Weekly Plan 06.10.24

Good morning, good morning.

Stocks go up, stocks go down.

Amazing week last week. How much fun was that? Just unreal, just unreal, way, way up. Unbelievable. When you have an insane day, you chill. You don't force trades, you take some shots, but you don't force trades. Okay, GME 0.00%↑ , where does it go? Don't know. People are saying that Ryan Cohen's going to talk today. I don't know if that's real. We'll see.

Levels were shared in the newsletter as well as in our daily chat below. Join us in the substack chat or on SLACK and trade with us!

Okay, trading today. SPX, it's down a little bit, it's in no man's land. The NVDA 0.00%↑ Nvidia split is gonna screw up the market. It's going to screw up the market, guys, I'm telling you. Don't, don't get stupid, don't get silly, don't think you know because you just don't. Okay? And let me tell you, I used to think I knew everything years ago, and I got dumb. Okay, when you get a split like this, it's effectively one of the dumbest things a company can do. They do it for different reasons.

Jeff Bezos did AMZN 0.00%↑ Amazon at 20 to 1 for two different reasons. One, he wanted to sell stock, and if he sells his stock, millions of shares at $3,000, it's going to go down $100. If he sells it when it's 20 to 1 split and it's trading at $200 or $150, it only goes down—I understand 100 points is the same—okay, but instead of going down 100 points, it goes down five and nobody freaks out. So now, Jensen Huang, he's not telling you this, but I just know people, I know companies and how they think.

Okay, Jensen Huang will start selling some shares and it'll go down a dollar, but that dollar is $10. If it would have gone down $10, if he was selling stock, it would have gone down 50. So this gives opportunity for these guys to get out and that's why they do it. And this is not about "Oh, let other people come in and buy it cheaper." That's all, that's all. Okay, because you can buy part shares right now, so it's all complete.

Okay, I'm just telling you. And Nvidia, he's going to misprice every option but they're going to be unplayable because he's going to charge you more. Okay, I mean 50 points out of the money last week, we bought the 1050s, 50 points out of the money on a Friday at $10. So that should be a dollar, so five points out of the money should be a dollar, he's going to charge you $1.50. And then when it goes up, he's going to give you $2, so you're going to make 50 cents versus making a dollar. And if it goes down at all, he's going to take it to .05 cents. Okay, the odds that Nvidia will ever even move eight points, only on earnings days that's 80 points. It's not going to move 10 points a day.

Some guy sent me a thing, it's going to go to 200 or 300. At 300, it's at 120, this is a $9 trillion company. Zero chance, zero chance. Actually, I'm going to give you a better word: less than zero it goes to 300. Less than zero. That would be $9 trillion. Okay, so get smarter. Okay, don't just throw out stuff like that because you think you know stuff. That's what aggravates me on Twitter when people do this. They just make up, "Oh, it's going to 500." 500 would be 3 * 5 is $15 trillion. No, zero chance. Okay, so understand that, but it's going to make it very hard to trade options.

And let me tell you, things that Nvidia used to do when it would move 20 or 30, the whole market would look great. Now it's going to move a dollar. A dollar is going to be 10 points and the market's not going to look so good. So if you go back and go study GOOGL 0.00%↑ Google and Amazon, it's been three years and they don't move. They're unplayable. They're not even on my screen. CMG 0.00%↑ is going to be a 50 to 1. Think about Chipotle Mexican Grill. Somebody's telling me CMG is going to have a great earnings report. A great earnings report moves it 200 points. That's $4. It's going to move $4. How the hell are you going to make money if it moves $4? You're not. It's off the screen, never to be played again.

I think AVGO 0.00%↑ split is coming next. Broadcom got a huge upgrade today. It looks like it wants to rip. But here's the thing, I sure hope they do a 2:1, maybe a 3:1. Don't do a 10 or 20:1, then they'll kill that stock too. They're just killing every stock. Okay, so understand that.

ASML 0.00%↑ , way down. ASML, way down. Okay, interesting. Interesting. If it gets back to about a thousand, we're going to go back and buy it again. Let it go down, something to keep an eye on. This is why everybody subscribes. ASML, the last time it hit a high, it hit like 1056 and it dropped all the way to 828. But not only that, when it hit 1056, it didn't even stay near that. It immediately dropped and didn't go up again for eight weeks. Now that's not going to happen this time because they're going to have earnings before the eight weeks and maybe it goes up, maybe it goes down. Don't know. But it hit 1050 and it's down 20 points, 30 points again. So when these things are hitting new highs, they're not hitting new highs another week later. They're coming down. So just understand that. Okay, understand that. That's trading.

Bitcoin. Bitcoin needs to get to $72K and $78K. Then we see, then we see, then we see.

COIN 0.00%↑ needs to get through 266. It got near 261, it dropped 18. These numbers are beast numbers for a reason.

SMCI 0.00%↑ , if and when it gets through 809, 821, it'll be playable. Huge. Then we see.

And then how about CRWD 0.00%↑ ? We destroyed CrowdStrike. Would love to get 15 on those. Boom. Then we see, then we see.

So when I post things, like somebody in the room actually queued me to it. He said, "Oh, uh, Palantir PLTR 0.00%↑ is going to be in the S&P." And then said people are saying CrowdStrike. And I went and looked. I went and looked and CrowdStrike is the most pricey one. It's the biggest market cap. So why wouldn't CrowdStrike be in there? The biggest market cap would be in there. You're going to go take a shitty ass company that's worth a third of that and put it in versus a stronger company. Guys, logic. There's simple logic. Be logical and the logical will help you become great. And you can become great if you do this.

Okay, uh, FSLR 0.00%↑. Once again, if data center is huge, First Solar should go. When does it go? I don't know. It's just basing two and a half weeks. Can't get going, so don't force it now. Don't force it. ENPH 0.00%↑ Enphase, interesting. When I woke up this was at 120, it's at 124. It's up 4, interesting right?

ARM 0.00%↑ , doing nothing. And that's what we know. That's what we know.

Okay, GME. Let's see, let's see, let's see. Would love GME to drop to about 24 and then we buy it up for next week.

Okay, let's get going. 6/10.

Stocks go up, stocks go down.

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Fun, fun, fun. FOMC This week, CPI this week. And let's see. Okay, uh, and don't force trades on NVIDIA. I guarantee you, somebody's going to say this because I got so many messages. I got messages from hundreds of people telling me that it's going to go to 300 or 400. I mean guys, just like the same people telling me TSLA 0.00%↑ is going to go to 400-500 to $5 trillion. Doesn't happen. Guys, let me just tell you something. At some point Nvidia is going to miss. Maybe in a year, maybe in two years, maybe in five years. I don't know. But the day they miss, it's going to drop 30 points which is 300 points, I mean in seconds. Okay, so just understand that. They all do at some point. Not saying this week, not saying next week. So just understand.