Boom gang this is your market wrap up with me, matt for tuesday june 28th and boyle boy. Do we have a lot to talk about now, unfortunately, not the most ideal day, not the most fun day, not the most green day? In fact, it was painfully red not only in the markets, but also in my account. I thought the market looked pretty good, i'm gon na be honest. I started off today pretty bullish, so i went long at market open and before i knew it, i was forced to lock in a loss of 28 000.

Now, at the end of this video i'll be sharing all the trades that i made that that happened and how i recouped a little bit of it near the end of the day, but man, oh maine, did today suck. So i want to talk about the overall market i'll, be calling out all the announcements you need to know about for the remainder of this week, and then i have some news about really the hedge funds, betting against these small cap companies and how much they've been Losing an interesting post from charles payne, and i also want to keep you updated on the potential robin hood buyout, so with all that out of the way, let's hop right into it. So, as you can see, i was not messing around when i was saying it was a pretty brutal day in the market. The s p, 500 dropped two percent, the nasdaq 100 dropped three percent, the small cap sector, the russell 2000 dropped, 1.85 bitcoin came from 21 000.

All the way down to 20 000. oil is ripping. I mean right now, it's trading at 112, just under 112. Recently as low as 102, so we're seeing a strong bounce there and i save robinhood but we'll be getting to that.

So here's what you need to really know about the upcoming events and also what happened today so early early this morning, around 10 a.m. We got the consumer confidence index and you're gon na see that consumers do not have much confidence. They were expecting 100. It came in at 98.7 in retrospect.

In hindsight, that should have been my first sign to pull the rip cord around 10 am and boy. Oh boy, i wish i did, but from there the market kept selling and we did have some other things going on so early this morning we have the new york fed. President john williams says a u.s recession is not his base case, so this is reiterating the conversation that we heard from jerome powell, with either member of the congress there. When he was talking with the senate in the house, saying hey, we don't have to go to a recession, i'm not trying to vote for the whole situation and send us into a recession.

But inflation is very serious. We need to take care of it. So we're kind of getting the same verbiage from mr williams here as we got from powell last week and then after that, as you can see right here, daily uh, the san francisco fed president was speaking at 12 30.. I'm worried that left unbridled inflation could continue to threaten u.s economy.

I think that's something we already all knew like. I don't think anyone's jaw is hitting the ground right now saying: oh, we should take every inflation like. I think we all knew that we're. On the same page, so nothing too too crazy coming out of that really either the fed talks today, but just so you to know tomorrow is a big day.

First of all, we get gdp gross domestic product. This is the thing that if it goes down, if it's negative for two quarters in a row, two fiscal quarters, that's the trigger for saying we're in a recession, we get that information at 8 30 tomorrow morning. Yes, this is important in terms of the macro economy of what's going on, but i would argue it's more important in terms of headlines if this comes in at a loss, a negative number all the headlines tomorrow are going to be u.s officially enters recession. So please pay attention to the gdp report at 8.

30 am et after that. At 9, 00 am the chairman of the u.s federal reserve. Jerome powell will be speaking with the other central bank leaders. We have it from the ecb, the european central bank bank of england uh, so various ones, that's at 9am, so that's pretty important.

Then we have some other fed members speaking and then on thursday we get the next inflation report, the pce at 8 30 a.m. This is the personal consumer expenditures report very similar to the cpi, but in fact the fed likes this data point a bit more and then friday not much going on and monday. The market is closed in observation of the holiday, so some major macro economic reports coming out today tomorrow the next day so make sure you're paying attention to them all because it really does have a massive influence on the market. Speaking of the market man, oh man, we had a nice one, two three four five green day.

Then we had the day where it stalled out and the question is: does it just need to take a break and rip and do this upside gap fill the 40150? At first early this morning it looked so good. Those first 10 minutes were awesome and then all of a sudden, it broke below the low of yesterday june 27th around 387.44 and it kept selling selling selling. In fact it broke below the low of friday. So basically, we quickly gave back all the gains so now the question is: is it going to do this down downside gap? Fill excuse me to 378.83 is going to keep going to 369.40 or are we going to pop up to 401.50? There are three gap bills still in the s p.

500. All of them are eventually going to get filled. In my opinion, the golden question is: what's going to happen. First, before the market really decided to sell off today i was still super confident.

401 50 was going to come first, but as of market closed today, we're already eating into this one. So now it's not the craziest thing to believe that we might just gap-fill 378.83. So i just want you to know about the current caps in the chart, but with these types of events, the gdp report with all the fed members speaking and with the pce report, all those have the power to cause the market to go haywire. So please pay attention.

Most of these reports are an hour before the market opens, so be very, very careful with your positions now for me coming into today. Early this morning i was long in the futures market. I was long on spx calls. I was very long and unfortunately i was too late to cut it, so i took a big loss and i'll be going over that in a second and then at the end of the day, i bet against it made some of it bat and i'll detail all That to you, but right now, i'm actually flat.

I have no futures positions, no options positions, i'm waiting for the gdp report to come out at 8 30 a.m. On to another thing that i just think is interesting. This comes from my board, charles payne, over there. At fox news, it's short squeeze season again: hedge funds are net short and their mouthpieces are all over tv trying to talk the market down another leg.

I just thought this was really interesting, so the highest ratio of short interest check this out. This is the russell 3000, which is pretty much the largest 3 000 companies on the public market, the ones with the highest ratio. Their performance in the late part of june has actually been the best very, very interesting stat. I just wanted to share it with all of you, so when people are saying hey, hedge funds are always winning they're winning right now.

Well, i would point out this time frame where maybe they're not winning so much just wanted to share this with all of you. Just because i thought it was pretty interesting, the other one i want to talk about before we get into my individual trades is a piece of news i shared with you yesterday about robin hood and the potential buyout from ftx. We have a very quick small development on that robinhood source 22. Following report that sam bakeman frieds fdx could acquire the brokerage firm.

This is exactly why robin hood ran yesterday, but we do have an update and it sounds like it's a little bit more penciled in rather than etched in stone. We are excited about robin hood's business prospects and potential ways we could partner with them. That being said, there are no active, merge and acquisition conversations with robinhood, so is he being completely forthcoming, maybe or maybe he's trying to not give away? What he's trying to do? Possibly, i just want to share this. This is coming from the ceo and founder of ftx.

A deal between ftx and robinhood would require approval from both co-founders, that's vlad and bot who control more than 50. So, even if he wants to, is it going to go elon musk because he already owns 7.6 percent of the company in terms of sam does from ftx, but i mean elon musk and is he going for the hostile takeover? But right now these two, the co-founders, do have the voting power within the company, so we'll see how it plays out. Personally, i would imagine that sam wants to get in on the cheap cheap when it ipo robin hood was worth 32 billion right now at seven. It recently bounced off an all-time low.

I would assume that if he wants to pick up their 23 million users, that's how big robin hood is about 17 are active month over month. I think he could probably get it cheaper for seven, but hey what do? I know i just want to give you the update on the story. Now, let's give you the update on my personal calamity in the markets today it was brutal. I felt good for the first 15 minutes.

I was going long and it was ripping ripping ripping and then quickly it turned absolutely horrific. Let me show you what i'm talking about so right here i went long at market open. I i went over leveraged in my account i bought and then it quickly fell and fell and fell and fell and fell and fell. In fact, it got so bad and i ended up cupping cutting it after it went below yesterday's low, but this was very quickly a 22 000 loss and that's just in the futures market.

Just so you know i ended up going short because we were below the previous day's low, so i ended up writing the short out for the remainder of the day where i was able to recoup some of my losses i recoup 7.5, but that doesn't really make Up for the 22 000 loss - and i know sharing all this - it doesn't quite add up in terms of the other numbers i've gone over. That was just the futures account. This is my options account i had to cut an smh call, which cost me 1.2 k. That was absolutely brutal and i also had spx calls which cost me another.

4.5. 000.. If you add all of this up, you're going to realize wow early this morning before, i actually bought some of these puts and bet against the s p 500 futures market. I was down just under 28k.

Unfortunately, with the futures continuing to sell off, i recoup 7.5 k and also you're gon na see that i had other spx puts that i got into with the future short position and that locked in another 17 for a net of let's just call it 11.5. So 11.5 also the 7.5. When you realize that at the end of the day the net difference, it was still a loss, it was a loss of 3k. So i feel fortunate.

I was able to make back the line share of that loss and, like i said right now, as you guys can see, i am absolutely flat. I have no options position. I have no futures position, i'm waiting for the gdp report to come out, but this could have been brutal. This could have been an account blow up type of in a day i feel stupid.

I had no proper risk management. I just can't even imagine losing 28k in one day. Fortunately, i was able to make most of that back and i just suffered a loss of 3k and here's to hoping that i can make some of that back tomorrow. I'm hopeful i'm positive about it.

I think it could definitely be pulled off and i think there's going to be volatility, so the name of the game is just getting on the right side of the trend and obviously i will be streaming all this from the gd report to see how the market Actually goes so, if you want to hang out in the live stream, i will see you 9 a.m. Bright and early. I appreciate you watching this video i'll catch you in the next one have a beautiful day.