Chapters
00:00 Intro: The SVB Weekend
01:01 Nick: What the End of a Bear Looks Like
05:13 Nick: Where He'd Load the Boat
07:45 Gap Up or Fade?
08:48 Ben: The Sentiment Cycle
10:56 GP: Bonds Say It's Okay
15:37 Ben: Counting the ABCs
17:13 Nick: The 370s and the 300 Magnet
18:44 Ben: Short-Dated Puts
19:47 GP: Big Tech's Cash Piles
21:52 Ben: Friday's Trades
23:24 Ben: Enough With the Analogs
23:55 GP: SVB Failed on Treasuries
26:30 Ben: The Guardrails Came Off
27:01 GP: JPMorgan's Volume
28:38 Ben: The QQQs' Flag
30:12 GP: The Dollar's Rollover
32:16 GP: TNX's Reversal
33:17 Nick: Gold's 182 Trigger
33:48 GP: Why Wait for Gold
35:22 GP: Cash Beats Gold in a Collapse
38:36 GP: XLF Volume
39:37 GP: If the Lows Break
40:41 Ben: Apple and Microsoft
42:14 SMH and Shopify
43:15 GP: Bitcoin's Monthly Doji
43:45 Ben: Ethereum
44:20 GP: Roku and Biotech
46:26 GP: The XBI Spring
49:29 The 2008-09 Analog
53:11 Nick: The February 2009 Comparison
54:43 Lululemon
55:14 GP: The Defensives Are Dying
56:15 Nick: AutoNation and Beyond Meat
58:50 GP: OpEx and Flows
1:00:24 Ben: Nvidia and AMD
1:01:57 First Solar
1:04:02 Tractor Supply and Exxon
1:05:05 Alibaba
1:07:12 GP: Netflix Leads the Market
1:10:19 Nick: Tesla's Pivots
1:12:27 Nick: AutoNation and Boston Scientific
1:13:30 Roblox and Beyond Meat
1:14:02 Ben: BUG and Apple
1:15:02 Intel
1:16:07 Wrap-Up
Market Hours #58 went out live on Sunday night, March 12, with Ben, Nick and GP, on the weekend Silicon Valley Bank failed. Nick said a flush would look like the end of a bear market and named where he'd load the boat. GP argued that bonds, credit and copper say things are okay. Ben shared his Friday trades. The hosts covered the dollar, gold, the XBI spring, the 2008 analogs, Alibaba, Netflix and Tesla's pivots.
Nick's setups, levels and trades
Nick said "if we do leg down like the... end of the world that you're seeing is like what you see at the end of a bear Market." On the SPY, "this is kind of the magnet where I would think that we are heading," and "I would be a huge buyer" near 295. "If we leg down we're legging down into such massive support," and "I'd be DCA into every single one" of the bigger names, like Google, "where I'd be looking to... load the freaking boat." "I'm definitely much more bullish than I am bearish." "If we continue just a little bit lower I think the 370s is kind of where were heading," and "I think if 377 gets taken out you're gonna see even more people calling for the" lows. "If 350 does get taken out yeah that's again 300 is the magnet." On gold, "I think 182 is your trigger," but "why not just weigh it... another 10 points and buy the all-time highs." On the 2008-09 analog, "basically we're at... February of 2009," and "we spiked the lows undercut the lows and then we rallied." "Autonation's my favorite setup out there right now," and it "put in a three-week tight sitting right on top of a Channel." On Beyond Meat, he bought "100 shares." On Tesla, "I think 220 is your pivot if you don't have a current position," and "getting involved anywhere in between is kind of foolishness." "I'd much rather be a buyer through 220 than necessarily trying to short it through a hundred." This week he's watching AutoNation and Boston Scientific, which are "sitting right on top of the 30 and 40 week."
Ben's setups, levels and trades
Ben said "I went along some things and I also covered some calls on some things," because "if we keep going lower I can cut pretty easily." "385 388 was kind of like the Line in the Sand for me." "From this sentiment cycle we are probably closer to B than we are any other point in that cycle." On short-dated puts, "I've been all right with two weeks and a month out." Google is "in this high 80s low 90s range I think it can be tradable," and "I almost... pulled the trigger Friday." "I went some more Amazon I sold some puts to open on Alibaba," and "I covered some calls on cloudflare... AMD... Sofi." "I see those types of candles as things that you need not panic but you should probably be ready to take action." "You guys know how I feel about the analog," and "we can take random points on charts and just make them look like" each other. On SVB, "you took the guardrails off." The QQQs have "a little flag above the moving averages." Apple has "five straight inside weeks off the earnings," and "Mr Softee does not look bad at all." "It's okay to be wrong it's just not okay to stay wrong." The SMH "keeps getting slapped down around this 246 mark." On Ethereum, "I actually added some to the bags Brothers portfolio." The XBI "has been miserable from the moment I added into it," and "I wish I'd waited 24 hours to buy." "I hate buying the middle of one of my range boxes." "I did close my Nvidia long position near the high on Thursday," and "I've got covered calls against my AMD position." On Alibaba, he sold the 84 puts for $4.05, and "probably somewhere in this 99 to 100 level I'll probably lighten up quite a bit." "I'm gonna go with bug as opposed to Sentinel one," and "I really like apple this week."
GP's setups, levels and trades
GP said "to me we're in C" of the sentiment cycle. The dollar "is the exact same chart as the QQQs of 2022," and "all the things that I thought were going to happen happened except for one," the price action on Thursday and Friday. "I'm pretty confident that one of them is lying and I think it's the equities Market." "The investment grade lqd... barely flinched," and "junk bonds barely came down on Friday." The financials "are sitting above a 13-year consolidation." "Look at Dr copper Dr copper is doing pretty... well." "Google itself is sitting on a hundred and nearly 40 billion dollars in cash." SVB "didn't fail because they made investments in things that were levered eleven thousand percent like 2008. this was U.S treasuries." JPMorgan's Friday candle "is one of the greatest green volume candles it's had since November 2020." On the dollar, "I think you run it back down to here at least 92." On gold, "you're going to get pulled up it's starting to move it's gonna fail," and "it's hard for most people to be fully engaged on when the move actually happens." "If a collapse scenario happens cash is better." "If we break the lows I'm out," and "if that breaks I... personally think we go back to where... QE started if not lower."
On Bitcoin, "monthly doji... from 20 000 to 25 000." He's still long Roku. The XBI candle "wipes out everyone after months," and "it's the spring setup." "This is the shake before the bake." The defensives are "starting their... descent from the distribution that's been going on for a couple years now." For OpEx week, "I'm not making any predictions I think postopics is going to be the bigger tell." "A week or two of garbage is not the end of the world." On Alibaba, "82 18 I believe is that... 61.8 retracement of the move from the lows," and it is basing at the IPO lows. Netflix "is at the bottom of the ascending triangle," and Friday it "got within 30 cents of those January lows... and then close above 292." "I'm long-term bullish Netflix," and "if it can give me another five percent off I'll be interested." "Where Netflix goes is where the market goes and it was one of the first to fail before the market failed."
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