Chapters
00:00 Intro
01:07 GP: Not as Frothy as People Think
02:38 Ben: The Tesla Short
03:08 Ben: Rivian Over Tesla
03:39 Nick: The QQQs Found Their Range
05:10 Nick: Pick Your Names and Stick With Them
06:10 GP: PayPal and Square Lack Accumulation
08:45 Nick: Square's Levels
10:17 Ben: Robinhood and SoFi
11:18 Nick: JPMorgan, Visa and MasterCard
12:21 GP: Home Depot, FedEx and Coinbase LEAPS
15:23 The Bitcoin Miners
17:59 GP: Buy Strength, Not Weakness
19:31 Ben: Bitcoin to 40,000
20:02 GP: Not Altcoin Season Yet
21:04 GP: MicroStrategy vs. the Miners
22:35 Ben: Cookie's Altcoins and Bags Brothers Capital
24:42 GP: Energy Isn't a Bullish Setup
26:14 Nick: Covering Shorts Into 70
28:49 On Holding
29:19 GP: Ford's Head and Shoulders
31:52 Nick: Gold and the Miners
33:52 GP: Tesla's Wave 3 Targets
35:29 Nick: Tesla's Measured Move
36:30 Ben: Tesla's Opening Range Breakout
38:00 Nick: The First 60-Minute Range
39:33 Ben: The XBI and LABU
40:34 GP: Roblox Has to Prove Itself
41:34 Nick: Roblox's Trend Line
43:38 Shopify
44:08 GP: 3M
44:39 Ben: Missing Datadog
46:10 GP: First Solar
47:46 GP: Vroom
48:19 Nick: Uber Above 34
48:49 GP: Time vs. Price
50:23 Crispr
52:31 GP: Intel Calls
53:01 Salesforce
55:03 Con Edison
56:36 Ben: HubSpot and Asana
57:07 Nick: What He Likes
58:09 GP: PATH, Verizon, Netflix and Rivian
1:02:17 Ben: Freshworks and Disney
1:02:48 Ben: Not Crazy About the Banks
1:03:19 Wrap-Up
Market Hours #74 went out live on the evening of Monday, July 3, the Fourth of July eve, with Ben, Nick and GP. After Tesla's delivery numbers, GP said the market isn't as frothy as people think, and Ben walked through his Tesla opening-range trade. Nick thinks the QQQs have found their range. The hosts went through PayPal and Square, the Bitcoin miners and Cookie's altcoins, set Tesla's wave 3 targets, and finished with their favorite setups.
Nick's setups, levels and trades
Nick said "the next pivot is like basically what that 372 on the QQQs but we held the 20-day and we kind of put in that low at like 357." "I'm kind of in the camp that we've found our range." His advice: "pick your names and stick with them," because "the overwhelming majority of these kind of morning sellouts are getting bought up." "Stick with your names write your winners and let your losers go." PayPal "kind of looked cup and handle-ish" on the daily. If Square rallied "to take out like that 70 and kind of push into the high 80s," then "we're more inclined to buy the strength like the breakout through 90." "I actually like the setups on JPMorgan visa and MasterCard," but Goldman is "sitting under its 200-day which is pretty much like a no for me." In the miner game, "I'm gonna go with riot." On the XLE, "it's range bound until it's not," and "if I happen to have any shorts on I would definitely be covering into 70."
"My miners don't look too bad," and "I kind of like fnv." On Tesla, "the volume today didn't confirm a breakout over the B point for me which was... that pivot high of 276," though it was a half day. "I have a measured move at 385," but "I think it's going to have to work its way up to like this area here like this 310," and "once it gets above there then 340 360s quick fast in a hurry probably." He pointed to Michael Parness's approach: "you just wait for the first 60 Minute range to get put in." On Roblox, "now we're kind of moving to the trend lines where it kind of feels like it should be kind of tightening up." On Uber, "I'd be long... anything over 34." "I like plaque and lrcx," along with Broadcom, Visa and JPMorgan, and "I love Google I think Google looks great here." "Shop is probably... my focus setup," and "I like air ABNB too." What he doesn't like is "basically anything commodity."
Ben's setups, levels and trades
Ben said Tesla "was a juicy short for me today that I made 15 off of." Tesla had a strong report, but "to me ravian probably outperforms Tesla over the next five years." On Robinhood, "thankfully I didn't get called out of so far last week." "Bitcoin is going to forty thousand dollars quick fast in a hurry I've been saying this for the last few weeks." He asked Cookie about altcoins over the weekend: "cookie said vert coin... avax... AXS Solana and Shiba Inu." He has "a large position in avax" for Bags Brothers Capital, which holds "Avalanche the graph... Ave compound and Bitcoin ethereum and polka dot."
He explained Monday's Tesla trade: "one thing that I've been doing is marking like the 15 minutes the first five minutes of the market to set like a range." "It blew through and once it came down and tested I took the trade," and "this is the strategy is called the opening range breakout." On the XBI, "I want to buy some more laboo since I sold a large steak... in the first bit of June," and "I'd like to see an 80 tests." "If it falls out of 75 it's kaputsky." On Datadog, "I need to go buy some data dog at near the lows," and "I'm gonna miss it." "I freaking love all the expensive names," including Asana. "I like Google too I went really big on it last week." "I like fresh works a lot," and "I like the action in Mickey." He's "not crazy about the banks right now," and "I was viewing this as more of a stop out on the 50" on the XLF.
GP's setups, levels and trades
GP said "I think we're short-term overbought but that can be handled through time." Tesla's drop from 277 to 238 was "a 15 correction in three days," and "to me that's not frothy." On earnings, the question is whether Tesla's numbers came "via margin compression." PayPal and Square "don't look like they're being bought," and "there is to me a very big lack of accumulation in these charts at these levels." "Cup and handles are part of a larger uptrend." Home Depot "stands out to me because look at those Wicks off the bottom." On Coinbase, "one of the first things I did was buy 20 25 leaps," "January 20 25 60 leaps." In the miner game, "it's either hot or Mara," because "you Gotta Buy strength in this market not weakness." "It is not altcoin season yet," and "I think some of the more pure minor names will benefit a lot more" than MicroStrategy.
On energy, "this is not the most bullish setup you're gonna see," and "we've targeted 70 on XLE." Ford shows "a head and shoulders and a throwback," which is invalidated above "1668... on a weekly close." "If I'm buying something in the teens it's rivian." On Tesla's wave 3, "the 161 Target is 339 340... the 261 Target is 455." Roblox "gets to this point and immediately gets sold off," because "these are IPOs this is what IPOs do." On 3M, "the Mars Still Remains 90 29." On First Solar, "it's got to reclaim 196 197 for further upside," and "I still like the 142 kind of level." Uber "actually went profitable," so "I'd lean towards price time correction versus price correction." "I actually just added some calls a few weeks out today" on Intel. If a stock pays "less than what treasuries are paying I'm not sure why you're in those stocks."
His laggard pick is PATH: "if it clears I would say 18 -ish... you're in a good position to stay long." He has been adding Verizon "at the bottom of like a 20-year range." Netflix "has the ability to fill that gap finally there's literally no volume above 458." "Costco looks phenomenal," and "I was buying in the 14" on Rivian. He still avoids China names: "there's so many better trades out there that it's just not worth the headache."
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