Stock Market Open: The Calm Before The Storm?!
Day 8 Coverage
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Day 8 Coverage
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RISK WARNING: Trading involves HIGH RISK and YOU CAN LOSE a lot of money. Do not risk any money you cannot afford to lose. Trading is not suitable for all investors. We are not registered investment advisors. We do not provide trading or investment advice. We provide research and education through the issuance of statistical information containing no expression of opinion as to the investment merits of a particular security. Information contained herein should not be considered a solicitation to buy or sell any security or engage in a particular investment strategy. Past performance is not necessarily indicative of future results.
Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
DISCLOSURE:
I have a beneficial long position in the shares of AMC & GME either through stock ownership, options, or other derivatives.
Um um me me uh mum. What is going on what is going on? It is wednesday march 3rd, and i i just wanted to say thank you. I am so incredibly incredibly grateful today happens to mark the two year anniversary from me. Getting into this world of youtube.
I was sitting there. I was in brooklyn. The pandemic was getting crazy. I was locked in a one-bedroom apartment with my completely real girlfriend.
No one knew what was going on. There was nothing but fear and terror in the world in a certain way kind of how there is right now thursday. I guess it's a thursday whatever it is. I was focused on march 3rd, my apologies, but i started it.
Just for something to do, i looked up to the likes of graham steph and me kevin andre, jake, jeremy, from financial education. I always love finance. I've been trading ever since i was 16.. I remember my grandparents talking about it.
My mom letting me trade a penny stock in high school. She told me it was going to go awry and it did and then all of a sudden i was hooked. That was when i was 16. I got into college, i had a little bit of money and i needed to pay for school because i did not come from the background where my school was paid for yeah.
I got loans, but that didn't cover everything and then all of a sudden i got into the wild world of options. Binary options at one point, a little bit of poker uh i had to pay school off or at least to get my bills going. So that's really where it got a little bit more serious and then i became a coder and then i got into the futures market. I met some excellent excellent people who really taught me what it was to really survive as a trader to make some extra money from it, and i thought that was awesome and i think my fascination, the entire time, was just the potential in it seriously.
I know i always joke about it that you i i look in the mirror every morning and scream you're supposed to have potential my addiction. My obsession with the market is 100 because of what it represents. There has been no vehicle ever created by man that allows class mobility to be so fluid as the stock market to me that potential of growing up, where i did in my life and then seeing what could be possible through the market - that's 100 percent - why? I was addicted because i didn't really come from munch. It wasn't completely like an impoverished life, like my parents did everything they could in their power to make sure i got what i needed.
I always had food. I always had clothes on my back, but that was my life, a quote: unquote average life, but i always had those visions of grandeur of just like that next level. And then, when my grandparents started teaching me a little bit about the market and then my parents and then when i started trading to pay the bills i needed to pay in college and then after that, trying to pay off my debt and then seeing. If i could just get better and better at it uh, it was something that i just always thought was cool this. This idea of being able to pay for a house your land, your college, all of this by just understanding the puzzle of the market - something about it, like my fascination with numbers, obviously led into it, and i just thought it was so cool. It was if i were to give it a one-liner. It was the way to me that the average person could finally get ahead. The system is not set up for us.
The system is created in such a way from our tax system, our monetary policy. It's set to be less than a zero-sum game: it's a net negative game for the average person and for me in the fascination and only being competitive. I was like what, if you could get ahead, what if you could get on to the other side of it, and because of that in college, i got a little bit more serious and that's uh when i really really got into it and then right after that, When i got into the working world, i had a little bit more money. I was like okay time to take this even more seriously, and it was at some point in college and right around there that i really started following wall street.
That's because it made me laugh, and i had been following it following it, following it and trading trading trading, extreme ups, extreme downs, uh. If there's one thing, that trading is really going to teach you about, it's going to really amplify the positives and the negatives of your personality. 100. If you are a giving caring person when you're making money you're going to be way more, giving you're going to be way more caring, if you are an irritable person with anger, issues, trading and money on the line we'll bring that to the forefront, it's just always A wild wild ride and i think things got even more tense, uh right when 2020 hit a couple months into it.
Like i said, i was in a one-bedroom apartment and i was i had a blast january and february. I moved there in january two months in new york, i was having so so much fun. It was great and then out of nowhere, a global pandemic hit and i was basically siloed to a one-bedroom apartment and i just needed some sort of outlet. So i said on march 3rd a couple years ago, two years ago, let's make a youtube and let's teach people about algorithmic trading, because you can help people make money to me.
How cool is that in this day and age, with the ryzen technology that you can help other people learn about the markets? You can help other people make money that, if there's something to do with your life to me, that's awesome teach them about the markets, especially for someone like myself, who believes so strongly. It's the best way to improve your financial situation is getting involved in the market. As early as you possibly can to me, it was a no-brainer. Did i ever think it would be successful? No in the back of my head, i honestly didn't it was something to do, but i didn't feel that confident in myself, but i had been tracking wall street bets and i knew a lot of deep, f and value at that time. Then we found out who was roaring kitty. Then we found out, he was keith gill and it was just cool. It was a cool bet. It was exciting.
You could saw a community forming around some guy. That bet a lot of money on the crap stable. He bet on green, he bet on zero and all of a sudden it was slowing down and man. Oh man was that ball close to hitting zero.
It really looked like it was. The roulette wheel was spinning, spinning spinning you could almost count the seconds they were getting like time was dilating. You could see that his bet was this close to paying off. What's crazy about it is it did hit? That's the most fucking insane thing about this situation.
Is i was trying to teach about algorithmic training? I was trying to share about fundamental breakdowns of markets and technicals and then all of a sudden one of the most insane events happened was there was a community bred from reddit surrounding gamestop? We all watched one guy bet over 50 000 and then it just got bigger and bigger and bigger. He bet a massive amount on an unlikely event and the craziest thing was it was hit and then the only other thing that crazy is not the appropriate word to cover it. The word is one of the most maleficent insidious events played out. They took the ball off the roulette wheel and now, at this point there was a lot of people, betting.
On the exact same thing, they looked the general public in the face and they told us all to go fuck ourselves. 100. They took away the buy button. We all hit the trade we were at the casino we had the winning play.
The pit boss came around and he said sorry but you're fucked we're not paying you out. It's not gon na happen, that's how it went down. That is theft if this occurred. In any other scenario, this is the definition of theft they stole from you, they stole from me.
They stole from retail traders from there. The story just got more and more insane and for me, when i started off as i want to teach about algorithmic training. Well, this was crazy to me. This was something like i said.
I care passionately about the market. I was like hey, let's see what we can do with it. I was working on a master's in statistics when this all hit. I wanted to dedicate my life to the market just because of what i liked and then all of a sudden it went in my head of wait is the thing that i care so much about.
Is it that fragile? Is it really that corrupt and all of a sudden, like many things, do when you start pulling on a single thread? All of a sudden, the entire sweater comes undone, so i had one year of youtube when i was doing the initial market classic fundamental education, and then it switched into covering this, covering everything going on in the world of retail trading and day over day week over Week month over month, uh on a personal level, i've been learning so much more, but it's also incredibly exciting to see the high of mind grow. But to put myself in that position, i had to take a big risk myself which, where i'm at in my life - maybe it's not as big of a risk to some of you, maybe to other people, that's a crazy risk, but in the time to pull off The pivot that i did on a personal level, i risked it all. I risked all of the money i had to my name. I quit my job and i said we are all in on it: hey if you're gon na bet on xero, and it goes awry the first time you know why do it again? Like i mean a lot of people are gon na look at it. Why would you take another second large risk? Why? Because fuck them, because i can don't tell me what to do with my money. That's why? Because i could double down, don't tell me what to do with my money. I doubled down in every sense possible. I put all of my money on the line which, at that point was very very little and i quit my job.
I said i'm gon na do it. I will figure it out. That was a big risk. It was a big leap of faith because i wanted to cover this day in day out.
It was something i wanted to dedicate my life to and now that we are exactly where we are at. This is crazy. For me, this is the two year anniversary and it's on the exact day that you're, if you have apple tv, you can see uh john stewart show the problem. We have brought this entire thing to the next level.
Every single month, every single day we are getting to another level, i never ever thought we would possibly get to. I just didn't think it was gon na happen because all of a sudden you're realizing that you're finding billionaires, you are realizing that you're fighting an entrenched system. And now, i'm at the point where i'm of the mindset that this is where we're at it's more of a question of well, it's almost flipping in my mind of like well what can't we do uh for me this this ride has been crazy and, what's so Exciting about it is to uh understand the fact that i cannot even conceptualize what we're about to pull off in this upcoming year. This is the start of a new chapter.
This is elevated from the level of us talking about the markets and just kind of making memes and jokes and telling the shorts are wrong. Mainstream media they're wrong, there's wall street that they're wrong. This has now gotten to the level where we - and i alluded to this in a stream or two ago we were having very we're having a good time, we were having a good time playing some t-ball. This pretty much now is getting accelerated to game.
Seven of the mlb series: we are going from t-ball to game seven mlb national championship. The series this is where we're at this has gone so so far, and i'm just i'm so incredibly thrilled to see how this is about to play out, because i think coming back to our casino metaphor, i think we now have that winning hand. I'm so incredibly excited for this fight of market transparency, i'm so incredibly excited for our potential in the fight for market fairness. I think we can honestly pull this off. It's going to be a crazy fight. It's not going to get any easier! This isn't us coasting into it. This is going to get into the serious rounds, but the one thing i've learned is you don't bet against this community? If i like had one take away lesson right here, is that the people who are currently profiting and benefiting off the current, really insidious inducements of the market. In my humble estimation, they should be scared, shitless, there's no other way about it, um and, and we're already seeing it like it's so crazy on the social media aspect of it, because with us one great advantage truly is the our voice, and if we can figure Out how to microphone that voice into like one specific statement, there's not going to be a regulator or a politician who doesn't listen to us, but on the flip side of it with every big pro.
You also have a con and through social media i mean last night like seeing what was going on. This is a point of excitement: the apes we're making a little bit of a headway. We have a new high water mark and then you're just seeing all these bot accounts and these like these shields, and i don't really want to talk about it, but to my supportive group out there to everyone in the moon gang. If you ever have a question about me, if you ever hear something that you're like man, that doesn't seem right, that seems a bit sus.
I am a dm away. Do not blindly trust any of these nameless fakeless fakeless fake accounts, who are attempting to ruin this community, whether they're doing it consciously or subconsciously that is going to be the net result if they just don't shut up there's so many like. I apparently learned things about me that, like i just didn't even know like i read about myself and i'm like. Oh that's, crazy.
I didn't know that about me at all. There's these people speaking and they're just so utterly wrong, and it's basically the frankenstein of the telephone game and things are just spread and spread and spread. So the only way i can really do it is. If you have a question about me dm me, don't trust these nameless fakeless accounts, who i don't even know what their goal is they're, just they just are what they are reach out to me, because right now you know who the real apes are.
You know who's been here. You know, what's going on who's, trying to educate who's, trying to fight for the market, to be a better place for all of us to get back to what i envisioned as a teenager, truly being a fair, transparent vehicle for improvement for financial mobility to the upside, Which is really just it's so downright american of, like just hey, there's this thing that if you learn about it, develop a skill set, you can get to that next financial level you want to in your life. I started off with this of a random idea. I had as a teenager of like i like that i i had an idea. It was an incorrect idea, but it was an idea of what it represents. It represents financial freedom, which is a big aspect of overall freedom. That is so wildly cool for me. So at this point, do i inherently care about amc and gme yeah, but also many other stocks, because the buy button was stolen from so many other people and there's many equities and commodities and cryptos that are actively manipulated right now.
I don't know where this roller coaster is gon na go, but i can tell you where i'm gon na ride this roller coaster to and where i'm gon na dedicate most likely. Many years of my life is going to be fighting for the market. To be the exact thing i envisioned it to be. When i was a teenager because to me it's so so cool and i thought it was real and we're close to it, and we have that potential.
I just really want to make it so. The future me's of the world, the future use of the world, can actually engage in something that should be that fair should be that transparent and should be that equitable for all of us um. Obviously i have no visions of grandeur that this will be easy and it's going to be switched overnight. We've been at this.
I mean i've been on this for two years and really for this particular fight. One year it's gon na it's gon na take a minute. 100, this is going to be a crazy, crazy, knock-down bloody back-alley fight, but i also know the only way to win the fight is to step into the ring. So i don't know, i'm willing i'm willing to more than double triple quadruple down and see where this insane rocket ship ends up going with all that being said, it's an exciting day.
It is thursday march 3rd. The apple show just dropped. Also hbo has a documentary, particularly on gamestop, so there's two exciting things to watch that are discussing what is going on in the market right now, obviously they're using certain equities as an example, but remember what this fight is for. It's for.
Overall market transparency, it's for overall market fairness, uh. There are great great examples that you can use as like a trojan horse into this conversation. But, overall, the clear fight is for the market to be a better market. It's to improve the fragility of the house of cards that we're currently have and actually make it the remote most robust and efficient market we possibly can with all that being said.
I know we have about 10 minutes to go, so i do want to give you your morning prep of what is going on in the market uh. So, just so, you know dow futures, green s, p, futures, green nasdaq, green oil coming down a little bit, but in the overnight session i believe it almost hit 117 oil wildly wildly volatile right now. Among many other things yields popping they're, not back at two percent, but they seem to be on their way. The jobs report came out this morning and remember we get an unemployment report. Tomorrow. Jobless claims 215 000 fewer than expected productivity rises. 6.6. These are some good good numbers that people are very very happy about.
Don't forget, there's two other big things going on in this world. We have discussions from the fed on one hand. Yesterday, the chairman jerome powell, was speaking to the house panel today, we'll be speaking to the senate panel uh yesterday started at 10 a.m. Et um.
I believe tomorrow's is going to be 11 just so you or no no. Today's, i think, is also 10. Excuse me. So you have a whole monetary fed update over on one side and then the other side is still obviously the tensions of ukraine and russia.
So today we are assuming that there's going to be a second round of talks and there was another major city that over there in the overnight session, basically for us in the us, there was another city that fell to russian forces. Just so, everyone knows uh some other weird stories that kind of came out overnight. A russian businessman has put a one million dollar bounty on putin's head calling for military officers to arrest him as a war criminal. I don't know how this is like legal to do.
Uh, i i don't understand uh, but yeah. Apparently someone putting a bounty on his head uh. In other, just more generic high level news wall street looks steady a day after swinging to rally mode um, so things are calming down if we take a quick peek. This is the futures market for the s p, 500 uh.
I had this zone that we bounced off of then we came right up in here and look at that. We were perfectly chopping in this zone and now we're actually breaking out uh. So i'm gon na see if this can hold throughout the day. Currently the rsi is pretty high.
I wouldn't be surprised it has to take some sort of like a reasonable technical breather. If we were to look at the s, p 500, i'm basically seeing if it's going to hold truly outside of this trend line, because if it does that's a big switch, we've been in a bearish trend. This could be a big big switch, which is exactly why i'm saying this is the calm before the storm from a technical perspective. We're either gon na get out here and then rip or we're gon na get smacked down and come back and then come to the bottom line.
Here i am watching to see if we can truly hide like hold outside of this trend line. This is the calm before the storm, the nasdaq, looking good holding above 350. If it does i'm watching 357, so there might be a nice play there and in terms of the russell, also looking pretty strong looking for the breakout of 208. um oil, crazy, crazy, it got up to, i guess above 116, almost 117 overnight.
The overnight session has been insanely volatile, which is more of a rarity uh day, two of fed's pal on capitol hill yesterday talked to the house. Today's talking to the senate the big thing that i would say that came out of it is he said it was unclear if the ukraine situation is really going to have an impact on our monetary policy. I wouldn't see how it doesn't. He also said that for the march remember march this month we are going to be getting the first fed rate hike basically in two years, and there was a lot of discussion of. Is it going to be a 50 bips or 25 because we know by well? If you believe bullard, who is from the st louis fed, he was basically saying by july, we should be at one percent and remember raising interest rates. It helps fight inflation right now, we're at a four decade, high level of inflation, and then, when you throw in the insanity of whatever's going on in putin's head, it's not a good scenario. So, overall he did calm people down yesterday. By saying he is favorable of a 25 bips rate hike, so basically a little hawkish, but not as hawkish as some people were previously calling out, but we're going to get a continuation today, i'm assuming he's going to be asked a lot of the same questions and Have a lot of the same answers from the people at the house.
Un says over 1 million fled ukraine since russia's invasion. Obviously, this is a very real situation we have to keep paying attention to, but there are also some companies that are still doing their earnings. After earnings best buy jumps, 9 snowflake tanks, nearly 20, this latter half i find interesting because we are coming up to the march monthlies, that's march 18th, in the options market, and in january we saw an immense amount of money being bet on a bullish move in Snowflake, a very bullish move, a lot of money and apparently those people were not getting good info, not making a good bet, because snowflake did not perform well um. This is kind of a weird story, but i wanted to share it nonetheless, because we're seeing because of the situation with ukraine and putin's invasion uh, we know there's a lot of artists canceling their tours in russia.
We know that there's a lot of other corporate. I guess sporting events like they're not playing soccer matches there anymore. I believe uh formula, one stopped their russian grand prix we're even seeing some companies such as disney, not doing movie releases. It seems like a lot of groups and organizations are doing what they can to make their opinions on the whole invasion be heard.
Well, this is a wild one. Social media users in china are obsessing over russian cats being banned from international competitions using invasion of ukraine. Like it's now even falling over to cats that have a russian heritage or like really just like cats, don't have a heritage, they just have a russian name. Amid russia's invasion of ukraine, users of china's twitter, like app platform, have fixated on russian cats on wednesday. The hashtag russian cats, our band, went viral uh. The trending topic concerns the banning of russian cats from international cat shows, so this is just so wild. I had to dive into it. I believe these are called russian blues.
It's a type of cat. It's just this gray cat that apparently has like it's not as allergenic as normal cats, but they decided to ban it as the world bears witness to russia's ongoing invasion of ukraine's social media users have been fixated on an unlikely topic, the search term, russian cats or Band went viral in china uh the trending topic, 170. 000 topic threads overnight. Ah, this is wild in a statement on tuesday the i guess, international cat board um.
It was shocked and horrified by the unprovoked, russian invasion of ukraine and highlighted the destruction and chaos caused by the unprecedented act of aggression, uh, federation of cat financier organization, member of the world cat congress. Yes, there is a world cat congress also banned any cat breed in russia from being registered from the world cat congress. This is just so wild. The board feels it cannot just witness these atrocities and do nothing uh.
Even cats like it's just this is just such a crazy story. I had to share it uh so at first this was impacting a lot of obviously people on a global scale, particularly within the ukraine, and also in russia, but now it is going off to. I guess anything related to these countries, so these poor kitty cats, not gon na get their competition this year, uh the the russian blues, not gon na make the cut all right. Moving on to a little bit more of a serious topic hang on.
Let me get all this set up for you just so you know the s. P 500 has a short interest just below 16 15.8. The queues have a short interest of 15 and then this small cap sector 41.75 uh. If you already saw the graph like we're seeing some gap, ups right now remember with gap ups.
I want to say this to you before the bell opens. We know that there is a strong, strong statistical edge for playing a gap fill which would be basically down to 439.72, the high from yesterday. As of now, it looks like we're opening up just above a dollar higher than yesterday's high. This will create a gap in the chart.
I don't know when the gap's going to get filled, but there is a strong statistical edge to playing that gap. Phil the same can almost be said about. Yes, the same can clearly be said about the nasdaq right here and you can then most likely say the same about the russell as well uh. Let me mark this out, but it looks like the overall indices are um that one's the smallest one, the russell uh.
So, overall out of the gate, that is something i'll personally be watching. Just we had quite the bit of a run-up, and i'm just wondering if we're going to get the gap bill, namely on the s p, 500 to 439. 72 might be a potential play out of the game right now. Amc is green in the pre-market tesla had a nice run, but getting smacked right now, uh gme also green, holding above 120. Just so you know, amc trading in 1855 would love to see that test 20 or really it's like or 19 at first and then from there like 20. 25. 20. 30.
Something like that. But despite the q's all strong pre-market, we got some positive jobs data. Hopefully, the situation in ukraine is coming to a swift resolve. I don't know if it is or it isn't, but obviously humanity, that's clearly what we are hoping for and then on top of it fed will be talking today.
So there's a lot of, i would say clear, important things that we need to be paying attention to throughout the day, uh and then don't forget tonight. The fun does not stop at 4 p.m. There will be a twitter space call with dave, lauer uh jay brown, myself and danny moses stock. Talking with jon stewart about the show that is tonight on twitter at 9, 00 p.m, et 9 p.m.
E.T jon stewart dave, lauer, uh, jay brown, danny moses and myself will be talking about the markets, market structure and the insanity that plays out look at that timing, ding ding, ding, ding ding. The casino is open uh. Some people are calling out dwack dwack d, whack d, whack d, wack up already 1.8 percent, all right as the market is opening up. I would love to get to some of your questions wow.
This is going by real fast, shout out, kinky kong. I remember when you had a panic attack when we suggested you email me kevin now. You have him on speed, dial, the part and the part of documentaries. It's been a crazy, crazy, crazy ride.
Thank you for your diligence. Would you say month-long option is enough time for amc or two months is better. I don't think it's an optimal time to play options right now, uh with them personally uh the way i engage in the options market, i'm not seeing the metrics that i like thanks for representing us you're a real one. I appreciate that spacex launching in six minutes for starlink, hey matt, happy friday junior.
Could you please take a look at the chart of v chain. Thanks for all you do? Okay, yeah! Let me write that down v chain. All right! Awesome! Awesome! Awesome! Congratulations! Only! Two year, bro amc trapper shout out, hang on i'm trying to get to these. I don't know why they're disappearing wildfire shout out.
I remember when all right, we did that one awesome all right. Are we gon na get the gap-fill play right out of the gate? We might do i want to play that what level did i say it's close to it. 439.72, so you could get like a 75 play, potentially patience, patience, patience, patience, patience, patience, amc holding above 18, thus far, gb above 120, hang on man. The market really pushed this morning really pushed this morning.
Let's see how this is all gon na open up the jobs report good remember, tomorrow, unemployment uh we're seeing a pop across the whole market. That's nuts, that's nuts, nuts, a little bit of barcoding at open. Let's throw dwack, of course. Let me know if there's any crazy movers that you want up on the chart uh more than happy to cover it apple's up. One percent duac that one's moving, maybe we'll throw drac down here and we'll throw the q's up here. Mark is still looking a little bit hungry. Why is nothing loading snowflake, yeah, snowflake got rocked out of the gate. Hang on i'm having some tech issues.
I think i have to reload my pages over here. Barcoding barcoding barcoding. Let's see what we're going to do with the market today, uh, we also have, of course, all the news for you folks. What is this one? Ukraine calls on citizens to build barricades and cities to stop russian troops.
Uh sergey! That's on a commercial here's, a live shot of kiev, russian military, intensifying in tax. Unfortunately, that is very much true. All right, let's see what we have here allies at the same time we're holding russia accountable, including russia's economy. All right gap fill is 397.
december. First 439.75, massive consequences for 39.72 and lasting economics. This is a gap, fill that i am currently playing very quick trade, 30 allies and partners representing playing it through the futures market, not through the spy just so everyone knows, with powerful sanctions and export controls on russia, including additional actions. Just today i remember you said: i'm quitting my job and going all in and i was going to buy a green screen and astronaut suit.
He sanctioned russian banks from the swift international payments network, pure storage up 14 we've restricted, shout out market to seek funding beyond its borders, pure storage, 13 of the most critical russian state-owned enterprises. Just looking for a real quick test right here, raising money, easy peasy, lemon squeezy gap fill play imposed, sanctions on individuals. What is this one, including president? Putin? 59? The queues are about to gap-fill as well and they're family members just like, and we and our allies right partners here are launching a task force to identify, track down and freeze the assets of sanctioned russian companies and oligarchs. We will freeze and seize their yachts, their private jets, their opulences in world capitals and popping today tesla imposing sweeping sanctions on russia's defense sector.
New sanctions, defense 22 russian defense, related entities will be designated. The queue is about to gap. Phil make combination spy not far away. I should be getting my phil soon on the futures market.
I just got my fill on the futures market. I just played it ukrainian order. Museum and rights violate international united states. That was an easy play out of the gate.
We're also imposing exports uh, the futures market is very, very leveraged, which is why i use it because it wasn't that much in terms of dollars. So i wanted to play it and we will choke off belarus's ability to import key technologies, rivie and poppy. And if luka shank is amc coming up to support at 1825, currently at 1840, let's see if it can hold there all told these sanctions and restrictions have had a beautiful effect when you squeeze the economy matt when we do squeeze - and you make your it's been - A journey montage video, please include random clips of your animated mob girlfriend. It has to make the cut more than doubled. Russia has been cut to junk status. The value of president putin's these are the new sanctions has vanished and by choking russia's access to technology. Uh. We're delivering a blow to its economy and military that will be felt not just now, but for years to come.
President putin may have assumed that the united states for my futures account. I use trade station when we warned of massive unprecedented consequences, but, as president biden likes to say, oh very quickly, um i was too much on my own pedestal there, my soapbox, i should say talking that if you haven't already uh, it would be awesome if you Could uh drop a like button and don't forget to join up with the moon game by hitting the subscribe button war? This isn't the russian people's war. It's becoming clear by the day that the russian people oppose it. Members of the russian military oppose it and had no idea what they were being said to do, and now the russian people will suffer the consequences or do i trade options on think or swim.
So my message to the people of russia, if they're, even able to hear it as the kremlin tracks down even harder on media outlets, reporting the truth. My message is that we know many of you want no part of this war. You, like ukrainians, like americans, like people everywhere, want the same basic things: good jobs, clean air and water, the chance to raise your kids in safe neighborhoods to send them to good schools. Is the market gon na pop your better lives than you had how in the world does president putin's unprovoked aggression against ukraine help you achieve any of these things? How is it going to make your lives better? The economic costs that we've been forced to impose on russia are not aimed at you, they're, aimed at compelling your government to stop its actions to stop its aggression, and, just as millions of us around the world stand together against moscow's aggression.
We also stand together with you, as you demand that your leaders end this war, allow russian soldiers to go home i'll play that i'll play the bounce. Why not united i'm feeling lucky today order keeping the order? Uh just went long, that's going to be very hard right here, uh without military. I should make it green, so you guys know that i went long much more difficult for diplomacy to succeed, and just so you know, my risk is literally just that my risk is small, but if we get a bounce off of here, i could ride this. All the way back up easy, peasy, lemon squeezy, it's my risk. I, like my risk, reward setup. Here's my reward all the way up here. Here's my risk, not a bad deal. Allies and partners continues great job at the problem.
Never seen you looking that fresh with my happy to do it for you counterpart, ukraine's foreign ministry, trying to clean up the thickness. I think someone tweeted that dramatic efforts by the ukrainian government to reach a ceasefire and withdrawal of russian forces. If there are diplomatic steps that we can take update, my background is updated. Is it behind them, even as we can basically they're hitting him with, like hardcore sanctions, additional hardcore sanctions? What other pieces of news do we have uh russian foreign defense? Let's see what they're saying i can enumerate the facts for quite long.
You know those striking images and sale and things - and you don't have time to peruse and read the facts and just spend at least half an hour visiting our website. The foreign ministry website and the defense ministry website you'll not be allowed to raise. Your voices said that accusing ukraine of the rampant nationalism as a lies, a french journalist, responded to him. She visited don boston bombings and shellings of schools and the killings of two women that stuff we've kind of heard.
Let's see what other, let me double check to see. Let me get on some of these other news sources and read off the breaking news of the morning to all of you, beautiful apes rivian, which is having a nice day for itself currently up 2.5 rivian, auto reuters, existing pre-order holders back to their original prices. Apple welcomes the return of in-person today, at apple session, across u.s stores at t introduces premium bundle of in-car wi-fi ukraine bans exports of gas from its underground storages. The president of france believes worse is to come in ukraine after putin.
Call worse is to come. That was 22 minutes ago, and that was from the president of france, and apparently he was talking with putin. He's had a couple talks with putin, uh canada will remove russia and belarus most favored nation status as a training partner. Russia's putin told francis president in phone call today that if ukraine knew neutralism and disarmament cannot be reached diplomatically, he would carry out military operations once again definitely increasing his aggression.
Ukraine said to plan second war bond auction on march 8., u.s crude futures turn negative on rumors of a deal with iran that could allow iran to export more oil. That's why oil is taking a bit of a dip uh 56 minutes ago ukrainian delegation has arrived for talks with russia in belarus, okay, okay, okay, good to know good to know good to know good to know what else do we have? Let me clear all these: let's check out the kiev independent kiev independent one minute ago, ukraine's armed forces, border guards, recaptured ukrainian state border on oblasts. According to the national security and defense council, the northern reader boarding russia saw heavy fighting throughout the war, volkswagen and ikea suspend business in russia. Ukraine confirms peace talks with russia on march 3rd. So i suppose we are waiting really for the results of those peace talks. Let me check a couple other news sources for you: russia's now utterly uninvestible. According to some fancy big wing on wall street, that's reported from unusual whales, citigroup hikes, u.s equities to overweight seems demand for growth stocks, so tech sector type stuff putin tells french president. That goals in ukraine will be achieved all right, we're seeing the spy have kind of a bounce, but the queues have been trending downward riven had a complete arc.
Uh amc right now at its support. What do we have in the small cap sector has been kind of bleeding off uh gme, trying to hold on to 120. d-wack at 97. Would love for dwack to break out and rip uh the spy's going.
This was a good entry. Thus far, i should say: maybe i don't want to get ahead of myself. France has called for citizens to leave russia. France sees his yacht link to an old oligarch.
Russia's finance ministry halts forex gold purchases for 2022. wow. The international cat federation has banned russian cats from its shows, which i think is still just bonkers, but hey even even the cat competitions can show their support for ukraine what a beautiful entry this ended up being. I am surprised it's working out like this.
Usually i don't get that lucky, so i went just so you guys know what's happening right now in real time. I bought three contracts. I went long on three contracts on the futures market, uh and the reason i'm using futures is because right now, my options. Money is tied up with the credit spreads that we've been talking about and, speaking of the credit spreads that plays up so so much right now.
So if you took the most recent credit spread play, you should be pretty happy, but because i am long on three, i'm going to attempt to peel one of my three off right here. Um, i'm gon na kind of show you in real time a little bit of scaling out. So when we get to 441.54, i will be locking in the profits of one of my three. Let me actually set up that order right about now all right and i'm waiting on that.
So one of my three you i didn't scale in on this one, just because i wanted to get in quickly, because i knew my risk was really really close, minimal risk and the more reward, the better it's and that's how you set up your risk to reward Scenario uh: i got three right there, 100 planning on getting out of two by the end of the day, just because it's a leveraged thing futures are a lot a lot of leverage, but i got in here because this was the gap fill we had support and If it started to turn the other way, i would have like taken a paper cut instead of like taking a more serious hit to my account and once again, so i'm in three would love to get out of one of them right up here. 441.54. But if we are getting smacked right at this ooh hang on, i don't know i don't want to ride it all the way down. I would love for this to just turn and tap that i don't want to carry this much risk all the way. Back down to my entry point, i might actually even move my wrist back up to break even but we'll see trying to give it a little bit of time to breathe. My concern is not really the spy, like i'm actually kind of watching the tech sector because, as you can see, the tech sector and the spy are not looking the same today, the spy's been trying to go up, but the tech sector seems to be bringing it Down and now the queues are breaking down even more. Well, that's not a fun scenario. What are we doing here? All right, i cancelled my one order and, let's just hang on one second, i want to give it a second to see if it's gon na bounce here, but i still have my risk no way am i letting it go past that i'd rather live to fight.
Another day and i could always just switch short whoa someone's selling someone is selling all right. That is my risk and i am out i'm out it just broke my wrist. That's it! I stuck to my trading plan uh at first. It was looking really good, but you saw how quickly that went with the the skews breaking down wow that happened out of nowhere was there some sort of.
Let me just check the news really quick, nothing there. That was a real quick turn back real quick. That's what it is, patience, patience, patience, okay, this is pretty cool hang on. I want to show you something right here very quickly right before we get back to the markets right here, dave lauer today is the day.
It's time we, the investors, rise up and take action against dark underbelly of wall street uh. We dash the dash investors.org. You know this is another big thing that's coming out today, and this is something i want people paying attention to check out this website. Uh.
You can find it right here, i'll show you what it looks like. I just retweeted it on my profile, but you can see this is such a cool website. This is another thing. We've been working on of the exact demands as retail traders, retail investors.
It's the exact demands. We should be making it's very, very cool, there's a lot of information here um. This has been something that's been worked on quite a bit in the background and obviously we're releasing it today for various reasons, but check this out. You can it's at dave lauer, it's also, i just retweeted it, but it is we-the-investors.org from jon stewart's latest episode, uh current recent book on new hbo doc, there's an unprecedented level of discussion and debate about market structure problems in the popular discord. It's discussing really for far too long firms that uh productize their users and whose entire business model is one big conflict of interest have ensured that markets remain complex, opaque and, most importantly, extremely profitable. For them, these players have always wielded the power and the purse strings. They've written the rules, but now it's tens of millions of investors having joined the markets in recent years, it's time to change the dynamic and reform market structure in the service to we, the investors, we, the investors, want transparency, control and trust in our financial markets. We want our interest represented accurately.
We want our voices heard and not drowned out by those who profit off of and treat us as products rather than customers. So all this information once again, you can find it all here and like this is going to be the breakdown of some of these major parts. Um and even dave is explaining how to write a comment letter. This is very, very cool 100 check it out um.
This is the link once again right here we dash the dashinvestors.org, he tweeted it out. I just retweeted it. You could find it from there, but sign up, get your email and more and more information like this will be continuing to come out. We have a whole game plan of what we could be doing right now to really make uh amplify our voices even more, and this is just one step in it.
One step in that direction: amc trying to recapture 1825 and the spy. What's the spy gon na be doing the spy, the spy, the spy, the spy, the spy, the spy? Oh the spy? What are you doing what's jerome powell up to drone pal, i believe, should be talking in about seven minutes. Let me see if i could track down that stream for all of you, so this one i got out right at my wrist point, took a baby loss and i think, actually, those are probably more high quality education moments. That was my plan.
We made a new intraday low and i pulled the rip cord um. If i let it bounce a little bit, i could have got out for a baby profit, but what, if it just kept selling like what? If we didn't get that baby bounce? What if it just dropped and dropped and dropped uh, it's the big trades will come the big trades come it's all about. Your job is keeping your losses as small as you can, and the best way to do it is when i saw opportunities like this yeah. I could have locked it in.
Maybe i should have been watching the i was watching the pre-market high, not the intraday, but you never know how it pans out. All i know is i focus on my risk. It broke down right here and i just got out baby loss, baby, baby loss and now we're watching 439. What's the futures market doing right here, let me check this out coming right back onto this box.
This might offer some support, but i also think there might be support at 300, 4392. um. Sometimes i like to check the futures just because it's more of a you get a full chart because remember this is trading 23 hours out of the day, so it gives you just a little bit more of a full filled out chart, but watching 4 392. And if that can't hold watching 4 384 - and this will directly relate to what we're seeing in the spy, it's just the spy's a little bit more choppy because of its trading hours all right and i guess we're bouncing right there. Let's see, let's see, let's see, okay back to the fed, all right, i have that up and it's going to be starting in four minutes. Four minutes, four minutes: four minutes. How is ford doing it did well after announcing the split of its units, but i guess coming back down to this consolidation level, just below 18 d. Dwack, try to make another run at 99 100, thus far hanging out and at 97.80 amc it broke through support came up that support turned into resistance.
We got smacked at it, let's see if it can hold itself at 18.. D-Wack is green. Cfei is green apple, green, not many green things. Today, microsoft's a little bit green.
The queues are trying to bounce small cap on a weird divergence. Over the past two weeks, we've seen the small cap sector actually outperform the spy in the queues, but today it's the exact inverse. The small cap sector is performing the worst while the overall market's performing the best and the tech sector is in the middle. I wonder if the fed's going to get talking and if he's just going to pump this whole thing, what is oil up to oil oil, oil uh, currently trading just below 110? In the overnight session, we had a noteworthy push hang on.
Let me get rid of that. I have this up as soon as they start talking. Uh we'll switch over to this and see what the fed is talking about and we'll see if he's gon na, if chairman powell will pump the markets for us, how is crypto doing right now, it's still holding on uh, so we had a nice push and right Now we're in a period of consolidation, btc trading at 43 and a half thousand east trading at 2, 900. uh, looking a little bit heavy but like it depends on your time frame.
But really we came off of a beautiful, beautiful push. We have oil here, just kind of doing its thing, and this is remember: rumors of iran being allowed to provide more supply and more supply with the same demand. Obviously, price comes down: um the small cap sector, looking a little bit sickly today, even the tech, um amc looks like it's about to test 18.. Let's see what the whales are doing as we're heading into powell's second day in front of congress.
Yesterday was the house today: is the senate uh spy puts by put 15 days out iwm eight days out, put a tesla call a tesla put a q call spy puts by put iwm put spy, put iw input, iwm call cue, put put put put um so For whatever reason the spy has been dominated by puts, and then the queues are a little bit more of a mixed bag. I would say slightly leaning bearish excuse me, but the s p 500, which is interesting because that's been the one that outperformed. As of now. It's up the most and that's where we're seeing the most money is betting against it. Uh. I'm curious now running right up to this trend line 437.50 technically 45.. I'm curious if they want to retest this level right about right about there give or take about 10 cents, just a thought. Just a thought.
D-Wack, looking strong, very classic, hang on hang on cup handle look for it to test and break out of 98.50. You might get a run to 100, potentially even higher, but classic cup and handle. Does it mean that it has to go? This is a bullish chart pattern, but does it have to play out that way? Well, no, obviously it doesn't have to uh, but it's just more of an odds, thing uh. How is m-u-l-n doing oops? Sorry, let me get off of that switch over to this m-u-l-n uh below a dollar.
Currently. Is there a way which one do i, like? The best, what else do we have all right? It's i'm hearing some noise right now in the background, but i guess they're not doing anything quite yet not yet not yet. Uh hang on there's another cool technical trader. I like, let me see what he said today.
His name is adam mancini, he's uh, very, very good at the overall market. That's actually like exclusively the thing that he follows: uh opening update nice push here to open es now up over 100 points from yesterday's uh 4260 to 80 support trail. Stop. Now.
Targets remain four thousand four hundred thirty four thousand four hundred forty five pullback zone to charge up for a real breakout. Ideally, bulls hold four thousand three hundred eighty five, four thousand three hundred and eighty five. Let's see what that actually looks like fairs will come to order. Today's hearing again is in a hybrid format our witnesses in person.
Thank you, chair powell. Members have the option to appear either in person or virtually. I want to start by acknowledging as we sit here. This morning, ukrainians are showing such courage and resolve fighting russian invaders in their homelands.
Ukrainian families fleeing indiscriminate bombings are taking refuge in subway tunnels, something europe hasn't seen since the siege of london. Seven decades ago i express my support for the brave men and women in ukraine fighting for democracy. I know my colleagues on this committee of both parties join me in that it's a russian attack on democracy. It's only the latest terrible escalation of of of what has become one of the main goals of the russian federation to attack and undermine democratic norms at home and abroad.
The world is looking at us right now we're the leader of the free world. It's oldest democracy. It's vital: we live by our values both abroad and at home. It means a commitment to the rule of law, a commitment to democratic participation, a commitment to independent interviews to function like the federal reserve we created the fed 109 years ago. I guess an independent agency as an independent trying to break out any political parties controlled to be staffed with economic experts, not political cronies. It's one of many american institutions that sets our country apart from autocratic regimes. It's vital. We reaffirm our commitment to the fed's role showing the world.
What a functioning democracy looks looks like. Let's show up amc double topped at 1825. comes here, perhaps 14 times a year. It seems to him that's the best way to achieve a strong, growing economy that lifts up the whole country this time.
Last year, our country and our economy were in a place of deep uncertainty. Four million americans out of a job frontline workers just beginning to get vaccinated. We were in the midst of a public health crisis and economic crisis that needed all of us: policymakers, business owners, workers, union and non-union alike, to come together and tackle the challenge of this pandemic economy. It's what we did.
We passed the american rescue plan. We got shots into arms money in people's pockets, workers back on the job, kids back in school, against the odds 2021 became a year of, as the chair, i'm sure will say, unprecedented economic growth for our country and job creation, wage gains gdp for the first time.
Thanks for sharing this. I rather watch it on your channel than on the official GOV site.