Daily Plan 01.23.24
Good morning traders-
Another great start to the week. Very nice, very nice. But we need to talk, and you know I pound this over and over again every day. I try to pound this message. It's sad just one message yesterday. I mean everybody did is doing really good, but there's some people that you just know they're screwing up because of what they post.
So, SNOW 0.00%↑ goes from $1 to $5. The next one goes from .50 cents to $3. Okay, $1-$5. ADBE 0.00%↑ doubles. Okay, NVDA 0.00%↑ flying, LRCX 0.00%↑ flying. Everything, MSFT 0.00%↑ flying. Every single position is up, and they're not up a little, they're up a lot.
And then things reverse again and they start going down. And we had another good day. Did you not sell anything? I mean, think about it. If you had SMCI 0.00%↑ with us at the 380s that we bought last week for this week. No, we sold them. $4 went to $8, right? So we sold them, made 40 grand. Yesterday, they went to $115. SMCI 0.00%↑ went to 482, and then it dropped 55 points in five to 10 minutes.
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I keep telling you guys, at any particular point, anything can drop way down. You have to sell. You have to roll. Or if you want to hold it, don't bitch. If you're a bitcher and a whiner, then you know when that ends for you, it ends bad. You get smoked like Sam did in 2001, and then you don't do it again. You say, you know, it's my fault. I screwed it up.
I mean, think about it. If you didn't sell SMCI 0.00%↑, and let me tell you, you probably couldn't have even sold it when it got to 460 because it went from 460 to 480 in less than a minute. It moved that fast. So you couldn't have, you were going to get $20 more dollars than you thought. How can you not sell it? How can you not sell SNOW 0.00%↑? Sam didn't sell SNOW 0.00%↑. Well, wait a second, Sam. Why are you telling us? But did Sam whine? Sam said it's a good day. It's a good day! Because even though it went down, Snowflake still closed at $3.50 from $1. To $3.50. The next one's 50 cents to $3. Count is way up. How's it a bad day? How's it a bad day?
If you want to become great, I'm telling you, if you make a negative comment, it's in your subconscious, and you're going to do something dumb.
If you're going to say, 'Oh, SNOW 0.00%↑ can't get through 203.' Okay, maybe it does, maybe it doesn't, maybe you're right. But as soon as it gets near it, you're going to sell it. And if it goes to 222, you're going to say you screwed up.
So I'm telling you, you go to Zuckerberg, you get Zuckerberg, you get Ackman, you go get Gates, get Bomber, get anybody you want into a room. All these guys, get every billionaire in the room. And if you're the one negative guy that's a billionaire, they're going to boot you out. Or when you leave, they're going to say, 'This is one of the dumbest guys I've ever seen in my life.' Then they're going to say, 'We hope he crashes.'
The top end of the people in the world, the real top end, the top 5% of the people in the world, they hate the same thing Sam hates. They hate stupid, and they hate negative. There's no place for negative with winners. There just isn't. They all know that you can't win if all you do is whine.
If you don't learn, and I understand what some of you guys are saying. They're saying, 'Well, I sold my SMCI 0.00%↑ from $4 to $8, Sam, and it went to $40.' Okay, so why didn't you sell half of them, or why didn't you sell one of them? Why don't you try and change how you do stuff? Or you're just happy and say, 'Hey, I made 40K, and I had the 375s, and they ended up at $30.' That was Zero. How about that lesson of expect zero? Why are you selling something at 2 cents or 5 cents? Think about that. I told you that happened to me way back in '92, and never did it again.
We sold AMD 0.00%↑ for next week. We sold those 185s or 180s for earnings that we bought for earnings, and we took $47,000, and we took most of that, and we put it back. So if it goes to zero, we're even. No, actually, we're up a little bit. That's it. Doesn't matter. You have to decide how you want to play. If you want to roll up with all of it, roll up with some of it, or sell half of it, and you have to figure out what is right for you. It took me a long time to figure that out, but I know what's right for me.
NFLX 0.00%↑ is moving. It just started to go. They have earnings today.
But NOW 0.00%↑ has earnings, and they got a $900 target yesterday, and they had an $865 target yesterday.
But CRM 0.00%↑ got a $350 target. ServiceNow is ridiculous. The $800s are six bucks. That's 50 points. I mean, it can move 50, but it's hard. It's a hard trade. So probably better if you like NOW 0.00%↑ to play CRM 0.00%↑.
Okay, so that's what we know.
Look, the market's not going way lower. Maybe it goes down 50 points. It's not going way lower. Everything is getting better. Brokerages and everybody are starting to say things that are way better. And then you got these one-offs that tell you to cut AMD 0.00%↑ and cut NVDA 0.00%↑.
But let me tell you, I don't care what an analyst says. Get them on TV with me, and I can make them cry and whine because I'd be like, will you come up with this? If SMCI 0.00%↑ is making more computers, they have to have more AI chips. Who has those chips? Which one sold it to them? You have to give me that answer. When you give me that answer, then I'll tell you what AMD 0.00%↑ and NVDA 0.00%↑ can do.
Okay, here comes SNOW 0.00%↑ starting to move. Let's go. If it gets through 203, this thing can be 208-209. Okay, maybe it fails. Now somebody sent me a message last night on public Twitter. Said, 'Why you buying SNOW 0.00%↑?' And I'm like, we hadn't played it for 7 weeks. So they said, 'Why you love SNOW 0.00%↑?' Hadn't played it for 7 weeks. Sam watches 100 plus stocks, and he sees, well, this one's not moving, and this one didn't move, and this one didn't move, and this one didn't move. 4 weeks, 5 weeks, 6 weeks, 7 weeks.
Oh, but SMCI 0.00%↑ says good stuff. That means NVDA 0.00%↑ has to be good. That means AMD 0.00%↑ has to be good. That means clouds have to be good. Oh, which one hasn't moved? SNOW 0.00%↑. It has to catch up. Oh, it catches up in one day. Logic, simple logic.
Bitcoin going lower. COIN 0.00%↑ about to collapse and go to shit, because it should. It's worth less than $50 . All the people that got smoked in this thing because they're biased. Let me tell you, and you can do this test. Once you make a million dollars, go wire it somewhere. And if it's not there in 10 minutes, you start freaking out. Not an hour, 10 minutes. That's your money. If all you have in life is say a million one, and you go wire it to Fidelity, and they don't, Fidelity puts in your account in less than a minute. TD Ameritrade takes a day. You send money, a million dollars, to TD Ameritrade. You're going to call them five times about that. 'Where's my money? I have okay.' So just understand that. Go send your money to COIN 0.00%↑, and then you see there's not a phone number, and then you see they don't respond to you. They don't answer the phone. Or they, let me tell you, one of the worst things in the world, 'Leave your phone number, we'll call you back,' and they don't call back.
Wow, you have a million dollars floating around there. People have lost their money. I mean, that's bad business. Would you do business with that? If you went to chase, you deposited a million dollars. It's not there. What are you going to do? You're going to freak to start with. So how do you send money? I'm going to give you a tip, guys. How do you send money, even if you Zelle somebody money? How do you Zelle somebody money? Here's a quiz. Come on, what's the first thing you do? Somebody's smart. What do you do? Say you're going to Zelle somebody. You know, $500. What do you do? First, send a buck. There you go. Beautiful. I send a wire for $5. If the wire's there, and it takes two days to put in, there's no way I'm sending a million dollars. COIN 0.00%↑ doesn't put your money in the account. It's insane. It's insane, guys.
So I knew when COIN 0.00%↑ was going up, it was going to come down. And then people telling me, 'Oh, they're making money because they're going to administer some accounts.' Who the hell cares? Everybody gives you free accounts. Where do they make it? They're going to make money off your money. But it's this crypto. What are they going to do? They're going to go buy some crypto in a private account, use your money. Oh, that's what FTX did. There's no money to be made on COIN 0.00%↑.
Now watch, your call doesn't matter. But the logic is real. And to become a great trader, you have to understand logic, and you have to trade.
ADBE 0.00%↑, I had 621 is the number. It got to 621, and it dropped 18. Now, Adobe is ready. When it goes? I don't know. And then we see.
But the next big event is tomorrow. It's Lam Research.
If LRCX 0.00%↑ guides way up and says chips are great, all the chips are going to go.
Today, you got an NVDA 0.00%↑ upgrade, 775.
And you got an AMD 0.00%↑ upgrade of 190.
If those don't go down, things are a little bit different. Maybe they go down for two or three days or a week, and then they go back up. And that's what we know. That's what we know.
Let's get started.
GM. Good morning, everybody. 1/23
Stocks go up, stocks go down.
SPX was up four, I believe. Let me look. Come on, CNBC moves and changes their thing, and then they don't show information. People are amazing. You know the funniest part of customer-friendly and stuff is when you change things up, you're supposed to make it easier. Do they not do surveys? There it goes. Says 0.14, whatever that is. It's up a dollar or two. Interesting.
DAILY OPTIONS TRADING BULL/BEAR PIVOT POINTS
NOW 0.00%↑ got another upgrade to 870.
Wow, LLY 0.00%↑ upgraded to 680.
LRCX 0.00%↑, 830 upgrade.
Okay, SPX, 4872. Can really explode it up. 4800 break would take it down.
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