So so so so, hello, hello, hello, welcome to the dumb money show for today may 24th and boy, oh boy, it looks like we're. Gon na have a little bit of an interesting tuesday. Things were pretty bullish yesterday and i went into that full explanation of why i thought at least in the short term, things would be bullish for the overall market, specifically the s p. 500.

I just think really things got overextended people really digested what the fed was going to do. I think there was going to be a lot of unhedging in the gamma market, so i thought we were going to see some of the shorts covering their position once again. The overall market i was 24 hours ago. I was really pitching to you why i thought it was going to go up and for one little minuscule day.

That seemed to be right. Now, through the futures market, i was playing the s p 500 and if you're following me on locals, i locked in all that so that was a nice winning trade. Unfortunately, a different trade i had was tesla call options. They are expiring this friday, the 27th.

The strike price is 6.85 and things are down in pre-market when the futures market reopened at 6 pm et last night because of people's not so good feelings after the snapchat earnings, and basically they were applying that to the broader tech sector. Of hang on. Inflation is serious, there's going to be a hiring growth slowdown. Maybe things are still pretty pretty bad well after they extrapolated snapchat's comments to the rest of the tech sector.

We saw quite a bit of sell-off in the spy, the cues the russell. It was not a good evening and then unfortunately, there wasn't much of a rally between the european and asian session. Now today it's going to be a little bit interesting and i think it's going to be an extraordinarily difficult trading day. For me, i don't have much of a bolus bias.

I don't have much of a bearish bias. I think there's going to be a lot of whipsaw today. If you look at the s p 500, particularly in the futures market, there's a gap filled to the upside there's, also a gap fill to the downside. Usually, if there's a gap, though i like to play it, and if i had to pick one like if you twisted my arm, i'd, probably pick the upside getting filled first, but once again, when you're in between two different gaps, it's a tough play.

So today's gon na be one of those days unless maybe around 10 10 30. Maybe we'll see the formation of a nice trend that we could just ride for the remainder of the day. But as of right now, it kind of feels like more of like a lower leverage type of a day unless we get that obvious trend. So i want to get into everything going on on the big picture, and then we also have to get into some of the specific stories, and i found an interesting like article.

I want to share with all of you as well and then hopefully, we're gon na have a little bit of time for your questions, and on top of that, we also have to get your vote to get rockin today, with whatever the morning like the market open Algo algo's gon na be because hey, why not we're degenerates we might as well embrace it, but before we get into all of that, shout out to today's stream sponsor today's stream partner. I'm talking about true training group. This is pin to the top of chat. It's in the description, the video, this it's a they're, so confident they've actually been crushing it lately.

I was in the chat room the other day. The call outs that mike and the rest of the traders over there are making uh making a stupid amount of money, but on top of it it's a lot more. It's a chat room. It's an education model.

If you want to figure out what it's all about right there, a free seven-day trial, all you have to do is put in your name and your email, no credit cards, none of that bs. Anything like that uh before they were giving a seven day trial for like a dollar just to they wanted people who were a bit more serious, but people didn't like giving over their credit card information. So i completely understand so now we got rid of it because of all of your feedback put in your name, your email and you could see what true training group is all about for absolutely free, so once again shout out to ttg for sponsoring today's stream. Now, let's take a little lookie see what's going on in the market, so the spy pretty nice day yesterday in the futures market, we crushed that tesla.

I was making money and then post market trading absolutely demolished me and don't get me started on pattern day trading without pattern day trading, i would have locked in my gains at the end of the day, and i would have woke up bright-eyed and bushy-tailed ready to Take on the day again, but i couldn't because my account's below 25 000 and if you're training in the u.s, with an account below 25 000 you're treated as a leper, not actually, but it is still one of the most idiotic stupid rules we could possibly had. I swear, i swear, i swear, it makes people with smaller accounts be a worse trader. I know many of you in here would agree with that statement and you're like yeah. No i've been on pdt and there was times that i didn't want to lock in the profits i wanted to lock in.

There were times that i had to withstand a larger loss because i couldn't get out of the trade, because i didn't have any more day. Trades yada, yada yada, there's many of you who agree and there's some of you in here who maybe don't agree you're like well, i kind of like actually like pdt, i think, you're being like a little bit harsh on it um. I just want you to know that you're wrong. So yeah, that's that's all! I really have to say about that.

I'm going off my soapbox a little bit here anyway, so i'm currently my current live trade with all of you is tesla. I'm in a tesla call. May 27 685, and it's not a pretty situation. My average cost is just over 18 and by the time the market opens up i'll be lucky.

If i retain like 50 of that value, i very much need tesla to just rip out of the gate. I would love for that to happen, snapchat getting slaughtered slaughtered slaughtered. Yes, it's having a lot of problems like internally as a business, but it was more the commentary from evan the ceo and we'll be getting into that, but he was just talking about how bad the macroeconomic backdrop is, how bad inflation is and how they're going to Slow down hiring zoom also had their earnings at first. It was pretty good, but, as you can see, it ended up selling off pretty harshly five things to know before the stock market opens today, tuesday may 24th dallas had to give back some of monday's snap back rally.

Abercrombie and fitch plunges best buy dips after earnings. The thing i want to point out not necessarily best buy, but i guess in this world, uh abercrombie and fitch best buy like all these kohl's walmart target. All these, none of them have been doing well, uh, classic consumer type stores they have all been losing after their earnings, which is why i want to really drive home. Maybe an idea, a trading idea for this particular week.

Costco is reporting after or before the market opens on thursday, so basically, tomorrow, there's a good chance i'll be making a play against costco, because the pattern i'm seeing is classic consumer-based stores. None of them have been doing well, target down, walmart down, coal's down, abercrombie and fitch best buy the list goes on and on and on and on and on, and i just don't think it's going to be doing that bueno uh snap sinks after mis issuing profit Warning citing difficult economy and that's really what rattled the boat for everything that we see, especially in the tech sector zoom video jumps after shows an ability to reduce costs. But even it's nice gain it's giving back quite a bit of that spacex president defense musk over sexual misconduct claims that feels like something not fun for me to talk about and it'll most likely, i'm sure there's people who have your opinions, but i'm not the guy Who you should be getting your opinions on sexual misconduct from uh? Obviously it's not a good thing and i think that's all. We really need to say about that anyway, snapshot of, what's going on this morning, the dow, the s p and the nasdaq all down oil up a little bit once again, just to call out oil.

I think, by the time we get up to 115 and it's knocking on the door of a breakout. We can see oil really explode if it can surmount that 115 per barrel level yields coming down taking a little bit of a breather, so bonds going up in the short term. Global stocks and u.s futures fall after snaps profit warning fuels, growth fears, global socks fell tuesday, with u.s futures setting up a retreat from the previous day's sizzling rally. As investors continue to fret about an economic slowdown.

Investors, fears about an economic slowdown were fanned by a warning from snap ceo about a challenging macroeconomic environment hitting hiring and revenue growth for social media platforms for the rest of the year. Snap spooked the market with a macro economic warning that dented tech the most and pointed to earning revisions that could drag the market lower for longer. The company not only worn what it would miss in revenue in earnings estimates, but became the latest to say it would slow hiring so once again, snapchat right now, like obviously taking a massive hit. It's currently down 34, but this company is worth 37 billion.

It is not snapchat's a decline that is prompting a sell-off in the spy, the queues in the russell. It's more of people are taking snaps warning and commentary from the ceo and applying that to the broader tech market. Let me give you a little fact and figure here from the start of 2022, if you're, considering netflix facebook, amazon, tesla, microsoft and apple those six from the start of 2022. To this very moment, they have lost over 3.1 trillion dollars in market cap.

So on the back of snapchat they're, now kind of extrapolating that to the rest of the tech sector, saying, oh, maybe we are in for a really rough year, even though the fed continually tells us that we have things under control. Economist david rosenberg predicts that the s p 500 will crash a further 17 and says we're currently reliving the summer of 2008.. The s p 500 will crash a further 17 to 3 300 as stocks enter a prolonged bear market. That's comparable to the run-up of 2008 financial crisis.

I feel like i'm reliving the summer of 2008. Where was i in the summer of 2008? I guess i was going into ninth grade, maybe eighth grade. Maybe i was going into high school, something like that uh. So, probably not the most ideal summer.

For me either the stock market is following a familiar pattern of a recessionary bear market by late tooth by excuse me by late may of 2008 before the extent of the problems of the subprime lending market were apparent. The s p 500 had narrowly averted following into a bear market having dropped by 17 at one point from the previous october's record high before recovering. So that's what they're talking about the similarities, i mean we had a nice moving up to november and granted. We did hit an all-time high in january, so it's not like the exact same month, but there's you're never going to have a perfect repeat of history and in the market.

The saying is, history doesn't repeat, but it often rhymes and that's kind of what they're alluding to here, having dropped 17 at one point from october, but it wasn't long before the market went into a near free fall, dropping a 40 by the end of the year. So will this particular downturn, which i do think we are going further down this year, like i think we have more pain before things get better in the short term, i'm still leaning a little bit bullish just because of gamma related stuff in the options market, but Overall, have we seen the low of 2022? I would argue we have not. I want to be very very clear of that. I think we have to endure more pain, but i don't think that this sell-off is actually going to be fueled by the housing market whatsoever.

Uh right now the housing market real estate is still pretty strong. I know some people are trying to say: okay 2008, we sold off, we knew that was housing, but it's just if you look at the data related to housing. It's a very different world right now. Relative to 2008, i think this selloff is more of the fed, is doing what it can to hamper demand they're, making capital more expensive with capital being more expensive.

It makes business growth more difficult and, as we see continuations in earnings announcements such as snap but then apply that to some of the biggest companies, i think rightfully so the market just got a little bit too hot and it's necessary to take a breather. Many economists have argued that the fed's pandemic stimulus package contributed to unrealistic stock market valuations and at their decision to start hiking interest rate risk leading to a crash. Rosenberg echoed those concerns and criticized fed chair jerome powell, whom he said myopically focused on job openings. A very soft data point so basically not focusing on the full picture and said maybe the fed came in a little bit too heavy-handed with their qe quantitative easing to get us through the pandemic and now to undo that situation.

Maybe it's not enough a little bit too late. An agreement with rosenberg is jamie. Dimon, the ceo of jp morgan diamond, says the fed's bond. Buying pull back is an unprecedented headwind for markets and no one know what its effects will be, and his reasoning is basically we've never tried to unwind nine trillion dollars before.

So it's not really like there's a game plan for this. Yes, the fed is pitching us that they're gon na do a soft landing. Don't worry we're gon na. Do this amount of balance sheet normalization we're gon na start on june 1st, then we're gon na in september really get into the world of 95 billion and hey.

It's going to take three years, but we're not really that far behind the curve. That's the rhetoric we hear from the fed, but it's one of these things that there's no playbook. I want to make this explicitly clear: unwinding a nine trillion dollar quantitative easing package has never been done before so they're doing, i suppose what they can, but to be that confident in it one way or another of like yes, it's gon na work or yes, it's 100 gon na fail it's a giant unknown and remember the market does not like unknowns. Jamie dimon has said the federal reserve's plan to reduce its bond holdings is countervailing force against the economy, the likes of which investors have never seen before and added that the effects of it are anyone's guess.

So me a stupid streamer him, the president of one of the largest banks on the entire planet, we're in the same boat. No one knows what's going to happen the next day in the market. You don't need a fancy pedigree on your wall and you don't need a fancy monkey or a duck we're all on the same boat of i don't know like just shrug your shoulders and say i don't know what the hell is. Gon na happen.

Next, no one knows what's gon na happen. Next, the u.s economy remains strong, thanks in large part to consumer savings, built up as activity was restricted during the rona era. That's actually one of the reasons as well that real estate is particularly strong right now, even though real estate's high in price super super elevated. The amount of saved money on on average per household is actually close to a record level, but that strong economy is being met by two countervailing forces, both of which we've never seen before.

High inflation and qt also known as quantitative tightening, which is the opposite of quantitative easing and it's them trying to undo the 9 trillion once again. This will start on june 1st and they're, going kind of like at half force for the first three months and then in september, they're gon na notch. It all the way up to full force and then we're gon na ride it out, ideally for three years and see how that all goes millionaires at the exclusive davos retreat in the swiss alps have called on world leaders to tax them more now. I know a lot of you are probably like matt.

Why are you not at the world economic forum? Why were you not invited to davos? What's going on, we thought you would be the keynote speaker in front of all these millionaires and billionaires talking about the global economy. You're right and i just said: hey guys, i got a stream to the moon gang. I appreciate the offer i really really do. It was super nice of you, but i got a stream on rumble youtube twitch.

I got ta talk to the moon gang. I don't have time to be talking to these uppity people in their fancy, suits and dresses about how they're rich and how they should be. More or less rich, i got ta stream, i'm a views, so i know many of you are probably wondering that i just wanted to let you know a group of millionaires attending the exclusive davos retreat in the swiss alps has called on world leaders to force them To pay more tax, several millionaires joined left-wing tax activists on the streets of davos, switzerland, where world leaders and members of the business elite have gathered at the world economic forum and then just to give you kind of two sides of what's being discussed there. One side: it's outrageous, that our political leaders listen to those who have the most know, the least about the economic impact of the crisis and many of whom infamously pay little in taxes.

The only credible outcome for the conference is to tax the richest in taxes. Now, as someone who has enjoyed the benefits of wealth, my whole life, i know how skewed our economy is, and i cannot continue to sit back and wait for someone somewhere to do something. So i guess it's just rich people patting themselves on the back and saying hey we're great we're for the average person tax us more, but it's also the world economic forum, so it's not like country, is actually like. Individual countries are actually making policy out of it.

So you might be arguing what's the point and i don't i don't have an answer for that actually moving on. You know this is a little freaking nerdy uh, but i want to share it anyway, because this is the that actually makes you money in the market. So one of the coolest things about our current system, education and markets - is there's a lot of nerdy people out there who have to write fancy schmancy papers to get those fancy schmancy pedigrees on the wall, well to get those fancy schmancy pedigrees. With writing the fancy schmancy paper.

A lot of them are publicly available, which means people like you, people like me. As long as you have the capability to read as long as you were hooked on phonics as a child, you can literally read some of the most highest n data, quantitative research of the market and make some pretty good trading methodologies off of them. So, for example, this is one that i was diving into this morning: hedging demand and market intraday momentum, dun, dun dun. You know, if you ask me if they want more people to read this.

I think there should be like more colors and maybe more pictures and, like maybe some pop-ups, but i don't know i keep writing them and they're not going to like they haven't taken any of my suggestions, but i do want to go over the abstract, because i Do think that this is something that maybe you guys should all know, and i get it it's a little bit nerdy, but once again it's this nerdy, factual stuff. That's gon na make you a better trader. It's gon na make you a more profitable trader. Hedging short gamma exposure requires trading in the direction of price movements, thereby creating price momentum using intraday returns over 60 futures on equities bonds, commodities and currencies between 1974 and 2020.

We document strong market intraday momentum everywhere everywhere. The return during the final 30 minutes so basically from 3 30 pm until 4 pm is positively predicted, as in it is positively correlated with the recent movement in the market. So, basically, if you go from 4 p.m of the previous day, up until 3, 30 p.m of the day, you were currently on 4 p.m of the previous day, till 3, 30 p.m of the day you are currently on. If that's green, that means that there's a statistical edge of 3 30 to 4 of the day you're, currently on also being green well, if you're, red from 4 p.m, till 3, 30 4 p.m.

On the previous day to 3 30 pm of the current day, if that's red, there is a positive correlation with from 3 30 to 4 of the current date that you're on that also being read. This has to do with market makers and hedging. But basically it's saying whatever direction you've been going over over the past day, there's a good chance. You continue in that direction for the final 30 minutes of the day.

Now, obviously, in this paper they have some seasonality of where it works better in certain equities bonds, futures that type of thing. So i highly recommend that you all read this if you're at all interested. Obviously, here is the article hedging demand and market intraday momentum just give that a quick, little google search and you can find this nerdy paper and read it. I thought it was pretty cool.

I want to go through it a couple more times, but overall, i just wanted to call out that this is like legitimate types of studies that are done in the market, that you could easily apply to your own trading methodology, to make you a better trader and Or investor - and this is just one of hundreds - if not thousands - of papers that you can find for 100 free that relate to the market - you don't need to just arbitrarily guess of like is this good ta? Is that bad ta? How should i interpret the fed doing this or interest rates or bonds or the conversion with the yen there's so many cool things out there, and we can literally just really ride off the hardcore research of these people who have way way more intelligence than i personally Do and you just go through and be like: okay cool thanks for the data. Now let me go make money off of it so feel free to check it out. I think it's actually a very interesting article. Airbnb is closing its domestic business in china.

According to sources, one of these days i will be a source. All mainland chinese listings homes and experiences will be taken down by the summer, but airbnb will continue to maintain an office in the country to focus on outbound travel. Airbnb formally launched its mainland china business in 2016 and has faced mounting competition from domestic players. Stays in china have accounted for approximately one percent of revenue for the last few years, so airbnb is saying no way jose.

We are done now. This has literally nothing to do with the markets at all, but it does have to do with the internet and hey, look we're on the internet right now, so we might as well talk about it. Toxic fans are flooding a psychiatrist page with negative reviews after amber heard's team called him as a witness, and this is one of those things that the internet has just once again shown off how it is the internet. So this psychiatrist spiegel stated that johnny depp in the johnny depp amber her trial has behaviors that are consistent with someone that both has substance use disorder as well as behaviors of someone who is a perpetrator of intimate partner violence.

Depp's lawyers countered questioning spiegel's ability to reach his conclusions without having direct contact with mr depp, which hey that's a fair point. How can you make these kind of comments about someone who you've never actually spoken with? Well, anyway? That's really not the interesting point of this story. It shows how crazy the internet can get and right after this trial, they, like just on terms of the internet, ruin this guy's life. Dr spiegel needs looking into after today's performance, he looks and sounds like he's.

The one who needs psychiatric help called my boyfriend johnny, a stupid pirate uh and then on. Google, like they just basically flooded him with one star reviews on like all of those places that you can review a psychiatrist, and it has nothing to do with his actual practice. It has all to do with his testimony that was more in favor of amber heard and not so much in johnny in terms of johnny depp, which, if you look at the internet, the latest things in terms of justice for johnny that hashtag on twitter. That has about 15 billion hits, while i stand with amber, has about 8 million, so the internet is wildly supportive of johnny depp and not so much amber heard, and then that leads to massive internet blow ups that spiegel, which there's no way he expected this to Happen is uh currently taking the brunt of very quickly for amc.

22.5 short interest as the shares and loans are hopping up very high 163 million and in terms of gm short interest 25, with the shares on loan at 22 million costs. To borrow getting very, very high on gme in terms of amc, it is increasing slightly, but still on a relative basis, uh pretty low. I would argue all right. Where are we at in the market? Now i do need to ask you guys a poll uh: is the market open going to be green or red because we got to make money out of the gate, green or red? So let me ask all of you do do do so.

That poll is live on rumble. You could just comment, please uh, green or red for market open. That's what we're talking about not necessarily on the day, and i do want to let you know. If you're, looking at the s, p 500 futures market, we have two different gaps.

We have a gap to the downside at 3904, which is equivalent to the spy being at 390, but then there's also a gap to the upside at 3976, which is equivalent to the spy spy being at like 397.5. So we have an upside gap and a downside gap. I like playing gap, fills, but it's just when you're in between two. It makes it a lot more difficult.

If you had to twist my arm, i would think that the upside one is going to get filled. First, but that's also because i'm hopeful that that happens because i have tesla calls those tesla calls right now, i'm afraid to look at what happens when the market opens, because i'm gon na be down quite a bit of money, uh tesla i mean i was looking Good into close, and then i'm just getting my ass handed to me right now, i need tesla to explode up to like 700.. So am i being logical, probably not. I probably do have like a bias like.

I want it to go up. So maybe that's like really, i don't know clouding my judgment, but i don't know time will tell i'd rather be lucky than skillful when it comes to the game of the market. Uh green for 20 minutes green orange, open up uh green by end of the day red morning, interesting so it looks greenish biden we have a little bit of interesting. It looks like we actually have a deviation between rumble and youtube today.

Interesting interesting, interesting, interesting. I wonder why you guys are deviating from each other. Does that mean that i get to pick if rumble and youtube are disagreeing? I feel like that. Maybe is a fair rule.

Who knows it's going to be a volatile open regardless um? What is even the code right now easy language um right now? What are we going for five hundred dollars that open we're going for 500 at open man versus yard is saying youtube is wrong, sounds flat to me. Go with rumble all right, we'll go with rumble. Today, we'll see how it goes, then other people are saying rumble is wrong. Uh-Oh, the old rumble versus youtube debate honestly there's a chance that maybe both could be right.

I just want to make my money. I just want to make my money. The audio tapes swayed me, oh, are you talking about the amber herd. Rumble is better duh all right.

Well, we are hang on. Do i have the code turned on? I hope so i hope so i hope so i hope so. I need i'm afraid to look at tesla. I really am at market open.

Okay, we have 90 seconds left um before that bell goes ding ding, ding, ding ding, remember! The opening belt is brought to you by ttg. It's pinned to the top of chat. It's in the description of the video you can sign up. All you need is your name.

Your email and you'll get that free one week trial. You can check out the chat room, the education module, you can see them calling out trades live, it's a pretty cool thing and you can try it for free, no credit card, so shout out to them, and then, on top of that, this is more of a Personal thing, as we go to the bell opening uh - it's always nice to pop that up on rumble and on youtube as many likes as we can or the rumble equivalent, so on youtube uh. If what we need 495 more, let's cross, that thousand like barrier before the bell goes ding any ding, ding ding, and then i don't does it update, live on rumble i've never been on that battle board right now. My rumble is telling me that i'm at three i'm at 59..

Well, you guys got to get that up to 250.. All right. I think we are getting ready. We are getting ready.

Let's go, let's go, let's go, the casino will be opening in about 20 seconds. Let's get a little espresso in our system, uh! Oh, i went long. I hope rumble was right. Oh golly! This is a very important support.

Level. 3925. I just want that to be clarified. The casino is open.

Uh order filled, oh sick. We made our money. How much money did we make it got in at 28.50? Well, rumble crushed it today, 28.50 by i don't know we somehow made money some amount of money. I think we made like 450 dollars 29.

I think maybe four we either made 450 or um yeah. I think we made 450 on that, so that was sick. Well now i feel good all right. Let's go green, go green team, uh tesla's very much going the wrong way come on tesla swing, it back around swing it back around.

Let's put up the cues right here and then let's put up snapchat over here, because that's the one that is getting absolutely decimated. Oh the cues, the tech sector matt. Could you do a video on inverse etfs? I bid on them, as i can only buy shares in ets if you're looking to watch a video look up extra history tulips, i actually already have a video on etfs. If you just search mac, core's, etfs, uh, there's like a full breakdown and i cover inverse etfs and that uh.

But what was this one extra history tulips extra history tulips honestly, the um, the rumble call out you guys got the place so quickly that, like there was even a mess up in like the audio from tradestation like it just was a little bit awkwardly delayed uh Before it showed up or didn't, show up you guys, like already made the money, should we do it again? Is it going to go? Should we play the upside gap? Fill yes? No, maybe so order filled all right, we're going for it we're going for it. We're going for it um, so i just went long four contracts at 3937.5 uh was it a stupid play 100, but i'm just trying to be optimistic. I'm trying to get the gap fill all the way up to here. Come on.

Let's get the gap. Phil come on come on, come on optimism. It's all about optimism. You just have to be stoked about your own play.

Oh, oh all right! Maybe i shouldn't have been so optimistic. I just thought i just i uh someone said play the gap field. There's a gap filled both ways: there's a gap falls to the upside and the downside, and this is gon na get. Oh, no! No! No! No! No! I think i just top ticked it.

I think i legitimately top ticked it uh. Oh yeah! I pretty much top it son of a all right, that's not a good scenario. Oops. I think i made a mistake team, a team team team team team.

I think i may have made a slight error. Ah, that's awkward! That's that's an awkward one! Breaking your rules! I'm just trying to i'm trying to show a little bit of love for my tesla position before i check it, because i know it's going to be down so much. I guess i should no it's still going down son of a oh make the pain stop. Please! Oh, no, no, no, all right time to check in on tesla yeah down 51 we're down five grand on that one.

Oh that's brutal! Oh! No! No! No! No! What did i do? What did i do? Um all right? We just need optimism. None of this negative nancy stuff at open, hey there - i just all i need to remember - is the people who are selling right now. They hate teachers, they hate kids, um and i'm on the right side of the trade. I just need to be confident.

No one likes someone who's, second guessing their position. I just need to exude pure unadulterated confidence in the play. Stop going down, what's going on with the options that open seriously 67 percent bearish dude, no, all right. Let's all right! Let's not! Let's not focus on that.

Let's, just let's be positive, tesla i'm seeing some green. Let's go, let's go, let's go, let's go. Did i top ticket? Yes, i did that wasn't good that was chasing. I broke my rules, we're not even five minutes in all right.

Just green green, green, green, green is good. Green is good. Green is good. Green is good.

That does not look good yeah, that's not a good looking! I mean the right here. 3925 is incredibly important and we're below it. Why did i do that? All right we're at the point where we're hoping for a hail mary, we're no longer in the realm of making a good, reasonable trade. We're at the point of praying we're at the point of throwing a hail mary to the market gods and seeing how it all plays out that's what we're doing 100.

What we're going to be doing come on just more give us a pop. Where is the volume like just give us an ex it? Has that vibe that it's like barely holding on, maybe there's going to be like a dark horse, bull that just comes in and starts buying. Stop stop! Stop! Stop! Oh! No! No! No! No! No! No! No! No no no no come on. I just want to get lucky, i'm seeing a lot of red team, i'm seeing quite a bit of red um, all right now we're in the fun game of damage control.

Yesterday, fortunately, was a very good day, at least in my futures - account uh, not so much well. I didn't really close in a winner or a loser on the options account yesterday, but so in the futures account i locked in a nice win, so i kind of need to get out of this before i like give back all of those gains all right. Let's bounce off of support probably should have entered here if i was going to be bullish at all. So now we're just going for that hail.

Mary red box is green rdbx, uh wow. What an interesting day i mean redbox. Obviously, you have that big resistance at seven dollars currently trading at six. You never know, what's gon na happen with something like this, it's on the threshold list.

It is a low float. It has a high high short interest, um, i'm not in red box or bbig, but i do find redbox to be more interesting than bbig just because it's short interest is considerably higher. They have roughly an equivalent cost to borrow. Redbox is also a lower flow on a relative basis to bbig.

So not only does it have a higher short interest, but it technically could like do something more wild. Why snapchat struggling so bad because their earnings were horrific and they basically said it's probably going to get worse all right. Let's swing back, come on, tesla lead lead. The charge show us what's up, come on tesla recapture 650, this just five bucks at a time.

650. 655, six: seven six sixty six, sixty five like we just need some optimism: red box getting smacked right now, uh about to go red on the day. How is oh, the spy and the queues are looking exactly the same. How is amazon? Looking amazon apple, microsoft, microsoft, a little bit of a pop nvidia, uh, okay, there we go spy, let's just bounce off of this support.

Let's bounce off of this support: let's do it, let's do it, let's do it. Let's do it. Let's go! Let's go, let's go! Come on bounce and rip the old bounce and rip snapchat looks like it's just dying. It's down 38 right now come on come on, come on, come on, come on, come on, come on, come on all right.

What's the options market doing options, market 65, bearish a tesla put three days out q puts look at this wall of q, puts for 52 days out, and then they also have some spy puts for 24 days out. A q put for 24 days out a spy put for 87 days out spy puts by put 87 24 geez louise. It seems like the well. We got some amazon calls coming in, but those are 24 days out, yeah 66 dominated by the bears today.

Oh well, i guess we're we're. Bear hunting today. Um, sometimes we're bull hunting, sometimes we're bear hunting, and today i am team. Bear hunt why i don't have that good of reasoning.

Besides that's the trades i have on, i am being biased. I fully admit it. I fully admit it, i'm just we're going for pure hope at this point from a technical perspective, i think this retraction that we saw was kind of brutal just related to snapchat. I mean we closed out the market here and then the futures market gapped down, sold all the way off like.

Ah, you would think that it would at least want to push this 390 50 level, which is about 395 on the spy i to me in the short term, it's just a little dramatic, it's a little dramatic, but maybe that's not good enough reasoning. Who knows? Let's go let's pop spy uh, currently down three grand on the s: p 500. I needed to get back all the way up to here, just to be break even tesla, trying to make its decisions nvidia going down semiconductors, getting smacked amazon with a little bit of a pop apple holding its own microsoft. Looking, oh man, semiconductors are leaning the way down.

Look at nvidia just got cracked amd. Looking heavy micron, looking, not good uh intc is intel intel. Looking weak, i mean nvidia. Just got smacked hard nvidia down 4.6, so semiconductors are really really messing up.

Um, the queues right now the tech sector is struggling, granted we're only 13 minutes into the day, so maybe we'll see like a crazy reversion. Maybe maybe this is all a little bit of a dramatic, dramatic, dramatic overreaction. I'm praying it is tesla. Coming back, tesla lead the way come on.

Elon lead the way, confidence exude confidence it just we're not building up any positive momentum like we get a little bit of momentum and it just smacked so abruptly. Snapchat is just dying off nvidia, just getting murked nvidia down. Six point: four: four point: seven percent amc down six point: almost seven percent gme down four point: four percent: netflix down four percent: microsoft down: one apple down: 1.6: nvidia: 4.7; tesla, 3.8 uh; it's a sea of red right now we're just trying to cobble together some Sort of recovery bounce - this should have been the point. If i wanted to go along today, i just got a little over excited at open.

If i wanted to go along, it would make way more sense here, because you have a wrist point. The recent intraday low and you're buying it at support from a technical perspective. It's way more reasonable to execute a long position here. If that's something you were looking to do, nvidia is just dying, snapchat dying.

The spy is trying to put something together. Uh. We need to wait for this to update we'll come back to that. Come on spy, just push go, go, go.

Show us. Who's. Boss show us that upside gap phil show us that gap, daddy gap, phil the gap, daddy gap bill. Let's go, let's go come on.

Uh: here's a quick sneak peek in the futures position, um we're down now down 2.5 k. I went long right here. That's where this yellow bar is that's my entry. I like almost top ticked it.

I almost made the worst long position. You could have all cash session. I was a mere point away. Two points away: that's impressive! 38.50 yeah! I was one point away from making the worst trades you could have possibly made.

I think in its own right. That's impressive! I think i deserve like kind of like a like a bad beat special on that one. You know to go long, almost at the worst point. Almost, why did you listen to rumble? Well, rumble was right actually like the rumble trade was just for market open, uh and that one like cleared in like 20 seconds um.

The rumble trade was right here. The rumble trade was right here open and they got profit target, like literally within the first minute. They got in at 28.25 out at 30 75. They locked in about 450.

The this trade at 933 was me being stupid. Uh rumble made money. This is matt quarters being a dumbass uh, stark difference, stark difference. Do we quickly just switch teams here? Oh no! No! No, no, no do we just hammer the market.

What am i feeling today is this support gon na hold, this is not having a good vibe. The fact that we can't recapture 3925 - like that's, not looking good. All right. Do we switch teams, we do switch.

Teams. Hang on, ah, this is gon na be painful, we're gon na lock in a loss team. We got ta, you got ta, be agile, it's just simply not looking good uh. I just try to lock it in, but i'm wondering if it's lagging again, i'm confused.

I'm trying to close the position what the like i'm i'm trying to not do that double click thing like i did before hello, what the uh i'm having a tough time getting out team order filled that was wickedly late. All right order filled what the order rejected. What the hell is happening right now, a little bit of a lag going on. Oh me, of course, of course, so the net result of that is, i am now short all right.

I'm gon na cut tesla, i'm cutting tesla, sell six tesla calls we're selling those uh cell six tesla 855 confirm and send it didn't get okay. I just got out of tesla uh. Let me update locals cut tesla out of tesla calls at 8 55. ouch ouch.

Okay, okay, so i cut tesla because it looks like it's just getting to be a worse situation. I see nvidia dying, um snap. This is brutal. Should i just go against tesla? Should i revenge trade tesla? It's probably worked for me in the past tesla tesla tesla, tesla tesla.

I do have a day trade that i can burn and then i get two more tomorrow. Oh my count is back to just under break even now at that 10k line. 6. 30.

tesla. Oh man, i'm trying to get into a tesla trade, it just filled tesla may 27, 6 30 put um and i got in at 1870. tesla positioned position. Tesla puts four: i got four tesla plus four tesla puts may 27th 6 30 strike and uh 1870 each 1870, each all right.

We switched sides what i switch sides, and this happens. This is a day that you could go until this is 100 a day that i can tell that i might go on tilt holy um. Okay. How can we salvage this don't go until? Basically, if i cut the current trades for a loss, i need to stop on the day because i'll just revenge, trade again and i'll lose more money.

So in the futures market i went against the spy and in the options market i went against tesla. I just dictated the tesla trade may 27 630s. I paid 18.70 per one and on the spy that one was crazy because you guys heard the delay like i was trying to get out and then just three minutes later it just we've been having this weird problem with like the trade station and just hitting the Buttons and then the execution coming wildly later um i need to stop. I need to stop my only trades, for the remainder of the day will be closing these positions.

If i choose to do so uh that will be that i can't keep doing this today or it'll end very, very poorly and i'll blow up the account so i'll stick with the current position for now we'll see how it goes. We'll pray, uh. 4. 000..

I think i already lost 4.5 grand on the futures market. Let me do some quick, math, really quick, uh. 37.50. 1625..

37.50. 16. 25. How many points did i lose uh.

37.. 21.25. 21.25. 21.25 right did i do this math right 21.25.

My new position i got in at 17.25, which means my break even on my futures trade today, is just over this gap. Bill looks like there's. This is the bottom side, gapful 3904, which would bring me to. I need a little bit of an overshoot.

This is where i could break even is 3896. if it hits that i could get out break even for the futures market today, but it might bounce right off of this gap. Phil who knows, as for tesla tesla, i lost six grand. Oh man, damage control, this stuff, sucks, uh, minus six, grand um, which means the account is actually below.

We started it at 10k. I got it up to 16k and then after that, tesla trade. It was down to 9k, so i was actually at a net loss of a thousand, but actually right now with tesla trading in my favor. I could get out on that and then just get my account back into the positive at like 11k.

If i get out right now, it's currently up 16 brutal dude brutal, ah come on nothing like going on full tilt emotional trading, nothing like it! Oh well, we'll see! I guess it's time. We i think we need to go for it. I can't around today. I need to get this money back hang on one.

Second, i have an idea desperate times call for desperate measures times call for desperate measures ruin this whole thing we'll send this whole market down, we'll send the whole market down i'll crash it i'll crash it we're gon na crash the whole thing all right. No more off, i'm ready, i'm zoned in, i am zoned in we're. Ending this thing say goodbye to capitalism. I need to make this test some money back man nvidia's getting rocked furry, i'm not a furry, it's just a panda outfit.

There we go there. We go there, she blows there, we go there, we go all right, so we are back. Finally in the money on the futures market uh. Well, the new trade is up money, uh that dumb stupid, chasey trade.

I did this morning. I don't know why. I did that, i guess it's just uh for my account losses, so we're back in the money we're slowly slowly but surely making some of this money back and then um we are. The tesla trade is currently up 2.4 grand, so both of them are almost halfway to just making like we're we're climbing out of the hole we're climbing out of the hole today, we're climbing out.

Let's go: let's go, let's see this money remember this is the gap fill right here, gap fill 3904. This is where i'm break even 3896.. I'll make this one green, because you know that's where i'm finally gon na be in the green. If we go past that um and then for tesla, i don't even wan na think about how much money i'm down on tesla like tesla.

What did i get in that my average price was 18.70 and i need to make 15 pack per one? So that's 34 on tesla, which for hahas, let's see what that would even be well 10, more bucks, we're actually kind of getting there we're getting close, all right, positivity we were on the i was on the wrong. I was obviously on the wrong side, but now that we have the bear outfit on now that we have the duck headband, it's gon na go our way. Let's ruin this whole thing: let's ruin the entire system. Yeah i mean it today i mean it today, uh.

What didn't purple really make it fall here? We go where's tesla, oh there we go almost a gap, fill gap daddy's about to win again, except. This is a tough gap daddy day. Where is support on tesla team tesla, tesla tesla tesla support, we tesla broke support holy um, okay, wait! It's coming up on another support right now, though. Tesla okay tesla has support at 6 20 and if it breaks 620 we're talking 600..

Once again, if you are in tesla, support is coming at 620. 620. 6. 26.

26. 20. After that we are talking 600.. Those are the levels to care about.

Those are the levels to care about uh, so about nine, more bucks till we're at serious support. Let me get rid of this silly and then let me throw up the session profile, so we can see the point of control. The point of control is at 650, so we're notably below that, notably below that uh snapchat getting a little bit of a bounce. I actually find nvidia to be a bit more interesting that selloff today on a video just because it's a much larger company, but let's check out the tech sector tech sector coming down 284..

Let's see what we have on the qs remember. We were calling out 293 yesterday which obviously it could not recapture uh. The support at this point in time on the queues is the wick from two training days ago may 20th, which is 280 21 if it breaks below 284, so watch 284, then watch 280.. Of course, tesla bounces right as i'm about to make some money, am i in the money? Yet what strike did i say this is brutal.

Here's this account by the way, just to show you guys. What's going on so uh the it's been a not fun day. So here's the tesla i had to close earlier. The tesla calls for may 27th uh.

The 680 calls apparently p l open or on the day well on the day, but that's not the most fair, because i was uh. I lost about six grand somewhere between five and six grand and you could do the math. I got out at 8 55. I had six at an average of eight eleven, so i lost like five and a half grand i lost about six grand.

Let's call it six grand, but then the put that we're in right now, it's already up 32 percent and i'm in veru and that's down 100 bucks right now, but that's a little bit of a longer play because those expire in june um. So this is, i have well virus is a live position, but it's like not the most active one. My active one right now that i need to actively pay attention to is this tesla put for a 6 30 right there, a 6 30 put. Are we in the money we were in the money for a hot tamale? Second, is es bouncing off of the gap? Phil? Okay, it's right at the gap bill! That's what's going on in the futures market right here and then i am back to break even on the futures today if it gets to 389 3, 800.

Okay, okay! Well, in the meantime, i think uh went full demo killed all tech which killed the cues all right. So we have that. Oh actually, i want to get technical here um, but we already did lock in some money because of the market open. So we do have a 500 buffer 450 buffer.

Really what training platform am i using uh for stocks? I use public for options i use thinkorswim and for futures i use tradestation. I would love to consolidate. I would 100 love to consolidate and it looks like - maybe not in the near near future, but it looks like i might be able to consolidate everything soon to public or ftx. Ftx is rolling out a beta of equities trading.

That's going to be non-payment for order flow, and i think after that, they'll get options so like i would love if i could do it all on one platform that would just make my life way way easier, um, but right now, as you could tell it's like Pretty dispersed pretty dispersed, oh no, are we bouncing just off of that gap? Phil, i'm gon na cry. I just just go down just just go down. I have the magnet on and everything i have the magnet on and everything all right. We're gon na put a magnet on tesla come on.

Let's just get: let's see that capitulation, let's see it we're about 37 minutes into the trading day. Obviously, the first five minute pop was not held the tech sector. Getting crushed uh, it looks like nvidia is leading the trip now. Actually, tesla is leading the trip down.

Now, let's check out what finn viz has to say about the market uh healthcare - somehow still in the green but other than that pretty red. But it looks like a couple: other things could stuff like still definitely move to. The downside could definitely move to the downside. Let's see what the options market is saying: oops options market still holding at 66 percent bearish premium, a spy pook, you put apple, put amazon, call spy, put put 24 days out amazon, put for three days out amazon put for three days out.

Q call for one day out interesting amazon put three days out, i'm looking for the short ones. A bunch of q calls coming in for 24 days, uh zoom three days, nvidia call three days: amazon put three days: tesla call three days, tesla put three days, uh a little bit like when you look at it. This way a bit of of a mixed bag, but when you look at the total money, 66 two out of three dollars are being placed in a bearish manner. The volume almost 50 50.

so more, even though it's like one for one in terms of a call and a put more the bearish bets are more sizable. Oh there we go this magnet doing what i paid it to do. These magnet the magnets are expensive. Folks, um, okay, how much did i say? I lost four thousand five hundred okay, we're at fourth hey we're back to break even on the futures market, back to break even back to break even back to break even back to break even back to break even back to break it's time, money double.

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