Foreign what's going on I swear you remember me now I Don't know Oh brother, oh brother, hello hello hello. Welcome back to the Mac Horrors Live show It is Tuesday June 6th and as always we're in for a barn burner type of a fun day. Well folks, we might have in the short term topped out in the market and all the explaining why I Think that. but before we get into my current positions, my trades my thoughts.

There are some important things we need to go over, such as the fact that Coinbase is now getting sued by the SEC that is the hot news of the morning. Coinbase sued by the SEC Very very similar to Binance being sued by the SEC yesterday, so we got to talk about that. Also, with reference to yesterday we should talk about Apple the Apple event, the Worldwide Developer Conference 23 Wwdc23 releasing a 3.5 thousand dollar AR VR headset. So I want to get into that, talk about it.

Get your thoughts and opinions. Then we're going to talk about some other breaking news that happened overnight and that relates to a damn. I Believe in the Ukraine that went and now wheat prices are shooting through the roof and then just a couple other things that we should be getting into such as seasonality support, resistance chart review, all that good jazz. So I hope you're ready.

Uh, good morning, good morning, good morning or after afternoon evening night. I Don't know what time it is for all of you, but I hope you're having a good one very quickly just before. I Forget the charting software I Use on my videos, my streams, my podcasts, all that stuff. it is called trading View.

It is pinned to the top of chat. it's in the description of the video I Think it's the best charting software honestly on the market right now. So if you want a free trial or a discount on depending on the plan that you sign up for, use the link pin to the top of chat in the description of the video. Once again, it is Tradingview.

That's the affiliate link there. So basically, if you're going to buy charting software anyway, Well, that kind of helps me out because it is an affiliate link. So shout out to Tradingview for sponsoring today's stream once again pinned to the top of chat in the description of the video. I Highly recommend you all check it out.

but also destroy the like button. destroy the sub button, destroy the the old friendship button I Don't know. Hit the buttons out there people I Hope everyone who's who's here already this morning who's up nice, bright and early I Just I Have a feeling about today yesterday. It felt if you ever have those weird days where you're you make money, but you're still kind of just like I Don't know I Ended up.

You guys saw it. We talked about it in the morning stream and in the afternoon stream. we had some good trades. I ended up.

locking in around 30 which was roughly 1.7 K which allegedly should be a good day up a decent percentage, up a decent amount of money. I mean that's a lot of money to me, why not? But something about it I just wasn't so happy with my execution like I I felt as if I wasn't really fully plugged into the Matrix yesterday. so I was a little down on myself and I I even explained the whole write-up on locals uh, of where my mindset was at with all of that. but something about I think today we're going to be presented with some pretty good opportunity not only in the overall Market such as the ETF spy and we're looking at the cues but we could talk a little bit about Apple a little bit about Tesla a little bit about Netflix But now we're being presented with opportunity not only on coinbus, but also Shopify Both coin and Shop are doing some interesting things in pre-market so it just feels like we're ideally getting a plethora of opportunity today.

and when I say opportunity I'm basically like saying solid risk to reward type of setups that hey, I think the reward is worth the risk so I want to share those with all of you so I hope you're ready for a day I hope you're ready for a Barren burner of a Tuesday uh and we're gonna get into it. so let me rip through all the major news of the day. Obviously, if you have any questions when the bell goes ding ding ding ding we're going to be watching market for the first 10 20, 30 minutes so that's the perfect time to ask your questions if you have questions about whatever charts options in general. Futures Algorithmic Trading AI type of stuff, but that's the time to do it.

So with all that being said, let's get ready to rock and Roll! Stock futures are little changed as Market Rally takes a breather and also Merck Sues Biden Administration over Medicare drug price negotiation so that doesn't seem as most the most interesting to us. But anyway, here's a look at the Futures Market Basically we kind of had a pump into a fresh high of recent relative high and now we've been kind of selling off in yesterday's action and then the overnight session. A lot of sideways. A lot of sideways.

But the thing I Want to point out is our exponential moving averages. obviously just seeing the average closing price of each bar I'm obviously now on the 15 minute chart. Uh, and then all when you're using exponential. that just means you're putting more weight on the recent bars than you are in the first batch of bars.

So that's the simple moving average where they all have the same weight. So basically a little bit of a recency bias obviously with exponential. But anyway I Do want to point out how clearly we were bullish red, white and blue and we just rip rip Rip But now, basically based on the overnight session, we did a little bit of a flippity doodah. I Mean yesterday we were selling off kind of hard, so the white went on top, but now we're actually flattening out to go the exact inverse.

So kind of interesting as you're about to see the seasonality of today. if you look at today, individually, buying it open, selling it close. Over the past two and a half decades, it does slightly favor the Bulls, But now looking at not only the daily chart set up, but also what's going on in shorter time frames such as the 30 minute and the 15 minute, it looks like the Bears are in a little bit of control. So we're seeing I feel more confident in my place where multiple things are lining up when I'm like, okay, there's a nice economic Catalyst Yes, the seasonally we are bullish and then on top of that, maybe the technicals and the price action are also favoring that.

Now today, we're in a little bit of um, I guess we have disagreeing things. Yeah, seasonality is pointing one way, but the current price action is pointing the other way. so maybe leading itself to some trappiness, but we'll talk about that more a little later on. So as of now, the Dow, the S P and the NASDAQ are all slightly red.

They're red, but nothing too crazy. Oil not able to hold that 72-73 Mark coming back down to 70 and some change and yields up ever so slightly so overnight. there was a little bit of a concerning development that is now sending the prices of wheat Sky High Ukraine Dam blast blamed on Russia tips War into new phase. So obviously this Circa what 22 was the news we talked about every single day.

and yeah, I know media is still covering it every single day, but it feels like this is the first piece of news where like, kind of. Once again, the whole Ukraine Russia conflict is throwing itself back onto the main media stage. and here's a look at the dam that uh, we're not completely sure on how it happened, but yeah, uh, obviously an increase in aggression which I don't think too many people are thrilled to be seeing uh I I Want to be careful of saying it's definitively Russia it's definitely not Russia I mean I know there's been a lot of weird, uh, accusations of false flag attacks and it goes one way. it goes the other way.

So I guess until we get confirmed information and statements out there I Want to be a little, uh, careful, um, placing blame, but we can say it directly is relating to wheat prices going rippity skippity. Duda honestly I thought this first image was like the craziest. Uh I Think they pan over here. Nope.

Is it at the very start? Look at that. look at all the water just ripping through the dim. Kind of a crazy thing. so that happened overnight.

Uh, maybe prompting some uncertainty in the overall. Market Maybe something to consider the destruction of a major Ukrainian Dan could have grave consequences. Here's what we know so far: Footage verified by NBC news showed water cascading over the damage Dam With evacuation efforts underway to protect thousands of people living in low-lying area Downstream The damage situated in the I don't know. Is it the Niper river? I Was trying to look up how to say it I Think it's the Niper River and holds back an enormous body of water was built in 1956 as part of the I mean dude.

all these words I'm just gonna butcher them. my apologies, we might as well scrip over them. You get the point. Happened over nice.

Uh, the area they were told to immediately evacuate it is obviously lives are legitimately on the line and with the increase of don't think of the wheat prices necessarily some sort of wheat Fields like just flooded. Yeah, they might have. but just remember more so of if the conflicts are going up. well.

Ukraine is a major wheat producing country so they're not going to be producing much wheat if the tensions in the conflict with Russia are perceived to be getting worse. so just something to consider. We jumps on: Dan Blast escalation of fighting in Ukrainian Dam Explosion looks like big escalation damage ammonia pipeline scene key to grain export deal So for all the weed traders in here, something something to consider. Someone said Gary is speaking, where is he speaking? tell me where Gary's speaking Is it on CNBC where's Gary speaking conflicts for a lot of our people.

So let's you know. yeah, cancer is trying to protect them. That is not the primary. This is all.

this is the other piece this morning. Coinbase: Getting sued by SEC release this morning. they were done uh to manipulate and there's also a sense over and over again that Finance in order to be able to look like it was a real exchange did wash trades constantly to make it so that they were bigger than anyone realized when they weren't. So there you go.

There's my background. Uh with that, let's get to the SEC chair. Gary Gensler Joins us this morning in a first on CNBC interview uh chair Gensler It's great to have you back. welcome.

It's good to be with you sir. We've had you on. This is the guy that no one likes from you. a sense of uh.

timing. when there would be more clarity regarding the space, it feels like now is that moment look I think there's been Clarity for years the investing public has the benefit of the U.S Securities laws. Crypto should be no different. And these platforms, these intermediaries uh, need to come into compliance and protect the investing public.

Which of the of the of the cases we're talking about, would you want to take them one by one? Which is more important than your view You're leading this interview. I'm going to follow you where you are. But let me just say this to the investing public: These trading platforms. They call themselves exchanges or co-mingling a number of functions which in traditional Finance We don't see the New York Stock Exchange also operating a hedge fund making markets Uh, and as we alleged in Binance having a Sister organization uh, flooding the platform with transactions called wash Trading and the lack of controls on the platforms uh is really, uh, a web of deception and conflicts uh, along with a control person Mr Zao trying to evade U.S law And given the timeline, we're talking about.

What do you say to viewers who wonder why enforcement has taken arguably at least several years so long? Okay, it takes time we do things by the book. That's what the American public would want us to do. We follow the facts and the law. and I couldn't be more proud of the investigative teams at the Uh.

SEC working together with colleagues in our various divisions of trading at markets at General Consulate's office. Five? Commissioners But it really, it's It's a lot of Uh, As a you know, a gumsho, uh, walking the beat uh, investigation? uh to build a case like what you've seen alleged in 136 page complaint uh, Mr Chairman: A lot of it is hard to understand. For instance, in the Binance complaint you say Mr chairman the and I need to know this. The Sec's finance complaint also seeks emergency relief like an acid freeze expedited Discovery and even the appointment of a receiver.

Are there more pleadings coming? Because if you do this, that's the end of Finance. Look, we have concerns and I Think of: the investing public should be aware of putting their hard work, hard-earned assets onto these platforms. But we have concerns when a platform like this puts themselves out to the public, is consciously trying to evade U.S law and customer funds. You didn't even know who was custody of them.

Was it custody here in the U.S on the U.S platform. Is it custody overseas or were some of your funds in crypto possibly moved to affiliates? There are a number of Affiliates named in this called Merit Peak and Sigma chain. uh uh. It's fundamentally a lack of controls, deception, conflicts and yes, we're going to do that which we can uh in front of the courts and make uh to the extent we can, the facts noun and the public protected.

But when I read your binance I cannot understand how anyone can assign a value to Crypto. It seems entirely predicated on the greater full Theory. Do you disagree? Look, we as an agency are meant to be. Merit Neutral gem.

There's a lot of question. there's 10 to 20 000 tokens actually in the coinbase. Uh, uh. complaint.

We note that they have through the coinbase wallet you can trade 16 000 different tokens. and there's a lot of debate as to the use cases and whether there's any there there. Look, we don't need more. Uh, digital currency.

We already have digital currency. It's called the US dollar. It's called the Euro. It's called the Yen.

They're all digital right now. We already have digital. Investments And you you have digital. You have entrepreneurs representing digital Investments on this program all day long.

And it's it's whether it's the big tech companies, the automobile companies, uh, you name it It's All Digital Right now, the investing world. So what is the real underlying value of these tokens? And that's why you need full, fair and truthful disclosures. And that's the regime. The Securities loss was set up.

When there's a group of entrepreneurs, there's entrepreneurs should be able to put their case in front of the investing public in what's called a filing. Dude, this is just good. That's kind of the Bedrock of what President Roosevelt in Congress worked on 90 years ago. Chair Gensler is David.

You know? can you characterize it all? what Fanny I would assume. There have been many conversations through time with Coinbase between the SEC and and Coinbase can you characterize Did you ever get close? Have you ever sort of gotten close to getting them to a seed to your wishes? I would assume. Obviously, given the complaint, they didn't quite get there. But can you give our viewers any sense as to what's happened to get to this point? Look, I'm not going to go into any one set of conversations between the agency and a company, but we've had discussions with literally dozens of crypto incumbents, including the ones that you just mentioned.

and what we find is this is a field that's built. The whole business model is built on non-compliance with the U.S Securities laws and we're asking them to come into compliance and they're going A bit of catches if you can. That's a sort of generalization and they're co-mingling various functions. The traditional Finance we don't allow I mean the public would be aghast if they thought the New York Stock Exchange was also running a hedge fund trading against them or allowing wash trading or lacked controls to protect against fraud and manipulation on the platform.

And so the conversations have been constructive, but it's also about them bringing a business model into compliance. We have had success in the last two weeks and entity filed as as a crypto entity, filed as a what's called a special purpose broker dealer and and got registered that way. We've had successes with tokens, but now it's about these crypto exchanges in the middle of the market where frankly, the public should really be careful. But all right Chair Councilor, if it's a business model built on non-compliance as you just said, if they do comply, do they no longer have a business look: I Think if there's a real value in these crypto tokens, then compliance will build trust and the business model might change.

It's the hard work of earning the investing Public's Trust The Innovations What we're doing at the SEC is pro-innovation because the capital markets really don't work that. that's that's the casino. Capitalism might work Wild West Capitalism might work for the people that are picking the pocket of the public. but I'm talking about really work for issuers, raising money, and investing.

And to do that you need integrity and rules of the road in the middle. Jim Against him in your binance Brief: U.S The following: Soldana Ada Cordon Matic Polygon Phil Falcon Adam Cosmos Hub Ethereum native token with the sandbox platform managed to Central land ago Algoran Cody Digital Infrastructure Payments Are these not completely concocted counterfeits? Counterfeit currencies counterfeit Securities Manufactured to enrich the dealers and not to be able to help anyone who purchased these. But let me help the investing public it. On these platforms, they often have hundreds of tokens.

Uh, Coinbase has about 250 on their Coinbase platform and 16 000 that you can trade on their wallet. Finance is measured in the hundreds as well and all we have to show is that one of them is a security and they should be properly registering and having Rule Books Against Fraud manipulation. As an exchange broker and the like, you asked a question Jim about individual tokens and we laid out for jobs. Uh I think it was a dozen uh tokens in each of these complaints.

It's for the public to decide what they want to invest in, but it it. But it's the law that it should be based on proper disclosure and without that proper disclosure, the public can't answer the question as to whether it's just as you say counterfeiting or it's a scam or something else. It's those disclosures that helps the public understand otherwise. Uh, you're just chasing after something and this is a field with a lot of hype and uh, hucksters and frosters I Know it's not your job to talk about what these are worth.

That's my job sir. They're worthless. Look, there's there's some s by some estimates 20 plus thousand tokens and I would just say uh. many of these will fail because many entrepreneurial projects fail.

But there's a second thing frankly is we have not seen over the centuries that economies are the public needs more than one way to move. Value people talk about. Well this is an innovation. did have fundamental Innovations about distributed Ledger technology and the like.

But do we collectively will an economy support more than the US dollar, the Euro or the yen? And so what we really have here are tokens that are speculative investment vehicles. and people are betting on a group of entrepreneurs in the middle. and they're reading websites. They're reading Twitter posts.

Uh, you know many of those tokens that you mentioned are hiring lawyers or already have lawyers. So there are some money. It belies logic that these are just you know out there from the thin air back to 46. uh.

tokens that are so-called decentralized and there's nobody in the middle. It's just Belize logic. And the American public understands this. There's a group of entrepreneurs their CEOs go to crypto conferences.

they hire lawyers. They can test what we say, but by and large these meet the test uh of an investment contractor or security. and then the public can decide whether there's any value there or whether it's thin air. As you say, the response from Binance at least has been in a sense and I'll read here.

this action will not stop us from continued robust collaboration with other policy makers around the globe. I Mean there'll be a a response that argues you're sacrificing some element of innovation through this enforcement. Uh, do you worry about that? Is there some sacrifice relative to what they can do? It's the opposite. Uh, through appropriate regulation of the Securities markets.

For 90 years we have helped this economy the U.S economy grow and prosper. Our Capital markets are 40 percent of the world's Capital markets, were only 23 percent of the world's economy and only four percent of the world's population. We punch above our weight class in the capital markets in part because of robust oversight of the markets. And it's for one reason.

It builds trust in the investing public. You become the destination of choice if you build trust. The crypto markets are undermining that trust. and I would say this: it undermines our overall Capital markets.

one sector, a hundred trillion dollar Capital markets and one sector is kind of running around like the Wild West. Catch us if you can. That undermines trust in the 100 trillion dollar Capital markets even if this is Uh in the U.S less than the truly Uh chair. Gensler What now? What next? Uh, are Do these two complaints represent your main move here legally? Uh or is there potentially more to come and just give up yourself? Yeah, I Think it's We've got.

One goal is protecting the investing public, ensuring that if you have enough access to Market but people trust, this is about both investors and issuers and in the crypto space is to bring them into compliance. Uh, uh. We brought a number of actions We Stand Ready to continue to work with the industry to have them come into compliance disaggregate these conflicted bundled operations. Uh, properly do the disclosures segregate segregate your customer funds from your own, Don't trade against your customers? Well, that type of stuff.

That's a lot of work here for the crypto field, but we stand ready to work to get them into compliance Jim again. So after I read what you have which is Bam CEO A Bam CEO B you obviously have inside people. What it tells me is it probably is co-mingling here. This is no different from SPF and if you have your money with Finance you should get it out right now.

look I I I've already read the articles in the last day, you know, drawing parallels to the to the we've also alleged uh, fraud and manipulation. uh at FTX and with regard to Sam Backman Free Uh, let me just say the business model of crypto intermediaries intermingles co-mingles funds trades against their customers. In this case in the Binance case, yes, we have alleged that sister organizations Sigma chain and Merit Peak Absolutely Wild we're we're being controlled by Mr Zach All right. I Wanted to fast forward through that because there are some other things we need to go over.

So uh, news from yesterday: Apple 3.5 000 AR VR headset Apple went up in anticipation by the time they started talking Apple got murked and dragged some of the market with it, but there was a lot of enthusiasm going into it yesterday. The other big news was the SEC is suing Binance and they obviously didn't stop there. SCC Supervisance and CEOs CZ for U.S Securities violations and they accuse them of very very very similar things of FTX not the exact same thing, but similar. Sec's regulatory now covers 115 billion of crypto after lawsuit against Binance and it looks like you have cardano Maddox polygon BNB a lot of individual cryptos uh, allegedly being defined as the security taking quite the hit.

And then this morning the shocking news that we just heard a little bit about SEC Sues Coinbase over exchange and staking programs. Stock drops 14 in pre-market if you look at it right now, it's down even more currently down 20 I'm gonna come to this Tingo thing. uh, just because I think there might be a trade there? I'm interested in trading. You should do whatever you think is appropriate.

but Hindenburg just came out with a hit piece on Tingo Uh, so go to Hindenburg's website if you want to read that as I Quickly rip through all this here. We'll come back to Sorkin and their talk on Coinbase. But here's the official filing as of June 6th. it came out this morning.

Uh, and United States District Court Southern District and this is the SEC versus Coinbase. Uh, Coinbase operates a training platform through which U.S customers Buy sell crypto so it's basically the whole Securities thing so we could come back there. This doesn't matter for now. this one does not matter for now in terms of Market events, nothing scheduled for today, there are still some earnings.

After the market closes, we have Dave and Busters and then tomorrow we're going to get Campbell's in GameStop Just want you to know about it in terms of seasonality. If you look at today over the past 25 years worth of data that I have uh, it is leaning bullish. I would say it was neutral and then started pushing bullish. so the seasonality of today is leaning bullish.

but I have to tell you as we're two minutes out from that Bell going dignity ding ding ding. It doesn't really feel that bullish. Here's an update from my intro. like my day trades yesterday, you could check that out if you're on the locals.

Community Five things to know before the Bell goes dingy ding ding ding today. Uh, back to neutral. Very strong opening and then by the time Apple started talking, people were like whoa, that's pretty expensive and then we sold off. Will that last? I Don't know.

Maybe a lot of people end up spending it spending the money to get it, but we don't know. SEC versus CZ and now also SEC versus coinbase GM's uh, pickup picked me up. Um, all right, we could talk about jam later and we also talked about the dam being destroyed in the Ukraine. Uh, so a couple things that we need to come back to.

But what I want to point out here is I'm looking for an opportunity basically to bet against everything you see on the screen. So t I o right now this is fresh published on June 6th Tingo group fake Farmers phones and financials the Nigerian Empire that isn't so the way we all kind of had that the whole Nigerian thing of like I'm a Nigerian prince They're now kind of accusing Tingo as being another fake company so we can look into this. but I just want you to know why this company is getting slaughtered right now. it's because of a Hindenburg research report.

Obviously we know why Coinbase is getting slaughtered. So today for me I am interested in Tio puts I am interested in coin puts I already have Nvidia puts I am looking for spy puts I'm also looking for potentially some cute puts Obviously I need to explain some of my risk reward management. but on that note, dignity, ding ding ding. The casino is open.

Best of luck to all. Play responsibly if not have fun. I'm trying to see what I could do. uh Tio is very very lightly traded.

There might not be a play on Tio just I'm looking at the options chain right now and it is a widespread. Very much a widespread. Uh, what's breaking down I just got another alert es is breaking down. we're kind of at yesterday's low.

that's where I wanted to enter. but I just don't like entering this early. All right, there's a lot to consider this morning. A lot A lot a lot June 16th They're trading at 30 by 35.

30 at 35 for the one dollar on Tio Uh, now they're trading way higher apparently. Uh uh bye dude. this is very illiquid. Very a liquid.

Very a liquid. dude. What the where is the stock at? all right? We'll give it a whirl. We'll give it a whirl.

What's that stock doing? June All right I got some Tio puts just to see if Hindenburg has the same power as normal. Um I know it's a little Chasey out of the gate, but if this thing vomits to a dollar, I'm just gonna get out on Tio I Just got in once again because of the whole Hindenburg situation. My position is Tio one dollar puts June 16th and my average price is 40 40 cents. Um, do I need to get into the Spy today I Just played this breakdown: I Do This is my trading plan I had a whole trading plan that I wanted to go over with you guys today.

June do I like June 16th. that's next week June 16th June 16th June 16th June 16th spy puts where do I want to go on the Spy 423 June 16th, 4, 23, 423 June 16th. They're trading at 277 right now. All right, where are we at? 20 23, 23.75 I Do want to be a little bit more patient with this perhaps? but I was looking for this breakdown.

All right. I'm gonna try to give it a second. Um so I really want to give it a second I want coin I want There's just so much to do this morning. All right.

How do I want to actually play this All right? Uh, we have to. We have spy Nvidia is going the way I need it to go coinbase I'm watching I'm basically watching I already have the Tio puts very small position. It's just like more of just seeing what happens with Hindenburg In this research report, we saw how things played out with IEP In the past we saw how a lot of things played out with Hindenburg the stocks that they're targeting in the past. um, kind of a Lotto Play that's not something that I would be like Oh I'm gonna bet like a huge huge amount.

uh no, not like that all. I bet a small amount I I just want to see how it plays out. Uh, but what do we have going on here? What alert is that? Nvidia may be finally giving me that breakdown I needed to I mean the lower the better. but if it stays below 388 I'll feel a bit more confident.

Uh so I'm watching Tio once again new Hindenburg situation there? Uh, all right, patience, patience, patience. I I Really wanted to play this spy breakdown of yesterday's low, but I'm also trying to wait those first 15 minutes so trying to be careful over there to say the least Tio is going up, but whatever I'll come back to that. Uh, the queues are getting a little bit smacked the cues. Potentially a nice breakdown.

Do I feel comfortable risk if I do play this to 346. All right, maybe it's time to get into the cues before the Spy QQQ options. Uh, gonna give myself a little bit of time on the cues I like 347. Do I want more time than that though? What is the week after 23.

All right, those are a little pricey. All right. trying to pick those up just got filled on some cue puts. uh and is it time for the Spy Is it time? Is it time? Is it time? Is it time? Is it time? Is it time? Options June 16th I'll explain everything I'm doing as soon as I have it all set up.

Wait: Which strike did I want there? which strike did I want 23 23. place order Okay, okay I think I did everything I wanted to do except I'm waiting for Coinbase. What are the levels I care about on Coinbase. One more thing and then I'll be ready to rock and explain everything.

Coinbase Coinbase. Coinbase. Coinbase. Oh Coinbase.

Coinbase. Coinbase. Coinbase. Coinbase.

How do we want to play this one on? Coin On Coin On Coin On Coin On Coin. Wow, that's not as liquid as I thought it would be. The the spreads are kind of far apart on Coinbase, even on the monthlies. This: Wow.

I Just thought Coinbase would be a bit more liquid. That's interesting. I mean some of these spreads are brutal. Like Brutal.

Brutal. huh? Coin: Would you guys vote 66 of you? were feeling pretty bad about coin? Hmm. Coin Oh coin. Okay, I think I got everything.

Uh, everything. Everything that I need. Okay So here's where we're at on the current situation. First, let me start with the Spy Here's my current plan: this fly.

uh, probably easiest to see there. So here are some of the things that I'm personally noticing with this run-up The Spar has been very strong. higher highs, higher lows. we get this blow off top.

Uh, we actually put in not only a high there, but then we push it again and then obviously it got smacked. I Was looking for the breakdown below yesterday's low, which happens to be at 426.37 It's currently trying at 4, 26, 24, 25. but I'm also noticing the volume going lower. A little bit of volume exhaustion and things like that are more apparent in equities I could show you an example such as Nvidia.

but basically it's as simple as this. I got in on this breakdown of the low: I Do wish it came a little bit later in the day. I Don't like when it's coming like right out of the gate. but anyway, that was the technical development I was looking for with my first Target being around 424 my next Target 423 Basically this dollar region is what I'm paying attention to and my risk is now this: I mean I could tell you specifically my risk, my break a break and hold above 429.62 I am pulling the rip cord so I do have spy puts I got into them today spy strike price 423 expiration date June 16th So I'm basically giving myself a week and a half.

a little bit over a week and a half I'm in at 275. They're currently trading at 266 265. if you're of the same mindset I am maybe this is a play you're interested in. maybe it's a play you don't care about at all I just wanted to I mean nothing I do is like oh, this is a signal you should be following me I'm just letting you know I like this: peak for higher high higher uh higher low higher high higher low lower high lower low Obviously we're not done with the day.

the day could completely invert and if it like I say if it goes above 429.62 I pulled the rip Court um I like the risk reward here. risking about three dollars for a reward with my first Target being about three. but then if it capitulates, obviously it's even better. So I like this, it's meant to be a swing trade.

obviously, if we vomit today, if we come all the way down to 423, yeah, I'll be taking my profits because like, if we get that kind of a return in one day, like why would I not want those profits. but I just want to let you know what the risk is, what my entry is blah blah blah in a very similar setup: I'm looking at the cues I see the cues pushing, pushing, pushing I see the volume coming down higher high, higher low. we re we just broke that low and on this one we also broke a trend line of pretty steep trend line. So same thing here.

my risk is 357.50 Let me add an alert there and I don't know if I did that on the Spy just to know when I need to cut. uh ADD alert at alert. okay, alert, add-in and both of those situations. Um, wait, did the alert not go here at alert on the cues? So well-defined Risk: I'm in around 354 I'm risking three dollars and fifty cents.

Uh, if it pushes all the way up there. Okay, it was a bad trade and I got faked out. This is what happens when you're doing mean reversion type of things. Um, I Am well aware that the seasonality of today does favor the bulls actually, but just kind of given all the recent push and this volume.

I'm like, okay, maybe we bucked the trend of seasonality, but then even if I'm wrong off by a day entry or not, I know that there's quite a bit of seasonal bearishness on Friday of this week and Monday of next week, especially as we're heading into that Fomc meeting. So that's why I'm giving myself all the way till June 16th on the queues of 3 47 I'm actually giving myself more time on those. so cues 347, June 23rd and I paid three dollars each. Uh, the other play was coinbase.

Coinbase isn't kind of obvious one. uh, I'm just into if there's Panic if there's fear, if this ends up getting sold off I want a piece of it? Um, not necessarily. I mean you could Define it as a technical breakdown because we did go below this recent low I'm kind of watching in the low 40s right here. Uh, this one not my biggest bet relative to the other ones just because like, the risk here isn't the nicest.

So like it's a larger wrist so I'm betting less. Uh, just in case I'm wrong I Don't want to obviously blow up my account, but um, if this thing gets and stays below this low from Thursday May 4th, 47.65 all feel particularly comfortable about it. Uh, coin June 16th strike price 40 I paid 250 in each. currently trading at a dollar 75.

In fact, all the trades I did you could get in for a better price than I did. uh the other one is Tio this is I I'm literally just paying playing off this Hindenburg uh Tingo group uh, fake Farmers Phones and financials the Nigerian Empire that isn't. Before you get into this play, you should read this. You should know what you're getting into.

You should know what they're being accused of. You should know Hindenburg's information on it. You should dive into it. You should dive into it.

and maybe after the Market opens. if things calm down a little bit, we could talk a little bit more. I Just want you know that Teo it's already 1.35 getting smacked at 550. Obviously the beautiful entry was right here on Thursday May 23rd.

You could could have got in at 508 you were risking 571 and now you wrote it all the way down to 1.35 The option chain isn't that built out on it, so on to I have June 16th one dollar just in case it ends up vomiting today. But I Want to be very clear here. this is a smaller bet just because it's a Hindenburg This isn't really like a technical play a price action play. This is a catalyst play I Don't know if it's going to vomit or not.

so like it's a a smaller bet relative to the other ones. So those were all kind of uh, what happened out of the gate? um I I Was kind of reviewing how things went yesterday and just not really the biggest fan of how some of the the day trade situation went out. Uh, really played out yesterday. So for me I was more interested in like what I saw potentially in the market for nice swing trades and what I saw in the Spy the queues.

Uh, still happy with what's going on with Nvidia I obviously prefer to come down lower. but I'm liking these breakdowns so coin and Teo C-o-i-n and Tio are more of news. Catalyst like I'm wondering if it's gonna prompt fear and if there's enough fear I could see a sell-off but those are going to be smaller bets because it's not a technical play. It's not a price action play, it's just how is the world going to react.

Now on the flip side: spy and cues I it's a swing play if it. if I have amazing profits today. Yeah, okay, of course I'm gonna take my money on it. Um, but really, it's meant to be a swing play I mean cues I'm talking uh June 23rd on the Spy I'm talking uh, the 16th.

It's meant to be a sing play I'm seeing the breakdown of the previous lows I'm seeing a topi formation. Uh, it might happen today. It might happen tomorrow. Well, it might not happen at all.

Uh, but I'm mentally prepared for this to be a more of a hold situation than like a very active in and out trade. I just feel like I do better on the swing trade So that's what happened this morning: I Entered spy puts I entered Q puts June 16th, June 23rd respectively I'm still in Nvidia I'm still in Target and I have some coin and Teo potential Catalyst Developments: Uh, coin, do we have coin over here? Let me just add this to the watch list. Nope. don't want that add to watch list, coin watching that and then this new one to uh, just the Hindenburg uh and we'll add that to the watch list as well.

So two catalysts and then two just chart developments I Like the risk reward of the situation. Um, like I said after kind of reviewing and I wrote this all up in locals just not happy with like I don't know my mindset when I knew I was getting into a day train and whatnot. So for me I was like okay, let's hang on, just take a little bit of a breather. go back to some of these smaller duration swing trades.

Uh, more than happy I mean I wanted to print for me as soon as possible Uh, but I'm just watching that breakdown from the previous lows and I have a well-established risk and for me, that's all it is. Well established risk, well established reward. and then you just sit there and wait to see which one plays out first. I Bought myself enough time to let this play out, avoiding any Randomness It still might be wrong, but you can't look at it as an individual trade.

You need to look at this. this whole methodology of a system of Trades of basically high quality risk reward setups. Basically, you want to take your accuracy for winning, multiply it by your expected gain, then you want to subtract, um, the other like 100 minus your accuracy. So the percentage of the time you lose, uh, multiplied out by your average loss, and as long as that number is positive, that equation results positive.

You have a positive expected value, so you're not going to ever want to go all in on one trade. You're never going to want to bet the farm on an individual trade if you do it. I mean I Wish you the best of luck, but it's a system a system of high quality setups, ideal reward and risk ratios. You want more reward than risk.

And really, when I say more, you're like, well, hang on. That's not really mathematically accurate. What do you mean by more? Well, it depends on your accuracy. You can still have a winning system with 10 accuracy.

You could also still have a losing system with 90 accuracy because you have to look at the size of your average return when you win in the size of your average losses as well. Um, so you have to look at both. You can't just look at accuracy, you have to look at size of winners and size of losers. All right, All right, All right, this is becoming a Baron burner.

A baron. What was that other one? The weird word not just bar and burner, but from the other guy on Tick Tock The fear. Are you living in fear? Oh I can't I hope that there's uh, new updates for us over there. Look at that surprise surprise.

As always, it does apparently pay to wait till 9 45. Um I know I kind of broke that rule but for me today, um I wasn't specifically focused on that because I'm not interested in really getting out today. Once again, if it happens, it happens and I'll let you know. But I this is in.

This is my intention to be a multi-day swing. so plus or minus, whatever. 50 cents a dollar. It's not going to much matter to me based on my current thesis for these trades, but we see this: five ounces a little.

We see the cues bouncing a little. Uh Apple Sold. Maybe trying to get a little bit of a recovery? We see Tio continuing to vomit, potentially making a fresh low in a couple seconds. Um I Want an alert at one dollar? An alert at one dollar? Tio About to tag a fresh low going going? The low of the day is a dollar twenty.

We're at a dollar Twenty Two just hit 21. So uh, 21. we just tied the low and this is the Hindenburg research we just tagged it. Is it going to vomit? I'm curious if we're going to vomit below.

Uh Tingo Group: The average 10-day volume is 11.25 million shares. The volume already today is 16 million. The average daily volume is 11.25 Milli and today it's already traded 16 milli wow, That cannot be good. That cannot be good.

Why coin pop? What are you talking about? It's down 17. That's not a pop flavito the the coloring of the Rhine uh Target What else do we have going on? Nvidia I Need to have an alert for myself right now I'm really risking 396 but I just want to alert a little bit earlier just for proper management so we have that on. Nvidia How's Netflix doing Would love for Netflix to keep ripping. At least it's holding 400 for me.

How's AMD doing? Amd's pushing Micron not really doing anything Intel back up to 30 up one percent on the day. How is oil doing Exon slightly down on the day here. let me switch this over so you guys can see what you're all chatting about. Exons CVX CVX Chevron Had a little bit of a pop, but red oxy.

same thing trying to pop, but still technically red on the day. Tesla How's Tesla Tesla down to 213 so not holding that breakout at 217. Getting a little bit smoke there? How's Shopify doing? Shopify I Liked its breakout on the daily chart I thought Shopify was looking nice and just so you know I currently have no position on Shopify but breaking out of its trend line got its downside. Gap though definitely something I'm interested in watching I'm not necessarily in love with the risk reward I feel like you either have to risk 58 or you have to risk 55 if you want a bit more leeway and then you have to ask yourself, what are the targets? Is it 64? Is it 65? So even though Shopify had good earnings ripped after that, then gave them back, put in a higher low.

Now getting a trendline breakout, there is what I would perceive to be bullishness in Shopify but I'm not sure I'm in love with the risk reward there so just I don't know something I'm watching something I'm paying attention to but looking kind of nice. How's Home Depot looking not doing anything uh Lowe's lows low uh also not doing anything UNH uh getting a little smacked Texas Roadhouse not really doing anything much today. Apple on The Daily looks like a another red day breaking below yesterday's low. uh, meta meta showing some strength looking good Microsoft maybe turning a little bit but still repping quite a bit of strength.

Here's Tesla on The Daily Rip rip rip Maybe finally a breather. Not the craziest time to fade it because once again, we know we have. Um, we, We know we have resistance at 217.70. you could either risk that or you could risk 221 and maybe you play it down to this trend line.

Maybe breaks the trend line? Maybe play it to 199. It's just after this kind of a rip. I Mean it went as high as 45 in 39 days, 26 trading days. Not the most insane thing.

And you have well-defined risk. And if you're wrong, it pushes that risk. Okay, you get out, you're in at 214. you're risking 221.

you're risking seven dollars. Um, yeah. obviously you want it to break below 211 which is a little close, but then from there you're kind of watching I don't know roughly this 204 205 area, then you're watching 200. Not the most insane thing to want it to come back and reevaluate this key level.

So I want to throw that out there? I Currently have no Tesla position, but maybe if I see a nice setup there I might be playing Tesla Actually I should probably put that on my watch list. Uh, so just want to throw that out there. Interesting opportunity. What else do we have? What else? What else? What else? What Mvis you guys are talking about.

Mvis Rip City I mean I'm not going to chase this if you're already in it. Congratulations! But if anything, I mean it doesn't look good at all. It pumped down pump dump pump. Really dumb.

Try to pump again. Dumb pumped again. dumb. Uh.

all. it's doing now is another larger pump from two all the way up to 570.. it did have good earnings anticipation into the earnings, then installed and now it's ripping a bit more. Um, it's for me.

I'm like I'm not gonna get into this and risk 370. That's a huge percentage like that. I'm just not going to take on that risk, but maybe fade it when it finally shows some weakness. If you're already in it.

Ride the trend, Ride the train, keep moving your trailing. Stop loss up. You know how to do it. Just ride the trend, the trend your friend.

And then if you think it starts to look topping, maybe take some some or all of your profits off the table. your goal is to ride the trend. So uh, I would in no way chase this now. but if you're already in it, great.

Write it. Write it. Write it. If you wanted to play this, I would wait for weakness to show and then obviously you're just risking the recent high and you're hoping that it breaks in your favor pretty rapidly.

Uh Teo almost had a dollar. The Teo play is somehow down. What? How am I down? I don't understand. All right I'm getting.

Uh, even though Tio has fallen way more, uh, apparently I'm still down on the play which is interesting. the life the life of Uh IV Crush um I didn't think he was gonna get crushed that bad Jesus Jesus Oh man. I Really thought I'd be up IV Crush Well, that's a a good reminder for everyone. Uh, just because in the world of options, you can be right and also still lose money.

you have to consider some of these other Greek values and in this case the IV uh, just apparently got decimated. There apparently got decimated. Geez. I Really thought that was gonna be a nice little nice little win in trade there.

but I I guess not. I Guess Freaking not. Bummer. Bummer.

Bummer. Bummer. Well, maybe if it continues to vomit below a dollar I might get lucky I'm not liking that. So um, if this somehow pumps in my favor I am going to get out.

uh, but obviously a dollar representing some pretty serious re uh, support Nvidia not liking that Netflix not really doing anything here I'll put coin back I'll put coin back. hey folks, if you haven't already. I would appreciate if you could help me out uh, by destroying the like button, just kill it Mark it. do whatever you need to.

uh, would love to get above 500 on YouTube and would love to hit 250 on Rumble So if you're watching on Rumble right now, if you're watching on YouTube right now, take a quick second out of your day and just hit the like button. It's free. It's easy. helps me out more than you would probably imagine because we are all apparently victims of the algorithm.

God, um, so we'll see. We'll see, We'll see if you guys can do it. Uh Nvidia yeah I had a little bit of a pop. The main thing I'm watching on Nvidia is remember uh I'm I'm happy with it because we got this trend line breakdown: I'm attempting to give myself more time I know just from looking at all my own trades I'm better at these swing trades.

Not really Uh My Success I don't know. sometimes I'm successful, sometimes I mess it up with the day trade. So I'm focusing on nice daily chart weekly chart larger time frame patterns where I have well-defined risk and an optimal reward ideally like multiples or higher than what I'm risking because then you know, like you're gonna lose some of these. Like if you're in here thinking you're gonna win every trade No, no, no.

I don't want to be the bearer of bad news, but you're not winning every trade. It's just. once again, it comes back to this system. Are you continually taking these optimal risk reward setups time and time again? If your risk gets hit, okay, pull the rip cord and move on to the next one.

take ideally the paper cut and just move on. Uh, uh, how can someone be down until you must have buy calls? No, it's IV Crush which is something that is very important to be informed about. Uh, if you look at like when it comes to options, it's not just the price of the underlying asset. You also have to take into consideration the time until expiration.

Obviously the less time, the less theoretical movement that's going to happen just because you have less time. and then also IV if the volatility of the underlying asset goes down inherently the premium is going to be less valuable. So it's not just if you look at to right now. and if you look at these puts it's not just the asset we're at, it's the time till expiration.

It's not just the price of the asset is the best way to say that it's time till expiration and also volatility are massively massively massively influential in the value of a premium. uh, coin dropped yesterday on the binance news with expectations. Coin will also get sued I believe it's a sell the rumored by the news BTC bouncing Also, maybe we'll see I mean Gensler seemed pretty pissed. uh this morning.

a lot of the times with by the rumors sell the news that's more of like an event thing like such as Apple with their new Apple Vision Pro uh but when you're getting into legal but like we don't have any idea like just to say someone's gonna get sued I mean that's a large swath of what could possibly happen I've never really and maybe I'm wrong for this I'm just saying I've never really personally thought of like legal proceedings as buy the room or sell the news unless you have like. unless the world's really of the exact same opinion of how like a legal proceeding will play out like who knows. like for coin, it very very very well might end up being one of these things that they win it. They're able to kind of just shake it off, shoulder and move on or who? I don't know.

This might lead to the end of coin I I don't know I I don't speak legally I'm not um, trying to give any form of advice on like what the legal proceedings mean. it's just something that's like very very much out of my wheelhouse. but uh, ganzer once again seemingly ruining the crypto party. Here's what: uh, they hear Let me there's some breaking news out that we should ask you about.

Let's just ask you about this right now because the SEC literally as you've been speaking. uh, just filed a lawsuit against Coinbase in Manhattan's Federal court of course. Uh, saying the Coinbase is operated as an unregistered broker since at least 2019 because it never registered as a broker, a national Securities Exchange or clearing agency. The ACC The SEC saying that the crypto assets that Coinbase makes available on its platform put Coinbase's operations squarely within the purview of Securities laws.

It also saying the Coinbase's staking program constitutes investment contract and therefore security. Really interesting how this comes the day after their case against Binance. The SEC I care against their is coming for all of them clearly. I Think that the the question with um, you know, digital assets for example is uh, how how do you characterize them and which type of there's a lot of argument about you ought to be under Cftc as opposed to SEC The Sec's got a chairman right now is very aggressive, but right now there are.

There's no real laws on the books, right? You know? Uh, the Senate's talked about it. Folks in the house have talked about the President. Although this latest thing with Coinbase is pretty interesting. He's saying that this is an investment contract you made with these investors, which makes you a security.

So right. But now we're up. Now We're leaving this to a judge to decide based on whatever you think the law is, even though we don't I think everyone thinks the law is amorphous. The question is whether you think that uh, Congress and and and and needs to step in and actually create bright lines around this, or whether uh, you know you believe that Gary Gensler should be, uh, be the one making these choices.

Yeah, and they were a judge ultimately. and and there is a there was a bill introduced. There's several bills actually introduced around this, but nothing's been acted on yet. and I think there are.

This is an area you talked about AI earlier. a lot too. where I think you have to have some at least you know rules of the road around it. guardrails if you will.

You know to protect consumers and a lot of it has to do with transparency. I mean I think in the area of AI That's a big part of it. if Congress can't make up its mind, which is what it certainly feels like. If they're not going to do it, you know, Well, then you're going to happen.

Yeah, let's see it, Let's see it. Let's duke it out. let's see what happens because you're right there do need to be laws and regulations set up around this: I Think that the challenge you always have with Congress and this is where again I come back to it should be These all things ought to be light, touch and and risk based. When you come up with Solutions coming out of Congress too often something happens in the economy and Congress goes to the extreme and over regulates give The Regulators way too much power.

but I agree that in these this these all these new areas out there in our economy that are incredibly impactful in people's lives um and uh and potentially have adverse impacts on people's lives. You've got to have some general guard rails rules the road and I think I think there is a there's a void there and I believe Congress does need to act foreign Congress does need that. It would be nice if we have regulatory Clarity uh instead of like all this insane ridiculous fighting that we have going on, it would be really nice if we understood the rules of the road. If you're just joining right now, the news of yesterday related to Crypto was the SEC Suing Binance Uh, obviously run by CZ uh, accusations in the same realm of what's being alleged against FTX Not the exact same, but pretty similar.

Then this morning, the bombshell crypto announcement was the SEC is now suing Coinbase. So obviously over the past, whatever 24 hours, there has been a clear concerted effort by the SEC to really go against crypto. Uh, coinbase, finance and then also a lot of these individual crypto tokens projects. Uh, think of polygons.

Matic Uh, I think it's Solana Listen to that one cardano. they're all getting hit because they might be officially defined as the security. Which would mean that the project itself could get hit with some pretty freaking Hefty Fine, So just wanted to let you guys know about what's going on with Coinbase. It is making a bit of a recovery today.

it's currently trading at 49.65 Uh, but it is still down considerable. uh from yesterday. Um, I Once again, just because things pop for the first whatever 30 minutes of the day, that does not mean it's going to be popping for the like full day. I think a lot of short-term Traders are just humans in general.

We're prone to recency buys just to think that whatever just happened will be continuing to happen. And to mine remember: I don't speak legally is none of that jazz. Um, to my understanding of this situation, it like this could get really, really bad for coinbase. So maybe it does.

Maybe it doesn't But if you have any crypto on coinbase, take it off. Why take the risk, not your keys, not your coin. We've seen things play out with Voyager with three AC with Celsius with FTX Don't risk losing your money if you have crypto and you don't want to be in a situation like I'm currently in right now with Voyager. Take it off.

Get into your own wallet. I'm a fan of cold wallets. There's various ones out there. uh, but at minimum, even if it's a hot wallet, get it into your own wallet.

There's no reason to leave your crypto on these exchanges. We've seen it end very poorly in the past. Don't be another person caught up, another victim in just these things getting shut down. and then you get a small percentage of your assets that were on the platform.

And you think anyway, even if you're like him I Don't think that's gonna happen. Even if you think there's a one percent chance of it happening. Why would you take that risk? It is so incredibly easy to take your crypto off these exchanges, not your keys, not your coin. This is something we've been saying for years and we've seen many, many people get burned by this.

once again, myself included. But ever since I learned my lesson from the Voyager deal. You don't keep touching a hot oven if you think there's any percentage chance any. I don't care how small, if you think there's any percentage chance of May baby coinbase going under because of whatever reason, it doesn't even necessarily have to be the SEC Why in the world would you keep your crypto on the exchange? you're taking on risk that there's no reason to take on that risk If your argument is the the upside of staking well that percentage that you're gaining.

what a couple percent apy is, not the risk of you losing like whatever crypto you have saved there or a huge percentage of it. So I'm begging you I'm begging you get your crypto onto your own wallets. Please please please please don't be like another person in my situation just getting screwed by some of these crypto uh, platforms exchanges particularly blowing up. Please please please please please please please please get it into your own control.

Spy bouncing a little Nvidia bounce then came down dancing at 389 coin going sideways Tio maybe making a lower high here at 116. I've never heard of Teo before I've never traded it before Tingo Group The only reason it's on my radar is because of what Hindenburg had to say about it earlier this morning. We are a short Tingo group because we believe the company is an exceptionally obvious scam was completely fabricated. Financials: Tingo Headquartered in New Jersey Claims to have several business segments focused on providing mobile phones, food processing, and online food.

Marketplace for Farmers Primarily located in Nigeria Tinga was founded and spearheaded by some rant, fancy billionaire CEO of a keyholding company entity. Dosey is regularly described by the media as a billionaire and made waves earlier this year when he attempted to acquire the now Premier League soccer team Sheffield United We've identified major red flags with Dozi's background from starters who appears to have fabricated his biographical claim that he have developed the first mobile payment app in. Nigeria we contacted the app's actual Creator who called Dosey's claim a pure lie Josie claimed to have received a p HD in rural advancement from a Malaysian University in 2007. We have contacted the school to verify the degree they wrote back saying No One by his name was found in their verification system in 2017.

he was arrested and faced an eight count indictment over issuance of bad checks according to the Nigerian Economic and Financial Crimes Commission. He later settled the case in arbitration and it just goes on and on and on and on. I Highly recommend you check it out. I've read through the whole thing this morning.

I Recommend that you do the exact same thing, especially if you are engaging in this trade. whether to the upside or the downside. But if recent history is any indication of where things are going, I mean they just absolutely murked IEP icon Enterprises when Hindenburg came out their research. So um I don't know I want you to know about it because the stock does look weak.

But on the flip side, it's a very the options market for it is hyper hyper illiquid and I'm getting crushed right now by IV even though I'm technically right and it's going down, I've lost already money in my options. my contracts options uh, my puts are worth less because of IV Crush So once again, that's another thing that you should know about. be aware about and be comfortable with before engaging in this type of thing. Because if you don't know about IV Crush you're probably the sucker who's going to get crushed by IV So please be careful.

Please be careful. please be careful. And video kind of going flat. coin going flat.

now. how's Target doing? Target chilling at 130 50.