Chapters
00:00 Intro: It's the Tuesday Show
02:51 GP: The 3D Printer Cycle Is Back ($SSYS, $DDD, $PRLB)
06:08 Nuclear, Bankrupt Names & Shitco Fall
08:18 Nick's New Trades: $MP & US
08:49 Ben: Habitually Early & Revisiting Sold Winners
10:29 Nick: Master Lists & High/Low Alerts
13:11 GP: Trimming Tesla, AMD Tranches & Rocket Lab
16:53 Founder-Led Disruptors & Robinhood
18:27 Ben's Portfolio Rebalance: Six Core Positions
22:12 Nick: Heading Toward a 1999–2000 Blowoff
28:35 GP: SPX 7,740 Then 10,000
30:11 When Bull Markets Really Start
36:10 GP: Was Liberation Day 1987 All Over Again?
39:23 Nick: SPX Measured Move to 14,000–15,000
42:28 How Liquidity Grabs Work: $RBRK
51:30 Horizontal Levels, Stops & Buying $NVDA at 180
55:11 Trail Stops & Dead Money
56:14 Ben: Core Holdings vs. Torque
58:27 Nick: Lessons from the Prop Desk
1:00:35 Bucket Lists: Farms, Castles & Mustangs
1:07:30 Stocktoberfest & Wrap-Up
Market Hours #149 went out live on Tuesday, September 23, with Ben, Nick and GP ("it's the Tuesday show"). GP opened by saying the 3D printer cycle was back, "a throwback" to 2021, while nuclear names with no revenue kept popping and bankrupt names caught bids. That led to a long talk about managing winners. Ben laid out his portfolio rebalance around six core positions plus "torque," GP explained how he trims and re-buys high-conviction names, and Nick described his alert lists. They debated whether this is a bubble with a long way to run, GP's SPX extension targets, a 1987 analog for the tariff flush, how liquidity grabs work using Rubrik, and where stops belong. The show closed with bucket lists and a Stocktoberfest reminder.
Nick's setups, levels and trades
Nick threw on two trades that day, MP and "US," both off early pivots, because "the charts look good." He watches a master list of about 1,500–1,600 names and toggles through percent and dollar gainers and losers. He keeps a separate list with alerts. When he exits a name, whether stopped, trail-stopped or stopped out by time, he sets a low alert for a retest of the 200-day or 50-day, plus a high alert. "I'd almost prefer to buy on strength versus weakness," so he sets alerts on high-volume candle ranges, a base low being reclaimed, or all-time and 52-week highs. He once ran turtle-style 20-day and 55-day high alerts from a Michael Covel book, but "it just got to be way too much."
He thinks the market is heading toward something more like 1999–2000 than COVID, "a massive blowoff," whether that takes two to three years or five to ten. Asked to frame it, he agreed that the bubble has a long way to go. Satellites delivering service anywhere will be "the final nail in the coffin for fiat cash," and e-currency and everything moving online point to Meta becoming your one digital profile. That also makes cybersecurity huge. When the blowoff ends, he expects the pullback to be harder than anything in the last 20 years, but the rallies inside a long range should be tradable. On a quarterly S&P chart, measuring the 1963–early-'80s and 1997–2013 ranges gives a measured move of about 14,000–15,000. He's "100%" on board with GP's 1987 analog.
On liquidity grabs, he said it's "flushing price into an area where there's a lot of demand." Rubrik (RBRK) was smoked into its 200-day after earnings. He takes the Trader Florida approach of playing the first ABC leg off the lows. On the RBRK daily, the entry was about 78.50–79, with confirmation through 79–80 on a reclaim of the most recent pivot low. He cited a Matt Caruso video on how institutional flow builds bases and ranges. A huge red bar into a level may really be accumulation. Funds put in floors with block orders rather than chase, and short-term stops likely sat around 81.50 or under 80. When he doesn't want to cut a trade, he sometimes cuts the size by three-quarters and widens the stop. A trail stop frees cash for a fresh trending setup instead of dead money. From his prop desk days, he remembered veteran traders who carried no debt and pulled profits into hard assets like homes. "A lot of us that are more active traders want to get stuck in this identity of the trader rather than a money manager." His bucket list is a laundromat, a car wash and a farm.
Ben's setups, levels and trades
Ben admitted he's "habitually early." He bought MP when it was a SPAC, sold it in the 30s and 40s, and never checked it again, even after he flagged it in the 20s about a year earlier. It was now around $75. Rocket Lab was the same: he owned it from the SPAC days and sold it around $17–18. He said he'd just completed "a full portfolio rebalance." He has six core positions he wants to hold for as long as possible, and 20–25% of the portfolio goes to leveraged "long enhancers" that put "torque" into them, as he's already doing with crypto. He and GP were all over Coinbase in the 50s, and from that cost basis he can likely hold it forever. "You hate to blow up your basis from going 55 to buying at 300, but... if it's going up, 300's cheap." He's held AMD forever and just restarted a position in Nvidia: "Do we see in the next 13 to 15 years where semiconductors aren't part of our future?" He used to buy the bottoms in Rivian, SentinelOne and SoFi "where people's stops should be" and grew those positions while selling higher, and Marvell is a similar case. "You just got to hold the core. You don't trade the core."
He looked back to the S&P's 2018 Christmas Eve flush and the late-2018 T-bill and corporate issuance worries. Since he started managing his portfolio around 2017, "there's not a dip that I wish I didn't buy." He wants a farm on a big acreage property and noted that Jim Cramer sold his Ethereum in 2021 and bought a farm, which he called genius. He's hoping his "crypto bags" can do the same.
GP's setups, levels and trades
GP said "Welcome back to a throwback": the 3D printers are cycling again, as they do every three to four years. "They pop, they drop." Stratasys (SSYS) has an inverse head and shoulders basing at the $10 mark with volume coming in. DDD led last time but has less volume, and PRLB "has got a better base. This could break out more." But "it's a trade. It is nothing else," because SSYS hasn't figured out how to be meaningfully profitable in 30 years. Meanwhile Oklo, with zero revenue, sits at $150, and Elon buying $1 billion of Tesla could barely move it 5%, so "know where your momentum is and trade it." The new small-cap cycle leaders are crushing it: Hims, Lemonade, Rocket Lab, AST and Duolingo.
On long-term names, he trims what moves insanely and re-buys lower. After his roughly 25x Tesla move in 2020, he trimmed in the 300s and bought back in tranches from around 270. His last AMD tranche was at 120 before it went to 101. He's a Rocket Lab shareholder from 26, trimmed at 47–51, and re-added the shares at 41–42 for the next leg. He didn't sell Hims, where he has more conviction. Founder-led disruptors have volatility like no one else but tend to figure it out if they pass the sniff test, like Robinhood, which "could not find a buyer sub 10." He'll be lightening up at SPX 7,740, the 161% extension of the breakout from the GFC. After that he expects a decent correction, maybe like 2022, then the bigger move to about 10,000 at the 261% extension. A bull market starts when prior highs are taken out, so the bull didn't begin in 2009. He sat underwater in his Roth IRA after buying SPY around 120–125, and "you didn't get whole until 2013." His question: what if the tariff flush was the 1987 analog, "worse than COVID," kicking off a long bull?
He thinks Apple gets discounted when "they are operational... they just crush it on every metric," and it set the trends in earbuds and watches. He thinks there are a lot of people up big who will sell fast on the first dip that doesn't stop, making a quick move down. On liquidity grabs, Rubrik had solid earnings, got smashed for three days and was back to about 82–83. The selling gets holders to doubt and exit, and "that chase is where they start selling into." Horizontal lines often mean more than trend lines, and you can see the volume shelf in the candle bodies and wicks. Stops get run below obvious levels, and paraphrasing a book, "your stop should really be where you're buying" when building a position. His bucket list is a castle in Italy ("must have tunnels"), a Karmann Ghia for his wife and an old Ford Mustang fastback.
One of the hosts, whose name isn't clear in the captions, said he was done waiting on Nvidia after placing entries under it since May: "180 is my price. I'm just going to buy my first tranche here."
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