Oh brother oh brother oh brother. Good morning, Good morning, good morning the gooni community. It is a beautiful, beautiful Wednesday At least it's nice weather where I am I Hope it's nice weather where you are, but today is Wednesday Wednesday November 15th aka the second of three inflation days going down this week. Yesterday we got the CPI report.

The Consumer Price Index report came in below expectations and the market rippity skippity dood up to the upside this morning. this is why we're starting early in about 8 minutes. We are going to get the PPI report, the producer price index, and on top of that, retail sales. And if you're looking at pre-market trading right now now, things are continuing to look pretty good.

Pretty bullish, pretty green. It feels like the old Ston Market is going in the absolute Hulk mode. And just so you know, there's a little bit of a continuation of the inflation discussion later this week Friday way before the Market opens 5:00 a.m. ET We get this CPI report out of the Eurozone region just so everyone knows.

but that's why we're starting early. So if you made it to class on time, congratulations to you because you're not going to be receiving a demerit. But please take note of who's in here before and after 8:30 because if you're noticing that people are sneaking into class, sneaking into this lecture post 8:30 feel free to give them a demerit, Feel free to call them out, Call out their entire family, call their work, and let them know that they've received a demerit because there's certain things in this world that you just have to take a stand against. and anyone being late to this class obviously obviously going to be be getting a demerit because we have to stand up against that tardiness that it's It's just unacceptable when it comes to the MATC show.

So um PPI coming out. Uh, we have about 7 Minutes 6 minutes so that's coming out as long as well as retail sales. On top of that, we have some updates related to the government shutdown. The potential government shutdown.

So talking about the most recent developments with what's going on in the house: what's going on with the Senate We have some updates related to the president of the US Joe Biden the president of China Xiin Ping that's going down. They're actually meeting tomorrow, but we have some other updates to talk about it. We have some earnings Target coming out TJ Maxx Tomorrow we have baba. we have Walmart We have some seasonality to discuss from Miss Secret here.

Secret. Um, we got a bit. We got a big secret. Uh, seasonality for today.

Crazy bullish. crazy crazy crazy bullish. Uh so just want to throw that out there to all of you. Uh so little little bit of inside baseball if you will.

So we have all that to talk about. And on more of a personal note, my my mind is about negative. 5% focus on this show today now I know you guys come to me and you're like Matt when you're here we we love at least about 20% focus on the show cuz we know your mind is off doing other things being the best Shader on this side of the Mississippi So what's with the differential? Why do you usually give us 20% of your mental efforts and then today you're giving us -5 and the answer to that is my sweet little baby jungle cat is going in for her first surgery right now. So she was just dropped off at the vet this morning and I I don't know like I I was watching all these videos of little Jungle Cats recovering from their surgeries and they they flop around and they stick their tongue out and at first uh I thought it was was funny.

but now being the proud owner and father of a crazy little jungle cat, um I found it to be a little bit more heartbreaking than anything else. So uh, what, what's wrong with Piper She's getting, uh, neutered, so technically nothing's wrong with her. Uh, she's just a a female cat. so unless you want to call that a problem and then that, that might cause um, some some fights in here.

Uh, so she's going in for a very normal I suppose run-of-the-mill surgery. Uh, but dude. dude, no, she's not being declawed. She's getting spay.

and uh dude, they give you this giant window and this is probably more of specific to like the vet I'm going to but I just she's dropped off. She was dropped off at 8:00 a.m. and they're like yeah, like you could pick her up anytime between like maybe two, maybe five. We'll give you a call I'm like What's with like the window like I'm kind of confused about the efficiency of this place and how they choose to like order things throughout the day.

like is it just kind of a half Hazard they're just doing it when they're doing it. um I I don't know man. I'm I'm a little confused that they're not like hey, get her here by like this time we're setting up the surgery. they did like blood testing and whatnot.

The surgery usually takes this long you can pick her up, keep her warm, keep her comfortable, we'll get her home it. Large, large window to like when this is all going down which I think adds to my own like anticipation of the situation. So we'll we'll see, We'll see, we'll see. but that is why I Basically have Nega five% attention on what's going down today.

Just want to let everyone know that we'll just be frank and straightforward with all of you. now. obviously we're starting early 2 minutes away. we're going to get the PPI report I'll go over what to expect.

Uh, but but before we all do that, obviously show a bit of love to one of today's stream sponsors. One of them is Streaty. You've heard me talk about them before. Pin to the top of chat in the description of the video and in the description of the video.

we have a second new sponsor. Uh, the we'll We'll talk about them in a second, but an MTA trading service. So they're more of like swing trading looking at earnings playing earnings drift and that is the head. Trader Over there is Nathan Bear.

So something to check out. They have cool newsletters they actually offer quite a bit, so uh, more on them a little bit later. But shout out to the two partners of today's stream. we have Streety and we have MTA.

So uh, once again, two days in a row and we have a second new sponsor. And actually we have a third one coming down the pipeline that you might be hearing about as early as tomorrow. So on that particular note, let's talk about it. Let's talk about it yesterday.

Why did the market rip? Well, it's because the most recent inflation rating reading excuse me came in below expectations. a little bit cooler. So these numbers mean that we're still inflating at a painful rate. We're just not inflating at the same acceleration.

So please understand that everything's still getting more expensive. It's just not increasing at the rate that it was before. That's the best way to interpret these numbers. And then, uh, obviously coming out very soon.

We get retail sales. Um, and they're expecting a drop of3 and PPI month over month, they're expecting an increase of 0.1 So let's see how those numbers come come out. Stock futures tick higher after the S&P 500 and NASDAQ post best day since April So the market just ripping ripping ripping. Uh, and I know many of you guys are particularly excited about that.

In fact, things are looking so good. With yesterday's report, mortgage demand climbs to the highest level in five weeks after interest rates move lower. and this also prompted yields to drop quite a bit. Yesterday this morning, they're up slightly, but big drop in yields yesterday.

And also, if yields are dropping, that means bonds are going up to year treasury yield Rises as investors await more inflation data. So that's kind of the prep work for today and we are about to get these. Let me make sure the sound and everything's on. And just for those of you who want to know exactly where we're at, the line in the S is 45088 so we're just below 451.

That's how we're starting today off and we are getting this report in about 30 seconds. Now, my question for you is not necessarily: Do you think the information is going to be hot or cold. Do you think the Market's about to explode to the upside? Or do you think it's about to get knocked? Are you Are you thumbs up as the Market's going up? or are you thumbs down as the Market's going down? Obviously, the Market's been on quite the tear and we've gotten legitimately good data as it relates to monetary policy. But then you could start to bring up.

well, what about like mean reversion like when you rip so far in one way. But we're about to know we're about to know. And first movement, rip a dollar to the upside, ripping a dollar to the upside and does it have more? Does it have more in it? So we had retail and we're going to get wholesale Now from Rick Santelli Who's at the Rick The numbers please. Yes.

On the PPI for the month of October expecting up one10 buckle up down half of 1% down 510 of a percent. That is a huge drop. You have to go way back to April of 2020 to find a smaller month over month change. and that one happened to been minus 1.2 They expected increase of and it Dr that's a Bur signant burner brother.

X Food energy. Half of what we were expecting year-over-year numbers now. Final demand: 1.38 A huge drop from 2.2 1.3 Uh, that is the lowest level going back to dude. this is another bullish report was 1.1 and if we look, this is another bullish dollar dropping Yi most likely dropping bonds going up looking St Have to be going back all the way to January of 2021 to find a lower number.

Finally, ex: Food En 2.9 That is the only metric. The only metric that's higher than we're expecting. We're expecting 2.8 and 2.8 was in the rear viiew mirror. We had several 2.9s We had them in July and August So x uh, Food, energy and trade is a little stickier than expected.

All the other numbers are cooler than expected. Let's look at Empire Three is now 9.1 9.1 That's the best level going back I Wonder why it's getting a little hit right here? ail I Mean nice Pop I Understand that I'm surprised that it's not. Maybe we've just already gone so far. Maybe some aspects of it are a little bit more sticky than the market.

Overall: 710 to up 910 if you strip out Autos it's up one10 so we could see that course affected the equation a bit and stripping them out turns it up two10 into a POS 11. It might be because the core is a little bit more sticky and we talked about that with the CPI. So taking out food and Energy Services and Sh up one10, the control group is up 2/10 exactly as expected. That follows a rision unang to all the revisions revisions.

We see that interest rates aren't moving much as a matter of fact. uh, we are now a couple of uh uh uh, 30 second higher. Uh, we look at the Futures If we look at what's going on 448, we're at 446 on the cash Market 487 on twos. they were at 484.

So what's going on? Well I think that part of this is yesterday. We probably had a bit of an overreaction to CP Could just be the classic re version like this still does fa number the but it just might just be so extreme. Relative to yesterday billion notes, they received 93 billion worth of bids. 13 times more bids than the amount of Securities for sale.

That is unreal and it really does underscore. That central banks were very punishing the notion that they're done well. it's it's a big party out there now. Whether this holds true, we're still a bit of a ways from our 2% Target and PPI cooler numbers didn't really Garner A lot of Market activity like like CPI uh.

The other thing we want to point to is is that are we going to ever pay more attention again to supply or to term premiums? They didn't go away. We've just changed our Focus You always trade the market ahead of you, but that certainly doesn't mean that there aren't issues ahead. especially issues when how governments around the world are trying to control more of their economies that should affect productivity. But at least for the moment, look at this recovery.

Ever since struck Aord not only with our Central Bankers but also investors interpreting those as very positive signs. go back to you all right? Rick Very good. Let's get to Steve Lean He joins us seeing um Steve kind of a muted reaction. did we get it all yesterday from the CPI which makes this was was this not surprising? Still seem like some of those numbers were surprising.

I I think so Joe um I'm I think we got a lot of reaction yesterday, but I'm actually a little more excited about this number in part because there are pieces of this uh PPI that feed into the Fed's Pce, which is their preferred indicator. So to the extent that some of those indicators inside it were low, it's also going to help the FED uh uh, believe in the down decline in inflation. We've seen times when it's gone the other way. In fact, the PPI report has garnered a lot more attention these days because of what feeds into the Fed's preferred inflation indicator.

and so these are good numbers. I'd point out that a big part of the decline here was the trade component, which is a profit component. They try to a margin component they try to estimate from uh, wholesalers. Uh, so that that's a piece that feeds into it in terms of what's what's going on with the Fed's Pce on retail? Uh, it's a good question now whether or not we've taken a break here after that strong strong number we had in September I was surprised it was not revised lower.

Um, or is this just the beginning of the Slowdown that we've waited for from the consumer? Uh, are they taking a break before the holidays or does this augur poorly for the holidays? We're just going to have to watch that watch. The High Frequency data and other data we have. but you know in terms of uh uh components Furniture was down 2% Autos were down 1% We'll just have to wait and see whether or not this is the PPI report came in strongly favoring the Bulls, but you could argue that retail sales still a little bit stronger than kind of favoring you might be in a situation where they're kind muting each other out sticker shock from the nine when we hit that high of 9% Things still, when it went when price went up 9% they're still there. except they're a little bit higher than than 9% Because there's been six, five, four, three there, there's been all those additional smaller increases forget.

So mean I'm still shock whenever I go to the supermarket I'm still shocked at at a lot of and they're They're there to stay and we're not going. We're never going to deflate. Are we ever I'm shocked at how little they appear to be paying you Joe that you're shocked by what you see at the shopping market, at the At At at the grocery store? Tell me about it. I I've been dealing with that for for for 30 years.

How little it but? I'm gonna give Casey I'm going to give Casey a call after this discussion that you really listen. Here's let me let me. Yeah, let me no. I think you got a pretty good Agent Joe Let me let me tell you what the debate is here.

Okay, if you want people to feel better, what you would attack is the price level, not the rate of change. You'd want to go back to where you were I don't know how far back to win. My dad told me he would get a pastrami sandwich and take the subway for a nickel. that remember he used to tell you that but but um, if you want policy, Fed is aiming to change the rate they're looking for 2% inflation.

The problem is, why don't you attack the price level? Because if you bring down prices, you probably also bring down wages. Wages will go down with prices so you you got to be careful what you wish for. If you want to go back to the old time, say the pre pandemic era, you can bring the price level down, but you're probably also going to bring the wage level down right? It just happened so quick and and it's kind of out of the blue that we're we're a couple years ago and we're all still. You know, seeing what what things cost uh, versus what they cost three years ago for examp October Ppi deine is what do you want you Joe You want you want 30 You want 30 an hour? 35 an hour? What is it that you're after? Um I want a What GM was what those Union guys were asking for I want a 40% increase and A and and a 4 day work work week 4.

he? uh, close. Let me give you a quick breakdown of what's Happening of where. Why? Maybe this isn't going the exact way. So the initial rip to the upside like right on that announcement is more so related to the fact that the PPI numbers the producer price index.

How much things have increased month over month in year over- year. To be a producer that came in lower than expected, that's a good sign. That's a bullish sign That's a doish sign. That means maybe inflation is finally like giving giving away a bit.

This is very, very similar to what we saw yesterday with the CPI report. the Consumer Price Index How much things are increasing month over month and year over year to be a consumer? So similari there. And that's what everyone reacted to at first and we saw that pop. Now the question is, why are we not ripping like yesterday? Well, I would argue that it's twofold.

First part is we got the retail sales number as well. We got that month over month. Year over year, we got it. X Autos Retail sales are still a little bit stronger than expected.

They expected it to drop by. 2% and only dropped by0 1. Also looking at x AOS they expected it to be remaining unchanged and it actually increased by 0.1 So we're still seeing strength in the consumer. We're still seeing people spending money and remember they're trying to dampen demand when I say there.

I'm talking about the Central bank I'm talking about the current stance of monetary policy. They want to see demand Wayne So that is kind of undoing what we saw. So if we have a bullish positive PPI report more of a negative bearish retail Sales report You Could argue they kind of cancel each other out a little bit. like that's not maybe the best way to think about it.

like oh, like. I'm not saying that they're the same strength of report, but just mentally of like kind of explaining what we're seeing a little bit here. So then you have to consider of like, okay, if they like one's a little good one, one's a little bad. Why? Why are we seemingly drifting down At least now what? 10 minutes after the report? Well, I think it's as basic as the fact that we've already ripped.

So much like mean reversion. like to keep the rocket going, you need to keep putting a some fuel into the engine, You need a catalyst. And right now we just don't have a beautiful like continuation in the Catalyst Now that's as of like this exact moment the Market opens momentum might carry us up. People might continue to like Fomo in like we're holding 450.

That's a key level. I'm just speaking on like literally from 8:30 to now. I'm not in any way like giving you an idea what we'll be playing out like for the rest of the day. CU Your guess is as good as mine.

My crystal ball is not working so I'm just trying to explain that. Okay, this initial reaction from 8:30 to 8:40 over the past 10 minutes to me, the fact that we don't have amazing PPI and amazing retail sales. one was pretty good PPI was pretty good retail sales not amazing. The fact that one was good one not so good.

Okay, kind of canceling each other out and then we look at well if we're drifting down a bit, just mean reversion. We've pushed up so much that we just don't like. As I said my my metaphor. my analogy.

We don't have new energy. We don't have new gas to put in the to the engine to keep the rocket going. That's as of now. Obviously, when we get into the trading day, it could just be pure price action.

We could get breakouts, we could get Fomo. You never know what's going to go in the options. Market You never know what updates we're going to get from the government on the shutdown. You never know what's going to happen with Biden and X XI Jingping.

You never know what's going to happen with a miriad of things. So I'm literally just speaking on like literally the last at this point 12 minutes of price action of what's going on and my interpretation of it as in what's coming up in the future? what's happening at Market open What's Happening Throughout the day, what's happening at Market Clos like I said, your guess is as good as mine. So on that note, let's try to jump into it and decipher it a little bit better. But the major thing I'm seeing right here is we just didn't have amazing numbers completely across the board.

we had some good numbers, some not so good numbers and then people are looking at the market and they might just be like hey, a game of hot potato. The people who are in a disgust in amount of profit with their calls this that the other thing uh, they might be like okay, cool time to take money. So remember, there's a big difference between being bearish and then also there being a lack of bullishness and it feels like we're in that latter category of people were bullish, taking some money, maybe prepping to take some money throughout the day, but that doesn't mean they're necessarily bearish. There's a big big difference between being less bullish and actually being bearish.

Uh, I hope that makes sense if that's a little bit more, uh, confusing I'm more than happy to try to explain myself a different way, but big difference between saying okay, I'm just not bullish anymore and then to actually go over and saying oh, I'm actually bearish right now. Big big difference. And I think when you start to delineate that in your mind I think most of the time you're going to spend in that neutral territory like is there good reason to be bullish? Good reason to be bearish. Most of the time, you're going to be in that neutral, idle thing waiting for something to happen to actually push you to the bullish side to push you to the bearish side.

And what I'm seeing right now is a lot of people over the past two weeks have been absurdly bullish, and now we're getting to the point, especially after that report that maybe they're starting to think okay, is it time to lock in some of those tendies so we could talk about that in more in one second. let me see what we have right here: I have way too many web pages open uh, stocks making the biggest pre-market moves Target TJ Maxx Serus XM Advanced Auto Parts They all had earnings so Target up almost 14% I Kind of want to dive into that cuz they I don't know if they did it this time, but in recent earnings they discussed how much is being stolen from them. So I'm curious how that's going to be TJ Maxx uh down 2.4% even though it beat on top and bottom line must have had weak guidance. uh Series XM up 8.6% uh Advanced Auto Parts down 1.8 JD E-commerce out of China uh jumped up 4% and I guess those are the main ones at as of this morning.

Obviously, these are all the things that we got. This red number opposite to what you would think is actually really positive. It's actually pretty bullish. and then, oddly enough, the green numbers are part of the reason why we're kind of going down right now.

So um, in terms of this inflation report, in the current state of monetary policy, you want to invert these colors to have a better idea of like what's pushing the market up and down. Red numbers actually good. green numbers are actually not so. Bueno UK infl Falls more than expected in October to 4.6% So it's not just here in the US uh, our friends, across the pond similar situation where inflation is coming down.

Once again, it's still going in the wrong direction. It's still the magnitude of it and the velocity is still not where it wants to be. But at least it's not going as fast in the wrong direction. So we're seeing that phenomena not only here in the US but also across the pond.

Here are all the earnings, so obviously targets up quite a bit. I Believe it said JD up uh TJ Maxx down even though it be Advanced Auto Parts down tomorrow before the Market opens, we hear from Alibaba Walmart Macy's after the market closes Ross and GAP uh, feel free to screenshot this or just go to at E Whispers if you're playing any of these earnings. On that note, um I'm not really the biggest earnings person more so ending up day trading. but I know some of you are going to be a little bit more interested in swing trading and that's actually the second sponsor of the day.

So I already talked about Street Beep. Obviously, shout out to Street Beep! We've been partnered with them for months. Uh, it's a robo advisor and they're utilizing Chat BT to create trading strategies and you can use Chat Gbt on Streetbeat to create your own trading strategies. Uh, it's free to download Apple App store Google Play Store Get the QR code and for the first month use the code Matt and that'll give you a free 30-day trial.

so test it out if you like it. Awesome! Use it if you don't No harm, no foul. It didn't cost you any money so any. Anyway, Street Beat pinned to the top of Chat in the description of the video I Have to admit, especially coming up in the election year, my favorite part of Street Beat is just watching what politicians are or aren't doing.

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No harm, no foul, free to download first month free use the code map I think it's on the very first page of the sign up Pinn to the top of chat in the description of the video or literally just go to the Apple app store Google Play Store uh and obviously shout out to Streetbeat for being a sponsor sponsor of today's stream. All right, Target shares jump after retailer post a big earnings be even as sales Fall Target Beat fiscal third quarter earnings and revenue expectations. The big box retailer still said it's seeing a weaker discretionary spending and deal hungry Shoppers The company said it expects the holiday quarter to look roughly the same with comparable sales in a range of around mid singled digigit decline. Did they talk anything about theft or stealing? Um, and in recently shuddered nine stores in major cities blaming the closures on theft and threats of violence.

Wow. Uh. Target Got blowback for collection of merchandise for Pride Month, a celebration of Lgbtq plus people in issues that has sold for more than a decade. It got hit by higher levels of organized retail crime and it recently shuttered nine stores in major cities blaming closures on theft and threats of violence.

Target says it will close nine stores in major cities citing violence and theft. T when did this come out this was in? September Dude, the whole stealing crime issue in the retail sector. it's it's insane. Uh, speaking of insanity, let's change it up a little bit.

Talk about what's going on in the government. House passes Bill to avoid government shutdown Senate To vote next week, the house passed a bill to fund the government through early next year. The bill needed support from both Republicans and Democrats a challenge in a deeply divided chamber. The Senate will take up the bill next where leaders on both sides have signaled support So Bit of positivity there.

The house approved the bill Tuesday yesterday that would avert a government shut down, sending the measure next to the Senate where it is expected to pass the quote. Unquote laded continuing resolution or CR will fund parts of the government until January 19th. So just understand we're not like a okay. okay, we're just once again kicking the can down the road by a couple of months and others on February 2nd.

Once it is approved by the Senate, the bill will go to President Joe Biden who has signaled he is open to signing it without a funding bill in place that has been passed by both Chambers and Signal by the signed by the president. The government will shut down at 1159 this Friday so we're making progress. Uh, Has it been completely averted all the way up to January 19th? Technically, no, but it sounds like if the Senate can get their act together, it'll go quickly to the President and he'll sign it. So we're still getting close to this Friday deadline.

It's Wednesday so we have all day. Wednesday Thursday Friday Seems like it should be okay. Something to pay attention to does seem as if it's breaking in the positive direction. which hey, that's a Ni thing to say because it seemingly rarely does when it comes to the US government situation.

Uh, what was this? The final tally was 336 in favor and 95 opposed, with 127 Republicans joining the 209 Democrats to pass the the bill. But the most surprising figure was how many Republicans broke with Party leaders and voted against it 93 versus just two Democrat Nays Interesting. So uh, not really as cohesive as maybe You' Imagine On The Go Side Uh on top of that house Speaker Mike Johnson endorses Trump defends stolen election claims house Speaker Mike Johnson endorsed former president Donald Trump for the 2024 Republican Presidential nomination I'm all in for president Trump I Expect he'll be our nominee and we have to make President Joe Biden a one-term president Trump had not officially endorsed Johnson when he became the Republican party's fourth nominee for speaker during a drawn out scramble to replace outed speaker. Kevin McCarthy Um, so this is what Speaker House the current House Speaker Mike Johnson had to say on the 2024 election President Biden he might he looks like the candidate in in 2024 when you were uh uh names speaking a lot of people said oh Trump Ally Trump big Trump guy big Trump Ally but uh you you as far as I know you have not endorsed the former president yet uh for 2024 and this is everybody's watching this show right now.

This if you're going to do that, this would be a great great time to do it. Mr Speaker You ready? I I Have done it Yeah I I Have I have endorsed him wholeheartedly? Um, look I was uh, one of the closest allies pres Trump had in Congress He had a phenomenal first term those first two years. As you all know, we brought about the greatest economic numbers in the history of the world, not just the country because his policies worked. and I'm I'm all in for president Trump I know I expect he'll be our nominee.

Yeah, and he's going to win it and we have to make Biden a one-term president. We have to do that. a one-term president speaker I have I have so many questions. but but coming off the back of that, just speak to it because I I think that there's a lot of Americans who look at the former Vice former president rather as uh, fundamentally divisive uh to the country they look at January 6th and the like and they they think to themselves even if you you like the policies that that that came about.

what It ultimately did to the country questions about democracy uh there was a story over the weekend in the New York Times talking about how he planned to approach immigration I know there's a lot of folks who who who want uh to be uh, harder on immigration no question but some real questions about how he thinks about that. um, some of the things that have come out in the last couple days about January 6 and his intent to stay in that position irrespective, uh of of what the actual uh, public and citizens were voting for and how you think about all those things. Listen: I I think when we're voting for president, it can't be about personalities. it's got to be about policies and principles.

and if you want Liberty opportunity and security for for more people in the country, if you had to vote right now I think I have an idea of which way Rumble is going to vote as we're listening to this. If you TR only options on the entire would have to pick the opposite of all those things no other options allow think those are the two. Assume those are the nominees. your safety, your, the economy, your pocketbook.

All of these things we have to make radical because the American people are hurting. hardworking families are struggling. We can't handle inflation. We can't handle these things.

These are the results of the Poli Trump Tucker Mar If he truly believed at that point presc that it had been stolen and that there was too much fraud, then I could see why. Why someone would say I hate I'm staying here. but is that what you assume because if he did know that he lost the election, you actually potentially more Interesting question. Uh, all right.

uh, seems there's definitely more Trump voters on Rumble and I actually think there's more Trump voters on YouTube as well. Um, here's an interesting question: How many of you voted for Biden last election and now for whatever reason you're going to vote? Trump How many of you are like actually going to switch? You're like, you know what? I tried that. Not my favorite dish, not my favorite restaurant. I'm going back to the other one.

Um, I'm curious. uh, the story or the thoughts or the reasoning of people who are switching or maybe vice versa. Maybe you voted for Trump in the last election you're actually going to go back to like Biden in this upcoming one I'm more. Curious Now about the people who are like switching in either direction, you did vote Trump You're going to vote Biden Or you did vote Biden And now you're going to vote Trump switching Jeremy which way are you switching? Um, me and I hate Trump Uh, nobody confused confessing to that mistake.

I think I've heard about people. they're like, dude, this is just trash now switching it up, switching Peter switching Jeremy I don't know which way they're switching Trump Oh, Peter's going from Biden to Trump so voted for Biden now voting for Trump Interesting switching to Trump We interesting. okay I I appreciate you guys sharing that. Let's finish this up that that's a dangerous precedent to to return someone to office that wasn't going to leave office even if he knew for a fact that he had l So I Guess you you would argue that that he really believed at that point and maybe he still believes that he won the election.

He says he he say he says it every every which way. I I I Take him at his word I Do believe that he believes that. Remember I was one of his lawyers I Worked on the impeachment defense team twice in the house uh to defend his positions and and I know how he thinks and he's convinced that because of all the irregularities and everything else that he was still entitled to that. I I Haven't read the piece that you guys are referring to because I've been a little busy the last couple of uh days, you said but I tell you yeah, Which is you said? you take him at his word would you? Would you agree with the idea that I think there's a lot of Americans that look at certain things that that he has said during his presidency before his presidency now uh, that are fundamentally, uh, not accurate and I I say that politely.

meaning that I mean there have been things that he has said where right now. by the way, it's sunny outside, but it's like he's saying it's raining and I think for a lot of Americans they look at that and they say that's very hard to trust. All right. I just started a poll so you have four options I How you voting Biden again Trump again Trump before Biden now or your other option is obviously uh Biden before Trump now so are you doubling up on the same or youing way I think that's a core conviction of his and when I say take him at his word on that AR But but I know that he has been absolutely consistent from day one and and uh, he does believe in the rule of law.

jar the US Supreme Court for example, ninja Trader and it's on the fut. Market We had, of course many judges throughout the system that he appointed and that's the longest lasting Legacy of any presid. You're talking about the rule. A good record on that.

You're talking about the rule of law and he's now been indicted uh, you know, on on 40 different Uh charges. It's there's such a ju toos be Bes behind the idea of rule of law and then things that he's done that may very well have broken the law and I recognize there's elements of it that may be political I don't I'm not even going to dismiss that, but I I'll stipulate with you that there there are elements that are probably true, that that are political, but not all of them. listen. I I Think this is Mo motivated by political prosecutions and and we call it lawfare.

That's what it is. It's just another way to go after a candidate. and what's happened to president Trump is unprecedented. Unprecedented and every time a new Uh indictment drops, it follows after some uh, favorable thing that he gets in the in the poll or or in election or whatever.

I mean everybody can see this with their own two eyes and I think the American people can evaluate that for what it is. You have these: District Attorneys and you have uh, you know the FBI and the Doj that have been weaponized against their political enemies I can't came off of the house Judiciary Committee I served there I've been in the hearings I've questioned attorney general Garland and and uh, Christopher Ray at the FBI there's a lot of abuses that have been allowed and we have to reform that. It's one of the things that Congress has to be involved in because we have oversight responsibility. So we're using the power of the Persse.

Here, we're using our oversight responsibility. We're going to use every tool in our Arsenal to make sure that we change the way Washington works and bring back people's faith in this institution. Because it's critically important to keep a constitutional republic. Critically important to keep a constitutional republic.

Probably a thing that many people don't even know what it is. Biden and g I economic and Military thaw in high stakes meeting military communication, export controls fentol top agenda US President says he wants to help China's struggling economy I Know this isn't true I Know this isn't true once again. I Know this is not true. but you guys know how my mind works.

Sometimes it runs off in la la land and I start thinking about crazy things and generally it's the most absurd situation that it just makes me crack up. It's it's nothing for your boy to. After a long day of trading, draw myself a hot bath, throw in some bubbles in there, crack a fresh box of high sea and let my mind run wild. and just yesterday day I thought about something that I thought would be funny and crazy and what if and once again for the 18th time I Know this is not true, but how funny would it be if Biden's demeanor and what he does and how he acts and what he says and just his overall life at this point? What if it's all an act? What if he's like, what if that's him like pulling on some like highlevel thespian skill and he's like I and Marba and it's all an act to get other political leaders to think of him as an absolute doist.

and then what if he walks into the room like as laser sharp focused as he possibly could be? like what if by the time he gets into the like, what if he's like a super aggressive dude like almost, um, what's it the other guys where he's like I thought you said bad cop bad cop like what if he walks into the room and just takes the president of China slams him up on the wall, he's like what's this F all I know it's not true, but how funny would that be if this was all just like a giant psychological Ploy and then in reality he's sharp and he's super aggressive and he's just like like trolling the dude calling him names, challenging him to a fight, like just beating the out of him I Know it's not true, but these are the types of things I think about in my bubble bath like I I just think it would be hilarious like what if like this was the breaking news years from now. like that there's like almost like secret like CCTV cameras of him like just being super super aggressive. it's just funny it it it makes me laugh I get you guys are saying it's not possible I know but imagine if it were like how funny that would be anyway. I Digress: US President Joe Biden and Chinese counterpart Xi Jinping carefully choreographed, much anticipated sit down on the sidelines of the Asia Pacific economic Corporation Summit kicks off Wednesday tomorrow tomorrow.

uh in. SF The Gathering among 16 Acres of Lush Autal Garden belies a heady agenda dude really. Within a couple words they got Automo Bize and he like every other word they they're like okay SAT Word we take a break SAT Word will take a break SAT Word We take a break. Who wrote this dude? They were literally just cracking open the thesaurus to get this paragraph written.

The Gathering among 16 Acres of Lush Automo Garden belies a heady agenda as the attempt to repair a relationship badly strained by economic competition and Military and diplomatic missteps. Frowny faces all around. So I'm going to. We don't have to go into this right now because we're going to get bigger updates on this tomorrow and probably good wrap-ups of it on.

Thursday I'm just putting it on your radar I Feel like I've been saying that a lot in the update videos recently? Uh, because it is important for this to be on your radar, so just want to let you know what's going on. They've already had some talks and whatnot and I'm sure they're having some clandestine back room late night meetings, but the big public thing happening tomorrow. so please everyone, pay attention to that. Five things to know before that: Stock Market Bell goes ding ding ding ding today Wednesday November 15th Cool Inflation hot Market Yesterday we got the CPI report coming in lower than expected.

That's good inflation cooling off a bit. that's blo. Market Ripped early this morning, we got the PPI report similar situation. The report came in lower than expected.

a bit cool. That's good. We also got retail sales slightly higher than expected and it seems like they kind of muted each other out. and people are like, okay, cool markets Rift a ton.

Maybe we should take some profits? At least that's what we're kind of seeing in pre-market trading. But understand, do pre-market trading really have anything to do with how the market actually goes throughout the day? About 50/50 50% of the the time it does. 50% of the time it doesn't so you're flipping a coin I Am not going to be judging how the day is going to go just from the pre-market action, especially when it's super low volume mortgage pulse. The fact that yesterday's Cc or excuse me CPI report came in lower than expected pretty much cemented the fact that the Federal Reserve is done hiking up the FED fund rate.

Now that the FED fund rate has hit what's referred to as its terminal rate as in its peak rate. In this current rate hike and cut cycle, the terminal rate the highest we're going to go. Most likely we've already achieved that, and because of that, the anticipation is that we're going to Coast for a bit most likely until about mid next year, and then starting mid next year is when they're going to start to cut the FED fund rate. Because of that, we're right away seeing a drop in yields.

I Mean, look at what happened to any of the yield yesterday, so yields, all dropping bonds, thus all going up. but with yield shopping on the anticipation that the FED fund rate has hit its terminal rate, we're also seeing a bit more life in the world of housing. Uh, so mortgages going up a little bit. San Francisco meet President Joe Biden President Xi Jinping Going down tomorrow target post big profit beat.

But as we covered, they did have to close nine stores. Uh, that was reported in late September early October because of the increase in theft and violence Core Business Apple gets a whopping 36% of Safari search volume from Google Oh what? I Didn't know that the arrangement between the two Tech Giants which gives Google default search engine status on Apple devices is at the center of the Justice Department's uh, antitrust AKA Monopoly case regarding the deal, but the subject came up in legal proceedings for a different case. Fortnite Makers Epic Games lawsuit against Google Seems like a lot of people are having lawsuits against Google if you're watching on Rumble right now Rumble has a lawsuit against Google Uh, so it seems like Google is maybe doing some things that they shouldn't obviously I'm no lawyer I don't speak legal e. But when you're pissing off companies like Rumble Fortnite, probably sometimes Apple and I'm sure there's a laundry list of companies that think what Google's doing is monopolistic.

Uh, maybe they're right. Maybe maybe maybe. maybe. uh.

so just something to maybe consider there. Uh, Mls.com you can get this newsletter for free. Also, M Locals.com is how you sign up for the Goon Discord If you want to actively trade with other Traders with myself private teachings, trading competitions, get this newsletter. It's all on Ma.

Locals.com and that's also where you're going to directly find the sign up for the Discord anyway in the newsletter that goes out every weekend I break down the previous week and explain what I'm looking forward to the upcoming week. I Give you all the major macroeconomic events for example, these were all the ones that went down this morning tomorrow. Nothing too special. on Friday we get the CP out of the Euro Zone We're pretty much at the end of earning season.

Tomorrow we're going to hear from Alibaba Walmart Macy's and then next week on Tuesday we hear from Nvidia and then after that, uh, earning season pretty much Dunzo in terms of seasonality. This is today Wednesday November 15th. Now this is how this individual day has performed. from Market open to Market Clos over the past 25 years.

as in if you bought at Market open sold at Market close on this individual day for the past 2 and 1 half decades, you would have been right 73% of the time, about 34 of the time and your profit Factor would have been 4.08 What does that mean Means for every dollar spent, you would have received $4 back. and this is for the S&P 500 futures. Market Just so everyone knows, so is this a guarantee that today is going to be green and bullish? No. I'm just informing you that the deck is clearly stacked in the favor of the bulls.

and this is a look at the equity curve curve. buying at open selling at Clos over the past 25 years, this is how you would have performed for tomorrow. Thursday It's leaning slightly bearish, but kind of neutral. So bearish neutral.

that's why I said leaning bearish. it's in between the two And then to conclude this week, it definitely does favor the Bears I Also give you an update on the Zero DTE signal. this is at the end of the week. kind of like a conclusionary note.

Um, but throughout the actual trading week as I take this trade I do put it in the Discord Uh, thus far in the week it is 4 for four and then all the charts. The one thing that I want to point out is how I called out in this and once again you could get this for free. Uh, the inverse Head and Shoulders shoulder head shoulder and I basically said uh Tesla has been getting beat up I'm noticing in inverse head and shoulders I think it's going to push to the upside. and for those of you who've maybe been missing out on what's going on with Tesla it's played out beautifully.

Looking for this upside gapl to 2428. So beautiful play out there and you could see the exact moment when I was even talking about it. Um, other things too Nvidia Meta Netflix These are all just the charts of Interest so make sure to check that out. Uh, other side news that I just thought was of Interest X formerly Twitter being overrun by trolls and lunatics after Musk takeover according to the Wikipedia founder.

Now it's particularly funny he's saying this and the reason it's really all happening is because Elon Musk the current owner of X AKA Twitter took shots at Wikipedia He's like, why do people donate? why does it need so much money like blah blah blah like all the data, all the text can be stored like easily on a phone like where's all this money go So basically Elon used his stance within the cultural Zeitgeist if you will uh to kind of get people to look a bit more into Wikipedia and what they saw in Wikipedia uh they weren't too too happy with because a lot of big questions of where's the money going. So now obviously the Wikipedia founder is hitting back against X and it might be surprising to you, but it's kind of falling on deaf ears. Wikipedia Founder Jimmy Whale slammed X forly known as Twitter after it's take over by Elon Musk Responding to a question about Musk's 44 billion acquisition of Twitter means that the social media landscape Wales responds. it's a huge problem Wills Commments come after Musk offered Wikkipedia 1 billion if it changes its name to Dickipedia.

Obviously they didn't take the money. Uh, which seems like the easiest money ever and you've had a a war of words with Elon Musk quite recently after his suggestion I have the volume max so my apologies, rude. Uh, what's your response to this I mean he's had a war Awards with me I just ignore him so I didn't really respond to that I mean he's a funny guy? Uh, but you know these are serious issues. Like you know, you have to take a billion dollars to call it Dickipedia.

How do you know that's like poor financial decision censorship we refer to asult editorial judgment which is a very different matter. Uh, so you know Elon will be Elon And and in terms of uh, when Elon Musk took over Twitter Now that felt like a a very big moment for for this landscape on social media. Um, in your view, you know what? What did that do? I think it's a little too soft? Uh, so we'll get the key I Didn't realize that the volume was that messed up. Uh I think a lot of people are fleeing Twitter A lot of thoughtful and serious people are fleeing Twitter Twitter was and now I guess X sort of is in a way.

the Public Square of the world and it's being overrun by trolls and lunatics. It's not good for any of us. Um, and this is all just I think because of the billion doll offer to call it Dickipedia instead of Wikipedia I Just don't understand how you don't take that money. I I Truly don't.

That seems like the easiest billion dollars ever. Who like? legitimately that's stupid to not take the money a billion dollars. And I think he only had to keep it up for like a week or something like that. It wasn't for the remainder of time, it was like a week or a year.

Whatever it is. I don't care. I would change it if if you offer me a billion dollars to rename this show instead of the Matt Cor show the Dickipedia show, it will be called the Dickipedia Show until the day I Die no questions asked. That's the easiest billion dollars ever.

And the fact that he just didn't take it? That's just stupid. That's absolutely stupid. Um, anyway, the how are you voting Trump Again 63% of you so uh, two out of three of you are voting for Trump Again, 177% of you. Almost one out of five of you are voting for Biden again Biden Before Trump Now 15% So really, the people voting for Trump in here in this upcoming election is almost 80% a hair under 80% but there is a small amount about one in 20 of you, 4% roughly 5% Uh, Trump Before Biden Now so a a 20th of you one in 20 of you did vote for Trump Now you're voting for Biden About a 20th of you or a fifth of you are voting for Biden again and the rest of you in one capacity or another are voting for Trump Interesting, interesting, interesting, interesting.

And that was just so you guys know that poll was exclusively if you had to pick Trump or Biden it wasn't considering people like RFK Haley DeSantis I I only just to be transparent here when people were voting on that. I Said you have to pick either Biden or Trump. Those are your only two options. There are no other options for you to choose.

Uh Ken Griffin We listened to a bit of a speech from him yesterday: Ken Griffin sees Miami possibly replacing New York City as a financial capital I Don't know if he really believes this I think he's just doing it because he's trying to move all of Citadel down to Miami for tax purposes. So I think he's just trying to really, really amp up how great Florida is. Uh, he's particularly against Chicago I mean Cadel's headquarters wasn't even ever in New York it was in Chicago and he might have a good point to bring up that. Oh no, like it kind of got like super dangerous.

Um, and there are parts of Chicago that are legitimately dangerous. and I'm not saying that New York is great on crime. I'm not saying Miami's great on crime. obviously all major Urban CI like have clear crime issues.

Um, so I don't know I I Thought it was interesting. Uh, I'm taking it with a grain of salt just because like he's going to be as favorable in his statements to Florida as he possibly can because he's moving the company there. But that aside I guess I Wanted to ask you guys your thoughts on it. do you think the allur of New York and just like what it I guess like symbolically stands for in all of our minds is being lost and other cities are going to actually end up like right now.

When you think of the US like the major cities, it's La it's New York That's how people think East Coast has New York West Coast has La those are the two cities where whatever. When you're growing up, you're like I'm going to live there. That's where I'm going and I mean it's been that way for Generations Now it's been that way for decades. But there's also no rule that could change that could legitimately change I See it a little bit on the financial space that more people are in one way or another relocating to Florida once once again, tax advantages.

but I'm also now even seeing it in the world of like content creators. There's obviously a lot of cont content creators in New York. but there's more and more content creators who are like I'm going to Miami Uh, New York City is still King but less so so I I Agree with that. New York City is definitely still King.

But my question is, do you think it'll remain to be the king in like a decade? The way we think of New York a decade ago. Do you think that's going to be completely lost? Same thing with LA there's a giant Exodus from LA are like are the new cities going to be Miami uh Florida and then Austin Texas there's a giant Exodus from people in California La San Francisco they seem to be going to Austin and there's a considerable Exodus Not as big of a scale as LA, but there's an exodus from New York as well. And I think a lot of people who are attracted to the jobs in those areas when you could get the same job in a new area they might be like, okay, whatever, it's cheaper, it's higher quality of life. it's less dangerous I think there's very fair things to consider.

Yep, it's changing Austin is definitely becoming the new La My is trying to move us too. excuse me Florida has been for a couple years now. interesting in a decade both we would like to escape. New York Movie Don't Sleep On Cincinnati Interesting La is going to die new.

Some made sure of that Florida Bless you thank you. Just wanted to get your thoughts I do appreciate it I do appreciate it uh I Want to talk about this later. This has to do with short sellers are now getting paid as SEC tipsters. Uh, so I wanted to just talk about that and get into it.

And then the other thing is, here's how much you can make in 2024 and still pay 0% capital gain. So the new rules according to CNBC and the Cfp. Uh on. uh just how much you can make and pay zero in capital gains.

Just wanted to quickly share this. Um, so a single filer up to 47k and then married following filing jointly up to 94k and that is obviously capital gains rate for 2024. Uh, and then for capital gains 2023, it's 44.6k so it looks like they increase it by $300 and then married filing jointly is 89k with the new number being 94. So that's increasing by four to 5,000 So hey uh, it is interesting and once again, these are for capital gains and this is going to be more on longer term Capital Games or not that gets specific I'm not a tax professional.

go talk to a tax professional. Shout out to Tax Network USA The newest sponsor yesterday, folks. check out yesterday's video. Uh, you get a free consultation call if you use my link there.

So tax Network USA They were the newest partner of the MK show. We talked about them yesterday, but anyway, uh, for most of us I Assume we're going to be in this mid ter mid tier territory I Don't think many of us in here are pulling in over half a million if you are. Congratulations to you. Uh, but yeah, 15% 47 to 500 20.

And then for this year it is uh, 15% for 44 to 492. So it's going up and that makes sense I Find it odd that it's not going up at the same rate as inflation. but hey, I guess that's just one person's uh, questions on it? Uh, definitely. definitely definitely definitely all right where we at.

Here's the: Spy Let me get the poll going because I need to do that degenerate marketing Uh Market Open Trade Start a poll. Uh Market Open Remember I am asking what the first minute will be from 9:30 to 931 I'm asking you that I'm not asking you for on your day I'm not asking you for your positions I am asking you the very first minute from 9:30 to 9:31 Do you think it's going up as in bullish as in green? or do you think it's going to be down as in red as in bearish from 9:30 to 9:31 What do you think the Market's going to do? because I have an account? I Basically just place the trades that you guys tell me to trade and I think you guys are on what a six day winning streak or a 7day winning streak? Which one is it? Are we going for seven today? or we going for eight today? I Kind of forget what it is I think we're going for seven I think I think we're going for seven. Uh, right now in pre-market here's a look at the situation if this helps you make any more form decisions. We have been trending down at first at 8:30 because of the PPI report.

We went up and then between retail sales and maybe some profit taking we are now going down. Uh, we're going for eight. We're going for eight. Okay, so you guys hit seven yesterday.

We're going for eight today on the funded account. You guys have actually been trading it so well that is now fully funded by uh I use Apex but feel free to use whatever you want. Uh, we're trending down right now team watching for a bounce off the gap of you think that's happening in the first minute. Remember my question for you is the very first minute Uh could be to the downside could be to the upside we do have this probably SPX Gap I guess I Want to turn it over and ask the rumble people too Rumble Rumble Rumble Rumble I'm seeing green Red Red Quick Red Green Red Red Red Green Green Red Green Orange okay green bull be there red Ah I it feels like rumble's a little.

well no both are kind of close to 5050. Rumble might be a bit more bearish Rumble might be a bit more bearish Matt wants us to pick Green Actually no I would prefer that you pick red uh I I think just I'm literally going off this momentum right now so not much of a hardcore thesis. Um, but I'm just going to do it you want I'm going to do whatever. the whatever percentage number is bigger.

your boy's going to do it So that's why I need you guys to vote because that's how I'm placing my trade right at open is I'm letting you guys do it I'm letting you guys do it. Speaking of Market Open. Uh, let me change out the pinned. Hang on.

Let me go. Let me go. Let me change this out. Uh, before I change it out right now, Pin to the top of Chat Streety.

It's the first link in the description. the video Robo Advisor: They use AI to create trading strategies. They have some pre-built ones you can build your own home. It's awesome.

They don't engage in payment for order flow I have my money on it myself and I love the strategies that are mimicking Congress just because their timing seems to be absolutely impeccable. Uh, so if you want to trade just the way our politicians do, check out Streetbeat. And with that being said, let me post in. not uh, the the newest partner of the MK show did it pin Can you guys now see the monument Traders Alliance Can you guys see that in chat or no? I Just want to make sure before I go into the Spiel Thumbs up.

You guys can see it. Thumbs up Thumbs up thumbs up I See LOL Pickle Okay, it did. Monument Traders Alliance Most of the time people are going to talk about it as uh being MTA So I Thought this was an interesting one when they reached out and I understood better what they do. So a lot of the times if you're coming to the show, most of my things are day trades Yes I have a long-term account but in terms of the content and everything I do uh I'll do swing trades but I discuss that kind of like in the Discord It's not so apparent here that I'm like oh, I'm getting in now and like, let's talk about it two weeks So if that's your lifestyle, if you're in a place where you're like, you know what I could tune in but like you're busy with a job with kids, that maybe you're not so actively day trading and you're looking for more of a swing trading type of a thing.

Uh, you might want to try check out MTA It is pinned to the top of chat. it's in the description of the video. You can see that they have a lot of freebies if you click on that right here. The top five mistakes new Traders make top five stocks under $25 The basic AF beginners guide to trading So one of the many people within this community his name is Nathan Bear and his strategy.

After kind of checking it out and talking with the team and understanding what they do and don't do it relates a lot more to earnings and really the beating or the missing on earnings. and then they kind of use their own metrics to identify if they think think it's going to keep drifting in that direction. So the most recent example I could think about is Netflix Not only did Netflix Crush its earnings nflx right on its earnings, this is kind of the play that they would be doing. It crushes earnings good and then they're looking for the metrics that tell you will it keep drifting to the upside.

So this would be a prime example. They're not necessarily getting in before earnings and they're waiting and they're like, okay, we think it's going to keep drifting. So this is the type of thing that they would play over the course of multi days. So if that's something that interests you, check out MTA uh like I said uh, their