Oh W Oh oh brother oh brother oh brother Good morning, good morning, good morning, good afternoon, good evening, good night, good, whatever freaking time it is for you. Welcome back to another episode of the Matt Cor show where you're Matt Kors I'm the show and together we're going to do this things now obviously: I see a lot of upset people in chat right now I see a lot of upset people and I don't blame you, you're slinging the dword de Merit left right and center and and you're accusing me of it And for that I somewhat accept. And the reason I somewhat accept was if we look at the facts of the situation, did the show start late today? the answer is yes. Was it an honest mistake because I forgot to set up the stream key? so I ended up streaming to a random stream that like a hundred of you saw and you're like what are you doing this is the wrong Stream So that also happened.

So technically I started the show on time I just I I sent the show to the wrong part of the interwebs. So for that I apologized I will accept half of a demerit half of a demerit I will I'll accept it and hopefully hopefully, hopefully, hopefully I can make the show good enough today that you guys kind of absolve me of half of the demerit that I rightfully did deserve this morning. So my apologies for that, my apologies for keeping you wait, but you know I'm just trying to build up the anticipation a little bit of Gena I actually don't know what that means at all. So if someone who knows French or just knows what that very common term means, feel free to let me know.

Um, but it it just sounded it sounded appropriate. Hey, stop firing me. Hey hey, you guys. don't say that.

Don't you stop. Come on guys. I have feelings too I have feelings too. You can't just fire me.

Come on guys, let's be cool about this. Let's be cool. Let's be chill everyone. Just calm down everyone.

It's a Wednesday it's hump day I know you guys are feeling a little bit feisty, a little bit hot and bothered, a little bit fired up, and and I can sense that fun fact about hot and bothered I use it to mean angry and I know it doesn't like commonly mean angry. uh but I say it so often that one of the first times I met my fiance's mother, uh, something happened and I I did something that makes my fiance angry. at that point, she was obviously my girlfriend and I would be like oh yeah, this gets her all hot and bothered and the look I got from her mom the first time I met her, it was honestly in one of the top three like awkward moments of my life when I'm like oh, like she doesn't get that I say it as angry when none of the rest of the world says it as angry Um so that that's awkward and that happened. Speaking of awkwardness, Uh, so obviously you guys heard the story yesterday with my fiance I like to text her things like she doesn't know about us and then I make up like random things and later she's like oh like yeah, that was just a weird story for stream right and I'm like yeah, totally and then I'll text her later be like oh I got her off her Trail like whatever, she's not suspicious anymore I don't know.

It keeps it fun, keeps it, it keeps my life enjoyable, not necessarily hers. Well yesterday I'm telling you guys this: She ended up making an amazing lasagna and she poured over it for hours like she made a great lasagna. It took hours to prep and it we ended up kind of getting it to dinner late and she was like I didn't think it was going to take this long and it was. It was awesome guys.

Honestly, maybe as a giveaway today, I'll box up a piece of lasagna and send it to one of you guys just so you can corroborate the quality of the lasagna we ate last night. But anyway, the point is, it took her hours of prep, hours of actually cooking, and then of course you eat your meal within like 15 minutes. But she put a lot of effort into it and it turned out well. so her one ask of me, her one ask of me, was to do the dishes and I was like yeah, no problem and the dish just take what like 15 minutes in terms of effort put in doing the dishes.

After all the planning, the prep and the actual cooking and the planting and all that, it's far far less so. Anyway, I was there doing the dishes and I was like obviously acting the way I do because life is a show, you know and Piper uh obviously the head of the macro analytics within my own hedge fund Piper hopped up on the table and I just like to talk to her like she's a human because like hey, I'm not going to Baby her even though she's 5 months old I'm going to treat her like an adult why not and I kept talking to her as I was doing dishes and like obviously my fiance was in within here shot and she could hear me talking to her and we were talking about like whatever and there was a little Lull in the conversation Piper wasn't talking back to me and then she meowed and I was like I know it is ridiculous and then she me out again I was like yeah in a in a certain sense I do feel like a single mother do doing all the work and when I said that I if my fiance had laser beams in her eyes, they would have been blowing me up. They would have cut through my chest cavity and I would no longer like she was so angry I think she was if she was bigger than me I think she would have put my head through a wall I Really Really? Do? Um, so that's how things are going in my life. So it's not just you I'm making angry.

It's not the fact that I was late to the show I'm making everyone in my life angry Uh, my par of social relationship friends such as you guys, my digital internet friends, and uh, the person who I'm would the term be betroth the person I'm betrothed to. We don't really say that anymore, do we? Anyway, that's how my life's going. That's that's where we're at. That is absolutely where where we're at and welcome to the start of the show.

where obviously we talk about relationship advice. So if you guys have any questions about your relationship and maybe ways to improve it I'm obviously always here for you. Do I have a license? Do I have a certificate to do any of this relationship advice psychology Psychiatry Therapy? No, absolutely not. Which I think makes it all the bit all more fun.

so that's where we're at and I guess this is the time where we kind of move it on from the therapy part of the show to what's going on in the world Politics the economy and thus the stock market. if you missed it yesterday. Massive congrats to you. If you had a bearish position, maybe you were short, maybe you were yoloing puts and seriously, congrats to you if you had a bullish position.

Ooh o Kind of feel bad for you. Yeah, like just you might not want to look at your account this morning because boy boy. G Wickers Uh, it was a a brutal one. So if you were bearish, you're feeling good.

your counts in the green if you're feeling bullish. Ouch. ouch. Well obviously this morning things are bouncing back back a little bit.

We get did get the ADP job openings report. uh actually it was a bad report which is actually then good for the stock market. We have some updates coming out of Japan and we also have some political updates. If you miss what's going on in the political scene it there's more drama than the bachelor there really is.

So Kevin McCarthy After 10 months on the job as Speaker of the House he is no longer. He was ousted by a coalition of Republicans who were not happy that he made a compromise with with the Democrats for the whole budget deal and it was particularly led by Matt Gates a representative out of Florida so we could cover that and what's going on there because it is going to be important. But I do have some other updates that we should kind of get through as well, So that's kind of the name of the game. We're going to talk about what's going on with Kevin McCarthy Matt Gates and the Speaker of the House position.

We're going to be talking about what's going on with Biden and his new student debt relief I Guess Bill law we're going to be breaking that down and then I just have some updates. Uh, more. Market oriented um, important levels of support resistance. What's going on in the options Market All that good jazz.

So I hope you guys are ready I hope you guys are strapped in. Um I would either suggest you securing your stocks, socks or completely removing them because we obviously don't want to be knocking those off throughout the show. So there's your for warning. That's your warning for the show.

Um, if you haven't already, make sure you smash the like button. make sure you subscribe. It helps with the algorithm overlords that very much control my life. so if you're watching in right now, it's completely free to subscribe, It's completely free to smash the like.

and I'm going to talk about them in a little bit, but obviously show a bit of love to Today's Show partner I'm talking about Streetbeat pin at the top of chat in the description of the video and there's many things that it offers. It's a robo advisor, but my favorite aspect of it by far is the fact that you can mimic what our elected officials are doing. Whatever they're buying, you could be buying. and whatever they're selling, you could be selling.

So if you want to mimic our elected officials, our politicians, and what they're doing in the stock market, check out Strey pinned to the top of chat in the description of the video. make sure you're using the code Matt because that's how you get a free one month trial and with that being taken care of, let's talk about the Old Ston. Market So the Spy got hit yesterday bouncing back up. Same with the Q's uh, tech stocks, eh.

they were all right. A Lot of people are paying attention what's going on in utilities cuz it got absolutely merked on Monday making a bit of a recovery on Tuesday A lot of people also now paying attention to oil, which recently got pretty high. It got us almost to 94 actually above 94 excuse me. But since then oil is now taking a bit of a hit, so a little bit of a relief in the world of energy and utilities.

Also bouncing back. The other thing that I think people are going to be talking about just because: yields are spiking and bonds are absolutely plummeting. which if you look at TLT it still blows my mind, but we have uh XLF the financial sector still taking a pretty considerable hit. Stock futures are little change after Dow turns negative for 2023.

not so buo. in fact, recent movement. If we did not consider the highflying tech stocks that really benefited off the AI boom earlier this year, even the spy would be in the red. There's a cohort of six, seven, eight different equities that are pretty much keeping the spy in the green This year Tech is fairing a little bit better once again because of the overall AI hype cycle, but even that is starting to show some cracks.

We'll say 10year treasury yield trades near levels not seen since 2007. 30-year bond rate tops 5% so you can see what's going on in TLT These are the 20-year bonds and we obviously know. bonds and yields move inversely so. Bonds were as high as 155 excuse me, 155.

They're now all the way down to 86. and if you want to see the yields, us, uh, 10 y would be the 10-year yield just ripping. We're at 4.8% almost got up to 4.9 a lot of people calling out for 5% So we're seeing yield rip through the roof and we're seeing bonds plummet through the basement. So uh, for those of you kind of more of an overall macro view.

Uh, not the best situation at the moment. Uh, on top of that, obviously. oil. Very, very high.

Taking a bit of a breather now, but oil. uh, bouncing off of 6768 getting as high as 94 currently trading at 8750. And on that note, Indian Energy Minister warns of organized chaos of oil tops 100 per barrel I Personally think that oil will go over 100 a barrel just looking at OPEC and their allies. What's going on with Russia and just basic supply and demand looks as demand is really not coming down and suppli is being uh, artificially constrained by just what they're doing with production.

and obviously even within the US of just like, uh, the refineries, they're kind of capped out at Max utilization. So there's various uh, macroeconomic headwinds that I think are kind of stopping oil from dropping or I should say tail pushing the price higher. but I wanted to get your thoughts on it. So right now, we recently hit 94 coming down to 87.

but I am still bullish on oil and hey, to be fair, I've been bullish on oil for more than a year for part of the time. At first I was right, then oil took a pretty big hit from 130 all the way down to the high 60s and now we're coming back up so you could be like, well, your thesis was kind of right, but also kind of wrong. You got to give us a time frame so that's why I Kind of want to turn it like back over to you guys of do you think $100 is realistic for oil or do you think that even this push is a little bit too much and we're more so likely to come back? Um, want to get your thoughts on that And as it's coming in, let's talk about the most recent updates in the world of political drama: House Out: Kevin McCarthy as Speaker a first in US history Kevin McCarthy A Republican representative from California after 15 attempts 10 months ago, was selected to be the speaker of the house which is currently controlled by the GOP. Obviously, fast forward 10 months.

He, in some view of the Republicans made a deal with the devil aka the Democrats to get the spending bill passed. This was obviously just over the weekend and there was, uh, what's referred to as now quote unquote hardliners basically I don't know I don't like calling them more extreme, but that's how the media is labing them there. There's a group within the Republicans who like, hey, we don't like that you did it, We're going to vote to get you kicked out and just because they had I believe a 10 vote majority. Um, he really really needed a lot of the people in the Republican party to vote for him.

Obviously there was enough that didn't so he lost his position. After 10 months, the House of Representatives on Tuesday outed Republican Kevin McCarthy as Speaker The first time in history that the chamber has dethroned its leader in a no confidence vote. The vote was triggered by representative Matt Gates of Florida formerly launched a process of trying to remove McCarthy on Monday evening and one day later he was gone Gates Said Kthy no longer represents the interest of the Republican caucus after he worked with Democrats to pass a stop Gap funding bill to avoid a government shutdown. Here's what Gates had to say or excuse me.

Here's what McCarthy had to say. All right. welcome back More breaking developments out of Capital Hill and the Ouer of house Speaker Kevin McCarthy Let's get back to Emily Wilkins with more good evening! Briany is now addressing reporters. his final speech: I I Guess it's technically not his final speech as speaker because he was already ousted earlier today, but it comes moments after he announced to the Republican conference that he would not be running again now.

Republicans haven't figured out exactly who would follow up with McCarthy but you know McCarthy Took a minute to reflect on what he had done. He said that he had no regrets. Listen to what he told reporters just moments ago moment: I May I lost a vote today. but as I walk out of this chamber I feel fortunate to have served the American people I leave the speakership with a sense of Pride accomplishment and yes, optimism from the day I entered politics.

My mission has always been to make tomorrow better than today I fought for what I believe in and I believe in this country of America Mcth. All right, you get the point. We have to give that breakdown more interesting things right here: I will not seek to run again for Speaker of the house I may have lost a vote today, but I fought for what I believe in I believe in America has been an honor to serve so Kevin McCarthy not going to be running again for Speaker of the House McCarthy Aler means more to Memorial as next shutdown fight looms so remember uh September into October Saturday into Sunday We were about to shut down and they did basically the stop Gap H it's a bill but it's more of kicking the can down the road. It's going to last for 45 days.

So basically within the next six weeks we're going to have another series of fights and this time it's going to get more turmoil as this is saying cuz not only are they going to be fighting about the next spending Bill budget all that good jazz but now obviously within the GOP they're going to be fighting about who should be the next speaker of the house I guess with this, maybe you guys would be more informed than I am I'm just thinking of it now and I haven't done the research so this is very much a genuine question now that Matt Gates kicked out Kevin McCarthy Is he the front runner to be speaker of the house? Is that how things work? Like is it kind of like within the jungle? like you eat what you kill and the fact that he took him out Or like who just put Nancy back? no no no okay. I'm seeing some NOS who is the current front runner I Know that there's an interm Speaker of the house but I was just wondering like is he the front runner or anything like that M Gat said he doesn't want to be the speaker, he doesn't want it No Nancy just got kicked 10 minutes no no no Nancy no no he doesn't want to be a speaker. Okay I appreciate the up thank you on this vote. The yay6 the Nays are 210.

The resolution is adopted without objection. The motion to reconsider is laid on the table. The office of Speaker of the House of the United States House of Representatives is hereby declared vacant. It will be Trump Is there any uh, evidence of that? or are you just saying it? or I I Don't think it's going to be Trump but am I missing out on something? Uh, speaking of politics and drama and yeah, a fair amount of insanity, We got some breaking news as student loan payments resume Biden cancels $9 billion in debt latest round of relief will provide help for 125,000 borrowers Biden Seeking new avenues for Relief After High Court ruling.

So basically the Supreme Court said hey, what you been doing you can't do anymore and now he's trying it with a new way and obviously attempting to cancel $9 billion worth of student debt a college diploma. The GI bill sent soldiers returning from World War II off to get their degrees and ever since that higher education has been seen as the ticket to a better life in the United States helping not just those getting the opportunity, but driving the economic force of the United States as well. There's not enough college educated white men to drive the economy for the next 30 or 40 years. It's demographics, so you need blacks to start businesses.

you need Latinos and women to be part of the economy. But over time the cost of going to college has skyrocketed, putting increased pressure on the system to make sure young people can get there. We've got to find a way to break the back of the education system and make it more accessible, cheaper. Get more people into college.

Uh, get higher graduation rates? That's I Think a societal thing that we have to face and is going to be very critical in the next You know, 10 years and once in college that they can find the resources they need to stay there. People that are going to college today still have to pay significant amount of tuition and they're going to need financing. Sofi is one of the companies that can provide that, but there's a number of companies in the ecosystem that haven't been able to withstand what's happened over the last three years and they've dropped out in helping people pay for their college or refinance their college, creating what Ray Maguire of Lazard calls a pipeline of talent. A pipeline As diverse as the nation is being prepared to lead, you have to make sure that we have a robust pipeline.

That pipeline needs to have sponsorship, that pipeline needs to be trained, needs to be encouraged, and it also needs to have visible examples of people who look like the pipeline so that it gives the pipeline some confidence that they too can get there. All of which feeds the American dream of enlisting all the talent we have for the benefit of us all. I benefited from living in a country that believed in my potential and even though I was a poor kid kid living in a rural community, America cheered me on. This country wanted me to win and succeed, and that manifest in the ways in which all of this made it possible for me to get on the mobility escalator and ride it as far as I could and my talent would bring me now.

I Know this might be a little bit of a hot take, but I really don't disagree with many things stated in that. but I do very much disagree with student loan forgiveness because I get that education's important I Think we need more people in higher education I Think we need more higher quality education because there's a lot of degrees right now that are arguably like worthless. and if you look at the math of student debt and the interest payments, they're never going to get out from under that burden. But the reason I disagree with this student loan forgiveness is because it doesn't fix the problem.

When you are looking at this problem, you don't fix it At the final issue of like the payments at the end, you go to the start of the problem of societal. and I guess cultural pressure to join college. And when you do join it, you need a more quality service. On top of that, the cost of basically everything related to college has outpaced even inflation.

So to me the reason I disagree with this and I'm not really knocking people trying to go to college or anything like that. I Do think that there's a lot of useful degrees, but the way we're to me and this is just my opinion. Maybe you agree, maybe you disagree. This to me is basically using everyone's taxpayer dollars to buy votes for one party.

That's what's going on here. So I get that the 9 billion the 9 billion is coming from somewhere. It's coming from taxpayers. So whether you went to college or didn't go to college, whether you went to the Army didn't go to Army Whether you went to votch school.

Whether you didn't go to votch school, it doesn't matter if you're a taxpayer, part of your money went to go pay for student debt relief s for a certain subset of people. To me, that's not fair. What about people who went into the military? What about people who College wasn't for them? What if they went to Votch school? What if they decided to become entrepreneurs? We are picking a subsect of people and saying, you know what, you don't have to pay that back and why are they doing it? They're not doing it for moral reasons. You could argue that there's many other forms of debt that are more moral to pay off, such as medical debt.

What this is doing is, you're looking at the cohort of people who have this particular debt and you're saying, wow, they're a bunch of Millennials They're going to be voting for a while. Why don't we use taxpayer dollars and end up just we will'll buy their votes and hopefully they continue to vote for our party for the remainder of their life. To me, it's so evident what's going on here that I I just that's all it is. And of course, if you're in a a debt situation right now, particularly student loan debt, of course you like you're going to be like, well, I want it cuz like why like and I don't blame you As a person at all, this is more of a rant and a tiate against the way our politicians are using it.

Politicians have no issue spending someone else's money, especially if they're in the situation where they can spend someone else's money to increase the chances of them getting reelected. That's what's going on right now That this is not a smart economic move, this is not a smart moral move. This is not sending the right message to anyone. and it's also not fixing the issue that is like really the at the start of college of people going there and what colleges have to offer, we're not going to the base of the issue.

There are so many things that are wrong with this that the only realistic summary of the situation is they're using all taxpayer dollars to buy votes. and I I I Think that's absolutely ridiculous I Think that's absolutely insane. President Joe Biden will cancel an additional $9 billion worth of student debt. The White House announced after Federal Student Loan Repayments restarted this month following a 3-year pause due to the Rona period.

According to the White House, the latest loan relief will help 125,000 Americans and it is a result of changes made to Federal programs for lowincome individuals, public servants, and borrowers with disabilities. The relief includes 5.2 billion in debt forgiveness for 53,000 borrowers under the Public Service Loan Forgiveness programs which covers Public Service employees in federal, state or local government. Around 51,000 borrowers who made 20 years or more of repayments or excuse me of payments will get 2.8 billion in debt relief due to quote unquote fixes to the income base repayment program, the remaining 1.2 billion relief will Aid 22,000 borrowers with total or permanent disability Biden Has been forced to lean on various Federal programs to help lower student debt. a key campaign promise After the Supreme Court Uh, conservative majority struck down his original plan to slash around 430 billion in student debt 127 billion.

one more time, 127 billion. That is the total amount of student debt relief Biden has approved since taking office, aiding nearly 3.6 million borrowers. The White House has said, to me, 127 billion there's somewhere between 80 and 90 billion in medical debt in this country and to me, that's a more moral thing to forgive. You're not necessarily saying hey, we're going for one age group I.E Referring back to the buying votes thing, Yeah, okay, there's going to be a little bit more of a focus and a higher density in the upper age bracket cuz most of the time those are the people who are going to have more medical debt.

I Get that? But to me, student debt is something that is picked. You decide to go. do it. Albeit, you're deciding to do it when you're 16 17 and your brain's not even like close to being done formed.

But anyway, no one's picking medical debt whether it's an accident, um, unfortunate genetic. Lottery There's whole host of things that go on with medical debt that are clearly out of a person's control. Student debt is actively picked by the person. so if we're talking morals of what's right to pay off what's not right to pay off this to me.

and I don't think I've never heard a good argument of how I'm wrong but maybe I am and if you have a different opinion, feel free to share it it. it's very obviously I just want to buy votes. That's I'm going to buy votes and hopefully they vote for me because I forgave their student debt. It It blows my mind, close my mind.

um I want to come back to this? Something in breaking in the financial markets? What's behind the selloff? We're going to come back to this as well. and uh, I do want to give you a little bit of a warning: your phone will make an alarming noise today at 2:20 p.m. ET unless you turn it off first. So there's like some sort of Nationwide emergency type of a thing.

So 2:20 p.m. ET today. don't be surprised. This is my public service announcement to all of you of maybe turn your phone off at 2:20 p.m.

so it's not making a crazy amount of noise and with that being said, the market is officially going. Ding ding ding ding Uh, hang on. One second. Dingy ding ding ding.

The casino is open. Best of luck all play responsibly if not have boatloads of fun I Hope you crush it all right? All right, let's do something. Absolutely degenerate it. Order filled, order filled.

targ F I'm just going boom boom boom boom Oops that wasn't the right order over here. Uh, that was I 74 Do I just want to close this order filled All right Boom already $450 I Don't even ask me what I'm doing folks cuz I don't know what I'm doing. It's natural. This is what happens when you're the best.

Trader On this side of the Mississippi you wake up brigh eyed and bushy tailed and I can read this Market I can read this price action better than I can read a freaking book and you might be thinking to yourself. but Matt you're not the best reader out there and hey, you're definitely not wrong on that statement. But even if I could read a book, well, I would still be able to read this Market better than I can read a book Dude, it is a minute into the day and I already I Made my money 450 Done. Done.

sign the check waiter, bring the check around, another round of coffee and let's get rocking Easy Easy Peasy lemon squee And people say trading's hard. Trading is so freaking easy. You just you have to be the mental Titan that I am the mental Titan that I am I just dude. The way I interpret this: I feel like Jarvis in Iron Man I Feel Like That giant Mainframe computer.

What's it Eagle Eye Whatever it is the way I interpret this it. it's second nature. The way you guys don't think about breathing or even making your heartbeat that that's the market for me. Such a douchebag I really should try to be one of those Tik Tock influencers who like just say the dumbest.

it's so cringe H Matt Lear Learn just to read his wedding fast. Oh man I love those Tik Toac R like we made one I think yesterday of like I bought a $700 pen because other people can I love that cringe. Oh yeah, we should play the Wall Street song. We should play it.

uh what are we doing this one I Wall Street Wall Street Wall Street Wall Street Wall Street Wall Street Stre Street Street. There we go. That's how you bring it home. Uh, that's how we bring it home Sofi is confused Sofi Probably not the biggest fan of the Biden news.

Uh, it's green on the day right now, but selling since Market open. Definitely a worthwhile watch on the day. Um, so sh I I Don't really want to about to blow up my first prop account. Interesting.

Oh uh I I Have some funny news on Prop account stuff. but since the market is just opening, shout out to today's stream sponsor Street Beat pin to the top of chat in the description of the video. If you've watched me before, you've know I've talked about Street You know I've partnered with them for months. If this is your first time ever watching me, Hey, welcome to the show.

It's completely degenerate and if you don't like it, most likely it's not going to get better. But what is awesome is Street Beat. So even if you don't like me, if you don't like the show, it is worthwhile to talk to. Check out Street Be Pin to the top of Chat in the Des description of the video.

Streety is a Robo advisor. What does this mean? Well, it's a lot of fancy legal schmigle jargon, but you can buy and sell stock if you care about it. Just so you know, they do not accept payment for orderflow. Kickback So it's the way you would normally work on a brokerage buying and selling stock.

but with set Street be apart is they are integrated with Chat Gbt. So they have a bunch of AI trading co-pilots So AI trading systems. They have some pre-built ones such as mimicking Congress whatever Congress is buying. whatever our politicians are buying, you could be buying and whatever there's selling, you could be selling and the AI co- takes care of it for you.

On top of that, you can build your own. It's very cool. I've made many videos on it. Make sure you check it out.

Um, worthwhile if you want to check out Shpy, you can get a free 30-day trial by using these simple four letters M mat on the first page when you're signing up will get you a free 30day trial and I really really Think you're going to like it, but obviously, no harm, no foul. If it's not for you, it's not for you. But check it out. No harm, no foul.

It's not going to cost you any money to download it to get rocking with it for the first month. Another thing I Want to bring up just because this is something important that they're doing right now is they are making Partnerships with a bunch of other brokerages. So if you're like, well, I'm already funding one brokerage I don't want to go fund this Robo Advisor: They're connected with it so you could use the street beat strategies with money in another brokerage. Just want to throw that out there.

But once again, download it's on the Apple App Store it's on the Google Play Store On the very first page When you're signing up to get the free 30-day trial, just put in the code map. If you have any question, questions, comments, concerns, reach out to me. I'll do my best to answer it if I don't know the answer I'll get you connected with someone at the company just so they can actually answer it. Uh, but check it out! Shout out to Street Be for being today's stream partner.

Appreciate it And guys if you can, show them a little bit of love if you're interested in it. It is international, but it's these types of Partnerships and really like the sponsorships that, uh, allow me to do this kind of craziness. So uh Pinn to the top of chat in the description of the video free to download put in that code Matt m A Uh, where are we at? Uh Market's looking good. We didn't do this yet.

Oil hang on I Want to just see where we're at? so we're still below this very very dangerous breakdown Zone This is the Spy Yesterday we made a fresh low. Obviously, we've been making lower highs, lower lows. things not so good. Uh, from a seasonal standpoint, today is Wednesday Today is actually bullish.

If you look at the past 25 years worth of data, the spy on this day Wednesday October 4th they've the Bulls have won 73% of the time three out of four times. The profit factor is a Skyhigh 4.125 If you don't know what the profit factor of metric means, it means every dollar spent has actually returned 425. So re a net profit of$ 325 on every dollar spent. Uh, and here's a look at the equity curve of buying at Open Selling at close on the S&P 500 futures.

Market Uh, kind of didn't do much for the first 10 years, but then over the past 15 years clearly favoring the Bulls. Now is that a guarantee? God Know, obviously nothing's guaranteed in the market besides the fact that I'm going to make a buttload of money. But beyond that, everything's kind of open to interpretation if you want this. Daily seasonality, options trading updates my charts of interest if you want any metrics on how many times I've cried on in the shower in the past week.

Um, all this is free in the newsletter Mc. Locals.com It's in the description of the video, but it it's free. You don't have to pay money for this. Um, little bit of an update on all the zero DTE trades Yesterday they all hit I gave out four.

uh, a spy. Uh, this is a call Credit spread 428 by 429. Uh, a Q call Credit spread 362 x 363 another spy put credit spread 419 by 418 and then a Q put spread put spread 353 by 352. Um, they were all posted yesterday.

Throughout the day they all hit and just while I'm going over the math of it, let you watch the market open so there was four given out. You could have taken all four for $359 and then obviously if you wanted to take multiple units of it, it would just be multiples of$ 359. So that's the max risk and that's how much you would have had to take to take all four trades. The return was $41 AKA 11.4% with 100% capture rate.

Not so bad an 11% return in a singular day per the overall unit 359 and this strategy has about an 80 85% hit rate. Uh, obviously yesterday was pretty good. It went 444 thus far. in the week it is 7 out of seven.

Uh, the very first day was a 16% return. Yesterday was an 11% return. I Don't know if the signal is going to fire off today, but if it does fire off today, I'll obviously let you know. but I just want to keep you updated because I hear a lot of people within Wall Street and media saying there's no way you could be profitable trading zero DTE I Beg to differ I Very very very much beg to differ and I will.

Obviously, we. we'll keep tracking the data, we will keep tracking the data and we'll see if we can actually make a profitable zero DTE strategy. So if you're interested in Zer Dtes, Uh, just wanted to share that with all of you. Um, uh.

Streetbeat only connects to Robin Hood which is a joke. That's not true. It might. That might be true in the area that you're in, but also a lot of people are still on.

Robin Hood So uh, I agree that Robin Hood's a joke, but also like street Beat isn't Robin Hood I mean I would argue that it's better when people are going through Street Beat anyway. Anyway, so it might be a locality thing cuz remember, this is international. They have access to different ones so that a that just might be where you're at. But also it's not like it's forcing you to use.

Robin Hood There are other brokerages or you could use Street Beat itself um in in my opinion and this has nothing to do uh with what is going on. um with Streetbeat obviously. I'm my own person I don't speak for them, but I I I still think it's very much better for people to be getting off of Robin Hood So I'm I'm kind of a fan of anything that is not that. Matt sounds like he's going at 1.5 speed folks.

that's because there's my sixth espresso shot in my moon gang mug. right here this is. this is Matt at the level of caffeine that I can see sound folks I Like you saw my interpretation of the market out of the gate. Bada bing Bada Boom! 450 Really want a web platform for streetbeat? Um, they told me it's on their road map I Don't know the exact data or anything, but they are actively working on that like it is on their road map.

Uh, and they actually have a lot cooler things on the road map that no other brokerages have. No other Robo advisers have. they're They're a very, very impressive team actually. Oddly enough, I think I have to speak with the CEO today just to talk about like ideas and where things are going and just like a generic check-in So I'll I'll ask them about like what's going on and what am I allowed to tell you but I am having a meeting with the CEO and we kind of talk every like month every two months just to he he.

He's actually as an individual person. he cares so so so much about what's going on in the world of retail. Like he'll just call me, email me, message me he's like okay, like what's retail looking at right now what can we do like that's always his question is like what can we do to help retail even more that's his biggest interest and like to me it's kind of interesting because when I first signed up with them like as a partnership and agreed to the partnership deal, that's how they always pitch it. Like every company who reaches out to me they're like oh, we care so much about retail and some of the times unfortunately it's all good window dressing and by the time you start working with them, you're like okay, well all that conversation went.

If anything, when I talk with Street people it's now more. They're like okay, we noticed this in retail. What's your audience saying? Do you think they'll like this? Do you think they'll like that They just like, really, really, really care uh of giving the tools to retail traders to hopefully make them a bit more profitable in their Market Endeavors Rumble CEO for AMC AMC CEO Uh Honestly, I think Chris would do a far better job at running AMC than Rumble Honestly I am now getting biased because I don't think in my own opinion I don't think Adam Aaron's a good person and I do think Chris is a good person I wish the retail community supported Rumble way more than they support AMC Just because to me, what's going on with AMC right now is a bunch of people crying that what happened previously and also what happened with Jimmy they're trying to once again capture like in a bottle which you generally can't do. It was a Black Swan event, but what with what I see with going on with Rumble right now is kind of interesting because there is a considerable short interest and we're going into election year.

They're one of the beacons of free speech and they're actively fighting about against governments. AMC isn't fighting against anyone. The short interest isn't even that high right now like I I Don't really get the argument with AMC but I do fully understand the argument with Rumble Umble is a new company that's growing it. It's not like an established YouTube or Facebook or anything like that.

It's a growing company and it's one of the few companies who is actively fighting against other countries. This little company is fighting against countries who are attempting to stomp on people's free speech. To me personally, it's much more of a compelling argument. Maybe you agree with it, maybe you don't agree with it.

But if Reed if the average Joe investor wanted to like, morally invest in something, I I mean in my book, Rumble is much more of a compelling case than AMC It really, really is now. obviously I'm saying that invested in both, but I feel much more comfortable about my future result in Rumble than I do on AMC It's my own opinion, it's my own opinion. Uh, do what you want I'm not a financial adviser I'm letting you know right now I have money in both if Rumble goes up I Make money Rumble's currently trading at $5 my average is 950 I'm underwater I Do plan on buying more in the future here. Just want to let you guys know I want to be as transparent as I possibly can.

But I if there was a moral investment of fighting the big bad Goliath Rumble is fighting much more of a serious nefarious Goliath than AMC is like. let's just be honest. why do you recommend leaving Robin Hood Because when you're trading stock, it engages in payment for order flow. So when you're buying and sell selling, you're basically getting, um, shuttled to Citadel and you're there's.

in my opinion, very serious conflicts of interest. Now, if you're trading options, it doesn't really much matter because there's no way to trade options and avoid payment for order flow. So if you're trading options, it doesn't matter where you're doing it. you're engaging in payment for orderflow.

It doesn't matter if it's interactive brokers, it doesn't matter if it's Robin Hood doesn't matter if it's Weeble it I Don't know if Mubo even has it, but my point is, it just doesn't matter. Um, if you're trading stock, it does matter because there are ways to trade stock without engaging in payment for order flow. which is the practice of The Brokerage Selling your order flow your trades to market makers as opposed to going to a L Exchange or any other competitive venue. Um, so feel free to do like your research into that.

But for me, there's just better options when I'm trading stock than Robin Hood Once again, with uh, options, it doesn't matter. you're If you trade options, you're engaging in payment for order flow. Um, and that's just because it's a derivatives. Market There's no such thing as a lit exchange for options.

Uh, it's a completely different market. and there's a because it's a completely different Market As a completely different Market Maker: Uh, different mechanics. Completely different Market Structure A lot of people don't know this about trading options, but it's a single dealer. Market When you're trading stock, there's a theoretical chance that if you're selling I'm buying, if I'm selling, you could be buying.

We might engage with each other. When you're trading options, that's impossible. If you're buying, you're buying off a market maker. If you're selling, you're selling to a market maker.

You're not engaging with other option players. You're just dealing with other options. Uh, you're just dealing with the options Market Maker So options, it's a it's a completely different Market it's a derivative product. uh.

and I I Don't know. This is really getting into. kind of like some of the nerdy aspect of it. Uh, But my point is, if you're trading options, you are dealing with an options Market Maker There's no such thing as a lit exchange when you are trading options.

Matt Clearly you are ston. Can can you explain what you saw in the Spy this morning when you think it was going green at open? Oh Jason I would love thank you uh I Just want everyone to know I Did not pay Jason to ask this question, but it is still a phenomenal question. So what? I Saw on the market this morning? Um, to answer that question, we're going to have to probably rewind till 5:40 this morning. So my alarm there I was Pitch Black The only light that was in the room was seeping in behind the curtains of an early morning in.

New York City The Iron Jungle if you will. My alarm goes off. a very disturbing sound that makes me feel like there's probably a fire. but it's not.

It's just a very annoying iPhone alarm. And there I was and as I do every morning I get up and I think to myself I don't want to do this I don't want to do it at all I'm tired I'm groggy I'm grumpy I don't want to do this so I sit there for a couple minutes I do something so dangerous, more dangerous than anything you could possibly do I think to myself: I'm going to shut my eyes for a minute after turning off the alarm completely as in if I don't get up I'm not getting up I'm going back to sleep I don't have a safety alarm I'm basically skydiving without a parachute Folks, this is basically what I did in the morning and I think oh wow, you're really teetering on the edge here. This is what's going down and you are living with some big B brass balls alarm turned off and you're going to rest your eyes for one more minute and all I can think about is who's going to win the day, who's going to carry the logs, who's going to carry the ships. So what I do in my mind and I heard this on a video one time is I just give myself a countdown so by this point it's 5:43 in the morning, it's 5:45 in the morning and I go 5, 4, 3, 2, 1 and I get my legs off the bed and I decide to go to the gym.

You guys know me! I'm the best stair stepper on this side of the Mississippi So I go out I already have my gym clothes arranged in the morning I already have my Electro light filled drink ready to go I have everything ready to go recently I always change up what I listen to and for a bit there it was music. Then it got into sports documentaries and now I'm listening to a lot of audio books. The current Audi book I'm listening to is the Elon Musk biography by Walter Isaacson So I fire that baby up and I get to the gym. At this point it I don't care I never do my hair in the morning.

there's only like two other Hardcore gym people there I look like a mess I look like a a crazy person I stretch out the sides of my hips because I think having this sitting desk lifestyle way too much is really messing up the muscles in my legs. but whatever, that's a side point. So I do some weird hip stretches and then I get on the stair stepper. At this point I've consumed half my electrolyte drink cuz I don't want to lose my vision I think I have a weird issue metabolically where I either don't store electrolytes or I have too many many whatever it is if I do a hard cardio workout without having electrolytes I literally lose my vision.

it turns into a migraine and I end up vomiting. It really plag my life growing up until the age of the 10. I would like puke every single two weeks after having a serious migraine and losing my vision. they tested me for diabetes I don't have it, but my blood sugar would spike I don't know that.

That's a side point that really has nothing to do with this story, but that's why I care a lot about drinking electrolytes before I do cardio workouts and during cardio workouts. so there I am and at this point I know all the classes for stair stepping. It's not just me on the stair stepper. like going for a certain amount of time, certain amount of floors.

there's actually classes and I know the hard ones I know the easy ones and I'm looking at it you I was like you know what you were a little this morning when you were getting up a straight up and that's problematic. Maybe some of you wake up in the morning and you're like I'm being a today and it's normal and that's fine. The issue here is if you call my mom mama of course and you ask her, she will inform you that she in fact raise no so I'm I'm just sitting there in the morning I'm groggy hair, messed up, electrolytes starting to course through my body and I'm looking at the array of classes and it was at that moment that I had to understand what kind of a Dave is is it going to be? what kind of day is this going to be and I thought to myself, did Mama Kors raise a The answer was obviously no. So I went right down to which I know is one of the more difficult classes.

so I crush it 33 minutes later I'm drenched in sweat I effectively ran up the side of Everest with a dumbbell backpack on of hundreds of pounds I don't know I'm not really in tune with the current levels of gravity, but all you need to know is I was basically carrying an entire ship potentially the size of the Titanic I don't know Folks up the side of a mountain while listening to Elon Musk and I don't know I'm like a portion of the way through the book I don't know what portion but I'm listening to the story of this guy who basically whenever the moment came, he doubled down and after he got done doubling down, he tripled down. When he got done tripling down, he quadrupled down so effectively he always just put his balls on the table and I like that I was listening to it as I'm working I'm like oh dude, this is something that you need to employ. Get down with the stair stepper, go outside. uh I Huberman podcast he something about it's good to get sunlight in the morning I don't know if it's real I don't know if it's not real but I go out there's a Brisk New York air on the rooftop I'm thinking to myself, what are you doing with your life Matt What are you doing day in and day out with the Matt Cor show with the community I'm like you know what this needs.

You need to have more balls just like Elon When the moment arises, you need to put your balls on the table and even if your balls are on the table and you win, then you have to put four balls on the table. And if you win four balls now you have to put eight balls on the table. You see the math here very quickly. It exponentially grows of how many balls yours and other people's you're putting on the table table.

Fast forward to the show. back directly to your question. Jason I Didn't forget it because this is all what led me to the decision Market was about to open I planned on posting the trade at 929 a minute before the equities Market officially opens I was trading on the the stock market and as you could tell, I was 2 minutes late I didn't place the trade till 9:31 because we were going over other important stories that I thought everyone should listen to and right when I switched back being a mere 120 seconds late I'm not color blind which means I can successfully see red and green. The most recent two one minute bars 929 9:30 were both green and I thought to myself Matt this is your opportunity to once again double triple quadruple down.

If we had a green bar followed by a green bar, why not have another green bar and as video evidence will suggest, you saw me do that I saw green I saw green and I thought to myself more green so I hit by I hit by huge amount. little gain ended up being $450 How did it happen? That's it folks. that's it folks. I saw some green and I thought to myself more green and this is the kind of skill set you can develop as well.

If you just ENT The Matrix you just you just have to understand the market as well as I Do I understand the market better than I understand myself why do I cry in the shower I Have no idea but where's the market going to go next? I Could tell you an explicit detail one of these days. Jason it's going to add up in your mind when you really uncover my Memoir When you really get deep into the cult that is Coes of being a goon, it'll add up. It'll add up Don't You Worry Jason So that's why I felt good about going long this morning. You clearly don't understand your stream.

Probably not never. Hey, it's worked out for me thus far. Matt Have you become the market I Like to think about it as has the market become me, you know. I'm not afraid to ask the serious questions here.

Not afraid to ask the serious questions of who is and who isn't the market. How much money do someone need to trade? Thank you? Uh, I wouldn't focus on that I would focus on something that's a little bit more invaluable such as friendship Mario Mario Phoh I Believe that's how you would pronounce your name. If not, it'll probably come off as racist. but if I nailed it, it sounds like I'm very culturally in tune.

So highrisk High Reward which is life. But my answer to you is: don't focus on money, focus on something a lot more valuable. How's your friendship? How's your relationship with your parents? H Do you have a kitten in your life? Do you have a cat in your life? How's your relationship with your cat? I Would focus a lot more on that and the money will follow. I I Really think I think that's probably the best advice I could give you at this point ex.

essential question: What is the market and what is a matap? Thanks guys for coming to my TED talk. Thank you for coming to my TED Talk Tesla Actually looking pretty solid this morning. How's rum looking dude? Rum's gaining a bit. rum's getting some green Tessa's up there.

met is the one well besides oil. oil is getting hit this morning so XLE probably getting dump. Oh trying to make a recovery. Uh, bring the market to the mat.

What happens if you blow up your prop account? Do you just have to pass a combine again? Or are you frozen for a period of time? Oh you just have to pass it again like they are more than happy to let you take the test again because obviously they are more than happy to take your payment to take the test. Um easy peasy lemon squeezies I Feel like we're forgetting some stuff that like I really meant to go over. uh another strike? Uh I believe this is more in the world of Health Care Health Facilities I think it's a big hospital Kaiser Permanente Day more than 75,000 workers to strike at hundreds of Kaiser Permanent day Health Facilities across the US Uh so another strike adding to the list of growing amount of strikes? Uh, we already talked about this. Wednesday 220 PM ET That's today.

Uh, our phones are going to be making a bunch of noise. It's going to be annoying. Uh, we don't need that anymore. Something is breaking the financial markets.

Here's what's behind the selloff. rates are expected to stay higher for longer and idea Fed officials have tried to get the market to accept and which investors are only now beginning to absorb. I Feel like we all absorb that. What's going on with the markets? Getting used to a more typical rate structure doesn't sound like such a terrible thing, but after 15 years of living in an unnaturally low rate regime, normal sounds? well, abnormal.

All of this has to be assimilated and digested by the market. You can see that it's troubling and it's difficult. Uh I mean in the grand scheme of things, our rates are actually still pretty low I Mean at one point back in the early 80s, the FED fund rate was like 20% and we're at 5.25 But as that article brought up, it's more of our recency bias and anchoring to how things have been. When for a bit there we were at literally zero.

Like it, it was an money was cheap uh, but not So Much Anymore Are there any other? So the ADP job report did come out this morning. Uh, they were expecting uh 153. came in at 89. So once again, we live in the upside down world of bad economic reports.

Well, that might Force the FED to be a bit more doish which pushes the market up. Uh, the opposite happened yesterday. uh 9:45 All right one minute. Well, this comes out at 10.

So we're getting more PMI numbers and uh ISM non man non-manufacturing prices. So prices PMI coming out at 10 and then at 10:30 we're getting crude oil inventories. So we do have a couple more reports. Let's see if our boy Rickon Tell is going to be reporting it.

Best Guy in mainstream Financial media if you ask me. Uh, so obviously little bit of craziness just between 945. Well, really 8:15 this morning, an hour and 15 minutes before the market open. Another report at 9:45 We have more reports coming out at 10:00 and then we have more reports.

Well, the crude oil inventory comes out at 10:30 So uh, there's going to be some movement today. Going to be some movement today, Are we? let's do this thing. Rick give us the answers. Uh, it's almost 10:00 a.m.

Which also means we might have some zero DTE trades to talk about. or I could stop the zero DTE trades for the week and just be perfect. 7 out of 7, 100% but that's that. Doesn't sound fun.

That doesn't sound like you're doubling, quadrupling, quintupling down if you ask me. If you ask me, that sounds like the easy way out and no one wants the easy way out. Obviously that's boring. That is beyond boring.

Uh I have the CNBC audio on. they're just not doing anything yet. Uh, the fourth. I'm just getting prepped to post the Zer DT trade as quickly as I can.

If it comes, you might like the signal. awesome if you do feel free to take it, if you don't feel free to trade against it, or if it's just not your cup of tea, don't worry about it at all. Uh, do whatever you want I'm not your mom. Do whatever you want, right? How do we get this one market taking a bit of a hit.

Rut row is the whole Biden thing. just not enough to keep the markets going. Today it seemed like we might get a little bit of a relief, but that was not consumed by the market well at all. in fact.

spy taking a quick dip there. But let's check in on the options. Market I Think it is worthwhile to note uh that yesterday? Oops, this isn't right. The options Market was actually a little bit more bullish which I thought just was of note of note.

October 4th today is yes October 4th great. Did that get. Did that? Did that All right? All right, All right. All right.

All right. All right. All right. the spies is a little bit closer to making a fresh low from open then.

uh, the Q's holding up a little bit stronger Tech Sector A Little Bit Stronger The Q's flirting flirting with this potential breakdown and just did. Dude. All right. All All right.

All right. All right. Uh, where are we at? Let me post. uh, an idea.

a little bit of that. Zer DTE stuff. Let me get the most recent numbers though. I Just want to get a solid estimate.

Uh, we do this. 452 45, 23, Uh, So 202, 78 All right. one of the zero DTS is just posted right now. uh, related to the Spy You know what? because I'm feeling like a nice guy just because I'm feeling like a nice guy I'll give you one of them.

So the trade that was just posted locals uh, which you can get with the premium thing uh is a call Credit Spread 424 spread by 425. So let me explain what this actually means. Let me let me just explain what this actually means. Maybe it's better to do it over here.

Spy, Spy Spy Spy Spy Okay, we could all agree that this is the Spy tracking the S&P 500. So this is a call Credit spread which is also uh, it's known as a vertical. So what you would do when you're talking about a call Credit Spread: You would sell the number that's closer to the current price. So in this case it's 424 spread by 425.

So you would sell the 424 which is currently trading at 42 cents 43 cents. So because you're selling it You' be credited that amount and then to protect yourself and make it a vertical credit spread, you would sell the 425 which is currently or you would buy the 425 which is currently trading at 22. So basically there's a little bit more than a 20 C difference. which means you're going to get a little bit more than $20 in net credit so you are credited, not debited.

When you buy a call or buy a put, you are debited to create that. In this scenario, it's a call Credit spread. So you're credited to create this situation. You are a net premium seller, so you would sell the 424, you would sell the 425.

So let's talk about how this could potentially end. It's zero DT Like expiring today. So we get to the end of the day, the Bell goes dingy ding ding ding. How could this play out? Couple things could happen.

It could just be super skyh high way all the way up here and you blow out. So that would be your max loss and your max loss is limited. Once again, your max loss is limited. It's the difference between the strikes 425 minus 424 a dollar.

but then you would also a dollar minus your net. Credit In this case, we'll call it whatever. 20 cent. So you're risking A1 minus .2 so 1 -28 But obviously you're talking about options so everything's multiplied by 100.

so you're not risking 80 cents, you're risking $80 That's your Ma Max risk. And that happens if the market ends really really high. Now your max gain would be if we end below 424. It doesn't matter if it's $ 4239 or it doesn't matter if it's 400 or 300.

If you're below 424, that's your max gain of that credit you receive. So your max gain in this sense is just over 20 cents A AKA over $20 So your max risk just to review is the difference between the spread $ 425 to 424. a dollar multiply by 100 100 and then you would take off your Mac your credit that you receed. We'll call it 20, but it's just over 20.

So your risking $80 to get $20 and you get that $20 if it expire. If we get to the end of the day and it we're below $424 it doesn't matter if it's by a cent or by many many dollars if we're below 424 you that's when you receive your max credit. Now the only other scenario is like what if it's somewhere in this range and that's where you figure out your your break even point of where it would be net net. You don't gain anything, you don't lose anything.

that would be the bottom strike 424, the one that you ended up selling and you would just add on your the premium you receive. So in this case it'd be 424 plus the 02 the credit you received. So it be 42420. So 42420 is your break.

Even below 424 is your max gain and above 42420 would be your max loss of 80. Now obviously you're risking more than you're looking to receive in this scenario 80 versus 20. So then it comes to like a game of odds of what's the chance of this happening. Based on my back testing, this trade should hit about 85 is% of the time.

It depends on the day, it depends on the news, it depends on various other things. But when we're looking at the overall Market Obviously you could get the odds differently for Apple Tesla Nvidia The Q's like they all differ a little bit, but it's in the realm of 80 to 85% accuracy. So basically what you're saying is I think the market will clos