Elon Musk Sells TSLA Shares

PreMarket Prep

Episode Summary:

• Elon Musk Sells TSLA Shares
• DIS Earnings
• SOFI Earnings
• BYND Earnings
• AFRM Earnings

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Guests:

Marc Chaikin, Founder of Chaikin Analytics

Twitter: https://twitter.com/marcchaikin

Meet The Hosts:

Dennis Dick

Twitter:https://twitter.com/TripleDTrader

Spencer Israel

Twitter: https://twitter.com/sjisrael

Joel Elconin

Twitter: https://twitter.com/Spus

https://www.premarketprep.com/

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

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Unedited Transcript:

Good morning, everybody happy Thursday, first things first, before we actually start the show, just want to say happy veteran's day to all the veterans out there, uh, in the U S and Hey, even otherwise for that matter. Uh, thank you for your service. And now let's start. Today's show

coming to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn. And this is a Val tile puppy here. Isn't it. And Dennis stick, I've been the petty. I will buy the stock for a pen, which everything that you need to start your trading day

All right. All right. All right. Good morning, everybody. How are we doing yesterday? May well have been Spencer's portfolio reports earnings day. Cause we got Disney reporting. We got so fire reporting. What's talking about that. We got a firm we got to talk about beyond me. Uh, there are so many big movers up, big movers down as I go into my movers, told him Benzinga pro fossil group for some reason I'm 35% today, but we got to talk about open door.

Right? We've got to talk about, uh, we, we should probably hit on the big IPO from yesterday. Vivian, we'll talk about that. Uh, once we will start the show by talking about Tesla, I would imagine, um, Ilan did what he said he was gonna do. He sold a lot of shares. Uh, this week, Monday, Tuesday, and Wednesday. Uh, those filings all hit after hours last night.

We'll talk about them. What they mean, what they don't mean and maybe what will come. Down the road from Ilan, but first let's bring on. Oh. And also before I bring on Joel, our two guests today, mark shaken. It's been a while since we've spoken to mark and mark will be on the show at eight 15 today, and then Peter Tuckman, the Einstein of wall street on the show at nine.

But first let's bring on Joyal Connie and his charts. Joel. Good morning. How are, how are we doing today? I got a new nickname for you. Oh gosh. Yes, no. Yes. Chipper. Okay. Yeah. Cause you're only so chipper now I, in the morning you're like, oh yes. And it's like, I'm only excited on the days when there was a lot to talk about on the days when there's not a lot to talk about, I'm not excited.

You know what lately. There's been a lot to talk about. Let's bring up the charts here. We're up 60 in a quarter handles by the dip works for the 47,000 time up 16 and a half handles 58 50 pre-market high 61 50. Uh, let's just see. Let's see if we take out that pre-market high and get back up to the close.

Uh, the two day close at 78 and a quarter, a cruise on its heels. A little bit down 45 cents at 80 88 gold in the green by 12 30, 18 60 and a half. Serving the green to 21 cents. Knocking on the door 25 Bitcoin, the old make a new high and go down trick. That's down 6 45 and 65,430. And theory of futures are going the opposite way.

You ARBs got to get this right up $81 and 25 cents at 47 31. Eden and let's bring in the best dressed man on wall street. Yes. I even changed my shirt. I was going to go for the third three days in a row, but Spencer advised me that I shouldn't wear the Benzinga shirt for the third day in a row here. So I went blue for you, Joel.

And you know what I did last night. What'd you do for the first time? Since February of 2020, you went through Michigan basketball game. Exactly. Yup. Yup. And they won. They look okay. No, they didn't look good. Come on. They didn't look good. I watched a little bit. They don't, you don't need to look good against the Buffalo Bisons.

Did you see how many players he put in there? He rotated a lot by the time I would say 87 and a half percent people were, were wearing mass and it was fun. It was fun. So yeah, back to the first indoor sporting event, when I'm going to a concert. But a lot of singing going on at concerts, a lot of shouting at matches, a lot of stuff.

I don't know, what's worse singing or shouting. So I'm not going to hear those things. Are you getting killed on anything today? Ah, you know what, actually, no, it's just like the first day, this week that I'm not slaughtered on something. So I'm sure the longterm portfolio I'm slaughtered on something.

There's a lot of stocks moving down 30%. I probably have one or two of them, although I don't have the Disney and I called that one out. So we should start with that. I tweeted out right before three minutes before I was like, I was nervous about this report and I was worried, you know, I've been there nervous and it's talking about it.

The duty to start with you on, please. No,

we didn't read. We got to look and read the right thing. It's right on the screen right now. It says, follow the script. We didn't look, we jumped right over Ilan. Cause we talked to you on forever. I got sick of talking and we were talking at the pre pre-market show when we were prepping it. So I kind of thought we already talked about it, but we had talked about on the air.

So let's go Ilan south. Yay. So yes, Monday here. Here's the timeline of events Monday, you know, mock exercise, a little over 2 million stock options, uh, sold about half of those on Monday, Tuesday, and Wednesday sold another 3.5 million shares. Uh, those. Sales were worth around $3.9 billion. So in all he sold a little less than a $5 billion worth of stock over the last three days.

Now, some of those sales were pre-planned. It says it in the final thing. And I can actually share my screen and show you the show us where to get this, these numbers because of your subscriber. Benzinga pro. And a lot of our listeners are show us how to, so I'm on like the Benzinger pro home screen right now.

I'll go full screen here. I'm on like the Benzinger pro home screen. This is the default screen for everybody. I went to newsfeed. You had a newsfeed, you change your sources, or I've got been single wire. I'm going to uncheck that. And I'm going to check S. Okay, Don, these are all your sec filings. And then I don't, I don't care about XR, TX or lucid this morning, but I do care about Tessa.

So I just search for Tesla here on the top. There TSLA. Oh,

And so the first one you will notice here came out at 6:24 PM. Last one I tweeted, right. This was the one that showed him, exercising his options. Uh, and you can see here, if you scroll down, it'll show you, uh, uh, you know, all the transactions. These are from Monday, right? These are all transactions from Monday.

Um, part of that original option options, expiration, uh, no, not exploration, um, exercise. Thank you. Um, and, and yeah, so, and these were pre-planned the, the, cause it says it right there, right? Boom rule 10 . Preplanned sale. That's what that means. I look when I was adopted, look when it was adopted September 14th.

Yep. Boom. Right. So, so I just, you know, and, and obviously, you know, we've got a lot of people on Twitter saying the same thing was he put up this poll last weekend while after September 14th, should I sell my Tesla holdings when he already had the plan in place to sell the poll in itself was just BS.

Basically. It was for fun. It was for fun. So I, he already had the plan in place. Maybe if the poll was negative, we would have pulled the plan. Maybe that's the case. But the plan was well before that Twitter poll came out. How many shares was at, do we know the aggregate for today? Uh, yeah. For all the days to, uh, yeah, we're what two, a little over 2 million shares.

And that was on a Tuesday. No, no, this is Monday. Ooh. I haven't even gotten to Tuesday or Wednesday yet. Oh, there were 33 million traded that day. So if you got a piece for 2 million, that that's a decent chunk of the volume, so that was Monday. And then you go to all the rest of these filings. This is, this is all Tuesday and Wednesday, right.

And these were not planned. These were not part of the 10 B one filing. Okay, let me get rid of that there. So, um, again, uh, uh, about three and a half million shares, uh, sold between Tuesday and Wednesday. For about $3.9 billion worth of, uh, shares. And so now the question is for first off, and this is what Joel was saying, uh, Elan is well within his right to do this.

It's the only notable cause the guy literally never sells. Right. He hasn't sold. I think in like five years, I watched the filings closely. I never see Musk drop a filing. He cause he never sells so here, but here's the deal. So how many shares have been sold total? Like in the last three days that we know of from the sec filings, um, do you have that number over 4 million?

So 4 million shares he owns and he can see in his trust he still owns 166 million shares there at the bottom of that's the last one. Yep. So, and it was 171 I believe. So you're right over for a million shares. But if he says he wanted to sell from the Twitter poll, he says, should I sell 10% of my whole.

That's not 4 million shares. That's 17 million shares. So there could be another 13 still to go. If he is indeed going to sell 10% of the holdings. So this is not 10% of the holdings. This is about 2% of his holdings. So there could be another 10% to go. So just, you know, being careful here because the stock is repping thinking, he's done, it's up 27 points thinking he's done full disclosure.

I do have a small position on Tesla. It's really minor. I should just cover it so I can freely talk about it. Um, but cause it's just the leftover odd lot actually. Okay. Okay. I've covered my Tesla due diligence. So I just, I, it was literally, it was a little piece of an odd lot. I didn't even realize I still had, so I had shorted this, you know, last night after it popped 30 bucks.

Cause I thought this was stupid that it was popping $30. It hasn't come yet. So, I don't know. Maybe it will come in. Um, I just want to be able to talk about it while I reinitiate the short on Tesla. Maybe I don't get it. I don't get why it's up 28 points. I don't get something off and do take a position on it.

So I don't know what to say. I don't understand. So now I'm flat Tesla. Um, so now I'm going to freely talk about, I don't understand. I don't understand why it's up 28 points when he's only done 20% of the sales he was going to do. Does everybody think he's done? Is that the reason I'm asking you guys?

Yeah, I, I don't. I also don't know if it wasn't, uh, if it, I mean, doing the simple math and it's uh, no, if he's going to go and he said, w would abide by that pole. That means he's still got about 13 million shares to sell. So that means he might be selling today. He might be selling the next day. He might be selling the next day.

I mean, it's taken him three days to get rid of 4 million. So if he's got another 13 million ago, he could be doing this for another week. So I don't totally get why we are rallying here. Um, but it's up, it's up 27 points. I may reinitiate the shirt again after the show. We'll see. I don't totally understand it.

Uh, but you know, when I don't understand something, maybe it shouldn't be trading it either. So yeah, I, it ripped and roared after the filings because everybody maybe thinks they're done. But when you do the math on. I don't think he's done selling chat. Chad says they agree with you. I think, I think there's more filings to come and, you know, what's popping up.

My sales could put pressure on the stock. So I think the 27 points here as a gift, to be honest. So I ha I haven't had time to drill down on my levels yet, but, uh, I do have one, one level in mind, uh, that I'll discuss with Ilan later on, uh, moving forward. But, uh, it's a nice bounce. Got to 1120 that you pre-market high.

Uh, the volume was pretty big yesterday. Uh, dipped under a thousand was bought. I would, you know, if I was still on this and I was like taking the whole Ilan factor. I wouldn't want to see you go read today. I'd let you know, 10, 10 67 95. I'd be like, man. I said an out those two days, and now it's getting the bounce.

I don't want to be, you know, at what about 1100 now? Um, you know, is that, is, could that be a level like institutions that are longer zillion shares? They're not gonna say, you know, they don't have to file it, but they'll say, wow, man, I miss 1200. Maybe it'd be good to peel out of a couple million at 1100.

There's no direct level there, but you know, if it gets to 11, 10, they hit Samba 10 90, it hits some. So he might not be the only one selling out there. But, uh, th that, that close is pretty important. 10 67, 50% retracement of the full move, 1243. Down to 9 11, 15, 11, 15. That's the one I texted you. Okay. So 1115.

And that's where we struggled here in the pre-market here as well. So, you know, obviously we got to 1120, it looks like at four o'clock in the morning and everybody got so excited, so excited. Oh, Elon Musk has done something. I better buy, let's do the math. The math says he's not done. So the math says, I don't want to be long.

And yet if he's not done, I put it. We put a poll on the chat 82% and say, no, we don't think we may have slightly influenced that poll because we just said, we think he's not done. And then we did a poll, but I don't think he's done. We don't know. Maybe he has done. Maybe, maybe the filings are still to come maybe already solely, you know, it's a good point.

You know, it's up to, you know, I may have sold more Tuesday and Wednesday that we haven't seen yet, but I think he still got more. I don't think he's got this all done here in the matter. I mean, it's such a battle. I mean, man, the guy built a company, but the stock people should just like, forget about it. I mean, if you're allowed to stop, well, I don't care.

I'm not saying he's doing anything wrong. Although when he put out that poll and it was, he had a pre-planned sales already in place, it's kind of a little bit stupid, interesting to say the least, but he can do what he wants. I have no problem with them selling stock. He's held the stock forever. So sure.

I have no problem with that at all. I'm just saying if he's still got 14 million shares to dump, the stock probably is going to, you know, maybe give up these gains. So we'll see. Is what's he buying? What's he putting his money until, okay. Well, first things first as he's paying a whole lot of tax taxes.

Yeah. First thing taxes. He's borrowing taxis and they know what, maybe, I don't know, maybe a dump it into space X a, I don't know. Um, right. Fig 16 minutes. Can we move on now? Well, now we got my chicken. Yeah, we can move on with mark. We'll see what mark has to say. He's been around wall street for 25 years.

More than me. He's been around for 75. So come on, what's mark. Half this, I don't know. It's asking mark shaken the founder of Chaikin analytics and the, uh, chicken, uh, power gauge and the chicken, the oscillator, and any number of other indicators joins our show. Now, mark. Good morning. You're don't expect me to talk about Tesla, dude.

Doesn't matter guys. Come on. You know, the stock has, has achieved critical mass it's it's got liftoff and this is all short-term chatter. Absolutely. Absolutely. If you believe in Tesla, you gotta be our power gauges bullish for three months. And, but I've got some interesting ideas I want to talk about that are not Tesla.

Okay. Let's go. Let's go. Three stocks, unity software, big lowing yesterday after the earnings everybody's talking about the metaverse Facebook has actually done unity, a big favor by renaming, uh, and focusing people on the metaverse. But unity software is a killer stock and they announced an acquisition yesterday of the largest special effects studio.

And they're making money in the metaverse right now they enable 3d gaming developers to get into cross platform distribution with advertising built in, but they're actually using augmented reality and industrial applications right now in the construction industry and the automobile industry. If you believe in the metaverse and I do, I think this is a very, a concept that has legs going forward.

I think you have to own unity software. You talked to you for a second about the metaverse here for a second, uh, because you know, you're up there, you know, with me and, you know, Lisa and I had a discussion going up to the Michigan basketball game yesterday and, uh, and we were stuck at track. And I said, can't you wait, you know, in a year or so, you know, maybe we won't get to season tickets.

We'll just be able to sit at home in the metaverse and you a couple of years, whatever, and watch the game. And she, she got very upset with me and she was like, no, I'm going to the games. I, uh, you know, this, this whole med I've been mentioned, metaverse in my household for about three months and everyone's been poo-pooing me.

And now it, you know, nowadays all over the place. I mean, I guess it's, you know, I mean, would you, where do you see, I mean, there's a generational shift. This is definitely we're moving up and out. So this is just a, it's going to be a generational shift. And this is a, this is here to stay. What do you, what do you think about 100% and the, um, you know, the, the trend was accelerated with the lockdowns that we saw, where people got comfortable not going out.

Although I think they are going out to concerts now. Houston, uh, being a horrible, tragic outlier, but I don't know if you know, we've had, I go back to the 1950s, they had 3d movies where you put on glasses, but this is serious stuff. A construction manager can walk through a building site with an engineer and with these goggles on, from unity and actually see where a duct is going to go and how that's going to affect the floor plan.

You know, this is so, you know, I always like companies that are making money before the trends. So in the metaverse you have, we have in video because you know, the chips are key and the AI stuff is key, but I love unity. I love the price action. Um, and there was a while day after the earnings were reported, the stock had traded a new all-time high sold down 20 points in the morning and then rallied to make a new all time high.

And then. With Kathy woods selling a significant part of her position. So, uh, sometimes they sales don't mean anything. You know, if you know, and Musk was selling his majority position and not going to be tweeting about the company anymore, then I'd be very concerned. But you know, I, Musk is going to continue tweeting positive things about Tesla, and they're going to have free access to capital, basically forever, as long as he wants tweeting and they keep delivering cars.

So I like unity. And then the second stock, I like it's the first time I've talked about a Bitcoin stock is marathon digital marathon marathon up here, the miner. I love it. I love the story. I got first got into it when I was out at the Stansberry Las Vegas conference two weeks ago, recommended the socket 53, it to the conference.

It ran up to 86. Uh, I guess on Monday and now it's pulled back to the 65 level. The story here is really compelling to me. They mined Bitcoin, they had 30,000 quote unquote minors. I guess those are the computers that, you know, do the grind. And they're upping that to 133,000 miners by the second quarter of 2022.

So at current prices, they have the ability to mine, $2 billion worth of Bitcoin every year. And if you think Bitcoin is going up exponentially, as a lot of people do, uh, then this is a really leverage, interesting play and very liquid. You don't have to open a Coinbase account if you don't want. What happens when the mining's over.

I mean, once all the Bitcoins are mined and we're at like 17, whatever million of the 21 million that are going to be an existence, what happens after that? And I, I, you know, obviously I'm not a crypto fanatic here. I'm just, you know, wander on these miners that are all making a lot of money mining right now.

And there's actually obviously competition for them too. We've had Frank Holmes on this show multiple times to obviously as high blockchain, which I own as well, because blockchain is, is a competitor as well as more and more competition comes in like Frank and put the analogy out there. It's like a drop puck, you know, and everybody's trying to get it, you know, and I just wonder if the competition continues to get so intense.

If eventually we have an issue in the long run here that there's this a lot of competition, obviously, once the Bitcoins are all mined, isn't that. Yeah. Like how does it work? I guess, so marathon digital has 500 million worth of Bitcoin on their balance sheet. Some of that they bought in the marketplace, some of that they mine this year, but let's, let's assume that there's a still two years left and they can mine at current prices, $4 billion worth of Bitcoin.

Compare it to the current market cap, uh, Bitcoin doubles. Now you've got $8 billion worth of Bitcoin. What are they going to do with it? Well, they can sell it. You know, they own the Bitcoin. They can sell it and invest in who knows what NFTs, uh, augmented reality. It's, it's, they're building up a pool of assets that are in demand right now with no end in sight.

You could argue that Bitcoin is an inflation hedge for the younger generation. I guess it just continues to have to get this having in this having, which makes you want for the longer term. I, I think this is really interesting play. They're doing it here in the U S and Montana North Dakota is a little bit in Canada.

Uh, and it's an interesting play, very volatile stock. I think you got to buy it on the dip. I like where it's come down. Joel, do you see a level of support level here on the, um, it broke out from 65 and I'm looking at that, the chart here and it came back down there yesterday. So I like when you have a, you know, old highs, uh, you know, as new support.

So we'll take a look at that. Uh, I guess no, one's concerned about energy consumption anymore or energy usage, I guess that's no one mirrors maybe in Wyoming and in Montana, they don't care about, I never really totally understood is the, this is green energy understanding this. I don't totally get it, but I mean, we've had mark use gone the showed arguing that, you know, this is green, but, uh, that they, because they use, you know, obviously more efficient energy sources, the not coal mining adherence.

I don't know, I I've, I kinda still think this is a waste of energy in the long run, the whole Bitcoin thing. But I guess if you think it's going to replace the financial system, which I don't do not believe that, and I own Bitcoin full disclosure. Um, so, you know, I'm talking against my book here, but I've always wondered the whole energy and Elon Musk has wondered this as well.

You know, he, obviously he tweeted a year ago, you know, when Bitcoin took the dump that, you know, he didn't know if he could get behind it because of the energy concerns. So I'm not sure how that I'm clearly late to the party here in Bitcoin and Ethereum, but I will tell you, I opened up a, um, Coinbase pro account for my granddaughters.

Oh wow. To try and build a college fund. And, you know, I had an alternative, I could have bought stocks, so I would probably would have bought the spider and the QQQ in equal amounts. And in 10 years, what are they going to do? Are they going to do. Whereas Bitcoin and Ethereum have the potential to go up 10 X now, will they do it?

Is there a reason they should go up 10 X? I couldn't tell you that. But that's what the young people think that, you know, the, whatever the gens are, gen X, millennials, wherever they are, they believe in this as an alternative to a, um, you know, a central bank based system. And the more you get into privacy issues, the more it becomes relevant to them.

So is it a store of value? No. Is it inflation, hedge maybe? Is it an alternative currency? Yes. And you've just have to find the safest ways to play up. But my point about opening the Coinbase pro account, I've had online accounts as you have Dennis with trade station and Schwab in the beginning and so forth.

I pick up my iPhone and in a glance, I see what these, you know, the top five, uh, digital tradables are doing. And I see a mark to the market account with all my information. They make it so easy to trade and transfer money in from your bank and back out again, that I can see why the younger generation is getting hooked on this.

They've made it easy to get in and out. And whether you're an investor or a straighter, yeah. Also the 24 hour market, you know, you're not, you're not, you're not dealing with gaps. You know, you're not, you're not talking to my one buddy who was re is real active. And he's like, yeah, I, I never, you know, there's no never gaps.

It's like, boom, 11 50, 9, 59, and then boomer rolls over. That's why, you know, that's why I filed the futures. I know sometimes they're out of sync with what happens during the weekend, but at least I got it open. I got a high, I got a low, I got a close. I mean, I can't, you know, unless I can automate my Bitcoin levels at 1159 and 59 seconds it's top.

But it's, there's a lot of things to be said for that. Is anybody doing good Bitcoin? Yeah. Technical analytics. Yeah. Oh yeah. I'm sure that's a good shirt. Yeah. Uh, like quantify crypto to does some good stuff. I know we we've got their heat map on the platform. There are a few other names. I can't think of them right now.

Um, there's one that I had opened for a long time and I'm someone was using Chaikin money flow early on with Bitcoin. But, um, we were looking at it. I think, you know, if, if, if there's nothing there in terms of real value, then technical analysis has to be a big. Yes. Yeah. I think it's all technical, but I really think where you hit the nail on the head here is the inflation hedge.

I think you've got money managers that see the CPI number yesterday and think I don't want to hold cash. So I'll hold Bitcoin as a cash alternative here, because at least that should hypothetically, you know, try to keep up with inflation here because we know the fed just keeps, you know, printing money and printing money.

And, you know, we can argue, you know, Peter Schiff was wrong for a long time, but let's look at what's happening here. Now we've got inflation. You know, you can look back to Peter Schiff's book from 2006, uh, crash proof and say I was wrong for 13 years, but the pandemic has, kick-started a lot of stuff that Peter Schiff talked about in his book where we do have inflation issues here.

Now that don't seem to be going away anytime soon and the younger generation and even myself see crypto as a hedge against that inflation. I think that's the real driver. Yeah, I do. I, you know, if I have the choice between Bitcoin and Ethereum, I would. Opt for Ethereum, just because there are transaction-based blockchain, practical uses practical uses, but, um, they're going to go hand in glove pretty much.

Um, the other thing, since you brought up inflation, you know, moderate inflation and low interest rates, it's really bullish prescription for the stock market. And, you know, sure. The 10 year yield went up yesterday, but the fed is not going to do that. If the market decides to do it, the, the federal step in at some point where they think it's gone too far.

So I'm, I'm still bullish on the market. Overall, even though we've gotten into my 4700 4800 range as of Monday, uh, because inflation and low interest rates is incredible prescription for, uh, you know, there is no alternative, it's a Teena market. Uh, that's why I stay, you know, somewhat, fully invested here too.

I mean, I was up to, you know, back in the summertime, I was up to 40% cash cause it was nervous, but then you just start analyzing you think I can't be that much cash because where is money going to go? I mean, I just see, it just keeps trickling into the markets and obviously into crypto as well, but it's trickling into alternative investment classes, trickling in and everything except cash like us dollars.

Yep. I'm with you. That's exactly my scenario too much cash in the summer and close to fully invested. Mark chicken is the founder of chicken analytics and shaking money flow on the chicken power gauge and joins his every other Thursday to talk about the markets. And he's still, Bush is the answer is the summary here.

Mark, I'm always a pleasure. We'll talk to you in a couple of weeks. No, actually Thanksgiving as a couple of weeks, let's reschedule. So let's reset. Let's not do that. Oh, eight 15 in the morning.

Me to work every day, I'll be up roasting turkeys or whatever your alternative. It's not going to be beyond meat based on the earnings. That's a good segue. He just gave us her segue into the script. Dennis scheduled. Hold on, hold on, hold on real fast. Uh, cause the Chad's asking for th th the three stocks, it was unity.

It was. And what am I forgetting? What's three. I didn't mention a Doximity docx. They also, here's a company that's actually making money in telehealth as opposed to Teladocs, which has lost money for 19 years. And the CEO was on CNBC yesterday and he really makes sense. This is his second appearance. He came on after the first earnings report.

Now he came on again, this guy knows this business cold, and he's very non, you know, non hype non-promotional. So one thing really got me excited about it. I have a position on it. Uh, they, he talked about how one of their monetization paths, they put up ads from hospitals, from medical practices that encourage people to book appointments.

And he said that the return on investment for the ad spend is 17 X. Whereas in other venues, when they do this, they get two to three X. Wow. That tells me that all of the, that more and more of these people are going to be using the Doximity platform to drive revenue. And, uh, you know, this is a great business model.

And, and the one other thing that I love about this is their retention rate is up around 170%, which means that their client base the 80% of the doctors in America who are on the planet. Are you using it more and more spending, more and more money on the platform? This is a, this is a very longterm stock and it's highly volatile.

It dropped from a hundred. Yeah. Don't look at it. Don't trade it. Don't look at that. Got it. We got it at Lisa picked this one up. She was supposed to get some shares. She told me we were supposed to get some shares in the IPO and I'm like, Lisa, we don't have a fidelity account. And she's like, no, I can't.

And then supposedly there was 45. I said, just buy it, you know, fit and forget about it. And that's what we did. So

it's, uh, it's, it's Facebook, it's, um, LinkedIn for doctors, for doctors. And, but, but I will point out that they have a lockup that expires tomorrow. That's six months lock up from, uh, the original public offering. So, and that's part of the reason the stock just sold. They sold down on a great earnings report.

It was down 20% after the earnings came out on Tuesday night. Uh, and so who knows what kind of selling pressure the lockup will generate, but you know, any weakness in here based on that doc mark schedule a date. That's not.

Oh, sorry. I just, I just cut you off. Sorry, mark. Just to put a bow on the, uh, the, the Bitcoin conversation, Dennis, I forgot to mention this to you yesterday, but I should have, and I will going forward on days when we get economic data like that, you have an instrument, you have a Bitcoin instrument. You can, you can use it as a hedge.

You can go to BITM or a T L right? You can go Bitcoin. I don't know if you saw it yesterday, but you can go to that, right? It's that too. I keep forgetting about that one. I'll take a while to figure that one out with the stocks spiked off the number it's. So it makes sense, but then it's sold off too. So, wow.

It's tough. Bitcoin is its own animal to a certain extent. So it kind of does its own thing and logically thinking, oh, inflation's hot here. I better get a Bitcoin. I mean, that would have worked for about a hot minute. And then they pulled the rug out from under it yesterday. So it's true. It's true. We skipped Disney it's scored to Disney real fast is the exact opposite of how things were last year.

The rest of the business is, uh, is recovering and Disney plus is not doing so hot. They reported 2 million new Disney plus subscribers in the quarter. It was their, uh, their, their lowest number for new subs in a quarter since the service launched in November of 2019. Um, and it is a dramatic, dramatic difference from, uh, the growth numbers that we saw during the.

Right when we're, when we're, we're seeing, we're seeing quarters of, you know, you know, 13 to 20 million new subs in the given quarter. Now 2 million subs, uh, new subs last quarter. We know that's kind of the only thing that, that investors kind of care about with regards to Disney. So even though the rest of the business is doing okay here, the slow growth Disney plus not what you want to see.

The EPS myths, the sales data beat a little bit. Um, and then the call was at big meander and Callie talked about so many things. They mentioned the metaverse doing their own metaverse yeah, that'll work. But, uh, that's the magic word of the week or the month? Um, I don't know. It, it was, I didn't feel good about their, their, their report going in and, and I feel vindicated.

I. Because specifically, and I'm going to pat myself on the back on this one here. Cause I have so many Twitter haters that say I get 100% of my calls wrong. So in this case I absolutely hit the nail on the head on Disney. Um, I set it on the show that I was nervous about this stock. I tweeted out three minutes at 3 57.

I tweet out, I think the Disney plus numbers are going to disappoint. We will find out in a few minutes. They absolutely disappointed the stock is down 10 bucks here. So maybe I'll get one right out of a hundred, according to my Twitter followers. But I definitely got this one. Right? Um, this was low hanging fruit.

You could pro you could just, you know, feel like just from watching my own kids, they don't watch it as much as they did. And they're the target audience. Even other people were tweeting back at me on that saying, yeah, they don't watch it. They don't watch it. That Disney plus has a serious content issue.

The CEO set it on CNBC and an interview saying we're going to come up with better content worth more better. Because the content that they have is awesome, but they don't simply have enough of it. So they need more content. If they want to compete with Netflix, they're going to have to start building, you know, the non kit stuff out there, kids 3, 5, 7 years old, still liked Disney plus, but you're not getting the Spencer Israel's, you're not getting the Juul outcome to go and unsubscribe from Netflix and it gets subscribed to.

But then I do subscribe to both. I have it for my kids, but if I didn't have kids, I would not have Disney plus. So if you don't have young kids, you're probably not subscribing to Disney. Plus the Mandalorian was awesome. They do have some more star wars series coming. That's going to be awesome as well. I love Disney's content.

They simply don't have enough of it. And that is showing up in the numbers now. Wow. I got so many things that I want to say on this. Um, the first thing is her wish I would have put a date on that upper line there that 1 68 area. Bounce bounce, bounce, bounce, right? You could have bought it. How many times off that now you're busted through it.

So now you, you want to get it, you know, if you're hoping to get a pop on this, I don't know. You know, it could always fill that gap at wa 1 74, but that 1 68, it's going to be loaded with sellers because that was the bottom of the range. Or then you look at the monthly candle there, and this is the candle I'm referring to you.

Weight quickly ups for one 50 to one 60, I would get. And also you had any stops at the one 50 area. I remember that's where I would get interested in Disney as it came in to one 50 or if I had a long-term, uh, short in the issue also they were talking about the metaverse and I don't know, I don't know how that's going to do for your theme park business.

People were saying. Yeah. Yeah. I just want to go to one. This is the last thing I'm going to say about the metaverse. Okay. This is the mess we are in the metaverse right now. Okay. We, we Dennison, I, along with the programmers at Zynga, we had to create the metaverse. Cause remember when we first started going to show Dennis, we could not connect with you.

We went to how many different platforms remember that Skype and all these different things. So yeah, the metamours is nothing new. I mean, this has been, I mean, this whole show, everything we do, this is really, it is, so it's just getting started. We create Adam brat. I don't know if he listens to the show anymore.

We drove him. Absolutely crazy. Good member, Dennis. We try to remember Adam Brett. We tried how many different platforms and we still switch every week. You still try and get us to go to what was the last one? Restream

yeah, the technology we use now, it didn't exist back then. Um, th that was that Skype for the longest time. And then Skype. How CA how did Microsoft best Skype out? I don't understand. Remember some Skype work, the Skype could have been so much more and, you know, we don't Microsoft the most valuable company in the world, but you're right.

They dropped the ball on Skype. You know, it is what it is. I mean, you look here. The metaverse I think we got it. It's Disney going to be a big part of the metaverse. I think that's where we're going. Cause we're still talking to Disney. I think so. I do. I think that they can utilize this in their theme parks.

I think that there's a lot of technology here. I do think Disney is going to be a big part of, you know, the experience of the metaphors. I think that the parks can be a big part of the experience. I love that storyline. I think we're early. On that storyline, they got to get past the Disney plus. Cause right now the biggest problem with the Disney stock and this is why I love the company Disney.

I love the content they produce. I love the parks. The biggest problem they have is that they don't have a huge Disney plus premium built into the stock. That's getting shopped out of it to the tune of 10 points today, to the tune of maybe 10 points tomorrow. Um, it's tough to be a buyer of this company when the Disney plus is not performing.

And it's such a big part of at least the story behind it. I know it's not a huge part of their revenues, but there is a 30, 40, 50 point premium in here for Disney plus. And some of that is getting sucked out of it here now. And so would I be a buyer at one 40 on Disney? Absolutely. Maybe one 50, maybe one 50, because you still got the parks.

They are going to be a metaverse play. Maybe they will figure out Disney plus it's not going away. You know, maybe they'll come up with more content. Maybe they're going to dress. I liked hearing CEO on CNBC is saying we're going to come up with more content because I've been complaining about this for six months that they don't have enough content.

So they're listening, they're listening to one of them, people are complaining about. Yeah, we'll find out tomorrow. Tomorrow is the Disney plus content extravagance. That could be a nice. If you're getting, if you're stuck on this and you want to wiggle out at one 70 or something, 1 71, that could be a nice pop, a nice fluff where they, oh, they got dig.

Now they have great co what great timing they have the earnings, they talk about content, and then they have this. Now what a, what a dog and pony show. I mean, what timing for them to do that. But yeah, the last thing I'll say about the Disney plus thing is, uh, they did still reaffirm their V their long-term Disney plus guidance.

They, even though they just missed badly on as far, as far as numbers for the last quarter, they still said, Hey, by the end of 2024, we still think we could have between 230 and 260 million Disney plus subscribers. So what they're saying is in the next three years, we're going to dump. We're going to more than double is what.

That's it. And now, now it's a question of, does the street believe them or not? What are they doing with those parks? I mean, if you talk about a reopening trade, we're coming out of this pandemic. I mean, these park, you know, these parks should be picking up and they did, they did, but nobody cares about that tall.

So that's just the way and they are, and we are, and it is a reopening play. And there is a buying opportunity on Disney. I'm not saying shorted into oblivion. I think the easy money was made just being short into this. And maybe you're covering today, but you are taking a critical support here too. I think it's got a date with one 60.

I don't know if we're going to get one 50. I think I would be a buyer at one 50 in the long-term account. Um, you do have that pesky little low 1 60, 52 back in January. I think it's got a date with that. I think we're going to, could see eventually see once. Um, I just, just too much, you know, the reason that, uh, I will, I mean, yeah, you might get a bounce, one sixties, a psychological level.

The reason that I don't put as much confidence in that is because of all the money. That like it held 1 68, right? I mean, there's a lot of people that took long. You guys took some longs over 1 62 Spencer, or you get in before the big pop there's a lot of people scratching their head. Now 180 1 90, 1 95.

It just was up there too long, too much volume traded, you know, for it to just bounce a one 60 and go right back to 180. But we'll see. That's uh, we'll let Mr market tell us. But right now the pre-market law was 1 64. That's all we can base it on 1 64 0 4. So that's your level for today? The bottom of yesterday's range, if you see that get PKA man, 1 73 87 was, uh, was, uh, the low from yesterday.

I'm sure a lot of people would like to see that. I mean, here here's a, and I've just got a message from a friend Paul, and he's saying the parks could go virtual parks. What do you think of the thought process of like a metaverse? Sure, sure. A Disney world. I agree, Paul, that's a great point and it just messaged me, but I agree.

Um, I think. There is, um, a place for Disney in the metaverse. So I CA I, so looking here today, I don't think I'm coming in and selling my Disney shares. Now, I think you're suicidal. I'm ahead of the report. And I think you're finding a buy point in here because I do think, I do believe they will figure Disney plus out.

They know there's a content issue. It's nice to hear that maybe they're going to come up more content. We know we've got some more star wars series coming. We'll have some more, a Marvel series coming. So there's going to be the, you know, they could fix that problem. And then it is a metaverse place. So I do think that the pullback today is a buying opportunity.

I'm just not sure it washes itself out one day. What if they come out with a, a metaverse gate where you could go inside her, be the light. You can do all of that. The metaverse makes sense for Disney and the parks. It really does. So I think it's a matter, I think it is a metaverse play. I think Disney is a matter of our supply, so I think it does bounce back here.

And it's an, it may not take that long. So it's on my shopping list. It was on my cell list yesterday. And now it's come that a lot of the Disney plus parents just losing probably 20% of the Disney plus premium that was in there overnight. I think there's a play in here to actually be a buyer of Disney somewhere on this pullback.

I think you had it right the first time when you said it's a, it's a metaverse play, but it's going to take a long time. We're ahead of the story. But before people are saying, whoa, Disney is a metaverse play. You don't think of it as you know, they didn't rename their stock. Metta, Metta Disney. Yeah. Walter, Walt, would it be too happy all for that?

Let's move on here. And you want to go to beyond me? I just say one thing I always wanted to go to blizzard beach, get completely soaked and go down that, that, that big Lisa won't go down. If I'm not going to do that with that's going to be no fun in the matter verse, how do you switch lanes illegally in the metaverse?

I don't know how you get that sensation of being wet though, in the metaphor. Not yet jumping and jumping down the side slides, we've got to cover more than three stacks today. We would have to go all right, beyond me, w we'll go there next this was a tough one. I'm sorry to everyone who was in this thing, but, uh, the EPS, they missed quite badly.

They lost 87 cents per share last quarter for us and asked me to pay 39 cent loss on their sales. Also missed 160, $109 million. They gave sales guidance also missed quite badly. They guided 85 to $110 million in sales for their current quarter versus $131 million estimate. And it will be also said on top of all that, yeah, we were, we're having some supply chain problems.

So, and if you go into the store now you see the burgers are on sale. I see the beyond meat burgers are on sale. Now I know you, months ago you'd be making a lot of money, so there's a lot of money to be made. Just go into your store and look. It's still worth $6.2 billion, or at least it was yesterday. So maybe it's only worth five or whatever now, but you know, just putting, giving your perspective of how irrational this market can become at times Tyson foods, which is your biggest chicken producer is worth 29 billion.

When beyond meat was at the highs, it was approaching the Tyson foods market cap, which has the entire, basically chicken market, you know, and here you've got an alternative to that and they're like, oh yeah, that's going to be all beyond meat while it's not. And you know what, it's coming to roost here.

Now we've had lots. And, and, and what a gift, what a gift you guys had and gentlemen and women alike back in January when we had the short squeeze from hell on this thing, and it went back up to $221 a share. And that was just unbelievable that everybody who bought this thing off the hype back in 2019, we got 2 39 almost got their money back at the beginning of January, 2022.

This year. So when you get those ridiculous short squeezes, you sell and you're going to get more short squeezes and beyond me, cause there's short float. Well, actually it's not even that high anymore. So it's already come down enough. I guess it's not that high anymore, but at one time it was a higher, a short interest dock.

It's not high anymore. So maybe you aren't getting any actually, no, let me go check that. I was looking at the wrong stock. I was looking at Tyson foods. What's beyond me. Short interest is probably still high, short interest. Yeah, it's still 27%. So you're going to continue to get short squeezes in here.

And those short squeezes are all cells in my opportunity. This is a stock and a clear downtrend. Now all cells to be sold. I like buying dips on stocks and uptrends like unity yesterday. Um, meet clear down trend. You got to dip here. I don't buy dips on stocks and down trends because they get dippy or just like Peloton.

Hello? Why did we, was it lower guidance or something? When we went from like 1 0 5, 1 0 8, uh, nine. Was that lower guidance or something. And then look at that. Cause when you mentioned the gift for shareholders,

I mean, I remember I told Lisa like six months ago, I'm like, just don't buy those things anymore. It was October 20th. It was a guidance, right? It was no, yes it was, it was guidance. Also. They told you it was going to be bad body posted anyway, hit, it goes up and fills the gap. That thing up there, who's doing that.

Who bought that a one away? Why were we not looking at that and shorten the hell out of that Juul on that gap? Fill what a technical trade that was all the resistance up at one 10. They tell you it's lower guidance that comes back 10 days later because the market is just stupid at some points in time.

And it fills the gap all the way up to 1 0 8. And now we're down at 77. What a gift, what a gift. Every single time. This thing rallies, it's a gift of mine. Hey that next. All right. Do you want to go to a sofa here? Yes. That's her? Yeah. Yeah. I'm back in. You said you were going to buy this out a good report.

You said you wouldn't have no problem buying this at 23 or 24, right? You're right. I guess I actually, and I'm not, I'm not going to back off from that. I did say, you know, if it's a bad report and it goes to 1870, I'm not going to average down, but I could average of if it's a good report, I'm not, I'm not this isn't a trade.

Right. If it was a trade would be different, but it's not. Anyway, the earnings per share was good. They beat the estimates, uh, sales, uh, beat the experts as well. Uh, so they added 377,000 new memories during the quarter that gave some guidance that came in prey, basically in wanted for the quarter on higher for the year.

Uh, and all that comes down to a couple bucks, move higher, nice screwed this stock right up. I had it at 14 and change right near the Lowe's. I sold it at like 17 and change. Cause I thought it was topping out at 18. A dead came all back down to 15. Again, I don't rebuy it. And I look back at 23 and thinking, why did I ever sell at 17 and a half?

So that's a problem if you're going to sell them and scalp, get back in, didn't get back in now missing the boat. So fire hot up near the highs, trying to take out the highs, but you were hanging out at the highs. So that's an important level. The platform Spence. No, I don't. Sorry. No, I just curious. No, I know.

I mean, cause it, to me, it, I don't know a ton about the company, but it seems like, you know, like the banking for, you know, uh, you know, the what, what are you guys gen? What, what do they call it? They're running out of letters. Z is the current one is, yeah. Okay. Uh, pre-market high in this one, uh, that comes in at 24 and a quarter.

Uh, you haven't been up there in a long time. You have an old, let's see what happens. I mean, you take out that pre you know, what happens when stocks blast off and take out the pre-market. I, you know, don't know where the heck they're going to go monthly high at 24 95. If you're looking for another target so far.

So FYI, can we go to open door? This was going to be, this is so interesting because what we're wondering, right? Open door closed. Well, well, it's open now. It's open now, but what are they? What are they going to say? But yeah, you did, uh, ended up being a really good report or that ups B their sales beat, and they gave guidance of all the estimates.

And the takeaway was that what happened with Zillow and the opposite end of the train, basically. Yeah, it, this is not a instant buyer business model problem. This is a Zillow problem. They screwed up open door is profiting from it. They're doing it. They're doing what Zillow tried to do. It was a pretty great report for open door.

It was basically just an indictment on. The one issue you're going to have is you have massive epic, super duper resistance up in the 24 area. And that's where we kissed in that. Right after the report, you can see the big pop-up right. Two resistance points use these Joel cotton levels. They work a lot of the times in this case, it worked again.

So you got epic, huge resistance above here. So it's hard to just come in here and be a buyer. I do like the fact that, you know, it's rallied and obviously getting it all back, but it's a stock that broke trend and I get back above it. If it could get up above 25, it actually becomes more interesting than at 23 and a half to 24.

Joel, Joel, I set up perfectly. So

let's, let's move on to. I mean the strong, you just got to buy those storied stocks that are love you affirm. Those are the ones you buy in the depth, man. If you're buying a firm ahead of this report yesterday, you already get it as that Nat CEO says, good job, DEP buyers in this one. It's the same story.

Earnings, good and guidance raised. That's all you need to know.

1 76 65. Let's see it. Didn't get there. I got a little bit over 1 75. So 10 bucks off the high. You might have to pick an intermediate level, but uh, if you want to hold out for the old time, high 1 66 65, just three, pretty ugly looking candles here. So like your one 40 calls, there were absolutely worthless yesterday and they're now worth 25 bucks.

I dunno. I dunno how you don't lock it in, but we'll see. I'll tell ya. I think both of these stocks affirm and unity, I'm going to throw out the poll, which one hits 201st. Cause I think they both become $200 stocks. So which one? Obviously unity has the lead. It's 1 78. This one's 1 65. And change. Um, I think it's going to be unity just because it's close to there.

And that candle yesterday on unity was unbelievable. Stock down 9%. They've bought the hell out of that, then they didn't even waste any time. They could not stop buying it yesterday. I like both of these stocks, at least, uh, at least from technical basis. Okay. I got a chunk of this in like 21 and a half 22 and, uh, had a little bit for a swing trade and I pulled the dentist stock Woodstock MQ.

Okay. Yup, yup. And, uh, 15% of this right now and I'd never, it just kept on. I just, I, I lost track of it. Just trying to pick it up off at a swing trade and still got it in a long-term portfolio. Never, never let it go, but nothing today, nothing today. And a little bit of regret up four sticks, uh, earnings for MQ last night as well.

So, uh,

Yes. What a dummy people are asking about Palentier. Are we getting the most love stock on wall street? Is it, this is a tradie rates, stock folks. So if that's what you like to do, then pick your range and stick with it. Right now that range is wide 22 to 27. You were just at 27 for 22, I would say even lower than that.

20 21 22, your buyer, if you're thinking that this is just going to be the same type of chopping up, this has been you're exactly right. Joel, the kind of stock you want to sell premium on. If you're an option writer, it's the kind of stock that you buy and you're channeling or the chairman of that channeling stocks.com.

You're right. 21, 20 22, probably a buyer 25, 26, probably a seller. The one thing I will say is that as an ugly two days, so it's not easy sledding. So you're going to have epic resistance up at 24. Now from the people who bought it after day one, Saint OPES, I was a little bit too early, so they'll want to get their money back.

So they get up in the upper 20 threes is going to find resistance. So I'd be more inclined to actually sell the rip on this one around 23 and a half to 24, looking to bring it in around 21, you know? And I don't know how much is it going to affect their bottom line, but they bought a big chunk of gold number that goodbye.

Yeah, they do. Yeah. We do know that. Check the prompts. It keeps going. Joel, the inflation on work, working silver gold. When did Palentier buy gold? I did not make this up. They also bought Bitcoin and they buy both. Uh, hold on. Let's look at the Crow. I don't even do we still know what they do. Do we understand what Palentier does they have government.

But what did they, okay. They worked for the government for the government. They work for the government. That's what Joel, Joel, August 17th. Ooh. Yeah, August 17th. Right? Let's see where gold was back then. They're buying the dip in here, right? Look at that, maybe on this day or maybe in this area. So they bought a lot of it, but, uh, uh, anyway, someone just mentioned, they said they saw, um, uh, right at 15 and I, and I'm like, oh my God, it's at 15.

We're going to get Marcus back on the show. The deal is what happened. And you're wondering why, what happened? Uh, they closed, they closed that deal with Foxconn for the sale of their facility. Yeah. When you're selling stuff, when you're selling stuff. It's usually a selling opportunity for the stock too.

So, sorry, not a fan. I'd sell the rep. Uh, despite, oh man got the seven 50 Dennis. Yeah. So they've already sold the rip. I continued to sell the rep. It is nine o'clock. So, uh, yeah, you got your guest. I'm going to hop a triple D. I talked to your ed doctor. Uh, if, if Peter, I, I don't see Peter right now, but I know there was a lot more tinkers.

We didn't get to, we didn't get to all offer pad in a few years in Chapman tonight, OPA D similar to open door. The report was also good. Fossil is your big gainer of the day, F O S L major inflation in watches, apparently. Uh, because it makes sense also just blue money Mitch pick from the last Monday. I can't, I can't remember all your picks.

You may got, gotta stick on money, Mitch. I gotta, I can't, I don't write anything down. I don't even know. I follow money, Mitch too. You know, I, we get you started. He wanted me over at workhorse now. I always listen. When he throws me a stock. I always take a look. Sometimes I agree. Sometimes I don't agree, but when Mitch throws out a stock, I always take a look.

Yeah. Anyway, it was, they, the EPA I'll bring up the chart here. The EPS. Well, here's the newsfeed EPS beat, uh, sales beat guidance res we'll look at, look at fossil FSL if your biggest gainer of the day. So like 30%, the big move. I don't chase mus, but you know, it kinda makes sense. People are buying stuff, man, buy and watch is alternative asset classes, alternative to cash.

It makes sense. I wish I would've missed the money. Mitch. The trade was three days ago when he gave the pick on Monday. Wish I would've listened. I'd be up 33% right now. So that's all I can say is good job money match. Good pick. And then, uh, well go back to my movers tool. You can just see the biggest gainers, right?

W we had affirmed, we talked about that. Affirm. Oh, biggest loser today. Uh, besides beyond meat, uh, tubing ones Paysafe and Bumble folic moving off earnings. I'm sorry. Another few on our chat long Paysafe PSFA um, Not going to get better, other than look safe. I fear they, they missed and then they cut their guidance and a Bumble.

I didn't actually look at their report yet. Let's take a look. See real fast, uh, Bumble the EPS down year over year sales, uh, beat by barely beat their sales number. Uh, their, the estimate there, uh, they gave sales guidance for the quarter. Let's see, it looks like it was okay. Sales guidance for the year. It was okay.

Um, best in breed is match, you know, so bumbles try and, but I don't know your back near the all time lowest here. I, and I always say, write this one down. If you haven't written it down over the last five years, when it stops making a new all time low, you got to go and you are very, very close to making a new all time low and Bumble.

So you could bounce here. 39 is a critical level. That's the three lows back from may, June by our back in may, we went bang, bang, bang, close, huge. I tend to think it's going to take it out. I tend to think it's going to get ugly after that too, because then it's all pain. So we'll see. It might bounce here the first time takes it out.

If it eventually breaches it though, I absolutely don't want to. And it's a 38 91 is the all-time low. I never want to own a stock making a new all-time low. It's usually a recipe for a disaster. Usually it is. Is there a dentist have a good rest of your day? We'll talk to you tomorrow. Uh, I hope, uh, your kids feel better.

Uh, let's bring on peer talking here, lie from the trading floor in his house. AKA the Einstein of wall street, Peter. Good morning. What's up. What's up and sing a nation. How's everybody doing? We're doing, how are you? I'm okay. I'm actually not at the stock exchange. I'm in Houston visiting my family. Oh, you're not at your house or all these things in your life.

From the trading floor in Houston. Excellent. The new Houston stock exchange, the near Houston stock exchange. All right, Peter. Uh, I have been very excited excitable the past couple of weeks because there's been so much going on of all the things of every day there like a dozen. Stocks up 20% that doesn't stock down 20%.

Not even all of them are earnings related, which is kind of the craziest thing to me of all the things happening. What, what has your interest, what is top of mind for you, right? No. What I have to really address what you're talking about. Cause I think it's really super important. You know, when we talk about day trading, people are like hopping into stocks on hype, you know, at the highs of the day with some of these stocks making major moves.

And we keep begging people to realize that it's just the FOMO is a dangerous, dangerous, uh, prescription for trading because you know, I, I get it. People don't want to miss out on these things, but every day there's another one every day, there are four or five of them we're seeing moves, whether it's earnings related, whether it's fed related, whether it's the hype and the stocks are getting MIMA fight, you know, those moves, those volumes of volatility is wild.

So I beg everybody to be patient and really use technical analysis when it comes to these names because. You know, when you have a stock going up as we, you know, I think you and I mentioned it, um, uh, last week was with car, you know, when you see a stock go from, I think, I think it had traded wildly before we spoke last week.

When you see a stock go from 1 59 to 5 47, and then back to two 60, you know, when you see a majority of the volume above the four or $500 range, you know that a lot of people are getting hurt in the stock and not making money. And you know, and then we come back to it and then you see the moves on earnings.

You see the PayPal, then you saw, uh, Peloton, right? You're seeing Peloton get cut in half. You saw Myrna selling off $60, two days in a row. And so some of these names, you know, I don't look, we always talk about us, you know, especially with David Green too. We've seen this movie before. Well, I don't really think it's clear.

I've ever seen a movie before where you're seeing the valuations get cut so badly. You know, stocks go up and down look, good news market goes up bad news market. And no news market goes up, you know, and then you're seeing earnings come out that are positive stocks, go down earnings, come out, that they missed and they go up.

So it's kind of confusing, right? Is it a matter of the expectations are, are, are, uh, sort of ill, ill, ill described three, you know, you know, with, with earnings or whether the trade is too crowded or you've got just, I mean, have you ever seen that, you know, w w watch what happened in Peloton? Right? Look Peloton was the golden child during COVID and I get it.

People are starting to go back to the gym and all that, but is it worth the evaluation cut in half? You know, is it a short supply chain story? You know, the, the exaggeration and moves on the way up and the way down are, are incredibly. Um, earlier on the show today, uh, we were talking about Elan mosque selling his shares, and the question came up, uh, I think in the chat or, uh, maybe just a question we've had, but when someone like Elon Musk is selling, you know, millions of shares across a couple of day span, how is he or his broker?

How are they doing that? Because you're, you're used to being on the floor and you've seen big orders and big institutions working work out. How is he working out at that position? Is he just going off the V. You know, it's a really good question. You know, we've often described when you and me, when we started talking about a little historic, um, uh, historically how the market used to work.

We talked one day, you and I talked about block trades, right? The way, the way when market makers used to make S make deals, we'd come in, we have a hundred thousand seller, a million to sell a bid was made. We would hit it, and then we would proceed to work out of a large position on whether we're getting into a stock or out of a stock in today's world with algorithms and whatnot.

I know on the. That my handheld can really give me an option of 30 different algorithms. I can be aggressive. I can be passive. I can be a walk. I can be a view op you know, I can be 5%. I can be 10%. So, and those, obviously those are algorithms that every broker upstairs has access to. There are other platforms that people are able to trade through.

Um, you know, is he giving it to a broker on the floor? You know, I mean, it is an Aztec stock, so we don't trade Tesla. So it's not happening through the NYC. Right. But clearly a broker is doing it. He's handling it quite well. Look, we did see a Tesla down a hundred, uh, you know, we saw it down $110, 163 at one point.

But that was actually the day before. Uh, Tesla, uh, before he had agreed he was going to sell the stock, I think, you know, so I'm not really clear, you know, it gives it to a broker. He may spread the order around. Um, and I guess like people, maybe not Yvonne, but like people like Elon, right? When, when you see a C CEO of a company, you know, has got a 10 beats, uh, a pre-planned pre-planned sale, for example, he's got to work out of this position.

I guess there's more, there's multiple ways to do it. It's like a, you know what, to, to be honest, uh, Spencer, I would willing to bet if he was selling five minutes was at 5 million. A billion dollars now it's worth it was, it was, you know what? I'm willing to bet that whoever represents him, made some phone calls, got three or four people involved in the print traded off floor.

I guarantee you that's the way that was done. You know, you know how the way the stock acts, you know, the enthusiasm in the sector, you know, that reveal and went public yesterday. Everybody's taught on electric cars. I would imagine three or four phone calls and they were able to place the $5 billion worth of.

In a minute. I was, I was wondering if you were going to say that I I'm willing to bet you a million dollars. That's what exactly what happened? It was a, it was a couple of phone calls. People said, we're looking to sell a block of $5 billion worth of stock and we get some bids. And I would imagine it was oversubscribed.

I promised it was probably down a hundred dollars, which is nothing to the stock. They surely did not want to bring $5 billion worth of stock into the marketplace because it would have spooked the whole thing. Right. Yeah. Um, and that's great insight there, Peter. Uh, and then I guess, uh, is there anything else on your radar right now?

Uh, did, did you have a reaction to the CPI number? Do you not care about the CPI number? W what, what else is on your radar here as you know, what I'm sort of looking at, whether there's going to be any follow through on the south side? I think what is the market up three handles this morning? We're on three.

Yeah. Okay. So we're bouncing back from yesterday, sell off, right. And, you know, it's so funny how with the more market where it is. You've got one or two days where the market feels a little weak, whether it's just a pullback, a consolidation, we're responding to supply chain, inflation numbers and whatnot.

Um, and suddenly it's the end of the world and it's doomsday. And this is the end of the bull market. We've seen it, you know, for the last three months, every time we had a small sell off. And then again, we come into the market this morning and there's, there's a bidding, right? You and I have spoken about it a lot that any, any slight discount, normally in the old days, you'd see a market sort of at this point, trading at record highs, let the market come in two, three, 5% on some bad news, uh, before it would bounce back.

Now we see barely a 1% move in the market and there's a bit that's pretty strong. So, um, I'm, I feel confident. I'm not sure what will dislocate this rally, but it surely feels like the market's telling us it's nothing nothing's going to happen too soon. I feel like, uh, if you have to say to yourself, this is the time.

That means it's not the top. Right? Is that how it works? Right. Look at, look at what happened in Caribbean yesterday. Look at what happens. Look at crypto, right? There's there, there are probably people still sitting on the sidelines who missed the boat on, on the market, on some of these IPO's on crypto and they're just jumping in.

Now, there are people with, you know, they're, they're the meme guys who are out there buying stock with abandon, just because, just because, you know, there are a lot of new millionaires out there trading the market these days. And so, you know, it seems, as I said, good news market goes up, bad news market goes up.

It just feels like there people are just dying to get involved in something to make an investment in their future and the stock. Market's the name of the game. All right. Peter Tuckman is, uh, also known as the Einstein of wall street. He's also runs wall street, global trading academy. The link to which is anal.

The description of this video on your word, says his name and his Twitter handle. Peter joins us every Thursday. We appreciate it, Peter. Thanks for coming on. Technical analysis rules guys. Check it out. Technical analysis rules. Uh, okay. It is nine 12 wive trading with Benzinga. We'll be starting at nine 15 today.

So like two minutes from now, basically. So I'm going to wrap up the show here right now. Thanks to Peter. Thanks to mark shaking. Thanks to all of you in the chat. I know we did not cover everything. We, we, we never can. Unfortunately, there's so many questions from the chat we didn't get to, uh, the, the Ilan must have something.

We can talk about that for like an hour. I feel like, uh, so many tickers we didn't got to, we didn't even get to the fact that it. I should probably text Dennis and Joel about that. Well, John knows, I don't know if Dennis knows it singles day. Right. Uh, and so national shopping holiday in China. So Alibaba in focus there, we didn't even mention that this morning or yesterday for that matter.

So, uh, watching that, um, watching all the earnings movers, right. Recovered like a half dozen of them, but there's like a hundred more. Um, so yes, stay tuned to wive trading with Benzinga. We will cover as much of the stuff as we can. We'll take more questions from our chat and you can just watch do Nate and Ryan and Mitch, uh, make some yellow trades, uh, risk, risk controlled Yolo traits, uh, stocks and options.

And, uh, just hang out with us through the open. And that being said, please remember all the information from our show has meant to be used as informational purposes and not for investing or trading advice. If you can, before you go do me a second. And just like, see that thumbs up on the screen. It looks, it looks just like that.

Right. You can just hit that little thumbs up button and then that'll be like, and that will make me feel better about myself, uh, in my life. So please do that. I'd appreciate that read 365 right now. Um, and I don't know, to get to 500 today. Uh, thanks. Uh, to, uh, for the super chat comments. I believe Matt Miller, uh, left a couple of Madam, I'm sorry.

I saw your super chest. And, uh, we did not have time to address them today, but, but I, I wrote them down. So, uh, we'll cover them for, uh, on live trading here. Cause I wrote down your, your chats as you gave them. Um, so thank you for that. And, uh, That's it guys live training with ending is starting right now in like 30 seconds.

And we're just hanging out with you with the open. Everyone. See you there.

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