Emergency for 1 of my stocks‼️

We call this the nighttime edition of the reaction channel. Welcome in, ladies and gentlemen. Hope everybody's doing phenomenal out there. So, look at this. Public count up $2,900 here today. I was going to make a joke about this. Posted this on X. And, uh, 15 years ago, I used to dream about making $2,900 in a day, right? So, uh, we've come a long way. We've come a long way, baby. Now, we have yields going down. I want to talk about what this means for countless stocks out there because you got to understand if the 10-year moves down, we're going to have certain stocks absolutely boom. So, we'll talk about that in this video here today. Looking forward to sharing my opinion, perspectives there. SpaceX, new capex numbers came out. I want to talk about what this means and the ramifications for the semiconductor industry and what's going on there. Uh, one of my very important stocks just came out with earnings. We'll talk about what's going on there. The stock is being sold off as we speak right now. Okay. From there, I want to go ahead and react to this one. Mike Wilson. We're in the final innings of a market correction. That's going to be an interesting one to react to. and then I'm going to react to this one around semiconductors pricing in a crash. Looking forward to sharing my opinion, perspectives there. By the way, appreciate everybody joining me as always. Thanks so much for being here. If you haven't already done so, I just need you to do one thing, please. Please, real quick, just smash the like button, smash that little thumbs up icon, make it glow. That's all I need from you guys. Additionally, make sure you're subscribed to the channel. You definitely want to be subscribed. Also, reaction channel. I got a very exciting development here. Uh, Thousandx, we got a big Halloween sale that's going to be coming. It's going to be Halloween day, okay? October 31st for ThousandX. We're going to have a monthly option, six-month option, and I think a three-year option depending upon how long you want to join for, okay? Whether you just want to try it out for a month or whether you know what ThousandX is and you want to join on a longerterm base. It's going to be a smoking deal. And so, if you want access to that, that will be the pinned comment down there today. Click on that, put in your email or phone number, and we will send over the deal when it drops on Halloween. Okay? Very, very exciting. All righty. So, let's get rolling here. Uh, 10 year moving down today in the trading session, right? Moved up here in the last like hour or two. But what's going on here? And what does this mean? And what type of stocks boom if you have a 10-year going down. Okay, listen. The stocks that will boom are the stocks that I've been buying very recently. Stocks like RH. RH is a perfect example. You know, up 5% here today. you know, you get that 10-year to consistently go down for the next, you know, I don't know, 6 months. RH, it's it's very simple game. RH stock's going to probably double, you know, like it's not a complicated game, right? Um, the end of the the moral of the story is here, real estate's been dead. We all know this, right? You get that real estate market going, then we could talk about RH getting going, right? But when you when mortgage rates are 7% plus and no one's going to be moving in that environment, right? And so that kills anything real estate related and a stock like RH is going to get hit the hardest in that sort of environment. Okay? They're just going to sell that stock off regardless of the price, right? Stocks like SoFi also benefit, right? SoFi's very at least it's seen it's not in my opinion but it's seen as being very uh interest rate dependent and it's not true. Uh SoFi can be very successful in any rate environment. We've seen this from SoFi. We saw SoFi be successful in a lower interest rate environment. We've seen SoFi be insanely successful in a higher interest rate environment. Anthony Notto has that company clicking on all cylinders. They can be successful in you put them in just about any environment. strong economy, weak economy, strong consumer, weaker consumer, they get it done, man. They get it done. And so, you know, that's one of those stocks that if yields are going lower, if treasuries are going lower, uh SoFi stocks going to likely boom in that environment. But just understand that company can win regardless of the interest rate environment. It's just the stock price has trouble because people have a view of being very interest, right? Stocks like Win Resorts. Win Resorts is another one. winning resorts. You get treasuries to go down. Let's say they peaked uh win stocks on a boom in that sort of environment. Next thing you know, you'll see win back over $100 again, right? Um American Express, that's another perfect example. So, a lot of those sorts of stocks will definitely benefit huge. Okay, next up here, uh SpaceX. So, SpaceX capex numbers just came out. So, what they spent last quarter was actually a little below what Wall Street was expecting, but it was I call it roughly in line, right? So that wasn't very exciting. But the exciting number was the capex for the upcoming December quarter. They're talking about that could reach 35 to 40 billion, which is significantly higher than prior Wall Street projections. So now this is very good news if you own Nvidia stock. Uh certainly good news there. Uh Nvidia is, you know, they're the ones that benefit the most from this. Okay. All the semiconductor companies can benefit from this. Uh a many of these semiconductor companies sell into SpaceX different products and services in in different ways. Okay, so AMD can make money different ways from SpaceX. Uh the memory chip companies obviously will make money off of this, but Nvidia is going to be the biggest beneficiary of this major capex. Also, they're talking about some crazy numbers being spent over the next few years. Listen, I I was a Tesla shareholder for a long time, okay? And I've covered that company for a long time. So, Elon Musk, you know, he makes a lot of very crazy predictions and most of them don't come true. Do keep that in mind. Um, but there's always like some level of truth in there. So, for instance, like they were trying to guide for like 500 billion to a trillion dollars of uh ARR like, you know, within like a year or two. It's like, you know, they throw out some crazy numbers, right, that they're not even going to get remotely close to. But the moral of the story is they will spend fortunes of money over the next several years. Um, is it going to be the number he's talking about? No. But it's going to be still very large numbers. And so there's going to be a lot of companies that will make a lot of money from SpaceX over the coming years. And, uh, that's a thing of beauty. And so, uh, but Nvidia is the biggest winner. Just understand that, right? But with that being said, you know, if I was to go and look at Nvidia stock, I would love to look at Nvidia stock after hours here and see if there's been any major move with Nvidia. Uh, this should be intriguing. So, Nvidia, yeah, after hours 2% upward move there. That makes sense, right? Um, you know, if SpaceX is going to be spending that sort of money, yeah, you know, much much bigger than expected. Like I said, Nvidia is the biggest beneficiary. So, I'm not surprised. Uh, Nvidia is up 2% there after hours. Okay. All righty. So, next up here, take a drink of water. Okay. So, we got a stock in mine going down Chinatown after hours. What's going on here? Well, it's Netflix. Okay, Netflix. So, oh man. So, as of right now, Netflix is trading $64 after hours. Okay, let me put this very very simple by by and I'm not talking by bye bye. Okay, this is a buy by buy by load the boat uh situation here with Netflix. So this is the best the best possible scenario could have played out here. Okay, so Netflix is a stock I started buying recently, right? In the last, I don't know, couple months here. And so my if you, you know, listen to the private group video I recorded and and been talking about Netflix recently, my hope was good results, stock goes down, and then we got exactly that. But we didn't get good results. We got stellar results, great results. Okay, so this was an A+ quarter here for Netflix. uh 12% revenues up, cost of revenue down 1%, sales and marketing was only up 6%. So that's way less in revenues. That's good as well. Technology development was a really high number there. That was up 21% but GNA was only up 2%. So operating income exploded higher. That was up 37% year-over-year. Ah, it's a phenomenal number. Income before income tax is up 39%. So that grew even faster in operating income. I mean, this is exactly what you want to see. You want to see, you know, you want to see whatever your revenues going up, you want to see your revenues up double digit percentage as a company, right? But you want to see your operating income in, you know, exploding way higher than revenues. That's exactly what we got. You want to see your income before income taxes exploding even higher than operating income. You want to see your net income up even more than as a percent than income before income taxes, then that was up 44%. You want to see your diluted EPS up even faster, and that was up 47%. That's a that's perfection. That's an A+. That's 100%, man. 100% perfection from Netflix there right now. Uh, guidance. So, guidance was seen as weak. Um, listen, I have covered Netflix. I've owned the stock on and off in the past and I've covered that company, you know, in terms of paying attention to their numbers and their results for the longest time. One thing I can tell you is don't read anything into their guidance ever. Ever. The amount of times I've seen Netflix come out in sandbag guidances just to then come blow it away is a long list of times. Okay? Like don't read too much in their guidance. Like I I don't even pay attention to their guidance. It's it's irrelevant. The literally the guidance is irrelevant. Um when it comes to Netflix, I don't trust it at all. They just are one of those companies that will throw these guides out and then Wall Street would freak out about it and then they come in and beat it. And so, you know, the company is clicking on all cylinders. It's an A+ quarter. The company, you got to understand it. This is a company that just gets more and more powerful as time goes on because they make so much money and they can pour that money into more and more content and buying out sports rights that then makes that company even more powerful and more powerful. And so this is just a juggernaut. I view it very similar to an Amazon type situation where Amazon, you know, every quarter more packages are ordered on Amazon, more companies use AWS. it just makes them more powerful, more powerful that they can reinvest into those products AWS or the ecom business and just build something you can't really compete with, right? And so they just become more and more powerful. And so that's a situation we have with Netflix, I will, you know, if it's 64 bucks tomorrow, I'm buying more Netflix tomorrow. It's as simple as that. And regardless, I'll keep buying Netflix probably for the remainder of this year. I'll just keep loading up on shares cuz anything in the 60s or even the 70s is a steel deal in my opinion as long as you got a longer term horizon. But even on a short-term basis like Netflix is where's Netflix's Ford P going to be at tomorrow? You know, we could be looking at a Ford P on Netflix tomorrow in the teens, right? Yeah. I mean, you could be looking at a Ford P tomorrow and Netflix of 18 for Netflix. Okay, thank you. Like, I don't know what else to say. Thank you. I like free money. Uh, I appreciate that. Like, wild. Absolutely wild. So, um, let me answer this before we move on here and react to some videos. Do I view Netflix as the best buy in the entire stock market as of tomorrow? The answer, I wouldn't say the best buy in the entire stock market. I would say the best buy of stocks over a hundred billion market cap. Okay, Netflix as of tomorrow is the best buy for if you have a 5year horizon, by the way. You know, over the next five weeks or 5 months, who knows? like I would probably go with AMD if you put me on the spot for that. But for the next 5 years, Netflix best riskreward of hundred billion plus market caps in the world by a mile in my opinion. Uh for stocks period probably go Celsius. Um but yeah, for hundred billion plus market caps, Netflix is the one. Okay. All right. Let's react to some Wall Streeters >> on uh today's Tuesday. You basically think that whatever would you call it a selloff? I guess some rotation or weakness in in the overall averages. You think that's over and it's it we're we're going to start having better market performance at this point. >> Well, I think the average stock is done. I mean, it's been a really nasty corrections. It started in June, right? I mean, this is sort of the rotation from early to to midcycle. You had the the momentum unwind. You've had this now concern around the the sustainability, the AI capbacks. You have a couple wars going on. You have the midterm election anxiety. So, yeah, there's a lot that's been digested by the markets. If you look at the breadth of the market, it's been terrible. So, I think we're in the final innings of this, but we still got to get through the next probably two to three weeks. And I think we can still finish a year pretty strongly and definitely into next year. >> The uh the AI trade that's already seen its its worst days uh in terms of of consolidating or worries about debt and everything else and it it will lead the market again or >> it depends on what part we're talking about, right? There is a transition going on within the AI trade from kind of what we call the enablers to the adopters, right? So all this spending that's been going on has been incredible for semiconductors, some of the power stocks, all the ones that benefit from the the spending itself, but now that infrastructure is being developed and the question is, is it economic for all the players? So the the market's doing a good job of separating some of the winners and losers and now what they're what the market's going to get excited about next year is the actual users of this technology leading to better revenue growth and profitability. Normally it with the entire market worried about the Fed and future rate hikes and 3.7% inflation and you know whether the bond the 10 years starts rising again $108 oil would be a problem. Why is it why is it less of a problem? It seems like we've been grappling with that it because of AI. AI isn't as dependent on on oil, right? >> Well, rates are a restriction if there's no growth, right? But the reason why rates are higher, I think this is a differentiated view from a lot of folks which is the reason why rates are higher is because growth is so strong. I mean they come to this year there was there was thoughts about the Fed was going to cut rates. Okay. But then of course growth has been much greater than expected both earnings and from an economic standpoint the Feds reacted to that. They responded to that and so you know 10 year or 5% with nominal GDP running seven that doesn't seem egregious. where the risk is is a speed in that adjustment and the bond volatility that's created anxiety in in the in the financial markets. And now the one area I do think that that deserves some attention is we are seeing credit spreads widen in certain parts of the AI complex. That needs to calm down. That's probably a bigger risk than Treasury yields quite frankly because that's where the spending is coming from. So that needs to calm down. Like I said, we probably got two to three four weeks where we still got to resolve this. We have another Fed meeting coming up. We have the midterm elections. we have uh you know some capital that still needs to be raised in the AI space and and that needs to play through but I think we're going to get through it successfully. Part of the narrative about how you know Trump's approval and the the approval on the economy is we haven't had a good GDP print because that one GDP print that we had w was skewed by by inventories or whatever it was if you if you factored some things out it was like a really strong like stronger than you'd want even. So, do we need a print before? You just said 7%. So, what do you Yeah, you subtract the 3.7 you subtract core or headline inflation. >> Well, it's basically half real half inflation. So, this is the whole thesis of letting the economy run hot to try and grow out of your >> So, you think GDP is running hot right now. >> Oh, absolutely. That's why rates are up so >> and that's why rates are up. That's that's >> and that's why stocks are okay generally. I mean, they've been okay this year. We're up 10 12%. A lot of stocks have corrected now in the last two or three months because we're adjusting to a Fed that's now responding, right? We've always said, right, stocks are fine, okay, with rates going up as long as growth is good and the Fed's not killing the cycle. And that's what the that's what the market is questioning. Is the Fed going to pull away the punch bowl too quickly here and not allow the economy to run? We don't know. We don't know the answer. I think I think they're going to be pretty judicious about allowing the market to tighten for that. They're not going to look purely at $108 oil seeping into inflation and and causing, you know, 3.7%. That that's not going to be the primary number. It it it's going to be let this run because these are there's some positive things causing rates to increase. >> Think about it, Joe. If first of all, oil 108 doesn't really tell us the true story. As you know, product Yeah. Well, diesel prices and product prices, jet fuel, that's the constraint. that's going to do its own tightening. So, I think Kevin Worsh has the right philosophy here, which is like, look, I don't I can't control the oil market, right, as the Fed chair, I can't really control the speed of the economy. He knows rates are going up. He's allowing rates to go up and he knows oil prices are up. That's your natural governor. 7% probably 7 8% is probably too hot. So, let it let the market do the tightening for him, whether it be oil. >> What if what if Fed funds are way out of kilter with where the long end is, though? He's going to I mean, you can let it run hot, but it looks like they're behind the curve. >> They're behind probably 50 basis points. That's what the two-year yield is telling us, but that's okay. I mean, it's not out of control. >> You can stay behind because of productivity from AI. >> Yeah, we don't know the but we don't know how the war's going to resolve, how oil prices are going to, you know, trade over the next 6 to 12 months, which is the main driver. >> No October hike, Mike. >> No October hike. >> Well, see, this is an issue with Mike Wilson's call here. Okay, listen. Listen, let me explain this. He's calling, you know, we're in the final innings of market correction. But yet he says, well, we don't know what's going to happen oil. We don't know what's going to happen rates. We don't know what's going to happen with this. That's why you can't really make a call like that. You know, you can't you just can't make a call like that because there's so many various factors that could happen. Uh you might think like oh as long as we don't have you could say something like as long as we don't have anything get out of hand in the oil market or with rates or something like that then we can have a end of a uh this market correction especially for a lot of the smaller cap stocks but you need to like frame it from that thought process not just like oh you know this is like there's so many things that could happen like no you can't make that call >> December's on the table and more importantly I think balance sheet what are they going do with the balance sheet? Are they going to keep funding the the deficit through the front end of the of the bill market or are they going to back off on that? That's liquidity is is probably the bigger risk for financial markets than than front end rates >> in and do we continue to see a a breath improve in the market? Does this broaden out or is is it still going to be >> not like we saw an earlier in the year that was the early cycle kind of expansion, but we are going to see a rebroading I believe once we get through this, you know, once the S&P finally does its final move. I think we can see a rebranding. >> So, we're almost at the end of the year. Is is your year end target worth talking about or do we talk about next year? 2027 year end. >> Yeah. I think I think what we we have 8,300 for midyear, May of next year. And I think that's very achievable. I think 8,500 could be achievable by the middle part of next year. >> Wow. Okay. Let's get ready to make some money then, huh? All right. Let's uh talk some semiconductor stocks and listen to some Wall Streeters. That should be entertaining. >> Yes. mostly this week they report middle of the week it it it reports this week it's going to be a great quarter the stock has not traded well it's down 37% off of its June high but it's up 62% year to date that's fine but Joe you're a student in the markets I'm a student Jimmy is Scott everybody >> isn't this sound so eerily familiar that Micron six times earnings it's so damn cheap and their order book is so big Right. And that they can't meet all the demand. Have you ever heard that before? >> There's one big difference. Hold on. One big difference. I've heard it out 10 times, you know, my career. There's one big difference. Your point is well made. But here's the key difference at the end of >> this one. This one matters. They have no debt. Micron. They have about 100 billion in cash. They're generating 130 billion in free cash flow. And what are they doing with it? They're recapitalizing the company by buying back shares at six times. >> How much debt do you think they had in prior cycles? >> A lot. >> Jimmy. A lot. >> Jimmy. It doesn't matter when the order books dry up. >> Jimmy, let me ask a question. >> You think the order is going to dry up >> in ter dry up in terms of what they believe? I'll phrase it a different way. Their take or pay contracts for 40% of the revenue 27 if the market if the if the spending peaks those takeay contracts mean zero like in every cycle. Listen, I'm not going to dispute that with you. >> But that's what the bull case half their revenues are against. >> This is a simple question that we're disagreeing on which we have rights to do which is where is the peak? Where is the peak? And again, if we look back, >> sorry, hold your horses again. Hot and heavy in here. Okay. Uh listen, let me say one thing about Micron here. Okay. Um I fundamentally disagree with what Micron's doing with their cash. Okay? Listen, they should not go out there and do massive share buybacks in my opinion over the next year or two like they're planning on doing. They're going to plan on doing some crazy share buybacks over the next year or two. I don't agree with that at all. They should stack cash right now. You're in the next year or two. You're going to make more money than you could ever imagine in this business model. Your margins going to be the best they've ever been. It's going to be incredible, right? Probably not sustainable over the long term. Next year or two, fine. next 10 years probably not right and so Mr. short hills capital here is correct in talking about like this is not sustainable for the long term right and um and so since you know that you know Micron's going to end up eventually having a much weaker stock price I don't know if that's a year from now 3 years from now four years from now but it will eventually have a much weaker stock price so right now is a great opportunity to load the balance sheet with cash load it with cash have it earn five, you can easily earn 5% a year on that cash right now, right? Keep ahead of CPI by quite a big margin, right? And then shareholders will obviously be able to sleep well at night because the companies will instead of spending all on share buybacks or extensive amount, right? You're just going to have this crazy cash load and that's generating massive amounts of interest income that is ready as soon as you get some drama out there, right? and the memory market weakens and boom, there you go. Now we're talking. So, you know, that's what I believe they should be doing with their money. This is fun. >> I'm saying it's prudent to think a year and I would agree with you that it peaks a year before spending peaks. I agree with you. What I'm saying is this cycle and it is a cycle, okay, is longer than that. >> What happens if the demand story isn't close to peaking at all? >> Well, that's isn't that what the conversation is about? That's that's >> Isn't that why isn't that why Dan Ies is out today suggesting that what we're seeing now is no different than the you know the the so-called SAS apocalypse but now it's just become now we're worried about the this >> the answer demand isn't waning at all >> the answer to your question which is the question lies somewhere between a year from now and four years from now most of the projections are the spending goes through the next four years I find that a little bit hard to believe but equally and just based What I hear from managers is these companies I grant you Steve biased of course they have their perspective but what I'm hearing from them is it's not one year either it's longer than that you know but but keep in mind I'm not selling all my AI stocks right I've just reduced my exposure to the group >> so you've reduced you you've reduced Meta have you >> no Meta actually you know I took the opportunity to increase the size >> but what's the difference between that and the others >> because I think Meta is a product company ultimately So they'll benefit. They're on the other side of the capex cycle, right? So of course they're going to spend. They have a unique ability to spend given their balance sheet. They're also going to benefit from what they're spending in terms of their products they offer to the public. >> So if you're reducing your exposure to AI stocks, which ones are we talking about? >> We talked about Micron. We talked about Verdive. You know, Micron was a really big position. It's gone. It's been gone for a few months now. >> You own Nvidia. >> Again, small position. relatively small position, >> but you haven't you haven't seen you haven't reduced that, >> have you? >> Uh, yeah. At one point I got out and then I got back in lower prices. So, yes, and it's smaller now than it was. Taiwan semi is still probably my largest position. >> Meta, by the way, target today goes to 820 at Morgan Stanley. Uh, outperformed 900 by Ives. >> I I bought some more meta this morning. It was down 15 bucks. I'll be out of that extra over, but still I think it's my second largest position. >> Well, I mean that's a pretty right in the thick of it AI stock. >> But again, they have a unique ability I believe and I don't mean a bill unique of one to expand to different product areas as we're seeing. So if they want to go into the enterprise market, they can go in the enterprise market. If they want to go in the cloud market, go in the cloud market. So, and again, I love the fact that Mark Zuckerberg is the only founder still running one of these mega cap companies aside from Jensen Wong, but he's got a very capital intensive business, more capital intensive than what uh than than what Meta has and uh you know having that having that founders mentality to >> what more capital intense Jensen's got an asset like business model. Are you kidding me? Look, he's the one benefiting from all these companies spending stupid amounts on capex. And all due respect, what Jensen's got the ultimate business model man. >> To go into new areas without >> they don't even make the chips. TSMC makes the chips. It's beautiful. back as an operator like we see at at Alphabet and we see at Microsoft >> a founder and you know the ability that you don't have to listen to to shareholders at all by by virtue >> but you also think like a founder the structure >> you think like a founder which means that rather than just >> Gerson you listen to him >> right unless you're unless you're well Brad Gerson is not running a major >> No but I'm saying like >> but I'm saying they find new areas it's like they were founder in Facebook think of how that that that company has changed since Facebook. They find these problems and they seek to solve these problems. That what's make that's what makes Founders special. >> I I think you said it before, the the detrimental relationship for the NEO clouds is all about Treasury yields. >> If yields were not sitting where they are today, if yields were 50 to 75 basis points lower, then the Neoclouds wouldn't experience the stress that they have right now. How about the semis which are coming off the worst losing streak in like 20 years, right? How about this from Jeff? The Mag Seven have now outperformed the semis for 10 straight days. That's the longest streak ever. Tony Pascarella at Goldman talks about hedge funds retreating from semis. That feels like as much of a problem as anything else. You're sort of abandoning this trade. >> I I don't think it's a problem at all. I actually like the fact that we are seeing hedge funds lighten up their exposure to the semiconductor trade. Remember, we are sitting in the middle of October, which from a seasonal standpoint is generally a weak period. On the other side, November and December seasonally is a very strong period. I like the setup for positioning if you're telling me that the speculative community, which has been anchored to the semiconductor trade for the better part of the last 3 years, is going to lighten up their exposure and rotate into the more defensive Mag 7. I think that's good setup. So then let's say let let's just say the the selling volatility continues. We got a couple weeks left in the month. It's uh you know choppy, uneven, maybe the market trades down. Is it a buying opportunity today? Like um Mike Wilson suggests that it is says the next market selloff could be the time to add risk. We advise investors to be ready for either a rapid reconciliation or a slower bleed into November because in our view that will be the time to add risk rather than shun it. You agree? We do agree. I agree. And the reason I said we is because we had some of our analysts uh do a look at individual stock volatility versus the overall market. Individual stock volatility is 3x that of the market, which is a way of saying, you were talking about rotations earlier, Joe. We all know those rotations have been fast and furious, but it also is a way of saying there's been a lot of damage done. And I think what we're answering the question today of is whether the Mag 7 and the AI trade needs to catch down to where the rest of non- tech has been for the last several years or whether that catchup trade and that broadening as stunted as it's been can continue. But the overarching comment in the last uh option which is what I believe is that AI and tech is a buying opportunity right here that it's not something where those stocks need to need to catch down to the rest of the market. The fundamentals support it. The valuations support it, the earnings support it. >> Yeah, I I like that. And I and I do believe that this is an opportunity on the position lightning that we're seeing related to tech and the AI trade. Uh where I struggle is a lot of the commentary that I heard last week, which was, "Oh, here we go. The broadening trade is back on once again. I don't know if I see in front of me." >> That was a defensive reaction. >> I don't know if I see the evidence in front of me that I could get behind that. I don't know how to resolve oil at $102. I don't know how to resolve Treasury yields that stay uncomfortably high. So I'm not so sure the place that I want to go is in that direction. What happened last week? Yes, it broadened, but it broaden it broadened into defensive like healthcare and it broadened into energy because of high oil prices. I mean what you really want to see is things that you were talking about just a minute ago like Caterpillar or some of the utilities and things like that to start to spread through and see a broadening that way which is not what you saw yet last week. Oh, Jamie Diamond Jamie Diamond gives an interview to the Journal and and says the economy is booming. >> Not naive to the risks of inflation and the war and oil prices and and everything else. But >> look at Dick Sporting Goods, right? I bought it, got crushed after the quarter, went down to 121. You know, I I added significantly it's 144. It's the ultimate consumer stock. Now, I think they've got some edge in terms of being, you know, uh, the brand in the space, but yes, but but, you know, just so my my position's clear, all I'm saying is if if I'm wrong and it's not peaking in a year, I'm prepared to miss it. I've made enough money on the AI trade, I'm sticking with the ones that I think are permanent compounders and I'm ready to miss the flood. But are you are you then also suggesting that you're staying away from these stocks >> for the year for the next year until you find out >> Meta Alphabet's a big position of mine. I own some Nvidia Goldman Sachs I own. Goldman is also a lever to the AI trade and the uh M&A pipeline and the IPO pipeline. So I'm not out of it completely. I own Apple which is more of a product company in the AI trade, AI deficient trade. So I'm comfortable with what I and Taiwan semi. So I'm not out of it. I'm just more selective. As we move into November and December, guess what? I want to own the momentum factor. I think in November and December, what has been the best trade of 2026? I think we go out with that being the strength >> talking your own book. He is, but also in December you, oh, it's it's it's sort of like a rule. We'll pull forward to man from January. But don't forget, we've got >> okay, you know, you're in a great position with that momentum factor because it has gotten annihilated since Micron reported at the end of June. It's been a very difficult Q3. >> I I just want to see what happens with the elections, right? I want to see the reporting. >> Uh I mean, actually, Joe Teranova there at the end brings up a good point. Okay, listen listen listen. If you want to make money November, December, if we get a risk-on market like you usually do in November, December, right? Um, yeah, momentum is going to roll. Uh, it's going to be party time, right? That's what you get most years. It doesn't mean for sure it's happening this year, but that's what you get most years. And, um, and so, like, if you're going to play from a trading perspective, the market on November, December, you want to play whatever has been hot because whatever's been hot stays hot. And then all the Wall Street funds that need to chase the market, they move to those sorts of stocks. And so there's a huge year-end bid and um then that leads into January and then sometimes people move out of some positions after that. But yeah, man, that's where that's where it's at. Okay. All righty, guys. I hope you enjoyed today's video. I appreciate you for joining me once again. Thousandx deal is coming Halloween. If you want access to that sale, that's going to be the pinned comment down there. You can click on that and uh go ahead and put in your name and info. If you don't know what ThousandX is, I recorded you guys a little 5minute video walking you through everything you're going to get access to and all that good stuff. Okay. All righty.