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STOCK MARKET TALK
Recorded: Sept. 10, 2025 Duration: 2:09:50Space Recording
Full Transcription
Thank you. What's going on, Mike mike how's it going
let me go man how goes it dude life is pretty good how are you let me pull up mp as well How's it going? come on there's got to be points for that one Thank you. All right, mic check, Mike check.
How's everyone doing?
Options Mike, can I get a thumbs up?
You got it.
You're here.
You're good.
Okay, just making sure.
Jordan's going to help host a little bit today.
I am in an Uber at the moment, and Evan, I know, is traveling as well,
but the show must go on, right?
Options Mike, it always does.
Quick market update.
We popped, obviously, and we've faded all day.
The NASDAQ is basically break-even on the day.
SPY, the S&P up about 0.2%, we'll call it a quarter of a percent.
VIX is up a little bit today.
IWM, the Dow, both red as well.
And, yeah, of course, talk of the town, Oracle, Larry Ellison reportedly taking over the top
spot on the world's richest person from Elon.
But Oracle, we were live on the space yesterday.
We didn't get a whole lot of deep dive into it, but we had a lot of, obviously, a lot of
quick reaction to those cloud numbers in their backlog.
So I'm sure we'll talk about some of that today.
And the show must go on.
So we're going to make this work today.
And we'll see.
We'll get the rest of the crew up here.
Jordan's going to come up here, host a little bit.
But Options Mike, would love to see you kick us off a little bit here.
What stuck out to you?
Obviously, Oracle.
There were some names strong. Some names popped and didn't do much. And of course,
we had the PPI number this morning that pushed us up and then just a slow trickle all day again.
It's becoming a thematic, it feels like. These gap up days have been difficult. When you gap
up, this market tends to want to come back in, and that kind of pattern sticks here today.
We haven't quite filled the gap yet, but we've filled most of it.
This market is just – if you've been doing this long enough, there's times when the action bothers you,
and the action in this market this week is really just starting to bother me.
Oracle as a company should never move 50% a day.
I mean, was their a, you know,
was there guidance good if it, if it hits, it was fabulous. Let's be honest. But I mean,
a lot of that money is money that we never know if they'll see or not. Right. You know,
it's over, it's, it's overflow, right? There's people are signing contracts in that low margin
for overflow. It's not money that they're necessarily going to see and they might,
or they might see it, but that move was just off the charts and ridiculous now i have no complaints i made
very nice money trading oracle after hours last night and with options this morning so i'm not
trying to say that but it's that kind of action that just kind of you know it sets off some alarm
bells in your head like something's not right that ppi number today was everything we wanted it to be
um you know it proved that last month was a one-off
even the fed said they thought um any pop in inflation would be a transitory thing from the
tariffs don't be surprised if you get a hotter cpi tomorrow because it the the you know companies
pass it back on to the consumers but you know the market already has accepted that it's fine the
market's now looking into next week and looking for the Fed to cut,
and they're looking for a 50 basis point cut or more.
And, you know, I can understand why at this point.
If you're looking around the rest of the market, Abgo had a huge day.
Massive move on Abgo, new all-time highs there.
Core, we've had a big pop today.
Hood, new all-time highs hit the 123 area off of that event last night. I know Evan and
Wolf and some of you guys were there. And what they're saying there is just fabulous. It's just
really good information. They're going to have short selling. They're going to have 24-hour
stocks and ETFs. They're going to get their AI into it. I mean, this is all stuff everybody
wants to hear. Palantir had a big day up off of oracle nvidia had a decent day although
it's given a lot of it back here and apple doing what it always does after its events selling off
drastically and coming back down market here is just it's um it's the market what we have um
you're going to see more and more people starting to use the b word bubble we saw some more people
talking about today who are managers and stuff.
And yeah, you know, we're starting to feel that way.
That doesn't mean we have to come in, but we're seeing a lot of volatility come into names.
People are chasing.
And that to me is always a warning sign because when problems come, they come real quickly.
But right now the market's shrugging everything off.
You know, Poland had to shoot down 19 down 19 Russian drones in its airspace with NATO
yesterday, and the market doesn't care. The market doesn't care about anything going on back and
forth with the news. It's just everything is fine. And that is a tough market until something
bothers it. But for now, they're rotating around. Google knew all-time high today.
I don't know what else to say. It's just, you know, every day we just kind of get this motion.
Amazon beaten up maybe because there's a fear that they're losing market share to Oracle today.
It's the only thing I can come up with.
Yeah, it was really interesting.
So, I mean, you hit on some great stuff there.
Great stuff there. One of the things, so we saw Russian drones and Polish airspace.
One of the things, so we saw Russian drones and Polish airspace.
We saw military movement, I guess would be the term, over off the coast of Venezuela.
And then there's also the stuff going on between Israel and Hamas and Qatar yesterday.
Market didn't care at all.
Market saw PPI and was like, okay, we're not worried about it, but we're still not buying up here either.
It's just kind of a nothing market, even though we've made new all-time highs.
Yeah. I mean, that's really what it comes down to. This market is just very complacent, right?
There's a good word for it. It's very complacent. So, you know, going into this week,
next week we have options expiration. We have CPpi tomorrow but again even if it's a hot number
i don't think the market's going to care because they're going to point back to ppi today which
was hot last time and coming down it was i mean that number was almost deflationary honestly when
you look at it and um you know it just doesn't care the this this trade around ai remains
extremely strong you know today it was core week wasave, it was Avgo, it was Oracle.
Google continues to be strong, right?
And they're just rotating around right now.
Microsoft and Meta are on the outs.
Apple's on the outs.
NVIDIA's kind of just hanging in there.
Yeah, it is what it is.
You just got to find momentum today.
For me today, I traded CoreWeave and Oracle.
Had really nice days with them.
And I'm back to flat here. I took the last couple of Amazon calls I had on off for a loss,
but I made nice money overall, and I'm still sitting in a stock there.
And that's it.
Is there news on 4Weave?
No, I think it's Oracle.
It's anybody now that is going to be selling capacity that people need.
They think they're rushed to it today after Oracle's earnings flash lane, what they said.
Yeah, that piece was interesting.
Feel free to chime back in, of course, at any point.
I want to go over to Sam.
Sam, what were your takes on, I guess, anything that's going on in the market, obviously, in general, but specifically, I know you dug into Oracle a little bit and then Rubric also reported.
And I know you've been watching that one. So I was curious to get your thoughts.
Okay, so not a position holder of Oracle. I do have position rubric, decent sized position. So today certainly
is not favorable on my side. And also, to be honest, Hoid was great summer yesterday. You saw
a bunch of new products being released, expanding its TAM. And Vlad is just doing the job that he
does best by building multiple products on top of an existing
platform. And now he's diving. That people can do trades off of, which is kind of eating into
Discord, Reddit, as well as the X. I mean, I don't think it's going to have that tremendous of an
impact, but it's certainly keeping users locked into the Robinhood ecosystem. I think at the end of the day, these other companies are going to be fine.
But at the same time, the company isn't exactly a very fast-growing company. Yes, it's growing at
50%. But on top of that, when I say fast-growing, I mean that it's not exactly keeping up with the
valuation that the market is demanding it. But we are in a bull market, so this could continue happening.
So the reason why it ended up going from very green to very red today, I can't really say.
I mean, the market's going to do what the market does, and we can attach whatever narrative
we want to it.
But at the end of the day, the fundamental long-term thesis with Robinhood still stands.
I haven't sold any shares.
I will be happy to add shares if we do pull back a little
bit i thought that pullback was going to happen the just earlier this freaking week like it was
at 90 bucks and i was like here we go time to buy more robin hood and then that clearly didn't
happen and now we're in like the 120s early today like so on you know i'm not gonna lie like i'm
still enjoying the upside on it but i i really want i really want robin hood at better prices
man same thing with nebius nebius pull back please you saw you saw basically yeah and they did a three billion
dollar offering and it went and they bought it right back that's just incredible no it's it's
because the market is understanding this is a capex heavy business right nebius nebius's core
business is building data centers like holy crap that is expensive even last quarter, $100 million in CapEx in the quarter,
which is almost more than they earned last quarter alone.
With this Microsoft deal, that's $17.4 billion
coming into its pipeline over the next five years.
$100 million in CapEx is not enough for a quarter
to be able to meet that demand.
So they're going to have to raise capital.
I've said it over and over and over again,
and I'm going to say it again.
I even said in a live stream that I did yesterday,
even on Amit's market close on Tuesday,
it's not a matter of if they're going to raise capital.
It's a matter of when.
I think the market got a little bit spooked by that
from the headlines.
Algos got scared.
They brought it right back up.
Because look, guys, it's a heavy CapEx situation.
That's just how it is when you're trying to meet AI demand.
They're going to do that.
I was hoping it was going to pull back, and it didn't.
So obviously, I'm not depressed about that.
It would be nice to add to Nebius, but I did not add.
If I'm going to add, it'll be around the 70 levels.
But I don't know.
Maybe it'll get there.
Who knows, guys?
Who knows?
Maybe the mark might hand you a gift or whatever.
As far as Oracle goes, I mean, dude, 359% growth for its backlog.
Did you look at that freaking chart from fiscal.ai?
It's like a freaking God candle right there.
Of course, it's up 26% to earn a billion dollars overnight.
You see, Larry Ellison deserves it.
He 100% deserves it.
He is executing the company on an extraordinary level.
So is SoftwareC Cats as the CEO.
You know, this is actually pretty funny because Safra Cats is the CEO of Oracle and Larry Ellison
is a CTO, right? So technically, I mean, Larry Ellison imports as Safra Cats. Nope. Larry Ellison
is also the chief of the board. So Safra, it's like, okay, okay, Safra, do this for your technology
team. Okay. Okay, Larry, do this for technology team. Okay, Safra. You know, it's like, okay, okay, Safra, do this for your technology team. Okay.
Okay, Larry, do this for your technology team.
Okay, Safra.
It's like that sort of weird situation.
Anyway, I keep thinking that's funny all the time, but whatever.
At the end of the day, it is clearly not a bubble that's going to burst today at this point.
Maybe it will from a stock market perspective, but a fundamental dude like how how you're you're about
to ingest billions and billions of dollars in backlog when it's billed to the clients over the
next few years and on top of that oracle signs a 600 what is it 300 billion dollar deal with
microsoft after microsoft just signed a 20 billion dollar deal with nebius like i thought that was
open ai i thought it was open yeah i thought it was open ai just i don't you're you're exactly
right just let's get the names right just for the hell of it uh hold on a second oracle i saw open
ai i saw the same thing i think earlier no no no so it is true that they support open ai for that
one but open ai gets all of its compute from microsoft or most of its compute from microsoft
so oh you know my bad my bad, my bad.
Asha, Mike, you are a hundred percent correct.
I apologize.
I apologize.
Sorry.
I saw the headline earlier.
I went through it, but anyways.
Dude, all good.
I just want to make sure we have it because that's, yeah, we have it right there.
Yeah.
But at the same time, the whole point is that you are continuously seeing demand come through
the door.
You're seeing these companies start to spend more and more money and everyone the whole
way up is going to say, this is the top guys. This is the bubble. This
is it guys. This is a bubble. This is it. This is it. Only to see the market continue going up.
So I think what you need to really ask yourself is, are you going to sit down and wait for that
pullback, which you need to be very patient or maybe it'll happen tomorrow. We'll see.
Or are you going to invest for the long term?
Now, short term, you guys are much better than I am, right? But when you see an earnings like that, you see Oracle up like 25%, $200 billion overnight, heading toward $1 trillion. Are you
going to short that? Shorting into strength? I don't know. That's just very difficult to do.
Short weakness, right? There's a bunch of charts that look very nasty. Like TTD is down 12% because Amazon and Netflix are teaming up so that Netflix can use Amazon
or Amazon ads as far as its demand-side platform.
TTD has already been doing that for Netflix.
Not exclusively, but they've already been doing that for Netflix.
And now Amazon ads are directly competing against TTD for that. Now, TTDD is an excellent company. I was actually about to type up two for this.
Jeff Green is an amazing CEO. He changed advertising technology to what it is today,
automation. It used to be very manual back in the days. Companies who wanted to automate it
have to build their own internal platform to be able to buy these ads and sell them at will on the auctions it was a very manual procedure and jeffrein introduced
automation he changed the entire industry when it comes to advertising but that does not mean
that he will always wear the crown in terms of a stock price valuation is very different
fundamentals in this case what we're seeing today is that the market is very scared that TTD is losing.
However, we have gotten more than a few confirmation from previous earnings that that is actually the case.
So I would actually say that if TTD continues to print terrible quarters, that is confirmation that they are starting to lose market share.
But we had three quarters so far.
They bounced back in the previous quarter, in the quarter before the previous one.
But in the last quarter, it really showed that it was taking a toll on them.
Does that mean that TTD is going to zero?
Probably not.
Does that mean that I'm buying TTD?
No, I'm not going to buy TTD.
But I am bullish on the company's fundamentals long term, but it's not necessarily a stock
I would buy.
So there's really a lot going on in the market today, considering that essentially the market's
closing near all-time highs.
The Qs had a new all-time high yesterday, which looked like they were not going to make a
new all-time high for a while, but apparently the beginning of September is actually a pretty
bullish week. So we'll see how the rest of the few days turn out. Who knows? But to be honest,
I'm not shorting this.
I'm not shorting this. Are you guys short? I'm not shorting this. This is insane to short.
Are you guys short?
I'm not shorting this.
This is insane to short.
Shorting all-time highs is the worst move you can make as a trader if you want to be consistently profitable.
But at the same time, I'm not an expert on it.
That's just from what I've seen and what I've learned.
So, I mean, with that being said, guys, I mean, I still remain bullish.
Very hard to be bearish this market until we finally get that confirmation breakdown below some
sort of big moving average.
We almost had it below the 50 day moving average just a week ago.
We didn't get it.
The market bounced back.
We had it below the 20 day moving average of market bounced back.
It's all about sensitive positioning guys in terms of market price fundamentals, different
story, but price.
If the market drops and people get very bearish and
people position for a very bearish market and it's on the market because there's stop lots of
big loss so anyways go ahead oh no you're good we just lost you for like two seconds there at the
end my bad dude i mean i'm not trying to speak being a trader because you guys are way better at that.
No, you're good. I love the thoughts. I think, you know, generally you're right.
I mean, no matter whether you're a trader or investor, I mean, all time highs are not not super a super bearish thing.
Right. But I do think personally, just from my eyes, as you know, as the trader up here, you know, I'd love to see what we're seeing
for a potential pullback,
which is this morning we were 24 points away
from the all-time high on the NQ futures contracts.
It was arguably extremely easy to go obtain,
especially on data,
and we just didn't.
Bulls couldn't do it.
That's 24 points.
That's nothing.
And I could have so easily done that.
And so for me, that's one confluence, not the only confluence I use for
trading, but that's, it's a decent, that's a decent tell to me for a little bit of divergence
here. Like we so easily could have made those all-time highs and taken out highs with what
our correlated asset ES is doing. And we're just not, you know? And so I find that interesting now,
now what's next for me is how is is how is order flow holding, right?
Are we respecting bullish areas on the higher timeframe or not?
And as of now, NQ's trying to run through some of these spots I have.
But ES, ES is still respecting.
ES has all the way to 65.17 for me personally until I can really, there I can flip my thoughts
bearish and I can start to think, okay, maybe we are starting to come in.
But I'm with you, Sam. I think we're in a period right now where it's like, okay, it's,
it's a little shaky. We've been consolidating a little bit more on, on our assets than,
than we have in the past, right? Things have been a lot more back and forth in this range,
which I think has made people a little, I just off-sized right now. Um, and that just goes to
what options Mike was saying earlier that this week has been tough. I agree. I think this week has already been a bit tougher.
Of course, we have a few more days left.
But it makes sense, right, given the range that we've been trading in and the type of
areas that we're seeing.
So I don't know if you had any other thoughts real quick, Sam, or else I could text it around.
I just wanted to add that also, I know a lot of what I've been talking about, especially
during this panel, is really centralized around price movement and trading, right?
Because let's be honest, the majority of the people here are for it.
A lot of the panelists here for trading as well.
It's very nice and enticing to talk about it.
But let's not forget the fundamental side, guys.
Fundamentals will always win in the long run.
In the short term, it is always sentiment positioning
right if everyone is positioned for a bear market it's very unlikely you're going to get a bear
market and that's what that's why we didn't make lower lows in April because so yeah go ahead
let me let me have something I have you know if you've ever been through a bubble period
you know they tend to end in big blow off tops so you know they don't
end in like this they tend to get a big sustained move that everything just gets including the index
gets out of whack extended you don't have that here you know you know so if you can get a decent
dip you buy it for now but you need to be aware of that where you know some of these some of these
things this action is entering that kind of mentality. You're right. Fundamentals will eventually win out, but they tend to end with big blow-off tops, not on a whimper. And we don't have a big blow-off top anywhere in this market at this point. Go ahead, Sam. Sorry, which hopefully we'll do five days a week at some
point. But this is the reason why the show is so great. We have a mix of traders, head fund managers,
fund managers, and so on, even fundamental investors like myself, even analysts too on
Wall Street like Shy and Future of Equities. We got a mix of everyone here and we all put
our ideas together and we're not giving actual advice that you all need to do right now based on all of our theories it's something that you need to do you need to
hit the buy button you need to hit the sell button that's what you should do as an investor or trader
right we're providing we're not providing advice we're just saying what we think we're saying our
thoughts and we're just saying what we're doing right so you need to make that decision you're
on and there's a lot of people who have messaged me like, I'm not going to pat myself on the
back.
Right.
Like, so I've been talking about Neveus and so is stock talk.
We've been talking about it all the way down to the low twenties.
Right.
And we were heavy buyers around that time.
And then now look at it.
It's near a hundred bucks.
Right.
And people are saying it's going to go higher, which is great.
I haven't sold anything.
And then like people message and everything.
It's like, oh, thank you so much, which is great.
Like, you know, I'm so glad you're making money.
But at the end of the day, guys, you're the ones who hit the buy button.
You're the ones who made the money.
Don't discount yourself.
You guys deserve the credit because you're the one who's making the money because we
are not managing your money for you.
You are.
But you're making it with informed decision making on top of what you're hearing in this
panel today.
You're not making decisions based on what we say, but based on the theory and the facts
that we provide and
our opinions and you just you guys got to thank yourself right you got you guys really got to
think yourself that if you're doing well in this market that you're outperforming then that's that's
because of you right it's not because anyone's because of you you're doing a great job so i just
want to say that love it sam yeah some great thoughts. And just for me personally, too, when I look at this
market and we hear the term all-time highs aren't really bearish, wow, that is 1000% true.
We've also been continuously making all-time highs for a while now, right? It's not like
we're first seeing all-time highs for the first time in a while. And that's where I think seeing
some structure built like this, where we're going sideways, it's definitely it's a tell that
something's going to happen soon. Right. And I've seen this plenty of times on the way up on a
slightly lower time frame rather than a daily more than more on a more on a four hour or an
hourly. I've seen this happen plenty of times and it's resulted in us, you know, faking out the lows
and another leg up every time. So maybe that happens again. Maybe we
may, maybe not. Maybe we get a little short term pullback here, get some, get some volatility
heightened back up again. We've had these pockets of volatility spiking, but no real,
no follow through on it. And I know, I mean, us traders, we love that. I know it's tougher for
the investor side of things, but I think it brings a whole lot of opportunity that we can capitalize on there so some good stuff let's get uh what else we got in here wolfie what's up wolfie what
are you looking at right now how's the day going uh great i you know i uh you guys asked i think
it was em that asked about core weave i mentioned it yesterday at the end of the day whenever I was speaking.
I was talking about how it bounced off of the Nebius news,
and then they had an AI strategic arm, basically.
And it caught a bid.
I mentioned it was trading through, you know, at that 05 level.
And that had been resistance, and I was looking for it for, like,
an Oracle derivative, possibly. Same thing it did for nvidia worked out better than i expected it was just a trade i
cut it um but more materially i i booked a lot of i've had you know longer term positions on for
a couple of these names like or and Avgo, for example,
like four or five year positions for me.
So I've closed a pretty large amount of them today for me.
I'm kind of, you know,
I know StockDoc was kind of confused yesterday live in real time about where
this, where the money was coming from. I was kind of, i'm kind of the same way number one number two i kind of feel like
you know if it isn't i don't want to well we found out today right will we yeah but i'm gonna say it
a different way um so if you go back and you read anything from the late 90s, Ellison had a history of just kind of like really over promising and ramping up, you know, numbers and then falling short, for lack of a better word, sometimes.
So I don't want it to be a case of that in the near future.
The second thing is, you know, most of those large spends are coming from, you know, a handful of places.
And if you're capturing the majority of it on the front end, you're just basically pulling it forward.
So you really need to capture the entire landscape, in my opinion, in order for it to actually kind of justify some of these moves that you've seen.
So, you know, it's been a great trade.
I feel like there's other, other places where the risk reward might, might set up a little bit better. Maybe, you know, on like, you know, something like Nebius, if it were to really
pull back, I'd like redeploy. Maybe something like Cisco, which is like the boomer side of
networking. So I'm looking other places. i just feel like sometimes you get these um really wild
things that happen that you don't expect and you know i'm i was the beneficiary of it so i'm not
i'm not talking about it like i missed anything um but yeah you know i was buying for example about
275 calls for like two bucks and you know here they. What are they trading for? Like 60? You know, that's not that's not a normal move for a company the size of Oracle.
So I feel like when you're handed situations like that, maybe it's a good time to reassess.
So for me, I've reassessed. Maybe I'm wrong. Maybe there's a lot more legs and I'm just kind of like playing it cautious.
but I'd rather be cautious than regret it.
But I'd rather be cautious than regret it. Outside of that.
Outside of that, yeah, I think, you know,
I saw some things about this soft inflation number that came out,
but there's like a mixed thought process about it
where some people are saying there's certain things that are exempt
that are like on the tariff side and that could show up in tomorrow's print.
I don't know. I'm not an expert on it, so I'm not going to pretend to be.
But we'll see if that plays out.
I will say that it isn't ideal to have some of the headlines that people are looking for
and then effectively create a double top in the NASDAQ.
That's not ideal. it's not ideal to then
you know go green to red across the board on the indexes while the vix kind of gets bid all day
um so i you know i think at this point it's probably i've been saying this for a few days
it's not like anything new you to me it's like you find stocks or you find levels or you find
things that you want to trade and you trade around that
uh but i don't think that it's something that i want to go like full tilt you know lever into
right here right now like i'm going to miss something um the other thing that is like kind
of worth no uh kind of worth paying attention to is you know some of this rhetoric around this
poland thing i don't know what's what. I know Trump tweeted about it or
truthed about it, whatever you want to call it this morning, which makes me look that way.
I do think there might be some mispricing in energy assets potentially, because that's usually
what people start to bid in terms of conflict.
So there might be some mispricing there. I also think there might be some mispricing
in volatility on a short-term basis. I think still like midterm, it's still pretty
hedged out, but I think on a short-term basis between now and next week so i think you know i think uh you
just got to be tactical um it's not i don't want to chase things that you know up 50 on the day
if you're scalping it for trade great like but for me i'm not trying to do that for in terms of just
like levels just something to pay attention to i took a trade on um on tesla today to the lawn side just for for a day trade but if
you you know i posted the chart on uh my feed earlier so if you want to go through and find it
go for it but if you just pull up a chart and just zoom it into like on the hourly basis
that 356 357 level on tesla has been resistance now for three months, almost two and a half months conservatively.
You know, if we break out of that level, that three, we're basically we're tagged today at
the highest. We break out of that range. You basically got a $10 upside pretty, pretty cleanly.
And then above that 367, 370 level, I could see a situation where, you know, they start to bid that name
up again and try to chase performance. It's worth noting that one in the, you know, second
half of this last quarter, because for me, like in a year like we've had this year where
a lot of people have been offsides both ways, there tends to be some sort of performance
chase, you know, assuming you don't get some, something that really washes everything out.
There tends to be some sort of performance chance at the end of the year. Tesla is one of those
names that they kind of go after. Sometimes if you go back and look at last year, for example,
they really chased that one into an all time high. Uh, I'm not, I'm not saying something like that's
potentially going to happen, but it is one of
those names that they like to come back to. And then the last thing I want to touch on is,
it's pretty obvious. I made a comment yesterday about Apple. I don't understand the point of
having the event the way that they have the event.
If all you're going to do is put out a new SKU, I really do think that they kind of missed the
mark here. You know, it was pretty, it's pretty obvious sell, pretty obvious short. I think I
wasn't alone. I think some other people shorted it as well. You've got on Apple, you've got this,
what's the level owner? You've got this level that it's trading at right now on an hourly basis as support, but below that, the level to look for is that 221
level, 220 level on 200 day. I really do think if it kind of gives way there, I just don't know
where the buyers are going to step in between there and like 210, right? So it's not something
I want to get in front
of especially given the move that it's had especially since you know this one's had uh
multiple expansion while their their actual uh core numbers have deteriorated for years now or
at least gone sideways right um and i don't it doesn't seem like there's any kind of you know
if there's any kind of, you know, any kind of visibility on what will excite the market in the next, you know, six to seven months, maybe that changes with they have an AI event, and they come out and they blow people away. But I don't think this is one that you could you're going to be like, wishing that you held in the short term. I think it's like one of those things that like, you can pick your spots again and try to trade around.
So let me see if there's anything else.
I think that's it.
I mean, I mean, that Robin Hood event.
Did you did you watch any of that?
I don't have, you know, I bought Robin Hood like low double digits, but I don't have this.
I'm not like Stock Talk.
I don't have it as a core position for me. So it's not something that I monitor. Um, so for me, like the core position
that I've done that traded like that has been, it was Palantir before I sold it. And now it's,
uh, HIMSS. So I tracked more of the HIMSS side. HIMSS, I'll speak to you real quickly. HIMSS has,
um, they're allegedly going to come out with uh testosterone uh replacement therapy
direct to consumer type thing so we'll see if that if that's another driver for him or
nimes for robin hood the only thing that i saw in the event i didn't pay attention to it nearly
enough because again it's not like a sizable position for me but the thing that i found
interesting which i didn't know because i don't use robin hood but i didn't know you could short
robin hood so i thought that it was interesting that that was like the big deal. The reason that I found it interesting though,
was, you know, we see all of this gamma positioning and like the squeezes that we had
when we had the zero DTEs and things like that kind of benefit Robinhood retail traders.
And I kind of think that if they are going to be like a marginal seller at any point,
that's something that I'd want to just kind of like bookmark.
But it's not anything that I'm paying attention to.
In the same cohort, though, the GME thing is interesting where they're going to issue warrants,
gme thing is interesting where they're gonna issue warrants um kind of that which kind of
feels like a little financial engineering by them to potentially try to squeeze it again one way or
another but i don't i don't know i don't have a gme position i don't know enough about you know
what the what the exercise price is and all that stuff but that's you know that's kind of it for
me so i'll just kind of leave it there i think i'm pretty sure stock talk can give you uh whatever his thoughts were about uh robin hood is like i think
it's like a core position for him yeah it's um it's funny i don't know when i was looking at the
events like they had some cool ideas they had you know i think the custom indicators was pretty cool
the custom scanner idea i think is going to be super helpful things like that i like but
so can i like short selling it's like short selling, it's like short selling,
bro. That's like the first thing you should have.
I feel like maybe that's their game plan is,
is making us wait for the most basic things. And like,
that's why we get excited for it. I don't know.
Maybe that's part of their play, but it's just funny. Cause you're right.
I got excited for what? What's up?
But Jordan, I mean, they, I mean, they, they were always, you remember, I got excited for what? What's up? We're buying very valuable.
But Jordan, I mean, they were always, remember, I mean, I hated Vlad.
I've given Vlad a lot of credit now because when they first came out, they were like, ooh, buy a stock.
You get all these sparkly rewards and things go across your screen, right?
They have completely changed who they are.
They have completely, they're going to take over this space for this next generation.
I think they're going to become the broker of choice moving forward.
And so they're starting to add all this stuff in, but they haven't had to yet because they haven't had the serious trader.
Now they're starting to attract their attention.
That's true.
And I think that's important.
That is a good point.
Yeah, I just, I like to see them, you know, dive more into that active trader side of things, because that's kind of what me and Amp were talking about.
It's always been, you know, tailored to the average investor, which makes sense.
That's their market. That's their it's their customer, you know, but I would love to see them step in a little bit more.
And it looks like that's what they're trying to do. Real quick on the AI thing. So I don't I don't have I don't have any like partnerships or any sponsorships or anything like that.
I don't have any partnerships or any sponsorships or anything like that.
So I'm not talking about it from a sales pitchy type of way.
But I saw their AI.
You can tell it and it'll mark the highs.
I think that was the video that I saw.
But I know that TrendSpider has certain tools like that where you can kind of script your own stuff.
And I think that though it's unique currently,
I do think that over time
that kind of stuff's going to be industry standard.
So the more that they can layer on to stuff like that,
the better that it's going to be for their core user,
the millennial Gen Z type specifically.
And I would just say that there's going to come an inflection point.
I don't think we're anywhere near it,
but there's going to come an inflection point
where all of this layering tool on top of tool on top of tool
becomes too noisy for average
individual people, which is where they're going to have to have, you know, their core product,
their core like, you know, trader platform, really kind of be buttoned up completely.
You know, again, I don't use it. I've never used it i use uh some other stuff but uh i i do i do say
i will say that that's a it's a unique thing to kind of like get people in but i they will have
to make sure all the other things are buttoned up and if it is great i think it's like a good little
add-on thing but i'm seeing it become like ubiquitous with other you know tools and platforms
as well did anything announced last night move the needle for y'all?
For me, no, but I'm not, I'm not a sheriff. I'm like,
not an aggressive sheriff.
Stock talk. What about you? I want to hear from you.
Did it move the needle for me on the things that I want?
Unfortunately not.
You know, I think the features were impressive. Yeah. I mean,
Robin hood's my third largest position in my portfolio. You know, I'm the features were impressive. Yeah. I mean, Robinhood's my third largest position in my portfolio. I'm a huge fan of the company. I, I think they're going to capture hundreds of billions, if not trillions in AUM in the next five to 10 years. Like, I don't even think that's an, uh, an over exaggeration. I think, in fact, over the next 10 years, it could be trillions.
an over-exaggeration. I think, in fact, over the next 10 years, it could be trillions.
And so from that perspective, I think the tailwinds for Robinhood are too strong to fade.
Like, even if management's execution cadence isn't this high, and the execution cadence
in the last two years has been, you know, maybe as high as any stock in the market outside of,
like, Palantir. And you look at both of those names and look how they've performed in the last
two years, right? That's all execution cadence. When you're a stock that
has like a lot of speculative premium built in, a high percentage of retail shareholder base,
you get rewarded for fulfilling that speculation, whether or not there's immediate earnings impact.
And both Robinhood and Palantir have done a great job of fulfilling the speculative expectations of their shareholder basis.
That leads to stocks going higher.
And it also leads to valuations in many cases that people look at and they're like, what?
This makes no sense, right?
But they're nearly impossible stocks to short and they grant higher and higher and higher because they continue to meet the expectations not of the broader market
but of their own shareholder bases and so i think robinhood continues to do exactly that and i think
last night's event was another sort of service to their broader share shareholder and broader user
base but i mean all i want is a all I want is a comprehensive watch list feature.
I don't want custom scanners.
I don't want anything else.
I personally, and maybe that's just for the way I trade,
I want a comprehensive watch list feeder.
I want better P&L charts,
which I looked at the P&L features they were sharing last night.
Adding the social features is cool.
Doesn't change their P&L features.
You can't really look at your p&l comprehensively
and like make analytical adjustments based on your p&l time weighted and money weighted return
you should be able to view both of those across any time frame uh you should be able to view them
against benchmarks like indexes anyway i want i want those features glad hopefully you're out
there hopefully you hear me one day i know evan um you a lot, so maybe I'll tell Evan to tell him next.
But, yeah, I think they're a great company.
I think they're executing.
I thought the event was awesome.
I'm not a huge fan of the social thing.
I think it's probably going to go a little underused initially.
Maybe I'm wrong about that.
But everything else I thought was great.
And I remain a shareholder.
I have no desire to sell that stock really for a long time i mean i think the again
the secular tailwinds for them in the next five to ten years are way too strong it's way too much
money getting inherited by young kids what's up sam dude it's so funny how we were literally just
talking about that the other day and like we were on here the other day just talking about like
how robin it's like dude we just need this little super feature, right?
And we both got into a little debate and whatever.
And when I was watching the event yesterday, I wish I was there.
A lot of the Wolf guys were there, which is awesome.
I was there.
Chris Patel was there.
A lot of great people were there.
Sorry if I left people out.
But I thought that was – there was one point when they were showing – throwing the social network and showing all these features.
I'm like, it's happening.
Stock Talk's going to get it.
He's going to get it.
It is like an easy layup right here.
And they didn't do it.
And I was thinking, oh, that's like, wow, the one thing.
And the features they did introduce, Sam,
are way more complicated to code.
I know.
Like, you know, we were having the debate about like, hey,
you know, it's not that easy to code these features.
The features they introduced were way more sophisticated than what than what i want and then what a lot of other professional traders want like i thought the same thing
stock taco it was like wait we got all this i was like you built a social network dude i want
a watch list bro i want a watch list i want an excel i wanted i wanted a p i wanted a P&L like picture. They got all, we got a whole social app.
Give us a P&L card.
That's it.
Not even, no, I don't even want the cards.
I want, like, I want to be able to view my P&L across.
No, I get you.
Yeah.
Yeah.
My bad, my bad.
And I want to view time weighted versus money weighted, right?
Because I want to know how I'm performing versus the market benchmarks.
I want to know like, hey, do I need to be more active in this period?
Like, could I be juicing out more performance? I like to analyze my own performance. Yeah, I like to share it, too, with the public to be transparent. I think that's important. I advocate for that all the time. But it's not just about transparency. It's also about self-analysis, too. Like, hey, in this quarter, what does my performance look like versus the previous quarter? What did I do differently this quarter? You know, was I in different asset classes? Okay. Like, you know, I can make, I can make
decisions about portfolio management for as a professional trader, for me, that matters.
Now for new traders, I get that that's not important, right? Like most new traders aren't
looking at breakdowns of their P and L on a quarterly basis, or like trying to benchmark
their performance against previous years that they've traded or
invested. Most traders don't care that much, but I do. And I think there's a handful of traders.
If you've been trading for over a decade, there are things that you are indispensable to you,
right? Like, and for me, customizable industry-based watch lists, like I can't trade without
that. I just can't't and it's part of the
reason why i can't use robin like i love everything else about robin i just can't use it because they
don't have that feature and it's such a simple feature but whatever i may end up talking about
this for years and then dude it's so funny like how we just thought guys sorry i got caught off
over a timer went off um but uh it was so funny to have him. But I do think that what was really cool about the social feature was not maybe as beneficial for power users of Robinhood, like people who are on this platform, if you do use it, or people who are listening, if you do use it.
But it's more of that part where they said that you can share the link that goes directly to the trade of Robinhood on any platform, Discord, Reddit, X, whatever.
And that'll provide a link where you can click on it and go straight to the trade in Robinhood on any platform, discord, Reddit, X, whatever. And that'll provide like a link where you can click on it and go straight to
the trade in Robinhood. Dude, that is money for them.
Like you're providing a gateway to pulling new users who are not part of
Robinhood through, I guess they're going to integrate some sort of referral
link to get in there, whatever it is, how they're going to do it.
That's the game for that.
I don't think they're really trying to build like the entire stock twits version and robin or whatever yeah that'd be cool
and everything but it's like dude i don't know they're trying to increase engagement and yeah
get users to buy more stuff yeah and that's i agree look they're doing a great job of that
they're doing a great job of maximizing new users maximizingizing features for existing users that'll get them to deploy
more capital to the platform, all of that stuff they're acing on.
And that's why the stock is acting the way it is.
But I'm just speaking selfishly from the perspective of somebody that wants to use the platform
because I own the stock.
But there are a handful of very simple features that aren't there that I need in order to
do that.
So, you know, maybe I'll get those at some point. maybe I won't, but either way they're, they're executing very well. And like,
it's the thing with finance is it's so easily disruptable because the legacy juggernauts in
finance don't have innovation cadence at all. Right. Like they don't, whenever there's like a
big change in the financial world, they not only are slow to adopt it. It usually takes me a year
or two years for the legacy financial institutions to adopt it. In the
case of crypto, it's taken much longer. But not only are they slow to their feet to adapt these
new trends, they're rarely, if ever, the innovators of those trends in the first place.
And in the financial world, that wasn't a problem for decades, because the amount of assets that
these companies controlled was so overwhelming that it didn't matter if they were innovating, you know, if they were on the bleeding edge of financial innovation or not.
In fact, look at a lot of the quote unquote financial innovations of the last decade, crypto, BNPL.
I mean, I don't want to call that an innovation, but it's a trend at least, you know, like digital mortgage providers, digitization of finance in general, has that come more from
the incumbents or has that come more for the smaller, newer players? The answer is very,
very clear. It's the latter. It's come from these lightweight fintech companies that have software
focused models, much smaller workforces that have built interesting products that were then
piggybacked by companies like PayPal and these bigger financial juggernauts
it's part of why the growth and the stock performance is in the smaller
FinTech names in the prior five years and not at all in the big FinTech names
right like if you look at smid cap verse large cap performance and like I don't
know look at it in all the sectors this is just a hunch like, I don't know, look at it in all the sectors. This is just a hunch of mine.
I don't know if the data is accurate on this, but I'd be curious.
I imagine the gap between mid cap fintech performance and large cap fintech performance
in the last five years is pretty massive.
Maybe even bigger than any other industry.
And there's reason for that.
And the reason for that is A, the lack innovation, and B, this idea that we talked about this concept yesterday, that the newer generation is much more self-reliant about their finances, and they're much more empowered to be self-reliant.
You know, in the 70s or 80s or 90s, if you were somebody who was like a smart guy and you're financially literate and you wanted to take control of your own finances, even if you wanted to, it was very difficult to do so back then. Like, you know, my friends,
I've talked about this before, my cousins who live in Canada, as recently as 10 years ago,
forget 30 years ago, 40 years ago, as recently as 10 years ago, they were calling, calling on the
phone their TD broker to fill an order, telling him the price to fill it at and calling him.
And then he would ring them back or message them back when it was filled. That's as recently as
10 years ago. They're just regular investors in Canada. They're not like big time investors or
anything, but they, you know, they're involved in the market. And so you look at the pivot from that
and you tie it with the behavioral trend. Even if you don't believe there's been an increase in
self-reliance in terms of consumer behavior, which I do, even if you don't believe that, right? Let's say you,
you keep that at the base case, people are now more empowered to be self-reliant. And so
the trend goes up, right? Because you, you add ease of access to a group of people, you know,
if you want to model this, let's, let's say you just assume that, you know, 30% of American adults
have the intention of being self-reliant with their finance. That's not a real statistic. I'm
saying let's just play with that statistic as let's assume that was the number. If you knew
that was the number and said, okay, the ability for that 30% cohort to actually actively manage
their financial portfolio was, you know was magnitudes lower 10 years ago
than it is today, what does that lead to? That leads to more people keeping their money and
managing their own money. And that's like a mega, mega trend. And that's why these smaller companies
have seen so much growth. And Robinhood is obviously the biggest example of that. It's
no longer a small company at all. So yeah, this trend is not one that you can fade and it's just going to like snowball is going to keep growing as more and more millions of retail accounts are open.
More and more leverage is added to the system.
More and more inheritance money flows to, you know, these younger generations.
It just compounds.
Yeah, I couldn't agree more illogical i see you
popped up here you got any thoughts on the convo so far
if you're around might not be around yeah no i'm here sorry i'm not worried you're good my damn app
i'm like looking at a bunch of stuff 10 minutes till close so there's a lot happening into the
back half of the day right now. Lots going on, yeah.
I just exited a position about 30 seconds ago,
so I was just handling that.
So I think what's really notable today
is that the market faded a very, very big green day,
especially after you got such an incredible report from uh oracle i think that's
notable you had an ice cold ppi um 10-year yield is down trying to crack below that four percent
levels basically the lowest it's been in six months uh this market and what i'm thinking right
now is how funny is it that just a few weeks ago people were on here telling you oh we're you know we're i don't even know if we're gonna get a rate cut and now we're pricing in you
know a possibility of four so you know i i think always just fade the narratives the narrative is
always the last two years the entire thing has been back and forth from reflation to recession
that's it those are the two narratives and this is a pendulum that swings from one side to recession. That's it. Those are the two narratives.
And this is a pendulum that swings from one side to the other.
And every time we get too crazy on one side,
you want to fade that narrative and go to the other side.
So anytime somebody says, oh, you know, reflation is an issue.
And then, you know, you take the other side of that bet
and you're going to do pretty well.
And now, you know, because we went from pricing in one cut
to now, you know, three or four.
And then now it feels like, especially with such a cold uh ppi you're getting oracle report
today really nice day but the market just you know gives back fades all of that that game yeah i wonder
now if people are going to start thinking oh well you know the underlying economy outside of this ai
capex which has been the story is you know weak But the question is, is it weakening too quickly? And so now are we going to start getting to this
point of like, oh, no, slowing economy, we're going to get a recession and blah, blah, blah.
And then you're going to want to fade that one too. So, you know, I think it's actually great
because it's pretty healthy. And what I mean by that is, you know, it's a balancing act.
You know, you go to this side and then you go to the slowing side
and then you go to the heating up side
and then you kind of do this dance back and forth,
which is basically saying that over time you're kind of like,
you have like this harmonic motion where the equilibrium is,
you know, you're just around this equilibrium of like the
the market and the economy are just going to kind of chug along so uh i think that's good uh because
naturally what will happen in those parts where we hit those extremes are you're going to get
sell-offs and you know one part of the market or the other and there's like this regulating action
um so i don't you know i'm not really too concerned obviously the
numbers are pretty bonkers as long as that backlog from oracle really does show up then all the you
know dot com bears can probably um take a seat uh but yeah obviously you're going to want to see
those things actualized um you know are we at a point though that we're going to start pricing in
a ton of uh that upside and will it materialize will be the next question
but for the time being everything's smooth sailing um you know so you're gonna have to wait around
and watch and see but you know with a guide like that you gotta imagine that we're probably gonna
get a melt up um and you know depending on how severe that melt up ends up being that will
determine you know how much longer this
bull can go before we get some sort of significant pullback because you know I think everyone's
expecting you know 5% pullback or something and it just not coming and the market grinds
higher and higher so the longer it goes without a 5% pullback means that probably that in
the pullback when it comes inevitably will be deeper. So yeah,
I mean, it's a tough game. And I'm not in the game of guessing. I'm just in the game of being
long in a bull market. And I think that's probably what's best for people is to maintain your
exposure. Like right now, I'm sitting at 100% long. A lot of times when I've been on these
spaces, I've said, you know, I'm 150% long, etc. I'm very comfortably fully invested and I can live with that decision.
I won't feel FOMO missing out on name A or B running off without me,
but because I have equity exposure
and that's all that really matters.
I'm not gonna fear a 5% pullback
after I'm up over 100% year to date.
That's just, who cares?
So what I can also say is,
today's price action is a little interesting that we faded quite a bit.
But I would say that the same exact thing happened after Microsoft and I think it was Meta.
They both reported on the same day, this last earnings cycle, and the market was up like 2% gapped up.
And then it basically gave all those gains back by the end of the day.
And, you know, the market basically consolidated and went slightly higher ever since so you know i i think
gap up on like a market level is obviously in my view i don't like gaps um so i'm okay with you
know intraday filling the gap and then chugging along and consolidating and you know as long as
there's no like red flags where this market's just going to break down and you know oh no i'm very concerned uh yeah am i overly aggressive right now no obviously not i
think deals are um fleeting uh there are still parts of the market that have good value and
if we continue to see rotation into those parts of the market that'll be wonderful and that's how
i'm positioned because i think that's where the value is uh that said i mean i we you know we're getting you know the 10-year kind of collapsing here and
um you know you get that old kpi print but you know the housing names really aren't working
which is kind of like it's a little frustrating i would say because i feel like today's a day
that they should have been shining so um other than that you know if you're in the bios definitely
um you know i think you can do really well, regardless of what the backdrop
is, because the assets themselves trade for very cheap. And I
still have probably like over 30% of my portfolio there, a
quarter of my portfolio in housing, that kind of thing.
And I've been kind of increasing some of my exposure in tech
actually, depending very selective, obviously. Yeah, I
think a name like galaxy is set up pretty nice here, Galaxy Digital.
Not only is that chart kind of shaping up, it's a very frustrating thing to trade, and
the IV is really high, so I'm staying away from options.
But from a shares perspective, it kind of makes sense.
And obviously, I think the two biggest pieces of news today is that Oracle thing that we
mentioned.
AI Data Center is definitely a very big theme right now.
And then you think about the Nebius partnership with Microsoft.
Those are two very big pieces of news this week.
And I know, you know, Stocklook had a good point yesterday.
There's a lot more pressure on the other names in the market to deliver on upcoming data center projects but i
think what's especially interesting about galaxy is they already have an inked partnership with
core weave for 800 megawatts of uh basically data center capacity which they already have the energy
for uh the energy contract signed for so they do have another 1.9 gigawatts of data center capacity to lease out.
But obviously that's going to take some time because I don't think necessarily the demand would be an issue.
But getting the energy approval is where I think this can kind of hold up.
But just given that CoreWeave deal and also the crypto side of the business, I think crypto looks like it'll probably bounce from here.
I'm not super long into crypto right now.
I've only had my ETH calls.
But I've been wanting to add to that position.
And I feel like Galaxy is a pretty decent way to get both the data center exposure as well as the crypto exposure.
And it's something that's just been kind of consolidating and sideways and frustrating
both bulls and bears.
Kind of reminds me of like how a Tempest AI trades.
Like I generally don't like these popular names in the market because they become extremely
frustrating.
So if it does lose momentum and blah, blah, blah, I'll probably be out of the trade.
Because I do treat this one more as a trade but yeah i think it has two very good um uh themes here with
crypto and data center and it feels like one of the more legit um names in that kind of space so
yeah i mean i know other people will say oh no iron or cypher or you know all these other bitcoin
miners but i just never liked the bitcoin mining businesses and their hpc percent of revenues are I know other people will say, oh, no, Iron or Cypher or, you know, all these other Bitcoin miners.
But I just never liked the Bitcoin mining businesses and their HPC percent of revenues are really low.
So, you know, I'd like to see kind of that expand before I can make a fundamental investment based on any of that.
I'm sure I'll get hate in the comments, but I don't care.
Logically, I was just going to say, come, everyone knows what I say here.
Come join me in BMNR.
The water's warm, it'smr the water's warm it's beautiful you know i'm not i'm not mad at that actually um but the problem is
like i think i'm wondering if all right here's the issue with the bmrs and the s vets and stuff
like that i think they were cool uh in the beginning and i think the problem with them is
that everyone and their mother is now doing a treasury strategy.
So when everyone is doing it, you lose the premium.
And that's the issue.
I mean, just look at how MicroStrategy has been trading.
It's been trading horribly.
And it's because the more you have of them, the less rare that opportunity becomes.
And so you no longer get to, you know, get a two, three times NAV multiple because of, like like this financial engineering you're able to do
uh but bmr you know i'm not against it uh but there is a big unlock if i'm not um if i'm not
wrong uh in october and we're in september now so on a fully diluted basis it's not as cheap as you
think it is i believe but i have to go run the numbers again just to confirm. I'm not mad at it. I think BM&R, SBAT seem like pretty decent ways to get Ethereum exposure.
But you could also just lever up Ethereum through calls or whatnot.
So, you know, multiple, what do they say?
Many ways to skin a cat.
I never really understood that saying.
But I think it's Tom Lee.
He made Thrilla.
That's definitely one of those saying that came from like
1752 and for some reason we still say it you know uh you want to know something funny
you know where they say uh it costs an arm and a leg you know you know where that's from
i i learned this a while back and it was pretty funny um you think it sounds like oh you have to
like give up your arm or your leg uh to to buy something or whatever that's how much it costs
no it meant like back in the day when people would get portraits and it was like just their
head you could either get your torso or your full body and that
would cost you an arm and a leg so there you go
there we go that's all i took from the advocate oh we got a market did close we
got a shopify formate with this i've tried i've tried to get my mind around the treasury companies
i just can't do it it doesn't make sense to me i just don't like it transparently in new york i
cannot stake my ethereum so there's a three percent dividend that it's giving off that i
cannot get and the only way i can get it is through these other assets.
So someone could correct.
But so then under that theory.
Okay, so like, let's just talk this out.
So if the theory is, is, okay, I can't stake my Ethereum and Tom Lee can do it for me.
Then shouldn't the NAV premium only be slightly higher than so here's another one i was talking
with an institutional investor yesterday and they're not allowed to buy ethereum they're not
allowed to buy a lot of this other stuff directly but they are allowed to buy a theory uh bmr and
ethereum treasury treasury companies so a lot of these are kind of like moments in time weird
stuff through the regulation but that is another thing all these institutional investors a lot of these are kind of like moments in time, weird stuff through the regulation. But that is another thing.
All these institutional investors,
a lot of them cannot buy Ethereum directly.
Wow, didn't know that.
Yeah, I thought we were past that.
I didn't know that that was the whole thing.
I mean, I don't know.
I just don't get why people can't buy the underlying asset
instead of having Tom Lee or Michael Saylor do it for them.
Like, I'm not saying people should not be bullish Bitcoin and Ethereum.
That's fine.
I mean, clearly they've become indisposable parts of the financial ecosystem.
Why not just buy the asset or find ways to leverage against the asset?
You don't need to have someone else buy it for you.
I think the issue becomes that in the early stages, these are very attractive for multiple reasons.
comes, that in the early stages, these are very attractive for multiple reasons. In some cases,
because of staking, in some cases, because people view them as a higher beta exposure to the
underlying asset. But eventually, like where micro strategy is right now, where you face
some tough decisions, you face tough decisions on the aspect of dilution versus accumulation.
In the initial stages, it doesn't matter, right? Because like, if you're a $500 million company, and you're like, you know, we're announcing a Bitcoin treasury,
and we're taking all of our spare cash today that we have with 100 million bucks that we have,
we're buying Bitcoin with it. And then next quarter, we're going to raise, we're going to
dilute, and we're going to raise and we're going to buy more Bitcoin, right? Like, that's the
general gist of how a lot of these smaller cap treasuries have started.
There are some exceptions to that, but that's a general gist.
If that's the program, then eventually, if that works out and the company gets bid and becomes 100 plus billion dollars company like MicroStrategy,
now you need to offer a lot more capital to make meaningful accumulations.
Right. And like we saw with MicroStrategy, they're like, oh, we're going to do $221 billion over this period.
And they exhausted both of those way ahead of the described time horizon.
Then they announced and said, you know what?
When shareholders got pissed, they were like, we're not going to dilute anymore, you know, unless we're at whatever MNAV they listed.
I think 1.5 or 2 or whatever they listed as the MNAV to sell.
And then they took that back and raised anyway.
And it's like, you know, that it becomes difficult because you eventually face,
once the company gets big enough and once there are institutional players involved,
you're going to face this perpetual challenge of saying,
do we dilute shareholders to buy more?
And is this the right shareholders to buy more? And is this the right
time to buy more? In fact, one thing I want to say is, quickly, BMNR has a target of getting
to 5% of the total supply. So I think that changes a little bit. And I don't know what
it looks like necessarily at that point. But this conversation will maybe shift away from
dilution to you have 5% ethereum how can you make more money
from that they're also going on ventures too you saw with octo i mean i i don't want to start a
conversation there but they're obviously also going adventures but also for some people too
you can't sell covered calls in ethereum so you know i mean that that's you guys i i get i'm not
i'm not seeking justification for like what they
can do that you can't do.
I agree with that.
There's a bunch of things that Tom Lee can do with his theory that you can't do.
Cool.
Fantastic.
That's not the problem that I'm illustrating.
I'm saying once if, if they succeed and it becomes a hundred plus billion dollar company
like MicroStrategy, now you face a problem of perpetually diluting your institutional
shareholders versus accumulation of the asset,
which was the purpose to begin with. Do you see what I'm saying? Like the, if the mission of the
company is to accumulate the asset and become a treasury of the company, which is the initial
mission of all of these companies, okay, then that mission is at odds with diluting your
institutional shareholders. And if you piss off the institutional shareholders in your 100 billion
market cap, you get a dead stock. That's the problem. In the early stages,
these things are parabolic. They go thousands of percent. There's great money to make. I'm not
knocking anyone for trading these. They've been fantastic trades. They've been some of the best
trades in the market in the last two years. So if you trade them and make money, great. But I am
saying there is an issue with the strategy of being entirely a treasurerly company, right?
If you're entirely a treasurerly
company, whether you're staking or doing anything else with the assets, you will eventually face that
fork in the road of do we create an anti-dilution strategy or a benchmark of dilution benchmark
so that our institutional shareholders have a greater visibility of what the stock might do.
Institutional shareholders are not going to in size own a stock that does not have a predictable offering cadence.
Like, I don't know how to contextualize this for people that aren't understanding what I'm saying.
But like, if I have $25 billion in a stock, OK, and I want to know what could happen.
Like if I'm in a stock that has a bunch of debt, right, and I know that they have high cash obligations per quarter, I know to expect offerings.
OK, in fact, Nebius, which, you know, has been one of my biggest positions for the whole year.
They just had a 50 percent move yesterday.
I literally told our members yesterday, I said, expect an offering. In fact, I would like to
today, this morning, you get a $3 billion net offering, right? You get a $1 billion public
offering, a $2 billion private placement this morning. So there are points at which you,
if you're a smart shareholder and you're aware of the company and you know what they need and
you know when they need capital, you're like, hey, this is a good time to do an offering.
In fact, I would expect you guys to do an offering here.
That's going to be more and more unpredictable and difficult as treasury companies grow.
And MicroStrategy is facing that problem right now.
That's why they created preferred shares.
And look at the clusterfuck of offerings guidance for MicroSt strategy since that juncture, right? They went from,
well, we won't sell shares until this MNAV to, okay, we'll sell shares anyway to,
we'll only sell shares to meet the obligations of our dividend to pay the preferreds.
Like now they're in a situation where they're like, how do we buy more Bitcoin and meet all
of these obligations also, right? And if at a certain juncture,
the people who are providing yield,
the treasury companies who are providing yield,
who are staking these assets,
if any of them begin to suggest the notion
of offering those returns
to the shareholders of their companies,
which would be a sensible thing to do,
and if I was a shareholder of those companies,
would be something that I expect,
then that even further complicates the liquidity problem as the company gets bigger.
Because you need to raise in larger and larger amounts of money to more and more meaningfully
add to the treasury pile, right?
Once your treasury pile is $100 billion, you need to make bigger offerings and bigger raises
to meaningfully add to that pile while also meeting the other obligations of the shareholders.
So I get that people think this is just a proxy vehicle to the underlying assets and
that it's just these things are going to go up thousands of percent perpetually for all
time.
That just won't happen.
Eventually, they will get too crowded with institutional shareholders who own too much
of the stock, who will not tolerate unpredictable
dilution. Anyway, rant over. But yeah, you guys have fun with trading them. I mean, I'm not saying
they're bad trades. I actually think the BMNR chart looks great. So, you know, for what it's
worth, charts look great. Yeah, I agree. I think the issue is that, yes, they're volatile, which
can work in your favor or not. But yeah, the issue of the unpredictability and also the lockups that are coming up.
But yeah, I think the unpredictable nature of raises
or whatever they do, I just remember owning it
and it was just down 20% on a filing.
And then the next day they file for a buyback
to support the stock.
And it's just like, God, this is such a headache to own.
Imagine a scenario where we get a real market pullback, right?
Like, let's say post rate cuts.
Yeah, no one's holding that thing.
Nobody.
No, it's not even no one's holding that thing.
It's like, what are the companies going to do?
Do you just seize buying the asset that's the whole purpose of your company?
Right?
Like, when the asset goes down, do you now stop buying it?
That wouldn't make sense, right?
Like, if I came out and said to you,
hey, I'm an Ethereum treasury company, my goal is to accumulate as much Ethereum as possible.
And you're like, great, I love Ethereum. I want to get in on you. Let's go, right?
Ethereum goes up and up and up. And everyone's like, yeah, fuck yeah, we're all geniuses.
What happens when Ethereum goes down 30% in the next cycle or 40% or 50% or 80% like some of the
mainstream cryptos have dropped during the bear markets? What happens? Well, do you, if you come out as BMNR, go, well, guys, we love Ethereum
anyway. We don't care that it's not going up anymore. We're going to keep buying it all the
way down. We're going to buy it, you know, 1,000, 2,000, we're going to buy it all the way down.
Then what? What if it takes six months to recover from the lows? Now what? Now you have to offer
against your equity to buy an asset that's not performing?
Talk, talk. One thing I will say
is you're fucked in that case.
I do feel like there's a difference between the Bitcoin
and the Ethereum ones, the ones that throw off
a yield, because in that scenario,
BMNR doesn't necessarily have to go in and
raise more. They probably would, but the
3% that they're just going off, we can call it a drip.
The net value of their assets would drop
by 40 or 50%. What do you mean they wouldn't have to raise more?
They absolutely would have to.
Or the stock would plummet.
But again, I think their goal is to get to 5% of Ethereum.
And we're kind of looking at this through US dollars.
So like, yeah, maybe the company is worth less.
Okay.
Okay.
At lower prices, the pace of accumulation will have to pick up to meaningfully add to the pile, right?
Like if we're viewing these companies on an MNAV basis, right?
And we're saying, okay, you're being valued based on the MNAV of your crypto assets, right?
Then when the asset's going down, that is a terrifying situation to be in.
If you're a mandated accumulator of an asset that is going down, that's like telling somebody like
imagine somebody telling you, hey, this is your favorite stock. You have to buy it every month,
no matter what is happening. You have to buy it. That's a tough proposition. I know some people
are like, oh, you know, I'm an investor. That's fine. That's still a tough proposition, especially
with a volatile asset. Like if there's a six month period of underperformance, you cannot tell me that that
is going to not going to be disastrous for every treasury company. It will be. It'll be disastrous.
If Bitcoin goes from 116 to even 70K, all the newly minted Bitcoin treasury companies who
started buying their stockpiles at 100K plus who are 1.2 billion market caps making no meaningful
earnings at all from anywhere else you have to sell the bitcoin or you're done no they're probably
they're probably gonna get acquired maybe it doesn't make sense because you have to i mean
who's gonna have the money to acquire people who in that space is gonna have money to acquire people
in a scenario where assets those assets are down 40 or 50%. Sailor won't
have the money to do it.
If you have stock, you can dilute.
Yeah, but that's what I'm saying.
I don't like Sailor's strategy
with debt and all this stuff, but
for me, the Ethereum
one has been a little bit clearer to
get behind with the yield that's coming in.
I don't get Sailor.
I really don't i really don't
like the going into debt to buy more um more of the the crypto for me that that leaves this scenario
here a lot harder of a thing where if if there's a sustained pullback in in bitcoin i don't know
how microstrategy ends up making all that money to pay off the debt yeah that's not a problem in
all these companies the one advantage these guys have is what you mentioned earlier which is that they own a
significant enough pool of the overall supply that they can leverage that control to make moves like
they can leverage that control to do some kind of i don't know derivative plays or you know they can
lend their assets or borrow against them like they can do
all sorts of financial engineering when the assets are performing okay and just like you mentioned
i you know you find i kind of feel better about it because of the yield well yeah you feel better
about it because ethereum's up huge that's why the yield feels good because yeah the company's
paying a yield on top of the asset being up huge which is floating the actual, the company is paying a yield on top of the asset being up huge, which is floating the actual price. No, the company is not paying a yield right now, but the asset pays a yield that the company gets.
OK, well, whatever, wherever the yield is coming from, the point remains, which is that the asset is up.
Right. Like BM&R stock price wouldn't be where it is if Ethereum's price wasn't where it was.
Right. We can agree on that. Right.
Yes, that is a fact.
Right. So if Ethereum was down, their ability to raise capital would be less effective,
and the reaction to the capital raises in a weak Ethereum environment would be much more negative,
right? In the environment now where the assets are going up, remember when MSTR was doing capital
raises, when Bitcoin was going from 90 to 100 to 105?
No one cared.
People kept bidding up the stock.
MSTR wouldn't even go.
I remember they did that 21 billion raise and the stock was green on the day of the
$21 billion announcement, right?
That only happens when the asset's going up because everyone's like, we don't care.
You're buying more of an asset that's going up.
But the stock talk but i also think that
going down the shareholder base will not react that way that's what i'm saying
your perspective as a trader i think is a little not a perspective i'm not even a trader i don't
know why you're characterizing me as that okay as a lot but here's what i'm saying though i think as
a long term if if i really go in and believe in the underlying asset of ethereum i would be excited
if it goes down and they can get to that 5% at a lower point
because that's less dilution.
And then when it goes up,
which you kind of have to,
you have to believe in Ethereum to buy these cards.
You have to believe in Bitcoin to buy the Bitcoin treasury.
So I hear you.
No, but Evan, why wouldn't you just buy Ethereum?
Again, the reason I'm doing it
is because of the staking, the 3% yield.
You could do the staking yourself.
Yeah, you could do the staking yourself.
I cannot. In New York, you cannot stake.
Wow, okay.
In California, you definitely can, so I'm not sure.
Yeah, so Robinhood, I can't stake my ETH on there.
I can't stake Solana.
There's a lot of weird stuff you can't do in New York.
They're freaking weird.
They're weird or New York is weird?
New York's weird. Californiaia is more weird i hate
the west coast but um anyway bottom line of all the points i just said is these companies work
great when they're small and the assets are going up they do not work when they become 100 plus
billion dollar companies with institutional shareholders
who have an irregular dilution cadence.
At $100 billion, BMNR is throwing off $3 billion of net income a year.
The number I'm saying is not like, it's not a 50 billion.
They're throwing off $1.5 billion of net income a year.
dollars of net income a year like microstrategy says debt they're not doing it like uh bmr is
The micro strategy just says debt.
They're not doing it.
making if they have our 50 billion dollar worth of assets they are making 1.5 how many how many
how much assets do they have right now i think it's like 10 okay let's say what's their m nav
or whatever i think it's uh it's as logical as saying like you know maybe there's stuff coming
up a little bit later so right now people are quoting that like 1.3 to 1.5 number but i don't
know maybe it's okay and the shareholders are receiving the yield in any way shape or form or
they are i don't know they are not receiving the yield at this point in time he has talked about
that it might happen in the future there could be a dividend okay so where is the yield income going
that i do not have an answer for you i'm assuming he's just gonna buy more ethereum i'm assuming
it's buying more Ethereum, yeah.
You're assuming that they haven't said that?
Well, here's the thing.
The yield is paid out in Ethereum.
Okay, now you're confusing me.
So they are staking Ethereum, which you're saying you can't do, right?
And you're saying that's why you want to own it, right?
Yes.
Okay, cool.
How are you benefiting from the staking?
That's what I'm asking you.
So I think whenever you're doing staking, you're being rewarded in that blockchain's currency.
So if they're staking Ethereum, they're getting Ethereum.
So he's being rewarded because their staking is allowing them to buy more ETH.
It's actually giving them ETH immediately.
Yeah, giving them ETH through the stake, right?
So they're accumulating more ETH because they're able to stake.
You're unable to stake.
So you want to own the stock because they can stake the Ethereum that they own,
which you think is an accelerant to the amount of Ethereum they own.
Is that a fair characterization?
Yeah, I think that makes sense.
One of the reasons, yeah.
Okay, okay.
That doesn't make any sense to me.
There we go.
That makes no sense to me.
Well, here's the thing.
I fundamentally believe in Ethereum.
I fundamentally believe that for the longest time,
there has been no accepted real use case.
And the stable coins, this tokenization,
everything is built on Ethereum.
It's not direct, but the more the market ends up using it.
I very much believe in the underlying Ethereum asset.
So you think they're going to own the Ethereum market?
Their goal is to own 5% of it.
That's a different thesis. I don't have a comment on that because you might be right about that i don't know but that's a different thing if you think they're
going to control the ethereum industry effectively then that's a different thesis and that's maybe an
effective thesis but i just don't like the thesis of accumulate asset by diluting my asset. Like that's-
But the thing though is,
is that asset has to,
the asset you're diluting for would be,
if someone created an S&P 500,
like this treasury company,
like I'm surprised that hasn't happened yet.
I do get what you're saying.
And I don't fully understand
why people go in and buy like MSTR stuff.
I've been able to find the reasons on the BMNR,
but they are kind of moments in time like this,
the staking thing institutions,
not being able to buy it.
So we'll see what it looks like in a couple of years,
but yeah,
I don't,
I think,
you know,
everything is kosher in a bull market.
Like everything works in a bull market.
Like all of these things seem like pretty and fine and you know like oh everyone will be
cool in a bull market it's just that these all of this shit gets much more difficult when there's a
meaningful pullback in markets and you know that's just kind of what i'm concerned about
with these companies yeah like if i can see an imminent blow up happening anywhere like a really
easy one that doesn't require a lot of pressure it it would be that, you know, like a 30 or 40 percent decline in the headline cryptos. And then the treasury companies
just cannot operate in that environment. They either have to dump the treasury assets in the
first place or they have to raise an unsustainable amount of debt or they have to raise an
unsustainable amount of capital. And like, again, I'll reiterate this in that environment,
of capital. And like, again, I'll reiterate this in that environment, the shareholder reactions to
five, $10 billion raises to buy a falling asset will not be positive. They will not. It will not
be like when MicroStrategy raised $21 billion and went green. That will not happen. If the
asset's going down, the shareholders will sell the stock on raises, right? Because I mean,
that's just logic. If you're buying a downtrending asset whether it's
been down trending for three months or three years that's not a winning strategy in the moment and
it's going to be really difficult to get shareholders to reward you for that on the
contrary when the assets uptrending like bitcoin has been for most of this year and most of last
year then when you're buying the asset you get rewarded for it i mean look at micro strategy
stock in the last two years right so you you get rewarded for when the asset's performing well i
just find it difficult to tie myself to companies that like this is also the reason by the way why
i don't trade oil and gas companies generally speaking why i don't trade commodity companies
or commodities in general because i do not want to live and die by the
sword of waking up to a gap up or gap down in a commodity or an underlying asset.
I'm a micro guy.
Like I know the companies I own well.
I know the stories well.
I know what might happen.
And for me, that's easier to navigate.
So I guess they're just not my taste, but I get why you guys like them.
I get I've heard some of the arguments here.
It's good. And I'm glad you guys explained it out to me. I get why you guys like them. I've heard some of the arguments here. It's good, and I'm glad you guys explained it out to me.
I get why you guys like them.
The charts are nice.
Have fun.
I'm sure they'll be great tracing.
One thing, Bitcoin is a digital commodity, in my opinion.
Ethereum is a technology company.
And that's, for me, where the difference is.
There is actually stuff that you can go in and look at,
a total network volume and seeing it increasing, and there's stable coins and tokenization. And it's not,
doesn't have to be Ethereum. There are a lot of these people trying to make these layer ones,
but they are fundamentally different than Bitcoin. And to me, this is the first time there is real
use, real, real world use cases being made out of it. The truth is a lot of the winners are going
to be the banks, the financial systems, every company in the world, I believe, is going to get incrementally
more efficient because of Ethereum and stable coins. Not because of some magic, because it
gets rid of a lot of fees. It gets rid of all these middlemen, all these companies,
the visas of the world are going to be able to use this technology and take their fee from
whatever it is down to one-tenth, whatever. And sure, maybe they don't pass along
some of those stuff to the people who are using it, but then they're going to be quite profitable
endeavors. So you can play this through the traditional financial rails. But if I am seeing
a thesis of every single company in the world being able to be incrementally more efficient
because of fees being taken away
and that's just one of the use cases to me that technology is worth something and it doesn't have to be ethereum necessarily that's kind of the bet we're playing on in here there are other options
and if people deep in the crypto market will tell you why solana or whatever weird one is bringing
is better stripes building their own layer one um sofi for some reason is building on bitcoin
which makes no sense.
So there are other options.
But the bet with Tom Lee is that they're going to be able to get around,
that Ethereum's going to be the one they built around.
He says it's because there's never downtime.
Who knows? We'll see.
But there seems to be one or two of these technology platforms.
I do not believe that crypto will create hundreds of new companies.
I think the largest companies in the world will utilize crypto
to become incrementally more efficient, given the fees that they'll be
able to save. If you can do that across everyone, I think that is quite fun.
You understand it well, so I'm happy to understand it well.
I fundamentally think there is a difference between Bitcoin and Ethereum, though,
stock talk. And I think if you spend some time in Ethereum, I don't know if you buy it,
but there are some of those stuff that you can grab onto a little bit more than the just buy and hope it goes up.
Yeah, I mean, yeah.
Look, I'm always down to trade anything when the conditions are right.
I've traded a couple treasury companies.
I'm not saying I've never touched them.
I've traded them.
I've traded MSTR a few times.
I've traded SMLR.
I've traded a bunch of these treasury companies. But what I will say is that for me,
I just have to be able to understand
what could happen on a four or five year basis
when it comes to things like dilution, stuff like that.
And I just can't predict that with these companies.
And so it makes it hard to own for me.
But if you want to own them, great.
If you understand it well and navigate it, do it. me give me like 20 30 minutes research into it i'm okay if you end
up buying an ethereum or salon or something not the treasury companies i really truly do think
there is something there what you're talking about with these financial ecosystem you know
applications and see if i think there's anything interesting to be done there. But I mean, I would rather just play it again, like you said, through a stock than I would
through an asset like that.
Like, I just don't like having an underlying asset to be dependent on.
Like, and, you know, in some cases I do because there are stocks that I have that are like
indirectly exposed to commodities like uranium, for example.
There are stocks that I have that are indirectly exposed to the broader macro, obviously.
But I try not to have my portfolio dependent on a gap up or gap down in natural gas or in oil or in Ethereum or in Bitcoin.
I just don't like having that
burden. So, yeah. I don't know.
Maybe. We'll see. Maybe
next week I'll be like, oh, look, a new
BMNR shareholder stock talk. No, I'm just kidding.
That's not going to happen, but maybe.
The moon.
Lyft had a story today. I don't think it moved the stock too much,
but there was something around autonomous vehicles.
So impressive.
Let's make BMNR the next... give me bmr as the next uh sos uh stock call out and i'll be
happy no um no lyft is this was fantastic i'm glad you brought that up it's really been fantastic
uh last couple of weeks you know i'm typically a guy uh people who pay attention to stocks i bring
up i buy strength i buy the best stocks in the market.
I buy market-leading stocks.
That's like my MO.
I do not bottom fish.
I just don't.
I've never needed to.
I like being in the best stuff.
I like being in the stuff that not necessarily everybody's talking about because I own a lot
of Smithcaps that no one talks about.
Like when I was talking about Amcor, you can go search Amcor.
Not a literal soul on Twitter was talking about it at before i mentioned it same thing with centrist if you look up center synergy
go back to 2021 i was talking about it no one was talking about it you know you look up materion
mtrn do you see any tweets on twitter on that besides me um you know most of my stocks when i
find them people are not talking about them and i I like it that way. And then eventually,
a lot of people are talking about them. Same thing with Nebius. You search Nebius,
there are maybe two or three accounts other than me talking about it back in May at the Lowe's.
And so, yeah, I like that. I like that I find names that people aren't obsessed with and all over.
And eventually, they become popular names. Some of do. Like I still have Robinhood and Tesla and Amazon in my portfolio.
Those aren't unknown names, obviously.
You know, but genius sports too, right?
Like no one was talking about that.
When I was talking about it back in May,
and a lot of people were talking about it and so on and so forth.
So anyway, Lyft, not one of those names.
Lyft was not one of those names that was like a strong market leading name,
was not above all its moving averages actually when I bought it, which is rare for me.
But the valuation was just so compelling, right?
Like there are just not many stocks.
I think on this space, we talked about this the day I brought up Lyft when it was $13 just a couple of weeks ago.
It's up almost 50% now in just a couple of weeks ago. It's up almost 50% now in just a couple of weeks. But when I
talked, we're talking about here on the 13th, I think it was Evan or, or M or somebody I was
having this conversation with, but I was like, can you name me one stock, just one that is a
household name that trades at one time sales that is growing double digits. And I think we went
through the whole panel that day. This is like three weeks ago and And no one could name one. I think somebody brought Micron.
That one didn't qualify because they weren't growing double digits.
I think somebody brought up a few other names.
And we looked at a couple of names.
And there was nothing.
And, I mean, maybe there are other names.
But I couldn't find any others.
And Lyft was one of those at $13.
It was trading at less than one-time sales, growing double digits, and inflecting the profitability.
That makes no fucking sense.
That's a stock that should be trading at three times, maybe even four times sales.
And so this thing has been relentlessly strong versus the market these last couple weeks.
It's now basically almost $19 today.
And if you get a close this week, I talked about this yesterday, above $16.50, which,
come on, we're at $19.
Is this thing going to close the week under $16. 1650 i don't think so unless the market crashes into the
end of the week but if you close above 1650 that's a 200 week breakout for the first time in history
on lyft and that to me means you're very likely going to revisit this 20 21 and if you break 2150
this thing is off to the races could see 30s so um i'm still in lift my january calls are up
like 175 as of today uh i haven't sold any of them they're 15 calls they're pretty deep in the money
now i will not be rolling them oh ah won't be rolling them but um i'll be holding them into uh
january uh probably uh but i don't really have an intention to sell them unless
the chart breaks down, which this does not look like a chart that's going to break down. So,
uh, lift out a hell of a day today. The defense stocks did well today. Kratos, Huntington green,
um, Huntington man is just, God, this consolidation on Huntington is just getting so
attractive. Um, it's just not, has not budged. I i mean it's been the entire month of august it's
consolidated so tightly in this range you're talking about 261 to 270 range for the entire
month going into this month it's still consolidating now stacking above the moving
averages after today's move huntington by the end of next year i think might be a 350 stock
uh it's definitely going back to all-time highs. Way too many tailwinds for Huntington.
I mean, I've talked about them before,
but the only real exposure to U.S. shipbuilding,
the only real peer-play exposure.
You know, go through General Dynamics,
multi-billion dollar contracts,
you'll find Huntington's name all over every single contract.
Prime subcontractor, Huntington Ingalls,
prime subcontractor, Huntington Ingalls.
If there's going to be any meaningful pickup in shipbuilding any meaningful pickup in shipbuilding uh they will be i think the single biggest beneficiary
kratos continues to sort of defy gravity started to get slippy a couple of weeks ago under the
moving averages has now pretty handily recovered both the nine and 21 EMA here on the
daily, uh, weekly looks superb. The weekly nine EMA has been a great spot to watch on these market
leading stocks, names like Nebius, Kratos, et cetera, you know, centrist energy, uh, so many
other names, at least names that I have, um, been a great spot to watch. You know, if you are getting
patient with the daily or start getting
you know you start seeing some of these marketing stocks break down on the daily you think the
story's over no no no no no look to that weekly 9 ema a lot of these names are just faking daily
breakdowns coming down in their not weekly 9 ema and then putting up vicious rebounds right
like i mean centrist just did this a couple of weeks ago. I was telling our
members to watch for a weekly 21 EMA retest on this. So not nine, but weekly 21 on this.
It came down to the penny to that at 162. Stock is now 220 today. That was three weeks ago,
right? So it's a vicious rebound off the lows from 160 to 220 right off that 21 weekly EMA.
So I think in this market where you have a ton of day-to-day
volatility, have a lot of news events, have some rotation action going on now, I think it's very
important as a position manager to be not getting faked out by the daily breakdowns and paying
attention to those weekly charts and saying, you know what? Yeah, there's some deep weakness on
the daily today as the markets rotate around to other areas.
I'm not going to become a seller here because, you know, we're still holding major structure on the weekly 9 EMA or the weekly 21 EMA.
So pay attention to that because I've noticed that with a lot of my names.
So I imagine that's happening broadly across the market as well with other names. So I'd be paying attention to those weekly 9 EAs on, on, on all your favorite stocks. Um, especially the market outperformers pan at another green day today, this thing's
starting to just consolidate, trying to flip this 20 area into support, which would be fantastic to
see because earlier this year, um, really not that much earlier this year, but July, August,
this thing attempted to make a move over the 200 day through that 20 spot and
just couldn't got to 1950, fell back down to the 17s,
tried again, got up to like 1930, then fell right back down to 1650.
So this thing got rejected twice around that $20 spot in July and August,
attempting that breakout.
And now we've got a much smoother breakout through the 200-day
these last couple weeks on Penn Gaming.
And the consolidation is much tighter and higher here.
And we're getting consolidation above the highs of that previous local range.
So this is promising action, I think, here.
You know, you've got this little bit of a low-ick, 1933 pullback right above that 1931 rejection spot.
That's pretty.
And now this thing's pushing.
So I think this thing will continue to consolidate here around 20.
I expect to move up closer to 23 on Penn in the coming months.
Amcor continues to consolidate nicely, just letting this one build.
I just love the weekly
chart and love the story i talked about it in detail in yesterday's space if you want to go
uh listen to it but this thing looks like it'll confirm a 200 week breakout uh this week as long
as it closes above 24 37 there's a chance it doesn't but you know it's 40 cents within that
that'd be nice to get that 200-week confirmation this week on that name.
Fubo continues to consolidate well, headed into that merger vote that's on September 30th.
Today's pullback brought it not even really into the daily 90MA.
So structure is still perfectly intact on this one.
on this one really all the volume remains on the buying side with fubo and you know again
Really, all the volume remains on the buying side with Fubo.
practically no volume since that hve at the beginning of the year on all time frames so
um that one continues to build genius same thing continuing to consolidate and build
a couple of down days for this one poking its head below uh the 21 ema but still holding uh
that nine week that i was referring to at 12 28 So you want to see a weekly close above 1228 for genius.
But yeah, that's just a review on some of my positions.
I've had some interesting action these last couple of weeks.
But yeah, that's pretty much it for me today.
I don't know if we want to throw it around.
I see Allie up here.
I know Kirk was up here earlier.
Kirk, did you get a chance to talk?
What's going on?
Hey, how are you doing?
How are you doing?
Hey, I got a question for you, Evan.
I don't know if Evan's here anymore.
I think he dropped, unfortunately.
Ah, boo.
Alright, so I actually was going to talk
a little bit about BMNR
only from the standpoint of how to
trade it because
I'm an FS Insights subscriber
and one of the things that got mentioned was a lot
of brokers and advisors can't do crypto or certain investments at this point. That's changing
rapidly. But I built a 401k for some of the companies here in Milwaukee using ETFs. And I wanted to put IBIT, I-B-I-T in there,
but they wouldn't let me. And it seems like that's about to change with what Trump is doing.
But I used ARKW instead because it has that Bitcoin component and then exposure to some
of the Bitcoin companies. And I wanted that exposure. I've got a gold ETF that I have in there too.
So I think that we're getting to the end of the arbitrage period where advisors and brokers
cannot use all the tools in the toolbox. So Trump is opening up private equity to 401ks.
Even Bank of America slash Merrill Lynch is allowing IBIT now in accounts.
You still have to jump through some hoops, but you can do it now. So maybe by next year sometime,
you don't need an artificial structure to buy and or stake a crypto or whatever it is you want to do.
So I think that's going to change not only for the public, but for advisors in general, based on the direction that the regulatory framework is going.
So just put that out there. The way that I'm thinking about BMNR, and this has been evolving,
I talked about it a little bit last week, how I was having a hard time putting a value on what they would be able to earn on their
Ethereum. If you take a look at the 6% high end of the income range that they're getting,
that means you've got about a 16-year payback. And if they only earn 4%, it's a 25-year payback.
So all the money you're making is on the leverage. So the question becomes,
you're making is on the leverage. So the question becomes, does Ethereum become the dominant
backbone of blockchains that handle titling and transactions? I don't know. Maybe, but Avalanche
just did all the car titles in California. And while that is compatible with Ethereum, it is not on the Ethereum backbone.
So I don't know if that ends up being a very fragmented market, right, with lots of blockchains doing lots of things, or if a lot of things coalesce to being layered onto Ethereum or Solana or whatever.
So for me, Bitcoin, BMNR, in the long term, is hard to know.
However, if it ends up being a winner,
and given that I think that there is enough support from the market participants in it, I have learned in the last
four or five years that sometimes you just got to ride these things. And if you're trading BMNR,
you know, don't have religion, have some mass and try to figure out, are they going to
end up being a giant winner in not only that space, but in the
block?
Is Ethereum going to be a big winner in the blockchain space, or is it going to get surpassed,
or is it just going to be a highly fragmented market?
So I don't think it's a bad gamble to be in BMNR.
I mean, it was better before it went up a zillion percent.
But I toy with the professional poker tournaments.
I'm just good enough to win money in Milwaukee and give it to the guys in Las Vegas.
But Puggy Pearson was World Series of Poker champion in the 70s. He said there ain't only
three things to gambling. Knowing the 60-40 end of the proposition, money management, and knowing yourself.
With BMNR, I don't know which side of the 60-40 I'm on, so I'm not doing it.
However, if you go into it with that mindset that, hey, this is just a gamble that I think
might pay off big, just understand that's what you're doing.
And don't become a maximalist because it helps you rationalize things.
So that's the way I look at that.
The stock that I did something with today is one that I've talked about here before,
and that's AST Space Mobile.
I sold a bunch of it around 50 and wrote a whole bunch of covered calls around 50.
So I am rebuilding my position now that it's dipped into the 30s,
which is where I told my subscribers I thought it would go,
gave back part of the rally.
It can go into the 20s.
I don't know if it will or it won't.
But I think that the business thesis just continues to be validated
with government contracts and, you know,
the first launch in India coming up in
about a month. So, you know, I still see this as a stock that goes to 150 on the low end,
probably headed towards 300-ish. And on FOMO, it could be, you know, it could go hundreds higher.
But they are going to be part of the oligopoly, and they will have first-mover advantage of five-ish years, it looks like,
based on Starlink's technology and what they're going to be able to do.
So they're going to have first-mover advantage.
They have the contracts with AT&T and Verizon and Deutsche Telekom and Vodafone
and all sorts of companies in Southeast Asia and India.
So they're going to have first mover advantage.
They're going to get a big jump.
The best comp still looks like American Tower to me.
So $100 billion-ish company.
Can it go higher? Sure.
Could it be lower as Starlink gets into the market?
Sure. But I do think that $50 billion is really the low end that I can see. And it could be as much as $200 billion market cap. It's 13 and change right now. So today, I was one of the larger sellers of December $35 cash secured puts.
I've been selling November $40 cash secured puts as well in the last couple days.
So I've been selling a whole bunch of cash secured puts, getting about a 10% or 12% income premium on it.
12% income premium on it. The internal rate of return on those are anywhere from 40% to 80%,
depending on which expiration and which strike. And I get ASC Space Mobile put to me at a net
cost of anywhere from $30 to $40 a share after having taken some profits around $50
and selling a bunch of covered calls on what was left.
So I still think that the thesis on AST Space Mobile is very bullish.
Yahoo Finance asked me to write a little summary, so I'll have that up next week on Yahoo Finance.
So I'll have that up next week on Yahoo Finance.
And yeah, I think that this is one that you're getting the chance to buy it back.
I can't tell you exactly what the bottom is.
You guys are all better technical traders than me, so maybe you can tell me.
But I do think that the upside here is still pretty huge.
And if you miss buying it with me in single digits,
I think you're getting a pretty good pullback right now.
Any questions, class?
Oh, my bad.
I didn't know StopTalk was going to pop in.
I'm just making some food real quick. But no.
Allie, did you want to pop in with any thoughts here?
Hi, guys.
What's up?
How are you?
Well, you know, another day in markets where you're just continuing to
see those record highs. I mean, the Oracle move, the biggest surge since 1992, I think that just
underscores where we're at in this current cycle. And over the course of the past several days,
including late last night, there were several Wall Street strategists that upped their S&P
targets, specifically citing a lot of this AI hype, the AI mania that we've been
seeing, Wells Fargo, Barclays, Deutsche Bank. And really what's driving that is obviously the Mag
7, a lot of these major companies. But I think it's encouraging to see a company like Oracle
come out there and also see some of these gains, because one of the biggest risks that we've been hearing from strategists is that the market is too concentrated right now.
And we really need to start to see this broadening of the rally in order for it to be more sustainable.
And that's something that Binky Chata at Deutsche Bank is optimistic about. He sees the potential
for the rally to extend beyond just those concentrated cohort of names.
Obviously, that's been propping up a lot of the gains that we've been seeing.
That's what most investors are exposed to.
If you're just allocated to the S&P, you're likely in a very concentrated situation.
So that's something that I'm watching closely, just continuing to watch this rotation, this broadening story.
We've seen small caps surge as the Fed readies a rate cut. And now I think the biggest question is going to be how
well the economy can hang in the meantime. Obviously, we saw those massive down order
revisions on the job side that's leading to some stagflation jitters. But with the PPI report that
we got this morning, I think that was a good sign that maybe
CPI tomorrow won't be as sticky as some anticipate. Of course, there are many on Wall Street who do
see prices remaining pretty firm, especially as tariffs continue to work their way through the
system with poor goods edging up. I would say for tomorrow with CPI, focus in on services.
up, I would say for tomorrow with CPI, focus in on services. There is this general expectation
that services are going to come off the highs that we saw last month, because that was really where
investors and economists got a little spooked. Because if services inflation starts to
creep back up again after decelerating throughout the past year, that's something that the Fed is
going to have a very difficult time to control if they're in an environment where they're cutting interest
rates and all signs point to that. So I'd look at that. I'm always paying attention to the bond
market. It was interesting to see the 10-year treasury yield and the 30-year yield spike on
the back of those payroll revisions. And I think, again, maybe speaking to some of those deflation fears,
those worries about the economy, we are now down today. So that's the good news, because obviously, if the bond market starts to go crazy, that's your first sign that something wrong is
going on and that there's maybe more trouble underneath the surface. So take a look at the
bond market tomorrow after that inflation report. Take a look
at small caps, which have, again, been really rallying over this past month amid some of those
expectations. And really, the takeaway for me today was that AI is still all the rage. And
even a lot of those S&P upgrades, Wells Fargo, for example, saying that the music stops when AI CapEx stops. So as soon as that company stops spending or they pull back
in any way, that is going to be the first sign of concern. And I was speaking with someone earlier
today that if the economy starts to slow or weaken, the MAG7 names, they're not immune to that. They
will also pull back a little bit. So even though
they are maybe more insulated from some of these macro pressures and some of the smaller firms,
they are not completely immune. So it's still very important that the economy continues to chug along,
that hopefully we're not entering the stagflationary environment. And of course,
the Fed, I mean, they have their hands full next
week when they give those rate cut expectations that summary of economic projections is coming
out. So that should be something to watch as well. So overall, just a few things going on
in this environment. Yet we continue to see stocks at record highs. And if you think about
where we were just a few months ago at those april tariff lows it's been pretty remarkable to see how quickly we've recovered since then
yeah some great thoughts ali it was a great rundown stock talk i don't know
if you had any uh any any thoughts to add on great great perspective on on you on the overall market there.
Sorry, I was just reading about Charlie Kirk passed away just now.
He did.
I know.
It was terrible.
It was a terrible day.
Yeah, that's very sad to see his wife and two young children.
It's very sad.
Yeah, horrible thing
gosh
I've been trying
I was trying to
I was sitting back
for the last like
45 minutes
trying to see
if things were
confirmed or not
yeah it seems like it is
so yeah
prayers for
prayers for his family
out there
it's really sad.
On another note,
Did I cut out there?
What's up?
Did you not hear me there?
You cut out after.
Oh, I did? Okay, sorry. My bad.
No, I was saying, I don't know if Kirk has any other comments,
but I mean, I already talked for like an hour,
so I don't want to be repetitive.
No, you're good. Kirk, did you want to hop back in?
Yeah, I didn't know about the Charlie Kirk shooting.
I wasn't a big fan, but nobody deserves that.
I mean, that's fucking horrible.
So, you know, not good stuff.
As far as stock market goes, you know, I have been neutral to bearish all year.
That has served me well as an option seller.
me well as an option seller. You know, we're up, depending on the account, 20 to 40 percent
because we're getting huge option premiums by selling cash secured puts. And, you know,
as a margin of safety guy, what I would tell investors is if you're not selling cash-secured puts, think about it. Because if you like a particular stock,
and you're iffy on the stock price, and you'd prefer to buy it a little lower,
selling cash-secured puts can be a really neat way and a very profitable way to get paid for essentially setting limit orders.
And, you know, I've been doing this sort of trading since the late 90s and really a lot
since the financial crisis because, A, that was a buy low opportunity and it was the start
of the QE era, which, you know, you've basically wanted to be long most of the time.
So selling cash-secured puts in an era where there's twice as many traders as there was prior to COVID
means that you're generally getting really good premiums, right?
Because there's a lot more speculators that pushes the price of options up,
so the premium is higher. You can sell cash-secured puts and just really make a killing. I mean,
have annualized returns of 30%, 40%, 50%, 60%. I mean, those are annualized, so you got to make
several transactions a year on a piece of money. But I just think that it's a great tool that is underutilized by most of the market, right? I
mean, I shouldn't get paid so much for selling cash-secured puts on stocks that I would love
to buy a couple bucks lower. And yet it happens over and over and over again.
I give my subscribers 10 to 20 of these a month to sell on.
And, you know, we're just killing it.
I mentioned AST Space Mobile earlier, you know.
I'm not looking at it right now, but I think we got $4 or $5.50. We got $5.50 for selling the December, let's see here,
I'll pull it up exactly, $5.50 for selling the $35, I'll make sure that's the right premium.
Yeah, we got $5.50 earlier today for selling the December $35 put. Well, $5.50 is the cash you have to hold in your account.
I'd never use margin. I've never used margin. I've still averaged over 20%
as a position trader, right? So I own myself pretty long-term. And, you know, so October,
November, December for next three months, I've got $5.50 in my pocket today against the $35 that I'm holding in cash.
So what is that? About 14% return in three months.
If you could make 14% every three months, would you do it?
And there's those deals out there on all kinds of stocks.
I think the sweet spot is mid-caps.
And the reason I like the mid-caps is because they have more business behind them, right?
The micro-caps and the small-caps, they get destroyed all the time because there's not big institutional flows.
And they're very subject to kind of horde trading, right? If a trading room
starts moving against something, they could do it until the institutions finally get in there,
and sometimes that takes a long time. But the mid-caps, you know, the growthy mid-caps with
double-digit growth rates, or the potential for double-digit growth rates, as those market caps go up,
with half of the market putting their money into S&P 500 index funds,
the S&P magnet pulls on these mid-caps to get them into the S&P 500 from a market cap perspective.
And with the S&P 500,
you also have to meet some financial
financial conditions so who just got into the s p 500 was it robin hood
or yeah robin hood and um apple oven yeah so i mean those companies were way bigger than the
necessary market cap but they finally hit the financial conditions.
Now, I will say, usually when a company gets pulled into the S&P 500, they cap around for
a while, right?
Because the magnet's gone.
They're already in.
So, you know, they'll have to continue their growth story as large caps now and not mid
caps getting pulled into the large cap universe.
So at the moment, I'm not in those companies.
I was before.
And I think that if you're selling cash-secured puts behind those,
especially on when the weekly RSI, the shortcut we use,
because I know most people aren't great at technical analysis,
the shortcut we use is the weekly RSI.
Not the daily, but the weekly RSI.
And I'm sure there's a mathy way to use the daily.
But we use the weekly RSI.
We just use TradingView.
And when that gets below 50,
if the stock doesn't have huge momentum down,
we start looking for ways to sell cash-secured puts.
If the momentum is pretty
heavy to the downside i'm not a big fan of trying to grab the falling knife so we'll wait um sometimes
you know we can sell cash secured puts and by luck you know for the most part and some some
reasonable technical analysis and fundamental analysis you know know, we'll get a really low, close to the bottom
buy price. And if not, we have all this premium in our pocket and then we live to deploy that
capital another day. So we're really recycling our money every two or three months and just
always looking at our best ideas, paying attention to the cyclicality in the market.
You know, some things are going up, some things are going down.
Well, I like this one, and it's down a little bit, but it's in an uptrend or, I think, an inflection point.
And we saw those cash-secured puts.
And because there are so many speculators out there, the math, I'm telling you, we're getting paid roughly double what we were getting
paid pre-COVID. I mean, the premiums are just obnoxious. So when people ask me, is it a good
time to buy a LEAP? I laugh at them because with very few exceptions, right? I mean,
you know, there are some times to buy a LEAP, but you have to have a really good company that's
really cheap and you really want to leverage and you don't want to do it with margin.
But for the most part, you know, longer term time values you want to stay away from
because if you're buying it, it's too high. And if you're selling it, actually, you would do better just selling shorter duration two or three times.
So, you know, we're pretty expert at option selling.
I've been using it to manage money for almost 30 years now, and I've never seen it be such a good strategy.
a good strategy. I mean, it's always been good, but it's just phenomenal right now. So if you're
I mean, it's always been good, but it's just phenomenal right now.
a little bit afraid of buying something you like, sell a cash secured put for November or December,
you know, and probably still take a starter position or nibble in. You know, I'm a big
fan of scaling in overtime and not trying to be perfect. You know, I just want it to be excellent,
right? Vince Lombardi.
In your pursuit for perfection, if you achieve excellence,
hey, you've done a good job.
And that's what we're trying to do with us,
with my group of people.
And I would encourage more people to sell cash-secured puts.
And I'll finish with, I usually don't tell people that.
Because frankly, I don't want more competition.
But I really like the group that runs this show and I like the people that listen.
So if I can encourage you to sell cash secured puts, I think you should learn how to do it.
Or just use it more if you're not using it.
Yeah, I love hearing about the style, Kirk, because we're on Spaces're on spaces all day doing the live trading, but most of us are doing, you know, super
directional style plays and we're buying, you know, we're buying and short selling, right? So
it's nice to hear a little bit of a different style. We do have some option sellers that will
come on and, you know, sell spreads and things like that. But I love hearing about your style,
super cool stuff. And it's obviously And it's obviously been working, right?
I'm a huge advocate.
Like, you'll see people on the timeline
kind of fight back and forth.
Like, this is the best way to trade
or this is the best way to invest or whatever.
And I'm like, hey, man,
like, you show me a P&L of consistent profits.
I don't give a shit how you're doing it.
I mean, I'm no stock talk
looking to buy a ranch in Texas.
But, you know, I'm doing all right.
You know, so I just think, you know, I said earlier, as a margin of safety investor.
I can't speak.
And I'm, you know, I play.
I'm a bad professional poker player or a good amateur poker player.
You you pick which one that is.
I suppose if I never want to go play with the pros, I was a good amateur poker player. You pick which one that is. I suppose if I never
went to go play with the pros, I was a good amateur, right? Because I stayed away. The money
I win, I don't give away later. But I think that the toolbox that's out there for people who
maybe don't want to be so gambly, don't want to be so speculative, I think is underused.
I do.
I really think it's underused.
And the premiums are telling me that.
It's not a subjective thing.
It's real data.
The premiums are too high.
They shouldn't be this high.
And that's with volatility collapsing, right?
Volatility has collapsed throughout the last six weeks, eight weeks or something.
So, I mean, even with volatility low, you're getting pretty big premiums.
So, something's up, right?
Something's going on.
Yeah, agreed.
Yeah, when I look at this market right now, I just think it's time to make a decision here soon.
Many of you guys have mentioned it, but we're just going back and forth.
Has anybody talked about M2?
Yeah.
No, I don't think so.
Money supply, M2?
I'm not aware.
So the money supply, liquidity, has always had a direct correlation on asset prices.
And right now, the stock market divided by M2 is the highest in history.
So that says one of two things.
Either money supply has to go up or prices have to come down.
supply has to go up or prices have to come down. And I think that both things are going to happen
at some point. I think probably prices come down at some point and then they spray paint money.
And then, you know, right then they reset the whole equation. So the market cap divided by money supply, M2, is very, very high, record high right now.
And that just means that valuations across the board are high.
We know that revenue growth is low, and especially if you throw out those top 20 or 30 tech companies, right?
tech companies, right? So there's a lot of companies out there in the S&P 500 that I think
are very at risk of having happen to them what happened to Unite Healthcare. And we'll see if
I'm right, if there's a lot of 30, 50, and 70% diggers here in the next year. But the
money supply is consequential.
It is flattening out right now.
Everybody shows the short-term charts,
but really it's been choppy since top of 2021.
You know, it went down, went up, went down, went up.
And that has to do with the compressing of the maturity schedule of U.S. Treasuries, right,
from longer duration to shorter duration.
And at some point, it's so crunched that maybe you get an interest rate going in the wrong
direction. And, you know, that causes a series of events. First, you get a contraction or recession,
maybe. And then the government reacts and the central bank reacts by becoming
very loose monetarily.
The interesting part of that conversation, I think, is that Besant has been talking down
the idea of quantitative easing.
If they stick to their guns, and once they get control of the Federal Reserve in May,
if they take QE off the table, which I find hard to believe,
but if they do, or even if there's just a delay and liquidity dries up for whatever reason,
take a look at the broadening pattern, the megaphone on QQQ. There's definitely,
there's one poster on Twitter, on X, the Great Mattis, I think that's what he goes by,
and he's been showing some great charts. If these megaphones play out the way that
often they have, which is in massive corrections, you know, down is a long way down.
And that is problematic. If suddenly we are unwilling to do QE to bail out the stock market,
If suddenly we are unwilling to do QE to bail out the stock market, I'm not arguing ethically that it's wrong.
I'm just saying understand what can happen.
Because it would be the type of correction that most people don't have an experience with.
It'll be like 2000 again.
It would be like the financial crisis, which actually could have been worse.
Or it'll be like COVID, which could have been worse.
But both of those things were met with quantitative easing.
So from an engineering, a financial engineering standpoint, if they're unwilling to do QE or they just delay it a while and we get a
liquidity crisis, which, you know,
which could happen for a number of reasons.
It's, there's a, it's a long way down folks. It's a long way down.
Hey, I'll write it. I'm, I'm, I'm down for it. I'll write it and I'll buy some,
I'll buy some of the companies I love on the way down as well.
So I don't mind.
A little volatility influx would be nice.
We get some pockets of it here and there right now, but it's nothing like I've seen before.
You know what I mean?
So I wouldn't mind to see what you're saying.
Yeah.
And I think a lot of good traders are okay with it.
But what about the other 90% of the population? Exactly. Right. Yeah. Everybody that's buying
highs, right? Yeah. What about them? And they get, they get screwed, right? On the, on those,
those types of events for sure. So, right. Something to think about in the audience too.
That's why you guys will hear me talk about long-term investing. Like when I, when I do
throughout the day, you know, when I am buying something, which hasn't been recently, right?
Cause we've been at highs continuously, but when, you know, when I am buying something, which hasn't been recently, right? Because we've been at highs continuously.
But when, you know, tariffs hit and COVID hits and we get those 20% dips in the market, absolutely taking advantage of those types of hits, right?
And I think being a trader definitely more of a trader helps me do that a bit more than I guess like the average guy that might be coming into the market.
me do that a bit more than I guess like the average guy that might be coming into the market.
But it's funny. It's still shown that if you're buying, if you're buying at highs, you've still
probably done well over the past. But most people don't have the stomach to sit through the dips
that come. Right. And so I get what you're saying. I know it's it's been a great conversation
over this afternoon here and this evening for all you on the East Coast. But I think we're going to
get wrapping up for the day. But we'll be back live tomorrow morning on the wolf trading account
if you guys aren't following the wolf trading account i know we don't have it up here right
now but make sure you are that's where we're doing the live trading every single day so we'll be live
back tomorrow uh bright and early at 9 20 a.m eastern the kids stepping in and hosting for me
this afternoon hey there he is.
What's up?
You get that new car or what?
Yep, just got done with all that.
I'm sitting in traffic trying to get back home.
Got work to do, meetings to take care of, all that.
Got this knocked off the list, and I appreciate you stepping in.
Y'all make sure you're following Jordan as well, his account up here.
He's the voice behind Wolf Trading.
For those that don't know, over on this audience, I know you've probably seen him on some spaces before,
but just want to make sure, shout you out. Appreciate you stepping in for us today. And
of course, as always, the Stocks on Spaces show each and every day. We run a power hour
right here and make sure you follow that host account on here. We don't really post much of
anything from that account so really
if you just want to turn on notifications like you'll always know when we go live over here on
stocks and spaces big facts yes sir well great show everybody uh if you're in the audience make
sure you follow kirk up here make sure you give stock talk a follow that was up here all our other
panelists that joined us this afternoon and uh you know we'll see you guys bright and early in
the morning for some more trade-ins,
some more conversations.
And then leading into the end of the week, we got Friday to deal with.
And that'll be a wrap.
But tomorrow, we're going to have CPI.
So get ready for that in the morning, 8.30 a.m. Eastern, CPI.
Got to be careful.
We'll see you again.
Everybody enjoy.
Have a great night.
We'll see you tomorrow.
Peace out. Thank you.
