Oh, hey everyone stock doc. Here i was just writing you a prescription to take your tesla one times weekly for the next six weeks, because tesla's going to the moon - and i signed it too - but anyway welcome back to another market. Open, live stream. Folks, we've got uh, we got another green day, you know yesterday started red and even though things started res you had yesterday, we quickly you turned out of a red market.

It was impressive how fast we turned out of a red market yesterday and today we've got a whole lot of green as well. We got the dow jones of futures uh upper 38.38. The s p at point 38, nasdaq futures tech lagging tiny little bit here up 0.29 oil. Let's take a look at oil.

Uh is slightly below 85 again on the brent and if we go on over to bonds we're sitting at a 10-year at 1.61, despite a slight miss on housing numbers this morning, slight miss on housing numbers this morning did uh did the deal. Leave yields falling a tiny little bit, but anyway, let's take a look a little bit what's going on in pre-market and then what we're going to do is we're going to jump on over into some of the earnings that came out this morning. Specifically we're going to look at johnson johnson, procter gamble. We've got a lot of earnings that came out and um we're really now at the official beginning of earnings season, which is very big because we are looking for a lot of insights into what's actually happening with inflation.

So, let's see what um, what we've got going on here in the uh stock charts and uh luke here mentions uh doc. I've been taking square once a week for the past six months, really enjoying the results. Good, i'm glad that prescriptions been working out well for you, so uh keep it up square is one of my faves uh. Alright! So let's see here, what do we got so we'll start with the losers again here, we'll pull over pre-market so pre-market here.

First, majestic silver up 5.53 percent here in the pre-market and the silver eye shares up as well. Look at that sprotts physical silver, silver running right now, uh a lot of commodities have been running like crazy uranium's been one of those as well copper. It's been incredible. A lumber coming back up, i mean a lot of commodity prices coming back up, but uh you got to be careful, not all of them are uh, you know for sure, and the ones you want to pay, but anyway uh.

I'm definitely by no means a commodities expert. So let's see what else we have here there we go fix that a little bit: okay, cool! So uh - nordic american tankers uh at uh. Let's see where are they here? They are oh up: 2.47, dutch bros, knocking on the door of 59 here: honey mining, one two three four is the price right now: 12. 34 up three percent in the pre-market, as bitcoin sitting at 62, 000 in vitae, coming back a little bit 2.21 percent.

Here a lot of sell-offs over in the pharma space and vitae crispr moderna a lot of recent sell-offs. Nano dimension up a couple percent here, let's see here, matterport 1.58 to the upside you've got fastly expanding these guys coming up a tiny little bit here. So five one point: three: you have, let's see what else you have beachbody about one percent here: blank charging, dave and busters tesla redfin. All these guys around point eight to the upside as well as corsair gaming, up about .85 tesla sitting at uh, with earnings coming out tomorrow by the way sitting at 877 approaching those all-time highs, all-time intraday high at 904 on tesla.

Remember that number palantir pound here i saw pounds here here. It is that's at 24.44 up about three quarters of a percent. Let's take a look here and uh scroll down a little bit more they're square up, uh, two-thirds of a percent pinterest up about uh point. Six percent end phase up 0.57 etsy 0.56 beyond meat, 0.58, nice, some of the airlines coming back here, spirit, airlines, southwest green hippo, green home depot, nordstrom, lucid wayfair little bit of green lot.

I mean honestly a lot of green, even though it's a little green. A lot of green, not a lot of red. We are slightly yeah we're about six shares over a page of red here, uh red specifically uh over here with ebay, united wholesale mortgage you've got amazon, uh, macy's and macy's really selling down about 1.52, but yesterday it had an insane days. I mean for what it's worth it was down.

I mean it was up 17.5 percent. Yesterday, it's incredible zillow dropping another one percent here in the pre-market ethereum sitting at about 3 800 and uh bitcoin over 62 000., pretty incredible yeah. How is neo doing? Let's take a look at that: let's look at neo here, hmm and then we're going to look at some of the earnings. I've not looked at ion q, yet first quantum back company back really i'll.

Look at that iq quantum computing! How do you? How do you deal with the randomness of that? I don't know uh all right. So what do we got over here? Yeah and somebody's shouting out shebe, let's see what you got on sheep and then we'll look at neo sheep's sitting at 28 right now. This is the weekly chart. Let's go to the minute here: oh yeah, a nice little push there on the minute chart: okay, let's look at nia, though neo uh up 1.89, very nice uh sitting at 40, 35 right now, very, very good uh and uh tesla's inclining right now or increasing right Now sitting at 0.82 percent good, so let's now look at a little bit of what we have with earnings, so the first one i want to look at is if i can hear yeah, johnson and johnson, all right so jay and jay reported earnings this morning.

Here's a consumer staple for you, so johnson and johnson. Let's look at the uh, we'll look at the day chart here. It's the day chart on johnson and johnson johnson johnson comes in with an eps of 137. They met their range of uh.

Let's see here, i'm sorry they beat their fiscal year, adjusted eps goal of uh 9.66 on consensus and they came in at 9.77 to 9.82 good job net income of 3.67 billion international sales, 11.38 billion with u.s sales at 11.96, wow they're, almost half u.s and half International at johnson johnson, that is incredible, so uh worldwide consumer sales, 3.7 billion johnson q3 sales came in at 23.3 billion, a slight miss from 23.74 expected, but uh, very good eps guidance here, huge revenue numbers really incredible and uh yeah raising raising that profit guidance. Big deal johnson johnson, covid vaccine added 502 million dollars to q3 revenue wow all right. Let's look at procter and gamble now, let's see procter gamble also reported today. So let's see what we got going on with these folks.

So all right - let's see here procter gamble, just reported not that long ago, actually was not that long ago, two hours ago, the the morning earnings reports are always uh things that we're not going to watch live, but i still like to review them and we still Like to go through, the earnings calls as well we'll do that later, though, so procter gamble came in with a buck 61 on eps, the estimate was for 159, so beat by a couple pennies. There, net sales coming in at 20.34 billion beat by 1992.. Hey, that's a good number. 1992.

uh. Let's see here, procter gamble keeps their fiscal year guidance uh, a combined impact of commodities and freight costs is about a 90 cent headwind to fiscal year. 2022, uh eps 90. Headwind wonder what they're expecting for the fiscal year eps, because then we could determine how much of a percentage that is here.

It is uh fiscal eps, the range of 3d surface here, okay, so they're thinking 2022 is going to grow by about five to six percent. So if i just go with times four and a half percent, i'm gon na get an eps of about 5.91 and they think that there's going to be about a 90 cent headwind to procter and gamble shares. Okay, so pg is estimating about a 15 impact due to uh commodities, to bottom line due to commodities and shipping. That's a lot.

Fifteen percent bottom line impact bottom line right there on bottom line. Wow sounds like they need that prescription to some more tesla uh wow. Okay, so that was procter gamble. We hit procter gamble: johnson johnson um, philip morris halliburton, yeah, i'm not jumping up and down i'm looking at some of these, so uh.

Let's go ahead and uh. Let's see what else is going on uh specifically, i want to take a listen to this right here hold on somewhat, but not to the point where you would typically expect when the feds starting to normalize policy were faced with higher corporate taxes. That was at the core of my expectations of a 10 to 12 percent correction and the idea that you would get this. You know sentiment real sentiment, negative signal, but we just didn't get it or we haven't gotten it at least there's some mod kings in this survey.

I'm looking forward to catching up with bfa about it in about 20 minutes tony, the bond allocation story, emily just touched on it there within this survey allocation to bond, is at a record low allocation to bond to the record low, as people are getting more and More bearish, i guess what it depends on tony and emily also mentioned this. It's what they're bearish about. If it's inflation, do i get the protection i want from where i typically get protection from, and maybe tony the answer to that is no, i think, you're right on that one jonathan. I think investors do need to look beyond kind of maybe traditional ways: fixed income fit into a portfolio all right, i'm going to pull off that guy's reply.

Uh, let's see here. This is boring. Uh, let's see, let's go ahead and jump back over to the sticks and just see how things are moving over here and then we'll see what headlines are as well. So uh, okay, yeah silver blowing up a little bit here in the pre-market neo, is at two percent right now: alibaba continuing its return at 170 right now, good job ali baba we've got charge point.

Finally, finally, breaking twenty dollars. Folks, congratulations charge point at 20, 26 right now, good job charge. Point boy! Oh boy! That's been a long time coming uh! You have uh, let's see here so far. So far on the move again: breaking 21.: oh yeah yeah, yeah yeah.

It is just an incredible market right now, very, very bullish, right now, looking obviously for those red flags for a potential correction sitting at 877 there on tesla and uh still to the downside, mostly macy's zillow, a little bit of shift a firm actually just went to The downside a little bit pre-market. They were up as high as one percent uh down right now, 0.09 sitting at 157.. What if there was any news that came in on a firm because a firm was actually kind of odd to see it, go from so green to negative without news, but let's see here nope no news all right. Well, that's the way it works.

Sometimes, let's look at btc uh sitting at 62 3 right now. Nice moves uh just over 38 on ethereum all right. Let's see what kind of news we have. Let's head on over to bloomberg and we'll get top chart off as well yeah uh! I will be releasing a bitcoin video by the way: uh bitcoin ethereum uh, crypto btf or etf uh information, uh, grayscale, bitcoin, etf, uh, all this good futures etf.

All of that at uh, right, probably right after this live stream. So like 7 15, something like that. California, time stay tuned for that i'll be releasing that video then wow. This is some potential news here.

Facebook has chosen coinbase as its custody partner for a pilot of a new digital wallet, facebook and coinbase wallet ooh. This is very interesting. Uh, i'm going to see how those stocks are moving right. Now: okay, facebook, facebook on this news - uh - that's i don't know if we can really call that a notable move.

I mean it's. It's certainly moving up a little bit here, uh yeah there we go now now it looks like it's moving more now. The news is really breaking uh. That's it's possible that we're gon na see this.

This move a little bit more here on this. As this new spread, oh coinbase is loving it let's go coinbase. Finally, finally, over 300 again 303.73 on coinbase, my coinbase leaps are going to be very, very happy. Also soon we will be listening into uh.

It looks like gary gensler is coming on to cnbc a lot of news happening today. Uh. This is incredible. We should do an updated, coinbase, video coinbase wow, who needs a prescription for some more crypto and coinbase.

All right, you one. I got a prescription pad right here, um all right, wow, so uh, that's that's pretty cool! Then we've got end phase and face sitting up about 0.43. Nothing particularly notable here. Uh yeah facebook's.

Definitely moving on this as well. Nowhere near as much as a coin base is moving, but uh yeah. This is this is very, very good uh. In fact, if i, if i listen to my heart rate right now, it probably probably have a little bit of of positivity.

Oh yeah there's a lot of positivity in this happening right now: uh yep, so uh, coinbase, very, very happy, we'll see how we'll see if that lasts. Okay. So, let's see here, hmm nothing really moving here on the uh towards the downside. It's really the upside that continues to keep moving here.

Sun power moving up, solar's doing well, yeah. I'm curious to see this. This talk about facebook getting in here i'm gon na pull the uh. This news, let's see if i can get the new sheet up for facebook draftkings getting into crypto as well.

I heard that, let me see here. Let me see draft see if i can pull up the news on this see if there's anything particular on draftkings today on digital collectibles, yeah, ethereum, scaling solution, polygon teams up with draftkings to support nfts wow, that's actually really good polygon nfts uh draftkings. Oh, let's see here, okay, so let's go ahead and take a look at this: can i get dot on this dot dot usd? I can uh dot usd on the day, not particularly any kind of big movement here. So ah that could have been.

No, i mean it depends. There was certainly a catalyst here in the 13th for dot, but uh. Let me go to more importantly right now. Draftkings yeah draftkings is happy right now, it's a good good move on draftkings, but uh draftkings has really been worn out.

Let's go to the day chart on draftkings: let's see how we're sitting here, draftkings skidara's, let's see if we get a trend over here. Obviously we've broken trends so many times on this one, not quite not quite probably a little bit more. Yes, probably a little bit more of the trend we have right now i mean you're on a nice uptrend right here. Uh we've seen these sorts of uptrends before with draftkings and usually well.

In these two instances you ended up higher, but well actually after this one. After a period of time, you ended up lower here, so you did drop your shelf you're at sort of a lower level of appreciation right now, you're not too far off. Those may 12 figures right now, you're sitting at 48 right now, uh this thing had uh fallen down to about 39. uh hold on a sec.

What's this over here kathy markets and took the creativity and the imagination? Now it's coming back and i really think it's starting with the millennials. They are excited joy, jim, the creativity, the imagination come on, hmm, okay, sorry! So i'm seeing in the comments here you're saying the coin is matic. Is that built on the i i don't know. Forgive me is that built on polygon, i'm assuming matic, i'm i'm guessing.

The answer to that is yes. Yeah polymatic polygon price well hold on a second here matic. Why do they make it so confusing polygon is maddoxy. I don't know much about the pub just rebranded.

Well, what okay they changed. The name polygon is matic. Oh okay, oh yeah! Look at that! Matic network has announced their rebranding. Oh interesting, ah, fascinating, okay! Well, that's more for me to learn that makes sense.

Okay, polygonatic! Thank you, matic! Not all right! Thank you for that. So uh. Let me see what else it mentions here. So ethereum scaling solution teams up with draftkings polygon, has announced to draftkings mainstream accessibility to support custom nft drops, along with secondary market transactions, ooh.

That's actually competition to uh to open c as well, then hmm, with the option of becoming a validator draftkings, may be able to take part in proof of stake. Consensus protocol for polygon black blockchain main network to produce blocks, join polygons governance and contribute to network security. As a leader in polygon's future wow, that's incredible: polygons infrastructure supports more than 100 000 blockchain gamers, along with web 3.0 games and metaverses that all contribute to high quality gaming experiences. Polygons existing partners include atari, decentraland, open sea, the sandbox zed run neo district, among others huge.

This is actually. This is great yeah. I think that's big for for draftkings the whole nft market, uh space, where it's really i mean it's, it's a natural place to go. Uh it's coinbase up because of uh btc or facebook news it's up in my opinion, because of the facebook news, uh and the reason i say it's up because of the facebook news is because if you go to the minute chart on coinbase, you could see coin.

Just taking off uh it settled back down a little bit. It was up a little more yes, see, look at that. This is when the facebook news came out, and so you can see it's kind of settled down a little bit a little bit of uh by the news here and then a little bit of a taper okay, wow awesome. Let's see what other top news we got here, so facebook, facebook, facebook, facebook, testing, remittances through digital wallet, app no fee remittances in u.s and guatemala, wow interesting i'll, write that one down too all right all right.

Let's see what else we have but check btc, also yeah i'll check, btc yeah. I know it's over 62.. Oh, it just started running as well. Well, honestly, it's ah dang uh, it's prom and i got a bitcoin video coming out too dang.

It uh. Of course, it starts running right before my video is coming out whatever. What are you gon na? Do wait until apple crypto, yeah no kidding - and let's see here, i want to see coin market cap yeah. Look at that: okay.

62. 5 here in coin market cap for btc, aetherium, 88, 20 or 38 10. cardano's really been the laggard here. Oh there we go just updated a little bit.

Cardano's just been stuck in the mud. It just released the video now yeah. Well um. I don't know, then they fight for each other on on the youtube.

It's weird, so uh, but anyway um cardona, yeah cardona's really just been. I mean he. This was all alonzo hard fork hype over here, smart contracts, i mean year to date. It's obviously it's.

It's still up, but it's just been stuck in the mud. For a little bit i mean it's okay, uh at least it's actually showing some serious support around these levels, though, for what it's worth uh, you know yeah. It feels like a consolidation. I would agree with that yeah, it is true.

I mean i can't be complaining. I bought the crap out of this thing at like a dollar, a dollar eight, a dollar, thirty, and every time i bought it. I sent alerts to those of you in the stocks and psychology of money group because it's stocks in psychology, but you also get the crypto alerts anytime. I buy or sell crypto so uh if you're, not in the stocks, psychology and money group.

Yet remember you pay once lifetime access. The price goes up again on the 29th, got a bunch of new lectures dropping on the 24th that's sunday, so i'm going to be working uh quite a while and uh to make sure we got some really really awesome lectures on this release and uh yeah. I'd love to have you uh. Do the live course, member uh q, a live streams as well, and it's it's fun chatting.

Yesterday we had a big thread going about gme as well. We still have that big thread going, but we can now make uh separate threads for uh individual discussions within our group, which is super cool there. We go plug the star thing in anyway: uh yeah check that out down below okay. So, let's see, let's see what other top news we have before we open here.

We've got five minutes to go. Uh bitcoin pushes towards record before debut a futures based etf supply, chain, shocks and earnings trip investors up, yup, yup, yup housing housing starts, fell last month, led by a multi-family slowdown. I want to see this here. Multi family slow down - let's see here, uh, okay, the u.s housing starts decreased in september, driven by a pullback in multifamily construction as of uh because of lingering supply chain constraints.

As short as shortages of skilled labor and elevated material costs. Yeah, i mean this kind of reiterates what happened with zillow yesterday, so applications to build a proxy for future construction fell 7.7 percent at an annualized rate. That's a pretty big decrease single family starts unchanged, wow, negative 7.7 percent on multi-family uh. That's just really a symptom of uh uh.

You know what's happening all right, so let's uh, let's see other top news that we have going into the open here. Hmm, let's see economy has plenty of off-ramps before stagflation, yeah putin to skip g20 meeting. Oh gosh, alibaba alibaba unveils one of china's most advanced chips, alibaba unveiled a new server chip, that's based on a 5 nanometer technology, marking a milestone in china's pursuit of semiconductor self-sufficiency. That's actually big news, in my opinion, for baba a five nanometer chip uh.

China's tech giant newest chip is based on micro architecture provided by the softbank owned group arm, and this was uh. You know nvidia was gon na partner with them, alibaba, which is holding its annual cloud summit, said the silicon will be put to use in its own data centers in the near future and will not be sold commercially, at least for now. Yeah, hmm wonder what that means for uh the nvidia arm deal. Oh well, all right! So, let's see here lemonade price target cut on on by barclays.

Oh, how dare they? Let's see here? We have let's see if i can get that update as well yep that just came in two minutes ago. I'm sorry an hour and two minutes ago. Oh okay, so kind of old news at this point, but hey lemonade's, still positive, look at it. It's still slightly positive uh, but yeah barclays cutting lemonade to 68 dollars a share from 80.

morgan stanley adjusts lemonade price target to 74. from 90. wow. A couple cuts here all right.

Well, it makes sense that firms - and this is the irony of of ratings. It makes sense that when a trade when a stock consolidates kind of like lemonade, has uh when a stock goes down like this, it doesn't make sense for a company to have a price target. That's so way high up, you know in the 90s or whatever, because you're so far off, you may as well have a price target. That's just a little bit above so that way when they beat it, you could raise your price target and kind of help that momentum go.

You know tim. These are. These are trade secrets. I i can't tell you, i can't trade secrets.

Uh sell the news on the bitcoin etf. I mean if this remember this is a bitcoin futures etf, it's not the bitcoin, etf and uh. I am not optimistic on this futures etf. I don't think you should buy it uh.

I think it's a mistake and uh. I i'm yeah, i'm not happy about it, but we have it here on the watch list now so we'll watch it. Okay, we are going to uh open here in about 30 seconds. Let's take a quick peek, let's see if a firm's still red.

Oh look at that a firm goes green again: let's go up 0.41 good job firm, coming back from the red macy smile, direct naked red, oh lemonade, turned red yeah lemonade turned red on that barkley's news, cheesecake, amazon, red all right! Let's go ahead and get the bell all the other important initiatives that have been undertaken by corporate america really in a very real and positive way. Here we go. Let's get the opening bell here, guys and the cnbc real-time exchange, and you see at the big boards. It is pro shares celebrating the first us bitcoin link etf uh, sitter bito.

I financed exhibit seats in online thicket marketplace celebration. Look at the green today! Look at that green. What is that 85 plus percent green holy moly moly? That is so green. Let's see if it actually lasts today, though, let's go ahead and dive in okay minute chart tesla a little bit of a a sudden plummet there in tesla uh a little red there right at the start here on tesla coinbase little red here to start with a Little bit of uh looks like um uh.

Some potential profit taking charge point up almost 3 to 20 50 right now. Coinbase uh vacillating right now, as as we open, gamestop is uh a barcoding over here, but uh, slightly uh rotating to the downside, upon open amc rotating down on open cheesecake rotating down on open macy's, pushing down on open more down a couple percent. Now we have on open, not much movement there on kryptos that open it's just kind of normal lemonade, 6635 down on open and disney 171 mixed at the open, hippo slightly red on open owlette up a quarter of a percent kind of mixed. There end phase mix open so far below 21 little uh mix chart as well little yeah, it's turning red so far is turning red uh falling a little bit here, market kind of given up a little bit of that enthusiasm as we go into earnings.

Although etsy's rotating up and remember the market, does this, the market has this tendency of turning red right at the open, as people take profits, uh and and then we all, it's not a surprise, to see us turn green within the first 10 minutes of uh of The open here charge point running: let's go here, we go charge, points taken off, uh charge point at 3.87, that's very, very exciting. Chargepoint uh is a 6.72 billion dollar charging play very, very nice. Let's take a look here: btc yeah btc popping off a little bit here on the minute chart uh sitting right now at 62.48, but within the minute here i ran as high as 62.7 there. For a brief moment, dave and buster is still pushing slightly negative uh.

Good luck, uh yeah, let's see here, good luck have fun huh matter. Let's get rid of this pre-market here. Let's drop this over here. Let's see dutch bros no way hold on a sec rose.

Dutch bros up 5.25 percent. Oh my gosh! It's going again holy moly, uh, dutch bros up five and a quarter percent. Look at this, though folks, oh, my god get your life insurance in as little as five minutes via a link. Well, i don't know if i have a link down below, but it's going to medcavan.com life, because if you go to medkevin.com, you can get life insurance in as little as five minutes and uh.

You know with the stock gains like this you're gon na want some life insurance, so uh i mean this is this is crazy charge point taken off here, four point: six uh: five percent highly. In my opinion, oversold you've got alibaba moving substantially on this chip news here: five uh nanometer chip uh from arm pretty incredible deal here, coinbase also going green. Here we go uh draftkings on the nft moves very, very good nft news from draftkings uh by the way. Also make sure to go to metkevin.com public to get up to 70 dollars in totally free stocks met kevin.com public 70 up to 70 and totally free stocks uh.

They don't use payment for order flow and they won't buy or sell your information, and you can follow me there at mek, but anyway, gamestop up 2.55, here very bullish, crisp after that sec report yesterday. That was not very well received at all uh end phase. Here we go end phase popping off 1.42 just gained a percent very nice, very nice, let's see where uh, let's see etsy etsy at point um, let's see it's kind of. Let's see kind of rotating down a little bit here.

Where'd tesla go is tesla nag. Ah tesla's turning negative tesla's going down it's going down for the count, and it's sitting at uh 871.88 right now, waiting to see if tesla is going to you to earn. Let's take a look at bitcoin btc. Oh, my gosh bitcoin just broke 63 000 on the minute chart.

Uh, we are about to break all time highs. Uh, absolutely incredible kind of makes me wish. I posted my bitcoin video earlier, but it does come out at about 7. 7 15 is uh when i'll release my bitcoin video, so stay tuned for that that'll be after this live stream and uh uh.

Let's just say: it's bullish, cloudflare down three percent right now as we're getting a little bit of profit taking on cloudflare cardano's sitting at uh, 213. bitcoin futures etf begins trading, did it be it? Let's see, bito yep, bitcoin, futures etf is uh out. We still don't have a relative measure. Here looks like it's uh, it's just now beginning so, oh yeah, here we go we'll keep an eye on on this, how it goes so lucid, lucid rotating down car dealers rotating down a little bit right now, okay! Well, i shouldn't say: car dealers, it's more like car manufacturers, but y'all know what i meant disney down quarter of a percent right now and let's see if tesla is continuing its decline right now, tesla is still up a quarter of a percent sitting at 8.71.

It's trying to hold on to that 870 level. Let's see if it can do it. Uh google sitting up 0.13 percent lemonade went slightly positive again and sophie is dancing around break. Even is this going to be a u-turn right here for tesla looks like we may have had profit taking pressure and now maybe getting some pressure back to the upside there.

We go we're seeing the green very, very nice, very nice i'll, see hippo here, hippo, oh yeah, look at that bounce on hippo right off that 414 oh hold on gary gensler, bitcoin, futures etf to begin trading, but have not yet approved a regular bitcoin etf um. Bob thank you for that question, uh. Just to give you a little context, i think that we in the official sector uh, should be uh technology neutral, but not policy neutral, and so what we're trying to do is ensure to the best we can within our authorities to bring projects into the investor protection Perimeter and so folks, just a quick note, charge point five point: two six percent you've also got a run happening right now on amc up 2.6 futures trading, commission, which i was once uh honored and proud to serve there and that's been four years and some of These applications came in and went effective, as you said, one of them went effective with regard to those products over at the chicago mercantile exchange that our sibling agency, oversees say something fun. I think the important thing here is you've made it clear in the past.

No don't buy beto, especially not to huddle to trade. Maybe bitcoin etf would have you, don't have people breaking into exchanges, for example, you don't have problems with fraud, uh or manipulation. Was that a factor? It seems that that was a factor in the fact that you went ahead and allowed the bitcoin futures etf. You don't have those particular problems here.

Well, while i'm not going to get into any one application or project, i think what you have here is uh a product. That's been overseen for four years by a u.s federal regulator, the cftc and that's being wrapped inside of something that which is in within our jurisdiction called the investment company. Uh act of 1940. so 40 have some uh ability to bring it inside of investor protection.

It's still a highly speculative asset class and uh listeners should understand that uh. Underneath this, it still has that same uh aspect of volatility and speculation uh, but there's uh. Our sister agency has ever seen this uh for four years and then it brings it inside. As i said, uh an 80 year old law here at the sec, let me move on to the gamestop report: uh a usual thorough report from your staff.

I think this will be the historical record of what happened, but i'm curious about the recommendations you, you have been talking, dude the recommendations were trash for order flow and gamification and the potential deleterious effects of of both of these on the u.s trading system. And yet there was no discussion about how this might have impacted the trading uh for a gamestop, i'm wondering if there is some kind of connection. What was payment for order flow? Don't buy veto, a factor in what happens with gamestop or not. The report doesn't say so.

I think that uh, the events of january revealed a number of things and, as the staff suggested for additional consideration, these two topics plus two others uh - that we look out for the investing public when brokerage apps when robo advisors are using new data analytics and and Marketing to us and using behavioral prompts to possibly get us to trade in a way that benefits them benefits the application and the program uh in conflict, potentially with what benefits us. The investing public uh, also uh, embedded in some of those issues or the structure of the stock market itself. It's so much of the market now, as is evidenced in the report in january in these months, about half of the market, is not going to the transparent sort of market that fully lit market that you earlier showed, but it's going to dark pools and wholesalers. So those issues uh the staff - suggested off we're going to take a closer look in terms of what policies can help the public uh chairman.

Guess it's great to have you on the show again uh. I know that uh your position on trying to invest well uh. I read a great book that you wrote about no free lunch, that's why we have diversification, and then i read this report and i absolutely understand it's very thorough. It's got great stuff and talks about how options didn't really affect things.

What did impact and then on page uh, the the last uh notes, uh number two there's this sentence: uh payment for order flow and the incentives it creates - may cause broker-dealers to find novel ways to increase customer trading, including uh, through the use of digital engagement practices. I read this and it felt like a bit of a lamentation. I felt that, right before that, you talked about don't forget: uh companies, uh, underneath the memes or actual employees, customers plans to invest, and then you get to this and i wanted you to be able to say it. Maybe this is unfortunate, because i know that people want uh.

They want to open, have as much engineering financially, but this is not chairman. Gensler, chairman gensler is against any idea that we should be doing these digital engagement practices that might hurt investors. So let me sort of address that i think that we've found throughout our economy uh on platform after platform, whether it's in in streaming apps, retail, apps, uh, various social media that we're in a transformative time. The 2020s is rapidly changing.

On top of the invention of the inter internet, many decades ago, we have data analytics artificial intelligence that markets to each of us a little differently. I mean you might type something in a text and then all of a sudden find you're being advertised, something you type to a personal friend in the text. So those features are all around. What we're raising the question is: is in finance, what does that mean for finance these digital engagement practices? The the underlying separating you from me and from all of us and then if the application's marketing for their revenues and payment for order flow, does have an inherent conflict that the brokerage application is increasing their revenues.

If we trade more and so are they using these behavioral prompts to get us to trade more or to move to different products, options, trading or trading on margin which inherently have more risk in them and where? Where do we, the sec help the investing public act? Uh to help them uh do well when there's these inherent conflicts inside the uh kind of inside the box right. But i i guess what i struggle with is you've got this great moment here. There are 1 million of these accounts belong to investors with an average age of 19.. I think these investors, if they're, focusing on let's say, trying to put together a fantasy team.

I think they're spending a lot more time on fantasy, trying to figure out who who's on waivers tonight uh how to be able to make it. So what what's the line? What's the over they're spending more time, chairman genzler on their fantasy lineup than they are trading? They're trading like banshees, don't we want to encourage them to spend as much time as they do in their fantasy lineup? Well, i think that that investing for the long term tends to have higher returns than day trading or even hourly, trading, and sometimes not always, but sometimes these applications encourage individuals to have high trading volumes or trade on origin or options that have inherently higher uh risks And so that's where uh there's there's a worthwhile public debate, and i think i thank the staff for the sec to serve up this report. I think yes, as you said earlier now, it's the job of the commission to sort through what we do with these additional considerations. Uh, mr chairman, the staff determined that a short selling squeeze was a factor, but it wasn't the primary reason for the big sell-up uh price run-up in gamestop.

It was positive sentiment, i'm reading from the report here that sustained the weeks-long price appreciation positive sentiment, not the short squeeze short covering was a small fraction of the overall buying volume. I guess i'm wondering, though, despite that you've been talking about potential changes in short selling rules, do we need to make any changes? Do we need more, for example, disclosure about short selling? I i think that the markets could benefit from greater transparency, not only on short selling, but a related activity in the markets, which is called stock loan. When you borrow a stock to sell it short congress. Actually, our us congress actually about 11 years ago passed two provisions that mandated directed the sec to do greater transparency in short selling and this related activity stock loan.

So i have asked staff for recommendations on this to promote, meaning that, on a on a regular basis, the market would benefit from seeing the volumes and activity in the lending market, meaning lending securities and also this short selling activity just to follow up on payment. For order flow, most most viewers of the trading activity in the last 30 40 years agree that the american investor has never gotten a better deal. Not only the commissions essentially go to zero, but even trading costs are much lower execution. Quality has improved dramatically in the last 30 years.

I know there's a little bit of debate about exactly how much, but the average investor seems to be getting a very good deal. Can you do you feel you're going to be actually able to demonstrate a real harm from payment for order flow number one and number two: can you tell us what comes next here? You've got the commission with your staff with a very excellent report on the fax, but not a lot of direction about where it should be going. Is the commission then going to meet and make recommendations or make rule changes uh from here? What's the path here forward? After this commission staff report, well, let me say this you're right that our markets have gotten more uh uh to have moved to zero commission, but it doesn't mean it's free, there's still payment underneath these applications. It also doesn't mean that it's always best execution and we've had we've had cases where we've announced in the last 18 months, where there has been this conflict between the broker, on the one hand, and this payment for order flow on the other.

And let me just remind your viewer that if you place a retail market order, as shown in this report, the vast majority of those don't go to the transparent lit markets. They go to the dark market, these these pools that are not competing, and so i've asked staff. Can we achieve this simple concept that your order when you place it competes with other orders and buyers if you're selling will compete to get and to pay you? Hopefully, the best execution for that price order by order by owner. That's what i've asked staff and i think that that's an important concept of competition that helps the investors on one side helps the companies on the other side that are raising money in our markets.

Mr chairman, again i want to praise the staff because those who read this will know there was not a vast conspiracy against them, which was really the topic that i know a lot of us felt. We were really razz by because we were all in on some sort of citadel conspiracy. I think that's completely busted this, but there was something on page 12 that disturbed me. You talk about some in the marketplace.

May possess superior information about underlying assets. That, sir, i think is illegal, did we discover that some had superior information in there for sure should be in front of the commission to find out what that went on? Well, i think that you chose the words carefully, maybe there, but when, when order flow, when when trading is being purchased and sent to one wholesale or another wholesaler, then they have information that the rest of the market may not have at least for a short period Of time and and even milliseconds matter in these markets, and so that's what we're also looking at you're, absolutely right that we, i think from a policy perspective, want to look at that and how we instill greater competition. In essence, for that data, as well as for that order flow, jerry, gensler uh, chair against david faber, here um, you know we had you on not that long ago. Obviously, a long-range interview i wanted to come back to spax.

If i might just for a moment. Um haven't really heard that much from the sec yet, and i wonder where you are because it does appear that the market has been making its voice heard when it comes to spax uh, we are seeing the sponsors uh changing their compensation arrangements. We've seen the pipe market really freeze up uh, and so is the market doing its job, and the sec, therefore, perhaps doesn't have to take significant action in any way. In terms of regulation respect, i i think that there uh is, is a a need here for greater transparency, greater disclosure.

These are, these are uh innovations that have happened in their markets, special purpose acquisition companies, but they're costly, and they may also have inherent conflicts between a promoter or sponsors. Taking generally about 20 of the offering that, if you raise a billion dollars, that's 200 million dollars. Can i repeat, the number 200 million dollars to basically raise money in a blank check type of shell company, and then you have two years to go out and try to buy something and there's also this conflict that if you don't buy something you don't get the Promoter, the sponsor doesn't get that 20, so there's an incentive to buy something, even if it's not the best purchase in the world, particularly as the clock is ticking and you get to the end of the two years. So i know i've said this: a lot about staff working on recommendations.

These these rules are highly detailed. We need to work on the economic analysis, which is so critical to good decision making. They're five commissioners, and so the process does take a number of months and sometimes uh. The public says where's that document or where's that rule proposal.

But i would envision that staff will put something up to our five-member commission and, if, if there's the support of the commission, we'll put it out to public comment with regard to spax. With regard to a number of these other topics, we've talked about as well. Wow. Just uh a follow-up to my question.

The second part you didn't quite answer what's next here, what happens after this report? Does the commission meet uh? Your five commissioners discuss what you want to do. Are you going to make proposed rule changes? I know you have a request for comment on digital engagement practices that are out there. What will become of that? I guess i'm looking for a road map for what you're trying to accomplish here, so the five of us generally meet bilaterally and then sometimes we meet as a group and as a group when we do that. Often that leads to what's called a public meeting and the cameras are on and the like in terms of what's next is staff recommendations on the plumbing.

This is called the clearing and settling side. There seems to be broad support in market participants to shorten the settlement cycle. We are, secondly, assessing the comments that came in on digital engagement. I've asked staff to consider whether there's some recommendations we'd have on those potential conflicts and also better protecting the public and then the third area that was highlighted was market structure, the the entire equity market structure.

We haven't updated it in 16 years since 2005 and i think technology's changed so dramatically that it's worthwhile taking a very close look and seeing if we propose something out in all of these areas as well as short selling, which i talked about earlier. That i would anticipate we propose things, because congress has told us mandated that we need to to in these four areas i'd envision as staff is debating it, commissioners will weigh in and then, if we think so, we'll put it out to public comment uh. My my hope is that we put it out and have a lively public debate and see what's best for the markets and for the investing public. Mr chairman, on page 12 uh page six, in order for a customer to trade options broker, dealers must conduct due diligence that option trading is appropriate for individual customers.

Sir robinhood has millions of customers and there's no way they're doing that i mean. Isn't it time we examine that process? Well, so it's this. Is that one of the challenges that to get greater access, our user interfaces on our mobile phones have made it very efficient. But then the question that you've just raised is also appropriate.

Is somebody on the other side looking as to whether doing the due diligence, as you say about that customer opening a higher risk account an options trading account, for instance, or a margin trading account, and i i think the staff appropriately flagged this issue. Mr chairman, i want to thank you for coming on uh and giving us your thoughts and we very much appreciate the work of your staff and laying out the facts. And obviously this is a very important historical document in terms of what happened and we look forward to having you on again soon to let us know what the next steps are: gary gensler, chairman of the sec, thank you very much wow. That was uh.

That was pretty incredible. I mean we got a lot a lot of things out of that i mean uh short selling uh, basically, anticipating uh, more more disclosure, more transparency on short selling, amazing, more disclosure, big thing, also looking into obviously payment for order flow. A big complaint about payment for order flow having to do with uh the fact that uh there's this real potential conflict of interest right then uh. He really slammed spax pretty hard says that spax are costly and that sponsors often take 20 in fees.

You raise a billion you're, paying 20 200 million in fees and the promoters basically incentivized to to find any deal. Uh then, you've got uh dark pools that he slammed saying the majority of market orders going through dark pools or not competing against other orders which hurts pricing, competitiveness, bitcoin, uh, btf uh. You know he. This was a big one too.

He kind of implied that with a bitcoin uh etf, uh, well the he. He basically suggested that the bitcoin futures etf was approved by the cftc, because the sec and the commodity futures trading commission had been reviewing these projects for a number of years and for what? It's worth the grayscale bitcoin trust has been operating since 2013 and they just applied to become to convert their fund to an etf, pretty bullish. What's not bullish, though, is tesla. Tesla is slipping here today.

It's falling off my chart right here at 865. Right now, uh - probably a lot of shorting happening before the uh um. What's it called before earnings tomorrow, it uh it kind of seems to continue to get pressure to the downside here and uh yeah anyway. So um, let's see what else we have going on here.

We've got uh, let's see how the day's evolving here, crisper therapeutics, bouncing back up to its backs are transparent as mud no kidding huh uh, all right, so crisper therapeutics running very nicely up 5.12 charge point running 4.7 here a little bit of volatility here, but really Nice run on chargepoint love, seeing that run on chargepoint very nice end phase up 3.61. Let's go and phase uh love end face awesome, awesome, awesome, 3.6, very, very good baba. Moving on that uh chip partnership with arm very nice, 3.55 matterport 272., no particular news. Neo 2.3 johnson johnson beat earnings uh.

Well, i mean their fiscal year. Guidance was was more bullish. Their revenue was tiny. Little miss coinbase only up about 1.84 here, really kind of pulling down after their uh enthusiastic partnership announcement with facebook, google sitting uh sitting trapped kind of around a half percent here looks like with the other market kind of chilling down a little bit a little bit Of relaxing in the market here, you've got uh looks like the spy kind of bobbing around here, not not really making any defined action to either side at sea up a quarter of a percent to 228 right now and uh disney sitting right.

I mean some of these are barely red here, robin hood, probably on the payment for order flow comments. Tesla down about point. Six percent here continues to dip right now, uh, so uh, you know, keep an eye on that for shorter term options. Then uh we've got uh, let's see what else we have here.

Let's take a peek at and let's jump on over here into. Let's see what do we got? Well, nothing really to cover here see if i can pull this up. Nope can't pull this up. Trying to get bloomberg up, but it's not working uh, let's run through another stupid ad.

Alright, we'll jump on over here, really quick who is live from day two of the milken institute global conference, in los angeles back above 4 500. This morning, as we are definitely wading into uh q3 earnings, proctor, j, dover and a lot more morgan, yeah and speaking of that, we are 30 minutes into the trading session. So here are three of the big movers we're watching and there are quite a number of them, but we're going to start with kansas city, southern reporting, mixed results, after earnings missed and volumes dropped, three percent, the freight railroad suspending previous guidance due to a lack of Visibility. This is thanks to auto plant shutdown, service interruptions in mexico, refined fuel products, supply chain disruptions ksu, which, as of last month, is now merging with canadian specific uh sliding down about half a percent right now, dow component travelers mean time is higher.

The property casualty insurer reporting a drop in q3 profit, but still beating estimates thanks to returns from its non-fixed income portfolio that offset a jump in catastrophe losses you can see. Those shares are up more than two percent right now and finally watch coinbase facebook choosing the cryptocurrency exchange to partner on a digital wallet, the stock, also buoyed by bitcoin, which is now hovering just below its all-time high. That was hit back in april as pro shares. Bitcoin futures etf begins trading this morning as well coinbase, now up one percent coming off the highs, we saw a little bit earlier carl, a six-month high there on coinbase, interesting uh that bitcoin etf, just one of many topics covered last hour with the chair of the Sec marbassani did the interview with david and kramer, what a conversation and and about the future of who, what investing should be yeah.

It's very interesting because he really drummed up this report as some kind of summoner all right. Let's pull off of this here. Let's go back to uh what else we've got going on in the marquette over here, so uh, crispr, uh, okay yeah, for what it's worth by the way just want to give you a quick reminder to uh check out the programs link down below on building your Wealth also make sure to uh, with that coupon code expiring on the 29th also make sure to go to uh metcalvin.com life to get life insurance in as little as five minutes and met kevin dot com public to get a free stock, valued up to 70. Okay, take a look here: we've got charge point still up: four percent nice little move here; crisper up five point: four two percent and face up three point: three percent: very nice alibaba up 3.2 matterport 2.86 uh, really good moves here, overall, macy's.

After being up 17 percent softening, though a little bit about four percent of the downside cloud flares had a pretty big run here, dropping about 3.7 today, so a little bit of profit taking today look at some of the ones that have been running so far down About one point: three: nine percent uh firms down about one point: four: four percent peloton down about point: nine: four percent tesla's really bouncing around that negative sort of uh 0.58 percent - really got a lot of potential negative attention here on uh earnings. I've got a lot of long options on this. One uh we've got corsair actually just went down. We opened up positive on corsair and corsair.

Just went uh moved to the downside. You've got owlette sitting at .31 to the downside. Some things are moving a little bit to the downside here that were up etsy, for example, was up now moving a little bit to the downside, so possibly a little bit of softening in the marquette a little bit of softening here, and s p, kind of just Dancing around hasn't been moving much at all. Let's look at the uh cnbc chart here.

We've got yeah the dow jones softened a little bit smp has been stable, nasdaq softened a little bit russell 2000 about a quarter of a percent they're all still up about a quarter of a percent so doing very nicely. You've got uh, dave and buster is actually rotated to the upside about half percent, very cool and uh. What else do we have here uh these are: these are all the stocks. The downside here lemonade down a couple of percent right now and what else do we have here? Tesla's really bobbing around this 865.

So it looks like you're getting a temporary support, possibly around this 865 level. Uh looks like you're popping off again a little bit here, which is nice, keep an eye on this. We did have a little bit of a run up over here and it just kind of led to a continued little bit of a shell down here. Uh not a surprise after the insane runs that we've been through to end up running into a little bit of a red day, especially since, if you look over here, we've got this resistance level sitting at 880, and it's not a surprise at all that we pulled.