Absolute Madness

Episode Summary:

• Market Recap
• DWAC over $120
• SNAP gets crushed on weak guidance
• INTEL hammered on profit margins

CMG, DRI, SNAP, SBUX,PYPL,DWAC,INTC,SNAP

2 week free trial no credit card required - https://pro.benzinga.com/

Email onboarding@benzinga.com

Guests:

Kenny Glick, Owner and Creator of HittheBid.com 15:00

Twitter: https://twitter.com/HitTheBidRadio

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.

Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcasts

Unedited Transcript

Good morning. Good morning. Good morning, everybody happy Friday to Friday. And we got a lot to talk about. We've got some crazy movers you guys know about that. We've got all time highs. You also know about that. Um, so we'll try to cover as much of it as we can. That's the plan for today? Kenny Glick will be our guests in around 13 minutes or so.

Um, I we'll try to keep the conversation PG 13, but. Never came around with anything here. So smash that like button we are. It's going to be a show. I can promise you that it's going to be a show today. Um, Joel, let's just start with the overall market and we'll get into the fun stuff here. I guess the overall market is the fun stuff.

Cause we're in all time highs. So yeah. Uh it's uh, the market took that dip off that all-time closing high 41 75. Uh, we're currently out for handles 45 75. Just not going to pre-market I right there. 45, 48. I can't give you any resistance when there isn't any resistance training, a new all-time highs, crewed up 78 cents and 83, 28.

We got little silly yesterday when we went to 83 96. So that's a target on the upside. All gold God, people like gold today up 11 70 17 93 60 need to get over that $1,800 hurdle. Silver that's in the green by 24 cents at 24 41. Bitcoin. That's quiet this morning. It's up 6 40 60 3,550. These are the futures and the theory that's up $54 at 41 37 in a quarter while there's some days where we bring triple DN and he's got it.

Great handle on the market. He's feeling good. And today.

It's a lot of weird things happen. They relationships all over the place and a mess today. When my relationships are a mess, you know, I'm having a bad day. Um, you know, just like simple stuff, like TLT trading higher, and the banks trading higher right along with it. I mean, the IWM is up 85 cents. There's a hell of a lot of stocks that are down today.

So they got to buy something. So they're going in the buy in the banks and buying commodity stocks. It's kind of what they're buying. There's a hell of a lot of stocks that are green too though. So it is a very weird day. There's just no rhyme or reason. I mean, you've got some stocks getting hit pretty hard, and then you've got other stocks trading in the green.

I mean the best indicator last night was obviously the snap news, which totaled the entire market down. I've never seen, never seen. Like a stock is smallest snap. Take the entire market down. That is exactly what happened. Give us the details, Mr. Israel, because this is a snap sell off. All right. Okay. I was going to get to snap later.

I, I know it's the most important thing to talk about. So obviously DWA racy. I know y'all want to talk to you that way saying we're going to talk a long time about DWC. So don't worry. We all had traits in it. We all have seller's remorse in it. Every single person in the world has seller's remorse in it because it's trading at an all time high and it looks like it wants to go to triple digits, but okay.

Let's, let's come back to the WIC in a second because this snap news is more important for the majority of market investors I've ordered today. So the Snapchat, if you only looked at the headline numbers, you would think, oh, it's not bad earnings per share, beat on their sales, missed a little bit. Um, but their sales guidance was light and here's why they basically blend the two things they blamed.

They said, remember last quarter, everyone. Remember when Snapchat blew blew it away and they said, yeah, we've seen no effect from apple. Uh, the apple, uh, privacy change. It's it hasn't affected our users, uh, our ability to monetize our users at all. Um, well, that's not the case this time around, because they'd say they said the exact opposite.

Um, it turns out Apple's privacy changes are affecting them. And in addition to that, they blamed, uh, w what else? Global supply chain problems for what they call a weaker appetite for advertising right now, because I guess, why would you want to advertise? Why would you want to spend money on advertising?

If you know that your no, one's gonna be able to get your product anyway. So you might as well wait for the next quarter. So, uh, they blamed apple and, uh, for light guidance and it stopped. Hammered hammered. Yeah. And it wasn't just a stock that got hammered. It was everything to do with, anybody's got anything to do with that app store apparently cause Facebook you to know your $14, they advertise model, sorry, $14 it's down, but it was down 25 on this headline from snap, you had Google at one point in time was down almost a hundred points, almost a hundred points on Google.

They didn't say anything. This is all from the snap commentary. Like that's knocking Google down and Facebook down. And then because the cues aren't falling far enough, this absurd market doesn't even know what to do. The Arabs don't even know what to do. So they start buying Microsoft. So if you look at Microsoft right on this news, Microsoft has a wicked spike up to $313 because the Arabs.

Well, hell queues are hardly aren't down enough here yet. So, and Google and Facebook just lost a significant amount. So we got to buy something. So it's, they're buying Microsoft. I'm like Microsoft rallies, $2 on the snap headline. And I'm like, well, I can't even understand this. And it came right back in the Microsoft.

So it was an awesome fade, but it just goes to show the arbitrage effects in this market are just incredible. The ETF arbitrage effects, you know, with Microsoft rallying on it, because the Arabs are all like, what the hell is. So the box. So anyways, we've had a nice bounce now in Facebook and Google. I mean, Facebook had huge support.

I know we're not talking snap as much because snap isn't as widely owned as Facebook and Google. So we have bounced out of those areas, but this was a snap sell off in the entire market last night. And obviously the market has come back here this morning by the dip wins the day. Again, it just always wins the day.

It seems like, I mean, we're at all time high. So obviously it always has won the day. Um, but it was some pain last night for, and there still is some pain and some individual stocks. Yeah. Well the top score to the snap first it's it is coming back a little bit. There. That's your main catalyst. I mean, they just took this straight down.

You got that at instant reaction and, uh, the pre-market low probably is safe. 52 48. And what's amazing. You've rallied back the highest level you've had since that is just on the last bracket. It's 61 14. So if you're actually 61 20, so if you're looking for more upside, you know, I think you got to get above 61, 20, and now with, you know, being Nat fire off the low, I think you find buyers here.

If you, if you start to go back down again, it really thick and up. I mean, after that spike glow. So that's what I'm thinking. I don't own it. I don't have anything to do with it. I, I don't want to own it. So I'm not going to be looking at it today or you don't own snap, and it's still impacted, uh, the majority of a lot of other people's portfolios in the way of Google and Facebook and how many other companies, you know, are being potentially impacted by this.

I know Twitter obviously is your obvious sell off there as well, which in Twitter, I still think. And I'm going to say. You know, if this DWA C story continues to remain hot, I think the money could come out of Twitter there too. I'm surprised it didn't sell off more ahead of, you know, obviously it's a snap sell off this morning for Twitter, but I'm surprised they weren't hitting Twitter yesterday off this DWI cm.

Maybe that's the segue into DWA. See, I've never seen a move like this, you know? And I feel like, I feel like I got, you know, really wrong. I mean, I, I thought it would bounce out of the 10 area, but I thought it would go to like 1280 $2. I'm like, I way underestimated one, the power of Reddit to the power of Trump, you know, like just, you know, that the media following, obviously that this is going to get major media and, um, You know, just, just to say like, I, I believe this became the number one stock mentioned on Reddit yesterday.

Um, I do believe that you saw a weakness in AMC. You saw weakness in game stop. You saw a weakness in some of these other meme stocks yesterday because the money was coming out of those stocks to go into DWA. See, like we talk about, you know, we talked about this on our educational event too. You have this like retail, Reddit, you know, money like this, that this huge amount of speculative cash that chases the next hot story.

And it moves to chase the next odd story. And it goes into the next hot story. This DWC is the epitome of all of that. This became the hottest story that maybe we've seen. Ever above game stop because you had a stock go from $10 to $83. Now in less than 24 hours. I'm not sure I've ever seen that. I probably discounted it because it was a spec and specs have been in the garbage for a long time.

But holy mackerel, um, that's unbelievable. I know you made a trade on it. I made a trade on it. I bought it. Don't even ask where I bought it because I bought it really low and I sold it really low. And had Spencer. I know you actually did a lot. You made four points on, I don't know if you guys saw it anywhere, ever do that again so we can show other people how Dennis and I are doing this morning.

Uh, I dunno if he can do it again. Let's see. Uh, he just, it was just up on the screen there, but if you're watching, then you may miss it. Cause it was, it was quick. Um, oh no, that wasn't me. I wasn't making, I wasn't making 80 points on this. There are so many points in this DWI. Tracy thought I said on the show, I was like, when it got down, like the 10 fifties, 10 sixties, like, I don't know it's going to go all the way down to 10, but I'm like, you're going to have huge support at 10.

And I kind of thought it could bounce the, like the Ulab ins maybe even the twelves, but I sat on the shows like nineteens long gone or 22 that we talked about, the pre-market high. I was long gone, never getting there again. I got there like an hour and then it just kept going and going and going and going.

And the Reddit, this is an eye-opener for every trader out there is that there may have never been a more influential group of traders than Reddit, you know, like what they did with GameStop, what they've done with some of the meme stuff. What they've done with DWA C and I believe it's all retail driven here and obviously algorithmic Joe, Jim, and chasing retail as well.

So Al goes on there too. Don't kid yourself, but this story, I mean, we're in this market where story carries stocks 10 times further than you ever think they could. And I way underestimated the story of Trump here. So that's on me. Obviously. I could have made a lot of money on it, cause it did buy at a really good price.

And I sold it thinking like I did not see anything like this ever coming. Joel, so, and Spencer, I know like you had like 13 to 17, you should've seen me. So I said, I'm live hurting. I was like, I'm going to sell this thing. The first red candle that we get the first read, 15 minutes bar that we get I'm done.

And it took, it took a little while. But it came at like 1130. I think this was, I got the chemo trays and the shots and this isn't WSB. I mean, this was the number one stock on wall street bats. They've actually, I believe taken it off this morning. It's mentioned so much. Am I incorrect with that? What do you mean?

I believe this was the number one stock mentioned them all street. Bazzi that's not what I'm seeing. It's among the most mentions it's. If you go to the top of the page right now, there are like a couple of this is, this was the number one stock on Reddit and wall street bats yesterday. But this isn't just Reddit.

So I, maybe I should, this is all social media. You go DWA. See, you know, and I, and I've talked about this on the show, go DW, racy, go to your. Type in DWA C go dollar DW, racy, and go to latest. Don't go to top. Top sucks. Go click. Do you know how many tweets are happening on DWA? See there's one a second. This is on just Twitter.

There's one as second. So maybe we shouldn't call, just read it. This has retail frenzy at its best. You know, I've never seen a stock Juul on Twitter. Getting mentioned once a tweet, once a second on DWC, like you go to latest on a normal stock. If it's like just a small cap, like nothing stock, it might have a few mentions that day.

You know, you go to apple and it's got one every few minutes you go to DWC right now. It's got a tweet. Every second, everybody is talking about this stock. So you've got wall street bats. You've got Twitter. You've got probably discard. You got every social media platform that his friends seeing around the stock.

Uh, I'm an, you see it got 86 now? Why not a hundred? What? Like, why not? I mean, it's come this far. I don't know. I was looking at it last night at St. Should I buy it at 66? Because it's probably go into a hundred. Why not? Yeah, exactly. No position in it. I don't really, I did obviously yesterday, so that way too soon, spatsy had the same thing.

We sold it weight too. Same way. Underestimated the power. I can't believe it. If you're holding the stock and still holding it from $10, you are an unbelievable. Diamond hands. Yeah, you got an 800% gain on one day. That's incredible. Yeah, just GWAC. There's also H U N fun where somebody somewhere on the earth in an article in USA today from a year and a half ago about the, the Trump, the Trump campaign app partnering with Phunware, and now fun is going to the moon.

Apparently just speculating that Trump might do something with Phunware, just speculating, just a speculum. Trump market is back here. I mean, now you've got to look in, you know, You know, we, we obviously have this Trump market for awhile. You know, we took Trump stocks, Trump stocks, and this was infrastructure.

It was different things, you know what Trump is going to help with. But when he got in, in 2016, I mean, so now you've got to look at any potential rumor that, oh man, you know, it's this one over here or a mention or something. I mean, do we have to, re-watch the Trump Twitter feed as Trump tweeted about this stock or he can't tweet, I forgot he's gone the whole point to it all.

How do you see what Trump is saying right now? Is there any way to see what he's saying? Or this is the whole point that the stock is, we're going to be able to see what Trump is saying again, and he sends out statements. He sends out statements. Um, Hey, uh, w w well, let's try it. I'm trying to bring on cutting click here.

Try to get his camera working. Uh, and now I want to trade in this thing. He'll be back. This little guy have worked really well. I mean, he such an uptrend, you know, that'd be, was probably just chase. I, I don't know if Kenny's camera is working, but I put. So I want to bring them on and I think, oh, there it is.

There we go. Kenny Glick. Good morning, sir. Good morning. What's up? Y'all have you ever seen a stock move like this and one day eight, you know, like a small DWC back, first of all. Yeah. Well, I, I just rolled in from Colorado, so I, I don't really know what the hell you talking about. What's up, I'm studying about Trump, right?

CWAC is what we're talking about. $10 back yesterday. It's an $87 stock. 24 hours later. 10, your friend has the warrants here and 8 cents. I think he's up 2.9%. Million percent. Yeah, it was 50 cents in the warrants this morning. Just for fun. DW w then it just come on. We've seen it before. What about, what about broadcast.com?

They will get a stream of Victoria's secret models on the internet for the first time the stock went from eight bucks to 220, then. So I've seen tech bubble. Yeah, I've seen it before and again, why not buy it now? Because 1750 gets you 2020 to you. 22 50, 25, 30, 35 40. If you get into the fifties, generally get to the eighties.

If you get 20, why 2120 then two 50 today. No. No. Why not? Why wouldn't it. It's why not two 50 today. It's a good question. I mean, I'm not coming in fate and then I'll tell you that much. I'm not going to be the hero faith and this one. Oh, I know why. And not for nothing. It just broke V Webb at 77 bucks. So I bought it.

So it's blue lines for me. I don't care what it is. You, you, you give me momentum to give me a break. 70 sevens getting me one 20. I'm looking for one 20 right now and my stops 80 bucks. So I'm, I'm risking $3 to make a hundred and 140 points on the trade. Why not, this is the environment we're in. This is 2021.

This is the new normal, as everybody loves to say, I've seen this, I've seen this movie and it's just better this time. It was 99. It's better this time because there's actually more fluidity. There's more liquidity. There's more reasons to get involved in this casino. It's a government sponsored casino this time.

This is fantastic. And there were no commissions, Kenny. Exactly. So, I mean, I wake up in the morning. I press a button. I buy something at 77. It's at 93 now what's to complain about, but everybody seems to find a reason to complain. Let this be the new way we can. I love it. This is the greatest moment of our lives market.

This is not knowing about anything that we're buying letters, prices, blue lines and Ahrens lines. This is my dream come true. And I'm not even trying to be funny here. I was sitting with Kenny coming on. I'm like, I wonder what crazy stock. I wonder what's going to happen for Kennedy, you know, because, uh, this coincided with the workhorse.

And then I was like, so I was, uh, this was before I saw you on the schedule coming on, uh, for Friday. And I'm like, oh, wonder, what's going to happen and wonder what's going to be though what crazy thing that is going to want to talk about. So, uh, but it's, it's a it's well, metal market, right? It's the best way to put it.

Absolutely. There's one of these every day. Look we had a, we had, we had a biotech stock or P H will that ever get back to 77 bucks? No, but it went from two to 77 that day. You got Alf, you got orf. I got a list of a hundred. You know, and then you want to go back and talk about a Ford, Hey look, Ford options.

Two weeks ago was a 300% move, a 500% move. So it's all about where you look, you know, you get 10 cent move on a 12, $15 stock that hasn't moved in, you know, 20 years you make 20 times your money on a Ford option play two weeks ago. So they're out there. This is just, you know, more exciting. And which you what'd you think it was good to go?

I mean, I saw it on the, on, I got off the airplane and we were talking about, I'm like, oh, this is gonna be fun tomorrow. And here we are. I mean, this is insane. Um, Kenny Glick, Phyllis nor member was the first he brought us Nick, the Nicholas back before that converted last may last June, 2020. He was on that train earlier.

So yeah, you can, he just not care about. The company that none of that you don't care, you just care about the chart. I did. I did care about Tesla and by the way, we dug up the article where I called it for it to go to 4,000. My call was, this is going to be one of those stocks where it's going to get to a point they're going to split it and everyone's going to buy it and bring it right back to the same price.

So my call was for 4,000 we're here. This is it. So if Tesla can go from $125 a share to 4,000, where did we lose the idea that any stock could do that? Now, any stock can do that because the, we have now taken over the market. We personally, we, these the, the internet people have taken over the market and it's about time.

We are controlling. It's not Goldman Sachs upgrade again, downgraded by the way, let's give a great, never forget the Goldman Sachs AMD downgrade of AMA, uh, Goldman Sachs, downgrading AMD three times. Nobody knows that. Nobody knows anything you join in, you have some fun, don't get greedy. That's what it comes down to a little greed, a little bit of greed.

A little bit of discipline goes a long way. Don't be too greedy and a little knowledge of what you're doing and you can join in on this frenzy. It's it's the greatest time to be a trader in the history of ever phone is to find the idea. So you're just using scanners or using Twitter or wherever you find the next DWC.

I'm just looking at the percentage gains. It's always coming out of some $4 stock that goes from 80,000 a day volume to three in the morning. Right. And then suddenly that 3 million shares turns into a 40 million like BBI G BBG. I still don't know what they do. The tech talk of India. Great. I'm all in.

I'm all in. I'm playing it up. I'm playing it down. It has options. broke there. Like you get out usually when the momentum breaks, don't you. Right. And then, and then I wait to see if it, if it, if the pump does not become a extreme. And just go away, like the orf at we're already alpha for an example, but then the volume comes back.

It wakes up because the shorts and again, I'm a shorter, we always think, all right, it's going back to zero. That's our mantra coming back. And then when it doesn't go back to zero and gets that life again, the shorters who are still, you know, waiting for it to go to zero, which I don't understand why they short a stock firm at $4.

What's your end game, four more points, but they get caught and they get squeezed again. And it's a lot more fun, you know, sometimes it's more fun the second time around. Are you still in BBI G? No, that one, that one, I, I, I luckily got out. I heard there was news coming. I don't want to be involved when the stock, when everyone's thinking the catalyst is going to be good.

It's not. When the catalysts that are good are the ones you don't know. And then, Ooh, look at me. I'm surprised let's go like this thing when everyone's thinking the cattle is going to be good. It's never good. It's never good. So I got out and apparently, you know, I have, I have a call spread on it because again, when you can lock yourself into a limited, limited game, a limited, uh, you know, neck limited, possible loss, then you can play these stocks, but never, never owning.

I own Ford right now, Ford SOF. I, I own real stocks. The QQQ SOF and Ford. That's my portfolio right now. And I'm loving it most. The day trading is back. I trade every day. I've got my, my team. I've been showing them the V whap and it's been working extraordinary. Earning season is our time to shine. And it's been, it's been pretty much the greatest year of AIPAC.

Since 1999. No, no joke. Okay. So just to play devil's advocate here, what would you say that he will to like, well, look what happened in 2000, right? What happened in 2,002,000 was different 2000. It wasn't that the market went up. I made more money in my, my career on the way down, because when rational thought takes over, even for 10 days, 10 minutes or a year, I love shorting.

And that's when you really get an idea of where stocks going to go. And that's when your skill set comes into play 99. Everybody thought it was this great year because the market went up every day. No, I played the crash, but this is, this is the best trading I've seen because there's that much more activity.

There's liquidity. Like I've never seen, I've never been able to trade pre-market like this. I still don't trade. But trading pre-market just around V web with the volume coming into these $3 and $10 stocks is an unbelievable why invest in the stock market right now, when you could buy a $4 stock that goes to eight before nine o'clock and then it goes from eight to 50 in the regular session, and you just kind of manage, you're just managing.

Realize what your trading, you have no intentions of owning this thing when the trade is over, get out, because it's generally going to get a lot more. This is kind of one of Nick's name. I was young obviously, and, you know, 1999, 2000 2001, but I can kind of remember this same thing. Like I can remember, remember Todd sitting beside us Juul and the parade office.

And he was playing just like Kenny. He's like, well, you know, I'm buying Amazon because you know, if it gets, you know, you know, if it goes to, you know, $80 and it goes to 85, and then it goes to 85, we'll get you to 90. And he would sit there and he'd make like 20% on Amazon. And this was the way Amazon was trading back then, like every day.

And I'm like this guy just, and he was just trading the momentum a lot, like Kenny would do. So it was like that environment times, like there was like a stock, like DWI. I shouldn't say we never seen it. We saw this all the time back in 1999 and 2000. Do you remember those days? Th this that's why? Look, I'm the green.

It's not because I seen the movie before and now I have a skill to appreciate what I've learned for the last 25 years of doing this. I'm telling you with as my sort of justice and my, my, my, my truth teller, right by my side, my head basher, if tells me to get out of some of these momentum trades and I ignore it, I deserve to lose my money and that's how I'm playing them.

And I played every single one. You haven't, you can not name a stock. That me and my crew were not involved in this year, not one. And we traded them pretty much perfectly, although the one, the ones that get halted and they come. And the whole three days later, and you're screwed if you just tell us thoughts.

Well, that was orf. Yeah. Some people are queued up by that. Yeah. And yeah, we definitely got morphed, but most of them there's such liquidity that you can get out and yeah, you're not going to catch the top or selling in the moot we're selling into the move. And even when they're crashing, you're covering on the bottom of, you don't know when it's going to turn around and get squeezed again.

But right now, I mean the skill set that we had, and I'm telling you guys, if you don't use . Um, and I gotta, I gotta get out to another seminar because I got to talk about what these guys are doing right now. So I've been doing, I've been doing a lot of morning shows lately and showing people how you want to trade this market.

Use the VUS. You there's a lot of different logical ways to look at it, but more importantly, guys on ham, there's a contest. I'm up for financial influencer of the year. They're using bots against me. I need you last night. Send me put the link in the show, helped me win something without having to pay somebody off, because I just went from 200 views, 200 votes to 3,700 votes in, in a day and a half.

He's paying them. They're not allowed to do it. They don't want me to win. They're going to steal it from me. I know who's the best influencer. I influence everyone. A lot of people say that in that a good influencer I've caused them a good influence, their influence. This is, I was wondering to put your Twitter handle up on the screen there.

So is it on your Twitter? I'm going to put it in the room right here. Hold on a second. Okay.

I'm the guy that's wearing criminally negligent. T-shirt that's my, that's my mantra. Criminally negligent. Somebody, somebody called me that once, about eight years ago and I went with it. She said, you really shouldn't say the market's never going to go down. It's kind of criminally negligent on your. Is it, where are we now?

Well, the queues are up 300 points since that conversation, Gail, if you're out there listening, not naming names, that name and names, right? Not naming names, but this is it. People, if you are losing money in 2021, call me, I will save you from yourself. I feel like I need to be saved right now, man. We love it.

One more question, because this is where I run into trouble. I, you know, the entries and I do well at the entries. The exits I've always sucked that out. I always sell too early, you know, like I'm in DWC and I saw way too early audio hold for like an eight hotter percent gain is a possible yes, you sell into the move and then you have, what's called the F U lot.

That's the lot where you don't care and you let it ride. You got 800 shares and you sold in 5, 10, 15, 20 point increments. You got that last. Then you say, yeah, let's see what happens here. Maybe it does go to one. Yeah. That's the only sizing key to holding. So you've got size and then slowly, you know, your

piece at the end, you know what happens? It comes all the way back now. Yeah, the last lot, the last lots that I don't care a lot, but my God, this is, I didn't think we'd have these conversations again. Thank God we are. It's fantastic. I got to run. I'll see you guys later. Let's come back to this one next week.

Definitely. Yeah. Kenny, go look everyone at hit the bedroom. Here's the Twitter handle. It's up on the screen at hit the bid radio on Twitter, uh, worth the follow up chat was all over that they loved him. Uh, so, oh, we always good to hear from Kenny let's let's move on here. Um, Beyond me, what the hell just happened to be on me?

Go, go to it. Okay. Hold on. It's getting orf need is getting orf right now. So they just, they just pretty reported. They were not on the calendar. They came in to update the third quarter and the update is not. So they had given guidance. They had given guidance. They had given sales guidance for the last quarter of a range of 120 to $140 million.

They just, now this morning, like a minute ago, came out and said, oh, forget the 1 21 40. It's actually going to be like one oh 6 million. Gross dock not growing. And now you're breaking down through all support levels. So there's some certain stocks I love buying the dip on, but when you take out and we've talked with 100 support and beyond me, this was the level of all levels.

So you got the April 29, 86, the may low 142, the recent October load, $98. And now you look at it through all of that on terrible guidance. Old resistant or old support, 100 becomes new resistance. So keep that in mind. If you're trading beyond me today, I would think massive epic, super duper as Joel would say resistance up at 100.

It's a nice short opportunity that gets up to 97, 98, 99. We can somewhat limit the risk. That's 90 4:00 AM a little bit too far away from my short, if somebody was paying attention and selling it through that good job, obviously because the stock is significantly low, that catching it, going through the level bounces back to that level, I think would be a good selling opportunity.

So ugly. I will not be buying the depth and, uh, beyond me today, uh, your, your next monthly level is, uh, 88 51. That was your may two 20 loans. So, uh, we're only five bucks away from it. And, uh, boy, just quick, it had to be quick catch the news on that. Of course, Dennis mentioned a resistance, but uh, that's one monthly, low 88 51.

If you're looking for a little bit more on the dump.

So we took the show away for a minute, just because of that. I was trying to skip over Intel too, because I own some shares of Intel in the longterm portfolio. And man I'll use stocks value investing is just, it is just been top. You keep thinking, oh yeah, value investing is back and it was looking good for a couple of months.

Value investing was coming back. This market is driven by story. This market is driven by hype. This market is not driven by PE multiples. And if you're coming into a stock thinking, oh, it's pretty cheap. Cheap stocks tend to get cheaper. A K a I B M with the IBM move yesterday, I looked at my Intel shares and I actually thought about selling them.

And just for the simple reason is that they're not liking value stocks at all right now. Intel quarter actually wasn't that bad, but it doesn't matter. It's not a sexy story. It's not something that everybody wants to go into. It's something that analysts are definitely going to chase price on, which they all do this morning.

The quarter wasn't that bad, but it doesn't matter. It's getting hit. And now you have, you know, the herd effect because every analyst's downgrading the stock today because they can't think for themselves, they just have to come in and downgrade the stock after the stock moves down 10%. Thank you all analysts who downgraded it this morning.

Um, you know, it's just it, and obviously I'm a little bitter about it because obviously I own this in the longterm account. Um, I've been all over it. I bought it 53. It was looking okay. 56. Now it's a fit. I don't know what to say. It actually, it is a cheap stock, which cheap stocks get cheaper. I guess he just got a trade story.

50 bucks. They're terrible. Uh, you want to give the numbers? Are it really does. It was a sorry. My, my, my computer, my computer is being really dumb right now. It's kind of, it's being freezing up on me. So I'm sorry if I'm breaking up, but, uh, the headline numbers actually weren't terrible, but it did just, I think, throw the kitchen sink at this.

As far as all the bad news was concerned, they said that they, they guided that their, um, or their data center revenue, uh, fell short of estimates and they guided that down cloud services that guided that down. Uh, they guided the gross margins down. They said the gross margins are actually going to fall for the next, like two to three years.

They're going to keep falling. And on top of that, it's going to be bad for two or three years. They did this before Intel. And that was your clue. And you know, it gets forgotten and you know why it'll probably get forgotten again. And there'll be a time where, you know, it'll pop back up again, but it seems like, you know, and we know a support, a huge support at $45.

So it's $5 lower than this, but you can't say stuff it's going to be bad for three years. No. So no, to all the CEOs and CFOs, and everybody's on these conference calls, if it's going to be bad for three years, don't project it out three years because it's not going to, to wonders for anything. And you know, let's be honest with what Kenny just said, nobody knows anything.

You don't know where the hell you're going to be in three years. And this in this world, supply chain, all kinds of different things. Nobody knows where we're going to be in three years. So don't even try to project that far out. So I want to bring it back to Spencer. Oh, sorry. No, I mean, I'm happy that on top of all that the CFO is leaving, so that's never a good thing.

Never goes out, even if it's, even if it's on, even, even if it was known before and it's never a good thing. We had that Colby Howard on. Remember when, uh, they, they switched, we never followed up with him. He's the one that analyzes the changes in, uh, in the C suite. Maybe we should dig him up on this, but you did get a bounce off 50 bucks just cause it's a, you know, a psychological level.

But if you look at the bottom right chart, man, or man net $45 area, look at all those monthly lows. One, two, man, there's at least a half a dozen monthly lows. Don't know if we'll see that 45 yet today or will say though, I mean, it hit 50, it's bouncing, but it's not like people are, you know, the reason it's not bouncing is all the short term traders that picked it up at 50 0 5 50, 10.

They're just flipping it out. Uh, so. No potential upside in this one. I didn't even look at this area right here. 50 84 is, uh, is a resistance. I know I'm not buying the dip. I own it. That's my book. And I'm not buying the same here. You have it still too. Don't you? I don't know. I think maybe we should just stop diversification and just start going all in on the hot story of the day.

That's what seems to be making the money. And that's a little bit of sarcasm involved. Obviously. I've always been a big fan of diversification. DWI. See, I think Kenny might've just got stopped out on that. It's down to $77, but hot stock of the day. So that's what I don't get. You know, like, you know, it's a strategy and I know Kenny is very good at trading the momentum, but when things are like that, you get, you get these stops and put these train stops off.

I always feel like I get stopped out. I mean, you know, and this is, you know, not my cup of tea trading, a stock like GWAC. You guys know that I'm a relationship based trader, but I'm looking at DWC and I'm like, okay. I went to 93 and now it's back at 79. Now I'm stopped out. Now what often happens is the natural pull.

You can stopped out when it's falling back and now it starts climbing. And then it's out a hundred later on. You're like, well, what the hell happened? I lost, you know, I got stopped out and the thing continued higher. It seems like, um, when I've trading those kinds of stocks, which is maybe why I shouldn't trade those kinds of stocks is I always get stopped out.

I don't know if anybody else in chat feels. Um, my computer is acting funky right now. So I apologize if I don't find me, but there there's a couple more earnings we can hit on or we can just go, go do some ticker time here. I mean, there was some, we had Chipolte late last night, we ended up, we ended up, we had a couple more big, bigger supports.

I don't know where anyone else wants to go. We can just go, go to the chat. Um, but I guess, I guess maybe we could do to pull away. Cause it is, it is one of the bigger ones, uh, to report last, uh, from last night and their earnings per share B their sales B their comps were up 15% year over year. Uh, which I think was okay.

They said they're raising their prices, I guess. Not, not to be surprised with that shocking. Oh yeah, no, 2% inflation though, as the Cleveland fed was saying, oh yeah, we're running a little bit. We're we're right there on target with our 2% inflation. It's just reduction. $1,800 pack. This is, this is, um, can't really give a lot of F uh, put a lot of emphasis on a pre-market action now, but I got a pretty good feeling.

This one, just this trading range that we've been in for quite a while, where are busting up near the upper end of that trading range? 1778 was the bottom 1870 was the top at 1849. So it's been in that range for a while. So I kind of go with the momentum, if it can bust above 1870, try and get back half of this move under the 1778.

We're still like a hundred bucks away from that. Uh, you got some room, not room on the downside here, but, uh, the restaurant. Yeah, I just wanted to check on, um, what was the, was it breaker? Was that the one that got it? Yeah. It tried to come back that day, but boy, just, they set the bar low though for, to set the bar low for a lot of these restaurant stocks, because they said a lot of bad stuff and you're right.

It didn't get, you know, and a lot of those other restaurant stocks actually did bounce back, DRI DRI I trade down like 1 41 in the pre-market. They won't see it on the chart, but it was, and DRI is trading higher here today and got it all back. So it actually, so slowly ended up being a buying opportunity for some of these restaurants docs.

I was even saying like Starbucks, which hasn't really moved since I set up, but I still think there's concerns there though. So I'm not going into those sectors. I think there's easier money. Obviously. There's easier money as we were just talking about, if you just throw caution to the wind and chase the hottest stock.

But, um, I just think, you know, there, it's not over for the supply chain problems. So despite Chipotle, you know, looking, you know, okay. Like didn't have any issues. I don't know that they're not going to have issues going forward. I don't know that I want to jump into restaurant too. Great. A couple stocks chat.

What about PayPal? Let's talk about that PayPal move yesterday. That was something else. Well, they can't stop hitting it. So this is a serious move for a love to stock. And I mean, PayPal is very loved and that certain point in time you probably do think, okay, one does the Trump news change their opinion?

I don't know if it does, but does it possibly does the snap news even, you know, like not so much the Trump news like that, wasn't good for it, but the snap news, does it change their opinion on Pinterest? Because they're all related. I mean, if they're sniffing around here and they see, and they see, you know, Snapchat and Facebook and the advertising models, and I'm not sure how much that influences Pinterest, you know, I'm not, you know, the tech guru here, but I think there's going to be some impact.

I think like, okay, well maybe they don't want to pay $70 a share for Pinterest. I don't understand why they were doing it in the first place. I would like to have saw them go to the square route. But you know, you saw some synergies when you talked about it yesterday, Spencer. Um, e-commerce I don't totally get it.

The market obviously doesn't want them to do it. And stock price is spoken. I mean, there's no way PayPal would lose 30 points and lose, you know, over 10% in the last two days, if not for this rumor. So if, for whatever reason, just saying scenario analysis, if for whatever reason it comes out. Okay. Yeah.

They're there, they're out. They're not buying Pinterest. You'll see a huge rally and PayPal that happens. So just, you know, I'm not saying that's going to happen, but you have to always be prepared. So at a certain point in time, PayPal is a stock. I would buy the dip on. I'm not sure if it's a 2 44, maybe a way to get a little double bottom.

Maybe you get yesterday's low and it doesn't go through it. 2 42 98. But I don't know what you nibble on this one. Joel pay pal. Well, for years now is that you got a lot of people stuck. Right. And so, yeah, I mean, those are two big thick red candles there. So you got a lot of people that tried to pick a bottom and it, the last couple of days, the two 50 to 2 53 that has a work.

And then you also have to think about, you know, there's a lot of people still sitting on a lot of profits, right? I mean, look at the move. That thing had from basically a hundred to 200, uh, last year, and then you're still at your two 40. So there's big institutions, the big players out there they're, they're not, you know, their cost basis is lower and they're not buying it at two 50 open the solid at 2 52.

So I would just take the look on the monthly sear. Uh, your, your next monthly low comes in at 2 30, 360 1. So if, you know, if you think this is a, you know, an overshoot you risk, you know, while you're up a little bit, you're up a buck, 48, uh, you know, risk 10 bucks maybe to try and make 20, but it's just, it's got a lot overhead supply here.

I think if the news comes out, it will get a pop, but it won't, it's just not going to be back at it. I shouldn't say it's not going to be bad, but to get back to two 70 off the news we're leaking in here and the S and P status, you got some, uh, you got some, we were as high as we were, you know, so I'm not going to say it's news.

I'm like Facebook's down 16 bucks. Google's down 43, which is off the lows. You've got the Snapchat implosion of the tune of 21%. You have some of the other stocks, you know, are leaking. There's a few stocks holding us up, but I don't see anything being a hero here. I mean, You know, we've got, you know, Lowe's is trading up a Bach.

I mean, you've got a few things, trait and higher, MasterCard's up a couple of box. There's some rotation keeping us, you know, a few stocks up here, but I don't totally get why the S and P went up as much as it did on, on this. But, you know, it's hard to, this is this sometimes thought doesn't work. And when we're not saying, I like it's the buy the dip mentality that obviously brings us back always.

So, and that's not broken. And, you know, I think if I was to put a target on spy, like we already hit the Spencer Israel target of new highs. We hit it yesterday or the day before on new all the time. So which we did on spy. Congratulations, Spencer, Israel. I don't see this market. You're coming into a season.

That's historically strong for stock. You're coming into a season where money doesn't know where to go except stocks, because like I said, am I coming in and buying the TLT? No, it was a fantastic selling opportunity up at 1 46. We talked about that three days ago down again. So maybe I should just be a TLT trader, but I just don't where to go.

So I think that money.

I don't know, I call it for new highs. I didn't, but after that, I didn't put much thought into it. So I think you could see like 4 75 by the end of the year. Why not? Um, I don't see, I don't see an alternative. It's the only reason like people, you know, or, you know, you can have a lot of things that can be concerned about inflation.

You need to be concerned about rates going higher. You can be concerned about, you know, lots of things in the regular economy. If the markets chosen to ignore all that stuff for a long time. And I don't know where it goes. I don't know where the cash goes because inflation is scaring people who are just holding cash.

Personally, I hold some real estate. I own some stocks. I have a little bit of cash for a cushion, but I've, you know, like I said, on some of my cash portfolios, uh, while it goes up to 40%, I think I'm probably like 25. I'm still sitting with cash and I never go under. So I always have some cash, you know, you always want some cash for some cushion.

So I never ever bring my longterm portfolio all fully invested trading I'm on merge and I'm using, you know, break trading capital. So I guess it's not merged and using break trading, capital's completely different animal, but for my long-term investing, I always have some dry powder just in case, you know, you get some significant sell-off in a stock and you want to get in there.

I never liked being all in. So I range probably between 15% and like 40, 45% of my cash component, depending on how I feel I'm at 25. So I'm like, I kind of, you know, feel fairly confident about stocks or I would be up to like 35 40 right now. And you know, and it, you look at the economy and you think, okay, well maybe I shouldn't be, you know, thinking like that.

If interest rates is starting to rise, it's not good for stocks overall, but then I think, well, where are they gonna go? So it keeps me somewhat invested. I, I want us all to think about if we can, if we can brainstorm as a group. Cause I'm thinking more about this NAB chat news, right. And the implications.

Now let's talk about this. Cause now you've had two major companies. You had Facebook and you've had Snapchat, both come out and an out and outright blame Apple's new privacy update. You know how you can tell the app not to track you. You know, we've all seen that by now. Um, they, Facebook and Snapchat now both blamed that for, for, for poor advertising and lower, lower earnings.

So what other companies are out there that are app based advertising drugs? Companies, uh, not necessarily a subscription like match group and Bumble had great and had great days yesterday because of a different headlines from Google. But those are both subscription-based companies. That's how they make their money.

Um, maybe everyone has been to, um, I don't know the breakdown, but there have to be other companies out there that are app based that get there that derive their revenue from advertising that are also gonna come out and blame apple for poor performance. Chad saying like Zynga. Yeah, there were tons, but I'm, I'm having a hard time here thinking of them.

I know there are many more out there. Um, but, um, I mean, Pinterest, we just talked about I'm in Twitter. Hasn't said. I am scared owning Twitter right now. So for all these reasons, even for the Trump reason, because you can say, okay, well, Trump, maybe this'll never come. You know, maybe the product won't launch, but I probably is going to, he got Trump behind it, this huge supporters.

And there's going to be a lot of people that are going to go on that platform. So I think it is common ma ma maybe, maybe Etsy. Um, th the trade desk is maybe the trade desk. It's more of a ad infrastructure play. Um, I don't, I don't know if Uber makes any money from advertising in their app, but, um, Twitter, Twitter is an obvious one here, right?

If, if, if, if Facebook and Snapchat have both come out and said, yeah, this apple thing is, is not, it's not helping us. That's for sure. Then when Twitter reports, I think they report next week, um, You're probably going to say the same thing. I just pulled the trigger on that. So that yesterday had the, the Trump, uh, and I'll uh, how do you think can to better?

Yeah, this is good news for Twitter. No, that has happened in the last 24 hours is good news for Twitter. Nothing. No. So maybe it's because it's, maybe it's holding up, not bad. So you think, okay, well maybe it's going to shrug it off, but I I'd be very scared of Twitter right now. I don't have any position in it.

I would not want. Yeah. Um, I don't know if I'm sounding the whole, I mean, it's down 4% with the snap move, so maybe now obvious, obvious people can see that, but yesterday was a great opportunity there. Yeah. I would say thinking about it all during the day and then, and then I did it and then boom, there you has to have, but, uh, see, I mean, they hit it down to 60 bucks, got back up to 63, 50, 63 50 is going to be your, your short-term, uh, short-term resistance.

Uh, The bottom of yesterday's range share a lot of people. I'd like to see that at 64, 74, that's another, another two bucks away. No, see that happened in the day, the low of the move, the recent low, the move has been, uh, just under 58, 57, 64, but we bounced so hard off that 60. And I think I did at days like this, you know, anybody that like a wild man, my 62 foots, aren't going to do, you know, they're going to go off the board and then boom, they see the stock at 60, you know, they can scoop a lot.

They won't, you won't have, you know, next week will be a different thing. But I think that's what, uh, is adding a little bit to support, especially that 60. I mean, if you were, you know, short, uh, you know, the 60 puts or something, um, you know, a lot of, uh, a lot of optionality I think is going to dictate the movement here by 60 holding up in the pre.

So some good ideas, uh, from the chat, maybe roadblock, maybe RV LV. Uh, let's talk about switch gears for a second. I'm just trying to get some ideas out there. But a few people have asked about Sam Adams, Boston beer company. This one, this is interesting here. So their, their earnings per share for the last quarter was $2 97 cents.

Their earnings per share in the same quarter a year ago was $6 and 51 cents. So they went, their EPS went from states and a half dollars to under $3 in one year. Um, for a lot of that is, is input costs and inflation. Um, I didn't look too closely into the reports, so I don't honestly, and like we've said, craft breweries are not doing any good for the majors, like tap and Sam and there's craft brewery.

There's so many of these popping up it's competition. That's not going to go away. So the little guy has competition from the little guy, so that doesn't bode well in the longterm for it. What I will say. Is a lot of expectations for Sam are so utterly low, the stock has been cut in half in the last three months.

You need to hold, if you can hold this 4 96 low, which is the low from October, you got a chance to rally on bad news. So, but that's the key level. So if you're coming in here, I don't mind the setup you're coming here buying a 500 bucks, which is just take $500 right now. I stopped myself out of 4 95. So risk and about a percent.

If you know, it might see this one. Okay. It's it's, you know, let's just, you know, get it all out of here and everybody thinks. As this has done. And you know, maybe this is as bad as it gets. I don't know. I'm not saying for a longterm investment here, I'm saying for a trade buying 500, stopping yourself out of 4 95, isn't bad risk reward because you could see something like, this is one, surprise me.

If it's one that could shrug it off. If it goes down to 4 95 would say I'm wrong and move on. So I'd say I'm risking about just over at 1% right now, seeing if it can be one of those situations where a stock rallies on bad news, Intel is not going to do that. But Sam has had bad news for so long that it has a kind of tendency where it, so it has that potential.

Not saying it's going to, but it could, I don't mind the risk rewards set up to lose five. Right on the move. Um, another, another way to look at this too. And if, you know, if you, if you're not looking at that kind of strategy, you know, pick and you know, the buyers and lean on it, uh, the, let it show some strength.

And, uh, you know, a couple of times you bounced that the fight in our SWAT, we know why wait to buy it at five 50 when you can buy it at 500. Well, they may never get to five 50 and then may go to four 51st and then, you know, you can, you know, uh, you know, adjust your strategy accordingly. They have a taken out that low there's some other reasons that I, I liked that level as well, Dennis.

Ooh, what's that next level? No, you took out the 5 34. What's your next monthly low 5 87 95. But it just seems like it's been thick around his 500 for a while. You got some accumulation. Pre-market I have 5 25, but I resistance at the close 5, 17 22. For those watching the beyond meat has at least pause for the moment, but while we're on it, you know, we should have talked about tattooed chef PTC F, which is also treating down with it.

And, um, uh what's um, uh, OTL Y is, you know, any, any of these alternative plant-based plant-based companies are going to trade down with the, beyond me today. So watch those, if you haven't seen

and then T tattooed, if you have it up there and then OTL, Y Oatley oatmeal. I mean, if he just tasted the beyond meat burger, you probably wouldn't have bought the stock. You know what though, if you think you're eating all plant, it's not that bad. I told you my four year old kid would, I wouldn't need it, but I would say in w the other day, and it's the price, you know what I paid for my w I ordered it beyond me because I'm trying to eat healthier.

And it's not that beyond me, it's healthier, healthier options. I'm trying to eat less meat. I shouldn't say don't try to eat less meat fair, but do you know how much the combo costs me for fries pop, which I shouldn't get the pot from? Try it healthier. And the beyond the burger, but let's guess in Canada and in Ontario.

Okay. So, you know, uh, coffee, a fake meat burger with fries and a drink. Yeah. Um, Well, that's pretty good gas. It was 1295. Okay. $13 Cabo. for five bucks. I'll tell you that much. You get your root beer. Oh yeah, you got to get the root beer. You got a, and w that's the whole point behind me? Burger burger, you choke it down with a good tasting root beer.

I actually ordered an impossible meat. Paul stub out with a weekend. We were out to eat and I ordered an impossible, impossible. Meatball saw it tasted a little bit from, uh, Joe Brady. Uh, what's it called Joe? Uh, Joe, uh, it tasted a little bit off just a little bit. It was good, but it was just not. Not quite the same.

Anyway, uh, it's 8 58 here. We got a couple of minutes left. We've run through isle a lot today. Uh, I had some good guesses here, uh, as far as the, the, the w thing, um, they knew. Yeah. Yeah. Um, what else am I watching? Uh, as far as gainers and losers, we've kind of covered the big ones here this morning, man.

That'd be, I mean, it really came out of nowhere, pre reporting, never a good thing. I think people will actually look at, see the calendar of this morning. Is there anyone, even on the CA on the calendar, I should probably have looked at that before the show. I didn't see, uh, we had Cleveland cliffs this morning.

We had slumbers here this morning, American express. Uh, it's the big weeks next week. Next week, Facebook is Monday. Everybody's going to be watching Facebook now with, after the snap report. And then you have Google and Microsoft and AMD on Tuesday, Twitter on Tuesday too. So you're going to hear from the social media companies Wednesday up forward and McDonald's, uh, Twilio also Thursday got apple, Amazon MasterCard, Shopify store.

Friday, Exxon and Chevron oil day. So you got some big earnings coming. It's going to be excited. I don't, I don't own Twitter, but I'm, I'm I'm now I'm now scared for you. Uh, so I just put myself into being scared for you on Twitter. So I don't know if that means anything but 17 bucks come and get me.

That's right. That's right. All right, everyone. Please remember all the information from our share is meant to be used as informational purposes every day. Every show, not for investing or trading or even wife or dietary advice for that matter. Uh,

don't go to any w apparently in Toronto. Um, uh, thanks to Kenny Blake. Thanks to everyone in our chats. Hit the like button Joel, moving over right now to pre-market prep.com. We're going to hop easy symbols folks, man, take it easy on me today. Take it easy. I tell ya, but, uh, good, good job. Triple D Rick.

You're way out of it. I don't think I've had a good job at all today. The DWA, see, I have seller's remorse. Something like I've never had it before. I like Spencer, you bought a 13 sold at 17. You're like, that was a pretty good trade. I got to give some props to my buddy, Alex on Twitter though, before we go, he just messaged me.

He says he bought a bunch of stock between 1127 and 16, and he sold only one third at 45. And he's still holding two if he's still holding two thirds of the possession. So congratulations Alex there, buddy. Great whole that's unbelievable. Way better than I can do. I need to learn from you way better than me.

I, all I took was one red bar to freak me out. You should've seen me yesterday. Sweating bullets over that one red bar. Oh no, what's going back. Cause it went because it went from 20 to 17 and like. Look what it just did the DWA. See, I don't know if Kenny did get stopped out or if he moved to stop down or whatever, but you know, he's talking, you know, 85 90, he got the 93, it just traded down like 77.

Now it's back at 87. It's like, this is what happens to me. You know, if I'm in these Momo stocks, they know you say, oh, I'm going to trail my stop up. Always get stopped out. So it's like, you got to just not look at it. And like, and obviously then how do you control the risk? And I'm a risk manager at best.

So I don't know, you know, even like I set up a trade for and Sam I'm like, okay, I know where my out is, but that's moving slow enough where it's not going to like he and stop you out. Stocks are going like this. They hit every stop, everything gets hit. So I'm not sure maybe you got to go really wide with the stops.

I'm not sure. Maybe it just so caution to the wind. So it's tough. Just trade that stuff. Good luck today. Stay green.