PREMARKET LIVE: The Trading Floor — Stocks to Buy Today

[00:00:00] Speaker 1: Hey everybody apologies the amount of information I had to get through this morning was just absolutely insane give me one second here I'll just get some tunes and put this on and I do apologize for this being this give me a minute [00:00:45] Speaker ?: so so so so so so so so so so so so so so [00:02:17] Speaker 1: I'm already late that's enough I apologize guys let's start here there's a time to go over so I will uh I'll stay as long as I can I'll definitely stay past nine so yay no all right let's do it so let's get rid of this let's go to the ES we'll go to a five minute we'll go to a bear chart and it's pretty clean but clearly you see that bottom and you see how you've gotten there so you're holding that area and you just want to make sure that you're holding it usually futures love doing a good undercut um I do want to point something out you know left head right neckline I really wouldn't be surprised to see the S&P underperformed today over the NASDAQ that would not be shocking to me to watch a rotation today so you need to be really cognizant of that I just think that the rotation might just not be an energy um because no one believes that there's going to be a ceasefire but you can see how we got right up to this level and I think that's super important other things that I think are very important for watching with the ES today uh is to go and hear and just say like hey that's like drop dead level you're nowhere near it so could it could it happen anything can happen right do I think that happens no um in regards to that low that happened on June 10th you can see that that is still a battleground drop it like it's hot on a five and you can see that you're still fighting with that level so I think it's prudent to leave that in if we go to Sunday and we just drop in the value area right in here and go from there you can already see that from that area you're under that area right so you probably don't want to be from a trading standpoint I don't think you want to be too aggressive until you can kind of get through that area and really just kind of get above this area and here so from that my standpoint on the ES that's really how I say it and I don't think there's really a whole heck of a lot more there we can drop it like they're hot on the peak and just go to this low and see if there's anything else there what's interesting about this to me is that that still takes to that 38 level right here right and so you can see that 38.2 fits right where we are before and if we take from the top to the bottom the 50% line is exactly where you hit so then what you could do is take this level right here and as the kids say drop it like it's hot do you think Snoop would license that to me and then I could just hit it like a button and so from here down right I look at that as negative right so you have negative down here so you have net sellers and then above that you have what net buyers so that's how I would view the week right now on that level and demarcation line until you got above it and that's really how I say it so in regards to everything else let me just see that right there and grab this and drop it in here and then I'm good all right let's go to NQ and do the same thing and see what's going on there NQ and do the same thing I'm in a mood I am in a freaking mood all right grumpy so grumpy why is he so angry [00:06:26] Speaker ?: so angry [00:06:27] Speaker 1: all right let's go here we can see that level right there I think it's important do we see this again I don't know maybe maybe not like gee that's helpful I would have preferred like just rip the freaking bandaid off flush it you know sometimes everybody's waiting for the same thing and you never get it because everybody's waiting for the same thing if we did the simple thing and just and I like to keep it simple right not over complicated and you just drop that you're nowhere you're not even close to peak VWeb so you have a lot of room there in regards to those levels I just pay attention very closely to them if we go here you can see Sunday June 14th and since then what have you done low low low right I mean you can see that really easily isn't it technical analysis make you feel like so silly like after the fact like why in God's name didn't I just you know follow that trend it's crazy how that works right but it just makes life so easy at the end of it doesn't it anyway so if we look at these levels and how we're acting you know into them I think it's super interesting because you're at the lower end and you can trade back up and then people think it's over but it might not be right so then we just drop this to here to a five open it up and you can see those levels and how high that you could actually really get to today in my opinion and this is drawn like crap but it is what it is so then from there that's not where I want it if you are trying to get into the community you should have an email today if not the last batch of out today and then enrollments close till September because this is going to get wild this is going to get wild so you can see the difference in the NASDAQ versus the S&P and how that's acting right so where the S&P can't get through that value area the NASDAQ's like hold my beer no we're going we're going boomers so you're actually flipping here and I think that's a very important distinction that you should take from that today you're getting net buyers here way different than you're getting in the S&P and that's what I think is going to happen today I think they're going to rotate out of defensive I think that's what's going to happen which makes sense because I'm in a ton of defensive so time 27 years time to learn another lesson anywho if we take a look here at that and how we're holding we just really want to be very cognizant of that and I think it's really important there's no need for averages or anything else you're not near anything but I think that they're your big levels and that's really what I would watch and that's what I would pay attention to so and if we mark those off we can just drop them in right there and then you can go from there and do whatever you want with them and go from there alright cool in regards to names with the time we have I'm just going to take questions because man I can go through a ton of names there's so many damn names to go through so just be aware of that I mean there's so many Jesus go back to this flip through this real quick just open this up so I can see it what was interesting oh I thought this was super interesting NBIS increased their stake last night they didn't decrease their stake they increased their stake in NBIS and I think that's really an interesting time to do that why everyone's waiting and thinking this is the end of the world and there goes NVIDIA buying more NBIS not less so super interesting what they did there to say the least TX is that Texas Roadhouse so I actually think the consumer is way stronger than we think it is and I don't know how that is I guess they get all the fixings there but you might you know what's interesting about that Jay did you see Cracker Barrel today CBRL Cracker Barrel came out and raised guidance and you know that's after they you know got rid of the old guy on the rocking chair which apparently was a bad thing but I think it's super interesting that you're seeing these kinds of restaurants do really well so yeah I think there's definitely something to it they're super volatile names to say the least but you're really setting up to break out here and I think that's super important you know like really important for us to see and go from there so keep that in mind I do like that name I do think it's interesting FSLY you know you had a great quarter everybody loved it I thought this was fantastic and then it was like this quarter was a dumpster fire so I don't know what you're gonna get here and there's no rhyme or reason to it so it's certainly not something that I'm I'm gonna play I mean I'm just gonna be blunt about it like I'm not gonna go near that you know it's not it doesn't even make sense to me to get involved with it like not even a little bit so I'm not going to and just you know be aware of that so you know that's kind of how I say it give me one second here yeah this is super long one today so let me get through this and pop this out and go from there all right cool um I don't know man I think there's better names dude I really do what's up Tariq so you had really good news the other day and nobody cared and I I really find that very very troubling um like really troubling that like nobody nobody cared like you had super good news and everybody was like yeah whatever and it sold down so I think there's better fish to fry I mean I have a tough time with this and what's happening too is rocket labs relative to like if I go rocket labs relative to SpaceX you're not like doing anything so like here's the opening right but then after that opening they're trading in tandem so like if you look here I'll show you what why why you care about this so like if you just get rid of that opening price right and let's just use this to to kind of hammer it home you're pretty much flatlined so like the parity between the two is pretty in line right like you're not really coming that far off let's get rid of this for a second so I can explain why you care about this so you see the parity of this like you're not that far off maybe you're three or four percent off that line maybe five so they're trading as one big group so as they decide that SpaceX is worth less money let's get rid of that line as they decide that SpaceX is worth less money they're deciding that rocket labs is worth less money they're deciding that ASTS is worth less money and so what you're going through is you're going through multiple compression and as you go through multiple compression that's really what you want to pay attention to so I think that that's very important for me to state and that's how I say it all right so do what you want with that but that's really how I say it and I think that that's really important like I don't think it's a function of rocket labs I don't think it's a function of any of them I think it's a function of SpaceX and what they're doing is they're saying that if SpaceX is worth X then this is worth Y it's no different than what they did here with SK you know HY and you know what I would watch there there is just here let's throw that out there so like what you'd watch here is like hey can I get back to the IPOV WAP and then how do I act there so you know that's definitely you know on my radar hold on I'll put that out there so I put an alert there and now you have earnings what August 4th so you know how are those earnings going to go they're going to be a dumpster fire how can they not be a dumpster fire like you know you can't slow slides and pictures of Mars on I guess you can so I don't know NBIS I actually bought it yesterday last night on that news that they increased their stake and my reasoning was really simple you're a short you're long and short tech you're short tech you're short NBIS and then the 800 pound gorilla comes out and says oh we're buying more of it and you're short it and you've been getting your butt kicked for a month right so that's why I went long it I don't know if I'm staying here or not I kicked some out already you know I'd watch the 200 level and then from there I'd really watch yeah I mean I think it's 200 really is your issue mentally and kind of go from there and go from there so let's go there and keep going here guys and I really do apologize for being late what's up Jay okay I have no interest in OKTA Annette so I saw you mention Annette earlier so the problem with me trading OKTA is I might as well just kick myself like it's just extremely too volatile I don't make any money off of it I'm always annoyed I'm always on the wrong side of it to me like watching when these things retest those levels is probably the best way for me to look at those names and then take my shot like if I did that with D-Dog I did really well buying D-Dog off the break but these things are like they're so hard I actually I really think the way to do this is and when I go back and I always study how I made the most amount of money buying CIBR or buying cloud and building positions so I have less volatility with them has always worked for me I saw Net have a blockbuster quarter like blowout quarter and it fall apart this quarter was fantastic whatever they saw in there that they didn't like was ridiculous and you know you're down at the end of it literally you're down $75 on a $200 stock and then after three days they're like oh that was a mistake and we're back to heist like these things are you know insanely bipolar for lack of a better term and I'm not going to say it but they're insanely bipolar I like this name I don't like that chart and I have a really tough time with these and the reason I have such a tough time with them is if you looked at like here watch if I go here I'm just telling you where my issue is if you just look at it from a standpoint of the red bars well that didn't work at all so here I'll do it this way real quick and you'll say it like if I went to this this is going to take me too far it's going to take too long but I'll do it let's just do it so if I go here and I get rid of all that for a second hold on go get it in a minute so like here's the red bars right like look at them and how extreme they are they're all like super extreme all the names are like this and then if you go and take a look at like the green it's never the same it's like it's never ever the same movement when you go and take a look at it now you'll be able to see the green easier with your eyes but like because we removed it but like they're all these small like oh we made four bucks we made four bucks we made four bucks wham like oh we made a couple dollars wham well that's earnings you know you had one or two days three that are even commensurate with everything else you have here so for me tech like that man on software no I just they're too wild like even the other day like all the stuff that's going on with you know cybersecurity you know we had a great trade buying these off the rip and then you know earnings and of course you're up a lot so that you know it comes down off of earnings finds a bottom lifts you can say it right here right right to the 22 right to the 22 the whole time right so but man when these things come in it's like no no and they just puke them they absolutely puke them and now look watch this now you're getting divergences up here and you know what's crazy about this I think you just have a freaking bull market that you're rotating through when I start to look at it but now I'm not feeling it good morning from Boone I don't think you're back to risk on I think you're back to the market's not going to collapse live camera on Larry that's funny people actually thought I made Larry up yeah I think that everyone's starting to realize that oil's just going to go higher I really think that that's where people are at I thought for sure you would taco over the weekend when you lose servicemen he's not going to taco he can't taco it's not possible to for him to do that so I think if you close oil over that level you really got to watch like this is where you're closing over it here and it did fail but it became real clear like nope that's it it's over you're trying it over it it holds it breaks below it cool I'm out I don't see a peace deal because he's going to look extremely weak with any ceasefire or peace deal and he does not want to look weak so I think you have to start you know you play the game but you got to play the person so you know we've ended this war what 37 times now and now you're at a point where servicemen have died and so it's very clear that you've not degraded anything it's very very clear so the question is what are you going to do and how are you going what are you what are you really going to do there and it's not the U.S. like you have to think about this for a minute like it's not the U.S. that's trying to mediate this like Rubio says we're open to it but the U.S. is not pushing for this at all it is the the neighboring areas who just don't want it and who can blame them so so that's super interesting like what's up Ricardo so that's interesting I do think that's interesting how well they're doing like this is not supposed to do well if the labor market is not good so I do think that's interesting you can wait for that there's nothing wrong with wait for a follow-through day like like look man like here's the thing that I always tell people it's so interesting like if you if you bought the breakout here right or you bought the breakout like two or three days later like does it really matter you know like everyone's like oh we missed it like all right so like I'll give you an example yesterday I sold puts on on Sandisk right to open and so like I'll come in today and like oh we missed it like okay if I was if I was selling puts the entire time here did I miss it so like it's a it's a day you're under the 55 the 22 screaming down and the 12 is in your face and like I'm supposed to get excited because we're up 100 points on a $1500 stock like everyone needs to kind of chill out I do think certain names are going to outperform other names you know just look for relative strength today I think it'll be pretty obvious which ones outperform but I think you have to think about it I don't care about midterms everyone's so worried about midterms and they all know what's going to happen on midterms bro get through the week Google AMD like get like when you have a market like this and you're this is what your Nasdaq looks like get tactical not strategic right like if you're here and you're trying to get tactical about like or you're trying to get strategic like hey what's going to derail this is it you know is it June 30th are they going to get out and lock in their gains for the quarter like what's going to derail us here like that's one thing but when you're in the weeds like worrying about midterms like November man I don't even know what I'm having for lunch today like get super tactical in here you know where are the levels that you want to buy what names do you want to buy what are your stops on those names like super super tactical or maybe you don't want to do anything like you don't have to right but like there's times to be tactical and there's times to be strategic when you're in the weeds and we're in the weeds you get tactical right and when you're not in the weeds and you can chill out and you have a trend get strategic but there's a huge difference there man what's up boomer what's up mom I'm sorry hello from Tokyo hello from Miami I don't know I'm not feeling it I'm really not feeling that like there's so much danger like all I keep seeing when I look at this is like lost in space and I keep seeing that robot danger Will Robinson like there's so much there bro that you got to be careful of you got negative divergences in your face in the face you got a rising wedge that's saying come on in bro water's fine you got rejection up here it's the same rejection when we fell off a cliff they're selling 13 dollar lattes that give you the diabetes so I don't know man I'm not feeling it what else you got what else you got for us you always got good stuff 80p that's interesting it's right there the day after earnings all those people that sold at the close so I'd watch that you got to get through it you might get through that you can see the change in payrolls by looking at it you could probably overlay payrolls with that you ever do that overlay non-farm with it might be really interesting to look at or overlay adp weekly employment data god I'm a nerd I'm way way too [00:26:52] Speaker ?: way too [00:26:52] Speaker 1: excited about that but I bet you could do that I bet you could overlay adp weekly employment data and see something let's see if we can do it like super quick I love we can do stuff together what time is it all right I go so so here's adp employment change let me see if I can get a chart and go and take a look when it's up to 26 so we've got to take a look at a year December 27 it bottoms so it comes out and it bottoms out December 27 and so the next quarter of earnings are going to be bad right because the art because the the employment date is bad right here hold on so like I'm like I'm just screwing around but I'm wondering if there's something to it so like if you look at this and then go all right well October December is bad March it's picking up May it's picking up so you have to think about it and say like well obviously this is going to be bad because the the payrolls are down right and now you're starting see the payrolls start to kick back up again and they're starting to kick up again in March but by the time that kicked in you got some of that into this quarter right so you're going to have all that into the next quarter so there might be something to that you might want to look at that you might want to play with that Jacob I don't know if it's going to rebound why would it rebound it's insanely priced they shoved it down their throats and they shoved it everywhere like I'm short I've been short like it's a ridiculous valuation that can't even be justified so they sold it globally I mean like it worked for two days three days it worked enough for them to come out with options for everyone the hedge that had their their their their holdings you know ipos have become a dumping ground guys like it's very different than back in the day back in the day they used to go to the markets to go public to raise capital right now it's just like we're going to keep private be a dumping ground now the options are out so now we can sell calls and buy puts against our position and then we can just sell the dream to everybody else oh and by the way let's shove it in an index so like a sausage so this is what you get so I'm short I've been short we're doing quite well with it I don't know where John is I noticed that too that's what I'm saying like that's not going anywhere you know it's making more headlines now yeah yeah he's going to tariff people because he's all like annoyed he tariffed a tower of cat I mean you have to laugh like he tariff Canada because there was a fire like yeah I think you might want to look at that yay welcome yeah it takes time to turn right all right what else so yeah well SpaceX is going to be worth more than all the companies on earth all right make good choices