Chapters
00:00 Intro
00:49 Nick: The Mastermind Group
02:21 Nick: Discipline Is Self-Love
05:24 Nick: From Day Trading to Holding
06:57 GP: The Art of Execution
10:33 GP: Taking Losses Frees You
11:03 Nick: Your Self-Worth Isn't Your Account
13:08 Nick: Journaling How You Feel
15:14 Ben: A Red Start to the Week
16:49 Nick: The QQQs and the 50-Day
18:19 GP: Narrow Participation
20:21 Ben: The 1.618 Extension and S&P 4300
21:24 GP: A Gap Fill Raises Red Flags
22:26 Ben: The Shake-and-Bake Camp
23:29 GP: Why He's More Cautious
25:03 Ben: Goldman's Tesla Downgrade
26:35 Nick: Where He'd Add to Tesla
27:37 GP: Tesla's Nvidia Analog
29:40 GP: Third-Wave Breakouts
31:11 Ben: Buying Google
33:17 GP: Mega Caps and AI Earnings
34:51 GP: This Isn't a Bubble
36:25 Ben: Which Mega Cap Would You Drop?
39:31 Relative Strength Leaders
40:34 Nick: Uber on a 20-Day Test
41:38 GP: Uber's 45 Resistance
43:40 Humana and the XLV
44:43 GP: BWXT's All-Time High
47:18 GP: BOIL and Natural Gas
48:51 GP: Crude Below 64
50:53 Nick: The XLE's 70.29 Low
52:24 GP: XOM's Moving Averages
53:58 The Dollar Index
55:02 Nick: The XLI
56:33 Ben: The IWM and the 179 Alert
1:02:14 Ben: Google, Robinhood and SoFi Calls
1:04:49 Nick: ODFL, SAIA, Uber and Celsius
1:05:21 Ben: The Transports
1:05:52 Nick: Not Gold
1:06:52 Disney's Descending Triangle
1:08:54 Enphase and 3M
1:11:00 Wrap-Up
Market Hours #73 went out live on Monday evening, June 26, with Ben, Nick and GP. The show opened on mindset: Nick on discipline as the ultimate form of self-love, and GP on The Art of Execution and when to cut a losing position. They then looked at the QQQs' pullback toward the 50-day, Tesla's Goldman downgrade, Ben's new Google position and the energy trade. The hosts closed with small caps, the transports and a weak Disney chart.
Nick's setups, levels and trades
Nick said Think and Grow Rich describes "basically having like a mastermind group," and he uses his TweetDeck that way. "Discipline is the most is like the ultimate form of self-love," and "making money is ultimately more important than being right." "I've always found it easier easy to to take profits and like cutting stop losses," but holding through a range has been "the difficult thing for me." "My self-worth doesn't come from like the dollar amount in my trading account," and "I've done a very poor job at journaling... more or less like how I'm feeling." On the QQQs, "it's been since basically early March was the last time the QQQs were at the 50 day." "I could definitely see us pulling back to... 3 48 even probably as low as like 340."
He's long Tesla and "didn't want to add on strength." "I have every intention to add versus The Gap fill basically at that at the 20 day," or "versus like the 218 to 222-ish area." "If price got under the... 200 day I'd... wash the trade." "Any any clothes like in the 250s the 260s I would be ecstatic and I would actually consider adding on strength." On Uber, "if I can get it anywhere near like 40... 40 41 I'll jump on it," and "at any point if I get a 20-day test I'll buy it." On the XLE, "the main candle that I'm watching... is basically March of 22," with "70 29" as the low that would put him in the bears' camp. "You're not gonna find me buying something below the 200-day moving average." On the IWM, "the 200 days 179.61." "I'm watching odfl and s-a-i-a," along with Uber and Celsius. What he doesn't like: "I'd probably just say gold."
Ben's setups, levels and trades
Ben said the QQQs were "down 1.37" last week and started this week down 1.16. "I posted the QQQs chart knocking right off that 1618 FIB the other day." Maxwell House at Charts for Charity has the S&P "somewhere around the four 4300 level," near the June 8 gap fill. "I personally believe we're in the shake and bake Camp." On Goldman's Tesla call, "here's a downgrade but we're gonna raise the price Target." "I went along Google this morning," "under 121," and "I really like Google here." "I kind of like it in that 116 117 area," and "I'll probably be a buyer around there again as my second tranche." "I took about a quarter of a position." He asked which of his big four to drop: "I still have a big stake in Microsoft my largest steak is Amazon and apple now I've added Google." "Apple and Microsoft are two of my oldest positions," so "my cost basis is stupid low on both of them." On the IWM, "Nick am I going to get my 179 back."
He "started a position on Friday Robin Hood," with "some shares" and "some about month out calls in the money." He's still "very long Sofi" but "selling calls," because "I don't think it's ready to set up to go back above 10 in the short term." The Dow Jones Transportation Average "looks ready to go," which fits "my bullish shake and bake theory."
GP's setups, levels and trades
GP recommended The Art of Execution by Lee Freeman-Shor. "If you're not willing to add when it's gotten cheaper then why are you still holding." Taking a loss is painful, but "it's really powerful to take losses," and "it frees you." "We've also not had the participation" in the QQQs' run, so "most of your stocks have sucked." "If we fill that Gap I think we go lower," and "I'm not as bullish as I've been." On Tesla, "the following week we're undercut and then reversed higher," just like Nvidia's March 6 week. "I don't do short-term" trades "on Tesla... I care about the bigger picture," and "third breakouts are fairly shallow... and Relentless to the upside." Google broke "straight through the flat weekly Cloud," and "I wouldn't be surprised for some monster breakouts on earnings" in Microsoft, Google and Amazon. "Having like a 200 move from the bottom is not a it's not a bubble it's an overvalued stock." Asked which of Ben's mega caps to drop, "I'd say apple," because "I find Tim Cook to be the risk of Apple."
On Uber, "I think 45 is going to be monster resistance," and "I hope it corrects through time because they're now finally profitable." BWXT has "four days to take out 70 to 18." On BOIL, "I traded boil from 270 to about 310 and then I got out because the reverse split was happening." "It cleared my 268 50 level," and natural gas could "Take Out 3 38." On crude, "once we break below this 64 something around there it's Katie bar the door," with a stair-step "into the 50s." XOM "has now rejected the 200-day ones to like 10 times now," and "it all looks like distribution." On 3M, his alert is "still... set at 90.29."
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