Thank you Foreign foreign, thank you I um I Want to talk about how dumb I am? Let me give you some examples because I know maybe some of my more loyal supporters are going to be like Matt you're not dumb. what are you talking about? Man and trust me I am. So this is how dumb I am. this is.

This is how dumb I am. Uh, my current positions are in aggregate: pretty bearish against the market I have spy puts I have cue puts I have Nvidia puts I have Target puts I have coin puts you get the idea In aggregate, I'm pretty bearish against the market right now and at first you might be thinking to yourself, whatever like people are bullish, people are embarrassed. it's not always going to pay. So like, what's the dumb thing Here 's the dumb thing: I A person who has studied certain statistical anomalies related to the market go against what I know So for example, and this is multi-layered so you might want to Buckle in for this one I know turn around Tuesday is the thing I know the odds of turn around Tuesday I know the seasonality of when turnaround Tuesday is even better For those of you who don't know, turnaround Tuesday Basically saying if the Market's read on a Monday there's a good chance that it's going to be green on Tuesday turn around Tuesday red Monday turns around puts in a green Tuesday It's even better if the market drops in excess of one percent on Monday the farther it drops on Monday the odds seemingly do increase for the turnaround effect on Tuesday I Know that I know that I know the odds to it I've studied it I've traded it and yet I'm the fucking dunce who's still bad against the market when I know that there's really good odds it would be green today and then you might be thinking to yourself Matt I've heard you talk about that turn around Tuesday thing before I've heard you chat about it.

We know that it roughly has about a 60 to 70 percent accuracy. like maybe you were just going from one of those weird times where it doesn't pan out. That's a fair argument. You know what kind of blows that one up is the fact that pretty much all day on the medium time frame for intraday Trading the exponential moving average was all stacked in the bullish direction.

We went red, white and blue. we went the 20, the 50, and the 100. the exponential moving averages were all stacked in the bullish Direction and we're all curving to the upside. So not only do I know about this phenomena of turn around Tuesday I'm also well aware that even looking at the Macd, the RSI whatever your favorite oscillator it is, arguably it favored the Bulls all day.

So when you take all this into account, you'd have to think to yourself that you're somewhat of a Madman a crazy person. A person who maybe is just a little bit kooky to go against all of it literally looking every pattern and current. whatever technical indicator discussions on Twitter on Reddit You look at all of it in the face and it's like oh, wow, it's clearly bullish and then yet I'm the absolute dipshit who not only bet against the market, but it's like, you know what I should probably double I should probably double down on this I should probably bet more in the face of losing money I Came up with the freaking genius idea to go even more against the market folks I don't know I don't know if there's a head doctor in here, but I need to get my head examined because this is just ridiculous. Like what a what an insane gambling mindset to have just to know everything's against you and you're like I think it might work this time I Really think this might be a bang burner type of a day? So that's the kind of day I have and that's bad for me because obviously it directly relates to losing quite a bit of money technically.

I haven't locked anything in yet? Maybe I'll catch a miracle tomorrow the next day or something like that. In fact, I have the odds for you for the remainder of the weekend not looking good for me on that front either. Uh, so maybe I catch a miracle, Maybe maybe the market Gods Decide to bless me this particular week? It's possible, but um, things are not looking so good for me and and I can at least be self-critical of that and realize wow, you really messed up here. But I think it says a lot more about you if you're listening to a guy who's admittedly just getting all this wrong and you're like, oh, we need to listen to more of that.

He's our kind of guy. This guy who looks at All Odds stats, facts, figures, looks him in the face and says Nah not this time brother that's living in fear, that's living in fear I I Honestly feel like I'm stuck in the Dumb and Dumber scene when he's just saying so, you're saying I have a chance Yeah, I have a chance. It's getting a lot smaller the way the Market's pushing right now. but I guess that's where we are I I Guess that's where we are.

Well folks, welcome back to the Matt Corey show where we're trying to get the rights to call this Sad Money because that's very rapidly what it's becoming. So welcome to the Sad Money show where we talk about money and losing it and then that makes us sad and then we end up crying in the shower. a lot to the point that our neighbors are like, what's that noise? Do you hear that little middle school girl crying and you're like no, uh yeah, I heard that too Man, that's weird I wish those Middle School girls would stop crying in some bathroom that's around here and it's totally not my apartment at all. We've all been there, we've all been there.

and if you're trying to tell me right now, look me in the face and tell me that you haven't been in a situation like that I don't buy it I don't buy it whatsoever. So that's the kind of day we're having. Not necessarily the best Tuesday out there, but hey, maybe it'll set us up for a better Wednesday Maybe maybe the new strategy is sad sad Tuesdays turn into funner more more funny or fun fun Wednesdays I Don't know we'll work on the the saying related to all that. but I do have some things I Want to go over I Want to let you know about the major things that happened today today? What to look forward to? not only tomorrow, but for the remainder of the week.

So buckle up. Don't want to knock your socks off. Don't forget to subscribe, Don't forget to like. And if you want to join the trading communities pinned to the top of chat, if you want a front row seat to watching a guy Hemorrhage Money that arguably I don't have to lose, Uh, that? that's your ticket right there.

Your ticket to seeing someone financially destroy themselves. You can be right there. With all that being said, let's hippity hoppity right into it. S P 500 is little changed as Broad Index hovers near nine month high.

it's looking okay. Kind of an interesting day. We popped. we came down looked pretty weak.

We got a trend line breakout and it's been kind of ripping now for two hours straight. coin popped off of the News That's The other big news of the day is the SEC is now sorting suing coinbase and you're probably thinking yourself, well, hang on a second. I Thought you said binance? Yeah, that was yesterday's news. Apparently the SEC is now suing both finance and coinbase, so obviously we'll be talking about that.

Tesla had a pretty good day, was looking pretty weak and then went absolute Rip City and I have a little update on Nvidia for you all as well. So a lot of whipsaw? Uh, and if you're like me, you probably got whipped a lot. in or down money I haven't locked any losses in like I said I still have all those and at the end of this, I'll let you know all my current positions, the expiration dates, the strike prices, the average fill price for premium I'll let you know everything I'm not trying to keep that a secret from you. but first, obviously my didactic ability has been suffering lately.

So I spend hours and hours and hours a day surfing the interwebs for you I don't do it for my own pleasure I Do it for you. So even if there's days that I'm lacking and not being as educational as I want to be, well I find things that you're still going to learn something from such as this such as the fact that 20 million dollars is not much money. He said once you have 20 million dollars like you can have everything unless you want to buy a jet or a yacht like you're set. But for me I'm like I burn through 20 million and like dude I could spend 20 million before you could say 20 million like and I even think like 100 million is not a lot I know like would you buy an 80 million dollar debt? Let's say you know you get the point.

where are you ever gonna stop? like at what amount of money are you gonna be like okay I'm gonna chill out I'm gonna like retire like chill with my kids. Never never no he said once you have 20 million dollars I I Hope this is a farce I hope it's meant to be fake and it might be I don't know but if it is real I didn't know that they let you film a podcast in between your econ class and I guess home ec when you're in 10th Grade uh I pray it's fake I I pray it's fake. But they do bring up a valid point. Fake or not.

20 mils nothing. You can't even buy that many jets with 20 million. so let's be realistic they they might be onto something. So I even if you like the video Even If you like the show, or if you don't, yeah, at least learn something.

But now we should probably get into the major news of the day. And it all kind of started at the crack of dawn this morning. Sec's Coinbase Lawsuit Herald's deepening U.S Crypto Crackdown So yesterday the SEC decided to officially take on Binance. Fight them.

Back Alley Brutal Fight Knock Sock'em Knock Em Robot Knock them, Stock Em robots. What's the name of that? Knock Em Sock Knock Em. What Are those robots that we always use to play with? Knock em Sock'em Robots. Those ones.

That's what happened with Binance and Genson Well, apparently he wants more. He's just bloodlust all over at the SEC SEC Sues Coinbase over Exchange and staking program. Stock drops 13. It recovered a little bit during the day, but it's still down.

It's still obviously red on the day, so a bit of recovery, but as I'm filming, it's still down 12.3 percent. So pretty pretty close to the 13 that happened in Primark Bit of recovery, but still kind of destroyed on the day investors pull 790 million from a crypto exchange Binance after SEC charges. So obviously that's the update we get today from what happened with Finance yesterday. Wouldn't be surprised if a similar situation happens tomorrow in terms of reports related to Coinbase, because people are uneasy, they look at it, they're like wow, we don't know how bad it's going to go.

So why take on any risk? This is an important time for me to remind all of you. Do Not Keep your crypto on Exchange Not your keys, not your coin. Why take on the risk? Get your own wallet, get a cold wall even if you do a hot wall. I'll be fine with that.

I won't be as mad, but get a cold while store it. Why would you possibly take on additional risk that there's no need for you to take on? And I know some of you are going to be in the common second. but Matt What about the Apy? What about the extra interest? I Can earn the little interest you're going to earn. Three to five percent apy over the year is not worth it When you could be risking losing all of your crypto, the risk is simply not worth it.

This game in any form of the market is risk to reward. and right now the risk in this situation is extraordinarily. High Take 30 minutes of your day, 15 minutes of your day, and get your crypto off exchanges. I Don't know how to be more clear about that.

SEC Chair Gensler doubts the need for more digital currency. so obviously Genzler is doing whatever he can to ensure that the public just continually hates him. I Don't know of a single person who's like wow, that Gary Gensler fella. He really seems to be on our side so he was a little quiet yesterday.

Obviously they were tweeting some things out and then with the Coinbase thing this morning. Yeah, the SEC official Twitter account had a couple of things to say, but he ended up going on and doing an interview with CNBC early this morning and it was pretty much everything you could expect. and then what I thought was a little funny was Brian Armstrong of Coinbase Hit Back. So I do appreciate the hit back.

but I'm not all of a sudden team. Brian Armstrong Because this is the guy who late last month like as in two to three weeks ago sold all of his stock in Coinbase in late May Brian Armstrong Owned zero zilch fucking goose egg goose egg stock in Coinbase. Sell and sell and selling, Sell and selling. So is it amazing.

Timing could be it totally could be. or maybe he knew that the stock was about to get crushed and he got out. Which seems like some insider trading if you ask me. But anyway, I Do still find it humorous how he hit back against Gensler regarding the SEC complaint against us today.

we're proud to represent the industry in a court to finally get some clarity around Crypto rules. Remember this all really is surrounding the fact of what is and isn't a security and weird pissing matches between the SEC and the Cftc and the crypto industry as a whole. So it gets a little complex. but this is a good breakdown of it.

The SEC reviewed our business and allowed us to become public company in 2021. That's a good point if you had such an issue with this being a quote-unquote criminal. Enterprise Why did you allow it to publicly trade on the markets? There is no path to quote unquote. Come in and register.

We tried repeatedly, so we didn't list. Securities We reject the vast majority of assets we review. The SEC and Cftc have made conflicting statements and don't even agree on what a security is and what is a commodity. This is why the U.S Congress is introducing new legislation to fix the situation and the rest of the world is moving to put clear rules in place to support this technology.

I Agree with that part of it. Just because I think it sus that Brian was selling his stock doesn't mean I disagree with everything he's saying here. I mean that's a good point. Clearly, we need Clarity and he's not the only one campaigning for that.

Many people who are just tracking what's going on in the crypto industry as a whole are saying yeah, no Getzer, give us Clarity And the contradictions are absurd. The lethargic developments. The lethargic pace of developments are absurd. The list just goes on and on and on instead of publishing a clear rule book, the SEC has taken a regulation by enforcement approach that is harming America.

So if we need to Avail ourselves of the courts to get clarity, so be it. By the way, in case it's not obvious, the Coinbase suit is very different from others out there. The complaint filed against us is exclusively focused on what is or is not a security. We are confident in our facts and the law.

Basically, they're trying to get themselves a little far away from the accusations of both FTX and Binance of all the co-mingling and funds they're trying to be like. seriously, that's not us. Uh, we'll get the job done. In the meantime, let's keep moving forward and building an industry.

America will get this right in the end. So overall, that was his hitback. This all happened today: Coinbase Getting sued by the SEC Binance Getting sued by the SEC yesterday so busy, busy day and I just thought taking a step back. This was kind of interesting.

Over the last year, Crypto is seen. The class of: FTX larger fraud than Enron 2 trillion plus a race in the bear Market over 300 class section lawsuits since 2022 collapse of a regional bank system Binance and Coinbase are announced to by the SEC. Yet the total crypto market cap is still 1.2 trillion. The resiliency of crypto markets is incredible I Full I Wholeheartedly agree I'm not saying hey, go out there and buy every single random crypto project you can think of that everyone's talking about I'm the biggest supporter of Bitcoin followed by Ethereum I own both I don't want to actively trade them I'm a long-term investor and I just want to see how it all plays out in the long run.

especially I've been learning more and more about the monetary policy that is set by our Central Bank the Federal Reserve and just the lunacy involved in it. So yes, I am a long term supporter and investor in both Bitcoin and Ethereum all these other ones and it seems like it's a matter of time to many of them from just a statistical standpoint. end up getting absolutely crushed. Uh, I Feel most confident in Bitcoin because we already know that the SEC has defined it as a commodity, not a security and then pretty much anything else does have regulatory risk.

So I just want to make my thoughts very, very clear on all that. Not really big news, but still. I would argue Important news of the day: PGA Tour Agrees to merge with Saudi-backed rival Live Golf. So for any of my golfers in the audience, this is kind of a big pivot on the whole PGA versus Liv fight I Thought it was kind of interesting PGA Tour bows to Saudi rival in shock combination with live golf.

Why is this so important? Because it's the end of the Civil War in golf. There was this division between live golf and PJ tour. Uh, it was certainly a threat, an existential threat to the PGA Tour And this was something where the PGA was their filing lawsuits against each other and the PGA basically essentially banned its players from participating in live golf, saying that if you go on their tour, you're not allowed to come back with us. So this changes the whole game completely because they're going in different directions and it forced in many ways uh, golf fans to make a decision, which to follow in golf players certainly to decide.

Do you go with live golf or do you stay with the PGA tour? So I To me this is huge. Yeah, that yeah, it is undoubtedly huge. How did they give them that golf give that it was. it was so heated.

wasn't it that competition and and and the Scandal and the controversy at least around players opting for the for the huge money tickets being dangled by by the Saudis, How do we? How did we get to this point? Scarlett Well, I Saudi Arabia's uh, Sovereign wealth fund invested in live golf and there are a lot of actions of greenwashing. um Sport washing where it was trying to clean up its reputation with all the human rights abuses through sport through golf specifically and a lot of the players um did like the fact that they would get paid to play and to participate in this league. So a lot of the players were put in a position where they were saying do I stick with what's been traditional or do I go with this new league that could offer a better compensation. And there was a lot of controversies and as time went by you could see during the press conferences when the golf players themselves were talking about what they were going to participate in, there were a lot of testy questions and it got to this cultural story that that really took over the story of golf and the PGA was really in a very defensive position and in a defensive Crouch As a result, it wasn't clear how they're going to both move forward in parallel directions, especially because live golf didn't really have a broadcast rights deal, which I think is one of the big issues whenever you're talking about live sports.

Fair Point Uh, the thing I really want to jump into on that is really relating to the classic virtue signaling. So PGA this whole time was kind of the mindset of hey, um, we think that we're better than you. We think we're more moral than you. We think Everyone likes us more than you never, ever ever will we bow down to you And obviously this just shows in a weird way.

Greed. Uh, live when you're backed by this Saudi like Sovereign wealth fund. You essentially have unlimited money. You can't really, as a business compete against another business when that other business isn't being driven by.

you know, the whole goal of making profits and revenue. Uh, yeah, was it to some degree like whitewashing some of their atrocities? Okay, yeah, I get that. But what I think is, uh, uniquely comedic. Here is how quickly the PGA bent the knee and completely turned around on all that virtue signaling that they did, uh, find it absolutely wild.

and in fact, this is not that long ago. This is from June of 22. So um, have you ever had to apologize for being a member of the PGA Tour And he's talking about 911 and apparently close family friends who were obviously impacted by it. And this was just a year ago and now they're literally partnering up.

So that's particularly awkward. Very, very awkward. Um, so just kind of shows the two-faced nature of business and greed and money. And that's what happened with the world of professional golf today.

Now let's talk a little bit of an update about yesterday and forward. and trust me all, attach this to where we're going in the market very shortly. But check it out. This was a live video uh, taken of when they announced the Vision Pro Apple's Vision Pro their new 3.5 000 AR VR headset and the crowd's reaction to this.

The crowd's reaction to the price tag is phenomenal. Vision Pro starts at 34.99 it will be available early next year. with that crowd reaction. Absolutely comedic.

But I Want to talk a little more? The internet is losing it over Apple's 3.5 000 mixed reality uncool headset. The amount of memes that are already coming out I See a lot in the world of trading with charts. So funny. If you have any, send them my way.

They are absolutely hilarious. This itself overnight has become a phenomenal Meme And it just keeps going and going and going. I Mean the websites businesses are. their website's always shit.

uh, there's that original video. But the memes you can get of this, especially the training related ones. Hilarious. Apple's Vision Pro Demo Roundup Here's a what everyone is saying: Apple It some people tried out the new mixed reality headset The Vision Pro on Monday there's a lot of chatter about the company's Buzzy device if you missed it Apple announced its headset Monday during its Worldwide Developers conference.

The 3.5 000 headset is the first major new product since the Apple watch in 2014. almost a decade ago, people who genuinely seem to impressed by Apple's technology. but device is notably heavy and some users were left with questions about what headsets will ultimately be used for. so no one's really disagreeing that the technology is impressive.

When they put it on, they're like it's pretty cool. I Saw some complaints about the battery packed I Saw some complaints about the weight and more like what's its utility. But in terms of just like it's coolness of like what can be done just like seeing the New Frontier of Technology A lot of people were impressed so I just wanted to share all that with you Elon Musk's Twitter races to build a live video Service as it Woos Right-wing media personalities Elon Musk is zeroing in on building live video on Twitter Engineers are to revamp Periscope Twitter's defunct live streaming platform Tucker Carlson's recent decision to start a show on Twitter expedited the video push I Kind of am confused by this I Think that it would make more sense if there's almost a partnership between Rumble and Twitter for this, just my own opinions. uh I literally know right now I'm on both Twitter Rumble Well also YouTube but instead of building it out, there's already quite a bit of traction on.

Rumble Why not just have some sort of official partnership? Um, so I'm curious to see how this will really end up playing out in the long term. but I just want to share this to get your your thoughts, your feelings but almost like if Rumble was the embedded video player on. Twitter that would make a lot of sense to me. just some sort of official partnership opposed to once again continuing to like fracture an audience.

like if you're apparently going after like wooing right-wing media personalities it the fracturing doesn't seem to be the most logical, but anyway, just my thoughts. just my opinions. Wanted to get all of your thoughts on that. Now in terms of Tomorrow What I want you to know is even though there are two things scheduled: U.S Trade deficit take consumer credit, that one might be a little bit more important comes out at 30 PM.

But for Wednesday June 7th not the biggest in terms of Market events in terms of earnings I Want you to know after the market closes today, we're going to be hearing from Dave and Busters and then tomorrow we have Campbell, Soup and GameStop so feel free to screenshot it. later on this week we get DocuSign and Neo. So once again, screenshot it or just go to at ewhispers on Twitter. Now in terms of seasonality, similar to today, the day just over the past two and a half decades does favor the bulls, The bulls have won 56 percent.

Nope, this is for Tuesday I need to find today's thing and I did post it. Uh, actually you're going to see how similar they are, but very, very similar. So for tomorrow Wednesday June 7th the seasonality does favor the Bulls. They have won 64 of the time.

So roughly two out of every three years for tomorrow buying an open selling, it closed on the Futures Market The Bulls have won. The profit factor is 1.94 and obviously the bias is slightly leaning bullish. so we had a bullish push, then it went back Parish then it kind of did nothing for a couple years and really over the past 10 ish years. evidently favoring the Bulls Is that a guarantee that it's going to favor them? Absolutely not.

but it just is basically saying that they're going to be supported by some Tailwinds and the Bears are running into some headwinds, which is me, and that brings me to my current position. So about two hours ago, it was around noon, so at this point almost four hours ago I doubled down on my spy put position I Do want to clarify it is for June 16th I did a strike of 425, the premium I paid was 275 and the risk um, I'm risking just below 4 30. obviously if we break above the reason highs I'm going to pull the rip cord on it and as of now, we're getting a little uncomfortably close. With that in mind.

I Do want to give you an update on my seven-ish positions: I have spy puts for June 16th, both the 425, the 420, the 423 so 425 423 down, 13, 34 respectively I have coin but puts that's a smaller position June 16th just in case there's capitulation, but obviously coin bounced a little bit today relative to its open I have Q puts for 347 June 23rd that is obviously a little bit farther out I have Keo puts that's really small. That was because of the Hindenburg research thing. Um, right now that seems to be bust. That was a really small bet I'm still swinging my target puts that I've had for a bit.

my Nvidia puts that I've had for a bit and my Netflix calls that I've had for a bit. So the update here is basically spy puts Q puts and some new fresh coin puts. But that's a little bit of a different bet relating to the news of the SEC and whatnot. in terms of the types and styles of bets that we normally talk about.

really, the new ones are two different forms: the Spy puts 425, 423, both for June 16th and then for the Q's 347s for June 23rd. So none of it's a day trade. I'm really, really trying to do less of the day trading stuff I I Want to get more into the swing trading? Uh, just because I think with nice Trends comes nice money and obviously with those if you watch to morning stream, you know my risk on all of them. I'll make sure to update everyone if I do anything with those on locals if you want to be a member of the locals Community it's been to the top of chat.

it's in the description of the video macross.locals.com It's a hundred dollars for a year, ten dollars for a month. or you could try a month for free by putting in the code goonie when you're signing up. That's pretty much what I have for you. The Bell did just go dingety ding ding ding.

That's it for the normal Market hours for today Tuesday June 6th not really many Market events tomorrow. The seasonality does favor the Bulls just as a little bit of a preview on Thursday it's flat and then Friday and Monday uh this upcoming Friday and the next money does favor the Bears uh and then don't forget next week it's gonna get wild this week in terms of Market events and earnings. not too much going on. a little bit quieter, but next week it's gonna get fun.

We get CPI reports we get Fomc meeting announcements we get Powell doing live press conferences. we have other fed members speaking so next week I'm expecting definitely even more volatility, so should be fun. Uh, but that's what we have going on folks. Uh, are there any questions? comments? concerns before? I Let you all go as I'm waiting for the questions to come in.

Uh, don't hesitate to destroy the like button. Don't hesitate to hit the Subscribe button. uh and I'll hang out for a little bit just to see if there's any questions, questions, questions, questions, questions. Let's talk about that.

Loose Hair was my hair was I Did I have a strand of hair out of place? vix to zero it. It feels on days like today it somehow feels like it's going that way. It very much is. Any wedding plans not yet pack W Regional Banks Call a really nice bid today.

uh Regional Banks looking strong? uh wall ended up at 39.50 pack W ended up at almost eight dollars uh Regional Banks looking pretty good? What are you jumping in on AI puts when the moment is Right recently is representing quite a bit of strength. so I just needed to like. It's kind of start to crack down. uh palantir I Like it.

it looks good I wouldn't Chase it right now. the risk reward is a little bit out of place just to enter now. but if you've been riding it for a while, Congrats you! Ride the momentum, Ride the momentum. Uh I would recommend.

just keep moving your trailing stop loss up. How do you decide to cut your positions when they're still long way out? uh going into it I Know my risk I know my reward I know the levels that I would have to like break above or break below. Depending on if I'm in, calls or puts that I would get out. So for example, the puts I have on the spy and the queue.

The risk right now is yesterday's high. If it got above yesterday's high, I would just cut the position. Uh, how do you calculate seasonality? Easy peasy, lemon squeezy I Just look at the day's performance that individual day over my whole data set. So for example I would look at whatever the day is like.

trading day of the month, three, or four, whatever we're currently on, or whatever one you're interested in I would look at that day over my whole data set and then you could do whatever mathematical manipulation you want to do if you want the meeting, if you want the average if you want just all the individual daily information. but as I just have the data set and you can manipulate it pretty easily. Do you think INTC is a good buy? Depends for your time frame? Um I wouldn't invest in it I think there's better semiconductor companies to invest in? Uh Target puts aren't doing so hot I want to double down on my target I am My risk is 133 and some change so we're getting close to it. but I do have a little bit more room.

Um, can you trade after hours on interactive brokers? Of course? Of course of course Should I bet on black or red tonight? Black? Awesome awesome, Awesome! Well folks, that's what I have for you. Don't forget to like, Don't forget to subscribe and don't forget to join up with the locals Community Macross.locals.com Use the code Goonie to get one free month. I'll catch you tomorrow morning bright and early 9 A.M Be there or be square. Peace out Girl Scout!.