes
from or their manufacturing comes from i think it's vietnam i don't remember but% of their business comes from, or their manufacturing comes from,
I think it's Vietnam.
I don't remember,
but 90% of their business was from a tariff impacted country.
And just take a look at how that stock's performed.
It went right back basically to all-time highs.
Like,
I think it got to like 62 and the all-time high is like a 65,
somewhere around there.
And then it's,
it's got this like really great cup and handle set up for you know anybody who's waiting for it training back at
the 200 day and nike it got a little bit of a bounce um but you know even even the life that
they got from like akman buying it for example he sold his shares on the back of god knows what but
so i i don't think they've been able to kind of like you know show
that they're getting the benefit of the doubt even though some companies that have similar impacts
have by the way i'm looking at the close here a little bit spies having a nice move it will be a
new record high closing price for the spy obviously didn't hit new all-time highs
that's closer to for spy like 613 something google with a nice move into the close i'm sure a couple
others apple's dumping off but yeah we got about five minutes left here in the market i appreciate
those thoughts i'm pretty sure it's vietnam or taiwan vietnam sorry vietnam is the one which
was i remember a couple years ago um during covid it was such a big thing that people were watching
it's funny we're we're back talking about the supply chain stuff
i was looking at the worst performing stocks in the year uh year to date for the the s p 500 because i knew lulu was there decker is also there actually is the worst performing one
i actually looked at the 10-year veatris vtrs is down 87.5 over the last 10 years. Worse performing S&P 500 stock in that time frame.
WBA is down 87%, Paramount down 79%.
A couple others in here, but I thought that was interesting.
Doc Talk, you see any analyst reports about Nike?
As I always tell you, I generally don't read the reports on the big cap stocks because
there's a lot of visibility on those names it's like not worth my time i mean if you want to know
about nike you can just like you know you can find out about nike pretty easily you know or amazon or
any of these companies you know i will say though something like a Nike, there are these, kind of what Wolfie was saying,
there are these really well-known names that don't get the coverage,
whether it's IBM or I'm sure Nike maybe isn't that.
It can fall into that category.
But I do hear what you're saying.
I think it's a little different than the Teslas and NVIDIAs.
I mean, yeah, there's not really a story there, right?
What you're looking for, what you're looking for,
if you're going to spend the time
to read sell-sized research,
which most people probably shouldn't waste their time,
but if you're going to spend the time,
if you're an active trader,
I think it's worth doing.
So if you're going to spend the time to do it,
if you're an active trader,
it's just not worth your time to read the reports
on things like Nike and Apple and Amazon
because nobody's going to know something to read the reports on things like nike and and apple and amazon because
nobody's gonna know something about a two-year-old your mid-sentence did you just take a bite of
something yeah um what i'll i'll i'll filibuster while you choose. I think the one exception where you can kind of do that is when you've got a turnaround story or something like that.
Yeah, it was a bigger bite than I thought it was going to be.
But yeah, you can do it with a turnaround story.
that like sell side research isn't going to tell you something unique or secret about a two or
three trillion dollar company that's those those things don't exist and if they do exist they're
broken by the media not by wall street okay that's actually an important thing to understand i don't
think people realize that like when something new or unknown is happening with
Amazon or Apple, it's not the Bank of America analyst that tells you. It's the news.
Right? A journalist leaks it, or the information reports it, or the New York Times or the Wall
Street Journal. They find something out that's unknown about the company.
And they're like, hey, Amazon is secretly working on this robot
that y'all didn't know about.
And the stock jumps 3%.
That's how stuff comes out about big companies.
With small companies, very often,
analysts know things that you don't know
and that you can't find on Google.
So I spend most of my time reading small and
mid-cap analyst reports because there is insight there that is not publicly known information,
like obvious information. And a lot of times there's like deals that are made or partnerships
that are announced with some mid-cap companies and the market doesn't know how to interpret the fundamental consequence
of those uh deals or in the case like smid cap biotechs a lot of times the market doesn't know
how to interpret the data well and so these five star biotech analysts analysts from Jeffries and Evercore,
whenever there's a data readout, will come out and say,
yeah, we think the stock is worth 40.
Like, that's what drives those stocks.
It's like the clarity of opinion.
The same thing with any kind of partnership or contract renewal,
like, or even the offering, like the Kratos offering today,
like Stiefel came out and they were like, yeah,
it's four out of the last five offerings, the stock goes up, they're going to use the offering to build drone infrastructure, offering today, like Stiefel came out and they were like, yeah, it's four out of the last five offerings.
The stock goes up. They're going to use the offering to build drone infrastructure, yada, yada, yada.
So depending on the type of catalyst, a lot of times Wall Street is not the source of the information, but the clarifier of the impact of that information.
of that information and that's important too so you'll get the news from the news but sometimes
And that's important, too.
you'll get the right take if you will or the market's favored take if you will from wall street
like it's not all garbage you know and i'm not going to go on the whole analyst or great rant but
it's it really is not all garbage i'm not endorsing any specific analyst or any specific bank.
But for the people out there that see, like, the mockery tweets, like, I encourage you, like, go find, like, a mid-cap stock and read, like, a full 10-page report on it.
And you'll be like, oh, okay, these guys are actually doing stuff.
They're not just, like, bullshitting, you know?
Sometimes the model you might think is bullshit you might be like
okay the assumptions he's making are bullshit or whatever you might disagree with him
but they're not just most of the time they're not just talking out of their ass especially
the hyper specialized guys they're really not talking out of their ass there's some like
ex-phds that are analysts at some of the big banks that are specialists in the industry
that's very common in industries like oil and gas it's very common
in biotech where they're ex-phds in the industry and they become an analyst for a bank in that
industry or they're an ex whatever masters and they have some other degree in something else and
then you know a lot of these guys are eccentric guys they're not like your quote-unquote typical
analyst like the way you think of an analyst like a a dude just, you know, this like nerdy guy that, you know, learned everything out of a book.
That's not always the case.
You know, a lot of times they have real-world experience or career or industry experience.
And then on top of that, they might have, you know, whatever certifications they need.
They might have a CFA or whatever.
And then, you know then they become an analyst.
But these guys
aren't all just farmed by Wall Street
in some secret factory.
That's what some people think.
I will say that reading
them to know
what expectations are
or where things sit
is worthwhile.
So like if you go back to, it was December, I don't remember what month it was,
but Q4, the Netflix print, right?
They were so off-sides.
Like I think the analysts did not have,
the expectations were so off-sides from what the site actually did.
And then in a situation like that, just having that, that info in your back pocket, knowing
like, oh, they're offsides and the stock actually crushed it.
Then it can kind of help you make that decision the next day or the next coming days of whether
or not that gap up is something that's going to get faded or whether or not that there's
probably going to be some more meat on the bone because all those guys that had it off sides then have to come out and revise higher.
So I think for stuff like that, it's worthwhile.
I think for wanting to know what to expect, it's worthwhile.
I think for like trying to see if there's been any sort of changes quarter over quarter,
it's worthwhile.
But just like on a, you know, day to day, minute by minute,by-minute, no, it's not really, because those trends tend to last for quite a bit, and you usually
see the price action develop before those trends, you know, show up in the analyst reports
or in the quarterly reports.
Yeah, but very often they are the trigger for the price action, which is why it's useful.
There's a lot of great setups out there.
Some of them take weeks or months to break out.
Very, very often, analyst reports are the catalyst that triggers a breakout on a stock
that's setting up.
In fact, if you were to number all of the available catalysts in the market, PRs, contracts,
If you were to number all of the available catalysts in the market, PRs, contracts, partnerships, every other type of catalyst, earnings, the single most frequent catalyst that causes a breakout is an analyst report.
So, yeah, I mean, price action sets up before every type of news.
But I'm talking about when things start to change.
I'm not saying that.
I'm saying like, yeah, like take a look at Disney, for example.
Disney's been
bottoming for
several years.
It's been bottoming since it got
to a low in 2023
and it's been in this range.
It's just now possibly going to break out above it.
It's kind of been flying under the radar.
It's not that it's not that, um, you know,
that they had an analyst report that they ripped it. You're right.
Once it, once there's that, like that actual boom,
follow through push,
it's probably going to come from some sort of upgrade or some sort of note
where it's like, Hey, we thought this was,
we thought they were going to have this much foot traffic,
but actually they're parks and whatever, right?
Absolutely right.
No disagreement there.
I'm just saying that typically when you get these large companies,
because we started the conversation talking about Nike.
Typically when you get these large companies
that are in this year-over-year downtrend,
they will start to bottom before there's any subsequent
real growth driver behind the story. downtrend they they will start to bottom before there's any subsequent like real you know growth
driver behind the story and then once it once it does bottom you're absolutely right like typically
what gets you know retail involvement or excitement behind it is all these revisions or these these
upgrades or these notes that have to come out and say hey take a look at this stock
i wasn't referring to large caps you know i was just referring to mid caps but yeah yeah these notes that have to come out and say, hey, take a look at this stock.
I wasn't referring to large caps.
I was just referring to mid caps. With large caps, I don't
read the research.
I can't attest to that.
But I don't think it's useful for large caps.
What's up, FaceNado?
Is that what it is?
I thought it was Facendo or something.
It is Facendo, yeah.
I've always called you FaceNado, dude,
even back in the day when you came to my streets,
I called you FaceNado because that's what it looks like it says.
I know.
I get it, man.
Those damn Italian names sure are goofy.
So I just wanted to say I obviously completely agree with you guys
on the large cap analyst
reports, not necessarily being super beneficial to guys like you and me, but I'm more so curious
about how you execute upon reading analyst reports, whether it's a short report or what,
on some of these smaller and mid cap names. I know you're getting up early and you're doing
the due diligence and you're reading these reports, but then I feel like a lot of times,
and I'm totally different.
I have a full-time job, so I'm really just passively trading, right?
But, you know, a lot of times, even if I did get up as early as you did and read those reports,
you kind of feel like you're late to the party.
And so I'm curious if you could speak to kind of like what your execution looks like on some of these names,
if you've got an example or not. Yeah, yeah, sure. I can speak to that. Yeah. So over time, you'll get better at this. But distinguishing like the value of an analyst opinion is like the
whole game. Right. So a lot of times people will see a price target raise on a stock like
they'll just see the headline
which is what most people see right they follow like like Walter Bloomberg I think has a free
discord where he shares just like all the headlines for PT changes if all you're seeing is the headline
like price target raise to this and you're like oh I can buy that stock and make money
if that's what you think using analyst research as a catalyst is, yeah,
it's not going to work because that's not what it means at all. What it means is in the morning,
you go through, you scan the ones that are available to you, and then you mark a handful
of them that are particularly interesting to you. And you either try to read or have AI summarize or scan those particularly
interesting reports. And then what I do is I go and look at the charts. So I go and look at the
charts for all those stocks that are mentioned. And if one of them is jumping out at me, like,
hey, this is an amazing technical setup. And I this report and I like the shop that the report came from and the report makes bold claims or shares a model update or has estimates being raised.
Like I could go through a list of 35 things that I look for that are positive attributes in an analyst report that I think can move a stock.
But you're not going to initially you're not going to have that I think can move a stock. But initially, you're not
going to have that good of a filter for it. Initially, you're going to think something's
meaningful and buy it and lose money. And over time, you'll learn. That's how I learned. I mean,
there were times I'd buy H.C. Wainwright upgrades back in the day when I didn't know anything. And
I was like, okay, these guys suck. And you'll also realize which shops have a very dilutive opinion,
which means they issue a lot of reports. You don't want to follow those guys because
the chance that their opinion is going to be influential on the name is extremely low. Like
H.C. Wainwright, some days I'll wake up and there's like 45 price target changes from H.C. Wainwright.
I'm like, dude, who is going to go through that every day?
Like, no, the serious firms do it semi-regularly.
Like Bank of America isn't going to issue an initiation on a stock today and issue another report next week unless something crazy happens, right?
That's obviously an exception.
Like some kind of crazy news comes out, then they might come out and update their target.
But barring that, they're not going to come out the next day and change their price target.
Or they're not going to issue a price target with 350% upside.
Like Bank of America, JP Morgan, Goldman Sachs, Morgan Stanley, Evercore, Baird, Jeffries.
These guys will not do that.
They will not, like, an analyst wouldn't even think about doing that in one of those shops.
He wouldn't come out and be like, yeah, $500 price target on a $100 stock.
Like, they don't do it.
And when they do occasionally do it, those stocks fucking blow up.
You know?
Like, they blow up.
Like, what happened yesterday to Indy Semiconductor when Benchmark came out of an $8 price target on a $3 stock. Like, it's going they blow up like what happened yesterday to indy semiconductor when benchmark
came out of an eight dollar price target on a three dollar stock like it's gonna blow up
it's talking up 20 yesterday so then and that we covered that yesterday in our discord yesterday
morning i was like hey indy semiconductor benchmarks out eight dollar price target
look at the chart and then what ended up happening by the time the market opened the thing was up 22
so that's what catalyst trading is and you're again, you're not going to be right.
Sometimes it's going to be a dud, right?
But the beauty of it is, is you take the risk with the catalyst.
And so if there's no reception from the market, if you don't see the volume coming in, there's
no reception of the catalyst, then you're like, okay, I was wrong on this one.
And you take your three or 4% loss or whatever and you move on. But that's really the basic principle. Now,
is that all of the nuance and detail? Of course not. It's a very, very simple,
simplified version of it. But you look for attributes of a quality report. You look at
the chart and see if the technical setup is promising as well as the report. And then you ask yourself, is this in a hot theme?
Maybe, you know, that's another accelerant or point of consensus for the conviction.
If, you know, maybe it's a stock you've already wanted to own in the past, that's even better.
Or if it's a stock in an industry that you want exposure to that you don't already have exposure to.
Like, there's so many things that can add conviction to it for you personally and everyone's going to have a different lens like
some of the people in our community who have taught about catalyst trading who have tried to
trade like this like they sometimes pick stocks and they'll like message me about it or tag me
in the discord and i'm like yeah that looks great and it'll end it'll end up doing great and I'm like, yeah, that looks great. And it'll end up doing great.
And I'm like, okay, perfect.
Your lens is different than mine.
You know, this morning during my research,
I didn't arrive at that stock,
but you might have,
you might've seen something else
or some other report that you liked.
And you're like, you know what?
This setup's crazy.
Like this is the type of setup I like.
And you know, the short interest is high,
you know, whatever.
What'd you say? I said long apple continue long apple yeah it might be a stock that you like like apple yeah no but that that's it
it's it's just it's a game of experience but the goal really is is to assess the quality of the
catalyst and think how much and see how much you think it's worth. Like yesterday morning with Indy, right?
The reason I thought it was a worthy catalyst trade
is because it was up 3% in pre-market, right?
It was a stock that was 28% short
with an $8 price target out from Benchmark,
and Benchmark has been killing it this year, right?
This is another thing I've talked about too.
I know you've listened to Space in the past, Facendo,
but the hot hand changes sorry dude it's actually face nato but yeah sorry and i'm
trying to say it right now so i'm gonna have to go back to this there but the hot hand changes
like last year b of a and morgan stanley and i'm talking about equity analysis that i don't
follow their analysis in other categories like commodities and stuff. But last year, B of A and Morgan Stanley were killing it.
Like, they were killing it.
And the year before that, it was B of A and Raymond James.
B of A is really just always quality on single stock research, in my opinion.
And this year, it's been Baird, Craig Hallam, and Benchmark,
who have been just destroying it.
Like, they've been hitting call after call after call.
I think they've each called, like, two or three stocks
that have doubled this year.
They're equity shops.
So there's great stuff out there.
It's not all garbage.
Like, whenever we talk about this stuff,
that's really my point.
Is there a lot of garbage sell-side research out there?
Yes, there's a ton of garbage.
I would say most of it is garbage.
But there is like it's not even diamonds in the rough.
The 10 or 15 percent that isn't garbage, especially in the mid cap category where there's much less visibility of information.
You can really change the entire opinion on a stock just from an analyst report.
higher opinion on a stock just from an analyst report.
Like there are some mid cap stocks, two to five billion market cap stocks with plenty
of liquidity that get their highest ever volume candles on a big blockbuster analyst report.
And they proceed to make new highs and new highs and new highs and new highs.
There's actually stocks that have done that this year.
You look at some of the nuclear small caps, like their whole run started with an analyst inflection.
Like you look at Lightbridge, LTBR, that thing has just gone crazy and crazy every nuclear run.
That started with, you know, a few bold analysts who came out and were like, hey, we think this stock can work in an environment where this theme works.
Like, anyway, I can go on and on about this because I read this stuff every day,
but it's not all garbage. Is there a lot of garbage? Yes. If you know what you're looking for
and you know the areas of the market and the thematics that are hot and what is being talked
about and where the volume is going, like if you're a market observer on a day-to-day basis,
which some people are, some people aren't, and if you have like a full-time job, you probably can't do that, right?
But for me as a full-time trader, I'm just looking at stocks tick all day.
So over time, over doing that five days a week, you see like, oh, you know, I've noticed
relative strength in, you know, this sector or this sector or this basket of stocks, you
know, or two weeks ago, I saw,
you know, when the market was red, these stocks were holding up. And on Friday, they were big
green again. You know, it's like little notes, like mental notes like that you make. And then
you see an analyst report on a stock in that sector. And you're like, oh, and it just clicks.
And you're like, you know what? The sentiment is inflecting all the technical signs that I was
seeing could get validated here with this as a catalyst. And then, you know,? The sentiment is inflecting. All the technical signs that I was seeing could get validated here with this as a catalyst.
And then, you know, boom, a lot of times those stocks break out.
And yeah, are the charts setting up in advance?
Yeah.
I mentioned that earlier when Wolfie was talking about it.
Charts are always setting up in advance of these things, right?
In advance of news.
But every set up chart doesn't have news right away, right? You can't
guarantee it. You can't say just because a chart set up that the news is going to come out
that instant. And so what catalyst trading does, in my opinion, is it allows you to time
the trade better. That's the hardest part of markets is timing the trade, right? Getting in and staying
in, right? Like I just mentioned with cores, like I got out of it three days ago and I went up 30%
today on a buyout, right? That's because timing is hard. And I think what catalyst trading allows
you to do is to improve your timing. And that's why I think it's valuable and that's why like most positions i take
are on a catalyst most of them not all of them but most new positions i open like are my i post
everything i do for our members in my journal and for those that follow they know that like
almost every time i enter a new position it's either because a a theme is hot or b there's a
catalyst that i think can move the stock.
And if there's short interest there, then I get even more excited generally.
Nike did just report, by the way, BDPSB revenue stocks.
It's like being a little weird right now.
It's going all over the place.
Right now, down one, but I saw it up a little too in after hours.
I have to dig in more.
What were you saying, FaceNado?
Well, I was just going to say thanks, DocTalk.
I mean, I definitely appreciate that detailed breakdown there.
It all makes sense.
And obviously, like you said, experience is a big part of it.
And, you know, the execution comes with that.
So I appreciate that.
And then Evan, I had to give you a shout out too, man,
because I haven't been bullish on Apple in probably two or so years.
But I did this morning when it was trading around $199 or so,
I bought the $210 calls expiring, I think, January of next year. So I'm a big Apple fan
again all of a sudden. I'm rocking with you now. Watch out, that iPhone release,
give us time. Don't give me an AI headline or something.
Don't give me an AI headline or something.
Apple buys perplexity, puts it into iPhone 17.
No, I'm kidding.
But we'll see.
I appreciate you, man.
No, that would do it.
And then, you know, Stock Talk, your strategy does sound good.
But, I mean, have you ever considered just looking at stocks that are trading closest to the next dollar mark?
You know, let's say $2.98, $2.97.
Because it's going to hit that mental next dollar.
That was one of the funniest financial,
I don't know if it was financial advice or what,
whoever that guy was, but man, that was fucking hilarious.
Yeah, I literally could not, I was so confused.
I was like, is this guy serious?
I don't know if he was trolling I thought he was genuinely trolling was
Evan there I remember no it was yeah it's probably stocks in spaces yeah dude
oh my god I was like I was so confused yeah I'm about to take Leo down right
now so maybe you logical can have a little a littleon-one little pow wow yeah watch go either yeah I'm here
I'm just doing a little bit of work on the side how's it going okay yeah you
get I mean logical good chat about stuff some stuff no there's some interesting
stuff going on a lab was one that I've been watching a little bit that was
getting a baby we can go to the bathroom. Let the dogs out.
Rocket Lab's been running, but A-Lab, is that one you watch at all?
Logical?
A-Lab was one that I got a little bit interested in.
I think it's interesting in the data center theme.
I think Sam and Shai are probably better suited to talk to that one.
I mean, like a lot of these tech names, like I'm a small cap shit co-investor,
so I just kind of stay in my lane realistically um i own one that i got back down a little bit but
now it's i'm actually up a little bit on there right now pl you i know you've had some negative
takes on this one in the past i don't think i've had negative there i don't think i've had negative
takes on it i just think that negative takes wasn't the right one for a long time just so
we're on the same page here. But it wasn't ready?
Is my guessing still not?
Maybe I'm heading for a double top.
Oh, I have to look at it.
I thought it was pretty interesting.
I think the data they're collecting is interesting.
You just got to see it actually turn into a business
versus what it's been so far.
The space theme has been really hot.
I do wonder how long that lasts.
Obviously, the timing of us and Starfighters and everything is kind of funny with that.
But we were kind of focusing on it.
But it's an interesting one.
I feel like Rocket Lab being worth more than ASTS is something that makes a lot of sense.
Yeah.
Hold on.
Sorry.
Give me one quick second.
You're good.
You are good. Yeah. Nike Stock, like I said, that was a quick second. You're good. You are good, yeah.
Nike stock, like I said, that was a name that was reporting earnings in after hours,
BDPSB revenue.
Now the stock is up 0.5%.
I've seen direct sales of 4.4%, down 14%.
That's obviously going to be the area where they have higher margins.
Wholesale revenue down, gross margin decline, 440 basis points.
I've only seen a couple headlines there
from the Nike earnings,
but they're not doing too great.
SPY set a new record high closing price today.
The S&P 500 index did not.
I made that mistake originally,
but yes, SPY did.
And it was like a dollar off of all-time highs.
It was making a nice move into the close there.
But it didn't end up getting all the way there.
There really hasn't been too much other news in after hours,
a lot of names reporting when they're going to be reporting earnings,
but not just like the actual numbers.
And that was most of the headlines I saw there.
A couple of the other stuff that I was watching today, though,
that we didn't talk about.
Mike brought it up for a second uber reportedly in talks with former ceo travis kalanick to help fund his takeover of pony ai that is a self-driving car uh car startup car startup obviously tesla
robo taxi has put that very much in the news so yeah that yeah, that's one that I'm sure... I know the initial move on both of them was higher.
What's Uber doing now?
I know and care about more.
I do wonder if Logical Pony AI is a name
that you've watched at all.
$5 billion market cap.
A little bigger than I thought it was, actually.
No, I never heard of it.
When you guys mentioned that,
I've never even heard someone talk about it.
I don't even know what they do.
I guess autonomous driving, not sure.
Yeah.
Quick description says,
develops AI-based robot designed for autonomous driving.
That is like keyword jumble.
So they're in the keyword space is what we'll say.
I also saw a story that the European Union
is reportedly considering lowering tariffs
on a range of imports
in a bid to clinch a speedy
tariff deal with President Trump. Now, those whole trade talks kind of fell off a little bit.
Obviously, that July 9th headline, logically, you even mentioned it. There was a report today
that may be talking down that deadline a little bit of, you know, we'll see, maybe it was Wolfie,
maybe that deadline getting pushed out a little bit. But we're not two, three weeks away from that July 9th trade deadline
that was set for all these tariffs.
I don't know.
It will be definitely something to watch out for.
But some of those headlines are starting to pick up for sure.
Sorry.
It seemed like we had a new person that I haven't spoken to on here.
Facendo Chendo.
I don't know how to pronounce your name, buddy.
If you're Stock Talk, it's FaceNado, but it's actually Facendo.
Facendo.
But he's been on here, I believe he might be in the Stock Talk group.
Maybe not.
Oh, okay.
Long-term listener, first-time caller.
Oh, yeah.
Let's go.
Love that.
No, a couple-time caller, but it's been a while. I had to drop from the call
So I missed some of their combo and when I joined back in but it sounded interesting goes again
Yeah, look, I mean this is it's a great market
I'm obviously excited. Hopefully PCE is what sends us tomorrow to a new all-time high
I mean, we're literally within spitting distance. So
Mark it wants it like you look at the day like today even look at like the day after the ceasefire and I even tweeted saying like this is what if you
don't know this is what you call a trend day because like for the last two three
weeks the market basically went nowhere it was just a chop fest up and down. And if you looked at
any individual day, the intraday trading was just like this range bound, probably good for, you
know, traders to trade within that range. But in terms of investors, like you basically went nowhere.
And, you know, after the ceasefire, you had a day that just went up and to the right, and it never
slowed down, never really had dips throughout the day. That's what I would call a trend day. I think whenever, you know,
like they have those stats of, oh, if you miss the 10 best days in the market, you, you know,
this is your return after X years, which, you know, is a big deal. And that's a reason to always stay
invested. That's what I kind of look at as those trend days. That's what takes us to that next leg higher. So just happy that we got another trend day follow-up.
And it looks like we're headed towards rate cuts.
And I think that's going to be the tailwind that a lot of these names need,
just from a sense of perspective.
What has the biotech area been doing i haven't even looked at it i know xbi is maybe not the best example of the the entire space of it yeah no it's been doing not much to be honest
but that said and i and i've been giving spills like over the last couple days i've been talking
about how rfk is coming out and being a lot more supportive. They're talking about, you know, reducing the
timelines for FDA reviews of, like the, the PDUFAs, like the, to approve drugs. They're going to give
out vouchers for companies that qualify to shorten the regulators' approval timeline
from like 12 months to one to two months,
which is a big deal for these companies
because they're basically being halted
from driving any revenues until they get approval.
And then a lot of these, you know, rare diseases
that have no treatments in the world
and really don't need a phase three
because there is no other treatment to compare to like,
you know, phase threes are, is this treatment like, so in phase two, you determine, okay,
so if you don't know about how biotechs work, phase one is like, is this drug even safe?
Is there, is it tolerable? Phase two is, is the drug effective? And then the phase three is,
is this drug better than the standard of care?
And in all of these situations, it's all about having statistical significance in the outcomes
of the result of the trials. And, you know, a lot of these rare disease spaces,
you don't have a standard of care. There are no treatments. So a lot of these are already on
somewhat of an accelerated approval pathway because they don't need to do that phase three trial.
So I'm just like thinking now, too, that, you know, they're going to be not necessarily more lenient because they don't want to, like, approve drugs that don't deserve to be approved.
But they, you know, had this language where they said, look, there's not a lot of people in these trials.
where they said, look, there's not a lot of people in these trials.
What if we approve the drugs based on if the data is good for the limited trial set of people?
And then we can always monitor the drug post-approval.
Because a lot of these patients are really desperate for any sort of treatment at this point.
And as long as the data is holding up, there's no reason to hold up the drug or the treatment
because people are desperate for it.
So again, the bios that that's like a big
spot for me I have over 60% allocation there and I'm still having a hell of a
year and those things are in the dumps right now so I think we're having the
sentiment I think the sentiment is going to shift there I talked a little bit
earlier in my rant about sentiment is what drives valuations.
So if people don't want to own something, then they don't buy those assets, they sell them,
and they sell them at any price. Whereas if you're in the AI sector, people want to own those stocks,
there's positive sentiment, so they'll buy them at any price. And that's why I can't justify
owning assets that are over-owned, generally speaking, because the price doesn't make sense to me.
There's no value there.
But when it comes to buying these assets, if you're a fundamental investor, you're going to find a lot of value in the biospace.
I mean, these things are trading for, you know, the cash on the balance sheet.
Like, there's like $500 million companies, and they have like $700 million in cash.
And they have like, they're in phase three trials with large partnerships with
like at the and whatnot and so you have a lot of these companies that are
basically being priced for nothing and to me that's a situation where you can
buy something and make a lot of money because there's all the upside nobody
wants to own them you can pay pennies on
the dollar and buy these assets and you know I think the reason why the
sentiment has been horrible is you know RFK is anti-vax you know he's kicked
out the FDA commissioner he brought on these other people who are controversial. Every single one of these were negative sentiment drivers in the sector.
And every single one of those negative sentiment drivers, those moments turned out to be actually
very positive when you listen to the new FDA commissioner's interviews, for example,
or you listen to the cell and gene therapy round table.
It sounds like it's going to be one of the most accommodative FDAs in a very long time when everyone priced the sector for the exact opposite. So I think
that's a contrarian bet in the market is the bios because you're, you just, you know, you,
you have a situation where nobody wants to own them because they think it's going to be bad.
because they think it's going to be bad but if you're paying attention you'll know that it's
But if you're paying attention, you'll know that it's, it's going to be better than ever.
it's going to be better than ever um so i'm excited i'm staying patient it hasn't been
working yet i think some names have been working you've been seeing green shoots
um obviously you know a lot of these clinical bios are um you know binary in nature especially
if they only have like one drug in trials. So you're going to have like
things that fall on their face and other things that are going to do extremely well.
Like I, uh, recap my trade on nectar this week and KTR talked about it like towards the end of
yesterday's show. I mean, that thing is up like 300% in the last few days and I chased it at you know when it was
already up 50% and it went up another two like hundred two hundred percent
right so you know I I think that's how cheap the bio assets are the fact that
you could buy something up 50% and then still make 100 to 200% within the next day or two that's how
cheap the sector is so I I don't know if I have like I'm not saying that the
names in my portfolio necessarily have 300% upside in the next two days or
after the next catalyst but I would think at a minimum 50 to 100% upside.
And all we need is a little bit of sentiment, positive sentiment shift. I mean, bios have been
probably the most shorted. It's almost like the most like, people have been shorting the IWM,
like the small caps, because, you know, there's not a lot of flows there. There are headwinds for
that sector.
Same for BIOS.
They're just under-owned.
No one's defending these stock prices.
So people have just been shorting it. So actually the positioning is not even that people are not long the BIOS.
A lot of people are actually short the BIOS.
So if you ever try to find like short interest information on these names
or, you know, like the ETFs, people are short it.
I mean, they're short it in size. So you have like double whammy happening here. The positioning is so offsides.
So you could just have an unraveling of that short positions, especially as sentiment inflects. So
imagine you have like positive sentiment shift, positive catalysts, low starting valuations,
and that would attract buyers,
but it would also get shorts to cover.
And that's kind of how you have a move like ASTS
over the last month or so.
A lot of that move was shorts unraveling their positions.
And I think so that's the extra leg power
that the
bio sector has as it's tailwind right now. So yeah. I don't know. I have several clinical bios.
I have a few that are commercial. I think the clinical ones are probably the most mispriced,
but they're obviously the highest risk. But here's the thing when when you're buying a
stock for pennies on the dollar when you're when you're literally buying a stock that has 700
million dollars of cash and it's trading at a 500 million dollar valuation right let's say they fail
their trials all of them they literally fail it's almost like you could root for the company to fail their trials
because they would have $700 million of cash.
And a trend lately has been to wind down operations if you fail your trials
and return that cash to shareholders.
That means that you could legitimately have a 40% return
if the company fails its trials in some cases. That's how cheap
these stocks are. And that has happened in the recent past. I've seen stocks go up 50% after
they fail a trial because they are winding down operations. It's a good place to be involved. You know, I always talk about PSNL.
That's the baby Tempest AI.
I don't know what happened to the stock today,
but out of nowhere, it was down like 4% or 5%,
and it rocketed plus 8% from the lows of the day,
and it finished at the highs of the day just super bullish,
and on above average volume. Like like I did not see that coming.
I have no clue what drove this.
It's almost like this stock's been trading, like something's going on,
but I don't know what, like if anybody looks at charts or whatever,
go look up the chart of PSNL right now and tell me something's not going on with this stock.
It's just like nonstop cup
and handles. And the volume is absolutely there. It's kind of crazy. I don't know what's going on.
Today's action was very strong, though. It was almost about to lose the 90MA and then it
reclaimed it with strength. Looks like you can take another leg up. You know, I've been talking
about this stock a lot. I've been talking about it since it was in the $3 range now it's in
the $6 range I've talked about it for the last like year in these spaces so
depending on you know if you're buying it when it was dipping and whatnot yeah
you're probably doing pretty freaking good on this position and you know I
haven't timed all my buys perfectly either but I've had some higher buys
because I thought I was ready to break out. It didn't, you know, that kind of stuff. But ultimately I don't care if I buy this,
if I bought this stock at $5 and not $3, you're like, what? You're okay with paying 60% higher
than the lows? I think so. Yeah. Because personally, I think that PSNL could be a $20
stock. That's not financial advice, but I'm just thinking ahead. Like if they get insurance reimbursement approval, which is something that I've been talking about for a long time,
which the management team sounded very confident about in their last earnings call,
which is why I doubled my position at $4, and now it's at $6.40.
I'm just thinking ahead.
I don't know.
This thing could easily get insurance approval.
It can start challenging, I don't know how to pronounce it,
Notera, which is the leader in this space of cancer detection tests.
They have an even more sensitive detection test.
And I believe that members of Notera went to,
they went to Personalis. Again again Tempest owns 18 percent
They have a distribution deal Merck has 50 million dollar investment in the company. This is a small cap
So, you know, this stock has been very strong. It's like my second or third largest position and yeah
And yeah, I do believe that this can be a $20 stock.
I'm I do believe that this can be a $20 stock. So
So I'm not really, I haven't trimmed any.
I don't plan to.
I'm waiting for insurance re-approval.
And, you know, the way that it's been trading, it feels like, I don't know if somebody knows something.
Or if this is going to be a buyout target.
Or I don't think it could be a buyout target because there's a lot of like interest from like Tempest and Merc.
So I don't know if they'd approve a sale.
But it's trading like something's going on.
Maybe it's just the insurance stuff and somebody's just kind of well-versed in this field and knows that maybe they're headed for it.
But it's been a very strong stock.
So there's a lot of good bios right now.
There's an interesting headline out in the last like 10 minutes 15 minutes or so while you were
talking with this trump saying we signed a trade deal with china yesterday i don't know nothing
else market didn't really move that that aggressively all of it i mean we're in after
hours apparently he's also said there's a trade deal coming with um india soon as well so i know
we talked about trade deals a little bit earlier and uh it's an trade deal coming with um india soon as well so i know we we talked about trade
deals a little bit earlier and uh it's an interesting headline coming out during this
i don't know but apparently it was signed yesterday
but i definitely do appreciate the thoughts they're uh they're logical
rump on powell we have to fight this guy.
He's also touting a Texas Instruments $60 billion investment in the US, which they announced
a couple of weeks ago.
I'm curious, Logical, how have the timelines of those trials and everything changed over
the last little bit? Have they taken more time to get done? As some people may be pointing
towards, is the timeframe for how long these approvals and the whole process, does it kind
of maintain what you would expect?
No, I mean, right now, the turnover is just now happening at the FDA. So we don't know if they're like, we haven't seen the effect yet.
But I think that the market is smart enough to begin sniffing it out. And in my view, you know,
markets look ahead. And the stock prices are cheap today. They're not promised to be cheap
tomorrow. Like, I think that once the market wakes
up to this, cause you know how like people on this spaces come on and say, I don't want to buy the
market here. I don't want to buy these things. These things have run so much. I think that if,
you know, anyone is being serious about trying to find opportunities in this market,
you have to go look where there is opportunity. And to me, this is the biggest opportunity in the market.
So I'm loaded up.
I have plenty of names.
I have a nice basket approach.
You know, you're going to win some, you're going to lose some.
I had SRPT that got absolutely decimated.
So, but you know, that's why the bios, you really want to size them at like 2-3% if you
the bios, you really want to size them at like two, 3% if you feel that there's elevated risk,
feel that there's elevated risk.
because you know, like 2%, 2.5% or something, isn't going to break the bank if you're wrong.
But if you end up being right, it could end up like contributing 10% performance,
which is a huge deal. And I like, anytime I take a trade, like I'm extremely long in this market.
I'm extremely levered long, but I have like 30 positions.
And for a position to get into my portfolio, for it to qualify for a position that I'm interested
in, it needs to have incredible upside. I'm talking five to one odds. Like I have to see,
okay, this name, you know, has 30% downside if I'm wrong, but like 300,
like 200% upside if I'm right.
Or, you know, and you can scale that, right?
Like, for example, if I'm adding on trades to my account and I'm taking on additional
exposure, let's say a stock's trading at like a some moving average, like the 21 EMA or
whatever, right?
I can say, look, a close below, and this
is just for trades, not investments, but I could say this, I could say, look, I'm willing to take
a, you know, let's say five to 10% loss. If I, if the stock ends up, cause these are volatile
stocks. If the stock ends up closing below the 21 EMA, I'm willing to incur, let's say on average,
a 7% loss on that position.
But if I think that the stock can easily run 50% from here in a short period of time,
bouncing off these moving averages, I mean, right?
Like what's that?
What are those odds?
It's 50 to seven.
That's like a, you know, seven to one odds.
you know, seven to one odds. You got to take that in investing. So I think if you take those odds
You got to take that in investing.
enough, then one winner ends up paying for multiple of these paper cut losers. I was just
talking to a friend about this yesterday and like quantifying, you know, like, okay, like,
let's say I take a 4% position constantly. Like I take 4% here, 4% there, right? And if my max risk
is 7%, then I'm taking like a 0.3% hit to the portfolio.
But on the upside, I could make 2% on that position, maybe more if I continue to stick
with the trade, which has happened in several names at this point.
Like Evolve Technologies has doubled since I entered.
My calls are up 350%.
Techogen is up 170%
in just a two-month period.
Magnite is up double.
Right?
So, there's just, like,
Alistair. Alistair was up from
$12 to $23.
I mean, it's
almost a double. And it
didn't even pull back. So, like, one
Alistair win can pay for like 10 situations
where I might get shaken out by volatility because, you know, the stock closes below
moving average. And I just say, ah, screw it. And in situations like cores, you know,
I got shaken out because it closed below the 21 EMA. I probably should have reentered when it
reclaimed the 21 EMA in the 200 day right after
that. But I just said, you know what, man, these crypto stocks are pissing me off. They're so
volatile. I keep getting shaken out. The amount of times I've gotten shaken out of Bitcoin and
Ethereum, I'm just so over it. But of course, it turned out to be the wrong decision to not get
to not get back in.
back in. You can't win them all. But I think if you do this on a long enough time period,
You can't win them all.
But I think if you do this
on a long enough time period,
you can, you know,
rack up enough wins
that it's going to overwhelm
all the losses by a big degree.
So, yeah, trading has been interesting this year.
I'm getting a lot better at it, I think.
And, you know, I think what's really powerful
is combining several different factors.
Like, I'm not just a technical guy.
A lot of times I need to make sure that the, um,
there's a few other things working.
For one, like, I typically won't even buy something
unless it has a fundamental case that I can justify.
It has a strong, potentially, like, theme and momentum
that's going to help a trade for sure work out quicker.
Um, it needs,
it would be ideal if I've been seeing call flow come in or, you know, people selling puts ideally, like there's just like a factor. There's a bunch of factors you can incorporate
to increase the odds of you having success in a trade. So I think every data point you get
is important. Like there's people on here who trade and they just look at technicals and like, sure.
Right.
Like that's fine.
And some people are, you know, amazing at it.
But I don't see why if you have more information at, you know, at your disposal, you just have
to do a little bit more work to increase your odds.
And then maybe you can even size up the positions or have more of them or whatever, increase your exposure.
I don't know why you wouldn't incorporate fundamentals or momentum or options flow or whatever.
So that's kind of what I've been doing lately is just attacking it from like all angles, every single trade I approach.
I see a Sam Solid down there. I don't know if we have him up here that's in the request this is a nice logical day you know can we flip the topic a
little bit more another sector I hear you talk a little bit about logical is like the ad tech space um
and i'm curious what's going on in that area is magnite uh an ad tech name yeah uh is it magnite
has been an absolute monster uh if you look at the chart i mean it's been it was like 20 cents
from a new 52 week high today uh back from february and in my view this new 52-week high today, back from February. And in my view, this new 52-week high should be
considered a new all-time high because I don't really take the peaks that you see on charts in
2021 very seriously. Like, that was all meme stuff and it just didn't make sense. So, yeah, I mean,
I think that, you know, that's been a big winner.
And it didn't make sense to me how much it sold off.
If you look at the chart, it's been clear accumulation.
I've been talking about how all of these small caps have been trading in this range for so long.
But the volume has been picking up dramatically lately.
And so people, I think, have been accumulating it, which is making the stock easier for it to float higher from here.
stock easier for it to float higher from here because any new buyer has to push the price up
Because any new buyer has to push the price up incrementally.
incrementally. And, um, you know, Magnite was trading at like, it's probably still trading at
like 10 times free cashflow or something like that. I mean, it's an extremely cheap company.
That's the thing that people don't get is like, there's fundamentals here. I think that, you know,
Magnite can probably trade,
and again, don't quote me on it 10 times
because I haven't checked the valuation
since it's had a run-up recently.
But, you know, maybe it's 15 or 20 times
at this point, possibly.
But, you know, 15 times free cash flow,
that's not expensive.
For a company, which, a $2 billion company,
let me just set this up for you.
Let me set the stage.
It's a $2 billion company or whatever it is now.
And they have a partnership with Netflix.
And the ad tier on Netflix is the reason why Netflix is growing and hitting new all-time highs.
So they are facilitating a lot of the ads on the Netflix platform.
That's a lot of volume for a small company.
$2 billion company working with a $400 billion company.
You do the math.
That's just one partner, right?
That's a big partner.
They've signed on Spotify.
They've signed on, they're the exclusive partner
for Pinterest.
They've just been winning contracts left and right,
DirecTV for live sports.
This is a small company.
And forget all that, that's all great.
Then you have the Google ruling, which i talked about a few months ago which is why i got extra extra long the stock i wait this stock 20 of my portfolio that includes leaps i don't my only
regret is i should have held on to some more of my shorter dated calls but oh well at least i
sized this very appropriately um but when that Google ruling came out that could change the
entire dynamic of the ad tech environment for these small cap players because the court ruled
that Google was acting anti-competitively in the supply side of the ad tech chain which means that
trade desk doesn't get any sort of resolution because they're on the demand side but Pubmatic
and Magnite will see multiples of their
current business market cap in incremental revenue as a result of that ruling once all the appeals
are said and done that is my view of how this will shake out in the end and you know that's like
google losing maybe 10 20 market share when they own 80 of of the market, right? So, so Google will still end up being a
massive force in that system, but you're talking about a $2 trillion company losing a big piece
of that industry to $2 billion companies, or in the case of Pubmatic, a $400 million market cap
business. So just imagine what it could mean for them to gain one, five, 10% additional market share each.
I mean, you're talking about extra, like, I don't know, billion dollars or more in revenue.
And with the incremental revenue, it's going to be at much higher margins, like 90% margins.
90% of that revenue will fall to the bottom line that's what the
management said themselves on their last earnings call so that's something that's going to take one
to two years to play out in the meantime you have a strong ad tech background ad environment you have
Netflix partnerships Spotify partnerships etc the business is humming along the valuation is
not expensive and on top And they just had a partnership
with Amazon, too, by the way. So, you know, this is a $2 billion company partnering with,
you know, mega caps. And then you have the insane tailwind of why I'm sized so heavily
in Magnet and why I probably will never sell a share of it, is the Google ruling. The ruling's already happened, but now we have to go through appeals and blah, blah,
blah, until the ramifications take place.
That is something that is like a sea change for the supply side ad players.
That's going to be, yeah, like a 10x opportunity for these businesses.
And that's why I've gone back to sizing up Pubmatic as well, but it's half the size.
Just because it lacks the momentum, I think that Magnite is a much better business than Pubmatic.
But still, once the market catches on for what the Google News means for these companies,
I mean, Pubmatic can easily be a 10x from here as well.
And that's not me being hyperbolic at all.
That's like the math that works out to those numbers.
If anything, I think that Pubmatic will be a bigger beneficiary from the Google news
because more of their revenue is derived from display ads, which is where the Google
ramifications are going to come in, not on the CTV side, which is where
where Magnite operates more so and they're the leader in.
So Magnite is basically doing a lot better right now because CTV is the hot place to be, connected TV.
And Pubmatic isn't because they're not as big there.
They're not a leader.
But eventually when the Google news comes,
it's going to be, they're both going to benefit a lot,
but Pubmatic might benefit benefit two times as much.
Interesting, interesting.
It feels like a pretty disjointed area, but it could be pretty connected on the back end as we were
getting more and more streaming services, but they could just be
using the same back end, which is probably what's
happening. Is Trade Desk a big player in this area?
The Trade Desk is a big player in this area.
They're the biggest player.
But the thing is that, so they don't, the Trade Desk doesn't necessarily compete with
Pubmatic and Magnite because they are on the demand side.
So Pubmatic and Magnite are on the supply side.
So basically what that means is you got to think about an ad, right?
Let's say you're on Yahoo Finance and you're reading an article and there's like ads everywhere, right?
So Pubmatic and Magnite work with Yahoo Finance to sell that ad space.
Trade Desk is working with the advertiser who is placing that ad.
who is placing that ad.
So it could be like, I don't know,
like SpaceX wants to place an ad
on Yahoo Finance articles about space stocks or something.
So Trade Desk will work with SpaceX
to get their ad on all these different platforms.
And so on the other side of the transaction,
Magnite and Pubmatic are representing Yahoo Finance,
essentially, to sell the ad space.
So they're brokering the transaction. The Trade Desk has tried to do these things to get into the supply side and facilitate the transaction, but then they end up having this conflict of interest
and I don't really, because it doesn't make sense that you're representing both the buyer and the
seller. I don't think that that's, like, people are like, oh, but that's going to kill these
businesses. Well, it's been four years and they haven't killed them yet seller. I don't think that that's like, people are like, oh, but that's going to kill these businesses.
Well, it's been four years and they haven't killed them yet.
And I don't even think it's made a dent at all.
These companies continue to grow. So I think the CEO of the trade desk, what was his name, Jeff Green or whatever, he seems
like a great CEO and whatnot.
But I think like he keeps trying to tout that as an opportunity for them just because I feel like they're falling short of their actual goals on the demand side, which is how you get the stock to be down 50% or whatever.
Because they basically were priced for perfection and they're not meeting those goals.
Whereas the other side of the industry, Magnet and Pubmatic are trading for extremely cheap valuations.
industry, Magnite and Pubmatic are trading for extremely cheap valuations.
Yeah, you know, I wasn't even looking at valuation, just market cap difference there is pretty
astounding on the different sides of it.
Well, and here's the thing, right?
It's because the trade desk is the leader on the demand side, but on the supply side,
Google owns the entire market.
And so nobody's wanted to own Magnite and problematic because it's like well
Why would you want to you know fight with Google if you're a small company, right? Nobody wants to do that
So that's why these companies are generally
mispriced lower priced
And there's like there's other reasons to about I want to get into it
but now
the entire industry dynamic is going to shift because google's
ruling is going to impact the supply side not the demand side so all of a sudden it just became way
more favorable to be on the supply side meanwhile these businesses are being priced as if like
there's no point in being there i personally don't even think after this magnite run that we've even
begun to like anywhere be anywhere close to repricing these stocks for what the future of that industry is going to look like in the next two years, three years.
So, yeah, whereas the trade desk, the court was not able to rule that the Google was acting any harmful way on the demand side.
So there's no tailwind from that ruling for TradeS,
only for the small cap players, which is excellent.
And that's when I really increased the size of those positions.
That was basically the call option for owning these stocks,
and it came true.
I appreciate your Logical.
We're going back and forth here for a while.
So shout out to Logical.
If you enjoyed that last little bit there, you should definitely be checking him out and giving him a follow.
Appreciate you, man.
Gavi, have you your hand up?
Yeah, I actually had a question for Logical.
It's a slightly different topic, but also in the realm of just asking your general thoughts on some of these stocks.
on some of these stocks.
I know that you both play in the crypto space a lot.
I know that you both play in the crypto space a lot.
And I wanted to get your thoughts on just how some of these stocks
that kind of have exposure to crypto,
this is how you think about them.
So obviously, you have ones like Coinbase and Circle.
And Circle came off to a crazy start there with the jump.
And it's pulled back a little bit, but today it was up another 8%.
And then you even have names like Robinhood.
You know, Robinhood right now,
when you go into Robinhood, they literally have a button on the screen that says crypto season.
And they're incentivizing people to put crypto into the platform, we get a 1% boost. And if
everybody puts it in up, we get a 2% boost. So I'm just curious how you think about these names that
are stocks in the market. They're not buying Bitcoin, they're not buying Ethereum, but how they're going to consider throughout this year.
Because I know that we're both bullish on the crypto side.
So just let me get your thoughts there.
Yeah, so here's how I'd put it.
I think that, okay, if you're bullish to the crypto industry, Coinbase is probably the best way to play it.
Because they're a pure play on crypto and you don't need to choose the winner of which coin wins. I think an issue that we had last year with the meme coin run, and we talked about this a lot
on the show last year, was dude, every day there was a new meme coin and we couldn't pick the
winner. The market couldn't pick the winner.
There were a finite number of dollars,
and there were infinite number of coins to chase.
So there was not enough liquidity to pump all of these coins.
Instead, if you bought Coinbase,
no matter what coin everyone was trading,
at the end of the day,
most people bought the Solana originally from Coinbase.
So Coinbase served as the on-ramp and off-ramp for a lot of those USD transactions.
So, and, you know, obviously they're building, you know, on the base platform and they're
trying to, you know, get more mainstream and take business from, you know, other players
in the industry, you know, legacy financial companies like Visa and whatnot.
So that'll eventually play out possibly.
I think that's a clean way to get it. I like Robinhood a lot. I like Robinhood more so because
it's, I think it's like an all encompassing app and it's not just a crypto play, but you get a
piece of the crypto action as well. But the really interesting part about Robinhood is that the average user is 29 years old, which means that, you know, people of our generation are going to
be using Robinhood and longer term. And that's why they're doing all of these things right now
to make their ecosystem more sticky, grow their user base as much as they can, steal as many
customers as they can from Fidelity and Schwab and all these legacy players.
Because once you have someone,
the switching costs are going to be harder, right?
And so I think it makes sense for them to do these one-time,
you know, deposit your crypto stuff here, right?
Like they're just trying to gain as much assets as they can.
It's a land grab.
And eventually they won't have those deals
and you'll be locked in with them.
And the thing about this is that when you're with a bank, like, you don't, people don't
usually switch banks all that often.
It's a very big hassle.
So, you know, I think that they could end up being the biggest bank of the future, which
is very interesting.
And I, I'm gonna tell you right now, I don't own this because I'm dumb and I just didn't
see it.
I didn't see the forest for the trees. So, or whatever that saying
is. And so I don't own Coinbase right now either. I've traded it a lot in the past. Um, the crypto
trade has been very frustrating lately and I've just been getting shaken out nonstop, but I do
have a few names right now, uh, that are crypto exposure. Like I re-entered Galaxy. Iron looks really good. I'm in that one
as well. And what's the other one? I have another small cap. It's like a micro cap
Bitcoin miner that's going into the computing area as well. DGXX. That's been looking really
good. And then there's, I mean, yeah,
there's a lot of interesting crypto players.
I think finding the ones that are being
a little bit more innovative
is interesting at this point in the cycle.
But I think for a lot of people,
you know, Bitcoin has obviously been holding up very nicely.
It's just a simple way to probably,
what to own in the space is probably that
because it's just been holding up better than everything else.
The altcoins are tough because you have to pick a winner.
So if I was going to buy altcoins,
I probably would have just bought Coinbase or something like that.
But I think that if you believe in like Bitcoin or all these other things,
then you can just find a way.
You can either own that asset.
You can either own leverage on that asset
through like calls on iBit or something like that.
Or if you want to have some sort of high beta way to play it, but you like being tied to Bitcoin
more than the altcoins, then you could play some of these miners potentially, which are showing a
lot of strength on the charts. But generally speaking, from a fundamental perspective,
I don't think that the mining business is that good of a business. They're structurally
unprofitable. I've had this take for a long time. But again, when you're in the heat of the cycle,
that stuff doesn't matter.
It takes a backseat.
And if we get higher Bitcoin prices,
then all of a sudden they will be profitable,
at least for the cycle,
until Bitcoin cools off.
So I think just knowing where we are in the cycle
is extremely important when you're buying cyclicals.
And, you know, by all means,
crypto is a cyclical industry so that's my take yeah no it's
very interesting to me I like the point that you made of the banking side because that's where
Robinhood trying to go deeper into right they've obviously lost a banking product which to be honest
really hasn't rolled out that widespread yet it's relatively recent and that's gonna help make the
ecosystem a lot more sticky the brokerage is already sticky enough. Coinbase, similarly, like you said,
for me, I like Coinbase because one of the things that I see Coinbase having an advantage in is
company accounts. It's really difficult to create a LLC account in the crypto world,
just overall. It's not saying it's easy on Coinbase. It's just easier there than some
other places. And so for me, that's what keeps me locked in. I really do not want to
look through the process of trying to create another corporate account on another crypto
pair area. And that's where the big money is, right? That's where I have way more of
my company account on Coinbase than I have my personal. And so that to me gets really
interesting. And maybe Robinhood entices some of those businesses as well as they continue to go. I also love the coin weekly chart right now. We just cleared the highs from November 2021,
which means we're back to IPO price, which is crazy. If anyone remembers Jim Cramer at $420 on IPO day saying, oh, this is just the start. Well, Jim, never wrong,
only early. And we come back to it. So to me, it's an exciting position there as well. So yeah,
I agree with you on those pieces. The one last one I just had, it's an off to do that, but
micro strategy. Just to get your thoughts here with these Bitcoin treasury plays,
Anthony Campiano is launching one now. You're just seeing more and more of these pieces.
So yeah, that's just one other area that I was kind of curious about.
The Bitcoin treasury companies, I just don't know how to feel about them.
Because at the end of the day, it's more likely than not that the underlying business is not that good.
Like MicroStrategy or Strategy doesn't even have an underlying business.
I mean, they have a software business, but it's like the revenue run rate is just abysmal. You have GameStop
doing that now and nobody wants to own GameStop's underlying business. Now the value is literally in
the cash that they've raised that's generating interest income or if they're going to buy Bitcoin
and there's appreciation of that asset. But in my view, you're going to be paying, from a fundamental
perspective, you're going to be paying a higher net asset value. Like you're going to be paying higher
than the net asset value of the company. Right. So like they could have $5 billion of Bitcoin,
but the stock's trading at $10 billion. You could just, so if you bought like $10,000
of GameStop, let's say you're really only getting $5,000 worth of Bitcoin for your investment.
So to me, it doesn't make sense because you would rather, from a fundamental perspective,
right? Like, it doesn't mean that this has to play out in reality because we all know that
GameStop went, you know, 100x in 2021. It doesn't mean reality and what the fundamentals say in a
finance book should always be the reality like if people want to buy
GameStop they're gonna buy GameStop and it's gonna squeeze right like there's
always that aspect of any stock but if you were to buy something as a good
investment like in that case buying Bitcoin is a much better investment than
buying micro strategy or or a GameStop and again like for example like micro strategy might be trading like
three times what they hold in Bitcoin just because there's hype around the stock because they've
levered their balance sheet to be able to buy more Bitcoin and then the question becomes they're so
levered if Bitcoin I mean that's the thing though right like Bitcoin would literally have to like
double or triple in price for you to get the same value as just buying bitcoin already so there's a
lot being priced into these companies and most of it is just based on the underlying asset of bitcoin
so from a fundamental perspective they just don't make sense as investments but doesn't mean that
you know the hype of trading these stocks and the chart looks good and all that stuff can't work out
anyway cool i appreciate it so dumb it's just one of those things
that feels like people are treating like free money jama's probably gonna launch a bitcoin
treasury company and i don't know now you were texting yesterday that you wanted to do one
bought all one yeah listen first of all i was not talking about a Bitcoin treasury company. I was talking about a premium company in a hot sector going live.
No, I'm kidding.
But listen, Starfighters, we'll see.
But yeah, General Dynamics was awarded a nice military contract too.
But yeah.
Third day in a row of Bitcoin treasury companies.
I don't know.
I don't get it.
Love that.
Three days in a row of QPQ all-time highs.
We got the SPY all-time high quality today right
just for spy yeah not for the s p 500. stock talk actually i want to go over to stock talk if we
can if you have you that that uh china headline i don't know if you saw it
well trump signing the deal yeah apparently we signed a trade deal with China yesterday.
Good job.
The market didn't really react off of this one.
They were like, what deal is it?
And he didn't comment on the details.
Apparently,
the Fox News reporter said he's going to
go back and ask him.
I was a little surprised the market didn't move off of it.
I mean, it's very unclear what even happened.
That's why the market didn't move, because it's not clear exactly what he signed.
Yeah, I thought that was interesting.
There's been a lot of, like, oh, resolution
negotiate a deal, and then there was
the Geneva
agreement to agree,
and then there was
another agreement that
an agreement is coming.
The market at this point is just like, all right, dude,
just let us know when you've actually lowered the tariffs officially,
which maybe he did on Wednesday.
Maybe that's what that was.
Maybe that is what he signed.
I don't know.
But he does that a lot where he'll just like reference.
He'll be like, yep, I signed it.
Sign what?
What exactly did you sign?
I've seen that with Ceasefires, too.
Yeah, exactly.
We'll see. But I do think what he
did with Europe,
like I said, I don't
play the loyalty game. I just criticize
where I think criticism is appropriate.
But I think what he did with Europe was really
brilliant.
You've got to stop eating while you're talking.
That NATO deal was great.
If we're catching you a bite, that's one thing.
You're calorie-loading before.
Yeah.
Protein powder? What's the carbs?
No, they're actually not very clean carbs.
We need a bag of chips.
I saw Gavi eat a piece of bread yesterday.
It was a little unexpected.
I had one bite.
I saw Evan down a ribeye.
New York strip? What was it?
What did we have?
It was a New York strip.
It was a New York strip.
I took half of it home, though,
because I ate too much bread.
That was some pretty good stuff. It was a New York strip. Took half of it home, though, because I ate too much bread. That was some pretty good stuff.
Yeah.
It was good stuff.
Shout out, shout out.
Stock talk.
But I thought that trying...
Yeah, go for it.
Stock talk.
Are you long or short lobster?
They have lobster futures?
I honestly don't know how I got painted as a lobster guy,
because I don't even really like lobster that much.
Like, I like it, but it's not like a hot topic.
Like, it's fine.
It's solid, but it's so expensive and it's just butter.
No, I'm not talking about the price.
I'm just like, I'm just not a big fan of it.
Can you trade lobster futures?
Huh?
Can you trade lobster futures?
Is this a thing?
Feels like you can trade anything
sorry yeah continue stocks off you were going in there no i was gonna say my favorite meats are probably steak lamb duck um i honestly like shrimp i enjoy a really good high quality shrimp more
than i do lobster, to be honest.
Duck is underrated, man.
My favorite meat, probably.
Duck is super underrated.
Yeah, I love duck. You know Stock Talk?
What else do I like?
I like rabbit.
I like rabbit.
It's not in my top five, but I like it.
Yeah, just underrated.
Lamb, I love.
But I really specifically like lamb chops.
I don't like all lamb chops.
Yeah, lamb chops, for sure.
Lamb chops, duck breast. Wait, I chops for sure. Lamb chops, duck breast.
Wait, I have a question.
Stock talk real quick.
Because you're a steak talk, right?
So I got to ask you, what's your favorite cut?
I mean, ribeye is the only right answer.
No, that's wrong.
That's very wrong.
Yeah, wrong.
It's New York.
New York is the right answer.
Oh, they're both wrong.
I eat New York's.
No, no, this is the thing. I eat New York's more New York. New York is the right answer. Oh, they're both wrong. I eat New York's. No, no, this is the thing.
I eat New York's more New York's now.
I think if you're trying to be healthy, yeah, New York's the way to go.
But if you don't care, if this isn't a question of what are you going to eat every day, then I would go ribeye.
The flavor is better on a ribeye.
But yeah, the New York's more of a healthier question.
Well, it's in between. It's just the in between of a filet and a ribeye. I think the flavor is better on a ribeye, but yeah, the New York's more of like a healthier...
It's just the in-between of a filet and a ribeye.
I don't like when people say that
because the intramuscular fat on a New York
is nothing like a ribeye. I don't like when people say that.
All the fat on a New York's on the side.
there's marbling. I guess it just depends
on what you're eating. If I eat like an Australian
Wagyu New York, I'd rather take that over ribeye any day
maybe i'm still a ribeye guy fair enough i i feel like um when it comes to steaks most people start
with like a filet because they have no clue what's going on and i still love a filet i had
one last night don't get me wrong but um you start with a filet and then you have a ribeye
you're like oh my god this is a whole new world of just flavor.
What was I doing this whole time?
And then you have enough ribeyes where you start feeling sluggish after every meal.
And you're like, I think I like the New York.
It's a good compromise.
Nah, I don't know, guys.
I don't even look at the menu.
It's filet mignon medium rare with a crust.
That's all I'm getting.
You got to get Pittsburgh style.
That's what I ordered last night.
I know.
That's literally, yes, Pittsburgh style. That's what I ordered last night.
Literally, yes, Pittsburgh style. I am familiar.
Yes, yes.
We have a great restaurant out here in LA, but in Pasadena specifically.
It's fantastic. I was there last night.
Great, great
filet. Probably better than their ribeye, actually.
All right, I'll just talk about food. I got to go to the gym.
All right. We'll see you guys
monday good spaces good spaces squad shout out a lot of nicole for filling a lot of this
brought him a lot of stuff we appreciate you shout out stock talk if you enjoy these these
conversations every single monday through thursday three to five p.m eastern at least
sometimes we'll stay after talk about stocks talk about stake. You never know what happens in the overtime show.
But we appreciate each and every single one of you guys for joining in.
Interesting times in the market.
We might have a trade deal.
Maybe. Possibly.
We'll see what ends up happening.
I appreciate you all.
Have a great one, team.
By the way, there is a little VC show going out on the Wolf account right now,
if any of you guys are interested in private investing or anything like that
and just want more content right now.
But, yeah, appreciate you all.
Have a great one, team.
Follow the speakers.
Thanks, everybody.
Run it back on Monday.
You know what?
Actually, we might slip this in here for the couple of you that say
there might be a live stream coming of these.
We might switch some things up a little bit not change the time or whatever but maybe change the
format of this live streams give us a live chat some other cool stuff that
might happen or at least test it out so I'm excited about that I appreciate y'all
be on the lookout for that catch you back here same place same time Monday
yeah catch you back here same place same time Monday see ya you Thank you.
