Hey hey hey, what's going on? Welcome back to another episode of The Mad Core show where we're here to talk about stocks, crypto, trading, the economy, breaking news, and pretty much anything else I Find on the internet and feel like sharing with you that particular day I Have a pretty explosive episode in store for you today. We're going to be getting into how the Kremlin in Russia was allegedly attacked. Then we're going to be talking about how a billionaire is getting his ass completely handed to him in the stock market. and then we're going to be doing an Fomc recap including what the chairman of the FED Jerome Powell had to say in the press conference afterwards.

So obviously buckle up, smash the like button and let's ride foreign ly before we get into the meat of the video. I Wanted to go over a couple side stories that maybe you missed today, but I still thought were of interest and wanted to share with all of you. Snoop Dogg and Ryan Reynolds are currently in a bidding war for the NHL team. Ottawa Senators Now if I'm being honest I don't really follow the NHL In fact, I didn't even know that the senators were up for sale.

but it is interesting to see two world-renowned celebrities that are currently battling it out at least financially to be the owner of this team. The deposition of JP Morgan CEO Jamie Dimon and the Jeffrey Epstein lawsuit is now officially set for late May. I Don't know about you, but I find the media whipsaw currently surrounding Jamie Diamond to be a bit crazy. One day everyone's applauding him because he's saving First Republic Bank and then the next day he's being associated with one of the most heinous people in recent history.

I Guess here's to hoping that the truth actually makes it out to the public opposed to another person just randomly disappearing. Speaking of banks failing, here's a fun one for you. In the last 90 days, 18 different politicians have sold 6.8 million dollars worth of financial stocks including Josh Gottenheimer who sold Svb on March 9th saving himself 99, Lois Frankel Who Sold FRC on March 26, saving herself 95 and Daniel Goldman who sold Pac-w on March 17th saving himself 75 Now I know what you're thinking, but the answer is no, they were not insider trading. they're just really good at making calls related to the stock market.

I Guess even though they should be spending their time making this country better for all of us, but they're trading very very well and they're not using Insider information. And finally, here's a wild one for you. This is the most bearish the S P 500 future shorts have been in the past 12 years. I'm sure it's nothing.

Don't worry about it at all. Now with that out of the way, let's switch up gears and talk about Ukraine Russia the alleged attack on the Kremlin that came in the wee hours of the morning Russia says Ukraine tried to attack the Kremlin with drones in a move to Target President Vladimir Putin alleges a Terry attack underscoring its right to respond. Here's a video of the Kremlin in the top of your screen above the flag. You'll see the Drone right there and then boom.

Right after that, it was reported that the Kremlin says it was attacked by two drones last night Putin is safe. We consider it a planetary attack. We consider it an attempt on Putin's life. The Kremlin Then followed up by stating Putin wasn't in Kremlin at the time of the Drone attack.

Not long after that, Ukraine responded by saying not using resources to attack foreign territories don't have information on Kremlin Drone attack says it uses resources to free occupied territories I Wanted to take a moment to mention that As the day continued, it became pretty evident that we didn't have all of the facts related to this story and a lot of people started to bring up that this could very well be a false flag attack. On that note: I Want to talk about a different attack the attack of Hindenburg research on billionaire Carl Icahn who's now down many, many billions. So in case you missed yesterday's update video, Hindenburg research dropped this report icon Enterprises the corporate Raider throwing stones from his own Glass House Apparently the world thought that this report had quite a bit of validity because cause it caused Carl icon 10 billion dollars and Counting because as I'm filming this, the stock is down an additional 20 Corporate activist Carl Icahn's Fortune tumbled more than 10 billion dollars Tuesday after short seller Hindenburg Research accused him of using a ponzi-like economic structure at his investment company Icon Enterprises LP which trades under the ticker IEP fell by 20 the most on record a racing 3.1 billion from his fortune. But wait, it doesn't stop there.

Hiddenberg also detailed the investors margin loan collateralized by his stake in the company, which was not previously accounted for by the Bloomberg Billionaires Index that lopped off another 7.3 billion from the net worth calculation. All told, Icon's Fortune sank by an unprecedented 41 to 14.6 billion according to the wealth index, dropping him from the world's 58th richest person to the 119th. What can I say thoughts and prayers I Hate when you only get down to your last few billion I don't even know how you would survive. So for those of you who want to really know what's going on and why he's getting his ass handed to him, this is what you need to know.

Icon has boosted his Holdings in IEP by taking dividends in the form of additional units while other unit holders receive their dividends in cash, making the company attractive to retail investors. Basically because it has a massive dividend payment, Icon began reporting a margin loan collateralized by a stake in the company beginning in 2021 at a time when he had about 65 percent of his shares pledged as a quick refresher. And I'm not saying that you need it. Margin loans involve lending that's collateralized by the value of the underlying shares.

In this case, it would be shares of IEP the value of the stock Decline Lenders can request additional collateral or for the loan to be repaid and have the ability to seize and sell the shares if a borrower fails to do so. Obviously, by that definition, it means that if things start to go south, it could go even more south. He boosted the numbers of shares pledged last year and as of February had more than 100 181 million shares worth 9.2 billion back in the loan according to the company's 2022 annual report. In an effort to be unbiased, I Do want to let you know what Mr Icon and the team has said in response to this current debacle, Mr Icon had advised that he and his Affiliates have sufficient additional assets to satisfy any obligations pursued to these loans without recourse to the depository units.

He has no need or intention to allow foreclosure on such collateral and that he is current on all principal and interest payments with respect to the loans. He didn't stop there though he also included this. We believe that self-serving short interest report published by Hindenburg Research today was intended to solely generate profits on Hindenburg's short position at the expense of Iep's long-term unit holders. We Stand By our public disclosures and we believe that Iep's performance will speak for itself over the long term, as it always has.

Obviously, in this situation, someone's telling the truth then someone else is Fibbon and it's our job to figure out who has a stronger case. and in my humble opinion, this is not. Financial Advice: I'm not telling you what to do whatsoever I Do believe that Hindenburg research has a stronger point to be made. My reasoning for that is pretty much threefold.

Number One: When I went through the research report I feel that they made a good point to highlight how some of the assets on the books of IEP do seem to be inflated trading at quite a premium or at least an alleged premium. Number two: I do find it pretty susque that they were expected to have their earnings call this Friday May the 5th and they ended up kicking the can down the road to next week on the 10th and the fact that they had to switch it at the last second, it tells me that they might potentially be worried about something. And number three, when there's blood in the water, the Sharks typically start circling and I think that this particular shark attack will be led by Bill Ackman For those of you who don't know, Phil Ackman and Carl Icahn have a pretty checkered pass and it really started over a decade ago with this whole Herbalife deal and in that particular battle, Akman ended up losing two icon. So I think he's looking for an opportunity to not only recoup some of that money, but more of just a Bravado kind of ego type of the situation.

I think he's looking for a way that he can publicly humiliate Icon I Really don't think that this theory is that far-fetched because as soon as the short report came out, this is what Bill Ackman had to say. There is a karmic quality to this short report that reinforces the notion of a circle of life and death. As such, it is a must read. so evidently it's on his radar and I'd be willing to bet that he's attempting to punish Icon.

Moving on, let's talk about why the market vomited today. Let's talk about the Fomc result. Let's talk about how Fed Pal said everything we all thought he was gonna say and yet everyone still acted surprised. Here's the quick tldr of the situation: The FED decided to raise rates by 25 bips.

As expected, policy statement softens the rate guidance in a way consistent with past pauses deletes reference to some additional policy firming may be appropriate, and it was also a unanimous decision. The major change to the Fed's wording was in the middle of their statement. Previously it stated the committee anticipates that some additional policy from firming may be appropriate, and now it says in determining the extent to which additional policy, firming may be appropriate. So instead of being that hawkish as they were before, it seems they're like they're lightening up a little bit.

And this is a pretty important change because as Nick Tamaros pointed out, the Fomc statement used language broadly similar to how officials concluded their interest rate increases in 2006 with no explicit promise of a pause by retaining a bias to Titan. So basically, it sounds like there's a pretty good chance of us being dunzo with the rate hikes. It does seem as if there's a greater odds now of us just kind of going flat for a little bit, and maybe just maybe there's a chance of rate cuts at the end of this year. But if you ask me personally, I think we're a little bit too far away from that to really make any solid conjecture.

So now you might be a little bit confused, thinking to yourself, well, why did we fall so much? Why was there such a bearish reaction in the market after the news was digested? And it's basically because the FED is still keeping the interest rates all the way up in of five percent. As in, they're still fighting inflation. We still have a banking debacle going on. We're still seeing a little bit of weakness in Commodities The situation is not all Rosy and great.

There's still clearly a little bit of pain to be had in the market, and that's what happens when you put so much easy money, so much crazy fake money out of the thin air into the system. Eventually, you have to pay the bill for the party and we're still doing the whole party cleanup right now in real time. It also doesn't help that every pundits on TV saying we're definitely going towards a recession. Now to be fair, none of them are saying that yeah, we're definitively having a horrific, awful, life-ending recession.

They're basically just saying we're going to a mild recession and as they say that r word over and over and over again, it's fair to assume that that might be freaking a couple people out if you were to ask me right now. I Do believe that the overall economy and the market is going to be in for a rough patch maybe till we get to the closer to the end of this year, but by the time we get to September October I'm actually personally thinking that that might be a good time to buy the dip now I'll be obviously I Reserved the right to change my opinion as new information comes in, but as things are currently developing I don't think we're having much pain for much longer I Think we have to take a couple more doses of medicine, but I do see a light at the end of the tunnel. Now for those of you who want to know what to pay attention to in the extreme short term, do not forget after the market closes tomorrow Thursday May 4th Apple will be reporting and obviously as the biggest stock trading in the entire U.S stock market, we should probably be paying attention to it. And also don't forget that Friday morning an hour before the Market opens, we will be getting the unemployment report, a massive economic report that clearly can cause the market to pop upwards or even fall further.

So please pay attention to those two events. By the time that the closing bell went Diggity Ding ding ding today, the S P 500 was down point seven percent. Which means we're essentially at yesterday's low for tomorrow. If this does not hold, I will then be watching the 406 or the high 405 region.

and if that doesn't hold, I'll be watching closer to 401 and some change. maybe 402. However, if support is found somewhere and we start to bounce and turn back around, then I'll be looking closer to 410. And then that will be followed by the upside: Gap fill at 4 15, 27.

I Also want to let you know that on a seasonal standpoint, tomorrow does favor the Bears. Over the past 25 years worth of data, tomorrow has been won by the Bulls just 44 of the time as in a little bit less than flipping a coin. However, the profit factor is around 0.48 which means that every dollar spent in the Bullish Direction has only returned a dollar 48 and thus the equity curve kind of just looks like it's dropping, dropping, dropping. Clearly, the seasonal buys for tomorrow is bearish.

Not slightly bearish, but not extremely bearish. just normal run-of-the-mill bearish. I Wish you the best of luck I Hope you crush it in the market tomorrow and for the remainder of the week I Hope you enjoyed the video. Don't forget to hit the like button.

Don't forget to subscribe I'll catch you in the next one. Have a beautiful day.