 Hey guys, how you doing? I'm your host, the most important rich from rich TV live and wow Crazy week this week guys. It's been a very very very rocky road this week and we're going to talk about why Why are stocks falling? Why is bitcoin falling? And what is the reason? You know, I've been in the markets for 17 years. I've been in crypto for seven years and people are always trying to Tell me to buy this and buy that and then when I ask them why They just say because it's hot and I'm like that doesn't work for me I want to know why I should buy the stock like do they have revenue growth Are they profitable? Do they have assets on the balance sheet? What is the catalyst? Oh, it's just hot buy it because it's hot That's not good enough for me You know, I'm not buying something just because it's up And there's a lot of people in this market right now that are doing exactly that They're just buying stuff because it's up To me, that's mental. Okay, so I'm going to show you guys What's going on in the market? We're going to break it down I'm going to explain to you why I believe the market's going down in stocks and cryptocurrencies I'm going to explain to you why I don't think there's any reason to worry But I'm also going to talk about some of the things that do make me worry as an investor because I think You need to look at everything as an investor. You need to understand Everything with the companies that you're investing in so that you can have success in the market I don't think being successful in the market has anything to do with luck. Okay You can get lucky once in a while. You can also get unlucky once in a while in the market But I believe in order to be successful in the market You need to have a plan you need to stick to your plan and you need to really understand everything that you're investing in So if I'm going to invest in a stock, I want to know how many shares do they have I want to know who's the management team I want to know how much debt do they have on their balance sheet? How much equity do they have in their balance sheet? Are they profitable? Are they making money or losing money every quarter? These are extremely important things for me But I see a lot of people and I'm in all these group chats and I see all these people Oh, this stock's hot today. I got it. This stock's hot today. I got it But why are they hot? And then you read the news. There's no news To me that's sketchy for me. That's way too risky So what I want to do here at rich tv is I want to educate people to become great investors That understand the markets to understand why things are going up. Why things are going down And how can you take advantage of opportunities that exist in the marketplace? So let's get right into it and we're going to break it all down right here right now exclusively at rich tv I must remind you guys that rich tv live is strictly for information and education purposes Please do your due diligence do your research before you invest in anything we talk about or discuss And past performance is not always an indication of future results. I'm going to look at a lot of stocks today I'm going to look at some crypto some are hot some are not I'm not sitting here telling you to buy anything Okay, you need to do your own due diligence your own research You need to really understand what you're getting into Why you're buying it and you have to make sure that if you're investing in something You're investing with money you can afford to potentially lose because the markets are inherently risky and very volatile and things don't always go the way you want them to into in the markets and There's reasons why the markets go up at times and there's reasons why markets go down And you need to understand why so we're going to break it all down today Hopefully you guys can learn something from today's episode and if you have any questions, please put in the chat I'll do my best to answer your questions. If there's any picks you want me to look at Please put in the chat. I'll do my best to look at your picks as well Now we are streaming on multiple platforms everywhere Hello everyone wherever you are. I want to say hello. This is rich from rich tv live And we're going to break down all the biggest trending news of the day and I'm going to start with this right here And we will be looking at the markets, but I want to explain to you what is going on All right. So first and foremost Why is bitcoin going down? Okay. There's a lot of reasons why something goes down So bitcoin was going up because a lot of people were getting excited because bitcoin ETFs bitcoin spot ETFs were filing for approval with the securities and exchange commission When six different bitcoin spot ETFs were filing for approval With the securities and exchange commission. That was a huge boom in the bitcoin price however Just this week the sec the securities and exchange commission decided to delay All of the bitcoin ETF spot approvals until early 2024 So that big catalyst they'll get everybody excited to buy bitcoin Because they thought that maybe a bitcoin spot ETF would start getting approved in the second half of 2023 All that momentum is gone because the sec has now decided to delay the approvals until early 2024 So that brings all the excitement back in 2024 So if you had been investing in bitcoin Thinking that you'd make money in the second half of 2023 Now you're probably thinking well nothing's really going to happen now until 2024 So a lot of those investors are selling A lot of those people that bought for the the up on the bitcoin spot ETF approval Are now selling because they're realizing they got to put their money into something else because that momentum that Boom in the bitcoin market is no longer going to happen now until 2024 Which is still over four months away And that's what a lot of investors do. They're just chasing momentum. They're just chasing moves in the market. They're just literally hunting momentum So this is the reason why I believe bitcoin is not doing well right now. There's other reasons as well And I'm going to show you why But this is the biggest reason why I believe bitcoin is dropping because this is the biggest reason why bitcoin busted higher was because of all the bitcoin spot ETFs Looking to get approval by the sec and the first and biggest one was black rock and when black rock announced that they were filing for a bitcoin spot ETF Everybody jumped into bitcoin because black rock is the largest Institutional holder of assets in the world with over 10 trillion dollars in assets So obviously if they get approval, which it looks like they will in 2024 With the securities and exchange commission to have a bitcoin spot ETF that could signal millions of dollars flowing into bitcoin That is a massive catalyst for bitcoin. But because the sec is decided to delay this approval On six different bitcoin spot ETFs until early 2024 now I believe that don't that all of that momentum will happen in 2024 and in 2024 We have so many catalysts. We have six bitcoin spot ETFs looking to get approval And we have the bitcoin having event happening in March Those are massive catalysts for bitcoin all of which are now moving into 2024 Which I believe is now going to be a massive Massive year for bitcoin. And of course, I am a holder of bitcoin full disclosure. I'm a holder of bitcoin I'm not telling you guys to go and buy bitcoin. Okay. That's not why I'm doing this I'm just explaining to you guys what is happening in bitcoin and why And hopefully you guys can understand what's going on in the market and make good investing decisions That's why I'm here. I'm not here to tell you to own bitcoin. Yes full disclosure. I do own bitcoin I do own a theory. Okay, but I'm not telling you to go and buy bitcoin. That's not what I'm doing I'm trying to explain to you what's going on in the market so that you can make a good investing decision And you can have you can have success in the market Now there's another reason why bitcoin is actually going down and I'm going to show you why So one of the most influential people in the world if not the most influential person in the world today is Elon Musk Elon Musk owns another company called SpaceX SpaceX actually held 373 million dollars worth of bitcoin which they acquired in 2021 and 2022 Now the rumor is that SpaceX has sold their bitcoin So if this is true, then this is another reason why the price of bitcoin is going lower anytime you have The most influential or the richest man in the world in Elon Musk and he comes out and says Or there's rumors that are coming out and saying that SpaceX has sold all 373 million dollars of their bitcoin That's gonna could that's going to put a huge amount of selling pressure on bitcoin Not just because they're selling 373 million dollars of bitcoin, but also because of the fact that elan musk who's very Influential in the world of investing When he says he's going to sell any of his bitcoin that puts downward pressure on the price of bitcoin Now we're gonna look at the price of bitcoin You can see what's going on, but it is clearly dropping and it's dropping fast and literally right now But before I do that Okay, you know what? Let's just look at the price of bitcoin because it's it's crashing All right, it's crashing right now. So let's just look at it right here and right now So let's take a look at the price of bitcoin. Here we go All right, I'm gonna take a look at the price of bitcoins literally crashing right now as we speak Here we go. So bitcoin is at 25 721 You can see that bitcoin started its move up at around a similar price when the first of all the bitcoin spot ETFs With black rock was announced They made this huge move up and now Once the sec is decided they want to delay the approval of all these bitcoin spot ETFs until early 2024 That is dragged the entire market down and you can see the mac d on our Fibonacci here gave us the signal to sell bitcoin And bitcoin has been dropping Very very aggressively. So this is not a good thing for bitcoin clearly. It's not good that it's going down this fast It's not good that it's going down this aggressively. It's not nice when bitcoin drops like this It's not something when you're a holder of bitcoin that you like to see But the one thing that I must remind everyone is bitcoin started 2023 at 16 000 So even at 25 000 the price of bitcoin is up around 50 to 60 percent this year So it's still up a lot this year. So it's not like it's down. It's up a lot So this pullback is probably a very normal natural thing The same thing is happening in the stock market. The stock market has been going up all year And when the stock market got to a point where it started to get very heavily overbought I was signaling a sell. I was signaling that the market was too overbought I was telling everybody that i'm not buying anything at these prices Everything is way too high and the market has to come back and that's exactly what's happening We've had a literally a boom in the market all year and it happened until july Now all of a sudden august hit it's summertime people are on vacation People are seeing that the market is struggling. They're selling Credit card debt and consumer debt is at all-time highs people are Maxing up maxing their credit cards. They don't want to necessarily sell their homes So what are they going to do? They're going to sell their stocks. They're going to sell their crypto because it's easily accessible money That they can get access to within just a couple days This is what people are doing. People are selling their stocks. They're selling their crypto. Why stocks are up cryptos are up So it's natural that investors are going to take some profits That's what's happening in my opinion. That's what's happening now What's going on in the overall markets? The markets have been really high. The Dow Jones has been up all year The Nasdaq's been up all year the s&p 500 has been up all year So we had to assume that there was going to be something that was going to change at some point and There's this news that just came out in the world of china Evergrande files for bankruptcy in the united states fueling worries about china property crisis China has been struggling ever grand is The largest real estate business in china and they're filing for bankruptcy That's not a good thing that affects the entire global economy And when china one of the fastest growing countries in the world starts to slow down in its growth That affects the entire world. So this is one of the reasons why we are seeing that the overall markets are starting to lose strength And in reality, I don't feel like the markets deserve to be this strong Why would the markets deserve to be this strong? What would be the reason for the markets to deserve to be this strong the answer is nothing There is no reason why the markets deserve to be this strong. That's why they're dropping It's just makes sense like you have to when you're looking at the markets, you got to look at the overall picture Prices of real estate are ridiculous Prices of gas ridiculous prices of food ridiculous housing rentals ridiculous Everything is going up consumer debt all timelines People are not making more money People are now living at home more than ever. Why because they can't afford to drive because gas prices are too high They don't want to leave their houses because they don't want to spend any money And they're learning how to work from home Things are changing the world is changing. So as an investor you need to understand the overall picture And i'm not the guy that's just going to jump into a stock just because it's up 50% today I'm not going to jump into a crypto just because it's up 50% today and don't get me wrong A lot of people do that and some people have success doing that Amen all the power to you I wish you all the best of luck if that's how you want to invest But here at rich tv we want to be more fundamental investors That's why we interview CEOs so we can understand who's behind the company We can understand what's going on with the company We can understand what the future looks like for those companies. So as an investor we can make informed decisions Hopefully when we do these videos you can have a better understanding of what's going on in the markets And why things are going up and why they are going down and what's going to happen next But the reality is I just don't see and i'm a holder of bitcoin full disclosure. I've told you this I don't see what the big catalyst for bitcoin is now And that's a problem when you don't know what the next catalyst is until 2024 We've got september october november and december What's going to be the catalyst for bitcoin right now? And I think a lot of investors looking at that now and saying, you know what? Let me sell this now and let me put my money to work somewhere else I'll come back into bitcoin in 2024 because they got the bitcoin halving event They've got six bitcoins body tf's coming that's seven major catalysts that could potentially make bitcoin explode But I want to put my money to work somewhere else over the next four months And I believe that's why bitcoin today is at 25,779 Now we look at the one-year chart on bitcoin. You can see bitcoin's still up It's still up. So anyone that's been buying bitcoin this year is up So a lot of those investors now maybe you're thinking, oh, you know, let me sell right now before it goes lower And if it does go lower, I could just buy it back I think this is what is happening in the market. I mean, based on what I'm seeing here You know, you can see my mac d signals buys and sells right now There's a massive sell signal and I just do not see what the next catalyst is for bitcoin right now that's A problem and I'll watch this very carefully I'm going to be coming here with you guys every single week to break down what's going on on stocks and stacks And the bull and bear show and I'm going to be interviewing different CEOs all the time as well with different companies and stocks and crypto So we're always going to be keeping you guys updated on what's going on the market I just want to make sure you guys really truly understand what is happening. I'm not just a Fundamental investor that likes to invest in things based on their fundamentals based on the revenue growth based on the catalysts and the news I'm also a technical investor. I like to look at the markets. I like to look at their charts I like to look at their rsi the relative strength index. I like to look at the mac d I like to look at the bologna bands. I like to look at a lot the fibonacci's. I like to look at a lot of different things and right now Everything is signaling sell For me I'm going to show you a lot of different stuff going on the market all the different things that I've been looking at all week And I just haven't been able to find any trades It's been hard. It's been very hard to find trades because everything was so high And now things are starting to come down Which is signaling that it's a good time to start buying again And that is my signal to start buying So let's take a look at the markets and look at what is moving today. So bitcoin definitely down Proceed with caution with bitcoin right now. Now. This is a stock that's having a really big day And we're going to just look at the one day chart here Ionm so you can see here They are 73% on the day, but when I look at the company's financials, I'm not impressed I'm not impressed with their financials. I don't really like what I see This is a company making a million a quarter That's nothing and they're 50 cents, but they're up 73% today And I mean group chats and people are talking about how they're buying ionm But guys this company's losing money They're losing tons of money. They're only making a million a quarter So am I gonna buy something that's losing money that's up 73% today? Probably not And I'm just being honest with you. I'm really not that excited. Look at their one-year chart See how they've been coming down and they're just doing a debt cap bounce now. They're bouncing back up That doesn't excite me As an investor that doesn't excite me. Is it on my watch list? Yes. Is it on my radar? Yes But like I see stocks move and then the first thing I do is I look at their news And then I look at their financials and then when I look at their financials and I see this company is losing Tons of money It's really hard for me to get excited It's really hard for me to get excited So I'm just here to kind of tell you guys what's up and kind of break it down to make you guys really understand What I'm seeing and I'm telling you right now what I'm seeing. I'm not liking Just being straight with you what I'm seeing. I'm not liking And I'm not going to go and buy something if I don't like what I see And she can't do it. I can't get excited about it. I can't do it. I don't want to do it I'm not interested. There's so many different reasons why this is happening and And I just think everyone needs to be really really careful Because these markets are really risky and there's a lot of desperate traders right now that are just looking to make money And they'll just buy anything and when I'm in these group chats and I see these guys are buying these things and I ask them Why are you buying it? Did you see the companies losing tons of money? Have you seen their earnings results? Their earnings are terrible Yeah, well, you know, I'm just doing I'm scalping. I'm just looking for a quick trade Yeah, that doesn't work for me Sorry, I want to buy something because everything makes sense I want to buy something because I think because everything makes sense What's up? Hey, thank you for your question I hope it recovers, you know, I whenever a stock or crypto goes down. I always hope that we recover But at the end of the day, that's not up to me. That's up to that's up to the company That's up to the company. That's up to the management team. That's up to the CEO. That's up to the board That's up to the employees. They have to make the company work I'm just someone that tells the story of what's going on in the market I don't own any of these public companies I don't own any of these cryptos other than owning the physical crypto or physical stock. I don't own these companies I'm not on the management teams. I'm not on the board of directors I'm not a CEO of any of these companies or any of these cryptos So when someone asks me, do you think something's going to recover? I think you should look at the fundamentals of the company And the fundamentals of the company look bad and they're losing money Not a good sign Right, but if the fundamentals look good and the company's growing and the revenues are growing and the company's assets are growing Then it looks good. Those are the companies that I get excited about But it's very hard for me to get excited about a company that's losing money I think that just makes sense As investors, I think we need to be really informed about everything we're buying Everything we're investing in and really understand what's going on in the entire global global economy And I think when you do that you give yourself a better chance to have success in the market When you look at the best investor ever, his name is Warren Buffett Warren Buffett has done extremely well in every major market environment Last year when everything was crashing Warren Buffett was doing incredible This year Warren Buffett has done incredible Why? Because Warren Buffett likes to invest in fundamentals. He likes to invest in sure things He likes to invest in growing companies. He likes to invest in businesses that will be around for 20 years Warren Buffett actually looks at fundamentals. He looks at their finances He looks at their debt to their debt to equity ratios. He looks at the management team. He looks at their product He looks at their revenue growth. He looks at those things He doesn't just see a stock that's up 50% and then buy it and hope it's going to go up 100% so he can make 50% That's a very scary way to invest because a lot of times if you buy something that's already up 50% By the time you buy it, it's going to get shorted and go back down 20 or 30% And you're going to get stuck holding the bag This is a very common thing that happens to investors. That's why day traders 95 95% of day traders lose That's a fact 95% of day traders lose. However, a much higher percentage of long-term investors have success Those are facts My job is to make sure that as investors you guys are learning You guys are earning and you guys are understanding the markets So that you can make good informed decisions and you can beat the markets and make money That's extremely important to me and I want to make sure you guys understand that here's id. They're up 39% of the day Another one that you know when I look at the chart worries me, you know, like look at this It's come all the way down Getting beat down beat down beat down and then it bounces up. But why is it bouncing up? Does it have huge revenue growth? Does it have huge financials? Does it have a huge acquisition? Most of these penny stocks right now that I'm going to tell you about are junk Most of these penny stocks are either going bankrupt doing reverse splits being acquired Or just been beat down and they're bouncing up on a debt cap bounce and maybe day traders and short traders Maybe you're getting squeezed, but they're just doing a debt cap bounce Which is for me not a really good reason to buy that stock I don't want to buy a stock because it's bouncing for one day. I want to buy a stock that has a chance to continue to go up for a long time So when I see these stocks, I think you need to be really really careful and proceed with caution Here's top. This is not a penny stock. It's at seven dollars. It's up 28% of the day But you can see it's had this huge spike and then it's come back down And the mag d is giving me a sell signal Which is divergence because it's up even though the mag d has given me a sell signal So that's a lot of divergence. See the mag d. It's pointing down gives me a sell signal and it's going up Obviously they had some news today. They're going up. This is good Definitely wanted to watch I think top top put on your radar put on your watch list This doesn't want this a little bit of a better deal that I think has a little bit more interest You can see it's been much higher But I think you need to be really really careful here and proceed with caution I really think you need to be careful here and proceed with caution All right, let's take a look at ag in Now this is a little different. This is a company that I actually think has a chance to be very very successful They actually have a growing business They have a seven dollar price target Seven dollar price target by many institutions an average seven dollar price target and they're at a dollar 58 This is the type of company I like and then when you look at the one year chart, you can see they've been higher They've been a little bit lower and they're starting to come back up But they've got a seven dollar price target and they're a growing company and the rsi is showing that they are Near a goodbye zone This is a company that interests me that are up 19% on the date because an article article came out By one of the largest investors in america saying that he's buying this stock With a seven dollar price target And there's a lot of interest that this could reach that seven dollar price target in the next 12 months So if ag en hits that seven dollar price target in the next 12 months This could be you know a 300 or 400 percent gainer for investors These are the types of picks that I like These are the types of picks that get me excited These are the types of picks that I think you guys should be looking at companies that are undervalued underappreciated underexposed growing companies With a strong share structure. Let's take a look at their share structure ag en Always look at their share structure 369 million shares, so it's not like billions of shares like some penny stocks are at It's got not a tight flow, but a reasonable flow, but it's a growing company And some big institutions are getting in and like I said, they have a seven dollar price target And they're curling at a dollar 58 this I can wrap my head around This is a kind of trade that I can get excited about ag en I believe that you should put it on your radar put on your watch list agenis agenis ink health and technology biotechnology company And I think they have a lot of potential and they are up nicely today So put them on your radar and put them on your watch list All right, let's see here. Okay Now this is genius gns another one that's been higher Came back down and now is doing a debt cap balance So I think you need to really perceive a caution I I'm struggling to get excited about this company another company that's just got struggling financials And I know that they're raising capital. They're selling stock. That's a dilutive event Very hard for me to get excited about stocks that are dilutive companies that are struggling financially But they're up 15 of the day They've been very choppy up and down and you can see they're one-year chart and you can see Very choppy up and down and essentially just doing a debt cap balance. That's all they're doing But there's divergence here. You can see my mag D here and the mag D actually called a cell And then they went up So that's divergence divergence means you're getting mixed messages. You've got indicators telling yourself But it's going up. That's divergence mixed messages mixed signals Not my type of thing But I know I'm in a lot of groups and a lot of people are excited about this trade It could be an interesting day trade, but another one that I'm not that excited about just not But it's you know, it's having a nice day to be up 16% gms Here's modd. These guys were up a huge pre-market. I was watching them carefully. I did like their news I'm kind of I'm kind of interested in this one I am I'm not gonna lie because you could see it's come back down as well. It's definitely cheap But I'm also getting some divergence here because The mag D first said sell then it said buy So it was like sell and then immediately said buy a little bit of divergence mixed messages and it's climbing up so Interesting one. I think modd put it on your radar put on your watch list I'm watching it closely. It was a big pre-market. So had you bought a pre-market you'd be down Another one that like if you chase these things usually doesn't end very well for you So I think you need to really be careful and perceive a caution with all of the different stocks right now in the market Here's bntc Another one that's up 11% today the magd did call it by and it's climbing So that's interesting to me and then when I look at the one-year chart I can see it's come back down from a higher level and starting to bounce up so huge upside from here lots of opportunity And it did signal a buy here on the magd And the rsi is in a buy zone so Two indicators the magd signaling a buy see whenever the magd is blue here. It's signaling a buy And the rsi also in a buy zone. So two indicators signaling a buy and it's up 12 percent. I like that It's been higher. It's down That type of thing is something I can wrap my head around. So as an investor, that's what I'm looking for. I'm looking for Signals that make sense then from there. I still need to understand the fundamentals I still need to go and understand what does bntc do? How how much revenue do they have how much assets do they have what's their debt to equity ratio? What kind of products do they have how much money are they making every quarter? I want to know those things So I can have a good feel about this investment before I even think about buying it That's what rich tv is all about is really understanding Everything you're investing in so that you can make good informed decisions and you can be a successful long-term investor I want to be in this game for a long time I've been in this game for a long time. I've had lots of success I've also lost on stocks and crypto Lots of them and over the years I've learned that I want to be one of those investors that wants that loses less and wins more In order to lose less and win more you have to have a plan And in this world people don't plan to fail. They fail to plan So as an investor you have to have a very good plan and stick to it And I'm the type of guy like when people give me a stock I don't just immediately buy it in the past. I did And I'll tell you nine times out of 10. I lost So now I've learned to really respect my money And when someone gives me a stock or crypto, I don't just immediately buy it I go and I do my research first And then I think about whether or not I want to own it And if I want to own it how long I'm willing to hold it And if I'm not willing to buy it and hold it for at least one or two years Usually I don't buy it because if I'm not comfortable in holding something for a couple years Probably not something I'm going to buy Now that doesn't mean that if I buy a stock and it goes up 100% the next day that I'm not going to sell If I buy a stock or a crypto and it goes up 100% the next day, I'm probably going to sell But when I buy something I want to buy it with the confidence that I'd be willing to hold it for a couple years Otherwise I'm not going to buy it and and I take that mentality for Warren Buffett Warren Buffett believes that when he buys something and he buys a stock He wants to know that they're going to be a superpower in that industry for the next 20 years And if he can't hold that stock for 10 to 20 years, he won't even think about buying it He's not thinking about buying it short term. He's not looking to buy something for a short flip It doesn't mean that he won't sell it in six or 12 months. He might If the market conditions change, he might But he's buying something with the intention of I'm willing to hold for 10 to 20 years Because in 10 to 20 years, this can go up 10 or 20 x And I want to be in this stock for 10 to 20 years So I can see that price appreciation of 10 to 20 x over the next 10 to 20 years And I think that when you gain that mentality as an investor, you give yourself a better chance of having success And since we've been investing here since 2017 on rich tv live on youtube on social media all over social media with our trading community We've had ups. We've had downs. We've had a lot of success. We've had some failures When I look back at the failures There's been failures with cannabis stocks because the entire sector has been decimated That was a mistake because I thought the cannabis sector would be a huge success. I was wrong It's been a huge failure There's also been failures in the psychedelic sector. I thought the psychedelic sector would be a huge success It's been a huge failure so That taught me a lot. It humbled me and taught me that You can't just assume that because something's new it's going to be success That's not how it works You actually have to look at the balance sheet and understand whether or not that company or that industry Is going to be profitable and if that company or that industry is not going to be profitable Chances are that that company is not going to succeed The other thing I learned is that in every single industry Like cannabis and like psychedelics that have not been successful thus far There's probably only going to be one or two winners And those one or two winners are the ones that you want to own And those one or two winners are usually going to accumulate And consolidate all the smaller losers and failing companies that can't make money And that's what's happening in the cannabis sector That's what's happening in the psychedelic sector and that really taught me a lot Because when you lose you learn a lot when you win You don't really learn a lot because you feel really good. You're beating your chest You're you know, you're going out you're buying houses. You're buying cars. You're going on vacation You're enjoying your winnings, which you should But you're not thinking about what you did wrong or what you did right You're just enjoying your win when you lose Because you've got money that you've lost, you know, your account doesn't look good your portfolio doesn't look good You it gives you it humbles you and it gives you time to look at what you did wrong Where you went wrong and what you could have done differently And I think that that makes you a better investor But if you continue to just jump into stocks or cryptos or nfts or even real estate And you haven't had success and you continue to do what you've done in the past without having success Chances are you're going to continue to fail So you have to analyze everything you've done And if you haven't had success you need to analyze everything that you've done and Create a new play a new game plan a new playbook And create a strategy that's going to give you success So i'm going to be honest with you last year when the market crashed was a very humbling experience I did not do well last year. I'm not going to lie to you last year In the markets was a very humbling year for me Because everything went down stocks went down crypto went down and i'm holding stocks and crypto And they all went down it was tough But what I did do Thank goodness. Thank god for this. Thank you lord for protecting me Because I bought bitcoin. I bought ethereum those two And I bought a lot of it and i'm still holding my bitcoin in ethereum I bought bitcoin and ethereum And I bought bitcoin stocks Bitcoin ETFs I bought apple tesla I bought Shopify I bought Google I bought amazon All of them went up this year I sold apple tesla google amazon Shopify And some other stocks as well, but those are the major big ones the big names I bought them all last year and this year I sold them all With profit So this year has been a great year But I have not sold my bitcoin. I have not sold my ethereum. Now you're going to ask me why The reason why I haven't sold my bitcoin in ethereum is because I believe that they're going to go higher with massive catalysts coming bitcoin having In march of 2024, which is now seven months away And Now six bitcoin spot ETFs which are all expected to be approved in the early part of 2024 That gives us seven massive catalysts for bitcoin In the next seven months Most of which will happen in the first quarter or the first half of 2024 So I believe 2024 is going to be a magical year for bitcoin And being a bitcoin holder and an ethereum holder. I'm very excited about that That's why I'm not selling my bitcoin and my theory But why did I sell those stocks because I felt like everything was so high And they had to come back down and I've sold and now they're starting to come back down So now my mentality is I'm thinking about getting it again So let's take a look at the market again. So let's take a look at some of the other stocks that are having good days Here's ebet. You could see they've come down And now they're starting to come back up But another one of those stocks that when I look at their fundamentals and I look at their financials I'm not impressed. It's at seven sex a seven cents. They're pretty much almost bankrupt So I'm not buying this stock I'm not doing it But there's people buying the stock name and all the power to you but for me that doesn't interest me I can't do it But I know some of you guys are doing it all the power to you. I wish you the best of luck I just can't do it. I can't Uh, I got no interest in it. Here's vcig another one that's been higher It's been a little bit lower and it's starting to come up this a little bit of a better deal Still not really a profitable company But a company that is a better deal than a lot of these other companies that are penny stocks that are just hype stocks Momentum trades people are just scalping for a quick 10 20 percent. This is actually a better deal It's a 12 percent of the day vcig and let's take a look at their share structure Very important to understand the share structure because if it's a tight float stock it always has a chance to go higher always All right Okay, vcig only has 1.8 million shares in the float. That's a tight float So these are the types of stocks that can really explode when they only have 1.8 million shares So I like that. See there's got to be a reason why I like it to me. That gets me excited Honestly, that gets me excited 1 million shares vcig could potentially go to the moon Because there's only 1.8 million shares That's the type of thing that gets me excited Right when I see that they have huge amount of shares I get excited When they have a tight amount of shares like a small amount of shares I get excited If I see a huge amount of shares I get worried because I think about dilution I think about People wanting to sell because there's so many shares out there Or if it's crypto so many coins out there that people are going to be dumping into you That doesn't get me excited. That actually gets me worried All right Man time is flying by while I'm showing you guys what's going on the market So vcig is one that I think everyone should be aware of here's tt o o This is another penny stock that everybody's talking about in the world of penny worlds Another one that doesn't really get me that excited, but it's uh, it's moving You know, it's moving. So definitely want to watch put on your radar put on your watch list and shares in the floats 282 million shares in the float. So another one that like I said penny one That probably not the greatest when you look at the fundamentals because I've looked at it and it didn't get me that pressed but a lot of you know guys that are looking for momentum are Just desperately looking for you know, five 10 15 20 percent moves and they'll buy these types of stocks and they're up 17 of the day Here's wavd up 18 of the day another one at 50 cents proceed with caution But tight flow I like to tight floaters only 15 million shares in the float That's why they have a chance to explode So a good one to put on your radar and put on your watch list wave d wavd Here's slng They're going up the mac d did call a buy you could see the rsi here was at a decent buy zone decent play up nine percent of the day put slng on your radar and on your watch list All right, so here's one that I am interested in buying Okay, so kind of frustrated I was really busy this week and I didn't get a chance to buy this dip But I've been talking about rml to my community for months. These guys were at five cents They went to a high of 52 cents in canada I believe they're at like a high of about 40 cents in the u.s. The symbol is rml in canada rml ff in america, so They're now at 46 and a half cents up 10 of the day They went up to 52 cents in canada and then sold off and this week went to 28 28 would have been amazing buy, but unfortunately I was really busy I didn't get a chance to buy it and I missed it and I'm frustrated because I should have bought it I wanted to buy it. I thought about buying it, but I wasn't around to do it And I missed it and look at what it did it bounced gave investors a chance to get back in and it's bouncing right back up Now, why do I like the star? This is a company that has a one billion dollar settlement with the government of venezuela If the one billion dollar settlement comes through I believe that this could go to at least a dollar maybe as high as three to five bucks If that happens, this gives us a chance to get huge upside Now you do need to know that this started at five cents a few months ago. It's at 45 cents in canada. It's up 900 So I'm not going to tell you to buy it, but I'm interested in buying it myself Do your own due diligence do your research, but when I see there's a company that's a penny stock at 45 cents in canada And let's take a look at it in america. What's it at today in america? So in america they are currently at 33 cents So they've been you know a little bit higher in america But you can see that they are up hundreds of percent on the year Okay, hundreds of percent like as of now, they're up 581 percent. That's a big big big move, right? Okay, let's put them beside each other as I speak rumble rml is dropping So the more they drop the more I want to buy it, but look at rml You can see as of now. It's up 600 percent This year in the last few months. So Am I telling you to buy it? No, I'm not telling you to buy anything. I never tell anyone to buy anything and never tell them to sell anything I'm telling you that I'm interested in buying it I'm thinking about buying it, but I haven't bought it because it just kept going higher and higher and higher So it's been very difficult for me to get into this But I want to get into it and I'm going to and when I do I'll let you guys know And if you're a vip member in my trading community, you will know first Everyone that was in my trading community has learned about rml since it was at seven cents It started at five it went to seven it started telling people at seven and it's now at 44 and a half cents in canada and 33 almost 34 cents in america It's been a huge success and why not just because of hype not because of momentum not because of Day traders not because of a short squeeze because of a one billion dollar settlement That they're working on that could get settled as early as October of this year and we're in august If that happens, I believe we will see this be at at least a dollar But like I said a billion dollar settlement for a penny stock could take this to three bucks four bucks five bucks I don't know, but I think it's going to go much higher. That's why it's going up This is what I want you guys to be able to learn how to do as investors Understand why a stock's going up Understand what the catalysts are so that you can make a good informed decision that makes sense as opposed to Oh, the stock's up 600. Let me just buy it and hope to go as up a thousand percent and I can make 400 percent Does that make sense? I hope that's making sense Hey, what's up, brah? Good to see you too, brother. How you doing man? You have any questions about any stocks any cryptos any NFTs anything? Please put in the chat I'll obviously do my best to always give you the best information and guidance that I can my friend Hope you're doing well and I want to wish everyone a fantastic weekend. It is a friday I've got about 10 minutes left where I'm going to stay live and continue to show you guys what I'm looking at But these are the stocks that I'm really interested in right now and I've been watching all week All right, let me just tell you about some other stuff that's going on. That's got my attention Let's see here Oh Let's talk about This Let's talk about this. Let's talk about this Okay, let's talk about this What the heck is it? Okay one second. Hold on Tesla So I sold my Tesla this year. Okay, and I'm thinking about getting back in I'm thinking about getting back and I'm going to show you what That's the funniest picture of Elon That is so cool. How did that happen? See that picture of Elon? That was so cool I've never seen that before on trading view but that was cool, man And I have no idea where that came from. That was cool. So I sold my Tesla I sold it too soon It went up sold it and then went up even higher, but now it's coming down So if you sold your Tesla and it went even higher like me and now it's coming down And it's probably coming down with the price of Bitcoin, which is fine Now I'm thinking about getting into Tesla again because Elon's the richest man in the world Tesla is one of the fastest growing companies in the world Electric vehicles are only getting bigger and bigger and Tesla is the biggest leader in the world of electric vehicles So this huge pullback Is very interesting to me, you know, because as an investor, that's what I'm looking for Right. I'm looking for something that makes sense Right. I'm looking for something that makes sense to me And when Tesla dropped to a hundred bucks, I bought it. Then it went up. I sold it And it went up even higher and it to got to the point where I felt like it was overbought So I never called the buy I waited and waited and waited for this big sell-off and that's happening So the sell-off is happening now like look at that huge sell-off, right? Big massive sell-off and the mag D did call it look right there It said sell-off and look rsi is now back in a buy zone So as an investor, I'm starting to get excited about buying Tesla again because I want to buy things when they're down I want to buy good growing companies when they're down like I did last year and sell them when they're up So this year I sold all of those stocks that I bought last year And now that they're starting to go back down now. I'm thinking about buying them again, but I'm wondering will Tesla go lower He could It definitely could but the thing that I'm thinking about here is This rsi isn't such a decent zone that A part of me thinks that It is a good buy because it's in a buy zone for the rsi So a part of me really thinks this is a good buy Which is crazy because it started the year at 100 bucks and now it's the 215. So why would I want to buy it? It's the elan effect. You know, it's elan musk. You know, it just feels like it's going to go higher So I'm going to watch this carefully. I'm not buying it right now But those are two stocks that I'm really thinking about buying. I'm thinking about buying tesla I'm thinking about buying. We're sorrow mining Um, I am thinking about buying and I told you guys earlier here A g en it's now up 21 percent. So it just keeps going up So I'm not the only one saying this other people are thinking this too because it's going higher And another one that I'm interested in is prax this is another one that is Being bought by one of the largest investors on wall street He's given it a seven dollar price target in the next 12 months. It's at a dollar 44 And it's up seven percent of the day I like that now when I look at the share structure 113 million shares in the float. So it's got a very responsible float only 113 million shares I can wrap my head around that I can get excited about that. I like the share structure I like the company. I like the fact that they've got revenue growth potential And I like the fact that big institutional investors that are quality fundamental investors believe in the deal That's the type of thing I can get excited about So prax tesla These are trades that I'm Recurramining these are trades that I'm all thinking about getting into I haven't bought them yet but these are all trades that I'm thinking about right now And you can see here prax is actually still down 53 percent on the year So they're cheap They've got huge upside and they're down As an investor That gets me excited Right That's the type of thing that gets me excited Makes me feel like there's a lot of potential upside When I see this type of trade idea All right, now let's take a look at one more What was I thinking about next there's one more? Oh walmart I really like walmart And there's many different reasons, but most of them are fundamental. So walmart is at $158 And up 1.7 percent But the reason why I like walmart is they just reported a very strong quarter. So this is a fundamental trade This is more of just like quality company Fundamentally reported a very strong quarter And it's a quality company that I really like and when you see good quality companies And they have good quarters Then you have to put them on your radar and put them on your watches now They're up 14 on the year So they've been climbing up like most things but 14 isn't much So I still feel like there's some chance and opportunity here if you look at the five-year chart, you can see they've been higher They've been higher right So It definitely interests me, you know It interests me a lot knowing that it's been higher And I feel like there is some serious opportunity here Serious serious opportunity here Which I get excited about I love opportunity as an investor and walmart here is just quality company And they were given a 168 price target from another institution currently at 158 So I just don't know see when I look at that I don't know if there's enough room for there for me to get excited, you know 10 bucks You know, so it's doing well. They just reported strong But hard for me to get too excited about it because when I see that it's got like 168 price target It's sitting at 158. I like it. He just reported strong But everything is pulling back right now And he just reported a really strong quarter and it's only up 1% So that worries me a little bit So probably not something I'm going to buy but definitely something I'm watching closely because of the fact that they You know, it's walmart. I mean We all shop a walmart. I know I do so I think there's just so much potential I really believe there's so much potential So this is just me looking at the indicators directly with Just looking at the charts and the candles with no indicators And you can see that it looks pretty strong over the last five years walmart's got a pretty strong trajectory This is just another one of the quality names that I think if you're looking to put in your portfolio quality company This is one that you should definitely be looking at walmart So that's what's kind of going on overall in the week. That's what's happening overall That's kind of what's been capturing my attention There's anything else. Here's another one that I'm interested in is tillray. So Tillray is one that I own full disclosure It's one of those cannabis companies that's been in the same category of cannabis companies. That's been just destroyed But they seem to be doing good things. They keep acquiring businesses They've been acquiring beverage businesses beverage companies cannabis companies They're one of the companies that's becoming a cannabis giant that seems to be acquiring everybody and look they're way down Way down Right 2021 they're at 27 bucks. They're sitting at three dollars and 61 cents in canada So I really have a lot of interest in this and full disclosure. I own it So I'm not trying to tell you to buy it, but as a straight pure investment. I'm very interested in this I'm extremely interested in this. Okay So that's what I'm showing you this you can see the magdi is calling a buy And the rsi is in a good buy zone. So that's two indicators signaling a buy They continue to do good things. They continue to buy these businesses They continue to do the right thing, but they're still not profitable That's why they're trading down in this region. If these guys can turn the corner and get profitable I think tillray could easily be a 10x So this is another one of those trades that I'm interested in and I own some and I'm going to probably buy some more Tillray because I just feel like long term if they can turn the corner become profitable, which I believe they're going in that direction I really believe that tillray could be a 10x That's my opinion. Love to know what you guys think about it tillray Put on your radar put on your watches if you like these videos Please smash the like button comment down below share the video everywhere and subscribe And I hope you guys learned something from today's episode Hope you guys are learning all the time If you like to learn more about rich tv you can join our website our email list is growing Over 15 000 members worldwide getting our emails now When we give you guys alerts news ideas trending topics and we're going to continue to And give you trade ideas like we've been doing for years Hope you guys are enjoying the show You can go to rich tv.io and join absolutely free If you want to get all my own personal trade ideas and my daily alerts for stocks cryptos 24 hours a day 7 days a week And trending topics and breaking news you can become a vip member at rich tv.io And get all of the back end access first and become a vip member or join rich tv.io and get Tons of information at your fingertips just like this show today Absolutely free. Thank you guys for watching if you're not winning. You're probably not watching We're bringing the winners news trending topics co interviews Engaging shows and we bring it to you first Exclusively here at rich tv live. Thank you for watching. Have a great weekend I really believe that it's going to be a tough month and i've been saying that In july about august and that's exactly what's happened I do believe that september things will start to get a little bit better especially for small caps But I do believe that it will probably be a little bit of a slower month in september too. Why seasonality September's like typically Historically has always been a bad month in the markets So I do believe that we're going to have a choppy six weeks between now and october, but I believe that Historically seasonality october november will probably have pretty good months So I'm thinking what's going to happen is in the next six weeks We'll have a little bit of a pullback in the market in stocks and crypto So that we have another setup for everything to explode again in october and november Maybe december and then that leads us into 2024 where we've got all these catalysts for bitcoin Bitcoin having coming six bitcoin ETFs where I believe we're going to have a magical 2024 So stay tuned. I'll give you guys all the updates as they happen Exclusively at rich tv. Thank you for watching everybody. Have a great day. Have a great weekend. I'm out peace