All right. Hello everybody. Welcome back to another episode of the market close. We've got Netflix earnings on deck. This will be officially starting off big tech earnings. I am very excited for it. So, we are going to see what Netflix can put up. Netflix is up 40% year to date. Uh, but stock's been flat for the past three months. So, today is going to be one of those days where we see if Netflix can put up some numbers that can get the street excited. Maybe they finally finally give us a stock split, which would be very nice. Get this sucker down to $120 instead of $1,200. But, we're going to see what ends up happening on Netflix. Let me know if you own this stock and we'll do the pump or dump poll. Most of you guys said pump versus dump in the morning. Uh we're going to see what ends up happening with Netflix today.

On top of that, gold has its worst day since April 2013. Gold is now basically at the intraday lows. I think it got a little bit lower than what it's at right now, but essentially its first 5% down day. That is over one half trillion dollars of market cap. That has left gold. Silver down 7.5% on the day. So obviously the commodity trade has taken a bit of a hiccup. We are going to discuss if this is structural, if this is essentially central banks liquidating, if more and more people are getting too euphoric, so the trade's getting overcrowded, but whatever reason you want to give it, today is one of those days where commodities are taking a bit of a hit.

And then the sort of other big story that we're seeing today is that the Dow Jones is on track to potentially close over 47,000 for the first time, which would be quite crazy to see. Uh, sorry to switch the camera, guys. I thought my camera was charging for the past hour, but it wasn't. So, camera is dead. It should come back in about 20 minutes. The S&P 500 though, pretty green for the day. 672. 672 on the S&P 500, which is not too bad. Two bucks away from alltime highs.

At the same time, continuing with kind of the trend we've been talking about over the past couple of days. Uh, it's not the prettiest for some of the momentum names over the past week. As you can see, Oaklo, DWave, Big Bear AI, Regetti, INQ, SMR, Nanuclear, MP, US. I didn't even know these stocks were down this much over the past week, but to make this post on Twitter, I had to like look at their weak performances. And yeah, it's not pretty. I mean, ranging from 15 to 30% across the board in the actual market today, they also took a bigger hit. Oaklo right here down 14% on the day. Dwave down 7% on the day. OQ down 1%. Regetti was down I believe about 8.3% that loses 40. SMR, another nuclear name, that one was down 12%. Nanuclear that one's down today 8.3% even in AS which I think has a lot more potential than the other names that one is losing 80 down 5% this morning.

So what is the takeaway from this? I think the takeaway is that if the S&P is able to hold on to basically alltime highs I mean again 674 is the alltime high. We're at 672. If Nvidia is able to hold on to 180, if Tesla is able to hold on to 441, if Pound here is able to hold on to 180 and all these other names are not able to hold on to their momentum, then maybe that momentum is fading and maybe that momentum is rotating into other names. I mean, take a look at Mr. Amazon. Had one of the worst outages in the past five years yesterday. Half the internet shutdown. Stock hit 223. It's going to close above 220, up 2.23% on the day.

So you got gold down, you got silver down, you've got all the high momentum plays down, not to mention Iran, which I know a lot of people love that one getting hit today, down 7%, cipher down 10%, cleans down 8%, Wolf down 5%, Bit Farms down 9%. This thing was 670 or 660 last Wednesday back down to 450. Marathon down 4%. Ride down 6%. The only reason Galaxy is up is because they put up good earnings and they put up phenomenal earnings. They beat EPS by 200%. All these companies should be forced to put up Galaxy types of results to be able to get the premium and going into earnings uh into the earning cycle we're going to see what happens. But so far they haven't done that. The rare earth names the same thing. MP down 10, US down 15, TMQ down nine, critical metals down 16, LAC down about 1%.

So I think the real takeaway for this is the fact that the S&P is almost at all time highs. The fact that the Dow Jones might close above 40,000 or 47,000 for the first time ever in history. Yeah, it's at 46,9996. That's not bearish. That is not bearish by any sense of the imagination. That is very bullish. It's just those high momentum names are not able to hold on to their momentum. And you know, we're going to see if that momentum comes back, if the earnings can change the picture or if those names have unfortunately created millions of bag holders. But time will tell in terms of how that plays out. Nvidia right there 181 then the S&P 500 672.

By the way, if you bought that Google dip down to 244, you were rewarded. So, uh, OpenAI released their browser. We saw what it looks like. It's called Atlas. And apparently once they announced that it was called Atlas, everyone ended up shrugging. So, you know, everyone shrugged when they announced Atlas. But, nonetheless, it is called Atlas. And I mean, it looks kind of cool. It kind of looks like Perplexity to be honest, but uh, it's only available on Mac OS. Maybe that's also a reason why Google got a bit of a benefit because, uh, it's not going to have widescale distribution.

But, there's the video that is on screen and you can see what's going on there? And uh look, it looks like Google Chrome but with more AI features. It looks like perplexity with an AI assistant when you're asking different questions. So, you know, I mean, it it was not the most exciting. That's why Google got back to 252. Google lost a 100red billion in market cap when OpenAI put out the tweet that they're putting out a new browser. And uh you know, a lot of that money seems to have come back to Google because the market doesn't care too much.

So, dude, I don't think this is a bare case for Google. I mean, are we saying Google Chrome's not going to add a little chatbot on the side of whatever website you are? Like, it has got to be a joke to imagine that this is a massive barecase for Chrome or for any of these other browsers that already have a monopoly because they can add all this stuff anyway. So, I don't know. I'm not super inspired by this. It looks cool. I'm sure people will use it. I I just don't think it's going to be that differentiated from Chrome. And as a result, I think that's why Google got a bit of a benefit uh here. Thank you for all those who recognize the Atlas shrugged reference. Uh, I deeply deeply appreciate it. I need to need to make sure people people value some of my jokes, even though it's not even an original joke. I stole it from someone else. Shout out to Douggee. I stole it from Douggee.

All right, so that's what we got. Uh, in the context of Google. Now, Beyond Meat, I don't know how to explain this. Beyond Meat, quite frankly, is beyond me. I don't know what to say. 372. It's up 153%. At this point, I think it's just getting squeezed, and I don't think uh there's any rationale behind it. They did announce a Walmart partnership today. Let me know in the chat if you made any money on this one and if you uh if you took any profits, if you sold any calls, sold any puts, bought any puts on it. I don't know what's going on.

I mean, if you bought puts on all the other high momentum names that we talked about or even the leverage short inverse ETFs, you're having a great day. If you bought puts on Beyond Meat, it's not having a great day so far. Maybe this is the next play to go down and this is a good opportunity to buy puts on. But I also don't understand why it's up in the first place. 152% on the day as it continues to go green.

Again, same thing I've been saying for the past couple weeks with a lot of the high momentum names in the in the short term, it really feels annoying when you're in a stock like an Amazon or a Grab that's not doing anything and Oaklo is going to 190. But then you kind of remember when things come back down to reality, that's the reason you don't take some of those risks. So with Beyond Meat, you got to be very careful trading this. But if there was something legit, I would love to know. I just don't see anything legit outside of this Walmart partnership, which I don't know if that's enough to increase the market cap by about 150%. But that is green on the day. A couple of you guys saying I made some money on it. Yeah, I mean look, if you made some money, you traded it, not too bad. It is shorted more than 50%. So, it looks like that is the reason for the squeeze. It's just a question is on if on if there's actually going to be earnings to kind of back up the nature of the squeeze that's happening right now.

Nabius, Nabius getting hit. So, again, I did sell puts at $98. Uh maybe I end up getting assigned. Who knows? I've already told you guys I started doing a deep dive on Nebius. Uh I do want it below 100. If I end up getting at 98, I will happily be assigned on those shares. But uh this one also took a breather today. Now I don't think Nebis is like the other high momentum names outside of the fact that it ran up like crazy, but it ran up like crazy with a story that was backed by actual revenue and earnings, aka that $19 billion Microsoft deal that it got. A lot of those other companies that ran up, they didn't have that associated with it. But again, at 140, did it make sense to go from 60 to 140 in two months? Probably not. And it's taken a breather. So it's still up 250% year-to- date. Just like Hood back down to 130, up from 150, still up 230% year to date. I don't think anyone can complain about that, but uh those names are a lot more attractive than they were a couple weeks ago. And it's not that crazy to see that they're taking a little bit of a uh of a breather right here.

So, that is what you've got. Again, Beyond Meat is up on that 150% year-to- date. SoFi or or not year to date, but on the date. Beyond Me's actually down year to date with this 150% move for the year, which is kind of crazy. SoFi 2876 trying to get back up to 29. Google again at 250. Grab at 562. SMCI that's flat on the day. Apple that is up. Apple did hit all-time highs at one point at 265. ELF is green. PayPal's green. Salesforce is also green. PayPal, Salesforce, Adobe, Lululemon. And these are some of the names that you had a little bit of a rotation outside of the uh the momentum frothy names. And I don't think that's too crazy. As you can see right here, Service Now, Salesforce, Adobe, in it, all those names that have really been lagging over the past couple of weeks. Seems like people took their profits on the other names and they rotated which is very reasonable to see to see that happen.

Amit why didn't Galaxy pump? Galaxy did pump. It was up 12% at one point and now it's going to close up 7% on the day. This stock is still up a lot for the year as well. So I mean if you expected a 20% pump, yeah, you didn't get that. But 8% after earnings, I think anyone would be happy to see it get some of that momentum. The puts are for Friday. The puts are for Friday. They expire Friday. So, if it's below 98 on Friday, I will be assigned some of those shares.

Uh, let me pull up this clip right here. We got about four minutes until the market closes. Uh, let's take a look at the Netflix pump or dump. And what do we have? 62% of people saying it'll pump. I'm gonna go with pump because I think it's been plat past three months and I think any level of growth or guidance growth, we're not going to get subscribers, but anything in their advertising repertoire or what they've been able to show in regards to new forms of content going into the holiday season, that could be bullish.

>> We'll we'll add uh fun they fall back on the former which is why they believe that this move isn't over. I'm I'm in that camp too, Scott. I think that, you know, we're entering the sort of critical last 10 weeks of the year at a time when not only earnings are good, uh, but we have a Fed that's going to be, uh, in an easing cycle. Um, I think they're going to there's going to be some good news eventually on the shutdown. And then we know that there was already a bit of deleveraging that took place about 10 days ago because of that VIX spike and the headlines. And so there's going to be, I think, a setup for a chase into year end. So I think all of this means that the S&P can close at least at 7,000. I I actually think that's a low number um by the end of the year. >> You still do. So

>> all right. So you got Tom Lee continuing to be bullish and his argument also continue is continuing around this idea that earnings growth is not going away. By the way, it's not just Netflix. I'm just realizing we got a bunch of other companies. So, we have Netflix, we have Intuitive Surgical uh robotics company, we have Chub Limited, Buffett's in that one. We have um uh Texas Instruments, and we have Capital One. Uh so, this is the watch list right here. And we also have Capital One. So, we have five companies. Jason will be on in about 25 minutes. And guys, we're not going to do a full technical Tuesday today for two reasons. Number one, uh I have to I have to leave at six o'clock, so we're going to have to cut a little bit short. But number two, uh we just can't do a ton of TA before earnings because a lot of the TA is irrelevant going into earnings. So we're going to do a bunch of stocks. We're not going to do like 50 stocks like we usually do, but uh we'll try to get some setups discussed going into the earning cycle, and he will be on in about 30 minutes.

But those are the companies we've got. Netflix should be immediately after the bell. So let's see what we've got going on. Got about 30 seconds until this market closes again. Thank you everybody for being here. The majority of people say pump. The majority of people say pump. We should get Netflix results by 405 latest and then we're gonna see how this ends up playing out. A couple people say they own Chub ISRG. All right, so we got a bunch of earnings. We are officially back into tech earning season, folks. By the way, The Street wants 697 a share for Netflix. They want 11.5 billion in revenue. They want 697 a share. EPS 11.9 billion in revenue. Not sure why Tesla's getting a red candle at the close. There might be some news right there. We'll cover it as soon as we get into the close. But here we go. Tuesday, October 21st. Thank you everybody for being here. 4 p.m. The stock market is now closed.

All right, we are done for the day. S&P 500 at 671. The Dow Jones closed just below 47,000. Almost hit that 47,000 level, but 46,928. Not too bad for the Dow Jones and the S&P maintaining some of this momentum. Not sure what sent Tesla down immediately as soon as we got into the close. I'll try to see if there's any headline. Um, but Netflix is going to be the one that we look for. SoFi ended at 2874, AMD 238, Tesla 443, Nvidia 181, Pounder flat on the day at 18161, Robin Hood down about 3% at 131, Google at 2.36% down on the day, Grab was down about 1%. Amazon nice close above 222, 2.58%. Salesforce up 4%. Meta was relatively flat. PayPal was up 1.3. Apple hit new all-time highs. Bitcoin, by the way, we did get to 114, came back to 111, but it's nice to see Bitcoin gain 3 4% and gold lose four or five percent. Maybe a little bit of a rotation that's happening right there. Ethereum at 4,000 as well. Uh, as we get into this market close, BMR, did we get a 52 close? 51.89 on BMR.

All right, Netflix. Let's see what we've got. Oh, it's dumping. It's dumping. That's a red candle. That is a red candle. We are down 2.67%. 2.67%. I will get you guys the numbers in just one second. Let me pull this up. Um, let's see what we have on Netflix. All right, so those who said dump so far are correct based on what we're looking at here. Uh, don't have it yet. No one has the numbers. Let me see if their website has it. Usually Netflix is really good about posting it immediately. Uh, we are also not going to be watching the Netflix call. Let me just say that right now. We're not watching the Netflix call. If you guys want to watch it, they do it on their YouTube channel, but we are just going to be going through the earnings and then we'll keep going from there.

Okay, I think we have their letter to shareholders. Cool. We got it. I don't have the topline numbers, though. Let me see if I can get these topline numbers. Oh, here we go. All right. 3Q revenue 11.5 versus 11.52. They missed on revenue. Uh EPS. Is that true? 587 versus 694. Dude, that's a that's a bad miss. That's not a simple miss. Hold on. Netflix. Yeah, they missed by 16%. 587 versus 597. Revenue came in relatively in line. Wow, I didn't expect them to miss, bro. I did not expect them to miss. EPS is up 9% year-over-year. Revenue is up 17%. Why did they miss that bad? 7% down. Oh boy.

Oh, that's ugly. 1151. It's down 80 bucks. 1151. It's because of Elon. Is this because of Elon? Oh, this might be because of Elon. Maybe they spend too much on content. Maybe. Dude, why the Netflix is not a company that misses on earnings, guys. If they miss, it's like a one or two percent and maybe there's some accounting thing that they like it's not it's not supposed to miss by 17%. That is weird. But as you can see right there, the stock's getting hit. Maybe this ends up being an opportunity for people that come in. You got a little bit of a bounce on 1150 back to 1160, but still the immediate reaction is ugly.

Uh, let me go to some of the other companies and then we'll get into the numbers. So, Intuitive Surgical, they are green. Look at that. You got a nice green candle right there, 2%. Chubs is up a little bit. Texas Instruments is also down by about 2%. And Capital One, that's up just a little after hours. Netflix is the real one that's getting hit pretty bad. Wow. Did not expect that. Did not expect that one.

All right, here's their shareholder letter. Let's read through a little bit and see what they say. Revenue in Q3 grew 17% in line with our forecast. Operating margin of 28% was below our guidance of 31.5% due to an expense related to an ongoing dispute with Brazilian tax authorities that was not in our forecast. Look at Netflix blaming the Brazilians. Blaming the Brazilians. Engagement remains healthy. We hit our highest quarterly view share ever in the US and the UK, which has grown 15% and 22%. Then they talk about Canelo and Crawford Wednesday. Uh, Happy Gilmore. This K-pop Demon Hunters apparently was the biggest thing in Q3 for them. I don't even know what K-pop Demon Hunters is, but that became a big part of their story. 11.5 billion in revenue. Operating income 3.2 billion. Margin, look at that. Down 6% quarter over-arter. That's why the freaking uh net income got hit as bad. 2.5 versus 3.1 last quarter. Uh, and then diluted EPS 587 versus 690.

the major cancellations, but a lot of the cancellations also happened in October, right? Which is in Q4. So maybe that whole woke uh protest maybe that started near the end of September. If it did, then that could have potentially affected them, but maybe it was more so in October. Um, okay. Guidance for next quarter. What do we have? Do we have any guidance here? They don't give subscriber guidance. I don't know if they give actual regular guidance. Let's see if we can get some other coverage. on Netflix, but these are some of the core results that we have right now.

>> Uh, yeah, that's right. Revenues right in line with expectations at 11.51 billion, but earnings a big miss. The company reporting five $587 in in earnings in EPS. The estimate was for $6.97. The company explaining this saying that our operating margin of 28.2% 2% was versus the 31.7% uh street account estimate saying that was below the guidance of 31 a.5% due to an expense related to an ongoing dispute with Brazilian tax authorities that was not in our forecast. So explaining that lower than anticipated operating margin as a result of that Brazilian tax issue. Um, and then one just little hint here. The company does guide to Q4 revenues ahead of estimates and EPS a penny ahead of the street account estimate. I'll be back with more. Back over to you. >> All right, Julia Borston, thanks. Shares are down six.

>> Okay, so Netflix, we don't have any other future guidance for Q4 yet, but those operating margins got hit pretty bad. Netflix still down 5%. Texas Instruments, this one's getting hit as well. Capital One's okay. Intuitive Surgical, that one's getting a big boost. That one after hours is up 9% as you can see right there. So, looks like earnings are pretty good there. Let me get those numbers real quick. And there's some other stocks that are getting hit. ESTs, why is that down 5%. Did they dilute? They were already down 5% intraday. So, this is an 11% move on as uh there might be some dilution there. There might be something else. Mattel, why is Mattel down 20%. Bro, what is going on after hours here? Uh, it is down 14%, not 20%. What the hell is going on? What is going on?

Intuitive Surgical, they do have their earnings. That was way better than expected. Let me pull those up. But the rest is getting hit. So, Capital One, they beat by 36%. 595 versus 436. They beat on revenue by 2%. EPS is up 32% year-over-year. And revenue is up 53% year-over-year. So, Capital One not doing too bad. Intuitive Surge beat by 21% on EPS. Not bad. 240 versus 199. Uh revenue beat by 4%. Revenue is up 23%. EPS is up 30%. They're growing like a tech company even though they're not necessarily a tech company. More in robotics, but there is a lot of tech involved in that. And that one is putting up some good numbers. So ISRG up now 12%, Netflix still down five. Chubs is flat. Texas Instruments that's down. Mattel and ESTS. Those are getting hit. Um, I'll try to see what's going on with AS, but I don't see it right now.

Dude, ugly way to start off big tech earnings. That's not what you want to see. Not a miss by Netflix. Now, granted, I don't know if every big tech company is going to have to deal with Brazilian tax authorities, but still. ESTs announces repurchase of 50 million of convertible senior notes. There it is. That'll do it. That will do it. Now, granted, I don't know if I mean, look, the stock ran up to 100. I mean, it was at 36. I mean, like, it's probably was due for a breather. It's just you're getting it with some catalyst that historically in any stock when you try to do something like this, especially after hours, it tends to dump. And that's what you're getting on AS.

Now, here's the question, right? Where are the dip buyers for an AS? Where are the dip buyers for all these high momentum names that are now losing their momentum? A lot of times, the dip buyers leave because they're scared because they don't want to be stuck bag holding. And so, this is where it gets a little dicey on a lot of other names that you see.

Okay, so Netflix says, "As a reminder, the guidance we provide is our actual internal forecast at the time we report in Q425." Here it is. We expect revenue growth of 17% driven by growth in members pricing and ad revenue. We project an op what 23.9% operating margins. That's better year-over-year, but that's horrible quarter over quarter. That is a 5% decline in Q4. Now, again, it's better than Q4 2024, which is what the street cares about. But my goodness, that is that's not exciting earnings for a Netflix going into Q4. Let me say it's not exciting guidance going into a Q4. Not exciting guidance at all. Um, and that is lower a little bit more based on this Brazilian FX stuff that they're also talking about.

All right, that's what you got on Netflix. Admit they can't raise their subscriptions anymore on the consumer. That's why it's bad. Look, that's a good point. I mean, this is a consumer-driven company, obviously. Uh, stock is still up 40% year to date. Now, it's up, you know, 35% with a 5% drop. But if people are not willing to pay as much, maybe that's also why the rumors came out this morning about Netflix potentially thinking of buying out Warner Brothers because they need more content to get people to subscribe and Warner Brothers up 13% on that news that Netflix or Comcast might be thinking of buying them. S&P down a little bit on this Netflix earnings. Beyond Meat in the after hours is pushing $4 while Netflix is dropping 30 billion in market cap. Quite incredible to see. And this is what you're seeing in terms of the broader cycle for some of these big tech earnings that are starting out. Looks like ISRG was the best one. Intuitive surgical 520 after hours. Netflix the one taking a bit of a hit.

>> Talk with you. I think it's it's some of each. I mean, I think we see it with with smaller investors certainly. Um, but I, you know, I I don't like to classify active traders as strictly retail. We're seeing them of all stripes from large to small. Uh, but they are just sort of jumping in. I I think you know the the thing that we see at the opening bell is just is the way they're essentially reacting to the order flow that does come in from smaller traders who are putting in uh their orders overnight for the open. But u you know another bell that I think a lot of traders are reacting to is the alarm clock because we often see futures uh taking a bit of a lift higher somewhere between 6 and 7 a.m. Eastern time. And >> okay, they're talking about trading versus Netflix. Uh, but I think they're talking about that topic with the CBOE potentially increasing the uh the options trading window by 2 hours in the morning and 15 minutes in the afternoon. Um, and I guess that'll allow more people to trade things like Netflix early on in the day. But goodness, still getting hit right here.

Here are the Texas Instruments as well. Where is HMS by the way? We didn't look at that. Hims after hours. Oh boy, it lost 50. Hims lost 50. Closed right below 50. 4915. This is another name had a lot of momentum and that one's losing a bit of it as well.

>> We are seeing a mixed report EPS of a$148. So that's a penny light of what the street anticipated. Revenues was a beat $4.74 billion. Uh that was 7% sequential growth. The company and their press release saying they're seeing growth across all markets. So that would include auto. But you're seeing shares down almost 5%. Why guidance? Q4 EPS guidance uh came in light huge range $1.113 to a$149 so really you know hedging all bets over there big range over there and that's less than expected with Q4 revenue guidance also a range that was mostly below what analysts were expecting and so that's adding to the the share drop guys

>> all right Texas Instruments down Netflix down ISRG up folks we got some breaking news on DraftKings they just acquired a prediction markets company DraftKings up 4% % these guys acquired um Railbird. I have never heard of Railbird before, but that is a predictions platform competing with KHI and Poly Market. I don't know, bro. So, I know the stock's up here, but the fact that DraftKings has to acquire a predictions market company to compete, I mean, it's going to show how or it is at least emblematic of how much of the market share in the betting ecosystem is leaving a traditional company like DraftKings and is going to a Robin Hood, a Kali or a Poly Market. I mean, like this acquisition is not the most bullish to me. It is good for the company because they have to compete, but it also it's them admitting, hey, we need some help because we're losing a lot of the people that bet to other platforms. DraftKings, though, is up 5% after hours.

S&P 500 right there 670.79 that is still down a bit after hours uh based on this Netflix number Netflix right here 1179 all right so some people are stepping in around that 1150 level gold still down 5% after hours continuing to get hit and Netflix is the one taking hit why is Tesla down 1% I don't see a reason for that as getting demolished on this offering unfortunately guys as wow 12% down after it was already down 5% during the day. So there you go. AS 7240 and then HIMS below 50. AMD down one, Grab down one, Reddit up one, and then Amazon up 2.4.

Now look, I don't think the Netflix thing is the most bearish. It's just not fun to see big tech earnings start off with a company missing on EPS by 17%. But it also might be specific to Netflix instead.

Chubs looked like they put up some decent results. So outside of Netflix and Texas Instruments, the rest of these companies were strong. Chub right here up 22% on EPS 749 versus 615. And they beat by 15% 14.8 versus 12.9. They beat by a billion on revenue. Beat by almost a dollar 20 on EPS. So that's not a bad beat. This is for an insurance company. It's not a super volatile stock. Birkshire is heavy in this. Chubs right there up 2% after hours. No stock split news.

Here's the coverage on Mattel and what's going on with that. Oh, Mattel had earnings. Okay, so Mattel had earnings. That's why that stock was getting hit.

>> uh, they kind of mentioned it. Not quite. Let's get through the numbers, John. So, the stock uh, was down, you can see 9%. It was down as much as 22% on these Q3 results, which are disappointing. EPS 89 cents adjusted, lower than the$1.7 cents analysts were looking for. Revenues 1.74 billion, also lower uh, than the 1.83 billion analysts were looking for. So, miss on the top and bottom line. Uh there it does see its fullear revenues in a range of between 1 to 3% uh versus 1.2% estimates. Also sees fullear adjusted EPS in a range of $154 to $166 uh versus 161 estimated. Uh also its adjusted thirdarter gross margin was at 50.2% uh lower than the 53.1% it was a year ago. Uh a quote from the CEO here. It says, "While our US business was challenged in the third quarter by industry-wide shifts in retailer ordering patterns, the fundamentals of our business are strong with growth in consumer demand for our products across every region since the beginning of the fourth quarter. Orders from retailers in the US have accelerated significantly and our POS is growing. Looking into the balance of the year, we expect a good holiday season for Mattel. Strong topline growth in the fourth quarter. We are reiterating our full year 2025 guidance and as you mentioned advancing our strategy to grow our IP driven toy business and expand our entertainment offering which gets at the K-pop demon hunters uh deal that Netflix has with >> Mattel still down based on those numbers. I mean the fact that they're reiterating their guidance at least is not the worst in the world. That one getting a bit of recovery but it was getting hit before uh when the results just came out.

Netflix down 5%, Beyond Meat After Hours up another 20% after being up 170% on the day. Pretty incredible.

Look, let me be clear. The Netflix earnings is not bearish. It is short-term just not up to the street expectations. As Mark Mahaney said, Netflix has massive opportunities, massive growth catalysts, massive different ways they can acquire and get into sports and all that stuff. So, if you're a long-term shareholder of Netflix, so you look at this quarter and like, "All right, whatever." down 5%, who cares? Uh, but if you were trading this quarter or if you thought, hey, you know, I think Netflix is going to definitively beat, it absolutely came below expectations for something that, you know, a lot of people probably didn't anticipate. This is why the stock market is so ruthless. I mean, there there's probably not a ton of people that knew that they were having issues with Brazilian tax authorities that led to a 7% decline in in operating margins, leading them to miss EPS by 20%. Like, you just don't know some of this stuff. And as a result, Netflix taking that hit after hours, but long-term shouldn't be the worst thing in the world for them.

>> would have done I don't know $7.30 something like that. So you would have had your kind of typical beat. Having said all that I think the street would have looking for a little bit more revenue upside. Now this is a subscription business a very large subscription business. It's hard for any one kind of spurt in consumer growth or active customer growth reduction in retention to really move the needles much in any one quarter. But still in what is the really the strongest content slate the company's probably ever had in the back half this year. you would expect just a little bit more kind of revenue flow through. It may well be that that happens going into next year and which I think is actually what's going to happen. But but that I think that's the real context behind this which is everybody knew they had a really strong content slate. Let's show a little bit of revenue up revenue upside and I think the stocks already starting to come back uh uh up because people realize this is all one timeish that the Brazilian charge and they actually would have beat uh earnings handly if you'd adjusted for that.

>> At the same time, this is a period that we're moving into where Netflix is not reporting subscriber growth. Is there more volatility in the stock and perhaps more exposure to bad news, even if it's a one-off, because of that lack of signal that investors might be used to? >> Okay. Okay. Well, one, I wasn't planning I wasn't intending to accept seven reference, but thank you. It's >> and then uh and then secondly, um uh I actually think it's probably less volatile not disclosing subs. I just think it is. And I just, you know, like a massive subscription business that beats its subs or misses its subs by, you know, u you know, a couple hundred thousand, like it's less than a well under a percent and the VOVA stock would really aggressively react to that number. So, I think it actually reduces volatility to no longer disclose subs. I think they should disclose subs though. Don't be, you know, I'm going to be clear about that. But but I don't think it's I I think reducing it probably does to some level reduce volatility.

>> Now, what we're going to need to hear, John, on this call is let's talk about Warner. I I don't think I'd be surprised if Netflix really made a push for this, but let's let's talk about I'm sure they won't talk about directly, but let's let's talk about it. And then let's talk about live events and let's talk about advertising and engagement. Three areas we want to focus on this call. >> Yeah, you took the words right out of my mouth, Mark, and that is M&A. Is Netflix in the market as a buyer potentially? whether it is Warner Brothers Discovery or something else. >> I don't think so. But I think they're in the market as a bidder. Um, you know, the the the reports about them bidding on UEIFA, the European League Soccer football uh rights, like I think that's the next leg of growth. I think there's two major new legs of growth for for uh for Netflix. One is ramping up that ad revenue and when they had that ABNB uh deal uh you know in recorder like you get one of the top 20 global brand advertisers on Netflix, more are coming. The second one is getting more live events and sports content on on the site. Look at Netflix is fin you know fantastically popular in North America and in other markets 70% of the population whatever but you layer in a lot of popular live sports that'll go to 80 85%. I think it's a real legitimate leg of growth and I think every year they get more and more cash they get more and more firepower to go and and economically bid for those sports rights. So I I think investors want to see some of those deals come through.

What do you think, and maybe this is over the medium to longer term, what do you think happens to content spend at Netflix and others, especially given the comments they made about generative AI and this idea of empowering creators? >> Well, I think content spend at Netflix, I think they've got a really wellworn formula that's worked for them. Keep increasing it every year, but just increase it by less than revenue grows. And, you know, going to up it by a billion a year. I think in 5 years, we'll be talking about the 25 billion a year that uh that Netflix spends on content. I think that's the right strategy and uh and it allow also just gives you more cover with which to buy um you know different types of uh rights uh and that is you know live sports live live events and then on AI look I'm in a camp I don't think AI is disruptive to Netflix I think it's actually a huge win and I just throw simple economics by people which is because I've had this debate with a lot of investors or discussion with a lot of investors if you get more content created by AI you get more AI content creators it just you're increasing the supply of people who are trying to monetize great content. How do you monetize great content? You sell it to the platform, the network that's writing the biggest checks, and that's Netflix. So, I actually think it's you diversify your supply base, basic economics. It's better for the the network in the middle, the the video entertainment network in the middle, and that's that's Netflix. I think it's a beneficial trend for them.

S&P 500 recovering a little bit after hours 671, Beyond Meat 470. That one not slowing down. That one not slowing down. Yeah, dude. The Beyond Meat story is so funny for me because I' I've told you guys this story before, but some of you guys remember it right here. I I was I was on a a date with a girl and she was like, I want to invest in uh ethical companies. And I told her Tesla and she was like, "No, Elon Musk is a fascist." And I was like, "Okay, what is what is your interpretation of ethical companies?" And she was like, "Well, Beyond Meat." I was like, "All right, good luck." Well, Beyond Meat, I mean, I don't know what her average is if she ever made the investment, but you know, definitely Tesla's not up 220% after hours, but Beyond Meat is

All right, let me give you guys a couple of headlines and then we will get into technical Tuesday and we'll we'll keep going from there. First of all, remember when Broadcom said we have a mystery10 billion comfort uh 10 mill$10 billion company? Uh Mazuo thinks it is anthropic. Misuho thinks it is anthropic. So Mizuo, a lot of people thought it was OpenAI. OpenAI ended up send basically signing like a hundred billion dollar deal with with Broadcom. Instead, Mizuo came out today and said, "Hey, it's probably Enthropic." Now, Enthropic was also revealed potentially to be paying $2.6 billion to AWS over the past nine months along with tripling their revenue forecast for 2026. So obviously Broadcom has the money to afford it. They are not profitable, but the fact that they are getting a bed with Broadcom to make a custom ASIC is quite incredible to see how that's playing out.

Another headline that I thought was really important today, Black Rockck ETFs have bought over three billion worth of bonds backing Meta's massive 27 billion data center project in Louisiana. This was the data center project that um Zucks was bragging about with Trump in the White House when when Trump was saying, "How much are you spending?" And Zux was like throwing out all these numbers. Apparently 80% of this is owned by Blue Owl. 20% is by Meta. And a lot of these bonds have been bought up by the Black Rockck ETFs. Black Rockck, Larry Frink has talked about the $4.5 trillion opportunity over the next decade to attack data centers. So, it makes sense that Larry Frink is going after a lot of the different corporate bonds that are building out all these data centers, but Meta is one of those companies that is getting a bit of that momentum as well. And you're seeing that here today.

Uh, two more stats. Of the 60 S&P 500 companies that have reported so far, nearly 85% of them have beaten estimates. Nearly 85% of them have beaten estimates. So unfortunately Netflix is going to take that percentage down because they did not beat estimates. But of the 60 that have reported so far, I mean 85% beating estimates is very similar to the growth rate of uh percentage beats that you had in Q2. So if that continues and Netflix is in isolation not the best company that has done well, then you should hopefully see some more momentum.

And then final stat for everybody, China's rare earth exports dropped 31% month overmonth, the lowest since February. Now why does this matter? Well, Trump was talking about this two weeks ago that China is sending out all these letters to different countries creating all these export controls making it harder for them to import rare earth metals and minerals. And maybe he was accurate about that because for it to decline 31% month over month in September likely means that China is not exporting as much as they were before. Now the exports are up 13% year-over-year, but in September, uh this is where you've seen an issue. I would think the rare earth stocks would potentially rally when news like this comes out but I think the rare earth stocks have rallied so much that now you know they are taking a breather. I mean MP is still up 350% year to date.

And again the most important thing to understand about what's been happening in these momentum plays is all of them almost all of them are up two to 3x literally even after this 30% decline that they've taken over the past couple of weeks. Like Iren is still up 450% even though Iran is down 25% over the past week. So these names theoretically could go down another 20 30% and still be up double for the year. And you know long-term shareholders can't complain. You got to double in a year. The S&P is barely up 15%. I mean like you've won when it comes to beating the S&P. But the people that are going to be complaining obviously are the people that bought when it was up 500% year to date. And we have to keep an eye on seeing if any of these names can regain some of the momentum that they lost. But nonetheless, until they put up the earnings, we're not gonna see if that momentum can come back. A lot of the earnings, I think, will help fix it. Intuitive Surgical, they put up the earnings, and that's why they're going green. 24% on the day for ISRG after a pretty incredible earnings, and that's why that stock continues to maintain its momentum as well.

All right, that is what we got. We are going to move on to technical Tuesday. This one's going to be a little bit more of a condensed version because I have to be out at 6 PM, but also we can't do every single stock because we have a lot of stocks that have earnings. So, we're still going to try to get through some of the main ones coming up over the next couple weeks. Um, but that's pretty much what we got for those that are going to leave right now. Tesla tomorrow, it's going to be a big earnings. I'll be live. I'll have some guests with me on the market close. That is going to be the official official start of at least Mac 7 earnings. Netflix quite frankly didn't give us the best numbers, but hopefully Tesla can give us something better and then we can start off these earnings.

Amit: All right, having said that, thank you everybody for being here. It is time for technical Tuesday which means let's roll the intro. [Music] >> What's up? >> What's up, man? Happy Tuesday. >> Soy milk Steve. Huh? >> It's an upgraded version with a side of bubble tea. >> You know, >> I've got to I've definitely got to let him know you are soy. What is he then? If you're soy milk, is he whole milk? >> Well, no. I'm just more purified. Less of the extra stuff, you know, plant-based version. >> Oh, you're the Beyond Meat milk. That's That's what you are. There you go. >> We're gonna roll with that. >> What a Tuesday, bro. What a Tuesday. >> We'll see. We shall see. It's a wild It's a wild day for sure, but you know, very close to the highs. Like to see it push a little bit more. It's a little uh you know, coming into earnings, it gets a raw. Oh god. >> Raw milk steep. There you go. There you go. >> Yeah. >> All right. So, let's get into it again.

>> But there it is. Um but anyways, yeah, I I guess coming into earning season it tends to get a little choppy, a little rocky. Anyways, so um yeah, you mentioned uh you not being able to trade a lot of stuff, can I pre is it okay if I preface before we get into any charts? >> Go ahead. as we look as we look at certain tickers and things like that, technicals are great and you know as a technician I I'll be the first one to tell you that fundamentals are greater than technicals. So they will supersede your chart. Same with sentiment. So like that's you know if we have things like a a Trump tweet or some breaking news it might throw off some TA for a little bit because people get a little emotion emotional from a sentiment perspective and from a fundamental perspective TA is just going to it's just going to tell you what the story is today but fundamentals will change the story the prevailing story uh overall so um if as we look at things it we can look at them up to an earnings report, but the second these earnings reports hit, you kind of have to slightly reset and then let the charts digest and then and then technicals will come back in. >> Yeah, 100%. 100%. So, a lot of the uh TT that we're going to be doing today, guys, technical analysis, uh yeah, you got to take with a grain of salt because whatever analysis you do on Netflix, at the end of the day, when they report a Brazilian authority charge, you know, it's stuff you just can't predict. >> Brazilian authorities, >> tax authorities, whatever. >> I mean, >> it's a good little legal battle they're in.

>> All right, so let's get started. And uh I think let's start off with, you know what, let's just start off with Tesla because we got Tesla earnings tomorrow. We'll see how those numbers affect the charts, >> but we'll get through some of the bigger names and then we'll keep going from there. >> So Tesla, of course, this is one I don't have the uh the old the old charts on. Shoot. So, I got the timer first of all. Um, we're through the bare zone and I'm going to try and do I got two mice. All right, that should be better. Ready? So, I we got the timer, too. So, I'm going to do five minutes and we're going to start now. So, this is Tesla. I for me the there's a lot of lines on here, so apologies there. I don't have to give you the whole backstory as to where we are on it. Um, but from the 20-day, so we are we are very close to the prior highs which are going to be right about here 450 451. And this little area is where seller some some liquidity some sellers might be a little trapped from this consolidation in here. I would say it's a little I mean it's it's okay but it's a little shaky. So we're still in consolidation. We're not out of this box. I think 450 is the top uh for now of this box and and then with earnings coming in. I don't expect it to do anything other than that. So we're essentially in this box between 450 and 415 or 416 which was this major level here. And that was the last that was the last kind of pivot that we talked about on uh on this show. 415 being like a major support area that we kind of wanted to hold. So that said, as we approach earnings, I don't think we're going to break this uh unless it's going to be break below 415 unless it's going to be um an earnings kind of like fundamental change, which it's possible. And if if that does happen, then the biggest concern is this kind of low volume pocket that we outlined before and we've been toying with this area here.

>> in general, is the chart screaming a little bit more bearish or bullish going into tomorrow? I know you don't have the results obviously, but >> you have to buy If you have to buy puts or buy calls, what would you do for tomorrow? >> I would be long the stock and I would buy some protective puts somewhere around um Tesla doesn't tend to move a whole lot on earnings just because they because they report um monthly delivery numbers. So, it's like it's like Costco. Costco doesn't report a whole lot uh doesn't move a whole lot on earnings either because they they give a lot of updates. of frequently. Um I would be looking near-term probably in this 390 area for some kind of a pullback and that's going to be right in here to retest this zone. And and honestly that would be ideal for Tesla the chart to have some kind of sideways action and get stuck still in here. So that would be right around 390 at the low end. If we don't if we just go to the upside, you know, I do have this 600 something still, which is up here. Uh, but just this more recent consolidation. What I'll do is reset this and just get this is this is still in the 520s to the upside. So, either I'm looking at 380s or 320s from the chart perspective. I'm not sure how much Tesla typically moves on earnings.

>> well, so looks like they have about a $30 implied move one way or the other already. Just looking at the options chain, which is $30 is about 408 415 pretty much right at that 415 level to the downside. It's pretty small for Tesla. >> The sense I'm getting from you is you don't uh you don't you don't think there's some explosive move coming that could send the stock to all time highs tomorrow. >> There's I do not the the chart is not telling me that there's going to be an explosive move tomorrow. It's possible. But when I when you define explosive, I'm like, okay, well, explosive is the current trajectory because it's not a short right now. The current trajectory is just to like 480s, but that's with no >> alltime high is at 488. So, >> right 48 and and the like I said, the current trajectory is into this 520 area, which for Tesla, it's a it's a it's a good percentage. Um I guess it's just how do you trade that? I'm already you got to understand I'm already in this trade from down here actually sorry from like from down here 300s recently. >> Um so I'm I'm I'm just kind of like cruising along personally and if you're looking for new money long I this is not a good riskreward spot which is the moral of the story right now. It's very high. It is tight. It looks bullish, but I'm not trying to take you're at you're also at resistance. So, um taking an upside bet at resistance is you usually want to go long at support, which would be 415 or lower.

>> Okay, that's fair. Uh Nebius, really curious your thoughts on this one. This one's pulled back from 140 to 100. Uh I don't know how much you know about the fundamentals of this, but does this look attractive at all to you here? It it definitely looks interesting to me for sure. Um I think from from the >> we got to set the timer >> latest deal from the latest deal that was at 61. This is about 50% from here to here which is what this is and it's also like right at at a prior top. So, so that said on Nebius, the parabolic trend, when I say parabolic, the the channel that it was in is gone. So, that's this right here. That channel is just kind of like that broke at 126, needed to hold and stay in that upside channel. That's broken. And so, when that breaks, you kind of have to say, all right, well, we're going to have a pullback. Where do we pull back to? It's about 120, possibly 93. If I'm measuring from here, from here all the way to there, if that's the first move, this area is going to be just about the 50-day simple moving average, which is about 91. I don't want to see it any lower than that. So, like 90. If it loses this $90 level, that's not going to be good. Um because then you're you're actually gonna you're actually gonna fill in that whole thing all the way to 75 like high probability. Very high probability.

>> if it goes to 75 that would be erasing a majority of the runup after Microsoft. Exactly. If not all of it. >> Yeah. That'd be ugly. That would be ugly for sure. >> Yeah. Even if I go, let's see if I went from this entire move when Nebius was like pre whatever. Yeah, 75 would be a lot of confluence, but that would be really that's like 25% down from here. >> I mean, yeah. So at 90, if if I'm if I see Nebius trading below 90, like I don't want to buy it at 90, I don't think that's a good I don't think that's a good value. It's either like or sorry below 90 it's it's it's going to 75s give or take as close to 75 as you can. Um, >> and and that's because the the whole trend is broken at that point. And then you're having a full retracement of this of this thing, which again, if you lose 75, the probability of getting to a a 60 number is is just as high, which is why I don't really want to mess with it below 90 because it it depends on your time frame, I guess, how long you plan on holding this.

>> Yeah. Yeah. And I I personally think >> value trading >> this would be a more attractive buy the dip because unlike some of the other momentum names they actually have revenue. So >> no I I I I actually agree like I actually bought the dip here. Um and I I think it could go a little bit lower because I already owned a little bit so I just averaged up before. It's not going to be like a hood position but this is that 91 area right here where they last broke out of. So, it's this it's basically this box that we're getting very close to testing essentially. We tested this morning. >> Yeah. >> And so that's that's what I'm saying. Like I'll buy the dip here literally here is close to 100, but the probability of if but if we don't get a bounce like real soon, I know that it's probably coming lower.

Okay. Uh, Oaklo, what are you thinking on this one? That took a 10% >> Oaklo. I mean, a lot of the steam just came out. Um, so you have this kind of like parabolic high, if you will. I say parabolic. Parabolic. All that means is just like really intense when I'm talking about the charts right now. Um, let me go reset. And it's it's similar in terms of like okay well you have your your channel that it had been in and yesterday it was losing this channel. So below 160 and when I looked at this I'm going to drop down to a smaller time frame. I'm on a 4 hour chart right now but I'll just drop down a little bit smaller. Um this is today but this is yesterday. So, if I'm just going to highlight yesterday's trading session, when you make the highs early and then you close towards the lows, which when I looked at it, this last where it closed below 164 before or above 164, that was kind of like the center line and where some people had stepped in previously and really kind of tried to make some kind of a stance. So 164 was actually a pretty big near-term pivot at that point. I was like, "All right, this is coming down to probably break this channel and at least test the 20-day." Um, but I was watching it today cuz I was again watching this today. I didn't see any buyers show up on Oaklo today like at all. And just it just kept getting uglier and uglier. So, I think there's some fat fatigue fatigue here. Um, and not to get crazy. So, this 145 would have been the last kind of if you were going to be bullish, you would have wanted to see Oaklo bounce at that 145 and hold. And this morning, as it was doing that, or as it was attempting to,

Do you think this was momentum drawd down? Like what how do you explain the velocity of the move? Like people just gave up on the on the trade today. >> It's pretty like this channel is pretty simple. This green and red, it's pretty simple to draw and I think you'll see a lot of people it it I mean it's it's actually mostly automated. So the point is that when you have a stock that's that's doing this, maybe we could look at hood too cuz it's kind of towards the bottom of the channel. Um, you know, and it's and it's pretty straightforward in terms of like here's the trend that Oklahoma needed to hold and it was broken this morning. All right. Well, it can pull back a little bit, but then you'd want to see it pop right here. At this point, anybody that was looking for that from a technical perspective, um, kind of has to throw in the towel because, you know, it's you would know that it's going to go lower. And that throwing in the towel, so to speak, is just people hitting their stop loss. Any any ear any late longs uh essentially exiting stage left. Um, and we're at we're at another little point here, say like 137. I just don't think it's a very strong one. And then sentiment. So, we talked about sentiment being a big thing. I just the sentiment on like broadcast television I just think has turned on Oaklow near-term at least. You know, a lot a lot of chatter. Oh, it's it's uh you know, no revenue. They have earnings coming. What are they going to say? It's up so much to that point to your point. Um, >> yeah. Yeah, >> I think it's a lot of that kind of scared money.

>> So, so let me let me ask you this. When technicals, as Benny says right here, get bad on a stock that already doesn't have fundamentals, in your experience, does that get really ugly or what kind of plays out? >> It it gets really ugly like really ugly because you just you just it becomes a momentum stock. Um, so you just lose the momentum. What I would say here now is that if you like it, you know, you can like it. It's fine. There's nothing wrong with liking it. But um but it's a spot to and I and I I also wouldn't say sell calls on a Oaklo necessarily because if this starts to go down um the volatility is just going to increase. So it'd be better to be I just ran out of time. It would be better to actually be long puts on a Oaklo. Uh because also, you know, we don't know that maybe something happens and there's a headline that changes sentiment here and just goes straight back to the highs because this is still I mean this is a pretty big move to the downside what is this in the last I mean it was down like 30%. So this is 30% down and you are technically testing um a medium-term support. So, it's possible that um some people step in and try to pick at this tomorrow now that it's had a big move, but I would be very cautious back to that 160 level cuz at that 160 level, uh the bears are going to be waiting. Like, they're definitely going to be waiting anywhere up in here.

>> Okay. Um, SoFi, what are you thinking about this going into earnings? Also, real quick before you start on SoFi, just like 30 seconds. Your thoughts on Beyond Meat? What? Like after hours? You think it's just people yoloing? >> Uh, dude, I think it's Well, it's like uh Wolf, right? Weren't they uh It's short covering, that's all. >> Okay. So, you think it's a squeeze? Definitely. >> Oh, no. Definitely. I mean, yeah. Yeah, it's for sure a squeeze to me. Um, I can see this. Oh, you're you're coming in. So, you don't know what they're going to report, but this is a This squeezes a lot at 418. Let me go after hours. Oh, we're there. >> Was at 470 10 minutes ago. >> Yeah, sorry. So, really what you do is you just kind of like I turned my after hours on just now. you look at this last relative high and see where we're going to be. Um, what I just did, I guess we're doing beyond me right now. Um, what I just did was >> Okay, it's fine. Was I just grabbed this kind of like this looks like an after hours wick. So, and I'm going to zoom in one more time to kind of refine this so I can actually get this 486. Did it get to 486? No, not after hours. >> Okay. So, there's a little trap liquidity up to 486 and then um so from this perspective, a squeeze perspective if you get and the top of that is 524. Wild. I wasn't even looking that but that looks to like to the penny 480 which is so you have just uh I wasn't even looking. That's crazy. Um, so it looks like he just filled a liquidity pocket, low volume pocket, like some trapped liquidity up here, meaning like trapped buyers, anybody that bought at the absolute highs. And um, you're going to find out real quick if they if they like it still or not. Net net over five and a quarter, it's going probably significantly higher. Well, significantly would be in the sixes, right? Which would be a big move.

>> All right. So, what are we thinking? It got close to 29. Do you see a run up potentially to 30 if it can have a good earnings? I would >> so each stock as we go to this as we go through this we you'll have uh pre what we call pre-earnings runups and uh SoFi in particular tends to have some pretty aggressive pre-earnings runups. >> Yeah. Meaning what that what that means is it's going to get there before earnings and by the time earnings actually happens well then it's a show me story. So this is October 28th. That's like a week. >> That is literally in seven days. Yep. >> Did you take this today? So this is our chart. This was like 2850. >> I was looking for 2650 but it ran away yesterday from me. >> Oh yeah. Well, so if it holds over 2850, this is pretty bullish. So this this area here is kind of like what I would call a bearish retracement from this swing high to this swing low. We just it's just called this recent high to this recent low. That's swing high, swing low. That's all that means. Um but this this kind of gray box I just made, that is the that is a bearish retracement. Um, and if it does hold over that, then that means that the bears have more likely given more likely than not given up. >> So that would be bullish.

>> The thing that's weird about it is is is that the banks crushed and so I feel like everything fundamentally, whether it's rate cuts, banks, overall topline growth, it's going to smash. I just wonder if the charts are enough for it to get to that I guess price discovery zone right above 30 bucks where it's never seen. >> All right, so let me just So it's 2875. It it looks pretty bullish right now, dude. Um and again, same kind of exercise that would take you to that 20 2979 which happens to have already hit. Um, so because of that already filling, I would say that this area isn't really a big uh it would normally be a big traffic zone, but I don't think it is in this case. So this 33, this is an extension. So let's say essentially the pathing would be up through up and out. like that, which I'm pretty sure is going to line you up anyways with the prior channel, top of that channel. Yep. This channel, which we'd been kind of highlighting and watching this for what what would you say now? 3 weeks, maybe three weeks. Um, and that could all happen that can legitimately happen before earnings, which is a not a cool setup for earnings, which set which sets up SoFi for the double beat double ski. Um,

>> well, this this happened in January. It pumped up to$,850. >> Yeah. >> From like from like what 1570 and then it dumped to 13 on earnings. >> Yeah. So, that's what I'm saying. So, this can be valid up to the actual earnings call. The second that the earnings call happens, all bets are off. That's my point. Um, and and like, can it come down here? For sure. It really can instantly. Uh, or at least back to where it where it started, which is exactly what Netflix kind of done. Netflix had good TA coming into earnings. It did did the pre- earning. Can we look at Netflix? >> Yeah, let's do Netflix >> just to just so that people know what it looks like if they're not familiar. They might be familiar

>> real quick before you do Netflix. You can pause the timer real quick. So, three things guys real quick. First of all, please follow Jason on X. He is uh doing this for us for free every Tuesday. So, deeply deeply appreciate that. You can follow him there. Second of all, following Knife, thank you for the $200 super chat. Appreciate you. If you have a ticker in mind, please let us know for a TT. But thank you for that $200 super chat. And then third announcement, Skrey is short beyond meat officially. He said I started >> right there, >> right at the level. >> He said I started a tiny short after seeing negative gross margins. So there. >> All right, Netflix, what do we got? So coming into earnings and I think this was my my point was that it could all look super bullish. This is your chart coming into earnings and we had outlined um this little double bottom right here way before earnings uh 1139. And what happens is this entire move from here to here is what we would call pre-earnings move. Kind of like your anticipation of earnings. Uh it's a it's it's a real move from a chart perspective, but it's a it's a fake move in terms of like it's not going to hold if the fundamentals change or the fundamentals don't support it. And if they don't support it, where would it go back down to? Uh, and if they did, where would it go up to? If they if it did get if it was supported, well, we know that this was going to be into the 14s kind of area. And Netflix is typically a a big earnings mover. It would have been like this. You would have to deal with that 1338 first, which still, by the way, can happen. Um, and then I'll move this forward to now. you get earnings and it just literally just changes the story. But here now, if you look at this, if you look at this, it it's basically just gone back to where it came.

One thing I would say about Netflix to preface this is that it's a midcap stock. Med What is the market cap on this? 500 billion, something like that. I don't know. >> 430 I think. >> 530. Yeah, 430 maybe. um which has had by the way a massive run in the last uh year or so. So few years from from 165 all the way up here. So as much as I do like Netflix all of this by the way this is a huge return and I mean giant return. So can it go sideways at least for a while? I think that you understanding where it's coming from. Um I think that if you don't expect a sideways some kind of sideways price action to digest that level of a move, you might be doing a little wrong, but um but it it deserves some digestion. Do we like it? I love it. Um but so I'm from an investment, I'm not going to sell it. Um, that said, this line, that last double bottom is 11:44. Let's just make it right there. And so now that earnings have come and gone, we can do TA. It's literally that fast. We just needed to wait for the call. So 1139. What what's happening right now is this chart is not broken definitively. There's nothing wrong with this chart. It just didn't make the move to the upside, but it has not broken support. Support is at 114140. If for whatever reason uh Netflix does this, that is what you would expect. And that breakdown would be at 1140 from that prior double bottom and it would not hold. And that would probably take you one to 1077 first. It's not going to be a straight line like this. It might be more um you know it might be choppy goodness like choppy like might chop chop chop chop and then probably start to recover like that. So um but even this look when I zoom out all this is is from is a measured move from here to here that's 50% of April 2025 to June 2025 move from this to here. This is a bullish retracement of that move right in here. So I would um I would say that that is your better value. That's that's actually just under it's just under a grand which makes a lot of sense. And then something like this when you zoom that out and you look at it you're like even even if it gets there and then even if this goes sideways for a while and not up. This should make sense to somebody looking at this after that kind of a move. That would definitely be um in the cards. Looks like this is Yeah.

>> Okay. Cool. that kind of prevailing channel. >> I don't hate that. >> Are we buying Netflix when we get there? >> Dude, I've been bearish on Netflix for so long that >> only because you you just missed the ride from 100 something. >> Yeah. Yeah, exactly. I missed the ride. I'm not buying it 500 million. Like, no. Like, I'd buy more Google over Netflix any day of the week. But, um, can we do Amazon? And do you think there's potentially a little bit of a breakout happening here? Um, well, I, you know, I I was making fun of Amazon Bears for a little while at this uh, what was it right here? Oh, I don't even know how I just did that. Oh, new toy. That's cool. >> Trading View. Got new toy. >> Was that training? Yeah, >> I think it was Trading View. >> I don't even know. uh cuz they had tried to break this down 1, two, three times. And at this point, I was like, I know that it's going to 225. I needed to hold this level, this 223 and and really over 228 to be fully out of the range. So I at that point, look, they couldn't get it down. So it did it did go higher. Unfortunately, it went higher to get more sellers. Uh, which is what happened at 228. And so, what what we're what we're toying with right now is is another key level. So, I I wanted 110 or 210 is what I wanted and I ended up getting it right here. There's my 210 or just just close to which ends up which which comes from the bottom right here. So, by the way, this is an earnings move all the way breakout earnings, gave it all back and then some. And so at 211 essentially, we priced Amazon at the exact lows of July 31st. And zooming out looking left, I like this whole kind of setup. Um that said, I think this needs some time. I think you need to be patient with Amazon. It it does move on earnings. But where this where this goes from here, I think it's one step at a time. 223 is this next bar right here. So very large time frame chart that I'm looking at. I'm covering a lot of time. This is probably like two years worth of chart. Um, yeah, 2024. I'm bringing 2024 levels in. We're We're dealing with this area right here. And that red line is 22384. I think we're going to possibly chop a little bit. And if this does that, sure. then that 213 or 215 area should hold um with earnings coming around the corner. Oops. As they should assuming there's no like breaking news October 30th. It probably is not going to need that much time. I think you you make the trajectory. So we're in we we are in the pre-earnings runup. That's what this is. So, this is all real but fake moves because people are anticipating good earnings. And so, we can get to here and I think 240 235 240 is where we're going to at best at best where you would hit your head. um possibly just under 230 before before earnings. And then on earnings again, all bets are off because whatever happens on the call is going to make or break the chart. To the upside, um to the upside, the extension here, I think, was uh 255s. Yep.

>> Do do you think it's a bit of more of a safety trade right now? >> I mean, I think that the market is is taking turns looking across of uh you know, we went through this late July, June, July, late July of who deserves what multiple when. at a certain point, you know, well, the the the nucleers and what have you, the market wanted to give them the premium and AWS or Amazon rather just wasn't that interesting even with the Did you Did you Did you think Amazon was going to get hit after the outage? >> I I I thought it was going to be a crowd strike mode. I thought we would get a 20% Dude, it was bad, bro. Like, >> it was it was actually really bad. It was bad. But >> I didn't get my hood back until 3 PM in the day. It was gone for the whole day. Like imagine if I needed to sell something or buy like like >> Yeah, >> it screwed a lot of people unfortunately. >> No, I couldn't even stream. Reream was just >> Thank goodness. Streamyard. >> Yeah. >> Yeah. Reream was just dead. Um, you know, we we still might get some of that, but I think that's going to be the chop because at the end of the day, look, this is your this is your largest cloud provider. I don't think anybody wants to short it here ahead of earnings even with an outage. Plus, Crowd Strike already happened once and I think people remember that as a buying opportunity.

>> Correct. Correct. Yeah. Okay. Um, Irene, can we look at this one and what are you thinking the charts say here? >> This not look good. Does not look good, my friend. Let's see. We need uh we need to find out where is this pullback going to be. So we have lost a lot of the Momo. Well, we were a little bit blowoff top. So >> I mean this one's still up 450% this year, bro. >> Uhhuh. You're going to go 50? I hope it's not I like uh the idea of IN just because it was probably like the first but I hope it's not like MSTR where you know >> we got a timer >> we're like MSTR remember it was the first Bitcoin treasury and then everybody started to copy them and then and then MSTR like lost its mojo. >> I remember I remember >> Ian is the first >> you're saying Iran could have started the Bitcoin miner to data center pivot and that could also be bad for a lot of them but the only difference here is that >> which makes them they're not special anymore >> but they are still getting demand >> like >> from the hypers so >> so to that point like I would still I would still so so to your point part of me wants to like them. But like the chart is um the chart says I got to chillax here. At least 52 52 needs to be it because if it's not um then it's 42 which which goes all the way back to >> from a fundamental perspective. I have not looked at anything on this stock. I don't know if at 52 you're getting a bargain or not, but you're saying from the chart if it loses 52, it's head of >> Yeah. No, it's no good cuz that's your that's your last retracement. And so when I say lose, I don't mean like intraday little wick. Like do you don't want to do that? Like I mean like multiple days closing below like that. That would be no good. And that that takes you down to this 42. But if you just if you were to just get a little wick but then it closes above that's that's more bullish. That said, even if you get that, you have to be really cautious at 57 because at 57 uh here here's the deal. So like we have you have a legitimate like a legitimate head and shoulders. You know people like this pattern because um you know when it when it does fire it'll hit its target. I think the stat is well the the stat I don't know if you know stats. So technicals uh technical analysis is about statistics and probabilities uh and just finding your edge. So the stat on this is uh it hits its target 83% of the time. A close below 57 triggers that kind of move. Um, and the extension is to possibly 39, which actually would be

>> Okay, AMD. 242. >> Oh, yesterday. Oh, this is tough. Um, so trade location if you want to be bullish. It's a little sideways. Maybe one more dip and then let it consolidate. That's what I have on my chart. Um, bad looks like >> we got a we got a new timer. >> I'm sorry. Bad looks like uh we'll do half on this. 230 227. I mean, I wouldn't even say there's a little session gap right here. This sets up for um >> little exhaustion. >> Yeah, this earnings is also not going to be like phenomenal. Everything that OpenAI all that that's next year, you know, so I feel like if there is any disappointment, which AMD is disappointed for the past three, four quarters, does this get to hold >> rain on the parade, man? >> It's not even raining on the parade. It's just like it might not be that as you said with SoFi, if it gets to 35 before earnings, it takes away a lot of the upside. >> Yeah. >> Or is AMD going to 300 on earnings? I mean, for what? >> Well, I'm gonna find out% data center growth. >> Not 265. Um, well, oh, good night. I need to get this. Oh, there's your 300 number. Is that Did is that what you had it from? >> I just threw it out there. I'm like I I don't know what the company can say to actually make a move that's bigger than 240s unless data center growth meaningfully accelerates but why would it like in Q26 >> it's a it's forecast right so uh interesting spot so 23 what is this 227 I'm just going to anchor this real quick 22730 is that prior all-time high looks like it bounced off right there. This is interesting, man. I didn't notice this before, so thankfully technicals use it. But 227 is that prior all-time high. We've got some closes above it, but that's going to be your that's that's to me for sure going to be your key pivot. 227. And I remember 222 being a pivot, too. So, I think you could let this consolidate a little bit and probably go sideways, but earnings is going to come and it it might be more like a pullback and then bounce because your 20 days not till 200 and I had 185.

>> I don't know if we I don't know if we get below 200. I feel like that's just >> I mean 203 that's the 20-day simple best case scenario this goes sideways for a while >> or at least to earnings but with that kind of a move and earnings coming I'm just wouldn't people want to start taking profits before the actual earnings announcement is is that's the only thing in my head right now >> my point dude they did 14% data center growth last quarter if if Q3 is not substantially above that what is the streak going to get excited for? Now, if they bump up the guidance like crazy, which they should, that could be a change. But then again, this OpenAI stuff is not confirmed. They've got to build the data centers before they buy all the MIA450s. So, can they actually put in their guy that OpenAI is going to be buying10 billion worth of stuff next year? That's why I'm saying I I I really don't know how to think of this going into earnings given a lot is priced in. One could argue. >> Yeah. Well, all I can tell you right now is that this 227 is your key pivot from that prior all-time high. It's this is what we call high and tight. So, it's it's trying to continue on this bearish or bullish structure. And if it does, then 265 is your next stop uh if this breaks out. And if it doesn't, then 203 to 190 is your bullish retracement. Um yeah, that is a that is a bullish retracement and then 300 I guess. Um but I we have to one stop at a time 265 possibly 270 and plus you know it's AMD sometimes it's up this thing I bet you AMD I mean could you could open up one day one morning and it'll be down 10%. This is how AMD is always traded. You're down down 10% one day, up up 7% the next three days in a row like like or just like up 7% three days in a row, down 15% four days in a row. That's how AMD used to be.

>> Jason, can we can we pause real quick? We do have some breaking news. Anthropic is in talks with Google for a cloud deal worth tens of billions. As a result, Google's pumping and Amazon is dumping. >> I knew we were going to get that pullback. >> Hilarious. >> Yeah. Did you see that? >> Did you see the headline today on Google? What was it? Open AI browser mode. >> OpenI browser. Yeah, Open AI browser thing. >> And then it went straight back. Straight back. Right. >> And then it went straight back. And the weird thing about Amazon dumping right here is Amazon owns a good chunk of Anthropic and they get paid based on some reporting that we looked at yesterday almost three billion a year from Anthropic on AWS. So I guess it's kind of bearish Amazon if this is correct and Anthropic is moving to Google. Uh but I also think it's kind of just anthropic needs >> they want more diversified vendors right which is a lot of the hyper a lot of the foundation models are doing that >> like open eye is using all these guys so >> also these numbers that we're hearing in the headlines dude they're just getting bigger and bigger and bigger every day >> tens of billions I don't know if this is inflation or what >> I just hope this money is there. It's like re I just hope one day we can touch this money. That's like Oracle 300 billion in remaining performance obligate. Well, I hope 300 billion is coming from somewhere. I really do.

>> So great. Okay, let's finish him and then then we'll do Google. >> Oh no, I think he is like 40% short float is crazy. Um, so somebody's playing with fire. Not saying it's going to be a short squeeze, but it it it's posturing for a squeeze. Um, and it's it is in consolidation. So, um, earnings are coming on the on the 3rd of November. Quite frankly, any shorts that I I I like this, dude. any shorts that added up here at the highs. This this by the way is where they should be adding their shorts trade location and they should be covering in this bottom half down here. That that's how they should be doing especially as as we approach earnings at the beginning of next month. I like this area below 50. Let's say some, you know, I can't give you a specific number on on hands because it's can be so volatile that I could say 48, but within one or two minutes it can go from 48 to 40 and then back to 48. So somewhere somewhere along this kind of trajectory, 45ish.

>> Okay, makes sense. Um, I guess let's do Google then. And what do you think the charts are kind of saying here? It did defend 250 nicely after the opening eye headline. >> Yeah, it did. Google this morning was a little exhausted. I actually had this on on um like day trade watch, but uh it had already it's it had already kind of hit like where it was. So, we open at the highs. You get a little bit of a look above and fail. uh little bit of a look above and fail, but saved at the 20-day simple moving average, which also happens to be that 245, 248 kind of level, which is all I had for the day, pullback, retest. Um, even with the news headlines that 248 to potentially, it would have been 245 to the downside. that actually all happened in the in a matter of minutes. Uh locks in a higher low. So higher high, higher low. This looks better now. Just need a little sustained momentum. Um and after Yeah. 245 after um a bit of an extended consolidation end of the month you could get that dude are we doing this I too much so tomorrow if it's over 256 with strength yeah The trajectory trajectory is 268 just underneath 270 for the next move on just this consolidation here. And that pullback today was pretty good pre-market pullback 245 and then higher low intraday. Yeah, I mean it looks it looks decent, man. Are you gonna reload?

>> Okay. So, we got two more left, guys, and then we'll be ending early today. Number one, because I got to leave early. Number two, because we have earnings and we kind of got to get the earnings before we do a TA. So, last two. Uh, first one let's do is pounder. This one feels like it's coiling up aggressively for a move either up or down. >> Oh, look at the squiggles I had. Uh, I think this is from our last um, so it is aggressive. This is our last TT. Um but we are not there yet. This is the consolidation box. That breakout is over. Yeah. 190. So 190 is where it's technically hitting it. It's going to hit its head. Um you have to wait for that to base and break it. I don't know, dude. Um it looks okay. This I think you need to react and not anticipate on this. >> I feel like it's going to 200, bro. That's just that's my that's my take. I could be wrong. >> My my only my only thing about that is like what if it pulls to 158 first before it goes to 200? But but wouldn't it need a a more fundamental catalyst to like a crappy earnings to get there? Oh >> just sentiment, some kind of headline. >> Yeah. I I feel like I feel like if it was going to go back to those levels like while you've had all these high beta names pull back, the worst pounder saw was 171 and that was off a Reuters article. >> Yeah. >> It got it had 142 when the whole uh Citron thing, but that was three months ago. So it's been in a tight 170 to 180 range for almost two months. >> It's very tight. We just need to get so this is that 170 box that you're talking about right here and the center line is like 178 and then you have uh like remember so the volume shelf like this is a we call this a volume node so like if you lose the peak that's why I said 157s um but it's what I what I mean technicals technical analysis is It's reactive like I can forecast but it's the way it works the way TA works is it's it's if this then that. So something has to happen first for me to react and we don't want to anticipate right. So what has to happen for me to react is that this has to hold over 190. And when when it holds over 190, then the technicals will say this is this is like extreme high probability that that's going to happen. But until then, it's more of just a watch cuz I just to take it here now from a tactical perspective. This is anticipating um which is what you're not supposed to do from a TA perspective like just to be a trader for a second. Um so it's it's very much on a heavy watch but if uh but again if it if it loses that 50-day in strength then the better buy is is in that 17 157 which might just might just be that kind of launching pad to do this but even then you still need this reaction level. So, it's if this, then that. Um, if it's over 190, then we're going to 215. That's the if this, then. Cool.

All right, last one. Again, guys, we weren't able to do a lot of stocks today, but this is not one of those days to take a ton of requests because we have earnings coming up. Um, well, this is a two-parter. >> And And he's got his date tonight. >> I I don't have >> It's a pre-birth dinner >> with the dentist. >> A pre- birthday dinner. Uh, there's two of them. So, so you you can spend the last two days. >> Wow. >> Not too uh Nvidia and gold. Nvidia and gold. >> A little bit and then gold. >> Well, 177 was that level that we talked about that I talked about last week or last last couple times. And that was that um in here. This is that what we call point of control. I mean, dude, it's right there. So, it is a bullish hold. The only issue here 177 I mean that that that there it is. Um that's the bullish hold. We're still toying with this 20 and 50 day simple moving averages. So you see how we're stuck in between that white and blue line. That's what I mean. We we call this moving average like ping pong. You pingpong in between them. Ping pong ping pong ping pong till you finally get out which would be into the 190s. Um, and until then that might mean that we have to that I say we I'm log in I have Nvidia but like you would have to you'd have to you it's building this base. I just don't think that uh so as we approach earning season, here's the deal to me is that um everybody's going to start to report and if you don't remember how this goes um it's going to be Microsoft, Meta, Amazon, Google, and everybody's going to be talking about what AI GPUs and the closer that we get to that I don't think that you want to be not long cuz this pre- earnings runup for Nvidia happens which by the way does not till like December happens in the midst of everybody talking about what their spend is going to be >> right and and increasing their spend guidance yeah >> yeah or not right but but from what I can tell I mean you want to read the market the numbers just I just said it 10 seconds or a minute ago the numbers keep getting bigger. The numbers that we keep hearing about are just getting bigger and bigger. Whether or not you believe in this uh situation, I just don't I I think this is the this is where you would accumulate.

>> Okay. I I agree with you. I think it's consolidating. Well, gold had the April the the lowest the highest draw down since April 2013. Do you think that is scary or do you think the trade is exhausted? I mean, I don't know if you're playing gold, but how would you how would you think of it? >> Um, they lost trillion. >> Yeah. Well, I mean, gold's been making this move. I mean, on gold's been carrying this move. multiple central banks getting long gold due to the dollar weakness as a whole >> hedging against the dollar and um and geopolitical risks. So the more that we talk about trade talks and yeah so we had a little bit of a double top here. I don't know >> that a little bit that looks like a full-on double right that looks >> Yeah. Yeah. Full on double top. I didn't even see the chart look like that today. That is Yeah. >> Yeah, that's daily. So, that's the double top. Um I think tomorrow would tell if I were to say, hey, look, how does a double top play out? Same kind of thing. You you really take from the low to here. Here's your here's your here's your consolidation level. You have a break through here. It's a measured move essentially to the 20-day which is 39 just under 4K. And I think you get long again, dude. I do not think that you want I don't think >> Oh, you're bullish. You're bullish. >> Yeah, I don't think you fight this. Um >> Huh. No, I mean just look at the dollar. So the dollar I don't know unless the dollar like climbs up which is which is kind of like the one canary in the current coal mine um

>> okay, but bro, but here here's the thing. Gold if gold is sideways for the next six months, I think a lot of the euphoria of people that got excited for it, I think that dies out pretty quick, right? Like if it's flat for six months, who's who's buying up gold on the Robin Hood? >> That's not why gold's going up. >> That's not That has nothing to do with how I I I would challenge >> You think it's all central banks? >> You think it's all central banks? >> Yeah. >> Okay. So, why do you think it's going off today? Central banks. >> Uh well, we just talked about it literally like the the meetings if if geopolitical risks are not a thing and then the dollar starts to strengthen again a little bit. Um, it's >> Oh, China. China, too. China could be. Yeah, >> it's China. It's India. Um, who else is it? Uh, >> there's a lot of countries that have been loading up on it. They might just be taking profits over there. >> Maybe retail profits. Maybe retail shorting. I would say look if you if you if you are concerned about it there is a um there's an ETF called uh GDXD which is the a inverse gold miners ETF. This thing is like 89 cents 85 cents. You could pick some of this up as a hedger. It's probably not going to move a whole lot but um this is another one where uh you know what GVZ I need to do this. So, this will tell me. Yikes.

>> That's the gold volatility index. Goodness. >> You know what this is? How do you even know what this is? >> Who taught you that? >> I just read it in the background. That's I should have played it off like, bro, I trade this all the time. Of course I >> No, this is secret. Um, so the way that the gold volatility index works, tickers GVZ, um, is is like >> it's like the VIX for gold. >> It is the VIX for gold. Not literally the way that gold works and and and and the volatility around gold is that volatility goes up when gold goes up. When gold goes down, volatility does not go up. It's like it's kind of inverse. So this whole move um I I was looking I should have taken this. Damn it. Whatever. Um so we have kind of peaked at this gold volatility index. This is the prior highs. This is this is peakish for sure. Um, but if you want a secret squirrel kind of way to know whether or not gold's going up or down, um, I would put this on your radar. And if this gold volatility index starts to climb back up, meaning this starts to do a little something like that, she's probably going higher. That's just how gold works. >> As they buy, this thing cranks to the upside. >> Clearly. >> Yeah. >> This information is Yeah. >> Yeah. Literally. >> Literally. So, big day tomorrow, Tessy and Mit's got his dates, two dates apparently, lined up. I don't know. I did not Grinder invite all day yesterday. I couldn't get onto his Grinder profile. I was shut down. Like, yeah.

>> He texted me. He's like, "Bro, heard there was an AWS outage. Have you been able to post on Grinder?" And I'm like, "Bro, you so much." >> Yeah. You know, >> all right, guys. >> That is it. Jason's Twitter. Please make sure to follow him. His private links as well are here on his Twitter, Discord, all that stuff >> to interact more with him. Again, We didn't do a lot of names today because we have earnings coming up. So, quite frankly, a lot of the TA is not going to matter over the next two weeks until we get these earnings. But, we will be back next week and um Tesla's the big one tomorrow and then we'll go from there. >> We're on for next week. >> Are we What's next Tuesday? We might not. >> 28th >> 28th. Yeah, I think we I mean it's Visa, Cheesecake Factory, and Nphase. We could look at earnings for 20 minutes. >> Cheesecake Factory. Maybe that's a good one. >> Yeah, we can do I'm down. >> All right, there you go. Thank you, Mr. Jason. Appreciate it. Again, there's his Twitter and YouTube in the chat. Uh the daily recap will be out in a couple hours, so that'll be posted today and I'll be back tomorrow for the market open. >> All right, see you later, guys. Adios. Thank everybody. See you guys tomorrow. Bye everyone.