They Just Sold Everything! | Why The Stock Market is Collapsing Now

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My word we’re going broke again folks holy smokes we got a lot to discuss in today’s video folks and i mean a lot of things i got to show you uh market’s starting to collapse again countless stocks are collapsing again vicious downward moves uh yeah i hope you enjoy thanks for being here on a devastation day like today so first off uh when i opened trading view

Today i knew it was gonna be a bad one because uh yeah i it was on the big tech watch list and every single stock on that baby was red it was red dead redemption out there it was ugly times ugly just everything across the board kind of getting hit and yeah i if i open up my watch list and big text all read like that yeah it’s going to be a nasty one okay first off

You know the first thing that’s going on in the market right now is today was the aftermath of what i call the um the uh man i don’t know how i want to put it the nuke that went off in the retail landscape over the past a few trading days okay and today was the fallout of that nuke that went off essentially okay and i mean you know bbby was the stock that took us

All down right um you know that stock was the most talked about stock on wall street bets that i personally even seen it was more talked about than amc for a couple days there last week it was insane every single person was talking about this talk people were piling in their money left and right next thing you know the ryan cohen guy sells out and the stock just

Absolutely gets obliterated i mean this remember this stock has fallen like 60 or 70 percent now from the highs it reached just a few trading days ago now at this point an absolute devastation move there amc fell massively today there’s a whole like uh this ape thing it had split off essentially and so you know some shareholders amc got this eight but the stock

Price is still down massively today that can affect algos and it just brought down everything across the board it was ugly times ugly the retail trader investor list oh my gosh okay bad bad the chef is back in the gulag again after it was coming back so dang strong it was looking like donkey kong it was back to eight dollars plus and now we’re back in the gulag the

Gulag for the chef is six dollars we’re back in the gulag once again for the chef and it is what it is okay palantir almost back in their gulag the gulag for palantir is seven dollars so now palantir is almost back in the gulag here uh yeah just ugly man and uh you know whatever you think about stocks like the chef or palantir or any of these you know companies

The bottom line is remember in the short term these babies get thrown in with the amc’s the bed bath and beyonds the gmes whether you like it or not it’s the way it is right now in future years that will not be the situation palantir will be its own thing the chef will be its own thing i’m 100 confident that but for right now the fact is if all those meme stocks

Are going crazy it pulls up stocks like the chef pulls up stocks like palantir if all those are getting split in half guess what all those get absolutely devastated as well it is the way it is we can complain about it we can cry about it it is the way it is for right now longer term things can definitely change obviously there and things will be based upon where

These companies revenues go net incomes go you know clients go things like that but for right now it is what it is and if you told me amc and bbby is down huge tomorrow in gme and all those stocks guess what balance here is going to be down huge as well it’s just the way it works for right now at least okay commodities so bad news a lot of commodities were up

Today natural gas was up big about five and a half percent wheat was up two percent today wti was up one percent the commodities index in general was up corn was uh oats were up so yeah definitely not something we like to see lumber was down huge that is something we like to see but yeah we you know i want to see red red red for these commodities day after day

Obviously it can’t go down every day but you know we can at least wish for it now at this point in time this is where the markets are trading at the nasdaq is 23.1 percent off its all-time high it’s closing high not intraday high just to keep in mind uh 22 off for the russell now at this point in time the s p 500 is back down to about 14 off all-time highs and

Uh dow jones uh about 10 and a half percent off all-time highs so you know obviously it’s been a pretty steep comeback in the back half of june and through basically the first half of august but we’re giving up a lot of those gains now but keep in mind we’re still quite a ways away from where we were at at those june lows and i mean quite a bit away i mean we’re

Talking about this we’re still 10 percentage points away there right i mean that’s a huge number as far as the nasdaq goes that’s over 10 by the way as far as and as that goes we’re you know roughly 11 ish points away from you know the lows we reached back in june so quite a bit away from there zoom disappointed so if you didn’t see zoom’s numbers here so their

Their eps came in a little better than expected so that was good but revenue missed they came in at 1.10 billion versus 1.12 billion was expected zoom’s revenue in the second fiscal quarter grew eight percent year-over-year slowing from twelve percent growth in the prior quarter according to a statement the second fiscal quarter ended july 31st zoom’s net income

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Fell to 45.7 million in the quarter from 316 million dollars a year ago oh my gosh as a company increased spending on sales and marketing the strong u.s dollar performance in the company’s online business and sales that got weighted toward the end of the quarter negatively impacted revenue in the quarter said zoom’s finance chief there so yeah definitely not

Good that zoom continues to see this sort of slowing obviously in their business management lowered its projections for the full 2023 fiscal year that’s what we’re in right now calling for three dollars and sixty six cents to three dollars and sixty nine cents in adjusted earnings per share and four dollars are excusing four point three eight billion to three a

Four point three nine billion dollars in revenue implying seven percent growth you know yeah i mean for stock like zoom that everybody got used to growing at some ridiculous rates so now be growing seven percent is just very very disappointing obviously okay um you know obviously that’s way off of what kind of analysts we’re expecting here and it just goes to

Another bad situation in regards to how folks are feeling about the market earnings these sorts of things economic conditions primarily caused executives to revise their view no one wants to hear that man no one wants to hear that economic revisions are causing companies to you know basically kind of slow up their numbers but that’s something we’ve seen pretty

Much across the board if zoom was only company that said something bad about economic conditions hurting their numbers i’d be like uh calling bs on that right but the fact is it’s almost every single company i don’t care if you’re talking about the biggest the big dogs whether you’re talking like nvidia’s and and you know big tech and those sorts of companies right

Or you’re talking a company like zoom where you’re talking small caps anything across the board it’s just kind of what we’re seeing out there at the moment and it’s obviously not an ideal situation now when it comes to zoom obviously it’s a very popular stock in the market right not nearly as popular as it was at one point but still like you know you look at you

Pull up which tracks you know kathy wood’s biggest investments on daily basis for our main arc fund you know their biggest their second biggest investment is zoom it’s 8.39 of the weight so you know given that ark you know given that zoom is going to likely be down huge tomorrow i mean ark’s going to likely go down as well it’s just kind of

How it is and um you know it just arc continues to kind of be in a very very tough place given the market and given just these companies continue to just miss and miss and miss these numbers and uh you know in this sort of market you can’t miss man and even though zoom is valid valuation is much more attractive than we’ve ever seen it before you know they still

Came in they disappointed and so that’s just kind of the situation there with zoom stock more bad news forward to eliminate 3 000 jobs in an effort to cut costs i swear i just remember ford announcing recently that they’re cutting 8 000 jobs okay so now another 3 000 jobs ford is cutting three thousand jobs from its global workforce a majority of which are in north

America the cuts will include two thousand salaried positions and one thousand agency jobs in the us canada and india said uh you know bill ford who’s the ceo of the company or the chair seo is jim farley over there so this is a situation that you know a lot of people are worried about potential stagflation obviously a lot of people are even worried about this

Dynamic where we have high inflation but it’s kind of exacerbated because employees are in a position of power and they keep asking for more more and more wages right and more money things like that the the issue i see um is i don’t know if the economy is going to be strong enough to withstand let’s just call it um you know companies continue to give big let’s

Just call it wage increases and things like that over the next year and so this is why i kind of feel like if anything we’re going to see a continued kind of weakening in the in the let’s just call it the unemployment numbers i think i think unemployment is going to continue to kind of go up over the next six to 12 months in my personal opinion i think you know

I don’t think employees are going to have that much in terms of if they’re trying to go negotiate for higher wages and things like that because we’re just in a weak operating environment when you’re in a weak operating environment it’s very tough to do that i think companies are when it comes to their workers they’re definitely in a position of power now at this

Point in time which is very different than this time last year when companies were trying to hoard employees and trying to hire as many as possible right we’re a long way from that you’ve even heard this from the biggest the big tech companies basically saying hey you know what uh you know we’re good if if an employee comes across us who’s the best of the best

We’ll hire them outside of that we’re good right now and if anything will lay off and if people want to leave the company because people always leave these big companies right like they might not even have somebody fill their position they might just have somebody else take it over so that’s kind of the environment we’re in right now which is kind of needed i mean

If you’re going to talk about getting inflation down which is something that’s going to continue to come down in my personal opinion unless commodities go beast mode again you know the the biggest reason why inflation’s gone so insane at least you know over the course of summer was you look at what happened with oil prices look what happened with gas prices right

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They went to the moon literally in energy that whole movement made cpi go absolutely nuts um you know if we can have that calm down and continue to be in let’s just call it a lower state that’s good and if we’re talking about a weakening of the economy you know you’re not going to have super high oil prices in a weakening economy that’s just not what happens right

You know we watch this play out in 2008 early 2008 uh oil prices had peaked out and then as the economy got worse and worse throughout 2008 and as we went into 2009 what happened with oil prices they fell you know down massively look at obviously in the roni ronin recession look what happened oil prices you know that was a really insane kind of situation there

Don’t expect oil prices to go negative or anything like that in this environment but um you know when you’ve got a weakening economy it just doesn’t it doesn’t support higher oil prices that’s just bottom line so that’s kind of the situation we got going on there but uh yeah you know not good to see job cuts we’re gonna probably see a lot more before this thing

Is over if i had to guess okay now in terms of you know anything auto related you know most of these things are just going down massively right you look at something like carvana this stock was down another 15 percent today this was a stock that was 300 something dollars in the past year right and i mean just absolutely no one wants to own carbon stock look at

Carmax stock down another six percent today it’s getting really dang close to its 52 week low you can’t find anybody to buy carmax and carmax is a very well established company uh you know that that is very famous a lot of people know it i’ve sold many cars to carmax over time and doesn’t trade at some crazy pe ratio but no one wants to own a car max right now

Because most people believe we’re either in a recession or about to go in a recession and so no one wants to own home builders in that environment and no one wants to own automakers in that sort of environment or not even automakers just folks that even sell automobiles in any you know sort of fashion look at a stock like shift technology this stock is 95 cents

Here today you know it was a stock that was eight dollars at one point right no one wants to own a chef technologies if they feel like the economy is getting worse and worse and worse and less people are going to buy cars that’s just kind of the dynamic right you even look at a stock like ford which we just spoke about right ford is obviously much closer to his

52-week low and 52-week high and here’s the thing ford’s numbers have actually been really impressive like if you look at their quarterly numbers over the past few quarters it’s been very very strong but the problem is people believe that you know one supply chains are messed up so ford’s number is going to be very limited the second part is people believe that

Ford’s numbers aren’t going to be all that you know in 2023 because if we’re in a recession we’re going into recession people just feel like there aren’t gonna be as many vehicles sold right and especially trucks sold we know for ford’s business it’s you know they’re huge in trucks there’s no one bigger than ford when it comes to trucks right and when construction

Jobs are plentiful when a lot of homes are being built uh all those sorts of things right people are buying trucks left and right because they need it for their businesses and what do you use in any of those businesses that are like construction related right trucks pickup trucks and for the f-series is like the biggest in that space but if we’re talking about a

Weakening economic environment if we’re talking about there’s going to be far less homes built next year you know in 2023 than there was this year if you’re talking about way less pools being built right way less landscaping being done and all those sorts of things guess what that’s going to hurt ford’s truck sales and if that hurts ford’s truck sales it’s going

To hurt their numbers their revenue their net income their profitability and um obviously their stock price and so that’s why even a stock like ford that has been putting up good numbers just is not performing and the same could be said for the the housing stocks right the housing stocks are you know if i pull up my trading view here right let’s go ahead and look

At housing stocks housing stocks we know these companies have been making money hand over fest when it comes to home builders right but uh where’s housing stocks there we are you know look where these stocks are all trading at you know look at toll brothers you know they’re making money hand over fist uh over the past year this stock’s you know 45 bucks here a

Day and you know i would would i be surprised at all if if toll goes to under 40 i would not not at all because here’s the thing you know they got earnings coming up here i think they’re gonna have to start lowering everybody’s expectations around 2023 which is uh not going to be an ideal situation there i think maybe some folks on wall street are still kind of

In a pipe dream situation where they think 2023 is going to be great for housing and i think it’s going to be a very very tough environment in 2023 for housing because uh you know we got a high interest rates we got low confidence and we got consumers in a tough place that doesn’t bode well for housing just bottom line there so that that’s kind of all going on

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Okay look at even tesla my elsa you know tesla myself is much closer to its 52 week low and 52 week high now at this point in time and this was even after they announced the big full self driving uh let’s call it the bigger dollar amount that’s going to cost you know this stock still couldn’t go up today it was down 2.2 percent and um you know that this is a stock

Obviously i personally own but you know it’s a it’s a tough environment there’s just not a lot of belief that auto is going to be strong we’ll see you know maybe everybody’s wrong on that and autos will be strong or maybe autos are just strong for tesla we’ll see okay but that’s kind of got to play out no in terms of the market in general here’s the deal the nasdaq

It made an epic move right we were everybody knows we were due for a pull down no doubt about that okay now in my personal opinion there’s nothing anybody can derive from this pull down i don’t think bulls can say you know we’re going right back up i don’t think bears can say oh see you’re going back down to new new lows there’s nothing that can be derived from

This we know we were due for a pullback man you mean this was an epic move we’re talking this was over a 20 percentage point move there in a pretty darn quick amount of time you don’t go up in straight lines and you don’t go down straight lines in the stock market that’s something we do know okay unless you’re in a freak situation where everybody closes down the

Economy out of nowhere for you know next three years or something like that right you don’t go up or you don’t go down a straight line especially not up right it’s um you don’t take an elevator up you take a stairs up in in the stock market and that’s kind of the way it goes and right now we’ve gone down a few stairs let’s just put it that way but there’s nothing

You can derive from this situation my opinion the bulls can’t feel confident the bears can’t feel confident what just happened there is what should have happened there from you know about 13 2-ish to about 12-3 where that should have happened like you’re gonna have that happen in any type of market the big question now i think everybody’s looking at is like you

Know they saw this kind of thing they saw this thing and they’re like are we going to go back down to new lows that’s going to be determined upon cpi numbers that’s going to be determined upon uh obviously earnings right which in terms of big tech big tech’s not reported earnings again until two months from now now we do have some more big tech reporting this week

But really from my from what i remember it’s just nvidia and snow uh for this particular week okay now for me personally i’m looking to get back out there i’ve been cashing up pretty darn heavy over the past two months and just kind of taken this as a moment to catch my breath and get back in a good cash possession so my plan has been not to start deploying money

Into the market again until september essentially so i still got like a week here but i don’t know like if i if let’s say stocks are down big again tomorrow and the chef’s down big again tomorrow and palantir and some of these other stocks i think i’m gonna have to step in and be a buyer and if meta is down big tomorrow and in some of these other stocks that i’m

You know very interested in i’m gonna have to pull the trigger and i’m gonna have to let’s just call do some buying out there tomorrow which is a little ahead of kind of what i had planned to do but we’ll see we’ll see kind of what shakes out my my goal was to you know do hardly any buying in july in august and i’ve done a pretty good job of that as the market

Just kind of floated up floated up and just kind of like got to take a step back cash up put myself in a position of power now i’m in a position of power again and uh you know if this mark keeps tanking i’m in a position to obviously deploy some funds out there and that’s kind of what i’m looking to do it’s a big week out there guys i don’t know if you know if you

Didn’t get to see this video yet 44 000 people have gotten to see this so far i think we need another 44 000 to check out this video but you know basically i cover what exactly is going on this week so if you haven’t got the chance to see that or you forgot some of it go check that video out and uh because in the next 48 hours 72 hours we got a lot more going on

In the stock market this week guys i appreciate you joining me as always thanks for being here guys much love also if you’re looking to uh you basically get access to a couple courses i have for free right now check out the pin comment down there i’m gonna have those free for the next couple days here uh and then we’re likely gonna take those offline so if you’re

Looking to get access to those i basically had this free for like the last month check out pin comment down there and we’ll get you enrolled in whatever one’s the best course for you as far as that goes much love as always and have a great day

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They Just Sold Everything! | Why The Stock Market is Collapsing Now By Financial Education

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