Yo shout out to Dimitri there I Kind of forgot about that for a second, but definitely pour one out for him. Poor Dimitri you know you hate to see the good ones go and he was definitely a good guy on the channel. A good supporter of the Goonie brand, but Lady Luck said he was no longer going to be with us. so I guess sometimes that's the way the cookie crumbles.

but definitely Dimitri if you're watching on a different account these days, I mean cheers to you brother. I'm I'm happy you found your way back. happy you found your way back folks! today is Thursday June 29th Welcome back to the Mad Core Show I Hope you are ready for a good one. Uh, I'm Matt Cores you're the live show So together we're the Mac Coors Live show.

Uh, we have some fun stuff going down. Uh, you might be thinking to yourself, why are you starting early Well that's because the GDP revision is coming out in a mere three minutes. so I want to pay attention to that because it'll most likely have a big impact on the market and also our boy Rick Centelli will most likely be reporting it and it's always a good day when you get to know what Rick is up to. I'm a little nervous today just because of how strong the post Market action has been.

I bought some puts right before the explosion in the clothes and that wasn't good and I was still kind of right at my wrist. so it's fine. but now that the post Market is even higher, I'm getting I'm just decimated. so I'm I don't really have much good reason here on this at all.

I'm literally basing it on just like Pure Hail Mary play Okay, so we'll see how that is going to play out. but I don't know I wasn't so dumbed to bet more than all the recent money I've had made. but I mean my profits? they're They're within risk right now. So I have some notes Here on a different slight change to the strategy of how I want to do it and it more so, um, relates to the system of pyramiding out.

So I'm making a couple refinements. I did some back testing last night and I'm feeling a little bit more comfortable with this and should be an improvement to the expected value. but I think I'm also going to size down a little bit just to make things a bit more realistic. But anyway, if you missed it yesterday, Powell was doing a speech over in Europe with a lot of other Central Bank leaders, presidents, whatever they're called and him and all this cohort.

They're all very, very hawkish and the market ran up into that. And then we had a brutal sell-off into Biden talking about bidenomics and then after that the market popped a little fake out dip and then then into close super bullish. Really choppy day yesterday. Absurdly choppy day yesterday.

Um, so obviously in those types of environments you probably need a bit wider of a risk, which means you need to size down to keep your overall risk in your portfolio in check. Just obviously some basic things. so I want to talk about that? I Found some crazy other things going on, but first we are going to listen to GDP then we'll do some charting breakdown and all that good jazz. But I hope you guys are ready for a good one.

I do want to properly get it over to where I need it? Where is the CNBC thing? Come on, give us this GDP report, Give us the GDP report. So for today: Thursday June 29th GDP Revision Coming out at 8 30 a.m they're expecting 1.6 1.6 so we are going to be finding it that out very, very soon. Let me make sure all the volumes up for us all right. As of now, there's quite a bit of strength in the pre-market session spy up at almost 438 Tesla up above 260 Apple encroaching on 189 Micron had earnings last night.

they had a narrower than expected loss in terms of eps and then the revenue actually ended up beating so good numbers out of Micron So maybe turning around the ship in the recent downtrend of the world of semiconductors, but we are a couple seconds out. remember when we get rocking with it I better see some Ricks in chat if he's there. Ah man! Rick always makes my day I Think he's my favorite person in the world of Financial Review. Seconds away from initial jobless claims data and the final revision to first quarter GDP Futures indicated higher across the board Rick Santelli is at the Sammy in Chicago Rick Yes, Malically, of course we are expecting our last time around the block.

third time for the Essf 4431 Continuing claims: We could never stress enough how much importance that we put on those numbers. On the GDP side, we actually see a jump from 1.3 up to two percent. It's very unusual to see these types of moves two percent long in the tooth and do keep in mind it really doesn't change any of the metrics for GDP because the two percent or 1.3 is still going to be the lightest that we've had since the last quarter of last year. 2.6 personal consumptions coming in now at 4.2 percent.

Also, a very nice jump from 3.8 on the pricing index 4.1 percent. it was 4.2 In the rear view mirror, it was expected to be 4.2 Uh, 4.1 is not the lowest though. 3.9 was the lowest after the nine percent read, which was the highest in 81. That was in Q2 of 22..

So progress being made, but obviously slow progress. If you look at the core personal consumption expenditure quarter over quarter, that's 4.9 percent. That's one tenth less than the five percent we are expecting. And how does that pan up to history? Well, second quarter of 21, not 22 is a high water mark that was at six percent the highest since 83.

The lowest it's been was the market up. A couple points on this news: I don't and now, so we see that this is also very sticky. As a matter of fact, we've had several numbers of course that were at 4.7 mid 22. So this is definitely a bit on the high side in terms of jobless claims 239 000.

we're expecting 264 000. that is a huge huge, huge, and 234 000 to the lowest level going to the last week in May last week in May And with respect to continuing claims one million, seven hundred, and Forty Two thousand. That indeed is less than the numbers that we were expecting. and once again, we continue to stay below 1.8 million.

On the continuing claims side, interest rates have moved up mostly, and I'm sure they're moving up for a combination of a lot of reasons. Claims are on the light side that keeps the FED potentially hot, and even though our numbers unlike Germany and some German States inflation data that came out today which was higher in most regions, higher than expected and higher than the last look, these were tame. But the Fed's going to have a tough job and the By Administration is going to have a tough job explaining away what Still Remains Sticky but improving inflation? Back to you All right, a little bit of pickup in the Futures right now Equity Futures that is Rick Thank you Rick Santelli Switching news on the Travel nightmare Futures The flights haven't canceled this week. As we approach the July 4th holiday for a look at how airlines travel, chaos, travel, surge, let's get to Philadelphia What's going on here Phil Melissa It is getting a little bit better, but we're already seeing any of you guys traveling for the Fourth of July this week.

But here at Denver generally speaking, things are moving along fairly smoothly. and I mentioned earlier this week, look at the cancellations and the delays that we saw. according to FlightAware now it has improved every single day. A bulk of these a good chunk of these on the cancellation side are from United and United has already canceled 11.

Be careful with United so it is better than yesterday or the day before when it was canceling 26 percent of its flights. a lot of those out of Newark So it is gradually improving all of these. How do they get away from all these lines? They know how airlines are straight up some of the worst places because you will see more. This is completely screw you over like yeah, sorry flying here in the United States the most voucher for a bag of peanuts one week stretch the busiest day as you take a look at the improving numbers.

In terms of Travelers, the busiest day will be tomorrow. That's when the TSA expects to screen more than 2.8 million passengers. And as you can see, we're almost not quite. But we're almost back to 2019 levels.

And you might be saying to yourself, does any of this matter to investors? Do they see the lines? Do they see the delays? the cancellations and say, whoa, this is not a good time for the airlines? Not at all and just they see the opposite guys. They see Delta raising its guidance they expect American United Southwest They expect all of them to raise their guidance for Q2 and give bullish outlooks for the third quarter. That's the reason at least in terms of Delta American and United States And we're seeing real momentum behind the Airline stocks right now, so we'll be here all day. We'll monitor what the Ripple effects have been from all of these cancellations that we've seen primarily in the east Coast, and we're also going to be keeping an eye on that smoke that continues to drift into cities.

Hopefully we don't see any of those ground stops that we saw about three or four weeks ago. Yeah, I was in that very airport Phil One week ago and I spent nine hours in the airport and then had to be over. Nice. That was because of thunderstorms.

I'm wondering. you know we heard so much about shortages in air traffic control Etc How much can be attributed to each? well? Air Traffic Control Shortages do play a role now. Market Topped on the news at 8 30, coming back down which makes more sense. The GDP came in higher than expected I Don't understand that you should have.

that doesn't mean Dot's Inspector General Put out a report last week a scathing report saying they don't have the Staffing that they need at these air traffic control centers. Having said that, Melissa this week, some of these have been brought on by the Airlines. United has its own issues that's compounded what we're seeing in terms of the air traffic control situation, but there's no doubt we're not up to the level of Staffing that is needed in this country. It's going to take some time to get there.

Phil Thank you Phil Leboe in Denver in the recent U.S air traffic disruptions and how the FAA is handling them Billy null Informally, we don't quite need that. so let's check out the Futures Market that's what's actively trading right now at 8 30. When we got a slew of reports, the market pop right when it happened I shared my opinion. they thought it was weird and now the Market's obviously already coming down.

So the major reports we got real: GDP Coming in at two percent, the expectation was 1.4 percent, jobless claims 239 000 expecting 264, and then GDP prices coming in at 4.1 percent expecting 4.2 so that one was pretty close. so anyway, if you look at real GDP coming in higher than expected and jobless claims coming in lower than expected, you know what That tells me that tells me that once again, the economy is stronger than expected. Now at first you might be thinking, well, hang on Why Right away, when you heard a report that the economy is stronger than expected, did you say that the pop doesn't make sense? The pop doesn't make sense Because we actively know that the FED is trying to slow the economy down. They're trying to pump the brakes on economy because of inflation.

They don't want things to be running this hot, they don't want the economy to be showing this many signs of strength, and we're continually getting reports of strength. And unfortunately, some aspects of inflation are still remaining sticky, which is making the job of the FED very, very difficult. So basically, from not 8 32 until now, this movement makes more sense to me than the first initial positive reaction: I I Don't know. This was definitely some form of shenanigans to get this pop-up and it even came on pretty considerable volume.

But one thing I do want to point out to you for those of you who are volume Traders here, let me just hide this for one second. uh, you're gonna see this that yeah big volume pop and then it kind of dance around on little volume And as we started to sell, the volume did start to increase. A little bit of a pause on a bounce back, but if it flushes again and the candle gets even bigger, well, you could say that the sell-off at least in the very short term. so on a relative basis, a smaller sell-off would be quote unquote, confirmed.

obviously. I have some levels of support here I'm watching four four two five four four two four I want to see how it reacts to that but also watching with volume. but I I Don't get this pop at all. The economy is good.

Kind of reaffirming what all the central banks were saying yesterday and probably again this morning. Drum pal did speak at 2 30 this morning, but these people are hawkish. Inflation is really, really bad right now and it's not coming down. In fact.

Dronepal, the chairman of the FED yesterday, said his base case essentially is that they're expecting two or more rate hikes as in not just 25 bips and another 25 bips. potentially more with that 50 bits in like cumulative ad kind of being the base case right now. so we are still kind of in this like I guess Market situation that is blowing my mind if you look at things like uh, Microsoft Tesla Apple Nvidia they are so all evidently fundamentally overvalued. They're like there's there's no fundamental analysis saying yeah, no, these are good and they should probably keep going.

No, that that does not exist. We know things are overvalued and the FED is fighting the overall economy and thus putting downward pressure on the stock market. But this is where things get tricky because remember, this has basically been the name of the game for the past like couple weeks now. the past month For sure of just because things are overvalued, just because the FED is finding the economy doesn't mean it's going to fall.

The day that you YOLO into puts the market can remain illogical. far longer than any of us on this entire planet can remain solvent. So you might be doing a little bit more of a medium to long-term breakdown and be like dude, things are super super expensive right now and sure, Okay, you might be right, you might be wrong, but if you're making short-term trades, it doesn't really matter. You need to be doing an analysis for appropriately as it's like related to the time frame that you're on.

So if you're a day trader, a short-term swing Trader pretty much what you care about is just current technical analysis if you're doing more of long-term investing. okay, that's a different situation. and whatever's happening on the whatever, the 5, the 15, the daily chart doesn't really matter to you, so there is a fair argument to be made of your style of trading. There's certain things that you should give more weight than others.

So yeah, we can sit here and have a discussion of what's going on in the world of real estate, What's going on in the world of student loan repayments? What's going on with the FED What's going on with the economy? the inflation, all that stuff. But if you're a day trader it, it truly doesn't matter A day trader. It is very, very possible for every single signal in the world to be bullish and we still fall, or for every single signal in the world to be bearish and the market still goes up. It's not like as much as people think that the market is an officially efficiently priced mechanism.

I Wholeheartedly disagree. It's very efficient, but that me? That doesn't mean it's perfectly efficient, and right now it's like pop in the market. I Mean here's even an example of it: The market popped, then vomited, and now we're kind of coming right back up to where we were at the start. I Mean clearly there's inefficiencies every single day in the market.

So to believe that like yeah, the market is fairly weighing all the information that is per currently available to you. I I Just don't buy that premise. And in fact, there's a lot of studies that kind of disprove the fact that it's perfectly efficiently priced right now. I Believe the market has put the cart in front of the horse, but that doesn't mean it's going to get fixed today.

It might get fixed today. I Have no idea it might be in a week. It might be in a month. But right now there's very serious negative things going on and considerations that we should all be thinking about.

But when I say all that, that doesn't mean that we can't have an absolute Ripper of a day. The past two days have actually had really nice bullish movements. To the upside: So as an investor, there's things you have to consider as a Trader There's things that you have to consider. and to be more specific as a Trader you have to look at the time frame of the trader.

you are you a day trader? Are you a swing? Trader Are you a longer term swing? Trader Or are you like holding for months and months and months like that type of a thing. So all fair things to consider and I would actually argue. If you want to be successful, they're things that it's a necessity for you to consider. so we're going to be watching this.

But anyway, the reports came out at 8 30. That's why you saw the explosion of volume fake out pop to the upside. quickly vomited now making a retest of yesterday's high at 443025, bounce right back up there getting a little bit smacked. Volume is dying off I Want to see the reaction to this area which is just the support and also the high from two days ago.

So we're at yesterday's high and potentially targeting the high from two days ago. I I Really like to know those levels I look at the last two daily bars I Like to know where each high is, where each low is. They communistly act as support and resistance I Want to know if we're breaking down breaking out. To be fair here, if you look at the daily chart of the Spy ever since Friday June 16th all the way up till Monday June 26th.

So 10 calendar days lower highs, lower lows. The trend was evidently down, but everything changed on Tuesday June 27th where clearly we got a higher high, higher low which was also continued yesterday Wednesday the 28th. So if you were to ask me right now, just a super basic rudimentary breakdown of are we in a bull phase or bear phase the way I look at charts the way: I consider price action I would say that this setup here these three bars from Monday Tuesday Wednesday Basically, this whole week I would say yeah, the Bulls are in control I see higher highs I see higher lows It's kind of difficult to argue that this would be a bearish setup now. obviously that could change if we get below 434.41 and especially if we close below it because all of a sudden that might be a lower high setup.

But as of the current information as of what's on the chart right now, yeah, I would argue that the Bulls are in control and that's painful for me to say because I've yellowed pretty much half my account into puts because I was stupid and broke my trading rules, but obviously that's more of a discipline emotion thing rather than just doing basic technical analysis. So for me, as of right now, when the bell goes dingy, ding ding ding, I'm open up with a bias towards the bullish side and that does not change until we get below 434-41 and then it would be more so cemented like if we actually closed below it. Um, so I'd be paying attention to where we actually closed I'd be paying attention to the volume on the day. I'd be paying attention to like what the market might be thinking about the Pce report coming out tomorrow morning.

so there's a lot of things in flux here. but if if we're above 434, 41, I'm leaning bullish and if we get above and hold below above for 37, 40. I'm really looking at this upside Gap fill of 439 as a very reasonable Target the S P 500 or I should actually say the Spy The ETF tracking the S P 500 has an upside Gap fill to 438.97 which is the low from Friday June 16th. so just want to put that on everyone's radar.

What is this right here? First quarter economic growth was actually two percent up from 1.3 percent first reported in major GDP revision. the U.S economy showed much stronger than expected growth in the first quarter than previously thought, which I Know it sounds good, but it's kind of not good when we're actively trying to slow the economy down. And I say when we're I'm talking about the Federal Reserve and all those Fomc meetings and the fact that inflation's too high. So we are in that upside down world where good reports for the economy are kind of bad reports because it's going to cause the FED to be more aggressive in their hawkish, non-accommodative stance for the economy.

Stock futures has rise slightly as the market nears the end of quarter and the first half. So this Friday is the end of the week, the end of the month, the end of the second quarter, and obviously the end of the first half. So I wouldn't be surprised if there's just a lot of movement, a lot of volatility, a lot of swings, not only because of the reports such as the GDP report, the Pce report, and also what Pal does or doesn't say, but on top of that, you just have a bit a lot of money that's going to be doing repositioning. Uh, when you get to the end of the quarter, the end of the month, and also heading into a holiday, there's a lot of repositioning going on now.

I Wish I could tell you if it was bullish or bearish. but if you look at the data, it's kind of 50 50. What the data really tells us is that there's just big swings, but it's not like this is commonly bullish or commonly bearish. We could talk about seasonality, how the end of June is usually pretty bearish, but then all of July is the big pop that's seasonally common, but it's also not a guarantee.

It's not like that happens with a hundred percent accuracy. That's the commonality. But obviously, who says that we're necessarily living in common times that the Reserve says 23 biggest banks weathered severe recession scenario in stress tests? So before we get on to what's happening today and what we should probably be paying attention to I Still want to give you a better recap of yesterday. So yes, Powell was speaking at 9 30 in the morning.

In fact, he spoke again today at 2 30 in the morning. We could look at the London session if you want to see the craziness in the market. The market popped, rallied hard, and now we're kind of giving it back a little bit. Uh, that was pretty much the overnight session, especially if you're a UK Trader But anyway, another thing that happened was the FED bank stress test.

and basically they looked at 23 of the biggest banks and they wanted to know: could they absorb losses and also continue lending money if unemployment went up to 10 and the stock market plunged by 45 And surprise, surprise, they all passed. Uh, I mean I I Don't think they were really going to do this test if they couldn't but that's what it is absorb. Law Offices continue lending if unemployment go and it's roughly in the realm of 3.5 right now, all the way up to 10. And if the stock market were to lose 40 45 I Believe it's 40 45 actually.

so that was the test that happened yesterday and obviously that added some enthusiasm to the market, which is still a little confusing to me because like, obviously they're gonna pass like I mean they know it's coming. We know what the test is. It wasn't like a pop quiz or anything. But anyway, here's what Bloomberg had to say about.

Let's start off with their 23 bank stress tested in a little bit of different way than what we saw the last time all 23 passed. Yeah, there's certain parts of the test that were obviously a little bit more stressful than previous years, but when all in all, all the banks had passed. Pretty clean read: We have had years in the past where there are conditional failures or constraints on the banks, but the clean read is a welcome time this time around given the stresses we've seen in the banking system. I Will say we should talk for just a quick moment about the extent of the losses they faced.

Okay, they're about 540 billion in losses that the banks faced under these scenarios. most of those losses 504 things like loan laws, provisions on credit cards. But you also did see there was an extraordinary Market shock this time around. While the banks with the large trading desks have passed the stress test, the losses that they have absorbed are almost 100 billion dollars in losses.

So that shows you the extent of the losses faced by the trading desks alone relative to what you're seeing at the large credit card companies for example, or other companies with large ones. So I mean not not to poo poo that, but is that a lot I mean because when I hear you know you talk about 100 billion laws and then the 500 uh here I mean I Know that's a lot of money, but when you asked to say that total banking system here, that's still a small fraction. it's a less than a fifth percentage of banks know that these are the Behemoth Banks But if you think about 541 billion dollars in losses and almost 100 coming just from the big trading desks, you decide right beyond that. The reason that they're doing this is there's an expectation that while this doesn't really count towards any future Capital Constraints moving for this test, it could be a bigger deal for them moving forward.

And that's why we watch obviously things up on the nuclear normally. Uh, when we get these stress tests, there's usually a Florida headlines where all the things. So we're going to raise this dividend or increase this buyback. Are we going to see that today? We should wait this time around.

And now comes the comments that come between the Fed and the banks. And so the expectation for the market is that most of these banks will start to announce by the end of Friday Friday after market close. but you also have to keep going into a weekend probably not doing anything I Did National Rules Basel 3 End game That There could be a sense that there's really a lot more on the horizon that these Banks might face when it comes to Future regulation that could really start to constrain Capital Romaine I Do want to also point out some of the banks here that have also met their minimum Capital requirements in this stress test. And the reason I want to do that is because when you look at the banks that have met either the minimum tier one Capital ratios or the supplementary leverage ratios, you have a scenario in which you start to ask whether they start to raise more capital and markets, whether they go to the bond markets for example.

Yeah, and so this is things including for example, for supplementary 11 ratio that is UBS that is Deutsche Bank These are the U.S units. That is true, we're good. With that, you get the point. 23 Banks Past the stress test.

So good. Uh, what's not so good? Justice Department charges 78 people with 2.5 billion in health care fraud. I'm bringing this up: not the most direct impact on the market, but it's nice to know that our Justice Department actually does something I know in here. Some of you probably have some legitimate gripes wondering about what the Doj does or doesn't do.

So I would say this is a win catching 78 people who are fraudsters with a 2.5 billion scam. So Doj I Guess maybe finding some money. You know, catching some people that they should be catching a little bit of a positivity there. All right.

So this morning now let's look forward that all went down yesterday. Let's talk about was going down all right. So we got the GDP report. They were estimating 1.6 on market watch, but according to CNBC we're expecting 1.4 It doesn't matter.

The number came in at two, so higher than expected. They were expecting initial jobless claims at 265, but it ended up coming in at 239. Now the party does continue. Tomorrow we get the Pce report.

another inflation report that comes out an hour before the Market opens tomorrow. Very important. Massive impact on the market. Will be paying attention to it.

Uh, and I Forgot to mention this, but at 10 am today we get pending home sales. So if you're in the world of real estate, probably want to be looking at that. uh, after the market closes today Thursday We do get the report from Nike Any of you guys want to check that out, make sure you do because there's going to be some movement in Nke. as you can see.

Micron reported after the market closed yesterday did pretty well. My Micron had a narrower than expected loss and actually beat on Revenue. So mu the ticker symbol for micron, which is a semi which a lot of people are paying attention to Nvidia AMD Avgo all those good guys. Um, you.

We know that that's going to be a little bit of positivity there for sure. I Do want to follow up on some news that we had here because we talked about the recent retail stock darling. Lord sound Motors ticker symbol r-i-d-e associated with the Workhorse These were the stocks EV especially Evac plays were the main stock watch for retail in 2020. Leading up to the Gme craziness, these were the stocks that everyone was talking about and it was because they were just ripping I'm talking about Workhorse highly on Lower sound Motors Nikola Chargepoint uh, fuel cell plug.

It just kept going and going and obviously Tesla was in that group. but there was this little cohort of SPAC EV plays or just Evie plays like small companies that were ripping, rip and rip in Lucid kneel. There were so many and it was. It just seemed like a money printer every single day.

They just kept ripping, ripping, ripping and surprise surprise the bubble. When it popped, it popped hard and one of them that's kind of getting crazy is actually Lord sound Motors ticker symbol r-i-d-e very associated with Workhorse which if you remember that in 2020 was the company uh EV company They did like mid distance delivery and a lot of people thought it was going to get the USPS contract. uh and it didn't. and then the company crumbled with the whole EV spec little guy startup.

like that whole world blew up in our faces. but anyway, this one associated with Workhorse uh I Believe the guy who started Workhorse ended up moving over and running Lord sound Motors Uh Well, we all know recently that they declared bankruptcy. they're in a court case with Foxconn and the whole situation got a little bit more weird when the CEO sold out all of his stocks a couple days before they announced bankruptcy. which I I mean I put it out there on Twitter I think it's absolutely absolutely important I think it's absolutely disgusting to me without being a lawyer.

that's the definition of, you know, insider trading. But anyway, I wonder if the court cases will ever figure that out? But here's the recent update: getting a little bit more strange: Bankrupt: Lord Sound says it held confidential settlement talks with the SEC so apparently this thing was kind of fraudulent from the get-go At least that's how it seems to me. bankrupt. Lordstown Motors has had confidential settlement talks with the U.S SEC which has previously inquired about whether the EV startup misled investors in relation to its merger with a blank check company when it went public in 2020..

Now remember a blank check that's another name for a SPAC play a special purpose acquisition company. It's just another way for a private company to hit the public markets. You could do direct listing, you can do an IPO or you could do a SPAC merger, and a SPAC is basically picture a pile of cash that already does all the legal filings to be on the public market, and then that entity ends up buying all or a portion of a private company to give it exposure to the public market. This was the hot thing in 2020.

You might think of the characters such as Chamath Polyapatia he's a billionaire. he's now in the all-in podcast. That's where people like really started to learn because he was backing all these specs in 2020. And it was.

It was the absolute retail craze right before Gme. So think of 2020, world's just shutting down. Those were the stocks that were rippity, skippity Duda And surprise surprise, the bubble did burst. One of them clearly right.

Lord Sound Motors which was an EV play. but uh, for those of you just to remember it really quickly, it was more EV trucks and they actually look kind of cool, but apparently it was just all Bs lower sound lower Says that the Sec's investigation could result in civil claims, but it's not yet known whether discussions will result in a settlement or future litigation. The SEC opened an investigation into Lordstown in early 2021 after: Short Selling Research firm Hindenburg research the same player that has just been crushing all these fraudulent companies recently. What was the most recent one with Carl Icahn IEP icon Enterprises just calling them out.

We don't know if he's right or wrong yet, but IEP is definitely down considerably. Push a report that alleged the EV startup and certain Executives made false statements while pitching its merger with so-called Special Purpose acquisition company including about the number and validity of pre-orders for its electric pickup truck. So I remember going through this: This is roughly when I started my content creation career and I remember tracking. The stories of the pre-orders were astounding.

That's why everyone was so excited about riding a little bit of Workhorse but really, ride as in Lordstown Motors Everyone stoked because the pre-order numbers were Sky High in numbers like this company's about to crush it and then Hindenburg came out and said actually these are all fictitious, the information being pitched to the world and also the company that was going to merge with it being fictitious and now the SEC has been looking into it for about two years. they're filing for bankruptcy. It's a complete mess and it kind of remain. Reminds us that there's not really easy money in Wall Street A lot of the times when something seems too good to be true, it is in fact too good to be true and just absolutely decimated at this point.

I Believe Right now as I'm filming, this ride is still actively trading, but it's getting absolutely pulverized so just want to give you the update on Lordstown Just kind of a blast from the past of what was going down in 2020 and in all, like fairly to stay. Pretty pretty sad ending with respect to today. In terms of seasonality. Thursday June 29th I Would actually say that the Bice is leaning bullish I wouldn't say it's neutral I wouldn't say it's full I'm bullish I would say it's somewhere in the middle.

The Bulls have won this day 52 of the time with the profit factor of 1.48 If you don't know what profit factor means, it means for every dollar you put up you put on the table, how much have you gotten back 1.48 So okay that that means it's positive. If you're above above one, that means you've made money. If you're below one, that means you've lost money. So this one it does have a positive return for the Bulls but not like an outstanding one.

So I Just want to let you know the seasonality of today and this is the equity curve of buying it open, selling it close in the S P 500 futures Market on this exact day over the past 25 years. So just to give us a good data set, five things to know before the Bell goes: dignity: ding ding ding today Thursday June 29th pal Looms So this has been a little bit strange. Every Time Pal keeps telling us that he's going to kick the market in the ball, sack the Market's like, yes, we love that and it rips higher I don't get it I don't get it at all I've alluded to this even earlier on today's show of hey, I think the cart's in front of the horse. this is my opinion.

Uh, obviously the market keeps going so you could fairly say that I might be wrong here. but to me I just don't see we are fighting serious headwinds called the Federal Reserve and the markets like bring on the pain, we're taking you to the mat. Powell is doubling, tripling, quadrupling down on being hawkish and the market as of now is just not buying it. But all of a sudden If the Fed keeps going and they keep pushing until more things break such as I don't know Regional Banks I I Just don't see how this plays out in a calm, soft Landing type of manner.

all about the game and how you play it. So this is just recent commentary from the CEO of Microsoft saying they don't really want like exclusive games anymore, even ones that are exclusive to Xbox He's like dude, all these games should just be all cross-platform passing grades. This is talking about the bank tests. We talked about that all 23 passed and that just had to be.

It's a stress test of if things got really bad would you still survive as a bank and 23 of them all 23 tests that did pass bed pass Great beyond. So interesting situation with Bed Bath and Beyond and really the sub asset Buy Buy Baby They're running two separate auctions like one for the IP and then one for the actual Buy Buy Baby and it's kind of getting trained. but Overstock picking up all Bed Bath and Beyond for very very cheap I Believe 23 mil if memory serves me correctly. Still no Clarity out of Russia.

So this has to do with Evgeny and Vlad and the Wagner group. And like the 36 hour coup that maybe was a coup, maybe wasn't a coup, just a bunch of crazy stuff there. So that's the major headlines for the day when I'm personally going to be looking at comes down to right here: I Am bullish above four three seven, four four Bullish above yesterday's high targeting the upside: Gap fill of 439 I am bearish below four three four four one yesterday's low So you might be thinking that's really rudimentary. You're bullish above yesterday's high and your bearish below yesterday's low.

Yeah. I'm a stupid person I Like to keep it simple: If you have some massively over complicated trading strategy, there's a good chance that it's just smoke and mirrors. Some of the best trading strategies I know of that I've seen that I've ever used or commonly like. comically excuse me, they are comically simplistic.

You don't need to over complicate it I Like to know the current trend on the daily chart. So obviously we were trending up right here, trending up right here. Then evidently we were trending down right here. I Like to trade on the shorter time frame I like to trade with trend on the larger time frame.

and then most recently, we're bouncing back up. So I would like to trade with Trend and then obviously, if you were in astute viewer, you could be LinkedIn Why do you have puts? And the answer to that is because I'm fucking stupid. That's why I have puts right now. I Don't have puts for any good reason I have puts because I'm an absolute dipshit.

That's why I have put. it's because I take my rules that I've spent years and years creating and I just yeed them off a cliff like just absolutely rip them off so don't look at my portfolios like oh wow man, he's like really following his system solidly here because I'm not I wish I could It makes me scream at myself, Do you know why I Run up the stair stepper for six hours every single night with a barbell 135 loaded up just screaming weird chance in languages I don't understand while listening to political propaganda from Eastern European companies countries that I still 100 don't know. it's because I hate myself. It's because I don't understand why I can't come up with a little bit of discipline so when you see my positions, don't think wow, he did that for a reason.

The reason why I do my positions is because I'm an absolute dumb fuck. Let's just get that out there. So anyway, Market Bouncing up. That's the trend.

Over the last three days, the trend would change above four, three, below four, three, four four one or it would get improved and set up 439 if we get above yesterday's high. So that's what I'm looking at. that is 100 what I'm paying attention to. We can make this simple.

We don't have to over complicate it. We don't have to make it anything special. We don't have to have 19 different technical indicators and be like I'll tell you the secret you sign up for my Discord blah blah blah blah blah fucking People try to make this so complicated. You try to follow Trend and you look at your reward versus your risk.

So many people try to over complicate this game. You ask yourself, whatever time frame you're looking at, what's the trend in that time frame and what's the trend in a time frame that's slightly larger and then you ask yourself if you get in with that Trend Right now, what's your risk? What's your reward? It's It's pretty simple. We don't need to over complicate this. We're not like trying to figure out what's on the other side of a black hole.

Sometimes it really is as basic as risk and reward. So going off of that, there's some other things I do want to get into today, so let's just put a pin in the whole stock market talk. I Wanted to let you know that maybe you were here thinking that. unfortunately it was Russia versus Russia Russia versus Ukraine But apparently Russia is now losing a war in Iraq Is this going to play? Uh, what? What is set up for me just to have this pause out? man? I thought that was a really good lead-in too.

I Thought that was a super good lead and now we have to go through this awkward thing. He's losing the war at home and he is, uh, become a bit of a flyer around the world. Uh, he's losing the ward in Iraq It's hard to tell, but he's clearly losing it. so there's that.

Apparently he's fighting a war in Iraq So a couple of decades late there brother. Another crazy thing is I guess France Over the last night, well yeah, and roughly when we were sleeping. uh, riots crazy Look at this. France is Going Bonkers right now.

so France chaos has erupted in France due to a 17 year old boy being shot by the police in Nanturi. Absolutely crazy. The other thing I found out I mean it feels like Twitter is being a little bit more Twitter than normal. Uh, where was it? Where was it? Where was it? No, no, Where are my tweets? Where are my tweets? Where are my tweets? Oh right here.

Um whoa whoa whoa Is the guy who runs the biggest spaces on Twitter or fraud? I'm seeing some crazy stuff on my feed. If you have relevant info, please comment it below. So I got on and I Saw this insane stuff about this guy right here. He's currently running a space with 4.7 000 people.

Mario No, no, no fall. Uh, apparently he's being accused of crazy things. so these are allegations. Uh, he has not been proven to be a fraud, but he's accused of being a fraud and it's kind of twofold.

One on like a financial scam type of an accusation and then the other is more of like how he even got to be the biggest Twitter space holder. And apparently he's being accused of just spotting it. So buying a bunch of Bot accounts they went in and like if you have more than other people who are currently doing spaces well yours is more attractive. So then if you have fake engagement that actually prompts more real engagement.

So I want to be clear, these are all allegations. Nothing is proven I'm not telling you this is a definitive fact but I mean check this out. Check this like it. it truly is crazy.

If this, why is this loading like horribly there we go that took forever Thanks a lot NBC News FBI and SEC responded complaints about Twitter Audio star Mario He has rapidly gained online Fame and been boosted by Elon Musk denied any wrongdoing. so as of now it's accusations I Want to be explicitly clear about it, but it seems to be very, very serious Federal Authorities are reviewing complaints filed against Mario an entrepreneur who has emerged in recent months as one of Twitter's biggest audio. Stars According to two people who said they spoke with the FBI and SEC Chet Long, a retired U.S Air Force analyst who worked with Mario as an advisor and halts a former contractor for uh Mario said that they had eat spoken with Federal authorities in recent days and this all comes back to uh they're accusing him in certain business ventures of not paying him and then other times they're like according like it's the hot gossip is more on Twitter but basically it's saying running a financial scam this is what he's being accused of I don't have the defendant of Bruce I just want to let you know the story and not paying people and then also um, just how he got his stardom on these Twitter spaces saying like just buying Bunches of Bunches of Bot accounts. So obviously to be fair, on the other side of the story, Mario is completely disavowing it.

He's saying that it is just completely false and these people have it out for him. So obviously I I don't know who's telling the truth here I Think it's absolutely crazy. Actually I could show you the Chet long account so chat log. This is one of the people accusing him.

Um, where are we? Where are we? Where are we? This not only attempting intimidation of an informant regarding a criminal matter which is illegal is also absolutely disgusting and shameful that Mario and his team would attempt to sort of tactic. When my wife and I just lost our unborn child, having PTSD or any personal medical issue has not had an impact on the ability of agencies involved to do their work. As for a foreigner to draw an image of medically retired, U.S Service people as a rational when it's not conducting an investigation into their action speaks louder than swarm of locusts. Wait, what is this about That's pretty wild.

Dear Chet Oh, this is one guy that's commonly in the space Call. I'm ready to inform you that I am currently preparing a thread article to address several aspects of your story encompassing your military service tenure at IBC involvement with Mario separation from IBC allegations leveled against you in Mario and any personal matters that may influence your decision of making abilities. It is my intention to adhere to the principles of journalistic integrity and ensure the article maintains accuracy and fairness. In light of this, I cordially invite you to provide your statement on the matters.

your input is the utmost importance. Uh, utmost importance matter attacks in my attention blah blah blah. In light of that, uh, your input is the utmost importance of maintaining the integrity and comprehensive scenario. Please indicate your interest in contributing to the thread slash article.

So this dude I mean is commonly with Mario and chat speaking I mean I bet if we go into the call right now, is he in here? Oh, he's usually up there I don't I it's crazy I don't know who to believe so there's that. but that wasn't the main thing I was looking for Chad and I think there's some so right here. Proof that Mario Bots his Twitter Elon So something about like how much they were paying Strategy: achieve a hundred thousand Twitter followers for Mario over the course of 10 weeks by providing engagements following so um, their net follower Target So it's just like a bot system that's 100 possible. This is the other guy that was in the article of just saying he wasn't being paid properly Mario The host of The Biggest Twitter spaces always claimed he never used bot.

he's claimed there was Zero evidence. However, in these leaked chat messages, Mario's employees discuss the perfect Bots to boost his spaces. Uh, so let's look in this. if it works, it works.

Do you think we could be able to scale it to 3K to 4K accounts? we can get through about 50 to 100. today. when we were creating an account for the long-term Health we want them to last more than a week. This is a manual process where we warm the accounts.

they are age years 2010 to 2015. we also have an automated flow where we can create 100 accounts per 10 to 20 minutes and the accounts are formatted with Nft Profile Pics bios but also they are created same day. So um, they're just trying to like scam the Twitter system like it truly is wild. um I I don't know I I Feel strange about it because like it is the bigger Twitter the biggest Twitter space.

Uh but if it's all fraudulent and it's now in the world of being promoted by Elon like Elon's a fan of it. Uh and it's kind of I don't know. It almost feels like a situation of like fake it till you make it like they faked their size and yet that big size eventually got actual organic growth and now I think I mean I Don't think anyone's accusing the current numbers of being fictitious, but it's truly crazy. um Mario The guy behind the big Twitter spaces stated he did not scam Millions he accused me of extortion.

hey Mara why is your general manager trying to send me money? So I stopped talking about your scams on Twitter Uh I Hope you're good if I convince Mario to sell a little. Would you all good? How are you? What do you mean I'm good man I Want to try and end the bullshit happening before you guys make it worse for each other I Want Mario to pay you money and stop posting stuff. Is it something you are open to do? I'm asking you before I ask Mario Uh so it's kind of one of those things that like it. If you are completely like innocent, would you be doing this right now? Hey Frank maybe you and should I do a space about I think the spaces are becoming harmful and I'm worried that he will discredit what Elon is trying to achieve with Twitter spaces.

This guy Kim.com is also a big attendee of these spaces. Uh, it's becoming like a truly Wild Thing a truly Wild Thing More details Elon Musk We have I believe if any of you know it off the top of your head. uh I believe someone made a video of this being a scam. Maybe we can find it because we do have quite a bit of time to kill today.

Uh, because we started so early. Mario Novel: Let's see I think there is a big account on YouTube Mario Fall Scam. Let's see what comes up. Let's see what kind of info they have.

Um, scam. This was seven months ago. Five oh so people have been making upper is this account upper echelon, upper echelon. but they've been talking about it for months.

I Was completely unaware of that. Five months ago. 17 hours ago. the Grifter's manipulating.

Elon Musk Uh. and the Round Table that's 20 minutes. Is there a short one? Um, like man, these are all six months. Six months.

So I guess it's been going on for a while. How long is this one? 19? Why are they all so long? Does anyone have the summary? Well, this one seems to be the most recent one. Let's see what this is about. We're gonna go on 1.5 x Lately, YouTube has been telling me that regular viewers aren't watching as often.

Let's change that. How do we change it? Simple I make content that all of you want to see and I think today. I've got something pretty fantastic. Who here knows about the Rising Twitter Celebrity known as Mario This is a big account 647 000.

How about Elon Musk Yeah, a lot more people know that name, don't they? Well, these two celebrities, one famous on global scale probably going down in human history, the other writing cocktails and leeching success from him are becoming eerily well connected. You see. Elon Musk After his semi-reason Twitter Bio has leaned in hard on the angle of what's called citizen Journalism running parallel to this. Mario Nathal has risen to stardom on the platform by running what's called Twitter spaces with millions and millions of views regarding contemporary issues, pop culture topics, and most importantly, breaking news.

Like when you said that, Demar Hamlin was dead. In essence, Mario has become the poster child of Twitter and believe it or not, Elon Musk Directly put in there, there are a lot of interactions between them, starting out with replies and memes, but culminating in direct recommendations publicly by Elon Musk to watch Mario's coverage of a potential Russian coup. that's an entirely separate issue one I don't even want to get into right now because of complexity. I have some opinions, of course, but right now they're just that opinions.

But the point remains, through a multitude of online exchanges, Elon Musk has essentially turned Mario and the fall into the public face of Twitter journalism. I'll keep this part brief because the reality is, there could be a feature-length documentary about the illicit activities of Mario in the fall, and there probably will be I have done many prior videos on the topic with internal documents, executive testimony, inside sources, and more. There are clients who allege they were ripped off, employees who allege they were never paid, investors who claim to have had their money stolen and more shady Endeavors than I could ever possibly count a playlist with all these links Down Below in the description and I welcome anyone interested to go and watch it for themselves. That said today, I need to be a bit more focused if you will.

The scope of this video will be relegated to botting on Twitter and for some that may seem inconsequential. but when the world's richest man is promoting a rapidly growing online celebrity as the public-facing standard of Citizen journalism on a platform with hundreds of millions of users, Well, I believe that such a person should be critically evaluated and scrutinized rather than blindly followed. This is where we need some context because without it, nothing would really make any sense. A while back I actually interviewed Mario myself I talked to him for a total of maybe two plus hours and he said a lot of things that were not true.

Some of them I've covered some of them I haven't but for this, we need to watch a section of that interview. here. It is in its entirety. Have you ever bought your personal Twitter account? I have.

Yeah, So I asked after so it's one of the agencies one of many. Okay, so it's not bothering. and were you ever trying to offer a body service to your clients at IBC No, not that I know of. So are you saying that the document is fabricated? No, it wouldn't be because I'll show you very.

Um, you show it to me. But as far as I know, we've never offered a body service. we've never bought it. Uh, our Twitter we I can tell you some things that you might want to point out though.

Okay, yeah, by all means go ahead. So in the early days of Twitter um I wouldn't be surprised if they tried. that's pretty Elon in the early days when I was a nobody like if you look at my tweets that was a nobody. So with Aces that would do that would offer services but they would never tell you that they're using body services and that's free win in the early days.

Um and yeah, so if they use bonding Services Um, maybe. and we stopped using agency became a lot stricter when my account started gaining traction. So that's number one, number two. I For those keeping score at home, that's a three-time denial in that one segment that he ever used bots on his Twitter accounts.

Furthermore, he skirts the question and talks about agencies with no name. a bunch of them by the way. But I'm happy to say I've got additional information direct from a now public Source the prior Chief marketing officer for IBC group who was present in the logs at the time which is, well, you can all judge it for yourselves. Oh, and in case it wasn't clear enough, here's another time that Mario decided to address botting allegations and he even manages to bring his team into it, which I thought was incredibly relevant.

Have a listen. I was advertising the spaces and even if you look at the threads in the comments, there's a lot of comments about pumping and dumping, scamming, rub poles. but what would you like to respond? So this is actually the first question in the interview like Mario um like I think thank you for coming you know on this side of the aisle and talking about these things to the Nic community and my answer like the reason I told her are you worried I'm more relief and like this is what annoys me like I don't know my criticism: I'm like, all right, every person made those claims including I'm not gonna name people including some notable people who made those comments like please give me one piece of evidence Let's use the Bots example that's mental To me, it's mental even I'm like when I started attacking attack me on stage I went on stage once I'm like okay, maybe there is something. Let me check with my team, my team's asleep Mario like this is stupid.

they started messaging them, they told them they were saying the space. Now we have evidence of this evidence I messaged them out of messages I Can send you screenshots my team I imagine in person. Can you please understand this Please Zero Not one, not one person out of everybody since it doesn't exist. that is very, very clear.

Wow! Mario My man, Let's dance! Keep one thing in mind as we continue right now: there's a chat room containing at the time: Ibrahim Bob Wazney current General Manager of IVC Group, Romy Hamade current head of the Twitter Roundtable which is the largest Twitter spaces being run on the platform cone Schiller Prior CEO of IBC group Jared Winn the CEO and founder of a company called Win.solutions and Chris Nong a marketing manager for the same company. Also, a complete transcript of the chat room is available Down Below in the description I'll just be picking out some of the more notable items for today, quite a few of them. If you want all the surrounding context, feel free. You can check that out down below.

Let's just remember, neither Mario nor his team have any knowledge allegedly of Bot usage on Twitter Let's kick it off. Here's where they agree to activate and test the Twitter Bot service offered by Wind.solutions in this one Ibrahim Bob Wozni voice is concerned that he doesn't want to hurt Mario's account by using shadowband profiles Twitter profiles to boost him. That's a little Sus, but let's keep going. No time to get bogged down in the first few screenshots.

quote from Jared Win. It's actually working really well on his account right now and if you want peace of mind, you can look at my account which we've guinea pigs for the last two years and it's approximately 70 to 75 Organic Engagement now. End Quote: Fantastic. So if it's and interesting to note before, this evidence could even be released before the video was actually finished.

Jared Nguyen Made his account private and took down the entire website. Make of that what you will Jared assures Bob that the accounts they use for boosting are not Shadow band. But let's get to the good stuff. Here's where Jared openly acknowledges that they are providing Mario in organic traffic vomiting that they can subsequently turn it off and check out.

Well, the service is working. In his own words, they can see how much lift there has been by doing so. the CEO of IBC at the time cone Schilder chimes in at this point. Quote: Yeah I Think we should continue as well.

The risk is almost zero. End Quote: After that, Romy says her piece and openly acknowledges that they would like to extend the service to their spaces. also confirming thank you Romy Very kind quote: I Manage the Roundtable and Mario's brand. Excellent.

From there, it gets pretty raw when we talked about testing the Um traffic on their Twitter spaces, saying that they are working on getting the network to join and it would be amazing if they could crack it and Jared replies that they're in the process of emulating requests as an iPhone basically game the system so that they can trick Twitter itself. This one was interesting to me because Jared CEO and founder of Win.solutions decided to just openly acknowledge that emulation has the same results as a shadow band. Nice dude. Still, this right here is legitimately my favorite part.

Romy Hamade asks point blank no Bots Correct 100 real accounts? Yeah. Romy Yup, 100 real sure. Jared of course replies that they are real, but some are less quality than others. but that's where things really go off the rails.

Jared Later on says flat out in the open quote. Right now we are using a sample set of 200 accounts because we don't want to risk damage to our network of 2000 but we can always build slash activate another segment if this brings good value. End quote: Why in the clown ass World Mario Town with the provider of 100 real engagement be holding back his real Network Because he doesn't want to risk damage to it and how is it impossible to build slash activate another network of 100 real people? Riddle me this: Batman This is where real traffic Romy Just lost the block entirely saying quote: yes, if this works 2 000 joining us for the whole Space could be sick and we'll drive more organic traffic as people will be more intrigued when they see a huge space. End quote: that's called body your social media profile but these are 100 real accounts, right? No.

Bots I Think this is the time when they all just went. totally mask off and started going at it without the prior sense of tiptoeing hesitation. If you will, Jared Says that they have 250 accounts dedicated to this and that they are onboarding new ones to scale to a thousand and then quote. We've tested up to an hour.

It's tough to find a space that lasts that long and putting them into a quiet space seems risky. End Quote: What these aren't Bots Romy Don't worry, but he's trying to put them in a space to test how long you can have them all. Sit there quietly and it's risky to do it in a quiet one. What? Like I said, they stop even trying at this point.

As Jared says quote, we aren't sure of the long-term impacts this could have on account health, so we were using isolated accounts from our growth Network to be on the safe side. End Quote: Uh-huh Crypto, celebrity, entrepreneurial genius Mario and the fall poster child of Citizen journalism on Twitter spaces according to Elon Fucking Musk who is supposedly trying to shut down the Twitter Bots by the way, totally has an account that wasn't built on fake engagement. This is where Big Man Bob Wozny comes in. Quote: Curious question: How long does it take you to create, verify, and optimize an account? End Quote: I Don't really have words here I Mean it's like they knew later down the line that someone would look at this and they just wanted to spoon feed them all of the juicy details all at once.

That is very self-explanatory Maybe it feels odd because there are documents out there that seem to indicate IBC selling their own body service to clients clients. They allegedly ripped off Jared replies again, just drops all three times completely. Quote: We can get through about 50 to 100 per day when we're creating an account for long-term Health I.E We want them to last more than a week. This is a manual process where we warm the accounts Etc and they are aged years 2010 to 2015.

we also have an automatic flow where we can create 100 accounts per 10 to 20 minutes and the accounts are formatted with Nft Profile Pics bios Etc But as they were created same day and we'll have no Twitter history, it looks a bit suspicious and we don't like to subject our clients brand to this risk. We will usually use these for DM slash chill campaigns. End Qu