Well, don't sue me, but the stock market rally must end morning. Everyone, it's papa j pal, also sometimes known as meet kevin. Today, we're going to talk about the stock market. Take a look at these rich asset valuations here, as the dow jones futures are up.

0.36 percent s p, futures up 0.26 percent nasdaq futures up 0.13 oil. Also up, that's not good. It means we're gon na have to look at that. Taper, coming up this week this week, be meeting with fellow board members about that taper and we'll have to write a prescription for uh, reducing our bond purchases, but anyway brent uh, almost at 85.

Again and let's go ahead and take a look at what stocks are doing so uh we've got a lot of movement here in lucid, specifically, lucid had its delivery event. This weekend, they delivered about 520 vehicles out of 1000 vehicles that i expect to deliver this uh. This year i was not part of that delivery event. I do have a reservation with them, not exactly sure why i do.

Quite frankly, i like never drive, i just print money every day. Oh that reminds me yes. Ah, there we go much better, okay, so um anyway, yeah yeah, i mean valuation, pretty stretchy i'd say over at lucid. But then again, if you compare it to tesla and uh the the you know, the valuation doesn't look that bad at all.

But then again, that's what folks say about uh x, bing and lucid as their xp and neo as well uh and you are seeing xping move today x, ping up 4.27, see, though, where neo has been they've been lagging a little bit. Yeah look at that. Neo is actually down 3.6 in the pre-market. Neo is the one out of all the autos.

That's really lagging right now down another three point: five, eight percent: after having a red day on friday as well owlette moving up about six point, one: five micro, vast, nine. Two two matter: poor, look at that another 5.44 here on matterport on uh, the metaverse talk nvidia up about .42, so slightly green on nvidia. Take a look at this facebook now uh having a little indicator here that they are going by meta platforms, meta platforms, inc, uh, let's see here, somebody says: deliver a loose delivery event was understood to be 65 cars. Oh, they mentioned that the plan was first 520.

So i don't know about that. Maybe they only publicized uh that, but i actually that wasn't there so who knows, but let me see here, lucid uh, so starting production with our 520 dream editions. First uh yeah - i don't know if they didn't then deliver the full 520. You might be right about that uh they.

That was uh at least what one of the rumors. Well, maybe it's 520 dream editions first and that that's the goal for this year, maybe you're right. Maybe they did deliver uh a smaller amount. This weekend i was just even crazier that if the stocks moving off 65 deliveries but hey uh, all right so uh in phase up uh one point: six, eight percent here in the pre-market, uh etsy point one six, not much of a move here.

Let's look at the downside, uh, what's uh, what's going down here, so backed holdings was up 66, giving back about seven percent right now going back under forty dollars here, not a terrible surprise to see a little bit of a give back after a large run like That uh fun and down a couple percent d, whack down uh two and a half percent here, not a lot of red, though uh of the red uh, really the the ones that are pulling back. With the exception i mean, neo is the worst here because back to the crazy ron, neo didn't, but otherwise the market is vastly green. Uh amd lagging a little bit here down a third of a percent, a lot of stocks flat, but otherwise, mostly green market. Here and the question now is uh will: will the stock market rally potentially end will will the stock market rally continue uh or or what do we think in terms of uh the potential uh for uh this market to continue moving on uh and i have to Say i mean we remember september folks, remember the pain we had in september and it's so important to look at that uh that period of time, because if, for example, you weren't buying the dip, you've got to look and ask yourself why? Why not right? Look at the pain points that we had.

The government was expected to shut down. We feared the fed taper. We were coming up against the debt ceiling crisis, we feared uh the evergrand default uh and and then we had multiple other sources of more modest uh drama but uh plenty, plenty of uh drama events that happened in september and all of those have have really been Kicked down the road or have mostly evaporated it. It's expected that perhaps the next catalyst might be when all the board members at the federal reserve, including myself as jay powell, end up meeting this week that in announcing the taper this week, that maybe the market might have some jitters but uh.

Realistically, the market seems to be almost cheering the taper uh, and i know that sounds really odd, because generally, we think okay, if interest rates go up uh and we you know which, which happens, potentially sooner after a taper you taper. First, then you raise interest rates. You wouldn't do both at the same time, then uh that would be potentially bearish for the stock market, but then uh individuals have uh and market participants seem to have been very excited about the potential for uh rates, going up actually a little bit to taper, uh Or to temper inflation, and if we temper inflation, then that would be good for uh tech stocks. It's almost like this.

This bizarre bizarro land, uh rotation we have in in the stock market and it's wonderful uh. It is a very nice end of the year. Uh rally and uh really short uh. I don't believe this week's taper announcement is really going to be a negative catalyst uh.

We do have a jobs report coming out. Uh this friday that'll be a catalyst and we have cpi data the week after, but uh earnings. So far, pretty good, well earnings, definitely not a negative catalyst this year, and as long as we don't end up having a government shutdown towards the end of the year, uh, which there there's almost certainly going to be drama over the potential for a shutdown towards the End of the year, but aside from actually anything happening, the market rally could last it could just continue to go so anyway, all right, let's see uh what else we have here so microfast now, okay! Well, this is pretty stable right now, it doesn't look like we've got any large movers here beyond what we've already taken: a peek at uh cardano's sitting at 195, bitcoin 61.8 ethereum, 43, 46 and doge at uh 27 with uh sheep sitting at about 73.. Okay.

Let's take a peek at some of the headlines that we got thing going on here, all right. Let's see here: okay, there we go okay, so, let's see yellen dismisses treasury market jitters sees solid recovery treasuries tapering seen outpacing fed with one trillion in cuts. Powell risks return to 1960s inflation from confusing jobs market nope. Definitely i i resent this in the late 1960s u.s economic policymakers misjudged how hot they could run the jobs market without fanning inflation.

Nope not worried about it. Just don't worry everyone. We won't have inflation, it's transitory, it's just taking longer to to be transitory. That's it so we're calling it transitory.

Eventually, anyway, this article references, the 1960s, which basically led up to this roaring period, uh in the 70s in which we had essentially hyperinflation, leading to the uh massive rate hikes in the uh mid to late uh 70s and the uh uh, the the volcker massacre. So to speak anyway, now some economists are wondering whether the federal reserve, a chairperson, drum pal. That's me, don't sue me bro and his colleagues are making the same mistake. Nope.

They they've aggressively they're aggressively pushing for a return to pre-pandemic labor market of half a century load joblessness. Despite widespread worker shortages, we could hit full employment earlier than people expect. Fed policy makers meeting this week are expected to decide to scale back yep we're going to be, or so we say, powell acknowledged recently. The risks to inflation are clearly the upside, but stuck with his base case that price pressures will eventually end and supply kinks uh.

As supply kinks are worked out, hell yeah, we can be patient in raising rates and allow the labor market to heal yup. Let's see here very tight. Okay, my expectation is that jobs growth moves back up closer to higher levels we saw last summer and reopening of the service sector continues. First test will come november 5th, with the release of the october jobs.

Numbers payrolls are expected to show a 450 000 job gain. Bigger than september's 194, but below the 1.03 million monthly average in june and july, according to median forecasts of economists surveyed by bloomberg, hidden shift, the risks for powell is that covet has brought more lasting changes to the jobs market than he apparently believes, making it difficult To return to pre-pandemic levels, without spurring inflation, some service sector jobs may be gone forever from downtown restaurant workers, who used to serve fully staffed office, buildings to maids and hotels, no longer packed with businesses and other travelers in nevada, where joblessness is seven and a half Percent, we do know that there are about 50 000 jobs that are just not coming back says. The director of the department of employment crime prompted some americans to permanently leave job force, a lot of definitely a lot of retirements. That's for sure, yeah, staffing agencies.

Unemployment is higher based on service industry. Okay, let's see worker demands more money. Okay, interesting well, we'll see, uh we'll see what ends up coming of these uh labor shortages and if we end up seeing the labor shortages, uh persist. Uh jobs report this uh this friday will be a big tell do expect the taper to begin at about a 15 billion dollar a month, uh pace that does put us on a schedule for completing our taper somewhere around the middle of june july of next year.

Lucid doing nice uh almost really bouncing off 40 over here. Take a look at this: let's go to 30 minute here, yeah cross uh for a moment here, but really - and right now has been bouncing off. 40's well. 40 is a rough number, for it wouldn't be surprised if at the open, potentially we end up breaking through 40.

matterport as well by the web. Look at matterport up 5.35 really. Nice runs here on talk of the metaverse. What's this breaking news hold on a second? Let's listen to this for a second after the bank was made aware of the results of a probe by uk regulators, the fca and the pra into the way he described his relationship with sex offender, jeffrey epstein and the fact that staley, oh well, that guy's gone.

But not necessarily the news that we really care about here, so uh, okay, now so something to have i paid off my margin. Are you asking jerome powell if the debt has been paid off? The answer is a hard. No, i printed more um uh. How are all these people surviving with no jobs? Well, here's the thing you had a lot of two family households, uh that uh or or uh two income households, rather that we're both working and uh a lot of folks uh own real estate.

A lot of folks have retirement accounts and - and there are a lot of folks who are close to retirement - that obviously retirement accounts, the pandemic exploded valuations in both real estate and the stock market, making it easier via the wealth effect for folks to feel like they. Don't necessarily need to have a dual income household anymore, so it's become easier and more acceptable for a lot of families to say. Well, let's just have one one less person working and we'll do something else. Study for a new job start a business, whatever business creation by the way is up 50 percent uh year over year, uh and even compared to 2019 uh we're uh well, actually, that is compared to 2018., we're compared to 2019 we're creating 50 more businesses every single Month than we ever used to create so business creation is, is just absolutely booming and i think the wealth effect has a lot to do with it, so uh yeah uh, yeah yeah.

No, i i saw this regarding squid, let's, let's do a quick little brief talk about that. So uh, don't sue me bro, but a few days ago we talked about the squid games. Token. We talked about how it was uh, very, almost certainly unaffiliated with netflix.

We talked about the multiple spelling and grammatical area errors in their white paper. We also did the math about how disastrously essentially impossible. It would be uh to get your money out of of basically the squid game token, and the reason for that was very, very simple. In order for you to make money the goal of the squid games, token uh was for you to play the squid game with 456 other players.

But in order to play the game, the squid game, you would have to pay an entry fee of uh 456 squid, which at the time of the recording, was like 5 300, which is insane. I mean you would almost need 200 000 to play the game which is the opposite of of being affordable, which was kind of the whole point of the squid game right anyway, you would play these rounds and you would have this one in 456, chance of winning And while playing you would have the opportunity to earn marbles but marbles were really important because marbles would allow you to sell your squid tokens. So let's say you invested two hundred thousand dollars to play the squid game. Uh.

If you lost well, your 200 000 is gone because you lost it playing the game. If you won, you would need marbles to get your squid out, but in order to get marbles you either have to buy them or you have to play the game. But if you play the game, you've got a very large chance of losing one. I mean you have a 455 out of 456 chance of losing right.

So if you try to get marbles by playing the game, you're gon na lose all your money playing the game, because the odds of uh winning are less than one percent substantially less than one percent they're less than one-fourth of one percent. Okay, uh but marbles. Have this really weird uh burn affiliation, where, where essentially uh, if you wanted to take out, for example, uh well at the time we did the math. If you wanted to take out ten thousand, oh, i got a little border there.

If you wanted to take out ten thousand squid at a value of uh at the time like eleven dollars per squid, that's a hundred eleven thousand dollars. You would essentially have had to bought marbles uh uh worth about well 20 000 marbles, which would have been a cost of 66 000. So you would have lost another 50 of your your money just trying to unlock the ability to sell. I mean this is like the the most horrible kind of cryptocurrency ever where, essentially, they trap you into a game where you have uh less than one quarter of one percent chance of winning.

And if you want to sell uh, you have to spend a god-awful amount of money just to have the right to sell or play the game where you have a less than one quarter of one percent chance of winning and that's in addition to the spelling and Grammatical errors, the fact that coin gecko called them a scam uh, you know everything about the squid game. Token seemed like a complete scam, so this token kept going up and up and up it would just not stop going up uh and it was. It was pretty incredible and the problem with that, when something keeps going up, is people have this impression that when things go up that they're safe - and that is wrong - this is something we talk about regularly in the stocks and psychology of money group that when something Goes up, it is not safer, it is riskier, and this is something that's extremely important to pay attention to when prices go up. Risk goes up and so worth noting that uh that the squid token here uh has uh on on coin market cap has had a little bit of a price shift uh, let's say so: i'm gon na go ahead and show the last a month here.

Actually, let's just go to the last seven days: it's probably a little bit more relevant there. We go okay, so uh in the last seven days here. Take a look at: what's happened to the squid token, so the squid token here ran uh from about 10 cents to two dollars to five dollars to 11. This is when i made the video calling the squid token a scam and encouraging people not to invest in it yeah, because of how difficult it would be to actually get your money out like.

Even if you did win, you would just be backed into a corner again of trying to actually get your money out right. I went to 13 14 folks. It exploded them it 3xed again after i made my video calling it a scam. It 3x to 32.

This saturday and then it kept going and kept going and kept going and kept going. It literally kept going look at this. It ran all the way to uh 38 and then folks, look at this. It ran up to 89 89.

The squid token ran to that's eight times. That's an 8x return so had you invested when i called it a scam, it would have gone up another 8x, but then folks, the reckoning. A 99 decline. Wait, i'm sorry a 99.99 percent decline.

It is now worth one. Third of one penny: the scam token is no more look at this. It ran all the way up to it actually ran. Oh, my gosh, 628.

1700. 2800. Look at that in a matter of five minutes or that's about 15 minutes here, a matter of about 15 minutes. It went from 625 to 2800 and in a matter of about an hour and a half went from 38 dollars to 2800 and uh then basically evaporated.

All that money is gone so whoever created this scam really just made off with um, i would say somewhere around. I mean it's tough. To say i mean the 24-hour volume was around 14 mil uh. You can't really go by the valuation, because uh the valuation implies that they're able to liquidate all of the coins at a certain price, which is obviously not gon na happen uh.

So, but the point is any anybody who put money into this has lost money. So if we look at gosh, i feel terrible about it, but if we go back here to uh but then again i don't because it's kind of like i mean the writing was all over the place right so um yeah, i mean you had you had 24 Hour volumes of somewhere around 10 million dollars, uh geez it's difficult to tell how much exact money was thrown into this, but i would venture to say there was probably somewhere between 10 to 50 million dollars thrown into the scam, uh and uh. Anybody who, who bought into the scam has obviously lost their money. I mean you were basically throwing money into a chinese, handcuff, uh and uh.

Now now, whoever created this has cashed out and they can probably retire pretty well here, it'd be very interesting to see where uh, where the money ends up going. What ends up happening here, uh with this money, you could see uh, it looks like money is being transferred out of it substantially. Yeah look at this one minute ago. Look at this tokens like crazy uh are being transferred out.

Uh would look like out of this. Address it's a little difficult to tell here. Oh now, it's been listed as a heist. Look at that they've labeled it as a heist uh, where a notable amount of ethers or tokens have been stolen.

Oh 40, 922 hodlers! So imagine 40 000 people wanting to change their lives with the squid token and let's say they each put in 15 dollars. Just as an example, there's no way, that's 600 that'd be 613 million dollars. Uh yeah, i mean oh, my gosh, that's uh, certainly much more than i that i would have anticipated uh if that uh, if that was the average amount, but i mean let's, let's even take a couple. You know take, take a take a number away here.

That's about 61 mil here if everybody put in hundred dollars on average, maybe that's probably more of a an expected average fifteen hundred or maybe even less, you know even a hundred fifty dollars. The point is it'd still be. Somebody still made off with millions upon millions upon millions of uh of of dollars here, huh yeah, yeah yeah all right. Well there.

It is all right, that's unfortunate, but that is uh. That is the result of a pure scam and it was uh. Very very i mean the writing was all over the place and it's unfortunate to see that but uh anyway uh, okay, that is the squid token. Buyer! Beware: when you look at potential alt coins, they do not have to be legitimate at all uh anyway.

Looking at the rest of the market, here, we've got uh bitcoin 61.8 ethereum 4345 cardano 197. sheba at 72 dogecoin 27.. I also have uh axe infiniti 137 trons about 0.1 uh decentraland moving here at about 338 and uh hbar sitting at 39.. Okay, let's go ahead and see what stocks are doing: lucid: six and a half percent good job, lucid wow, six and a half percent here still knocking on the door of that 40.

matterport. Oh, my goodness, another six percent on matterport - oh lucid, just jumped here. Oh, we just updated eight eight point: one percent here on lucid sitting right at 40, now matterport's, actually at seven percent, very nice tesla uh tesla sitting at two point: seven one percent at eleven, forty four, oh, my goodness, uh d wack is down six point. One.

Five percent - oh sorry, that's those are the warrants. Uh regular d wack is down 2.86 percent neo still down about 3.4 percent. On news of that likely on news of that uh factory uh, one of the lines shut down yeah, it's not so good they're, not navigating the supply crunch anywhere, nearly as well as tesla is etsy 0.12 downside wayfarer appears to be flat, dave buster's relatively flat, but On the green side win sitting at 90., let's see what else we have cloudflare slightly up again: 0.4 tattooed chef up 0.45 at 18. paypal, tiny little green gosh paypal's really been lagging with a whole pinterest disaster, corsair gaming at 0.65, draftkings 0.92 macy's up just over A percent tesla sitting at uh, 11, 45 right now up 2.8 percent and uh yeah matterport seven and a quarter percent, not bad, not bad at all and lucid now, sitting on forty dollars.

Congratulations lucid all right! So, let's see what other news we have here! Oh somebody donated ten dollars. Well, thank you. It kept going after you called it a scam because scammers were burning the coins every time they pulled out liquidity, uh, probably the marbles uh, making it harder to get access to uh to those marbles right, because the marbles are what burned uh, but the whole thing, Like you say was just a fraud anyway, so i mean who knows how the metrics honestly worked in reality. It's a disaster uh very sad, very, very, very sad, all right, so we're getting ready for the opening bell here all right.

What else do we have? Let's see quickly how the indices are doing, as we have about two minutes going into the opening bell, everything's up roughly a quarter if anything, technology is lagging a little bit. Today, chinese china developers dollar bond sales fall to lowest in 18 months. Well, yeah. That makes sense uh china's gang gond wins deal to supply tesla with lithium products, well good for them, mystery of who invented bitcoin, hangs over scientist trial, cool coca-cola's, buying the rest of my okay, all right.

What else we have here? What china locks? 34, 000 guests inside disneyland for kovites what, while thousands of visitors to shanghai disneyland on sunday were queuing for roller coasters and watching fireworks above the fairytale castle staff quietly sealed the amusement. Are you kidding me? What is this? Oh, my gosh. That's like communist yeah! I i know it's the ccp okay anyway, while thousands of visitors to shanghai disneyland on sunday were queueing for roller coasters staff. Quietly sealed the park, people in hazmat suits streamed in through the gates preparing to test everyone for covid before they could leave for the day.

Nearly 34 000 people at disneyland underwent testing which ended close to midnight long after festivities at the park are usually finished, ferried home on 220 special buses all were found monday to be negative all but are still required to isolate at home for two days and be Retested in two weeks, the shutdown of walt disney's, most lucrative parks, came after a positive case of a woman who traveled to shanghai from near how uh hangzhou over the weekend, officials were yet to confirm whether she visited disney. Her infection sparked an aggressive contact, tracing effort across china, which eventually ensnared the park goers and their families and disneyland staff holy moly. Could you imagine that oh yikes, all right, let's get the bell folks! Well, i just forgot it's monday and i had a you know: kind of a squid-like weekend and suddenly uh here we are look at that green. That's about eighty percent green there in the market, wow wow, wow uh, that is purdy dang green, oh yeah, yeah! Okay: let's go ahead and see how things are performing at the uh.

The opening bell here, especially lucid, tesla matterport. Let's take a look at them here, matterport hanging out at about six percent here, so slightly red there on the opening bell does look like: we've got lucid slightly red on the opening bell as well: mata uh, sorry. This is x ping here. Four point: eight four percent: this one's slightly green here on the opener toast, is going green on the open.

Tesla is uh going green on the open. Look at that tesla 1150. That's an all-time high! Congratulations! 1150 has been hit uh! Oh, we did hit it pre-market. Okay, we hit 11 58 in pre-market, but uh in real-time market time.

We have hit 11.50 with proper liquidity that is uh. That is still something to celebrate: okay, so good job. Let's see here, downside backed holdings down about 8.5 dq energy 3.14 to the downside, amd 1.6 to the downside, zillow uh down uh about point nine six neo neos manila must be recovering here. It's only down point eight well, yeah yeah.

Look at that folks, neo picking up again, uh neo picking up very very nicely as it's kind of been left behind here from the ev rally. If you look at almost all the other evs, it's the one, that's being left behind, affirm turning right here at about 160.5 rotating down google down about two-thirds of a percent sheep's sitting just below 73-74 owlette 5 matapor back to percent here, where'd uh, lucid just fell, Lucid just dumped a little bit here. Look at the attendees being taken here on lucid folks, looks like uh s, p, dow, by the way, just hit record highs snap upgraded to neutral from cell at the citigroup yeah wow. This is incredible: nasdaq 15521 s.

P 4618. Dao 35. 986. Almost at 36 000 on the dow wow.

Look at that sell candle there on lucid 38.80 right now, uh matterport, holding on to 10ds. Here, 8.7 percent whoo! Let's go! Ah! That's really good super exciting, so nine percent now on matterport as it moves on excitement over the uh metaverse. I honestly think i mean there look. There was somebody who went on this like rant on twitter, about how the metaverse is.

Is gon na be like this? This, like transcending, where uh you know the metaverse, isn't a place, but it's time and it's like the digital world is gon na become more important to us than the physical world yeah. No, i ain't there. Yet! Okay, i'm not even remotely close to that. Like i hear that, and i'm like yeah baloney like take your baloney and and you know, keep going and doing something else and joking somewhere else, but that that's that's not not where my head is my head.

Space is much more that some of the first uh sort of virtual reality interactions that i think are actually beneficial that we can make money off of is let's say you matterport scan your house right now and you pay me and you're like hey kevin. Do a do a tour of my house and i put on my goggle or whatever, and i can like walk around your house like that, would be cool. I could walk around your house and you're like yeah. I would do that.

I would do this. I would do that or whatever from from an investor point of view right, i'm not a designer, but from an investor point of view. I think that that is a very real practical application of both uh sort of the virtual reality world. The metaverse, augmented reality virtual reality, uh and i think matterport's gon na be a pioneer in that space, which is very exciting but uh, but in terms of some of this other stuff, i think it's it's it's pretty pretty crazy, so uh, okay, uh.

Okay. So, let's see here, arcimoto up almost four percent sofi moving up again: spotify lordstown motor. It's all about three point: eight percent there, including stuff i base up about three percent expi 254. Very nice uh.

Let's see end phase 1.82 wow end phase keeps going here very nice, uh 236, here on end phase g is almost 100 more than what we paid for it like a month and a bit ago, a firm down a couple percent chillax and relaxing a little bit. Neo's back down about 1.4 cloud flare, actually down one percent rotating down a bit alphabet down point: seven: two: a little bit of softness coming there and detect. Let's listen to kramer just for a moment, see what he's got to say holes a lot was packed. Was it his pack, but what's on the shelves is also, i don't know, and then you've also got this issue of.

Is it worth advertising when you? Actually, i don't have any good inventory uh, and that is an issue that seems to be concerning as well. That's actually a good point. Is it worth advertising? If you don't have inventory? It's true, you know you don't want to get customers and they go. Oh just kidding.

You know uh interesting, all right, so honey, mining's down fractionally here, uh, all right, uh, sheep. Moving a little bit here, she just moved a couple percent matterport sitting at almost uh 11. Now, that's pretty incredible x, paying 5.55 fisker eater nicola. You know it's something when nicola's up five percent.

I wonder what they've been up to honestly: uh tesla chillaxing a little bit there back to 11 34 popping off that 1150 high there etsy 2.61 percent to the downside ouch. This is etsy rotating down a little bit here, 244, still pretty incredible and uh a firm uh sort of spending here, sort of a consumer spending down potentially a little bit avoid just sort of the way the sectors are moving here, see amazon and some of these Others rotating down a little bit square payment processing. Okay, let's uh, see what else we have in terms of news all right. Congratulations, sarah making 9k on the matterport opening! It's awesome, all right, jeffrey epstein! This is uh all right.

Let's see he bank of america to apply uh to set a brokerage in china, okay, um, okay biden spokeswoman diagnosed with coven after skipping trip, not sure what that means after skipping trip, but anyway, wall street is amassing a crypto army and paying up for recruits. Okay, texas, abortion law goes before the supreme court uh. That's not a real child right there in case you're wondering okay. Oh another stock market melt up has begun the melt up still bitter on nicola.

Well, i didn't lose money on nickel. I made money on nicola, but uh nicola was a crisis. You know nicola was just uh the the definition of uh. I mean you could almost go as far as saying fraudulence back i mean it was just all drawings and hopium, but then again maybe that's just what a lot of spacks are.

You know, as is there's no business, they just they go public on on vision or whatever. That means you can take your billions and take off whatever is sheep? Moving, let's see here, yeah uh sheep's moving a little bit here. Oh yeah yeah. Look at that very nice move here, uh on sheep, very good.

It's going back to the five minute here, yep breaking out a little bit breaking out to the upside here. Let's see if we end up getting to 75 here but uh. This is uh. This is kind of what we were expecting is that we would get some form of a breakout uh soon and uh.

That's what we're starting to see here! Well, okay! So what else? Uh etsy's down almost three percent a little bit of a rotation of the downside. Here, two percent on a firm, that's holding on back, holding almost down twelve percent peloton down one percent. Well, i does anybody have insight into why peloton would be partnering with um. What's it called? Why would peloton be partnering with here, um immr they're, a haptics provider for like vibrations, and things like that right, like things you feel on your phone uh sensation anyway, why would peloton be partnering with them? I wonder if it has to do with their new um.

What's it called uh strength, training products who knows, i don't know, but very, very interesting, all right, uh wow matterport now, 12.76 incredible. I did post a thorough video this morning on sheba inu. If you're wondering about some of the rumors, you could see a little breakdown that i did so watch that video. If you haven't yet look at this folks, sofi up 6.05, which reminds me if you want to buy stocks and get up to seventy dollars in totally free stocks, go to medkevin.com public, go to metcalf dot com, slash public, get up to seventy dollars and totally free Stock uh, i think they might have even extended that a little bit higher, merge, kevin.com public and uh yeah earn free stock.

There you go so uh check that out, go to mackevin.com public. You can earn a free stock and uh. You can follow me there as well at me kevin all right. What else do we have so the russell just turned negative? No, i'm sorry! That's not true.

The russell hasn't updated, yet the russell's going to update in three minutes. Sorry, i thought it was already 6. 45., it's not okay! Just looking at the terminal here see if we got any big movers here in terms of news, no, not necessarily right now. Okay, all right! What else see if we get some other news here, financial times, all right, barclays? Okay, we talked about that briefly saw that we saw the supreme court huh u.s warehouses running out of space as containers pile high.

Now that is interesting, see, remember, folks, we're going into this time where we think it's potentially true that, because of all these shortages that companies are over buying, okay, when companies over buy they're doing so, because they're frustrated of shortages, so they're double and triple ordering what They actually need to make sure they have enough of a stockpile, but that means they have to stockpile it somewhere and store it somewhere and inventory it somewhere, which actually creates inefficiencies. Because, anytime, you inventory stuff, you lose stuff, you damage stuff stuff gets stolen. It's a disaster like get stuff off the shelf having stuff on the shelf is is very, very, very bad uh in in business. This is why we like just in time inventory, but that whole concept got screwed uh during uh during these pandemic shortages, but anyway, look at this financial times.

U.S warehouses are running out of space as containers pile high. Let's take a look at this containers this by the way, could lead to deflationary pressures. Right containers piled high, the port of new york and jersey form attention-grabbing views. Okay, the facility is one of eight okay, whatever let's uh, let's get here to the point, he has a team of employees and real estate agents urgently searching for more space rebounding consumer demand has led to record imports through us ports on both coasts and strained.

Every link in the supply chain after 41 years in the business, this particular person has a unique vantage point over one of the worst of the bottlenecks that executives and economists fear could derail the us recovery demand for space and demand for people have been the greatest. I have ever seen wow in 41 years, all right, adding that he has been inundated with calls for new customers, but has had to turn many of them down to prioritize existing customers, and this uh. This particular person again is uh a warehouse, a warehousing facility for containers imports at the port of new york and jersey. The third largest in the country were 26.4 percent higher for the year to august than in the same period in 2020.

The warehouses where those container loads would normally head first before being distributed, are struggling to cope nationwide, industrial vacancy hit, a historic low of 3.6 and third quarter. You know, i have to say i would not have expected uh industrial vacancy to plummet if the pandemic - okay, ism manufacturing by the way uh just came in it, looks like it came in at 58.4 versus uh. 59.2. Oh yeah! Here we go it's on cnbc now as well.

The final read will end up 58.4 58.4, which happens to be the lightest read of all of 2021 as a matter of fact to find a line. Now this is interesting. The manufacturing index uh that potentially implies a little i mean any number over 50 - is still growing, like expansion uh, but uh as cnbc just mentioned. One of the lightest reads, which kind of potentially makes sense that you would see some slowdown in the insane ordering that we've been seeing for factories and manufacturers because of of so much double and triple pre-ordering.

That has been done and that's why we're seeing these insane amounts of storage and storage issues these these shipping constraints. All of this take a look at this somebody here, christopher writes, warehouse problem is driven by the rise of new 3pl like shipmonk, ship, fusion and others. They're grabbing all of the urban near urban warehouses uh. Well, thank you for that.

Thank you for that that insight. So anyway, uh back into this here, according to cbre, let's see here: okay, that's the 3.6 industrial vacancy in the three markets closest to the new jersey port combined vacancy rates. Just are just 1.5 percent. The leap in demand has collided with a sector that has not invested enough to build capacity for months moments like this warehouse operators say they face shortages of everything.

They need to run their facilities efficiently now from racks uh to balers to forklift trucks. This by the way sounds bullish for plug plug power. Does uh hydrogen powered forklifts by the way, because this equipment is caught in the same shipping delays as other imports, as in many industries? Labor shortages are also making the situation worse. According to bls, the number of warehouse workers increased by only three percent in january and september, a number insufficient to match the surge of goods flowing in the past.

Referrals from the employee networks were enough to find new people, but not currently, the effects are being felt. The shortage of space is pushing up the prices. Tenants pay to store their goods. It used to be common for new how new warehouses to sit empty for months or years before they found tenants.

But now demand is so intense that customers are booking space before buildings are even completed. Warehouse operators said on the latest earnings call that a record seventy percent of the space it is developing in the us has been pre-leased that is prologus pro logis logistics logis pro logis, whatever uh anyway, i imagine there are stocks and standard earnings called people are in A kind of panic mode when it comes to buying or committing to real estate. It's incredible: uh yeah, here's, the stock, it's ticker, symbol, p, l d, it's up! 24 in the past six months, 50 year to date on the five year chart it's up. 192, my goodness uh some companies with the resources to do so are buying their own warehouses to ensure they're, not fighting, rivals to secure the capacity they need.

According to co-star a real estate group, the top 25 retailers required almost 39 uh, 38 million of rentable square feet in industrial space. More than double the 2019 figure warehouse owners, meanwhile, are accelerating construction plans to catch up with demand with so few options near ports. Some retailers and logistics companies are pushing further inland redirecting some customers, from los angeles and long beach to utah and nevada, where there are millions of square feet of capacity. Well, that makes sense, but problem is you just have to get it there? How are you going to get it there right? These facilities can be cheaper by a margin of 20 to 35 percent, but yeah again you got to get it there, uh, instead of spending 800 as a container to get it from the port to a nearby warehouse.

You might be spending like 3 500 to get it unloaded at a more distant location, no kidding jeez what a mess. This is a problem that is going to be with us for a while. They don't expect this to end until the middle or end of 2023. I actually think it's going to get worse yikes, so it's interesting, i mean again so many warehousing issues in my opinion are just the result of massive pre-ordering double triple ordering by walmart target by other companies to make sure they have enough product.

Then they got to sort all the stuff that they bought, which that's going to take a while. They need labor to get through all this product that they just bought, and then they got ta, sell it and uh. Once this all gets sorted, i think we're just gon na be flooded with product store. Shelves are gon na, be going from bare to overflowing, and it's going to force price cuts uh.

So i i do expect to see consumer-based price cuts, uh, substantial consumer-based price cuts, and next year we'll see we'll we'll see individual uh deflationary pressures, not everything. I still think wages and rents are going to have substantial inflationary pressures. But this right here this article from the financial times that is hands down a deflationary concern. You don't have warehouse, storage issues and think inflation for very long.

In my opinion, uh take a look at this dk just spent ten dollars to say this. I work in sales for a large switch and router manufacturer starts with a c couldn't be cisco, but anyway you're absolutely right. My clients are putting all their orders in place for 2021 now only exacerbating the issue. Oh yeah yeah.

Well. Thank you so much for that insight. All right. Let's get back to the sticks, so uh right, etsy down 3.4 percent, a firm 5.5 into the toilet right now, a firm drop in 5.5 etsy dropping 3.35 uh.

I think this is this is on on weaker potential consumer spending, robinhood down 1.3 1.4. Look at this alphabet down 1.29 percent - these are getting worse here. Folks, look at this uh google is is rotating straight down here right now you have uh. You have etsy straight down on the day.

You've got fun, not having any fun rotating down. You have a firm look at that straight down with increasing volume straight down to 152 right here, yikes uh. These are some of the largest losers right now in the consumer. Space uh, amazon, also rotating down apple moving down this to me shows that it's uh.

This is a a lot of pain from the amazon apple earnings being delayed from last week to uh today really, and it makes sense that a firm would potentially rotate on that since there's so much excitement over the firm amazon partnership slower sales, obviously not so great. For uh for matapor chillaxing, a little bit after running to 25, 43, now sitting at 24.38, still absolutely incredible up. Eight point: four percent on the day so far up six point: seven percent big moves here on sofa x, paying up five percent expi up almost a full five percent unreal uh huh, let's see here lucid, take a look at that lucid only up three percent right Now i also had a little adjustment here to the downside and the consolidation that we're seeing now gopro three percent end phase wow end phase: almost three percent and phase doing well bounced off uh, three f uh 240 over here. Let's see here, twitter 250 amc, uh amc's up that afc gamestop about 2.3; each lemonade up about two percent corsair, two percent hippo, two percent tesla sitting at one point: eight uh, neo neo went positive neil back over forty dollars down four percent of the pre-market to Positive about one and a half percent right now: pinterest positive wow, let's listen into cbc for a moment.

Let's see what we got going on over here actually did do a little better in the last year. Okay, bob! Thank you bob assani! I didn't want to get to shares of discovery having uh, what's so a rare uh moment, which is up um over four percent. Of course, i've been following this company closely as it continues to move forward in its deal to merge with um the assets of att. Essentially, warner media: that's not that exciting! All right, uh, wow, whoa, okay, uh! Let's take a look at yields.

How are yields doing uh? Let's see here, one point: five: nine percent, not a lot of inflation getting priced in there uh looks like uh, dow jones up 0.3 s, p 500 off those record highs: 0.08 percent, nasdaq up 0.17 russell's. Actually at 0.82, nice move there on the russell. Let's look at uh: let's see we got sheba up here, uh. What we're going to look at, i feel like i was gon na look at something yeah whatever.

So what else do we have here? Disney disney's up about one percent and uh voyager digital up? 1.94 percent you've got upstart upstart moving again: 4.33 percent ubiquity up about a half percent: very nice workhorse 3.57 x, being five percent wow golly, just some big moves just across the board. Uh 7.6 there on matterport, honest company up uh nine, nine percent. Here i wonder if there was news on the honest company, pull that here: hnst, honest co and let's look at the coins as well. Honest uh nope, no particular news there on the honest, co: 62, 000 bitcoin, ethereum, 4368 cardano, 198 solano solana, rather uh 204 sheep sitting at 73, 52 doge 27, a litecoin 192 polygon 192., that's matic axe, infinity, 137 file, coin 63 and decentralized sitting at 321.

Very volatile by the way, decentraland uh trading a lot between the 35 and 36 spots. All right. What else do we have? Okay, so far, 6.32 gosh incredible 4.61, here on coinbase, crisper, three charge: point: nice, nice, okay, big, digital uh, really rotating uh row, big digital assets, wow rotating down about eight point: six: six percent. This one ran like 25 on friday, giving back a bit here, as traders rotate out, a firm may have hit an intraday bottom.

Look at that bounce here at the bottom uh. What about safe mode? What's so funny uh, it's not volatile! If you don't look safe moon doing, i don't know i haven't looked at safemen like i know there were a lot of people pitching that thing you are paying money to pitch this thing. No, i i don't even know how to well it's 50. 50.

169, with one two three four five leading zeros huh, that's interesting anyway, going back over here, uh firm. There we go back to 5.4 to the downside. What's going on with the spy? Is the spy taking a bit of a breather here? Yeah see the spy? Is rotating down writing or stock yeah? That's what we should have in our portfolio: it's either alive or dead, or it's both it's not both alive and dead. Until it's been 1.63 to the downside, that's a lot for google.

You know this is definitely dragging down the indices here, but also microsoft, down 1.16. Look at that amazon.1.19 uh. The things that are up today are doing well, but uh, there's there's, definitely an uh current to the downside. Today, you see that here in tesla, tesla's softening only up 1.19.

I don't think that's the fault of these individual companies and face here softening a little bit. It's it's really like things are being anchored, things are being anchored down as, as other things become deals again. Now dutch bros gosh eighty dollars for dutch bros, that's nuts, that's crazy! I mean that has done phenomenally well coinbase sitting at 332, owlette 503 plug power. Five percent go over uh over forty dollars again here incredible wow lemonade.

One point: six, nine lucid wow lucid gave up almost its entire game. This thing was up like eight percent pre-market. It gave almost all of it up. That's crazy! Okay.

What else do we have yeah lemonade's? Finally, up a little bit, yeah no kidding yeah, but a lot there's. Definitely some pain coming into the market right now definitely see. Let that see if there's a rationale for this i'll find out. Uh, steel and freight shifts add to signs of supply chain relief.

Stealing new aluminum new deal between the us, the eu on boosting or reducing costs mortgages are likely culprit of treasury weaknesses. Okay, all right what what? What is the breaking news? Cnbc with breaking news construction spending for the month of september expected to be up three tenths of one percent is a miss down minus half one percent down point five percent, and that is the first negative number and the weakest number since february of this year. Now, let's move towards iso manufacturing for october, it's possible that the market is chilling out a little bit because of uh the fed meeting this week. That's possible so definitely a possibility here that the market's relaxing, because in anticipation of what the fed uh the fence taper, will look like in the amount of that fed taper, yeah, okay, so yeah anyway.

That about does it for market open here. Thank you. So very much for visiting dr jerome powell and uh the uh pseudonym meet kevin. So we'll see you in the next video appreciate y'all thanks again and thank you.