Just because it's easy that don't make it B I Want to dig my hands deep down in the dirt? take a walk along the street if I'm feeling desert. All of this convenience just doesn't work for me I Want to play with fire? Let me get hurt. Can we take it back to 95 before we at this D in our light just staring at the screen every day and night I miss the rush of in get getan Y what you got in bag candy cigarettes in a Playboy mag? many us to have to work for that wait for me. got to di up.

can't call my landline cuz it's all tied up just B over then can we take it back to 95? We have this drama in our lives just staring at the scream every day and night. Mr Living in real life Oh brother oh brother oh brother good morning, good morning, good morning. Welcome back to another episode of the Matt Cor show Where you're Matt Kors and I'm the show and together we are going to do this thing it is Wednesday November 29th you know what that means GDP Report GDP Report Uh for the last quarter coming out in about 7 minutes. So we're going to talk about that, we're going to talk about how the equities Market is rippity, skippity doodah to the upside and so is the Crypto market.

Look at Bitcoin Look at Ethereum. look at Salana. They are ripping the faces off of bears. So some exciting things to pay attention to as we are looking to the upside in stocks: Futures options crypto.

But before we get into all that, obviously there's some other things we're going to get into. the GDP report I have some news related to GM some news related to Bill Atman some news related to Charlie Munger that's some sad news. Um, we have some seasonality to go over I Guess we. since we're starting so early, we could do a bit of an AMA thing.

We could do some chart review. We could do some life philosophizing. Uh, we could do a lot of ad pitches if you want. If we just want to make this like a massively long show of Just Add pitch.

Add pitch Ad pitch. We could do that. Um I could bring on Piper She could host part of the show if you guys want her on for a half hour an hour and I could go take like a break. maybe uh, like a weird low point.

maybe like 8:45 to 9:15 or maybe like 10:15 to 10:45 Maybe we could schedule her for a half hour. Uh, we could spin the wheel. We could ask a generic questions of should you divorce your husband, should you diverse your wife We could roll it and then we could see what the odds are. Um, there's a lot we could do I mean really, the world's our oyster.

We could do whatever we want. We don't have to necessarily be degenerate gamblers. uh, but we could also degenerately gamble I Should also bring up that since it's Wednesday and the pick them League I Need you guys to help me with the pick Them league? so we're going to be doing that a little bit. Um, so that's kind of what we're looking up to, you know I Hope everyone had a good Tuesday good Tuesday night I hope you crushed the stair stepper as much as I did.

um I just like to go till the point that I'm crying and then after that I'm like, okay, that's like you kind of push the stair stepper far enough. so uh, just trying to work off those extra kows I consume from the holiday Thanksgiving extra pie season. but on that note, I do still have extra pie in my refrigerator I know I Already like kind of went on a diet tribe about this on Monday but if you guys haven't had strawberry rhubarb, you're missing out if you have just not been in the position in life to yourself. consume strawberry rhar pie.

Boy oh boy dude, like it's it's the it's part of the reason why I stair step it's partly so I Don't cry as much in the shower. but then the other part is so I can eat as much strawberry rhar pie in an unabated manner as I possibly can. and I'm not even I'm not paid to say that by the strawberry rhubarb industry. um I wish I were, but this is a complete free sponsorship to them.

Um, so Big Pie if you're out there. if you're listening to us, um I Would love for us to somehow connect and maybe we could get you guys integrated into the show. Um, if you want to start me off with just like a subset of the big pie industry, obviously happy to take on strawberry rhubarb for evident reasons. uh, apple cinnamon even like the chocolate moose pie is pretty good.

I mean pumpkin pie is a classic, but I feel like that time's already passed us. Uh, there a lot of pie that like I Keyme pie. Um, there's no other pie. No, there's other pie Like keyme pie is a good pie.

But to say there's no other pie like no, come on we. We didn't fight for our independence in 1776. To think that there's only one pie that's like a very, very restrictive view of the like dessert world. So let's just let's calm down there like this: Woo, let's not get into Fikes this early.

Uh, cupcakes are pie. No, that's not true cupcakes. it's in the name. They're cups obviously.

pecan for sweetie thing. Uh, pean's good. Chocolate pie brownies are better. Well, if you think that, but you're comparing two completely different desserts that's like you can't do that.

That makes no sense. That's like saying I don't know you like cats better than Ford Escalades Two completely different things. Like they don't even just like they don't belong in the same I guess comparison group that makes no sense. Um, all right.

Anyway, before I get frustrated at the person who's trying to tell me that brownies are and brownies are good. like I'm not saying brownies aren't I love brownies like give me a brownie I'll crush it I'm not really anti necessarily any dessert. uh um. but I I Do think it's weird to try to compare brownies to Pi like it's just they're they're meant for different times for different occasions for different seasons.

like it's just doesn't make sense to me. Doesn't make sense to me whatsoever. But before I get too frustrated I do want to let you know. Well first of all, check this out.

Market's looking good spy ripping Q's ripping Bitcoin at 38k I think it's going to be battling it out 39 40K pretty soon Eth holding above 2K and Salana making a nice rip back above Tesla looking really good. a lot of individual Tech names looking good, bonds going up, yield going down the dollar, vomiting. Right now, the short-term trend is a continuation of the bullish dominance. Stock futures rise today.

Wednesday's November rally resumes Santa Claus rally basically from a third of the way through October until about halfway through. January that's the Santa Claus rally. This is seasonally favoring the Bulls as it basically always has. So the reason we're starting early today is because of this little thing right here.

The GDP report for Q3 We are looking at 4.9% That is the Line in the Sand that we will be hearing about very, very shortly. Um, so hopefully they bring on our boy. Rick Stily as that's all happening. I'll put up the poll for you guys to vote.

Are you bullish or bearish on the day? I Didn't want to put it up before just because I Feel like this information is important, but I have a feeling that you guys are going to vote bullish because everything is seemingly ripping to the upside. So lots to talk, talk about, lots to do, and hopefully we could make some awesome degenerate trades that make some money today. On that note, let me make sure we're rocking over here because it should be coming out in about a minute so the volume's up. I Guess let me get the poll ready so we can, uh start a poll.

We'll get to ask a question. Market At open all right the first minute. All right. Green, Red, All right that is ready to go.

Uh I guess while we are waiting for this to come out, we have 45 seconds. Uh, if you want to join the Gooni Discord it's pinned at the top of chat. it's in the description of the video you can get into the Gooni Discord Server through M. Locals.com You can get your first month for free by using the code gooni What You Get There is basically before and after the show I'm there so you could trade with me.

you could trade with the other Traders Uh, we do weekend teaching sessions talking about options, the news? really? whatever you guys want, but private teaching lessons for everyone in the Discord On the weekends there's weekly training competitions uh, obviously the newsletter. uh, there sports gambling at night, gaming at night. It's just a fun community of people, like-minded people. So if that's your speed, try it out for free by using the code Gooni.

After that, it's $30 a month or $300 for the year. So I think think of it as like just is enough value being provided I mean just alone. Yesterday the trades that I posted made $600 so you could pay for literally two years of it in one day. The Top: the chat, the destion DAT Rick Take it away Rick Yes, we're waiting the GDP This of course is our second time around the block.

our second look at third quarter GDP There still can be some changes while the wires are hitting the trade balance. First on trade we're expecting - 86.5 billion. We end up with minus 89.8 billion. Minus 89.8 billion.

That is the biggest deficit going back to July when it was 90. Minus 90 billion on the GDP Looking for 5% upgrade that 5.2 That's actually a rather healthy revision 5.2 It's still makes it the best quarter going back to the last quarter of 2021. On the consumption side, we lose a little bit. 3.6 We're expecting it to remain at 4% but as I said, 3.6 Now if you look at the price component there on consumption uh or Price component, it is 3.6 that is one tenth hotter, one tenth hotter than our last look and that is significant 3.6 Uh, Because we want to continue to see course, these numbers remain Under Pressure Uh.

And also in compared to the last quarter, it was 1.7 So 1.7 was the smallest. Going back to the second quarter of 2020, it popped up to 3.5 Now you add an extra 10 to 3.6 at the core component of that price index. On coming back to the start in the other direction, it was down a 10. Instead of 2.4 it is 2.3 and 2.3 of course is the smallest.

Going back to the last quarter of 2020 when it was 1.8 we forgot a couple of things we want to make sure that we hit on. If you're looking at wholesale inventories, they were down 210 down 210. What's notable here is that means that eight out of the 10 months of this year have been negative months on wholesale inventories. That's something to pay attention to, especially going into the holiday season, knowing that inventory levels have made big adjustments over the years and supply chain issues.

Finally on the retail inventory front, expecting a nice up 610 wasn't meant to be unchanged. but we did get a revision last month also in the wrong direction. from up 9/10 to only up 4/10 Uh, zero on that inventory number would be the lightest read that we've had. Uh, going back to? well GH Going back.

That goes back quite a ways. We're going to have to go back to November of last year when it was minus 210. Now let's synthesize all of that, of course. better growth.

Split decision on inflation Cor may be more important to many observers, and that was down a 10th versus the price index up a 10th. We see that interest rates are under a little bit of pressure after that number and the pre-opening equities have remained very healthy. You added a few points on Dow futures, but to be fair, we had a big downdraft in rates not only today and yesterday that this is pushing into and even a bad auction yesterday on the sevene couldn't stop that March of rates lower, we touched four and a quarter today. Should we close at current levels Joe and Becky, it would be the lowest yield close basically since mid September and that would be true for 10, 30s and even seven-year shorter maturities of course, a bit longer comp.

What's the quickest economic turnaround in history? Why the hell would we get rate Cuts in the first quarter of next year with a 5.2% print on? G? I' have to turn around quicker than a 10year. Yeah, you know. Joe On the gross side, you don't believe the 52. No.

I I Really don't believe the 52 and I can't give you exact Reasons I'm just being honest with you I think it's it's a bit exaggerated there. And I Also think that there's of course, postco post supply chain that have made distor I Do think that what you want to pay attention to is even though we've made progress on some of the inflationary numbers, many of them are well above the 2% Target And that is all that really should matter to the Federal Reserve at this point. Rick Thank you Steve Lean joins us right now with more on this. Steve What are you thinking? Well, I'm thinking that if you're going to get a revision and upward revision to GDP In a world where we're worried about too much growth, this is the way to do it.

If you notice what Rick said. he told us that uh GDP was revised higher, but the inflation number was revised lower. That means that there was more real growth. It also tells you there was more productivity in the economy.

That's just one of the debates going on among Fed officials whether or not we've had this, uh, surge in productivity the last. Do it around G policy because obviously if we do more with what we got, it's less inflationary. That's one. Two is you had an upward revision to the savings rate that was a good number there up to 4% now up a couple T So that's a that's a positive development um, whether or not and and and I think Joe was getting at this.

The Slowdown is really the story here and right now it's all anecdotal. I'm here at the CFO Council and I'm hearing really mixed results. Some companies are doing quite well and they're seeing uh uh, things progress into the fourth quarter and into into next year. Others are more concerned and having a bit of a tougher time right now when it comes to the outlook for their businesses.

So um, and we have Barkin coming up from the Richmond fed at Uh 9:55 this morning and the story with him is he's been one of the FED officials relying more upon anecdote than the actual data and I think Joe's question is a good one. How much will we slow is really the question the FED is going to ask. One more thing, which is the big debate in the markets this morning, is: did Waller mean to say what he said when he said hey, it's logical we would have Cuts next year. You remember that Powell ducked on that question, he wouldn't answer it I asked Collins and Meer last week about it, they wouldn't answer it Waller went right after it.

was it an intentional was he sent out there to ease Financial condition, condition in. Anyway, look at those probabilities: 77% probability for cut in May and they're starting to think about Rance and what's happened to the is pretty important I think we were down over 20 basis points over the last couple days I Didn't get to look at it right now to see if it's still out there. it still is 467. So guys, things are moving right now and there's a lot of questions about the Outlook that maybe we'll get some answers here at the CFO Council Okay, Steve thank you.

We'll keep watching that too. Joining us right now to talk more about about the economy is: Dana Peterson The Chief Economist At the conference board yesterday, that organization said consumer confidence actually ticked up in November after three straight months of declines. Dana What do you see? Because it's kind of hard to figure out why yields are coming down, Why the market expect R cuts when things look pretty good everywhere you look in the economy right now, that's a very stern look. Well, yes, we did have a little bit of an uptick in the overall measure, but that was after many, many months of declines and it's still pretty low compared to what you'd like.

What really pushed the measure over the top was expectations. They ticked upward, but still, that measure was below 80. And anything below 80 still signals recession at some point over the next 6 to 12 months, you saw What the GDP that's not what you guys came here for. That's not what you guys came here for.

You guys came here to see what's going on. So initial reaction a bit surprising to me that the initial thing was a pop to the upside I think the reason we saw the initial pop to the upside was because the recent Um inflation reports were actually I guess revised to the downside which is good. We want to fight inflation, but I'm seeing a very hot economy and we I still very much believe we live in the upside down world where a good economic report as in more economic growth is still suggestive of inflation and we're kind of seeing that now with the initial yeah, we did get this pop, but the Q's taken a little bit of a hit right now. the by taking a little bit of a hit right now.

Nothing dramatic at all. Well, not yet. but this downward Trend definitely makes a bit more sense to me than that initial pop just because we are in that upside down world. So anyway, that JDP report coming in uh, higher than expected they were expecting 4.9 came in at 5.2 I Do want to let you know that at 10:30 so an hour into the trading day, we are going to be getting the crude oil inventories report I think relative to the last batch of these like and we get one every single week.

This one is going to be a little bit more I Guess important to a certain degree because right now there's like a big fight going on with OPEC and their allies of the meeting and what to do with the oil because they're really trying to push to constrain the supply so they can keep prices higher because they're worried about really things playing out next year so this one might have a bigger impact than like we normally anticipate. So paying attention to this at 10:30 today, very quick reminder for the remainder of the week: Thursday We are streaming once again early because we are getting the Pce report also very early at 5:00 a.m. we are getting the CPI report out of the Euro Zone that's all going down tomorrow PC Personal consumption expenditure. It's like the CPI report another inflation report very important.

Paying attention to that Uh, and then on. Friday We're not starting early, but we will be streaming longer because we are be uh, we're going to be listening to Pal The chairman of the FED Jerome pal will be speaking at 11:00 a.m. on Friday So some interesting things that have happened and just reling to GDP and we were just talking about how right now there's a 92% chance of at least one rate cut by June of 2024. Well, Bill Atman Bets fed will cut interest rates as soon as the first quarter, which technically is not a 50/50 bet.

but Bill Lman uh, kind of using his platform to become I guess more of just like a market commentator I Feel like we're just hearing from him all the time now. But anyway, here's what Uh Bill from Ping Square has to say: there's a general consensus in the United States In some circles that we probably have avoided a recession for the near future. we're going to have a so-called soft Landing That's the consensus is that your view as well I think it's really hard to predict I Do think the economy is weakening? Uh, we're seeing. You know evidence of that in some of our companies you're seeing uh I have some concerns.

Uh, you know the there's been a huge subsidy in terms of low interest rates and companies. Most companies fix their Uh rates or their Deb on the certainly. Real Estate Investors did the same and that works until it doesn't work. And so I think we're what's going to be interesting is to see what happens when people get have to repic their debt.

and I think that can have sort of a cliff-like effect and you're certainly seeing that uh in real estate Now the markets are assuming and the markets are not always right, but the markets are assuming that there's going to be a Fed discount cut sometime next year. And as we talk now, just about the end of November um, it's not clear what the FED will do, but uh, some people say that the FED if they were to cut interest rates next year would help the Democrats and therefore be seen as very political. The other hand, some people say the FED can't wait till after the election because the economy might need a a stimulus. so you have a view on what the Fed's likely to do.

I think they're going to cut rates and uh, I think they're going to cut rates sooner than people expect? Uh, because you know what's happening is the real rate of interest ultimately which is what impacts the economy keeps increasing as inflation declines, right? So if the FED keeps rates in the sort of middle fives, uh, and inflation is you know, trending below 3% or uh, you know that's a very high real rate of interest and I think that is having a sort of retarding effect on the economy and then of course, retarding effect. You know, many businesses, certainly many individuals have the benefit of fixed rate brother. and uh, that fixed rate debt certainly for companies and for for commercial real estate starts to roll off. So I think there's a a risk of a hard Landing If The Fed doesn't start cutting rates, you know, pretty soon so you know I think the market expects sometime middle of next year I Think it's more likely probably as early asy you admission to Fed probably missed uh inflation.

Initially they they said it was transitory, but they've played catchup and they've increased rates considerably. Uh, since that time Mar made a mistake in not handling inflation differently in the beginning. and how do you think they've done since they started increasing interest rates? They certainly made a mistake. I mean I think that they would the FED generally as an institution would admit that uh I think that they caught up uh and I effectively.

So you give give them credit for acknowledging the mistake and being pretty aggressive. Uh and then I think you know the you want to make sure that they're uh M you know chairman Powell's uh, desire not to uh, have a legacy of causing or contributing to long-term inflation. Doesn't you know cause them to make the opposite mistake I keep rates too high for too long and I think the market expectation is you know, called middle of next year July Something like this for the beginnings of of easing I Think the economy will likely demand an earlier move and I don't think of the FED as a or at least this fed as a particularly political institution I Think they're really trying to do the right thing. There you have it from: Bill Uh, he's kind of just to tie some of this together.

He is now kind of saddling up with other players such as Stanley drunken Miller same thing A lot of these players are now going long Bonds on the idea that we're going to start getting rate Cuts between now and apparently the farthest out is mid next year, but some players are calling it Forward earlier I Believe uh Bill Akman Definitely long bonds. Well, he was short bonds. so I don't know exactly how he's playing it I Don't think it, um, really detailed his own position. Is it broken down in here? Billionaire investor Bill Akman is betting the Federal Reserve will begin cutting interest rates sooner rather uh, than later.

The persing Square Capital Management Founder said such a move could happen as soon as the first quarter. Traders are fully pricing in rate Cuts in June with a Chance of cuts happening in May Uh, price at about 80% So those numbers wildly different than what we just saw on CNBC this morning? Wildly different. The FED began aggressively raising rates in March of 22, leading to the fastest pace of rate increases in four decades. The Central Bank has yet to cut rates even as US inflation has broadly slowed down.

Remember inflation as in the rate of increase of goods is slowing down, but it's still going up I Want to be very clear about that? this the way it's kind of kind of pitched by media and explained. It's just not accurate. It's not truly forthcoming. Things are still getting expensive.

More expensive, just not at the same rate that they were increasing in price last year. What's happening is the real rate of interest, which is the what impacts the economy keeps increasing as inflation declines. So that's what Acman just said. Uh, in this, it didn't really break down how he's necessarily playing it I know with Stanley dren Miller he is long the 2-year Bond and then he short longer maturity bonds.

uh, for probably some sort of hedging situation, but you're getting some pretty well-respected people saying in the short term as in the next year or two U not the short term the way we talk about it and doing degenerate trades, but in their definition of the short- term next year or two, they are basically Bing against Shields Bing on bonds. Now before we get into more of it. uh, little bit of a sad news here. Charlie Munger Investing genius in Warren Buffett's right-hand Man passed away at the age of 99 n from I Guess a little bit of research into it.

uh I mean he was an old dude. He passed away peacefully with friends and family. This guy was a true OG Uh, he was always there at the Birkshire haway things. Um, like those big meetings in Nebraska uh I Thought the guy was absolutely hilarious.

He is definitely more of that long-term investor. He was not the biggest fan of crypto, but he taught a lot of people. He inspired a lot of people and in my opinion just from like his comedic timing. uh I don't necessarily agree with it, but this guy is the guy that like had the ball to call Bitcoin of venial disease like and he just he was hilarious.

He was unfiltered and I loved him for that and also I just appreciate what he did. Obviously the guy is a top tier genius, one of the best investors of all time. Um so my hats definitely like off to him and his career. and then obviously on this sad note, just my thoughts with his uh, his family, his friends.

um but yeah, 99. He obviously had a great run and he is a guy who crush it in many, many facets of Life All right, remember earning season effectively over. there are still earnings tonight after the market closes I Know some people will probably be interested in Snowflake and Salesforce so just want to throw that out there tomorrow. Maybe some of you are playing Cracker Barrel I don't know, maybe you're playing TD maybe you're playing Kroger Ulta is coming out Thursday Earnings There's still earnings coming out.

But really, at this point we could say that earning season's over, we'll have a couple week break and then the whole next earning season will start again. While we're talking about individual companies, GM initiates a$1 billion buyback, boost dividend and reinstates 2023 guidance after the UAW strikes. Very, very very good news for GM Uh so whenever you have a company doing a buyback that's typically thought to be pretty bullish, boosting dividend thought to be pretty bullish, and then also reinstating their guidance now that the strikes uh, like are going to be basically concluded couple things. Uh, right there it, that's good Good news for GM So shout out to anyone I don't really trade GM I Find it to be a bit boring, but we do talk about a lot of automakers more so specifically Tesla But anyway, wanted to give you the good news there on GM I have some crazy news and I want to get your thoughts on what in the world's happening Mark Human says he plans to leave ABC Shark Tank after the 16th season I got one more year to go.

The billionaire businessman and Dallas Maverick's owner said on an episode of All the Smoke podcast Shark Tank is in the 15th season so he has one more year to go. But as you could see he was described as the Dallas Mavericks owner. But then the news right after that is Mark Cubin is selling majority stake in the Dallas Mavericks to the Adson family billionaire Mark Cubin is selling a majority stake of the NBA's Dallas Mavericks to Adon and her family. the largest shareholder of the Las Vegas Sands is selling $2 billion wor worth of the company's stock.

The company sent in a filing that Allison would use the proceeds to buy the sports team. So here's the breaking news on it. All right? just actually getting off the phone. Got some breaking news in the World of Sports literally breaking right now Billionaire Mark Cubin, obviously well known to the CBC audience, is selling his majority stake in the Dallas Mavericks to the Adelon family I Can confirm that CBC can confirm that deal now Cuban Paid 285 million for the team in 2020.

Guys, that's not a report. We have got this. I'm confirming it right now. Uh, CNBC confirms that Mark Cubin selling the majority his majority stake in the Dallas Mavericks to Maran Adelon.

Now there there's some this is. Kill a prompter guys because I just got off the phone I'm going tell you what I Just learn there's some interesting Dynamics to this deal. Okay, you're going to hear that the valuation is $3.5 billion, which seems low for an asset like the Dallas Mavericks But here's why: this is the most unusual sale: I Think in the history of the modern NBA Mark Cubin is going to retain control of basketball operations so that will have. He'll still have a minority stake in the Mavericks but will have operational control over the team and its operations.

What does that mean? Well, according to my sources, what that means is that while Miriam Adelen and the Adelon family will be the majority owners of the Dallas Mavericks the team drafts, everything else will be run still by Mark Cuban Now Mark If you're out there watching the program, you know where to find us. Feel free to call in anytime over the next 38 and a half or so minutes. We'd love to hear your take on this as well. And this is interesting because what? Mark Cubin also just announced recently that he is stepping down from Shark Tank after this upcoming season, which will be his 16.

So in a matter of two days, Mark Cuban says You know what last season of Shark Tank I'm going to be selling my majority stake in the Dallas Mavericks and um, wonder what's going on? Maybe who knows, maybe Mark Hin will run for president. You never know what is going on. So obviously the fact that he still wants to be in control bring for more reaction. Sports Business and investor at Pump Investments as well of the Joe show and we're kind of flying by the seat of our basketball shorts here Joe Heard you saw how live TV is kind of working here.

You heard what I said, you heard what sham said, what's your take Yeah, things are changing by the minute. but when this news came out from the regulatory filing, uh, you know they didn't say a team, a league, a city or anything. So I'm going down the list in Las Vegas and I'm like the Raiders don't really make sense. The aces don't make sense, the A's don't make sense.

The NBA team really doesn't even make sense from an expansion standpoint, so it's not necessarily surprising to see it somewhere else. Uh, the Mark Cuban aspect of this I think is really interesting because some more details are going to come out over the coming months, but this could end up being a really good deal for both sides for Mark cubin. He bought this team for $285 million in in the year 2000. Obviously, they're selling at a $3.5 billion valuation now, so he's going to get a huge chunk of change put in his pocket.

But as you mentioned before, he's also retaining control of the team, which is kind of unprecedented when it comes to sports sales. And then if you look at the flip side of this, the Adelen family, they're getting a discount, right? The Phoenix Suns just sold for $4 billion. The valuation on the Mavericks uh, most people would have believed would have been higher. Obviously, part of that probably has to do with the fact that Mark Hin is going to main control of the team.

They also have five children in their family, two that are in their 20s. and I think this could be an asset that they're looking to hold on for a long time here. Yeah, truly is. And what do you make of the valuation even with the unusual structure? Quickly, please.

Joe I I Lost you a little bit there. but I think you were asking about the valuation which is uh, which which I think is is a good value for the Adon family and you have to look at the NBA and kind of where the NBA is headed. There's obviously been some concerns about the local media rights and the Rsns and what their valuation could be longterm, but the national media rights are currently being negotiated. Most people are expecting those to at least double over the next media rights deal potentially triple, although I think that's a little bit less likely.

so. I think some people are going to look at this deal and say he's not giving extra Insight on this I Just find it particularly odd that two days back toback, he's like I'm done with Shark Tank I'm selling my majority ownership of the Dallas Mavericks Uh, I guess he wants to. He's still in operational control I mean I guess have you guys heard anything about it? It just seems so strange that he is like just pulling the rip cord so aggressively of what like obviously he's not doing it randomly like something is brewing in the background. They made a joke about running for president I Highly doubt he's going to do that.

Uh, but something's up I hope it's more positive I hope it's not a negative thing like he's sick. That would obviously be like just sad um but something something's up and I just was curious if you guys like had heard anything, didn't hear anything. uh, but truly crazy. Truly truly crazy.

uh I just want to let you know. kind of going down through today. Uh, pinned to the top of chat in the description of the video, you could get this on Locals Mos. Locals.com So this is where the newsletter comes out, but also in here is how you could sign up for the gooni.

Discord So if you want to trade with me with other people, some sports, Gam gambling, some private teachings on the weekend, uh, some gaming. It's a cool community of people that just hang out because some trading days are monotonous and watching paint dry so more so just hanging out together talking about trades ideas. That kind of a thing. Very cool.

Community Pinned to the top of chat in the description of the video. you can get your first month for free by using the code gooni. Uh, that's all through Mac. Locals.com but let's go over the newsletter.

I Break down the previous week was coming up the next week. Here are all the major macroeconomic events: We already got the GDP report coming in higher than expected, to me suggesting that the economy is still a little too hot for the markets liking. Anyway, tomorrow we get the Pce report that'll be more impactful. Everyone wants to know what's going on with inflation, and then on Friday the FED share pal will be speaking earnings pretty much over, but with respect to today Wednesday the seasonality of Wednesday November 29th AKA Today it's neutral.

Yesterday was bullish. We had a nice bullish day today. I Wouldn't say that this necessarily means we're going to have a boring day I More so interpret it to mean hey, I'm not taking seasonality into it like account as I'm making my trades. So when I see seasonality being neutral once again, that to me does not say oh, we're having a choppy sideways days and more say says hey, don't take that into your reasoning like yesterday when it was so strongly bullish I was like okay I feel a little bit more comfortable being bullish.

This is just saying okay I'm taking that part out of my equation later this week. Little bit bearish and a little bit bearish. Uh, right now, last week there was only four Zer DTE trades. It went 444.

This week, it's already 444. We'll see if two more signals fire today. And other than that, here are the five things that apparently mainstream media want you to know: Rally resumes Yes. Overall: Market Looking good.

How are we actually trending? U Bouncing back a little bit. Let's go to the 10-minute Uh, just so you know, these are false prints. like the market didn't actually trade there. these big wick candles that you see on the spy in the cues.

You know that they're not real trades because if you were to bring up the Futures Market you're not seeing that at all. Um, and obviously these things are tied at the hip. They're both tracking the S&P 500. So these are just like cleaning out the book.

um, showing trades that probably happened earlier that just didn't properly get displayed so they just run it through. But um, it's not like it was actually hitting the time in sales. uh, the Sip feed at that point. So whenever you see big wicks in pre-market postmarket, sometimes intraday, they're not real trades I Just want everyone to know that.

But anyway. uh, right now, kind of unchanged. We popped up a little bit. We're coming back down now, popping back up.

So overall, the daily chart. Crazy strong. The Spy ever since late October has ripped to the upside. Now we're consolidating sideways and with today's strength.

depending on where we open, we might have a bit of an upside or a downside Gap Fi play because it looks like we were gapping to the upside. So downside: Gap play on the Spy 2 45627 So about a dollar below where we are in pre-market right now and then. similar situation in the Qes. Uh, downside.

Gap will play to 3978. Um, and for those of you who are maybe new and you're like what's this Gap thing it's when you open above the high of the previous day. Obviously that creates a gap to the bottom side. and if you open below the low of the previous day, that creates a gap to the upside.

So right now, um, if we were to open right now at 39268, that would obviously create a gap to yesterday's high at 3978. Um, a good vision visual representation is this one that's currently on the chart in the cues. Obviously, 37828 is the high of Monday November 13th. And then if you look at the low right here, there's just a gap.

It's a literal Gap In the chart, it's an untested area that was just kind of skipped over. Uh, so that's a quick definition of a gap fill. The reason these are of importance is just because the market seemingly has a proclivity to like to fill those gaps. Uh, test the untested regions of supply and demand a lot of the times, not all the time.

A lot of the time they get filled the very first day that they're created. But once again, that is not like something that you could like. Say with 100% accuracy, you could say it with a very high percentage accuracy, but not 100% The investing World loses a legend. Yes, unfortunately.

Charlie Munger A guy whose quotes are absolutely hilarious passed away at the age of 99. If he builds it, will they come? Disney It's falling apart. seemingly. it's just the only interesting asset is ESPN ESPN is growing and there's a lot of interesting opportunities with sports and sports books and all of that.

The park is kind of going sideways. Uh, right now. it's not necessarily growing, but it's not necessarily like falling off a cliff either. I Think a lot of people, especially if we get into a more difficult economic situation you're actually going to see The Parks get hit because people are going to pay the absurdly high Bill And then if you look at their movie productions, it's an Abomination all their movies flop after flop after flop after flop.

Uh, it's just been a box office disaster in terms of Disney and the money they put into it and then the money that they're getting back out of it. it's just missing after missing after missing so Bob Iger trying to figure it out and it's just not looking the best as of now. GM's pitch to Wall Street GM Looking good doing the buyback? Uh, they're feeling good about their guidance reiterating as soon as this strikes over. So GM it's not something that I actively trade I Just think there's more interesting opportunities, but the news is quantifiably bullish for GM Billionaire basketball.

We just talked about this. but Mark Hbin out and something has to be going on. and I bet we find out in a couple weeks, a couple months of everything that's like truly going on behind the scenes. but I think it's something more serious than just oh yeah like I'm done with Shark Tank Oh yeah, I'm done like with I Guess being the majority owner but then he still in operation Super super strange noise or news? um with Mark Cubin Dallas Mavericks Shark Tank Something's up and I want to know now very very quickly I Do have some news on Crypto? Uh, just because Crypto's been looking so so good.

But before we get into that I Need your help I need your assistance? Uh and I would ask of you to be better than you previously has. Uh, every single Wednesday uh I am in a family pick them league for football for the NFL and at first you guys were doing well recently not doing so well. In fact my current standing is seventh out of 12 as in I'm below the halfway point. Uh, the person who's the top of the list is actually 10 points higher and the person who's the bottom of the list is way way lower.

Uh, but I could go up a couple points if you guys can just pick the winning team. I'm not even asking you on the spread or anything like that. just tell me who's going to win the football game I Honestly don't know why you guys are struggling with it so hard, but let's try it again. Whatever you have been using to pick in the past, switch it up because it's an embarrassment.

Whatever you're doing, please, please change it all right. So very first one: Seahawks versus the Cowboys Seahawks versus the Cowboys The Cowboys are favored by nine and it's in Texas I. Feel like the Cowboys are going to be the obvious one? Do you guys agree with that? Do you agree? Cowboys Cowboys Cowboys The first three I see first four I see are Cowboys. All right.

great. Next one: Cardinals versus the Steelers. it's in Pittsburgh and the Steelers are favored by 5.5 You have Cardinals versus Steelers it's in Pittsburgh. The Steelers are favored by 5.5 Steelers Steelers Steelers.

Okay, we're going Steelers. Next up you have uh, the the Falcons and the Jets. it is in New Jersey. so favoring the Jets.

Uh, but the Falcons are favor by 2.5 so you have the Falcons. you have the Jets. Both are not having a good season whatsoever. Jets Falcons Falcons Falcons Jets.

Oh, it's interesting that Rumble is going Jets and then you have YouTube going Falcons Interesting. Why do we have that kind of a split? Don't the Jets have a whole new quarterback? Now is that right? Like they're now onto their third string quarterback. Is that accurate? Never bet on the Falcons Well I think if you ask Jets fans, they would also say never bet on the Jets uh. Jets are a clown show Jets All right, we can't We can't go with the new quarterback that seems crazy.

Next up: Broncos and the Texans it is in Houston and the Texans are favored by 3.5 We have the Broncos and the Texans Texans favored by 3.5 and it is in Houston Texans Texans. All right, you guys are pretty Texans Uh, the Lions and the Saints. The lions are favored by four and it's in New Orleans. So lions are favored, but it's in New Orleans.

What do we have? Lion Saints Lion Saints Lion Saints Lions Lions Saints Saints Saints Lions Lions Lions lions. Ah, this is a close one, but it feels like you guys are a little bit more. Lions Colts versus Titans Close one. It's in Nashville.

But the Colts are favored by one point. so it's pretty much fitty fitty fitty fitty. So you have the Colts and the Titans Colts and the Titans Colts and the Titans Colts Colts Titans Titans Titans Colts. You guys are even 50/50 Colts Titans Lions.

Well, that they're they're not in this one. This isn't a a three-way Colts Colts Titan. You guys are really 5050 Titans. All right.

Whatever. Oh, two bad teams. Uh, how do you guys feel about the Chargers and the Pats? It? uh, the Chargers are favored by six, but it's in Foxboro Chargers versus Pats Chargers Chargers Chargers Chargers. Dude, the Pats are so bad.

Uh Browns versus the Rams Browns versus the Rams. The Browns. The Rams are favored by 3.5 and it's in LA Rams Rams Rams Uh, Chiefs Packers I'm going with the Chiefs uh, Bengals and Jags. So Bengals Joe Burrow's out so got to go with the Jags.

All right, this is a 49ers versus the Eagles. Once again, the Eagles are not favored, but they are. The they have the better record and it's in Philly. It's in.

how are the 49ers favored by 2.5 You got to go with the but how are they even favored? I mean I Get that the 49ers are a great team, but the Chiefs are a great team too like Eagles. The only. Oddly enough, the only team the Eagles lost to are the Jets. one of the worst teams in the League this year I Don't I Don't get it, you guys are going the Eagles and I I just I tend to agree.

Uh, how? who comes from me? Um, all right, we're good there. There were other obvious ones that I just went through and picked like no one in here is going to pick the Panthers is is everyone on the Panthers team fired By the way. Very quick question before we stop talking about sports. Is everyone literally on the Panthers You can't go one and 10 and not like just restart it.

Honestly I Think fire everyone and just move the team. Act as if just care. like move it out of the state. Just act like the team never existed.

If you go one in 10 Has has there ever actually have the Jets had a season where they've never won? Is is this tied with the worst record ever? Or have there been worse records like I Guess now we're getting into the World of Sports trivia. Has there ever been an NFL team that literally just did not win? Uh, you said the Lions is that true bro. Lions went 0 and 16. the Lions did interesting Lions lost.

Whoa, That's bad. That's very bad. So when I'm stair stepping in the morning I like to just watch random documentaries cuz sometimes I get bored of shows and I don't know why. Feels like a good time to try to learn something and I think it's on Amazon Prime I forget where I'm watching it but I'm watching the documentary on Barry Sanders The arguably one of the best running backs of all time and so like I was born in '94 and that was kind of like his time frame was the middle 90s.

So like I didn't really grow up like I I was too little like I wasn't paying attention to football. my parents weren't like hardcore line fans as I was growing up in Pennsylvania so it wasn't until like the early 2000s that like I even heard the name. but I never really saw him play I didn't understand fully like what he meant to the city I truly didn't understand how good he was. but have you guys seen him I know this is weird that I'm talking about him literally like two and a half decades too late.

have you seen Barry Sanders play football? What? I like they're they're showing Clips the dude he was he was playing against children. that's what it looked like. It looked like there was an adult man playing against children. There would be 10 guys on him and somehow he he just stayed up.

they be like oh Barry Sanders out it's like Barry Sanders up Barry Sanders going dude it was crazy I didn't finish the documentary yet so don't ruin it for me. I think he just kind of disappeared because they started off the documentary with Eminem saying like and what he's gone. So I think he just randomly like retired one year I don't know, don't won't spoil it for me even though I know it's something that I could probably just Google and find out the answer for. um but I'm at the part where they're talking him like a couple Seasons into being on the Lions and the guy is dominant, dominant, dominant, dominant.

Um kind of gives me a similar vibe to Saquan Barkley in terms of a high caliber running back that not like easily forgotten. but they don't get as many accolades as they maybe deserve because the team that surrounded them was not good. If if you put Saquan Barkley on the Chiefs on the Eagles on the 49ers like do you know how much better their career would be um I just I Think there's like a little bit of a curse to being a super early drafted player because if you're if you're one of the top three drafted, you're going to a bad team because that's how they have generically, not all the time, but generically, that's why they have such a high draft pick. So I think the real Advantage is to be like you want to be drafted the first round because you get the most money but like that middle of the round or even later in the first round because then you have a chance to go to a better like team and then obviously if your team wins playoffs championships like you get other endorsement deals and whatnot.

but whatever I'm talking about it as if I even know about like hardcore like NFL stuff that's not me, not at all I love to gamble on all sports but I the same way as the market I like to look at the stats and fats and figures I'm not like some DieHard like fan that knows like every single little detail. 49ers have Mcaffrey. yeah and look how good he's doing. that's my point is like I would put Saquan Barkley in that same league of caliber of athlete as Mcaffrey.

like. Mcaffry is very very good. Sequan Barkley very very good. Like there's a handful of very very good running backs and like look at McCaffrey's performance.

the guy just destroys. he's awesome Marshon Lynch he was amazing also just hilarious I Feel like he uh would it would just be like a fun guy to hang out with? On top of that I don't think there's uh, anyone who's maybe just like as just his Charisma his like raw, charismatic ability. is anyone higher than Saquin? Barkley or not Saquon excuse me? Marshon Lynch Um, the dude just seems awesome. He just seems absolutely awesome anyway.

uh, we're wildly off task at this point, but hey, that's what we come here for. Uh, so the market? All right. we did this. hang on.

Where's Bitcoin Bitcoin holding 38k So I do want to get into a little bit of crypto here I am still seeing everyone talking about salana and I have some salana I studied it a little bit back in 2021 where everyone was talking about every crypto. So I'm not coming into it completely new. but what is going on with salana now that every everyone is talking about it way more than they used to like I Get it, it's popular, but it is there. Okay, my question to you, is there any legitimate chance that salana could Dethrone Ethereum.

Is that possible? because I always thought of it as like Bitcoin the granddaddy of crypto I get that and then the question was okay. eth kind of the second one more of the tech base that people could build off off of. obviously Bitcoin just thought to be a pure store of value while other people got in the crypto world. and they're like we think we could do even more with this stuff not just digital gold which is Bitcoin spot.

So then you had some tech being built out with Eth and then all of a sudden people were like, well, we like it but sometimes the transactions may be a little bit too long, maybe the gas fees is a little bit too high and then you had this breakout of other ones that were like, well, we could take advantage of some of the shortcomings of Ethereum and that's where you get salon. That's where you get Avalanche Avax. There were some other ones built out and if you guys haven't seen Salana in a minute, it ripped faces like this thing was cruising at 17, exploded up to 61 and as you can see right now, very very strong Eth. very very strong Bitcoin very very strong.

Crypto's looking strong and I've been burned enough back in 2021 to know not to mess around with. like all these like the equivalent of Penny socks but in the cryptosphere, just these random whatever ones. But my question is are like are we talking about the difference of like maybe Bitcoin is Apple you have Ethereum that I don't know. Maybe it's like an Amazon a meta something like that and then what is salana like a a Microsoft like it's coming up or or is this like an Nvidia like do we have Ethereum's Microsoft But then you have salana like you see what? I'm saying like they could all be top tier, but maybe one of them's on a better trajectory of growth.

I Guess that's my question to all of you. Don't forget that in 1966 Al Bunny scored four touchdowns in a single championship game including the game-winning TD in the final seconds against his Old Nemeses Bubba Spare Tire Dixon they call the guy spare Tire Bubba Spare Tire Dixon that's probably one of the coolest names ever. Uh, polygon AKA Madic Way better than Salana. Salad is being pumped by VC's soul Soul Soul Beepo Popop Uh Salana to 100 Got my original investment on a salana.

Now it's all the House's money Bitcoin Future globals Reserve Currency Voyer ruin crypto for me I'll buy gold instead. Quick question with EMA indicator are using uh saty. If you search saty pivot ribon, it'll come up. it's free.

Um, how is uh Ripple I know the the Ripple Community is big and they get mad if I don't acknowledge their existence Ripple Not moving that much right now Doge Doge is at 8 cents Doge Somehow making a bit of a comeback. How's Pepe I Got out of Pepe just because I was happy to get out for Break Even Uh oh and it's good that I got out for Break Even Pepe not holding uh so is Soul the one that's like everyone's jacked up about right now? Uh, Salana super fast. Barely any fees? Awesome. Community But is it true that like Sana was somehow in the world of like David Sachs and Sam Bakman freed and FTX like And as soon as I hear the association especially with Sam Bakman freed I'm like what in the world are we actually talking about Like is this a safe thing? So like is Solana like legitimately there and it's going to be sticking around Or is this just a pump and it's going to get Rugged the way it did in the past I I Have no question that Salana can pump.

Look at this. My question to you is is it a trade or is it an investment? Is it an active trade where you have to be like Okay, here's my risk and like if it hits that in the short term, I'm just coming out of it or is it inactive investment As in like I'm going to hold this for the next couple years regardless of what happens because as of now, obviously the price action, the volatility, it's evident that it's an active trade. So is it active trade and a worthwhile investment? Or is it just an active trade? Active trade Active trade So was hacked multiple times then is decentralized. Yeah, so they do.

Uh, their consensus mechanism is like proof of History So it's a it's like proof. Like it's a little bit different, but I Maybe we shouldn't go into that. It does have some security vulnerabilities that seemingly take down the network on a pretty regular Cadence which I think would obviously be upsetting to people. Sam is considered soul is considered a Sam coin.

All crypto is active trade like trading currency. I Don't agree with Bitcoin Yes, of course you could actively trade it, but I think Bitcoin is a legitimately good investment. Uh, Matt The catheter course. What are you guys talking about over here.

you guys talking about my P Break Cadence that so slightly concerning. Anyway, Crypto looking really good Bitcoin pushes above 37.7k Literally, right now it is at 38k. Uh uh, pushes on Doish comments from Feds Waller who's speaking yesterday one of Ford's speeches and then we actually have another one today. just before 10: A.m.

the typically hawkish Fed Governor said rate CS could be on the agenda if inflation continues to decline. Recent data suggests a Slowdown in the economy and continuing moderation in inflation means the US Fed policy is in the right spot. According to the FED Governor Chris Waller something appears to be giving and it's the pace of the economy said Waller noting October data in current for forecast for the rest of the Fourth Quarter as indicating an easing inactivity. Inflation data he said is also moving in the right direction.

So just some good comments do like I shouldn't say good because I don't know if you're bullish or bearish. We got some Doish comments in terms of the FED members speech and for the current phase of monetary policy policy, this isn't always true. but in the current phase, you could say that doish is akin to bullish. Bitcoin remains on track for $100,000 by year end of 2024 according to Standard Chartered Now before we get into their rhyme and their reasoning I want to ask you all this: Do you think I guess a twofold question Do you think Bitcoin will hit 100K by the end of 2024 and if you don't, do you think Bitcoin will hit 100K at any point in time or are you basically just saying like actually no, it's never going to get there or you more of like yeah I see 100K but maybe not NE necessarily in the next calendar year type of a deal.

Things are going as expected according to the Standard Chartered Bank Reiterating its April forecast that Bitcoin would reach 100K by the end of 2024. The new Catalyst wrote the banks Jeff Kendrick and team will be the approvals of several Us-based spot Bitcoin ETFs which they expect are likely to come sooner than expected. So right now there's many companies vying for this and if you've been paying attention to what's going on with Gary Guzzler, the SEC and all the judge rulings, it basically sounds like yes, we are going to be getting a spot Bitcoin ETF most likely right after that and Ethereum one will quickly follow. but I mean the names like Arch Invest Black Rock Fidelity Grayscale.

These companies are all in the running for a spot. Bitcoin ETF And why it's so important is because not only do you have regulatory clarity now, but on top of that, think about just the retirement. Um The Total Money in retirement accounts in the US, we're talking trillions of dollars 101 trillion. So this is now a way for them to easily invest directly in.

Bitcoin We already have Bitcoin Futures ETFs but that's cash settled that's not physically settled as in it's not The Real McCoy as in when you put money into that ETF you're not buying Bitcoin you're buying Bitcoin Futures Now with a spot Bitcoin ETF If they put money into those ETFs those ETFs are literally buying Bitcoin So not only is it the regulatory Clarity, but now we're getting more Highway onramps for Wall Street And like, legitimate sums of money to get into the world of crypto specifically. Bitcoin That's why it's a big deal. We think a number of spot ETFs will be approved in Q1 of 2024 for both BTC and Eth Paving The way for institutional investment. The Twe also reminded that the next Bitcoin having a mechanism to limit the supply and currently expected to take place in April of 2024 will be another source of price.

Upside put simply, everything is working as expected. Btc's dominant remains intact. Its shares of overall Digital Assets market cap has increased from 50% from 45 in April so slightly going up with Bitcoin I Know right now there's a lot of excitement in Ethereum. There's a lot of excitement in Salana.

I own all of them. but I Just want to let you know most of my money is in. Bitcoin I Don't actively trade crypto I'm kind of sitting on it and hoping it really plays out in the long run. I Think there is a chance for multiple winners I hope I'm in the multiple winners.

So it's interesting to see. at first a decade ago Wall Street didn't care about this at all. All analysts thought it was a joke and now we have legitimate mainstream media. We have legitimate Wall Street funds.

We have legitimate legal battles all surrounding the world of crypto, and at this point in time, for posterity sake, we're talking about this. In late 2023, we're talking about it. It had gone up to 69k, it had gone up to 69k, came all the way down to about 15K and now we're talking about a potential rally all the way back up to 100K Obviously viously if this happens and I'm not guaranteeing that it will I hope it does because I'm invested in it myself and I think there's a lot of enthusiasm around this, but if it happens I think there's just going to be, uh, more citement than we could even imagine relative to the crypto excitement in 20121. But obviously time will tell.

So Bitcoin looking very, very good and I kind of just break it down on the weekly since I am invested in it I think at a certain point there's going to be a pullback into the EMA Cloud But at this what I would love to see is this test of 41k somewhere between 40 and 41k. That would be my next major resistance where I'm like, okay, maybe a bit of a breather and if it somehow just rips past that, well, then I'm looking all the way up here at 48k now looking at the time. How much time do we have? Oh, you guys can still vote. How are you guys already voting today? How are you guys voting? Uh, as of now, 73% of you are saying that the First Market candle of the day is going to be the upside.

Um, there is a poll on YouTube on Rumble Feel free to comment if this is your first time in the show. What we do is right at the market open I Have an account that I lit the whole chat trade for. They are currently on a 12 win streak. The last 12 trading days they've crushed it.

They've crushed it. They've crushed it. They've crushed it. Uh, to the point that the account is now up Thousands and thousands and thousands of dollars.

So let's see if you guys can make it to the lucky number 13 team. I Need you to vote on YouTube and then on Rumble You could comment right now, the Bulls are arguably like dominating the current vote. Um, so whatever you guys vote is what I'm going to do now. if it helps you, if you're like, well, hang on man before I cast my vote I Want to know what the Magic Wheel of Destiny has to say about the situation? Don't you worry fam I Got you.

We are going to spin that right now. Officially in the black. It's it's. it's green.

It's it's voting. Bullish It is. It is also bullish. So I don't know if people wanted to to wait to C serote wait to make their own predictions on the day, but the Magic Wheel of Destiny has confirmed that today will definitively be a green day.

So I just I want you guys to know I want you guys to know that it I I could do as much analysis as humanly possible. We could call up the smartest Minds in the market the best market makers. We can ask the Magic Man behind the curtain where the day is going. It's not going to be as accurate as this Magic Wheel of Destiny so it's guaranteed I mean I don't know how much more effort I could put in to assist you guys with your degenerate trades on the day, beyond literally telling you where the Market's going, What what? That's it? The answer is there.

It's locked in. You could do what you want, You could try to bet against it. you could you? Honestly, it's your money. You're an adult take on some financial responsibility.

But in terms of leading indicator like predictive ability, we literally just ask the most magic wheel of all time where the Market's going. It's telling us it's going up. So I mean I I don't know what else to do? Uh Matt you need to send the wheel back. It's been wrong for a while.

Maybe just yo