I Oh brother oh brother oh brother. Welcome back to another episode of the M show. Where the the moon's off. Apparently today the moon's taking the day off here.

Let me see if I can fix that. Let me see if I can fix that. Oh there we go. Oh there, That's what we're talking about.

That is now. It feels right now. It feel now Everything feels the way that it should be feeling. You know, you know, you know, you know.

Uh, the losses I took yesterday make me want to quit and sell my body to the highest bitter. then I realize I'm in the middle age, overweight, white, balding dude. Back to the Grind I go Jeffrey I'm sorry to hear you are currently dealing with that, but misery loves company I am right there with you after 2 and 1/2 weeks of going on an undefeated streak in my own personal trades. I took a bad loss yesterday.

uh I put it in there. it's on locals. um The Daily dgen report. but for those of you who don't know, Basically, ever since I started doing the daily Dgen report and the which I think started on January 8th it wasn't the start of January it was like the next week.

um I went on a tear. the account was up like 11 12K and I just gave more than half of it back I think I must have been up 11k and I gave back 6.2 of it Yesterday it was brutal I was not a happy camper whatsoever. it happens I suppose it happens. Uh, so we could go over all of that obviously.

uh I want to be transparent with you cuz like I'm so sick and tired of all these trading gurus who are like I may make money every single day every day I Never lose blah blah blah no that's not real. Uh, it's not real Am I I sick? no I I didn't take my allergy pill today and right before I hit like go live I was just playing with Piper So these are just allergies. It should be gone in like half an hour. um I just like I know I shouldn't play with her before I take my allergy pill but in the morning that's like when she wants to play and like who am I to get in the way of a kitten wanting to play so like it.

It's a tough break. It, it's honestly a tough break. So anyway, uh, hopefully in half an hour I S better. By the time the medicine actually kicks in, the little Zertek or whatever it is, shout out to Zertek.

By the way, if you want to sponsor my channel, dude, hit me up I am more than happy to take your Pharma money out like what's it zerx uh claran benad dril Zol whatever those major ones are, if you're watching right now, reach out to your boy. Uh, honestly, you don't have to pay for the sponsorship. just send me free allergy medicine and we will. We will be doing that.

So obviously uh Jeffrey I'm in the the pain booat with you right there. So I want to kind of go over what happened to me yesterday uh where I kind of broke the system but I also kind of had bad psychology so I think it's more useful to actually learn off of losing trades than winning trades. Uh so I kind of want to go over that. and most importantly I just want to be transparent with all of you as I was alluding to before.

I'm so sick and tired of everyone trying to like hide it. you're not going to win trading every day. and yesterday I was not only had a bad trade but I like I just I went on mental till it was not a good situation. So anyway uh we'll be going over that.

but we're starting early today because the GDP report is actually coming out in like a minute minute and a half. Uh so as of now S&p500 Futures are little change. As investors prepare for the GDP report, it's the advanced report also. I Just want you to know about 15 minutes ago, the ECB the European Central Bank uh, it's the Euro Zone's equivalent to Rfed.

They just decided to keep their interest rates I guess the same value. keep them flat. They're not going up, they're not going down. Uh, it's their equivalent of the Fomc meeting and they just came out and They're going to be talking in about 15 minutes.

Uh, so we could listen to that if you so choose. But anyway, Uh, right here. ECB Interest rate at 4.5 They kept it at 4.5 and at literally in a minute, we're getting the GDP report. Expectation 2 Uh, 2.0% Initial Jobless Games 200,000 Obviously, we're going to listen to that and then we're going to dive into earnings.

If you haven't seen it already, Tesla is falling off a cliff. currently down 9% in pre-market trading, so lots to talk about. Lots to get into. So kind of fortuitous that we're actually starting today a bit early.

Uh, but hopefully fingers crossed. We get to hear from our boy Rickon Tilly in literally less than one minute. Uh, so let's get rocking, let's settle in, take a deep breath, get yourself some Piper coffee and let's get ready for the day. Let's see if we can make some of those losses back from yesterday, you know? Uh, Clarin D is the pimp Matt Wants to be a transparent feels like crap face.

You're really all over the map with your insults this morning. I Think you should pick a vein of how you want to insult me and then like I'll help you and we'll go down that vein together. Because like, at one point it seems like you're on my side. You're like Dude Love Clar Indy But then on the other side, you're attacking my parenting when? how could I be a bad parent when my child is on my mug? So lots lots of ways that this could go.

Lots of ways that this could go. But anyway. Uh, let me get this ready. Welcome back to Squawkbox! Rick Santelli Here live at: CQ with a litany, a long list of important news.

Let's start out with our first look at: Fourth Quart GDP Expected to be up 2% Buckle up up 3.3% up 3.3% That is a huge jump. Obviously, it follows a stronger 4.9 but this is much stronger than many anticipated. And if we look at consumption, 2.8 3/10 higher than expected, but also 3/10 less than the rearview mirror which was 3 half of last time 1.5 we're expecting 2.2 Our last look was 3.3 Uh, 1.5 How does that figure in 1.5 be the lowest since it was negative and that was June of 2020? Now let's go from month over month to core, shall we? on Core Pricing Index: Uh, quarter over quarter expecting 2% we had 2% that's the number and 2% in the rear view mirror. Let's quickly go to uh uh, retail inventories we're expecting on change.

They popped up big time up 8/10 of a percent, up 81. And these are the types of things thatp if you look at wholesale inventories, the same scenario: wholesale inventories breaks two months. Negative: in a row up 410, up 410. That's the biggest increase month over month on those inventories since November of last year.

Let's 45. What we are seeing is uh, minus 88.5 Very close to expectations. Durable goods. Uh, if you recall last time, 5.4 That was best since July of 2020 and that moves up to 5.5 on a revision and the averaging takes hold unchanged, less than expected.

but when you put the two months together, you can see that isn't a bad number. X Transportation It jumps up to 6/10 of a percent three times Expectation: one/ tenen higher than the rear view mirror so we could see Transportation Orders boosted boosted durable goods and if we look at capital Goods orders non-defense X Aircraft a proxy for Capital spending, it's up 310 much stronger than we are expecting. And in the rearview mirror, an upgrade from 8/10 to 1% So to see 3/10 Yes, it's a third of what we had last month, but it is still very, very solid. Shipments come in up one tenth of a percent.

And finally, initial jobless claims expected to be 20 ,000 pop up to 214,000 maybe last week's 187. Now Rise 189 was maybe affective by a bit of a shorter work week 214,000 That is the biggest initial claims going back to the third week in December when it was 220,000 and finally continuing claims 1,833 th000 that follows 1,86 It's a little bit higher than expectations, and if if we look at interest rates we've seen both sides trade, 10 went up to about 418. Plus, they're back down to around 414. They were around 415 down a couple of basis points that was where they were before the numbers twoyear.

no eels are at 436 exactly where they were. But for all these numbers, that represents down two basis points on the session and I will kick it back to the panel I guess In summary, Uh, what? I found most surprising was the extra strengthen GDP Yeah, that was definitely unexpected. Rick Thanks. Uh, stay with us for more on these new numbers.

Let's bring in Barat Rama Myty He's senior adviser for Economic Strategy at the American Economic Liberties project and a former deputy director of the National Economic Council in studio Joe Leia Snbc Nico Securities Us Chief Economist Former Chief Economist at the National Economic Council our own Steve Lean Steve We'll go to you first. Is it as simple as some inventory build for the the GDP And would you characterize it as as kind of Goldilocks I Mean that some of the numbers weren't hot, but the GDP number 33 is like amazingly good isn't it? It's very good. Joe And and it is really interesting. Um, there was a negative number expected by a lot of economists when it came to the submitted the contribution of of inventories.

It didn't happen. It may mean that there's an inventory draw down in our future. Rick Talk about retail inventory surging. But I Think the story.

It's a lot of data and and got hats off to Rick for his clear and cogent reporting of all of that data. I think maybe it summarizes to this which is my Uh Bill Mah invitation I've been doing Joe for for uh, on the economy which is new rule Nothing about growth has anything to do with inflation. The story here is we have continued to have If This Were one quarter I'd Throw it aside and I'd say you know what, It's an aberration. continually.

throughout the year, weow stronger, grow than expected, and relatively bag some money 205 205, 205 blah blah blah all the way. Num they at% GDP INF relatively strong Lo G strong on consumption and inflation continues to be well behaved. Period. Bar what? What is the the the underlying uh reason for for the good news.

Do you think I mean are there productivity Gain Is It is it residual? um uh, pandemic relief spending that people did? It didn't run out yet. What do you attribute it to exactly? is this organic growth that that's actually positive? Yeah, yeah. I agree a lot with what Steve said I mean obviously. First, a blockbuster number on GDP You know, even setting aside the contribution of inventories, that's an extraordinarily strong number And Pce Now if you look at it, over the last seven months, it's been running at under 2% core Pce which is obviously what the fedus little bit that robust growth paired with declining very stable Uh inflation post Target The reason for that I think is because we have had a a recovery that has been bottom up and middle out.

By that I mean bouncing a little bit that was provided to individuals. those stimulus checks potential. Plan those stabilized household finances very very quickly. SE been highest among the low inome consumers and of consumers are the ones who have the highest marginal propensity to consume.

They go. they go out there and spend that extra money and so we have a consumer-driven economy and the American Consumer is doing very very well. You see that in retail sales. You see that now in the in the burgeoning consumer sentiment data.

All of this points to a very robust and resilient uh recovery. where I think the only risk at this point is that the FED takes too long to cut just looking up. uh Election Day uh I think it's the is it the 5th of November Um so Joe I ask you calendar I ask you if it's going to be better or worse you goes. Is it re Are we going to have until November 6 Are the numbers going to keep coming in like this data conspiracy theorist the GP numbers you brought it up I said it probably be higher I said it would probably be higher.

The uh the GDP numbers look good. Um have the number are the income side of the economy because as much as we might say, this is a consumer Le Economy actually output is measured by what you produce, not what you consume. The income numbers have been very soft. We don't have the Q4 numbers yet to give you an example.

Uh, over the four quarters ending Q3 income real income year on year was negative while GDP was up almost 3% Now it's possible the income numbers could be recovering, but what we've seen in the employment data is 10 of the 11 last 11 months employment revised lower. So I'd Be careful to to describe this economy as booming or Blockbuster or anything like that. but the GDP data by themselves? no question, look better. Is it Goldilocks I mean it you if you were Barat or if you were the B Administration did you hear Barat Barat you used that I mean you sounded like a it almost sounded like a campaign that that's what they say about what was it? How do you say it? middle up, bottom M bottom up.

But can I just can I say something in response to Joe because I Le or me I don't understand where all this pessimism is coming from. Look, A lot of economists including Joe I I should note in early 2003 were uh, 2023. We're talking about how a recession was inevitable uh, and that it was imminent and and those predictions were wrong. There's been undue pessimism about the the state of the economy for for years now, and instead I Think what has happened is that people have underestimated that when the typical consumer has more money in their pocket to spend.

By the way, real wages are up uh, for the last several months quite quite strongly over over the rate of inflation. Uh, I think that that leads to a more resilient, sustainable recovery. and I think that that, uh, pessimism continues to be undue. uh, and I and I Frankly, I I Think it is, uh, disappointing given the fact that we've seen these extraordinarily strong numbers that people want to continually try to talk down the the success of this recovery.

You you correctly know re real wages are up Just for the last couple of months we went through. we went through two years where real wages weren't up when inflation was, and I think we're still beneath where we were prior to to the the administration. Aren't we santell? Yeah. Listen, it's easy to find out why Wall Street Main Street are running two different Tunes in their iPads What's the going on here? Think about it this way: look at some of the issues that everyday Americans face.

Okay, we have border issues and we have overspending by a government that seated inflation. Inflation might be coming down in terms of the rate of change, but it certainly isn't taking back the prices that went up during the Covid period. What's more many of the government programs that Wall Street likes and they look at these numbers: Main Street isn't looking at these numbers. What main Street's looking at is that the US economy, for all practical purposes, is a perpetual motion machine.

There's no other machine that'ss anything like it. And when you shut down the economy during Co and you open it back up, you should not be shocked to see what's going on here. Well, what people are shocked about is you're not going to brag about the economy when everything every body buys on a day-to-day basis that makes less than about 100 Grand a year is starting to continually in their wallets, did you? Yeah, one more thing. Germany Look at Germany the King economy of Europe the top of the mountain.

It is coughing so there's a relative trade here. Uh, that is finding the US just outshining many of what its previous peers used to be that aren in a postco too. Beish, were you too bearish on there coming? No, you caught real G and the I just had Leia TR I'll get to you in a second Steve Go Yeah. Real.

GDP Shrunk In the first half of 2022, we haven't had the layoffs I Wouldn't be so confident that the recession is not coming. Certainly, the government spending side has been massive. Uh, since January of 21 I calculated trillion of government spending. So that's certainly helping say that.

X question? All right. Which Joe was on to something You couldn't mean me? could you see I met you Joe you You're the first. You're the only one that talked about productivity. There could be something going on beneath the service when it comes to productivity.

I Like what Rick said about the perpetual motion machine of the US economy and I think what's happened and I'm I'm just theorizing this: businesses responded to higher prices by becoming more efficient. Now that the rate of inflation has come down, both those companies and the US economy are reaping those benefits. It's early days to declare this, but you saw people respond. You saw the technology that's been deployed from everywhere from McDonald's to even AI in your consumer.

uh uh. customer service? uh, locations that could be uh uh. In fact, Steven Davis from the Hoover Institute is is is is theorizing that it may be a work from home thing, making people more efficient and productive. That's out there.

So there's good things happening underneath the surface that has very little to do with the whole political situation that I know, Uh, you like to debate. but I would just say that businesses seem to have responded: people have more money in their pocket because of it. Um, and that means higher wages uh, relative to inflation and that's I think just good news I Don't want to say Goldilocks because I don't want to jinx it Joe but if there's productivity going on, it is Goldilocks All right. Thank you everyone.

Drudging Toon Uh, the drudging toon post big Smiley sign uh GDP Up Three Crushes expectations. They love it, They love it. Uh, thank you Santelli Not to be confused with Santo thank you Leia would you work in a trump Administration if he had if you got back in, um sure not Steve lean Who doesn't want get real political at the end there? Joe When we come back we will talk about what the new GDP data means for the Federal Reserve As It Gets Ready literally playing the exit music Rich Fer will join us right after this. Stay tuned.

You're watching squawkbox and this oh, you got to love it You, you got to love it dude. Joe's been letting them fire off lately and I I Have to say it's been. It's been more entertaining for sure. Market Popping on the way higher than expected GDP report.

Uh, the Spy The Q's looking good this morning. uh Tesla Getting destroyed, dryed and that's all because of its earnings so we could dive into that in like a minute. We're going to be hearing from the ECB Do you guys want to listen to her or do you want to do something more fun I guess I'll leave it up to you uh also on that nose I on that news I should get your vote Market at at open bullish here I'm putting up the poll Bearish. All right.

Start the poll, Start the poll, Start the poll Mo Fun Mo Fun Well if you want to get into more fun, uh, let's start by the thing that is the opposite of fun. Let's uh, let's do a legitimate dive into what in the world I did yesterday. technically it was on SPX this is SPX this is the actual S&P 500 Index and yesterday we started strong little bit of a dip, a rally and then at 100 p.m. everything changed.

It's equivalent to When the Fire Nation attacked and they attacked because the five-year Bond auction from the government the treasury didn't go. so Bueno there wasn't as much of an appetite as everyone was. maybe having you think and I got destroyed by this I thought oh okay I could handle a little bit of pain. Oh yeah, this is fine.

this is fine. all right. Like maybe we're getting a little close to my level I really cared about 4,875 because that's where I sold premium and it bounced I was like that was that was a close one and then there was a whole hour and extra 15 minutes of me getting destroyed. I was like this isn't good, this is not good.

Then it boun I was like am I going to get lucky and then obviously whenever you start thinking thinking that you're not going to get lucky and you just get absolutely merked. So that's a little bit of the higher level story of what happened. but I just want to be honest with you every single day. I'm more than willing to brag about My Success So it's only fair, honest and transparent when I also share my losses daily.

dgen trade report mine is 6.2k 6.2 th000 don't join I suck usually I'm feeling pretty good about it and I want to be like yeah, sign up I'm crushing I'm the best traitor ever um I'm not. The only thing that I could actually offer you is a AI generated picture of Piper who's surrounded by gold and treasure that I I I no longer have. Um, so let's get into it. I just want to be like I said I'm more than willing to brag about My Success So it's only fair if I share my losses as well.

Uh I wrote this last night. uh I'm not saying I fully remember everything I wrote last night so let's just dive into it together. have I had had a few High noons yeah. But that doesn't change the fact that today sucked balls.

The strategy did end up hitting though. You might be thinking how did the strategy work but you lost money. The short answer is I'm fucking stupid. my posted real time trade sucked ass.

You know my favorite part about like reading this like in retrospect that like once again I don't fully remember I like how I bolded sucked ass I Think that's kind of an interesting tactic. Today's gain was enough to pay for20 years of Discord membership. Uh, also bolded and capitalized. That was definitely an interesting, interesting technique.

If you haven't joined. Congrats, you dodged a bullet. This is the type of marketing that you just don't see anymore. So anyway, the strategy ended up working.

So right now I'm running two strategies Piper and Rue and around 10:15 a bullish signal was produced for a five strength. That's why it was a 2X multiple. Uh, basically three out of five would be 1 x two. Uh, four out of five would be 2X and 5 out of five would be 3x.

That's how like the strength like relates to the actual multiple right here. 2x 2x so you know is a four out of five. But anyway, at 10:13 uh, it called out for a spy put credit spread 485 by 484. Basically, you want to get to the end of the day technically 415 and be above 485 and for the Q's put credit spread 425 spread by 424, you want it above 425.

Both of those hit the integr of both Piper and the R Zdt strategy worked. And if you do the math on this, if I followed the system, you would have made $56 risking 344 and you could scale it up. So if you had 3.4k in your account, you could have made 560, you could scale it how you want I'm basically just giving you the numbers on the base unit so this worked and remember like you might be thinking to yourself, well hang on if it worked, why did you lose money right here I I gave you the answer. it's actually in the third line of the local.

it's uh and please focus on these three words and if you ever have any questions for the remainder of this show or any future shows, it's because I'm fucking stupid. Uh so I I just want to throw that out there like just to clarify like what's happening if you're wondering where it went, ride just like always come back to these three words right here. But anyway, here's the trade. Um I sold a 75 and I bought a 70.

So basically I wanted the S&P 500 Index above 4875 it was above 4875 for most of the day. uh but I cared about the end of the day and I was good until about 300 p.m. and then it was Power Hour where I got destroyed it bounced against me I was like oh am I going to get lucky and I should have as soon as it like started to test it I should have pulled the rip cord then I tried to get out and I hit liquidity issues because no one was trying to buy these contracts when there's 10 minutes left in the day. So like I was trying to hit the market, couldn't get out blah blah blah.

So I basically suffered a Max loss which is bigger than what I even my like system was calling for which is obviously unfortunate if you do the math here. I got out at 490. the max loss was five. So basically I sold for 80 cents I bought back at 490 so it was a loss of 410 per contract multiplied by 15 AKA a 6.2k loss.

So obviously the Tldr is a horrible 6.2k loss. Um, I gave you the weekly results. So thus far on the week I'm now down 2.7k Realized that's obviously very, very unfortunate. Um, ever since I've been doing these daily and weekly reports I was up 11k.

So now I'm obviously now only up five. So technically, ever since sharing all this with you every single day, it's in the positive. But I lost about half my profits. Uh, which makes me want to go full Kyle mode and just punch holes in the drywall.

Um, reviewing it. there was two things that went wrong. and I think this is important. two things that went wrong.

So uh, in terms of the strategy, Uh, this is my first misstep right here. My very very first misstep was I picked the wrong strike. So if you look at the spy and you look at what I called out a 485 485 was literally the low of the day at whatever 3:15 So if you look at where we were, that was roughly equivalent to 4866. so call it 4865.

I was 10 points away from the appropriate level to sell premium. So mistake number one was I thought I knew better than the strategy I thought I could get more money I thought I was like being a little bit too cute. Um, basically I was being greedy I thought I should go for more money. So I sold something that was more risky.

The strategy told me to sell at one level I sold it closer attempting to get more money I was greedy and it cost me money. Um, obviously if I sold at the appropriate level, it would have worked I didn't So even if I decided to sell at the wrong level, the other part of it is probably just like my psychology, my risk management. The fact that I was good, good, good good good good good a little greedy probably could have got most of my profits here before the bond report. Uh, also my my fault I should have known that there was a bond report and as soon as that I heard that it was bad I probably should have taken my profits there.

but no. once again, I was greedy and I held and I held and I held and I held. And really in terms of my system, I didn't really have to do anything until I was getting tested I did get tested but at that point it was so late in the day that I couldn't really properly hedge. So because it was already 300 p.m.

and it wasn't letting me hedge, I couldn't create a new position to hedge it out. So my whole system kind of broke down because of the time of the day that I was getting tested and I tried to get out and then there was just no liquidity. So there was a bit of systematic issues on my side of like not following the systems but then I would say it was like 33% that and then 66% like my own psychology and my own emotional management of the situation. um I think I had another thing in here Uh, right here.

I Took one trade today and it reminded me why I hate trading I thought I knew more than the posted strategy so I ended up taking a higher risk trade than I should have. Did I manage it properly afterwards? Fuck no. LOL I went on tilt and let it blow up in my face I would love to say I learned from this and will be better in the future, but we all know that's not true. Um, so a little bit of honesty, a little bit of true serum from the old High Noon here.

Uh, so just want to be honest, want to let you know where it went? Uh, so obviously on the week now I'm down 2.7k Overall, it's up ever since I've been posting it, but it still sucks to give back half my profits. Not the most stoked about that. Um, but I don't know. All I can do is tell you guys the truth I can't hide losses from you I never hide any of the wins from you.

So I'm not going to hide losses from you either because that's a mess up thing to do so. um I don't know I'm trying to learn the lessons from this but like sometimes you just such in like a mental state that like you can see yourself going on tilt you can feel yourself going on til and to pull out of it sometimes is just so incredibly brutal. um so I wish I were better than that I wish I had more monk likee discipline and I wish I had uh the maturity to follow what my own system tells me to do. but even if I didn't even if I kept those strikes, the strikes that I shouldn't have been in even if I had those um very very Fair argument that like my management of it, was pretty pissed poor.

Did I get a little bit unlucky with when it started to fall apart and I couldn't hedge? Yeah, I could have probably caught those losses in half if it happened earlier in the day because I could have run farther down the trade. Sold those and I would have been fine. Um so there was like I said it was 33% like just not really with the system. It maybe a quote unquote a bad beat, but I would say it was about 66% me just being an absolute fucking degenerate.

Um so so that's that's what it is. It is what it is I wish I were better I know you guys come to me for Perfection but in all honesty, I'm not really feeling so much like the best Trader on this side of the Mississippi today. so I need to earn that title back. Um so cool.

Wanted to go over all of that and for all those who have yet to join the Discord like I said in the letter, uh congratulations, you dodged a bullet because it is. It was not a fun day yesterday. It was absolutely not a fun day yesterday. so got that out of the way.

The other thing I want to talk about is old Tesla Tesla closed out the day at 20783 currently trading sub 190. That means it is down 9% Tesla is getting merked. Uh, before we get into that though. obviously why is it getting merked because of earnings? So after the market closed yesterday, we heard from Tesla early this morning.

American Airlines Alaska Southwest after the market closes today. Intel Microsoft Next week we have Apple Meta Microsoft and I think Amazon I think those are the major Tech plays of Next week Uh, so we're in the heat of it. We're in earning season. We're doing this live Lots going on.

So especially if you're playing individual stocks, it might be behoove you to pay attention to when they are or aren't repeating, uh, reporting? Excuse me? Uh, hang on, hang on. I Don't know why my Zertek isn't kicking in yet. Um, you know when you're on the ground like life's just going to kick. When it rains, it pours, life will continue to kick you and kick you and kick you And that's my life right now.

So anyway, let's talk about it. Let's talk about it. Let's talk about it. Let's talk about how Tesla stock TSLA is getting absolutely merked right now.

The Tldr is they just reported their earnings. they were not so Bueno and then on the earnings call things got even worse. and that's why the stock is is at least at the point that I'm filming this down over 9% So there's a couple interesting reactions to this. Some people on Wall Street have this type of an opinion.

This is from Dan IES a very respected analyst who's been tracking the tech sector forever and for most of the time very very bullish on the likes of Tesla Anyway, here's what he had to say after listening to the earnings call. We were dead wrong, Expecting Musk and the team to step up like adults in the room and give a strategic and financial overview of the ongo price. Cuts margin structure and fluctuating demand. instead.

in all caps, we got a high level View and another train wck conference call from the street price Target 315 obviously not happy. uh if I believe Tesla if you look at the last eight earnings call not I believe I Know this is factually accurate. they've actually missed on six so in terms of odds, it's not so good if you look at the last four. Now the last four earnings they've all been Gap Downs at the next Market open relative to the close so the earnings trend has not been so good.

Uh. overall I Just want to be clear like I'm still bullish in the longterm on the stock. but some of these conference calls they like very very much anger Wall Street So that's more of the bearer side and I understand why that's happening. A lot of people I suppose want like a a a bit more of just like confidence in where their money is being invested.

but another part of Fin Twit is actually reacting the way that I guess Elon himself years ago said people should be reacting. Give this a listen. if you see people panicking then instead of you're saying oh man my Stock's gone down. there's a buying opportunity.

uh a buying opportunity. um and I guess at that point I think this personally will lead into being a buying opportunity I would more than happily buy the dip on this I just want to make sure it's the appropriate dip. I'm not just going to arbitrarily try to catch a falling knife right now, but before we get into the exact details of the earnings I want to hear from all of you: are you going to buy the dip or you like uh-uh more pains coming I'm very curious where the full audience is at, so let me know. But anyway, to get into the actual what happened for more of a quantitative standpoint: Tesla shares drop 8% after company warns of slowdown in 2024.

Tesla's Shares are down quite a bit right now after the company reported earnings that Mis expectations and warned of a Slowdown in 2024. Now to give you a bit more information there, the earnings per share came in at 71 cents. The expectation was 73. The free cash flow came in at 2.06 billion, the expectation was 1.45 billion.

The gross margin came in at 17.6% The expectation was 18.1 We're actually seeing the gross margin continue to drop and drop and drop and that's most likely because of the price Cuts as we've seen a ton of price cuts for Tesla Obviously that's going to be eating into the margins. They did not give a production guide for the upcoming year and you could say the overall Vibe of it was that. It seems to be like the companies in between two waves of demand. It's like in that awkward Lull in the middle right now and another thing that you could safely take away from this entire call is the fact that clearly clearly Tesla is a company that is highly impacted by interest rates as inflation goes up.

as the FED is fighting inflation, as the FED fund rate continues higher and higher and higher, we are seeing Tesla get destroyed by it. Uh, so it would arguably be safe to say like logically if we're like, well, okay, if as the interest rates are going up if that's painful for Tesla when they start coming undone, especially if it hits another technical stride in just like what it's offering to the public, that could be very, very good for the stock, so just wanted to kind of share that. but nonetheless, just obviously Wall Street the analyst: I'm not talking about the retail generic support of Elon but I'm talking about actual Wall Street You could see how many price Cuts there are are. it's down right now and right now.

what do we have? KGI I mean from 309 to 213 255 to 220 250 to 225 300 to 297 310 to 270 229 to 225 223 to 200 255 to 224 So pretty much every major analyst who people pay attention to and please take that with a grain of salt, like they're as wrong as they are right? like I Just want to throw that out there. Their odds are about 50/50 but my point is is you see the general sentiment of every analyst cut their price Target Musk fails to convince Tesla investors to overlook slowdown. so on one side of it you have just what's going on with the vehicles, the production, what's going on with the gigafactories, what's going on with NextGen all that stuff that's like just pure business. On the other side, we had a bit of a social issue with: Elon Remember recently how it came out, he owns 13% of the company and he was basically saying hey if we're going down this path of AI and AI development I want more I want 25% and all of media seem to attack him they're like w you're so greedy, why would you want more and he clarified on the call he's like actually I don't really care about the financial side I want dual class voting he wants more voting power so not not necessarily more financial investment in the company.

It's not like he's saying hey d double how much Equity I have he if anything would be more happy with doubling the voting power of His current shair so that was discussed a little bit and I think that type of narrative like kind of calmed down cuz walshire really came at him for so that's one thing. obviously other things it's just Elon Musk every single day he's in the news a lot of people questioning of like how much time does he have is he dedicating too much time to Twitter AKA X that type of stuff. Um, but obviously if you've listened to any of these calls, it just seems like they're so much more negative and awkward than like you would ever want them to be. It's strange, but anyway, Musk fails to convince Tesla investors to overlook slowdown.

So let's see what what the mainstream media had to say about this. This is a clip from: Bloomberg No delivery forecast. But let's start off with something that Ross Gerber was telling us here on the program earlier in the session here that he was really looking closely at those gross margin numbers 17.6% and when you adjust here for those regulatory credits 17.2 Remember, the expectation was 18. important because aut motive gross margin X those credits slightly above what were muted expectations Tesla still has industry-leading margins for making Electric Vehicles You know, if you strip out Z and you strip out, uh, the benefit of software, they still kind of lead in this space.

but in the final 3 months of 2023, discounting price Cuts using that lever in both directions was a factor along with despite it being a record quarter in terms of sales. uh, you know, an impact on the bottom line, which they they've kind of stayed the course on I Think it's interesting too when we talk about the gross margins holding up. Also, the free cash flow number came in well above estimates moreon the street was only and a half here. Is that kind of a oneof here? or is there a trend line that we should be paying attention to? Well, they're being efficient at a time where they're trying to ramp up production of cybertruck which is a new model.

Uh, you have to spend to bring new product online because of the time it takes to staff up and Tool up new assembly lines and the Investments that are needed for that um at the same time as their profits taking a hit from the macro environment that we're in. uh, but also real fin we've read since read we've had since Zack Kirkon left as CFO and Zack was a very good manager of the bottom line and very good manager of Tesla's cash position. His departure doesn't seem to have impacted that Trend I Want to go to something that Tesla said which makes it really difficult to understand what's going on which is that uh, volume growth will slow. Notably, that's pretty vague and we know that uh for 2023 they delivered a record.

What she's referring to here is they gave no production guidance for 2024. They just said they expect it to slow down but they didn't really give an indication of like the magnitude of the Slowdown So the fact that they're not really ascribing a certain like quantitative measure to it I think is freaking out some investors. especially in the short term. They're like, what do you mean slow down Like why are you not telling us your expectation of how much of a slow down? That's what she's referring to.

1.8 million vehicles and a lot of analysts were anticipating something in the neighborhood of 2.2 million vehicles for this year. What does it mean when Tesla has talked so much about a 50% um, annual growth rate in in deliveries? What's critically important to state is that that 50% Ker, which goes back to early 2021 starting from the end of the 2020 Financial year related to production. So what they're saying on a compound average annual growth basis is that they would increase their production capacity and the number of vehicles they built by 50% they built more than 1.8 million in 2023. Had they maintained that 50% Ker, they would have been on track to build 2.5 million in 2024.

But they're saying the opposite: A they're not giving us formal guidance they've omitted that from the volume the the graph in the deck titled volume. But what they're saying is that while they're ramping up their first Gen models Y and three, they also have imminent plans to bring on this next gen model that we have few details about which will be built in Texas. Um, and for that reason, they're guiding us to substantially lower growth. But that growth again is on a compound basis and it's based on production, not delivery.

Can stol out, right? And if they build less cars, they have fewer to deliver to customers. And when we talk about this Nextg platform, we're talking about the lower cost to den. Is that right? Why why not just go with that Nextg vehicle Makes it sound like it's going to be ramped up to something akin to the Cyber truck? Well, I don't know if you guys have your Tesla Bingo cards printed on your on your anchor desks right now, but this will be A or the question for the call. You would have seen the Reuters report that Tesla has informed suppliers to brace for this.

So that's talking a little bit about the Nextg stuff. They didn't give the most Clarity on the call, but just to play devil's advocate here. they're talking about like production and cost and all that production costs actually went down 3.2% So I think right now the base model to create it it's costing them about 36k and we're seeing a drop. It might relate to the fact that Lithium as a commodity is actually dropping as well.

Uh, so like I don't think the crazy media Narrative of being absurdly bearish is fully accurate right now I Don't think that's completely fair, but I Also, don't think this idea of like oh, I'm just going to catch the falling knife whenever Tesla dips like I should buy it like I think the truth is somewhere in the middle I'm looking to buy the dip I'm not going to catch the falling knife I'm going to wait to see how things play out because obviously Tesla clearly is an interest rate sensitive company. Now, just just to put this in a bit of perspective, because I think there's going to be a lot of Doomsday in the short term I Just want to remind everyone that Tesla company TSLA Let's get some actual facts right here. Uh, it had $15 billion in net income in 2023. That's absolutely crazy.

Uh, right here the Model Y became the bestselling vehicle in the world also kind of crazy. and then they also have 29.1 billion in cash, $29.1 billion in cash, $15 billion in net income and their vehicle the Model Y the bestselling vehicle in the entire world. So just a little bit there of like to depending if you're an active Trader hey play the current Trend But for someone who's an investor I think it's kind of important sometimes to take a step back and understand the big picture. and then also final thing, just for those of you interested in the world of crypto, Tesla's Bitcoin Holdings remained unchanged in Q4 So they are continuing to Diamond hand their old digital gold the the old BTC holding.

So that's what's going on with Tesla and specifically Bitcoin So as I alluded to before I want to know you buying here? You're waiting for me. I Don't think my long-term projection on Tesla has really changed at all. and if anything, I'm going to be patient. Take a step back and kind of wait for that sniper esque opportunity to get some more shares.

Alaska Airlines says Boeing 737 max9 grounding will cost it $150 million Boeing has been going through the meat grinder lately. It just seems like every single thing they do is the wrong decision and now it's actually kind of impacting the airlines that they are providing the obviously the airplanes for. So Alaska That's what they have to say. Comcast Tops revenue and profit estimates despite Broadband subscriber losses raises dividend by 7% So Comcast kind of crushing it recently with the peacock signups with that big NFL deal.

Um, even though everyone was complaining about it, it got a lot of people to sign up. so Comcast whatever executive came up with that idea I'm sure he's getting some fat bonuses. New highs. This is the newsletter for the week.

Sign up. It's free Mac. Locals.com It's in the description of the video. In terms of the macroeconomic reports today we already got uh, what is today? Today's Wednesday right? is today Wednesday or is today Thursday What day it must be Thursday are we is today Thursday it's already Thursday dude.

Anyway, ECB we got their report. They didn't change much. Rgdp came in W way higher than expected. That's why the Market's up right now.

We got initial jobless claims slightly higher than expected. The only other thing really coming down the pipeline today is at 10:00 a.m. new Home Sales for those of you who care about real estate. Just so you know, tomorrow before the Market opens, we're getting another inflation report.

We're going to get the Pce Uh, which is like the CPI report instead of the Consumer Price Index This is the personal consumption expenditures. Uh, they're very similar. The PC reports a little bit more timely, a little bit more broad. So because of that, according to the FED, they actually weigh this report more heavily than the CPI report.

But anyway, I Just want to let you know. Big inflation report coming out an hour before the Market opens tomorrow. Uh, obviously we have all of the we talked about this already. but here's a quick snapshot of all the earnings coming down the pipeline.

Uh, between now and the end of the week. And then don't forget that earnings will be re like kind of running into next week. We're going to hear from Apple Meta, Microsoft and Amazon next week. And with respect to today being actually Thursday I just want you to know that historically this day has favored the Bears, the Bulls have won this day 48% of the time, so it's pretty much flipping a coin.

But when the Bears do win, they win with a greater magnitude. so it's about a 50/50 of is it a bullish or a bearish day. But historically over the past 25 years, when the Bears do win this day, they win it with greater size. and obviously recent years, uh, drop.

Last two years it actually was a bullish day. But anyway, just gives you an idea of the headwinds and the Tailwinds for the day. And then this is just the wrap up of the previous week of the actual strategy, which the strategy is still on a winning streak. It's just me who mess up actual trading.

Five things to know before that stock Market Bell goes Ding ding ding ding today Thursday Before we get into that I appreciate you guys joining in. I Know we started early today. Uh, if you haven't already smash the like button, it does help me out with the rumble and the YouTube algorithm. So Smash It smash It Smash it.

And if you enjoy this type of degeneracy where we talk about the market, the economy, politics, weird videos we find on Twitter basically the random things that come into my mind, this is the place for you. Don't forget to hit the Subscribe button. Ups and down bounds. Yeah, that's pretty much what the market does do between waves.

Uh yeah. Tesla Definely get a little bit slaughtered at a Crossroads What's this? Um, with the GDP coming out GDP Way higher than expected. They came in at 3.3 they were expecting 2% Financial Fallout Alaska Boeing They're fighting costing them $150 million Dude, it is a pain. Uh dude.

Alaska's so pissed. Eyes on subscribers Comcast crushed ITC especially because of that NFL deal I Mean to the point that they raised their dividend by by 7% That is Nuts, Nuts, nuts, nuts. Uh. Elon Musle holds over 387 Million worth of Bitcoin.

All right. Cool beans, cool beans, Cool beans. As of right now Tesla's still down a lot Bitcoin Just under 40,000 but the spy and the Q's are up pretty handsomely in premarket. Hey, I could officially take AMC off my watch list now that I got rid of it and switched it over to Rum Uh, what a relief! What a relief.

Dude coin is getting hit too. dude. Coin: What is going on with coin? Coin Coin coin. Coin is getting murdered.

Rip: can't hold smacked. Can't hold smacked Cloud Flipping over red below the 48 em. This is a negative thing. Wow.

Uh, you want the values for rum? Yes I have them right here. Uh, for the fourth day in the row Monday Tuesday Wednesday Thursday 4 days in a row, the shorts have increased. so as of now Rumble short interest is estimated to be 15.5% Uh, the short score is around 80. Utilization jumped up to 97.

cost of B jumped up to 15% But here's what I find to be particularly interesting and it's twofold, so stick with me on for this. Uh, So right here on Friday 14.87% 15.8 on Tuesday it got up to 18.07% amount of shares out on loan that could theoretically go out on loan at that moment in time. Uh, x divided y so it's a percentage. So basically 97 out of 100 of every 100 shares that could go out on loan are currently out on loan.

which is crazy. Uh so. But remember that that pool changes. people can offer theirs.

They cannot offer theirs. so it does change. Uh, the x divided by the Y both values change. but right now a snapshot.

as of this morning, it is considerably High the volume. A little bit of a volume volum Crush 90 million down to 30 million. so could be volume exhaustion That definitely in terms of price action in the short term seems to favor the Bears, but the fact that they added on new strike prices I Don't know if we can get above yesterday's high I Think the party could fully be back on I Do find it particularly interesting how aggressive the shorts have been getting on rum. Uh, so time will tell to see how this plays off, but it it's getting wild.

It's been wild. and I think it's just like honestly getting more more wild. So that's the snapshot as of this morning as it relates to Rum and the shorts betting against rum. Uh, if you haven't already, if you like this tool that I use to monitor options throughout the day, it is pinned to the top of chat.

If you use the code KES you're going to get two weeks free. so try it out for two weeks see if it's for you Anyway, this is Spock Gamma. This is literally what I use to monitor the net Delta and prices. and I check it on the S&P 500.

You could use it for equities. They have all this like sentiment. They have a ton of stuff going on over here, but anyway, spot Gamma, Shout out to them twoe trial pin to the top of chat if you want to use that. All right.

Where else are we on the day? let me get prepped up? Let me get prepped up All right. So uh, I need to ask Rumble Chat Rumble Chat Rumble Chat Rumble Chat Are you bullish or bearish? on the day? please officially cash your vote. Are you bullish? Are you bearish? I need at least 10 of you to vote to know how? uh, you guys want to play today. So if you're on Rumble right now, go to your chat.

Market At open Do you think the Market's going up? Do you think the Market's going down? I'm asking you for the first 60 seconds of the market. Bull Bull Bear Green Red Bear Bear Bull Bull Bear Dude Five and five. you guys are have all right. We're going to have to restart.

All right Bull Bll Bll up Bll Bull Bull Bear All right. Well, the second vote, the Bulls definitely dominated on that one. That was a bit crazy. Uh, the first vote was 5050 and I Basically just count out the first 10 and then wait for some dominance.

But anyway, the Bulls went on Rumble and the Bulls win on YouTube as well. So you guys are once again voting the same way. The only other person we really have to ask here is the Wheel of Destiny Folks Team Fellow: Deens If you are new to my world of degeneracy at Market Open I Let the fancy schmancy wheel of Destiny tell me what to do every single day at Market Open to see if it can make me money. And to be honest, it's never been wrong because it's a magic wheel.

Obviously, red is bearish, blue is bullish, and then that's the number of contracts I have to either buy or short at Market Open to try to make a profit. It's never been wrong because this is not just a wheel you could get off of. Amazon This is a magic wheel of Destiny and let's see what it tells us to do today. Uh, Bearish by four contracts.

Pretty definitive answer there. Uh, that's that's a bit interesting. That's a bit interesting because that's going against what you guys are saying. That is clearly going against what you guys are saying.

So let me get this set up All right. So 40 n uh, it said four four contracts. All right. So that seems good.

And then you guys are 40. You guys are 47 and 48. So Rumble will lead today. and then we'll attach that also to the YouTube account.

Okay, okay, uh, I think we are pretty much good to go in terms of current standings. Um, if you guys were here for the GDP report, I already did a bit of trading, locked in about 3.5k Basically $250 on 17 different accounts. but the top three accounts are the competition accounts. 47 is YouTube, 48 is Rumble and 49 is the wheel of Destiny.

So 47 this is YouTube currently in second place up 1.4k Uh, first place is Rumble up 1.5k and there's about a $60 differential. And then the actually the wheel of Destiny is about $300 behind. Uh, so wheel of Destiny is account 49. Rumble is 48.

YouTube is 47. So what we're going to be doing to get this set up because you guys are at odds this morning is 49 is the wheel of Des I switched that to four good and I don't think it's account attached to any other accounts I don't believe. So okay, and then 48. You guys are going to go bullish at Open.

Bullish At Open. All right, we are prepped up. I will fire this trade off just before Market Open just before Market Open 48 I Just wanted to make sure I did did this right. 48 is attached to 47.

there's 48 and then 49 is right here. Uh, and today you're actually both trading the same size. The wheel of Destiny called for Bearish Four so I'll have to sell here and then obviously you guys are all going long. You guys are all going long.

Okay, I think we are pretty much ready to rock so we have that all set up. Um, I will switch that back over right at basically 928 929 so we are prepped up for the market open Degeneracy trade. Obviously stoked about that little bit later on I Want to break down kind of a little bit of the updates going on in crypto? There's a crazy thing developing in the options Market specific to Bitcoin, so I'll be covering that. uh in terms of macroeconomic events.

If you're joining right now, you kind of miss a little bit. We got the GDP report this morning, came in way better than expected and that's why the Market's currently up. But then, also, don't forget at 10:00 a.m. we do have another report which is going to be the new home sales tomorrow at 8:30 a.m.

an hour before the Market opens at least the cash session we are going to be getting. uh, the Pce report which is a very important inflation report. the personal consumption expenditure that comes out at 8:30 A.m. E.

What was the wheels call? the wheel was bearish for contracts. When is public getting credit spreads? Uh, it just says coming soon So if I had to guess a month or two. but I I don't know anyone heard of The Mark Norman Drama: Who is Mark Norman and what is his drama? please? We love drama on this channel. We not only are we degenerate Market Traders but we are basically the Chatty Cathy Middle School girls of Drama of the Internet.

Also, why in the world do I still have allergies? This does doesn't make sense. Hey folks, if you haven't done it already, can you just like make me feel better about my life by hitting the like button? Uh I Would very much appreciate that just because is the Best comedian. Mark Norman Mark Norman Drama I I Guess I Just don't even know what this is about. He's a comedian.

What kind of trade is your rum trade? I Have a little bit of rum calls, but mostly rum stock I have like over 3,000 shares of rum stock and then just like a couple calls just in case there's an explosion in the short term. anyway. Bitcoin Recapturing 40,000 Speaking of Rumble Uh, I have it on the top of the watch list right here. Uh, attempting to make a fight back trading at 555 up from like 350 a couple days ago from like last week, but we'll see how things really get rocking today.

On that note, let me switch it over here. actually very quickly. let me write down some levels that I need to track. uh I need to track I need to track five Okay, okay I mean we're going to be what was this bar? So the SPX will be opening basically at 85, that's where SPX will be opening up at Interesante M Amigo Interesante.

All right, let's get Tesla up there because I expect it to be an absolute crazy day for Tesla currently down 88.7% Brutal, brutal, Brutal. Let me get this. Let me get this. Let's get everything set up, everything set up all right.

We'll leave Bitcoin there. Uh, we'll come back to Bitcoin cuz Bitcoin's up there I Want to see how Rum opens? Uh, just with the short interest clearly jumping. All right. there we go.

I Think we're prepped up for the day so the wheel thinks it's a bearish open. You guys think it's a bullish open I Don't know what I'm thinking I'm still reeling from my stupid losses yesterday. If you want to make yourself feel better, you could go read about my losses there on locals I Posted everything in the screenshots and it is. It is what it is.

It is what it is. All right. this trade's going to be going down in a couple minutes. Um, not enough time to dive into the Mark Norman story, but also a little bit of an awkward time for me to fill the Airways So would you would you guys want to? What do you guys want to talk about for like two or three minutes? Do you have any questions? Comments? concerns? uh I mean John Stewart's returning to the Daily Show that's kind of cool.

Uh Trump warns he will Blacklist Nikki haly campaign donors. that's kind of a baller move. kind of a baller move. Uh Mullen yeah, that thing is dead dude.

how is Mullen even looking right now new alltime low. should have bought puts on it such trash dumping. Tesla for Molen Oh man. spy flow.

Uh, the Market's not open yet so the flow is kind of like negligible at this point. Kind of negligible. Uh, do you enjoy Caleb Hammer Videos I don't even know who Caleb Hammer is any news on rum? Uh, in terms of fundamental news? No. but in terms of the the shorts and everything.

I just kind of did a whole recap of how things are structured early this morning dumping AMC for Mullen So basically trading one form of trash for another? I Guess one man's trash, another man's treasure. Why does my mom think my friend is hot? It's probably because your friend is legitimately hot if I had to guess if I If I had to guess it just feels like your friend's hot. All right. Where are we? Oh okay, we're good.

We're all good in the hood. All right. So this is your account 48 attached to 47 so that's Rumble in YouTube We will be going long there because that's how you guys voted and then on the bottom. Which here let me switch this to the one minute uh the wheel says to go short so the wheels account is on the bottom.

Can you guys beat the wheel? Uh I Guess today. Uh, the enemy of the enemy has become the friend because usually most of the time Rumble in YouTube chat are at odds with each other, but it does appear as if today you guys are teaming up to see if once and for all you can battle and beat the wheel of Destiny All right? Uh, it's 9:29 right now. so I'm going to do my best to fire this off at like 929 like 50 55. Like as close to like, basically as close to the actual Market open as I can get and in a perfect situation.

This will hit within seconds and then I could just shut this program down. it's already up. 3K This was what I was trading like basically right before the GDP report. So on 17 accounts making $200 going for little scalps and hey, it worked out.

it worked out, It worked out, it worked out, it worked out, it worked out. Can we have proof of Life on Piper Yeah listen to my allergies. that's the proof that she's alive is because she's attacking my my system. my system, my system, my system, All right.

I Need you? Uh, Order submitted, Order filled, Order cancelled. Well, you guys already hit Target filled and that already hit B Bing B What is this bullshit though? What the fuck The We? They both hit literally at Market Open 150 15075, the wheel got paid half and it traded more contracts. Well, that that's just Malarkey if you ask me. But anyway, the Market's open, crushed, it, crushed it, crushed it.

You guys have been on a perfect win streak ever since January 9th. So if you want to know how many days you guys have been trading, uh, perfectly. It starts on January 9th and there has not been a singular La L ever since January 9th. So count every single trading day.

Um, once you guys 150 150 So the first and second place, uh, are keeping their lead and then the distance between first and second all the way to third is now. I Mean technically it hit, it just hit at half the value. so the distance is getting worse. Um, that's a bummer for the wheel, but it is what it is anyway.

Uh, that's an easy way to make about 4K this morning. So shutting that down if you want to try your hand at any of that form of degeneracy, obviously, check out Apex it's in the description of the video and I think it'll be coming up in chat as well. Uh, the other thing I need to do. The other thing I need to do is see what is going on today.

today today today today did I do this right? Tesla Mom Mom Dad All right. Um. seeing if I could trade on tilt, you know, sling some orders. Here's spot Gamma: Here's the market open.

We don't have really that much data yet cuz it literally just open but flat. thus far we will Circle back to that and see what is or isn't going on is or isn't going on good. GDP Report though Q's taking a bit more of a hit. We'll see how this one ends up going.

We'll see how this test bouncing off of 190. We'll see, We'll see, We'll see, we'll see. Um I guess my question to all of you is right now obviously. I'm sure that U seems like we have a little bit of uptick and viewership right now, so I'm sure there's a bit of interest of what in the world's going on with rum that actually had a nice popped to almost $6 this morning.

Um, but maybe maybe we have some rum interest and some Tesla interest. So for those of you who are here for either of those, let me know your thoughts. I want to have a conversation because uh, basically for the market open I want to watch the first 10 20 30 minutes before I um do anything Matt talk me out buying Lucid at this price I'm on the ledge looking down, convincing myself it's not that far Lucid Sucks Dude Like from a fundamental standpoint, that company