Welcome back to another mark, closing, live stream! Well! Well! Well, folks, what a weird freaking market! We talked about this uh quite a bit that we could be facing these convictionless rallies and while we talked about a whole lot of stuff in the market, uh in the course member live streams, the recurring theme folks convictionless rallies. That's what we're dealing with it's. Just no conviction at all false start. False start false start.

Fortunately, we're really not breaking past the floors that we've previously seen, which is good, because i think if we start breaking past the prior floors, that we had we start running into issues. Now we wrote our floors down what was it like december 10th, or something like that? Let me see here december 13. 14.. Here they have december 16..

We wrote down all of our floors. Let's just do a little floor check while we're at it uh yeah convictionless rally equals the new cautiously optimistic. I i agree with that. I actually think that's uh.

That's that's a good way to put it. So, let's do a little check here. So lemonade 40 floor. It's at 40 dollars and 70 cents slightly above docusign a 140 floor.

It's at 153 so see we're off the floor. I don't want to see us breaking the floors when we have these red days see trade desk. It was like 85 was the floor. Uh not not here - this was before this was part of the early rally and stuff more talking about recent floor here.

84 85 right around here was the floor. So we're still up here, uh, so fine fourteen dollar floor. It's at fourteen. Ninety one see look at that just to dis disgusting uh, robin hood 18.

I think it's just slightly below 18 right now, yeah, look at it! It's going back down to our imaginary line of that's taking robin hood to zero cloudflare 129 floor. It's at 134! Oh! It extended a little bit more today. End phase recent 180 floor, see we're mostly respecting all of the floors. Matterport 21 to 22..

It's at 2240. see look at that uh. You know, even though we're lacking that conviction. Piton was 36, we're not oh p piton.

I don't think has found its floor yet because this is now the second time piton has broken, but i don't think piton has ever really found a floor because notice how it really doesn't touch the same price twice. It just keeps kind of going down. Maybe right here, 40 41. Maybe there you kind of touched it twice, but that it just hasn't stopped falling.

So i can't really say: piton is a floor. 1780 was the floor for carnival. Look at that. It's actually positive.

Today, paypal uh. I think it was 180. It's at 190. yeah.

Let me write that down 180. a firm was 92, but that was only during the flood period. It's a 102 now! So that's fine! Toast was 30 and they're at 36. So that's fine.

Arc g was 58 they're at 61.. So that's above arc k had a floor of i actually didn't write down a floor, but it looks like it was about 89.90 and it's above that and then zoom. It had a floor of 175 and it's above that, so all of them are above their floor, which is good, even though we're seeing all this ugly, red and neo is hanging out just under 30, again um, but also off of its relative floor here uh. So you know google's bouncing along here: we've got, let's see how we did on the indices, which is it's interesting to look at, because the s p 500 literally crossed a a record high to 4 800 uh, just above 4, 800 and yeah see now it's negative.

Look at that we actually when oh, i love how there's a quick link to everything bubble on cnbc. That's interesting! We'll look at that in just a sec, uh dow jones up about a third actually exactly a third s: p down .02 nasdaq technologies down the largest down 0.38. Looking at bonds, bond yields barely moving actually on this news, brent at 80, uh and uh btc. Just under 48 we gave up, we literally went right back to our uh, our downside support.

We fully gave up that that u-turn, that rally u-turn so uh, which which we knew was the potential downside risk. Then oh yeah, let's look at that everything bubble. What is this? Wealthy investors want to own a little less of everything bubble, less of the everything bubble in 2022. Okay, just over half expect the s p.

To finish with a five percent gain. Wealthy americans have little appetite for more risk. Oh, i like how this guy's actually blowing a bubble. That's kind of funny that looks like it's about to pop too can't take more risk, get out of the market market is high and people are nervous sounds like somebody who's shorting, the market.

If you haven't got the guts to pull out, our clients are fearful, but none of them are at the point of getting out. You can't really get much more risk on as far as fresh dollars, so in other words, kind of peak risk is what they're suggesting inflation and the fed economy blah blah blah blah blah whatever okay. So, let's take a look at some other news that we got and let's also in the meantime, turn on the member chat. Okay, new york, city's, a double school test on omicron apple, oh yeah.

I saw this alert when it came through apple's dumping money at people. It's incredible: he's uh he's throwing money or apple's throwing money at people to uh to make sure they stay. It's interesting. It kind of shows just the the challenge of of hiring and finding excellent talent very difficult, these days extremely difficult yeah.

So it's either. It's either compromise or we're just i guess you have a smaller team, it's pretty incredible uh! It's also kind of rough out there for a lot of different folks, but uh. Okay, let's see here there we go remember chat's on number of zombie companies is falling. Despite bites from inflation and coven zombie company companies that are upside down, they can't even survive with the debt load.

They have crypto won't solve financial inequality, says senator warren. Nobody really cares. What senator warren has to say about crypto. I don't think uh anyway, all right waiting for the verdict in holmes be prepared to keep waiting.

Okay, not a lot of headline grabbers here on bloomberg: let's go ahead and jump on over to the journal biden, eyes raskin, as top fed banking regulator. That's interesting! So there are three new seats that are being picked yeah, let's see if we can get a little info here. So this is raskia former fed governor former treasury official to become the central bank's vice chairwoman of supervision be interesting. Um, along with lisa cook and philip jefferson raskin nomination could modify progressive dams.

I don't know how important this is right now masking was deeply involved behind the seals to write the dodd-frank regulatory overhang. That's interesting so uh dodd-frank was is something that uh definitely put a lot of restrictions on larger banks, uh lending requirements, uh some say potentially uh hurt our economic recovery coming out of 2008. Others say is perfect for preventing uh crashes or uh or bubbles, but uh yeah. This would be a little more interesting to go through a little later, but i don't think too terribly important right now, not sure the market's reacting to this senator warren needs to retire.

Uh, that's interesting. Somebody donated ten dollars to say that, since mid to late september, i've noticed that the market almost always drops on tuesday after a strong, open and then just dips all day only to recover the last rest of the week pattern. Maybe maybe that is interesting, it's possible all right. What else we have elder abuse spreads stoked by pandemic yikes chicago office term market pickers struggling to beat the market yeah.

Individual stocks have been rough with uh, especially with with uh how weird these little rallies have been moving. The s p has been performing so incredibly nah, otherwise, okay, relatively quiet. So what i'm gon na do then, is i'm going to go? Hunt around play options. A little bit so, let's take a look here.

One of the things that that i like exploring an idea of is hunting for potential, calls that you could sell in companies that you think are likely to trade sideways for a bit so without without rallying it. So, let's just do an example here: let's, let's see what that could look like if we go into square and let's say you're like hey, i think this bottom is going to last a while before it actually returns before we rally, because if it does rally then You'll get screwed on your covers right, but let's say you had five hundred thousand dollars in square yeah. I'm using that because that's me, okay and then let's say i was gon na sell covered calls at the money. So i'm gon na sell calls well sell calls which is a cover, call and i have the shares and i've got uh, so i'm going to sell 50 of these.

So if i sold 50 of these contracts on a 500k position, i'd get about 36 000. For january and if square started running excuse me, then then you'd want to jump out of these really fast. Unless, of course, you had a convictionless rally and you just pumped a little bit only to fall right back. That would make that a little complicated of a decision, but that it would be a way to, and this is a sold call for january.

You could also go out a little further. Let's see if we go out to feb like 56 000.. Now, i'm closer now, i'm over 10 selling a call for feb 73 000 going out to march. These are not terrible, bumps 20k, a piece here.

If i go to april now, i'm only getting about nine 8k. So probably yeah, it's a little less! That's like 17k! Here and going from the 21st of jan to feb 18., it's about 20 grand, that's not terrible, but if you get any sort of rally between now and march 18th, you're gon na be upside down on those covered calls. So usually, one of the nice things to do is to try to find a high volatility stock. That's up and then sell some calls against it, like let's try roku.

So if i have 20 contracts, what what do i have 232? What do i have? I don't? Even know what i have here two - i don't. I think i have 250 123 divided by 232. That's about a thousand shares, so 10 contracts, 10 contracts of roku. Let's see if i wanted covered calls on roku, which has been rebounding and very nice all right weeble.

We we will suck in right now come on options. There we go. Okay, we did hold on. Let's look here: 45 cents, it's about the same 25, 45 yeah, it's about the same, and let's go for this one.

Let's go for the 230 sold call. What do i get? Sell 10 calls it's about as much as i can. Do you get about 15k, a little less than 10 percent. That's out to january, go out to february 23 000.

That's not bad quick way and you get 10 uh if it goes down. You're hedged if it goes up either get out early or sell your shares right. That'd, be a nice quick little way to pick this up um, i did not see any delivery numbers for lucid and i don't think they're gon na be coming out for at least another week, but anyway, okay. So that's a consideration of mine in this weird market, but usually selling calls is only good if you're really expecting that sideways trading, so it could be a way to hedge, your portfolio by picking up a larger credit, maybe you could even go weekly calls.

This is something that people and then you have a little bit more turnover, but let's see what that looks like. So, let's do it with square and let's go look at squares, weekly options. Let's go to so the next one would be. I mean i'm not going to go for the third i'm going to go for january 7th.

So let's say you go january. 7Th square sell, call, get four bucks. Four bucks on 165 you're a little protected, that's four dollars and 45 cents divided by 165. That puts you about a two point: seven percent return yeah! That's all right! Oh yeah! No! I know i'm i'm still hodling that that hood and i believe it's ridiculous where they sit with the amount of cash they have and that crypto crypto wallets coming.

But hey you know just because you believe something doesn't necessarily mean the stock market agrees we'll see, give it some time. You got ta be patient with these things. So not a lot of green. Some recovery is green.

Macy's airlines carnival cruise lines home depot target spirit, nordstrom, not a lot of news, but we do know that crypto's getting whacked uh falling right back to its support line, voyager digital backed backed getting whacked. I mean that's expected at this point: uh upstart, big trader moves here, gave up another seven percent roblox under 100. Again, if you're, looking for an opportunity on roblox under 100. uh dutch bros down robin hood down lemonade down.

But again, as we saw at the beginning of the stream a lot of these above their support levels, let's go ahead and look at enphase and tesla and see what else we got here. End phase 187 tesla sitting about 1087.: hey, that's just like end phase. It's a little bit apart, one extra digit in there hmm spy sell-off. Let's take a look at that yeah spy negative 0.2.

Oh that's! Nice! Look at that end of the day sell-off! Let's see, look at that fear, ooh yeah you're! Getting in an ark too! Let's go rather than the end of the day, buying you're getting the end of the day. Fun sell-off tan uh arc spy. Seven minutes to go here. Hmm yeah, robin hood is an easy short.

When you know retail, don't want to buy it. That's true! Surprisingly, it doesn't have that many shorts, though oh well, all right, let's uh, while we keep an eye out these crazy red candlesticks here and massive red volume coming in at the end of the day, let's take a quick listening to cnbc. Let's see what they're saying it's in the last hour, i think mike said something like since april: uh, the the equity market has outperformed crypto assets by. I forget the percentage that he mentioned, but we know that it has and how many investors have come into the crypto trade above 50, 000 or even above 60, 000..

Well, in fairness, crypto was at its peak in april, so it's like he's measuring from the top down what they want. Well, it's first peak this year price was maybe 5 000 or 10 000.. That's the problem with price momentum, that's problem as it moves higher and that's the problem. Where again i introduce this word, maintaining discipline, it's important to do so.

I think the majority of the stronger hands that holds crypto, i think they'll, be fine. But unfortunately, i think there's a lot of weaker hands at play here and i think in the month of december you're seeing a lot of the weaker ownership of risk assets being shaken out, and i think that process extends itself into the new year. Let's have a look at uh travel stocks uh today, seema modi's got that breakdown for us, hello, wilfred booking holding ceo glenn fogle uh earlier today, telling me that he acknowledged the impact of covid on staffing and cancellations and how that is pushing more travelers to reassess Plans, listen in so if an airline doesn't have the appropriate staffing, it can't get that plane up in the air. All right staffing problems got it.

So a little sell-off here, uh into the close, but when you zoom out on the day, it's it's nothing that we haven't seen. So it's not like it's substantial tesla that was end phase. This is just fun selling. This is more of like kathy.

What's up did did y'all see kathy woods, crazy sales. Look at this. Let's see if i can grab it really quick i'll put it up on screen just one sec and shout out to ross gerber by the way he says what did he say he said uh distributions are not that large for the funds to justify all the selling It shouldn't be distributing at all uh something yeah, okay, okay, so little it seems like a lot of people are kind of confused by what's going on over at at woods fun. I think uh.

Somebody said it earlier and said it best kathy's doing her soul-searching, which uh i really like them. I feel bad for them, but this was quite odd. This this end of the year cash raise, and it hasn't really - i just it just seems odd. I know they have the little disclaimer here about their cash raise, but a lot of everything kind of just like i went down the list and it's like that's.

It take the axe to a little bit everything we got outflows and we got taxes to pay. Oh, no, oh all right that was uh. That was odd, so spy uh, it does look like it's continuing to fall into the clothes. Embraer has got its eves back coming out soon, so i've been keeping an eye on embraer, seeing if i can get a better deal on it.

Wow the uh hut options are going to be a lot cheaper. Today, if you were looking for a deal on a hud option, choose if you thought crypto was going to rally again, which balance getting it closer to the line to support line might not be terrible unless you thought bitcoin was going to break through this 47.2 and Maybe go to 37. If you think it's gon na break, do not buy hut, certainly don't buy the calls, but if you think that hud 8 has the potential of rallying, i really right now, like the deep in the money, calls the five dollar ones uh, because you you are, you Know you have to fall quite a bit for you to lose all of your your profit on that or your investment on that? Okay, so gtech holdings actually wow. It's 20 cent stock geez.

I remember when they were like 70 cents, so many valuations have just been smushed really kind of gross, but this is what it is next door. Eight dollars. Electro mechanic is only a two dollar and thirty cent stock, oh gosh, so much pain uh. On on how long some of these have been getting beat up, arcimoto eight bucks - you know uh tesla's, obviously doing well the mega caps doing well, although they are red yeah see if i can find any other background info on on, what's potentially driving the selling today.

Let's take a look yeah, i don't know why you do a dividend once a year, no at the end of december, and i don't know why you do that. But whatever seasonality shows the brief reprieve and inflation may be over ooh brief reprieve uh inflation has been moderating as of late briefly slowing into the year. It's a seasonal trend that has held through uh the last five years. Oh so this person's mentioning maybe a a brief little seasonal break in inflation and we start seeing higher inflation numbers again.

Ooh. That's an interesting idea, one minute left until closing, so you got one minute left to deal with your options. If you want to get rid of them, a little more weakness and stock futures could start triggering stops. Stop losses, which means more selling three-month risk reversal good direction of euro direction.

Well, that's for europe yeah! Okay, nothing particularly juicy to cover there. Okay, so uh all right 30 seconds into the close: let's listen to uh sarah, take it away: u.s stocks waiver amid rotation out of big text. It's like the opposite of the article headline that we heard this morning that oh well, here we go, and that tells you what you need to know technology underperforming today the tech sector is down. In the s p.

The nasdaq is the lowest of the three major averages down about six tenths here into the close and the s p 500 breaks this little win streak that we've had going what's working today: utilities, consumer staples materials, real estate and consumer discretionary just popped into the green Everybody else is negative. The worst performing sector looks like is technology, though you did have a few games in places like amazon starbucks. I can't believe on the left side. They all zoomed in oh i'm gon na zoom in to go ring.

The bell. Get your butt out there. Would you get your freaking butt out to the stock market? The stock exchange come on man zooming into the bell lame anyway, dow jones down point two: seven percent s p down: i'm sorry, dow jones! Actually up 0.27 percent s p down point one: nasdaq, uh, not the worst anymore down! Point five: six russell down point: six: six: ten year treasury kind of stable: let's see how that selling looked going into the close of the day here. If we have some sparkline still heading down, it's this uh convictionist list, ralliness uh.

Personally, i think it's a great opportunity to keep building out your share positions. I know sometimes it can be frustrating because it's like, ah it's like it just it goes up a little and then it goes down again. It goes up a little and then go down again, but uh yeah. It doesn't look like that was too terribly much of an impact here at the end of the day, pretty casual, pretty typical.

Here, let's look at volumes just kind of compare to see. What's going on with volumes, yeah look at that volume cliff we're seeing here in terms of trading volumes here, so you, you definitely had a large amount of volume, the last week of november and the middle of this month, and that's really relaxed here into the holidays. Kind of like people are taking off seeing volume rotate down tesla a little bit more stable. Let's try a firm, for example, although they're going to have a big volume spike.

When that report came out yeah here we go uh the volume since declining square yeah. Same thing, volumes kind of rotated, down, neo goog, hundreds of flights to new york, and so i believe that okay, well we'll watch crypto closely in the after hours here, just to see if some of the ugly goes away or if this pain is going to continue. I don't really see a particular clear catalyst as to why the market would be kind of fussy other than it's just been fussy. It's like a little a little baby that just uh i just don't.

I don't feel good today, my my diaper's, not on right uh. So you got a little bit of that going on and uh, and you know what one day it's like today, i feel like running. I'm just kidding, i'm tired. It feels a little bit like that uh.

So i do have to say it's it's pretty weird, but uh hey. Hopefully it's a good setup for 2022 and in 2022 we're able to look back at all the shares we were able to acquire during the the slow periods of time. That's uh! That's what i like to do as i it's so hard to add when things are skyrocketing uh i know sometimes it feels easier to add when things are skyrocketing, but then then you're just giving your your returns up uh in exchange for risk that that doesn't make Sense so uh, oh flo! Oh that's why you were saying flights to new york cancelled because you can't get to the stock market. Well, it's not my problem.

You you planned poorly, i'm just kidding. I know it's not it's not necessarily somebody's fault. If their flight got cancelled, but i don't know it's still kind of lame anyway, uh, okay, well, folks, that's it get yourself. Five free stocks with weeble link down below go to mckevin.com, weeble and folks, we'll see in the next one thanks again goodbye.