Have three lovers and I burn through Troan Rubers like no other. But when I'm not between the streets I'm busy staying undercover ain't as sweet as it seems be the jugler CU Edith likes eating at East of Eden where Windy works on Wednesday evenings and D does her laundry two doors down. so when I'm out to eat with Edith I'm always worried Windy's watching and equally that Don going to around and what's worse is Windy lives by the W world where Donna Lee goes to the pharmacy and eat it sex old man's employed there. so I choose to keep a low profile and sneak around like it's going out of style and try to keep these balls up in the air.

Yeah, they call me the jugler cuz I always have three lovers sometimes I wish I me a twin brother because it takes a lot of steam making all that hubba. hubba ain't as sweet as it seems be in The Jug yeah I had three more the month before Tanya Tina and Isadora but that all lended in a puddle of tears and blood on you down for 10 to noon and Tina turned up around one or two and Izzy use me all night like a stud one day Tanya showed up a little late and Tina turned up a lot of early so fists were flying till Lizzy r that night I'm pretty sure at the door one that threw me on the floor while CH and Tina punched and kicked and swore and long s and short I lost the fight Yeah they call me the jugl cuz I always have three lovers but they come and go but there's always another. yeah I guess I can't be pleased by just one lady. Ain't his sweet as it seems.

Be here in the Jugler? Yeah, yeah, maybe someday I'll quit this fooling round find someone to make me settle down. but I be the one to make her suffer. One of them days we'd go to sound and one of my friends would flag us down and say you know why everybody calls him juggler and I'd have to explain that they call me the jugler I always have three lovers and I burn through Trojan rubber like no other. But when I'm not between the Sheep I'm busy staying undercover.

ain't as sweet as it seems Be the Jugler. What's up nerds? Guess what? Guess what? Guess what? Guess what? Guess who wanted to say hi? Big debut? Look at her. Look how big this cat's getting. This is the same cat.

This is 100% the same cat. Look at her. Look at her now. look at the size, look at the length.

Look at her how agile she is. See, this is roughly her height, roughly her length. She's coming in about 10 pounds I would say dude, she's paper. she's just vibing these days.

She's oh vibing. She's big fan. Big fan of anything related to Strings if she was let me switch this up if she was, if she like came into the power of the presidency or anything like that. uh, her first job would be 100% to get rid of all strings like she just feels like on a daily basis.

she's just declaring Wars on any string she can possibly find. Happy Birthday! Thank you thank you thank you I appreciate that. that is very, very kind. Um, also every single day is Piper's birthday as well, so obviously don't forget that.

But yeah, she's a little string Gramlin but she's she's growing like a weed. Fake news: that's a new kitty like I just have to get one that is progressively bigger I Rent I It's like a rent a cat thing like I actually don't live with the cat I Just like rent them occasionally for the shows. Dude, she's she's just vibing. She's just vibing.

Uh, generally she doesn't want to hang with me in the morning I don't know what she's what's going on I don't know what she's I don't know what goes on in her little kitty brain, but she's just vibing with these strings today. But folks, it's Friday TGF uh TGF TGIF it is. Friday November 3rd we're starting early today. Congratulations to RB here because it means you're not getting a demerit.

Congratulations to all of you folks for being to the show to being to class on time today because we are about to get the unemployment report that comes out at 8:30 a.m. ET So we're going to have some craziness in the market now. Maybe you were away, Maybe you were hanging out with like your local Amish community. Maybe you were at a silent retreat at a like a Mon Monastery Something like that.

but in case you just were disconnected from the world, The recent week has been incredibly bullish. green followed by Green followed by more green followed by more green. And the question is is today, are we going to? Are we going to put the icing on the cake? Are we going to end the week all just green green Green Bullish Bullish Bullish bull Camp Just running? Absolutely a muck. Well, a big thing that's going to decide that is this unemployment report.

So that's coming out obviously potentially having implications on what is going to be happening in the next Fomc meeting in mid. December I Believe Wednesday December 13th Whatever that closest Wednesday is is when we get the next result. What are you doing? What are you doing? huh? huh? You just vibing you, just vibing you, just chilling. Ah, she's sleepy.

She doesn't She doesn't want to be doing this today. she's just storing some energy for Texas Roadhouse I've started bringing her as my emotional support date cuz my fiance doesn't really act like that. so I usually just bring Piper as my emotional support date to Texas Roadhouse She she likes to get her little mini half rack of ribs I like to get my full half rack of ribs Uh, she's this is what happens. She's tired now because she spends all night keeping me up like a crazy person.

Um, so she's like okay, cool. you guys are up now so I don't have to keep you up so I'll go to sleep. She has it in her mind. I Think it's like a security thing.

what you want? The pen. She's a big big pen fan, She loves pens and she loves strings. Those are her two favorite things in this entire world. pens and strings.

If I ever tied a string to a pen, she'd probably lose her mind. You want this? It's crazy cuz she doesn't have opposable thumbs and yet she acts like she look at her. She acts like look at that. Don't do that stop.

You don't need just hold it. She doesn't have a posable thumbs and yet she loves pens. It make it makes no sense. Just say just relax.

Man, be cool. Be cool. Act like you've done this before. You're a professional.

This is why we're never going to get invited on. Good Morning America is if you keep acting like this, just be cool with the pen. anyway. Unemployment report coming out at 8:30 a.m.

so now we have about a minute. we're going to check that we're going to see the reaction to the market. Then we have some other things to break down: Apple Reported earnings coinbase Starbucks Cloud Flare Um, we have a variety of earnings to go over. I'm going to talk about seasonality.

Uh, we're going to talk a little bit about the launch of the Discord If you guys want to join the Discord you could get the first month for free pinned to the top of chat in the description of the video. Sign Up for locals, Become a supporter. Use the code gooni for your first month fre the Discord There's already people in there I think uh, about 150 people signed up on the very very first day. so honestly, uh, there was more excitement in it than I even anticipated.

So I'm very, very happy about that. And today's like it was the soft launch was yesterday. but today is going to be the day where it's like the first official day. So right after the stream, right after the stream, I'm going to be spending the remainder of the day in the Discord to kind of meet everyone and talk about what to expect and also get some feedback from everyone of what to do to make the Discord even better.

Now on that note, I Do want to let you know that here we have this going I Don't want to be missing the unemployment report, but in terms of expectations unemployment they're looking at 38,8 Oober employ SP is at 430 41, 43055 We have about 20 25 seconds for this to come out. Here's the Line in the Sand 3.8% 180,000 Stephan link Chief Investment strategist and Portfolio manager and then all these AI Bots plus our boy Rick plus our boy Rick our if you haven't already smash the like button um Mac can you are you available because we could get one more row with me Becky and 69ine a box that would be Hollywood Squares that would be or Brady Bunch that would be or Brady Bunch Oh wait in the middle they had something else. Wait a minute. I'm looking down.

Uh oh, we are just seconds away from the Jobs report. Uh Rick We want it right on time. Take it away. Yes, we want it right on time.

This is the October Jobs Jobs Jobs Report and of course, we're expecting non-farm payrolls to be around a 180,000 150,000 150,000 That versus 336 Economic reports are good, good economics. Cumulative revision over two months minus 101,000 so that 336 turns into 297. Now let's move along, shall we? the unemployment rate And do keep in mind our last look on the unemployment rate was pretty important because we had 3.8 it moves up again to 3.99 Bad economic reports are good for the market Unemployment rate higher than expected Less Jobs added January When we at 4% just for a comparison, we're at 3.7 one year ago. If you look at October of 22 October of 23 now average hourly earnings up 2/10 last month was up 210.

It gets revised to up 3/10 Up 2/10 is basically the lowest levels that we've had going back to February of 22. If we look at average hourly earnings year over year, they're up 3.9% Uh, that is something to excuse me, They're up 4.1% up 4.1% This is a new cycle low if you look. since we hit 5% in November of last year, this is the lowest level. And to find a lower one, you have to go all the way back to June of 2021.

One we at 3.9 and once again just to take a look back to last, October it was at 4.9 So if wages are something that are making many feel a little nervous, especially in some the some of the settlements and some of the juicy contracts, we do see that it is coming down. It's still much loftier than 3.1 and 3.6 in Feb and March of 202. Just to put some context to it, average work week 34.3 this follows 34.4 Uh, 34.3 has kind of been the cycle low that we've had on this move. We've had it several times.

Finally, the underemployment rate which is 7.2 it continues to move up. Maybe I saved the best for last Labor Force Participation 62.7 It's going in the wrong direction. Our last look was 62.8 That was the best since February of 2020. Interest rates they always Divine Whether the report's good or bad, weak or strong? Well, well, interest rates are moving lower as a matter of fact, as I'm speaking, we've just breached the 460 in a 10-year we're trading at 456.

How intense is 456? Well, we settled it 484 last week 484 last week. That is something to pay very close attention to when you look at a two-year note which is just hovering around 490 are coming down. So in how much it's moved down on% Last week, sois Point everyone fitcoin getting a pop off of it they not doing this is clearly bullish. New this so evidently a bullish report Market Stay bullish all day.

Seasonality is really bullish. Fed World Party. Many believe the FED is done and they our party and maybe that party will be shortlived as servicing the Deb Rick Really thinks that there's going to be the headlines Joe Back to you all the all the Uh charts uh they all mve re we're going to get to start with you. Steve I mean analysis immediately weaker gold immediately turned around ran up the Dow Jones went basically from from down a little run change to up sharply the 10 years at these AI 484 it seems like we were just at five.

I mean I think five we were just at five and now we're four and a half. Yes, on the 23rd a little bit more I miss that vill the biggest The Benchmark for the biggest most liquid Market in the world and it's moving like a penny stock in terms of the volatility of it. Um, which by the way is another issue we could talk about another time. but what I want to talk about is the uh uh, the job market Joe And and just first of all, the number is a little weaker than it really is.

There's 30,000 strike numbers in there. You had a decline in transportation costs uh sorry, uh, transportation hiring there, somebody ringing my doorbell, there, somebody's home. um and and then you also had about five or so on the actor side the Mo picture side so add 30 40,000 which is the uh the general consensus that was expected. number gold back over all over the place.

Huge addition. also a big addition. dollar vomiting gold. it's been a little cing a bit of a gold.

I mean look at GLD gold up yields down dollar down Market Given the uncertainty of the fact that this number is going to be revised and it's plus or minus 100 the prior Uh revisions downward um, the easier numbers when it comes to Uh, wage gains and and if you're looking at not the job level, but you're looking at pressure in the job market that could potenti create concern about infation and then what? I see just very quickly before we get to the panel I Want to talk about the FED fund Futures which have the probabilities of hikes have come down, probability of cuts in June has come up Cuts in June never. That's a little too optimistic there. Brother pal knew what this number was. 80% chance of no change at the next FC meing December But they're saying tilt was warranted.

Yeah, does it look like that? Two of a chance of some form of a cup by June I I You know I think that I would not call it because we still have a ways to go and all sorts of shocks could come. But if we start to see if we continue to see what we're seeing right now then we're finished. Um, and what we're seeing right now is clearly a a labor market that is slowing enough that we're not going to see the tightness in the labor market continue to drive inflation. Um, you know last month's number I think just sort of, you know, sent the wrong signal.

We all knew it was too high. We all expected it to get revised down. Um, you know last month we had upward revisions to the two prior months. This month we have downward revisions.

Um, you know there's like this whole glass, half full glass, half empty story. You can tell when you look at this data. but I think at the bottom line is it's a labor market that is slowing nice and softly exactly like the FED wants it. Scott We we just had secretary Buddha judge on and we had a lot of conversations about planes taking off and Landing I mean the the FED is it bringing it in here for a for a a pretty good three-pointer I Mean it, this is.

This is a pretty maybe we could pull off this soft Landing Trust me. I'm surprised as you all are if you look across the numbers that we we got today again with the downward revisions. Uh, it's looking good. you know the and the the manufacturer ing number is.

like you said, it's distorted because of the UAW you take that out and it looks like it's basically flat which is actually pretty good given how uh, the industry is generally struggling right now with output and other things. So uh yeah, if if you're if you're at the FED you're you're really and you're or if you're a Fed Watcher worried about another hip you got to be happy. Yields: this is bullish team Stanley Dr and Miller's bet on the twoyear bonds dude is going to make him a B going make a cool 10 figures Are you? Does this mean you're going to be telling people to buy things? Uh yes and I have been actually buying over the last couple of weeks I think we absolutely have seen Peak rates and that means risk on and I think you want to have a two-prong approach you want to add to the companies that had had great earnings and that is Falls right into the Fang camp. And you also want to own the company's the laggard you have now is over and so you're going to have a catchup trade in those kind of names.

But bottom line is the job market is slowing. average hourly earning still a little hot, but when you add in from yesterday unit labor cost falling and productivity Rising that's also a good recipe on the inflation front. and so that's why I think we have seen Peak rates Rick you you would I'm going around just sort of going around. but I mean the the move from five that we were thinking to six or seven I mean it's less likely from 4 and a half isn't it? Is it? or we? I mean it could all a year from now? we could be.

you know, back above five or or even six I There's no way to know, but this is certainly headed in the right direction. All of a sudden are the are the worst case scenarios off the table. Rick Well I'm not sure what the right direction is Joe I'm sorry I'm preoccupied with 307 trillion of global debt and the rollover risks that the US government and corporations. We know that the duration of the treasury portfolio probably is what in a 2 and 3/4 interest rate under 3% right now on servicing the debt and that's what somewhat under 700 billion As we get into the you know late parts of the third quarter 24 and a little beyond that uh as the rollover process because they didn't do enough longer data treasuries pushes the yields up on the portfolio of the treasury, and the servicing of the debt starts to cost more.

That's when I think the sugar Buzz Runs Out that's when I think I I my agreement with Stephanie Link sure I think there's a window here to buy stocks and I think many Traders don't look that far down the road. We live in a very fast Society Push button moves all around the world. so I think there's green lights I think you're right. interest rates most likely are going to be pressured lower for a while, but I wouldn't get so used to it.

I Really do think that this is going to be a two-pronged approach by the markets to try to, uh, get ahead of fiscal dominance. get ahead of some of these issues if that's even possible at this this late stage in the game. But yes, I think the end of the FED party should have been dramatically uh, uh, expected. and I think there were many that were early and I think some of the geopolitics made it a little messy in the early part of October Uh, Also, do not forget and this is important.

Today's Friday politics is is a wild right. Sometimes we have a lot of things going on. demonstrations in DC expected so look for Traders to be going counter trend on some of their positions late in the session. Today is she a blue Russian She jungle found the wood which is that? The thing that has been freaking out the B gray color has been the things that it didn't know were going to happen I Agree completely with what you're saying about the total amount of debt about the longer term Fiscal Trajectory of the United States with entitlements, that stuff was known.

What I think was important this week and the reason why we've had this very positive reaction in the bond market was the treasury market. The the bureaucrats and the pencil pushers who do the refunding stuff took some of that off the table. They did two things. One is that they took pressure off the long end issuance, put it back into the shorter end of the coupon curve in terms of how they're going to solve the debt or or sorry, issue the debt and and pay pay, pay the tab.

The other thing they did is they told us you know what? we think we have just one more quarter of increased issu in. So I think that's taken some of the edge off of a problem that was known and taking some of the unknowns out of the uh. overall the numbers aren't that big, the numbers aren't that big and you know what? Wrong again on interest rates. Let's just say for example, rates are going to go to 10% Once again, they may not be issuing enough long-term debt.

and once again, they're doing the very simplistic thing. They're looking along the curve and issuing where it's cheapest to issue. Is that really the best strategy? I'm not sure I don't fure. The problem is.

the problem is you said that the treasury is doing everything correct. Well, if it's they're doing everything correct Isn half one% half a 1% in August of 2020. What did they think they were going to see? Negative rates? All I want to know is how I can win a cheeseburg here. How Cheeseburg Trunch! We learned about this yesterday C Yet and he's right I mean you? but you barely about they did one more you heard it Global de00 trillion thew As a world, how are we all in? You get your Burg I my were we fucking taking loans from the galactic Corporation bety thanks uh everybody got where's moneyy doesn't make sense We were going to talk K Rick was talking KO language there there Scott you know what I mean about all the debt and going up I would to let you uh Echo that I'm sure Stephanie thanks you got to get to work buy some stock I it is.

It is good to know that there's a lot of other things who owns the world. Debt aliens. They tell me we got to go. what do you want? We got n box all right When we come back, we've got more reaction to the Jobs report, what it could mean to the Fed's inflation battle.

Economist Judy Shelton will join us after this break. Check out the Futures The Dow now up 150 points after being flat heading into this, got the S&P up by 20 points. the NASDAQ up by 56. Looks like the goldilux scenario as far as the Market's concerned.

at least for give the world your message. You're talking to potentially millions of people right now and you're just going to be quiet about it. This is your point. This, this is your moment.

your moment to shine. She's a little shy. Give her a second. Tell tell them what you were telling me last night.

Tell them how you really feel about them. the whole thing about world domination. They want to hear that they want to hear your plans for world domination. It's okay.

you don't have to be shy. now. come on. You could tell them you can.

It's the big secret, guess not. Little little stage fright which is embarrassing for someone who wants to take over the entire world. but those are 100% her plans. All right.

Now if you're just joining, first of all, you're late. But that's all right because the market is popping, popping, Popping spy up yields down dollar down. So Gold's up markets up yields down dollars down. Why is this happening? Cuz unemployment came in higher than expected.

They were expecting 3.8% came in at 3.9 They were also expecting an ad of 180,000 came in at 150,000 on non-farm payrolls. These are bad economic reports. Less Jobs were added than anticipated. The unemployment rate.

The amount of people unemployed actively looking for a job is higher than anticipated. So bad economic reports are bullish for the market. This isn't always inherently true, but it's true this time around because it's a sign that just maybe what the Fed's been attempting to do to kind of dissuade demand and push demand down. Maybe just maybe it's working.

So that's exactly why we're in this weird situation where things are popping on bad reports. So uh, I would say this might be sealing the deal on another nice bullish day. Monday Green Tuesday Green Wednesday Green Gap up even higher Thursday green and now we're going team. We are like we might be ending this week out with perfect five.

What's going on here Piper Might be ditching us on this one I Don't think you guys could see her, but she's disgruntled. She's unhappy. Uh oh, she's going where all the wires and everything is for the show. So let's hope that if I randomly get cut off.

just understand it's cuz now Piper has found all the cords for my computers and my PC and my light. Oh nope. now she wants this pen. You want the pen.

Sell me this pen. You sell me this pen. Well now she wants to look at the cues I suppose. sell it to me.

Do you want it? I'll put it on the ground. Do you want to go on the ground and play with the pen? There it is. Go get it. Nope.

You just want to watch it from your perch. All right. Do whatever you want. dude.

Uh, you guys can't see her. but there's a cat like right here. like right just on the keyboard or doing Piper things so like Oop There She is so you could kind of see if she stands up a little moreo What a finance show. What a finance show this has become I Don't even know if we've really talked about the mark.

All you need to know is things are green like. What else can I say it's green. Congrats if you're a bull. If you're a bear, you got merked like that.

That's the show. The issue is is: how am I possibly going to say this now from 8:47 this exact moment all the way till 11. If you've been bullish, you're making money. If you've been bearish, you got merked.

That's the show I Don't know how to drag it out any longer NASDAQ 100 Futures Slip on Apple Well, they probably changed this title by now Dow Futures add 100 points after soft Jobs report sends yields lower two-year treasury yield Rises As investors await Key Jobs data, they probably should have updated this title by now. Treasury yields tumble after payrolls report misses. So why is this bullish? Well, generically higher yields are thought to represent a tighter financial situation. So it's been going up and up and up.

And that means bonds have been going down and down and down. But now we're finally seeing a reversion yield kind of coming down. I.E Meaning bonds are potentially finally going up. I Do want to let you know there are other reports Today we're going to get the S&P Global Services PMI We're going to get non-fact PMI and non-manufacturing prices coming out at 10:00 A.m.

So I think we have 1 at 9:45 and then 2 at 10:00 a.m. today. Just so you know, so we're these were the major reports. the non-farm payroll, the unemployment average hourly earnings.

All of this was the like, really influential stuff and that's what caused the market to rip this morning. Uh, but there are three more reports for the day: 9:45 10: A.m. 10 A.m. Just so everyone knows us.

October October Jobs report to Mark end of blowout payroll gain. So it did. Uh, surprise surpris. These mainstream media in the world of Finance actually got some form of a prediction, right? But the Bulls are on Parade team.

Uh, they're They're living fast, They're living Furious And the market is ripping. You know, who's not ripping Apple Tim Apple AKA Tim Cook aka the guy who took over at the world's largest company at least in the US Stock Market Apple stock dips after weak outlook for December quarter Revenue so they actually beat on EPS they beat on on Revenue But it's once again a futur looking thing that is the problem. same thing with Meta Meta actually beat on everything. but it's futur looking guidance not so strong Apple Lacks a clear path to growth this holiday season.

After four straight quarters of shrinkage, You and me both brother, you and me both four straight quarters of shrinkage. Talk about 29 years so making a bit of a recovery now. but Apple went from 179 up to 182 down to 169 now bouncing a little bit back to 174. Are you back? Are you staying? or are you going? Are you going to be part of today's show or not? You need to help me help you.

Either you're going to be in the show and you're going to earn your little Meow Mix Or okay, she's she's pissed folks. I've just noticed that she's more afraid of me than I am of her and that's the thing I Always have to tell myself is like as long as I she just doesn't want any outpouring of emotion. uh I Notice that if she senses that I'm scared, scared, she'll attack. but if she senses that I'm fighting her for territory, she'll also attack.

So the best thing I can do whenever she gets in these types of moods is like just kind of go gargoyle mode. like I just sit there and I try to exhibit as much of a neutral tone as I possibly can. um and I find that that's the best way to really handle her. Uh, when when she gets in these types of moods? uh Matt Scared of course I'm scared dude, this is a jungle cat.

I Literally living with a wild animal? Uh I don't know how big she's going to get this thing if she keeps growing at this rate. I did the math out. If she keeps growing at this rate, by the end of the year, she could be clocking in at 200 lb. So I don't know.

like I'm just I'm extrapolating out and I just keep feeding her and she keeps getting bigger. But this is. this is a freaking jungle cat. Man.

A freaking jungle cat anyway Apple reported, but on top of that, paler reported before the market opened yesterday, they crush it Square Reported Um, oh now it's called block but Square Rocking it's it's currently up 18% This is like the Payment Processing Company so they're rocking DraftKings Dkng actually also doing pretty well. currently up 5.8% getting above that 30 Mark If this gets going, DraftKings might be kind of getting done with this consolidation period and breaking out to the upside: DraftKings Looking good Starbucks Coinbase Cloud Flare: Let's take a look at those SBS Everyone I Guess spending money on overpriced lattes? So SBS up That was actually before the market opened yesterday. Coinbase didn't do so well. It's actually down 2% but holding I mean it could be doing a lot better.

Speaking of crypto and everything going on there I don't know if you guys saw it, but Sam Bakan Freed officially found guilty on all seven counts. The jury was basically like hey, do we really want to stay here all weekend and they're like nah, I'm feeling that he's guilty and they kind of looked around at all of the jurors and they're like yeah, no, he has like a guilty Vibe for sure and they're like cool. let's find him guilty on everything. So they did miss my Super Chat earlier.

My apologies: do spy QQQ and bonds follow each other. Not exactly spy and QQQ have a high high correlation because a lot of what is appropriately weighted in the Spy is also heavily weighted in the que. so there's a lot of correlation there, but not necessarily. Bonds In this particular circumstance, they are going to be somewhat correlated, but that correlation doesn't always hold.

It depends on the current phase of monetary policy you're in. But spies and Q's commonly have a high correlation with each other. and for this period, you could also expect that if bonds start to rebound, that equities will do even better. So I would say a direct correlation, but the velocity of the equities Market would probably be more.

but once again, that's for like the current phase and my apologies for missing that. So anyway. Sam Bakman Free! This was announced yesterday. Jury finds Sam Bigman Free guilty on all seven counts in fraud trial all right now I'm just told we actually do have it and what Kate has it is reportable Kate Rooney Sam Bankman Freed guilty on all seven counts of Fraud and conspiracy confirmed here Brian that is confirmed Sam Bankman Freed found guilty in his criminal trial Fraud and conspiracy Al Regi the Cser Count one: Wire fraud for FTX Customers guilty of that Count Two: Conspiracy to commit wire fraud on FTX Customers guilty there Wire fraud here for lenders Count 4 is conspiracy to wire wire fraud for lenders We also here Brian have count five Conspiracy to commit Securities Fraud, conspiracy to commit Commodities Fraud and conspiracy to commit money, laundry and guilty on all seven counts there Brian All seven counts.

He did not get his sentencing yet. that actually won't happen until March and there's a good chance he will be spending the remainder of his life in in prison. Uh, I mean his. There's a very real chance that his sentencing could actually add up.

Like each individual one could be 20 years and a lot of people are like saying like his sentence could be over a hundred years. Um, chop he will get five years I Highly doubt it like they're going to throw the book at this guy. They're going to make an example out of this guy. They're He's going to get nailed.

He's going to get nailed. It was a one month long trial and the verdict coming out after less than 5 hours of liberations. You've been here since 6:00 a.m. Did you know you were going to stay this late? I I Did not expect this and this is a very sort of rare unusual um, you know, moment in in the history of of fraud trials.

Um, as you mentioned, like you know, we weren't expecting this to happen even this morning because all of the if you look at the the Uh history of sort of the high-profile criminal cases, it's taken weeks, sometimes you know, months for for a jury to make deliberations. So for this to arve within less than 5 hours I Mean this really shows that the jury was convinced that this was a fraud trial, that in fact, Uh S. M. Freed had every intention ofing his investors from very earlier on and was also convicted of all seven charges.

So that also kind of solidifies that they were very convinced from the very earlier on that you know he did, in fact, uh, commit these crimes. Angela What comes next? Are we expecting an appeal from the defense case? Uh, we know that sentence in the date has been set as well. What What was he facing from here on in? Well the defense said that they are very disappointed with the results and that they will be um preparing for an appeal. Now we heard from the judge today that the actual sentencing this isn't the end of it.

he's going to get charged with five getent of but also circle like Caroline Ellison or Gary Wang who already pled guilty and is cooperating with the prosecutor. So March will be a very busy month for us again where we will be getting sentencing. uh, details of a lot of people involved in this case. there's a conviction by the jury by how fast this came out, the fact that prosecutors painted this pyramid of Deceit uh, does that affect what the uh sentencing could look like I Mean we talked about the fact that he could face decades in prison so he could uh you know, technically prison because he was convicted of all charges and some of these charges carry a maximum sentencing of 20 years so that up.

But I think what's more important toe here is you know whether him actually taking the stand right which was a very unusual move for highr profile cases like this because it opens up the possibility of you know hostile cross-examination and also a lot of what he said on stand could be you know turned against him uh for for for the sentencing. So it'll be interesting to see how the judge takes that because obviously his testimony was not good enough to convince the jurors. Angela Does this kind of have repercussions for any other cases that we might see within this space? Clearly, we've talked about how the prosecution had a pretty strong case going forward and clearly with you know, the short amount of time that the jury required to deliberate, they were quite convinced of that. Is there anything else that we should be looking out for in terms of broader industry implications here? Definitely.

Um I think uh, what we heard from Um Damen Williams just now who really brought this case? He's the Manhattan Attorne General He said that this was basically a Triumph um, you know and that he's really cracking down on not only the crypto industry but really the the financial industry right? That these fraud cases crypto may be new, but these fraud cases are old and that he's really bringing like full force to address some of these issues. IND We are see more cown We are like to to see more regulatory uh, sort of scrutiny on the industry and it'll be interested to see how this you know the Fallout of this for other cases uh that the SEC and and other Regulatory Agencies have against crypto companies he's I mean I See some people thinking he's going to get off easy I mean you've been saying that for a while and no part of me agrees with that it he's going to get destroyed Like absolutely destroyed. A lot of people thought like he'd be found innocent. They're like I guarantee it like he's just Don No No no.

I get it. I'm cynical too. I Get that we have weird things with the government, but they're going to make an example out of this guy. Um, he's going to get Max sentence but probably only serve 15 to 20 I Highly doubt it.

I Think this guy's going to spend the rest of his like life just rotting way in prison. it'll be. Max Security I Don't see any way in everyone who's like writing legal opinions on it. This guy's going to get screwed.

He's gonna get screwed. Um, hang on. So we were just talking about coinbase and that's how we got into this. But one more thing with Earnings Restaurant: Brands Revenue Misses estimates hurt by Burger King's underperformance.

so I guess a lot of you are being a little bit healthier and not shopping at Old BK So anyway, earnings at this point 90 95% of the S&P 500 has reported earnings. Still technically does continue for two more weeks, but from here on out, all the major names have pretty much reported. The only other one in terms of tech that you're probably going to be really, really interested in is NVIDIA and Nvidia reports in mid. November Um, but coming.

Speaking of Nvidia Uh, coming back to this question, do you think there's more benefit to holding industry specific ETFs or stocks within that industry long term? I Think it depends. So for me, let's look at the industry of semiconductors I would rather hold Nvidia than the sector as a whole. I I do like SMH SMH is the ETF that tracks semiconductors um, the processing ships. but I like Nvidia way more than the sector as a whole.

Now that's one sector. Now if we we were to talk about something like marinara like Devil's lettuce, well I would rather just hold the sector there because I don't really have a clear line on who I think would the winners and the losers within the sector would be so the an in my opinion, just these are my own thoughts. It depends on the sector. There's certain sectors where I just think the sector is strong.

uh, marinara I'd rather get the sector than an individual company uranium once again, I'd rather a sector than an individual mining company or anything like that. But then there's other ones such as semiconduct where I do like Nvidia the best. Now on top of it, for those of you who are like maybe a little bit more active or maybe you've heard of pair trading or Arbitrage there are certain trading techniques where you use the ETF And let let's say that the ETF is underperforming and then an individual Equity within the ETF is overperforming. You could Arbitrage it to a certain degree.

So let's say Nvidia is doing really, really poorly. But the ETF is doing strong. You can long Nvidia and short the ETF until some sort of parody Or vice versa if Nvidia is doing really well. but the ETF representing that industry is underperforming.

Once again. there are like Arbitrage pair trading opportunities there. There's a lot of books and videos on that if you want to do a bit more of a deep dive, but just something to consider. Um, with respect to today, yes, things are still currently looking very bullish.

This buy is at 432, almost 433. Gold is up. Uh, we were looking at yields Vomiting. We're looking at the dollar vomiting today's seasonality as you're about to see very, very bullish.

Actually, absurdly bullish If you look at today. over the past 25 years, the Bulls have won this day 69.2% of the time. The profit factor is 2.08 If you haven't heard of this metric profit factor for every dollar spent, how many dollars have you received back? well on this individual day? buying it open, selling it close on the S&P 500 futures Market you've doubled up. This is a look at the equity curve.

This is a very, very bullish day. so seasonality for the day in general is bullish. The reports that we got this morning, the unemployment report also the non-farm payrolls report the recent developments with the Fomc The reports for this particular year in this particular week are definitely definitely bullish. Now Is any of this a guarantee that today has to be a bullish day? Absolutely not.

We're just talking about when are the when's the deck stacked in your favor? And right now, the only thing that I don't like about this situation in all reality is the fact that we've already run so much and a very, very deeply believe in the concept of mean reversion. So the only thing that I don't like about being a bull on today is the fact that it's already been so, so bullish. So that's one thing to consider. None of this is a guarantee.

We do have various downside: Gap fills, uh, 43092 the high from yesterday. We have another downside gaple at the high from two days ago 42350 and then there's one even below that. Uh, at 4853. so we have a gap full one.

Well, one, two, three. So three downside: Gap fills and I'm pairing that together with mean reversion. That actually makes me a little bit less bullish. But when I consider seasonality, when I consider the fact that most earnings have been bullish.

All the recent announcements that the FED might finally be done with the Fed rate hikes. That makes me very bullish. So I am of the opinion that the deck is stacked in the favor of the Bulls today, by the way. Um, so this is the newsletter that I give out for free So Mls.com But when you're signing up and it is pinned to the top of chat if you want to, the Discord went live yesterday.

I'm going to be in the Discord right after the show today, trading with everyone. kind of meeting everyone, setting expectations talking about what we're going to do in the Discord If you want to join the Discord M Local.com you can get the first month for free use the code gooni G n IE The reason it's free is because I don't want anyone to feel like they've been like taken, or got God or anything like that. So try it out for a month, see if it's for you if it is for you. Awesome hang out! It's only $30 a month and I think I could provide way more value than $30 a month.

That's a dollar a day. but if you're like no if it's just not your speed, if it's not your style, if you don't like me, if you don't like the people in there, no harm, no foul, you didn't have to spend any money. So check it out. Ma.

Locals.com Um, that's how you you have to be a locals member. That's the thing that's connected to Discord But on top of that, you're going to get the newsletter. You're going to get some of my degenerate trades and other people's degenerate trades. and also within the Discord.

Starting this weekend, we're going to start doing like teaching classes. I'm building out a syllabus and we're going to start with options. so if that's something that interests you, um, obviously you don't have to be there in real time because it would also be recorded. Um, but once again it you can try it out.

like just use the code goon and you're going to get a month for free and you get all this stuff. And I'm actually going to keep adding on the other things that you get. So matt. Locals.com it is pinned to the top of chat.

Amazon's Jeff Bezos announces move to Miami from Seattle everyone is moving to Miami Everyone is moving to Miami Amazon Founder: Jeff Bezo said he's moving to Miami from the Seattle region, relocating to be closer to his parents and his Cape Canaval operations of blue origin his space exploration company. I've lived in Seattle longer than I've lived anywhere else and have so many amazing memories here. As exciting as the move is, it's an emotional decision for me. Seattle You will always have a place in my heart Bezos Spot: a seven-bedroom mansion recently in Indian Creek a man-made Barrier island in the larger Miami area known as Billionaire Bunker.

He also owns homes in Washington DC New York City Los Angeles and Maui as well as 300,000 anchor Ranch in Texas that's crazy. The base of the launch site for the Blue Origins new Shepher rocket. So rich people doing rich people things and he's going to Miami uh we know Ken Griffin is relocating all of Citadel there or at least the HQ of Citadel and he's going to have like a billion dollar State pushing a lot of things together. So uh I guess everyone's just going to Miami these days everyone's going to Miami these days days and I'm honestly I feel like I'm being left out I Do I do I do Five things to know before that stock market Bell goes ding ding ding ding today Friday November 3rd summer feeling.

Well things are great, things are so great. You know how this is feeling right now it it feels like recovery I mean look at this fake out breakdown. we pop lower highs. uhoh things are getting even worse and then just a recovery for a lifetime if the market.

If if if this is a big freaking if if the market can get above and close above 43814 Gentlemen ladies degens, we are off to the races Now Obviously the first thing it needs to get over is this 48 EMA which is roughly 430 and some change. As you can tell historically we've 1, 2, 3, 4, 5, six days. it tried to battle out here and it simply could not. It could not survive this particular fight.

Um, so so that might happen again next week. We might stall out and really have an issue here. Maybe it keeps pushing higher and we battle out at this trend line that was established from Uh October of last year connected to the lows of March of this year. Maybe we struggle there, but if it starts pushing and gets that momentum.

I'm watching the high of this recent part 438 cuz above that. I mean we're talking the top of this channel. The classic fake out breakout. fake out breakout appears to be a bear trap and we are moving to the upside taking a look at the cues similar situation Gap up Gap up preparing for another Gap up I Want to see its reaction not only to this trend line.

and once again, this is established from July to about September of this year. Once again, a third hit here in October Uh, but I'm going to be watching roughly the low 370s. Not only is that the trend line, but it's this recent resistance we ran into. But my argument is the same as with the Spy The only thing I see today particularly that makes me a little bit I Guess cautious of being bullish is it's already been so so bullish.

But once again, maybe today isn't the turn. dat maybe we consolidate next week. Maybe there's one more clear green Rippy day for it. So just something that I'm considering.

Fallen Apple Four quarters in a row of shrinking profits. But don't worry, they're not crying. I Mean they still made 90 billion in Revenue last quarter a quarter alone. Verdict in Sam Bakman Freed.

Uh I mean this. He was a scam artist. An absolute scam artist and he is probably going to be spending the rest of his life in prison. He now faces a maximum of 115 years in prison.

Even half of that, he will be spending the rest of his days in prison like the dude. uh, he got caught, he got caught, he tried to play dumb, he tried to say no, no, no, no, this is just a legal advice I got I didn't do anything wrong. No, you were taking money from people's deposits and without anyone knowing except for Caroline Allison uh sing and Wang those were the four people who knew that they were taking money from exchange deposits and YOLO it de trading it in some sort of hedge fund that was losing the money even more like it's bullshit holiday hesitance. Um so starting to look a lot like Christmas hey I think this is from the Oculus by me in New York Bold blend Starbucks Apparently no one is having issues with spending a shitload of money on I guess very costly coffee.

Uh, but they're also planning to add an additional 177,000 locations by 2030. Starbucks Just exploding, exploding exploding. Now before we get over to your questions, uh I Do want to kind of do a little bit of a quick review. Um, so in terms of the review daily chart looking bullish.

in terms of the EMAs Bullish Bullish. Bullish. Recovery Bullish. So Daily Chart: Bullish in terms of our Trend current: EMA So taking out the price, action of noise, just looking at the moving average bullish.

Recent macroeconomic announcements: what's going on with the unemployment report Technically that was negative which is doish for the FED which is bullish for the market. Recent Fomc decisions obviously the fact that they're no longer hardcore, hardcore, hardcore Hawkish I would argue that that's bullish. So kind of taking a little bit of a step back. Uh, not necessarily a 10,000 foot view, but more of a 5,000 foot view daily.

Trend Bullish. EMA is bullish. Uh. I'm going to wait for the market to open to look at the market internals to see if people are loading up into this or are they taking their profits so we have to wait for that.

But the major things I see right now is like my only hesitation to the bullish. My only hesitation is it's already been bullish for 5 days in a row. Does it really have another day in it? That's my only hesitation because beyond that, everything's looking pretty freaking bullish. So my reason bringing this up is first of all: I'm not a financial adviser I'm 50% of the time I'm right, 100% of the time.

Um, all I know is that I have a jungle cat I have a little Forest cat living with me. That's the only in this life that I'm absolutely sure about. Beyond that, take everything I Say with a grain of salt. But in my opinion, if you had a bearish position today, the way things are shaping up right now, you need to be very, very careful because unless you are somehow getting in with a lot of luck and a lot of skill and top ticking, the run here you could get blown out of your position.

So if if you're throwing on something that's bearish in terms of the overall, Market you got to really, really respect your risk. You got to really, really respect your risk. So I just want to throw that out there to everyone because as of now, just taking a qualitative quantitative review of what's been playing out, most of the deck is stacked in the favor of the Bulls I Just want to throw that out there to everyone I Mean, look at Yields are just vomiting. They are vomiting like me on a roller coaster right now.

the dollar is vomiting gold. showing some strength. There is a lot of strength in this market. No, just because we're seeing strength right now, does that necessarily mean that it'll hold all day? No.

I mean it's a Fr Friday it's options expiration so a lot of stuff could be going down. Um, but the way I'm currently seeing things. Dude, we're we're seeing some. We're seeing some bows, we're seeing some bowls.

um. me Kevin is a financial advisor. We should ask him. Yeah, but I think you'd actually have to employ his Services I think he's doing that for his like ETF and his house hack I think he has to pass all those tests uh to do some of his other business ventures.

Um, because I think there is a you could still be a financial advisor and then talk about Finance without a being Financial Advice: unless they like employ you to do so like I think they have to like sign the contract and whatnot. Um, but anyway, things are looking pretty good obviously at Market Open. Uh, you guys have been on a two-day win streak with um trading my account for me at Market Open. So I'm going to start another poll.

Market Open Now once again I am asking you not what the day is going to be. Listen to me very very carefully. I'm asking you the first minute bar 9:30 to 9:31 Do you think that that bar is going to be green? or do you think that that bar is going to be red? I'm not asking you for the day I Know a lot of you would be voting bullish I'm specifically asking you and the poll just got posted on YouTube If you're watching on Rumble right now, please comment: are you bullish or are you bearish for Market Open I'm specifically asking you about Market Open. Um, cuz that's what I'm going to be doing I'm going to be throwing on the trade at 929 and 50 seconds.

Um I Want I Want you guys to tell me what you think the first minute bar of the day is going to be minute? The first minute bar and then obviously another thing that we should be examining is the options market right here to see how that's going to be opening up. Um, so let me just get this prepped up on the day for you. All right, we got that all right. Obviously the market has not opened yet so there's no such thing as Market hours yet because because it doesn't exist, the market didn't start silly.

Don't be such a silly goose, you know at me just being a classic silly goose this morning. uh Sam Bman freed a reminder FTX donated $93 million to politicians to get away with fraud over the years. Uh, didn't donate to Gary Gendler. but I think he needs to be investigated for this because he met with s bake M Freed the like a lot Like it actually blows my mind that more people are like up my ass about FTX uh Stephen Curry Kevin o all these people were okay.

like it's interesting to know what those people knew about. Um I can only speak for myself but it's not like when you were asked for a sponsorship that they're like oh by the way, we're also compl come like where you're actually secretly going through with massive massive fraud that wasn't part of the agreement. they surprise surprise didn't tell us that they were breaking the law. So someone like Stephen Curry Tom Brady I Highly doubt that they knew.

Maybe worthwhile to look into to see if there's proof that they knew. but I Highly doubt anyone knew besides Sam Bakman freed Ellison Wang and sing I think those were the only four people on the planet who knew that massive crime was being, uh, perpetrated. But anyway, people like Tom Brady Stephen Curry Larry David uh even Matt Damon even though he wasn't really FTX he was just crypto adjacent um are catching more heat than Gary Gendler. Someone needs to explain to me how that makes sense.

How is Gary Gendler getting away in this situation? Scott Free When he met with him multiple times Sam Bigman free made his team at MIT where Gary Gendler was teaching before he went into more of like the political world and no one's no one's questioning that whatsoever. No one's questioning it. Everyone's like yeah, no no no like I Would rather blame a quarterback or a basketball player than the dude who's in charge of regulating our system. Met with Sam Bakman freed multiple times are like no one sees issues with that.

It blows it. It. It absolutely. It absolutely blows my mind that that guy is not getting tripped at all at all at all.

But whatever. I Guess sometimes that's the way life goes. They'd rather go after YouTubers like meet Kevin or Graham Stefan or Andre Jake for like Millennial money than they would actually the people who could have potentially known like and that's just like I guess Humanity Um, blows my mind. s Bman Freed found guilty on all seven criminal fraud counts.

shares of Marisk Plunge 18% of shipping giant announces 10,000 jobs. So uh, the Marine shipping industry is notoriously fial I Intention: I Intentionally do not trade the Marine shipping industry or biotech. or like medical supplies or whatever like biofarma. Uh, because it's just you're going to find when you see how those stocks go.

It's just crazy. Canant Tuna is a $40 billion industry, but it's facing some existential threats. Tell me more, Canant tuna is A4 billion industry, but it's facing some existential threats Valued at an estimated $40 billion. The tuna industry is the significant player in the global food sector.

The US imported 638 million pounds of tuna in 2021. The industry is dominated by multinational companies such as Thai Union Group, the owner of Chicken of the Sea and it faces some between 20 and 2021. per capita consumption of tuna dropped 45% People ain't eating tuna anymore Shifting consumer preferences Market Consolidation, sustainability, transparency concerns, and nearly decade long price fixing Scandal all affected tuna's popularity of Ming There's been a price fixing scandal in the tuna industry. These are the types of things that the people need to know about.

but your regular your regular media pundants are too scared to talk about. They are too scared to talk about the tuna Price fixing Scandal But I'm not afraid to. But in 2020, the first year of the Rona demand increased for the affordable and protein Rich option and tuna Notch and TI's consumption since 2011. However, Tai Union is now confronting rising cost to Du inflation, the war.

Well all right, just tell me about price fixing. Scandal This is what we need to know about. I'm going to fix it Ling Capital Must face a trial in US court over claims that they participated in in a global conspiracy to artificially fix the price of canant tuna through its ownership of seafood. Giant Bumblebee.

How is this not bigger news? There's a price fixing Scandal On the World of Ton Cana T Can Tuna tuned Canada You guys aren't going to call me out on that. You guys aren't going to dunk tuned Canada Canned tuna US Supreme Court Rejects starus tuna price. How is this not big Star Kiss is in it. Bumblebee is in it.

Chicken on the sea is in it. Everyone's in on it. Former Bumblebee CEO Sentence in tuna price fixing scheme What? Christopher Liski was ordered to serve 40 months in prison for his lead role in a yearslong conspiracy to fix the price of Can Tuna. The former President and Chief executive of Bumblebee Foods was sentenced for 40 months in jail and 100,000 find on Tuesday for his role in a yearslong conspiracy to price fix of Can Tuna.

What the scheme affected over $600 Million worth of Can Tuna sales ex Executives Who cheat American Consumers out of the benefits of competition will be brought to Justice particularly when their antitrust crimes affect the most basic necessity food. Today's sentence reflects the serious harm that resulted from the multi-year conspiracy to fix price prices of canned tuna. Wow wow wow wow. This is something I didn't Did any of you know this was going on? Did any of you know that the whole situation smelled a little bit fishy if you will.

a little bit fishy if you will I need more friends. This whole tuna pricing smells a little fishy if you ask me. I The fact that they didn't make that joke at all thus far is bullshit. Absolute bullshit.

Uh well. thanks guys. I Rely on you to tell me about crazy Financial stories like this and no one did Not One of you reached out to me and said hey, Matt let's talk about tunate. Let's talk about what in the world is going on in the world of Big Tuna Big Fish blows my mind blows my mind that you guys aren't telling me the big news.

The big news all right. Oh, did I like anything usually I save the stuff I Want to share with you Oh uh. Adam Eret is being investigated. Did you guys see this? The scumbag CEO of AMC is someone trying to put together a class action lawsuit Scott and Scott Attorneys at Law Lop investigates AMC Entertainment Holdings Directors and officers for breach of fiduciary duties.

do I think it's going to go anywhere? No, But I do wish that these guys also got prison time because I think what they're doing is very illegal Scott and Scott Attorneys at Law LLP An international Securities and consumer rights litigation firm is investigating whether certain directors and officers of AMC breach their fiduciary duties to AMC and its shareholders. If you are an AMC shareholder, you may contact the attorney blah blah blah blah blah blah Scott and Scott is investigating whether members of AMC's board of directors or Senior Management failed to manage AMC in an acceptable manner in breach of their fiduciary duties to AMC and whether AMC and its shareholders have suffered damages as a result. I Think so. Especially when this dude thought he was sexting a 17-year-old It It's interesting that people still try to defend him.

They're like no, no, no, but he was getting catfish. Yeah, he was getting catfish. But that doesn't change the fact that he thought he was talking to a girl who was underage and the fact that the Sheep within the cult of AMC are still trying to defend that they're like no man, It's cool. Don't worry about it, Don't worry about it, He got Blackfish or catfished.

He got Blackfish He was blackmailed. getting catfished. I'm putting all my words together today. he got blackmailed in a catfishing scheme.

But that doesn't change the fact that at a certain point in time. Adam Aaron A dude who's pushing 70 a crusty old man thought he was talking to a 17-year-old girl and they're like not I love Adam Aaron Adam Aaron is my Gody he's a piece of shit. Just admit it. Admit it.

It's not hard. He's a piece of shit, not hard whatsoever. And yet they they're still going to like stand up. they're like dude I just love him I I just I love I love Adam Aon so much they they sound dumb talking about them.

He got tuna, he got catfished, he got tuna fished. Um so anyway, do I think it's going to go anywhere? Well, first of all, I don't know anything about legal ease I'm not a lawyer and I don't know crap about the profession, but um, my pessimistic nature would say that no, it's not going to go anywhere I want it to go somewhere. but I don't think the class actions is I I think it'd be tough to prove it and that's I wouldn't be surprised U Maybe some of you forgot cuz I covered this a while ago. but in the upcoming shareholder vote they're asking for more legal protection.

So it sounds like they knew this was coming and they wanted protection for their decisions. So why would anyone vote to give them more legal protections when it's based on their piece of shit actions? It blows my mind it it's one thing to support AMC but if you're at this point supporting Adam Aaron You need to get your head examined. He is an absolute scumbag. Completely completely different to support AMC if you want to support AMC Hey I hope it comes back I Want the movie theater chain to survive.

but if you're supporting specifically Adam Aaron Like I said, you need to get your head examined cuz you are like you. You just got got just admit it to yourself. You got got man it. We all wanted him to be on our side.

We all wanted him to be a good person. but the dude's not like. what else do you need to know? like what other evidence needs to be in your face to realize that he's not on our side. This has absolutely nothing to do with the market, but it was just a really cool video I Saw this morning.

Wait, where is it? No, no, where is it I thought I Liked it. This one right here. All right. Uh, in the forest of South America There are dragons.

This is a baby dragon mantis. Look at this little guy. Look at this little guy. These exist.

Look at that. Look at that. It really is a little baby dragon. So I don't know if that's bullish or bearish for the market today, but I just saw the video and I wanted to share it with all of you because I thought it was really really cool and I actually think this account posts some pretty awesome stuff.

What else do they have? What else is in here? Something about some fishies: scorpions are fluorescent under UV light because they have a chemical in their exoskeleton called. FL Fluor What? Why would you just lit a square Dude Brother: Don't do w