Foreign. Do it for me whatever time it is. Thank you Brother oh brother oh brother oh brother. What's going on? What's going on? what's going on? Welcome Back To the Mac Coors Live Show today's Thursday June 22nd and my apologies for being late if I'm being honest I Just lost track of time I was just simply staring at Tesla and realizing that making an outsized bet yoloing something that's going to expire within a day.

and then when it gaps down in your favor, it's a special type of dopamine hit. knowing that my reckless degenerate DTF or dumb DFT trades dumb trades my DFT it was a DFT a DFT that's it. That's the new acronym. a dumb trade knowing that my DFT worked out for me I mean what else could a guy ask for on a Thursday morning? What else could a guy ask for on a kind of actually a rainy, muggy type of Thursday morning? But hey, it is what it is.

Welcome, welcome, welcome. I'm pretty upset to so you put on Tesla yesterday. upset on the spell you put on Tesla You mean my magnets folks. I I Teach the magnet trading courses.

You can get your own magnet chart trading courses for 420 payments of just 69. It's a steal. The price isn't going to go up, but it's definitely not going to go down. Excuse me anyway? Uh yeah, so get that the link is on my MySpace page.

Feel free to check that out. Um, and I think we're gonna have a lot of fun today. I Really really do, because the market is gonna go dingy ding ding ding in about 25 minutes and it ain't gonna be no normal Thursday because our boy Jerome Powell Daddy of our Money system Daddy of Monetary Policy will be speaking with Congress once again today. except this time instead of the house, it's gonna be the Senate which means I believe we're going to get to hear Fetterman ask some questions.

which makes me as giddy as a little school girl because whenever this guy gets going about anything that has above high school complexity, it's gonna be a show. So I'm particularly excited for that yesterday. Jay pal Uh, obviously said some hawkish things which the market interpreted to be bearish. I Think that'll be continuing today as of now.

I have some spy puts, some Tesla puts, and some IEP puts. We'll go over all that. I Want to give you a rundown of what happened yesterday, the major things to look out for today, and then we also have some individual pieces of news. So before we get rocking, you guys know what to do.

You know if you're listening right now as you're driving to work at work, telling your manager or your teacher, your kids to just shut their traps? Well, in doing so, Maybe that frees up a little bit of time for you to destroy the like button. And also don't forget to subscribe. But more important than any of that whatsoever is what's going on with our favorite sponsor. Street pin to the top of chat in the description of the video.

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But get the app. If you're listening right now and you don't have the app on your phone, you might as well check it out because I feel very, very strongly that you're really, really going to enjoy it. And on that note, let's take a little look you see at the market. the Spy a bit of a baby gap down.

Yesterday we closed out at what was this. Uh, four, three, four Nine four and currently we're trading about a dollar below that which is on and honestly interesting because that means we're aligning with a 4 400 level on the Futures Market. But recently we Consolidated we broke out. We went Rip City and it seems by many measurements as if we're finally taking a breather.

So when I'm talking about many measurements, Well yeah, you could look at something such as the RSI that was clearly red hot. so taking a breather from there or you could look at something as the Macd. the moving Average convergence Divergence Finally starting to bend back over depending on how bad today is, if it is a bad day, you actually might see a Macd cross or you could look at something such as just um, standard Deviation moves. This is the Keltner Channel with the nine period moving average in the middle.

that's the red line look at. We've been cooking hot. as in, we've been trading outside of a standard deviation which is just statistically a rarity and now we're finally coming back into it. So a lot of people like to use this as playing it back to the moving average or you can play this downside Capital Depend like there's so many ways to look at this.

But my major point to all of you is yeah, we've been ripping and now we're showing signs of turning back over. Does that mean that we're going to plummet from here? I Have absolutely no clue. Does that mean that we're we're only going to fall a little bit? Yeah, maybe. Does that mean that maybe we bought them today and continue to rip Also possible.

So with it, it's one thing to do technicals which are inherently kind of looking in the past because you have to see how things have played out and it's not like we all use it as maybe giving us indications of high likelihood, low likelihood of what's about to happen. But remember, none of it's a guarantee not only based on what Dronepal said yesterday and most likely what he's going to reiterate and once again Echo today, but also based on technicals. Yeah. I've I've been very public about this I Think it's time for a market pullback I Think the cart's been put in front of the horse I think the rocket engines are running a bit too hot I think fundamentally, we're overvalued and I get it.

If you look at a lot of this mainstream media they're talking about, this is the start of the biggest bull market ever. Dude. whatever. like go, go bet on it and we'll see how it plan like plays out for you in my opinion.

I'm not calling for doomsday I do think there's a legitimate pullback I don't think it's going to be anything like I Uh, historic. but I do think there's going to be a real pullback here and that's what I'm looking to play in the short to medium term. It's honestly that simple. So as of now to kind of get us ready for today.

but then also a little bit of a recap on what really played out yesterday. Uh, stock futures are lower after a three day losing streak. So yeah, we are coming down a little bit. But don't forget before that we were on a massive Ripper I Mean really from March But you could argue starting in October the market has just been making higher highs higher lows.

The Bulls have been in control for a handful of months at this point and will this pullback switch that narrative? Well, for that to happen, we would have to break the recent lows. We would also have to pop back up and make a lower high. So if that is true and it might be, it's just going to take a bit of time for that to actually be realized. In terms of price action, treasury yields rise as investors can consider interest rate Outlook Will that make sense Because we know the FED is very much going to raise rates probably two more times this calendar year.

and as much as the Market's acting like the FED is bluffing they, they've not really been showing any signs of any of their statements being Bluffs We've seen this time and time again. over the past year and a half. There's been multiple times where both the equity market and the bond market is showing signs that they do not believe the Fed. and yet every single time the FED has proven itself to not be bluffing.

I Don't think that this will change this time at all at all at all at all. Pal defies critics and makes case for why rates must rise Fed Chair gives first day of semi-annual testimony to Congress process of getting inflation down to two percent has a long way to go, so they picked a pretty snarling picture of him which I thought was interesting Bloomberg doing them a little bit dirty there, but hey, whatever I didn't think he was like that. Particularly angry that Chad would like to make one thing clear: the Federal Reserve is not done hiking interest rates I Believe them a lot of the times recently, especially the Equity Market the Bond market not believing them. but I think it's silly to call the feds Bluff There's a very important reason we have the saying don't fight the Fed And it's probably because when you fight the Fed, you commonly end up losing money.

Seeking to clear up confusion about policy and play down the significance of last week's break in its 15-month credit tightening campaign, the Fed Chair suggested officials were on course for two more rape increases this year, and once again, it's not just him. We saw the SCP. We saw the summary of economic projection. We saw how most of the voting members did agree were going to get two more rate hikes probably at least 50 bips, but probably 25 each and then some Fed members I think three or four of them actually voted for more than that this calendar year.

The process of getting inflation down to two percent has a long way to go. Yeah, we're more than two and a half X that right now. so they're going to continue to fight it. That's what's going on.

That's what was stated yesterday when he was testifying in front of the house. and I guarantee you that's what's going to be reiterated today when he's testifying in front of the Senate pal expects more Fed rate hikes ahead as inflation fight has a long way to go. this once again, just to really drive the point home I Believe Wednesday Last Wednesday the Fomc meeting the Federal Open Market Committee meeting that is going to be the high water point I streamed it. You saw it.

You saw me calling it out. You saw how pretty much when we got the results on. Wednesday right here. Yeah, granted I was off by a day I'm surprised that there was this blow off top on Thursday I was talking about Hey I Wouldn't be surprised if this was the high water mark.

So was I perfect? Absolutely not. If your goal in training is to be perfect, this is not the game for you. It appears as if I was off by a day I Very much viewed this period as the high water mark for this current perch because of what was said on Wednesday What was said on Wednesday Well, basically it was a hawkish surprise. Everyone and their Grandma expected the SCP to only be showing signs of one more 25 Bips rate hike, but the fact that most of the voting members came in as thinking hey, we're gonna have two more of these I think this is going to be very reminiscent of what happened in January on Wednesday the 5th and this was the time that in the meeting minutes for the December meeting, they talked about switching from quantitative easing to quantitative tightening and it basically ended up being the high water mark and we ended up selling down I Think that's what we have going on here I'm putting my money where my mouth is obviously I explained my position to you I have a decent amount of puts at least relative to my own account size.

but I think right now the once again the market is trying to call the Fed's bluff. but the issue when you're trying to call someone's Bluff is if they're not bluffing, they're not gonna back down. So basically what happened with Pal and the house yesterday I believe will be happening once again with Pal and the Senate today and as things play out I think things are going to get a little bit sticky. We have student loan repayments going to restart in October so that's less money in the economy.

We have a lot of companies that have raised their guidance and I just don't see how they're going to be able to hit their numbers in Q3 and Q4 this year the second half of this year. I think there's going to be some pain and I don't want to say that as like a doomsday type of a thing because if anything, I'm looking at as an interesting opportunity to invest myself. I'm kind of wanting that to come because that means I get to buy some of my favorite equities and increase my investments in my favorite companies. So I'm looking for this opportunity to come around to deploy some of my extra cash to buy things when they're cheap.

I'm actually looking forward to it because I think it'll be exactly that a money making opportunity now in the short term. We're currently at a 75 chance. Uh, for another 25 bips rate hike in the July meaning uh, July 26th. be more specific so just remember 74.4 because we're going to examine how that changes throughout the day as Pal is speaking.

On top of that, I Just want to let you know that starts at 10 A.M But after that, Barkin will be speaking at 4 30 ET today, so another Fed member speaking right after the market closes and then Bullard's going to be speaking tomorrow and also tomorrow we get the PMI number and that comes out an hour before the Market opens and also Master will be speaking. So between the Market opening today and then closing tomorrow, we have various Fed members speaking and we also have a couple economic reports so just want you to know all about that. Earlier this morning, about an hour ago, Bank of England Surprises with a 50 basis point rate hike to tackle persistent inflation. Is it really that surprising? When just yesterday their CPI came in at 8.7 women when they were expecting 8.4 it was high.

It was Hot. It Was high. It Was Hot. Obviously, when your inflation is still rip roaring your central bank which is the Boe the Bank of England, they need to combat it.

So I Don't think anyone should actually be that surprised by the fact that they're fighting it this aggressively because they're Way Off the Mark where they should be. So anyway, the Bank of England the equivalent of our Central Bank this is the their Central Bank. It's called the Bank of England Uh, raising their rates which I don't think should be a surprise to anyone. So that came out around 7 A.M I Guess two hours ago.

Uh, other big news from yesterday related to Bitcoin and I'm talking about it now because we are still continuing: Bitcoin Above 30 000 Ethereum above 1900 we see Crypto Rip roaring. Actually, you know what's really ripping right now? Freaking Pepe somehow coming back to life I don't understand how look at Pepe look at this rip and Pepe just an absolute meme. but I mean still hilarious to watch Uh I still have mine I actually forgot I have mine and now I am back in the green on it. so I'm kind of stoked.

Would love to see Pepe break above 20 and then maybe it gets even more exciting from there. but Pepe Also, ripping just kind of generally going with the overall world of crypto. If you're wondering why crypto's ripping it's because of BlackRock BlackRock Filing for a spot Bitcoin ETF Historically they filed for 575 ETFs they've only not been approved by on one and that one that they weren't approved on. they got approved on later so they don't really miss.

So a lot of people are just kind of thinking that maybe either the SEC The Cftc Regulators in general gave BlackRock the kind of like nudge nudge wink wink. If you file now, we're going to approve it type of a deal. But here's what Bloomberg has to say on the matter. Huge Road of confidence when you look at BlackRock and its ability to try to do this after dozens of companies have come forward and tried to create a Bitcoin ETF with no avail From the SEC and an approval for the process, we know Grayscale has sued in this regard trying to get their conversion of Gbtc into an ETF.

So what's different when it comes to Blackrock? One thing is a surveillance sharing agreement when it comes to NASDAQ and the ability to really monitor what's going on with this ETF in real time. Another thing that is really interesting is the custodians themselves, because not only do you have Bank of New York Mellon that you're looking at as one of the custodians here when you think about the cash Holdings but Coinbase as well when it comes to the Bitcoin Holdings. So you have another vote of confidence not just in Bitcoin but in Coinbase also Matt Really, just days after you saw the SEC Sue Coinbase for another matter when it comes to the crypto world and the listing of certain assets, so this would be large for Bitcoin Given how many people are on the sidelines, that would want a spot Bitcoin ETF to gain exposure with the confidence of the likes of Bny Mellon and BlackRock behind it, Will the SEC have more faith in a giant like BlackRock When you look at what Bloomberg intelligence is estimating, they expect kind of a 50 50 chance of approval by the end of the year and even more so when you think Beyond this year alone and then what would the implications for price prices actually be Shinoli should we see this happen? Which of course is no guarantee. Yeah, no guarantee at all.

Given the Stan's ethics, we've had so far when it comes to Bitcoin ETFs But again, BlackRock is another game in town. So do they change the equation here? With how many advisor assets are on the sidelines here, you would imagine that it could really encourage a lot more people to get in with a trusted really retirement provider and ETF provider here like BlackRock There's a sense that it will encourage more people to come in, but with the uncertainty, you don't see that massive price movement right now and again. we're still talking about prettier. We're not talking about all these other types of crypto assets that are still out there that are drawing more scrutiny from the SEC of course, I know I'm sure you'll talk about it a lot.

There's Ether that there's a large question around as well when the SEC will handle how they treat ether and Bitcoin as assets relative to a lot of the other things we're seeing out there. Well, time will tell. I'm sure it'll be big news if they're approved or denied. In any sense, I wouldn't hold my breath on it a lot of these times.

like they technically I think have up to 250 days. Um, but most of the time they respond within like 45. So it's not like we're expecting every answer from the SEC like now. Um, so I wouldn't hold my breath on it, but eventually it'll come out and I view it as high risk.

High reward if they're approved I'm looking for crypto rip if they are not approved I think the market might view it as well. if Blackrock's not a proof, who will ever get approved and I would expect it to actually take a sizable hit. So um, high risk High Reward for sure. Short bets on U.S Stocks hit one trillion most since April 2022.

you heard that right right now across the entire Market the shorts are not playing around. Granted, as you're about to find out, they're currently down quite a bit of money. but the money that they're betting that this is not a realistic pump is extraordinary. Wagers have paper losses of about 101 billion.

That's with a B 101 billion in 2023 alone. Wall Street Split on Soxpath amid concern over Fed policy. It's just staggering numbers. Short sellers are ramping up beds against U.S stocks even as paper losses on their position surpass a hundred billion.

Imagine having that much money and then still betting more and more. This isn't enough pain. we're not throwing in the towel yet. Total: U.S Short interest or the amount Traders have spent betting against U.S Equities exceeded one trillion this month.

As the S P 500 Index extended its advance I said trillion. As in with a T one trillion, the tally reached the highest since April of 2022, before retreating slightly. with stocks down for a third straight day. The contrarian bet signaled that some Traders have concluded the S P 500 roughly 14 rally in 2023 will run out of steam, and they're enduring steep losses as they wait for the market to turn in their favor.

On paper, the positions are down 101 billion this year. So my question to all of you is obviously in terms of big money managers, there's sizable bets betting against the market the Market's already ripped quite a bit recently, and also, even if you rewind from October all the way up until now, there's been a big push to the upside. So my question to you is pretty simple: Is it going to continue? Are you aligning with the Bears here thinking that maybe the peak is in and we're going to roll back over because inflation is still pretty high and the FED is still fighting what's going on on in the economy? The economy is simply too hot, Or are you thinking that the Bears are gonna just get absolutely slaughtered here and the Market's gonna continue and continue and continue. And I'm not really asking you in terms of the short term of what's Happening like this day, this week, or even this month.

I'm saying pretty much from now until the end of the year, what do you think's going on? Are you feeling a bit more bullish? Are you feeling a bit more bearish? I would love to get your thoughts and on that particular note, just because I Want you guys to know about seasonality and everything before you give me your answer. Well, this is what's going on for today for today: Thursday June the 22nd. Looking at the past two and a half decades worth of data, the Bulls have won this day 44 of the time with the product factor of 0.75 Which means that the seasonality of this day based on buying at open selling it close of the Futures Market the S P 500 Futures Contract the Bears are favorite. That's not a guarantee though, it just shows that the market today is most likely going to be running into some headwinds.

I was actually already bearish on today for other reasons namely pal and inflation and the Fed and monetary policy and student loan payments restarting and the fact that we've already run too much. But this is just kind of another piece of information. another data point that bolsters my confidence in the short to medium turn thinking that things are going to be a little bit more bearish than they are bullish. But once again, none of this is a guarantee because on any short term, if you're talking about day trading or an individual day in general, a lot of Randomness can play out.

So I I wanted to share this with you that yes, the Bears are technically favored today viewing this day over the past 25 years, but obviously it is no guarantee. Uh, I Also want to bring I don't know I Just saw this and I thought it was kind of interesting. Diamond prices have fallen 18 from their Peak and analysts say there's still more room to plunge. So the world of diamonds are kind of interesting because it's one of the last true monopolies still in this world.

The entire Diamond industry is essentially controlled by the De Beers family, and they just manipulate the prices upward and downward. So I guess they must have something going on here. But anyway, diamond prices are down 18 from their all-time highs in February of 2022 and our lower 6.5 year to date. and Market Watchers predict their value will dive even further.

Diamonds alongside other Julie saw elevated presses during The Rona period which culminated in a peak early last year. But I guess we're coming down now if you ask me. in my opinion. Um, I think there's absolutely zero reason I cannot come up with one reason why anyone would ever get a mined Diamond when we now have lab grown diamonds.

I I Like I Don't get it. If the whole Diamond industry um I know that there is ones that have a historic value and like whatever that's I think more of a collectible. But in terms of just going out and buying a diamond right now, a mine diamond opposed to a lab grown Diamond I I Can't wrap my head around it. They are chemically the exact same thing just one's made in the lab and one is mind and typically the circumstances in which they are extracted from the earth like the the people who end up pulling that off in the crews and the areas, not good.

Honestly, you could argue that it's uh, like the opposite of a humanitarian effort. So when I look at the fact that we can grow them and it's chemically the exact same thing and lives weren't lost doing it. I I Don't understand why anyone at this point in time would be buying a mine diamond just. I I Just don't get it.

especially when you consider the cost. It makes absolutely no sense to me. You can get chemically the exact same thing for far cheaper. So when I see the fact that diamond prices are falling, yeah, it kind of.

It kind of adds up. Um, girls don't want fake diamonds. but we're not talking about fake diamonds. We're talking about real diamonds.

They're still like it's chemist. You would not be able to tell the difference because they're both. Diamond It's just one extra is extracted from the earth and the other one was made in a lab. But that doesn't make it fake.

It is literally the exact same thing. Um, lab-grown diamonds have lesser value than natural diamonds. Also, synthetic. Market is dumping.

Well, the synthetic That makes sense. Um, yeah. I Just said that they have a lesser value because they can be made. It's a classic supply and demand that.

I Don't think that's shocking to anyone. Um, but it seems. so if you can make something in a lab and then you could also find it in the Earth, why would you just go pay more for the one that's found in the earth when it's the exact like we're not talking about what's at Masonite or cubic zirconium or anything that like maybe on the surface level looks the same, but it's not actually the same thing. A lab-grown diamond is a mine diamond.

They're they're the same. It's just like their origination. Uh, their origin point is different. Um, so I I just don't I don't get it whatsoever.

But uh, just wanted to share that. I Want to talk about Zuckerberg I Want to talk about the Titanic thing? Uh, that's actually getting absolutely crazy. So we have a couple other things to get into before the belt goes. Ding ding ding ding.

Let's see if I can rip through it. Uh, three is a tragic number. Three losing days in a row. more to come.

Jerome Powell The chairman of the FED will be speaking with the Senate at 10 A.M Big day for India U.S Relations: The Indian Uh, the Indian PM India's prime minister recently speaking with us speaking with Biden. So there's going to be some political updates there. Bed bath. Bygone.

bed bath. Basically just bankruptcy. Uh, the bye-bye baby. probably gonna be spun off.

Google takes on Microsoft Um, this one like this: I Don't know if it's really gonna have much of an impact on either the stocks, so we probably don't have to worry about it too too much. So on that note, guess what? Dignity? Ding ding ding. The casino is open. Let's ride.

Oh I forgot I have a position open? Uh oh no, my Weeble's not open Where's My Money uh-oh uh oh Huge problems. Uh so as you guys know, I yolo'd a bunch of Tesla puts oh no no no no no no no no no no no no no no no no no no no no no no no no no no no no no no Oh here we go here. We go here. We go here we go.

Your boy's up. Your boy is up 21k up 184 percent. uh, crushing it. So I had 42 of these bad mama jamas I sold a third of them yesterday just because like it was a dumb trade and then I decided to swing obviously two-thirds of them overnight I have 30 left currently up 22k currently up 191 percent up a hundred percent today I got in at 389.

that was my average I did multiple buys and they're currently trading at 11. So um, 21. which means where the should I get out I needed I wanted to get out I think at 2 48 was my first Target Tesla Tesla Tesla Tesla yeah I was watching this one 247 excuse me 247 and some change was my first Target um my plan here. well unfortunately it's bouncing on me which is super not cool.

There is an upside Gap fell to 257.78 obviously I don't want that to happen I need to get out of these today because they expire tomorrow. My target I was watching this low 247.29 I would like to dump half of them there I would like to dump at least a third of them there. either 10 of my 30 or 15 of my 30. this is my first.

Target um obviously things did not go my way in the first minute. but I'm like I said I try to not make any crazy decisions right out of the gate I try to like just see how the Market opens up the first whatever 10, 15, 20 minutes type of a deal. um like I said I even this is my target to 247 and some change. So basically if it breaks 240 eight, that's what.

I'm going to start throwing in some orders to get out because I know I have to get out today I would rather be out in the first half of the day rather than the second half of the day. so I have my levels I know what I'm like I have a plan I don't know if it's a good plan, but I at least have a plan and I'm hoping that it obviously goes in my favor. Uh, but regardless. Oh, the cues are popping right now.

Never good when it comes out of the gate and like that, uh, that's a little bit of a brutal one. Where are we at? How much is this? They're already dropping a lot that went from 22 down to 13. that's how volatile this stuff is. But we've also popped four dollars.

Five dollars like it's absolutely nothing. So this is the tough part. I Know I'm not going to lose money on this trade. Obviously like my stop loss is even above where I've entered.

So like I'm not losing money I'm making money on this. The question is, how much money am I gonna make? Um, and it might take a little bit of luck here just because the opening volatility is going to be a little bit nuts. but those contracts I saw them trading at 10, they're down to 882 where I think I saw them trading at 11. they're at 8 50 right now.

So the volatility is crazy I mean we quickly vomited two dollars. Then from that point we after the vomit of two dollars, we rip six dollars. Like just massive, massive volatility. Um, so this is where it becomes a little bit more of an art than a science just on this exit here, because plus or minus, five minutes could be for me, a swing of a couple thousand dollars.

So I'm looking for A smack here. Obviously we have some buyers stepping in. I'm watching this by I'm watching the queues. but I'm just attempting to stick to my rule of waiting those first 10 20 30 minutes because it tends to benefit me over the long run.

I'm not saying that waiting those 10 20 30 minutes benefits me on every single trade because that's simply not true. But if I look at a grouping of Trades it seems like a little bit more patience, especially when things are trending in your favor. I mean Tesla's gapping down. so I'm I know the money I know there's big swings I'm trying to keep that out I'm trying to trade more like a tactician I'm trying to wait for my levels I'm respecting my risks I'm attempting to go for my reward.

Uh, just I have my plan and I'm attempting to stick to it and I just hope that is a good plan. Um, two upside Gap fills on the spot. Yeah, there's also three or four downside Gap fills on the Spy. So just to talk about the Spy levels very quickly.

Uh, actually, I should probably set this at alert man I Very much hope that we don't have to see that 256 would be a pain in the ass. Um, Anyway, the Spy has an upside Gap film at 438.97 and has another one at yesterday's low of 434.33 So the Spy has an upside Gap fill actually I Think the Q's do too. No, the cues do not. The cues are popping up a little bit today.

so we see the Futures Market breaking below this key level of 4400 and we're testing the low of Thursday June the 15th at 4 393.75 actually bouncing off that essentially perfectly. Um, so I'm seeing some strength in the tech sector. The cues are in the bottom right of your screen here. I'll move the cues over here.

um I don't know what's pushing the cues up right now? Well, apparently app Apple's helping Tesla's helping Nvidia Coming back down Microsoft is looking decent at Open Amazon's looking decent, not open. Meta's down a little bit Google Okay, okay, okay, uh. the cues are showing some strength the the Spy No clear Direction Lots of chop. This is actually an example.

Like, if you look at the Spy one two, three, four, five, six, seven bars right now, we're developing the seventh Minute bar. All it is Chop down, Chop up, chop down, chop up. That's honestly the most simplistic reasoning I could give you of why I Don't like to trade right out of the gate. It's just because there's so much chop.

I I Don't want to get chopped up and sometimes having that patience. Well it Trends against you and you lose money, but then sometimes it works for you. So I I Just there's so much volatility at Open I Have to admit, I'm not liking the Q strength over here, but I'm looking at Tesla testing its moving average right here at 253. Uh, obviously I would love to see another evaluation of 250.

let's see. Um, one of the recent announcements related to Tesla is that Morgan Stanley downgraded it from overweight to neutral after the recent rip with a price target of 250. The way I see this is Tesla has been on a huge rip. Huge monstrous rip not long ago at 152 ripped as high as 277..

it's been one red day and a little bit of a gap down. I Wouldn't be surprised I'm kind of looking at this Gap field of 235. I'm in no way saying I'm expecting 235 to be hit today. It might be hit today, but that would involve the cues and the Spy having to most likely have some sort of like sizable sell-off Um, so for me I guess I'm starting to watch this high that was just put in and I'm praying that we just start to fall over from here.

But as you can see extraordinary volatility moving multiple dollars like, like it's absolutely nothing in this one minute bar. We opened at 250 27 and uh, the high was 253.59 as we moved more than three dollars in one minute, that's serious volatility. Three dollars like, it's absolutely nothing. And based on my options right now and the volatility and everything, three dollars is Huge.

I mean it's probably thousands of dollars. So um, yeah, it's a little bit of luck. I Mean when it comes to the world of trading, uh Lux involved for sure this entire play is lucky to me. the Tesla position I'm in right now is a play that I got into a bit too early I didn't respect my risk I continue to hold and then it just fortunately broke in my favor.

Um, this Tesla trade. Yeah, it seems as if it's going to make me money. How much is it up right now? Um, it's currently up 14k. It seems like it's gonna make me money and it's like 14k is serious money to me.

like I Love that I'm making 14k. but it's also. this is a Luck play like Tesla If it comes to the world of trading and you could either be skillful or lucky, it's definitely better to be lucky than skillful In this world. there's a large aspect of luck without a doubt.

Netflix coming down a little bit Shopify coming down a little bit IEP coming down I need this below like 25 IEP I have IEP puts as well. that's why I'm watching it I Re-entered IEP Uh I need it? Look at. we have this shelf right here in the high 26. Fixes: Bounce, bounce bounce I'm looking for the re-test of the low 26s on IEP Come on Tesla Breakdown Breakdown Breakdown Breakdown: You know what could get all of our uh heart rates pumping? We'll go to the one second chart.

uh oh uh oh oh SpaghettiOs What's our high 254. the one second the old one second Tesla chart. uh does anyone know why in the oh you guys can't see it right now? Does anyone know why right now in trading view: I Don't have the re-centering button? wait where did it go? Why don't I have the button that like re-centers it and follows it for you adjust Total percentage log Does anyone know where this button is at all? Am I Like crazy there was a whole nother button here Auto There used to be an auto button right here they went Adj percentage log and then Auto Does anyone know how to get that auto button back? uh they changed it. Crime got lost in the Dark full of mine's missing too.

Double click the scale. What scale. Oh so that sets it up like where the numbers are. You're saying just double tap that go to the bottom of your chart.

I'm on the bottom of my chart. so I think oh, this one right here Auto Okay, you're saying not the bottom of the overall like of the individual chart. it looks like there's an A and an L. Interesting.

Interesting. all right. Am I about to get slaughtered. The cues are looking strong which is not going to be good for me.

Dude, this volatility is just so ridiculous. it's so disgustingly ridiculous. There we go. Come on, there's some selling and then there's some buying.

The volatility is somehow increasing. No way. Come on dude. Uh, what time is it 9 41 I guess it is 10 minutes I I Try to wait 15 but this is getting I I Must admit, it's definitely getting painful to wait this out is getting painful.

The longest 15 minutes of my life. It's just still going. What is? Tesla's Gap Fill level: 257.78 I Would highly prefer not waiting for that. Look at every single second.

It's just climbing. and it's because the cues are so strong. The cues are strong. uh IEP not really doing much Apple Come on, just break for me.

Break to the downside: Microsoft Strong and apple strong Microsoft and Apple both shown some strength. Not the most surprised that the cues are holding All right. We have enough here. All right.

Come on. I Would like what was my Target 247 and some change five. So look at how much. it's just ripping like it's nothing right there.

In one second you saw the rip from 256. It tagged 257. it popped a full dollar. What the is going on? That was like just one order ripping through liquidity.

A full dollar? That's this is just ridiculous. Absolutely ridiculous. Look at the second chart. It's just.

it's just building. building. building. Aggressive buying.

Aggressive aggressive buying. Wow. Fun to watch. Unfortunately, not going in my favor.

All right, it's almost 2. 45 I Can almost met and my own misery I Can almost end my own misery. What are we at? A minute I have 70 seconds left and then I could be out of this Purgatory. Damn Well, that's the casino for you.

That's the casino for you. What are we doing? I Think it's actually incredibly unhealthy to watch the one second chart because it makes you clearly emotional about it. But it is fun. Something about this one second chart? just.

it gives the people what they want. It gives the people what they want. Look at that every time it dips a little. just someone's buying.

I Mean you could see it like look at. we have big buyers. Every time it dips a little, someone's just smashing the. Buy Wow I wonder what's going on like.

um, it would be so interesting to like know who the players are in this. like who the buyers are, who the sellers are, like who's ripping off whose face, Where are we at? Okay 9 45 Let's see. let's see what the damage is. 10K Let's see.

let's see. Let's see. we need to stop this push. Give me, give me some sort of relief just so I can get the out of this.

Give me some sort of relief. Dude, it's just going wild. The queue's seriously strong over here Apple's really strong and we have Microsoft really strong I Mean there's very legitimate reason the cues the tech worlds up. I Mean we just see a lot of these running.

The question is, is it going to hold? Because remember uh Palace Speaking again today, did the Spy get its upside? Gap Phil I'm afraid to go to another chart, Beings: every apparent second of my life is The Swinging of a lot of money? Look at this. This is some of the craziest volatility we've seen on Tesla and we've watched Tesla a lot. look at that. Look at that.

just that non-stop buying and then someone crushing it, someone else buying it back. It feels like there's big players fighting with each other on this. There we go. A little bit of a change of tune perhaps? Nope.

Some bears smashed it and a bull is happy to buy that, just soaking up that liquidity like it's nothing crazy, crazy, crazy, crazy, crazy. uh, apple and Microsoft in the green? Uh, we have IEP I need that to drop another dollar? Nvidia 427 Netflix at 422 in the red, Uh, Tesla's still technically down hovering at 256. Uh, down? 1.35 though. but it's push beings.

Today it hit like 240 Or yeah, 249. Uh, so it's bounced quite a bit. Dude, the cues are non-stop running. It makes sense that some of the major players in the queues are also non-stop Run, look at the queues over here.

It's just not chilling. Holy look at those weird spikes, man. This is the second one we've seen that one buy order like ate up so much liquidity that it's a full dollar. Wow, that's crazy.

The second one we've seen where one flash a full Dollar in a mega cap stock. like you have to appreciate how much money is being thrown. that at that to pull that off. who is buying? Definitely some whales involved.

Uh, very quickly. Okay, we got that upside: Gap Villa 257.78 I'm kind of praying that they're just bouncing it off of that level to clean up the chart. Uh, it's it's. getting to the point of being a bit of a Hail Mary but we'll see how it goes.

Uh, the Spy also got its upside Gap fill to 4, 3, 4, 33 So both the Spy and Tesla hit its upside Gap fill uh. cues showing Incredible strength from basically minute one uh Apple showing Incredible strength Microsoft showing Incredible strength. Uh, I'm praying that things start to dip back around, but if if the cues are any indication here, I'm not seeing any slowdown quite yet. I'd feel better if the Spy came back below 434.

Really? 433.75 and I'd feel a bit better I'm praying that Tesla was just cleaning up the chart just quickly. Get that upside Gap they'll leave, no Gap and then just someone rips the rug. That's what I'm praying for. We'll see how it goes.

Uh, folks. as as painful as it is for you to watch this play out, it's exponentially more painful for me. I I Guarantee you that spy has not hit his Gap fill. Yes, it has.

It clearly has you. Just look at the low from yesterday and it hit it. What do you mean the Spy is not at its Gap fill. The low was four, three, four three three.

Oh it's off by Ascent Oh, that's dirty. Uh, my apologies, You are 100 right. It four, three, four, three two. It was off by one cent.

Oh uh. 100 My mistake. You are definitely right. You still green.

Yeah, I'm green. It's just how green am I gonna be on? This is the question. It's still up 10K it's still up 10K And this is the world of playing short-term options over leverage. Like every movement of a dollar up or down like is a large percentage.

Uh, I'm not gonna let myself go red on this. and also I kind of ensured that by yesterday when I locked in I locked in a third of my profit. Um and then I uh right now have a trailing stop loss that just hasn't been triggered yet. but it's getting freaking close.

So uh, I've refused to lose money on this play. It's just a question of how much money will I make and I was uh speaking uh with some of my no no God damn it I don't know why I'm watching this one second chart I think it's gonna uh look how just much it moves 256 up, 50 cents down, 60 cents all in a matter of 15 seconds. The queues may be showing some weakness I Want to see the cues retest? it's 10 EMA Uh, bounce off of that at 9.35 939 Dude, even this someone's trying to hit Tesla but there's too big of a buyer. It seems like every time there's like a dollar, a 75 cent pullback.

there's a whale stepping in just buying. Big look at that. just nailing the ask dude who has this kind of money and how deep are their pockets? Okay, the Spy I think finally got its upside Gap Fill got above 32, hit 33 and actually just made a new intraday. High Uh dude, this is getting everyone's heart to palpitate, everyone's heart to palpitate.

Maybe All right, if we crack 55, someone just dump it by a dollar maybe? oh, what's going on? It feels like just the Market's going crazy this morning. Dude who even knows at this point. All right, stay below 256. nope, just unending by.

look at the Spy look at the cues. All right. I think I'm about to put myself out of my misery pretty soon here. I Could always reevaluate if need be.

Holy. what is the volume on Tesla Today Tesla's already traded 31 million shares. We are 22 minutes into the day talking about a 250 dollar stock and it's traded 31 million million. The thing? I Can't get over.

Is this the cues? Uh uh. yesterday was 200 million in the day. Geez dude. I is this gonna be the rug this is I I Hope it's the trick because everyone sees Tesla ripping this morning and they're like, oh, buy the dip Tesla's been ripping I Hope this is just a brutal brutal trap I'm trying to hold strong through it.

but I must admit my own dude, look at that. How do you beat that? Me man, it just ripped a dollar in eight seconds. even more another giant spike out of nowhere. How the is that even beatable? dude.

There is people with serious serious money, serious money trying to get in on this Tesla dip and I'm just praying that they all get brutally rugged rugged rug it to the tune of 20 bucks. That's the third giant Spike we had and I'm almost wondering. hear me out. Maybe this is a little bit conspiratorial, but um, there's been like some known patterns of like pushes in three like that I wonder if those big spikes are actually people getting out because obviously someone's buying someone selling.

So I wonder if someone who's been long like they're almost using those Wicks as like exit like they're obviously unloading a position to someone. Like with it, with every single change in price someone is buying, someone is selling and I'm praying. Obviously I'm biased here because I want it to go down. but I'm almost wondering if those Wicks are a big player selling to someone at a premium.

They're like, okay, Tesla has been on its run and it's time to get out. But then that brings up the fair question of who's big enough to like absorb all that size. Obviously, if someone's selling, someone's buying, so someone's buying in in huge size, the Spy is looking strong, spies, apparently ripping off faces. It's funny, we were watching in the one second, but look at the one minute it looks like nothing.

How Wild is that we're watching the one second and if you look at the one second, it was absolutely insane. But then you drop it to the one minute and it actually arguably looks boring. Oh, the difference of time frames? Uh, the one second actually looked truly truly insane. And then since 9 45 we've done nothing the most.

like, uh, obviously that can show you like how using such short time frames like makes you antsy to do something like right there. In the one second, it felt like like we all felt it together. just huge rips to the upside. Downside: I Switch it to the one minute and it actually looks like how the past 10 minutes we've done nothing.

Oh man, you gotta love it. You gotta love the perspective. It's just actually boring on the one minute. Such an unhealthy way to trade.

But here we are. All right, let's get the breakdown. Let's get the breakdown. Let me set this up.

Now it's time to be a bit more realistic about this position. Set up some levels: ADD Alert Okay ADD Alert Okay, and then obviously we need some upside warning shots. We'll add an alert there as well. All right I have my alert set I think the morning open volatility.

Unfortunately, it didn't benefit me the morning opening turn. I mean the Spy ripping The queues Ripping Uh, not a benefit to me. Sometimes it is, sometimes it isn't. Um, today days like today are the days where I'm like dude, why do you have that rule to wait the first 10 15 minutes And yeah, no, it happens.

All of us and your rules aren't always going to keep you like completely solid. Arguably, today, it probably cost me money, but who knows. maybe I mean this whole trade has essentially been based on luck anyway. so maybe I'll get a bit more lucky and maybe we'll start to turn over.

but I just don't see how that's going to happen when the Spy has ripped a dollar 40 already. The cues has ripped three. The queues have ripped three dollars non-stop Tech buying this morning. Is there news that like I'm not privy to like what is currently going on I don't hang on, let me see if there's any.

Did I miss something? at least IEP is coming down All right. there we go. Tesla There we go. Tesla Back to the one second because it makes me feel something.

Makes me feel some sort of way. what am I missing? Are you guys seeing anything? Am I just not. Let's see what Benzinga Fed's Bowman's been speaking, but it started ripping at 9 30. Bowman was speaking at 10.

like these reports came out at 10. Feds Bowman says additional policy increases will be needed to reach sufficiently restrictive level and control inflation. Inflation still unacceptably high, despite drop in headline number, Fed's Bowman says monetary policy has had some effect on the economy, but core inflation has essentially plateaued since the Fall of 2022. Will look for inflation on a consistent downward path in deciding appropriate policy steps at coming meetings.

So that's from Bowman Kryptos holding Pepe looking good. For whatever reason we have Bitcoin looking good. we have Eth looking good dude I'm just flabbergasted dude I don't know why I keep doing this one second chart because it's actually just like kind of me up. if I'm being honest.

this is what I do for entertainment I'm putting my own Financial well-being behind Entertainment for you folks. All right, we're taking out 254.80 Come on, take it out. Let's get a little bit of a breakdown here. Break the low: Market Structure shift.

No No No no no no. Why are the buyers here? What are you doing? Why are there no. Snap it. snap snap it.

There we go. Okay Market Structure Shift on Tesla Let's see if it holds. Let's see if it holds. Uh, the level I really care about right now is 252.50 Uh, the level I very much care about is 250 250.

but apparently we're not even testing it. Apparently we're getting a fake out breakdown and then bouncing. Uh, 75 cents made. Actually, we're bouncing a full dollar.

Actually, we're bouncing a dollar fifty. What The dude? The amount of money just being traded bullishly bearishly on this is insane. Holy another weird pop. This is what the fourth one we've seen on Tesla where it's in excess of a dollar and it's just a huge Wick Is that a like should? I Just be like: is that a sign that the Bulls are actually like really stepping in.

It's either a really bullish sign or a really bearish sign. And obviously I'm praying that it's bearish. but it means something some large players are doing. Either people are like Longs are selling at a premium and they're pulling the rip cord or bulls are just using it to load up because they know something we don't and they're about to rip this thing the kingdom come.

But whatever it is, Tesla's about to have a move and I wish I could tell you the direction it was going to be a fake out. Market Shift to the downside on: Tesla We did break some support levels, but then we bounce right off of it. I hope I mean obviously I hope because I'm in the position If you're don't come for me for buy unbiased information. especially when I'm actively in the play like of course, uh, even subconsciously I'm looking for reasons for this to fall.

So like when I see things like the market structure shift I'm like, oh sweet, we're about to break down, but in an unbiased manner. I mean the Spy is ripping and holding. The cues are ripping and holding. There's various things that are not going my way yet.

Oh man, which one of you billionaires in here are buying up the cues? Dude, come on. just Slaughter it just Slaughter it. It's either bearish or bullish. Mad course.

uh I think I said very bearish or very bullish as in I don't think this is going to be uh, like a a simple neutral day is kind of my point. My point is is that we have high volatility as you can see and my estimation is that it's going to be even more volatile I Think we're gonna get this breakout after the Gap fill and rip or break down if things turn in a big sell-off. Uh, my whole point in saying that is that not not just bullish or bearish I mean very bullish or very bearish especially on the short time frame is what I'm attempting to articulate. Oh man, well, the cues might be having a bit of a trendline breakdown.

Uh Tesla coming back to that market structure Shift level Uh, but the the more important one? Like yes I would Define bounce right off of it again? Dude, someone is just having big buy orders. Things are moving quick today, folks. I Hope you had your eighth cup of coffee to keep up. Feels like we're really plugged into the Matrix Um, but the queue's potentially breaking down.

Once again, it's a short time frame call out. We haven't even retested the 10 EMA So I I don't think it's of the most importance, but um, on Tesla I will audibly have a sigh of relief if we can get below 250 250. Uh, about a dollar to 250 below where we are right now. Yeah, 253 bucks below where we are right now.

somewhere in there 275 and me, it just rips dude. So unhelpful to watch look at that it feels this insane on the one second. another weird pop. that's the fourth or fifth one we've seen I think that's the fifth weird pop we've seen on Tesla just those huge Wicks that are getting smacked.

But anyway, then you go to the one minute and you're like, oh, it's actually not that fun. Uh, it's in fact simply sitting at its exponential moving average at 256 so it popped going sideways. The Q is trying to make a recovery after its trend line breakdown. The Spy still holding went as low as 4 3360 popped all the way up to 435 at this point.

Definitively got that upside. Gap though I didn't play that myself today. But for those of you who played the Gapville, uh, congrats to you Microsoft Looking strong Apple looking strong metal looking strong Amazon looking strong Google looking strong Salesforce looking strong AMD not looking strong Nvidia looking strong Micron actually looking pretty strong Southwest showing a bit of weakness where we had on the day actually down. So Airlines maybe not the best Delta doing the opposite Uh, United doing the opposite too.

So for whatever reason Southwest is actually looking the weakest this morning. How is the dollar looking? The dollar did pop, but ever since 9 15, the Dollar's been coming down all right. Um, probably because the decisions from the bank of England What else do we have? What are some of the other big players Walmart Looking strong Target looking a little bit weak How's Budweiser looking Budweisers sold off popping back up, but it did Gap up pre-market up. Uh, 1.84 percent the cues are starting.

The cues might be breaking down here. the cues might be having a bit of a breakdown. What is this? Uh uh. let me not make not continuing its push.

Maybe a little bit of exhaustion, but let's watch. apple. apple was so strong. micro or apple coming down to Microsoft holding flat.

Uh, everything pulled back a little bit. Now it's kind of decision time. Things have popped in a general sense. Obviously things have popped and now we're going flat and everyone's kind of waiting.

Oh Jerome Powell should be speaking dude. I am way off today. Where the is you sorry I've just been so intent on watching Tesla Uh, what do we have? Executive increases and to maintain the rate at its current level? For the many of us who are concerned that further rate hikes could do more harm than good, it's welcome news. The challenge you face chair Powell is to ensure that workers continue to see higher wages while also continuing to rein in inflation.

In previous hearings, you've noted with justifiable Pride how careful management of the economy helped millions of workers return to the job market. It's those workers who stand to lose the most. If The Fed overdoes its rate hikes, loses sight of the Dual mandate and drives the unemployment rate back up. You've also noted Mr Chair increasing interest rates is not the only tool we have to fight inflation.

The FED is not the only one with the role to play. Congress Administration Everyone in government and corporate boardrooms must do their part. There's no reason we can't continue coming together to bring prices down. More policy makers are finally recognizing what those of us in Ohio have known for years that Outsourcing Outsourcing the production of pretty much everything May mean higher profits in the short term, but it won't lead to a resilient economy with a strong middle class in the long term.

We've taken steps to strengthen our supply chains in hiring and been bringing critical manufacturing back to the US The Chips act. the bipartisan infrastructure law. A number of things must continue that progress. Instead of lowering demand which is just economics textbook jargon for making people poorer, laying off workers, denying raises is that alluring demand? We can produce more.

We can build more. We can grow the economy from the middle out. It's also our first semi-annual report from the FED. Since the string of bank failures this spring, those failures were caused by the same issue at the heart of so many of our economic problems.

It's the Wall Street business model Executives layoff workers. They put short-term increases in quarterly profits and their own compensation above everything and everyone else. at Silicon Valley Bank At Signature Bank those in charge push their Banks to grow too big too fast. They made risky profit risky bets.

They got massive profits. Executives were paying themselves bonuses right up until the moment that at least one of these Banks crashed to most Americans That's not surprising. people have gotten all too used to Big Bankers treating the industry more like a game or maybe more precisely, an endless ATM for themselves. And while we continue to investigate those big things for example, the macro factors such as rising interest rates yesterday those days days for Bank executives are over here Paul I Look forward to hearing today how the FED will protect American workers in the fight against inflation and promote an economy with a strong growing middle class sir.

Scott Thank you thank you Chairman, uh chair pal. Thanks for joining us today such an important time! Your last appearance before this committee was about four months ago, just days before the collapse of two Banks And while we continue to investigate those bank failures, it's important to examine the macro factors such as rising interest rates that contributed to the bank failures and the current economic stresses American Families face every single day looking through the lens I Want to turn to you in your role as chairman of the Federal Reserve I Think legislation. constant scrutiny. Those are not the same actions taken by Michael Barr I Asked him twice when he was here before the committee if he would fire bad Bank supervisors for the supervisory neglect that contributed to the epic failures of Svb and Signature.

He would not commit to doing anything and I would ask you in your role as the active executive officer if you would take some action firing those responsible for missing what was glaringly obvious. Now to all of: America to the supervisors: Yeah! I Said from the beginning that this has been a failure in three parts: the Svb and Signature. It was a failure of the bank execs. The action that we took 21-2 yesterday reinforces Congress is willing to take the lead and hold Bank Executives accountable strong Spy was a supervisory failure and that requires the FED to hold folks accountable just like Congress did.

And third, the Biden inflationary economy that is I think I have to get out of Tesla really high and resulted in 10 rate increases from you all. The vice chair released his report on the failures. We heard directly from you that your role was to announce it to give briefed on it but not necessarily be to be involved in the work of it. So my question is as you watch Vice Chair Bar roll out I'm just watching this for one second you're very clear statements is that you will be supporting as well as working to implement Vice Chair Bar's recommendations.

Oh my God Other members of the board Governor Bowman has recently said that Mr Barr wrote a report on Silicon Valley Bank's failure that provided his conclusions and went on to state that the report should be used to help guide discussions among policy makers, not necessarily just to rush towards implementation of Vice Chair Bar's recommendations. I'd love to hear your thoughts on that path forward. If in fact, your job is a rubber stamp, the decisions of Feister Bar or is your responsibility to take into consideration the vice chair's recommendations and then chart a path that seems to be consistent with what is in the best interest of our nation and frankly of our financial institutions. I Do not believe that the Spy The market is just too strong today.

It doesn't even feel like it has anything to do with Tesla. It's just the spine the accuser ripping non-fucking small Capital We put on the