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WOLF MONDAY SPACES
Recorded: July 3, 2023 Duration: 3:14:03Space Recording
Full Transcription
Good morning, Alex.
Good morning, Gab. How's it going?
Good. What's going on?
Not too much. Just watching this market with Tesla's massive move.
Not surprising after the news, although that was quite the pump.
So just, yeah, just getting the feel for everything.
Got that early close today, so should be interesting.
What's it up right now? Like five and a half?
Oh, let's see. It is up.
It pulled back a little bit, but yeah, it's sitting at 276 and a quarter.
I'm not sure what it is up on the day. Hold on a second.
All right, 253.
Yeah, yeah, you got it. I will say this. It gapped right up pre-market to the upper weekly expected move.
So that is 279.60.
I mean, it's hilarious to see that move.
It's also the top, right?
And again, these are taking off the volatility of the options chain.
So obviously the calculations were spotting the top from back, what was that, from Wednesday, June 21st.
But anyways, you know, I'm pretty bullish on it.
Unless we break like 273, 272, that'll kind of change my outlook on it.
But so far, I mean, it looks phenomenal, you know.
It's a hell of a move, man.
Yeah, insanity move here on Tesla for those that haven't been checking it out after they beat on delivery numbers.
Ashton, what's your game plan for today?
I'm debating on whether or not I'm going to be trading today, if I'm being honest, since the market's only open for three hours.
If I do, it'll be some kind of credit spread because I anticipate volume to be excruciatingly low.
So I don't anticipate the market to be doing a whole lot today, outside of Tesla, of course, since Tesla released their numbers over the weekend.
But that's probably what I'm leaning toward if I do anything at all.
Just do a zero-day SPX credit spread of some kind, maybe even an iron condor today, since I don't anticipate price to be doing a whole lot.
Okay, got it.
Ashton, if you are able to stay on a little bit after the opening, though, I will ask you for some insight on hedge pressure and a couple other pieces because I think Matt's out today.
Yep, that's accurate.
I just talked to him just 10 seconds ago.
So that should be good.
Okay, sounds good.
Hey, Mr. Trendsetter, what do we got on watch?
So just continue to watch Rivian, which is up in sympathy with Tesla.
It broke out, and I'm looking for a rise up to 19-20 area.
One more time, you said Rivian?
Yes, Rivian.
And then also the IWMs, looking for transfer of funds out of the NQ into IWM.
I'll be buying the IWM July 10th, 187 calls this morning.
Okay.
Got it.
Yeah, Rivian popping hard.
IWM.
Hadn't been looking at that yet just this morning.
A little bit to the downsides here.
Looking for a little bit of a reversal there?
Yes.
Okay.
Sounds good.
Appreciate that.
How about you, Minx?
Good morning.
I am kind of with Ashton.
I'm just, right now, I'm watching ES and gold.
It's definitely going to be a low-volume day, so I'm not sure if I'm going to trade, but I am watching areas of, if we get there, on ES44.71 as support.
So, it looks like we're coming down a little bit right now.
So, let's just kind of, I guess, wait and see with it.
And on gold, I'm watching the area of 1936 as a resistance level.
Okay.
Sounds good.
So, gold, you're looking for upside there on gold, yeah?
Yeah, we're going up right now.
So, I'm watching, right now we're at 1931, but I'm watching 1936 for resistance to take a short scale.
So, okay.
Sounds good.
Thanks for being on here, Minx.
Thanks.
Okay.
Evan, are you in a place where you can go through some of the news today?
Or if not, then I will keep rolling around and we'll hit news.
I am, yeah, not the best day for my travel and stuff.
The market does close at 1 p.m., so keep that on watch.
We do have Rivian in.
A lot of delivery numbers for EV companies.
Rivian came in slightly above expectations, 12.6K.
Watcher was expecting 11.3K.
And, obviously, Tesla yesterday came in at 466.1K deliveries for Q2, beat the expectations of 448K.
And Tesla stock up about 5% today, keeping that on watch.
There's a couple stories around Apple and their Vision Pro headset.
They were talking about they wanted to first use one-nanometer chips,
and they were talking about how they wanted to originally sell, sorry, 1 million Visions Pro in the year.
That was the original internal goal, and now apparently they're down at 400K.
And that was an article that came out last night from the Financial Times saying that Apple is reducing their first-year guidance for the Vision Pro headset sales.
So that will be interesting to keep on watch.
We have Treasury Secretary Janet Yellen traveling to Beijing this week to meet with a senior Chinese official.
And, yeah, overall, not the craziest of mornings.
Friday, we got a lot of news stories, and we can talk through some of those a little bit later.
But as far as this morning, it feels like people are taking the start of Q3 lately, starting to take in July 4th tomorrow.
But, yeah, interesting day.
Nothing too crazy.
Okay.
Got it.
All right.
Let's bring in – is it Ethan?
Quantitative Speculation?
Yes.
Yep.
That's me, Ethan.
How's it going, Wolf?
What are you watching?
Thanks for having me.
Good.
Thanks.
Yeah.
Not – definitely not going to get super aggressive or do anything intraday today.
A light day going into a day off.
But I am halfway positioned into a short on the market in NASDAQ and S&P futures.
I'm thinking that we're probably alone here, but I'm thinking July could be weak.
And if we get a big pop in the market, I would probably add to the rest of my position to be fully positioned short.
Simply put, I just think that this was a major – this move was, among other things, jettisoned higher by the explosion in liquidity from following the Silicon Valley Bank failure.
And I think this liquidity cycle is coming to a peak.
I'm not saying there's going to be some major crash, but I think, you know, 5% to 10% over the next month or so is possible.
So, yeah, just watch them for – if there's a big pop higher, I would love to add to my position.
All right.
Do let us know if you end up taking that addition.
Okay.
For sure.
All right.
Perfect.
And we got one more here before market open.
That's Jay.
Jay, what are you watching today in the stock market?
Good morning, everybody.
Hope you can hear me.
Thanks for having me.
I'm mainly watching EVs, I think.
Yeah, Tesla has a very incredible pre-market, but I'm mostly watching NIO.
I've mentioned this previously on The Space as well, that I like that for long positions.
And especially after basically getting back above 8.4, coming back and retesting that, I think we are going to cruise to $14 over the next month or two.
That's kind of my main thesis.
And that's also what I'm going to be looking to play intraday, but probably not within the first hour, to be honest.
Just as a swing, I really like that to $14.
So, it seems like there's a lot of people that are looking for upside here today, and that makes sense, with the SP500 hitting the yearly highs back on Friday's session.
And this morning, when you go and you take a look at SPY, at the moment, it is down about 0.08%, and it seems like everybody's looking for a bit of a reversal off the open.
So, I'm excited to see what type of moves we get.
It'll open up in about a minute or two here at 9.31 a.m., which is in about three minutes.
We should have hedge pressure for you, and that's going to show you exactly where all the institutions are positioned around, so that we know where our line in the sand is today.
We'll give that out for both SPY, QQQ, potentially Tesla, maybe some of the other larger ones.
I do see Ashton.
You just went ahead, and you pinned something up there.
It said, Bofa, using Rocket Scooter AI, is that 4800 level the level that it's pointing very hard to for the end of the second half of this year?
Actually, I'm not sure where they got the 4800 mark from, but my colleague and CEO of Rocket Scooter, a partner of mine in the Rocket Scooter company, he's calling for 5,000 S&P 500 by the end of the year.
Last week, I think he was on some kind of a podcast with the trading camp, and he's calling for a SPY 500 by the end of this year.
The reason why we are calling for that is because the market is becoming more short and more long at the same time, which is creating a very liquid market.
And that is a good thing for traders, and it's a good thing for investors.
But that short position of big money, hedge funds, and your leverage funds, that short position has got to be unwound eventually.
So if and when that does happen, that could create a monster short squeeze, and maybe even a historical short squeeze.
So it's just a matter of – it's not a matter of if, it's really a matter of when and how fast that can happen.
So if it does happen quickly, then that's going to trigger the short squeeze.
Okay, got it.
So we just came into market open right here.
Alex, anything standing out to you off the open?
Actually, I'm watching – so, yeah, with ES – hold on, let me just get back to the hourly here.
I was actually – I want to see if we're going to hold 44.78, possibly down to that 44.74, or like Minx said, 71.
But I would like to see 78 hold here, or 44.80 even.
It seems to be bouncing.
I'm going to end up catching along, because I do have an hourly demand here off of Friday at 11 a.m. Eastern, off of that candle.
So you can just see there's going to be – there should be some support inside of here, definitely going to be some buyers.
If this holds, I'll play it up.
I will say this, 4,500 is where the next weekly supply is on ES.
It's a pretty big zone, as weekly zones tend to be.
It goes all the way up to 4,540.
So I am just cautious, right?
Like, we're inside of a daily zone that I have.
We're approaching that weekly.
We know there's going to be sellers up here, or at least, you know, we're going to see some profit taking.
And it's hard to say with a day like today.
So, yeah, if we can hold – you know, I may wait until 10 o'clock.
You know, that's – I'm also watching the queues.
I mean, I think the queues have a little bit more to go.
And, you know, I think NQ, you know, could – again, if it can get up over, like, that 15,500 mark, I think we could see some fireworks with this.
That may not happen until Wednesday, though.
So, yeah, just keeping patience and kind of watching everything as we go here.
Definitely keep an eye on the EV sector.
I know Rivian was up, and Tesla looks like it held the 275 zone.
So, yeah, it's popping up.
If we can break 280 on Tesla, you're going to see probably more fireworks on that.
I mean, I could see it up to, like, 287, possibly higher.
The second deviation, just to keep that in mind, if we do, for some reason, break above 280, 285 area, is up at 297.40.
So, that's the second deviation of the weekly expected move.
But that's about it, man, for right now.
Thank you, sir.
Ashton, do you want to run through real quick where we opened up here with hedge pressure on spying the queues?
Yeah, today we are opening up in a mean reversion, which means we are essentially tucked between a bull zone and a bear zone.
And Price wants to navigate toward the middle of that zone.
And it just so happens in the middle of the zone overlaps directly with hedge pressure on the SPY today, which is at 442.50.
So, obviously, we opened up above that.
Resilience is positive, which is bullish.
And the doomsday ratio is at 0.91, which is extremely bullish, considering that we have a bullish zone right above us.
So, right now, we're opening up very bullish across the board.
And it looks like the market could have some room to run up to our upper DD band.
For those of you who don't know what I'm talking about here, these are raucous scooter-specific terms.
Hedge pressure is probably one of the most, if not the most, most important level that matters on any given trading day.
So, people draw support and resistance, which are great.
Supply and demand zones, which are great.
But we actually map out the zones that really matter.
And hedge pressure is the exact level where market makers are hedging and are delta neutral for the day.
And whenever we get close to that area or we break above or below it, that's where we generate a lot of volume.
And we all know the one thing that moves this market forever and ever, amen, is volume.
So, if we approach that level today, 442.50, expect some volume there.
And if we break to the downside, we could get a gamma squeeze to the downside.
But if we break above it, which we're already above it, but if we break above it somehow, we could get a gamma squeeze to the upside.
So, that's it for SPY and for QQQ.
Virtually the same thing, but hedge pressure on the QQQ is at 369.50, which is smack dab in the middle of a liquidity pocket.
So, I'm going to start looking around because I know Tesla is catching a lot of attention today.
If I had to take a guess, that's really the only stock that might catch any attention today since it's a short day.
And I'll have those levels pulled up here in a moment.
Sounds good.
Hey, Mr. Trendsetter, your IWM is popping here.
How are you playing this?
Is there a level you're looking for?
So, I bought them July 10s on the opening, and I'll add on any pullback.
So, I'm looking at a shift out of NQ in the next week or so into IWM.
And also, his mention of 4,800 before was the previous high.
So, that's why it's an important level as far as the S&P is concerned.
That's the previous high from about a year and a half ago.
But I'm looking for resistance in S&P at 45.10.
Okay.
And which strike were those on IWM?
The 187.
Right here, 187 calls for July 10.
Okay.
Got it.
So, in the...
All right.
Nice moves off the open.
Holden decently high, up, regardless.
All right.
Let's see.
Minx, do you want to walk through your levels real quick?
So, right now in ES, we are in a trap zone.
Everything between, for me at least, between 4484 and 4488 is considered a trap zone.
And we're at a point of control right now.
That's why it's a little choppy right here.
So, if we can break above the 4488 level and hold, I would be willing to take a long.
If we continue to go below this 4484 level and just hold, once I see a confirmation up to the downside, I would be willing to take a scalp to the downside.
But, right now, it's just choppy.
Sure.
Makes sense.
Give it a little bit of time.
All right.
Ethan, what are you thinking here with this open?
Hey.
Yeah, definitely looking choppy.
Wouldn't be surprised if today just ended up being a range day and everyone trying to catch a trend gets caught off guard.
But, we'll see.
Watching Friday's highs.
Or, actually, I guess it looks like NASDAQ and S&P made new highs in the pre-market.
Okay, NASDAQ made new highs.
S&P didn't.
If they can smash through there, again, I'd love to add to my swing short.
I think Tesla is probably a good tell for where the day might go today.
And, I'm watching the pre-market highs of 280 and pre-market, sort of like this morning's lows of 275.75.
Looks like there were sellers at 280 and buyers at 275.75.
So, let's see.
Yeah, I'm watching stuff like Lucid and Rivian and all these are kind of pushing up with that Tesla news.
Tesla's popping here as well, up 6.7% now at the moment.
We are moving up.
Let's see real quick on Tesla.
Hedge pressure is at, wow, we're way above it.
Hedge pressure is at 2.2.
By the way, really quickly, Rivian also did throw out their delivery numbers this morning as well.
They came in above expectations.
I think it was about like a 10-11% beat, like 12-point-something K, and Wall Street was expecting 11.3 K.
So, those EV names have, each of them have their own specific catalyst in there.
All the Chinese ones gave out their numbers as well for Q2.
So, there are some nuances there.
But Rivian was a beat this morning.
Yeah, I just want to throw out there with Rivian.
The 200-day moving average is up at $21.15, so $21.15.
We're still under that $19 and $20 mark right now.
But, yeah, Rivian's moving nicely, man.
Had a big push.
And I think what you were just saying, you know, that they are, it's not just a sympathy play on Tesla, although that helps, obviously.
But they actually had some numbers of their own.
So, looking for a move up to 21 on that.
Cool.
And if anybody in the audience just wants to be able to see Hedge Pressure for yourself, I have linked it in the top of the space.
I'll put a couple screenshots so you can see throughout the day-to-day what it's pointing towards.
But if you want all the tools for yourself, you can get it all through that link in the top of the space.
And that's a three-month minimum pay trial on that piece.
So, I'd be curious, Ashton, real quick, unless anybody has a trade, in which case, feel free to throw it out right now.
We are showing BLU, and you did mention looking for a bullish move upwards.
But we are right now about $1, maybe a little less than that, above hedge pressure, about $0.65.
I often feel like in these moments, we just retrace right back down to it.
What's pushing you to think that we're going to stay up in the bull zone here?
Well, the reason for that, for my thesis, is that resilience, which is our gap-fill predictor, is at a 15.
So, if that's above zero, if it's positive at all, then it's telling us that we could have a bullish run.
And it's growing stronger, too.
So, I anticipate us hitting the top of the redistribution zone, which is right at $4.43.28.
So, we could tap that, hang out there for a minute, which is seemingly what we're doing right now.
And as long as resilience stays relatively high, which 15 is pretty positive, then we could see some price explosion above that level.
But, if price is coming down, which it currently is right now, then that resilience is going to creep down, too.
But, yeah, you're absolutely right.
The BLU, which is a bull long up, we very, very commonly see price pull back to the hedge pressure, which is at $4.42.50.
So, I wouldn't be surprised either way.
Got it.
Alex, are you trading Tesla at all?
Not yet.
I have, so I had a swing, or have a swing, that is for next week.
And that's doing pretty well, but I am just holding that.
But what I'm watching, so what I'm watching right now on Tesla is pretty, you know, is the $2.80 mark.
I have a zone from $2.79.88 up to $2.82.17.
I, you know, I want to see us, I don't know, I'm hesitant to chase it up here, man.
But what I really want to see is an hourly close over that $2.79.60, which was that expected move, right?
So, as we approach 10 o'clock, that's kind of what I'm aiming for on that, because I know that we could see a rejection here.
But, man, there's definitely some buying pressure coming in.
So, should have bought the dip right off the bat, but I missed it.
I was looking at ES.
I am in the ES long.
Probably should have bought SPX, too.
But, again, on a day like today, I mean, I'm not, you know, shoulda, coulda, woulda, right?
But, yeah, watching Tesla here, man, if we can get over $2.80, which we just did as we speak.
What I like are $2.83s.
That's my next target, $2.83.
And then if we break that, we should see that $2.87.
So, keep that in mind.
Yeah, I'm watching IWM.
We are in the bull zone here as well.
It's a rather large bull zone, and hedge pressure there is $1.87 for the week.
So, a little bit below us at this point.
We seem to be forming more base at $1.88.
Mr. Trendsetter, do you find that today, like days like today, you've been trading for a while,
where we have, you know, one day off, a shorter day before a holiday.
Do you find we get lower volume on days like today?
How do you approach them?
Yeah, you're just trying to set yourself up for the week up until Friday or next week as well.
So, yeah, I mean, the volume is ridiculously light today.
So, I wouldn't expect too much of a pullback on days like today.
Yeah, Ashton?
Yeah, going back to your previous question, Wolf, about whether or not I think the SPY will get down to hedge pressure.
I mean, we might not.
And to Trendsetter's point just a little bit ago, we may not have the volume, the selling pressure to take us down to the hedge pressure.
So, we might, I mean, we might spend the rest of our day in this redistribution zone, which essentially that's our fancy word,
rocket skewer, saying we're going to consolidate between the close of last week and the open of today.
So, that's what creates that gap in the market.
And anytime the market gaps up or gaps down, that gives us this redistribution zone.
So, we might spend some time within that zone today.
We might pop out of it and then pop right back into it kind of thing because, I mean, we're only 15 minutes to the open and volume is virtually gone already.
So, today for me screams a credit spread kind of day.
Let Theta Decay do its thing.
And now we're starting to pop off on the spot here.
Let Theta Decay do its thing because since it is only open for three hours, the market, a zero-day contract, that Theta Decay is going to be very fast.
So, I actually put on a position.
I put on a put credit spread, which is a bullish trade.
It's already up 25%.
And I just put that on not even like 60 seconds ago.
So, that Theta Decay is going to be hitting very quickly today.
So, if you're trading zero-day contracts, be very, very, very careful if you're buying them.
But if you're selling them for a premium, it could be a pretty good day for you.
Yeah, the sell-in side of things.
That's where I was talking about, you know, a day like today potentially coming in.
But, wow, look at that move up.
Look at it here.
When you said that, Gab, like literally as soon as you said that, man, Tesla broke and fucking just pushed up, what, $3 basically?
Two-and-a-half points.
So, yeah, that was a hell of a move.
I'm watching for over $283 on that.
But, yeah, go ahead, man.
No, no, all you.
I was just saying 8% day now.
I'll put it on Tesla.
Yeah, it's huge.
It's crazy.
It's definitely a big move.
But, you know, we've seen this so many times, right, where we have these low-volume days or low-volume, you know, holiday weeks.
We used to see it on Friday a lot until Friday really got the attention it probably deserved.
But, you know, where we would just drift up, right?
You'd see.
And I'm kind of expecting that on SPX.
I definitely agree, though, that if you're into selling options, obviously selling the zero DTs are, I don't want to say it's a given, but it works out really well when you get those premium pushes, especially early in the day.
You know, I tend to buy them a lot more than sell, but I do have a trading buddy that sells credit spreads all the time, right?
So, anyways, watching with Tesla here on the bull side, it looks like we're probably going to push over $83 here.
And I'm looking for, like, $287 maybe higher.
This thing could really scream.
We've seen these low-volume cruises up quite a bit.
I'm not saying Tesla volume's tiny, but it should drag a lot of things up with it, I feel like.
I don't know.
Apple, the one thing I'll say on probably the more realistic side, non-FOMO side, is watch Apple.
If it gets under $192, especially an hourly close under that, it's probably going to come back down near the $190s.
You know, same with Microsoft.
It looked like they were finding support this morning.
Let me just pull Microsoft back up.
Microsoft under $337, $338, I would be concerned with.
So, go ahead.
Yeah, Microsoft looks great.
Are you day trading this, Trendsetter?
All right, it's craters, but yeah.
Oh, I'm sorry.
I'm sorry, man.
Got you guys mixed up.
Are you day trading, Microsoft?
Is that what you're referring to?
No, actually, I just watch it.
Sometimes I'll trade Microsoft.
What I'm mainly using it for is I watch Apple and Microsoft just for a gauge of the mega caps, right?
Just because it's, and the indices, obviously.
But yeah, no, what I'm watching is we actually, last week, we had a close inside of a weekly zone that I've had from $337.50 up to $343.
And that was a pretty big move, right?
We had failed to close inside of it, I think, the week previous, or a couple weeks previous.
So, you know, the fact that we did that, it does make me bullish on Microsoft.
And again, you know, seeing it find support down near $338.00, not quite $338.00, but pretty damn close.
Or no, I think it was $338.00 anyways.
It makes sense, right?
That's kind of right down near that $337.50 level for me.
So, yeah, I am bullish on it.
I'm not in anything right now, just to clarify that.
Yeah, Microsoft looks, at least from my perspective, just for a swing trade, Microsoft looks great in terms of a bullish play.
Especially with, you know, big tech earnings are looming, they're right around the corner.
With the AI craze, that is nowhere near being done.
So, I would not be surprised if we got a run-up on virtually all big tech heading up into earnings.
But Microsoft, just from a structural standpoint, it's above its monthly hedge pressure, which is a very strong pivot.
So, that's very bullish.
And then going back to Tesla, I'm looking at a monthly map.
So, in Rocket Scooter, we have the ability to forecast.
It's not even a forecast.
It's really, we are able to determine exactly the levels on any stock or ETFs, exactly where big institutions are positioned going into the future.
That's the beauty of options, because they tell you their hand.
So, we mapped that out, and I'm looking at Tesla here, and Tesla is extremely bullish, at least for the next three weeks.
I would say that starts to pivot around July 24th, which is three Mondays from now, four Mondays from now.
But until then, Tesla is extremely bullish.
Same thing for Google, same thing for Microsoft, virtually all big tech.
So, we can see another rally heading into earnings later on this month and in August.
I love it, dude.
That's, yeah, I think, I feel like we're still going to see some upside here.
As much as I think economic conditions can come in, you know, maybe after earnings, you know, I don't know, whatever the case, right?
But it seems like we're going to have a nice push-up.
So, I definitely agree with you on Microsoft, as well as some of the others you mentioned, man.
But Microsoft is, it had a really important close the way that I view it last week.
So, good to see, you know.
So, I'm curious if any of the speakers on here today, are any of you bold enough, either one, to be short any of these big tech names?
And number two, are you bold enough to come on here and say, hey, that you are short?
I'm interested to hear your guys' thoughts if anybody is short right now.
I don't know.
Yeah, Minx, you were saying something beforehand, right?
No, I said if we go below a certain level, but we haven't.
We're actually heading up.
So, I'm actually long on NQ right now.
So, I got in at 15.359.
So, I'm just kind of holding right now.
It looks like it's reversing, so I might take my scalp.
But, no, I'm long right now on NQ.
And Minx, you're exclusively a day trader, correct?
Yeah, more like a scalper.
But I trade futures, so for me, I can snipe, you know, in less than a minute or two, a couple of points that, you know, make my day, and I'm good to go.
Yeah, I mean, I tipped my hand, and I'm looking for the market to roll over during this month.
I think so long as we don't get weekly closes above, you know, last week or the highs from a few weeks ago, I'm comfortable maintaining the short position.
I think sentiment, I mean, among other, like, liquidity things that I look at, I think definitely sentiment is stretched.
And, you know, the big thing going around is that today is NASDAQ, you know, best first half in 40 years.
And I just think it's stretched, and again, not like we're going into a major bear market, but it seems like it could be, I feel comfortable holding a short with, you know, maybe 5% stop loss, 5% higher, as long as we don't get a close above there.
So it sounds like you're looking to trade more of like a reversion to the mean kind of play, is that right?
Yeah, yeah. I like, I definitely like NASDAQ best for them.
You know, if we get a close this week below 15K, that's very encouraging.
And if I'm looking at the weekly chart, NASDAQ, I mean, the midline on a Bollinger band is 13,646.
You know, that would just be a standard, you know, mean reversion move.
So, you know, I think there's some room.
And again, I think it would set up the next move higher into the year really nicely.
Market, you know, smashes lower.
All of a sudden, people bring in these new worries.
You know, there's a new wall for the market to climb, new wall of worry to climb.
And, you know, a correction happens just as people are getting a little too excited.
And then, you know, scares them out for the next move higher.
Go ahead.
The beautiful thing about the stock market is that if I'm bullish and you're bearish, we both can be right.
Oh, sure.
Especially with multiple timeframes.
Exactly. Multiple timeframes, different strategies.
So people, that context matters, you know.
And I feel like people generally lose sight of that.
Say, oh, well, he's bearish and he's bullish.
Who's right and who's wrong?
And they both can be right and actually they both can be wrong at the same time too.
Totally.
The strategy is key.
Yeah.
If you're looking to do a reversion to the mean trade, let's say you only have the plan of having a bearish trade on for three or four days.
And then you get in, you get out and it pulls back for a couple of days.
And then I have the thesis where, well, okay, we're bullish for the next two months.
Well, our timeframes are different and that matters.
Yeah.
I mean, you guys bringing up EVs.
It's not something I was usually watching.
I'll keep my eye on Tesla.
But you guys called out Rivian and I'm looking at this daily chart and it built this huge consolidation at the lows from last March to this July.
And it's a really nice stage one breakout.
And, you know, Rivian is a pretty cool company and it's trading at far more reasonable valuation than it was a year ago.
And, you know, maybe I think it would be cool, you know, maybe we see a rotation into some of these EV names again.
And we know Tesla and electrical vehicles, those stocks can go crazy.
So it makes me think, you know, I could even de-risk a little bit my shorts and be like, oh, pick up a few EV names, which I think, you know, look like they could run over the next few weeks.
So even looking for some, you know, holding what I think could be relatively strong, like EV and maybe sell short, things that are a little maybe too hyped at the moment, like AI stocks or just maybe big tech.
But for sure, it's cool to think about it from different strategies, different perspectives.
I appreciate the combo.
I think that's interesting going back and forth on, you know, when this market is going to take more of a breather, but it doesn't seem to be happening today at the moment.
Although I will say, you know, for as interesting as it is that Tesla is up 7% and all this and IWM's up, so I still read as well, you know, very, very, very slightly.
But it is a little bit red, which is surprising.
And I'm curious, you know, what is weighing it down here today?
And I suppose I'd have to go look at Finviz probably to get an idea.
Yeah, Ashton?
So just a sidebar for your guys' viewing pleasure, I suppose, is keep an eye on the following stocks.
Number one is Datadog.
If anybody's ever traded Datadog knows how quickly this stock can move.
I mean, for crying out loud, it has a 2.57 beta, which means it moves at 2.5 times the rate of the market.
So it's a very quick mover.
And it's getting a nice little run this morning, which, I mean, this stock, what it tends to do is it has a pump in the morning and it fizzles out for the rest of the day.
But the reason why I bring this up is because monthly hedge pressure for Datadog is at $100.
And we are pushing $100 as we speak, $99.35 is where the price is at.
And if it breaks above $100, you can see a nice little gamma squeeze in Datadog today.
So Google is another one.
Google, matter of fact, one of the other tools that I use outside of Rocket Scooter is to squeeze just to gauge on how the strength of a move could be.
And Google is right now forming a squeeze and it's above its monthly hedge pressure.
So it's already bullish.
So keep an eye on those two as well as Microsoft, which we just spoke about a little bit ago.
In another life, I was a momentum breakout trader.
And that Datadog one looks really nice.
Above $100, it definitely looks like it could get going.
Good call out.
Yeah, at this point, I think the only conversation that matters today right now is volume.
Are any stocks outside of Tesla going to bring in any kind of volume to sustain any kind of move?
And what I would like to see from a bullish standpoint is I would like to see price just drift up for a little bit today and then not sell off.
Because somebody brought it up a little bit ago on Friday.
That was a pretty gnarly sell off toward the close on Friday, which that can be interpreted a lot of different ways.
But I'd just like to see price drift up and stay there for the close of the day.
Yeah, that makes sense.
I'm watching, seeing what people are looking for right now.
Is that a big Tesla pullback?
Microsoft pullback a lot.
Funny enough, Spy did just go green.
Looks like what's holding us back mainly is health care.
Lilly, J&J, Merck.
A lot of bio stuff, a lot of medical devices.
Those seem to be the most red area.
Insurance brokers are also very red today.
Not totally sure what's going on there.
But yeah, super green.
Rates, maybe rates related?
Yeah, could be.
Definitely.
But super green seems to be just that Tesla area.
And then semiconductors, real green on semis.
Again today in banks.
And oil and gas is not looking too bad.
About half a percent to a percent across the board.
Decently mixed.
And I suppose that's how you get a flat S&P 500.
Yeah, Alex.
Yeah, I want to say we're coming up on this hourly close.
The 10 a.m. close or 9 a.m. candle close.
What I want to see with Tesla, as long as we keep over this 280, I am going to grab some
285 calls on any slight pullback.
But I do want to see this hourly close first.
The other one that I'm in right now as a swing, basically been holding it for since mid last week,
I believe, is coin, right?
So coin had a push up.
I do have a top of the zone at 77.70.
You know, we are kind of holding inside of that zone.
That goes down to 75 bucks.
You know, as long.
But it looks nice.
We do have like I do have a daily supply up here.
So I do expect some selling.
But again, if we can break over, you know, if we can get outside above the zone, basically
over 78.
Again, we should.
I'm hoping for a push up to like 83, possibly 82 and change somewhere up in there.
So that's another one to keep an eye on.
It's had a big move off the open, though.
So again, you know, maybe not worth chasing until you actually see a little bit of a little
bit of basing.
Right.
But yeah, so we're coming up on that hourly close, man, with Tesla.
I'm looking at the 285s because it looks like we're going to we're going to close the
hour over that 280 mark.
So that's what I'm doing with that.
Very nice.
Very nice.
Yeah.
Mr. Trendsetter, you got something?
Yeah.
So I think in sympathy with that, since Bitcoin is making a major move here, I agree with
them in coin.
I think that there's major resistance up at 85.
So if it does get above that 7790 area, I'm looking for a move relatively short in the
next week or so up to 85.
The other sympathy plays would be Mara, M-A-R-A and Riot on those two as well.
I really like Bitcoin on any kind of pullback.
Oh, yeah.
Go for it.
No, go ahead.
Well, I was just gonna say I hadn't looked at Mara yet today.
And I know that that was having a pretty big week last week.
It was up about 15%.
Looks like it's up another 6% today.
So yeah, big pop continuing.
And I assume that can also be found just in GBTC was another one that I was watching.
And that's up another 2.6% as well today.
By the way, Wolf, there was a little bit of some macro data.
ISM manufacturing for May came in at 46.
Wall Street was expecting 47.2.
Price is paid.
It was 41.8.
Wall Street was expecting 44.
Employment was 48.1.
Previous was 51.4.
And this is US ISM manufacturing from May.
So little macro points there.
I don't know if the mark's moving off of that, but it came out within the last minute.
US construction spending for May came in at plus 0.9% month over month, above expectations
at plus 0.5%.
So homebuilders probably, I guess that kind of makes sense for the move we've been having.
But yeah, some macro data just out.
I don't know if it's moving markets.
Okay.
Appreciate the data.
There was also, I guess, another headline, EU antitrust regulators.
This is about 15 minutes old.
But EU antitrust regulators are likely to open investigation into Microsoft over its
Teams app.
So keep that one on watch.
I imagine you're going to hear a headline about that soon.
That would be a Bloomberg.
Okay.
Interesting.
Yeah, Jay.
Just to add to the previous speakers for saying about Coinbase.
I've been on Coinbase also for a while.
And one thing that I've been noticing on the weekly timeframe, just maybe something to
look at, multiple different things.
So in June last month, we had the MACD trying to bear cross on the weekly timeframe, but that
got repelled.
And now the MACD is back above the signal line.
But the same thing happened with the DMI direction movement, where the bullish momentum was trying
to cross below the bearish threshold, but also got repelled.
So when I see that on a weekly timeframe, that you're getting this repelled of the debt
crosses on the MACD and on the DMI, that to me is bullish.
Just looking at Coinbase from a volume perspective, we've had by far the most volume in 2022.
We spent some time trading lower, but also on lower volume.
That to me is kind of indicative that that was just a shakeout, a range low deviation.
And ultimately, I think that Coinbase has a very good chance that we're just in a reaccumulation
range and we have a lot of upside.
I have like longer term targets all the way back to $200.
Also bullish divergence on the weekly RSI.
So to me, everything on Coinbase, just from a technical perspective, RSI, MACD, DMI volume,
all of it is kind of leaning bullish to me.
I'm not saying that I would buy here again at 78 after having bought the previous weeks.
But yeah, this is definitely one to keep on the radar.
I think once that gets back above $100 psychological threshold, you really might see some big movements
also while Coinbase is being appointed as this custodian for the potential BlackRock Bitcoin
ETF that could drive just a massive ton of eyes and volume and revenue.
So I'm bullish coin for those reasons.
Thank you, Jay.
All right, Ashton, come back around to you.
All right, so as we talk a little bit more about Bitcoin here, I look at the blockchain
stocks like Riot and Mara.
I look at those as almost like a leveraged form of trade on Bitcoin itself.
So we all know that these move virtually in lockstep with Bitcoin.
Whether or not you like the fundamentals of the companies themselves, let's be honest, they're
not the greatest in terms of, you know, whenever they report for earnings and their guidance,
it's all contingent on Bitcoin.
So if Bitcoin goes up, these move up.
So really, I mean, at the end of the day, the fundamentals of the company don't really mean
a whole lot in my mind.
But I'm more of a bias of a trader rather than an investor in these particular stocks.
But I look at them as, you know, I like to I like to just own shares in those outright
and then sell covered calls, cash secured puts against those positions, because whenever
they get going, which Riot, I haven't looked at Mara, but I assume it's going to.
But Riot is going right now.
And whenever these stocks get really heated up, they can throw off some serious premium,
which, you know, if what I like to do is if the stock is overextended and we're well
away from its monthly hedge pressure, which we currently are, I like to sell covered calls
against that, bringing some cash flow, bringing some income while I'm holding on to the shares
and the plus, you know, just holding the shares themselves in my mind is holding a leverage
position on Bitcoin.
Now, I know you can trade Bitcoin directly in a leverage position, but I personally don't
feel comfortable doing that.
I know a lot of people do it, but I have no interest in doing that.
I'd rather just own the shares.
Yep, makes sense.
OK, we got about 25 more minutes before our friends from King Cap join in with us one more
time.
If you haven't already checked out the tool, we've got the Rocket Scooter tool pinned to
the top of the space.
I love trading with it.
I always have it open during market hours.
It's how I make all my predictions to on Predictagram.
It's all off Rocket Scooter pretty much.
So definitely if you are looking for a reliable trading tool, one that you can really center
strategy around, go check it out in the top of the space.
And of course, it's overlaid and built on top of TradingView.
So if you've used any charting platforms before, it'll be pretty straightforward, simple
to understand.
You'll just get these lines put right on your chart, which makes things nice and easy when
it comes to watching.
And as you can see today, we are firmly in this bull zone and we've really stayed above
hedge pressure today.
So it hasn't been a big cause for concern like sometimes it typically can get.
Well, we often do pull back around and just stutter around it.
But right now we are in the green on SPY.
And I also see several other names like Opera.
I don't know if y'all are watching this one.
New 52 week highs or all time highs.
Yeah.
New all time highs here, I believe on OPRA.
It's one we've been watching for a while.
It's had one of the most insane runs you're going to see of the year since October.
It's up almost 500 percent now sitting at 22 bucks per share.
So Opera going absolutely crazy.
I mean, just in the last week or so, this thing went up like 30 percent in the last three
days.
Yeah, crazy.
So that one's been absolutely nuts that I've been on watch with.
And then Mara, that was pointed out a little bit before, up several percent.
Tesla up 7 percent still.
SOUN, a little bit of a pullback today.
Maybe some of the AINs pulling back.
And then travel's also been a big theme.
CCL's up a little bit today.
But keep an eye on some of those names in general.
And then Coinbase.
Who saw Coinbase going back to 80?
Coinbase now at 78.75.
Up 70 percent in a month since they got that.
Was it the Wells notice that they got about a month ago?
Maybe that was two months ago.
But that's quite the comeback there for Coinbase.
Let's see if it runs into resistance again at 85 like it has two times in the past.
Yeah, Alex.
Yeah, I just wanted to say.
So I got into Tesla.
My average is for the 285s for this Friday.
My average is 525 here.
I do want to see it find support as it retests this 280 level.
I started getting in a little bit ahead of time.
But right now, this is where I expected to bounce between 279 and 280, even 279.50.
But anyway, so let's see how that works.
I just wanted to throw that out there.
Right now, my average is 525.
That's the asks that I see right now.
So sitting at breakeven, let's see if we can make some money.
Do you feel like we might have run into Hive Day on some of these names?
So it's possible.
So I mean, look, my fallback, this is a lotto trade, right, in the sense of my thesis,
just that we're going to see a continued push higher.
With that said, I do have daily supply between that 283 and 287 on Tesla.
I'll be surprised.
My thought right now is that we're going to close up inside of that zone.
That's why I see us pushing up to 287.
You know, my target, I'm buying the 285s.
I'll be taking profits as it approaches 287.
But I think it'll probably clear into that zone.
So seeing the pullback right now off of that is not surprising.
The fact that we got an hourly close over that weekly expected move, which, of course,
we literally hit in pre-market, you know, is reassuring, I guess you could say.
But yeah, there's always a level of uncertainty.
We could see today's highs.
I don't know.
It's hard.
We're still pretty early.
Like, if it gets to, you know, 11, 1130, and we're still stuck in this range, that's
where I've, at least from past experience, you see a lot of things just die out with a
1 p.m. close.
I mean, it's definitely an early close.
So, but yeah, it's possible, Gav.
You know, I don't know.
You know, we never truly know.
But again, it's Friday's expiration.
I'm happy to hold on to it.
I don't want to say lotto without defining what it means.
It just means that my position size, you know, from the initial get-go is smaller than usual.
Right?
So, you know, instead of grabbing, you know, if someone grabs, say, five of these contracts,
you know, maybe only grab two or three this time, you know?
You know, use that ratio.
Yep.
I think that makes sense.
Yeah, I think.
Yeah, that, I'm just going to say, it looks like a nice setup on Tesla.
That retest of 280, breakout level, moved nicely off of there.
But just a separate note, I know lots of people like trading these
zero-DTE options.
And something I just thought about recently was if you like trading them,
it can be helpful to just wait until, like, the last hour of the day if you want to trade
those options and let all the theta get burned out of them.
And you can buy them real cheap.
And, of course, them being zero-day to expiration, and if you buy them out of the money,
the odds of them moving to those strikes are pretty low.
But you can get some pretty crazy returns out of them.
Just a tip I thought I would share.
I had, you can try to pick a direction, or you can even buy, like, a straddle, right?
Yeah, straddle, not a strangle.
And, you know, it can be a fun way to place some volatility at the end of the day.
Just a little tip.
JP Morgan raised Tesla price target to 120 from 115.
There was a couple others.
Goldman raised theirs from 248 to 275, maintaining neutral.
Doincha to 270 from 260, maintaining buy.
JP Morgan, you just read that one out.
We have Truist.
I know that's near and dear to your heart.
We got up to 240 from 154, maintaining their hold rating.
It's mostly the ones I'm seeing.
We got Citigroup, actually.
They raised to 215.
Reiterated, it's 215 in neutral, so they didn't change that one.
That doesn't matter.
Wedbush, reiterated, didn't change anything.
So a couple price target, pretty much only price target increases.
A lot of people, no one really upgrading of the stock.
Just kind of maintaining their hold, buy, sell, whatever they had, and just moving the price target up.
That's what I'm seeing this morning for the Tesla price target changes.
Okay.
Yeah, RIP all those that didn't come into work today for the trading market, because it is a pretty nuts day out here.
Let's see.
What did IWM end up doing?
Just sitting.
Anything else looking like a good setup to you, Mr. Transpider, outside IWM and the one other you were talking about?
No, not really.
I mean, you know, again, I think that the Nasdaqs run a little bit too far, but I'm not getting in front of that yet.
So I will buy Q puts probably Wednesday or Thursday, but not today.
Okay, got it.
Rivian's building a little setup here that, if you're interested in a day trade on it, it's building out a bull flag between 1880 and 1920.
Maybe a breakout above 1920, you get another push higher, or maybe it flushes below 1880 and then reverses back into this range.
I think that could be a decent place to pick it up, but building a nice consolidation to watch here.
So earlier on this space, I mentioned that I took some put credit spreads on the SPX.
Zero-day contracts, and, you know, these zero-day contracts, the theta decay is so fast on these.
Usually, the model is, you know, within the first hour and a half, the contracts usually undergo about 33% of theta decay.
So the contracts decay about one-third in the first one-third of the day.
And then two-thirds through, maybe way through lunchtime, and then the last hour or so, it really, really kicks into gear, that theta burn.
So today, it's actually truncated down even further because we have a half of a day.
And that was definitely the case.
So I entered a position, sold some credit, put credit spreads, which is a bullish trade.
We got that nice pop in the SPY.
I only held this position for 20 minutes, got out at 77% of max profit.
So other than my swing trades that I currently have on place, I'm pretty much done for the day.
So this is definitely a day where I would imagine a lot of people are going to be over-trading,
trying to get a quick extra buck before the holiday.
But outside of really the first half hour of the market that we've already gone through on this space,
the opportunities are going to be very, very sparse.
So just be careful.
Okay, sounds good.
Hey, Ashton, while we have a second right here, do you want to walk through for just a minute or two
what's included inside of that three-month trial that we have up top with Rocket Scooter?
Absolutely.
So there's a lot that we currently have, and there's even more that's coming down the pike over the next couple of weeks.
So first, let me preface by saying this.
A lot of people think that Rocket Scooter is one of those platforms where you can just have AI make your trades for you.
That is not what we do, not even close.
What we do, it's AI-inspired, where we have algorithms on the back end that calculate our levels and our strategies in our platform,
i.e. our hedge pressures, our half gaps, our bull zones, bear zones, stuff like that, resilience.
So we have AI calculating all those on the back end, but our platform is not one of those platforms that trade for you.
Actually, I think a lot of people are really turned off by those kinds of platforms.
So what you get with the extended trial, you get the platform, you get full access to the entire platform.
As a matter of fact, for those of you who trade futures, your ears might perk up a little bit
because we're actually going to be launching live trading futures.
You can trade directly on the Rocket Scooter platform within the next week or two weeks.
So that'll be coming, and then eventually we'll be able to do options trading on the platform directly too, link to any broker, hundreds of brokers.
You can link it to Rocket Scooter and trade directly on the platform.
But you'll get access to all that.
Furthermore, we have a full boot camp.
It's about a seven-week boot camp because our platform, as we think, is the best platform out there to learn really how to trade the market.
And it takes time to learn.
So we have a boot camp from point A all the way to point Z to walk you through the platform, different strategies that you can trade.
Matt, my partner, he exclusively trades futures.
I don't trade futures.
I trade options.
So we have pathways depending on what your flavor is.
If you want to day trade, we have something for you.
If you want to swing trade, we have something for you.
If you want to do futures or options or even stock, we have something for you.
So you get all those boot camp lessons.
We also, the past couple of weeks, we've developed these cheat sheets.
And these are absolutely game-changing, and they're so cool.
So today, you guys may have mentioned or you may have heard us mention, you know, SPY has a BLU, which is a bull long up.
Okay?
That's a liquidity map that we have in platform that tells us how the market is structured for the day.
But we have these cheat sheets that tell us, okay, well, if we have this kind of setup today, here are different ways that we can trade it based on your flavor, futures or scalping or options or swing.
You know, whatever it is, we have something for you.
We have these cheat sheets that give you options on how to trade it.
So you get all those.
And also, you have all my lessons on specifically geared toward options trading, credit spreads, cover calls, debit spreads, iron condors.
You have access to all that stuff, too.
So with the three-month trial, you get access to all that.
Right now, everything is housed in our Discord, which I know Discord gives a lot of people a bad taste in their mouth.
But we're looking to move away from that and have everything in-house on our website so that way you can log into your dashboard as a member and you have everything, all your lessons, all your bootcamps readily available to you.
So a lot of cool things coming down the pike and we're very, very proud and excited of what we've built.
I love it.
Matt, I see you popped in.
Hey, guys.
Happy Fourth of July holiday week.
Glad to be here.
I'm actually just out of town.
We stepped away for a little bit for a little vacation, but I got up, got some coffee, and I'm just kind of coming, chiming in.
Didn't really take a look at the market today, but Ashton saying it's a BLU sounds like it's a good day already.
Definitely.
We appreciate you hopping in.
Yeah, I love it, man.
I love hearing what Ashton had to say.
And honestly, our pipeline is the most exciting thing.
I mean, we've been launched for a year, and even I heard him talking about the AI features.
So when it comes down to what's coming out year two, AI features that are going to, as we talk about right now, we're releasing live trading, futures first, stocks second, options third.
And imagine having your brokerage account connected, and you could set rules for yourself.
And the platform, you can do automated AI-based journaling where the platform will know the history of what you've done.
So when you're making repeat mistakes against your own rules, the platform could actually self-coach you against your own mistakes that you do make.
When you go to these features, we're going to add down the road.
When we say we're going to change the game, we're going to change the game.
And just stay tuned, because after live trading, we're immediately going to the journaling, the backtesting, all the different parts of what we actually set out to do with the platform.
So just wait.
It's going to be really exciting.
Yeah, I'm super excited.
If, you know, you're saying there's even better features coming, because I love the features that are even already in here.
So shout out that.
And if everybody wants to go up to the top of the space again, there's only one link pinned in the space.
If you're on desktop and you want to check this out, just go to my profile and click on my link in my bio.
And the third link says trade-off hedge pressure.
And that's the one that you're going to want to look for if you're on desktop, just to make it easy to find.
All right.
Yeah, Ashton?
You know, one thing that we see all the time, virtually every day, and Wolf, you can be our, you can vouch for us on this.
So whenever we're holding Twitter spaces or we're on an Instagram Live or whatever, and the market is live, and we say things like, hey, hedge pressure is at this level.
And we have a lot of people say, okay, well, let's see how accurate Rocket Scooter really is.
Okay, well, they're saying hedge pressure is at this level.
I want to see what price does whenever we get to it.
And time and time and time again, they're just like, oh, my gosh.
Price bounced right off of that level almost to the penny.
We see that all the time, and that's for a reason.
You know, our levels, it's not just levels that we just pull out of thin air.
No, they're levels that are very, very relevant to the market on any given day.
And people sit there and wonder, like, why did the market do this at this level?
Well, we have the recipe for that, and we can tell you right there on the platform.
Pretty cool.
Fantastic.
Okay.
By the way, we're still holding just slightly green here, I believe, on, ooh, no, we just went down too flat here on Spy.
So it's having a little bit of a tough time.
Coin's still holding up 10%.
Opera's still up 10%.
Mara's still up several percent.
So a lot of stuff's still bumping here.
Open, this one's been interesting.
I don't know.
I guess this is part of the housing stuff.
Maybe because Zillow started running as well.
If anyone's been looking at these, there's really been a comeback in some of these home selling platforms.
Evan, I was curious if you looked at this at all.
I don't know if you remember with Keith Rabois, or Revoice, where Open got beaten down all the way to 92 cents.
And then it's up 378% since.
I mean, that's been about six months.
And it really has come back.
Is this an area of the market that you've looked at at all, Evan, with Open or Zillow or some of these others?
Not that specific part of it.
When I do kind of focus on the home builders, I kind of give it away.
I'm looking at more of the home builders recently.
They've been on a similar run.
You know, Lenar, Toll Brothers, et cetera, et cetera.
So there are a lot of names like that.
You know, that construction spending number that I read out here was still hot and above expectations.
And, you know, I'm not necessarily a real estate guy.
Maybe we can end up bringing some of them on.
But I know there's been some talks about, you know, what's cheaper right now, buying a house in the secondary market or kind of buying it from a new home builder.
And we're in an interesting dynamic right now, given where interest rates are and how everything is going.
So, you know, I'm not the expert in this area.
I do watch it.
I know the Open Door CEO, he likes to come out and talk a lot.
And I think there was a short report that something happened and he came out and basically said, you guys all suck or something like that.
But, you know, it's always impressive.
Rocket Scooter, Matt, are you going to say something on that?
No worries.
But, yeah, it's impressive when a stock can be up like 100, 200, 300 percent over the last couple of months.
And then you look at the year chart and it's still down.
So good for them.
We'll see if they can get back to IPO price.
Ten dollars.
I guess this was a SPAC open door I'm looking at.
And, yeah, so a long way of saying not necessarily something that I focus on out of what someone else does.
Mr. Trendsetter, is that something that you've looked at at all, the home builders or some of these other home selling names?
Yeah, I think that that's really what's been driving some of the market push here is the breadth of the market starting to expand a little bit.
So not only the home builders are rallying up in almost a 52-week highs, but you're starting to see the transports recently in the last week or so with Carnival Cruise Line, Delta Airlines having upgrades, $70 price target at Morgan Stanley.
So that's a good sign.
We want to continue to see breadth in the market to expand.
And if we don't start to see that, then we're going to see a little bit of a stall.
So I am looking for a pullback in the NQ for the second half of the year and the breadth in the market to broaden out a little bit.
But we'll see.
Makes sense.
All right.
I'm kind of looking through just seeing if we got any other news pieces, stories, any other top stocks on watch for this morning.
I still do want to see what some of these oil names end up doing, especially with Buffett coming in and buying more.
And then with travel, I've really got these airlines towards the top of my watch list.
Not sure if other people have been looking at them, but stuff like DAL mentioned this, Evan, when we were doing our video.
Evan, do you actually remember I was talking on our video like very emphatically about, oh, we're coming into, you know, June, July.
This is where people start flying and some of that stuff.
Come on, give me some credit.
Yeah, no, that was pretty interesting.
That was a good call out.
One quick thing on that Buffett thing you said, 57, 58 is that level in Occidental where pretty much every single time Buffett has gone in and bought.
So if I'm looking at Occidental, $57 over the next couple of days, 58, my assumption until that gets proven wrong is that Buffett will have bought.
You know, so we'll see.
When you see Occidental get down, I think we know who the backstop is.
Yeah, that was a good call out on Delta and the travel names.
It'll be interesting to watch how they continue.
I did see a headline from the last couple of weeks, Royal Caribbean or Carnival or Norwegian, one of those ones, that they are currently at over 100% bookings.
So, you know, how does that work?
Are we going to just maybe we need cancellations or something like that or are we going to go the airline overbooking route?
Yeah.
That's why they have extra chairs on the beach decks to sleep on.
Yeah.
Sleep in the stars for only X amount of dollars a night.
I'm a fan of groups.
Standing room only.
Standing room only.
Cycling beds.
You know, you sell one room.
You get an eight-hour shift to sleep and then it's someone else's room.
I don't know.
I don't know.
Over 100% capacity is never something that I get like, oh, yeah, that's what I want to see.
But I think what that does kind of lead me to is we're at 100% capacity.
That means to make more money, they need to increase prices or figure out some other stuff.
So what's the next, like, hire maybe is the question I'd be asking here.
But the travel is hot.
Everyone wants to get out after the last couple of years.
And I do expect it to continue.
But watch out for the 100% occupancy that they are at.
Sounds good.
Yeah, Delta Airlines is going absolutely crazy.
Shout out to anyone that watches our YouTube channel.
That's definitely one that we leaned into.
And you could see how nicely it broke out through the last four resistance points that it had in the early portion of 2022, late 2021.
Mr. Trendsetter, what do you think about travel here?
I mean, like I said, I think that the broadening base of it, 52,000 flights over the weekend.
I mean, pent-up demand is still there.
Everyone tries to say blame it on COVID still, but that's BS.
The economy is not as bad as people think.
You know, recession kind of peaked in May of 2022.
So I like the travel names.
I'm not too crazy about some of the cruise ships.
The pair trade I'd like to do probably would be the Bi Delta and Short Carnival Cruise.
Interesting.
Question.
Mr. Trade, what do you think of the, Mr. Trendsetter?
Sorry.
What do you think of the, let's say, a short in airline and long a Boeing or an Airbus?
What do you think of that trade play or pair play?
I mean, Boeing's run a lot.
I'd rather, I'd rather be involved in not so much of a political animal like Boeing is.
I'd rather just express it in Delta Airlines or American Airlines rather than stay into Boeing.
Mander, I see you in the audience.
If you want to pop up on stage, monitor, feel free to hop up as well.
Definitely been a fun morning.
I think, by the way, in about two minutes we'll be welcoming in a few more experienced traders coming in from King Cap.
So keep your eyes out for that.
And, again, make sure that you are first following the Rocket Scooter account that is up here so you can see all the posts that they make whenever they're checking out hedge pressure or something that's standing out within it.
And then, of course, I mean, make sure that you are hopping in and checking out the Rocket Scooter through that link above.
I personally would not trade without it.
Matt, you got a comment on that?
Yeah, just wanted to make some quick commentary.
So, you know, if everybody remembers last October when the market was crashing out and Rocket Scooter has a feature called Monthly Maps, and Ashton, I know, mentions it as well.
It's one of our best features we have.
That plus a number called DD.
These are aggregate numbers that look at the landscape of the options market.
And so with that, we can forecast pivots in the greater market.
Last October, if you can go search through the tweets on the Matt account, two days after we bought them, I called a bottom.
Everyone thought it was crazy.
Rocket Scooter pointed up.
Every single detail of Rocket Scooter's pointed up every day since then.
The DD number has been bullish every day with the exception of two days for an entire year.
It showed a bull bias in the equity side of the market.
So we're still showing a bull bias in that tool.
I just posted a tweet.
This is from me from the Trading Camp podcast where I made an S&P, a SPY 500 plus prediction.
So last year when everyone was calling for doom and gloom, I said the market would double top through the summer of this year.
And now we're approaching summer using the same tools at Rocket Scooter.
We're showing the market rallying through October.
These are very powerful tools that we have.
We've made these things to make trading a lot or to make the analysis tools for retail traders to be much simpler and much more effective than just chasing price data alone.
The options market tells and reveals so much.
And I see that the CanCap folks are in here and they can talk about a little bit more.
But on the Trading Camp pod, I talked about how the recession was actually over.
Economic data is now pointing to an economic recovery.
So this is a new paradigm that we're entering, a brand new shift.
This is going to be one of the biggest short squeezes we've ever seen.
And all the details are there.
And we invite you guys to come check out, you know, obviously what we have at Rocket Scooter.
But take a look at that podcast.
I talk about a lot of the things that are going into a prediction of the recession actually being over.
I know it's a big call, but the data can't really lie.
So take a look at it.
I'm glad you guys tuned in.
I'm going to go have some breakfast and enjoy the rest of your holiday, everybody.
We'll see y'all later.
Have some fun, Matt.
All right.
Really good stuff.
And Matt also predicting Spy over 500 is upcoming.
So that's something to watch out for there.
Hey, I love it.
We're getting the CanCap official account up on stage these days.
Who do we got behind that?
Or is it just coming up to hang with us?
I have no idea who that is or what's going on there.
But...
An imposter.
Oh, it looks like they're trying to unmute.
CanCap.
Oh, wait.
That's probably Noah.
Might be Noah.
Yeah.
I think Noah's like the only one that even uses that account.
I like him, man.
Yeah, that's fine.
I'll leave it up here for today.
Yeah, I'm happy to have it up here.
What's up, man?
Good morning.
Good morning.
You want me to kick it off here?
Let's get Alejandro in.
Whichever one of you guys wants to kick us off.
It's been a hot morning.
I would love to hear what you guys have been up to and how you're feeling for this week.
All right.
I'll take it away.
I'm already unmuted here.
Hot, hot morning.
As you said, I am one of the traders not participating in the half day today.
I think the stock market rarely offers you a long weekend.
And so when we have a three-hour trading session, three and a half hours today, and then a day
off tomorrow, I am using it to refresh.
But looking through the market here, Tesla beat on delivery numbers.
I don't know if anyone talked about this on the spaces previous.
Obviously, an insane move this morning up 7% and dragging some of those ARC names with it.
So Coinbase up 9% this morning.
Coming into Wednesday, just what I'm going to be watching for the rest of the week as I get back to trading.
Coinbase looks like it wants clear skies back to the double top at year-to-date highs.
So I'm watching this one on Wednesday for a move to $85,000 into the end of the week.
So I want to see where those premiums kind of price.
And then my word of the day this morning that I'll leave you guys with is cup and handle.
Look at names across the board, but mostly Spy and Netflix are some of the ones I'm watching.
One of the more textbook cup and handle formations here on the daily chart that I've really ever seen.
I mean, you could put this in Merriam-Webster next to the definition.
So I think Spy is probably going to struggle here at this recent high, maybe consolidate or pull back a little bit.
But once it really gets a strong volume move through these June highs, I'm watching SPX.
I really think we get a move probably like $45,000, $75,000 would be the measured move.
And Netflix and Shop with similar setups.
So one that I'll leave the guests here with.
I'm watching Shop next week's at-the-money calls here, the 66s.
I think this gets a move to the 70 gap.
So I've been talking about, if not a blow through it.
The measured move on this cup and handle formation on the daily would be like 72.
But it has a gap to fill to 70 and some change right off the bat.
And the at-the-money 66s for next week are trading around $2.
So that's an instant double if we get a move to 70.
So that'll be one of my big plays that I'm watching when I get back to the setup on Wednesday.
All right.
Thanks for starting us out there, Mander.
Alejandro, what's going on by you?
What's going on, Wolf?
Good morning.
Good morning, everybody.
And happy Monday.
As Mander mentioned, it is a short trading day today.
So after, you know, watching for about 15, 30 minutes, I just decided that I would be sitting out.
Not only because of the half day today, but the S&P futures are now going to have to undergo a period of price discovery after the Thursday, Friday rally.
And just really, you know, when you take that into account and, you know, trading after giant rallies is some of the most difficult time to trade because, again, ES needs to reset.
We're obviously overbought.
And you're running the risk if, you know, you're running the risk of multiple levels of support being cut through on sort of a knife down.
But then shorting is, of course, but then shorting is, of course, risky because you're shorting into strength.
So it's important in those days following to kind of just take things a little bit lighter.
Wait for that.
Sorry, don't think that was me, but apologies if it was.
No, no worries.
Is someone muting you?
It's not me.
Not me either.
Matt?
I don't think it was, but I'm out of accidentally.
I'm here in the perspective.
Yeah.
Yeah, Alejandro.
Okay.
Yeah, no problem.
So, again, I just think that today.
And then the futures are also open tomorrow until 1 p.m.
So another short in session tomorrow.
Let me accept this.
Coast invite.
One sec.
Now you can't get me to take.
All right.
Perfect.
I'm immune.
Good.
All right.
So, yeah, taking that into account, just decided that I wasn't going to do any trading today,
which, you know, is unfortunate because we had.
So if no trading today, no trading tomorrow.
And then, you know, Wednesday, though, you know, who knows?
It's a shortened week, which in my eyes means less of an opportunity to make money.
But it's important not to just try to force your hand and to kind of respect the market
and understand what's going on.
So that was my mindset coming into today.
As Mander mentioned, Tesla going absolutely bonkers.
Some of the Bitcoin names going absolutely bonkers.
But the Thursday, Friday rally was a breakout of what was a massive bull flag that was building
all of last week from the previous week's high.
And on that Thursday, Friday, we broke out of that bull flag and we set another leg.
And so just using basic technical analysis, there have been so many good trades in understanding
the trend, understanding the fact that when we were pulling back early last week, it was
a very controlled and slow pullback.
And that's typically a sign of a corrective move setting up for another leg higher versus
what would be a true pullback or sell off.
And so everything was just kind of leading up into this giant move into the end of the
week.
And we have been seeing that Thursday, Friday rally extremely often over the past month and
a half or so.
And yeah, I mean, just really good trading all around.
So it makes it makes it a little bit easier to to not have a full trading week this week.
But yeah, not not much in the cards for me until Wednesday rolls around and we can kick things
back into year.
Sounds good.
OK, waiting for that real action on Wednesday.
But I know there's some that are trading today and I'm feeling Sniper, you might be one of
them.
Are you watching anything specific right here?
Well, to be honest, I'm not particularly set on trading today or not trading today.
If the opportunity presents itself, then I'm going to go for it.
But I'm not in the moon in the mindset where I have to take a trade today.
It is a half day, just like Mander was saying, especially in the stock market.
When we get these kind of opportunities, it's nice to enjoy it.
But I'm looking at spy as typical and in this four hundred forty area, I don't have too many
levels.
I have one at four forty one oh three.
And last Friday we didn't quite reach it, but I was looking at this level for a bounce
and just about early in the morning, like one of the first candles of the day on the
five minute.
We just missed it by about I want to say about 10 cents or 12 cents or so.
But if you ended up adding it off there, it would have been a pretty nice trade.
But I'm going in with a similar attitude today, particularly right now.
I don't really have anything exactly on the radar when I'm looking at the one minute and
the five minute.
Not really too much interpretation there from what I see.
I see wicks going both ways and I'm seeing some pretty funky looking candles.
Overall, I'm looking for things to kind of calm down a bit and see if we can get a nice
trade in and scalp towards the upside.
A little afraid to short, to be honest with you.
But yeah, one thing also that is is of notice or is worth noting is four forty three ten on
spy.
I'm not directly watching that level per se, but that is the previous low that we could
see at ten twenty two.
I'm watching to see if we can end up breaking that or if we could possibly bounce off that
previous low.
Yeah, a little scared to short.
I can definitely relate to that.
You never know with this market, right?
It could just fade up the last two hours.
There's a lot of pieces that could happen within it.
So I can respect that.
Instead, I like looking for the hot pockets at the moment where there's clear catalysts
and riding those.
So definitely playing alongside has certainly worked better for people over the past month.
And there's, you know, especially if you're a rocket scooter believer, nothing to say
that it's not going to keep working for a little bit here.
OK, let's go over to Noah, who's behind the King Cap account today.
What's going on, Noah?
What is going on, Wolf?
I hope everybody had a great weekend.
Happy Monday.
The guys made some good points.
First, obviously, I think when you look at ES or SPY, whatever you use to watch the S&P 500,
the price action has obviously been pretty constructive over the last several sessions.
And, you know, whether you're a rocket scooter believer or you're somebody who just uses pure
technical analysis, it does seem like, you know, we should get some good action this week.
And then on top of that, you've got a few catalysts as far as high impact news drivers.
So I believe on Wednesday we have the FOMC minutes release.
On Thursday, we have got balance of trade and jolts as well.
And then on Friday, we've got NFP.
So definitely no shortage of high impact news drivers this week.
And, you know, given the squeeze metrics that we're seeing from rocket scooter, given
just the basic, you know, basing and breaking out of this flag that Alejandro was talking
about, you know, the market does seem poised to give us a decent opportunity later in the
week.
And so I think Alejandro makes a really good point where, you know, that's a bit of a
silver lining looking at where we are right now.
You know, maybe today's price action will be a bit slow with the half day holiday volume,
et cetera.
But I do think the thing should, you know, pick up hopefully when we return on Wednesday
to trading.
So I'm looking forward to that.
Additionally, last week, for me, it's like a bit of an even longer weekend because I actually
had to get out of here early on Thursday and Friday at a wedding.
So I wasn't trading.
And so it's a bit of like an extended, you know, weekend for me.
And so these are, these are always great, obviously.
But, you know, if I heard Alejandro say that, you know, it seems like an opportunity, like
a, like a missed opportunity almost to, to, to not really be able to capitalize, obviously
on the full week with the half day today, then markets up tomorrow.
But I think this is the last holiday that we have until like, what, Labor Day.
So I think we're going to be straight through here for the next, you know, seven, eight
weeks, you know, with no holidays.
So no interruptions.
It'll be pure trading five days a week.
And I'm sure that, you know, if you're really addicted to this, like I know some of us are,
then, you know, you're looking forward to that.
But as far as the rest of today goes, I'm interested to see if we do wind up, and Snipes
actually touched on this a bit, if we wind up coming down to take the lows that we had
set this morning, I would want to see where Spy wants to hold up.
We have a massive gap to fill, obviously, from that, from that Thursday to Friday session.
And it'll be interesting to see if the Bears want to push us down into that gap before
getting this next leg higher.
Personally, I like just the way that I like to view, you know, price action when there's
an unopened, an unfilled gap below us, whether that's like a gap up on a, you know, on the
overnight session or that's like a fair value gap on the daily chart, whatever it is.
I really like to see those gaps filled before we move higher.
Like if we trade higher without filling the gap, I view it as almost like a downside risk,
like a gap risk to the downside, we may want to come down and test the gap.
So if that is something that we do, you know, today or Wednesday, I would look for Bulls
to hold that as support for potential next leg higher.
That's sort of, you know, my early plan coming into the week.
I'm going to reassess on Wednesday, look at how Monday trades and wait for the opportunities.
And one of the things I actually talked about with the guys yesterday is that, you know,
through backtesting of my strategy and the way that I trade, Mondays historically are terrible
days for me.
And Tuesday, Wednesday and Thursday are always pretty good.
And then Friday's a bit hit or miss.
And so I think, you know, I'm never one to get overly aggressive on Monday and, you know,
the half day, the half day of trading sort of just a little cherry on top for me to say,
you know what, let me just take a step back, observe how the market wants to trade today
and then really attack Wednesday, Thursday with the high impact news drivers that we've got.
So a little quiet today, but definitely looking forward to the rest of the week.
I think it should be a good look.
Thank you, Noah.
Appreciate the insights here.
Going to get some thoughts from just one or two others, and then we'll dive into some of
what you guys specifically have been working on, maybe on setups, on approach, on what's
been working lately.
And then Alejandro, just prep for this, because when I come back around to you, I definitely
want to hear top setups for the second half of the year and approach a mentality for the
second half of the year.
Before we get to that, though, Falco, do you have a few comments?
Yeah, sure.
Good morning.
Thanks, everybody, for having me on.
I know it's, you know, July 4th holiday, so short day today.
Just thoughts on the market the last couple quarters.
I mean, anyone calling this a bear market rally, this is the craziest bear market I've
ever seen, but three quarters in a row up 6%, 6.5%, and 8%, three quarters in a row, so kind
of an interesting bear market out there.
And then also just another highlight for the first half of the year.
And I did steal this from Christian Frommertz, but he already did the work, so why should
I repeat it?
I retweeted it at the end of last week.
So on the S&P 500, there was 32 companies up over 40% year-to-date, 103 companies up over
20% year-to-date, 182 companies up over 10% year-to-date.
So again, when you look at a market cap thing, I get that people say, like, oh, it's only
seven stocks, but it is clearly not seven stocks that are moving up.
We are getting broader and broader participation.
If you look at the NYSE 52-week highs list, at the end of last week, it's the highest that
it's been as far as number of stocks traded on the New York Stock Exchange, making 52-week
highs since November of 21.
We had 198 of those making new 52-week highs on Friday, which broke, like, a trend line
of that oscillator.
And as far as companies making new lows, there was 11.
So you have more and more stocks making new highs versus making new lows.
So generally, when the first half of the year is strong, the back half of the year is as
well, although I do think there is risk in, like, September, October for more of a correction.
Other than that, the last couple of weeks is just a garden variety pullback.
I don't even think the SPY pulled back 3%.
I think it was, like, 2.8.
And then the NASDAQ, which was, quote, unquote, overextended, pulled back, like, four and a
half or so.
And RSI has pretty much reset on that now.
So it can continue without being, quote, unquote, as extended.
So there's some things looking really, really strong for the overall markets.
And participation is broadening out.
If you look at, you know, IWM starting to pull along, making a new relative high, as well
as RSP, which is the equal-weighted S&P 500.
Even if you look at QQEW, you can see that one has also been strong year-to-date.
So it's not like, hey, there's only five or six stocks in the Qs going up.
It's just the ones that are going up the most have the largest market cap.
So I think looking at it that way is a little bit more descriptive versus, you know, people
saying, like, oh, well, it's only seven stocks because they're just purely looking at market
cap.
But the S&P, then that's also assuming, like, oh, SPY is the market when, you know, there's
thousands of stocks that are traded on the New York Stock Exchange.
So that's just my overall thoughts.
As far as today, there was a quick trade with Tesla.
There's like a one-minute flag slash pennant breakout above 280 that we took.
We exited right before 284.
So I think we got most of the move this morning.
I think that took a whole six to eight minutes.
So that was pretty good.
So after this, I mean, I'm pretty much done for the day with a nice start to the week.
Oh, and then the AMD put sales that I talked about last week, those were bought to close
this morning for about 75% capture.
Those were the regular July 100s.
And on any down day, I'll be looking to sell August 100s as well.
That's all for me.
All right.
Thank you, Falco.
Monique, how about yourself?
Hey, good morning, guys.
Hey, so yesterday, while we were waiting for Tesla numbers, I was mentioning this.
I think the, to me, the most interesting part of Tesla numbers is the fact that, you know,
they are beating the numbers so well, so comfortably here tells me that the consumer is strong.
That's another sign that the economy is not weakening or the, you know, the recession whenever
it's coming is not imminent.
It doesn't, you know, to me, it doesn't look like we're going to have a recession this year.
I've been screaming this.
And Falco, you know, pointed out a lot of things that I've been talking again and again and again for many weeks now on S&P.
The, you know, this notion of narrow breadth, it falls apart when you look at the details.
He's put out a lot of statistics already just now, but I'll just add one little piece.
300 of the 500 stocks are positive for the year, right?
That doesn't mean much.
But the fact that, you know, that, you know, if you measure positive versus negative, yeah, 60% of the stocks are positive for the year.
So, you know, many of them very little, but 200 stocks are, you know, over 10% return for the year.
And what is the bond return?
What's the best you can get?
So, you know, take that into context.
When people create these narratives, there is, you know, there's some, there's very little truth in this case.
There's some logic behind it just because the largest companies are also the, you know, the biggest market caps.
It tends to reason that, you know, their run will all, will account for most of the run of the index, right?
That's just because of how their market cap weighted.
It's, it's the construction of the index.
It's not a sign that it is a problem.
So, and again, right, all of the data points we're getting says, talks about the continued strength of the consumer, which is, you know, what, over 60% of the U.S. economy.
So, and if you add in the fact that this AI trend is helping the entire tech sector plus IRA and other spending is significantly helping the industrial sector and the consumers strong, tell me how this is a weak economy.
Again, I agree with what Falcone said.
It's not, this is not a bear market rally.
It's not been a bear market rally.
It's just, you know, it's just a narrative that does not hold water if you dig a little deeper.
Yeah, I, I've seen so many ways that people approach this and maybe I can just flip this right back at you, Alejandro.
But yeah, this narrative that, you know, bear market rally feels like that's been pretty thoroughly debunked.
It's been a pretty widespread rally now with several sectors participating.
Although, of course, you know, it's good to see large cap tech leading the way to the upside.
The question is, you know, where does it need to take a breather?
Now, let's talk second half of the year, I suppose, off of that.
What's strategy for you going into second half of the year?
Sure.
So, something that is really important to note.
So, if we want to talk like the second half as a whole, big picture, zooming out.
We have, we're in a rising uptrend channel with lower trend line support connecting the March lows and the May lows.
That support currently is at around like 4,300.
It's going to continue to rise, obviously, you know, it's a rising trend line.
But if you connect the March lows and the May lows, that trend line, as long as that trend line is remaining intact into the second half of the year,
there's absolutely nothing bearish, technically.
You know, we could sell all the way down to that trend line support.
You know, we could sell 200 points down to 4,300 and nothing has happened.
It's simply just a corrective move.
So, as long as we're still in that uptrend, I'm going to continue treating it as such.
And what we have been seeing is breakout, then backtest, then breakout, then backtest.
And so, identifying the trend, understanding the bigger picture has been very, very important for trading.
So, that's something that I think everybody should have on their chart going into the second half of the year.
But, obviously, everybody now is kind of on board.
You know, I'd imagine for the majority, the majority of people are on board with the fact that this likely is in a bear market rally.
And it's likely the start of a new bull market.
But for me, it's very, very important just trading 15 minutes at a time, right?
I'm taking one level to the next and I'm coming in every single day with no real bias.
But I think what gets a lot of people in trouble is that you can say, okay, I'm going to trade with no bias.
But you do kind of need like an underlying lean.
You have to have an understanding of the trend on the larger time frames and the trend on the shorter time frames.
And understand your technical analysis, understand positioning.
Obviously, Rocket Scooter is, you know, massive in helping me do that.
We know that, you know, positionally speaking, we are bullish through the end of October.
So, having that in mind, if you're a trader who struggled during the first half of the year, maybe you spent too much time trying to short the market.
Look at the amount of trades you were taking, the amount of longs that you were taking versus the amount of shorts.
I didn't really notice this.
It wasn't intentional when it first started happening.
But for the past three months or so, I have almost never been taking short trades.
The setups I was looking for were never presenting themselves.
The past couple of months, I've been trading really well and almost exclusively trading longs.
And I was kind of looking at this and asking myself, you know, am I missing out on opportunity to the downside?
Like, why am I only taking longs?
Am I, you know, too long by it?
But at the end of the day, the strength that we've been seeing and when you're in a larger time frame uptrend, those longs are going to show up more often than the shorts do.
And it's going to be much more difficult to make a winning trade to the downside than it will be to make a winning trade to the long side.
And also, when you take a winning trade to the long side, there's more of a chance that you get that continuation.
There's more of a chance that you get a 70-point rally like we saw on Friday.
And so, again, trying your best to understand the bigger picture, eliminate, you know, the noise of the Fed and the interest rates and the yields.
And it's just completely irrelevant for a day trader, right?
If your goal is to take one piece of the action every single day, whether you're trading the S&P, whether you're trading Tesla, whether you're trading the Q's, whether you trade Coinbase for a living, your mindset should be, okay, I need to understand the price action.
I need to understand the trend and I need to catch a piece where I can catch a piece.
And that's basically it.
And right now, it is clear as day that we are in an uptrend.
Right now, we're in an uptrend on even the shorter time frames.
We've actually been bull flagging since Friday's close.
So, understanding that, I think, is going to be really, really important.
Focusing on the trend and just continuing to do what I've been doing so far this year and to the end of the year.
But going back to the first thing I said, that trend line connecting the March lows and the May lows, as long as that is intact,
there's literally not a single bear case in sight.
We could sell all the way down to that trend line and it's just a simple back test of support or just a simple test of support.
And, I mean, that trend line has just marked this incredible run that we've gotten over the past few months.
Got it.
So, drawing through from March 14th through May 4th?
Yes, exactly.
So, I've got actually, sorry, it's May 24th.
Okay, got it.
Going from the 24th.
Yeah, sorry.
So, it's like in that general, yeah, it can, where you connect.
So, I've got March 13th and then May 24th, which also, yes, yes.
Okay.
So, we've got definitely some room on your side.
We'd have to come all the way back down to like 427-ish, right?
Yeah.
Yeah, so, I'm looking at the S&P Futures.
I'm looking at ES.
So, yeah, I just connected the WICs of the March low and then that May 24th.
And it's just important to kind of keep that in mind.
Because, you know, in a week like last week where we were selling the first, what, three or four days we sold from Monday, you know, starting Sunday night all the way through Wednesday, all we were really doing was building a bull flag.
And where we bottomed last week, which was that 43-75 area on ES, that was just a backtest of the previous week's breakout spot.
So, we broke out at 43-75.
We sell 90 points down to backtest it within a bull flag and then we rally again.
And immediately, you know, sentiment was already shifting.
And sentiment is going to be based on the most recent move.
That's how it always works.
And so, as we're starting to pull back, if you're not understanding the fact that this is simply a backtest, it's not only – it's necessary, right?
We like to see it.
You know, as a bull, if you're looking to trade long, that actually is confirmation of the strength of the move.
Because otherwise, it would be what is called a false breakout where you break out, you come down to backtest, you're unable to hold that previous resistance level as support, and you sell.
That would actually be a bearish look.
So, coming down and confirming that breakout spot is bullish.
But if you don't understand that we're in a giant uptrend and that there's absolutely nothing bearish that could possibly happen unless we break below that trend line, then you may have gotten caught shorting.
Or if you didn't have that breakout spot drawn on your chart, you may have been shorting at what was an amazing buy opportunity at the bottom of the bull flag.
So, I guess the lesson is just go through the higher time frames in order to kind of understand what's really going on.
Yeah, I like that.
Having an understanding from a zoomed-out perspective of where your levels are and then zooming in and using those on-their shorter time areas to trade on, I do like that a lot.
But, man, do you use any similar trend lines or levels as kind of, hey, unless this breaks, I'm going to remain bullish, bearish, whatever it is?
Yeah, absolutely.
And I think going into kind of Q2 and how I'm looking to move forward into the second half of the year to answer your question is,
I've really been zooming out and I'm taking most of my trades really off a daily time frame with daily closes at levels as confirmation to either stay in the trade or get out.
Because, really, what we've been seeing is even on if you were in calls and we get a red day, Noah brought this to my attention, I think, last week and someone just mentioned this.
Even on that last pullback, the S&P didn't even pull back 3%.
I don't think it's pulled back over 3% in three months is what Noah told me.
So, really, I'm looking at everything as long as we're basing.
So, like Tesla will be a good one here.
As long as Tesla can stay above that recent high at 275, I'm still looking long.
And so, I think it's really easy if you're looking at a five-minute time frame.
At least it depends on your trading style, right?
I don't like to scalp.
I like to swing plays, especially in a bull market.
I think my risk to reward is infinitely higher trying to capture a move over a couple weeks while we've been rallying than, you know, getting a quick trade in and out in like an hour.
So, I've really been trading most of my plays off of the daily time frame.
And as long as we're holding previous supports on daily closes, as long as I still see formations and breakouts playing on a daily time frame,
I'm not really overly concerned with, say, you know, I bought in on a red day and we fell another $2 in the meantime, still closed above my level.
I'm not really too worried about the intraday action.
So, that's really how I've been approaching my trading.
And to, how do I say it, Monitib's point, I think he was mentioning on the Tesla numbers with the strength of the consumer.
That's one that, going into earnings season, which is going to be coming up a lot quicker than expected, that's one of the Tesla delivery numbers I'm really looking at.
I think we have a really strong earnings season solely because Tesla's kind of a double-edged sword in a business model where a new car could really be classified as a discretionary expense.
And it's also in arguably one of the most interest rate sensitive sectors.
And so, for them to come out with interest rates still high and still beat delivery numbers by almost 20,000 on the quarter, I think that really shows the strength of the consumer.
So, then as you move forward into other non-discretionary expenses and or things that are less interest rate sensitive, I think that just shows where the economy is trending.
And so, you know, moving forward into earnings season, if we get a strong earnings season through tech, through a lot of these other names that are really driving the market already, if a lot of them come out with double beats, I'm still looking nowhere but up.
So, I've really been looking at, you know, pullback days as pullback days and not trying to short the top whatsoever.
Definitely can appreciate that.
I also see Omar in the audience.
Oh, yeah, Noah.
I was just going to say to the guy's point, to Alejandro's point in particular when he talked about, you know, having not taken a short trade in a long time, I think, you know, depending on what your style is,
and I know that Alejandro and I have very similar styles where it's like, you know, I'm more or less trying to capture a good chunk of the day's range, right?
If the day's going to be a green day, I want to be in longs, you know, trying to capture most of that move today.
If I think today's going to be a red day, I want to be in shorts trying to capture most of that move.
If I don't know what type of day it's going to be, I sit on the sidelines and I don't trade hence today.
But I think you have to understand really where your strategy works best and where it doesn't because I think we talked about this a little bit in an episode of the Dividend Podcast a couple of weeks ago where we had Trade for Opportunity on.
He's a great trader in the community.
He builds a bunch of, like, indicators for retail and trading.
But one of the things that he mentioned is as somebody who is a bit less discretionary and is a bit more, like, rigid in his system, like, he really codes, you know, all of his strategies and is taking entries based off of less so discretion, but more so like a fast and hard system that he's got that he uses every time.
And he says that, you know, through building these systems and building these or coding these strategies, he said that he realizes that there's going to be quarters or even, you know, multiple quarters in a row where a certain strategy will be doing really, really well.
But he's noticed that, you know, when it stops working, it's pretty apparent.
And I think that if you were somebody who's using a strategy that was, you know, maybe working in the sense of shorting the weakest parts of the market over the past, you know, several months, or at least to start the year, I think that definitely could have, you know, paid off pretty well, as you saw some sell-offs, particularly in certain sectors.
IWL is basically flat.
You saw financials getting killed, things like that.
And now I think that it's just a bit more unforgiving on the downside.
And so if that was maybe how you were approaching the market in the beginning half of the year, that might be an adjustment that you want to make coming into the second half of the year, because, you know, you start to realize that these rallies are getting, you know, much less forgiving, and you're really not getting, you know, many pullbacks along the way to grab great short trades, at least not in the sectors that, you know, a lot of us pay attention to.
And so if you are somebody who's keen on shorting the market, maybe look for, you know, in particular, you know, weaker sectors, as opposed to trying to short the market as a whole, because, you know, whether it's the seven stocks, the magnificent seven, as they call them, that are sort of dragging us higher, or whether, you know, as Monitiv and Balconi both pointed out, it's a broader market rally, regardless of what it is.
We're really not seeing, you know, much, much downside on these pullbacks. I think that that is a tough situation for both Bulls and Bears, right? Bulls like to see, you know, pullback to, you know, EMA support or whatever, or coming back to retest levels of that we've just broken out of, you know, Bulls like to see those pullbacks getting at a better price.
Because you hate to feel like you're chasing the move, right? And for Bears, if you're trying, obviously, you can see how this environment would be tough for them. And so I think it's just about refining, really, like where, refining your focus, refining, you know, what it is that you're trading.
And if you're somebody who's solely going to trade the indexes, like Al Hunter said, shorting really just hasn't been the way. I also haven't been in really many short trades, you know, maybe a couple in the past, you know, month or so.
It's really just been, you know, long trades, long setups presenting themselves over and over and over again. And so I just try to remind myself of that, you know, when I see the opportunity to take shorts, you know, it will come eventually.
And I think that, you know, the problem is, we have, we think back to things like Jackson Hole, right, where we had the market rallying all throughout the summer, everyone keeps talking about how the market's going to trade lower.
And once it starts to trade lower, there's, it was very quick, right? From the, if you think about from, from the highs of last August, when we set those lows in October, it was almost like a straight free fall.
And I think that that's what people are envisioning when they try and short the top, right? It's like, I'm going to short the top and we're going to get one of those straight free falls down like we did, you know, towards the end of last year.
And I think, you know, it, those things are just so rare. They're just so rare to see. And I think that, you know, wasting your bullets trying to short the top in a thin market, you know, over summer trading is really not, not the move.
I think that the time will come, you know, for downside. It just, I really do feel it, you know, over the next couple of weeks, you know, it's just not going to be the play.
So I agree with, you know, I'll be looking for upside.
The last point to be, that I make on this topic as well. So SPX seasonality has been tracking phenomenally.
Typically June sees an end of month pullback, which sets up for a July rally in July is over the past 20 years has been one of the strongest months out of the year being green 75% of the time.
And so that keeping that in mind as well is pretty important. And again, it's been tracking exactly as, as it should with, obviously we saw the pullback into the end of June.
And then right on cue into the start of July, we're starting to rally.
I see if Connie's hand up, I want to jump to him, but really quick July also has over the last 10 years has the, the least intraday range in the S&P 500 in terms of, you know, intraday movement, intraday price action over the last 10 years, July has had the lowest, the least volatile bump in terms of intraday price action.
So that's something else to keep in mind if you're, you know, a day trader, primarily like focusing on indexes like Alejandro myself.
Yeah.
Yeah.
Falco.
Yeah.
So one thing I just wanted to add and kind of like sum up what everybody was saying is you can tell there's a lot of experience on this spaces here for either newer traders or traders that are struggling, like they win and then they give a lot back.
Um, you cannot just use one strategy forever because the market shifts and goes through different, um, different periods of time and different trends.
And so the most important thing is identifying what type of market we're in and whether you use a trend line or whether you use a EMA flip or, you know, anything like that to, to determine, Hey, I'm going to keep going long on this setup until X, Y, Z happens.
Whether again, that's EMAs crossover, uh, trend line breaks, you know, and then I'm going to shift or maybe, you know, I lose five times in a row or something like that going along before I start to look for shorts.
Like you just, you just, you cannot use one strategy, uh, all the time.
And, and if you are going to be that type of trader, there are going to be periods of time where you're just not, you're going to need to not trade.
Otherwise, what I see a lot of people do is they find something that works well, and then they make some money with it.
The market changes, and then they give all of that money back that they made plus more because they haven't identified that there was a trend change and that strategy no longer works.
I liken it to like, if you're going to build a house, you cannot only use a hammer because if you only got a hammer, everything else is a nail.
Like what if there's a screw or, you know, you got to cut a piece of wood.
Like if you don't have a saw or you don't have a screwdriver and all you got is a hammer, well, you better be very good at only looking for nails because it's very hard to, you know, build a house without, with, with only one tool and not, uh, not a bunch of different tools.
And those tools are strategies in the market.
They're strategies for uptrends, downtrends, sideways trends, and identifying what type of market we're in.
And then choosing the right strategy that will extract profit from the market at that time is really how a trader, in my opinion, has like longevity and doesn't have huge drawdowns to where they give back everything they've made, whether it's the uptrend or the downtrend.
That's, that's definitely a really good point.
I like to say when the regime changes, you can't get caught fighting the old war.
A lot of times the market looks or does a certain thing for an extended period of time, two, three, four months, and a trader can have a lot of success.
Um, and then when things start to change, they just continue, continue to hammer the same strategy, continue to do the same thing that they were doing.
And it's not always, you know, a strategy shift that's necessary.
Maybe it's, uh, you know, I don't know, like something in your system, trade management, maybe, uh, you know, for example, the beginning of June, right?
We saw, uh, several rallies and if you got very comfortable with shooting for those home runs, they were, they were available.
And when the market comes and it pulls back at the start of last week and there was much more choppy, there wasn't follow through on the downside or to the long side.
If you continue to shoot for those home run type trades, that's when you give back all the gains, uh, from when you were trading the rallies, uh, you know, earlier in the month.
But yeah, I do think that it's very important to not necessarily strategy hop and feel that you need to change everything that you're doing, but to be able to recognize what the market can give you and when.
And if you think about it, you know, the market chops 80% of the time.
Um, and for all of June, it felt like the route, the market was rallying nearly every day.
Um, and so there will come a time where we'll get some pretty intense consolidation and some pretty intense chop.
And, uh, it's important to have a trading system that's going to be able to take advantage of both choppy and, uh, and trend conditions.
And for me, that's just, you know, playing things one level at a time and then getting into a runner.
And if we get that massive rally, I'm along for the move.
And if we don't, you know, I already took the majority of my profits, but I do think that it's very important to be able to recognize and understand when things are changing.
I love it. Let me pop in for a sec. Cause I want to bring in Matt and then I want to bring in Omar, who I called up to give us a few minutes on those Tesla numbers, but real quick, we haven't really pointed this out too much.
We'll, we'll get to it a little bit more in a couple of minutes, but if you haven't already checked out the speakers that are on stage, we've got a variety of experienced traders with some great resources to be checking out.
Make sure that you follow in them across the board.
We also do have the King cap account up here today. We have a pinned post in the top of the space. Uh, we'd love trading with King cap.
They have a huge focus on voice trading. So it works really well with our Twitter spaces because it's just a natural progression.
So if you like what you're hearing on voice and you want to hear more call outs, trade stuff like that, we've got a free trial to the King cap discord pinned in the top of the space, easy to access several different trading styles, all voice walk through so many great pieces to it.
So definitely make sure you're checking it out if you haven't yet. And Matt, let me give you a comment and then we'll come over to Omar.
Awesome. I want to just piggyback on what Alejandro said and, uh, um, what Falconium said. And so people that are looking to trade different strategies, don't, don't get overwhelmed.
Markets really move 99% of the time. One of four ways at all times, you need a strategy for each one. Markets either move up and find higher highs a day after the next, they move down and find lower lows a day after the next.
Typically that's incorporated by lower volatility and higher volatility respectively. There's two types of non illiquid moves, which is going to be a consolidating pattern where markets get lower highs and higher lows.
And then there's like a megaphone or fanning out pattern where markets become volatile while they've consolidated. So reality, you know, you just kind of have to find how to trade one of each of those four or in reality, don't, don't, don't go overboard trying to find strategies for each one.
Find one of those environments that works for you and, and learn just ones. Like you don't, I like his analogy with the hammer, but I'll give it like what I think is a better one. You don't try to play guitar, drums, bass, and piano in a band.
You pick one instrument and you master it and you'd be good at that before you start picking up the other instruments. Right. So what are you good at? Like what I do in this bull market, I trade bull long, long, long. Oh, it doesn't look like a good long. Okay. I'm going to sit out. It's not, I'm going to short today.
Like master the one thing you're good at, right. And get really good at it. And if you don't find that one thing, you sit out on everything else until you've mastered that one thing. Then you can rotate to a new one and start to get better at that.
And once you master like those, essentially those four basic styles of trading up, down, you know, V-ing together, fanning out day after day, those are really the only ways to look at the market. I mean, there's 99% of days are like that. One of those four. And I have a strategy for each one too. It's not a universal strategy either, you know, and obviously just rearranging your tools to accommodate that. Just something that comes with practice, you know, but you can really, I really believe you can boil down the market to four different types of days and that's it.
So thanks for having me guys.
Thank you, Matt. Okay. Omar, mind giving us three, four minutes here on everything that's been going on with Tesla over the past day and some of those numbers that we got.
Yeah. So Tesla reported their production and deliveries for the second quarter of yesterday morning. And it was a beat. I think the consensus on the street was for about
246,000 or sorry, a 446,000, 448,000 deliveries. And they posted about 466,000 deliveries and 480,000 units produced. So when I started covering Tesla in 2018,
they had manufactured about a little less than 250,000 cars for the calendar year 2018. Now they're, you know,
they were a very niche automaker. They weren't profitable. And, um, you know, you had automakers
like Toyota and Volkswagen making 10 million units a year. They at, you know, 250,000 units a year were kind of
like a curiosity, not really something to be taken seriously as a force in the global auto industry.
And, you know, now they're making 250,000 cars in half the quarter practically. So they've gone from
really being this niche electric vehicle manufacturer to in 2024, I believe that they have a good shot out
selling Mercedes-Benz and BMW on a pure electric vehicle lineup, right? So they don't sell any gas cars.
They don't sell any hybrids, just selling electric vehicles. I believe they're going to be one of
the top 10, uh, auto manufacturers in the world next year. So this is really a long-term secular growth
story we have here with electric vehicles. Um, even though there's tough economic times, there's
high interest rates, they've reduced the prices and, uh, you have also the EV tax credit and other
incentives. They seem to be doing pretty well. The China market's, uh, picking up. So it's a good sign. Ultimately,
when you have earnings coming up in July 19th, people are going to be looking at, okay, what was the, okay, so you
delivered a record number of cars, but at what cost? What is the margin on these vehicles? Um, there were heavy
incentives offered throughout the quarter, for example, three years of free supercharging, um,
you know, discounts off the price of the car, that sort of thing. So really where do the margins fall
in this quarter? I think that's the big question mark. Um, but the delivery number I think is great. So
the incentives definitely had their intended, uh, reaction where, you know, they're delivering a
record number of cars, but going into earnings, I think, um, that'll be something to watch. And
it, you know, it could very well be an improvement over last quarter sequentially in terms of margin,
or it could be worse. I'm not sure. Um, there's a lot of other variables, costs falling through.
So we'll have to see how that goes. But ultimately the company has decided that through this downturn,
this high interest rate environment, they would rather optimize for high volume than maximizing
margins. And, you know, to be honest, I think that's the right strategy. Really building up the fleet,
making sure they have as many cars collecting data and improving their AI is probably far more
interesting to me than the number of cars they produced or delivered. For example, you know,
their full self-driving beta, which is driving me around town now. It's getting incredibly good.
It's not perfect, but yesterday I had to pick up my friend from the airport at LAX and the way it was
just weaving through LA traffic, just so smoothly, so comfortably. It used to have all these issues
where, you know, hesitating or just do things that weren't smooth, breaking too hard. No, it was just
navigating through LA traffic, you know, so smoothly and so well. And this is only possible through fleet
learning, through AI that improves by learning from the fleet. And what's even more impressive,
I think, than the delivery number, which was a great beat, was last quarter when they reported
they had 150 million miles on full self-driving beta. I expect that by the time they report on July
19th, they'll have actually doubled that to 300 million miles. So more miles were driven with the
full self-driving beta in this quarter than for the last three years combined. I mean, this is just
growing really fast. And going forward, they're going to apply this technology to all kinds of
things throughout the car. They're building a humanoid robot using the same sort of AI that
understands the real world and knows how to move through it. So yeah, I think it's really exciting.
They've now got a fleet of four and a half million cars across the world.
That is awesome. And they're making huge headway. And obviously that was reflected in the stock price
this morning. Alejandro, have any thoughts on some of the updates there? Did you end up trying to
trade Tesla at all this morning?
Checking in to see if your mic's still working here. Alejandro, Noah, or Sniper, or Mander, happy to bring
any of you in on that point as well. I was, you know, pretty excited to see that beat.
Right.
Yeah, Noah.
It was one of the few things that was moving this morning and caught my eye. And I had even
some non-market folks texting me about how Tesla's up 5% free market. That's all you know.
But yeah, I mean, look, that's honestly, Mander has been all over Tesla the entire year. That's
really sort of been his go-to. And he's just been trading it to the upside. And I'm sure that,
you know, he would probably have a bit more insight on the delivery numbers and whatnot and
how, you know, that gets interpreted into the stock price, you know, in terms of like
short-term basis. Because, you know, really the thing has just been rallying, you know,
for the past several months. And, you know, Mander's got a very interesting approach where,
you know, he buys himself some time. He'll take, you know, calls or looking to get long,
you know, through an options trade and he'll buy some time. And ultimately, just let the trend
sort of work, right? And even if he doesn't get, you know, that crazy move on day one, day two,
day three of the position, you know, ultimately, it usually comes around. And I mean, he's been
absolutely killing it. It's really probably been his top trader so far this year. So, Mander,
you want to give some more insight there?
Yeah, real quickly, before we pass it back to Alejandro, Tesla for sure has been my top year
to date gainer in terms of individual stock. And that's exactly what I've been doing. I think,
you know, it feels like yesterday, it really was only six months ago, Tesla was trading 75%
off of highs. We were probably on the spaces talking about the price cuts and how they would
rather cut into margins, but keep their foot and their threshold on the EV market share rather than
continue to chase more profitability. And I think that was exactly what Omar just hit on.
And now the stock's up 175% off of those lows that it set off of this. So, you know, I think they
took the business model where profitability will come and it's not that like they aren't profitable,
but they really wanted to capture that market share on the EV space as the sector continues to
grow. And I think that was a smart move, as he said, the same thing. So that's really how I've been
looking at the stock. I mean, it's Tesla, right? This is a squeezer. It's always been a squeezer.
And so I'm trading it really exactly how I talked about earlier, right? If it gets in
that consolidation form, it just pulled back, I think like 35 points off of the high fell to 240
and that bull flag, you know, the second that gets the breakout, I'm targeting new highs. And then
I really think this goes at least a 313, 315, that August triple top from last year. So I think
there's still plenty of room to run in this name. And that's, that's how I like to approach it rather
than trying to picture perfect time something, you know, have my target of where I think it's going to go to
find it somewhere on the options chain that gives me enough time for it to get there and would give
me a plus R trade at that price target. So that's my two cents on that one.
What do you think, Alejandro? And then do you want us to give us another minute or two,
just on that link pinned up top?
Yeah, no problem. So just quick thoughts on Tesla. So yeah, I mean, I'm definitely a believer
in Tesla. I haven't necessarily traded it in a long time, but I do own some. And my commons are up,
you know, a good amount at this point. And it's really awesome to see. And as Maynard mentioned,
there was a point where the stock looked pretty ugly. And I remember going on our morning show
saying, you know, as a Tesla believer and as somebody who owns the stock, I'm not really focused
on the price of the stock for the year 2023. A lot of the auto companies obviously began to struggle
and it was reflected in their stock price when interest rates went up because effectively the
price of a car goes up. But when Tesla began to cut the prices of their cars, I saw that as a really
aggressive move to gain market share. And I saw that as a massive positive. And to me, that was just
them saying, we want to see people in Teslas, even if in the short term, we may make less money. But
also it was putting other car companies into a position where they were either forced to cut their
prices or forced to fall behind in the race to gain that market share in the EV market. So really
awesome to see that the stock has been doing well this year after again, what was, you know, a pretty
ugly period of time. But yeah, again, and I think it still stands, you know, I don't know that the price of
the stock is, is really relevant at this point in time. Anytime I make an investment, you know, I'm
thinking on a five to 10 year investment horizon. And so while it is awesome that the stock is
completely crushing it, it's important to just focus on what the business is doing. And based on
what Omar said, there's a lot of, there's a lot of good things to look forward to. So that's awesome
to see. But to talk about King cap, as we wrap up here, I'm appreciate everybody who tuned into us
speaking on the space. This is always fun. We're on here every Monday morning. We do live trade all
day in our discord group. We have a seven day free trial going if anybody is interested in that
futures trading options trading. And if you know, you're looking to learn to trade, it's definitely a
good spot as we do have that voice trading. And what that means is we're giving our live entries and exit
stopouts, talking through the process of why we're entering trades, why we're exiting trades.
I personally have my own channel where I will write out my notes for the day, my game plan for the
following day. I review my trades in there. Basically everything I put on pen and paper
in my own trading review, I'll type out to the members so that everybody can kind of get an idea of
what it is that I'm thinking and how I manage through the good times and through the bad stretches
is it's important to really just understand what it looks like to trade in that profitable trading is
by no means perfect. And yeah, I think that we've just built an awesome community in there. So for
anybody that's willing to check that out, you know, would love for would love for you to join us.
But thanks again for having us on Wolf. Thank you, sir. Appreciate you being on. Thank you,
Alejandro, Noah, cane cap team, Mander, Sniper, all of them. We love having you guys on every Monday.
You bring a lot of good insights to the table and I'm always excited to hear what you guys have to
say. So appreciate you all for being on and thank you to audience for coming and listening. We got one
more space that we're going to roll into right now. It's going to be with my friends from Trade Aries and that'll be
our last space for this morning. I'm just going to go ahead and I'm going to drop a co-host over to
Retta so we can get you up on stage. I'm going to change the title and we'll get rolling with this
last one. We already have the speakers up here. Thank you, man. Appreciate you for being on.
Take care to the others. And Retta, can you hear me loud and clear? Yeah, how's it going, man?
Good morning. All right. I'm doing good. Hey, real quick question. Is that 10% extra still on today or
not? Yeah, it should be off by tonight. So the way that that bonus works, I think I've explained
this pretty much in depth to anyone who's reached out to us, but I'll explain it up here. So there
are roughly 30% of Aries stock left available and that includes all of the bonuses that will be going
on. So this 10% bonus, basically, if you reserve your shares of Aries between now and the next couple
of hours, you'll get 10%. But you'll only get 10% if you complete your purchase of the shares
within that first week. And then one of our representatives will be calling you out probably
the first week of us going live. And there will be another bonus incentive to closing your shares
off in that first week. So that number isn't specific, but you're looking between anywhere
between 15% to 20% bonus stock if you can complete that registration form by the end of today.
Okay, very cool. I just wanted to make sure of that before we went ahead and got into it. So
let me roll us into this space for the next hour that we'll be doing chatting with Retta. We've got
Lucas and Bilo and Monitive and others that are already up here. Evan's up here as well. I just went
ahead and I got the out with all the info so that I could connect to the top of the space to make it a
little bit easier to talk about what we're referring to. But the idea is simple. Everybody's always
constantly asking me what brokerage I like to trade on. It's a very, very common question.
And I create trade whenever I possibly can. I trade on trade Aries. It is for me the best interface.
It's a very similar interface like Robinhood, simple UX UI, right? Not too much going on,
but just keeping it focused on the actual stocks, the options themselves, making it friendly color scheme,
easy to navigate pieces like that. The problem for me with Robinhood and a number of others,
and people have probably heard me say this, is you simply can't get good fills. And what does that
mean, especially if you're trading options? Like I'll tell you right now, let's say I want to go
ahead and I want to trade Tesla options. Let's say I think, you know, Tesla is going to sell off
today, right? I'm not confident it's going to hold up to where it is. And I want to take these 275
options, right? So I load them up for the weekly 275s and I go and it shows me this spread,
right? There's a bid at 440 and it shows me the ask at 445. Currently, it was at 450 a minute ago,
right? So when I go in, let's say I want to try to get a lower fill, right? If I put in that bid
at 435, it tells me it's a low fill likelihood. If I put it in at 430, very low, right? And lower and
lower as it gets. Versus when I'm using trade Aries, I'm often not getting such a widespread sometimes
where it's 15, 20 cents of a move. I'm able to get that higher likelihood fill towards the
lower end of the range. And I'm actually able to get it to execute fast. These are a lot of the
reasons that I like it. There's also a free flow built in. But the reason why we're having them on
today is that they're actually in the middle of a raise. And this is a bit unique, right? They've
raised in the past. It's gone just through VCs and they could do that again this time. But the idea
here was to actually allow an opening for retail investors to be able to participate in this,
especially because I think after today, a lot of you are going to want to go check it out.
And I'll get that link underneath the link that's pinned up top. If you want to just go and take a
look at the brokerage, it's free to check out. They actually give you $100. If you put $500 in
the account, you don't have to trade it just as an extra bonus for getting on there. So that's 20%
return right off the bat. But pretty cool stuff as to, for me, the fills, the flow, and some other
pieces. So Retta, walk me through why you guys are raising, what your history has been up to this
point and what you're looking to do with the money and why you're getting retail involved.
Sure. That's a great question. I think a lot of you guys may know us as a trading platform. We
sort of token this idea of, hey, in the retail space, there isn't really quality access to the
stock market, especially quality direct market access. So we partnered with TradeStation. We
work with TradingView and Benzing and all these other really big companies. We try to make sure that
we provide retail investors with the best possible market experience. And we take that global. So
we're in 130 countries. Clients in 130 countries can trade commissions, free stocks and options.
And then they can also trade futures, crypto, index options, ETFs, you know, and some of the more
advanced derivatives. Now, a lot of people ask us how we do that. It's pretty simple. There's 6% of
our client base that trades index options. They pay fees to trade index options, albeit there's still
less fees than any other brokers pretty much out there, but they're trading, they're paying those
fees. And that 6% pays for the other 94% of our client base to access high quality direct market
access stocks and options. I believe we have pioneered this sort of loss leading approach,
and it would not be easy for our competitors to mimic the same thing because they would have to go get
NFA licenses, then they would have to, you know, go into the exact same clearing agreements, and then they
would have to go into these countries at the exact same way. So in many of the countries that we're in,
about 124 of them, we are the only no commission option. You can sort of, you can sort of think of
it like that. And our history has been, there's probably many of you guys in our discord. If not,
I urge you to be in there. But basically, we've spent our entire professional careers building data.
When we sold our last company, which was a data analytics company, we decided to run a survey and ask
people what they hated about the data analytics space in the stock market. And of those 70,000
clients, we got back an overwhelming response of problems with their brokerage. And that's how we're
here. So, you know, naively, we were like, Okay, fuck it, we can probably compete against, you know,
the Weevil and the Robin Hoods of the world, let's just try it. And we raised some cash. Last year,
we built out what we think is a pretty comparable platform. And we've done that all based on user feedback
directly in our discord. So if there's something that you hate, or there's something that you don't,
you know, maybe you wish was better about your brokerage, or even our platform, I totally recommend
you to hop in our discord. If you deposit $500 on Aries, we'll give you 100 bucks. You know,
like Gav said, take an order, I promise you, you will not find a, you know, a more direct market access
approach, especially in the retail space. And if there's something that you think could be better,
or there's something that you'd like, I can promise you that our development teams will
throw it up on a roadmap, and you'll see it in a couple of weeks. You know, with all that being
said, if we're building a platform, that's, you know, we were sort of, we sort of have to eat our
own lunch. That's where this raise is coming from. So we say that we're for the people, and we say that
we're trying to build around the discord. So when you're doing that, I think it's really important that
the people who are going to make money off of the company, maybe one day selling for, you know,
a very large multiple, that should be the people that are using the app day one. So last year,
we did a VC round. And this year, we were prepared to do a VC round, until the SVB,
the Silicon Valley bank crash in March, February of this year. And I think that following that,
I just realized, hey, this is probably an opportunity to go in and see how many of our
clients would actually be willing to join the boat. And we put this out there. And a lot of
people gave us an overwhelming response. So we decided to file with the ICC. And we're now working
with StartEngine. And in about two weeks, anyone will be able to purchase shares of Aries. So, you know,
the idea at a very fair valuation. So if Aries ever, you know, hits the hundred couple hundred
thousand client marks, and is a billion dollar company, the guys that will make that 40x return
will be our day one clients. And I don't know, I'm not sure if that answered your question. But
that's sort of the gist of it. Yeah, I think that's a really good way to start this out. And I love
the test that you kind of tell people, here's the confidence, right? Go put this to the test.
And tell me what you think. I put a link in the top of the space. It is the second link that's
pinned up there. And that will give you that bonus, right? So if you use that to make an account,
and by the way, trade areas and trade station, very interchangeable, it'll ask you to make a
trade station account, it shows a better interface to trade off with it. So fantastic execution,
but better interface, which to me is the best of both worlds. Go in there, get the hundred dollar
bonus that you can get off the bat, make one trade for I don't care 20, 25 bucks. And for me,
it was just as simple as making a trade or two. That's what clicked for me. And that's what I
wanted. And I saw. And I'm excited to see, you know, more pieces kind of come into this. Now,
let's talk about the environment right now for retail traders, Reddit, because I'm sure you've
done research into this. What's been the major trends that brokerages are seeing with retail
investors over the last two to three years? And where do you see these going over the next couple of
years that makes you excited to be in this business? Yeah, I think so. The best way to talk about
this and that, that in itself is, you know, we ran a data analytics company. So what you're asking is
a very, very solid question that pertains exactly to analytics. The numbers are sort of astounding.
I think most people don't look at the broad, you know, the broader picture, but the World Economic
Forum last year did a study where they revealed that 74% of all current investors, that's global,
not just the United States of America, that are trading US markets would invest more if they
have the opportunity to learn more about the asset type that they're trying to invest.
So a big problem that we see here in the United States is, you know, you have a Robinhood account
for your options trading, and then you might have a tasty works account for your futures and index
trading. And then you might have a, you know, a different account because you want to buy like
shares of a retail ETF or shares of a mutual fund. And that in itself is a broken system.
So in the US, the way that we go about fixing these things is we make a different billion dollar
app to fix each and every one of these problems. And then you end up with six different accounts
and you start on Robinhood. And then one day you want, you want to trade really advanced.
So you end up with a thinkorswim account and there is no leap or there is no learning opportunity
within the platform. So something that Aries is sort of really good at is it starts off super simple,
very, very similar to the modern platforms like a Robinhood or actually just like, I think Robinhood
and public really have mastered this. And then you can take Aries all the way up to an extremely
powerful tool with, you know, options flow and all kinds of financial analytics. And then soon
in the first quarter of the next year, we are introducing Aries Pro, which will be a downloadable
client, very similar to like a thinkorswim where you'll be able to have six or seven screens up at one
time. You'll be able to look at the earnings IV. You'll be able to take a really in-depth look at
the stock market and that's all done with one account. So you'll be able to open up multiple
accounts, multiple margin accounts, interchange your cash between those accounts and use, you know,
one trading setup for one account and walk around with a mobile app for another account. And it's all
done on one platform. That way you don't have to kind of jump around and you can stick to learning
and you can stick to adapting the platform as you learn. And on top of that,
61% of those retail investors said that they would trade more if they could do everything on
a single platform. And that's sort of, so both of those statistics together is like, look, the global
retail market is growing at 15% a year. That's, you know, five points over the S&P 500 average
on a yearly basis. And that's a CAGR. So if you think, if you take a look at a statistic like that,
as astounding as that, and you realize that retail traders are coming into the market more and more
and more, then eventually someone is going to have to figure out how to get those retail traders
access to the same level of data and research that is available to the, you know, the, the hedge
funds and the institutional investors. And the big problem with that is institutions think retail
traders are dumb. And I can tell you firsthand that when I was running a data analytics company,
we had guys that would teach themselves how to take a look at IV and options flow and go on to make a
couple million dollars a year. And they would never tweet about it. They never, they just went on to make
their own money. That's because there are people on this planet and there is a collective of people
that are willing to make trading work for them. But it's a matter of the barrier to entry to high
quality data and high quality order execution. And my thing is, if we can raise this money from the
everyday person, like, you know, like you guys listening in this space, if I can give you an
opportunity to invest in that in Aries and that idea, then what it creates is a system where I'm not
allowed to do anything against the people, because the people that have started the company,
the people that have funded the company are just regular everyday investors. And that gets us to a
spot where we have to build for the everyday investor. And if we have to build for the everyday
investor, that empowers the everyday investor. And I think that that could be a really big fuck you
to a lot of people who seem to think that retail as a whole is very ignorant and naive. But you know,
that's a different story for a different day. But the truth of the matter is the statistics
surrounding the sophistication of retail investors are astounding. And that's even beyond the 74%
that we just talked about.
Perfect. Thank you, Radha. Bilo, I see your hand up.
Hey, Gav. Hey, everybody. Very interesting. I'm going through your website. I really like what you've
done. Just a couple of questions. So we recently saw exchanges, like different exchanges in Robinhood,
delist some crypto after the SEC lawsuits via Coinbase, Binance. What's your position on this?
And have you or will you be delisting anything pending some clarity? And then I have another
follow up.
Sure. That's a great question. I think the SEC. So I want to I want to preface this question with
I myself am a very large proponent of cryptocurrency. I have made quite a I have made quite a bit of
money in the DeFi space. So I definitely have a soft spot when it comes to innovation in the DeFi space.
That being said, in the United States, I believe we've taken a very heavy approach to regulation.
And because of that, it's going to make it very hard, especially when we don't adhere to the Howey
test and others and other things. It's going to make it very hard to get to a spot where crypto is
regulated and coins can be traded. Now, that being said, today, Aries offers access to Bitcoin and
Ethereum. That is a huge barrier to international clients or lifts a huge barrier for international
clients, because in the United Kingdom before Aries, there was no commissions free option.
And the average time to open a US stock account was about 11 business days. Now, a client in the UK
can open an account, have their account verified in 24 hours and deposit Bitcoin, which runs 24 hours
and settles instantly, switch that Bitcoin to US dollar and then start trading US equities.
And I think that that is a huge leap in the space, especially when you have when you're
especially like intra border transfers. So I'm a huge proponent of crypto. In Q1 of 2024,
we are going to be moving our crypto custodian offering to Apex crypto, which was recently purchased by
Bakkt. And with that, we will be expanding our offering to another 34, another 34 coins, including,
you know, Bitcoin Cash, Cardano, Aave, Algo, Chainlink, and some of them, you know, really,
it's the most popular in the top 100 with the most volume. So, you know, my stance on crypto is barring a
massive shutdown from the SEC, or a massive ban, Aries will still provide access to crypto. I think that
it's going to be, I think crypto will be at the forefront of financial innovation for at least the
next decade. And I definitely don't want our clients to miss out on that.
Okay, thanks for that. And then looking at your platform, I see you have a lot of tools
that are free, that obviously add a lot of value. Have you considered or will you be considering
liquidity maps, liquidation levels, stuff that normally folks have to pay for to get?
Yes. Okay, so in order to talk about that, I think that that is, first of all, that's a,
it's a really good question, because it makes us look really good. But Aries is built, Aries is built
on Google's Flutter. So we are built on one code base. And for anyone that sort of, for any techie in
here, we are building on one code base, and the infrastructure is front end to API. So there is
no middleman for the data. So a lot of people ask about how, like how fast the data streaming,
et cetera, the data streaming on the front end is coming directly from the exchanges,
we do not parse, or we do not take a look at the data in the middle, unless we're building out a tool
like options flow. And the reason that we can build out tools like options flow, and many other broker
just do not build out those tools, is because they are operating on a sort of a bottleneck when it
comes to their data, due to their, you know, their middleman server architecture. And the many
of the tools that you guys pay for today, like, for example, there's a lot of guys in here that
might pay for a hedge data tool, or that might pay for an options flow tool, or that might pay for,
I don't know, you know, there's, there's a plethora of these tools available. So Aries will be releasing
an API, Q2 of 2024, that API will, and that data will be on an individual basis, anyone will be able
to build whatever tool they want. But even beyond that, some of the most popular tools that will be
built, we will build directly into Aries. And there are already a plethora of tools that are being
requested by our client base, that we plan to build in over the next couple of months, just because it's,
again, it does add a lot of value. But you have to sort of think of it like, we make money, we make
money as a broker. And the truth of the matter is, there's no reason for us to charge you 100 bucks
a month for data tools. Because it's, it's more lucrative if I can keep you as a client.
That's great. Thanks. Appreciate your time.
Yeah, no problem. Thank you.
I got a couple questions coming to the DM. So reminder real quick, if you are in the audience,
two things up into the top of the space. One of them is you can invest, or you can reserve shares
right now in the trade Aries raise. This is a raise at a $25 million valuation, they're opening up $1
million worth of the company to retail investors. If you go to that link up there, you can do two
things. One, you can go right ahead and you can reserve shares. There is a, that's pre-registering
right now that will earn you an additional 10% bonus shares on top of it. Minimum for shares is $500.
You can go, I think shares are two and a half dollars each right now. So you would be able
to get 250 shares there. In addition to that, there is a link up top to actually check out
the brokerage itself. It is free to download. All the tools are free with inside of it. You
get free flow inside of it as well. We talked on that a little bit, but that thing which you're
paying like 30, $50 for you can get for free on top of the trade Aries. Now, a couple of questions.
Somebody asked if you accept Canadian clients, you guys accept 100 countries. I'm assuming Canada
is included in that. Canada is not included as of today. The reason for that, I get this
question a lot. So Canada is a very difficult country to do financial business in. And the
reason for that is the laws change on a company to company basis, especially for options. What
Canada was looking for is a company to come in and open an office in every province if they want to
offer options to... Ontario is really the most difficult one. But you want to open,
you know, that's sort of what they're looking for. So that being said, my co-founder is Canadian.
We are very, very heavily invested in being the first options, no commissions broker in Canada.
We are working very swiftly towards that as fast as we possibly can. Just know that it's
very difficult to get into Canada. And we are probably 30 or 40% through the planning that's
required to get into Canada. And then it's just a matter of licensing and then being in there.
I would, like if I had to put an estimate on it and don't, you know, don't, don't take this for,
you know, don't, don't take this to run home. But I would expect at some point next year,
especially around the middle of next year, we will be in Canada. Just let me launch Aries Pro,
let me finalize this round on start engine. And then, you know, we will start to take a look,
a little bit of a deeper look into the Canadian space.
Okay, perfect. Other question was, if someone already has a TradeStation account,
do they still get the $100 bonus?
No. Let me tell you this. If you already have a TradeStation account and you're paying commissions,
it literally does not make sense. There are thousands and thousands of TradeStation accounts
that use my app on a daily basis. You just log in.
So Aries accounts and TradeStation accounts are the exact same thing. Download Aries, log in,
and you will not pay commissions if you trade through Aries, right? So if you're paying commissions
on TradeStation today, you will not pay commissions with your same TradeStation account. You don't have
to do anything. You just have to log in. Your money will all be there. You know, the customer support
is the exact same. Just log in and you will not pay commissions. There you go. So if you're on TradeStation,
you won't get that $100 bonus, but you can go ahead and get Christian Free Trading. All right. TJ,
what's on your mind? I saw your hand up.
Yeah, I appreciate that, Gov. So I was wondering, so I did some research on Aries and opened an account
over the weekend and kind of played around with the platform. So your goal, and just make sure I heard
this right, your goal is to make sure like tools like Flow and other tools that most traders typically
pay for are going to be free for forever. I mean, or is this just something to kind of just get the
ball rolling? And at some point, I guess there's a level that you're saying, okay, we might start
charging for this.
There's no reason to charge for it. So thank you for that question. I appreciate the chance to highlight
on this. There's no reason for me to charge for these tools, especially when they're... So think
about it like this. Everyone is probably somewhat aware with what's going on with Reddit and the
Apollo app. So Reddit is trying to make money. So what they did was they limited their API,
and that shut down some of the third party Reddit apps. The reason that something like that can happen
is because, you know, Reddit does not have a good business model without the API. And it just so
happened that the guys that were using the API made an even better tool than the Reddit engineers
could make. So our API will launch Q1 of 2024. Anyone across the world will be able to take my API
and build whatever the hell they want, execute whatever the hell order they want. And I'm willing
to bet you that people will come up with better tools than my development team can come up with.
And they will be powered by the Aries API. But the truth of the matter is, if those tools are all
powered by my API, and people are then pushing orders in with my API, that's how I will make my
money. The business model at Aries is very lucrative. And it makes it so that if I can get you in as a
customer, there's no reason for me to charge you for data, because you're a customer that's paying.
And as long as I can keep you as a customer, and if I can make you a better trader, think of it like
this. Imagine how many traders blow up their accounts. If I can make you a better trader,
and make you a more sophisticated trader, and teach you how to trade futures, then you are going to pay
more fees. And if you pay more fees, I will make more money. That's sort of the idea. I think the
statistic is like 91% of people blow up their account. If I can make it 60% of people blow up
their account, I will be a very, very successful brokerage.
That makes sense. I guess I was just asking because me and my team, we actually have an
option flow server. So I'm very familiar with paying for data and redistributing that data and
repackaging that data. And I understand the price of that to kind of scale. So I was just trying to
think in your head, in my head, I guess, was there a point at one runway that if that part of the
business grew, that the fees wouldn't be able to cover it. But you're basically saying that at any
point, even when you all release your API, which I would love to talk more about, because I think
that could definitely be a partnership for me and my team, that you feel like there is no reason why I
would charge for any data services. All will be free. Even from people using the API,
you don't see you charging for people to use the API because again, it just will increase your fee
revenue. Yes. So we ran a data company for a long time. And so, you know, we, you know,
if we're talking to like a NASDAQ, NASDAQ exchange members, opera members, stuff like that. So,
you know, yes, there are variable fees, like a $3 per user fee, or, and then, you know,
whatever the actual exchange fees are. But the truth, I'm already paying those fees,
right? Like I, I'm obligated in the United States of America to give you a, a, a, as good of a fee
as I can get for options data and equities data, especially if you're trading on my platform.
So I'm already paying those fees and that data is already being used on our platform.
And because we are not operating by parsing the data, and you guys are getting a direct conduit into
the, uh, direct conduit into the exchanges by using ARIES, there's no reason for us to not
package that data and try to restore, redistribute it as a flow tool or something,
you know, something else.
No, no, uh, I definitely appreciate that. And you were just saying Q4 is when you're looking
for ARIES to basically have the API release for other, you know, teams to be able to build on.
Uh, yes, we're doing private testing of that API today. Um, following our, uh, following our, uh,
so we are also integrating with Apex for some, some, some big advanced order routing. So following
that, uh, which will be about Q4 this year, we will do a public run of the API and, uh, then it
should be available to everyone.
Definitely looking forward to that.
Awesome questions there, TJ. What's up, Lucas?
Hey, thanks for having me, Gav. Um, yeah, I got a question. Who is, cause I know the problem with,
uh, with Robinhood is the market makers that were in control of Robinhood and then they would freeze
trading and all sorts of stuff during the pandemic. And a lot of people were very upset about that,
including myself. Um, I kind of sideways got into that and was like, wait, I can't sell the stuff I,
I have right now because it's frozen. So I want to know, um,
who is your market maker that's actually fulfilling your orders and can they be,
can this also be frozen if they feel like it at some point?
Um, that's a fantastic question. Thank you for that, Lucas. Um, so look, um, the, the reason Robinhood
fell into that hole, uh, a couple of years back was because of a liquidity problem. So basically there
was 10 million people trying to trade GME stock. And because Robinhood gives people instant access to
their money, um, they had to put up about one and a half billion dollars. Um, in it. So if you,
if Lucas goes to buy a share of Apple, right, um, I take that order and then I give that order to a
clearing agent and that clearing agent goes and gets the share of Apple and take Lucas's money,
right? But if I don't have Lucas's money yet and I already went into the clearing agent to get the
share of Apple, that means I got to front Lucas's cash before, uh, you know, before Lucas's cash
actually hits my account. So because that happened so quickly with Robinhood, they had about a $2
billion hole and with a $2 billion hole, they couldn't really do anything. So they had to go
and basically because a T plus two settlement usually takes about three days and it should be
fine. But they had such a large hole that they had to go raise additional cash and they could no
longer take any more orders to fulfill. Uh, they had no more money, right? They had a huge liquidity
problem. They had no more money. So we are integrating today. We're integrating where we
are. We work with trade station, which has been a broker for over 40 years, um, and did not have
many issues during that time. And we are also integrating with apex over the course of the
next couple of months. These guys were, uh, you know, these guys are the guys behind Webull today,
as far as clearing goes, and they are the largest clearing house in the United States of America.
And in order for something similar to happen, uh, like it did happen back in 2020,
you would need both apex and trade station and, uh, some of our other risk partners,
uh, which, you know, are, are not very popular, but are very big in this space to all go down
at the exact same time. I am not preaching that, um, I am not preaching that it's impossible.
I am preaching though, that we have built in a ton of redundancy. And the truth of the matter
is we could probably sustain 50 times what happened in 2020 and not have many problems. Um,
um, I, I just, you know, like, it really is a matter of how many people are you talking about
here? If you're talking about 500 million people trying to buy a hundred shares of GME,
that, you know, that's almost a trillion dollars. That's not very easy to fulfill. And I'm not sure
anyone could do that. Uh, but I do understand, but I do think that pretty much anything shy of a
black salon event like that has already been accounted for. And, you know, something even like 50
times would happen in 2020 is probably possible. Fair. I really like, uh, I really like your
guys's, so I'm in marketing. So, uh, I do product design and marketing. It's really, uh, you guys
did a really good job, Aries, you know, great art, great everything. And also I'm an Aries, so kind
of partial. So nice work. Hey, thank you. I appreciate it. I always tell people, um, because
people always ask me where that name came from. It actually came, uh, because we, so it's the A-R-E-S
is the God of War. And, um, we, we thought like we were being stupid and we were like,
oh, we're going to war against Robin Hood. Just name the project file A-R-E-S. And then eventually
we got a contract and we didn't, we have, we weren't incorporated yet. So we were just going
through the, the, the fucking Delaware website, trying to find anything that worked. A-R-I-E-S
just made sense. And then we ended up here, but I always joke and tell people that it was a way to get
girls. Nice.
Great question there, Lucas. Uh, I also see we got Evil up here. Evil, if you at any point have
any thoughts to throw in her questions, we'd be happy to hear from you. But I did get another
question from the audience real quick, Reda, because people cannot make the traders account
yet in Canada. Are they able to invest in the round from Canada? Um, so there, there are some
rules on start engine that go back and forth. Like I, I do believe that there is a couple of ways
right now we're telling people that it's pretty much only us customers. Um, I urge you though.
So here's the deal. Um, anyone in here that reserve shares, um, my team will be reaching
out to you directly. Okay. Um, if my team reaches out to you directly over the course of the, you
know, one, so we're going to go live on start engine July 14th. So it just, let me give you guys
a really quick preface. Start engine is owned by Howard Marks, who's the co-founder of Activision
and Kevin O'Leary, who, you know, Mr. Wonderful on Stark, uh, on, uh, on, uh, Shark Tank. Um, so all
the necessary SEC filings need to be in place. You need to get approved by the SEC to launch a, uh,
it's called a regulation crowdfunding round. So once you're able to launch this regulation
crowdfunding round, it's, uh, it's more not, it's not so much the platform that you're investing
through that becomes the limit. Um, there are, you know, there, there are ways to take cash from
international clients. And those are something that I'm exploring right now, especially with the
start engine team. So just reserve the shares. If you're like, look, if you're even thinking,
if you're even relatively interested, um, I urge you to just reserve the shares. It's no,
it's not going to be a problem. If you just cannot fulfill the order in a couple of weeks,
I'm sure somebody else will jump in, uh, uh, and take that spot. I, you know, like there's,
I think there's less than 20% or less than 30% of the shares actually left on the platform. So,
you know, if you're slightly interested, uh, and you think that you might want to fulfill an order
in a couple of weeks, then I urge you just to reserve the shares and somebody from our team
will reach out and try to make it happen. There you go. Yeah. Which I really like as well. So for
anyone that is pre-registering through that link above, you'll get to actually chat with the team.
You'll get to do your due diligence, deep dive. It's not just a push and click as you know,
somebody might be more wary of. I think it really does walk you through. And also that website is
really nicely built out as well. It's got tons of info on this and background. Now,
a question that I have that's come up beforehand and we kind of talked about it is,
can you walk me through the past precedence of a raise like this, perhaps in some of the earlier
days of other brokerages, or even more recently, other brokerages that you've seen that have done
fundraisers, what you're doing similar to them, different from them, and what you can project
holders or people that do purchase shares to expect over the coming years through this process of
being an investor? Yeah. Okay. So that's a really good question because a lot of people ask us how,
like startup investing is, look, the largest companies in the United States of America
were venture-backed startup ventures. And the reason for that is because you're getting
in on the ground floor, no one else, and you can take my word on this. You could also see it in
the filings when we go live. No one else will be purchasing Aries shares besides the venture
capitalists from last year. No one is purchasing Aries shares cheaper than the retail investors that
will be participating in this round on start engine. And the beauty in that is the valuation
is 25 million, right? We have just about 10,000, you know, just about 10,000 accounts. And if you do
the math on that, right, you know, options, let's just take a look at, like, acquisitions in this
space, usually happen between 4,000 and $8,000 per account, right? That puts Aries at anywhere between,
you know, 40 million and 60 million, barring, you know, making sure that we can transition over
to Apex. And then if you bump that up a little bit, you know, last year, we saw Tastyworks being
purchased, Tastyworks was bought for a billion bucks by IG Group. You know, the year before that,
there was Gatsby, which is a really small options brokerage with less than 1000 clients being purchased
for 50 million by eToro. In 2011, TradeStation was purchased for $411 million. And they had just
just under 50,000 clients. And then before, like, you know, before that, you had Options Express,
and all these different options brokerages being purchased for just under a couple hundred million
bucks. And the reason something like that can happen is because, you know, you get big enough
that you're taking market share from a Robinhood, for example, Robinhood decides like, hey, it's just
time to buy you. And if you're in on something at 25 million, and that thing has 100,000 clients,
right, there's a, you know, there's room for a 40 or 50 x gain there. And that's just typically how the
venture world works, right? Like you're waiting some time, you are going to wait a couple of years
to see a really high quality return. And it's based on the power laws, right? Like some of them will lose,
some of them will make a one x or two x return. And some of them will do it, you know, a 50 x 100 x.
And then in the case of companies that go public, like an Uber and Airbnb, or, you know, soon to be a
stripe, early investors will see 1000 x gain. That's just the way that startup investing works
in the United States. And I urge you, you know, if you are even slightly interested in getting area
shares, I would go to trade areas.com forward slash invest, I would read everything that you
can on that on that on that website, I would go to start engine, and I would read everything that
I could on start engine. And then you can book a call with myself and my team for the next week,
next about week, week and a day, you can book a call with me and my team, you could sit there and
ask us any questions that you may have on your diligence process. And the beauty of all this
is we are already building around our client base. So you can invest in Aries, join the Aries discord,
and then tell us things to do over the course of the next couple of years and really sort of mend your
investment in a way where, hey, I'm giving these people suggestions, and I'm making this app a lot
better. And I'm giving them tips to like beat Robinhood or beat some of these other brokerages.
But also in the back of my mind, I am motivated to do that. Because if Aries is able to successfully
pull this off, I will see a very, very large return on my capital. And that's sort of the thinking
here is if I can get the retail investors in the same boat as me, then I have access to my market.
And thinking, like, how lucky am I, honestly, like, imagine you were building a product,
and you could survey 1000s of people, and just slowly iterate to a perfect product based on what
they wanted. And that's the sort of the idea of the vision that we're hoping to, to, you know,
to make happen with this race. Yeah, I love the vision. And I'm curious, you know, you talked a
little bit about it there. But do you guys have an exit plan? Yeah. Is there? Yeah.
Yeah. So I look, I'm, I'm, I'm, look, there's, of course, there are risks involved in startup
investing. I think that I believe that if we pull this off correctly, Aries is a company that could
IPO, we would need our goal, my goal, I should say, is roughly 250,000 clients, I believe that 250,000
clients, especially with the kind of clients that my application produces, there are very high quality
clients, they are not the type of clients that you would see on a Robinhood, or a Webull, you know,
my clients are definitely more sophisticated. And that's because of the data tools, you know,
our average session time is under an hour. So between someone opening and closing the app,
on average, just under an hour. And that means that I have people that are researching on my platform,
if you have people that are researching on your platform, it means that there are also trading more
on your platform. And that makes my client roughly two times more valuable, three times more
valuable than a Robinhood client. And with about 250,000 clients, Aries would be a public,
you know, could be a public company with a valuation over a billion dollars. And that's,
if I'm being honest with you, that is my overarching goal. That being said, you know,
I'm a man of the market. And I am also like, I am also unopposed to making, making money. So if,
if I, if we ever receive an offer that I believe values Aries at, you know, more than whatever,
I think it's fairly valued at the moment, very similar to like 2020 or 2021, then we will make
a move to sell the company. It's just, you know, it's just, like, we will play it based on the
market. But as of right now, we're committed to building out the product, we're committed to
releasing the API in Aries Pro. And following that, we are committed to an aggressive, you know,
referral marketing and, you know, like free stock campaign, and trying to get the user
count above the couple hundred thousand. And then hopefully a public company, that's sort of my dream.
Yeah, I love the rundown there. Okay, so we've made our way through a lot of these different pieces,
you know, why people should be checked out the brokerage, what's going on with some of the shares
on screen as well. Evil, we do have you up here. I'm curious if you've had a chance
to look through any of what we've been talking about around this raise that my friends over
at Trader's are doing. If you have any questions, thoughts on this area of being a brokerage, curious.
Yeah, I've kind of just been listening along and trying to catch up. But I do have one question,
kind of the last thing you were talking about, when you were, you know, to get to a billion,
what kind of forward multiple are you applying?
So the average multiple in my space is about 14. So I'm applying a multiple about nine. So I'm also
doing it on a per account acquisition basis. So if you take a look at acquisitions in my space,
roughly, you'll see an acquisition price between four to eight thousand. Eight thousand is really on
the high end. That's a super quality account. Four thousand is really on the low end. It's usually
like a company that's just being purchased for its infrastructure. In my opinion, I think that
a nine X, a nine, you know, a nine to twelve X multiple probably makes the most sense based on
public companies. That being said, that's also based on the current environment where you have
my my largest competitor is trading publicly, Hood, Robin Hood. And they're trading at a somewhat of
a low multiple today. So that nine to twelve X that I'm talking about today is projected based on
current market environment. That could definitely change. I do believe that Robin Hood, you know,
for example, there's a lot of people talking about Robin Hood being extremely low. You know,
Robin Hood IPO at 40 and it's sitting at nine. So I think that there is room to see a a larger bump
in forward in forward multiples in the online trading space. But as of right now, based on current
market environment, anywhere between nine to twelve X.
Thanks. Thanks. And just just to kind of catch up a little bit, like I'm looking
through your website, it seems like you're mostly focused on crypto. Is that right?
No, we are a stock and options, stock and options trading platform. Primarily, we offer clients,
although we do offer clients access to futures, index options, cryptocurrencies, ETFs, mutual funds,
the sort of the idea is like you can trade whatever the fuck you want. It's your money.
That's fair. So, I mean, it's it seems like on the on the kind of the crypto trading side,
like your biggest competitor would be more more of like a Coinbase now.
Yeah. So the thing with crypto for us is crypto opens up doors for our international clients. So in
many of the countries that we trade in or we allow trading in, we are the only no commission option.
But that comes up there. The problem becomes like if you're in the UK and you want to deposit pounds,
it could take some time and then you could you could be charged an expensive transition fee.
So with Bitcoin and Ethereum, it makes it so that clients can deposit crypto, crypto, you know,
settles instantly and is 24 seven. So they can deposit crypto, switch it to USD and then trade US stocks.
So that's sort of our crypto angle. And then over the course of the next couple of months,
you know, we will be adding roughly 20 more coins. It really depends on how what the SEC decides to
mandate as security or not. But over the next couple of months, we will be adding some more coins.
And that will also increase this. We're hoping, you know, you'll be able to trade the crypto because
we think that people should be able to do what they want with their money. But you will also be
able to get access to, you know, what crypto provides like instant bankroll and instant settlement.
What's the main marketing plan to get this, let's say, to a million users? What have you
guys been thinking about on the back? So that's a really good question. We do a
lot of thinking when it comes to that. You know, last year, we grew our customer base by 583%,
like 583.4%. And the way that we did that was with a very, very lucrative influencer marketing
plan. So we would sign influencers, and those influencers would be paid per client that they
brought in alongside our deposit bonus, which we think is fairly like it's pretty up there.
There are not a lot of people offering a similar size deposit bonus to Aries.
And that return to client that we could, that return basically on average, so over 70% of the
time that return to client, that would be a quality client, a quality client to us as a client that's
making more than $1,000 a year in revenue for Aries. So we are looking for ways to expand on that.
And one of the ways is by the free tools. So if we can build, you know, 40 or 50 of these free tools,
and we can, you know, start different websites, and people can build tools with our API,
the idea is that you will only be able to access delayed data if you don't have an Aries account.
And if you do have an Aries account, you will be able to access the real time data for free.
So that pushes users to open an Aries account. And we saw a huge boost in user count over the last
couple of months with our private API and our private integrations. So that's one way. Another
way is a refer a friend program, very similar to like refer a friend and get a couple free stocks.
You know, a third way is we've done zero digital advertising, we've done zero SEO work, we've done
zero sort of traditional marketing. So, you know, that's an avenue that we will definitely explore.
And the last way, which is a way that I think is the most interesting, is if I can,
if we can prove that the platform can scale from being like a Robin Hood type platform to
something that's like a thinkerswim, and you can do it all on the same platform,
and someone goes from being very, you know, sort of novice to being more advanced,
then we've created a tool that can make more sophisticated investors. And the truth of the
matter is, all we would have to do is market that, because that doesn't exist today.
And if we can get that message out to people and say, hey, look, you know, you might have a
Robin Hood account and an E-Trade account and a thinkerswim account, here's areas where you can
open three different accounts, three margin accounts in the same place. You can trade with
a line graph on your phone, and you can trade with six screens on your computer. And you know,
why are you paying for these tools? They're free. The truth is, I believe it is something that could
market itself, as long as you can make customers believe in the product, which is what we're trying
to do with the start engine and what we're building over the next couple of months.
But if you can make customers sort of product evangelists, then I do believe that with a
good enough referral program, our current customers will invite their friends. And if you apply a network
effect to that, right, like I believe that the 10,000 or so clients that we have today
could be 50,000 or 60,000 clients by the end of next year.
Awesome. Somebody asked us a good question. They said, obviously, of the free flow,
do you offer level two data? Yes, yes, we offer level two data on the browser application. And it's
coming to the mobile app with this revamp in a couple of weeks, or a couple of months, sorry.
There you go. So a nice place to get really all your data for free, right?
Yeah, it's a good spot for it. Okay, so we've got about 10, 12 minutes left here.
Had one or two other questions. Happy to take some more from Lucas, TJ, Bilo. Evil,
if anything does come up on your minds, feel free to throw a hand up. One thing which I found
interesting was, you know, obviously, there's a huge trading community here on Twitter, and you've
been a part of it, Retta. Do you, what has been the overall goal with the, you know, we got the
trade areas account up here now with Twitter. How have you utilized kind of your relationships
on Twitter beforehand? Has it been for feedback, recruiting? Have you guys wanted to do more
spaces? Kind of what's the goal there with your account here? Yeah. So look, we've been in the
background for quite a while. I think a lot of people don't really, I think a lot of people don't
understand maybe how actually connected we are in this space. We've been in the, in the finance,
in the retail financial space for about seven years, seven or eight years. We've built
software for many of your favorite tools, I'm willing to bet. And on top of that, we have also
built a retail trading data analytics platform that we scaled. And now we're building Airy. So
we've been here for quite a while. And maybe, you know, like, you know, we go to all the different
conferences and all the different events. And we are very interconnected. And because of that,
I think the number one thing that I want to do with the social medias is I really want to show you
guys. I want like, dude, it's bullshit that the average customer does not understand how clearing
works, how payment for order flow works, how it is to run a brokerage, what is happening with their
money. You know, this is something like why, why they're not getting direct market access,
why the data on Aries is faster, why we're able to fill orders faster. That's what I want to do with
the Aries account and with our social media is a I want I want to also start posting some some
really like real time stock market news. That way, you know, it's a good conduit to bringing some
customers in. But B, I want to give you guys a look into what goes on behind the scenes and how
we're able to do what we do. Because there's a lot of what makes Aries special that is very technically
nuanced that people like like no one is going to understand if I sit there and I'm like, yeah, you
know, like our front end is built in Flutter. So you're getting the data. It comes up right on your
screen. And like this is a big difference because X, X and X, like it's very hard to explain that unless
you can see it. And what I'd like to do with the Twitter account and with the social medias is give
people like a very black and white like, hey, this is what you're getting on thinkorswim. This is the,
you know, you know, they're taking the data, they're putting it in a server, and then they're
giving it to you. And this is how at Aries, we're able to take the data and put it right on your
screen. And I think that if people can see that with their eyes and interact with that, that we
can really build around the customer. And even beyond that, I think our largest social platform
is our Discord. And I urge you guys, even if you don't want to reserve shares. So, you know,
there's been there's been a huge amount of you during this call that have reserved shares. So I'm not
sure how many of those shares are even left. But even if you don't want to reserve shares,
make an Aries account, deposit 500 bucks, you'll get $100, place an order, I guarantee you'll fall
in love with the direct market access, but then get in our Discord and talk to me and my development
team directly. Tell me, say, if you think something is shit, tell me, Reddit, this is shit, and I will
fix it. And that's the, I think the beauty of social media that's not tapped into yet is that very large
corporate companies don't talk to their customer. But with Aries, what I'd like to do is talk to my
customer and my, you know, actually, my customers are going to be my investors, talk to both my
customers and my and my investors on a daily basis at the exact same time, and try to get them exactly
what they want. Because the truth of the matter is, if you can do that, you're going to be a very,
very successful entrepreneur. And I really believe in that.
I love it. Yeah, TJ.
Thanks. So question. While I was playing around with the platform this weekend, one thing I did notice
for those, like, I was just wanting to look at, you know, the structure of your option chain and just
kind of look at the data. And I noticed because a trading trade station account, I guess the one that
was associated with it was not funded, the data just didn't pop up at all. Is that something that
you all are expecting to stay the same that or something that eventually, like, even if you don't
have a funded account, you can still like with TOS, even if your account isn't funded, paper money is
still 15 minutes delayed, you don't technically have to have a funded account to be able to practice on
the platform. Is that something you all are looking to change in the near future? Or is that just kind of
structure of the business? Yeah, that's a really good question. So I think the number one thing that
I want to stress here is a lot of the things that are not very up to date on Aries are not a fault of
the Aries development team, or there are more so of a fault of the of our relationship are very
integrated relationship with train station. And with this cash that we're raising, we are so we're in
the process of getting our own inner civic broker dealers license, you know, that will be done by the end of
this year. And we will no longer be pushing clients to a trade station application, it will be an Aries
application that's built very similar to our competitors, we will no longer be adhering to
trade stations, you know, sort of customer service and things like that, we will have our own customer
service team and our own sort of like, you can just text our teams, things like that. Besides all of
that, many of the things that are inside of the Aries app, like for example, you by the way, you can open,
you can go into simulated instead of clicking trade live, you can click trade simulated, and you will get 15
minutes delay data. But there are a couple nuanced things in our application that are all being changed. So I'm
hiring. In fact, if you are a developer, or you're you're working the back office of a brokerage, I please go to
trade areas.com forward slash careers, we have a lot of job openings up right now. And we are actively working
towards fixing all of these things, like we are actively working towards integrating with Apex and
TradeStation, and many of these other guys that you can see listed on my website. And a lot of the things
that we're talking about here today, like the like the application, the the application to open an
account, the funding options to open an account, the customer service, you know, not having a live chat,
even the options chain, the options chain is going to be so that you can switch it from, you know, the simple
view that we have to a really sophisticated actual, you know, think or swim type options chain, we're
building areas pro, which will be a downloadable desktop client, these are all things that are
happening in tandem. And the cash that we're raising is going to just help to accelerate these
things. So yes, many of the things that we're bound to today are a reason are our fault of TradeStation.
And with our FINRA civic broker dealers license here in a couple of months, we will finally be
regulatorily allowed to sort of tackle some of these things, especially when it comes to data and
the application.
One last quick question. I was in your discord as well over the weekend, and I saw where you all had
discord bots. Is that something that you all are also offering, you know, like, I can add that to
my discord if I wanted to, or is that something? Okay, and where would I find that to if I wanted to add
that discord bot to my discord? Where would I find that? Yeah, so if you're in that discord today,
you can just reach out to Saad or Keith, who are inside of it, inside of the discord as well,
you can also feel free to DM me on discord, and I'll get you set up. But yes, they're open source
bots that will, they will post your discord server options flow, they will post in your discord server,
you know, corporate actions, they will post, you know, politicians trades, things like that. And you can
customize them for your server. TJ, TJ, I'll, I'll reach out to you. Nice. Thank you so much.
Yeah, yeah, this is kind of a quick question. So just to kind of like level set, we're also
raising. So this is just more of my own curiosity. I'm wondering, and if you've covered this already,
I apologize, as I came late. I'm just wondering, like, how much are you raising? Have you raised
before? Kind of like, what's your what's your sort of fundraising outlook? Yeah. So first of all,
congratulations on starting a fundraising round. So with Aries, I want to preface this with
our headquarters in downtown Detroit. So I've been in Detroit, I've been a Detroit entrepreneur for
quite a long time. So many of the connections that I have come from the fact that I'm an entrepreneur
that has raised and sold companies in the past. And we are a VC backed company. The last year,
we did a small pre-seed round that I participated myself in, as well as some Detroit based venture
capitalists. And that was at a $10 million valuation. This year, our valuation is $25 million. And
the only people that are participating at the moment are going to be retail investors. That being said,
if we do not hit our goals, then we will bring in some VCs to sort of fill in the backlog. But at the
current moment, I genuinely believe that we will hit our goals. We are roughly, I believe there are
about 20% of the shares left. I know that I do believe that many people have signed up today just
because I'm seeing my team in Slack talk about it. But most of the entire round, the only people that
are getting in less than you guys are going to be the VCs from last year and myself. Everyone else
is purchasing at the same valuation. And you are getting stock. It's not a safe, you are not getting
an agreement for future equity. You're getting actual real tangible stock in the company that will be filed
with the SEC. And you will, you know, alongside that, you will receive annual reports and everything else that
goes into raising cash from the public.
Right. So can I just ask a quick follow up? Cause I think I definitely missed this, but I'm super
curious. So when you say that they're retail and you're raising from retail investors, are you raising
under reg CF or you mean accredited, but under like D or A?
Yeah, it's reg CF. So we're doing a reg CF round. So we, we have, we have a complete reg CF filing
that's, that's in place. And we, we, you know, we were exploring a reg D, but the truth of the matter
is like, okay. Um, I might get in trouble with my compliance team for saying this, but look, um,
I think that when I decided that we were going to raise on start engine or when I decided that we
were going to raise from, from the crowd, um, it did, it stopped making sense to me to even think
about VCs or accredited investors, because if you're going to say it's like, how hypocritical would
it be if I got up here and I said, we want to raise from the everyday person. And then it was only
open to accredited investors. Um, that doesn't really make too much sense to me. I think Aries is a
well-capitalized company. Um, you know, and we have been, uh, you know, we've been operating for
quite some time and there's no reason for us to raise cash except for to accelerate our current
business processes. And if you think of it like that, and then you, on top of that, say that you
want to raise money from the crowd, then they're like, then the follow-up question to that is why
would you want to let in? I mean, there are going to be some accredited investors that invest for sure,
but why would you want to let in only accredited investors or only VCs? Because the truth is,
if you're going to say, Hey, I'm going to raise money from the everyday person, then the majority
of those people that get rich that, that, you know, that might get rich or, or might, you know,
you know, see a larger turn on their cash should be the everyday person. And, uh, reg CF just made
the most sense for us. I think, I actually think that's super interesting. Um, I mean, I've, I've not
run into a lot of companies in the wild that are actually raising under CF. I mean, a few under D plus,
but I mean, I hope you'll come back and kind of update. I'm genuinely curious to see kind of how
that works out. Yeah. Um, I just, so you under, just so you know, um, we have over a million dollars
of committed capital if in the, through the reserve shares. Um, and we have over, so we were
actually doing 1.235 on, uh, on reg CF, which is the, the, the, the smaller limit because that's
just what made more sense for us. So we have just over a million bucks in reserve capital, um,
including the bonus shares that we're offering. And I just want to preface, I want to say this just
because I know, uh, that we're probably running short on time here. Uh, it's trade
areas.com forward slash invest today is the last day to reserve shares and get access to
both the first week bonus and the 10% bonus. If you're interested at all, you know, you
go in, you reserve some shares on trade areas.com forward slash invest. One of my representatives
will reach out to you. We're going to be live on July 14th and then, you know, they'll,
they'll take care of you guys will be able to take care of the rest and make sure you claim
that bonus. But yeah, um, we've been doing this for like roughly two weeks and I just
want to say like, we're already a direct to consumer company. So like we already had such
a large customer base that it may, it, it's a little bit easier for us to raise reg CF
than it is for, you know, somebody who might not have 10,000 clients or somebody who might
not have a really strong investor reputation or, you know, things like that. So I'm totally
not dogging VC here. I think VC makes a lot of sense to a lot of people. My last company
was VC. Um, and this company's areas has BC's involved, but I do think that if you're going
to go the reg CF round, that it's definitely the more difficult round, uh, it's definitely
the more difficult path, but it is, I think more fulfilling than VC. Like
Perfect. Okay. You were right. Reda, we're right up on time here. Appreciate you being conscious
of that. Huge. Thank you to those in the audience today. Glad you're so many are signing
up. I recommend for everybody, again, just take one or two trades on here and you'll
see what I'm looking at and why I use it personally for trading. I just get those much quicker
fills, just better overall experience. And again, if you use that link, that's in the
top of the space. If you put $500 in your account, you'll get a hundred dollars added
to it. Nice little bonus, 20% return right there. And then again, if you do pre-register
for the shares, you can get an additional 10% share as well. So a couple of bonuses circling
around today. Links are in the top of the space. If you can't find them, you can DM
me. A lot of you DM me questions throughout this. I tried to get to as many of them as
we could. Um, so definitely if you have more, you can hop right into the trade areas discord
or you can just DM Reda directly or the trade areas account. So they'll be looking at their
DMS. Reda, pleasure having you on again. Any final comments for the audience today before
close this one? I really appreciate all the questions in here, everyone. And, uh, I, you
know, I, I urge you guys to follow on and join us in the discord and ask as many questions
as you guys can over the next couple of weeks. Uh, if anything at all sounded interesting,
like I said, uh, you know, you can go ahead and reserve your shares on trade areas.com forward
slash invest. And, uh, you can even book a call with me directly if you have some more questions
and I'm, I'm really excited to sort of, I'm really excited that the reaction to this has
been so great because I do think that this is something that will work out and work out
in the favor for a retail investors. Perfect. Thank you, Reda, for being on. Appreciate TJ,
Evil, Lucas, and Bilo for joining us. Shout out Stock Market News for coasting all morning.
We'll be back on spaces at 3 PM Eastern with our stock picks for the week. So take a look
at that. Stock Market does close in 27 minutes. So if you are in any trades, just be aware that
it's an early day for the market and we'll see you all in just a few hours on the next
base. Take care, everybody. Enjoy the rest of your Monday and a happy early fourth. Have
a good one.
