Daily Plan. 02.29.24
Hey, good morning, good morning, good morning.
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They're pissed off at SNOW 0.00%↑ because they didn't tell you the CEO was looking to leave at some point, and they guided down by, you know, from 28% growth to 22%. They said it was 28% year-over-year for the next five, six years, and now it's 22% with a new CEO.
Not so good, but you know, we've seen it because it kept getting there. We were sitting on the 250s, and they were sitting at 5, and even if it went up a dollar, it wouldn't go to 8. It wouldn't go to 8. So you look at it and you're like, why won't it go to 8 if the earnings are going to be good? So it didn't feel good about it, so we sold it and rolled. We're just profits. That's what we do, and that's how you become great.
That's how you become great. If you get out of things, you look at stuff. Doesn't matter what you believe. It just matters what is. It doesn't matter what you believe. It just matters what is.
So what happens now? So when you're sitting there and you're waiting for stuff to happen, right? You need action to meet what the market says. Okay, the action on NVDA 0.00%↑ now, it actually went positive here. It got another upgrade. So that's really good.
So remember, NVIDIA may do nothing till this March 17th and then it goes nuts again. Well, it did this for four or five weeks, right? So you just kind of just like wait it out. But you're not sitting there.
People, when it ran yesterday, 778 right here, everybody said, "Are you buying them?" I said, "No, because it hasn't proven to me it can get to 800 or get over." And same thing with SMCI 0.00%↑ . It hasn't proven it can move. So just wait and chill. Maybe it sits here and maybe he sold an option that was at 5 and went to 100 and he lost 95 points, the guy on the floor. So maybe he's going to sit there and say, "I'm going to take your 30 points, 150 points out of the money every week for the next 10 weeks." And he's going to get all his money back.
Okay, so that's why you got to chill and wait. Chill and wait. Chill and wait.
Okay, so the techs are not moving now.
META 0.00%↑ , if you had META, it had a shot. It ran right away yesterday. Couldn't get out even. You could have got out even if you wanted. And then we see…
Bitcoin. They're buying it, but it's very interesting. COIN 0.00%↑ , so Bitcoin goes up $6,000 and Coinbase can't get over $211. Okay, now people are not listening. The CEO said massive surge in volume. That means more profits for them. I understand it went down, but definitely more profits for them. Right? So if it can get through $211, it can really, really accelerate.
Okay, PCE. We want at 0.2. If it comes in at 0.3, probably still rally. If it comes in at 0.4, probably not.
VKTX 0.00%↑ did a secondary at 85, but Viking Therapeutics is all about what happens in the next five weeks. If they have a pill form, it's really going to take off.
SNOW 0.00%↑ , two theories on Snowflake. One is with the new CEO. They want to guide down so they can beat by huge, maybe, but maybe not. Okay. So SNOW is in a four to six week avoid range now.
CRM 0.00%↑ is positive. It was down and now it's positive. So I would think 311 comes on CRM and then goes lower.
Zscaler earnings today. If ZS 0.00%↑ guide down, PANW 0.00%↑ is going to get crushed. I don't know if they're going to guide down or not. Then we see, then we see.
But the theory is SMCI 0.00%↑ is deploying machines, AMZN 0.00%↑ Web Services, META 0.00%↑ , everybody else is putting them in. And the growth in SNOW 0.00%↑ isn't insane. And it should be insane. That means something's not right. When something's not right, it's okay. You just relax and let it be and you move on.
What else we got? I think that's about it for today. Maybe you have a nothing day, but think about it. We caught MicroStrategy and we sold them. Well, we banked 3X, right?
And the SNOW, we bought and we sold. So bought net even on that, actually up just a little bit. And that's what you got.
So today, if the PCE is at 0.2, they're going to buy techs. If it's not at 0.2, if it's at 0.4, they're not going to buy QQQ 0.00%↑ . Okay. And maybe you have a week or two weeks of nothing.
The other one you want to keep an eye on, if it's at 0.2, watch Carvana. Okay. And I'm not a big CVNA 0.00%↑ fan, but I'm just telling you, if the interest rates go down, people will say, "Oh my God, they're going to buy houses, they're going to buy cars, and everything else." Okay. So just keep an eye on that.
What else? LLY 0.00%↑ , if VKTX in five weeks comes out and tells you they have a pill form, Lilly can really drop, drop 100 really, really fast.
Bitcoin over 64,6000 is 69K. Jesus, at 69K.
So let's do some fast math here. We got two minutes. You have 193,000 Bitcoin on Coinbase. So 193,000 Bitcoin they own. Times it by $100,000 a coin. If it goes to $100,000, that gives you 19.3 billion. 19.3 billion valuation. Well, MSTR 0.00%↑ is worth, let's say, 12 billion. Okay. So at 12 billion, it goes up to 19 billion. So that's 7 billion. If you half the 12 billion, the MicroStrategy is worth. This is how you do fast math. This is how Banana does this really fast in his head. So half of MicroStrategy is 6 billion. You're going to add 6 billion. 6 + 12 is 18 billion. But you say, if it goes to 100,000, it's worth 19 billion. Right. So just add 500 bucks to MicroStrategy and you're at about 1500-1600. If it were to get to $100,000 or higher.
So just fast math, just fuzzy math. Nobody's saying it's going to happen. But when you're looking at things for it to happen, because what happens if 69,000 just busts and you get a rally that you haven't seen in your lifetime in Bitcoin?
Here we go. Core PCE.
NVIDIA is taking off this PCE has to be good. Nvidia just popped four. Did he just say 1%? hold on a second guys…
You know, this Santelli guy, he's an idiot. Complete... Everybody in the world is looking for the PCE. He's like reading off a piece of paper. "EXC, income jump 1%..." Two tenths... No, that's real spending. What the hell is this guy doing? UH… Hold up. Let me get to the chat room. See if somebody's posting it in there. Uh... How do we... How did we not report this yet? Is this crazy? People are saying 0.4%. Core Prices 2.8. Well, 2.8 is good. As expected.
Okay. But look at Nvidia. NVDA 0.00%↑ just jumped 10. Nvidia just... Just jumped 10. Snow just... I mean, SMCI just jumped 15. They like this. This is good.
Let's see what happens. Do we get a big jump? Santelli is an idiot. And just a complete... I mean, just... You know, it is what it is. Okay. Uh, so Snowflake is in avoid. Nvidia is going.
If Nvidia gets over 800, look out. We can bust a move. Okay. That's what we know. That's what we know. Somebody saying here, PANW 0.00%↑ sued for security's law violation. What does that mean? Don't know. Don't know. They're saying 3 PCE. This is crazy. Everybody's sending me different stuff.
Very nice. Okay.
But what we know is Nvidia took off. SMCI took off. Uh, this Bitcoin should really go if it's actually that low. Let me go look at Bitcoin price. What did it do? Uh, $62,200. But I'm delayed. Okay. Interesting. Okay. So that's what we know. That's what we know. That's what we know.
SPX. Can it get over 5100? If it can get over 5100, go 5109, 5121, 5152.
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