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What the duck happened today? – Matt Kohrs

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What The DUCK Happened Today?
Taxes are (most likely) going up... don't panic
Bloomberg Article: https://www.bloomberg.com/news/articles/2021-04-22/biden-to-propose-capital-gains-tax-as-high-as-43-4-for-wealthy
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Video Topics:
gamestop, gamestop stock, gme, gamestop short squeeze, gamestop stock explained, gamestop explained, amc, amc stock, amc stock prediction, amc live, amc stock live, amc short squeeze, amc squeeze, amc price prediction, gme stock live, gme stock prediction, gme stock analysis, gme stock explained, gme stock short squeeze, gme stock news, tesla, tesla stock prediction, tesla stock analysis, tesla stock today, matt kohrs, matt kors, stocks, stock market, investing, trey trades

Moon gang: what in the world happened in the stock market today? Well, to put it simply taxes to be more specific, a tax increase now before we get into this video. Please remember that i am in no way a political commentator. I talk about stocks and sometimes the political arena and the stock market do overlap. Don't take me covering the news to be some sort of expression of my own political opinions, and i am certainly in no way telling you what your political opinion should be all right.

So now, let's hop into it so on the screen. Now is the s p. 500. The s p 500 is an etf, which is a fancy way to say, exchange traded fun.

Basically, the best way you can think of it is a basket that tracks 500 of the biggest companies within the united states so because of that, it's considered to be a good barometer for the overall stock market. Well, around 1 pm today it was announced that the current president is planning on. He is going to have a proposal that does increase taxes, and you could see the impact it does look more severe than it actually is, and i'm going to touch on that. This is in no way a stock market crash, i'm in no way calling for doomsday, and i think that the graphs i can show you will make you feel a little bit more comfortable because i'm sure you've been reading some pretty crazy headlines today.

My goal in this is to explain what happened and in all eventualities how it's really not that bad in terms of where we are in the overall picture of the stock market. So anyway, around 1 pm it was announced about a potential tax rate increase and the stock market dropped from around 416.78 all the way down to 411.. So if you do a quick math on that, that's about 1.5, so this does look more severe than it is. It was about a one and a half percent drop and then from there we had a balance and closed out the day at 412..

So this is the best summary of what i could find if you just need a quick takeaway from this video right here. This is from walter bloomberg on twitter biden will propose raising marginal income tax rate to 39.6 from 37, which is obviously just a 2.6 percent increase, but that is for marginal income. The bigger thing that i think more people are talking about is biden will also propose nearly doubling taxes on capital gains to 39.6 percent from people or people who are earning more than 1 million dollars. That's a quick takeaway for those of you who want more a bit more detail.

I would recommend checking out this article on bloomberg. I will make sure to link it in the description below just if you need all those details, but i just i quickly highlighted the key takeaways biden, eyeing tax rate as high as 43.4 percent. In next economic package, people earning 1 million will pay 39.6 plus obamacare levy. Total tax rates for new yorkers and californians could top 50 percent.

I don't live in new york or california, but for those of you who do if this goes out, i feel for you, president joe biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6 percent to help pay for a raft of social Spending that addresses long-standing inequality for those earning 1 million or more. This means that the federal tax rates for wealthy investors could be as high as 43.4 percent. The new marginal 39.6 rate would be an increase from the current base rate of 20. There is more details in here.

I implore you to read this. Please do your own due diligence, please feel free to fact check me, i'm just trying to present. What's going on and more importantly, uh. Yes, increased taxes.

It makes sense that especially these wealthy individuals, a lot of these people are the people who really kind of control the stock market. They have a lot of money in the market, so when they see tax rates this high, it becomes kind of a risk-off environment of like right there like when you also increase taxes. It's now all like. Do you with an increase in taxes? Do you also want to take the extra risk of just the overall stock market so right there that obviously scared some people away and that's what caused the stock market to drop? I know this looks severe, but the one thing i want to point out to you is first of all, from the start of 2021.

Until now, the s p 500 is still up 10, usually year over year. We do expect the stock market to gain seven percent. That's a big average that a lot of us point to seven to eight percent right now, we're already up above that we're up 10. This.

This isn't a doomsday. Some people talk about bear markets, the i guess statistical measure for bear market is when we drop 20 from that high, so we're not even close to that. The all-time high happened a couple days ago, literally as recent as april 16th. Just so you know, i am filming this on april 22nd, so my point is not that long ago we already hit an all-time high, like literally the market has never been this high, so whenever's talking about doomsday stock market crashing.

I would argue i i just don't see it we're not that far off at the literal all-time high. That was four. Let's just call it 418 right now we're trading at 412.. We haven't come down that much roughly, you know.

Actually, we could get the exact number for you uh, so from that all-time high, we're down 1.35 percent, it's okay, um, and if you want to feel better about it, let's just zoom out when in doubt zoom out. So if we look at this so on the screen now is basically the low from march of 2020 until now the stock market, because of many things uh that could be literally a whole nother video. But my point is look at how much we've come uh. We bounced off of 219 all the way up to 417..

It's just been up up up, i mean from this low until where we are now we're up 79.93 percent. I think it's okay for us to take a one, two percent dip. Of course, i don't know this could become something bigger. I just don't think it will um so anything out there like just don't let your emotions drive your investing decisions right now, if you're seeing a little bit of a red day in the market, we drop point.

Nine percent from open to close, don't let this the fear of like oh, my god, it's crashing it just hasn't happened. Yet we're not seeing that in the market, i'm just trying to make. You feel a little bit better and i'm trying to point out the stats. The facts here the market's been on an incredible rally from march of 2020 until now, honestly, even without this tax rate increase announcement.

If we look at the rsi here that stands for relative strength index, which maps out it just maps out bullish to bearish momentum, it has values of zero to 100. Typically, if something's over 70, it's considered to be very very bullish, also considered to be overbought below 30 is considered to be very bearish, also considered to be oversold. So even without this announcement look at that, we were over 70.. It was already considered to be overbought, which means like there was a good statistical chance of a healthy reversion.

I said healthy, very intentionally because the stock market - it doesn't always just go up. Yes, you should expect healthy corrections and, honestly, i thought we were already due for one without this news and i think, if anything, this news is just going to kind of prompt that, like a little bit of a healthy traction, a healthy retraction potentially to one of These support levels - i have mapped out 410 below that we have 405. Of course 400 is the key psychological level. So that's what i'm personally watching 410 405 400 below 400.

If we break below that yeah, there might be a little bit for a bit of a concern, but i'm in still in no way calling for a doomsday or anything like that, because the stock market has absolutely been on fire from march of 2020. All the way up until now, so don't let these big announcements like fool you for anything yeah. This will hit the market um people. They don't want to pay higher taxes.

They will pull money out of the stock market. It's a natural reaction but uh. My point in making this is just trying to express that it's not as bad as some of these headlines will make it to seem to believe. But who knows, these are my own opinions, i'm in no way financial advisor.

I would love to get your thoughts in a comment below. Do you think that this isn't somehow doomsday? Personally, i'm not on board with that? I don't think that the stock market is craption crashing, but i maybe i'm getting it wrong. I would love to know your thoughts in a comment below if you enjoyed this video, i would appreciate it if you could drop a like. Also, if you want to leave a comment, all that stuff does help with uh help me out with the youtube algorithm.

If you want to join up with the moon gang, all you have to do is hit that subscribe button, and, if you want to miss any of the new pieces of content, go over that bell, icon click on it and switch it to always until i catch You next time from me, duck shirt and chair best of luck in the markets. You.

24 thoughts on “What the duck happened today?”
  1. Avataaar/Circle Created with python_avatars SCOD says:

    Wealth inequality is at an all time high. The rich have not been richer since before WW2, so yeah it is long over due that they start to pay more taxes AGAIN.

  2. Avataaar/Circle Created with python_avatars Kim-bee V says:

    I mean wouldnt pulling out of the stock market still get taxed the same when it's enacted? lmao if it's passed in 2021 regardless if you sold in the beginning of the year middle or at the end of the year you get taxed the same..? And also if you were longing a position why would you pull out of your position you instantly get smacked with a short term capital gain then

  3. Avataaar/Circle Created with python_avatars Benjamin Frizzle says:

    The tax is not new news,. it was announced as far back as 2019. Also, it wouldnt take effect until 2022 anyways so it wouldnt even effect Capital gains this year. you cant tell me somethings fishy about the media reporting that as an excuse

  4. Avataaar/Circle Created with python_avatars Maximum Gumby says:

    When AMC and GME moon there will be a LOT of people making over a million……..

  5. Avataaar/Circle Created with python_avatars Kevin M says:

    Biden and his puppet masters is what happened…the government is straight up manipulating the market. Those checks weren't free.

  6. Avataaar/Circle Created with python_avatars Howler says:

    it was a sell the news. The market was RED AF just a few days ago, also. I think we have a combo of sell the news + "Shit is brewing"/hedgies selling
    Edit: Also consider that they are shorting ETFs that contain AMC – thus they are dropping all stocks contained within the ETF

  7. Avataaar/Circle Created with python_avatars Soccerboss792 says:

    All apes just need to all invest in one stock. We are too spread out whether it’s doge, amc, gme, planantir, or others. They can’t all squeeze. Gotta start with one

  8. Avataaar/Circle Created with python_avatars jeremy Seymour says:

    Just don't pass this idiotic "bill" Congress!!!! No way this can happen. This old man has been in office 3 mos and he's basically on path to crush our country-financially and otherwise. I knew this was going to happen!! But thanks so much Matt for all you do on a daily basis. Watch you every day although I am no longer an AMC or GME holder. Hopefully 1) The bill won't pass 2) If it does we'll be able to adjust. Thank goodness the bulk of my BTC and ETH is in an IRA so at least for me the whole point is moot. Once I take out my cryp profits I'll pay tax at my marginal tax rate which by then I hope is way lower than 43%..

  9. Avataaar/Circle Created with python_avatars Hodgy says:

    Matt: This could become something bigger, I just don’t think it will…

    Also Matt: SPY Puts

  10. Avataaar/Circle Created with python_avatars The Real Ken Griffin says:

    Listen Matt,
    I've been watching you since the early squeez days but you are way off the mark. I heard you reason marketwatch and cnbc articles today as of they're credible in anyway. First of all, laws don't just go into place when the president reannounces plans to tax the rich he's had since campaign. You citing those sources is highly marketwatch is owned by shitadel and has been caught releasing gme news (always bad) before it even happens.

    You think the rich didn't know this was coming?

    It's clear and given the crypto sell off right now, that hfs are liquidating to cover.. the idea it's because of news is smoke and mirrors

  11. Avataaar/Circle Created with python_avatars Mike S says:

    Hedgefunds trying to scare apes, apes just buy more. Increased by another 183 shares today!

  12. Avataaar/Circle Created with python_avatars Carlos Rodríguez says:

    Omg I'm panicking … I just bought some more to calm myself lol.

  13. Avataaar/Circle Created with python_avatars Shane Rudy says:

    It’s not because of the taxes…. that’s not going to happen until next year. It’s because the hedge funds are trying to cover shorts on amc. Amc is the highest shorted stock rn. There’s no more shares to borrow so they borrowed 2.5M etfs that had some amc in them to short amc just enough to not get screwed with those etfs came along a bunch of other stocks. When they shorted all the etfs the other shares in the etfs took a hit too. Thats why every thing dropped on a dime the same way. The Biden news was specifically to scare amc holders to sell because amc is crushing the hedge funds right now and they will do anything they can to not lose. This is the real news not because of Biden saying something about taxes for the future

  14. Avataaar/Circle Created with python_avatars Karlo Valerio says:

    For better or worse, every time I see red now, I think everything is on super sale, and then I get sad that I don't have the cash to buy some more.

  15. Avataaar/Circle Created with python_avatars Anim8or55 says:

    Only thing that happened was another day to buy some shares before the squeeze.

  16. Avataaar/Circle Created with python_avatars Dan K says:

    First time leaving a comment.
    Matt, you’re spot on and I always appreciate your insights.

  17. Avataaar/Circle Created with python_avatars Matthew Rice says:

    @Transparency Project.: let me be Mini Transparency Project? Maybe TALK MATT INTO ME BEING A MOD!!!!!!!!!!!!!!!!!!!!!

  18. Avataaar/Circle Created with python_avatars Clement Burgess-Hulme says:

    All three indices don't drop off a cliff simultaneously because of a dude eyeballing the idea of taxes already proposed months ago, that would take effect next year.

    Someone got liquidated

  19. Avataaar/Circle Created with python_avatars Jorge Bustamante says:

    It was a great day.. until it was just another day. Doesn't matter, still holding.

  20. Avataaar/Circle Created with python_avatars Gerry Taylor says:

    Democrats all they do is tax . I didn’t vote for this fool. Just saying

  21. Avataaar/Circle Created with python_avatars Einstein69 says:

    Matt, no more goofy faces in your thumbnails. Please, be different.

  22. Avataaar/Circle Created with python_avatars 000 111 says:

    I measure my net work and tax exposure in Ducks and Duck Accessories. 🦆🦆

  23. Avataaar/Circle Created with python_avatars Alexis Anttila says:

    Dropped a like just for the shocked thumbnail photo 👍 thanks for the educational content!

  24. Avataaar/Circle Created with python_avatars Patrick Milner says:

    Thanks MK

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