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WOLF MONDAY MORNING SPACES
Recorded: Oct. 9, 2023 Duration: 2:24:55Space Recording
Full Transcription
Thank you, yo.
Hello, hello. Good morning. You're doing well.
What time is it over there by you?
Uh, 3.20.
Wow. It is 7.19 a.m. right now.
There you go. Time zone. It's weird, man.
Strange, strange, strange.
So, yeah. What are you, uh, a busy weekend for you, I assume, with all the news.
Were you kind of reporting through that?
No, I am a stock market person, and I'm not going to go and pretend to be a geopolitics reporter like some other people want to go and do and switch up and do stuff.
But, I mean, I definitely have my thoughts about what's going on, um, you know, uh, but I don't think we necessarily need to go into it too much.
Uh, I'm good for the distraction of the market to be back.
It's been a sad weekend for me, seeing everything going on.
Um, but, uh, I am happy the stock market is almost back and give us that distraction, which, uh, I do love so much the market.
So, a couple news stories.
We did have, uh, Microsoft, uh, they reportedly lost money on one of their first generative AI products.
That wasn't really the kind of the basis of the story.
The basis of the story was, hey, AI is expensive and hard to make new products.
And that was a Wall Street Journal article.
So, uh, just because a lot of companies are going in and making new features doesn't necessarily mean they're going to be successful.
And these are more expensive, um, endeavors given the compute power you need behind it, the cost per compute or cost per click or whatever we're going to call it.
Uh, but yeah, that was a story going around in that same vein.
Google Cloud announced new artificial intelligence features, uh, for healthcare workers.
Uh, we did have actually on this day in 2006, Google acquired YouTube for 1.65 billion.
So happy birthday to that purchase.
Uh, China plans to increase its computing power by 50% by 2025.
That's according to a CNBC article trying to keep up with the U.S.
Uh, a whole lot of banks initiated coverage on arm holdings today.
That's just given that this was the first day that they were able to.
Pretty much everyone came in with a buy rating.
Rosenblatt came in with a peer perform or hold rating over there.
But, you know, Goldman, JP Morgan, Citi, Bank of America all had buy ratings.
Uh, Goldman was 62 price target.
City and Bank of America were $65 price target.
JP Morgan was a $70 price target.
And all of those are on ticker ARM, arm holdings.
In a similar vein, watch out for Birkenstock.
Uh, that IPO is coming.
They're reportedly about to price the IPO after the close today.
And it should go trading tomorrow.
Uh, so watch out for that one.
BlackRock's vice chairman said that this is a quote now.
We are going to be in a much more sticky inflation, inflationary environment, and rates will not be able to come down to respond to weakness.
That's a quote from BlackRock's vice chairman.
Uh, activist and investor Nelson Peltz and Treon, um, they increased their stake in Disney up to more than $2.5 billion.
And they are planning a fresh push for a board seat at Disney.
They were originally doing this a while ago.
Uh, but once bought by your return, they kind of laid back a little bit.
But obviously, given how that stock has moved, um, they're back at it.
Uh, General Motors is at a risk of a shutdown, uh, due to a strike in its Canadian facilities.
Ford was facing this a little bit ago, and they were able to come to a deal.
We will see if General Motors can get the same thing.
But that should be happening tomorrow is when 4,300 workers would go in and pick a lens.
And there was, um, another strike announced today.
I don't have it in front of me, but it was, uh, at a subsidiary of this who kind of supplied parts for them.
And it was about 4,000 workers.
So that UAW strike is still very much ongoing.
Uh, final story, not going to necessarily impact so, so much right now.
But Chevron was reportedly interested in acquiring, uh, one of your favorites, Wolf Occidental Petroleum, as recently as the start of the year.
Chevron has moved on to other targets, mostly smaller targets.
But Chevron and other companies are on the prowl for, uh, for acquisitions.
And, uh, expect a lot more M&A in, uh, the oil and gas in the Permian area.
So, so, yeah, also a quick look at the Catalyst Watch from Seeking Alpha.
Today you should be expecting a G2E Gaming Conference Expo in Las Vegas.
That will affect a lot of those stocks there.
Um, Birkenstock Spreader Prices IPO.
The conference schedule includes Maxim Group's Virtual Tech Conference, Citi's Global Resource Conference, and a couple others.
But, yeah, nothing too, too much on that macro calendar, on that, sorry, um, Catalyst calendar, and then just a really quick look at the macro calendar.
Now we have Fed President Logan, who is actually speaking right now.
And then we have Fed Governor Jefferson speaking at 12.50 p.m. Eastern.
So, a light day on that front.
Obviously expect some, some volatility in a lot of stocks today, given what's been happening over the weekend.
Some movements in oil, some movements in defense names.
But, yeah, we're in an interesting place, unfortunately.
Yeah, certainly interesting times.
Going to be a little all over the place with the market today as we get news coming out in other pieces.
Looking forward to hearing from the rest of the panel as well.
H. Paul, I see you in the crowd.
You'll just need a request up to get on stage.
It's the rest of the audience here.
Frank, I see you put some stuff in the messages this morning.
Do you have some expectations for things that you're looking at this week?
Well, you know, I think it's too early.
But, like, the things that I'm going to watch, obviously not today, is the bond market.
See how things go in the Middle East today.
You could see, you know, if it were to expand, you see maybe a flight to quality.
You know, we're in a period where bonds are yielding, you know, short-term bonds are yielding 5%.
So you could see a flight to quality.
It's a safe place to go.
But I think we're going to see some little choppy volatility, sharp moves.
Obviously, defense contractors.
I think L3 Harris is up quite a bit and Lockheed Martin oil up 3.7% off its highs.
You know, I'm going to be very patient here.
Volumes could be a little light.
It's a holiday here in the United States.
Banks are closed.
So, you know, I'm kind of just watching the action and watching the candlesticks, to be honest.
I mean, there is a big gap that we have.
Not a big gap, but a gap that, you know, we just traded into and traded back from.
So, leaning short, but not hard.
Yeah, slight short.
I think that's probably a bit of the emotions going around.
Blake, what's going on, man?
What are you watching?
Yeah, good morning, everybody.
Thanks for having me here.
And, you know, first off, my thoughts and prayers are with everybody in harm's way.
Definitely not, you know, what you want to see going on in our world.
For me, yeah, Friday was a really great day to be long in the market.
Actually closed above a few of my very important key levels.
And today, I was expecting some sort of follow-through based off of Friday's, you know, huge God candle.
But, yeah, so we obviously had some news over this weekend that obviously it is impacting these markets.
Just when it looks like things are ready to take off, we have something to slap us right back down.
So, I'm going to be taking it very cautious and slow probably today.
Tomorrow is probably when I'm going to be a little bit more aggressive and finding some new trade setups.
But, for me, you know, based off of our trade Friday and how we closed, I'm still going to be leaning bullish this week unless things just completely crater.
But, for me, I still have a long bias.
So, nothing, you know, right out of the gates that I'm looking at getting into.
But I will likely wait for some sort of pullback, which we're already getting, and then probably a close above, you know, daily VWAP.
And then maybe we'll take a look at some long.
So, still long bias, but just taking things a little more cautious than usual.
Very fair.
What's up, Alex?
What's up, guys?
How you doing?
It's an interesting...
Yeah, no, I'm...
Yeah, it's pretty wild, everything going on.
I think everybody kind of covered some spots.
I mean, I know...
So, I was just talking to my group three, you know, on QQQ, right?
I'm watching, you know, last week we had...
The high of last week was $365.95, almost, I mean, right up next to it.
That is the top of the weekly zone that I've been watching, I don't know, going back since it formed.
Yeah, back in, what was that, June, I guess?
Or, yeah, the 621 is when that formed.
So, anyways, we've been watching this kind of level, we've been chopping in.
I mean, you know, nice ranges if you're on the right side of the market.
But I am, you know, the fact that we didn't close last week back over that, you know, really concerns me.
You could just say $366.
But the fact that we tagged that still tells me that it could be a bit of like a retest of liquidity.
The one thing that I'm really watching today, I'm probably not going to trade a ton unless there's just, you know, the right setup, right?
On SPX, I'll just throw those levels out.
So, basically, we have the 9 EMA on the daily.
Well, I'm sorry, on the futures, but I'm trying to correlate this to SPX.
So, I use the Oanda CFD.
But these price levels are basically for SPX.
So, I mean, you know, if we get over 4,300, these are just pretty standard levels.
I do think we can push up to 4,325s.
If we drop down and we break, you know, like 4,270 SPX, I could see, obviously, 4,250, that stands out.
But then also really down to the equivalent of where the, well, it's the same on SPX, but on SPX, the equivalent is basically 4,225 is the 200-day simple moving average.
And that has been, you know, it's kind of held support down near that quite a bit.
We have dipped under it briefly, but then we just pop right back up.
So, it's interesting, we're pegged between the same spot.
So, maybe, you know, keep in mind the bond markets are closed today, the banks are closed today.
So, you have a lot of volume that won't be here and a lot of the volatility that won't be.
So, I have no idea what today's going to be like.
I'm just going to follow, I think, I don't remember who said it, but, you know, just follow the candles, right?
Follow the price action.
It's the best thing we can do because we could see a low volume push higher.
I mean, it's definitely possible.
So, just keep in mind if you're going to swing anything that, you know, the bond market could come back in with fire tomorrow.
You know, the U.S. bond market has not had a chance to respond or react really to this, to what's going on over in the Middle East.
So, I'll leave it at that.
I mean, there's some things I'm watching in general, but I mean, unless, until we actually get a move, I don't really have a direction.
Because we're still, we're honestly about dead center in between the ranges, you know, that we've been in for a little while.
So, that's about it, man.
I am watching XLF, you guys.
Keep an eye on that as well, as well as, like, Chips, you know, to help move Spy around.
Watching.
What's up, Mikey?
Good morning.
Morning, morning.
Think things quiet over there in Canada?
Yeah, it's Thanksgiving today.
Happy Thanksgiving to all the Canadians.
Do you guys do, like, Canadian turkey?
What's the move?
I think it's ham, right?
I'm pretty sure they do turkey up here, but they do ham as well.
Me, personally, I'm American, so Thanksgiving for me is end of November.
Got you.
What are you watching here?
P-E-E-V, pop it, echo.
I'm sorry.
I'm seeing this fight next to the F-E-O-V, your eyes.
So, there is a microcatch, so P-E-E-V.
Gold, popping, off the bat right here.
Big spike up on GDXU.
Big spike up on Oxy, but selling a little bit here.
Yeah, watch oil potentially selling off.
RIG up 3.8%.
RIG up 3.8%.
MRO up 3.3%.
Rest of that sector popping as well.
FRO up another 4.5%.
Jeez, this one's going.
So, you're looking for the sell-off based on the Middle East conflict?
Yep.
Quite the bump, though, to start.
Right.
Craig, you looking at anything here?
Watch CrowdStrike 180 call.
Overall, being patient.
You know, names that will obviously be in play for today.
Cybersecurity and your defense names.
You know, I wouldn't be putting the sell-off out of the woods, like Mike was saying.
So, I'm trying to stay more so objected to what price action is offering.
But, another thing, Friday was such a day.
I did not consider my buying power the way I should.
So, I have half as many trades as I can take full size today.
But, it was worth it.
It was a good Friday.
I am actually short QQQ off that break below $3.62.17.
I'm looking to trim going into the low of day.
Or, excuse me, the low of pre-market, which is about $3.61.36.
I'm looking to take some off.
And, right now.
Nice.
Watch Google.
Stocks.
134 put.
CrowdStrike almost in the money.
Stocks after dark.
You watching anything?
Hey, the LMT, you guys, obviously, defense is going to be big.
But, it did just pop up.
Ran right to the 50-day simple moving average.
So, I am looking to see if it gets over $4.35-ish.
And, possibly take it up to, like, $4.60.
I'm short.
Microsoft, stop over high day.
CrowdStrike, 180 calls in the money.
Please secure your profits.
Hey, Wolf.
I'm watching pretty much what everybody else has voice already, right?
Oil, defense contractors.
I think, just can't wait for the dust to set a little bit right now.
Just let the market...
Turn on Microsoft.
A few minutes.
Just like a couple other people said, like, Friday, we had a massive day, right?
We had an outside day.
Bullshit golfing, however you want to term it.
And, we did close closer toward the high.
So, I am expecting, you know, if we're trading algorithmic, then I'm assuming that we're going to attempt to take out the high.
But, we did make a powerful move on Friday.
So, I do expect some kind of consolidation a little bit right now.
But, just like everybody else said, just watching the normal stuff that happens when we have a war-like event going on.
Got it.
It's a pretty sharp sell-off here in Israeli-based companies.
Mobileye, in-mode, cyber.
We had the gap down in S&P today, but we have our resilience indicator in ROC scooters very positive.
So, this is probably going to try to run up and fill the gap today, at least retrace a little bit of the downside.
I'm looking for futures to fill the gap, at least, for now.
Watch meta 317.5 calls.
StockTraderHub, you can come up on stage.
He just alerted DDOG $87 puts.
Watch Palantir 17.5 call.
Yeah, if you're looking to go along, I'd focus on the S&P, NASDAQ, contextual and relative weakness.
XOM, X-ray offer.
Michael, save you a lot of decrease activity.
Take another trim on Microsoft and another trim on Qs.
CrowdStrike, new high a day.
Those 180 calls are heavily in the money.
Don't forget to secure your profits, please.
We'll work your stop losses.
Yeah, that was a quick 40% right there.
Right into the money.
She's ripping.
Is there a catalyst?
Cyberstrikes.
Part of the, as you guys know.
Oh, they hacked their daily website, yeah.
Yeah, exactly.
That's a good point.
Is there any other...
Yeah, Palantir.
So we did the 1750 calls for Palantir.
So that's another one.
That actually feels like a good, like, week-long play.
Another potential one could be Cisco.
Hey, so it doesn't...
Oh, I just got stopped out of Google.
Fuck.
Google's ripping.
Microsoft, new high a day.
He took the 317.50 calls.
You guys, are you worried about Palantir getting any backlash
from the Iron Dome situation?
Don't they have a big part of that?
I'm not worried about any backlash regarding that.
Okay, but that is correct, right?
Aren't they involved in the...
Aren't they involved in the Iron Dome
or whatever they call it?
I get what you're saying.
There's no...
You're not worried about backlash.
I just want to make sure I have that information right.
Any company that has the software backend
that Palantir does
would be involved in the Iron Dome.
Yeah, okay.
And the reason being is
because it's the software architecture part of it.
Okay.
Makes sense, yeah.
So in this particular case,
Palantir would manage the analytics portion of it.
Long EF.
My spy channel says that we're going from 427 to 431.49
to 426.63.
That's what I think.
Yeah, we were just looking at Google calls.
You know, it's a good risk to reward,
but it's just, you know,
probably the downside is just as good, you know?
No guarantee.
I will say this.
I mean, obviously, defense and XLF
are performing pretty well.
So if one, you know,
we're either going to see the NASDAQ snap back, right?
And obviously, that'll push everything higher.
There goes the alert for SPX.
Or vice versa, but it looks like up.
But anyways, yeah, no, that's good to know.
Thanks, Mikey.
You're welcome.
Personally, I think Spy is going for the gap bill
on the upside.
However, we're $10 off from that gap bill, more or less.
So to be bullish,
you need over, in my opinion, 433.18.
I mean, that's, yeah.
Yeah, I mean, that's up there a little bit.
But I'm watching, I mean, anything,
if we can get over, like,
especially for 429, I guess,
but it's the top of the zone,
but then there is some liquidity up there.
Anyways, we're breaking over that 9 EMA on the daily.
I mean, it's just a general, you know,
general level,
but the fact that he held under for so long
is fairly handy.
So if you're going to play any of the war kickers,
like LMT,
Northrop Grumman,
or anything like that,
my suggestion
is that you secure profits,
regardless of what's happening right now
in the economic,
I mean, in the macro world,
I suggest that you secure profits
because you could find yourself
in a particular where,
yeah, there might be ripping today
because of all the news that's happening,
but tomorrow they could fall off the cliff.
So just please secure profits.
Dude, that's, yeah,
that's exactly what I,
I guess we do,
we got clips now on Discord,
so I played with that this morning.
Yeah, I just wanted to add on to LMT.
So LMT has earnings this week.
On Wednesday,
so good look out.
If you are in long,
take your profits
because like somebody said,
you never know what happens tomorrow
and especially earnings in this week.
Pan W, 255 call.
Pan W.
Another one like CrowdStrike.
We've been,
we've been stalling hooks
for LMT the last,
like,
well,
we were doing it,
I don't know,
up until about a week and a half ago.
What type of size are you taking today, Mikey?
Normal size or smaller
just because of the volatility?
Normal size.
But there's a lot of people
who cannot trade today.
A lot.
A lot of retail.
Yeah,
cash accounts are all fucked.
Yeah,
whoever traded all their cash account on Friday
got fucked for today.
Yeah.
That happens like twice a year,
I think,
right?
That the,
that the banks are closed
but the market's not?
The equities market?
Yes,
sir.
I think twice or three times a year
or something like that.
Dude,
it screwed me up.
I thought I,
last week I thought that,
you know,
they celebrated the holiday,
so I had,
I thought the kids were off.
Hell no.
My wife's like,
what the fuck are you talking about?
This is like Saturday,
Change plans,
but.
Sorry.
The tape's showing yes
is a 40,
30 years is the level
that we need to break
in order for more upside.
It already hit,
it already is part,
partially gap filling right now.
Yeah,
and we're approaching that,
we're getting close to 4,300
or yeah,
4,300 on SPX.
I mean,
we're still like seven points away right now,
depending on where we're,
where we're bouncing,
but.
But,
but I mean,
you know,
there's that,
this is just kind of that pivot point.
I almost like,
I mean,
I think there's good risk to reward.
Well,
here's the thing,
right?
Looking at XLF,
there's a gap fill up at just over 33 bucks.
We're not quite,
we haven't quite filled that yet,
but I'm wondering if that fills,
if we start to see rejection,
that,
that will,
that will drag down SPX a little bit.
Again,
it depends on how the other sectors are doing,
but.
Trimming a quarter,
yes.
AMD,
AMD 110,
call.
Trimmed a quarter,
yes,
there.
Nice on 10 W here.
Yeah.
AMC.
like think what you may about this particular ticker.
That's fine.
But personally,
given what's going on and what they've recently done with their debt refinancing and what they're allowed to post in their books and what they're not allowed to post in their books is going to look a lot better.
I mean,
I think AMC is going to go up personally,
but that's just me.
When AMC has earnings,
you're going to see a lot of numbers going to be thrown at you.
It's going to be very,
very,
very positive,
very positive.
In my opinion,
all the CEO needs to do on AMC during that conference call is explain to the world how much money that they have and the fact that they do not need to dilute anymore.
If he says that this thing is ripping or ripping turned another quarter.
Yes.
What do you want to tell you about?
You know,
that's yeah.
I mean,
I can see that happening.
I mean,
they changed,
they changed what the portfolio looks like.
I mean,
basically what you're saying there.
And it's like,
it's,
it's now,
I mean,
tech,
you know,
now that that's done,
I mean,
yeah,
it pissed people off that they,
that they did that,
but now that it's done,
the books don't look that bad.
yeah,
they don't look that bad.
They don't need the money.
And to be frank,
they didn't need the money when they did it the last time either.
They just did it.
I mean,
if you look at their financials,
you can clearly see they did not need the money at all.
Yeah,
I don't,
I don't,
I didn't pay attention to it when it happened last time.
I just know,
or yeah,
two times ago or whatever.
But yeah,
this time around,
I mean,
they,
they're basically,
I mean,
whether they need it or not,
right.
They don't,
they don't need to do it.
I don't see them needing to do it anymore in the future.
You think there'd be any worry of them doing it anyways,
just because of your opinion that they didn't need it previously either.
There's that just,
I mean,
I don't know.
Maybe that's too deep,
you know?
Well,
let me put it to you this way.
If the CEO is,
so he still believes that he's,
he's,
he's doing a favor to all the apes.
Okay.
So if he truly believes that,
and that is truly his mantra and truly his,
his actual thing,
then he would do what I said.
It would be in his company's best interest for him to say that,
knowing what he knows about the demographic,
of his shareholders.
Think about that for a second.
Right.
Yeah.
How many times have we heard companies say,
how many times have we heard companies on conference calls say that kind of thing?
Right.
A lot.
So why can't they?
So if he doesn't,
or if he doesn't and he dilutes again,
then he doesn't give a fuck about his shareholders.
Period.
And the story.
Right.
Story's done.
In my opinion.
Yeah.
But I,
I can't imagine.
I don't know.
Yeah.
I don't see that happening.
I feel like this was,
this was like a longer game move,
you know,
to set them up to actually,
you know,
stay viable,
stay,
you know,
stay,
stay out of bankruptcy,
I guess.
Right.
Yes,
sir.
I mean,
it honestly set up the longevity of the company or at least a strong possibility.
yeah,
that's,
that'd be interesting.
When,
when is,
when,
when is their earnings next?
I don't know if hand,
I can look.
Nah,
I'm sorry.
I don't know the exact date.
Yeah,
I can look it up,
dude.
It's fine.
But I'm another quarter here.
Have a one quarter ES left and stop is that entry.
Don't forget.
AMC.
Don't ripping it right now.
Don't forget to trim some,
some meta.
Okay.
Because we get the three 17 fifties that hit three 17 25.
I don't think AMC has confirmed it yet,
but it looks like the seventh.
November is the estimated time for their earnings.
Pan W new high a day for those who took the two 55.
Sorry about that.
Yeah.
Nice job.
I see more people loading those Palantires as well.
Hey,
what?
I mean,
looking at the daily on AMC,
I mean,
there's a gap up there,
right?
At 11 75,
right up to the supply on the daily at 13.
So 13 to,
what is that?
13 70 or something.
I mean,
that's,
I don't know.
You know,
I don't trade it that often unless it's like got the hype going,
but this thing,
it doesn't look bad,
but yeah,
I see on trading view.
I see the,
the 9th of February of November,
but you said the 7th,
right?
and obviously it's not confirmed either way,
right?
Correct.
Yeah.
So it's just estimated about two to three weeks before they will confirm it.
So next week,
probably.
Cool.
Yeah.
Yeah.
You should see a bunch of news disseminated this week that for,
for all the large tickers,
so-and-so is having their earnings in this state.
So-and-so is having their,
you know,
post-ramping.
You should see a lot of that this week.
Yeah.
So far,
I've only seen meta.
That's announced it.
Everyone else is kind of just estimated.
Come on.
We're almost,
we're almost back in earnings season.
So this Friday,
13th.
I know.
Well,
that's true.
It does.
Yeah.
Right.
Right.
I did hear that too.
Yeah.
It's,
I mean,
you know,
earnings.
There's actually been some interesting companies the last,
I haven't looked at any this week,
but last week there was a couple.
I didn't trade any,
but this week you got the banks on Friday.
You got Pepsi tomorrow.
You got Delta,
Domino's,
et cetera,
on Thursday.
And then,
like I said,
JP Morgan,
someone on trade?
JP Morgan,
United Health,
BlackRock,
Wells Fargo,
Citi.
Just something interesting to note.
If we are getting historical data,
historical trends,
February 24th,
2022,
last year when Russia invaded Ukraine,
we can kind of use that as a,
I don't know,
blueprint layout or maybe a data point.
To see what the market did compared to today.
Right.
So kind of the same thing dipped during the Asian London session and then
rally during the New York session,
similar to what we're doing right now.
Just something,
food for thought.
Meta three,
1750 calls in the money.
Please secure your profits.
Tesla two 60 call October 13th.
High risk.
Crowd strike.
New high a day.
Pan W ripping.
Almost in the money.
I expect Andy to rip as well for 110 calls.
I apologize about Google.
I got that completely wrong.
Text taking off.
Yeah.
Do you want to,
do you know why?
I never need to know why.
Alrighty then.
What are you thinking?
What are you thinking,
Mikey?
Why tech's moving here besides the cyber stuff?
Again,
this is just an opinion.
It is not fact.
In fact,
some of you might think I'm crazy for thinking what I'm thinking,
but it is what it is.
Holy shit.
Snowflake.
What?
What?
What?
Give me one second.
Sorry.
Yeah,
you're good.
Pan W still ripping here.
Contracts.
Up a lot.
Yes,
sir.
So I,
so when the market opened,
I expected it to rip personally.
I expected everything to move up.
And the reason being is because of what's happening right now.
I know that doesn't make any sense whatsoever,
but it is my personal opinion that.
U S markets needs to show their strength.
And you're regarding the tech world.
So think about it like this.
Again,
I'm only saying this because this is stock market related.
It has nothing to do with politics or any of my personal views or anything
like that.
It's purely stock market related.
So in my opinion,
I think Iran is aiming for a confrontation with Israel and the U S.
And despite what your personal feelings are about Russia and Ukraine and
what's happening over there,
I think Iran is looking at Ukraine and seeing that as an opportunity.
And the timing is pretty opportunistic to be honest with you.
You know,
if everything continues the way it's going to continue,
the U S is going to assist and send aid and so on and so forth.
Then that means that the U S government is going to be forced to print
trillions of dollars as,
as it struggles to raise some debt.
Right.
And essentially another conflict or another war would lead to,
in my opinion,
significant increase in inflation and accelerated decline of,
of the U S economy,
in my opinion.
Yeah,
definitely better than seeing them have a massive sell off.
certainly.
let's see.
Wow.
LMT up 8%.
small,
small pullback here.
So if banks and airlines,
banks and airlines are tanking right now.
Yeah,
they're getting their shit.
So one of the,
another thing you guys could do for,
from a historical standpoint is go back and take a look at all the data.
From a one minute perspective,
I say one minute perspective because you need to see how the market reacted.
And you can see that under one minute.
so go back to when the Russian war started,
right?
One day we were fine.
The next day,
boom,
right?
Same thing in this type of situation.
What did the market do?
What did oil do?
Did oil rip and then started falling off?
Look,
look at those type of,
that type of data.
And you should have a,
kind of a consensus or,
an educated consensus,
I should say,
of what potentially could happen.
So keep an eye on some of these stickers as well.
So keep an eye on some of these stickers as well.
So keep an eye on some of these stickers as well.
Gush,
G-U-S-H.
It's,
oil and gas ETF.
Holliburton as well.
And GD,
General Dynamics is a big one.
Yeah.
Gush likes to go nuts.
Yeah,
she does.
Gush is always fun to trade.
I think with GD we can do,
37.5 calls.
What's,
sorry.
Two 27 points,
two 37.5 calls.
My bad.
Can't talk.
Looking for a full gap fill here on my remainder quarter of ES.
What's up,
Shark?
Hey,
how's everybody doing?
Fucking killing it,
man.
Let's go.
What's going on by you?
I'm checking out this oil trade potentially here.
I'm looking at,
crude.
But I'm just being very careful today because you don't want to get stuck on some news anywhere coming out.
Northrop Grumman up 10% here.
Yeah,
RTX and LMT.
We're up in.
I still think this week looks bullish.
if we're able to hold the lows of the day,
I'm going to expect higher prices later this week.
So watch,
I've been saying this is four 85 and I cannot alert in this ticker because the volume on the contracts are way too low.
UNH.
I had shitload of resistance at five 13.
And it finally broke through third time was the charm.
And now I think we're going to five 33.
Again,
sorry.
You're good.
Doctrator hub,
you taking anything here?
not yet,
bro.
I'm watching GS puts still holding those data dog puts.
If you're holding data dog puts,
please be careful.
Use snowflake as a potential of where data dog can go.
They usually like to move together,
together.
Data dog also likes to drop.
And if snowflake is performing,
all of a sudden turn around and move up and catch up with her.
So keep that in mind,
please.
Anything else there,
stock trader hub?
bro.
I'm,
I'm just patiently waiting on those words as of now.
Looking target 43,
40 on.
Yes.
Yes.
Yes.
Yes.
Yes.
Long on cues,
risking that pre-market high.
We'll just call it three 62.
Let's call it 85.
Matt,
have you taken anything?
Palantir or 1750 calls for are,
are in the money.
Please secure your profits.
Sorry,
brother.
Yeah.
Very good.
No problem.
yeah,
I got in.
I was long spy right out the door for the gap fill.
I just traded through,
half gap resilience.
I told you guys,
right in the market opens as a clean,
easy play.
Long S&P futures,
super out the door.
And then,
just recently closed down my trade.
So it was pretty,
pretty decent scalp.
And by a trade at small position,
just because we got down so much.
And,
yeah,
so everything's pretty clean today.
I don't expect much from here,
but,
this is a nice little easy scalp.
Yeah,
nice job.
Yeah.
Well done,
bro.
Nice to be just rejected.
Taker Oxy Oxy Oxy Oscar X-Ray Yankee,
and Taker to take over now.
Come out of the trade side.
I said,
I said,
I'm going to go to the office.
It's only a bathroom after the S-O-L-E-R.
I have a deal.
The T-X-D.
Come on,
man.
keep it going.
watching these banks like CACC and Goldman Sachs and some of these
others,
seeing if we can get a little further drop here.
about the banks.
You just reminded me.
So for the earnings this,
this Friday,
make sure you look at the credit default swaps.
That's going to give you,
that should give you an indication of how they're going to perform or how
they're going to not perform.
that's the word I'm looking for.
how their earnings could potentially be.
Jesus Christ.
Surprise.
Something like that.
Evan,
has anything else come out since the open?
Anything interesting you're seeing?
Any big movers?
Nope.
Nope.
Nope.
No big moves.
Huge moves.
Yeah,
I know.
And we got into them.
And we got into them.
Those are Wolf's words.
So I don't know what he's talking about.
Wait,
what?
You asked any news.
I said no.
And then you said any movers and I didn't respond.
And then you said what?
okay.
I missed that too.
I see.
I see.
A new high on Pan W a few seconds ago here.
Okay.
So everything should rip now because of the data that just came out.
FYI.
Please move up your stop losses to secure profits.
This is how you grow,
especially on a date when you thought that everything's going to be fucked up.
Nice move there,
Blake,
as well on that.
Yes.
Thank you,
sir.
Let's go,
baby.
That got to where you were looking,
right?
Say that again,
God.
That got to where you were looking.
Yes,
sir.
That's why you always hold at least one runner.
That's,
that's what happened to me last Friday.
I trimmed a little too early and thankfully I still had a big enough size where I was able to capitalize on most of that move.
It was incredible.
Yeah.
I'm,
I'm short Tesla right now.
the two 55s,
down trying to reach,
two 51 somewhere in there.
It's just,
it's looking weak,
you know,
it's holding underneath,
what was support there for a while.
So I hope that I,
I don't know if I've calls.
do you shit?
I walked away for a minute.
I didn't know.
Or is that something you've been swinging?
I mean,
it's not after dark.
You've been,
you've been,
stocks after dark.
You've been taking anything.
I just been wanting us right now.
Still long.
Yes.
Right now.
Yeah.
I got a couple of runners left.
Still targeting 43,
That's just what I'm seeing on the tape right now.
And that gets us closer to the gap.
Phil.
Registering rocket signer.
Simon's red in Jerusalem.
In Jerusalem.
That's a bridge.
Matt,
I'm curious if you're able to speak,
man.
I'm curious if you're,
seeing any,
anything over on your platform,
rocket scooter.
I will tell you for those while we're waiting on Matt,
when everyone's pop in hedge pressure day is four to seven months by.
So if we start dropping here and we break through four to eight,
I'd be looking for a quick move from four to eight to four to seven.
Unfortunate that push was about four cents from,
from a trim on cues and then stopped out,
break even on the rest of that position.
we'll see.
It's kind of looking a bit rangy.
I like the opinion that,
with the data,
we look like things are just kind of speeding up to the downside.
one thing I am looking at specifically is AMD came down to this one Oh four,
94 spot.
if we are lucky enough,
I would love to see it bounce back into the lows of the day.
if not,
you got Microsoft that's actually at its red to green spot.
And if we do see some follow through,
I'm going to go short on Microsoft here with,
three 25s and put a stop at high of day.
Now,
Microsoft was showing a bit of strength while names were,
well names were either consolidating or,
you know,
finding some,
finding some lows.
So we'll see,
we'll get a trim off.
I want to take a trim on Microsoft about three 25,
45 for a good risk reward.
Very nice.
Very nice.
Thank you,
Craig.
Alrighty.
So Evan,
doubling back on that question.
I saw you just put out crowd strike new 52 guys.
Any other new 52 guys right now?
Yeah,
there's a,
there's a couple of new 52 guys,
Activision Blizzard,
but that one's kind of more the,
the play that might be getting closed on Friday.
CBOE and CME group.
CBOE's building 52 because and pin dealer duo as well.
The only real ones that people would know 52 week low list has,
lucid Southwest airlines,
Nokia Whirlpool,
a few others.
I scaled into a small position in MNQ.
I'm,
I'm,
I'm playing light today.
I already covered a third of it.
but you know,
maybe we test the lows here.
I got stopped out on part of it when I started putting it on.
I started thinking maybe they're going to fill that gap,
but I think,
I think we're going to be choppy.
I got some pretty extreme moves.
Hey guys,
sorry,
I'm back.
yeah.
So today,
like,
basically we,
this is a pretty strong signal for a quick upward scalp and getting it out.
I was talking about it on my stream earlier.
you know,
we have a resilience indicator,
which is a gap will predictor.
Right.
I was predicting that supply was going to try to fill its gap.
I usually trade to the halfway point when you have certain conditions that it kind of spooked me.
those conditions were there today.
We didn't have,
you know,
we gapped down too far for me to really want to go in too heavy and long,
but I basically traded right at the low and got out right at the high.
So essentially didn't do too much.
still on the fence on if it's going to actually fill its gas.
As a matter of fact,
I'm talking,
there's a bunch of red candles coming out now.
It's one of those days where you can just tell,
right out the door.
It's not directional.
And our,
our tools are really good at telling you that it's just going to be choppy and all over
the place and scalping small from support to resistance and just kind of calling it a day.
And I think I'm going to maintain that stance.
There's just too much going on with futures gapping down as much as it did and playing in
this low range.
I usually don't like to come in hitting it hot.
Like,
like I'm trying to gamble or play big reverses or sell offs or anything.
I just kind of scalp in the middle of that volatility and know that there's some small
opportunities there.
And,
you know,
like my long scalp was probably like two,
$300 profit,
nothing too big,
but got in,
got out and kind of on the sidelines.
I'd rather watch this for the day and see what it does.
Not too excited about going any direction right now.
GD new high a day for those who took the through,
two 3750 calls,
man,
we were killing it today.
Jesus.
I'm doubling down on that play from you.
Traders retreat.
I really liked that.
putting some Tesla thoughts.
I just pinned,
to the top of the space for this.
I want to see the chart with the level.
and I just posted it on my timeline on this Tesla play where I see it going in the next
20 minutes.
Yeah,
I like it.
I am watching,
you know,
right around this,
like two 55,
I don't know what the exact level is.
Hold on.
We're basically,
we're still under,
yeah,
like two 55.
Oh seven.
Spoil pushing up,
but we're hanging underneath it nicely.
So I'm watching LMT as well.
We did close the hour under the 50 day simple moving average.
And I have a zone right here,
four 31 50 to four 34 62.
So we did just come down and retest that the bottom of that zone.
Although with the,
I hate,
I wanted to go long,
but not sure if I'm going to do it with,
with the 50 day,
just sitting right up over,
you know,
above.
So I may wait,
I got an alert up over,
four 35,
what is that?
Four 35 57.
So you can just say four 35 50,
but I'll tell you what,
I mean,
SPX coming back down.
I could easily see,
I don't know.
I mean,
we're already right.
We're back on,
yeah,
we're back under 4,300.
So 75 is definitely up for grabs.
If we can,
you know,
if we break through,
42 90,
I think.
Hey,
Frank.
How are you?
Sharky.
Hey,
what's up,
bud?
Hey,
what's the,
the current,
MCL,
or the,
CL contract?
Is it CL X,
is it X,
L X three.
You know what?
I don't know.
Let me take a look.
Or is it,
Z three.
Yeah.
All right.
Nice push over 86 though.
Let's scale again.
Yeah.
As long as Kiki Q holds three 62 today,
I'm going to be looking for more upside this week.
G D G D 30,
two 37 50 calls in the money.
Please secure your profits.
Move up your stop losses.
And that's fucking wrong.
Wow.
Wow.
Pan W.
Okay.
Still,
still holding,
still going.
Yes,
sir.
I don't see up 11 and a half percent now climbing all morning.
These contracts have to be nutty.
Holy shit.
Make that face.
You know,
you love it,
dude.
These contracts on NOC.
The four 55 say that they went up 194,000% today.
Is there liquidity in it?
Yeah.
I see 14,000,
19,000.
Let's take a look at the liquidity.
I don't know.
I got no stock up.
Meta is absolutely ripping face.
Yeah.
Yeah.
Basically these all went from like a penny,
a contract to like 20 bucks.
And that's how you make 10 mil and walk away.
Right.
Sharky.
I'm not sure.
So I,
speaking of which,
I'm trying to,
I'm saying no,
I can't look.
I'm in it.
I got you.
Those contracts have like one volume,
two volume,
like the max at a hundred.
So no.
Yeah.
The four seventies have one 20.
Also,
the spread is massive on them.
That's what she said.
And red candle.
Crowd strike up four and a half percent now.
Google going green.
And Tesla hit target right there.
Yeah.
I was just going to say,
start logging that shit in,
man.
two 54,
but I do think it comes down lower,
but,
two 52,
67 is that zone top.
Obviously we chopping around enough that it could reverse,
but,
that was a nice little drop there.
You guys trade a N O W service.
Now the ticker is now N O W it's,
it's had a nice little change here.
And,
yeah,
I'm thinking of shorting it,
up around like,
you know,
five 63,
five 64.
I haven't,
I haven't traded in a while,
but it popped up.
It's one of the ones that we tracked the expected move for the,
the week on.
So I had to do that.
My member that does it for me was out of town,
but,
so anyways,
it popped up in my,
like my vision.
I was like,
well,
shit,
this doesn't look terrible.
I mean,
it's not,
I don't know,
just shorting it down.
I mean,
you know,
short from like five 60,
even just five 60 here,
but five 64 would be fantastic back down to the five 50 and then catch the
extension,
right.
You know,
give yourself enough time to catch the extension down to five,
five 35.
Pretty good payday.
Google new hive day.
I believe met a new hive day here.
Yeah.
Just kind of came.
It was.
Yeah.
It's really nice.
See if we can get Microsoft to just go a little bit more here.
Oil pushing up higher.
Beautiful.
I don't know what contract I'm playing,
but it's working.
It really doesn't matter if you're just,
you know,
if you're day trading in and out,
I mean,
you know,
make sure you're looking at the right chart,
I guess,
but for entries,
but it's once you're in it,
fuck it,
you know,
price action is very similar.
that's not financial advice.
You should always know what contract you're trading,
the charts going up,
go long.
Palantir new high a day for those who have the 1750 calls.
What's up?
H Paul.
I think we got you up here now.
You watching anything specific in the market.
You just have to tap that unmute button.
Hi guys.
Thanks for having me on board.
Yeah.
Yeah.
I'm watching a few things.
A few things got my eye on is a meta short at the moment,
looking up here for a,
for a short in this,
this area.
long,
I'm a slightly longer term swing trader.
So I'll be looking down to the,
about 270 region over the next month or two personally,
looking to see the S&P head up a little bit further in the next couple of days or so.
I'm long term swing short from the highs,
basically up at four,
five,
60 area,
essentially.
I'm looking for a lot further down,
but a push back up to the 45,
60 area before some.
You're good.
You're good.
It's just people have squawks going on in the background.
No problem.
Sorry about that.
Yeah.
So look,
a bit more downside after a push up on the S&P.
So I'm long term swing short on the S&P and looking for a lot further down on the S&P,
you know,
down towards the potentially the 3,900,
80 area of the longer term short silver have been short silver for quite some time,
looking for a low longer term,
$17 area,
believe it or not.
As crazy as it sounds,
I'm not intraday.
I'm more sort of swing generally on this stuff.
If you go back and look on my Twitter,
you'll see the,
see the calls from the lows and the highs months in advance.
So I do do swing trading a few intraday hedges.
you know,
I'll hedge long on this,
the short that I'm in at the moment,
personally.
So it's a slightly different trading to some of the style of the guys you're talking to.
but,
nonetheless,
you know,
in there,
in there and amongst it.
which sort are you in?
So I'm in a,
an S&P short from,
from the highs,
from the four,
six,
four,
six area,
essentially silver shorts.
these,
these are not intradays.
These are swing,
swing shorts.
I posted on Twitter.
I'm looking for a short on the,
on meta to be fair.
today.
I'm looking for a lot of downside on,
on meta.
They're looking down towards the two 70 area of the next coming to a couple of months.
but yeah,
I don't see,
I don't see a meta going much higher than this personally.
so what else we looking at?
Orange.
Looking to short that as well.
I say a really,
there we go.
big book.
There we go.
I expect spy to make a new high a day.
Yeah.
Yeah.
Yeah.
Yeah.
It's interesting.
A little,
a little bear season from age Paul coming in here.
Very much looking for the,
looking for the short longterm,
longterm bearish.
Yeah.
Yeah,
absolutely.
I mean,
obviously hedging,
hedging longs where we,
you know,
we're finding support and things,
but,
yeah,
definitely looking for shorts,
shorts,
the highs and longs at the lows.
That's,
that's me basically.
Yeah.
But,
yeah,
looking for a lot lower on the S and P over the next coming,
coming months and,
the UK foot seat too.
so whoever's in that Tesla short,
I still like my two 65 calls.
so I'm,
I'm in that.
And I'm so be careful on that,
please.
And then also I expect slide to make a new high a day.
Yeah.
We took some profits off.
but it is pulling back up over that nine.
I mean,
it's the thing is,
man,
two,
two 56 50 is,
it's what it's a zone that I've had.
It's the bottom of a zone.
It also was support there for a little bit,
last week.
And I just watching in pre-market,
you know,
we can't get an hourly close back above it.
That's,
that's the only,
that's honestly the main reason I liked it down to,
to two 51,
two 52 ish,
you know?
so yeah,
you know,
stop out of the rest of these,
so be it.
But,
we're definitely bouncing around a little bit.
I mean,
Apple still has a few dollars,
like a dollar to go or 50 cents to go to fill its gap.
I feel like,
Microsoft hasn't filled the gap.
Google did,
but,
and NVIDIA,
look at chips.
They haven't fucking moved,
but SMH doesn't look terrible either.
It looks like it's,
it's actually in a spot.
I was just telling or talking to the group about is,
you know,
if it holds,
I'm not going to do anything until the bond market opens up for tomorrow.
cause I'm just,
I don't really want to put a swing on with it,
but if it holds SMH,
I mean,
it may be a long in that,
you know,
for,
for the week or something,
you know,
for the next few days,
but we'll see what tomorrow brings.
everybody looks at a Bitcoin here.
Bitcoin had a little bit of a dip.
It looks like.
Watch meta for the new higher day.
you're looking for a bit of a pushup on Bitcoin,
to be honest with you before another move down,
I think,
you know,
up to the potential personally.
30 would be great.
You know,
or 31.
Wow.
Yeah.
I'm looking for a,
for a nice short around that.
Just,
just,
just above that 30 area.
Yeah.
I'd be really nice for a,
for a nice short there personally,
but looking,
yeah,
looking to take it up,
ride it up there a bit.
I think first,
a slight pullback before a pushup.
I'm hoping for a Bitcoin.
It's down the,
yeah,
it had a,
it had a nice weekly,
two weekly closes really,
you know,
held the bucks.
because we had gotten down,
I thought it was going to continue to drop,
but 25 is obviously strong.
And the thing is have held under that,
that 200 day simple moving average,
which,
you know,
doesn't mean shit in Bitcoin if it really wants to run,
but I could see,
I could see like 80,
or yeah,
29 K being,
you know,
a bit of a ceiling possibly if it's going to roll back over.
Or yeah.
But yeah,
anyways,
yeah,
there's definitely short opportunities.
You know,
I wouldn't short it here.
It's yeah.
I just want to back up maybe 28,
you know,
or 28,
one,
something like that.
Yeah.
I think a lot of people are going to be looking to show that 29,
two area.
And I think we'd get squeezed up past that.
And that's the point where I want to get in the short when we get squeezed,
squeeze those short as a 29 area.
And get in the short around about 30,
30 ish.
I think that's,
that's what I'm looking at.
I'm Bitcoin.
But yeah,
there's a lot of stuff,
lots of going on at the moment.
It's exciting,
exciting times.
you know,
it's on the markets anyway,
that is,
I should say,
but.
Oxy new high a day for those who took that $64 calls.
You're going to be in the money shortly.
One,
two,
three,
four.
That'll be the seventh in the money call out today.
Yeah,
definitely on fire,
man.
I've,
I've been,
I've been taking some plays.
Appreciate the sushi money.
Yes,
sir.
I appreciate you having me on.
Yeah.
I'm glad I was able to convince you,
you know,
that the market was open.
I know,
right.
You don't understand how freaked out I was when you messaged me that.
I'm like,
what?
Like I have all this shit planned.
And I was like,
oh my gosh.
But then I was like,
okay,
bond market,
bond market.
Well,
ironically,
the same thing happened to me just in reverse when you told me it is open.
I'm like,
I'm glad I wasn't the only one,
man.
I put out a post last week.
I had to,
I put a correction out on it for what it was worth,
but I'm like fucking idiot,
dude.
Like,
I mean,
I thought the kids were off school and I thought the fucking,
the market was closed.
I'm like,
how is it not closed for Columbus day or even the indigenous holiday,
whatever.
So fun fact that they used to close the market for like 40 years.
It was any year that it was an election year from like 1960 to 2000 or something.
They closed the market on Columbus day,
but then they stopped that.
Interesting.
Okay.
Yeah.
Yeah.
Yeah.
I mean,
it makes sense.
I know,
you know,
I just missed it.
I see a double bottom on the video.
If she breaks here,
I think she's going to go to four 50.
For sure.
I mean,
if NVIDIA wants to run up,
I can see a four 54.
Probably.
Obviously you wouldn't want to just hold it all the way up through.
But there's four 52 25 to four 54 12.
It's been a pretty good,
pretty good zone to kind of play in and out of.
Every time we get near it,
short it.
This gap down really.
I don't know.
You know,
just again,
without,
without,
with the banks closed.
I mean,
I don't,
I know not,
I don't know if all institutions took the day off,
but I mean,
a lot of the,
a lot of the volume got no way off,
right?
they're all in front of their computers.
No freaking way.
They're using today as an opportunity.
No way.
You don't think that,
that the,
the ones,
I mean,
the funds and shit,
you think funds are trading today?
A hundred percent.
Yeah,
they have to,
they have to.
It's to be honest,
there's been too many of these like world catalyst events that they probably
have missed out on.
Cause that mindset,
I think that people just like,
can't do it anymore.
Yeah.
I mean,
I agree this whole pat,
I mean,
past three years.
Well,
I mean,
especially since,
whatever,
since we started dropping,
there's obviously been the low volume days that,
I mean,
since we,
since we rolled over since,
you know,
beginning of them raising rates,
the low volume days pushed,
I mean,
they pushed up incredibly.
so yeah,
I'm not anyways.
Yeah,
it's a good point,
but we seem kind of stuck here,
but maybe we're going to make a move.
You know,
go for sure.
spy still bull flagging here.
Yes,
sir.
She is.
I want a new hire day.
Come to poppy Chula.
What's up?
Shark?
Evan?
I was just saying about this bull flag.
And then I,
sorry,
interrupted Evan.
I was not going to say something too relevant.
I was just going to say,
low key kind of disagree with you guys.
if you give someone the day off and tell them to work,
that doesn't tend to go well.
I feel like you told them they got the day off.
They're going to take that day off.
That's just my personal opinion.
Yeah.
It really just,
it's dangerous.
You don't want to get some,
a news squawk at hit at any moment and who knows what could happen.
So it's got to be very careful.
My friend who works at city.
I just asked,
he has a day off.
Well,
at the bank.
Yeah.
Anybody that's like,
I guess any of the big banks that are trading,
like,
I feel like they would be off,
but,
but,
and maybe not,
I don't know.
Like,
you know,
I don't know.
my stepbrother works at a bank,
but he's not,
he's not in the trading side,
you know,
there it's,
it's bank of Ozark.
So he,
but he,
you know,
he manages a department there,
but he like,
obviously everyone that is in hit that,
that he like bumps into is off.
but they don't,
they don't,
it's not like JP,
man,
you know,
JP Morgan fucking trade in your city.
What does your,
what does your buddy do there?
Is he,
is he in the trading department or not trading,
but the,
I mean,
is he connected to the markets or is it more like financial accountant?
not,
no financial advisor.
That's the word I was looking for.
Watch a firm 1850 call.
So not really,
but I'm just,
yeah,
well,
kind of.
Yeah.
I mean,
it's more so than what,
my brother,
is connected with.
Anybody looked at China names?
I was,
I meant to look at Bob this morning.
I fucking did not.
Oh yeah.
It hasn't done.
I haven't looked at it,
but I was looking at the daily on PDD,
Friday thing.
They made what a 7.7% move.
Oh yeah,
it did.
Wow.
And it got over.
I have a,
level at,
104,
Obviously it's holding 105.
Yeah.
yeah.
Problem is though,
the liquidity on some of those China names and the options isn't very good.
Yeah.
Especially the less known ones,
I suppose.
very nice.
By the way,
heads up about three minutes.
You guys know,
I usually run till about 10 30 AM Eastern.
and then we have actually a little algo trading chat.
That's going to come up here.
I'll probably listen to that.
I'm going to have to hop off,
but,
well,
blast and let's go.
Yeah.
Stick around if you can.
She's going to be a good one.
She's going to be 30 minutes.
She's talking about benefits of algo trading.
And I think especially on a day like today,
where maybe all the people that are off work just have algos working for them.
And that's what we're kind of working against.
That's what I was thinking is that,
you know,
obviously like there's,
there's still the computers running in the background.
I just wonder if,
you know,
majority of the staff are off,
but yeah,
I mean,
who knows too.
I mean,
I'm sure small funds are smaller,
right?
Quote unquote.
I don't know.
I mean,
if they have a lot of money on the line,
they probably have somebody in the office.
You'd think,
but anyways.
Yeah.
I mean,
you want me to stay up as a speaker?
I'm happy to hop down.
Yeah.
I'll stay.
you're good.
Yeah.
You're good to stay up.
Yeah.
Cool.
We have spots.
Definitely interested in the topic.
Yeah.
It's a,
it's definitely an interesting one.
Hmm.
We're just stuck.
The next bed speakers at 12.
What was that?
It was like 12.
Yeah.
You were in there.
Yeah.
Foxy knew high a day.
Wait.
Yeah.
It's a nice trade.
Oxy,
man.
Fucking.
Did not,
didn't chase it,
but I was a little bummed.
Cause I,
I should have held my oil position,
but,
I got stopped out of CL last,
I got stopped out of CL last,
last week.
Looking to buy down near 80.
And it literally gaps right back up to the zone.
But what are you going to do?
Could have gapped down too.
And I've been really far,
but.
man,
Microsoft did me dirty,
but,
low vol pushes with,
failed breakouts.
And then it looks like kind of pending breakdowns.
We did see some decent breakdowns,
across the board and some of the names I was specifically looking at,
but not the kind of follow through I'd be hoping for.
So overall,
I'm going to kind of stay patient and,
you know,
I could see today being a very low volume amount of trades.
We'll kind of see my,
my game plan right now is to see how,
see how the market's kind of looking most likely after this lunchtime,
see if volume kind of picks up,
see if there's any decent patterns to,
to risk from,
but I could anticipate a day of patience and not much more,
not many more trades being taken for myself.
I know.
It seems like a big move was,
I mean like Mike,
you caught those,
those calls right off the bat and those fucking paid,
but it's like now even shorts are kind of,
I mean,
I'm still in those,
the Tesla's the,
you know,
that I didn't take profit or,
you know,
whatever happened.
Well,
I don't know.
It's like a third of the position basically,
but,
although it's coming back down,
so who knows,
maybe they'll hit.
This is choppy shit.
Hey,
it's been fun.
You guys,
I'm going to hop on.
I'm just going to be muted and,
but I'll stay up here for sure,
but I got to bounce and,
take care of a couple of things.
Yeah.
No problem.
We have a trick that we do,
and this is the futures exploit.
And this is one of the coolest tools that we have in rock scooter,
in futures,
right?
And if I'm going to write down a quickie little number for the moment,
this number will change when marginal requirements change.
It's pretty frequent.
31 is the magic number for S and B.
The S and P moves 31 points or more futures overnight.
I don't care if it hits it and recovers.
If it stretches that far,
period,
means you've exceeded like the margin risk limits of,
of the expectations of the volatility of the contract.
It's going to be a choppy day.
That's like what we teach people.
So we wake up this morning,
we gap down that much.
We're sitting there that much.
And of course the market's just flying all over the place.
Days like this.
Instructively,
we teach people,
you don't pick a direction.
You don't buy directional calls or puts.
It's random.
If you're going to recover or keep selling,
but there's going to be volatility because of the unusual stretch.
Futures don't want to trade that far from the stock market,
especially in the stock market is closed.
So when it does,
it means there's unusual selling pressure.
so typically it's going to recover like a rubber band snapping back in the
place as it bounces all over the place.
So in our group,
we teach people when you move that distance period for the rest of the
day,
it's like scalp from support to resistance,
quick and quit out quick and quick out,
no direction stuff.
And that's how I traded today.
I mean,
I took a long out the door,
had a gap filled prediction going through,
and then I bailed pretty quick at the first resistance I found and,
scalping called it a day,
but that that's a good rule of thumb.
You can wake up days like this and just say,
you know what?
I'm not going to touch it.
I'm going to sit out and let it and watch.
You're never going to miss anything sitting out of a day.
You know,
it's great strategy.
Well put there,
Matt.
All right.
Really good stuff.
I got my next base starting now.
I've loved this morning though,
the trading that we've done together.
This has been really fun.
shout out to everybody that dropped the winners.
Mikey,
you had a lot of them.
So great job this morning and everybody else,
you know,
good risk management.
Blake had a great move up there on ES,
just some good stuff across the board and a nice,
nice short there by Alex.
Mikey,
did you have any other quick comments where I roll into my next base?
I just wanted to say,
Sorry.
I just wanted to say,
I appreciate you.
I appreciate you having me on the space.
So thank you very much for that.
And,
just remember,
for those of you who are still have runners in some of these plays that
we've had today,
be patient with your winners and be very impatient with your losers.
Do not forget to secure profits and move up your stop laws.
If the market turns around all of a sudden,
which I don't think it'll turn around as vigorously as we've seen it over
the last two weeks.
And the simple reason behind that is because the gamma today is positive.
It's the first time the gamma has been positive on spy and QQQ and a lot
of the tickers in a really long time.
so therefore I expect more chop than whiplash behavior per se.
However,
if the gamma gets negative tomorrow,
then you should expect a lot of that whiplash behavior.
Perfect.
Okay.
Thank you,
Mikey.
Appreciate everybody that's been up here.
We're going to roll into this next space.
We're going to be talking about some algo trading,
which again,
we've mentioned a few times is probably what y'all are competing against today
with people off.
So we've done a couple of spaces so far with the team over from composer to
a platform that I've been using to custom build algos.
And no,
I do not know how to code very well.
I have a minimal Python experience,
but I don't need it because the platform basically just allows me to use
chat GPT and some other pieces and essentially build algos myself,
kind of drag and drop different situations.
But not only that,
I can find them from other people.
So bring it on their team right here.
And just kind of want to give a little bit of just context to why are people
even using algos?
Is this just something institutions should be looking at?
Should we be looking at them?
And the fun part is of course,
that I was able to get a little deal going for our audience and all of you
can actually try this out completely for free.
You have like three weeks,
almost a full month just using code wolf.
I pinned the link in the top of the space.
It's free to try out.
If you do decide you like it afterwards,
if you think you can create ROI,
good.
You can keep rolling with it.
If not,
not for you.
That's totally fine.
But Hey,
stick around for 25,
30 minutes,
learn a little bit about algo trading because it is kind of coming
towards that retail side of things.
So with that being said,
I mean,
here,
let me start off with you unless you want to turn it over to Donovan.
Do you want to give just a brief intro?
Just explain to people what you guys are building with composer,
what allows people to do and why algo trading is becoming more prevalent.
Sure.
Hey,
Wolf.
hope you can hear me.
Okay.
does that work?
Yep.
Okay.
Perfect.
yeah.
So composer,
I think algo trading is becoming more prevalent day on day.
And I think the big thing with composer we're building is a way to democratize access.
We've seen institutions,
hedge funds being able to algo trade and,
and have the resources to algo trade.
And what we want to do is provide that to retail investors and enable them to not necessarily
give them the strategies,
but give them the software to empower them to build their own algo trading strategies.
And I think Donovan could probably go a little bit more into the details of algo trading.
and,
and essentially it's the key thing here is how can we take the emotion out of investing?
like emotions when,
like when times are tough,
when,
how do you remove emotion and how do you use rule-based investing?
But I'll,
I'll,
I'll pass it over to Donovan.
Yeah,
I can speak to this,
briefly.
yeah,
basically what we hear said where at the end of the day,
algorithmic trading is you're trading based on a set of rules.
And that's effectively,
honestly,
like what any trading strategy really is like,
whether you're day trading,
whether you're yearly rebalancing,
doing things like that,
just,
I want to take this set of rules and I'm going to apply it to my portfolio.
and here's how I'm going to manage my,
my money from here.
And so basically what we are trying to enable is the way for you to just automatically apply those rules to your portfolio,
as opposed to you having to,
like dive in and in time trades and things like that.
What was it?
Trivia's finished there.
It sounded like he got cut off for me.
Mirror.
Can you still hear me?
Yeah.
Yep.
I can.
Okay,
cool.
I wasn't sure if Donovan was done there.
It sounded like he got cut off for me,
but perhaps,
perhaps not.
We can kind of move past this.
you guys got to give a little bit of a high level here.
So let's talk about algo trading here.
Maybe you can break down for me,
like how simple algo trading can be.
Like what,
if someone just wanted like real basics,
what they could do with it.
And then at the same time,
how much it can kind of expand out to be something that is,
you know,
taking on massive trades and stuff like that.
How does this scale?
And what's kind of the very basic,
let's say there's people in here that are just retail traders trading some
options,
mostly trading large cap tech,
you know,
what type of strategies do you think are right for them?
Like how do they build these into an algo?
Yeah.
So I think that there's a couple of ways of looking at this.
So on one end of the spectrum,
you've got the kind of technical indicators.
You can go very,
very deep into those.
So if you want to build a momentum trading strategy based on RSI or other
momentum indicators,
you can do that straight out the bat using the no code tools.
So that's in a case where you have technical indicators in mind and you have
certain strategies you want to go into at certain times in the market.
So for example,
when the moving average of SPY is above the current price,
or you can kind of set those specific indicators and then trade based on that
and set those rules.
And what we do see on the other end is that members of our discord community
and members of the composer trading community build very,
very complex strategies based on technical indicators.
On the other end of the spectrum,
you've got people who I've seen who say,
Hey,
I don't want money in my checking account.
I'd rather put a straight,
create a really simple strategy that's based on the bill ETF and some,
maybe the bond market BND ETF,
just so that I've got my money rebalanced.
In a,
in a more kind of sustainable way.
So there's,
there's lots of different ways you can kind of use a composer,
but yeah,
there's,
yeah,
there's two,
definitely two ends of the spectrum.
You've got people who create very,
very simple strategies just to manage their money a little bit more
effectively.
You've got people who use trading indicators.
Hopefully that answers the question.
Yeah.
Yeah.
So Donovan,
maybe I'll bring it back into you.
So let's walk through it.
You know,
somebody has a pretty straightforward strategy.
Perhaps they're just looking for,
you know,
support and resistance.
They're going off a price action.
Maybe they're using a little RSI or some other pieces like this.
They come in,
they're like,
Hey,
you know,
I'm happy to go ahead and give this a try.
I'm interested.
I want to take a look at,
you know,
building my own algo.
It's free for three weeks anyway.
So why don't I give it a shot?
What's like a good place,
just a basic way to start and test something.
And then what do you,
what do you recommend in regards for back testing?
Cause that's an important piece of this.
Yeah.
So that's a,
that's a good question.
So I would probably say the easiest place to start and actually begin to
understand is looking at the existing strategies that we have on the
website.
So we actually basically open source a lot of the community built
strategies.
Some of them are like fairly complex to try to understand.
And like what you were talking about before,
how we have the drag and drop no code editor piece.
It can take a little bit to just like understand fully what that means when
you're looking at how the strategies are built.
And so,
yeah,
looking through the existing strategies,
like getting a sense for that piece there.
And then,
and then,
yeah,
one of the,
I would say,
I would probably say the best way to learn how,
how like the,
the logic is set up is take an existing strategy from,
from the discover page.
And then if you click on the edit button in the top,
right on the fact sheet,
I know this is getting a little bit visual here,
but if you click on the edit button,
it's basically to edit an existing strategy and then you can use some of the
like we have the,
the GPT integration built in to where you can basically just say to the,
to the AI dialogue that we have there,
like explain this strategy to me.
And then it'll give you a plain text version of,
okay,
when RSI does this,
then we are investing in X,
And so that,
that's actually probably,
I would say the best way to start to like grasp the,
the platform itself.
And yeah.
And so then in terms of backtesting,
when you're getting out there,
so starting from there,
you can understand like,
here's how the logic works.
Like,
okay,
I'm going to play around a little bit,
start to create back tests or create strategies that I can then backtest,
see how they would have done in the past.
So a few points on,
on backtesting and it's kind of interesting.
I see we have Garen in here also,
who is,
is kind of running the,
the composer community.
And so he can also speak to this.
I would say,
but like when we,
when we first started getting users on composer there was where there's a
lot of basically like education that needed to happen for when you get
something in the hands of so many people and they're able to generate back
tests on these strategies.
Like overfitting is something that is,
they're very susceptible to just with,
okay,
I'm just going to create a 10 strategies.
Each of them is going to have a backtest over the past year.
That returns 10,000% each.
I'm going to throw 200 bucks in each of them.
And then one of them is going to take off.
Like it has to like the all 10 of these performed really well.
And it's just the building in that capacity just doesn't really work.
Backtesting is a tool.
It's not a source of truth in any capacity.
And so that's something that we've had to do.
Like that's good feedback for us where it's like,
okay,
we give you this powerful back tester where I can build out this really
complex strategy and see exactly how it performed over the last X number of
years.
And so then for us,
like we have to be able to show you better ways of like,
Hey,
the backtest doesn't actually mean everything.
So there has been some changes that we've made over the past few months that
have enabled our users to like understand the backtest better and like
actually gain context to it.
Like for example,
when you look at the community strategies,
you're going to see there's a date set.
That's basically the out of sample start date.
So we'll set it.
You'll see,
say there was a strategy that was made on January 1st,
2023 there'll be a line in the graph right there.
And it'll say like,
Hey,
this strategy was last edited at this date.
Everything before this date isn't necessarily relevant.
They're not in this.
It's not that it's not necessarily relevant,
but the person was able to build the strategy with this hindsight in mind.
Whereas then you can see the true,
like out of sample performance for after January 1st.
sorry,
that was a little bit of a long winded answer there,
but hopefully that answers the other question.
I'd like,
I'd like to jump in here as well.
Can you guys hear me?
All right.
Yeah,
please.
Okay.
So first Wolf,
I posted in here in the comments,
I built a little welcome guide over the weekend.
It's got some tutorials and videos kind of walking you through the basics of
algorithmic design.
It's not complete yet,
but I do have the introduction as well as how algos work.
So you'll at least get a baseline.
In fact,
the next sections I'm going to be building that literally the next chapter is all
about overfitting and out of sample.
So this is a good segue on that.
But if you want to pin that to this call,
that'd be great so that people can check out that,
that guide.
So one of the best kind of analogies I've ever heard used for overfitting is
imagine that you're building a race car for a specific track and you're also
building like a robot driver.
So you can program the car and tweak,
you can tune and tweak the car and program the driver to drive that one track
perfectly.
But as soon as you pull that car off that track and put it onto a new track,
it crashes and burns.
That's essentially what overfitting is.
So when it comes to doing back tests,
back tests can give you like maybe 40% of the,
the idea behind,
like,
is this strategy going to work?
But there has to be a degree of actually understanding and knowledge of the
markets and like how the macroeconomic factors play into the future.
one of the,
one of the other ways you can do overfitting or like kind of stop overfitting
is to think about the amount of trades that are being made.
So composer does one trade a day,
which means if the simpler,
the strategy you make,
the less likely it is to be overfit.
In fact,
I've seen there's kind of like a sweet spot for the average size of an algo
to be profitable.
It's usually maybe 15 to 20,
25 lines of code or branches.
And if you think about that,
if composers trading one time a day,
that means theoretically,
if you have 25 lines of,
of logic,
you have to run that strategy for at least 25 days.
And even then it's not guaranteed that every single branch will actually fire.
So it's,
it's a good idea to always keep your algos as simple as possible,
because theoretically,
if you build this massive,
huge complex algo,
that's got like 365 branches,
it would take an entire year just for it to fire off every single branch to test whether it's profitable or not.
And there's a really high chance that it won't fire all 365 branches.
So those are two kind of things to think about or visualize when it comes to doing overfitting or thinking about overfitting is try to keep it as simple as possible and try to really understand the logic behind it or the macroeconomic stuff that's behind it.
And I walked through that on the guide that I posted here.
Perfect.
I went ahead and I commented that guide into the chat.
So if anybody wants to see it,
it should be one of my latest replies.
Pretty easy to go ahead and find there.
I just have a hand up from Bilo.
Bilo,
you got a question for the team?
Yes,
I do.
Hey,
Gav.
Hey,
everybody.
So I've never done this before,
but I imagine that I probably would have to provide API keys to my brokerage account.
So how does that work?
And how secure is that?
Yeah,
I can take that question here.
So we actually,
there is no providing API keys to your brokerage account.
We trade directly on Composer.
So there is no like actual coding knowledge that you need.
It's purely like go through KYC on Composer itself,
deposit on Composer itself,
and then can invest from there.
Like we automatically trade for you.
I see.
So you guys are the broker.
Okay.
Yeah,
yeah,
we are the broker.
Yes.
All right.
Interesting.
In terms of backtesting,
is there a feature that shows me not so much only where it does work,
but where it doesn't?
So I can go back in and analyze.
okay,
how come it didn't work on this one?
Yeah,
so we do show,
we'll show you the complete results of the backtest and you can set the different like timeframes.
So I think,
I think Garen had talked about this before,
but like basically just starting with the default of go back as long as you possibly can.
So like,
let's say that I have 10 assets here and one of them,
or the youngest one is available starting in whatever,
late 2010.
Like that should be the first backtest that I should try to find to run.
And then it'll be very clear at that point with this strategy.
Like,
okay,
where are the dips?
Where does it do really well?
And then you can look at the basically the simulated like historical allocations of like,
okay,
in this one month period in 2014,
the strategy got cut in half.
Like it tanked what happened there.
Go look at what it was holding in that month.
And then you can start to make adjustments from there,
depending on like what your thesis is and what you're trying to trade.
Awesome.
Last question.
Do you have crypto or is it purely traditional finance?
Yeah,
no crypto.
Yeah.
We're just equities and ETFs.
Crypto is something that we've talked about a decent amount.
It's been kind of a little bit entertaining on,
on our side where anytime Bitcoin was over like 40 K,
we'd get a lot of requests for crypto.
And then whenever it was under 40 K,
we would be silent and we wouldn't be getting any requests.
But I had something I think would definitely be interesting.
It's just not part of the kind of the value offer right now,
but it's something that we'll,
we'll definitely explore in the future.
Thanks for answering my questions.
Yeah.
Great questions there below.
Awesome.
Okay.
Mike now,
so I see he's up here and a few others.
If anybody else does have questions,
we'd love to take them kind of just discussing this world of algo trading and
the possibilities right now.
In addition to that,
you know,
for those that are going in and checking out the website and I got a couple
of DMs from people who were saying they're having trouble finding it.
I know that happens with pin tweets.
So if you do want to check this out,
just DM me the words algo trading and I'll send you the info.
Again,
completely free to try and you can go through,
you can build your first.
And if you think,
Hey,
I've never built an algo.
This can be very difficult.
You can just do it with AI.
You can literally just go right in and you can state,
Hey,
I want an algo that,
you know,
benefits from a rise in the price of oil.
I need a strategy that is built around RSI,
you know,
going to this level for QQQ,
right?
Stuff like that.
You can do it pretty simple and straightforward.
So again,
if you want to try that out,
just,
you can feel free to DM me algo trading and I'll go ahead and get that to
you.
But let me throw a question back at you,
Donovan real quick.
I really like going through how there's some of these prebuilt ones and some of
these like different strategies.
One of the things which is in here is this copy the greats.
Now,
is that necessarily an algo if you're copying Warren Buffett or copying Ray
Daly or something along those lines?
Is that following through a 13 F what's kind of your strategy with those?
Yeah.
So the copy the great section,
that's a preexisting,
basically the evolution of the strategies that we've had available on the
discovery page.
It started with every section you see there other than community.
And so we tried to create a lot of like more simple,
like prebuilt strategies.
So like something with like the Warren Buffett,
like it's,
it's obviously not a like copy trading Berkshire or anything like that.
Like all it is,
is what he's talked about in the past with just like 90% spy,
10% bonds.
And that's it.
And,
and,
but the reason why we have those strategies on this site is just to get
people to like understand like,
okay,
when,
how to understand the logic,
basically,
like you can easily conceptualize something like that and then take it to
be able to apply.
So they're almost like probably like templates or like a starter kit for how to
start to think about building strategies.
And then,
so it's the same thing with the Ray Dalio one.
It basically copies like the thesis that he talked about in principles.
And so those,
yeah,
those aren't necessarily anything more like creative than that.
And then,
so we have all those starter strategies.
We recently,
within the past few months added the community section,
which is strategies built by our user base.
And that's when we added the like out of sample back test date and things like
that,
being able to show you like,
okay,
what have people been doing on this site?
And like,
but yeah,
what have they been building?
What has been successful?
And you're able to sort by the like cumulative returns and things like that.
Like see like,
okay,
this one has been out of sample for the past one year and it's up whatever,
or 50%.
Like I'm interested in this one now because of that.
So it allows you to actually like,
like sort and like wrangle through what the existing strategies are on the,
on the site.
Perfect.
Hey,
if I can see your hand up.
Yeah.
Thanks for inviting me.
I've done some algo trading in the past.
I've used a trade ideas,
which like scans for specific things that you want and then sends,
executes the trades through interactive brokers or like a trader's post where,
it connects through,
let's say trading view.
And I say,
Hey,
look for this,
this,
and this,
and then send and execute those trades.
How does composer work as far as a scanning tool?
Because it sounds like it won't connect to like a charting software or something like that.
Can it scan for specific tickers?
Or do I have to say,
Hey,
execute this strategy on the SPY?
Or what can I say just as an example,
like look for stocks that have an RSI below 30 and XYZ and put in quantitative things.
Yeah.
Good question there.
so the,
the,
the ticker selection for our strategies are basically static right now.
So like what you're referring to is what we call internally,
like building out a dynamic screener.
so that would be something like,
okay,
I'm going to just create these set of conditions.
And then all I want to do is just take the 10 that fit these conditions,
the best and invest in those and like rebalance,
effectively from there.
And so wait,
everything's static for us.
So unfortunately like the,
the screening capabilities,
there are some,
okay,
like workarounds that we have or like proxies for that.
So for example,
like you can invest in,
there's a function that we have that's a sort function.
And so basically what you can do is you can,
take a list of assets and say,
okay,
sort these by their,
whatever you want it to be,
14 day RSI.
and then select the top two of these.
so like the 14 or the two like highest RIs or the two 14,
or the two lowest IRIs,
apologies,
and invest just in those two.
And you can build out that list to be as long as you want it to be.
Another piece that we've added to the sorts is you can actually build in like
sub strategies within,
within the sort,
which has been super interesting.
So for example,
like with,
what Wolf was talking about,
where we have the Warren Buffett and Ray Dalio strategies,
and those are very simple strategies,
but just to like conceptualize this,
you could do something like,
okay,
sort over the,
last 30 days,
cumulative return.
and then take the,
the Warren Buffett strategy and the Ray Dalio strategy,
put them both into the sort list and then say,
select the top one.
So now whichever one is doing better over the last 30 days,
like I'm going to ride the momentum of that strategy,
which again,
sounds simple when you're talking about like a 90,
10 Warren Buffett strategy,
but when you have some of these more complex ones and you can effectively
like in a,
in a meta way,
like momentum trade on the,
on the strategies themselves,
the more complex ones,
like that's where it starts to get really interesting.
And we see our user base doing some,
some really cool stuff on that first stuff on that front.
Okay.
So you can kind of make your own list for it to like pick the top
performing underliers.
cool.
Yeah.
And also I just wanted to reiterate,
what you guys had called overfitting.
That was something I found with algo trading and some folks,
especially from like a programming background that they try to make their
algo,
like have such a high profit factor or high win rate that,
you know,
in the market,
everything comes to balance,
like whatever strategy was working before at a certain point will stop
working.
And so keeping it simple to where,
you know,
maybe your algorithm only has like a 55 or a 60% win rate versus trying to
tweak it to where it gets to like 80,
90%.
It's like that algo is probably about to start,
stop working.
And,
they constantly do need tweaks because past performance is not indicative of
future results.
If that were the case,
like the best trading historians would be the best current traders.
And that's not always that.
So it sounds like you're educating people out the gate,
which I think is pretty cool.
Yeah.
Yeah.
Good points.
I appreciate it.
Perfect.
Yeah.
So one quick question and yeah,
I showed up late,
so apologize if it's already been covered,
but,
your guys' data includes and,
basically helps with survivorship bias.
Have you already planned for that as well?
That's just something I've noticed that some,
some places kind of lack that,
you know,
getting delisted or,
or bought out or,
you know,
upsold security or something like that.
I can take this question unless you guys want to.
you got it.
yeah,
that's one of the first things that I noticed when I found the platform,
almost a year ago.
And I,
the way that we currently avoid this,
at least in the discord community,
I can't speak for everybody,
but a lot of the community developed strategies only use ETFs.
we rarely ever do stock screening.
there are a few strategies out there,
but there may be like less than 10% of the overall community strategies.
so by using the ETFs,
we basically have that dynamic sorting,
kind of built into it.
so we don't have to worry about that.
Perfect.
Yeah.
So just for,
as a,
as a quant myself,
just,
that is something that that's important just for the audience to know,
but you're right.
I find that a lot of algorithms,
you're usually better.
If you're doing algo trading,
you're usually better off in the ETF world.
Anyway,
it just solves a lot of liquidity problems and,
you know,
shock events that can really throw off,
right.
Something an algo does amazing for a long period of time.
And then all of a sudden you're invested in something where the,
the CEO is stealing money or,
or something and it throws that off.
it's just good to know,
but yeah,
ETFs are definitely a good move when you're,
when you're looking at this world.
Perfect.
Hey guys,
we were just going to do a quick 30 minutes on the algo trading today.
We got another space on this tomorrow.
It's going to be 1 30 PM Eastern.
So looking forward to having everybody on for that one too.
I got another space coming up right here.
So Mihir,
let me turn it over to you again.
We've shared with people where they can try this for free.
Just some quick thoughts on algo trading.
We'll double down on it tomorrow.
Did you have any other quick comments here before I roll into my next space?
Yeah,
I think just the last overarching thing I'd say is that you can go from
something very simple,
rebalancing strategies all the way over to the more complex,
technical indicator based strategy.
So I'd just say,
yeah,
like give it a go and,
give out the free trial ago.
And yeah,
if you've got any questions,
like feel free to ping me or done.
All right,
perfect.
Well,
thank you so much to Mihir as well as the crew.
it was always a good time having you up here and I am going to get rolling into my
next space here in just a second.
I see that we have the speakers up here for it,
but big thank you to those on stage.
And I know I saw Austin and some others popping in here too.
And hopefully everybody that was coming in for this will,
be back on tomorrow at one 30 PM Eastern as well.
We'll continue our,
deep dive then into the world of algo trading.
And I think we're even going to try to maybe like build an algo together on
spaces tomorrow.
I think that would be pretty fun,
but hopefully this gave some insight.
So Mihir,
Donovan,
appreciate you both coming on.
going to rotate y'all cause I need those co-host spots and I'll talk with you
guys tomorrow.
Sound good.
Sounds good.
Yeah.
Have a good one.
All right.
Perfect.
Okay.
John Woods,
appreciate you being up here nice and timely.
How's everything?
Good.
Thanks for having me,
Wolf.
appreciate the opportunity to speak to the community and to your followers.
Absolutely.
Absolutely.
And we've got a great amount of interest.
I invited,
several other web three faces to the crew cause they all are fans of y'all and
what you're doing.
And so I want to get right into things here.
I know that we have you for a little bit of time.
So let's start out with perhaps some introductions.
If you can just explain to people,
you know,
for those that aren't familiar,
we're going through a couple of different topics here,
but Algorand,
I mean,
you guys are a name brand in the world of web three and the world of crypto and
things along those lines.
Perhaps you give a brief introduction of yourself,
the company,
and then we'll talk about why it's time to build a bowl.
Sure.
Sounds great.
I'm John Woods.
I'm the CTO at the Algorand foundation,
which stands for chief technology officer.
And so we're really,
what that means is that I,
I'm responsible at the foundation for,
I guess,
tech strategy and tech things,
whether that's running nodes and infrastructure or indeed,
you know,
building our developer tools around Algorand,
that kind of stuff.
my background,
I went to a regular college or university to study computer science.
I worked in software engineering,
for a while and a little bit in banking and FinTech.
and I just developed this interest in,
in cryptography and mathematics,
at a personal level.
And,
and over time I kind of went from someone who was a hobbyist in,
in crypto to finally,
I guess,
landing my,
my first crypto job,
if you want to call it that,
where I worked in consensus on Ethereum,
which was back in like 2016,
2017 when,
when Ethereum was really hot,
worked there.
after that,
I worked,
as the lead architect on Cardano.
So I was responsible for software engineering architecture,
and applied cryptography,
at Card,
on Cardano,
which is a great experience working with Charles and the rest of the team over there.
And then my most recent role,
and the one I guess,
that I found incredibly interesting over the last year is leading out,
yeah,
as I mentioned tech at the Algorand foundation for Algorand.
it's,
it's been a great opportunity.
And so I'm really privileged to work with those people.
Perfect.
Yeah.
I'm excited to have you on here as well.
This is a,
like I said,
name brand in the space.
So let's talk about it,
you know,
time to build a bowl.
What does that mean?
What,
what is the time right now?
Kind of give some context to people as to what we're discussing here.
Sure.
you know,
build a bowl is what we've branded our,
our core global hackathon.
And so build a bowl is Algorand's virtual hack.
and it's for developers,
entrepreneurs,
or anyone who just wants to learn about what it's like to build on Algorand.
I guess it's running for about four weeks.
and teams will,
you know,
you've got,
you've got to,
you jump in as a team and then you conceive a kind of a business concept or an idea,
develop the product,
and then ultimately at the end,
present a final product and pitch to a panel of,
of judges who are selected for their expertise,
either in terms of their business acumen or,
you know,
their technical,
their technical acumen.
what's cool is though,
we have a sponsorship by circle,
Amazon web services or AWS,
warm hole and unity.
So there's a prize,
a prize pot of about 200,000,
us dollars.
And so,
you know,
this is a great opportunity to come,
learn what it's like to build on Algorand,
which is really a decentralized operating system.
And we can maybe go into,
you know,
my kind of thoughts around how these programmable layer ones,
like Ethereum,
Cardano,
Algorand,
et cetera,
are effectively,
you know,
operating systems that run in a decentralized context.
but it's your opportunity to come along,
learn and have the opportunity to win some,
some serious,
cash.
And also you've got to network with some smart and capable individuals,
who are part of the hack and logistics wise.
if you're looking for a team,
you can register today.
and our final team formation session is this Friday,
October 13th.
so you've got to kind of get your skates on,
but we're,
we're very excited about buildable.
And generally the core ethos would build a ball is to ignore the market
dynamics a little bit and focus on what matters,
which is the incredible use cases.
These decentralized technologies enable,
which are really changing the face of finance for people who need it the
most and focus on delivering cool and valuable applications,
on these,
on these blockchains.
Perfect.
So I know a big thing we wanted to touch on,
and I'm going to get a few questions that I wanted to kind of get in here to
set the table and then we'll bring some in from the audience.
We have some great speakers joining us on stage.
one of the things I want to talk about here is fit for purpose,
right?
And so you've talked about in the past,
you know,
the usual fit for purpose.
What does it mean to be fit for purchase in the world of Algorand and these
layer?
Yeah,
sure,
sure.
I mean,
sorry,
excuse me.
this is a phrase I've kind of coined,
but it's really harking back to general software engineering.
I think we all know the great products in our lives,
right?
I think,
you know,
humans,
they spend so much time interacting with,
with,
with,
with,
with products that have been developed by R&D teams for years,
whether it's your phone or your microwave or your dishwasher or your
television or your computer.
These are things that have been honed to near perfection,
right?
To give you a great user experience.
And folks will also know the products in their homes and in their lives that
they hate,
right?
Whether that's a shower that you hate using because it just,
the tap doesn't work very well or whether that's,
you know,
a product in your,
in your,
in your kitchen that doesn't work very well.
And so I like to think of Algorand as a product.
It's a decentralized operating system,
just like Mac OS or Windows or Linux.
It is a platform on which you're going to be building applications that users are
going to use and users are going to depend upon.
And so we got to remember as well that these programmable blockchains,
they are enabling use cases that generally speaking deal with finance and
people need finance to be robust and reliable.
People need it to be there when they,
when they want to use it.
And so when I say Algorand is fit for purpose,
what I mean is Algorand as a platform on which to build a mission critical
application that is finance focused is a killer platform to do.
So it is a blockchain,
which is reliable,
secure and scalable.
And it is a blockchain that when you build a mission critical application that
people have to depend upon,
it's going to perform for them and it's going to be there when they need it.
Now,
the reason it's fit for purpose,
there's a whole bunch of technical reasons and we can maybe dive into some of
them and I can explain why I think it's such a great platform,
but ultimately whether you're building an application for an iPhone or you're
building an application that runs on Ethereum,
your users are only going to enjoy it and rely upon it.
If they can know that when,
when they need to use it,
it's going to be there and it's going to work well.
Being there and working well,
certainly two of the key features that you need to succeed in this area.
So let's take one more kind of thought here.
What's next for Algorand?
You've got protocol updates,
AlgoKit,
there's a bunch of different pieces moving around.
I kind of want to talk that as well as what it's going to take for Algorand to
break more into the,
you know,
the zeitgeist,
I suppose,
kind of talking about the suboptimal dev experience.
There's a lot of pieces moving on here.
So maybe talk about what it's going to take to break through and then what's next.
Yeah,
sure,
sure.
I mean,
like,
you know,
the state of play,
right?
The state of the union,
Algorand's in great shape.
It's got 10,000 transactions a second,
which is not as many as Visa,
but it's enough to service a global audience.
And when you're using those 10K TPS,
if you're engaging with smart contracts,
you don't see the different performance like you see on other chains.
So interacting with smart contracts on Algorand doesn't yield this suboptimal experience.
Of course,
it's got that novel consensus,
pure proof of stake.
So it's green.
It's using about 80 kilowatts of instantaneous energy.
And indeed,
you know,
our kind of like killer,
our killer line is that 3.3 second block time with instant finality.
So there's no rollbacks or reorgs because the consensus built around the AVM ensures that 100% of the network agree on every single block.
So it's in great shape.
So where are we going to take it next?
The answer is we're going to be moving to incentivize consensus.
And this is a huge philosophical change for Algorand,
right?
We're moving from a network that didn't reward consensus or block production to a network that does reward those things.
And this is a philosophical and technical change to the network.
We're also advancing the state of the art in terms of the protocol.
So we're going to be moving to dynamic round times.
We're going to be moving to a different network topology away from a hub and spoke relay and participation node model all the way to a peer-to-peer network.
So data propagation of the blocks is as decentralized as possible.
And this is all going to happen over the next six to nine months.
And on top of that, we're going to be increasing TPS.
But again, I think we're already in a fairly good place.
So after that, what's next?
Well, we're going to be looking at post-quantum because this is another thing that's really important.
And we're seeing many companies around the world who have some of the best engineers and the best cryptographers that money can buy move advanced post-quantum cryptography into their products.
Google did it with Chrome recently.
And so we're going to be building on our existing post-quantum technologies that we've already got in state proofs that secure the history of the chain against quantum attack to a quantum-resistant signature scheme.
And then finally, one of the things that I thought was most important to do and probably the biggest, I guess, strategic impact that I've had since I joined the Algorand Foundation is the delivery of AlgoKit.
When I arrived, the protocol was already in great shape.
So there wasn't a ton of things to do there.
But what wasn't in great shape was the developer experience.
And I've mentioned before about how Algorand is like this decentralized operating system.
So we need to make it really easy for people to build on it.
And so we were using a language called PyTeal, which is effectively an assembly-like language.
We're dropping that and we're moving forward with pure Python so people can express smart contracts on Algorand with university-level or high school-level knowledge of Python.
And on top of that, they're going to be surrounded by a suite of developer tools that are going to make it fun and intuitive to build apps.
And so I think that that's what gets us to the zeitgeist.
We've always had great technology.
What we haven't done great is had a great developer experience and a great marketing presence.
And that's changing.
We now have people talking about this thing.
We're bringing awareness and we're bringing ease of use.
And I think those three things together are going to be a perfect storm for Algorand.
Yeah, I love everything coming together.
And again, you guys seem to be just pioneering it the right way with the right people.
And it's a pleasure listening to you, John, as well on stage here.
So my last topic question that I want to throw in here, and then we're going to go to these hands, is tell us a little bit more about Buildable.
This is your global hackathon and how people can get involved.
Sure.
Yeah, absolutely.
So you can register on our website.
Okay.
But, again, the final date of registration is going to be this Friday, October 13th.
So you need to have your teams ready for them.
And, again, we have an amazing DevRel team, right?
They are a hand-selected team of wonderful people who are super friendly, super knowledgeable, and really helpful.
And so they're going to be there to hold your hand right the way through the hackathon.
So even if you're thinking, huh, you know, I don't have a lot of experience building an Algorand, maybe this is not for me,
you can come and these guys will give you the help that you need.
Like I mentioned, we have a 200,000 USDC prize, so it will be paid out in U.S. dollar stablecoin, across five tracks, right?
So there's five different kind of areas that we'd like you to think about building.
DeFi, consumer, interoperability, impact, and then gaming.
And so these are the kind of five verticals that we'd like people to try to build within.
And like I mentioned, we're sponsored by Circle, Amazon, Warmhole, and Unity.
And so it's going to be four weeks of building.
And then finally, a pitch to an expert panel of judges, which I'm not on, apparently.
So it won't be me.
But we're very excited about Buildable, and we think it focuses the community,
and it focuses the ecosystem on the right thing, which is building killer apps for this killer chain.
Perfect.
Okay, let's take a couple of these questions.
Drew, excited to have you up here.
I know you really wanted to make this one, so go for it.
Yeah, definitely appreciate it, and really appreciate the insight there, John, that you're sharing.
So I guess I kind of have two questions just to start.
So with the hackathon, and definitely I really encourage anyone, if they ever attend any hackathons,
you definitely don't need a lot of experience.
This is where you gain that experience and learn from a lot of people who usually are way smarter than you,
and it's super cool.
So definitely sign up for any hackathons you can.
But is this hackathon more so, you know, you're saying teams.
Is this more so geared towards B2C, B2B?
Like, are you wanting more people to bring businesses to then attract those consumers,
or is this more consumers to get familiar with Algorand and all these partnerships, especially with Circle?
What's, I guess, what more so is the objective of this other than exposure, marketing, you know,
some people participating in a hackathon, like longer-term vision?
And then I'll follow up with another question.
Yeah, sure, sure.
So, I mean, I should give a shout-out, by the way, to Algorand Ventures and to Joanna Moran,
who's my colleague.
She lives in Ireland, where I live also.
And she really is the genius behind Buildable, which is, by the way, seeing really, I think it really got through to the community.
I think the branding on it, the vibe around it is really kind of resonating with people.
So she'd be much better able to speak to this than I, actually.
But let me do my best.
So we're really hoping that, you know, the Buildable hackathon will focus and create consumer-friendly apps
that just really show off the power and scalability of Algorand.
And so that is, I guess, the key thing.
What we're looking to do is, over the scope of four weeks, have folks conceive a business concept,
but accelerate them through it because they'll have behind them the full focus of our DevRel team,
access to folks like myself and Bruno, who's the chief architect or the principal architect at the foundation.
And so they'll have instantaneous access to some of the people who know the chain the best,
who will be able to guide them on that journey.
And at the end of it, what we're looking for, hopefully, I mean, what does success look like for this hackathon?
Yes, it's awareness.
It's getting us more into the zeitgeist.
It's getting people excited.
Yes, it's newbies who come along and, I guess, leave as evangelists.
But ultimately, some of the things we're looking to build, which pay, I guess, which we're hoping to pay the biggest prizes on,
will be things that we'll actually go and use.
So as an example, I think that there's some options around building for wormhole and also building for chain link,
where we're going to encourage folks to try to build interop primitives.
So there's a number of different kind of bits and pieces that we'd like to see built and haven't been built yet,
and we'll be guiding people down those tracks.
But in general, by the way, just to be clear, it's open to everyone,
and I don't want people to feel like you have to be someone who really knows what they're doing or is really comfortable.
We want everyone and anyone who is interested at all levels, from junior all the way to senior, to come along.
Awesome. Appreciate that insight.
And I know you said that one of the things you were talking about was kind of ramping up the marketing perspective.
I'd love to hear more and kind of specifically what you're focusing on there.
I think a lot of what you guys could do obviously could be improved, like in regards to foundations or anything otherwise.
Like I think Hedera and Polygon does a really good job.
Like seeing Algo on this stage is awesome.
And maybe I'm just following the wrong people or the Twitter ex, Algo hates me.
No pun intended.
You know, but it's awesome to see a foundation or representatives, you know, be up here, explain this, talk to people,
because, okay, now I'm more interested in an algorithm.
It's not just another chain.
You know, it's not just, oh, like, you know, you're talking about finance.
Like, oh, maybe just finance deals with Algo.
Sure, sure, sure.
Yeah, totally.
And, you know, here's the thing.
I totally hear you.
And here's the thing.
We believe that Algorand is the Linux of blockchains, right?
It's for everyone and it's for all applications.
It is going to hopefully power the infrastructure of Web3, okay?
It is a very scalable, very capable layer one.
That does not mean, by the way, that all the other layer ones are shit.
They're not.
There's many projects in the space that are very interesting, have super intelligent people working on them,
and will also be very successful.
And so I'd like to see less tribalism generally and more collaboration.
Now, to the marketing piece.
I think, and again, with the greatest of respect to everyone who came before me,
I think potentially really with Algorand, we were like the nerds in the class.
We had some of the smartest people, whatever.
We did a great job at building things.
And I say that as a geek myself, but, like, we did a great job with the tech,
but maybe not such a great job with getting the message out there with getting an inclusive tribe built
or an inclusive kind of cult of Algorand built.
And now, of course, Stacey, who's relatively new herself over the last year and a half or so,
or a little longer, has hired a team of people around her.
And myself, Jess, and others, Jess, who leads out our marketing, who's our CMO.
And so it takes time for kind of those folks who come in to really turn the ship, right?
It's like turning an oil ship, to use that expression.
And so we're going to see much more, you know, grassroots-style marketing.
We're going to be in all conversations.
We're going to be part of the show going forward, right?
So I think you're going to see – and, again, I can't speak for Jess because, of course, she leads the marketing piece.
I don't.
But from what I've seen, from what she's doing, we are finally getting a seat at the table,
and that's going to bring awareness.
And when people realize how great Algorand is, it's going to hopefully have the recognition it always deserved.
Awesome.
Yeah, definitely glad to hear that.
Totally looking forward to hearing more of you.
And one last question.
I'll sneak in super, super simple.
What is the three kind of tracks or objective that Algorand is focused on, right?
So, you know, time to build a bull.
I mean, I know you're focusing on finance.
Finance is super broad.
But is the big focus specifically in the finance sector?
If so, is it more – you know, I guess what are the subsectors within finance that you're focusing on?
And if there are any outside of finance, what are those?
Sure.
Great question.
So here's the thing.
I know a lot of blockchains are out there saying that they're the music chain or the sports chain or whatever.
I've never been a big fan of that personally.
I think if you build a layer one that's fit for purpose, to go back to the original kind of question,
you don't have to pigeonhole yourself into a particular genre or niche.
And so all applications should sing on the platform.
And so to answer your question, I guess, a little bit more generally,
I think that the killer apps for Algorand are disintermediation, okay,
which is, you know, killing the ticket masters of this world, removing the middleman,
provenance and veracity, i.e. the security of the network,
the fact that you can cryptographically trust the transactions,
you can do chain of trust, you can do provenance of your goods,
and you can ensure that anything, any code that's executed on Algorand,
you can be sure of the veracity of that execution.
And then I would say, finally, another key area for blockchains in general,
and indeed for Algorand, is decentralized identity, self-sovereign identity.
And that can be everything from emancipating your gaming licenses for your games on Steam
or your achievements in Counter-Strike, all the way to attestation of documents, right,
and more serious things like signing for mortgages or whatever.
And so that's what I would say.
They're the three killer apps.
Veracity, disintermediation, and decentralized identity.
Great questions there, Drew.
Dave, let's bring you into it.
Yeah, John, like I'm literally, I'm right,
I'm trying to write as fast as you're talking right now,
and I can't even keep up, but this is really awesome that you're here.
I probably have a bazillion questions like Drew does.
But I'll try and keep to this so much that you said,
and there's so much that I want to ask.
But let's kind of start off like what you said in the beginning,
where incentivize consensus, right?
Like running nodes, quantum resistance, like going pure Python.
Let's start off with, you mentioned interoperability first.
How are you guys, are you guys working or doing anything with Chainlink and CCIP?
And what are you guys actually doing there?
Because I know that you said interoperability was one of your biggest things.
How has it worked?
Yeah, sure.
So totally, I'm very excited about interoperability, right?
Because what are these blockchains?
They are, think about it, right?
They are networks of value, and they are networks of relationship.
And so this is like some of the most basic human things, right?
We as humans have networks of value and networks of relationships
with our friends, our parents, et cetera.
And so they're also, as well as that network of value,
they're also liquidity pools, right?
They're effectively like Cardano, Ethereum.
These are different liquidity pools.
And so it's critical if we want to, just like countries do,
we want to have trade agreements between countries, right,
so that we can import the stuff from the countries that we want to import.
So we need to have interoperability between these chains for sure.
With regard to Chainlink, I, and so the team are actively talking to them.
We have Devin, who works at the foundation,
and he is talking to everyone from every exchange
to every major player and venue in the ecosystem.
And so we are right there with them, ready to integrate.
We, I guess, they have their own roadmap, right?
So Chainlink have their own thoughts on what they want to do.
And so we can only influence that so much.
But we have absolutely expressed our intent to be part of this.
And we've asked them, we've even suggested them, for example,
that we can build the on-chain components.
They don't have to learn about Algorand.
They can just hook it up in their back end and it will work.
So, you know, fingers crossed that we'll get there
over the coming months with these guys.
But again, you know, Chainlink is outside of our control
because they have their own strategic plan
as to what they want to build next.
Got it.
Okay, now I'm really curious.
I'm going to jump around a little bit.
The quantum resistance piece, what do you,
how, like, how is that working?
Are you guys building something from scratch, like, on your own?
Like, how is it looking?
And how serious is the quantum, I guess, fear, right?
Let's say for, like, you know, current modern-day blockchain.
Yeah, so, like, I don't think we're going to see
an imminent emergence of a quantum machine.
And for those in the audience who are maybe not as familiar
with this area, you know, the reason why I own my crypto
and you own your crypto and I can't take yours
and you can't take mine is because of this cryptography
that is used, right?
You know a special key that I don't know.
And so the mathematics behind that cryptography
is known as the elliptic curve discrete logarithm problem.
And it's a kind of a, it's a classic hard problem to solve
and that's why it's not easy to guess your private key.
And so what quantum computers do is they come along
and they can kind of, like, smash this problem, right?
They're like, that problem's easy for quantum computers.
And so this is, like, it's theorized.
We know it can work, but the mechanics
and the technology is not there yet, right?
So, you know, sans any kind of, like, major NSA government basement thing
that I don't know about, as far as we're aware,
on the global international market,
there isn't quantum computers that you can just buy and apply, okay?
So right now, the threat is looming.
It's not, like, physically here yet.
But, again, you've got to look, right?
So if you look at what Cloudflare are doing,
you look at what Google are doing,
you look at what NIST are doing,
these agencies and companies are building out post-quantum cryptography
and have been for the last number of years.
And they're starting to add this code to their code bases.
And so Google are not going to clutter up Chrome's code base
with stuff that's not necessary.
And so now is the time to be prepared.
So how do we combat this kind of, like, this quantum boogeyman, right?
Answer, using very sophisticated mathematical techniques,
usually around lattices, which are, you know, mathematical structures
that you can build cryptographic trapdoor systems with
that are like the elliptic curve discrete logarithm problem
but hard for quantum computers too.
And so we are, like, at the races on this one, right?
Because we have people on staff who are literally inventing this shit.
And so, you know, if you look at what we've got in state proofs,
we already have a post-quantum resistance cryptographic signature scheme
as part of state proofs,
that's being implemented on the mainnet right now.
Now, that's not securing accounts on Algorand.
That is securing the history of the chain.
And so that's one part of a three-part story.
We also need to secure accounts on Algorand for spending,
and we also need to secure the consensus algorithm.
So we need to invent, or sorry, not invent, rather,
but apply a post-quantum signature scheme for the accounts,
and we also need a post-quantum VRF for the consensus algorithm.
And so that's what we're going to be looking at next.
And put it this way, this thing is hard, it's very groovy mathematics,
and we are way ahead of the competition on it.
Now, that doesn't mean when we implement, we're open source, right?
So when we implement it, others can follow our lead,
and so they should.
That's what open source is.
But, you know, you should know that some of the smartest people
on this planet are working on this problem,
and it's something that's very important.
So I'm glad we're going to be leading the way on it rather than following.
Amazing. I have one more, and I promise we can get to the other hands.
Just one more, and then if by chance it happens to come back around,
I have like 10 more.
But so for this buildable, right, like give me an example,
and I'll use myself as like the perfect example, right?
Like I'm not a dev, right?
Like I'm not the technical guy, right?
I have the business acumen.
I have the marketing acumen.
I started getting into like the technicals, right?
Like I started, you know, messing around a little bit with some AI stuff
or here and there, but I love the blockchain.
What can I possibly do or how can I possibly like contribute to this
in a way where obviously it'll be meaningful for both,
for me and for you guys?
Sure.
So, you know, we have kind of, like not everyone is going to have,
I guess, an idea for this stuff.
And we want everyone from people who come along and say,
look, we're kind of want to build this,
so we kind of want to try to win the prize money,
all the way down to people who have no idea what they're doing, right,
who are beginners.
And so that's why we've tranched out the kind of options.
And so let's say you want to make a consumer app.
We're happy to sit there with you and kind of ideate around what you can build.
Maybe, for example, a unified or transparent risk-weighted asset
or real-world asset solution.
Maybe something around NFTs.
When it comes to interoperability, we're kind of partnering a wormhole
and we're saying, you know, we'd love to be able to make a widget
for wormhole that makes it easier for people to interrupt
and swap using wormhole when they're using, say, for example,
Folks Finance, which is one of our biggest DeFi venues.
Or even, for example, let's take gaming.
We really want to kind of enhance our Unity SDK.
So we're providing that as a potential kind of avenue
that people could focus on during this hack.
But let's say you have no idea what you're doing.
If you really, really care about this, reach out to me on Twitter.
And this goes for anyone.
I'll sit down with you.
Let's grab 15 minutes together, grab a cup of coffee.
And we can walk through some ideas.
And I'll give you something that you can get your teeth into.
I really want to see this thing succeed.
And the only way to do that is to evangelize it every second of the day.
I am definitely taking you up on that offer.
I promise you that.
Thank you, John.
I really appreciate it.
Great to chat with you, brother.
That was awesome.
Really good back and forth there with Dave and John.
Real quick, for those that haven't checked it out already,
I did pin into the top of the space the link to go to the Buildable Hackathon.
So go ahead and check that out if you haven't just yet.
As you can see, almost 100,000 views on that, several hundred likes.
Obviously, we have the Al Grant account, the Foundation account up here.
If the other account wants to join up, the Al Grant account,
I just dropped you an invite as well.
But yeah, a couple pieces up there to go ahead and check out.
But loving the conversation here.
So just going to keep it rolling.
John, we are working to get Ashley DeCann back up here.
She messaged me.
She's having a little problem with service.
So I'm going to go right over to FurLoco and see if you have a question for John.
Yes.
Thank you again.
So, John, pleasure to meet you.
Actually, one of the questions that I have is less of a technical question,
more around the green drug.
You guys are named the green blockchain, right?
I guess the question, excuse me, is around the sustainability piece of the blockchain.
My background, just for the sake of understanding, is in private equity.
And part of what we do under family office, we actually have different energy assets.
One of them happens to be a refinery that has been transformed to now produce,
you know, what I call hydrogen and cleaner fuels, right?
Under the ESG promises that all investors are following in this space.
So I guess if you can expand a little bit more about, you know,
what the carbon negative means for the blockchain
and how can it be applied to, you know, traditional businesses like refinery
and other oil and gas businesses, that would be very helpful for me to understand.
Sure. Listen, thanks. Absolutely.
Thanks for the question.
So let me be real about it.
So when I'm quoting Algorand's energy use, and by the way, you know,
just to be clear, I am not like the greenest person on planet Earth.
I recycle at home reasonably.
But we can all, I guess, do a bit better, right?
And the other thing is, I want to say,
I don't think we should demonize proof of work necessarily.
I don't think we should, you know, ban Bitcoin because it uses energy.
I mean, we should have people be free to do what they want to do.
But if you look at Algorand, or if you look at blockchain in general,
and you try to identify what is the root cause of energy use in blockchain,
of course, there's computers that are being run, that run this software,
because that's what it is. Blockchain is software that runs the computers.
But it's usually the consensus algorithm that eats up all the energy, right?
And in Bitcoin and other proof of work networks,
it tends to be this computationally intensive process that secures the network, right?
It uses lots of energy because it's really hard to do.
And so Algorand has taken a different view on this,
as, by the way, have some other proof of stake chains.
But Algorand has a particularly novel, pure proof of stake algorithm.
And so what this does is it effectively runs, you know, for those who understand the cryptography,
an asymmetric HBAC function, which is computationally tiny.
So it is a really, really, really small amount of computation.
Your desktop computer at home could run it hundreds of thousands of times a second.
And this is what is done.
So at the point of creating a block, this VRF, or asymmetric HBAC function, is run.
And this means that at any one time, the Algorand global network,
no matter how many transactions per second it's processing,
from zero all the way up to its limit,
is using about 80 kilowatts of energy.
And so that's just a very hard metric.
If you take all the computers out there that are running Algorand
and you take all the juice that's going into those computers,
they're running, that's about 80 kilowatts of instantaneous energy
that's being consumed by those computers.
And to put this in perspective, you know, your kettle at home will be about 3 kilowatts.
So it's about, like, you know, 25 kettles.
Or, indeed, an example I like to use is a Tesla, right?
So if you take a Tesla electric vehicle,
it charges at a regular street charger around kind of 80 kilowatts.
So it's kind of like a charging Tesla.
And so when we say green, that's what we mean.
It's kind of using that level of power,
which is not very much, of course, for a global financial system.
Because I can tell you, I worked in central banking,
and the amount of power and energy that goes into the global fiat systems, of course,
is gargantuan and much bigger than Bitcoin.
So with that said,
I think the other thing to note is that Algorand itself is not, of course,
naturally carbon neutral.
So what we do at the end of the year,
we execute an on-chain trade to offset the carbon using carbon credits.
And so, of course, Algorand, the computers running Algorand do emit carbon, of course.
But ultimately, we buy those carbon credits back with an on-chain transaction
to negate the carbon use.
And then finally, with regard to your question,
which is, you know, how can we use blockchain to try to offset some of the carbon aspects of regular industry,
I think that that's, it's a case-by-case basis,
so I won't get into specifics because I just don't know them off the top of my head.
But, of course, tends to be where you can introduce efficiency or drop the middleman.
As I said earlier on, you know, one of the big use cases of blockchain,
or one of the raison d'etre of blockchain is, you know, disintermediation.
So when you can disintermediate and remove unnecessary steps in a system
where you can introduce trust where there was none before,
you tend to have efficiencies, and those efficiencies, of course,
will translate into less carbon generated.
I hope that makes sense.
Yeah, no, that's very helpful. Thank you.
Hey, John, I'm loving the questions,
and I definitely want to get at least one in here from Ashley,
but I'm being told you also have limited time.
Do you have time for one or two more?
Let me just check the calendar.
What's that? Sorry, dude.
Yeah, yeah, I can do it under 10. Is that cool?
Oh, yeah, yeah, yeah.
Listen, I'm happy to have you up here, so it's exciting,
and we're grateful for you for answering our questions,
and obviously you see the panel is just coming with them.
So let's go right over to Ashley, and we'll respect your time.
We'll wrap up in 10 minutes.
Go for it, Ashley.
Hey, I just, like, you are one of the smartest people
I've probably heard in a space in a long time.
And I just was curious, would you be able to summarize the benefits
of using Algorand for those who aren't so technically savvy?
Sure, sure.
So do you mean, like, blockchain in general or Algorand specifically?
Algorand specifically.
Sure, sure.
So here's the great one.
So I was at a barbecue recently, and I was showing my parents
what it was like to use Algorand, right, for kind of the first time.
I say recently.
It was about six months ago.
So they were sitting, and it's so easy to use Algorand
compared to other chains.
So as an example, you can take either your Android phone
or your Apple iPhone, and you can download our canonical wallet,
which is called Para from the App Store.
It comes down, it's a tiny binary, so it's very, very small, quick download.
It helps you really quickly set up a wallet.
You don't even have to save the seed because it has a feature
where you can retrospectively save that kind of those 24 words,
25 words later on because, of course, people don't,
when they download these things, they don't want to write,
they don't have a pen and paper to write down 24 words secretly.
And you can load it right there using a fiat on-ramp.
So you can, like, charge your Algorand wallet.
You can, like, add Algo to your wallet by paying euro or dollar.
And so this is a great experience.
But I think the best bit about it is that when you're transferring funds
between wallets and Algorand, the transaction, when it's executed,
within three seconds, is instantaneously visible on the other person's wallet
with, like, push notifications and all that rich UX feature.
But also, you can be sure, and this is critical, right?
This is like the secret sauce.
You can be sure that there won't be a rollback.
On most other blockchains, in fact, all blockchains that I'm aware of,
including Solana, by the way, despite Anatoly's rhetoric,
finality is probabilistic until a certain number of blocks has passed.
And so you'll be familiar with this, right?
When you send Bitcoin, you wait for the three confirmations, right?
When you send Ethereum, whatever, I don't know what it,
I can't remember what it is, maybe 80 confirmations or whatever it is.
So you have to wait for some amount of blocks multiplied by the block time.
And so the block time on Bitcoin is like 10 minutes.
And so you wait three blocks to be sure that your transaction is deeper in the blockchain
so you can be sure that there won't be a reorg.
And so for folks who don't realize this, a lot of people say blockchain is immutable, right?
Which means it doesn't change or it doesn't go back and change after it's been set.
But the reality is that most blockchains actually are not immutable.
They are probabilistically immutable, which means that it's possible,
even on Ethereum, even on Cardano, for blocks in the blockchain to pop off and be replaced with others.
And so this happens all the time.
It's called a block reorg or a block height battle.
It happens all the time.
And the way you deal with that, again, going back to fit for purpose,
the way you deal with that at an enterprise level is that you have a transaction orchestration layer
that watches, you've got middleware that watches the blockchain.
And when a certain number of transactions have come in,
sorry, when a certain number of blocks have come into the chain,
they considered the trade final.
Not the case in Algorand.
Once a transaction is in a block on Algorand, it's final.
And so what this means, critically, for the end user,
is that you don't have to worry about your funds coming into the wallet
and then later on they disappear.
You don't have to call your friend back and say,
hey, sorry, that transaction was reorg'd, can you send it again?
You don't have to worry about this stuff if you're a business.
If you're a business and you've sold the product and the person's left,
they've drank the coffee,
you can know that that money is not leaving your account.
And so this reduces user friction.
It also reduces go-to-market costs
because you don't need that middleware anymore.
And it makes the entire system more intuitive.
And so that, for me, will be probably the coolest bit.
Yeah.
Perfect.
Great.
Okay, we're going to get in one question from Dave
and then one question from Drew,
and then that's probably our time.
Dave, go for it.
Drew had his hand up for a minute.
Go to Drew and then come to me.
All right, Drew first.
No, appreciate it.
John, I know, obviously, the Buildable,
you know, sponsored by the Algorand Foundation,
and then it sounds like the prizes were somewhat from Algorand Ventures.
Can you kind of maybe just elaborate, you know,
what pieces fit where within the ventures, the foundation,
what's the purpose?
And, you know, the Buildable sounds like it has prizes,
but what about grants or ongoing, you know,
kind of like KPI metrics for a long-term kind of application
to be built on Algorand and, you know,
have some assistance and funding to be built on that chain?
Totally.
Yeah, great question.
So, yeah, I'll be quick with this one
just to kind of get in as many questions as possible.
So, we used to give grants out.
We found that some of the grants were amazing,
but it was like 5%, 7%, right?
It was like a very small amount of the grants we gave out
came back with really great products,
and a lot of them either failed
or didn't produce products that could be used
or indeed were wasted because nothing was really produced.
And so, we kind of took this philosophical kind of view
that we'll stop doing grants wholesale,
this idea where we just kind of give funds out to people
based on a PowerPoint presentation or, you know, an application.
We just stopped doing that.
And we transitioned to this Algorand Ventures model.
And so, what is that?
It's basically where, it's more like Shark Tank or Dragon's Den, right?
It's like, oh, I've got this idea.
I want to do this thing.
It could potentially make money.
Here's my business plan.
Here's how it'll make some money.
Will you fund me to build on the chain?
Because if you do, I'll build on your chain.
And so, we find that that's yielding much better results
because rather than kind of like, you know, shotgun approach,
spray and pray kind of approach,
we now have a kind of a qualitative approach
to assessing the people who are asking for funding.
We take equity in return,
so we'll own a percentage of the companies that build on us,
usually quite small because we're not like a vulture capitalist.
We're just trying to spend our money a bit more wisely.
And then the great thing is,
if we invest in something that ends up becoming, you know,
the next brilliant product, we'll have a return, right?
And so, that return will absolutely be invested back in the ecosystem.
It will allow us to invest in more companies.
It'll allow us to invest in more projects.
And so, Algorand Ventures is like the circle of life for funds on Algorand.
And I think it's the right approach.
But of course, it's not an area that I lead.
Ryan Terabellini leads that out.
But I think we've struck the right balance where we are not predatory
in terms of the investments we give,
but also we are investing in things that will hopefully bring a return to the ecosystem.
Thank you, Drew.
And last question here from Dave.
Honestly, I'll leave it there.
That was the perfect last one to go on, John.
I just want to say thanks for coming through here
because there's not enough C-level execs that are coming into these spaces
and talking with us just so candidly the way that you did for us
to simply understand what it is that you guys are doing.
And I think that is really going to help speed up this adoption.
I hope you come back next week.
I'm already in your DMs, so hit me back whenever you want to sit for that coffee.
And I'm looking forward to it.
Sounds amazing.
Listen, by the way, just to be completely honest,
I love this opportunity, right?
You do me the favor.
I get to speak to this huge audience and tell people what we're up to.
I like to think that we're being authentic
and we are building something that matters.
I really appreciate the time.
And like I said, anyone who wants to chat, just hit me up, whatever.
We'll get some time together.
Appreciate all the questions.
Appreciate how friendly everyone was.
Thank you very much, Wolf, and thanks to everyone else for the time.
Yeah, thank you so much to you, John.
And I encourage everybody to go ahead and check out everything that John is doing.
If you haven't, take a second real quick.
Mark down this Buildable Hackathon.
There's a bunch of info in it at the top of the space.
Of course, there is $200,000 of prizes as well, so that sure doesn't hurt.
So you can check out that on the Algorand Foundation's pinned tweet.
Big thank you to Ashley and Drew and Dave for Loco and Stacky for coming on for the Q&A.
Awesome questions.
Great back and forth.
I'd just love to see it.
Hopefully, we get to welcome you back again soon, John.
But to everyone else, wishing you a great rest of your Monday morning.
I'll be back on Spaces in a couple of hours, closer to 2 p.m. Eastern.
John, any final words?
No, I'm going to say absolutely, man.
I'll be back.
Thank you very much for the opportunity.
Bye.
Take care, everybody.
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