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Holy smokers guys this stock market ain’t no dang jokers there’s stocks crashing all over the place we gotta talk about what in the heck is going on out there unless you own uh only big tech stocks yeah the pain is real and it’s substantial and i want to explain exactly what’s going on here make sure you subscribe to the channel because we have more pain to come

Okay teledoc down nine percent voyager down seven and a half percent the chef’s down seven percent fubo’s down a six percent plan is down five point eight percent wins down five point one percent lucid and rivien are down 15 and 16 after i think yesterday they’re down 15 and 16 as well corsair gaming down four percent on it’s down 3.7 percent palantir down 3.4

Percent beyond me down 3 smile direct club down 2.9 percent sam down 2.65 percent ali baba down eleven percent oh the pain is real even kryptos are going down that’s when you know it’s getting rough out there roku down three point three percent it’s ugly out there guys needless to say if you own anything pretty much outside of big tech you’re probably getting

Destroyed today just straight up like uh yeah it’s it’s rough rough and just ruff-ruff okay that’s the best way i can describe it out there now on the flip side you’ve got some stocks that are just totally bucking the trend i i told you guys about big tech look at rivie and er excuse me now rivie and i cnr i think rivian definitely not rivian today okay revolve

Look at or this is a great thing about an unedited video look at revolve rvlv okay i mean the stock shows strength today but look at this has been a great performing stock right and so keep this in mind keep this in the back your head here because this is a been a an unbelievable performing stock throughout the year and it continues to on a day like today when

There’s countless other stocks just getting absolutely decimated and there’s not like there’s any real reason in terms it’s not like all these companies came out with earnings or something like that okay there is a reason why all those stocks are selling off that we’re going to get into but it’s not for that right look at tesla miles today like this isn’t even

A big downward day for the stock it’s down one percent say nothing for tesla but it tesla’s been doing pretty good right so it’s kind of bucking the trend and tesla’s because it’s now in the trillion dollar boys club it’s kind of almost like getting in with the apple and the amazon mix and those stocks are kind of almost starting to move together if you look at

Facebook or excuse me if you look at meta platforms meta platforms look at down point four for six percent today that’s nothing for a downward move skyward solutions a big semiconductor company i own look at this one hardly down today down point one percent by the way dividend comment for skyworks for anybody that owns that stock okay walgreens boots alliance i

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Mean you look at this stock here today uh basically break even on the day walgreens has been a pretty good stock this year so that stocks break break even brian sent me this this is a heat map of what’s going on out there look at look what’s holding the market together it’s microsoft it’s apple it’s nvidia nvidia is having a great day another one of those stocks

Has been performing great and still is performing great right eight percent don’t think that will last forever but it’s lasting right now that’s for dang sure texas instruments two percent amd two percent google mcdougall one percent uh amazon three almost three and a half percent right home depot two and a half percent so it’s big dogs holding this whole thing

Together small caps and any stock that has been on down trending stock this year is just boom boom boom boom boom getting put in the dirt okay that’s the best way to describe it now what’s going on here essentially i think a lot of folks are wondering that well first off today as of recording this is november 18th which now means we are in the back half of november

Right now i don’t know if you guys know about this but selling losing stocks at the end of the year okay so essentially a lot of people like to sell losing stocks at the end of the year and then buy them back at the beginning of the next year and the reason you do this is so you can offset some of your gains you’ve had on stocks right now you might think well

Everybody must wait till the last day of december no because people aren’t idiots okay or at least uh well at least most of people uh that are that have big money aren’t idiots okay those people realize no you otherwise you just crash the market if everybody all of a sudden sells out and takes all their losses on december 31st it’s not the way you do it the way

You do it is you start selling out in the back half of november you beat everybody to the trend to sell your losing stocks and then as soon as january hits you buy those stocks back and this is why a lot of times you this is even a thing that’s talked about in the stock market where essentially it’s like by by the losing stocks like buy the the worst stocks in the

Dow something like that and in january like it’s literally a strategy that some folks employ okay and so if you’re looking at this like everybody doesn’t wait to sell how they’re losing stocks until december 31st that isn’t the way it works okay and here’s the thing okay investors looking to write off any capital losses need to be aware of wash sales which can


Derail their attempt to claim a deduction during tax time a wash sale is one of the key pitfalls to avoid when trying to take advantage of tax loss harvesting to redu to reduce your taxes and we know everybody’s always trying to reduce their taxes right so a wash sale a wash sale is when you sell an asset such as a stock or bond but have purchased the same asset

Very similar within 30 days before after the sale so essentially if you want to buy a stock back in january let’s say the first week of january you got to sell now you got to sell here at the beginning of november take your loss if you wait all the way till the end of december right then you you gotta wait all the way until pretty much february to buy that stock

Back right and so you’re lagging everybody essentially so the the bigger money or folks that have more money there they understand the stock market is one big game of getting ahead of everybody else right and so they’re like i’m going to take my losses now right sell the stocks you see a massive sell-off like we have today and so many stocks is disgusting right and

Almost all those stocks that we went through or have been performing horribly the whole year right or at least the the last six nine months right and so those stocks people are in in those and they’re saying let me go ahead and take my loss now and if they want to buy back in january they can buy back in january if they don’t want to buy back they don’t have to

Buy back right so they beat the trend they beat everybody else to selling out of those positions and that’s how you get this massive downward move and countless of these stocks out of just honestly to be quite frank nowhere okay and so this is very very important to keep in mind if you know i look at something like my tesla position right this is a stock you know

Think about it right i don’t i kind of don’t want to sell tesla not just because of the company fundamentals and those sorts of things but at the end of the day when it comes to google tests on my esla i look at the stock and i’m like i’m gonna have to pay crazy taxes on this i put thirty four thousand dollars into this stock in this particular account and those

Shares are now worth eight hundred and six thousand dollars this is a big tax liability i’m gonna have when i sell other stock right so it’s not like i’m in a rush to sell other stock however there’s been plenty of other profits i’ve taken this year we’ve made six figures in profits taken in the public account this year right and so if i was to look at something it

There’s certainly a certain amount of people out there that look at that and be like hey let’s take some of these losses let’s buy some of these stocks back in january they probably won’t have moved that’s what a lot of people assume now that’s the dangerous part of this game okay is if the stock moves huge over the next month or two then you kind of get screwed

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In the whole situation right but a lot of folks look at these stocks and they’re like you know why is alibaba also going to move up 20 30 40 percent right the people are like that’s not going to happen right why is um you know of course they’re gonna move corsair hasn’t been doing anything it’s been 24 to 27 dollars for like uh the all of mankind’s history so why

Is corsair gonna also move why not just take the loss go ahead buy back in january probably be the same price anyways right and so that’s the way a lot of people get into this mindset in the way they like to think right i’m not going to say it’s right or wrong it’s just a strategy that’s employed in the market that you kind of have to understand in the scenario

Right and so when it comes to me i’m not somebody that does the whole tax loss harvesting thing and tries to buy back in because i once again that gets into this whole mint i’m not saying it’s a bad strategy it’s just it gets you into this whole mentality of like okay i gotta try to sell this dog i got to try to buy it back now and you start getting into more of

Like a trading mentality which is just a route i don’t want to go down i’m like yeah it sucks to be down on a stock it sucks to get destroyed on a day like today uh but at the end of the day i think a lot of these stocks are going to end up thriving over the coming years and you know all i care about is the next you know huge gainer the next revolve the next tesla

Those sorts of stocks and i think i’m getting into some of those and so i’m not going to trip off of trying to you know tax loss harvest this way in this way and things like that so but you got to understand there’s different people that have different ideas and different strategies in the market and um if they’re smart they’re doing it right now because you don’t

Wait till december then then you’re you’re you’re uh what they call dumb money at that point right you’re just um you know doing what everybody else is doing or how everybody else is thinking right so and another this is another reason by the way that we we might not see a massive sell-off at the very end of december because essentially a lot of folks will have

Already taken their losses and already you know implemented this strategy so anyways guys much love as always have a great day

Transcribed from video

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