Chapters
00:00 Intro: A Monday Nighter
01:34 GP: Where's the Overextension?
03:07 Nick: Let the Big Caps Rest
05:10 GP: Small Caps' Breakaway Gap
07:16 GP: Financials and Valuation Talk
08:47 Ben: Roku Calls
09:19 GP: Profitability Gets Rewarded
10:23 Broadcom and Lam Research
10:53 GP: The Netflix Thesis
11:57 Tips for New Traders
14:02 Nick: The Mental Game
14:34 Ben: Don't Fight the Trend
16:39 GP: Gold and the Crowded Trade
17:40 GP: Energy's Distribution
19:11 Square: Distribution or a Shot?
20:46 Nick's Watchlist
24:51 Tesla's Pocket Pivot
25:21 GP: Elon Refocuses
26:24 GP: Roblox and the Weekly Cloud
29:30 China: Alibaba and Baidu
32:08 Cybersecurity and Twilio
35:12 Coinbase
36:13 Nick: Bitcoin's Flat-Top Clouds
37:46 Ethereum vs. Bitcoin
38:18 Nick: Airbnb's Levels
40:51 Roblox vs. Airbnb Accumulation
41:53 Opendoor and SPACs
44:28 GE and GE HealthCare
46:00 GP: The Dollar's Throwback
48:05 Crude Oil
48:36 Semis: Broadcom and Micron
50:08 Gold's 160 Level
52:15 GP: Hut 8
53:17 Crypto Miners and MicroStrategy
55:18 Nick: ASML and MercadoLibre
56:50 Ben: Likes and Dislikes
57:54 GP: Home Depot, Tesla and Netflix
1:00:25 GP: Exxon on the Short Side
1:01:57 First Solar
1:04:01 Transocean
1:05:01 Wrap-Up
Market Hours #67 was a Monday-night stream on May 22, with Ben, Nick and GP back after a week off. GP said he sees no overextension in the QQQs, the small caps or Netflix. Nick wants the big caps to rest. The hosts argued over Square, Airbnb and Roblox accumulation, read Bitcoin's weekly clouds, the dollar's throwback and gold's 160 level, and finished with Tesla, Netflix and Exxon.
Nick's setups, levels and trades
Nick said "it'd be great to see some of the names like you know Google and Amazon whatnot kind of just chill for a bit," because "it'd just be nice to see them kind of rest and move sideways a little bit to create some pivots." "Otherwise like I don't have a way to like lag in with any type of like definable Risk." On the mental side, "I'd say it's more important than picking stocks looking at charts," and "the easiest way... to make money is generally to do the opposite of what... the collective is doing." "I'm long Square and I'm hurting." His list right now is Google, ISRG, Netflix, INSP, NU, Uber, PGNY, KLAC and AVGO. "Lifetime is probably one of the setups that I'm kind of focused" on among the cheaper names. On Bitcoin, the weekly "has like back to back to back to back flat top clouds which is why it's been struggling," with "a small window where it can break through" around mid-June. On Airbnb, "it's gotta get over 1 15-ish for me to kind of get to want to get back involved," and He wants to "see it kind of get to the 50-day at least to put a starter on." "For it to really get moving I think it's got to also get above 130." He felt "very fortunate I was able to trade my way out of fnv." He likes ASML, and MercadoLibre is "game on" if it "clears 365."
Ben's setups, levels and trades
On Roku, Ben said "it's going to go somewhere higher yeah and I got calls to support that." He asked GP for the Netflix thesis again. For new traders, "just buy good quality companies that's for investing." "Cookie is adamant about... just go with the trend," and "it's also great to know where the slope and the trend of the moving average is so you know when to press and when not to press." In cybersecurity, he said of Sentinel One "I proudly hold" a piece, and "OCTA which I got out has it's right back to where I got out of it." For his dislikes, he doesn't like the DXY: "it might pop but I think it's gonna fail." He likes Coinbase, China names for a trade and the biotechs, and "I even like Sofi."
GP's setups, levels and trades
GP said "we finally made a higher high on the QQQs versus August," and "am I the only one not seeing over extension here like we're just starting to break out." Small caps are "in the Breakaway Gap from 2020," with "a massive base for well over a year," and "that Breakaway Gap is 176.95." He holds IWM calls out to September. "The financials are all basing above the 2008 to 2021 Baseline breakout," and "these are all to me indications" of big moves "over the next six to eight months." Shopify is "a really good powerful example of a management team" that returned to profitability. His Netflix thesis: "the way Netflix closes the way the market goes." For new traders, "on the trading side I think... one of the best things you can do is work on your mental." On gold, "when you have everyone on one side of the trend it's most likely going to counter Trend." Energy "looks like distribution," and Exxon "hit like the highest multiple it's hit in 30 years on this run." On Square and PayPal, "I don't see any accumulation in the chart." Tesla "is going to go to 300," because Elon said "I'm gonna refocus my energy on Tesla and that should make every call seller put buyer and short or on notice."
Roblox "is finishing up the weekly flat top Cloud," and "I'm personally going to be looking at leaps over the next couple of days 20 25." He bought it on the way down, and "the lowest price I got was like 24." On Alibaba, "I've been in September calls for Baba for a couple months now." On Airbnb, "I don't see any accumulation in this chart." The dollar "looks like a throwback Until It Breaks that 104 ish area," and "on the monthly the macd just crossed down on the dollar." On Hut 8, "I own a bunch so I'm just waiting for it to move," and he sees it moving "to about seven near term in the next six to 12 months." He also likes the Home Depot weekly candle. "I also really really like Tesla I'm long this week's calls I'm long August calls and long shares." Netflix keeps selling "before the 380 Mark," since "380 is the level where Reed bought his 20 million shares last year," and he sees about 450 "pretty quick." He doesn't like Exxon, which you "can wait for it to crack a hundred" to short. He thinks "oil services do better than oil producers so oih over XLE."
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