PCE INFLATION & GDP SHOCK! SPACEX & MICRON PROP MARKETS?! — LIVE TRADING

[00:00:00] Speaker ?: Thank you. Thank you. [00:01:00] Speaker 1: We are here this morning. MU is absolutely ripping markets up, except for gold. Bitcoin did bounce a little bit on MU earnings, but MU is up to 1240s this morning, dragging everything else back up. We have other memory plays overseas going up as well. SK Honix and Samsung did really well overnight after MU earnings yesterday, which was an absolutely blowout earnings. A lot of stuff happening. SpaceX is back up to 160s. Feels good, man. Feels good. NASDAQ back up to 30,000. Bitcoin still at around 61,230. Gold, again, the last time I looked was under 4,000. Yeah, it's still at 3,997. So gold has gone under 4,000 and stayed there. Bitcoin did react well to this. But yeah, a lot of stuff going on in markets today. We got PCE and GDP data going live at 830 Eastern Standard Time. And markets are kind of crazy today for the other reason. On the upside this morning versus the downside yesterday, a lot of fears have been going on in markets. But it looks like MU so far has propped up markets here. It has propped up markets. Let's take a look. Here is MU this morning. MU is at 1240s this morning. So pretty crazy move for MU. Big gains here. And we'll see if this holds. But yeah. [00:02:36] Speaker 2: I'm not saying it's buoyed markets. [00:02:37] Speaker 1: Yeah, some might say MU did buoy the markets up. I'm assuming we're going to see interesting price action today. We did really well yesterday. We'll see if we can piggyback off of yesterday's green day into today. But yeah, so far markets are doing pretty good this morning, bro. Look at MU here. 1240s right now. That is a crazy percentage move. Relative to where it was yesterday at about 1,000 before earnings. But again, the implied volatility said we could see something like this. And they absolutely killed it for MU earnings yesterday. Like MU did really, really well. Really, really well. Let's go back into it. But yeah, MU did absolutely positively well. And it's honestly boosted everything. Gold still under 4,000. Oil is at the lowest point since pre-Iran war. It's under $70 a barrel this morning. This is basically where it was pre-conflict. PC inflation does drop. It's expected to be a high over 4%. SK Hynix ripped 12% overnight. But yeah, the prints were great. They showed revenue of $41.5 billion versus $35 expected roughly up. Almost $6 billion better than expected. EPS for MU showed $25 plus versus $20 expected roughly. Quarter 4 guidance was raised dramatically as well. $7 billion above the previous $43 billion. It's now at $50 billion roughly. For quarter 4 EPS guidance, also 30 to 32 EPS versus about 24, 25 expected. Record gross margins at 85% basically for MU and quarter 4 got at 86%. We also had some good things from the call yesterday. Chip supply stays constrained through 2027 according to management. That's with HBM 3E and HBM 4 fully booked all the way through 2027. Demand extending into 2028 for HBM chips. $22 billion in strategic customer agreement deals. $18 billion in cash deposits. CapEx raised to $27 billion. Fiscal year 27 CapEx to exceed mid $40 billion range for MU. So MU did absolutely great from its earnings here. And it is up to 1240s this morning. Hit 1250s earlier. Really, you know, round whole dollar number I'm watching for MU. But I do think this is kind of propping markets up right now. And this is good. I mean, we want to see this. You know, MU, I would rather see MU kill it with earnings than, you know, not do as well, obviously. Here's SpaceX, guys. SpaceX is up to 160s again. Hit 163s this morning. I believe the highs are 170s. It says it hit 225. Is that right? Oh, I guess it did. But yeah, SpaceX climbing back up a little bit. Better than it was yesterday, at least at 140s. So SpaceX back up some. You can see hyperscalers not really reacting the best for Google, Microsoft, or anything else. But yeah, honestly, crazy earnings for MU yesterday. They're currently propping the market up. Micron print of the century is what people are calling it. MU is up 17% in pre-market. The Kospi Index, which is South Korean, is up 5%. SK Hynix is up 12%. NQ is over 30,000. And this is all heading into GDP and PCE inflation data later. Let me say hello to the chat. Hello, chat. Hello, chat. How are you guys doing this morning? Ava, Zeke, Soak, Proxy, Jonathan, Steve, Arcane, World. Good morning. GJ was scary holding MU yesterday, but held through the wild swings. Hey, good luck. Congratulations, brother. You did it. You held through that. And I'm guessing you're up big. Lucas. Good morning, dude. Rooftop. Hello, George. Hello, Kaltenberg. Woot. Sorry if I'm saying that wrong. Bam Bam. Hello, sir. My dad's account. Hayes. Big Slump. Old Hack. Is that another George or the same George? I think it's the same George. Pew. Hey, what's up, dude? Good morning. Bobby. Hello. Nian. Good morning. D. Seton. Hey, good morning. DJ. I see you here. Good morning. Good morning. JS Meta. Good morning. Solar. Good morning. Alpha. Good morning. Dragos. Gamerfreak. Bald. Yeah, dude. Markets are... Palantiers. Elsway. Good morning. BestX. Good morning. BlackBerry reported earnings up 8%. Charity and Grace. Good morning. Good morning. Ruin. Fate. Sam. Sultan. Mustang. Good morning, guys. Hey, listen. It is an interesting morning right now. Look at MU today, guys. Look at the NASDAQ. [00:07:15] Speaker 2: Good morning, everybody. [00:07:16] Speaker 1: Britt is here. Britt is here. Look at the NASDAQ, guys. NASDAQ over 30,000s today, man. Wow. Let's see. I'm watching that big whole dollar number of 30K, though. I think that's a big level to pay attention to. We also have the previous closing price almost exactly at 30,100 for the NASDAQ. So we're going to be watching that today as well. I start every single morning at 6.15 Central, 7.15 Eastern. What's up, Checkerboard? May. Hey, good morning. Baked. Took a break, but I'm back. What's up, Benji? Random. Memory Chads. Hey, yeah, they're here today, bro. NASDAQ is actually starting to dip down a little bit. I think it's the one of Microscalers or Hyperscalers. Him, you're pulling back a little bit, but NASDAQ still technically green on the day. Hello from Australia. What's up, Richard? Daniel. Is it time to take a position in Palantir? I don't know, bro. I don't know. Palantir down to 112. What's the PE ratio now that it's this cheap? And cheap is relative. But what's the PE ratio now? I'll have to get a look at it. A lot of red in the last two days. Do me a favor, guys. Bump those like buttons up. Let's have a celebratory day for markets here today because SpaceX is doing better. MU is doing good. Hey, what's up, Tito? What's up, bro? Good morning, John, Britt, chat, and America. Hello, America. And Australia, apparently. And everywhere else. Absolutely. Hello. Yeah, good morning, guys. Good morning. Wild day here. Again, wild day. Yeah, conflicting reports overseas about Lebanon is going on as well. Not really dragging markets down, though. Markets don't care at this point in time. We are up dramatically from all the stuff going on today. And yeah, again, Bitcoin did bounce back. Look at Bitcoin's bounce on this move here, right? So look, here's Bitcoin. Here's where MU earnings came out. So MU earnings propped Bitcoin up to a certain extent. Look at that. So Bitcoin rising here. It was almost under $60,000. I think it broke under there for a little while yesterday. It's back up to $61,000 here this morning again. So back up to $61,200 roughly right now for Bitcoin. Let's see if that holds. But yeah, we got some overseas stuff going on. I hear somebody talking about BB, which is Blackberry here. Look at them up. Yeah, I see Adobe has announced Adobe Firefly Foundry, a new offering designed to support enterprise organizations seeking greater control over generative AI workflows and brand-aligned content creation. I wouldn't be surprised to see them get even more deep into AI. I think that's the move if you're Adobe. Gold, guys, still breaking down here. Look at gold. Yeah, I mean, pivot or fade, you know. Yeah, something. They better do something. Gold, still under $4,000. This is really where we were yesterday, though. So this is not like a shock to see gold here. Blackberry still exists. Are you guys bullish or bearish on the numbers today, guys? Bullish or bearish on the numbers? Bullish or bearish on Chevron? Well, I mean, it all has to do with the price of oil, but... Yeah, I love this day. What's up, Sean? Yeah, it's a good day, brother. It's a good day. My system is calling a buy. I'm going to buy. I'm going to do a poll right now here, guys. Are you bullish or bearish on today? I'm going to say for equities, just to keep it easy. Are you bullish or bearish for equities today? Bull or bear? We'll do another poll closer to GDP and PCE, but are you bullish or bearish for equities today? Hey, what's up, Charlie Show? [00:11:05] Speaker 2: Go ahead. I was going to say, also, I'm pretty much always bullish on oil companies. It just depends on how bullish. [00:11:12] Speaker 1: Yeah, I mean, it has to do with the price of oil, too, though, with those, but especially right now. In the middle of the conflict, Chevron, for example, got up to 214s, 215s. It's at 170s now as the price of oil has declined. So, you know, they make more, obviously, when oil's up, but it also kind of curbs demand with oil being so high as well, to a certain extent. [00:11:32] Speaker 2: Yeah, it also raises production costs and stuff, so you've got to take that into consideration. That's right. That's right. [00:11:38] Speaker 1: Wonder if the oil export was damaged. Bullish Micron, bearish rest of the market. Yeah, but Micron is kind of propping up the market here. Look at NVIDIA. NVIDIA is one of the things that is not getting propped up because, I mean, they are up. Don't get me wrong from MU earnings here, but not up as much as a lot of other stuff. They're only at $200 a share for NVIDIA. And remember, Micron piggybacks off of NVIDIA chips, and the chips that NVIDIA produces, they need HBM. And so if it's sold out through 2027 and beyond, that can be kind of a bottleneck, so to speak. So it's something that, you know, we should consider and watch and, you know, move forward. Do you think MU will get a new price target? Maybe. Yen is about to break highs. Unfortunately, I'm embarrassed today, given the upcoming data and my jaded opinion on what big money does ahead of quarter two earnings season. When does quarter two earnings season start? Let me look. So I know we had MU earnings. Usually quarterly earnings season starts with, like, I would say bank earnings first. So we got to look at when bank earnings are supposed to come out. Let's see. That's really what I consider earnings season starting for these. None. None. Going deep into next week. I see Nike Tuesday. Nike's not doing good either, bro. Probably be rotation. I see General Mills. Others. So it doesn't look like we're getting any earnings until after the 4th of July. Not any major ones aside from, like, Nike. So, yeah, it looks like the earnings season. I'm sure the chat probably has already answered me as I'm digging through this. Pepsi, we get it Thursday, mid-July. I'm guessing mid-July. Delta Airlines. Bastenal. Aero. Okay, so, yeah, earnings season starts really mid-July, like July 14th or so. But look at the NASDAQ, guys. So the NASDAQ is actually falling down a little bit here. Maybe going red on the day. It's up big, though, still. Over 30,000. Remember, we were at 29s yesterday. So the NASDAQ running up. Yeah. We were at 29s yesterday. But, again, guys, it is a big day. We'll see what we get today. But very important day. GDP and PCE inflation data. Those datas are expected to come in hotter than people want them to, of course. But I think with the decreasing aspect of oil prices here, you know, maybe this is not going to be as bad as people think. This one's for May, though. So this is a little delayed. This one's for last month. But PCE index expected at 0.5%. Core is what people pay attention to, though. And this also shows secondary effects of oil. Core year-over-year expected at 3.4%. Core month-over-month only expected at 0.3%. But, again, year-over-year PCE expected at 4.1%. That kind of mirrors CPI, which showed up at 4.2% last time. So we'll see what yields are doing this morning as well with all the stuff going on here. So let's take a look at two-year Treasury yields. Yields are basically where they were, honestly, yesterday. We saw some decreases in yields yesterday. But they haven't really moved up this morning. Maybe they're waiting on PCE and GDP data. We also have, again, the finalized version of quarter one GDP. A lot of people have talked about the U.S. entering a recession. And, again, GDP will give us some type of look at where we're at in that regard. So, again, PCE coming out, GDP coming out. It's expected at 1.7%. Previously, it was 1.6%. So it is expected to jump up. We also have durable goods and jobless claim numbers. All going live at 8.30. So at 8.30, we got a lot of stuff to talk about. Now, remember, headline inflation is seen rising 0.5%. And it's seen in headline year-over-year expected to go up 4.1%. Previous was 3.8%. Core is seen going up 0.3%. Previous was 0.2%. Core PCE year-over-year expected at 3.4%. Previous was 3.3%. Now, remember, after CPI and PPI numbers, Nick Tamaros highlighted that May's PPI and CPI in hand, forecasters expect Core PCE to print around 0.35% in May, which would raise the annual rate to 3.4%. It would annualize six-month rate would climb to 4.1%, highest since June of 2023. And these are after we've had pretty hot CPI prints. There's still risks ahead. However, if the talks continue and they continue to go well, you know, we should be okay. But if talks deteriorate, if the conflict resumes, or if the return of oil through Hormuz is slower than expected, you know, we might still have risks and inflation data ahead. After the last FOMC, which was Warsh's first meeting, there's been added focus on inflation from Fed officials. The statement was completely rewritten to remove Ford guidance, but it did stress that it will deliver price stability, speaking about the Fed. But again, the updated rate projections and the summary of economic projections in the dot plot showed hawkish sentiment, you know, bad projections and more rate hikes than expected here. And with that said, we can look at the CME watch tool to see where we're looking for all this stuff in terms of rates here. Still at roughly 34%. It was 32% yesterday for a little while. It's back up to 34%, but it was 36% yesterday at the open. So it's basically flat from where it was yesterday, although down a little bit, you know, all things considered. [00:17:03] Speaker 2: Yeah. Earthquake. Yeah, I saw there was like two earthquakes, I think. Two really bad ones. Yeah. Well, I hope everybody's okay. [00:17:13] Speaker 1: Well, my death toll, I think. But yeah, that's unfortunate. I see Tino asking, John, quick question. If numbers do come in hotter than expected, what does it do to the Dow, bull or bear? I mean, it's probably bearish, you know, but I think Micron and others might prop things up today just based off of how big of an earnings report that was for MU yesterday. Like I said, I told you guys yesterday, MU would be the main event and it was 1250s from under 1,000. It was under 1,000 right before earnings. Like, look, it was at 991s pre-earnings. It is now all the way up to 1250 basically right now. So 1230s to be exact. So it is crazy. And this is going to move markets. This, a lot of stocks, especially in tech, depend on memory right now, especially in the AI push. So, you know, this is going to be really, yeah, really relevant, really important. Oracle. Yeah. What are the other hyperscalers doing? I know Google is still down. Oracle is still down to 150s. It's not doing that great either. Just supply bottlenecks is what making, is making people worried about that. Hey, thank you, GP. Good morning, my friend. Yeah. What's up, dude? How does MU affect the Dow? Well, I mean, tech stocks are included in the Dow, you know, and so it's going to have an influence over tech and in that regard influence the Dow. The Dow is less tech heavy than like the NASDAQ, especially in the S&P 500 as well. But it's still, it's still going to move with tech to a certain extent. Tech moves markets is really the way to look at it, right? So tech is going to move markets. I'm not an investment professional, as I always tell you guys, but don't get it twisted. Tech moves markets and with tech moving markets, it's going to move the Dow if it comes in at a shocking number, of course, right? So it just depends on what the print shows. We got a lot of data going out at 830. We got jobless claims. We've got durable goods. We've got GDP. We've got PCE. And so a lot of stuff is dropping at 830. But again, this is after the market's piggybacking on MU success. So we'll see what happens. But JP Morgan also said they turned bullish on some stocks. Bitcoin is back up. It rose on upbeat MU earnings on strong outlook from Qcom lifted tech sentiment, easing concerns over the AI trade. And so, yeah, that's going on. So you're saying the short MU? No, dude, don't do it. Don't do it. I mean, I'm not telling you to do anything. Maybe it corrects a little bit today. We had big moves yesterday. So, you know, I wouldn't be surprised to see if it corrects some today. Like, that's not going to be a shocking thing if MU pulls back a little bit. I don't expect it to give up all the gains. But, I mean, it's up a lot. It's up a lot. What do you guys think? Long or short MU right now? Long or short MU right now? Let me know in chat. Bro, these penny stocks are brutal for newbies. Yeah, dude, they're brutal for everybody, bro. Most of that market is just showing, like, yeah. I mean, penny stocks are sketchy, dude. I don't trade them. People ask me about a penny stock. I'll look at it. But I'm not trading those things, dude. Just too risky. All right. So I asked people, bullish or bearish on MU this morning? I see hold. Long, long, long, long. Definitely long, long, long. FOMOs will take it up. Short. Lucas. Long, long, long. MU going up from here. Long. Why short the strongest stock in the market? Yeah, I'm not shorting it, dude. Again, don't put that voodoo on me. All right, I'm not shorting MU right now. Don't do it. Definitely we'll get to $1,500 by the end of the year. Yeah, I mean, that's not a crazy look. I mean, we're up to $1,250 now. So the data comes out this morning, 8.30 Eastern Standard Time. And remember, the new chair, Warsh, did stress many times in his questioning press conference that the Fed is committed to bringing inflation to target. So if the Fed is hawkish, you know, markets might not like it. Markets might not like it. Although, again, though, most of the fears in inflation has to do with oil. And oil is back down to pre-conflict levels. Oil, if we take a look at it, guys, here's WTI, West Texas Intermediate Crude. It is down to under $70 a barrel here, which is a win. That's a good thing. You want oil down right now. Oil's been causing the 4.2% CPI inflation and more. And so oil being down is optimistic. The longer it stays down, the better. We'll see what the straight of Hormuz looks like and how things are getting through the straight. But again, you got to remember, guys, oil is one of the single biggest things to watch with regards to inflation. And it is easy down some. So maybe we'll get less inflation concerns. Oil was under 60. You're going to have to wait a while for a dip. I bought more yesterday and more today. So you're saying the long oil? No! Oil was under 60 before Iran. Yeah. In the 60s is good, though. I mean, that's a win for oil. No, not yet. MU was in a Brinks, needs a Brinks truck fleet. What's a Brinks truck fleet? You talking like rollerblading Brink? Or are we talking like, it's a brand of trucks. Yeah, I'm assuming. It's a security truck company. They haul money. Yeah, yeah, I know. I'm just joking. You didn't know. Oh, I knew, bro. Oh, I knew. I knew everything, dude. [00:22:30] Speaker 2: You don't know. Come here from Sikkim. [00:22:32] Speaker 1: Way AI. With AI, I know everything, Brad. Okay. Ah, okay. I know what you're thinking right now. [00:22:40] Speaker 2: Oh, yeah? [00:22:40] Speaker 1: You're thinking about cooking. [00:22:43] Speaker 2: Nope, not this time. You're wrong. [00:22:45] Speaker 1: Yeah, well, it was a good shot. It was a good shot. I knew. I knew. I knew you would say that. Oil under 60. [00:22:51] Speaker 2: At any given point, so. [00:22:52] Speaker 1: Yeah, the sweet spot for oil is between 60 and $70 a barrel. So we are technically in the sweet spot for oil right now. We'll see if gold gets brought back up here, though. Gold, man. Under 4K, although it is kind of holding. So it dipped down to $39.75. Yesterday. But it's still under $4,000. So oil is still a little sketchy. I checked the straight traffic a few hours ago. Looks like boats and tankers are passing five. Yeah, straight and four moves, traffic is getting better. And that's making people optimistic. It's one of the reasons, you know, oil is fading down. Now, we do have some Fed members speaking today. We got Bowman, Williams, and Goolsby. Bowman is a dove. We'll give remarks on bank supervision and regulation. Probably won't speak about monetary policy much. So, but she is speaking. We also have Williams and Goolsby speaking. I'll have to go see where they stand with rates. Where's the bottom for gold right now, guys? What do you guys think? Where's the bottom for gold? Gold, again, $39.90. I ask this every day. A lot of people think $35,000, $3,000, $35,000. I don't know. [00:24:00] Speaker 2: Last I checked, it's just broken under. Oh, it's back up. But it was briefly under $39,90. [00:24:06] Speaker 1: Yeah, it's at $4,000 now. So, basically $4,000. Brit's truck fleet. Yeah, not break Brit. Yeah, $2,500 for gold. Again, if gold gets down to $2,500, I'm buying it. I'll buy physical gold, too, if it does that. But, yeah, man. PCE inflation data today. A big data. [00:24:27] Speaker 2: I wish I had a truck fleet, you know? No offense, John, but if I had a truck fleet, I certainly wouldn't be here every morning. [00:24:33] Speaker 1: Well, dude, buy one, you know? I will. Buy gold, and in 10 years, you'll have a truck fleet. Maybe. You know, maybe in 10 years, you'll have a truck fleet. [00:24:41] Speaker 2: I'll share it with you. We'll call it eastbound and downtrucking, you know? Smoking the bandit. [00:24:45] Speaker 1: I like the name, dude. I like the name. Yeah, Oracle is down to, like, what? 112s? Or, no, I'm sorry. 160s? Yeah, Oracle down to 160 right now. So, Oracle seems cheap for a hyperscaler. Hey, what's up, Kiyo? Long John Silver? Yeah, listen. Silver, also fading, of course, down to 57s right now. Silver seems pretty cheap relative to where it was, you know, a year ago. So, silver, a year ago, was at, what, 35s? It's now at 60s. So, I mean, it's still up a lot in the last 12 months, but most metals are. Gold, with that said, did just break over 4,000. And, again, SpaceX is climbing back up to 161s here. NVIDIA, yeah, hasn't really moved that much. I see NVIDIA is static after MU earnings. It is static. $200 a share. Got up to 202s this morning. It's still green on the day. Its previous closing price is $199. But, NVIDIA not moving that much, probably because of HBM being sold out for an extended period. There's a bottleneck there. And, NVIDIA needs HBM to produce their chip. And so, yeah. I am bullish today, but I have only shorts. Well, figure it out, dude. Figure it out. I don't know what you should do, sir. Do me a favor, though, guys. While everybody's here, while we are all singing Kumbaya by the fire, this fire right here, you know. Hit the like button, guys. Hit the subscribe button. All right? Don't make me sing it. Don't make me sing it. Thank you, John. No. I will not. You know? I will not. [00:26:19] Speaker 2: Yeah, we're only 96 months. Come on here, buddy. [00:26:21] Speaker 1: Yeah, we can bump over 100 real quick. Today is super bullish. Yeah, I mean, look. MU is helping a lot of things this morning. We were kind of scary heading into MU earnings. I was worried that if MU even had a slight slip in their earnings, markets were deeply negative react. And I think they would have if we had even a small slip. But no slips for MU. No banana peels. No slips. MU is killing it this morning. Up huge numbers. And justifiably so. I mean, their numbers were great. Their guidance was great. CapEx was good. Validated some of the memory runs that we've seen. But yeah, MU is up. Here's SanDisk. SanDisk is up to 2200s again. What's up, Z-Man? What's up, Alf? MU didn't help AVGO. I mean, it helped it. Not as much as people might want. I mean, it's still under where the highs were yesterday for AVGO. But AVGO is still at 380s. Down big from their earnings report a month ago or whenever that was. What was that? Not a month ago. Almost a month. Yeah, like three weeks ago for AVGO. But man, MU has had a crazy wild swing here. The other thing, again, guys, NASDAQ is now back over 30,000. And 30,000 is right underneath us. We pulled all the way back down to the previous closing price and then bounced exactly at the previous close. And so if you do not watch the previous closing price on a chart, you're missing out on one of the biggest milestone levels intraday because people pay attention to the previous close, the red to green level. And we're basically there now. Hey, artificial intelligence, my guy. Thanks so much. I appreciate it. 7-7. Thank you, brother. Micron coming in like Superman. Saving the market, dude. You know, one pump at a time. Get your mind out the gutter. Micron is saving the market. That was a heck of a way to put it. Yeah. What is your view on Oracle at current levels? Oracle seems reasonable here. But again, I have no idea with Oracle. I think Oracle's been volatile lately. But it seems cheap here. What's the PE ratio for... [00:28:20] Speaker 2: Also ask what's going on with IBM. What is going on with IBM? Are they up or down? [00:28:28] Speaker 1: They're up. They're up pretty big this morning. Something happened this morning. Must have been some type of deal with IBM or something. Because IBM is up a lot. Let me see if I can figure out the IBM news. But yeah, IBM is up a lot. This looked to happen at like 4 a.m. market time. So, I'm checking it now. Amazon tests new system for warehouse staff check-ins with labor costs. Yeah, it doesn't look to be specifically just from MU earnings regarding IBM. Sometimes I forget I can just Google things. IBM unveiled technology for chips. It says packs performance leap and uses much less power. So, IBM debuted the world's first sub-1 nanometer chip technology. They unveiled tech for chips smaller than 1 nanometer in AI computing push. So, yeah. More AI push. Getting ready to scale quantum, people are saying. Yeah. So, some news for IBM. I like Google long-term. I think Google's diversified hyperscaler. You know, got a lot of different sectors of its business. I like Google for sure long-term. Not telling you to buy it. Not an investment professional. But I like Google. Especially at the current levels. Although, the only thing is the HBM bottleneck is the risk here, I guess, for it. But I do like it. Especially at these levels. I thought the call was at $430. The price actually would be like $415. I woke up at $4 and missed the train. No, it dropped at like $401. But, yeah. You missed it. We were streaming it. We covered it. Yeah, NASDAQ's still dipping down some here. What's the play right now? What's your guys' strategy for today? I mean, I'm assuming most of you guys are going to be waiting for PCE and GDP to drop. But, yeah. Micron, again, helping markets this morning. For sure. Yeah, so Micron's soaring. I see an article on Yahoo Finance. Boomers won't sell. Millennials can't buy. And that's probably accurate. Boomers got those low interest rates locked in. They don't want to sell their houses right now. Millennials can't afford them now. [00:31:10] Speaker 2: Yeah. Yeah, I don't know what it's going to look like. But we've got to free up the housing market. This is getting ridiculous. Well, it's hard to do with the high inflation. I was going to say, all of the same was, I mean, I don't know. I mean, I could probably name a few things that we could do about it. But overall, long term, I don't know. [00:31:35] Speaker 1: Well, we should lower interest rates. Yeah. I mean, we should lower interest rates. I mean, I'm not saying we should. If inflation starts to settle, I think we should. [00:31:44] Speaker 2: We've also got to start building new houses. [00:31:47] Speaker 1: The real problem is that interest rates for mortgages were very low for like 20 years. You know, like 20 years since 2008, interest rates were, you know, very low for a while. Even before that. And so markets got really used to like 2%, 3% interest rates. And then the hawkishness of 2020 happened or 2022 happened. The high interest rate environment, the raising of rates, you know, to try to combat the inflation we got from 2020. And so since then, the housing market's been in kind of a rough spot just because, you know, people were so used to paying and locked into mortgages. Just like that's the big dynamic to understand is that they were locked. They're locked into mortgages at 2% or 3%. Are you going to sell your house, you know, with a mortgage at 2% or 3% and instead take another mortgage for another house at 6%, 7%, 8%? Most people are not going to do that. And so what it causes here is it causes housing to be unaffordable. You know, nobody wants to sell their current mortgage. Nobody wants to get locked in a new mortgage at 6% or 7% or 8% at these high numbers, right? So that is kind of the issue here with housing right now. And again, prior to the conflict, I would have said, you know, let's cut rates. Let's bring them down. It'll take a little bit of time. Yields are going to influence things. But we'll have to wait for inflation to get back under control to really focus on housing. And I think they're going to be like that as well. I think they're going to wait for, they're going to wait for, yeah, they're going to wait for inflation to get under control first. [00:33:27] Speaker 2: Well, yeah, and I was going to say you are right about interest rates, but then you also have just rising base costs. You have a house that in 2000 or 1999 or whatever, you know, cost $140,000, $150,000. Now that same house is worth $420,000 or $430,000. I mean, that's not tenable. It's getting hit in both ways. 100%. And then you also have large institutions buying up houses for rental properties. And I think there's a bill that's been introduced to curb that. I don't know if it's made it out of, I think the house started it. But either way, like that's a big problem as well. [00:34:06] Speaker 1: Yeah, for sure. Well, I want to get rid of property taxes too. Don't get me wrong. I'm okay with getting rid of property taxes. The only issue though is that like sometimes that's going to make things more expensive in some ways as well. You know, so it's going to get passed on and I'm for getting rid of property tax, just to clarify, you know, but getting rid of property tax is going to make it harder for renters. It's going to make it harder for it's going to get passed on in other taxes, basically. Like they're going to compensate for it in other ways. Right. So while it's going to affect landlords less for sure, you know, it's going to, it's going to be cheaper for them. It's still going to get passed on in other ways. Right. So it's not, it's not a free thing. Like, Hey, yo, let's just get rid of property tax. But again, I support getting rid of property tax because I hate paying property tax. And I think property tax, the concept of it is ridiculous. I'm okay with it getting pushed in other ways, but it's, it's, it's not an easy solution. [00:35:02] Speaker 2: Same here, honestly, I mean, I understand that, that taxes need to be collected from people and I'm okay with it being done in other ways. I don't like the idea of a property tax simply because I mean, I, you know, I've been paying my, you know, my house off or, or whatever, or these 15, 20, 30 years, whatever your mortgage is. And at the end of the day, like I own it. Right. But apparently I don't own it because if I don't pay my taxes, you can just come take it from me for, you know, one year's worth of delinquent taxes. And I know people have the opportunity to pay those off, but still either I own my property or I don't. [00:35:35] Speaker 1: Right. For sure. You're basically renting your property from the government with property tax is what you're doing. And again, like I said, I freaking hate it. I freaking hate it, but it's, you know, it's been built into the system now. And unfortunately, and that's, that's what the sticky part of it. I think that's the hard part to get rid of. Anyways, guys. Yeah. MU here. Where does MU close the year? What do you guys think? MU is currently at 1235 right now. Where do you guys think MU closes the year? Uh, I'm sorry. I know that was a long segue. No, no, you're good, dude. You're good. Listen, if I cut you off, I'm not doing so because I don't think it was a good car. I think that was a good conversation. Honestly, I think most of the chat probably agrees with us too. Uh, a hundred by the end of the year. Get out of here, Bogdan. Your guesses are not good. You know, I'm just joking. Don't leave, dude. Don't leave. Please don't leave me. Uh, MU closes at 2,000 plus. 1,700 for MU. I can see that. Uh, yeah. I live in Texas, so we got high property taxes for sure. Uh, 5,000 euros. [00:36:37] Speaker 2: Texas chooses you. [00:36:38] Speaker 1: Don't make, yeah. Don't make me do the math. 5,000 euros. Don't make me do the math. It's too early. I do not leave. One does not just leave the beginner trading stream. Uh, gold to 3,000. I'm buying gold at 3,000. I'm buying it at 2,500, probably. 1,500. 1,512. 58. What a very, very specific number, Amber. Amber Zach says 1,000. That's what it seems like to me. 1,512.58, Amber says. Or Zach. I don't know if you're Amber or Zach. Amber Zach, Lawhorn. But, uh, whichever one you are. Great guess. Great guess. Uh, it's not your property tax. [00:37:24] Speaker 2: What's your dollar package of worth? [00:37:27] Speaker 1: Uh, they're telling me it's my electricity bill. Dude. Look, if I really wanted to brag about my house, I could. One thing I will say is the electricity bill is usually elevated versus normal electricity bills. Um, the gold guru said 3,300 is the bottom. Hey, what's up, Vegas? I'm lurking today. What's up, Jay? Hey, good morning. I see you guys. I see you. Uh, John, can you explain like you're talking to a five-year-old what's going to happen if data comes in stronger or weaker? Yeah, so, I mean, it's pretty simple. Inflation is, you know, inflation. And so high inflation is generally not good right now, guys. Low inflation is generally better. High inflation is generally worse. Generally, aside from very specific niche conditions, you know. But, uh, low inflation is probably going to be... Oh, no, I was just... I'm just going to finish explaining it. So lower inflation is going to most likely make markets optimistic and happy and, you know, excited. Especially with the decreasing aspects of oil recently, uh, higher inflation is going to do the opposite. Higher inflation is going to freak people out, probably, if it comes in higher than expected. It's all relative to expectations. You have to understand, data is already baked in right now. So markets are already pricing in what the expectations are, which in this case, on the year, 4.1%. Uh, core month over month is one of the bigger ones. It's expected at 0.3%. So not super high versus 0.2% last time. It's still up from where it was last time. But again, we're still in the middle of the conflict. It's Zach. It's fine. I don't have an account, so I just used my wife's. Okay. All good, Zach. Hey, great answer, Zach. Great answer. Uh, how much has previous PCEs impacted the NASDAQ? It's all... It depends on what the number is. It's not about, like... It's not about looking at one PCE and saying, hey, this is how all PCEs are going to go. It's more so looking at what the number actually shows up as. How much over or under the expected does it show up as? Like, basically, does it shock markets? Or do we see some cooling in that regard in inflation, right? Like, so it's all going to be relative to what the number shows. If we show up at a shocking amount over the expected, that's bad. The market's probably going down on it. I don't know if it's enough to drag markets all the way back down after the euphoria of MU earnings yesterday, which is benefiting everything. But, you know, don't get it twisted. A really high print here will probably negatively affect markets. You never know for sure, though. You never know for sure. We did a poll this morning. We asked people, are you bullish or bearish for equities today? 64% are bullish. I think that's justified today with MU. But yeah, 64% out of hundreds of votes are bullish today, according to the poll here. So bullish, according to the poll, 64%. Oil under $70 a barrel. Yeah, so oil at $69.70. And the previous closing price is right around $70 for oil. So I'm watching that level as well today for sure. Meta, yeah, Meta is getting slammed here this morning. Although Meta's been kind of back and forth, I think, right? But Meta's down to $5.50. Here's a 20-day chart for Meta. So it's still been in a net downward trend. It was at $6.40 back in May. It's at $5.55 now. So big percentage drops for Meta as well today. Gold is slipping a little bit here. Let me make sure there's no news or anything. I don't see the NASDAQ wiggling too much here. There's no news yet. There's oil. [00:40:55] Speaker 2: Oil's got the same $69.70s. [00:40:58] Speaker 1: Yeah, gold just went right up to that volume-weighted average price level. Look at that. Look at that VWAP area right here. $4,003. VWAP pushed it back down. It's now at $39.95 for gold. If I remember correctly, I think the PE on Meta is actually pretty solid. Usually, Meta has a decent PE. What's the PE for Meta right now? I'm showing 20 PE ratio. Trailing 12-month PE ratio is about 20. Forward PE sitting at nearly 17. So yeah, Meta generally has pretty good PE ratios. Historical average is about 26, 27 or so. Historical average is at 20 roughly right now PE ratio. So it's not bad for Meta as long as the numbers I'm showing are right. So what that means is that that's the price to earnings. That's what PE stands for is price to earnings. Like how much they earn versus what their share price is. Meta all the way down to $5.50. So PE ratio is probably getting better as it continues to fall. Hey, what's up, Boo Boo Bear? What's up, 8sec? I can feel today is a great day. A green day? I can feel it coming in the air tonight. That today is a green day. I can feel it. What's the red line on the gold chart? Like I said, sometimes my daughter and I will play ping pong. We'll throw on some Phil Collins. You know, get really serious about it. Gold at $39.95 right now. This red line and gold, I don't know. It's a historical support and resistance level of some sort. I don't know why it's on my chart, but it's some type of historical support and resistance level. It might not hold here, though, but $95. Maybe it propped it up a little bit yesterday. And you saved the NASDAQ. Yeah, it did. Microsoft and Meta need to raise cash for CapEx. It's cheap. Pull back to the bell, testing the ceiling. Yeah, I think it depends on the numbers. Again, I don't know how much the numbers are going to influence things today. It's going to depend on what they show up as. But Meta, I think, is front and center right now. Or not Meta. M-U is front and center. Micron. Meta needs to clarify their CapEx spending. Market is seeing spending, but no output. Yeah. What's up, Max? Good morning, dude. What's up, SK? What's up, George? CB shorting the market. Need another red day today. Come on. I think I made more money shorting the market yesterday, although I did attack a range. Also, whatever red level I have on the chart right here, it did prop it up for gold. So, top three greatest levels there, apparently. Shorting the market, Mag 7. Lurkers, friends, enemies, family, you know. Show yourselves. Lurkers, are you here? Are you here today? A lot of you guys watch the stream. Never chat. I am going to force you to chat every single day. Announce yourself. Show yourself we're here. I might put it in sub only mode. SpaceX actually starting to dip down some here. Look at SpaceX. SpaceX under 160s again. Getting a little slump here in pre-market this morning. Got 159s now, 158s. Lurker, what's up, Conrad? What's up, Poohria? Hopefully, I said that right. What's up, B? What's up, Eagle? I see you guys. I see you guys. I'm always here. I'm always lurking. Force me, John. Dude, I don't need to force you. You're here every day, Bog. Terrible answers to questions, but you're here, dude. I'm driving, dude. I know money. Listen, I know, dude. I'm sorry. Lurken, what's up, Molly? What's up, Michelle? Hey, good morning. John Geron, good morning. Hey, dude. What's up, Ed? What's up, Chef? Microsoft thinking about bankruptcy. I heard, nah, dude. Microsoft's not going to go for bankruptcy. Maybe a reorganizational bankruptcy. I don't think it's going to do that either, though. Leave us alone. I'm sorry, guys. I'm sorry. I'm working and lurking. Honestly, that's the new catchphrase. I think regular listener, but lurker. Thank you, Andreas. I appreciate you guys. Certified lurker, Raymond. That's cool. What's up, Ryan? [00:45:03] Speaker 2: Yeah, you guys, let's stop bullying people, John. I've noticed you're always telling us, look at this. Check out these numbers. Join the chat. You know what I mean? Yeah. [00:45:10] Speaker 1: Brynn, I'm going to let you finish. Brynn, I'm going to let you finish. No, no. Go ahead, dude. I'll finish. [00:45:17] Speaker 2: Okay. I don't have anything to say. I'm just bullying you, you know, as a bully. Always telling everybody what to do, you know. We can look at the charts if we want to. [00:45:27] Speaker 1: Yeah, I know, dude. I know. I'm sorry, guys. I'm sorry, dude. I didn't mean it. I didn't mean it. MU, guys, at 1220s. Still fading a little bit here. It's up a lot, though, dude. I wouldn't be surprised to see MU drop a little bit today heading into the opening bell just because it's up so much. It might. I think it'll continue up long term, of course. But I wouldn't be surprised to see it drop just a little bit. Just on profit taking, I think, you know, people are up big from earnings. I think a lot of people probably gambled on the earnings yesterday. A lot of people, even in the chat, were like, yo, I bought up call options before this earnings report. But Momentum could also pick it up and just rip over highs and all that stuff. So lurking while welding. That might be a bad idea, Chris. Don't do it. Don't do it. I'm gambling on Bitcoin price. Keep lurking until I'm rich. So forever at this rate. Unhinged. That's okay. You know, you're rich in love here at Beginner Straight. At open, it will drop and it'll push up. Okay. Really a conflictory answer, but that's okay. I bought NASDAQ yesterday. Best trade I've ever done. Hey, good job, Gump. Yeah. You know it. Yeah. Get rich or die lurking. [00:46:40] Speaker 2: Yeah, that's right. [00:46:41] Speaker 1: That's right. You are not sorry. Yeah. Using leverage for the leverage ETF is crazy. Yeah. [00:46:49] Speaker 2: Lurking while welding might be okay. You know, I mean, my grandpa used to smoke under his welding hood while he welded. I mean, I don't know how he did that, but he did it. So basically, you're saying it's okay to run with scissors. [00:47:00] Speaker 1: Is that what you're saying? That's not what I'm saying, but, you know. That's what I heard, bro. That's what I heard. [00:47:05] Speaker 2: But I think people are free to do what they want. I'm just not endorsing it. [00:47:10] Speaker 1: John is the type of guy who wears his Mickey ears two days after getting home from Disney World. [00:47:14] Speaker 2: Just to make sure everybody knows, I just went to Disney World. [00:47:16] Speaker 1: Did you know I went to Disney World, you know? I'm going to wear them to Jiu-Jitsu, you know, and see how, yeah, you know. Intimidation. Intimidation. Lurking with coffee. I'm trying to drink my coffee. Honestly, I woke up at 3 a.m. last night. We got a bunch of contractors at my house today, and yesterday, and the day before. AC went out, and honestly, more. Carol has asthma, so she woke up coughing last night at like 3 a.m., and so I got up, and then adrenaline hit because it was stressful, and I was able to go back to sleep, but not well, you know, not well. I want to see some green today, getting hammered in half my stocks. What are you, short right now, bro? What are you holding? You holding hyperscalers, maybe? Look at the NASDAQ real quick. Hold on. Let's look at the NASDAQ. NASDAQ up to 30,158 right now. 30,158. It's getting a big volume jump here at 805. Let me check news, but getting a volume jump. Dollar rises to near two-year high. What's the dollar doing today? Dollar up to 101s. Bank of America defensive could shine. All right, guys. So, yeah, I got it a little long lurking coffee. What's up, G? I wish I shortened SpaceX, AMD, and Intel. Yeah, I think those will be fine long-term, though. We'll see what happens. Yeah, Rubio spoke earlier about Iran, but I don't see anything coming through the tape here. There's the dollar. Yeah, Rubio's been talking all morning, honestly. Yeah. Yeah, about geopolitics. I don't think it's moving much, though, to be honest here. I think market's not here anymore. [00:49:27] Speaker 2: It's not. It's not right now. [00:49:29] Speaker 1: Yeah. Netflix must be a good buy. I bought Netflix not that long ago. I'm down on it, though, from where I bought it. But I still think it's cheap here. I think, again, unless we start to crash, like, unless market goes into full bear market crash mode, I think these are pretty cheap from where they could be. Hey, what's up, was? Netflix must be a good buy. Out of my long at 30,162 minutes for the two minutes done for the day. As long as you stick to it, as long as you stick to it. Lost 5,000 in gold, wiped my account. I'm sorry, Rick. That sucks, dude. Yeah, the bill is not low, Chris, for what's going on. Yeah, Netflix looks decent. What's up, Chef? Hey, what's up, brother? All right. Listen, guys, we have... We have 22 minutes until PCE and GDP data goes live. 22 minutes until PCE and GDP goes live. We'll see what it looks like. But we do have data releasing in 20 minutes here. Again, do you guys want to buy or sell ahead of this print? I don't know. I don't know. I think this is for May data. I think GDP is relevant as well. Again, a lot of people saying we're currently in a recession. Or we're not currently. We're not currently in a recession. But we may be heading for one this year. I think this data is interesting. And then remember, guys, next week, we do have payrolls. Non-farm payrolls, unemployment next week. I think the GDP data is expected to jump up a little bit. This is the final revision. So the way GDP works is they do one a month. So they do the initial estimate, which is the most variance-heavy one, right? Because it's the first time we're seeing an estimate for that quarter. Second one is the second revision. Third one is the final or third revision. It's the finalized version of GDP basically coming out today for quarter one. It's expected at 1.7%, under 2% GDP still. But that is coming out today. So we'll get a little bit of a look at GDP. And again, we're going to get a look at inflation simultaneously. So NASDAQ is green on the day, obviously, from MU. Already it's very green in the last 24 hours. It was down big ahead of MU. But MU is buoying the market. I made that up, guys. I said that. But MU is buoying the market here a little bit with the crazy gains. And again, MU, just to recap, killed it with earnings. Great numbers. Raised guidance by big margins. Way better than expected revenue. Good EPS. HBM demand is high. CapEx is going up. Good forward projections. Just a lot of good stuff for MU earnings. And it's up to 1230s right now. So NVIDIA is kind of static. Somebody said it earlier. That's a good word for it. It's static. It's not really moving much. Yeah, but they're going to get that eventually, Clayton. They go through cycles in terms of content for Netflix. Like they'll have a good show. That show will end. They'll have another good show. That show will end. And so they just go through cycles, my friends. All right, guys. 20 minutes until PC inflation data goes live. 20. Let's see what we get. Does it affect Bitcoin? Yeah, Bitcoin wants easy. It wants low interest rates. It wants low inflation is what Bitcoin wants, right? So Bitcoin will move from it. Bitcoin has been following the rest of the market. Again, even if we look at Bitcoin right here. Bitcoin reacted really well to MU earnings. You know, MU earnings dropped here. What was it? Right here. So MU earnings propped Bitcoin up. Yeah, so MU earnings definitely propped it up. Yeah, so MU earnings definitely propped it up. Core PCE today is expected. Let me pull it up. See what the expected numbers up. I believe core. We're looking at core is the most relevant PCE print. But we're going to look at all of them. But core PCE is the most important one. At least historically, it's been the most important, right? So core PCE is expected at 0.3% on the month to 0.3%. Last time was 0.2%. So we're seeing some secondary effects. Secondary effects of inflation, meaning like core excludes energy. But even if it doesn't include direct energy prices in like oil and gas, we're still going to have secondary effects of high oil and gas prices, right? Shipping is more, airlines are more, you know, so forth. So the secondary effects aren't too bad. We're at 0.3% expected today. Durable goods also released expected at 0.5%. GDP again expected at about 1.6%, 1.7%. Quarter 4 was 0.5%. And so, yeah, I don't think we're hitting a recession this year unless we start to see some deeper weakness. Jobless claims, speaking of jobs, is how many people are filing for unemployment week to week. It's a more real-time look at jobs. We get that today as well. Last time was 226k. Today they're expecting 225, roughly in line with what it was last time. And, yeah, we'll see what numbers show. Headline PCE is expected at 4.1%, which, again, does kind of mirror CPI inflation. But, again, this is, oil has been dipping some. So we have seen some contractions in oil prices here. So, do you still not like Nike? Yeah, I mean, Nike's long-term. Like, short-term, it might keep dipping. I don't know what it's going to do. But I'm probably just going to hold it long-term. Nike's not going to go out of business. You know, it's not going to struggle that deeply in that regard. I think Nike's probably cheap from where it's at now. I think there's a lot of markets that prop Nike up also that, you know, we're going to start seeing money flowing in as well eventually. So I like Nike here, but I'm not an investment professional. I have no idea what it's going to do. You think PCE is over-expected today, but first 15 minutes goes high and pulls back afterwards? Yeah, maybe. Cutter Energy is issuing its first crude tender since the Iran war started. But yeah, Bitcoin is still in a slop though. I mean, don't get it wrong. Bitcoin is still struggling. Here's the S&P 500 today. It's roughly at 74.80 right now. It did really well from MU earnings, but it's basically flat on the day. Micron is still bull trapping. I don't know if it's a bull trap, dude. It's up a lot. What are your thoughts on metals? I like gold and silver long-term. I don't know what they're going to do short-term. So I like gold and silver long-term short-term. I don't know what they're going to do. I mean, gold's been in the wake of a slop. It's under 4,000 right now. It's at 3,995. It did, you know, go back up from some of the low points that's seen. But gold has still been in the wake of a big pullback. It's probably a reasonable pullback though. I mean, look, gold hit 5,600. It's way too high for gold. When gold was at 5,600, I like gold long-term. But when it was at 5,600, I think everybody should understand the risk of some big asset like gold going up that much in that short period of time. It's not sustainable. It was never going to hold up there, especially not short-term. Long-term, yeah, it'll hit those levels again. But to be honest, I think this pullback in gold is necessary. I would much rather gold pull back to reasonable levels. And again, even reasonable levels, reasonable gold's at $4,000 an ounce versus what it was a year ago. So like I would much rather see gold pull back and consolidate for a little while versus just ripping over $6,000 or $7,000 short-term. I think that's way too much too quickly. And I think those are situations where you have trouble if it keeps rising. PCE should be green today. Bitcoin's got to buy at these levels. Yeah, and even reasonable is really a relative term. Yeah. I hear Gen Z doesn't wear Nike anymore. It's an outfit for boomers, apparently. I think you're wrong, dude. I think if you look at Gen Z, they're wearing Jordan 1s. You know, mostly. Unless that dynamic is changing. But they're mostly wearing Jordan 1s. It'll all come back around. Yeah. Yeah, potentially. I like Nike long-term. Yeah. Anyways, guys, we have 15 minutes. 15 minutes before PCE inflation goes live. So, again, bull or bear on this report, guys. Bull or bear on PCE inflation. Higher or lower inflation. Higher or lower GDP. Let me know in chat right now. But bull or bear on PCE inflation. We'll see what we get. Yeah, is Beyond Meat dead or worth throwing a few bucks into? I don't like Beyond Meat. I don't think they have enough customers. Nike's the biggest sponsor for pro athletes. It depends on the sport, but yeah. Omega Super Giga Bear. What numbers are bearish? Numbers that are bearish on PCE inflation are probably like core PCE month over month showing up at like 0.5% or more is bad. Headline PCE showing up over 4.2% or 4.3% is bad. Month over month, headlines was expected at like 0.5%, I think. Right? Let me see. Yeah, it's expected at 0.5%. So, over like 0.6% or 0.7% for headline is bad. Core year over year is expected at 3.4%. So, over 3.5% or 3.6% is bad. So, higher inflation. Basically, a couple jumps from where we are expected is bad. You know, so you don't want to see like anything like 0.1% is generally small, but anything over a 0.1% increase on either year over year or headline or month over month. Core month over month headline is going to be what causes the biggest reactions. If we're like 0.4%, 0.5% over the expected number, that's bad. If we're 0.4%, 0.5% under the expected number, that's good. But again, it's not easy today, I think, with everything going on. It's not easy to gauge, that's what I mean. So, what do you think of Home Depot stock? I'm in Home Depot, actually. I like Home Depot stock a lot. Why do I like Home Depot? I like Home Depot long-term. Short-term, again, I have no idea what it's going to do. But I think, you know, a lot of businesses, brick-and-mortar businesses specifically, are getting replaced by mail-order shipping like Amazon. You know, Amazon specifically, really. I think Home Depot has less of that dynamic in place. I think people who buy things from Home Depot generally need it that same day. So, there's less chance of it being rendered obsolete from fast shipping from Amazon. They generally want to go shop around and look at what they're buying. A lot of the time, they're buying wood and other things or plants. Those things are harder to ship. People want to pick the plants out themselves. People want to look at the wood first. I think companies and stores like Home Depot are more resilient to being rendered obsolete from mail-order shipping. And so, you know, I like Home Depot. But Home Depot also moves kind of counter-tech a lot of the time because it's rotation. So, like, Home Depot will go down if tech runs sometimes and vice versa. Not always. Sometimes when tech corrects, people rotate into, you know, retail like Home Depot. Right? So, it's, I like it long-term, but I have no idea what it's going to do. I like it as kind of like a hedge too. It's kind of like a hedge against tech as well. But. Nike dominant sports brand in a fragmented market. Joe, yeah, for sure. A hundred percent. Yeah, all good. Again, not an investment professional. I don't know what we're going to get. Not an investment professional, but yeah. All right, guys. PCE inflation drops in 11 minutes. 11 minutes. Did I ask people, are you bullish or bearish? Always bear. No, the Fed share doesn't speak before numbers. Bull. Of course, PC will be unexpected. John, what do you think of Home Depot? Yeah, I've already said that. I smell a bull market today. Your red line is still holding for gold. Yeah, it is, dude. Honestly, I don't know where I drew that red line, but this is why I leave lines on my charts most of the time is because I don't know where I drew this red line for gold. It's not at a normal spot I would draw it, but I did draw it. This is a drawn line. I put this line up somewhere along the way, and you can see today for gold, it might be the greatest red line anybody's ever seen today, so far at least. $39.95. Multiple confirmations in that line. Gold is back over $4,000 as well here. But here we go. We got 10 minutes, chat. 10 minutes. MU dipping a little bit. I wouldn't be surprised to see it fill the gap back down some. I don't think all the way, but I wouldn't be surprised to see it fill the gap down some. We'll see. Apple, Amazon, all kind of red today, but Meta, Microsoft. Yeah, MU is kind of propping the market up. Sandisk. So, here's the NASDAQ. We're watching the previous close on the NASDAQ. We're obviously watching $30,000 if we get that low if, big if, but if we get down low, you know, we'll see. I'm not really anything on the news. I think it really depends on what the data shows. So, I'm not really either one. I wouldn't really say I'm like super one-sided in regards to direction on the news, because I think we can honestly go either way. It just depends on what the numbers show up as, and PCE, I've never been good at predicting. For whatever reason, I get CPI rights sometimes, but with PCE, it's not really something I generally predict well, I would say. We are seeing more back and forth. I see the Iranian parliamentary speaker says, America falsely claims our unfrozen assets will buy their agriculture. So, we'll see. We'll see. But we're still getting kind of disputes, you know, back and forth overseas. Speaking of that, let's look at oil. Oil at 6970s here. Yeah, he said, America falsely claims our unfrozen assets will buy their agriculture. Interesting, the only crop we're harvesting is what you planted. Decades of mistrust. It sounds like... Yeah, did he? He wrote that really well, to be honest, bro. He wrote that really well. Like, that was... It sounds like a, you know... Yeah. It's organic, abundant, and homegrown, but apparently the U.S. only exports soybeans. Yeah. They're still fighting back and forth here. They're arguing. They're arguing back and forth. Let me clarify. [01:04:30] Speaker 2: But only exports GMO soybeans, broken promises, and trash talk. [01:04:36] Speaker 1: Jeez, dude. Whatever. Yeah, dude. Esculatory, man. Esculatory. After MU earnings, people would be ready to go more risk on. But again, waiting on PC green. Maybe max. Maybe they're waiting for PC and GDP data to come out. It's definitely relevant right now. So, it's definitely relevant. [01:04:53] Speaker 2: I just appreciate the drama of that statement. [01:04:56] Speaker 1: Yeah. [01:04:59] Speaker 2: I agree. I mean, I know this was a few topics back and a few minutes ago, but I agree with you about Home Depot. I'm not worried about it going anywhere. I mean, a lot of shopping for tools and parts and stuff is done online, but there's something to be said for, you know, like you're in the middle of a project and turns out, oh, you don't have this or you need that. And just being able to run to Home Depot. And also, I agree with whoever in the chat said Home Depot is better than Lowe's. I don't know why, but I do like Home Depot. Oh, it is. [01:05:21] Speaker 1: It absolutely is. It's got the nostalgic factor, in my opinion, too. You know, like Home Depot. [01:05:27] Speaker 2: I think Lowe's just has too many fans bothering me. [01:05:30] Speaker 1: Yeah. Yeah, that's true. If you had good earnings and much higher expectations, it might hit $1,600 soon. Yeah, a lot of people thought we'd close the year over $1,600. We'll see here today, guys. We have seven minutes until this report drops. PC prediction, John. How will gold react? I really don't know. Gold wants lower yields. So low inflation is good for gold right now. And so gold is probably going to react more than a lot of other things, depending on what the numbers are. Because, again, gold is fearing high yields right now. High yields means more people buy bonds because yields are higher in bonds. And less people buy gold and Bitcoin and more. So gold and Bitcoin kind of have the same dynamic where they want easing. They want lower yields. To be honest, though, some of these assets have been falling regardless of what anything shows. Like yesterday, we had lower yields. They still dropped. We'll see. But I think inflation all around is relevant. GDP is relevant as well. But inflation is all around pretty relevant for things going on. Yeah. Yeah. We'll see what we get here, guys. We have 1,700 people here now. We have six minutes left here. Let's see what happens. Let me put this in sub-only mode. [01:06:42] Speaker 2: They both have same day delivery. Now, that's cool. But, I mean, I would do that for a fridge. But not if I'm, like, in the middle of a project. I'm not going to go online and then wait for my stuff to be delivered. I, you know, want my part now. [01:06:53] Speaker 1: Yeah. You've been looking at, like, landscapers. They'll go pick up plants same day and more. I just think it's more resilient, you know. [01:06:58] Speaker 2: Like I said, if you're ordering a fridge or some day delivery, it's fine. But not when you're in the middle of working on your sink. [01:07:03] Speaker 1: Yeah. For sure. All right, guys. PCE data. GDP. Curious to see what we get here, though, dude. Again, this is a little bit, like, oil prices have fallen. And so, I think we'll see the reflected oil prices the next report next month in July. But oil prices have dipped down some. Again, oil under $70 a barrel right now. This is all relevant to inflation. But, yeah, $69.80 is for oil. Heading into PCE and GDP data in exactly five minutes. Also, guys, make sure you hit the live button next to the play button. Put it in 2x speed. Catch up to the stream. We appreciate it. And we'll see what happens. I'm a subscriber but still lurk. Hey, it's all good, dude. Are we expecting hot data in five minutes? I don't know, man. I don't know. I'm not expecting anything with this print. I don't know. So, again, this is one of those ones where it's hard to tell what we're going to show. To be honest. Again, QCOM had good numbers. Is it safe to buy MU at this level? Well, define safe and define how long you're holding it. I have no idea. But GDP important? Of course it is. Yeah. Feels like we're going to run. Hey, we'll see, dude. We'll see. It's time. We have four minutes left. Is SpaceX still... I saw SpaceX dip it a little bit earlier. Yeah, SpaceX is back under 160. Still pretty green on the day, though. It was under 150s yesterday. Feels like we're going to run. Gold is chopping really sideways ahead of this print. I'll put gold and NASDAQ up here so we can watch gold and the NASDAQ when this data drops. Probably look at Bitcoin a lot, too. But again, gold is still holding at 39.95s. Although it's starting to tap it a little bit more. So GDP can move markets? Yeah. Specifically if it comes in super low. But it just depends on if it changes from the last estimate they gave. It can. I mean, I would say the more important is PCE right now. But GDP can certainly. All right, guys. We have three and a half minutes left. Three and a half minutes. Hit the like button. Put it in 2x speed. We appreciate it. I want 38.80s for gold. All right, here we go. [01:09:19] Speaker 2: Do it now. [01:09:20] Speaker 1: Yeah, do it now, guys. Do it now. Here, guys. Gold at 995, 994s. NASDAQ at 130s here. We have three minutes exactly. Powell wants to save the market. Yeah, give me your last minute predictions here. What do you guys think? We will run. I hope we do. I mean, I hope. I generally hope markets go up. You know. You get people that kind of tie themselves to a thesis and they refuse to break from it. But I want markets to go up. Don't get me wrong. People call me a permable. I am permable long term. I think you kind of have to be. Depending on what asset you're looking at. But probably flat. Bull. All right, here we go. Two and a half minutes here, Chad. Two and a half minutes. Again, GDP expected at 1.6%. 1.7%. Depends on which one you look. Durable goods expected at negative 5%. Last time they were very positive. Jobless claims. Again, real time looking jobs. 225,000 expected. PCE inflation expected at 0.3% for core month over month. 3.4% for core year over year. Headline expected at 4.1% year over year. And 0.5% of the month. But we'll see how choppy markets get ahead of this report. Two minutes left. Two minutes left. Here we go. Nasdaq and gold dropping is my buy. It's 3.5% definitely getting pasted. Probably coming in flat though. We could come in flat. I mean. Just for it. Yeah. I hope we come in low. Obviously. But I think flat might make markets go up too. It just depends. It depends on how flat. And really what we're looking like. All right, guys. We got a minute and a half left. A minute and a half left. I love gold. I love gold too. Yeah. A lot of data. We got durable goods. GDP. PCE. Jobless claims. All going live in about a minute and 10 seconds. So we got a lot of different releases. We're going to cover all of it live here. But we got a bunch of different releases going live. All right, guys. We have one minute left. All right. Here we go. Gold tapping 4,000 ahead of this report. NASDAQ still at 30,137s here. Here we go, guys. Remember, hit the live button. Put it in 2x speed. And I should be pretty latency free. All right, guys. We have 30 seconds. 30 seconds. Oil turning positive. Yeah, it is. All right, guys. Here we go. Yeah, be careful the first minute or two after the number. Sometimes the first move is the wrong move. We have 15 seconds. All right. About 10 seconds now. About 10 seconds. All right, guys. 5, 4, 3, 2, 1. And here's the report. Okay, guys. So what I'm showing here, durable goods, negative 4.5%. The jobless claims came in at 2,215,000. PCE data was flat. So PCE was flat basically everywhere. Headline PCE was slightly lower than expected month over month, but flat year over year. Core PCE was flat everywhere. 0.3 versus 0.3, 3.4% versus 3.4%. Jobless claims came in lower than expected, showing stronger jobs. And like I said, a flat print would probably make the market go up, and it has so far. NASDAQ did just jump on this print. It did just jump. GDP showed up at 2.1%, way better than expected at GDP for finalized quarter one GDP, 2.1%. Look at gold and the NASDAQ rise here. So look at gold and the NASDAQ rise on flat inflation data and stronger GDP. Again, GDP showed up at 2.1% versus 1.6% expected. Core PCE showed up at 3.4% versus 3.4% expected roughly year over year. Headline showed up as flat as well. So again, PCE basically everywhere except for month over month headline showed up lower than expected slightly. So better than expected PCE data in one way, but mostly flat. But yeah, flat PCE, much stronger GDP, durable goods did show up negative as well though, but sometimes the first move is the wrong move. So again, jobless claims also showed stronger for jobs than expected here. So again, GDP, 2.1% GDP, 2.1% GDP, year over year headline PCE showed up at 4.1% as expected, but again 2.1% GDP here. So better than expected GDP. PCE inflation data was flat, basically. So better than expected. We'll put this data up on screen right now, but here is the GDP growth rate. Core PCE was flat as well here. But yeah, we'll put it up on screen. Markets are up from this report though. So look, markets are actually green on this report. Small green. And again, the GDP number is the highest, like the biggest beat here. 2.1% GDP for last quarter. Look at PCE data. Here's GDP data in the chat right now. Again, PCE was mostly flat, but there's quarter over quarter GDP. We're starting to pull back some. Remember, be careful though. Sometimes the first move is the wrong move. I want to see what yields are doing on this report. But again, PCE data flat. GDP 2.1% much stronger than expected here. Yields are falling on this report. Look at the 10-year treasury yield here. Yields are dipping down on this report. I'm looking deeper into the inflation data here. I'm looking deeper into the actual inflation data. This is done by the Bureau of Economic Analysis here. But again, in financial, we're going to look at some of these price points here for PCE data. But yeah, I'm going to pull this up here. Give me a second. Yields have fallen. The NASDAQ is starting to give it back some here. Again, PCE data flat. GDP 2.1%. Disposable personal income increased $164.9 billion. Personal consumption expenditure increased $156.7 billion. Okay, so look. Okay, so look. You can kind of see consumer spending increase. Financial and services, 28.4. Healthcare, 22.3. Housing and utilities, 22.3. Gas, 21.1. Declined in final expenditures of non-profit, food and clothing accommodations, basically flat. Clothing and footwear, 2.9%. 3.1% in durable goods. So interesting here. Yields have fallen on this report, though, and markets are going up. So markets are interpreting this as a bullish print here, guys. So markets have interpreting this as a bullish print. PCE came in cooler than expected, 0.4% on the month versus 0.5%. Everything else was in line. It's a good disinflation signal here, right? Like, that's probably why markets are reacting well. We got a decent little Goldilocks scenario. GDP was strong at 2.1%, stronger than expected, at least at 1.6 or 1.7. Gold pushed all the way up to over 420s, 4020s. It's now back down a little bit, though. But yeah, the NASDAQ. This is good data after MU earnings yesterday. Again, year over year, still at 4.1%. It still means the Fed can't print as aggressively as they want. But let's take a trade here, maybe. I'm bullish on this data, but markets are up a lot. But I am bullish on this data, so let's take a trade here. Dare I buy this right now? Give me a little pullback I'll buy, but I'll be very careful. We made enough yesterday. All right, so we bought a little dip here. Let's see what we get. A small dip in the NASDAQ. Maybe I should have bought Gold, honestly. [01:17:44] Speaker 2: Yeah, a lot of things popped up, but it seems to be kind of leveling off now. [01:17:47] Speaker 1: Yeah, for sure. I'm kind of buying the dip. I mean, look, data came in good. GDP was better than expected. PCE was basically flat. All right, so I bought this little dip. I might add a little bit more on a pullback here, but I think this is good data. I think this is good data. So we'll take a little bit of risk here. We made enough yesterday. We'll take, what, six contracts here and take a little risk on this report, see if we pop higher. There we go. I'm going to take a little bit off up there just because we made enough very quickly on this little dip. There we go. We'll take a little bit more off here. We're up about 200 or 300 on this trade already. We'll hold two contracts left, see if we start up to run more. Actually, I'll hold one left and see if we, we'll just lock all of that in. We'll hold one micro contract. If we run out big, that's great, right? But. I get more than a boom doc. Yeah, so again, GDP, PCE data better than expected. I'll put a, let me put a banner up so you can actually see it here. Again, GDP 2.1% is the good number here. Again, PCE should have been 0.3%. On the monthly index, core PCE. Yeah, month over month, PCE should have been 0.4% versus 0.5% for headline, which is also good. So, so far, this trade's working out really nice. I'll put a banner up so you guys can actually see it. But, so far, so good. So, so good. I could add more to this trade, too, here. Hey, thank you, Davey, my guy. Thank you, brother. Thanks, bud. I don't know if I should add more to this now. I'm going to sell right here, I think, and get out. I think that was an easy bounce. I think the data was good. PCE was flat. GDP was strong. Jobless claims were low. Durable goods, but everything else is okay. Gold is actually reacting really well to this print, too. Look at gold. Gold is at 4,020 right now. So, gold is actually up. It was under 4K right before this report. We also see yields falling here, which is one of the reasons I took that short, is because if you look at two-year treasuries, yields are dipping on this report, which is good for gold. Generally, what the NASDAQ was like, look at two-year treasury yields dip on this report. So, it's showing we're not as inflationary as we could be, is what this report shows. GDP is still strong, but inflation is not trickling into everything to a certain extent with inflation last month that we should be concerned. Again, like I told you guys before this report, I thought a flat print would be a positive thing. GDP 2.1% as expected. It doesn't mean anything yet. Maybe I'm wrong, and this could be the first move is the wrong move scenario as well here. But let me get that banner up for you guys. But again, data was pretty good. Pretty good. Are you bullish or bearish on this print, guys? Let's do another poll here. Yeah, let's do another poll. Are you bullish or bearish on this print? Fake divergence for gold. All right, 64% say they were bullish on equities. Let's see what MU is doing in the wake of all this. I mean, MU is almost back up to 1240. It's not a crazy big move. I do have to watch gold. After the recent release of GDP and PCE, are you bullish or bearish? Vote on the poll. Let me know how you feel, guys. Yeah, right now gold's climbing back up near 420s. Yeah. Yeah, here's gold. Gold up to 4,017s. So, good news is bad news in interest rates. Yeah, but lower yields means markets are interpreting this as lower rates, if that makes sense, right? It's because inflation was in line. It wasn't as bad as it could be. So, with inflation in line, you know, well, we still can't cut, but it's maybe pricing in less rate hike odds. Yields are falling, two-year yields specifically, and 10-year yields. So, that's what markets are pricing. And again, it's still really early, really early. But flat PCE data, I think, is good. We'll see what it does to, like, the rate hike odds. Rate hike odds are still around 35% for this year that will have higher rates at the end of the year. But so far, so good for NASDAQ and gold here. Not a crazy big reaction, but we're at 4,013s. Oil at 68s. Let's take a look. Here's oil. Oil falling a little bit on this print as well. Yeah, here's gold. Here's silver. Yeah, silver up on this report as well. I almost like buying gold more than I like buying the NASDAQ. The only problem with buying gold right here is that gold has been kind of falling regardless in some ways. You know, even with yields down like they are from this print, gold is still one of those things where it's had. We had lower yields yesterday and gold still dropped. So, we have lower yields, yes, from this report. Which means, what lower yields means, guys, just so you can understand this. All right. Lower yields. Yields and interest rates follow each other, right? They mirror each other. So, if we have lower interest rates sentiment, right? Like, if it looks like we're going to cut rates or not raise rates as aggressively as previously thought, yields will fall. Okay? Like, that's what we're seeing from this report. So, we see a dovish reaction in yields from this report from inflation being in line is what this really is. And lower than expected on one metric. Month over month. Headline PCE inflation was lower. It was at 0.4. So, that is what markets are interpreting this as, is a dovish event. Maybe causing less chance of rate hikes is what this is. That's why yields are falling. And gold likes lower yields. Again, just to understand the correlation. Gold likes lower yields because when yields are paying out more, people don't want to buy gold. They want to buy bonds because they're paying out more. When yields are paying out less, as yields fall, more people are interested in buying gold. More people are interested in buying Bitcoin. And speaking of Bitcoin, let's take a look at Bitcoin here as well. Again, here's Bitcoin. Bitcoin's up from this report also. But we'll see if we hold at these levels here. You know, we'll see if we hold. We've already had some upward movement here. Yeah, when people were asking about the Dow earlier, let's look at the Dow. The Dow's green from this report as well, it looks like. Yeah, here's Bitcoin. So we jumped up some. Fake out too? Is this a fake out? Maybe. It could certainly be a fake out. What's up, bull? What do you think is happening with MAG-7? I think we're seeing hyperscalers dip. This is what we're seeing from supply bottlenecks. Gold about to go green on the day, or at least try to. Gold at 4,015. Where's the previous close? Yeah, gold technically green on the day now. Up to 4,020. NASDAQ's starting to jump back up too after this report. Also, guys, if you haven't already, check out Lucid. Tradeify. Take profit. Apex. Apex has five-pack bundles right now. You can get five accounts for $85, $17 each. Lucid has end-of-day drawdowns and everything. Lightning-fast payouts. And ultimately, the LucidFlex account's the single best account to get funded in. The most free rules. Once you're funded, there's no consistency rule. No DLL beyond your initial trail. So if you want to help support your boy here, I'll do the shameless plug. My first plug of the day here, guys. Listen. I just like helping people. I'm not here to make money. You know, I would never do this to make money. But if you want to check out my sponsor, check them out right now here. Here's the link. Great way to help support the channel. My affiliate, I should say. Not a sponsor. My affiliate. I appreciate the love, guys. Obviously, I'm biased in their favor. But yeah. Oil dipping down a little bit. There's the link. I'll put it to the top of the chat. Coupage code BGT. We'll get you the max discount. Gold up to $4,020. $4,020. No increased GDP. Yeah. GDP at 2.1%. Way better than expected by a big percentage. That's probably another thing. Again, it's kind of like a... I wouldn't say it's the most Goldilocks situation we could be in. But it's definitely somewhat of a Goldilocks situation. We got good PCE inflation, low PCE inflation, and strong GDP and lower jobless claims. So strong jobs, strong GDP, lower inline inflation. And I think that's a pretty good situation. I think that's why markets are up. I think my bias is going to be bullish today. But again, I also think MU is propping things up so much and hyperscalers are down to a certain extent where we could see corrections gap fills on the downside today. So that's certainly a possibility. Just based off... I still think they're going up long term. But I think we could pull back a little bit and just fill some of the gap. Because again, memory is mostly propping up the market overnight. Hyperscalers are worried about bottlenecks. And so, yeah. But I think this data is good. I think this is good data. Gold prices are up because yields are falling down. Markets have interpreted this as a dovish event. And yields have fallen. And so here are yields since this data released. Look, the data came out here. Look at yields fall, right? So this is interest rates, basically. Yields and interest rates correlate. So this is interest rate sentiment falling. Like people pricing in. I don't know if we're going to have lower rates by the end of the year. But maybe less odds of rate hikes is what we're going to see on the tape if yields continue to fall. Yeah, Bitcoin is, it's trying. It's trying. Gold is now technically green. [01:27:59] Speaker 2: I see someone asking what Ethereum is doing. [01:28:07] Speaker 1: Ethereum's up. It's mirroring Bitcoin, basically, with this. Okay. Hyperscalers are running out of cash flow to pay their CapEx. Yeah, for sure. How are odds now? Odds take a little bit to change on the CME watch tool. So they don't change immediately. They take a little bit. But they have fallen down. So they finally reflected here. So now, this was, remember, 35%, 36% chance of a rate hike this year. Now it's only 27.8%. So odds of a rate hike on this data have decreased substantially here. So odds of a rate hike have gone down from 36s to 27s, basically. So less rate hike odds now, greater chance of keeping rates basically steady for the rest of the year, which is what I think we'll do. I think we'll keep rates steady for the rest of the year. I don't think we're going to cut rates. I don't think we're going to raise rates unless the conflict escalates. But you never know. And look at gold. Gold is reacting, as you might think, to lower yielding. Gold is at 4,024, 4,025 right now. So gold is acting very strong on this report. Gold kind of needed this too. So we got good situations all around. We got MU propping things up, helping markets in a really bearish opening week. We have data coming in pretty positive. GDP showing strong data. Inflation showing lower than expected or flat. We have jobless claims. Jobs showing up better than expected, stronger than expected at 215 versus 225,000. And remember, that's how many people are filing for unemployment. So lower is better. 215 versus 226 or 225, better than expected there as well. The NASDAQ looks like a flag here. Sometimes these flags can break on either side, though. Here's the poll. There's the flag, right? So we have a flag-like scenario here on the NASDAQ. It doesn't mean we're going to run, but we do have a flag situation on the NASDAQ right now. All right, looking at our poll, it's still pretty much the same thing. It's 65% bullish, 35% bearish today. Where are the bears at in chat right now? Where are the bears? Look, here's Steve. He's always here watching, you know, studying, learning, you know. So there's Steve. [01:30:21] Speaker 2: Yeah, right under John Von Fredericksburg. [01:30:23] Speaker 1: Yeah. Who is that handsome man at the top? Man, what a great-looking dude over there, bro. Steve, he's all right. But look at John. I know, right? That's a great-looking man. [01:30:32] Speaker 2: Looking suspiciously like the guy who jumped off WW1. Yeah. [01:30:38] Speaker 1: All right, guys. Hold on. Wait. I accidentally hit my camera. Let me fix this. There we go. I'm back. Look at gold, guys. Gold run it up on this report. 4,032, you see? Gold, 4,032. I am bear today. [01:30:58] Speaker 2: Oh, my God. That dude's right. You do look like Zardin Nicholas in that picture. [01:31:03] Speaker 1: Maybe I am. Maybe I am. 40 trillion in debt. They will never raise rates. Yeah. Maybe. I lost 1,000 in gold. Hey, good luck, dude. Steve, the lurker. Yeah. Stagflation incoming, maybe. I don't know. This report showed the opposite of stagflation. I mean, look. Context is important. 4.1% inflation, I don't care how you look at it, is not really good. But it was better than expected. It was flat. And this report does not reflect the cheaper oil prices that we're seeing now. Now, it'll take a little while to trickle. But this report does not show the cheaper oil prices that we're seeing now. Under $70 a barrel for WTI crude, right? So, while I'm trying to make sure to phrase it in a balanced way. While this report is better than expected, we're still at 4.1% inflation. But that might start to ease next report with the lower oil prices. As long as the low oil prices hold, so to speak. Yeah. I'm bullish on the data, but bearish on the market. Yeah. I mean, look. I think the data is good. I think MU is up a lot. The memory is up a lot. Hyperscalers are worried about valuations and CapEx and bottlenecks and all kind of stuff. And so, you know, a lot of hyperscalers are down. Here's Google. Oracle. You know, and more. So, like, a lot of them are down. MU is kind of propping the market up. But it's at 1240s. And so, we'll see what happens here. But again, it's up a lot from earnings. It's up a lot over the last year. We could have a correction. But I'm still bullish on MU. Memory is one of the good hedges, you know, with AI. I think data centers are going to need to be built with all the growth. So, you know, MU and SanDisk and all the other memory plays. SK, Hynek, Samsung. Like, they're probably fine. They're probably fine. Although, they're all up a crazy amount here. When you look at PE ratios, right? MU-PE ratio is probably what? It's like 65 or 70 right now. It's not low. But it's not crazy. It's not like Palantir PE ratio or something like that. So, you know, you could argue both sides, I guess. GDP is negative. I said it yesterday and repeated it again. The bear case is when the subsidy plan is going to fall over if AI doesn't get cheap fast. Yeah, I'm bullish on the data. Bear show markets. Summer rally. What's up, Vegas? Yeah, so I did a poll here. 65% bulls mostly on the poll. We made money on that long here. Let's see if we can continue to make money today. But we got a nice cushion heading into the opening bell in 40 minutes. But yeah, GDP data lower than expected. Stronger than expected. PCE better than expected and more. So, we got good data, I would say, today. We'll see if it holds, but we got pretty good data. Alright, so U.S. Ambassador Donato talked to Turkey recently about jet engine sales. Tesla announces another adjustment to production at the Berlin Gigafactory. An additional 20% increase in production, taking vehicle production to 7.5 thousand a week from October 2026. Apple also says AI data center boom has caused unprecedented demand for memory and storage, forcing price increases. But man, the GDP at 2.1% is very good. Jobless, again, most of the data was good. Again, jobless claims, better than expected. GDP better than expected. PCE better than expected or flat. Personal income and personal spending did increase. And then tomorrow, we have Michigan data. Michigan data has honestly been moving markets more than it normally does, too, which is strange. Are you guys red or green on the day so far? What do you guys think? Are y'all up or down on the day? Let me know. I don't really think there's going to be a pullback after those earnings. Yeah, I mean, we can look at Sandisk, right? Sandisk, its last earnings report, killed it as well. Very similar report to MU in terms of just success, beaten race scenarios, super high amounts, overexpected. Memory euphoria, you know. Sandisk went from $650 or $600 a share around their earnings report a couple months ago. They're now at $2,200, $2,300. So, Sandisk, so I guess the point you can argue. They're doing pretty good, huh? Yeah, they're doing great in the last two months here. And again, you could look at MU. You know, MU might be doing these things. The only difference, though, is that, like, MU and Sandisk, they have sympathy movement with each other. And so, like, MU has already kind of made the moves that Sandisk did. It kind of went up with Sandisk earnings as well and the optimism about everything. So, you could argue that MU has already made the move with the sympathy movement it did with Sandisk's earnings a couple months ago. So, I guess my point is, MU might have less room to run on the upside. Speaking of that, though, Sandisk just broke highs of the day. Got up to $22.40 right now. MU is at $12.40. So, 4.1 inflation is a bearish printer. Why are you saying it's bullish? I'm not saying, like I said earlier, 4.1% is still not good. All right. But it's all relative to the expectations. The expectations are what gets baked into the market pre-release. And so, we're not looking, like, we can look at the finalized number. Markets have already reacted to 4.1% inflation. They've already reacted and gotten baked into the CPI at 4.2% and PCE expected at 4.1%. So, they've already reacted and gotten, you know, in the market. And, you know, the expectations are already there. And so, as I said before, it all matters in regards to what the number shows up as versus those expectations. Like, what's the difference in the numbers? And the difference in the numbers, it was mostly flat but lower than expected on one print for PCE inflation. Which generally is going to be interpreted as a positive thing. And what it really is getting interpreted as so far is dovish. Okay. So, markets are pricing in lower inflation because look at what yields have done from this report. And so, I'm not covering it like it's super positive to be at 4.1%. That's not what I'm doing. I'm covering it in terms of what the market is pricing in. And the market is up. Yields are down. Gold is up from this report. Which means that markets are pricing in as less inflation, more optimistic inflation data, stronger GDP, lower yields, potentially less rate hikes this year. Rate hike odds went from 36 to 28 or whatever it is right now. And so, you know, it ain't me, babe. It ain't me. It's the market. All right. That's what I'm saying. [01:38:01] Speaker 2: All your fault, John. [01:38:04] Speaker 1: I'm John Dillon. All right, guys. We're up to the 2230s. 2230s. Fake pump, guys. You're going to see the opening drop. Yeah, I think we can correct some too today. Don't get me wrong. I'm not putting that past markets right now. Basically, I don't know what the freaking market is going to do today, guys. Because, again, I think a lot of stuff is down aside from memory. And so, market's up over 30K. MU is up big. Even if I'm bullish in these assets long term, the market is getting propped up by MU and memory plays today. So, and now inflation data's been pretty good. So, you know, with everything said, we can see a gap fill at the open. It's possible. I'm not saying we do. I'm going to wait and see. Basically, I'm going to try to be reactionary and not predictive. I'm going to react to what we see versus trying to predict what it is. Because I don't think tying myself to a direction is necessarily the right move today. We did go long after, you know, we did make money. We have a very nice cushion heading into the opening bell. After buying the dip from, you know, the inflation and GDP reports, we bought the first pullback, the decent pullback we got. And I made money on it. But, again, as for what we do at the open, I'm not sure. And, again, chat, you can argue, or not argue, but you can give your thesis of what you think the market's going to do today. And I can't really argue against either one. Do I think we're going to crash today? No. Do I think we're going to, you know, pull back some? Maybe. Opened bell always corrects, but only reason I say bear would be MU hype is fading. I don't know, man. After those earnings yesterday, they were very good. Hey, thank you, Kyle, for the donation, my friend. The $20 donation by Kyle Jones. Shout out to you, Kyle. Thanks so much, man. Everybody applaud Kyle. [01:39:49] Speaker 2: Thank you. [01:39:50] Speaker 1: You're a main man in the chat today, Kyle Jones. Thanks so much for the donation, brother. We appreciate the love, man. Kyle Jones, you know. 281-330-800-4. Hit Kyle Jones on the low. Are we too old? Does nobody understand that reference? Does nobody understand the reference? Are we getting old, Brent? I feel like we might be, dude. [01:40:19] Speaker 2: Nah, dude, we're definitely getting old, but that's okay. You know, it's better than the alternative. [01:40:26] Speaker 1: Yeah, I'm getting too old, bro. Some of you guys know the market reference I just made, or not the market reference. I can appreciate the ones that do. Y'all are my people, if you understand who that is. Again, the younger generations, they don't understand Mike Jones, dude. You know? That was a moment in time here. You know? [01:40:43] Speaker 2: I still understand the struggle. You know, back in my day, we used to walk uphill to school both ways in the snow. [01:40:48] Speaker ?: Right. [01:40:52] Speaker 1: Tip it on faux-fos, Brent. You know? No. NASDAQ at 30,200. It looks like a bull flag, though. This does look like a bull flag. Yeah, it does look like a bull flag. We'll see what happens, though. Is this a bull flag? Do you guys want to buy this dip in the NASDAQ right now? Let me know. Gold at 4,025s. I can confirm you're old? Yeah, listen. I feel it, man. [01:41:25] Speaker 2: Man, I'm glad I'm not 37. I'm only 35. [01:41:28] Speaker 1: Yeah, I'm 67 right now. No, no. I don't know why I keep pivoting to that. I am 70 right now, guys. I turned 70 yesterday, you know? [01:41:37] Speaker 2: Yeah, well, you know, you're only as old as you feel, in which case, I'm really old. [01:41:41] Speaker 1: Yeah, I might feel that way today, dude. That might be how I'm feeling. When I train jiu-jitsu and I roll with, like, some freaking 25-year-old, I definitely feel like that. Well, you know, back then, they didn't want me. Yeah. But now I'm hot. Now inflation's hot? Yeah. Yeah. Profit-taking possible. Yeah, look. Gold, 4,027s here. Let's see if it holds, dude. I'm still bullish in gold after this report. And yields are down, right? So yields are down. That's what I'm looking at, is yields. Yields have fallen. Here is two-year treasury yields. They have popped up, I think, a little bit. Hold on, let me see. Yeah, they're still down. But they did jump back up a little bit here for two-year treasuries. We're at 4.115 right now. So let's see what gold does, depending on yields. Again, there's the 9 a.m. scrum here. Let's watch for some volatility at 9 a.m. There's gold. Gold jumping up at 9 o'clock. NASDAQ at 30,209s. [01:42:41] Speaker 2: I'm going to need to not do that, because I want to buy it. [01:42:49] Speaker 1: We're at 4,035s. Yeah, I mean, I was... I'm still going to... Yeah, I don't know. Gold treating me right today. Are y'all red or green on the day? I asked this early. I don't know how many answers I got. I'm sorry if y'all already answered. Gold jumping up at 9 o'clock, though. Look at it. 4,040 almost right now. NASDAQ is higher lows here than NASDAQ so far. [01:43:16] Speaker 2: I see what you did there, Sam. That was a good one. [01:43:19] Speaker 1: Yeah, look. Gold just tapped 4,040 here. So what's MU doing? I don't know where this song is. [01:43:33] Speaker 2: Put it on Lola Montez, you know? [01:43:37] Speaker 1: I like Lola Montez, dude. That's a great song. I know. I do, too. I wasn't kidding. That song gets in your head, dude. You're like, yeah, yeah, yeah, yeah. Yeah, it does. Yeah. All right. Gold up to 4,041s. [01:43:56] Speaker 2: I thought Brit didn't hear hip-hop. Dude, even I caught the big ones. I mean, come on. [01:43:59] Speaker 1: Everybody in the South knows Mike Jones, dude. [01:44:01] Speaker 2: Yeah, dude. [01:44:04] Speaker 1: I've met Mike Jones. I've told this story many times before. I've met him. Tell it again, John. I was bartending, and he came in. He lost a bunch of weight. This was like 15 years ago. 10 years ago. I don't know how long ago. It was a long time ago. He lost a bunch of weight. He had big glasses on. He had like an Asian name in the registry at the hotel. Like, he designated himself as like an Asian name at the registry. But when you look at him, you're like, dude, that's freaking Mike Jones, you know? Clearly not an Asian guy. Yeah, and so he tipped really well. It was really nice. It was with a girl, you know? So, didn't say much, but it was very nice. I didn't be like, yo, I know you're Mike Jones. I'm a huge fan. I didn't really say anything. I just kind of, you know, served him as Bertrand, and that's it. Gold up to, again, Gold's still climbing here, dude. Look at this jump at 9 o'clock. I'm at Webby. I have two, actually, and Boosie. I lived in Baton Rouge my whole life, most of my life. So, you know, you end up running into him every now and then. [01:45:08] Speaker 2: I wasn't like a fan or anything, but I saw he was driving a Bentley. I was like, man, can I go look at your car? And my sister was there, and she's like, oh, you're just, you know, like, you know, trying to, like, suck up or whatever. I was like, no, dude, how often do you get a chance to look at a Bentley up close? Yeah, I mean, it's Boosie and Webby, you know. [01:45:23] Speaker 1: If you're from Baton Rouge, you understand. Look, Gold's still climbing. We're at 4,050 right now. Yeah, Gold's going up there, dude. It's moving up. Again, yields are down. Markets are pricing at lower inflation. More optimistic look at inflation here. All right, NASDAQ started to dip here. I'm still kind of tempted to buy the NASDAQ, but I think it also depends on what memory names do. What's dragging the NASDAQ down again is hyperscalers today. Oracle, Google, more down. SpaceX is back down to 150s here. So, here's a question. What stock or asset do you want to buy today with everything going on? Also, I'm seeing Google is reportedly reorganizing its AI coding strike team in an attempt to catch anthropic and AI applications, according to the information. AMAT is introducing systems for advanced 3D chip making, including enhanced Centura Prime, EPI, OptiQuad, CMP, and Nakoda, and others. So, what asset do you guys want to buy today? Nike and Apple? I don't hate it. No stock by gold. Do we buy the NASDAQ dip? I don't know, dude. Maybe. [01:46:58] Speaker 2: I mean, like, every time somebody says that, it just sounds like a dance from the 50s. [01:47:03] Speaker 1: Basically, Palantir, Netflix. I like Q. I want a pony. I would like to buy NVIDIA, but I'll wait to see how it acts at the opening bell. Look at SpaceX. All right, guys. We got 25 minutes, but look at gold. Gold at 40,000 and 46 is here. Seller's market? Yeah. Probably. At least a little. I mean, I don't know if it's a seller's market. The data was good. Markets interpreted as good, but it's early. Sometimes the first move is the wrong move. But a lot of the time, like, look, what we're going to start to see pricing in today is we're going to start to see the MU numbers get priced in a little bit more. Options. We might get some options getting unloaded at the opening bell. That's possible, too. Or we might see some options getting balled up. It just depends. You can't buy options or sell options until the opening bell. And so after MU earnings, like, the thing to understand about it is that a lot of people bought options ahead of the close yesterday in anticipation of MU earnings, right? And so the real question you have to ask yourself, I think, with all this stuff going on is, like, what are they going to do with those options at the opening bell today? They can't sell until 930. And so that's in 25 minutes. And so or they could buy more. We might see an influx of buys coming in at the opening bell. But, like, that's a situation where we could see some big unloads. We'll see. But, yeah, that's kind of where we are now. NASDAQ is right at the 200 EMA. I'm up on the day. I might buy this dip real quick. [01:48:27] Speaker 2: Nick of Life says reloading on NVIDIA at $200 as a steal. Look at that support. What do you think about that? [01:48:33] Speaker 1: I mean, I think short term, there could be volatility. But I like NVIDIA long term, obviously. Yeah. All right. So we're in a couple contracts here. We're already very green on the day. I wouldn't mind us ripping past this 215 area of the volume profile. But we bought a little dip at the 200 exponential. We'll see what happens. Small trade, though. And we're very green on the day. So we can cut it if it starts to look bad. [01:48:59] Speaker 2: What are you guys interested in, in terms of, like, merging sectors and stocks, new stuff? [01:49:04] Speaker 1: No, there's quantum, robotics, quantum, for me. I think robotics and quantum are going to be the next two big boys. I think robotics will probably come first, even though quantum, like, the big money pull in robotics is going to be next, I think, with everything going on in AI. I think the next step, with a lot of these big companies, is going to be building, you know, AI-powered robots. Not just humanoid, but just generalized AI-powered robots. [01:49:32] Speaker 2: Yeah, an actual physical shell. Like a manipulator. I don't know what you mean. [01:49:37] Speaker 1: Yeah, yeah. And we already see it, for sure. But I think that's going to be the next big pull. All right. So we bought this dip at the 200 EMA. Let's see if we get a rip back up here. There's the rip. [01:49:50] Speaker 2: I'm one person saying photonics and nuclear. I don't know much about photonics. Sounds interesting, though. I mean, just based on the name. [01:50:01] Speaker 1: Yeah, I took one contract off up here. It looks like it was the right move. I'm still trying to let it test this 200 EMA, but if it slams underneath there, I'm going to cut it. Hopefully, it moves up, though. Hey, what's up, BT? What's up, Sage? What's up, Jarrett? Hey, I saw for an energy. Yeah, this is looking too weak here. It might fake me out here. But yeah, we just jumped out. Small wall. Still very green on the day. [01:50:35] Speaker 2: Yeah, Rag just said today is a fake out. [01:50:37] Speaker 1: I mean, like I said, it could be just a, like, you know, anytime we have such a big move from earnings, like MU did, there's always a chance we correct back down. You know, it's just how it goes. And so markets have priced in the inflation data somewhat, too. But again, I still think MU is going to have more influence, depending on what it does. Sandisk and hyperscalers at the open. [01:51:00] Speaker 2: Okay. Yeah, thanks for the breakdown, Proxy and Sage. [01:51:04] Speaker 1: Yeah, the VIX is down on the day, but that's just because markets are so optimistic from MU earnings and MU pushed up. Markets end up pushing. But. Yeah, we're still holding out that 200 EMA, so I might have gotten faked out here, to be honest, but that's all right. Yeah, I've been punched. I talk about SpaceX constantly. We're at 157s right now. [01:51:36] Speaker 2: I was going to say he's mad at you. [01:51:39] Speaker 1: I like midstream natural gas stocks at power data centers. Hey, what's up, Jarrett? Marvel Lumentum. Or Mar-Vell. [01:51:53] Speaker 2: Look into it, Femi. Thanks, man. [01:51:59] Speaker 1: Wait, do we have a Mike Jones in the chat? Did you just change your name? [01:52:06] Speaker 2: Yeah, they just changed his name. I mean, I didn't actually expect it to be him, but, like, what if it was? [01:52:17] Speaker 1: All right, yeah, so it looks like me cutting my NASDAQ trade here was good. We're still falling down some. Where's gold at? Gold's still climbing, though. Roughly at highs. NASDAQ's pulling back some. The pullback seems to be mostly centered on, uh, I mean, memory stocks have pulled back some from PC inflation. So, memory stocks are fading back down some. That might be what's driving this dip in markets. Here's MU. So, let's see what we get for the opening bell, but. It's Kyle? Okay, so you just changed your name to Mike Jones instead of Kyle Jones. Hey, thank you, brother. Thanks for the donation you gave me. [01:53:07] Speaker 2: I think it actually is Mike Jones, and Kyle was just his pseudonym, you know? Yeah, that's right. Yeah. This is the alter ego, Kyle. Yeah. Yeah. [01:53:19] Speaker 1: Yeah, MU's still slumping down here. It's at 1230s. Now, again, MU's up big. Don't get me wrong. They had a crazy good earnings report yesterday. It's possible SpaceX and Tesla become one. Uh, maybe. MU's still fading back down a little bit here. So, look at MU at 1230s. NASDAQ's still very green on the day. I'm watching 30,100 on the NASDAQ. Uh, it's right around the VWAP. It's the previous closing price as well. Like, look. This is that 30,100 level. VWAP is right, right around that same spot. Previous closing price is right around the same spot. Uh, it's a big whole dollar number. That's the level I'm watching here. It's 30,100. Uh, and obviously, underneath that, I mean, you gotta look at 30k right here. So, if we start to get really red, I mean, we can look at 30k. But, uh, we're heading into the opening bell, what, 18 minutes? Yeah. [01:54:26] Speaker 2: I mean, do you think SpaceX and Tesla becoming one or merging or however you want to put it? I mean, would kind of be a case of Elon putting all his eggs in one basket? And wouldn't that maybe be a mistake? [01:54:38] Speaker 1: Uh, no, not necessarily. I think it would probably diversify it enough to prop them up. I mean, it could be. But I think it'd probably diversify them enough to prop them up to a certain extent. You never know, but. [01:54:49] Speaker 2: Yeah. [01:54:49] Speaker 1: It could go either way. There's risks, but. [01:54:53] Speaker 2: Oh, yeah, obviously. I mean, you know, there's. I like what Thomas Sowell said. There's no solutions, only trade-offs. [01:55:00] Speaker 1: Yeah. Yeah, for sure. That's a good quote. Yeah. Yeah, I'm waiting right now. Oh, for sure. They will trade one ounce of gold, 10 barrels of oil, 24 starting July 24th. Yeah, where's oil? How's oil moving here? Oil is actually starting to move up a little bit now. Look at oil. Do we have any news? Let me check. $70 oil price right now. Let's see. Trump is going to headline an event at Mount Rushmore on July 3rd. According to the White House, Chicago Fed prelim U.S. June unemployment rate forecast at 4.33%. [01:55:43] Speaker 2: Yeah, I saw the Mount Rushmore thing, but I don't think they would move oil. [01:55:50] Speaker 1: Tesla is going to hire a thousand more workers on a plane outside of Berlin. Again, inflation data is still at a three-year high for PCE. It's highest level in more than three years. Yeah, I don't see anything. I think it's just moving maybe a little bit, heading into the open. 15 minutes. [01:56:14] Speaker 2: Yeah. [01:56:16] Speaker 1: Apple made a bearish statement about the electronics industry and it holds. Because as someone mentioned earlier, all the tech companies besides memory are dumping. Yeah, I mean, they are falling down today. Like I said, MU is kind of propping the market up. So if MU sources go down, the market is going to go down most likely with it. You know? [01:56:34] Speaker 2: Yeah. Also, you guys follow Big Traders Lead. Like and subscribe. [01:56:41] Speaker 1: Yeah. [01:56:43] Speaker 2: The supporters appreciate it. [01:56:44] Speaker 1: That's right. That's right. You can use it to see accurate gold oil prices over the weekend. Oh, yeah. So we're going to have 24-7 oil prices. Interesting. All right, guys. Look at MU. So MU down to 1230s. 1230s. Oil still at $70 a barrel. Has gold? I think gold pulled back too, right? Gold's still up there, though. Gold's at $4,050. [01:57:24] Speaker 2: Honestly, every time somebody mentions the Optimus program, I just have a very fearful iRobot moment. [01:57:33] Speaker 1: Why higher workings when you can put bots? Yeah, I mean, look. That's going to be the future of manufacturing, clearly. But it'll take some time. But don't get... I mean, companies are going to start doing that. Yeah, join our Discord as well, guys. There's our Discord link. Great way to help support the channel. We post a morning market brief every single morning in detail on what's going on in markets. So, yeah. If you haven't already, join the Discord. [01:57:57] Speaker 2: Yeah, a lot of informative, fun stuff going on in there. Join in. [01:58:00] Speaker 1: Yeah, that's right. Nine years. Yeah. Cow gold. Oil's still pushing, though, here. Look at oil. So oil climbing still at $70 plus. Meta's chart looks god-awful. Yeah, Meta's down big on the day, too. It's had a rough time. Meta, honestly, has a really low PE ratio as well. So I don't want to aid it. But we'll see what happens. Tech will go down today for sure. [01:58:40] Speaker 2: That really hurts, Kato. Yeah. [01:58:45] Speaker 1: Yeah. Yeah. NASDAQ down to $30,150. $140s. I got to restore it just in time. Still early, though. I mean, we're basically flat from the PCE inflation report now. Indian government announces that it has restored non-domestic liquefied natural gas supplies to pre-crisis levels and have withdrawn secondary or sectoral supply restrictions on LPG supplies. Yeah, I mean, obviously, I'm watching MU at the opening bell. I think we all should be. All right, guys. Yeah, I mean, Brit's dipped his hand too much in the cookie jar regarding talking about food too much. You know. [01:59:47] Speaker 2: Trying to lure me in there? [01:59:49] Speaker 1: Yeah. [01:59:51] Speaker 2: It's not going to work. But speaking of food. [01:59:53] Speaker 1: I love cookies, bro. I love cookies. I'm giving up sweets, actually. I'm trying. I'm trying to be healthy here. The Soxel have MU? I think so. It's up a lot, so I think so. Yeah, it's a major holding in the Soxel ETF, yeah. I thought it did. It's roughly 7.9% to 8% of its total assets. Yeah, that's what I'm worried about. It's just, like, the only thing I'm kind of concerned about, which, again, it doesn't necessarily mean it's going to happen, but you can't sell options until 930. A lot of people bought options that they're probably deeply in the green for yesterday before the close, you know? And so they're going to finally be able to sell those options and take profit at the opening bell today. That's the biggest worry I think we have here in markets right now is what do those do? You know, do they sell? Do they hold? Do they have diamond hands? Or are they like me and have a big pop of paper hands? We'll see. We'll see. Bowler Bear for the opening bell, guys. What do you guys think? [02:01:09] Speaker 2: I don't know. [02:01:12] Speaker 1: Yeah. Probably bull. Yeah. Bear. Bull, bull, bull, bear. Yeah, I could tank it with profit taking catches on plus and down to pressure, but unlikely. Yeah, I mean, look, momentum could also get control. We're pulling back ahead of the opening bell right now. So if you look at this, like we're kind of pulling back now. Maybe that means we're going to not pull back as much or at least maybe not have so much pressure, but MU is pulling back now, dragging other things down. So we'll see what happens. Gold is actually dipping down a little bit as well. Still green now, still over 4K, but gold is dipping down too. So I see bear, bull, buy the dip, dip, then rip. I'm dumping MU options at the open. Gold pulling back some too here. Yeah. So getting some baked in price action. In five minutes, we do have the market on open data going live. So we'll see what that data looks like too. All right, guys, we are at 1230 here for MU. Still up a crazy amount. You guys got to remember, MU was under a thousand yesterday pre earnings. Had a 17% implied move. It did, you know, it did move a lot. 1250 is the high pre market. Big whole dollar number. So obviously 1250 above us on MU makes sense to pay attention to. 1215 underneath us, I think it's a low area, but again, here's gold. The DRA METF still up to almost 80s. Bitcoin again. Get a look at this again. Bitcoin, US dollar at 61. SpaceX back up to 158. So it's trying to hold up there too. Yeah, Bitcoin moved a little bit on the upside. Yields, I don't have like a broken record with yields today. But looking at the net effect of yields makes sense. Yields did fall. Like here's where the report went live. And then this is where yields went. So they bounced a little bit over the last like 20 minutes, but they did drop pretty significantly from the inflation report. So yields are still pricing in less chance of hikes this year after this inflation report. And again, this report does not show the decreasing price of oil. That will be next month's report in July. So. Could be a fake pullback then bull. Yeah, for sure. Nick of life. I agree. Let's get ready to rumble. I'm dumping MU options at open. Gold pulling back some. Bull on gold mines. Shallow pullback then grind all the way up maybe. Yeah. I love sweets too, dude. I really do. I love sweets. I just. Me too. I like them too much to where I'll eat them after every meal. If I get into like a bad cycle of it, you know. And that's the problem. Is that I'll just keep eating them. [02:04:31] Speaker 2: Me too. I got long periods without eating any sweets. And then I just like binge. Yeah. Like three weeks. And then I stop again. I love cookies and ice cream. That's hard. [02:04:42] Speaker 1: Yeah. Yeah. Me too. All right, guys. Are you bull or bear for memory plays at the opening bell? Specifically MU and SanDisk. In two minutes, two and a half minutes, we have the market on open data. So let's see what the Mazdaq's doing here. Well, in that case, BRB. Okay. Yeah. All right. So bull, bear, bull, bull, bull, bear. On memory? I think you could reasonably argue both. In terms of like corrections of memory. Or runs into the same momentum we showed yesterday. Bull, bull. Mostly bulls. Bull and memory. Bull. Hopefully not a prolonged market consolidation phase. Yeah. I'm going to look for a range break at the open. But I'm kind of tripping off my words today. But I think the Mazdaq did go up big from this report. Now we're heading into the open. We've seen memory pull back some. They're still up big since yesterday. So we still have a lot of gap to potentially fill on memory, which could drag the Nasdaq red on the day. So that's kind of the, there's two, we could obviously go both ways here, but just be careful. I think at the very least, it'll be interesting to see how it plays out in terms of MU and the net effect on markets that that has. Overall bull today, but bear for profit taking. Yeah. Maybe bear at the open and then we rebound. It's potentially a scenario we could see. Like some, maybe some profit taking from options getting unloaded at the open. We could see something like that. And then maybe like a rebound later on in the morning. This is my guess. But again, it's just a straight up guess. All right. So here's the market on open date in about 40 minutes. We'll see how this affects things. I'm putting gold up here as well. [02:06:50] Speaker 2: I mean, 40 seconds. [02:06:51] Speaker 1: Yeah. [02:06:54] Speaker ?: Okay. [02:06:54] Speaker 1: Just making sure. What did I say? 40 minutes. Oh yeah. Not 40 minutes. 40 seconds. Guys, 40 seconds. 30 seconds now, actually. Coffee. Yeah. Bitcoin, bull or bear. I mean, I'm a bull long-term in Bitcoin, but it's looking scary for sure. But four-year cycle is what I'm looking at. So we'll see if we get a turnaround in, what is it? October, November. All right, guys. Here we go. Opening bell is about to be here. Here's the market on open data. I don't know if we're getting any big movement here at all from this, though. Looks a little slow today. [02:07:48] Speaker 2: Doing anything so far? Yeah, it's a little slow. [02:07:52] Speaker 1: I mean, we got NASDAQ jumping up a little bit, but we're still in a tight range. I think markets are nervous for the opening bell today. Again, it makes sense. You can't sell options until 930. A lot of people bought options ahead of MU earnings yesterday. Now we are heading into the first opening bell. The first time you can actually sell or buy options since MU earnings yesterday. So we could get an influx of both, realistically. And the NASDAQ is actually jumping up, you know, somehow. But I think markets might be apprehensive heading into the opening bell to see if we're going to get some movement unlocked here. There's the NASDAQ jumping up a little bit more. [02:08:26] Speaker 2: Yeah, I'm seeing a decent green candle. [02:08:29] Speaker 1: Yeah, so a lot of people are going to be waiting for the opening bell with that dynamic in mind here, I think. MU hit a price that already discovered pre-earnings. Yeah, for sure. Again, MU, though, ran from SanDisk and memory hype. So, like I said earlier, SanDisk had earnings did really, really well. MU moved in sympathy with memory, you know, in general. Like, the whole sector of memory. So, yeah, I mean, it's already hit the levels we're at now. All-time highs on MU, though, because I think that is a relevant spot here. What are the all-time highs? I mean, I guess if we open up now, we might technically be at all-time highs. So, oh, the previous all-time high print that I'm showing is 12, 13, but that's during market hour. So, yeah, if we open up around here, we'll break all-time highs on MU. NASDAQ up a little bit, though. What do we have? Three minutes? [02:09:29] Speaker 2: Screen some change. Now three. [02:09:35] Speaker 1: Bear. All right, I don't like this song at all. I've got to change that song. NASDAQ's back over the 200 exponential. I think that's a good sign heading into the open. All right, guys, two and a half minutes into the opening bell. Gold at 4,036 for gold futures, at least. Yeah, we'll see what the algorithms do for the open. Yeah. Like, I'm curious to see what the algorithms do. Stretch. Yeah, stretch, dude, is completely decoupled from the, uh... Oh, dude, stretch is down to 81. It's down 20% from where it should be for stretch. Stretch is supposed to stay close to 100. It's at 81 right now. All right, guys, NASDAQ pulling back to that 200 EMA here. We got two minutes left or less than that, actually, now. Remember, hit the live button next to the play button. Put it in 2x speed. Is the music too loud, guys? Should I turn it down? Again, I'm not really picking these songs. These songs are just on playlists. EMU plus 18%. Blue Owl is reportedly in talks to buy a stake in the Cleveland Cavaliers. Blue Owl might need to do that. Somebody different. Turn the music down, yes or no? It's a democracy in here, kind of. I'll turn it down slightly. This is a cheerocracy. It's bumping. There we go. All right, guys. Let's see what the opening bell brings. We got less than one minute into the opening bell. Will EMU hold? Will the NASDAQ hold? Will gold hold? Or we'll see pullbacks. Or do we run big? You know? I naturally think we... Or hope we run big. I hope we run big. You know? All right, guys. We're at 301 fives. All right. 30 seconds here. 30 seconds. No need for music. Yeah, I can turn it down. It's much slower now. All right, guys. Here we go. 10 seconds. Yeah, stretch, dude. It's just down, man. All right, guys. Here's the opening bell. Good luck. Good luck today, friends. If it's late, hit the live button next to the play button. Put in 2x speed. There's the opening bell here. Let's see what the NASDAQ and EMU do. NASDAQ just jumped at the open, but not a crazy amount here. Watching EMU. Indecisiveness at the opening bell so far, but... EMU's down to 1230s, 1220s here. 1225s. About to get tested, it looks like, for EMU. We'll see, though. What are hyperscalers doing? Google's actually up a little bit. Soxel is down. DRAM is down. Oracle's dumping here. So we're seeing some pullbacks at the opening bell. Like I said, we could, man. Again, options are finally unlocked now. So people who made a bunch from EMU earnings might be wanting to take some profit considering how much it's up. You can't hear the music at all. All right, I'll turn it up a little bit. All right, guys. NASDAQ at 30,000 and 120s. MU at 1220s here. So we are seeing some dips. We're running into the VWAP previous closing price, that 30,100 level I talked about. Let's see if we prop it up here. All right, we're dipping underneath that. NASDAQ went red for a second. Now NASDAQ is back red. Yeah, that level didn't stop it here. We're still dropping at the open. Yeah, we're seeing some red here. I got to wait four minutes before I can actually trade in. We do have a cushion on the day. There's EMU though. If EMU starts to rebound back up. All right, NASDAQ down to 30,000 and 75s. It's now red on the day. EMU's down some though. It's not down a crazy amount. But it's down some. The low of this pre-market price action is 12,13s. I must want to buy the NASDAQ here just based off of EMU rebounding. It's still a little early. But EMU just did red to green. Yeah, so EMU did just do red to green. All right, EMU's still pushing up. Ball 40s now for EMU. See if it holds. You got to watch hyperscalers too right now though. All right, NASDAQ just cracked lows again. EMU's pushing though here. The NASDAQ is not. Yeah, look at Oracle guys. Oracle at the opening bell is kind of nasty. SpaceX did move up but then pulled back some here too. Hyperscalers are getting hit this morning is what this is. Look at the NASDAQ. Look at EMU though. EMU's still holding it up though here. [02:16:26] Speaker 2: Why do you think hyperscalers are getting hit? [02:16:28] Speaker 1: Well, maybe supply restraints and fears over that stuff. It's making people nervous. All right, so I did jump into a trade here. I will put it up. We'll hold the rest of this break even. I'm going to take a little bit more off up here. I'll start to cut it if we can't hold. Okay, that's still holding really well. Look, I'll put this up on the... You can see it above me, my P&L right here. If you want to see it a little bit clearer. I'll take a little bit more off up here. Hold two contracts left. Break even on the rest. I've got to be careful though. I'm buying this because EMU's pushing up. So I think markets are still optimistic, but we're up a lot. I want to see if this bounces back to the VWAP here. I'm going to take a little bit more off up here and then hold this last one. There we go. We're roughly at the VWAP now. I'm going to take that off here. So we've got to be up a lot today. What are we up? We are up $570, $60. [02:17:57] Speaker 2: Let's see. I'm up $8,500 in my sandisk position today. All right. Good for you, the Avengers. Awesome. [02:18:05] Speaker 1: Yeah, look at EMU. What's interesting though, like hyperscalers are falling. CapEx, valuation fears, bottlenecks, and more. EMU's up to $1,250's all-time highs though. $1,250's all-time high for EMU. Sandisk is up to $2,270's, almost $2,300's. Oracle's really red this morning though. Yeah, we are moving here. Chat at the opening bell for EMU. Yeah, it looks like I got out just in time on the NASDAQ too. Yeah, I wanted to ride it up to close to the VWAP. We got close enough for me to take profit. Yeah, Microsoft, Meta, Amazon, Netflix just getting hammered again. Yeah, MAG-7's getting hit. Memory's propping it up. But again, we're seeing so much weakness in the MAG-7 that memory plays are not really propping. Even though memory's up big, all-time highs right now for EMU, it's still a situation where MAG-7's getting dunked. NVIDIA's at $1,90's. So, Gold's moving up though. Gold's at $40,000, $40,000. The LAG-7, yeah, right now it is. And now we're consolidating it after breaking down in that first five-minute period. And now we're consolidating it after breaking down in that first five-minute period. NASDAQ just cracked lows again. EMU's dipping down too. So, if EMU starts to trend down with the NASDAQ, that's a situation where we can pull back a lot. Yeah, look at Bitcoin. Bitcoin just fell back under. It's now red on the day. It's at 6,800's. NVIDIA's down to 198's. NASDAQ about to run into 30,000 right here though. Let's watch 30,000 here. So, here's 30,000 on the NASDAQ. Let's see what happens at this spot. There's 30,000 right here. So, it's right at 30,000 now. All right, so just tap 30,000 on the NASDAQ. Bitcoin just gapped down a little bit on that candle. Weird. Definitely seeing some red here, guys. EMU Sandisk are not pushing. I mean, EMU and Sandisk are green. They're green since the open as well here. 30,000 just maybe a bounce level. Look at EMU pop to 1250s. NASDAQ right at 30,000 is starting to bounce a little bit. Oh, yeah. What we're looking at is my P&L thing kind of went crazy. I got to fix it now. There we go. Strategy and stretch. Dumpster fire. Yeah, they're scared right now for sure. Again, we're under 30,000 on the NASDAQ here. SpaceX down to 155 too. Oracle falling down. This is mostly like hyperscalers. Falling. Mag 7. Mag 7. Going to trade the 4-hour fair value gap. Hey, good luck, dude. Yeah, it's a little scary right now for sure. It's toast. Look at NASDAQ here. Under 30,000. MU at 1230s falling down too. Question, is it time to buy this dip? I don't know. I don't usually trade against the trend. I'll consider it, but there's risks. [02:23:44] Speaker 2: Watching this, just wondering if the NASDAQ is going to keep running down like this. [02:23:49] Speaker 1: Yeah, it looks, I'm tempted to buy, but, you know, we are seeing some kind of just corrections. [02:23:58] Speaker 2: Yeah. I just have a bad look. I don't know if I, uh, dude, I just feel like if I go short, it's going to run up. And if I go long, it's going to fall. Yeah, well, that's what happens to me every time. [02:24:10] Speaker 1: Yeah, but that's every new trader, dude. You know? [02:24:13] Speaker 2: Yeah, no, I know. I mean, I know I'm just kind of gun shy at this point from burning my last account. And so I'm hesitant to get back in it up. But, uh. [02:24:21] Speaker 1: Yeah. [02:24:22] Speaker 2: Just trying to educate myself a little more before I lose another one. [02:24:27] Speaker 1: Yeah. I mean, we are. This is really red right now in the NASDAQ. I think we're back down to where we were. MU's starting to fade back down, too, with hyperscalers as well. Oracle's down. Microsoft down. Everything's basically down in Mag 7 right now. Amazon down. NVIDIA's down. 196's. MU's really much breaking down here. Yikes. Deeply red open. [02:24:54] Speaker 2: How much is MU down? [02:24:57] Speaker 1: MU's not that much at all. It's basically flat, sincere, but everything else is down. So, like, look. Here's Microsoft. Here's Oracle. Really down. NVIDIA, guys. This is what's driving this latest push down, though. NVIDIA's at 197's. NVIDIA's gone from 202's down to 196's here at the opening bell. It's basically down five and a half. Or five dollars a share, which is about two and a half percent of price action here. So, two and a half percent down for NVIDIA just at the open today. And it's still falling. And the NASDAQ is still following it down here. So, VIX is probably ripping. Yeah. What's gold doing in the wake of all this stuff? [02:25:37] Speaker 2: Gold's actually not falling. Thanks, man. I'll check that out. Appreciate it. [02:25:40] Speaker 1: Gold's actually not falling that much. But, man, markets are scary right now. All right, man. We have not stopped this breakdown. Look at this, dude. This is a nasty drop here. Y'all be careful today, guys. Be careful. This is a very large pullback. Short term. Very, very large. Whoa. Yeah. NASDAQ fading everything into the opening bell. Look at NVIDIA here, which I think is the big story right now. I mean, now, obviously, like, beer is taking over in markets. MU is down. Sandisk is down. Since the opening bell, that is. They're still up very big on the day, by the way. But, we're filling the whole gap in a lot. We're filling some of the gap in a lot of these. All right. I bought one contract dip here. I don't usually like doing this. But, one contract, I think, is fine. And, I'll add to it if it goes more my favorite. If it cracks this low again, I'll just cut it. [02:27:14] Speaker 2: Yeah. This is the second or third time I just tried to meet some support. And, then, it just drove right down through it anyway. [02:27:20] Speaker 1: Yeah. I jumped right out of that. We can only do this because we're up huge on the day. [02:27:30] Speaker 2: Because you're the greatest, you know? [02:27:32] Speaker 1: Yeah. Yeah. Man, let's see if we start to get some fight backs here. Like, I just jumped in a long again. I'm stubborn. But, I'll probably take it off right here. We made our money back. I bet. [02:27:53] Speaker 2: Gold back up to 430s. [02:27:56] Speaker 1: Yeah. Gold is moving a lot. But, the NASDAQ, NVIDIA, and chips tech are moving. That's what's in the markets right now. Yeah. NVIDIA is down to 196 is here. [02:28:06] Speaker 2: Goodness. [02:28:08] Speaker 1: Yeah. Nasty market. Again, guys, if you want to limit your risk day trading, try a funded account program. Most day traders lose. So, if you fund your own account thousands, you're probably going to lose it. Like, most day traders. NASDAQ just cracked lows again. If you want to help support me, check out Lucid. Lucid is a great way to learn. Most day traders lose money. And so, you know, you can learn to day trade. There's some risk. Like, the base Lucid account. You can get a Lucid account for very cheap. You can get 50% off if you use my coupon code if you haven't used it yet. It's BGT. But, the Lucid Flex account, it takes two days to pass. But, once you pass it, some of the best rules in the funding game, in my opinion. No daily loss limit beyond initial trail. End of day drawdowns. And, no consistency rule once you're funded in a flex. It takes a little bit longer to get funded outside of it. But, yeah, check it out. You can use it on Apex. Coupon code. Tradeify. Coupon code works. Take profit. Coupon code works. Man, look at this breakdown here, guys. Wow. [02:28:59] Speaker 2: How fast are the payouts on Lucid? [02:29:01] Speaker 1: Very quick. They're like one minute. I got mine in one minute. But, they're very quick. I think average time is like 15 minutes. But, very fast. There's the link right there. Yikes, guys. Look at the NASDAQ dip here, dude. So, NASDAQ is falling. Percentage-wise, what are we down on the day now? Let me see. [02:29:19] Speaker 2: Down, like, what, like 400 points or something like that? Which I know is not a percentage, but. [02:29:23] Speaker 1: 500 points. I was a little behind. Yeah. So, 30,100 down to 29,600. We're down 1.7% at the Open. More than that since the Open, honestly. The Opening Bell, we really started off at about 200. 30,200. So, in that case, we would be down 2% since the Opening Bell today already. [02:29:51] Speaker 2: Once again, it's trying to hit some support. And, it just doesn't look like it's going to hold it. [02:29:58] Speaker 1: Yikes. Yeah. Buy or sell right now, guys. Buy or sell. I expect sales to reign supreme in the chat. But, buy or sell. What do you guys think? We have had. Just to put this into perspective. Since the Opening Bell. Or, since 935, we've had 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11. 12 red candles. NVIDIA is partially what's driving this. Look, it's down to under 195s right now. It's at 194s. [02:30:26] Speaker 2: Yeah. Basically, from the Open, we're down from, what? 30, 155 all the way down to 29, 610. [02:30:33] Speaker 1: Yeah. Bitcoin is down to 59 thousandths. So, Bitcoin's dumping here as well. Yeah. Still dropping here. 29,500s. NVIDIA just broke the lows of the day again. So did the NASDAQ. Bitcoin down to 59,3s. What are yields doing right now? See what's... What's strange about this, guys, is like, I mean, yields fall with market weakness, of course, but, like, yields are still down even more. It's just AI and tech fierce, is what this is. Man. NVIDIA's at 194 right now, guys. This is a crazy market dip here. This is not small here, guys. This is very large. Just deep corrections here. Deep corrections. Um. Scary. 194s. Here's a bounce. Here's a red candle here. If we can hold this red candle, or this green candle, I mean, for the next 30 seconds, it'll be our first green candle. In, like, 15 minutes. Ugh. [02:32:08] Speaker 2: A heck of an orb, huh? [02:32:10] Speaker 1: Yeah. Yeah, if you look at a five-minute orb, probably it's pretty good. You know? But. MU. Giving some of it back. Although, MU's still up big here. This is mostly hyperscalers. I mean, it has to meet... Oracle. [02:32:26] Speaker 2: It has to meet support somewhere. I mean, why not here, I guess. [02:32:30] Speaker 1: Yeah, so I did a poll here. I said, what should we do? Buy or sell? Sell, sell, buy, sell, buy, hold, buy, sell. Nice news. Short every pop. 10-year yields are down by 0.5%. Bitcoin pooping. Yeah, Bitcoin is under 60K again. Buy. Sell. Why do we drop? Like I said, it's a dynamic of some of those options getting unlocked at the opening bell. NASDAQ just continues to drop, though, man. But we finally got a green candle. [02:33:04] Speaker 2: Johnson & Johnson is also doing well today. Stick to stocks with low beta. [02:33:08] Speaker 1: Yeah, I mean, PC inflation is three-year high. Yeah, but it was flat versus expected. [02:33:16] Speaker 2: Yeah. Would you please check what silver's doing? [02:33:23] Speaker 1: I don't know if I will, man. He's saying it too much. It's the principle of this. [02:33:27] Speaker 2: I mean, I kind of don't want that to stop, but I'm also curious myself personally. [02:33:32] Speaker 1: Yeah, silver's at the previous closing price right now, so it's basically flat on the day. Still red over the last 30 and 40 minutes. All right, guys, so NASDAQ's still dipping here under some major levels, too, at 2,9600. MU's starting to test low of the opening bell as well here. I mean, I'm not long in this right now. I think there's too much risk, but everything's red. Apple's really red. Amazon's really red. Microsoft's really red. Netflix is red. Oracle's pretty red. All right, so. [02:34:17] Speaker 2: Oh, you lost your eval checking? Sorry, man. [02:34:19] Speaker 1: Did the screen just go blank for you guys, too? [02:34:24] Speaker 2: Your screen or the trading screen? [02:34:26] Speaker 1: My top screen here. [02:34:28] Speaker 2: Not for me, it didn't, but. [02:34:29] Speaker 1: Oh, okay, good. Warsh's decision. Warsh's decision already happened. All right, NASDAQ just cracked lows again for a split second. MU is still giving up a lot of these gains it made. [02:34:44] Speaker 2: It's probably going to chop sideways from here for a little while, or start dropping again. [02:34:49] Speaker 1: Yeah, SpaceX is basically flat on the day, so, I mean, it's not really. It's not really. Yeah, it's not really down as much as everything else is. This is mostly AI fears. NASDAQ down to 29,500s. Look at MU's getting sold off here as well. Wow, look at MU drop. It's at 11,500s right now. Yeah, MU at 11,500s here. Yikes, dude. [02:35:23] Speaker 2: There's a silver lining checker. [02:35:29] Speaker 1: Bitcoin cracked. Yeah, Bitcoin, dude. Look at Bitcoin. I mean, it's, I want to keep some of these charts up, but, like, look. Look at Bitcoin. E. [02:35:43] Speaker 2: I wasn't saying it was choppy, Sam. I was asking if he thought it was going to chop from there. That's all. [02:35:51] Speaker 1: Yeah. Oil's actually up to 724s here. Netflix is actually green, yeah. NVIDIA just cracked loads again. It's at 193s. MU did as well. NASDAQ did as. I think NASDAQ did as. Well, I'm assuming NASDAQ did with this. Yeah, NASDAQ down under 29,500s here. I mean, we're up a lot, mostly shorting the market today. We longed it earlier now. We jumped in short at the oven, but. Or no, we did long. We longed at the oven. I don't know what we did. But we're up. Can this be considered a crash? No. I mean, it's not a small percentage move. Don't get me wrong. Like, relative to where we were at the opening bell, we are now down since the opening bell 2.5%. So, 2.5% drop, 2 to 2.5% drop since the opening bell here. So, we are not down small. Technically, on the day, we're down about 2.15%. But, man, look at the NASDAQ still falling 4.30s here. Where's gold? Gold is kind of flat. I'm surprised to see Bitcoin drop this much, though. MU down. NASDAQ down. Intel now red. Circuit breaker incoming. What's it? 7% circuit breaker level? Yeah, this is a major market dump here. Yikes. Again, the NASDAQ, just since the open, is down about 2.2% right now. Just since the opening bell, the last 15-20 minutes here. What's the circuit breaker level? 7% on the S&P. The reason for this drop is from Bottleneck, CapEx, and AI overvaluation fierce. This mostly has to do with hyperscalers. So, that is what really has been weak. And then MU is correcting a little bit after a big gain from its earnings report. But this mostly has to do with hyperscalers. At this point in time, though, it's starting to drag into everything else. You can look at Oracle. Oracle's down to 150s. You can look at Microsoft. Microsoft's down to 350s. You can look at Meta. Meta's at 540s. You know, a lot of stuff is just down on the day. Although, some of them are starting to bounce back here. I bet that if I go short, the market might reverse. Yeah, it might, bro. It might, dude. So, the 5 account deals with Apex, Michael. So, the 5 account deals with Apex. You can find the Apex link in the description. And then you just use my code. And you can buy 5 at a time. It's like 17 bucks each. It's intraday trail drawdown. So, if you want end of day trail, it's a little bit more. But, it lets you pick which one you want. Please do it. Go short. Dude, I also want to buy this. I'm seeing some rebounds in plays here. But, I got to watch MU. Alright, so we did buy it, guys. And now we are up $100 in about 30 seconds. I'm going to take it off right here, dude. I'm out. I'm scalping this, dude. I'm not holding long, long. Pun intended in this market. Because, it's scary right now. I mean, we're up $700 today. But, like. I'm counter trending this. I just want a quick little bounce. I don't want to sit in this long term. I'm scalping that. Yeah, dude. Yikes. Bitcoin 58k. Honestly, the dip buy would have worked. What I saw here. Just to clarify why I scalped that move. What I saw here. I saw MU bouncing back. I see Microsoft bouncing back. Google bouncing back. I'm seeing hyperscaler rebounding. Is what I'm showing. Like, that's why I chose to buy there. Because, I see some rebounds in hyperscalers. MU is still propping it down, though. NVIDIA is still propping it down. But, I thought we might get a little recovery bounce short term. And, we did. I got out, though. I'm not holding this. But. And, it can certainly keep going down. I mean, the momentum is against me. But, I don't think scalping it on some rebounds and hyperscalers is necessarily a bad play. Look at SpaceX here, guys. SpaceX is still dumping. It's at 151. 70s here. This is not a crash. This is technically not. I mean, a crash is 25%. Correction is 10%. Circuit Breaker halt intraday is 7%. So, we're at none of those levels yet. Yet. Percentage-wise, again, since the opening bell, the NASDAQ is at, what is it? Let me see. The NASDAQ is down about 2.5%. Atlanta Fed GDP now 2.5% versus previous 3%. So, we've fallen quickly here. Hey, what's up, Blaze? Good job, dude. Are y'all green or red so far? Be honest. Are you up or down on the day? Be honest. Be honest. MU's still testing these lows. MU has filled about 50% of the gap up on the day it made from earnings. It's filled about 50% of it so far. Be honest, guys. Are you red or green on the day? Let me know. Red, red, up. Green, up over 5k. Red. Up a lot. Green, down. Red. I appreciate the honesty. I really do. Mostly red. Up a little bit. That's good. Green is good, dude. Green is good. Green, red, negative 150. Show to the decks. My Q contracts I bought at 350 per contract are now worth 14 per contract. Are you buy... Are they put contracts? I'm assuming. What in goodness gracious? The crash of the NASDAQ is giving me wins. They cover up my 5x losses from gold. Now recover. Red. Bitcoin just bounced off of lows. Red 3k. Green and going fishing. Hey, good luck. Lost a grand. I'm up on trades, but the overall portfolio is red. Yeah, that's me too. I mean, my portfolio is definitely red. I mean, I think most people's portfolios are because most people are holding at least like S&P NASDAQ, which is mag 7, which is not doing good since the open. It's peaks and valleys, though, so that's kind of how it goes. NVIDIA back at almost 190. 193s right now. MU has been filling the gap, too, here. Yeah, it's definitely looking a little spicy today, man. Alphabet's doing okay since the open. It's back up to 340, so we might see some recovery here, but I have no idea. But maybe. NVIDIA's bouncing a little bit. Google's bouncing. PC is not why the market's going down, Sarah. Market's probably going down because... Well, it's a mix, but market's probably going down because... Markets probably going down because people who bought options yesterday in MU couldn't sell until 930 at the opening bell, because you can't buy or sell options until 930. And so once 930 hit, MU started to drop. Hyperscalers were maybe a little bit worried about valuations, bottlenecks, and capex. And so they dropped. And then MU started to correct a little bit for profit-taking, probably. And that kind of just caused a lot of fear to show up at the opening bell. And that pushed us back down. And then the deeper we fell, the more it snowballed into more and more fear from retail. That's probably what we got today at the opening bell. Things are starting to bounce a little bit, though. We'll see what happens. Bitcoin getting hammered, too, though. Which is strange because yields are actually down today. Although Bitcoin did just bounce at 57.5s. So look at Bitcoin on the left. Stretch at 75, dude. It's supposed to be at 100. It's supposed to be like pinned to 100. But that's not good. MU bouncing a little bit. The NASDAQ's starting to fight its way back up. NASDAQ back at 29.5s here. What do you guys want to buy right now? Let me know. Boomers must be a stack. Dow is pushing up the highs, dude. Boomers. We'll never hear the end of it from the boomers, man. 52, 630s. I like you, boomers. I like the Dow. So you should like me because I like the Dow. It's all love. Look at the Dow, though. I said, what do you want to buy today? Strategy, NASDAQ, Spycall, Oil, GAPS, IBM. I'm down 5K. I want to cry. I'm sorry, bro. Everything. Gold trading like a meme coin. I'll buy tomorrow, hit or miss. Yeah, CAF, chill, dude. IBM. Boomers must be a stack up. They're static. Yeah. Gold trading like a meme coin. It's definitely a little scary of a day here. Look at the Dow. 52, 6, 5s. Bitcoin at 58, 8s. Where's Sam, the Fast Talker? Sam's here. He's right above you. [02:47:32] Speaker ?: Yeah. [02:47:34] Speaker 1: Who's that, dude? Is that somebody here? Is somebody here right now? I don't know. Oh, that's Burt. Hello, Burt. You didn't speak for so long, I forgot you were here again. [02:47:49] Speaker 2: Yeah, I was watching the market, honestly, just trying to get a handle on things. And I kind of got caught up in it. No, no, no, no, I'm not, not yet. I'm just, just trying to, trying to read it. [02:48:02] Speaker 1: Yeah, the Dow up to 52, 7, 5s here on the Dow. 52, 7, 7, 5s. So the Dow just broke highs. I believe this is all-time highs. 52, 7, 7, 4s. Yeah, this is all-time highs, guys, for the Dow. Dow's popping over all-time highs. NASDAQ bouncing back a little bit. MU's starting to test this low area again, though. So look at MU, it's about to break down under 1140, which is roughly the low. [02:48:29] Speaker 2: Wasn't the goodness gracious, there's John behind you. [02:48:34] Speaker 1: What? I still don't understand how the market can be so volatile. Yeah, I do. I mean, MU earnings are big. AI, the AI runs over the last five years have changed things, though, for sure, in terms of volatility and movement, percentage moves, like, what to expect, like, everything. So. We need a tweet to save the day. I don't know, dude. Like, I'm up enough, like, $700 on the day. I don't know what I want to do with this, though. I really don't know what I want to do with this. We're up so much. Look at the Dow rip. Here's gold. Gold's back up to 40,000 and 35. Hey, thank you, LS. I appreciate the love, bro. Thank you, sir. I made $6,500 in one trade. Nice. All right. Good for you. Yeah, that's good. Bitcoin has historically started its accumulation phase after breaking 200 a week of moving average. Surprise rate cut in July. Nah, bro. We're not cutting rates up July, dude. [02:50:13] Speaker 2: Hey, I wish I was, Steve, but no dice. At least not yet. [02:50:18] Speaker 1: Yeah, we don't have room to cut rates yet. We got to wait for inflation prints to start looking lower after the cheaper oil prices. So I don't think, I mean, again, a rate cut's not even on the table for July. I think right now we got roughly 30% chance hike odds for July. The rest is just pause. So 70% chance we pause, 30% chance we hike roughly. Unless it's changed since the last time I looked at it like a couple minutes ago. Yeah, it's roughly 28% chance that we'll hike rates. 25 basis points and a 72% chance we'll pause. Em, you start to fire this way back up. What if my thesis plays out? I told people I thought we might drop at the open. I didn't think we dropped this much, to be fair. But then maybe rebound late morning is what I think I said. That's what I said, right? I think that was my thesis. [02:51:15] Speaker 2: I'm pretty sure that's what you said. I mean, it would prove that you're, you know, a market, you're, you know, you're just a market genius. [02:51:22] Speaker 1: I know. Listen, that's, that's why I'm rooting for it to happen. But, you know, so I can brag about it. Uh, but, but yeah, we'll see. These are FOMC candles. No rate cuts this year means no bull market for Bitcoin until then. Yeah, I mean, there's definitely somewhat of a rotation out of tech going on. Like, Home Depot's up on the day. Like, you can look at some rotation out of tech for sure. Uh, but we're starting to climb back. EMU's back up to 1170s, NASDAQ back up to 29600s. I got two contracts just short of profit. The DAO is the rotation. So if you want to see the rotation out of tech, you can look at the DAO. It's less tech heavy. It's breaking all-time highs pretty consistently. 52 800s right now. So. NVIDIA's bouncing back, though. It's at 195. Hit 192. Basically. Uh. [02:52:27] Speaker 2: You can do it, Max. I believe in you. Yeah, good luck, dude. I mean, I'm not encouraging any reckless behavior, but, you know, I'm just saying I hope it works out for you. [02:52:43] Speaker 1: Yeah. 1180s for EMU. DAO's still pushing here. NVIDIA's bouncing back, too. Almost up to 196s now. Nike's actually green on the day. SpaceX is 153. He's basically flat, though. Alright, we're at 862s here. Look at EMU at 1180s. EMU rebound. It's fighting its way back up. With that, the NASDAQ is, as well. NASDAQ up to 650s again. I'm going to take one short position here on the NASDAQ here. One short. I haven't had many losing trades here, but I will cut this if it doesn't go in my favor. Again, this is a lucid-funded account. There we go. [02:54:07] Speaker 2: That's close to getting back to break-even, Max. So, you know, good for you. [02:54:16] Speaker 1: I'm going to keep this pretty small and cut it right here. Too big of a bounce back. Might fake me out. I'm still up 600 on the day. Biggest whip ever. I think the whip probably still would have worked at this rejection level, to be honest. But, uh, I don't want to give back my profit. [02:54:38] Speaker 2: Yeah, sure, man. Always rooting for you. [02:54:43] Speaker 1: Is it a system glitch that caused the dip? No. It's just... It's a mix-up. My short would have worked, by the way. It's rotation out of tech to a certain extent. It's options getting unlocked for MU, which is up dramatically overnight. Uh, it is a rotation out of tech and into, you know, the DAO and other things. Uh, it is just a mix of everything going on. Um, MU, Sandisk. I told you guys, like I said, I told you guys we could see this at the Open. Uh, I didn't think it would drop this much, though, to be honest. But, I mean, I think, you know, generally speaking, when something moves up really big, there can be profit taken at the Open. It's not a crazy thesis, right? Like, most of the time, something's up big, big. A lot of people get all optimistic and they want it to run. But a lot of the time, we get a little correction from profit-taking. You got to think of the psychology behind it, which is that when anything's up big, people are up big. They want to lock in those profits. But this is also, like, hyperscalers, maybe a little bit of fear, overvaluation, CapEx stuff, mixed with, like, bottlenecks with, uh, HBM chips. With MU-RX. [02:55:52] Speaker 2: I would also imagine, I would also imagine the more, uh, the market pumps, the more inclined people are to take that profit. Due to fear of, uh, of losing it. Yeah. [02:56:01] Speaker 1: No, 100%. I got it in short right here. You hate to see this. It got barely faked out on this little baby candle. Eh. You don't love it. You know? That was my short. No, I got faked out. L.S. says, nice entry. No, I got faked out. I cut it. I got out of that little baby bounce. That's why it's a sad face up there. It was a great short entry, honestly, in hindsight, but, you know. Wimpy John strikes again. Sorry, Bray, go ahead. [02:56:44] Speaker 2: No, no, it's cool. First off, Keo said, you know, sometimes it's good to, to, to wimp out and stay alive. I agree with that. Uh, second off, what in the goodness gracious says, no way we fall again. Dude, you better knock on wood and stop saying stuff like that. [02:56:56] Speaker 1: Yeah. Nothing's absolute. You know, only a Sith deals an absolute. Are there any other absolute quotes I can think besides Star Wars? Not that I can think of. Uh, but nothing's absolute. Nobody freaking knows. We could, we could very much do whatever you think is not going to happen. [02:57:11] Speaker 2: I just jinxed everybody in the chat saying that. I mean, I'm teasing you, but. [02:57:27] Speaker 1: It's okay, I made $1,200 in my funded account, but lost three evals. Well, you kind of, you know, depends on what size evals, but. [02:57:43] Speaker 2: Oh, well, I mean, if you're doing it for us, gracious, then, you know, thank you. You know, it says I'm doing you a favor. Y'all can actually shorten profit. [02:57:53] Speaker 1: Yeah. Listen, I appreciate it, dude. I appreciate it. If I wasn't a huge whip, I would do it. [02:57:57] Speaker 2: Hey, same here. [02:58:03] Speaker ?: Yeah. [02:58:06] Speaker 2: It makes you feel any better. John, I leveled up on Helldivers last night. [02:58:09] Speaker 1: I know, dude. Honestly, I was thinking about it as I was going to sleep. I was like, dang it, man. You're like, you and Chris are just going to freaking, you know, like I came to save the day the other day playing Helldivers. Y'all needed me. Without me, y'all would have been lost the other day. And then y'all, y'all play when it's super late that I don't appreciate it. And now, you know. [02:58:29] Speaker 2: I wasn't super late. It was like eight o'clock. And we all, to be fair, we only played like two rounds. [02:58:34] Speaker 1: Dude, I am a grandpa. I go to bed early, dude. No, I was watching something with Carol. So. [02:58:41] Speaker 2: Uh-huh. You just didn't want to hang out is what it was. [02:58:45] Speaker 1: Well, that's your fault. We'll wait for another job. I guess it is. [02:58:50] Speaker 2: I should be more interesting, you know. [02:58:53] Speaker 1: Is this live? No, this is not live right now. Like, I'm not responding to your comment. AI predicted you would say this. And I am an auto-generated response. Now is that coming back down here, though? [02:59:06] Speaker 2: It's indeed all pre-recorded. You know, I'm Nostradamus. I predicted what you were going to say. [02:59:11] Speaker 1: Yeah, that's right. Man, dude, I'm really upset I didn't hold that short right now, dude. I'm not upset. I can laugh at it. But, like, dude, top three worst fake out ever, dude. I got faked out at the very top. Shorting it would have made a lot of money. Bitcoin going to $47,000. Hey, later, Sam. Have a great day, brother. Later, Sam. Have a good one, dude. Appreciate it. Yeah, happy birthday, Flex. Happy birthday, my friend. Hopefully, you're not long today. It was a nice entry out last, so you're not wrong here, dude. But, again, big pop of paper hands over here. [03:00:15] Speaker 2: They call him Paper John because he gets that money, you know? [03:00:18] Speaker 1: Yeah, that's right. And I sell quickly, you know? It's got a double meaning. Yeah. Gold has got a flat today. It's still up from the PC inflation report. Profit-taking on MU. Oh, dude, you love Helldivers? Nice, dude. I don't play that much. You know, I'm only, I don't know what level I am. I've played three games ever. Level four. I'm level four right now. [03:00:50] Speaker 2: What are you at now? And I'm only level five. Like, you level up slower as you go. I mean, I guess. Plus, I think it's maybe performance-based. I did all right. But the point is, we're just getting into it. So, I like it so far. [03:01:04] Speaker 1: Yeah. [03:01:05] Speaker 2: Our buddy got us into it. And he's, like, well, he's good at everything, honestly. [03:01:09] Speaker 1: He's good. Yeah, he is. [03:01:14] Speaker 2: Kind of unfair, to be honest. [03:01:15] Speaker 1: I used to hate playing him in Halo, dude. He was sneaky. He was sneaky. Yeah. [03:01:20] Speaker 2: Incredibly, not just strategic, but tactical. Yeah. [03:01:22] Speaker 1: Yeah. Yeah, he was. [03:01:25] Speaker 2: He's also a very lateral thinker. Plans were the plans. [03:01:29] Speaker 1: Yeah. SpaceX down to 150s here, guys. 150s. As contradicting as it might sound, I think an equities flush out is exactly what crypto needs. Once equities finally correct, Bitcoin can finally put a bottom in. Yeah. I mean, I think Bitcoin wants an easing cycle in the Fed. And so, Bitcoin is going to. Maybe we'll get one at the end of the year. We get inflation down. We get the conflict settled. Towards the end of the year, maybe we'll start an easing cycle. And that might validate the four-year cycle and piggyback off of each other, so to speak. Maybe. I mean, that's a bull argument for it. There's definitely some bear arguments for it, too, though. Alright, so we're at 29.600s. Alright, so we're starting to pop back here, so we're back up to my short entry, my original short entry. [03:02:41] Speaker 2: Alright, goodness gracious. I'll keep that in mind. Thanks for the advice. [03:02:52] Speaker 1: Back up to 650s. What's the Fed watch to wear right now? 27.8. Okay, it's not really changed. Now, is that getting a jump here? Any news? Let's see. No, not really. I mean, we already had all the news this morning. [03:03:09] Speaker 2: Yeah, it's been an interesting market day, but not really news-driven this time, at least. [03:03:14] Speaker 1: Well, it's news-driven. It's just not news from, like, breaking news, like, intraday. It's, I mean, PC and GDP move stuff, but this is all just kind of shakeouts from MU earnings yesterday. [03:03:24] Speaker 2: No, I mean, that is news, but I think, I guess I should have been more specific, but I think you knew what I meant. [03:03:31] Speaker 1: Yeah, yeah. No, I understood what you meant. The uncertainty is the worst thing for risk assets. Uncertainty with conflict, Clarity Act, inflation, Fed. We ought to do the playbook. Yeah. Yeah, I mean, we're holding right now. We dipped about 2.5% of the bell, but we're starting to bounce. So, it's not unrecoverable. Like, we can recover. We'll see. We'll see. Where's the contractors? Are the contractors not here today? [03:04:08] Speaker 2: Are they boycotting you guys? [03:04:11] Speaker 1: Honestly, dude, I kind of hope they do today, bro. I've had contractors here every freaking day for three days now. [03:04:17] Speaker 2: Yeah, you get no peace, no quiet, and you can't, like, relax because you've got to keep an eye on everything, make sure everybody's doing their job like they're supposed to. [03:04:24] Speaker 1: Right, exactly. So, Stone Ridge Private Credit Fund reportedly limits withdrawals for four years, according to Wall Street Journal. Yeah, I had to bring Bruce to the vet yesterday. [03:04:38] Speaker 2: Yeah, how's he doing? I was going to ask that, but I didn't want to distract from the trading. [03:04:41] Speaker 1: He's doing better. You know, they gave him some meds. He's doing all right. [03:04:45] Speaker 2: Okay. He's sprained an ankle or something? [03:04:47] Speaker 1: Yeah. But he's actually walking better. It was weird. We brought him to the vet. He immediately started walking normally. [03:04:56] Speaker 2: Yeah, part of that, my dog used to be, we brought her to the vet, like, even when she was feeling bad. A lot of the time, it's just because they like, a lot of them like going to the vet, believe it or not, because they get, like, really good treatment. They get rubbed down, and they can tell when the vets really like them. You know? [03:05:10] Speaker 1: Yeah. [03:05:11] Speaker 2: And so, like, my dog loved going to the vet. [03:05:14] Speaker 1: Yeah. Bruce did not. He doesn't like the vet at all. [03:05:18] Speaker 2: Well, then never mind. Forget everything I just said. [03:05:20] Speaker 1: Yeah. He had to get allergy shots for a while, so he doesn't look like, you know. [03:05:25] Speaker 2: Yeah. [03:05:25] Speaker 1: He didn't really care about him that much, but he just, you know. [03:05:29] Speaker ?: Yeah. [03:05:35] Speaker 1: Jesus. Yeah, Nasdaq's still fading back down at that level. That top worked here. So, look at this top at 680, 675s. We went right back up to it. We have a triple top short term at that level now on the Nasdaq. Is the Dow still moving up? I don't know. Yeah, we're at 52, 972s here. Hmm. [03:06:05] Speaker 2: Bruce Wayne. Dude, I would absolutely name my dog Bruce Wayne just so I could dress him as Batman for Halloween. [03:06:09] Speaker 1: Well, Bruce looks like Batman, you know, so. [03:06:12] Speaker 2: He does. [03:06:13] Speaker 1: Yeah. [03:06:22] Speaker 2: Specifically, it'd have to be like an Adam West Batman. Yeah. [03:06:34] Speaker 1: Bad dog double or triple top. It's a triple. We have a short term. We have one, two, three. I see it as a triple. I don't know. It could be a quadruple for all I know if there's another confirmation short term. That's what calls the red. I think it's just MU selling off. All right, guys. So, I think I'm going to go ahead and get out of here. We're starting to consolidate. We'll see what the market does for the rest of the day here. But, yeah, I think that's going to be my time to bow out for the day. Again, if you want to help support the channel, check out Lucid. Lucid is great because it has end of day drawdowns and everything. It has, in the Lucid Flex, it has some of the best rules in the game once you're actually funded in Lucid Flex. It's a little bit harder to get funded in, but not super bad. Takes you two days, 50% consistency rule. But once you're actually funded, no DLL beyond initial trail, no consistency rules. So, some of the easier payout rules once you're actually funded. Great rules in general. End of day drawdowns. 10-1 micro scaling. 90-10 split. No payout windows and more. Check out Lucid. It's pinned at the top of the chat. Again, Apex also has 90% off. So, on Apex right now, you can get five accounts for $17 each. $85 for five if you use intraday trail. End of day trail, it's $175 for five. $35 each. 50K, you can get it for $195 for $39 each. So, very cheap for Apex as well. Again, you can use the same coupon code on Tradeify. They've got a select option, which kind of lets you select your path. Good rules once you're funded as well. Take Profits is great for beginners. Great to learn on. And honestly, it has some great rules as well. Some easier rules. So, check them all out. We appreciate the love. And, yeah, guys. Good luck, my friend. Yeah. We'll see what happens. [03:08:32] Speaker 2: Thanks for tuning in. Yeah, thanks for tuning in today, everybody. Hope you have a great day. [03:08:36] Speaker 1: Have a great day, guys. Love to everybody here. We'll see you guys later. Y'all be good. [03:08:41] Speaker 2: Goodbye.