Hello friends hahaha Data hola hola hola Me: Amigos Uh, we are here for another episode of Macros Live where we're talking about apparently the impending doom of our entire Financial system among some other things. But hey, if you don't know who I am I'm Matt Cores I'm more than happy that you are here. we're The Goonies We're here to talk about stocks, cryptos, the economy, recent political gridlock and craziness, and pretty much all the breaking news in between in this particular episode I Want to talk about why the stock market and really a lot of other markets just got their balls kicked into their pelvis? It relates to what's going on with our petulant politicians and how they're literally fighting as if they are children. So we're going to be getting into that I Want to let you know how I'm personally playing it and I want to let you know.

Actually, that's why I wanted to really do this particular episode live because I want to show you how my current positions are doing I'll be closing some before market and I'm going to be creating some new ones before that Bell goes dingety ding ding ding today. then I want to talk about a billionaire who who just lost or won depending on what side of the fence you're on the current game of the stock market which I like to call haha Now you're poor. so we're going to be talking about that billionaire who is much less of a billionaire than he was a couple weeks ago and then just some recent I guess updates of individual companies if you will. But more importantly, maybe we should be getting into the major things to be paying attention to not only tonight, but for the remainder of the week because if you haven't seen the market at all today, Boy oh boy was it an absolute crazy one.

So I hope you're having a good one I hope you're crushing the market I hope you're making some money I hope you're respecting your risk reward. With all that being said, let's hop right into it as you can see spy getting crushed Tesla getting crushed unfortunately for me, Wall Western Alliance getting crushed IP Coming down and that's going to relate to the billionaire that we're talking about. But what you really need to know is right here: Dow drops 200 points as Traders threat over U.S Debt sailing, negotiation and man oh man, this this is just absolutely fitting. straight out of money.

This is comedic on multiple different levels depending on what news sources you were looking at today, but apparently the negotiators met at the White House then they left and apparently we're not really close to stealing a deal and then they're saying that we're getting out running out of money on June 1st some people are saying we're actually going to run out of money potentially as early as this weekend and then the Republicans had the coolest like I want to speak to your manager response by basically saying uh, we want to see your math on that because we don't think we're going to actually run out of money. That all happened today I Cannot believe this is our reality, but that's the simulation we're living in right now. So here are the major things you need to know: Treasury confirms U.S default as early as June 1st without debt ceiling hike Folks, that's about a week away. And like I said, some people said it might even be earlier potentially as soon as this weekend.

While others are saying I want to see your calculator because I'm not picking up what you're laying down so as a quick rewind obviously, debt ceiling Not good. all the money is loaded into existence and they need to loan more and more and more just so we can pay off the bills. Obviously it's been a teeter-totter of a situation. Sometimes it sounds like we're doing pretty well and we're making some progress based on various reporters and whatnot, and then other times it feels like they're pulling the current back and actually showing us that as I alluded to before, they are in fact petulant children and some of them are saying that they're actually not close to a deal, which is concerning based on the fact that today is the 23rd.

So here's the most recent update as of yesterday evening and I Just want to show you this so you can better understand how things all played out today I Felt we had a productive discussion. We don't have an agreement, but I did feel the discussion was productive in areas that we have differences of opinion. Uh, we're gonna have the staffs continue to get back together and work on base. Some of the things that we had talked about so need to do anything to prepare for the potential of default.

There are a lot of people worried about what could happen to their jobs, their savings and so forth to Americans need to get ready for that. No, No, no, no no because the Republicans had passed a bill that raised the debt scene that's sitting in the Senate that was passed a couple weeks ago. There's always opportunities. Two questions: One, how would you describe the tone of the conversation tonight between you and the president? I think the tone tonight was better than any other time we've had discussions.

I'll have um, chairman Patrick McHenry come up and talk a little bit about as well. but I felt it was productive because look we both know we've walked through this for a long time where our differences we're explaining them we're we're giving a give and take of what we think would be best for moving the country forward. We still will have some philosophical differences, but I felt it was productive in that manner in the manner which we produced. and I think we were able to really focus on the areas.

this difference with enough time left to prevent Americans from feeling the economic being here. Look, you're saying I want to tell America I never wanted to be here so all the way back in January I requested meetings with the president after I won speaker only on this issue. We always knew this issue was coming. February 1st I got that meeting and I sat with the president I told him Mr President we should work together to find where we could have common ground to raise the debt ceiling but curve our spending.

So we stopped doing this and I told the president there's only two things not going to raise taxes and we're not going to pass a clean debt soon. But for 97 days he said he wouldn't meet with me and now what the Republicans went and did in the house we passed a bill that raised the debt ceiling, saved his money, put us on a trajectory where we could go to balance. This was long before Secretary Yellin told us the deadline was June 1st because we don't want to govern that way. Unfortunately, denying our ability to meet put us in this situation I believe we can still get there I believe we can get it done I always I've watched as work before I think from this discussion he knows where we are we had greater explanation of he had to be at G7 why our staffs were meeting.

We were able to explain where some positions they have I think that was a better explanation for both sides. All right. So that was yesterday evening. uh, a hint of optimism of like we're not close but it seems as if we might be able to pull it off.

And I want you to know that because once again last night after this and then also this morning McCarthy did double down on we are not raising taxes as in I mean if you look at it we went from I want to say 3.4 to like maybe 4.7 4.8 Whatever it is, we basically got a whole another trillion dollars in taxes. So the money going into the government doesn't really seem to be the problem. it's more so the government spending and that's what a lot of these Republicans arguing of like hey, we're taking enough money in The issue is the amount of money that we are sending out. That's their point.

You might agree with it, you might disagree with it I Personally think in that particular argument they have a pretty valid point. but I wanted to really share that to share more so of some of the differences of what we're seeing here. uh Kevin McCarthy A simple way for Democrats to avoid defaults is to pass the limit, save, grow act in the Senate with just nine days left to go Republicans Remain The only ones in Washington who have actually done anything to lift the debt limit and avoid default right here. Congressman McHenry says the negotiations will resume says Top Line Disagreement remains on spending, so that's the key thing that they're coming in.

Biden and his administration apparently wants to keep spending pretty high, uh, at least higher than what the Republicans are willing to compromise on, at least at this exact moment in time. U.S House Speaker McCarthy says we had very good discussions. We know where each other are currently located, but before that it was just absolutely wild. Apparently they were there for two hours that both negotiations teams and then they ended up leaving the White House and today it seemed as if they were kind of drifting a little bit farther apart.

And obviously that's exactly what the market was telling you because ever since about midday, we were drifting down and down and down. And who knows how we're gonna actually end. Because if you're watching this live, we still have a 20 more minutes of Fun in the Sun Biden worries over his default blame spur debt talks with Republicans Democrats weigh concessions for increasing federal debt limit some Republicans think default could win them to 2024 election according to Biden this is something that we've been talking about a lot and I have to share this opinion because generally most people aren't really plugged in exactly day to day what's going on in the larger picture of politics. So they all mainly know that when things are going wrong, you just blame the people in power.

And right now Biden and the Democrats are in power. So even if it's because the Republicans refuse to agree to something, if it all kind of comes apart, especially if we do have a financial economic stock Market Chaos traveicy because of the default, which would be horrible. The Democrats aren't going to get blamed for it because the average person isn't plugged in day over day. They're just going to blame the people in power.

So right now because of that, and I've said this many, many times before, the Republicans in my opinion, truly do have the leverage in the situation. they really, really do, because it's going to be a massive, massive, massive embarrassment to Biden and his team and the administration as a whole if they can't get something passed. So I think as we get closer and closer and closer to this overall situation, it's probably just going to end up being Biden and his team compromising on what the Republicans want if I had to guess. But that doesn't mean that we can't laugh.

In the meantime, stocks fall in debt limit impasse as deadline looms. So once again, just to kind of connect this to what we were talking to this morning: I have spy puts I have Tesla puts I have IEP puts. And with this, I just didn't really have too much faith in our government getting things done in an efficient manner because they've never gotten anything done in an efficient manner. So it's just me betting on the continuation of our whole political system left right in the middle.

everything on the outside. it doesn't matter as soon as you say politics to me all I think is inefficiencies and massive ways. So I placed the bet there and as you can tell today, it worked out pretty nicely at least thus far. But that's going to be changing before the market closes.

so let me explain that in a couple minutes. I Just want to rip through some of these other major news headlines: U.S default is possible this Friday the 26th treasury has 60 billion left if spending continues at current elevated Pace the balance will be negative 18 billion by this. Friday Folks, you have to realize how ridiculous it is that our government decided to wait until now to get this solved in any capacity. And I don't want to particularly pick on Biden because I know the Republicans do silly and dumb things too.

But in this particular case, if we are to believe what Kevin McCarthy's been saying, they were waiting around for a while not willing to talk about this. It feels like they literally waited for the last second to do it. Remember how we were all in college and high school and middle school? and we waited to like that final second to do the homework? Imagine that. but doing it as a political power.

That's the vibe that we're kind of getting out of the current negotiations. Pretty sad. Republicans Questioned June 1st Debt ceiling deadline As talks zero in on potential trade-offs This is what I was talking about at the start of today's episode uh, potentially the coolest let me talk to your manager' type of statements ever. The Republicans are literally saying hey, uh, we know how you're saying June 1st we just don't believe you how Wild is that I honestly didn't even know that was an option for them to be like I want to check your math there because it's not adding up House Republicans Raised questions Tuesday about comments by Treasury Secretary: Janet Yellen Setting a June 1st deadline to avoid a potential U.S Debt default.

Meanwhile, Debt ceiling negotiations are zeroing in on a small list of key issues after President Joe Biden and house Speaker Kevin McCarthy met Monday afternoon. The issue still on the table include reforms to energy permitting, new work requirements for some federal aid, and redistribution of unused Ronin 19 emergency funds. So it all comes down to just specifics relating to spending and some current money's ads out there. and they're like, well, hang on, what are we going to do with that? Apparently both sides are really digging their heels in, but it's getting to the point that Republicans are like, uh, where'd you come up with June 1st I like I I Honestly, in doing all this I never, ever ever expected that was even like a legitimate play out.

But that also just reminds me that we are in the most enjoyable, most fun simulation ever created by our alien overlords. You got to give it to him on this one. Very, very exciting stuff. So with all the chaos, you understand why the Market's coming down today.

A fair question is first, where are we going next and then also what are the things that we should be paying attention to in turn in terms of Catalyst, because we would love to know if there's anything good on the horizon Banner on the horizon and do I have that set up for you? Yes, Yes, Yes! So Wednesday May 24th tomorrow if you're watching this in time at 2PM we are going to get the meeting minutes from the most recent Fomc meeting, so there's no new decision. These are all just the exact things that were said and decided upon in the last Fomc meeting. and usually this is a nothing event. But ever since the start of really 2022, we've realized that there's important things in the meeting minutes that maybe wasn't publicly discussed on the actual day that they gave us all the information.

So tomorrow, 2PM we're paying attention to the Fomc meetings minutes and I would argue. The key thing is to understand how happy were all the individual fed members With the recent decision and also are they going to talk about credit tightening, what's going on with their commentary on the regional Banks And are there going to be some dissenters? Because right now there's about three Fed members who seem pretty open to continuing to raise rates. A lot of us, myself included thought that when we got jacked up to five percent at the most recent one, and cumulatively we it was another 0.25 but cumulatively we're at five percent, A lot of us are thinking it was done. and now all of a sudden you have Bullard popping off saying we're gonna get two Kashikari just seems kind of open to it.

Maybe he wants to pause in June but maybe down the road, have a couple more and um, Barkin he was basically saying yeah, no, we don't want to repeat the 70s I'm down for another one so I feel a little bit more hawkish than it was, so that could be a whole rent in this situation. But anyway, that's tomorrow. 2PM I Do want you to know Thursday An hour before the Market opens, we get another GDP reading and then Friday of this week we get another inflation report specifically the Pce report, the Personal Consumption Expenditure report. So those are all the major macroeconomic events scheduled on top of it.

Obviously, there are a lot of Fed speakers and then political speakers. worth the whole debt ceiling on top of it. we also are in the world of earnings, so before the market opened today, lows came out. As you can see here, not so good.

They had to lower their guidance. In fact, they actually beat on earnings or EPs and their revenue was higher than expected. but going the way of Home Depot They're like, um, we're not too confident about what's coming down the pipeline. Tomorrow before the Market opens, you can pay attention to Kohl's but the major one I personally will be paying attention to and I think a lot of the markets paying attention to is NVIDIA the leader in the world of semiconductors.

For those of you who don't know what that means, the fancy schmancy processing chips used in crypto mining used in AI used in data centers very important in the world of technology. Some would argue an important aspect of the overall backbone of technology. so that's after the market closes tomorrow Wednesday and then on. Thursday we have Best Buy Costco Dollar Tree all worthwhile to pay attention to I Do want you to know that this is essentially the end of earnings season.

There are a couple more, but all the mega cab ones at this point have essentially reported on the conclusion of this week. It's not reporting, but we do have some breaking news when it comes to Netflix Netflix tells U.S Consumers to stop sharing accounts I Have to admit this is funny because right away there's already a lot of negative backlash. But like let's be honest folks, if you were running a company and people paid you a monthly fee and we were sharing the accounts, you'd probably be pretty mad. and I I'm right there with you.

Like if I think about it in terms of a business perspective I understand what Netflix is doing, but on just a human level. it's almost just like a meme in itself that we all shared Netflix accounts and it feels like they're taking that away from us. Netflix is bringing its Crackdown on account sharing to the US The service on Tuesday outlined procedures and costs for U.S customers who wish to continue sharing their accounts with people outside of their household the streaming TV leader is sending emails to customers who share their passwords according to a blog post by the company. Netflix is giving them the option to share their account for an additional eight dollars a month.

So Netflix is getting mad like they're They're getting mad at us. and I guess just the world as a whole is getting mad back at them. Speaking of people getting mad, billionaires are now getting mad. Carl Icahn is 15 billion dollars poor obviously thoughts and prayers after Hunter becomes hunted.

This is a storyline that I've been following for a while and it's literally made me thousands and thousands of dollars. IEP is the ticker symbol of Icon Enterprises which is obviously Carl Icahn the OG corporate Raider of Wall Street that's his company Hindenburg Research a short report firm wrote up a report saying whoa, We kind of think you're mismanaged the way you've accused so many companies of being mismanaged in the past and at first it fell. it went from 50 down to 28, then it bounced back all the way up to 38 and everyone kind of assumed it was done. But if you take a look at IEP not long ago it started to show a bit more weakness as in pretty much the end of last week and this week and that's where I decided to get back into this whole debacle.

and they are paying and they are paying hamsonly so I still have that position icon is still I guess crying and being hunted and he's billions of dollars poor. But if this keeps going I think there's a legitimate chance we could go sub 50 mate or excuse me, sub 25. potentially even the low 20s. That's what I'm looking for I do have puts I just want to be transparent with my position, but he is getting murked right now.

This doesn't particularly relate to the overall economy or an individual stock, but it is a piece of breaking news and it relates to a potential competitor to former president. Trump I'm talking about DeSantis I mean your time I think it would be probably correct. Okay, um so uh yes, I um will be interviewing um Ron Sanchez and he has quite an announcement to make and will be the first time that something like this is happening on social media and with the real-time questions and answers. Uh, no, not scripted, so unscripted discussion Elon Musk The scientist big reveal: sounds like he's going to be announcing that he is running for president I Most people are assuming that's the announcement I would say that they're pretty right in that assumption, so just wanted to share that Now when it comes to tomorrow, I Want you to know that tomorrow is the start of a pretty strong seasonal trade whether you're looking at the close of market today or the open of market tomorrow and I'm being specific there because it Futures opens up at 6 pm tonight when obviously if you're training the overall Market that opens at 9 30 tomorrow morning.

so it's kind of up to you if you want to play it on clothes today or open tomorrow and it's also somewhat dependent on the asset that you're trading. but starting tomorrow for the remainder of the week? I'm talking Wednesday Thursday Friday All seasonally bullish and then when you pair them together, kind of like almost a Dragon Ball Z three-way Fusion type of a scenario. It's even more bullish, so we talked about it. There is a standalone video on the channel that you can watch for the exact entry in the exit, but I just want to let you know that the entry is technically the close today or the open tomorrow, but the open tomorrow could actually be at 6 pm tonight if you're trading the Futures market and then that leads me to something that I want to do with my position because I'm thinking that I might want to lock in my spy put gains today and maybe maybe just roll it over to some calls just to see if I can catch the seasonality.

My reasoning for this has nothing to do with optimism in our government or anything like that because maybe they could pull it off. but I mean they're just kind of crazy people, you know. So I was thinking maybe I'll just go seasonally. but another secondary reasoning I have is I think now to too many people are panicking I am a devout believer of the market, always kind of screwing over the most people possible and right now I'm seeing a lot of people who are going bearish like we popped up and now everyone's like oh man like obviously like we're we gotta like come down.

Did you see what's going on in the regional banking sector? Do you see what's going on with inflation? Do you see what's going on with the FED Do you see what's going on with the debt limit negotiations? All this they just go on and on and on. So when I see so many people I Guess getting into the bearish side of things, it makes me just kind of want to fade the public and do the thing that I'm not hearing many people talk about. So when I think about that and then also I know quantitatively that the seasonality of Wednesday Thursday and Friday of this week are all pretty strong. It makes me kind of want to go that way.

So speaking of that, let's take a look at the positions what I want to do so on the screen right now: I have spy puts I have Tesla puts I have Wall calls so that one's about me out and I have IEP puts so this recent pop out of nowhere, there was a pop around 2 45 today so that's also a little bit of a bummer. So with that all in mind, I think I want to lock in some of my attendees and I think then I want to reposition something today before the belt goes dignity ding ding ding just so I don't have to burn a day trade tomorrow. So as of now, let me just show you where we're all at. It was a very, very successful day.

My Tesla puts up 1.1 K my IEP puts up 4.5 K and my spy puts that I got into last week was not a good trade currently up 1K that's on this account and then if I look at this account uh IEP break even and then more spy puts that I bought up another 1.1 K So what's the math on that? uh two, 6.5 7.5 I I think I'm up about 7.5 K So I want to lock some of this in especially. it looks like we might be doing a little bit of a vomit into clothes. so if we do vomit like I'm almost thinking like can I do this at 355 like just something like this. Like right here it's selling so why not just lock in some money? You know you, you guys know like that's not so crazy.

Is it all right? Close position? What are we at? Three 305. Three? Give it to me at we're gonna sell all these. Nope, Three Three flat. It's really trading down.

Let's just see if I could get this filled. All right I'm putting the order I'm trying to dump all of them at 305. I'm in at 245 should be like a nice thousand dollar gain. but I'm watching the time because I want to create a whole new position and I need this money to create the new position.

Uh but what is going on here? What? Uh, it's gonna give it to me right? It has to give it to me. Why would it not fill me on that? Even though it feels like I'm being like very specific over a couple dollars here uh oh and is it gonna bounce on me into close uh oh team? What did you do? Did you tell the market what I was attempting to do here? Did you tell the market what I was attempting to do? Super not cool guys I just want to throw that out there. that uh, super super super super duper not cool. Uh, is it gonna give it to me now? Is it? um 297.

I guess I could just kill that order and just try to take him at three because it does just seem like I'm You know it's like a little bit here, a little bit there, but I guess I have some time I have about three minutes. Um, and the only reason I'm doing this as you can see the account's not above pattern day trading. so oh, a little bit of Hop Is it going to give me my fill? Is it going to give me my fill here? Hello Market Gods Above What are we doing? What are we doing? Are they going to give it to me today or not? Dude, it's so close. Like just give me the money like at a certain point you just know they're being ridiculous.

It does. I Have to admit, sometimes it does feel particularly personal to me, but here we are our fit. Dude I was ascent and oh there we go. Ding it just disappeared, locked in whatever that was about 1.2 000.

and then what I'm gonna do is we're not going to stop there like I said I'm going with my seasonality. What is uh, this? June okay and then I have 6K no I want to buy 417. okay, ten ten Ten got him. got him all right.

So I have those spy calls 416 June 2nd I have 10 I paid 354. I'm just trying to play the seasonality Tesla I got those today so I don't want to burn a day trade there IEP I'm just waiting to see how things kind of open up tomorrow and then and uh, what time is it can I sell, sell? uh, submit, order filled, order filled. all right. So I got out of the the Spy June 415 puts for 1.3 K so locked in, dropped.

uh I don't even know how I I guess I had 30 spy puts and I dropped those all. so I locked in 2.5 k So 2.5 k successfully locked in. getting out of this um and then I have about 5.5 K still open and then a brand new position that's roughly break even so. that's where everything stands as today.

and I just wanted to let you know my reasoning. I'm swinging Tesla I'm swinging IEP and I'm swinging wall you didn't see wall that's in my other account those I don't even know where they're at right now. um I'm in I'm looking at the 42.5 So mid-june and I got in at a dollar Thirty So you could fact check that for yourself, but that's where I'm at with everything and with all that being said, uh, just before the Bell goes dignity ding ding ding here? What? Uh, What are you guys feeling? Any questions, questions, comments, concerns? uh, any questions, comments, concerns of what I did locked in 2.5 000 on spy puts switch my spy puts to spy calls for next Friday I Probably no no I did switch it to the 360s I was gonna say I wish I did the 3 16s instead of the 317. so I'm actually really happy with that position.

I'm not liking wall pop drop I'm not like an IEP pop but I'm already up quite a bit on IEP Maybe IEP I'm up 121. You know what? I'm gonna do close position I'm gonna dump half right now because I'm up 121 so why not just go place order? it's already 4 P.M I missed it Okay I guess that'll have to wait till tomorrow. I was just trying to sell half of my IEP because I'm already up 100 so like why not just make it a Lotto Play where like play with really The house's money? Uh, but I didn't get the order in in time so I'll just do that tomorrow morning and so I'll just make sure to do it on stream with all of you. But anyway, I was attempting to get out of half of my IP because I'm up 100 so why not sell half and then just play with the casino's money? But anyway, that is a problem for future map, so whatever.

Not that big of a deal. But anyway, absolutely wild day. The Bears dominated today. but I'm curious if maybe over the next day or two if those bears that are jumping on a little bit too late to the short boat end up getting screwed over.

Only time will tell my bet has nothing to do with a prediction on GDP or PC or anything like that. I'm literally just looking at the seasonality. seasonality tells me the next three days are pretty strong in terms of the overall market. So so I made a bullish bet and in reality I was just essentially playing with the profits that I already locked in today.

So even if I screw it all up, I end up where I was at the start of today anyway. So no love lost. Easy come easy, go. That's what I have for you.

The Bell did go dingy ding ding ding on the day I Appreciate all the Good Vibes Don't forget to join up with the locals. Community Macross.locals.com It's pinned to the top of chat. There's a free version and premium version where you could get all my trades and whatnot. It's ten dollars a month, 100 a year.

One of these trades will probably pay for your like the whole membership for years. but anyway, that's besides the point. Check it out! I Do think that you're gonna enjoy it. If you have any questions, post it in the comment below I Have some free time so I'll be looking at everything that you guys are asking or we'll maybe have comments concerns.

Any of that good stuff. put it in a comment below but I just want to say thank you for all the good vibes I Truly appreciate it. You guys make my life absolutely amazing. So thank you thank you thank you I Will catch you streaming tomorrow morning 9am bright and early.

Hope to get you there Peace out.