's going on moon gang. I hope that you had an absolutely fantastic weekend and and now it's time for your market wrap up with me matt for today july. 18th and man. Oh man am.

I excited to talk about today first. We'll be getting into the overall market and a day that at first seemed so promising and bullish quickly turned the opposite. I'll be getting into kind of what happened and the values in terms of support and resistance. I'll be watching next you know i had an amazing day.

Though where the meme stocks amc and jimmy very exciting to get into really the whole situation there because they absolutely bucked the trend and then i want to talk a little bit about you know pelosi's and what they do best is insider training. So i have a quick story for you on that and then finally at the end of the video. I will give you my portfolio wrap up for day one in my 50k training challenge against martin shkreli and basically how i'm already kicking his ass now before we get into all that if you haven't already don't forget to hit the like button join up with the moon game by hitting the subscribe button and also if you want up to potentially a thousand dollars from public make sure you check out what's pinned in the comment below no payment for order flow. No market makers a brokerage you can actually trust and now with all that other way.

Let's get rocking well here's how our day started good old jimbo kramer here. Knocking on the bell at stock market open. The new york stock exchange. Kramer was the one who got to hit the bell for official market open and just for a little bit of a story in two different parts for you dow sheds more than 200 points in late day pullback as a busy week of earnings begins on top of that right here you have the.

Spy. Down 083 the q is down. 085 and then russell down 03. Fun.

Fact the last time. Mr. Kramer opened the stock exchange. It actually dropped.

2. So he not the best track record maybe. We shouldn't be inviting him back unless you load up on puts beforehand now the overall market. Hey.

We actually had a beautiful gap up things were looking bullish. We were above this major trend line that you could see right here on the daily chart and then unfortunately. It was there for about half the day really trying to battle it out and then we got smacked all the way down to pretty much the low of friday. The 15th now there were some economic reports.

Today we had the home. Builders report that came out at 10 am. It ended up missing. The median forecast was 66.

The actual was 55 tomorrow. We have more home stuff. And the more home stuff on wednesday normal things on thursday and then friday. We get pmi overall the mega reports this week.

Relate a little bit more to europe than in the us like we get the ecb. The european central bank. We're going to get a lot of more global numbers this week opposed to big things in the us in fact the big things in the us. Are a little bit more related to earnings and i'll be covering that in just a second but the big thing that was really playing out last week was with the cpi report that inflation report.

We're seeing craziness and are we getting 100 bips are we gonna get 75 bips. What's it going to be at one. Point the 100. Bips.

88 chance has now dropped to 285. While the likelihood as of now as of when i'm filming. This is most likely a 75 bips. But we will get the results for that wednesday july 27th.

So. Overall you kind of got the vibe of the day. After kramer hit the bell. It hung out for a little bit.

We had a fighting chance and then it ended up selling off and hey i guess that's the way it goes. But in terms of these important levels to watch before we just get into individual. Equities here's we did have one gap filled this morning to 38525. Hey.

I hope you got that that was a nice. Beautiful trade there are still two downside. Gap. Fields 37905 and.

36940 i will be watching this. 37905. Tomorrow. That is my downside target for tomorrow.

Tuesday july 19th. Just. So. Everyone knows there are some obvious things that can really influence us and right now since we don't have mega macro economic reports it's going to come to earnings tonight.

We have ibm and then tomorrow before the market opens. We have j j. Halliburton lockheed martin and after the market closes on tuesday. We're going to get netflix and then obviously this week.

We still have tesla united 18t snapchat american there's still some big names. This is earning season and for the next two weeks after this week. We're still gonna have mega names speaking of mega names. Today bank of american goldman reported bank of america actually miss on earnings per share.

But hit on revenue. So decent day bank of america revenue tops expectations as lender. Benefits from higher interest. Rates.

Basically. As that fed fund rate. Goes up. These financial plays are going to do better.

And better and better one that beat on revenue and eps was goldman sachs goldman sachs crushed analyst expectations on strong bond trading results shares rise 3 this is a little bit of a bullish momentum sentiment type of a thing because last week we had other financial companies reporting wells fargo city. Morgan stanley that was a mixed bag leaning a little bit more bearish so this kind of changed. The tune and now the financial sector. It kind of brought it to more that neutral potentially bullish like type of a vibe.

But what i really care about and the big influence on the market are going to be some of these major name plays such as apple microsoft amazon facebook and a lot of those are going to be next week. But one to really pay attention to this week is tesla and let's also say definitely pay attention to. Netflix but speaking of apple around midday 1 30 pm. We got some news not so good apple plans to slow hiring and spending for some teams in 2023.

Obviously. The question is why would they do that uh situation not as bullish as everyone wants it to be so obviously. This is a piece of bearish news. That came out today and i want you to be aware of it because they might be kind of setting the thing up for next week.

We're like hey our earnings weren't the best. But like it seems like they're almost trying to feed us a little bit of the crumbs. A little bit of the news beforehand. So i just definitely wanted to share this with all of you now obviously market not the best day nvidia.

I want to get into that in the pelosi's. But amc and. Jamie crush it aims c up. 76.

Jamie up 35. This is awesome and in fact. Let. Me show you this article.

Right here. The fed's escalating inflation fight is taking the last. Bit of air out of meme stock style speculation. According to one expert and hey maybe they're right.

But i just have a tough time believing it when we have days like today in the spy. When it falls false falls even on a nice open and then on the flip side amc gained. 76. Percent jimmy gains 35.

No like i said maybe they're right. But looking the numbers in the face. I find it a little bit difficult to believe just for those of you who are interested amc. Still has a short interest of 18 costs a borrow of 11 and in terms of gme short interest of 22 and a cost to borrow of 36.

If you are watching this on july 18th for jamie. This is the x dividend. Date. The date of record basically.

The people who are going to get the stock split via a dividend. Now. There's some misconceptions here that this is going to force the squeeze. This is going to force all the shorts to cover.

Unfortunately. That's not true i don't want to be the bearer of bad news. Hey don't shoot the messenger here. It's just i see some things going around that like this forces the shorts out it does not what it's going to do is create more shares and then it's going to trade out less of a price so overall.

The company will still have roughly the same market cap. It's equivalent to taking a 20 bill and going to 21. Bills you have more. Bills ie more shares.

But you still have 20 bucks. That's the best metaphor. I can come up with involving all of this but still coming back to this right here. It's perfect that this just came out on a date.

I mean talk about timeliness and then you see the beautiful push up and hold of both amc and jimmy when the market went down and down and down now let's turn it over to our favorite insider traders alleged insider traders. My lawyer told me to say that uh let's talk about the pelosi's and nvidia. So at one point. Today nvidia was up seven percent something was going on in the semiconductor industry and it seems like maybe traders or someone knew about it before we did because.

Check this out us. Senate. Democrat. Leader.

Schumer sent it to hold first procedural vote on tuesday on legislation to ease. Semiconductor shortage. This is good for those companies and as you can see it came out closer to the end of the day. But nvidia was already up on speculation about this and it almost gets you questioning are they trading on this are politicians letting this information out.

And then i remembered hey. I just covered this video four or five days ago. Nancy pelosi's husband just invested millions into nvidia. And sold large amounts of visa and apple stock in call options so right here specific to nvidia.

Which is a semiconductor company they make those processing chips paul pelosi exercised 200 call options or 20 000. Shares worth between 1 million and 5 million. This was reported in mid july. The trade actually happened in about mid june closer to the end of june and then a couple weeks later we get the fact that the government might be stepping in and helping with the industry now.

I said this before i was born at night. But i was important last night this is a horrific look whether it is insider training or it isn't the look of it is just disgusting. I don't even know what to say like the fact that our politicians. It's still an argument of if they could trade or not it's so bad they've lost like they've lost the public's faith especially to anyone who's paying attention to the stock market and politicians.

I don't care if you're left or right. This is something that is just disgusting across the board. So just wanted to really connect the dots for you there at least as it relates to the pelosis and nvidia and the recent political development. Absolutely bonkers on a little bit more of a positive note today is day one of my competition against martin shkreli.

We are going from 50k to 100k that's the challenge. The first one to double their account 50k to 100k or if neither of us can do that it's going to be a two month. Max period and whoever has a higher account value will win if neither of us can double. So basically.

It's whichever comes first well today was day one and i just wanted to show you my account so today realize gains of 1k and i can show you my trades right here basically. I bought spy puts august 5th 385. I have 15 of them i sold eight. I went from 662 to 790 that's how i locked in 1k and then obviously i have seven left over that are running and that's part of the unrealized games.

And then right now the other part of the unrealized games. Is something that i scooped up right before market close and right at the start of power hour. I got some tesla puts july. 22nd so this friday strike price of.

700 i'm in at 1650. They're roughly trading around 1750 right now so that's about 800. So unrealized gains 2k from the leftover spy position that i got early this morning. You could check that out on stream and then the 800 of it that little buffer.

There also from tesla. Obviously half. The spy position in the full tesla position. I am.

Now swinging overnight to see what tomorrow. Brings and really what my goal is is to see if we can get that next gap fill on the spy on the qs. And i think that will bring the equity market down with it and i feel confident in it. Because i think the bulls got a little bit ahead of themselves with the cpi report and then seeing some of the things going on like apple.

Saying. Hey uh. We're slowing things down. I'm just trying to read the writing on the walls.

And it seems a little bit bearish at least in the short term to me. But also to be explicitly clear. I don't think we've seen the low yet of 2022 in terms of the overall market and i find it stupidly fascinating that amc and jimmy are still performing in a bullish manner. When there's legitimate serious concerns about the overall market maybe i'm right maybe i'm wrong if i'm right i think i'll be able to kick martin's ass and continue to on my journey to doubling up this account or maybe.

I'm horrifically wrong. And i'll end up being embarrassed by them only time will tell that's what i have for you today. I hope you enjoyed the video. If you did make sure to hit the like join up in the moving game by hitting the subscribe button and i'll catch you in the next one have a beautiful day.