Daily Plan 01.08.24
Good morning, good morning, good morning.
Stocks go up, stocks go down.
I'm in Houston for the Michigan game.
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How about the Cowboy game? And BA 0.00%↑ gonna collapse, but maybe not so bad because it's only a part of their production, but it's already down a lot. So, BA 0.00%↑ when this happened last time, it imploded, but then it came back a little bit for about a week and then it imploded again. So just understand that that's probably where we are again.
But here's the thing that they're saying, this is just a plug. Why did they do that? Why did they make a design like that? Doesn't make any sense to me. This is what BA 0.00%↑ does. You take something that perfectly works, I mean, car companies do this BS too, something that works perfectly well, and let's go change it. For a reason you haven't addressed that much. And now you have a problem. And how big is a problem? Don't know. Just gotta see.
NVDA 0.00%↑ , I believe that conference is today. Can somebody confirm that? Is that conference today or is it tomorrow? Not positive, so need to figure that one out.
What else? We will be trading most of the day. Don't think I actually flew yesterday, so I don't need to leave here. Okay, so, but may leave a little bit early for the Michigan game for a tailgate. Okay, so don't know. Don't have a lot of stuff coming in. NVDA 0.00%↑ looks like it wants to test 503. Does it test?
You got a hit piece out there on, oh, China's not going to buy as many.
You know, people just make this stuff up. They don't know anything. I'm telling you. Also, gonna have DAN IVES in the room coming up here pretty soon. So he's going to come in for a little while. Interesting, right? You guys can ask him questions. So interesting, interesting, interesting. So that's what we know. That's what we know.
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COIN 0.00%↑ and MSTR 0.00%↑ ETF, does it come Wednesday? How come MicroStrategy only up 10? If you think this is going to get approved? Why isn't it up 100? But here's the thing, I get this feeling if all this stuff is not going to go off on the ETF, even though they say they're going to buy all this stuff, I got a feeling it's not gonna go, yes. So, yeah. So the 10th, that is Wednesday. So does it get approved on the 10th? If it doesn't, how far down do we go?
So then the other story that's important today is there's a rumor that the Fed may slow down QT. That's quantitative tightening. That is a means of lower rates. Okay. So just understand that if they do that, then we fly.
Look at SMCI 0.00%↑ trying to go. NVDA 0.00%↑ trying to go. LLY 0.00%↑ , if it gets through 636, it can go. We bought and sold those very, very nicely. And here, here's the thing. So some of the newer people want to explain this to you. Just because Sam is Sam doesn't mean you can come in here with five grand, ten grand, twenty grand and do one trade or two trades and think you're going to hit everything. Doesn't work. That my video is very, very, very clear. If you don't understand it, that means either watch it ten more times or you have a problem. Okay. It's very clear.
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Build your account, then play with profit and then take shots. People come in with ten grand and they do one shot. I mean, I had a guy last week and I don't know if that's all he had, but he said, "Sam, I loaded LLY 0.00%↑ . I've been waiting for it." Okay. He loaded the LLY 0.00%↑ 620 and they went 1-16. And he told me, he goes, "Friday goes, Sam, I screwed up. I didn't sell it." You didn't sell it 1-16. You didn't sell it. He goes, "I really loaded up. I put my whole account in it." I said, "But you're account 15x." Yeah, but I wanted to make a million. He didn't sell it.
If you bought a hundred contracts, they went to 160K. If you don't sell it, whose fault is this, guys? Come on. Well, Sam, you said it's going to go. If it goes over 603, so that doesn't mean it goes right to 800. I mean, what's going on? Okay. Don't screw this up. So, I lecture the hell out of it. You know, I mean, just really. I mean, you just think. So now you know if NVDA 0.00%↑ takes out 503, it's going to rocket. Doesn't mean it goes to 522 and doesn't go back to 480, right? If it breaks 522, goes to 550. And if you hold it and you don't sell it, this is why you sell and roll. This is not complex. Okay?
But here's the thing. Greed will get you. Right? If you get wiped, too bad. Don't do it. Don't put in more than you're willing to lose. Nobody tells you this. I tell you this.
UNH 0.00%↑ . Did you see Bitcoin ETF has been disclosed as the next step to approval? Who knows? Doesn't matter. MSTR 0.00%↑ Premium is huge, but I got a feeling it's not going to go as far as we thought. I initially thought it would go way, way, way higher. I get a feeling it's not. Not sure, but there's the thing that when a trade goes bananas, people don't sell. Now, I take and chill. Nice. We don't disclose names. So, okay. But everything you do and everybody else does, it's important. Right? It's important because then we all get better. We all get better.
And look, I did what you guys did when I used to take 5k-100k going to a million. I'm not selling. And then it goes to zero. Okay. I mean, I just don't understand how you can buy the 620s in LLY 0.00%↑ , go 1-16 and you don't sell. You don't even sell it at double when it comes down. I just don't understand that one. Okay. Interesting. Interesting. Okay. So that's what we know.
SPX just basically doing nothing. 4721, 4721. Okay on the downside and 4662 is a number.
AVGO 0.00%↑ , this thing's down 80 points. Down 80 points, probably go down more. Okay. You got 1021, down 1122 up.
NVDA 0.00%↑ , you got 503, 509, 516, 522. Look, guys, there are people and there are copycats out there that just take numbers and they add a couple points and then go give it to their people. They're just lowlife magotts. Okay. Just understand it. Don't follow these people. They don't know anything. They don't even know where 522 came from. Where did 522 come from? It was the after hours high. How is that not relevant? It doesn't show up on any chart. It's absolutely relevant. Okay. Very, very straightforward. Underneath, 481 now.
There's another article out there says China is not going to order as much of these secondary chips. The chips that, uh, uh, the cheaper version, you know, less speed and all that stuff. Who knows? Maybe, maybe not. Don't know. Don't know. Don't know.
ADBE 0.00%↑ . Look at Adobe go lower. Adobe around 530 gets very, very interesting.
LRCX 0.00%↑ , 772. If you like Nvidia, got to like Lam research.
SNOW 0.00%↑ , nice move Friday. 191 up, 182 down.
AMD 0.00%↑ , 142, 149. Underneath 136.
MSTR 0.00%↑ , no idea. COIN 0.00%↑ , no idea. They're both going to go off of Bitcoin. But, uh, here's the thing. Coinbase doesn't make any more money. There, there make a little bit of money, maybe 10%. Like really, I mean, if you had a chance in life and GOOGL 0.00%↑ said, "We're going to give all you all of our employees for 1K," come and, you know, 401K, they'll be self-directed. But, uh, these guys, can you, you get to administer. Does a great company do that? No, they don't want that money. 0.025. They're, they said, "I want to do something better." Okay. So, just understand that.
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