All right. Hello everybody. Welcome back to another episode of the market close. We are going to go live right to Manny and Trump and that's why we are early and uh then we will get into everything going on in the markets. Let's pull this up real quick and then we will get into these headlines.

>> Even the first term and I can tell you some of my views have changed and we we had discussions on some things. I'm not going to discuss what they were but that I feel very confident that he can do a very good job. I think I think he's going to be I think he is going to surprise some conservative people actually and some very liberal people. He won't surprise him because they already like him.

>> And uh Mr. month. Um, it sounds like you had a productive discussion, but just days ago, you referred to President Trump as a desperate who trade the country. You said you'd be his worst nightmare and accused him of having a fascist agenda. Um, are you planning to retract any of these remarks in order to improve your relationship?

>> I think both President Trump and I, we are very clear about our positions and our views. And what I really appreciate about the president is that the meeting that we had focused not on places of disagreement, which there are many, and also focused on the shared purpose that we have in serving New Yorkers. And frankly, that is something that could transform the lives of eight and a half million people who are currently struggling under a cost of living crisis with one in four living in poverty. And the meeting came back again and again to what it could look like to lift those New Yorkers out of struggle and start to deliver them a city that they could do more than just struggle to afford it, but actually start to live in it. and I've been called much worse than it does bud. So it's not it's not that insulting. Maybe I think he'll change his mind after we get to working together. Yes, please.

>> Mr. President Anthony Marsh from MTV Lebanon. I I would like to ask you a question about the Middle East regarding you did said that in Lebanon is not in a good position and Lebanon now is the final unresolved after Gaza and Syria. Given your assessment like what do you say for the Lebanese today? It's the independent stay in Lebanon. And what is your next move to push toward disarmment? The disarmment of

>> We are pushing for total disarmament of Hamas and frankly everybody else. And we actually have peace in the Middle East. As you know, the king of Saudi Arabia just left yesterday. We had some great meetings and he's uh made a contribution toward the United States of more than a trillion dollars. We have now over 20 trillion dollars coming into No Country has ever had anything like that. Not even close. If you go to two trillion or one trillion, it's a lot. We have 20 or 21 trillion dollars. U I think that uh Hezbollah has been a problem in Lebanon. Big problem. We're working with Lebanon. We're working with everybody in the Middle East. That's another thing I think we have in common. We want to see peace in the Middle East. And we actually have now for the first time peace in the Middle East after 3,000 years. And now we're going to refine it. And I think you're going to see some very positive things happen. the potential to invite the Lebanese president to meet you to the White House.

>> I would I would do that. Absolutely. And if the mayor would like to be here for that meeting because I know he feels very strongly I think you feel very very strongly about peace in the Middle East.

>> We we we desperately want it and and that's something that I shared with the president that when I spoke to New Yorkers who had voted for the president last November on Hillside Avenue in Fortm Road, I asked them why. I heard again and again two major reasons. One was that they wanted an end to forever wars. They wanted an end to the taxpayer dollars we had funding violations of human rights and they wanted to address the cost of living crisis and I appreciated the chance to discuss both of those things.

>> Mr. President, Mr. President, Mr. President, you've threatened to send federal troops to New York City. Uh you both have differences when it comes to ICE agents uh in New York City. Mr. Mdani, you've called ICE a rogue government entity. I wonder how you reconcile your differences on both of those issues.

>> Well, I think we're going to work them out and I think that uh if we have known murderers and known drug dealers and some very bad people, you know, we want to get them out. And the mayor wants to have peace. We discussed this at great length actually, maybe more than anything else. He wants to have a safe New York. Ultimately, a safe New York is going to be a great New York. If it's not safe, no matter how well we do with pricing and with uh anything else, we could talk about anything you want. If you don't have safe streets, it's not going to be a success. So, we're going to work together. We're going to make sure that if there horrible people there, we want to get them out. I think he wants to get them out maybe more than I do. So, we'll work together. We discussed it at great length. Yes, please.

>> Yeah. Two questions if I may. One for you, uh, Mr. present on BBC in a second. But but first of all for the mayor elect um you're both um from different parts of the political spectrum. You're both populists though and I just wonder to what extent um the president's campaign style uh his techniques, his social media use inspired any part of your campaign?

>> Well, I actually told the president that you know so much of the focus of our campaign has been on the cost of living crisis. And when we asked those New Yorkers who had voted for the president when we saw an increase in his numbers in New York City that came back to the same issue, cost of living, cost of living, cost of living. And they spoke about the cost of groceries, the cost of rent, the cost of coned, the cost of child care. And too often politicians are looking to lecture to New Yorkers what they should care about as opposed to listen. And when we spoke to those voters who voted for President Trump, we heard them speak about cost of living. We focus on that same cost of living. And that's where I am really looking forward to delivering for New Yorkers in partnership with the president on the affordability agenda.

>> and I think we have to work a little bit. We talked about Con Edison. We have to work a little bit on getting the prices because, you know, we've gotten fuel prices way down, but it hasn't shown up in Con Edison and we're going to have to talk to them. You know, if if we're saying sending them fuel at a much lower price than it was a year ago, which is true, uh we have to get Con Edison to start lowering the rates. Absolutely.

>> And if I may, um, last week you told me, um, you were pushing ahead with your plans to sue the BBC for up to5 billion dollars. You're going to speak to Prime Minister Starmer as well. Is there any progress or any updates on those issues?

>> Well, we get along very well with the prime minister. We made a deal with UK. I like him. He's a fine person. And, you know, I think they have some big energy problems. You know, they've got windmills all over the place. are going to have to start using other methods because their energy is out of control. Talking about in the UK, it's out of control and he's got that problem.

All right, so that is Trump and Mdani. Thank you everybody for being here. We did start early to see kind of what this meeting looked like. Uh rather amicable meeting. I mean it's not really a meeting with sort of an aggressive undertone from either of them. I mean, some of these quotes from the meeting is, "We got to work together on the cost of living. There's an affordability crisis." Trump says, "I think we're going to do a good job together." I mean, it actually was very friendly. So, nice to see that from Mumani and Trump in the White House. What is going on with the markets?

We're green. 1.21% on the S&P 500. It has been an absolutely wild day uh in terms of how some of this price action has played out. PayPal's green. Micro Strategy was more red. It's still red on the day, but not as red. S&P a full 1.2% move to the upside. Rocket Lab at 40.56. BMR still red given Ethereum and crypto still down. Palinger from 147 to 156. Nebius was almost below 80 at one point. Now back above 84. SoFi was at 2380 now 2531. So what happened? What caused that reversal?

Well, we had a headline and quite frankly, I didn't expect this headline. And I don't even know if this headline even matters to be honest, but it is a headline that got the markets excited. The Trump team is internally floating the idea of selling the H200 Nvidia chips to China.

That at 1:52 p.m. Eastern when it came out um kind of flipped a lot of the market. I mean, I ended up going green for the day as soon as that happened. You had a lot of different names pumped. Not everything pumped, obviously. crypto still taking a hit, but that definitely was the pivot. Nvidia got all the way down to 176 on the day. 176 172, sorry. Yeah, 172. That was at around 11 a.m. Then it kind of started moving back up. Then it fell back down to 179. And now you still are red on the day on Nvidia. 1796, but we did get up to 184 as soon as the headline came out. S&P 500 right there at 660, up 1.2.

Now, how do we analyze the headline? Number one, I think the headline is irrelevant for Nvidia. You can't tell me the market is more happy about Nvidia being able to sell to China uh after the guidance and the earnings that they gave. I mean, the market should be happy with the earnings and the guidance without China. If you add another $20 billion a year from China, like that's good, but that shouldn't be enough to u like reverse all the pain that we've seen over the past couple days.

That should definitely be enough for an intraday reversal obviously because you have a lot of traders that are going to be bullish on that headline. But it's just very weird how the market reacted to it and it's almost like we were getting so oversold to the point that the market needed some type of headline and that headline ended up being on the most important company on the planet.

Now why would this get leaked from Bloomberg potentially from a White House official to Bloomberg in order for the news to come out? Well, uh I've been wondering I think all of you guys have been wondering what headline Trump might come out with to stabilize the markets in April. It was as simple as reversing the tariffs. This time you've got a more complicated situation given rate cuts and inflation. So, what better headline than to pump the world's most important company? And so, it seems like the White House kind of selectively said, "Hey, we're going to get some really good news on Nvidia. See if that can stabilize things." And the S&P is up 1%. So, it definitely did stabilize to an extent,

but it is a very weird move because it's like this is not a reason that the market should be excited about Nvidia. The earnings that we got from Nvidia should be a reason the market's excited, which is why you're seeing the move kind of fade off a little bit. And it's just very confusing to imagine that going into next week, this is the pivot that we need and we have officially bottomed. And I really hope we have. It feels like we definitely got technically sold off on a lot of key levels,

but next week we're going to have a lot more data in regards to jobs, inflation, how the Fed is thinking of this. We did have a lot of Fed speak this morning. Some of the Fed presidents were bearish. Some of the Fed presidents were bullish, or I should say hawkish versus doubbish. One of the most important Fed presidents, the New York Fed President Williams, who is one of the biggest proxies in the context of JPAL, was pretty damn doubbish and said, "We probably need a cut." That in the morning got the market moving green. But then we faded and then this Nvidia headline came out and then we pumped and now it's kind of fading.

So again, I still think there's just fear around the idea of what's going on. But it it goes to show you as well why panic selling is just likely not the answer here. Um, one headline, one simple tweet by Trump, one simple idea about Nvidia can turn the market up. I mean, the S&P was down about 1.2%, now it's up 1.2%. Complete reversal off that Nvidia headline. And if if the market is that fragile, obviously, the downside volatility can be tough, but that also means it can reverse very quickly, which is why running for the hills might not be the best idea.

69.5% chance on the rate cut probability that was 75% today morning. was, you know, down um down at 30% yesterday. So, the fact that we at least got the move back up into the 70s is not the worst thing. Sherpa says at least it's not as bad as yesterday. Yeah, at least we got a little bit of stability going into going into the weekend, which is what matters. I mean, if we were uh if we were going to crash going into the weekend, it would have sucked. And so, I mean, it looks like we're going to end out green on the S&P, maybe end out red on Nvidia, but at least we're not $2 away from going below 170 on Nvidia.

So, that was kind of the main headline that happened uh throughout the day. It was really this Nvidia headline that changed everything and that's when you got the market to get a bit more excited. We did get a little bit more BLS data right here from Bloomberg. So, this BLS data, well, first of all, the BLS, Bureau of Labor Statistics, that we're not going to get October CPI, that also wasn't the best in the world. We did get some PMI, some consumer confidence data, all of that was relatively good. slight beats in some of the metrics, slight misses on some of the others. Market didn't care too much about this.

Here's a piece of data we got yesterday or this morning that I thought was really interesting. Americans with four-year degrees now make up a record 25% of all unemployed people in the country, aka white collar jobs are slowing down for the first time in a long time. The jobless rate for a bachelor's degree is higher at 2.8% up.5 percentage point year about 1.9 million people. Youth 20 to 24 unemployment is 9.2% 2% up 2% uh over the past year and 2025 job gains are almost entirely in health care, social assistance, leisure and hospitality with employment flat to slightly negative elsewhere.

I mean that October jobs report when you look at a sort of aggregate piece of data like this, it's hard to imagine that October jobs report is going to be pretty. And even if it's positive, it's not going to be positive in all the other sectors. It might be only positive in certain sectors, which again is going to beg the question around unemployment and the labor market. So, the labor market's an issue. There's no way to deny it. We understand the labor market's a problem. The only thing that we can hope for is the Fed recognizes that even if they don't get the data, but regardless, you would imagine that hopefully that leads to a rate cut.

Here's another thing I forgot to mention about that headline. I don't think China wants the H200s. They want Blackwell. I mean, they've been pretty clear that they don't want the beat up chips and the old generation chips. So, again, the fact that Nvidia moved on that headline, it was just very weird. I just think it was oversold and it needed some type of juice to get moving, but uh Blackwell is really what China wants. And you know, if they don't even want the H200s, that might not be the most exciting thing for Nvidia's earnings growth into China.

Amit: well, let's pull up the the S&P. We're going to get guys, we're going to do S&P and then we're going to get into rapid fire. We'll do two minutes 30 per tick. So, we'll try to do as many tickers as possible. But I mean in general I do think the analysis on what you think is happening with the index would be valuable here.

Jason: There are a lot of things going on under the under the covers right now. And so um I was listening to an a technician on like CNBC earlier today and I was like wow okay I hope hopefully I don't overly complicate things.

Jason: So the what's what's true is that the setup is um the setup is for a violent move right now one way or the other and and technically speaking we got to start the timer. Oh you want to do this timer on this one? Yeah just five minutes five minutes on this one. Y all right fair enough. So technically speaking, um there are signs of of of us fading here and there are there are have you talked about the yen stuff, Japan? And so that that is a bit of an overhang and it's probably adding a little bit of fear to the markets and with the the influx of data coming in that we haven't had for a really long time, the market just just hates uncertainty, right?

Jason: And while we got Nvidia this day, we also at the same time backtoback got non-farm payrolls, which if you haven't figured out is the biggest the biggest thing for the market. And what this candle should tell you is that even though Nvidia is extremely重要, non-farm payrolls is still more important. And so, while Nvidia took us to the upside, non-farm payrolls pretty much took us to the downside.

Jason: [clears throat] And and all that said, at the end of the day, it kind of washed out basically even closing right about here. But this is where we are now. We're going to actually get a slew of non-farm payrolls moving forward faster than normal. And so it's all it's all currently in flux. We are trending slightly down. We do have a bit of a slope here. So unless we can get over basically today's high now and if we do get over today's high where I'll tell you that we will go is to this level right here and and just like we talked about that Nebas chart it's going to be it's going to be as simple as two lines in the sand and it's yesterday's high and low 675 and 651 and and the center line is today's high right and so

Jason: today's high happens to actually be 50% of yesterday's range, which when you look at this is pretty simple. So today's high was like right in the middle, smack dab of the middle of yesterday's range, which is very much [snorts] uh to be expected for a basic kind of push back. And if you can get over 66372, look, we're very likely going to get close to the highs. And this is this right here, this moment in time, this is going to be your point at which you decide, do I want to take measures here now? Protect my portfolio. I don't mean sell anything. What I do mean is like callers, things like that. Selling selling covered calls. That's your opportunity.

Jason: Um, right here. And and it's going to be very much sentiment driven. So, does the market give you that opportunity? That's what it is. If we're trending lower though below essentially today's low [clears throat] then that violent move that I'm talking about actually in both scenarios and I'll show you then this this whole thing trending down is is is possible um and this is probably not going to be US related this is probably what they're they're yapping about in terms of like the end thing right the Japanese thing it's not going to be all in once this is like a multi-mon thing u but right now. This right here, 650, that's the lows. And so when you're deep red like that, that you don't want to sell that. Honestly, you'd probably buy that cuz we're going to bounce. Um, and that's exactly what we did. And we're not going lower right now. So, for now, the bottom is in. And I don't think that we're going lower right now. We're just not going lower. Today, all the internal gauges actually said that buyers started stepping in and it actually looked pretty constructive overall. So, I think that the local lows are in right now and that we're in for a pretty what's going to feel like a aggressive bounce and it's going to get a bit it it might get a bit euphoric, but I don't want to get over my skis because we're actually not out of the weeds yet. The only way that we get out of the weeds, like out of out of like that we're no longer in trouble, is if we do get over that 675 level. And and if that happens, what we what we need to understand right now is that there are a lot of people that are currently hedged. And there are a lot of people that are currently short for like a big downside move, which I'm no doomsdayer. But by the way, to your point, I just saw something from Goldman Sachs. this that is short interest for the median S&P 500 stock remains closest to the highest level in recent years.

Jason: Right? And so here's why I'm saying we're we're primed for a violent move. And I mean violent in in a short order violence. So it's not going to be is not I think it's going to be a quick move. And so if you're trying to sell and then reby, first of all, it's going to be really fast. And I don't know that and and and everything is going to bottom all at once. And so like you're not going to be able to pick and choose what you want to buy. It's all going to happen at once, all of it. And it's going to be really hard.

Jason: So, uh, so like I said, callers are your friend in this situation. Uh, costless callers ideally. Uh, I'm out of time here, but my point is if we're over yesterday's high, all of these shorts are going to have to co cover and they're and they're going to start covering their shorts, meaning they're going to get long really over here and it's going to get more and more violent to the upside the higher that we go and a squeeze to the upside will ensue because we they are so so covered and exposed to the short side now because they want they kind of want it to go down and if it doesn't it's going going to be an upside squeeze and and if that's the case then boom boom 700s are back in play just like just like that and what and all this downside shenanigans is over now

Amit: What is what is your downside on the S&P? Like is there a level if we break it?

Jason: It's 620s. Yeah, it's around the 620s. It's around the 200 day simple moving average if [clears throat] and then there's like I said there's a lot of things that will happen in between now and then but we we're not we're not going we're not going to sell everything at the lows man like that's not the way to do it [laughter] right so like yesterday at the lows no and I posted I posted stuff so definitely out of time and I don't want to I don't want to short anybody who wants to get their tickers in but if you don't follow me on Twitter like I've been really trying to like push out as much as I can.

Amit: All right. So we'll do 2:30 on the clock. We'll try to get through as many tickers as possible. Let's start with BMR because they had earnings today and just curious on kind of how you're thinking of the the price. I know it's correlated to ETH, but in general, how are you thinking of it here?

Jason: I might have bought the stock today. Wow. I might be early. No, I don't think I'm really, but I Okay. So, so here was the last breakdown because so BMR is uh the the comments are earnings. Yeah, I know. It's true. Hilarious. Um is so you can't you can't really look left because there's not Did I not press play? Damn it. Sorry. Here's our timer. You can't really look left on this because there's not a lot below this. You're just kind of in no man's land, which [clears throat] we are below this. Somehow this has a 200E simple moving average now. But that's we're we're below the 200 day simple moving average. But just like when a stock is in all-time high territory, I can I can actually forecast when a stock is in all-time low territory with with simple extensions. like fib extensions. And essentially what I was looking at um was it this one? It might not have been that one. Yeah, it was this. Was it this guy? I don't remember which one it was. Oh, it I'm sorry. It was this breakdown here. So here to here reversal goodness. I got to I got to pick the right one here. Okay, so here was the breakdown from the week and here was the consolidation. This is the one I was looking at. All right. Literally right here. So, this is the post postweekly breakdown. The last one. Um, I got to pull up what I literally sent it in our group. So, maybe I should pull it up over here. Not Palunteering. Anyways, yeah, I think this is very close to it. Mine was What did I do? I did it from this prior oh yeah prior weekly range I had like it's possible that it continues down but it had basically hit my downside target um and to like 2650 basically roundabout for what is that your target 2650 or below 26 upside no your downside like like when did you buy I guess my question literally uh so I'll get into it right now so see this gap right here this is very small time frame Oh, shoot. I'm running out of time. So, there's a session gap here. And so, it's just a small kind of reversal day. If we're if we're over 26 26 bucks Monday, then this gap down for me, I have a rule set, like a trading rule set where like if I have a gap to the downside, what normally happens is that the stock should continue to the downside if it's going to actually continue on in that direction. And if it doesn't, what what that means is, okay, well, [clears throat] um, then I should I should actually expect that it's going to traverse up towards the gap. And so, there's a level here that if this is trading over 25 in change, 25 and a half, well, then I know it's at least going to hug in towards the gap. And so, for me right now, if it's going below 25 and a quarter, then I know, okay, it's going back down. and it's probably going back down to 22 and then I might even see 20. But that's my kind of like relative stop loss right now on BMR. So for this ad, if it's if it's below 25 and a quarter, look, I I'm very likely actually going to see 20. Um, so I can have a pretty tight stop loss in this instance. But this this line here, that was yesterday's low. And today it was actually closing the gap, starting to reverse it, and it actually closed above yesterday's low. So today I'm looking at BMR. Look, it gapped down. They bought the gap and it's actually closing above yesterday's low. This is what we call a failed continuation. Meaning it it it was supposed to be going down, but people started stepping in and buying this dip. I'm looking at the market across the board. Okay, cool. The whole market is getting bought up on the lows. This is actually a relative low. It's worth a shot. It's all it is. It's it's a it's a basic shot. Um, and if it doesn't work out, it's going to be a quick and quick and dirty. Okay, throw it throw it in the trash. But this is this is trading. It's a very tight risk to but with a very high high reward type entry on BMR here. So that's for me this is more of a trading entry. Um, I think all all downside targets for sure all downside targets here have been hit also. So it's the time for shorts to cover. So, you bought it around 26 basically. That's what you're saying. I bought it. Yeah, literally 26 in change. I bought it higher. That's what I was saying. I mean, that's where it was hovering for the majority of the day. It broke down a little bit under that, but made sense that that's where you felt like picking up some more. Yeah. Okay, cool. Yeah, I posted it, but about 26, right when it was reclaiming yesterday's low.

Amit: let's do this one. Palinger broke below 150 today.

Jason: I know. I bought some more. You bought some more. I did. I bought Paler. I almost took an option. I almost took a shortdated option upside on Palunteer cuz I'm like this is I'm like I I I really like this spot cuz I mean it's basically made the track. It's basic like it's Look how close it is, man. I agree. Like so close. So close. And and Okay. I I I really bought it. Um, and I really like this close. I just wanted to see a slightly larger upside. I think this is prime for a this is prime for a pretty big bounce next week, dude. I mean, pretty big bounce next week cuz this is [clears throat] this one has taken such a heavy beating. But preface by the way with everything that I've been saying about everything else. A big bounce. Is it a a bottom? I don't know. We have to see what happens after that. And um but yeah, you don't want to you don't you don't want to sell this like just I hope to god nobody's I I don't know, right? Maybe I eat my words later and it just dumps another $100. Who knows, right? But this is

Amit: I think for that for that to happen I think Nvidia's got to get collapse. Like I think they're tied together. I don't think pounder easily goes to 100 and Nvidia stays

Jason: like again they they are the AI trade together. That's why they're talked about together. So I I think it's a good buy today if we think Nvidia stabilizes as well. Well, so the logic was pretty simple, right? Last Tuesday we said, "Hey, look, there were two zones. Last Tuesday we talked about this or two two or three Tuesdays ago we talked about this 173 uh zone right which I said like 180s is probably fine I said this not a buy zone that that it's you want to see this hold but this is not a buy zone right and that the real support was in this 150 area I actually nibbled at 160s um and I made a post and I was like my token my token my token contribution to the paler support club So, it was a bigger buy. Um, but I is it like the buy again? Any if I'm buying anything right now, it's it's it's with more ammo later to come. But, um, but this general area right here, we can see it pretty clearly on the charts. I I like this area. Can it like go down? Look, Palanteer is one of those like it gets it gets wicked up so fast. So, if I want to be, let's do this. Let's call out 142. And it's just this general node. So, I can see 138s. I can see that on the charts. It's possible, right? But this if it gets over and really what I'm what I'm talking about is if it gets over 158 and maybe this little wick of 160 next week, we're going to revisit this 173 level that I talked about last Tuesday in extreme short order. And so and and at that point, I know that there's going to be a very quick trend like next week. And that would be that would be a pretty violent bounce. That's a that's a near 10% bounce for next week and it could probably extend into those SMAs at which point hey look I have a I have a decision to make and when things get a little overheated well it's possible that I actually see 190 from here. So that's that's the logic. But at that point, all right, of these buys probably I need to take a little profit on. I will say that because you have you have if you're trading uh you you'd have a 25% quick profit on something like that just on equity, not even options. All right. I like it. Can it go lower? Yes. But this is primed actually for a pretty big bounce. just a mean reversion kind of to to get back to these SMAs. Uh, and if it does, then cool. We're flattening out, but still not out of the weeds.

Amit: Okay. Let's do Nvidia right after that.

Jason: Have you seen uh a 3 and a half% reversal like what we saw on Thursday? I mean I think Goldman said the last time it happened was like 10 years ago at the magnitude that it happened. I mean it was pretty incredible to see on the NASDAQ. Well, yeah. On the entire market, but Nvidia kind of led it going up 500 billion then down 500 billion in two hours. Was it three and a half? I honestly I didn't even notice. Like I've seen reversals like this on a regular basis. Uh it didn't feel like that crazy to me. Um I was I was literally expecting something like this. Um like if I go back if you go back and if you go back to last Tuesday or no I'm sorry last this Tuesday and you click on the Nvidia time stamp. Can we do that? Is that possible? Not right now because we got a lot of tickers. But you can do that if do that and go back. Click on the Nvidia time stamp. And I'm like 99% positive I drew a line on Nvidia and it looks like this when I drew that line. I'm like I'm 99% positive that that was my line and it stopped exactly right here. I I'm actually I'm 100% positive because that is the zone. Um and and and when that happened in this moment, like I was live in in my group and I was like, "Okay, celebrate. It's cool." Um but the the thing is that that we don't know cuz that's after hours and after hours is is TBD. It's all about premarket in the following day. um it needed to go higher for me like to really solidify an upside. It's very possible that that next morning it actually did open. So it we didn't really know in the moment um because it could have continued on but when the market opened and you see this you you know pretty much immediately there's no extension and and that is what we call like the bearish retracement right here. But yeah, go back to the time stamp and and so here we're actually all that said, we haven't gone anywhere and and we're we're exactly where we are. Um this is not horrible, but even after the news kind of today, I think it's a bit of a tell, but we're holding the lows. So here's yesterday's low. I don't know that you need to use Nvidia as the example because it just had earnings. So I don't I don't actually think that Nvidia is going to tell what's going on in the market. 77 is was and actually remains pretty much the level on Nvidia. Um and that's exactly the point of control of this entire consolidation here and it remains the the the area of interest uh for this general consolidation. So I actually don't think anything has changed for Nvidia. Um the chart based on what just happened actually not that I don't think like nothing has actually changed on this chart quite frankly. It's it's exact same what it was like the other day.

Amit: actually, we should do we should do Bitcoin first, right? [clears throat] That makes sense. Yeah. I feel like I'm just Let's do BTC. What are you thinking about that?

Jason: [gasps] Dude, it almost was below 80 last night. Well, I mean, this is the level. This is the level. It's it I mean this is this is generally the level. The I mean the level is lower. So, um if you like it, you're you're in the area, right? So you've you've lost this this general traffic zone, which is this this general traffic zone. You're gone, right? So just like everything else, you basically just traverse to the next one, which is down here. You're probably going to wick into this. You could extend. The real one is actually in here, right? But let's say you bounce here. The thing with this, which is what's happening, is that you're going to get back up in here. What What do you think is going to happen when when you do get up here? That's really the tell. So, again, we're going to have moments of that that that wild euphoria. Just does it hold? We don't know, right? So, it's going to it's going to happen at some point, right? The question is, are you going to be caught up in the I'm I'm super ecstatic like we're going to the moon again or or what are we doing? Right? And I think that's that's that's trading. Is it investing? It's not investing. It's trading. Um and even if we get higher, this is why trading is very much if this then that, right? Or you know, it's one level to the next because it's it's also possible to get back here. And even if you get all the way back here, then well then you have to deal with the same the same question yet again. What are those people going to do? Right? And then and then you're same question yet again. What are those people going to do? [clears throat] And that's that's how this works. But this right here, those are your levels. If you lose them, then you go to the next one lower. But right here,

Amit: are you are you are you like at all interested in buying here like Bitcoin? Yeah. Like a DC simple DCA here or you think below 80 is more? [clears throat]

Jason: No. Well, no. Not Bitcoin. Bitcoin. Yeah. No. No. So, you would not buy here? No. You think it's a falling knife here? I just don't have any interest in in buying more Bitcoin. No, but in general, if you had to objectively, if someone wanted to buy the dip, would you think this is a price that's attractive? Also, no. Okay. Because 84 is down a lot from 126, right? If someone was thinking, hey, maybe it's time to finally buy. No, I'd tell them to wait to the 70s. I for sure. like like legit you want you want to do it. Um like okay 70s boom there it isoo. So [laughter] uh I would I I I legit would tell him to do that like

Amit: Okay. So before coin, let's do ETH as well. I assume you think ETH is in the same trend as BTC.

Jason: No. So I actually So ETH I like better. because because one, it hasn't made the move that um Bitcoin has and so it's it's different. It's a different it's a different situation. ETH is actually at my level general area. So ETH is at the equivalent level of Bitcoin at 70. Now that's the difference. So ETH is is essentially at the equivalent of Bitcoin at 70 right now. The issue I have right like with ETH is that everybody in their mother um when I said like 28 from the from the highs and then you know and I gave like very explicit numbering numbers dude everybody this the grind to those levels was slow and and and methodical that's that's not usually indicative of a bottom. A bottom is like fast and violent, right? Like a liquid liquidation event. It's not that's not a liquidation event. I know that that feels like a liquidation event. This is not a liquidation event. This is a liquidation event, [laughter] right? This right here, it doesn't have to happen. That's a liquidation event. Like this is a liquidation event. But the slow the slow and steady grind to the downside. [laughter] This is not a liquidation event. Although it feels like it feels bad. Like it feels like my my bank account is getting liquidated as an event. Um do do you think it was because of the Binance crypto glitch or No? Um, I think that I think that yesterday's continuation to the downside looked very much like an algorithmic like like continuation sell all day long in in the markets as a whole. Um, I don't know. I [clears throat] don't know if I would attribute that to this as a whole. I think that maybe the yen thing has to do with the crypto markets possibly. But all that said, 26 373 I don't that like I think that was my level. That's that golden that's literally right here. Um that's possibly it. It's possible that that's it, right? And if you like Ethereum, the truth is that anywhere from here down is probably a really good spot long term. Like it's probably a decent spot. Unlike like Bitco Bitcoin is probably a decent spot. A little bit lower, but this is probably a decent spot. Now, are there better spots? Yeah, there are. But that general area, this general area can come as as low can come as low as 21. So it's like this green box right here. And from here in the event of an actual liquidation event, that's 2159. So I did post that, right? Like if you really wanted a nasty entry, if if all of a sudden everybody got liquidated from buying at that at at my level, whatever it was, why do I have so many numbers here? What's going on? Anyways, from this 26 37 whatever 2637 like those liquidation events can come down to 259 and and and 2159 and that's in that general box overall is going to be probably a massive discount long term. But again, do do you need to be ultra specific? I don't think so. But if this if this fails, that's probably where it goes. But I don't know that it's going to fail. That's a guess. Total guess. So, uh, if you like it though, I I think this is your area.

Amit: Hoodie.

Jason: Hoodie. [clears throat] Uh it's right into this it's right into this area. So hoodie so first of all hoodie as much as I would love to say that oh it's it's done going down I have I have no idea. Uh it is not is not made the lows yet. Uh well it has not made the track to the bit if you think Bitcoin is going to 70. Unfortunately I think Hood's down with it. Mo most of my buys on Hood are actually set to like 70s just to be straight up. Uh and I but I have been absolutely nibbling. Um and uh right now I think that we can bounce a bit on hood hoodie. Um last Tuesday I said hey look we're we're up here. This I think is a bounce spot. I think that we bounced at least to like 115 maybe even that 120 area again. Um but at that point is very much TVD. Uh so this 113ish area here 115 is how this works. That that's your kind of trajectory. This is actually about about the halfway point from here to here of yesterday's range 11516. See how that works? Right there. Um got bought up pretty quickly. I actually bought this because I I I think this is if if the market turns like and all of a sudden um first of all I don't have to be super bullish on crypto to me in my mind for me to be bullish in in hoodie. You guys can you know think what you want but um Bitcoin doesn't have earnings. Hoodie does. Hoodie has a lot of lines of business. Bitcoin only has Bitcoin. Um, that said though, this is very correlated, extremely correlated, and I think it can bounce, but I think it can get in trouble around 115 for sure. And it's going to be the same thing as everything else. If it can get over 115, cool. I can see 123. This bad boy is not out of the weeds yet. If it can get get over 123, then boom, I can see 130s again. Not out of the weeds yet, right? If it gets like definitively below 100, well that 75ish level is happening. Um and and that that is what it is. Even if I get to 130s, that 175 kind of extension is not in play, right? Cuz what what what I have to deal with at that point in time is I have to deal with all of these buyers. Any upside here is going to be slop and chop, right? I have to deal with all these buyers that are going to decide whether or not they're going to sell on me. I know what I'm going to do or I know what I'm not going to do, but I need to see does this happen and does that happen and if so then what? Right? And so if that then what right? So that that takes me to 135 which would be if this if this is the low then I have to really really be concerned at 135. If I can get over 135, cool. I'm talking about 150s, but that's all I'm talking about. I can't be talking about anything else other than that. And only if we're over 150s then then for sure. I'm talking about higher and I'm talking about 180s now. I'm not talking about 175s, but not not until those things happens. That's what slop and chop means from a technical perspective. Um, but that's what this looks like for now. What has happened is that I have come right into that. If if this was the mountain range and this is the city center, I've just hit a high traffic area and it's going to be really difficult in the near term for Hood to actually get below this $90 kind of level. So, I'm okay with thinking that buyers are going to step in as they have in the past on the greatest company on earth. I don't know about you guys, but that's just me and I'm super biased, so don't listen to me. But that's that's my two cents.

Amit: All right, last two. Amazon.

Jason: I like So I bought Amazon a little bit more. [gasps] This is actually [clears throat] my my main buy today. So why' I have that? Oh, that's from prior. What the hell is that? That's from prior something. I guess I have that labeled wrong. That we'll just call it something else is a big deal. level. This goes like way across. So the lows today actually here were these relative lows 216 which we kind of talked about last or this Tuesday earlier this week. Um which is which is like we bought you bought the other day too, right? Yeah, you said that. So, I think you and I both bought the other day. And I'm not being super specific. I don't know if you're being super specific either. Like, I just know, hey, look, it's come down. I'm just going to just grab it somewhere. What? I don't even care. Right somewhere in this area. Um, and then if price gets in here, I'll probably buy it that day, too. Uh, and that'll probably be it for now, unless I see something like nasty. So, I think I'm I'm mostly done with this general area of nibbling. [clears throat] Um, and from here, like this is just look, I think this this move was steep. I think Amazon is of all of the Mag 7s, I still like where this spot is. Uh, I like this one the best for a bounce area here. I don't I I I don't actually think there was a lot of damage to this chart throughout this entire thing. So, of all of them, including Google and Apple, I actually like this one the best here based on a lot based on it's already made the the trajectory down. I think Google and Apple might actually be a little bit more at risk. They might be just the last generals to fall. This hasn't made that. And I have a pretty clean riskreward from even trading perspective. And I can probably get a little at least mean reversion here, which might even bring me back to the general areas, at least to the top of here, and then I'll have a better decision to make for now. So, I like this one a lot.

Amit: Okay, last one is Tessy.

Jason: Tessy, I think you just chill. It is at the spot. It's re It's revisited the spot. I think it needs more time. The problem with Tesla is that that 415 zone, which is like we've talked about this um 415 zone again, the biggest deal level ever is still acting as resistance and that's what we're seeing right now. So Tesla is stuck. That's what's that's what that's what's going on with Tesla. It's completely stuck. Um, which means it's actually going to be trendless right now. It's not lost it, but it's hugging this line. You don't want to see it lose this. So, this is the broader uptrend on Tesla. And if it does lose this, well, well, then the trajectory is down like a larger leg down to the 200, but not not before then. So, it's these local lows like this that are holding. If Tesla loses this, wherever this is, then this is happening. Until then, um it's sloppy, choppy in here until you can get back up and above. And so, that is the story of Tesla right now. trend is intact, but it's not it's it's it's got to reclaim its footing right now. This is the broader trend. And I think if anything, you need to be really patient with Tesla. If you're buying here, it's just okay. It's not great, right? It's it's it's literally just okay. If you if you'd like a better buy, wait for this to break down. That will probably be a better buy. Uh or you wait for it to reclaim its uptrend and you buy it higher. That's just me. That's a trader mentality. It's not an investor mentality. That's what the session's about. Um, [clears throat] I think it's very sloppy, choppy. Yeah, I think a it's because it's got a it's got a it's got a lot of work to do. It's you're going to you're going to think that it's going to go up and then all of a sudden it's going to go down the next day which actually makes this prime for like selling premium for for a little and probably prime for selling premium around that 415 420 area cuz so if you do do that I would actually say this might be a perfect time for you to do something like that on on Tesla cuz this between 4:15 and 430 area. Actually, that's [clears throat] going to be a trouble zone for for a while on Tesla.