Foreign. Why do people do this? I Came as close as you could physically come to yourself without yourself. The muscle group that got the best workout for me this morning was my finger I Am not saying I myself because I didn't myself, but it took every ounce of my physical control to not myself while hanging from the air and I'm walking through the parking lot. This is how I walk I'm just.

Well, there's two of us because it was with my completely real girlfriend, so it's kind of like foreign like we're walking. We're talking that kind of a vibe. Good morning, good morning, good morning it is. Tuesday June 27th I Hope you're having a fantastic one whether it's your morning, evening, afternoon night, whether you're watching this in real time or as a playback which I think it'd be a little strange to watch it as a playback.

regardless. I hope you're having a good one I hope you crushed it yesterday I hope you're ready to crush it again today and I hope you're prepped up to crush it for the remainder of the week. Lots of fun things to talk about. Yeah I Want to talk about the market of how I still believe the high water marks put in and we are trending down.

This morning, we were trending down and then the market popped on. Two different reports. one from our neighbors up north from Canada and then also from um, their CPI came in as expected and also we got a durable goods report way higher than expected so those came out. The Canada one is kind of interesting, but really I think a lot of people are going to be reacting to the new home sales coming out at 10 A.M today a half hour into the trading session.

so I want to talk about that? I Want to talk about what's currently going on on the global political scale as in Russia and the Wagner group and evgeny and is he alive? Is he dead? Is Poon alive? Is Poon dead? What's going on there and it's connection to oil? I Want to talk about how more and more banks are officially waving the light flag and saying yeah, no? We are definitely going to a little bit of a mild recession. I Have a big update on a stock ticker symbol. darling. If before the world of Sheba, before the world of AMC, before the world of Doge and before the world of Gme before apes and squeezing was a thing.

There's a special thing going down in 2020 when we were still all locked inside and it relates to the world of EVS specifically spax and I don't know how many of you were necessarily paying uh, attention at that point in time, but stocks like Workhorse Lordstown Motors Highly on. um, there's another one in there, but if it related, like even Neo Lucid Um, what else? If, like any EV related name was doing well and some of these facts were crushing it. Those were the Darlings of the time like I'm talking mid-2020 that summer when we were first all locked inside trying to figure out what's going on. Those stocks were ripping.

If you fast forward till now, not only have they been cratering, but now some of them are officially fire filing for bankruptcy. So as of this morning Lordstown Motors ticker symbol ride I believe it's in Ohio if I remember I mean it was some of my earliest content Nicola like it was all crazy back then. Uh but yeah, Dunzo dunzo Dunzo dunzo. So I want to talk about that? a retail stock darling dead murked throat slit Gonzo uh so I want to talk about that and I also want to talk about some concerning I guess signs that we're seeing from some of the early earnings.

We're not really in earning season yet, but we do have an update from Walgreens Not so good. but to be fair, there are other good ones. We're getting some initial looks at companies such as Delta the airline company and they're looking okay, so a little bit of a Max mixed bag then obviously I want to go over the seasonality for today and I also want to prep you up for what to pay attention to for the remainder of the week namely one inflation report and two important talks from the chairman of the FED Jerome Powell And obviously we'll look at the odds of the 25 bips right height coming at the end of July which it looks like it's pretty much a done deal. and really I kind of want to kick it off with some other wild stuff that I'm seeing.

apparently massive growth in the sport of pickleball which I guess is just growing at Leaps and Bounds you have professionals like people like Kevin Durant buying pickleball teams but also being associated with medical bills like allegedly gonna rip through the roof. Apparently the new interest in pickleball is going to cost like Insurance like 400 million dollars. So just a weird little Side Story and the other more interesting wide Side Story is apparently some I don't know tree loving hippies trying to stop New Yorkers from having oven and cold cooked pizza and the City of New York I Don't know if there's anything that has like really gotten everyone to stick together on an issue and this might be it. Someone's trying to ban oven cooked pizza in New York and obviously as you could expect, the responses have not been so agreeable.

So I kind of want to kick off with that. Um, also a reminder. Remember on Rumble if you're listening to this right now, you can tune out for a second because you're already good. I have one channel on Rumble the video is up there but on YouTube Just my producer and I have noticed some weird things going on with the algorithm so we're separating everything into two different channels: the Live Channel where you're also going to get clips of the live stream and then in Evergreen Channel and what I mean by Evergreen is videos that are not necessarily timely like you can watch it now in a month in a year and it should still be viable information so not really daily updates where if you miss it one day it doesn't matter, you go on to the next one that's going to be for the live Channel Once again, just on YouTube if you're on Rumble their algorithm Works differently so all the content's there, you're not missing out on anything but on YouTube there is a new channel.

um uh, the second interview dropped yesterday and here I'll throw that in chat and I think the nightbot is successfully posting it. so make sure you check this one out. Uh, you could save it here I just put the link in chat right now it is in the description of the video but this one you're really going to enjoy because it's the story of David's son. David Started trading.

He's a smart guy, he is electrical engineering, master's degree so good with math and everything. Started trading in 2008 2009 and all that craziness and he got into the world of options very early on and he just really really liked it. and then in 2017 he was always kind of learning over that eight nine year period and then in 2017 he started to take it extremely seriously. So because of the success he had up until that point and then especially in 2017, he was able to actually run money and he started his own hedge fund in 2018.

and then fast forward two or three years later 2020 2021 he opened a second hedge fund. So right now you have a guy who's like me, like you, a Retail Trader who just really honed his craft over roughly about a decade. and he's now running two different hedge funds and it's all basically based on options trading strategies. of course We get into that into the interview and he kind of discusses what he does, but more so of his outlook on trading and how to be a professional.

Trader and the fact that he went from retail all the way to running two hedge funds right now in real time. I Think it's an impressive story that a lot of you are going to enjoy. So um, that's obviously pinned to the topic or no I Just put the comment in there. but it's in the description of the video or if you just search Matt Core's Davidson Once again, it's already on Rumble but it's on the secondary Channel on YouTube So if you're like dude, wait, what's this interview that I'm hearing about uh, it's not on the live channel, it's on like the main Mac course channel.

So uh, just want you guys to know about that. But once again in the description of the video, uh and on that note, let's take a little look you see at the market. So right now yesterday we closed at 4 31 44 in pre-market we're trading at 432.19 Early this morning things were looking a little weak. We had a little bit of a pop in the London session uh, held for about an hour right here and then vomited pretty hard.

Things got even worse. and then all of a sudden this durable goods order and the information from Canada their CPI their inflation report came out and the market popped. so uh, getting saved a little bit bouncing off of support and uh, we'll see how it opens. Honestly I know there's a concept of turnaround Tuesday if the market closes right on Monday the odds of a turnaround on Tuesday are high.

It's better than flipping a coin, but obviously it's not a guarantee. So right now I mean I still have my swing plays. You guys know that on my IEP my Tesla my Microsoft puts for July Late July July 21st I do have some spy puts for this Friday one of them I feel good about the other one the ones that are at 4 30 I feel good about the ones at 425 not feeling so boy know about so I'm going to be monitoring that through the day but I'm not like swinging any zero DTS or one DTS right now at this point in time. But obviously hey, pay attention because we'll see how Wild Things get if you do take a step out.

I do want to remind you that the trend is clearly now down. We've been trending up, up and up and I'm just defining that by higher highs higher lows. pretty basic way to define a trend. And then basically, ever since this breakdown on Tuesday June 20th, we've had lower highs and lower lows.

So I would argue that the trend is currently downward and I like to trade in Trend I like to trade with the larger Trend and I find distortion on the smaller time frame. So basically if I'm looking at the daily chart and I see it trending down well on the 5 10 15 I want to see it pop up something that I could take a bearish bet and then see if the overall trend continues I like to trade with the overall trend and in the shorter time frame, find really the opposite movement just to lower my risk. That's kind of a overall methodology that I think could help a lot of us. but anyway, today on that note, I don't think this story the bearish story ever since Tuesday the 20th really changes unless the Spy gets above and holds above 434 and we'll just call it 60, 50 whatever.

the high from yesterday, which also happens to be just an important level we've been seeing recently. But anyway, I'm watching 4 34.60 That might turn me bullish in the short term. On the flip side, if we are negative and weak I'd be looking for the breakdown below 431, which I think opens up to the gate to 429. So that's my bullish case scenario.

That's my bearish case scenario. Today might be a little bit of a strange day because yes, we are getting an economic update. we got information out of Canada we got information about the durable goods at 10 am. We're going to get stuff about the new home starts, but really the party kind of gets going tomorrow and Thursday Jerome Powell the chairman of the FED will be speaking on both days and then we're also getting the GDP report I Believe on Thursday and we're definitely getting the Pce report Another inflation report here in the U.S on Friday So today's kind of A Strange Day where we're getting some reports, but it feels like the fireworks are really going to be set off for the remainder of the week, so we don't be surprised if there's like a little bit of like just a chop hold pattern type of a day.

Um, it might happen. so just maybe something to have in your mind. S P 500 Rises Slightly as investors await economic data in run up to month and quarter end, so this is the final week of the month the final month, of the quarter. and obviously this is Q2 So we're going to be about halfway through the year and it's time to take stock about how everything's been going.

Have you been crushing it the first half of the year? Do you need to maybe change a couple things here and there to make the second half? I Think a lot of investors and Traders are going to be taking this. Remember, next week is the break. The market is open half a day on Monday but not many people are going to be trading it. Then the markets closed on Tuesday an observation of Independence Day July 4th.

So next week is arguably a short in trading week pretty much Wednesday Thursday Friday So I just want everyone to be prepped for that. So as we all kind of leave a little bit early for vacation let's say midday this Friday and then come back Wednesday Use that time to be like, do a little bit of research on yourself, do a little bit of an analytical breakdown of like okay, what's been working Let's double down on that and the things that haven't been working. Maybe it's time to leave it behind in the first half of the year before we get into everything I need to share the craziest story that's currently going down in: New York Uh, if you haven't heard. New York Some genius has come up with the concept of banning ovens for cooking as in oven pizzas.

and obviously this is like some like deranged, uninformed environmental argument. But as classic New Yorkers would tell you um, the reaction is pretty harsh and I would arguably I would say yeah, it's pretty reasonable. The reaction uh, because the what they're attempting to do which I don't think is going to be law like? let's be honest I think New Yorkers would be very very angry I think it'd just be a political issue, but they're trying to basically ban good pizza. Scott is the guy making so obviously owns a pizzeria and he's gonna start hucking these pizza slices at I believe City Hall The woke ass idiots who run this city are doing everything in their power to destroy it.

We have naked men with their titties bouncing around all over the city. Yesterday in public in front of children, we have the most violent raging crime rate ever. We are being invaded by illegal immigrants who are being treated way better than our homeless veterans. Our teachers and first respond to Heroes who were fired.

Still not compensated because they didn't take the fouchy injection our city schools produce. The dumbest kids and the woke ass punks who run New York City are afraid of pizza the world used to respect. New Yorkers As tough, thick-skinned and gritty, now we have become pussified. It's a damn shame you heard of the Boston Tea Party Well this is the Boston New York This is the New York Pizza Party.

Give us pizza or give us death sisters Pizza Oh give us death. Give us pizza foreign I Like how it goes more than one pie. He's like I can't stop at eight. He keeps going.

Can't have pizza New York City is nothing without Pizza Fair Point All right, we're two pies it 16 slices For those of you keeping count right now we're going on to the third party. This is moving our way up to 24 slices. I Think man, he's like, uh, could you please stop a pizza thrower and then actually here I did find how it concluded. For those of you are curious for the pizza because they shut down pizzerias because it's destroying the world all over the place.

The drug problem the Fentanyl wasn't a Boston Tea Party this was a New York pizza party. Look at this. Getting arrested You Gotta Love New York City No I'm not getting arrested. Oh, just giving him a summons.

Imagine explaining that to the judge it was only two full pies. Court summons let us have our Coal Oven Pizza Can't have cold oven pizzas in the city yesterday in front of children but this guy's worried about Pizza The city used to be tough. We were gritty. We turned into a bunch of we're protesting with a pizza he calls it how he sees it and then obviously, uh, just if you know who Dave Portnoy is from Barstool Sports he also does.

Is this going to come up? Uh, he's big into the pizza world. the whole like one bite thing. Uh, come and take it. They have a new shirt come and take it within the oven Coal Oven Pizza Like it's becoming a real thing.

It's absolutely. They do a real quick rant here. Um and before I start this is what a flower hanging New York's freaking out faces my backdrop Pinehurst uh Anyways, in case you've been a little like cave, everyone sent me this. where the Ninja Turtles apparently in New York City some little liberal arts ivy league pink-haired crazy liberal who's never worth one day in the real world is on an environmental commission and they woke up from their little nappy poo.

Wherever that may be like I figured out how to save the world Today we have to get rid of coal oven pizzerias in New York City We're gonna stop that. The the emissions I guess is pollution, blah blah blah. You know what pizzerias use coal ovens? all the best, all the best. John's a Bleaker Patsies to Tanos, you name it any pizza place they're like oh this is Manhattan this is old school.

This is what people think about when they think of NYC they have a goal of it. They've been grandfathered in. They've been there for 100 years. minimum.

Most of them in this environmental commission. blah. da person wakes up and wants to ban coal ovens. Are you kidding me? Do you know what's going on in New York You got rats, You got trashed in the city, You got cars, planes, private planes, You got people getting slashed on the subway, you got flash mobs robbing stores, and you're coming for a Coal Oven Pizzerias You think shutting down like 10 to 15 pizza places is gonna make a difference? They've been there for 100 years now.

This ain't gonna happen because People Unite on something like this, you already have Somebody was already outside like uh, Government Center or whatever they call New York Throwing pizzas at the workers be like you're not taking our pizza. So no I don't think this is gonna happen Pizza she shows you stupid Publications Are you're gonna come after pizzerias for global warming? Are you nuts now? like I said, there's no way this get passed. but this is sometimes like hey, Dave you you can't threaten people. Well this is a threat I can threaten people hey Dave if they come after John's a Bleaker I will come for their throat and I will never let go till I squeeze the life out of him.

Leave the pizzerias alone. The best ones in the world that's Listen I've never been the biggest New York City Guy: they're old school pizzerias. that's the guts of the city. You come for them.

I'm coming for your throat. That's a promise I Truly don't know if there could be a dumber decision from whoever's on this like environmental board who come against pizzerias in. New York Like I don't If you gave me a hundred years and you're like Matt you have to spend these hundred years thinking of the dumbest thing you can do to get all New Yorkers to hate you I Don't think I would have come up with something this dumb and yet it's happening in real time Mr Poynoy there did allude to the fact that this is something people will rally behind I 100 bet that they will 100 I Just don't see how this goes through and in fact, folks I want to get your vote on it. but I think we should just commit to maybe closing down this entire concept of Matt cores The Goonies and trading.

I Think we should just go full pizza from here on out and it's up to you. But I think June 27th onward until I Think this is a fight and a war that we could take up. We have numbers here. there's thousands of us, thousands around.

like save our pizza, give us pizza, or give us death I Think we should become full Pizza full Pizza until true justice prevails in this particular situation. Uh, and it also kind of works out because we have a holiday coming up, so we might as well just become really. Pizza Centric Really pizza-centric but Texas Roadhouse I Know what you're saying about Texas Roadhouse But where does it stop? Seriously, if they come for pizza, how do we know that they're not going to come from barbecue Man? Like in a weird way, us protecting the pizza industry is also protecting the barbecue industry. You know, if you give these kind of pizza an inch, these pizzas stealing people in inch, they're gonna take a mile.

And my question to you is, where is it going to stop? Where Where would it possibly stop if we let them take away New Yorkers pizza. And I know some of you guys might not really be in New York but it's not going to stop here. You're going to have someone on your environmental board who's like, hey, you know what they're doing in New York They're getting rid of all the good pizza, Getting rid of all the good pizza I Wouldn't be surprised if this is somehow funded by another competitive Pizza industry that's just trying to get rid of the good stuff. And I understand why they're selling this shirt.

Come and take it. Wait, what were the comments on this? Uh, already sold out? Good load. Really, it's already sold out. They've already sold that many of this.

uh, is it sold out? Feels like you could buy it Tommy tank Saturdays are for the boys Champions Man they sell a lot of merch. uh pave Yeah I don't know. It looks like you could get it. Maybe they had to do a restock or something.

Uh I wouldn't be surprised if going around. New York if I see start to see this shirt all over. Anyway, another crazy thing I Found out about pickleball injuries May Cost Americans nearly 400 million this year. More physical activity is a good thing, right? Uh, it is.

obviously more physical activity is a good thing. The way a UBS analyst came up with this is the firm estimates between 250 to 500 million in costs attributed to pickle injuries in 2023 and it kind of just did a breakdown of different age cohorts and then injuries per 100 000 and how this game really does seem to be massively popular in like the 50 to 80 groups. So obviously if they're more prone to injuries and then that's the group that's being more competitive in this sport or playing it more, obviously injuries are gonna Spike And then they looked at the injuries and kind of the average cost in our Health Care system and they came up with a pretty hefty price tag of anywhere between 2, 150 and 500 million. Uh, I wasn't really in the know.

The fact that pickleball is growing by Leaps and Bounds Um, it is becoming massive, massively popular quarter over quarter. The growth of pickleball is just astounding. I haven't even seen it in person I've seen videos of it I understand the concept of it obviously I've never played it and I guess my question to all of you is is it worth it? Like do we have any pickleball Fanatics in here like is should I be a somewhat of an early adopter and just try to get really good at pickleball. or like I don't know I'm kind of going off of you guys like what am what? what's going on here in pickleball? uh my, my sport is the best.

Pickle Me Timbers I like that. So worth it. You take a ball, any ball and it's all. Bring pickleball.

I think it's a little different, but maybe maybe maybe maybe I'm writing it down so I can look into it I bet there has to be courts and stuff around me Matt pickleball. Of course it's just a day where between the pizza, the pizza gate, and also with pickleball I feel this this is potentially a life-changing day I'm more of a serious note before that Bell goes dignity ding ding ding Putin says Russia avoided Civil War as Wagner Mutiny Case ends defense Ministry says Wagner to transfer heavy weapons Army Putin agreed not to prosecute Wagner in deal to end Rebellion So this is the big news. Over the weekend, it was basically a 36 hour Rebellion some calling it an attempted coup, but there was some legitimate questions of is Russia going to be overthrown as an Is Putin going to be overthrown by their mercenary group? Uh, this guy, um, Evgeny is the leader of the Wagner group is in Belarus Allegedly right now I say allegedly because who knows I Don't see how both Evgeny and Vladimir can live after this. I don't see a world in which there's space for the two of them.

Uh, but who knows. Crazier things have happened, so definitely pay attention to it, especially with the impact on the oil. Market As of now though, things do. You seem to have quieted down quite a bit.

Japan stocks are roaring back. This rally may be different from the 1990s bubble high, so Japan is kind of in a weird scenario where unlike the US market, we're kind of always generally trending higher if you take a large enough period. Uh, that's not true for the Japanese Market back in I Believe the late 80s I Want to say it hit its all-time high and it has not been back there since, but now it actually is making a comeback. Um, it's not at that high yet, but it's definitely getting in that realm.

so something to pay attention to Also worthwhile to pay attention to, especially if you're a Forex Trader trading like the Japanese pairing with like the Japanese Yen with anything so uh, International markets. We're seeing quite a bit of strength in Japan and also the German Dax as well. On the flip side of it, a U.S recession is coming this year USBC Warns with Europe to follow in 2024. I Believe Right now my base case: hang on.

it would stop. we we being tofu eating soja milk drinking people, it would stop at Oh Peter Yeah, um I Don't know if, especially in New York I Just don't see that pulling off I Agree with you? Uh, a U.S Recession is coming this year USBC warns with Europe to fall in 2024. my base case is yes, a mild, a shallow recession. I Think Sometimes when we say recession, everyone's mind thinks of the financial crisis in 2008 and we think that's just like the base case when things get bad, but understand that was an extreme situation that's not really a normal recession by any means.

So I don't want this to be like that doomsday call out and like thinking oh, everything's gonna plummet I Think things come down I Think right now, we're fundamentally overvalued, especially based on many major economic measures and we also are still battling inflation and battle inflation. You have to push down on the economy. Basically, things are just running a bit too hot, things are overvalued, especially in the tech sector. I Think it's reasonable that we have a pullback and it wouldn't be the most insane thing to see on unemployment pickup.

And also maybe our GDP take a hit for a couple quarters which would officially trigger the definition of a recession. So I think we could get through it where people kind of talk about it and maybe we all complain as we always do with like the economy not being the best but I'm not thinking of this like uh, the bubble popping in the early 2000s or 2008 2009. The financial like the housing crisis, the Great Financial Recession I I'm not seeing that the as of now, that's not how I interpret the current data set. Obviously, take that with a grain of salt.

I was just in high school in 2008 happened and I was about seven years old when the tech bubble popped in the early 2000s. So I'm not pitching this to you as like oh, I've seen so much of the economy decades and Decades of experience but it's just our unemployment is pretty low average income. like like we're seeing decent growth like it's the I would argue the biggest inflation rate. The issue right now actually is inflation.

So um, I see a lot of Doomsday and I get it because that gets clicks whether you're reading an article or watching a video. it's just inherently not my base case right now. Markets are pricing in rate cuts too soon. Uh, I Find this interesting because for the longest time we were being told that yeah, they're going to cut rates all the time and I just didn't see why because the FED has not bluffed at any of these points as of now, there's a 77 chance in July we're gonna get into 25 bibs rate hike, but we were told that like at some point in 2023, it's gonna cut.

uh and we saw this like at one point people thought it would be in late 2022, early 2023 and they keep kicking their like their fancy analysts are kicking it down the road. and then ah, I find that interesting I find it very, very interesting that a lot of these fancy schmancy people with their fancy schmancy pedigrees are commonly wrong I find it surprising, but it I guess they still get paid the big bucks for doing so so anyway. I Want you to know that I don't really see rate Cuts coming this year whatsoever whatsoever. Not like I Think the statistical chance of it is very, very low and if it were to happen, it would actually signal something very, very bad.

for the FED. In my opinion, right now to cut rates of this calendar year, it would be highly representative of the fact that things are going horrifically wrong and they need to take their foot off the throat of the economy. I Don't think it's happening I Think right now the FED is showing to the world that nope, they're willing to keep pushing things until something breaks and we've seen some Regional Banks break and I think that to them, that is a cost that they are clearly willing to take. so that's just my thoughts on it.

I Do believe at the end of July we're going to get another 25 bips right hike between then and the end of the year I think we're getting another 25 bips right hike and I would not be expecting the FED to cut rates really in the first half of 2024 like at all. I think we're just coasting unless things get very bad things would have to start like more things would have to break for them to be like uh, we did it a little bit too far. Uh, on that note, the casino is open. Best of luck to all.

Play responsibly if not have fun. Um so let's see how things go. Market's opening. We're gonna watch it for the first 5 10 15 minutes as a reminder to all of you.

I have IEP Tesla and Microsoft puts for July July 21st. The IP ones are for July 14th. So anyway mid to late July I have Microsoft IEP and Tesla puts I also have spy puts for this Friday June 30th. Right now the only one in up money are the Tesla puts.

they're up 12. The other ones are down around 20 roughly. but uh, not not the most worried about that right now. Uh, I'm still.

You guys kind of know my plan for this buy. It's nothing too special, nothing too Brainiac I'm either waiting for the breakout of 434.50 or waiting for the breakdown of 431 to see what the trends gonna be. I'm not really, nothing too big brain going on right now I'm just I have my positions I'm watching it I'm waiting for breakouts I'm watching for breakdowns I'm waiting for confirmation I'm looking for some downside Gap those on Microsoft and Tesla Beauty on the daily chart I Really like the setups but I had a really good yet day yesterday. I mean you guys saw it I think this swing from Friday to yesterday was like 20K and I officially locked in a realized gain of like 11 or 12K yesterday.

So I'm not feeling that pressure to like do anything too too nuts. Um I see some of you talking about ride and rightfully so, it is worthwhile to be spoken about today. Ride Uh, gapping down 45 ride is getting absolutely slaughtered. If you very quickly want the Tldr on what's happening with ride, we need to rewind.

Let's talk about: Lordstown Motors Ticker symbol r-i-d-e If you've never heard of this before, it was a retail stock darling. Circa 2020. I'm talking before Doge Sheba AMC and Jamie That all kind of got going in 2021 in 2020. Still, when we were locked inside and the Federal Reserve was doing quantitative easing and people were getting stimulus checks, there were certain bubbles in that time that were ripping and really, it's everything that related to EV So yeah, you might be thinking of things such as Tesla which obviously ripped in that time period, but there was a lot of other smaller guys that were doing really really well in that time period.

Think of yeah, kind of even more of your Upstream plays like your charge Point your fuel cell but some of these actual like auto makers like think of your Lucids think of your NEOS think of your Workhorse think of your highly on uh and one of them was ride Ride was actually associated with with Workhorse that ticker symbol w K H S. That one had a huge following and unfortunately it did not go well. I Remember when I started my content creation career I Tried to follow it because I had a huge following and everyone's trying to understand. Would it or would it not be getting the USPS contract? Everyone was betting heavily that it would, it would, it didn't give it, they didn't get it and the stock plummeted.

The main people following this top just all left. It was horrific. If you look at the chart, it went down down. but anyway, they were kind of like I mean they crossed over a management and like there was a lot of relations with another company Lord Sound Motors Ticker symbol ride and apparently even though it was ripping higher in Circa 2020 now that we're here three years later, it seems to have met its downfall.

U.S Truck Startup Lord Sound files for bankruptcy after Foxconn deal falls through Foxconn plan to manufacture Lordstown EVS at Ohio plant EV Maker warned it may it may fail on Foxconn dispute Lord Sound Motor shares plummeted after the EV maker once hailed by former U.S President Donald Trump for saving automaking jobs filed for bankruptcy. The move to seek Chapter 11 protection from creditors follows a protracted dispute with iPhone maker. Foxconn Technology Group over a deal to make pickup trucks for Lord sound at an assembly plant in Ohio that's also where Workhouse was like their location their headquarters. Once again, a lot of interconnection between Workhorse and Lordstown but really, just for those of you who care about this Workhorse they were kind of redoing like kind of those mid delivery fleets which is why a lot of people thought it would be getting the USPS contract.

Lordstown was actually just making trucks like for the public. Um, and obviously it never really got off the ground. The Taiwanese manufacturer has said it was prepared to pull out of the production partnership, prompting the EV startup to warn it could fail if it was unable to resolve the conflict. Lewistown Motors Files for bankruptcy Seuss Foxconn Over 170 million funding dispute alerts have Motors Filed for Chapter 11 bankruptcy protection early Tuesday June 27th Lordstown Also sued Taiwanese Contract Manufacturing Giant Foxconn alleging it breached a deal to provide the EV startup with additional funding Foxconn which bought Lordstown's Ohio Factory for 230 Million last year that had been proceeding in good faith, but it will now consider legal action of its own.

so obviously. uh, sad sad conclusion to this story and it just it doesn't seem like it's going to be ending well. I Mean, right now it's down 45 as I'm filming this. but if you look at the daily chart and just kind of zoom out, you can see yeah, at one point 2020 2021, it was crushing it.

This is when a lot of Evie was crushing it. A lot of SPAC was crushing it. and then the fundamentals just never really improved. It really never caught a break, got crushed, popped, a little bit, crushed more, and then in fact it's it's been dying so much they had to do a reverse stock split and that's just basically a last-ditch effort to not get delisted because you're below whatever the requirements are going to be from the NASDAQ typically around a dollar and even that got a little bit of a pop, but on this news, it's done.

So this is a death spiral. If you're in ride I'm sorry to be the bearer of bad news, but the chance of surviving this is Slim to freaking none. And it's kind of just interesting for me to see this story that three years ago everyone was hyped up about. this was obviously a bubble s thing, especially in 2020.

the EVs and this fact and it's it's all just coming down now and this one unfortunately came down so much that it's done so and let's just check out its sister company Workhorse look at doing the exact same thing. 20 20 things got nuts. Everyone's like it's gonna get the USPS contract and then you can pretty much see right where it was announced that it didn't and then blend even more. bounced a little bit and ever since then once again, just another death spiral and you're gonna find this with a lot of the companies from that exact period.

Highland Another one in this world ripped in 2020. Dead Dead dead dead dead Once again, this is just three examples of it. You're going to be able to find many ones if you look at the EVS that ripped in that time period, or the spacks that ripped in the time period, or especially the EV spec plays that ripped in that time period, pretty much none of them doing well. In fact, if you look at this whole related ecosystem, the one that's held up the best and I'm not really calling it a spack I'm just calling it an EV Automaker truly is Tesla Tesla has a had a very different trajectory from that time period.

Yeah, it ripped a bit, but because this company has, you know legitimate fundamentals and is uh, has a little bit I would argue more of critical mass. it's been able to survive and obviously recently You could argue that it's actually even thriving. So unfortunately for Ride, it's not dead yet. But it does seem to be what we'll refer to as I guess a a zombie company on its way to death store.

and maybe it could get some sort of win against Foxconn and the legal proceedings. but I would not be holding my breath on that. All right. where are we at in the market? Where are we at? Were any of you around during that time? Were any of you remembering Lucid highly on Workhorse uh Nicola like they were all kind of together and I'm just curious if um, you guys remember that at all Lucid I mean Lucid actually popped recently because of uh, a deal with Aston Martin that was announced yesterday.

but I'm curious. like how many were any of you here actively trading highly on Workhorse ride anything like that? I made a little on the Lucid spec was in the loose. it's back. Yep.

cciv LS 10K on Hylian Lucid whooped me uh I I remember Workhorse because it paid. hopefully you got out early or did you play to the downside just burn I'm curious. remember Mara and Riot were 60. well that was with the crypto thing more and Riot rip on.

like when crypto went nuts Lucid is a joke. maybe I mean it's delivery and production numbers have not been impressive, but it's it's still kicking. it's still fighting thoughts on charge Point uh I've been asked this multiple times recently. Another company that's just come down quite a bit.

like once again, look at Writ in 2020. this was part of the EV craze and it just had like lower highs lower lows I'm not getting this, it's just trending down I Don't know much of its fundamentals if you're like, well, hang on I think it could be improved because of XYZ man I Hope you're right, but this was a spack play that ripped and then it got absolutely crushed going the exact same way as Workhorse Nicola Lucid like they all did the exact same thing. Matt is pumping Lucid don't fall for it. No I'm not I don't own it and it look same thing rips this one I guess came to the scene a little bit later, but still ripped.

This one had a interesting secondary push in late 2021 but then got crushed from there. so this one put up a whole nother. Fighting Chance but look at lower highs lower lows I I Just don't see what's enticing about it. I I just don't see at all.

uh YouTube Traders blew up at the same time. not sure which came first. Uh, generally. I mean just from my own experience, you first have to have a community and then that community like it's not like any unknown.

YouTuber is making something that's like. All of a sudden they are like creating a community. It's more they know a community and that Community ends up watching their videos. So like a lot of these things were ripping and people started making videos on it.

So then the people who cared about it ripping watch those videos. It's not like YouTubers somehow fostered all of that interest. The interest was there. people started searching it and like obviously there was like lower competition because a lot of the OG YouTubers in the finance sector weren't covering it.

A lot of the OG YouTubers In the world of Finance they didn't cover specific things. it was more high level of like long-term investing, trading strategies, blah blah blah. but I remember uh I mean I lived through it I've seen people who blew up because they were covering Nicola I saw people who blew up because of they were covering Workhorse I mean honestly like look at all the people who of at one point in time were covering GameStop or AMC and now you don't know anything about them. Some people are just like following a certain hype wave and then they can't transition to anything else because they don't have other knowledge.

They're not. Um, there's there's no other substance to their content. they're there to cover One exclusive thing. and if there's no more interest in that one exclusive thing, they're Gonzo uh I lost like 28k in the market so far Julian I hope you make it back Trey LOL Well shots that? no, there's so many more I mean Trey's one of them obviously.

but I'm talking like I mean I know of many content creators who covered Workhorse and Hylian like the way AMC and Jimmy had a community. granted not as big, they were still big communities so there was like a lead Workhorse guy who like always crushed it with the Workhorse videos on YouTube there was highly on. there was chargepoint and Fuel Cell there was Nicola Um at that point in time there was also a big Spurt of penny stocks. uh I mean folks I can name like 20 people probably like I watched them all like I lived through it I was attempting to make content alongside of them.

there's a ton of crypto ones. I mean there was big people in Doge in Sheba uh recently there was a pop-off of a couple people in Pepe but it was so short-lived they didn't really get any of like the wave going like it trays an example of it obviously. um but it it's much more than that. Like this cycle is a cycle that it never happens in the exact same place.

but the same cycle just in a different sector is continually happening. continually happening. uh Ricky Gutierrez I don't know about that. Ricky was kind of early.

he has like a whole Trading Group so he I don't think on the Forefront he was necessarily A like content creator he had a Trading Group and he was just one of the Ogs so he also built up quite a following on content. But to my understanding, he's much more of like a a trading room kind of a guy. um like Teddy only with ipus I only follow Matt because he's thick dude I need to get to the gym more I've I've been going to the gym but the way it's not coming up as fast as I want I'm down seven and a half pounds one of my two weeks in two weeks and a couple days. How's Workhorse responding to this? Workhorse just got slaughtered.

Snow has a deal with whoever know up 2.3 percent. Um, still a bag of mayo? Yep. currently Ricky is the real deal. very down to earth and super knowledgeable on charting.

uh I I can't attest to that at all. he might be might not be um I all those trading room people like I've I've used a couple of them I was never impressed I've never used him so I can't like fairly comment in one way or another. Uh, but is that type of stuff is not uh my my cup of tea really? I've been through it before, didn't really find any success. Uh, but I've I've seen a couple of his videos I I don't know enough to say anything positive or negative I've heard positive and negative things about them, but it's not really fair for me to like take a stance be like he's great or he's awful because I just don't know I haven't been through his courses I don't know what he says, it's just not what I know about.

This is basically a Trading Group Matt is it though this feels like a haha you just lost money doing dumb in the market group uh Trey was humble even you told Maddie was smarter than him out of respect I missed right? Oh I mean it was all an act like he did so many underhanded undermining things not only to me but the whole Community it was all an act all 100 in Act um man I like I don't really care to like go through it all just because like he's gone he quit so like why why does it matter but like dude, the amount of times that he would actively post information I told him it was wrong he'd be like no I have to keep it up because it got views he was so view hungry he was so admiration hungry he didn't care about getting out actual information. all he cared about was like does the community like um is he getting views and this didn't happen once I mean off the top of my head there's like three four five times where he's just like no I have to keep it up because it's getting views even though it was like wrong um and then it was all. It was all shrouded in the concept of like no, no I'm the fun guy. just hang out with me.

we're having a good time. Like he didn't care about truth, he just cared about cultivating like a fun atmosphere. which if that's what you want, that's what you want I mean we all have different opinions of what we should watch, what we shouldn't watch. Um, but for me when people's money was on the line I Always thought no hang on.

Maybe accurate information was like the most important. Uh I Need pizza oven powered by baby seals? What in the world? Uh, what are we doing today? Tesla Flat. can't make a decision. The Spy Pop came down just like yesterday.

We've been pointing this out of how the going tread has been flushes and it just overshoots. A little bit of liquidity hunting goes for a little bit of a liquidity hunt and then pops right out of it. so it makes a fresh low. So whoever had stops there gets basically absolutely screwed and then it pops right out of it.

Pops right out of it. The Going: Trenton Uh, as of now, not too much going on. We were just waiting either above 434 60 or below 431. We're at 430 260.

kind of in no man's land. essentially at the low from two days ago. not yesterday, but two days ago here. Let me do that.

Um, so we'll watch that. What's your vote on the day? I feel like I forgot to ask Microsoft uh up a little bit most likely on the fact that yeah, it got plummeted recently. So like not the craziest thing. just think that there could be a bit of a recovery.

but from there also worthwhile to note that the CEO like looking to make like 500 million or something like crazy by like 20 20 billion by like 2023 they just came out with like massively High uh profit and revenue targets by the end of the decade. Uh so why do you think he quit the stock market? period I don't think he when people started realize like what it was about and his lack of knowledge he couldn't handle the hate I mean um obviously like the internet can be uh like a very very harsh place and I mean I think he did some really up things but I also think he's a genuine guy and I don't think he had like the um like proper personality makeup to deal with like such an excessive amount of hate. um it's not the easiest thing to do by any means. uh so I think it was just like a hate thing.

he's like well hang on I'm I mean he made over a million dollars off of AMC he probably made more off of YouTube and now he uh like is on Full disability from the government. so like in terms of money, he's good, he doesn't need more money and like at that point, like obviously he doesn't necessarily care about like internet Fame by any means. So like, why not just live a quote unquote Easy Life financially he's made. so why not just do what you want to do? Um, so I I mean I I Kind of understand it.

It's not necessarily. Obviously it's a decision that I wouldn't have made because I didn't make that decision. Um, but if you don't need money, if you're made like and you just want to chill and kind of do whatever, uh do you think Trey was good at charting or was that fake too I mean it's so this whole good at charting thing. it's so comically easy to chart that's not.

that's not a skill that I think is even like remarkable. In the world of trading, you could take someone who has never seen a chart before, who has never traded before and by the end of the weekend they would be defined as a good Charter Like charting is comically easy. Um, so to me that like has nothing to like that's not a special thing like at all. Like it's it's a very low level.

Accolade to be a good Charter I mean you're connecting highs and lows. It's support and resistance. It's gaps. It's volume profiles.

It's literally all things that can be learned in one weekend of your life. You can do less than 10 hours of dedicated study and be considered a good Charter What's important is being a good Trader That's a wildly different thing. Just because you see something on a chart doesn't mean you properly execute it. What's your risk? What's your reward like there? That is like a completely different skill set.

but just to be good at charting like what the like? anyone? anyone could get it. Anyway, if you are here right now and you think like oh man I just need to be better at charting I'm telling you, if you dedicate one weekend of your life to charting, you will be a phenomenally good Charter it's there's just not that much to learn. How much do I bench uh uh, what is today today's Monday I benched yesterday I did I bench 205 yesterday but it wasn't my Max day I say that as if I could do much more uh I I probably couldn't at this moment in time. if I were to bench my Max as judging how yesterday felt, it'd probably be like 2 15 right now I used to be stronger I mean I'm not by any means saying that with Glee I mean if you rewind, what am I I'm 28 right now if you rewind seven years I was considerably stronger in all metrics and I was lighter I could bench more I could deadlift more I could squat more I was also probably faster.

Yes, it not only in so if you rewind seven years I was lighter I could bench more squat more deadlift more I could Sprint faster and I could run distance better as well. So basically in every metric I was probably more physically fit and I think that's just kind of what happens. Welcome to getting old. It's all downhill from there.

Yeah, um, do I want to take this? Let's do some expert charting. Oh my. God a lower high a breakdown below the EMA Um I would be careful. Like typically I would want to do something here, but I'm not going to because don't forget that at 10 A.M New Home Sales and Consumer confidence.

New Home Sales. We're looking at 675 000 Consumer confidence. We're looking at 104. that comes out at 10 A.M So I'm not really interested in doing anything before that.

You should also know that today, seasonally is it is favoring the Bears The Bulls have won only 44 of the time with the profit Factor below one at 0.45 Every dollar spent Uh has only returned 45 cents. So that today does favor the Bears Uh, we are about to get two reports coming out at 10 A.M I Want you to know that Walgreens reported and the numbers were not good Walgreens slash his earnings guidance due to lower consumer spending drop in Rona Care demand Walgreens slash its full year guidance to the range of about four dollars from 445 Walgreens Fiscal third quarter earnings Missed analyst expectations for the first time since July of 2020. Not so good what you could be. Consider it somewhat of a consumer defensive play.

not good when that is weakening. So yeah I Want to know what's going to be going on with Nike Uh, kind of in interesting I suppose just barometer of the health of consumers. So I want to see what's going on there right here Nike Checking that out after the market closes on Thursday after Mike closes today. If you're more of a semiconductor, Trader you might be wanting to check out Mike Ron All right we had that we had that we covered the Lord's town.

The death of a retail Dari Darling Should I cut that and like call that the video the death of a retail darling. How many AMC Gme people do you think would freak out thinking it's about their stock? will you be showing Rick when he comes out with the reports I Hope so I hope he's reporting it I very much do Rick Rick Rick They should be back soon back in the day I Could bench 445 Jesus I think my highest ever was it like it wasn't even close to that. My highest ever I think was 265 for one and that's when I was like really really going at it I was just never that good at benching like relative to my leg strength and my back strength. I was like just benching wasn't my thing.

That's highly impressive. 445 Dude, what are you a gorilla man? That is some serious strength. All right. What are we doing? Have you tried getting rich on here? Serious question? What does that mean? Tried getting rich on here I Don't know what you're talking about Joe Have you tried getting rich on here? Serious question? Uh Joe What the are you talking about is Rick Your uncle I would only be so lucky.

There's probably a few people in this world who would be honored enough to say that they're related to Rick and uh, I'm jealous of them I'm I'm definitely jealous of them Rich from TV Have I tried to get rich I've tried to run a business I've tried to run a successful business if that's what you mean I mean you see me day in and day out doing dumb option trades and every option Trader plays I'm like yeah I hope this has like a thousand percent return. Um, like, of course of course I'm trading for money. What? That's why? Wait, isn't that why we're all trading? Is anyone in here trading for a different reason Beyond Making money? Okay, I'm Joe I'm thoroughly confused I Mean that's isn't that why we all trade stocks in crypto and options and future isn't the whole point to make money blazy? Galaxy Oh I'm trying to lose money I I Try to give my money away to other people I Guess maybe we have all some like different opinions here on how we do it I Trade for morals I Have a gambling problem and don't want to drive two hours to a casino here while we're waiting for this to get going. Um I Think if you type in thick, the video should come up.

Uh. exclamation point: Thick. Does that make it come up? Or does it not work thick? There we go. It does come up if you do.

Exclamation Point thick. The new video on the new channel should come up if you're on Rumble you're already good. It's the normal channel on Rumble good Tuesday Morning welcome to another hour of Squawk on the street I'm Carl Kingston here with David favorite Leslie Picker live at Post Nine, they better give us Stock Exchange Sarah's off on assignment ahead of this big panel she's got tomorrow in Portugal where she will get the latest read on the consumer sentiment and new home sales coming out president, a spy popping up a little bit popping 40 cents 430 260 all the way up to 433. Let's see if it holds once again.

Yes, next few minutes. That's right. Lots to get to here today. We're 30 minutes into the trading session here.

Three big movers we're watching shares of Walgreens plunging the biggest laggard in the Dow this morning, the company slashing its full year guidance, and Reporting its first earnings Miss since 2020. more on that name in just a moment. plus some big calls on big Tech City raising its price Target on Meta to 360 a share that's a new Street high as Bernstein downgrades alphabet to neutral in a valuation call, you've got Meta up two percent uh Google parent company alphabet down about one percent and finally Kellogg moving higher the serial maker upgraded to a buy at Goldman Sachs Goldman says the stock is mispriced I just did a YOLO call investors arguing some spy puts at these Levels by 4 31 June 28th for tomorrow I got in at 67 cents super degenerate I Don't think anyone else should be doing it because I'm just betting on this report Big Data here Carl If you're looking at the the new home sales for the month of May 760 higher than expected, leaping over 675 000. That was our estimate last month's consumer confidence coming in higher than expected.

geez number going all the way back to February 22 and it comes at a time where what bank rate? 30-year fix is slightly over seven percent. Last week's MBA survey 30-year fix was six and three quarters and Kate Schiller today dropped on their home pricing and next to a seven year low. So some good news in housing. Now let's go to consumer confidence shall we? 100.7 is our June read 109.

welcome to the upside down world. Let's read: good stuff is bad stuff to January of 22 January of 22 present situation 155.3 That's the best since July of 21 and if we look at expectations at 79.3 that is the best level of the a year going back to December of last year. Now for some not so good news: Fed: Manufacturing Index of Minus Seven is the sixth consecutive negative month over month change and on the service side for the Richmond Fed the 16th negative consecutive month in a row at minus 12.. Now for more on new home sales.

Big leap, let's go to Diana Oh with Diana Well Rick this is a huge number. As you said, the street was actually looking for a slight drop in May One thing I want to Market pops came down and now it's just like sideways. take a look at mortgage rates around six and a half percent for the first half, then Microsoft looking Strong by the end of the month so buyers are still in the game. We heard this from Lennar and KB Home last week in earnings reports that were much better than expected.

A couple of notes on this: the median price of a newly built home sold in May was 416, but they did say they're offering fewer incentives lately than they had last fall. We're also seeing the supply of new homes for sale dropping to a 6.7 month supply that from a 7.6 month supply in April. So the builders again are going to have to start putting more holes in the ground and housing starts did increase, so that's a good sign. One more thing I Want to note is the 763 versus 675.

I haven't been started yet has jumped really sharply, which just gives that long runway for the builders ahead. That's why you're seeing the stocks up as high as they are because given the demand in the market now the incredibly low supply of existing homes for sale, this is why the builders are reaping the benefits of it and you see it right here. Despite the higher mortgage rates, buyers are still in the game. Carl Market has confounded a lot of investors who thought that those rates would have more impact.

Diana Thanks Diana Olick This morning stocks rebounding here, reacting to some of that data a bit despite still pretty much sideways group. CEO Seth Clarkman told Squawk, he still sees a downturn coming. Take a listen. I Think we probably will have a downturn.

The economy is slowing. many sides of of the inflation equation are coming under better control, but the goal of the FED is to reduce the heat. One way to do that is to trigger some kind of it's making a strong recovery. His pockets will start to run out around year end, so maybe it's an early 2024 event joining us this morning.

Charles Schwab Chief Investment Strategist Lizanne Saunders Lizanne Great to see you have just done the data. I mean the housing number? The confidence number. Are you expecting? Maybe a new one? Not what I was expecting. Session calls getting pushed back? well Carl We've talked about this on your program before.

Um, we think what we've been in really for a couple of years now. Watch for the breaks. Watch for a new intraday low below 4, 30 to 23. they went into their recession like uh, downturns and and clearly in the case of housing coming out and and one of our Theses around this rolling recession is that best case scenario is is not really soft Landing in a traditional sense, but a continuation of the roll through such that at some point that Services might start to get hit and you're seeing some cracks there and or the labor market gets hit that you've got offsetting stability or strength in other areas potentially like housing.

and I Just wrote about Um Housing this week and uh posted. it's on our Patrol.com but it's also on uh my Twitter feed so you can look into more detail. but uh, that's right now A Positive, Uh, support or at least an offset to some of where some of the pockets of now either newly posted and the list that's right now A Positive, uh, support. or at least some of where some of the pockets of now.

either way, that's what referring familiar that's right now A Positive, uh support. or at least what's going on some of where Some of the pockets of now. Either foreign was it that layout has an audio that I don't know where it's coming from folks that was crazy. that was straight up bananas if you ask me.

that was I don't know I don't know what that was but Jesus we breaking down? hang on I want some Tesla Okay, uh so here are my positions from just today just to keep you guys a little bit in the loop. So I just picked up some Tesla 230s for July 7th. Uh, and basically my reasoning for that is just Tesla I'm wondering if it'll break down right here. Uh, kind of a low risk entry I could just risk 247 if I so choose I see the cues breaking down I see Microsoft turning uh Apple I assume is turning So I'm just trying to play this trendline breakdown: Uh, would love to see Tesla quickly vomit to 240.

Why not? Like Seems like a pretty easy risk reward setup. basically risking two dollars to get five dollars. So uh, two and a half to one I'm gonna I'm gonna take that risk reward I I Don't know if it will or won't break down, but I'm seeing some weakness. um, the spies at the end of its wedge just made a new Fresh low but this is I mean I do want to hammer hone this concept of we we keep seeing these fake flushes.

Uh so I don't know if it's real or not. So something I'm definitely paying attention to if we come here. Did I want to do it on this? Yeah, uh I'm just seeing this kind of shelf level. We have a shelf here.

This is where everything Wicked to this morning I'd feel better if the Futures Market gets below 4 375. we're at 79. So I kind of want to set an alert there. Uh, that would make me feel far better about all of my positions I am seeing weakness.

That's why not only did I get this Tesla position which I'm keeping my risk in control. Uh, it's all risk reward setup. it's all risk management. But then I did some dumb yellow stuff right here.

Um, instead of a zero DT I did a one DTE June 28th 431 so this is for tomorrow. Uh, I got in at 67. they're trading at 80. just a little bit of degeneracy fun just to keep the stream I guess excited and you guys jacked up so you could yell at me like, why didn't you get out uh when I invariably like, uh, inevitably I should say uh, lose money I guess invariably would have also worked there.

so a little bit of my degenerate play for the day and then kind of a little bit of a shorter term swing like I wouldn't mind holding. think this Te