Daily Plan 02.28.24
Bitcoin flying! How about MSTR 0.00%↑ , $9 to $170? It's going to keep going, let me tell you. $62,000 can come, that takes COIN 0.00%↑ up to 230, that takes those 220s to $10, and then we see if it breaks $69,000.
If the PCE is at 0.2, very possible, Bitcoin is through $62,000. Okay, so just know that.
They're selling techs. Doesn't matter if they should be or not. Doesn't matter. They're selling NVDA 0.00%↑ ; they're selling SMCI 0.00%↑ ; they're selling QQQ 0.00%↑ .
Now what we did, we banked that 3X trade, so we're fine. Everything is fine.
Okay, so you just chill and wait, chill and wait, chill and wait.
You have CRM 0.00%↑ ; it was up to 306 last night. It's back to 301. So that looks good. Does SPX reverse? Let's see what happens there. Nvidia hit 771-772 yesterday, and it moved 20. Okay, but you need Nvidia to get through 800 again.
Just wait, maybe it takes two weeks, maybe it takes four weeks. Don't know.
VKTX 0.00%↑ , let's talk about Viking Therapeutics. So, I couldn't buy them yesterday. Fidelity wasn't showing them; they show up today. So let's see. Their data is better than LLY 0.00%↑ . Now, let's take a look at Eli Lilly and see this is logic. Okay, so Lilly was down 18. Cramer comes out, "Oh, Lily has this in control." But why would Lily look to buy them? Why are you going to buy somebody if your product is better? You don't do that, right? You don't. Don't do that. I mean, there's no reason for TSLA 0.00%↑ to go buy F 0.00%↑ . It doesn't make any sense. Right?
Bitcoin $60,000. Did it just hit 60k? What? Hold on, hold on. Hold on. 60k.
Holy moly, come on, COIN 0.00%↑ , baby!
Okay, anyway, you wouldn't do that. So, Lily made an offer at 48-40/50, and now I know a lot of stuff, but I don't know this. I put in some calls; nobody returned my calls. So, if you're trying to buy somebody, if Lily is trying to buy them, do they get access to their data? Did they see the data? Do they know it's better than their own? They may not have known that. If they don't know that, okay, I understand the 50k or the 5 billion price tag or whatever, $50 a share. But if not, if they've seen the data and didn't do it, then you have to say, "Is their data better, and they didn't want it?" So, got to figure that out.
Now here's the kicker on this VKTX. The guy on TV said this, and I don't know if it's true. Remember, I don't trust what anybody says. People just make stuff up.
He said the pill form trial results are in 30 days. So within 30 days, you can probably use April 15th. If the pill form trial for VKTX is the same thing, 150 to 200, if the trial results come out and they're good, I don't know if it's going to be. If it's not as good, does it drop all the way back down to 50? So just know that that's out there. Very, very interesting.
CVNA 0.00%↑ made a run. It always drops back down again. Okay, let's see what happens. It may run. Look, when they're buying shit stocks, BYND 0.00%↑ is the ultimate garbage stock. I told people this. People were like, "Oh my God, everybody's going to buy this at 200." I said, "No, it's going to go to crap. It's going sub-10." And it did. Okay, it's not hard to see any of this stuff. People have been eating meat for a million years. I mean, they're not going to just freaking eat this. Okay, it just doesn't happen. So you can think so, and you may love it and everything else. That's fine, but that's not the world.
Okay, so that's what we know.
Look at this Bitcoin go. Holy moly, freaking 60,300. Man, oh man. Can this Coinbase hit 220-230? Very nice. Keep an eye on it.
Okay, so today you have SNOW 0.00%↑ earnings and you have Salesforce earnings. CRM will move. Now, if CRM goes 319, possible. If Snowflake goes 260, 270.
Now, let's talk about the Snowman.
So here's the events:
SMCI told you they're getting a ton of chips from Nvidia, and they're building all these computers. Revenue from 8 billion to 20 billion coming.
ASML 0.00%↑ said more orders, three billion, I mean, two billion to eight billion. Six billion more in orders.
NVIDIA said everybody's buying. It's going nuts.
LRCX 0.00%↑ and AMAT 0.00%↑ said great stuff.
All this stuff you need to make SMCI machines. So now, who is buying these machines? Is it AMZN 0.00%↑ ? Is it MSFT 0.00%↑ Azure? GOOGL 0.00%↑ ? META 0.00%↑ , etc., etc.?
Okay, so to use those machines, the best way to use them is with SNOW and cloud.
Okay? It lets you put data and parse it every different way. It's not just 2D, 3D. It's 10D. Okay, so that's Snowflake.
But here's the kicker.
Either way, so maybe those things didn't get deployed this quarter. They got deployed late in the quarter, and SNOW numbers won't be that good. Very possible. But that means they would have got deployed at some point. That means the guide would have to be very good, right? In theory. So, in theory, the guide is very good. I don't know if the data is going to be that good. It should be, but you never know. And then we see.
So maybe it goes down; maybe it goes up. Don't know, don't know. But it looks pretty good. If it pops, we'll probably sell some of it and roll up, make it a free trade, again. That's what we do.
Okay, META trying to break out. Got right near 480. If it can get through 488 early, it can really spike.
But right now, it doesn't matter what you believe. It doesn't matter how good Nvidia is. It doesn't matter. They're selling techs right now. They're selling techs. There's nothing else to say.
FSLR 0.00%↑ is up. They didn't guide up; they didn't do anything. They just reaffirmed, but their PE is low, so it's up. Okay, that's how it works. That's how this stuff works. Looks like it wants 200.
ZS 0.00%↑ starting lower. Look, told you they're starting a price war. They own a home, new platform, and it drops a 100, and then people buy because Pelosi bought it. Well, what if Pelosi loses money for six months and then starts making money afterward? Okay, this is why people lose money.
Okay, the CEO tells you there's a problem, and Pelosi bought it before that. That doesn't mean it doesn't go up in three months. There's nothing to say that Nvidia doesn't hit 750, 740, and then go to 1000 in six months.
Okay, so that's PANW. That's why we bought the PANW's because if PANW takes out 300 today, tomorrow, if it craters on Zscaler earnings, then it's probably back to 260. We make 30 bucks.
Okay, but here's the thing. And we waited a long time to buy them because I didn't want to buy them, and then, you know, I was just waiting, waiting, waiting because if SNOW and CRM are good, you're going to get techs to go back up. That means PANW will go back up. Okay, and then you have to wait into the earnings.
Okay, so just keep an eye on that. That's what's going on. So that's what's going on in the market today. That's what we know. That's what we know. That's what we know.
Okay, MicroStrategy is going to hit ATH. This is unbelievable. I had 500 of them. I mean, I had 50 of them. So it would have been a million. Oh well. Anyway, that's what we know. That's what we know.
Okay, let's get started.
SPX was down like 15, somewhere in the 15 range. It looks like this to me for tomorrow's PCE looks exactly like the Nvidia thing. They sold Nvidia into earnings from all the way down to 666. Oh, it's crap. Nothing's going to happen. And then SPX went up 80. So it looks the same to me. Okay, then we see. So SPX, you got 5052, 5109, 5122, 5172 up.
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