 What's up guys in this podcast James and I discussed the Elon Musk deal the overall market and some current world events We also go over some steps to use real-world events to identify setups in the current market conditions So stick around listen up because you're not gonna want to miss this one What's going on guys? We're back with another episode of the after-hours podcast Today we're gonna talk about Elon Musk who has been a pretty much a frequent in the news lately as a recently he sold a Colossal ton of Tesla shares While the stock has also been collapsing And I kind of that's gonna be the main main focus right now. So Harry you want to kind of lead us off into that? Yeah, so First of all Elon Musk paid around 44 billion for Twitter Grossly grossly overpaid you know and That was a controversy in itself because there were a lot of people on the left who were upset about Kind of the censorship being gone and stuff like that and now that he's bought it He's been releasing daily these Twitter files about what is going on behind the scenes there were Reports that he was releasing that the Biden administration was in contact with Twitter almost directly all the time Censoring people's tweets You know like if if they didn't like a tweet they would text you or not you on but they would text the CEOs and people in Twitter and say hey like this isn't good for us. Can you please remove it? So there have been a lot of controversies like that as well as there was some stuff about Donald Trump And stuff like that and the banning of his account and ways that they did it and suspensions So I mean it is pretty crazy considering we had a sitting president in the White House at that time and People on the other side would text and say can we get this removed? So it is a little bit nuts to me thinking You know when you hear about it now you always kind of think oh well Biden was in power So it kind of makes sense that they would talk with these social media giants, but Trump was president at the time So when you have a sitting president at the time and a different political party Messaging a giant social media platform trying to get a sitting president out that's why I think the the controversy has really come and you know It it's really crazy because I'm just looking here like Twitter has definitely struggled to maintain any steady profit You know they've had 13 billion in debt You know It's just it's literally insane You know Twitter had just 1.7 billion in debt, but now it will be on the hook for 1.2 billion in interest payments each year so I mean There is a lot of you know just like as far as business deals go. This was a pretty bad one, but I think you know Yeah, he's he's been in a situation and also I just want to talk about that You know in in so in like near kind of August He sold six point nine billion dollars worth of Tesla stock and now in November He sold another three point nine five billion and like a lot of people are saying like yeah It's put massive pressure on Tesla stock and also another situation that in my opinion is pretty crazy is just the fact that You know Tesla is getting punished for this and you know, he grossly overpaid and Now we're kind of in this situation where he is pretty stuck Just kind of due to like almost like a joke on Twitter that ended up somehow becoming real it's like a twilight situation and This is kind of where we're at. He's just selling Tesla to kind of fund his business and one more thing is that What I read is that In San Francisco on their office, they were a little bit behind on rent as well So, you know as when those reports started to come out The Tesla stock started selling and you know, he just was on the hook to pay for a lot of stuff. So yeah It's crazy. So so I have a few things. So I think I think The problem with the Twitter acquisition was I think Elon Musk was kind of front of the front of the movement of this freedom of speech idea and had he loved Twitter Elon has always a platform for himself and if anything it's only benefited him And I think that he really liked the concept of this town square where people could come That's what he calls it to to come debate have have intellectual conversations with one another Yeah, and I think that He had intentions of potentially buying Twitter when he made the joke. I think that He realized quickly That I mean listen, he's a smart guy and when he made when he tweeted that He could have easily said like non-gone-through with an offer like he didn't have to make an actual offer Just because he tweeted it. He doesn't have to do that, right? But it kind of sparked this whole thing and I think it got his brain moving I think he realized quickly that he did over pay for Twitter because I think at the same time The war in Ukraine was kind of starting and I think that he realized that the stock market was probably gonna come down He probably could have paid like 10 billion or maybe 20 billion if he just waited a couple months Yeah, and I think he's one of the smartest guys on the planet. I think he knows that if you followed with Tesla for a long time He has said for a very very very long time that that Tesla was highly overvalued as a stock, right? He's always said it like when when Tesla was trading at a thousand dollars a share like free split But like he was always saying like we are highly overvalued, you know, and it's not a bad thing He's they are a car company. Yeah, so I think the thing is like I Think Elon sees the playing field and I think he understood like I don't really ever think he's making a move that He doesn't understand what's gonna come next. I think he's boxed himself in a little bit here Because yes, Twitter. He says it Twitter has not been making money for a very long time, right? But I almost feel like in this scenario. He has taken on the the Burden of like this company and like maybe losing money himself personally to turn it into something great Yeah, I would bet a large sum of money that Tesla will end up buying Twitter I that's honestly a theory that I really have and I mean Twitter's a private company now And I think that's what's gonna end up happening Because I think I think in a whole Elon has this giant idea of a company that will be sustainable energy cars Speech, you know able to connect with each other in all of that. So I do feel like he has a direction That he's going I think it's a little using for guys like us to see the playing field because I Met guys who've worked with Elon Musk and they say that his brain works at a level that just we can't compute You know and if you follow you learn in the past Yes, he's selling Tesla shares to pay for this He's personally taking a massive wealth hit and if you follow guys like Barry Ritholtz on Twitter Who is a very smart guy but says the same thing we're watching a guy blow up tons of his personal net worth Which might be the largest like slope of net worth on a single individual in history That is not something that's uncommon to Elon Musk. He when he sold his first company He then used all of his profits says go into PayPal when he sold all when he sold PayPal He's all those profits to go into solar city. I mean, I'm I'm sorry into SpaceX and Tesla and you know, he's gone from being a wealthy man to a non wealthy man on You know overnight before and not saying that that will happen this time But when he goes into something he goes full force and fall into it And if I'm gonna bet my life on someone it's it's probably gonna be Elon Musk to be honest Yeah, and I also think just from you know from a standpoint like that You know there has been a lot of controversy You know just just all over like I've never seen this much negative attention in a long time You know as far as business dealings go, you know, like this has been split now You have like Congress may be trying to get him to Testify, you know, because they're mad because you know, he's more, you know, right wing and It's interesting because like I don't even know if he's necessarily right wing Like it seems like right wing nowadays is that you want free speech and that you want people to have different types of opinions and that you know It just seems like that to me But I do think like he's it's not going to be an easy one for him and and what I think is is wild too is that You know the White House Like they don't even mention Tesla at all like they say oh, you know There's GM has been making amazing strides in the electric car market And they don't even come close to Tesla, you know and Tesla is an American company Like you should be bragging saying wow Tesla's doing so great Like we're selling these cars are going all over the world like there's Tesla's now probably in every city But instead they're like well GM's been making good strides Like that doesn't really make sense to me, you know despite, you know, Elon Musk not liking you It doesn't mean that you just completely ignore him. Like I feel like that makes a situation a lot worse Yeah, I think the problem is that first of all with these other car companies There's never been an individual Like since someone like Henry Ford who like actually ran his car company and was an icon and like face of a company There hasn't really been someone like that in a very long time Especially connected to so much personal wealth and I think the problem is that Elon Musk poses a threat to two governments Because he almost has attained a wealth level. I mean he could have without this Twitter acquisition He almost was going to attain a wealth level of that of probably a trillionaire Which is ridiculous even think about but that's probably the direction he was heading and at some point there are people that almost are richer than Not Richard monetary wise, but like Wealthier than governments in the fact that like he's so rich he could just leave and just do whatever and people trust him And I think that he poses a real threat to them with this Twitter thing because he's a lot He basically saying like not even just government to news to like he's almost saying like, you know You don't have to watch Fox. You don't have to watch CNN You come to this personal towns this town square and and you get accurate information that will be, you know treated with Respect by each other and you can debate and you can have this this half This is how it should be so I don't think governments love that concept because Governments news sources a lot of them kind of run on the concept of fear and like news Longering and like all that's fear mongering and like news just Over saturation and all that stuff So I think a lot of people don't like that and I think that you know It's funny when I talk to people who aren't too familiar with the With him in like his situation most people jump to saying like they don't like Elon Musk without actually Understanding what he's doing You know, I mean like he was at the World Cup in Qatar You know with the Saudis and like Jared Kushner and like all this stuff and I think people jump to said all these crazy conclusions and all that stuff and You know, I I don't know I'm I personally mean in the band that I like him, you know, I if I'm wrong I'm wrong. I think he has good intention I think he's really smart and I think that All in all like if you are a Tesla Tesla shareholder Or SpaceX like you like SpaceX like it and you know, they're not probably public like that But you're you're believing in Elon Musk. You're believing the guy Not the company so that's kind of my whole take on on his his positions on on his companies right now Yeah, no, I mean same here I think that I'm definitely cheering him on and I definitely feel like the media has kind of been programming people like Certainly like they did with Trump where like with Trump It was like orange man badge, you know, and now it's like Elon Musk bad like, you know, so I Definitely see the same pattern I just hope that he can kind of like get through it and manage it because You know, I mean to me like I know a lot of people have been like trashing you on and stuff like that but to me I think You know, it's definitely important to to have someone like him especially He's not he's more like moderate like he said he voted Democrat like for a long time You know, but he just can't anymore because he sees the way that the situation is going and like I think that's where a lot I have a lot of us feel as well where It's like, you know, I can't vote in the States, but you know, I see, you know Two parties on either side very very extreme But you know, you have to look like what's the lesser of the two evils, you know, like long-term sustainability as far as spending goes as far as, you know Management to goes as far as culture goes, you know I've definitely probably be leaning more towards Elon Musk than some of these other characters right now Didn't like now he's getting attacked by by senators like I know Elizabeth Warren and him kind of had a little spat on Twitter And he she basically was asking like have people been affected by it has to have Tesla shareholders been affected by Elon Musk in His acquisition of Twitter and the reality is like when when he bought Twitter, right? I mean the market was doing decently. Well, we hadn't really started this like massive collapse that we have yet Like we obviously were coming down, but it wasn't as drastic So reality is like the stock market is coming down There's not a single stock like in the S&P that is performing like incredibly well this year So Tesla stock was coming down regardless and then as a shareholder You kind of had to know that his attention was gonna ship So you had ample opportunity to sell your stock get ample opportunity to get out and again same same thing I'm one of my largest holdings in my personal portfolio was Apple Apple's gotten clobbered, right? I mean we're trading in the hundred and thirties right now Like it every single stock of every single high-performing company has come down So I can't stand this like this narrative now that like things are getting affected I think Elon Musk probably has the biggest bandwidth of any single human being so I don't think for a second He's allowing Tesla to run to the ground or anything like that. No, and I just again I'll never understand it man. I'll never understand the hatred towards towards a guy who is Building, you know cars for sustainable energy and I mean with renewable energy Solar panels trying to get us to space and cares of free speech. I mean I I just don't understand it It drives me nuts again I don't think any single person on this planet is perfect and maybe you know He he is the richest guy in the world and so maybe he's done some shit for profit But you know what the end of the day? I don't see other people doing it So it's easy to throw stones right but it just drives me nuts man And just further drives aren't what we always talk about it with how people nowadays are just way too obsessed with like Everything that they can't control and like people they hate and all this shit. It just drives me crazy, you know Yeah, yeah, I also think Elon Musk definitely had a little bit to do with stock price coming down of Tesla, but You know That's that's just life like when you when you sign a deal And you use Tesla as like collateral as far like Tesla stock is tied to a couple different things too Number one, they bought a shit ton of Bitcoin I don't know if they still own that or not But you know for a while it was like big Bitcoin's going up So so so is Tesla and then now it's kind of tied to The overall market and as well, you know, Elon Musk is on the ask once in a while fucking absolutely hammering them So there's that which I mean like At the end of the day like when you own a stock and you own a lot of it You have the right to sell it off, you know, or you you know Despite you being in a company or not, it's not illegal to sell your stock And also, I'm sure he put Tesla running on autopilot, you know The top engineers the top people in America are working for that company right now There's no way that that's not on autopilot. So I think for me. I just you know, I really think that you know As far as the overall company goes like not the stock price. It's fine as far as the stock price goes though You know, it's still pretty high, you know, like I mean, yes It's trading at like a hundred or whatever dollars now, but it used to be I like a thousand, you know pre-split so This baby It's pretty high. Yeah. No, I don't know. I just Like I said, we could go on for hours kind of on the Elon Musk debate I just I think either you choose to believe in the man behind the machine or you don't you know And you know, you don't have people don't have to stay on Twitter. I'm so tired of seeing the tweets that are like I'm leaving Twitter. I'm leaving Twitter like you don't have to stay on Twitter You don't have to pay the eight dollars a month or whatever to be a verified user Like you don't have to do any of that, you know, but again, I do I choose to believe it I drive a Tesla. So I I'm the same way I like the guy and I think that sure maybe he's in a corner right now But I think I choose to believe he's gonna box his way out of it and I mean What did you think of the Twitter blue just real quick Like the verification thing. Yeah, you know, I like the concept. I mean personally I I did pay for it Whatever it is, it's like eight bucks a month or something I think it's a little it's a little funny because it kind of just like anyone who was verified before kind of just like Takes away from that and like I think that It's like it almost be like if you went on Instagram and just made everyone verified like It almost like ruins that that idea, but the same time I kind of like it It's because it's like we're getting rid of the bullshit, right? We're making sure that there's actual human beings behind the computer and not some bot I mean like Twitter got to the point where it it almost got obnoxious, dude I would I would put out a tweet and Just random people be like by this this crypto, you know, I'm so monkey coin And I'm like the fuck are we talking like what happened and I like what he's doing with that concept I think it's it's very green. I think it's very new and it has a lot that they have to do I think he's he's posing around ideas that only verified humans can actually place it votes Yeah So only people with Twitter blue can vote on the polls that he puts out like he is interesting because he puts Out polls and he actually abides by them like he'll say like should like he had the whole doxing Issue which is a whole nother thing that we skipped over but the doxing issue with the guy tracking his jet And he's like should I should I unsuspend this guy? They voted yes. He's like, okay. He's unsuspended like I I I like this concept. I like the ideas. I Do want to touch on that real quick the fact in my opinion the fact that people were upset that he Didn't like someone tracking his personal whereabouts where he has kids children all of that. I thought was ridiculous I think it's insane. I think that if I was stalking a celebrity like Justin Bieber about his whereabouts with his wife I think I would probably go to jail or be put on a watch list. So I think ridiculous. He's not the president He's not a world leader. You know, I just I think it was crazy. That drove me absolutely insane Yeah, no, and I think another thing that Elon actually put out over the weekend. I believe was he said should I step down from Twitter and And overwhelmingly people actually voted yes Which could have been a bot-driven vote that that is the one thing it's a little a little suspect and that's why I think the concept came out of Should only verified users be able to vote. Yeah, no Step down. He did say once he finds a credible see didn't know CEO in their right mind wants to take over Twitter right now Or wants to work at Twitter. They are they are a sinking ship is he says it They have not been making money for a long time They're under immense scrutiny and so is he who the fuck is gonna take that job. Yeah, no I'm just I'm just like looking at his way right now I just decided to like scroll through his feet because I'm like, okay Why not, you know, he's like should Congress approve the 1.7 trillion on a spending bill 71% vote no and then he says I'm in favor of small a small spending bill to keep things running But common sense suggests that it should be the least amount required through the holidays Yep, railroading through a giant spending bill like that That almost no one has read is unlikely to be in the best interest of the people which is very interesting A day ago, you know haven't read some of the details of the spending bill Read some of the key points on where the money's going and as as a country that I just came from I was just sending in New York City There's a country dealing with crazy homelessness State people purse savings of the middle-class dwindling credit card usage starting to pile up Delinquencies starting to pile up. We're sending more money to foreign countries. We're sending more money to other people And we're not helping ourselves. So the American people on Twitter spoke. They said we don't want this We don't want to keep spending money that truly we really don't have But like Elon said or like I forget who commented on it. I actually think it was a qtr there He's just like they're not no one's gonna listen anyways like the american this it's not really a democracy that way yeah, and like You know, we said should I step down instead of twitter? It was 57 to 43 votes Or 57 percent to 43 percent and final votes was 17 mil And then he said down below Our resign as ceo as soon as I find someone foolish enough to take the job After that I will just run software and server teams and it's interesting because mr. Beast also commented on that He's like if you keep doing stuff like this, yes And it was basically like the promotion of instagram the promotion of facebook The promotion of all those other social media platforms that they released over the weekend as well Those kind of terms of service and violations of the policy So to me it was quite interesting how You know different people all over have been kind of weighing in on this and saying well if you're gonna do stuff like this You know, you should step down and if you're gonna kind of uh, you know, keep tracking along on this kind of path You should do this or that So to me it's very interesting that you have someone like mr. Beast as well Weighing in on this, you know, who wasn't necessarily too too active on twitter before Elon Musk took over He now seems to kind of be trying to come up with ideas and stuff like that. So to me it's interesting Dude, I I feel like some people too and if you've never run a business big or small I don't think a lot of people have as much of an understanding Um, like I run a small business and do you know every single day every single day? Pretty much in the last 10 years that I've had it Someone gives someone's like, oh you guys should do this You should do this. This is what you should do. Okay It is really easy from the outside to say this is what you should do Yeah, but when you're the decision maker And you're looking at the realist the realist thickness or you know You're just trying to get sift through your own ideas in your own head. It's it's really hard It is really hard to do that. So elon musk a single man Entity person is taking the ideas and getting ideas By the droves millions of people are tweeting at him every day. Do this. Do this. Do this You know fucking hard that is like sick and you know what some ideas I have ideas all the time that I implement in my business and sometimes they flop Yeah, sometimes it's not a great idea Like I don't necessarily agree with his idea on the terms of usage and with the whole You can't promote your instagram or anything like that I mean, I don't have any reason to do that But I know businesses that operate there link trees all that I don't necessarily agree and you know what I think that idea will probably be backtracked or revised or edited But it is really hard every single day to make a decision and have them hit 100 of the time I've had a million ideas that have flopped and I'll have a million more So this this this attack on everything he says and tweets to me is Ridiculous again. It's a town square. It's where you give ideas and you talk about it But yeah, he's not gonna be perfect No, no, I completely agree um, maybe uh We can transition to kind of like the overall market and what's kind of been going on there because that has also been kind of a bigger story Yeah, um, we had spy try and break 400. Well, it did for a little bit um, and then You know, we've kind of pivoted back down. Uh, what do you think's gonna happen? I'll say what I think but Sure, um, I think we're gonna hit a lot lower. Um I mean, I again, we've I've said this in the past. I think some some stocks have bottomed Um, and I think that there's a few that will hold but I do think the at least spy and everything I I'm getting this this feeling. We're going lower um People keep saying and I have noticed in the past same thing right the vixx has really yet to spike I think that the vixx has yet spiked because nothing has happened that we're not understanding There's there's nothing that's gonna that we're we're not getting scared by anything Like the vixx usually spikes when something colossal happens Which we talked about in the last podcast when something finally breaks. I think we'll see the big spike um, you know, like a a crazy company like an enron or You know a crazy company going valley up or something like that. That's that's max fear and max pain Then we'll see it but until that I think we're gonna slow bleed and I think it's going to get worse into 23 when we really I mean, it's I think it's a foolish to admit that we're not in a deep recession and it's not going to continue I think when the numbers come out from the holidays on spending, I think they're going to be incredibly low. I think, um Revenues are going to miss. I think earnings are going to miss on a lot of the major companies Again, we've talked we have guys like Jeff Bezos saying don't buy a fucking tv right now Yeah, don't do this. Don't do that Elon Musk is tweeting, you know, if the if the federal reserve keeps raising rates We're going to go into a really harsh recession. If not worse a depression Um, so I I really think that's what's kind of down the pipe in the 23 Yeah, for me. I I also agree with you. I definitely see it going a lot lower Could you imagine though the company that goes valley up as tesla and twitter? I would delete everything. Oh my god, bro I just it's just funny. It's not out of this world. So alex and I were at a lunch on over on saturday We said that we're like, what if it's fucking elon musk that breaks like yeah, I would cry Did I would I would cry? Yeah, what if that's where that they try and squeeze them out and they try and fuck them and they they keep trying You know, um, also that was just something that came to my head because you were like one company that's going to break I'm like shit. We're doing an entire podcast on elon musk and tesla Delete this podcast if he goes bankrupt. Yeah, hopefully we don't speak it into existence Yeah, I think that for me I think the fed is going to keep going till they can't go anymore Like you say all the time. I think every podcast like Drone Powell does not want to be the fed who lost to inflation. So When ego gets in the way ahead of kind of facts and stuff like that the thing is is that Like if you want to raise rates, you should have done it in covet, you know Like just the way they went about things is completely wrong like If you're a fed and you're making policy Your policies are not going to come into effect right away Like you're not going to be able to see data from your policies coming in right away So, you know, you do something it's not going to be shown for three or four months You know, you're not going to see how good or how bad what you've done is for three to four months and in covet We had, you know record high inflation. We had housing prices through the roof We had all these things consumers spending way way way up like all those things Are not even close to what was being fed to us considering it was being fed to us that oh, we're in a depression I know times are tough. I know things are hard right now When that seems to me to be like a small minority of people like when I talk to people about covet The only people that were Really really struggling where people like you who are boxed out by these restrictions Like you couldn't cut hair like how the hell were you supposed to be able to manage and work and pay your rent and do Shit like that because you were boxed out by those restrictions So the only people who were really suffering were the people who the government chose to suffer, you know So I think that's one thing that's important because the majority of people like teachers could work for home Uh nurses definitely they have to go to the hospital, obviously But you know a firefighter like they're not doing things virtually, you know, they're going out and they're They're earning a living so there are a lot of people Who were still working like the world still ran it just either ran from home or You know, it it ran from people coming in or you weren't working at all because the government restricted you out You know, so I printed all this money drove inflation through the roof And you know, it's so funny because you look at the people in canada and the people in the united states and they're saying Oh, well, we're not going to raise rates till 2023. Well, they've already started, you know at the end of 2022 You know, I really do think that you know, it's probably orchestrated like there's no way that they don't know what they're doing They know exactly what they're doing And to me it's just uh, you know, I I just I just shake my head at it because it's like you guys look like idiots right now because You know to me what's done is done like Food prices will not even come close to coming down until the diesel price starts to come down You know because those trucks that we get our food on rely on diesel So if there's any hope in food prices coming down It's not going to be whether the fed raises rates or not or whether people can buy it It is going to be the simple fact that the world runs on diesel right now and right now the price of gas is coming down So yes, that helps, you know, overall people like you and me who drive cars But the price of diesel is still very sky high And last thing I checked our freaking food and our carrots and our whatever is not being delivered to us on a goddamn tesla It's being delivered to us on a diesel truck Yeah, so That's something to also look at as well And I also think they're just going to keep raising keep raising keep raising And the thing that breaks could be that people can't pay their mortgages anymore Like I got an offer I don't like I don't have a mortgage right now, but I got an offer and it came up on my phone and it said Hey, we're locking people in at you know a five percent rate in canada But like we're looking to lock you in at on a fixed rate five percent and we'll pay you a thousand dollars for it And so immediately people think when the bank pays you a thousand dollars. Oh, man, it's a scam Oh, man, it's a scam But then I was kind of doing some more digging at least here in canada The banks are hurting so bad right now that I think that if they raise rates too too much Because like the the level of debt in canada is insane just as it is in the states but you know America is kind of like land of the free like you can go out you can get a job Really, you can like if you work hard enough, you can really get a job like, you know, it's definitely easier than canada I'll say it's definitely easier than canada. You guys have more people more companies more things to do Um, canada is a little bit different where it's like it's not the most easiest because if you live in a small town Even for a burger king sometimes it's competitive. Although not right now Um, but yeah, I think I think that the bank in canada Is paying people that thousand dollars to lock it in Because they know that rates are gonna go way fucking higher. You know, I saw a bunch of people on tiktok come out and say Oh, they know that the rates are gonna go back down and they're trying to scan people and they have the best interest of the bank Sometimes the best interest of the bank is saying please lock in this goddamn rate because if the housing rates go higher You will not be able to like afford your mortgage like we're fucking bribing you so that you don't lose your house You dumbass In america, there's um, so there's the first time home buyers program here and and I've heard that there are some companies offering Um Seven-year arms. So like basically like if you're a first time home buyer, they'll lock you in at Like three and a half percent right now But on the flip side after seven years it can go up two percent a year For the amount of years or whatever it is But obviously at that point the the hope is that you'd refinance and blah blah blah And a lot of people say why the hell would they do that? Why the hell would they do that? And it's like just what you said they want to guarantee Cash flow and money coming in it's just the same reason why american express has like the highest cash balance They've ever had because they're they want to save against delinquencies. They need to protect themselves Everyone needs money the world operates on money So they have to protect themselves and in the last thing I want to say kind of on this whole subject is The federal reserve has a mandate on inflation. It's two, you know two percent and You know, I think it's I think it's fool's gold to think that we're going to get interest rates under five percent And hold them there for a long time. So I really think that we're just headed for I I don't want to say I think it's going to be like a stagflation Era and I think that's kind of what's coming for us Yeah, no, I definitely I definitely think so and you know, I think things are going to be sideways for a while and You know, that's just where we're going to be at. I think although I do think The sideways is coming You know, when I talk to normal people the thing is is that they're always saying to me Oh, well, it's going to go back up. Oh, well, it's going to go back up. My neighbor called me in october She said harry, what do you think the market's going to do because she knows like I trade and like she knows that like I Like do a full time. So she was saying what do you think the market's going to do and I was like to be honest I think he's going to go a little lower and she's like, well, shit. I can't retire then, you know, but it's like What what can you do? You know, like I think we're definitely going to go lower and Like normal people when I talk to them all the time Oh, it's going to go back up. Don't even worry. Don't even worry. Like people are not scared enough right now To like there's been no real like liquidation move, you know, we're still trading above like the covet kind of highs Like there's no really fear to kind of liquidate like in 2021 We got that big bounce a big part of it was number one the fed a big part of it was two a ton of people liquidated and uh, they were able to kind of run and Like right now Like during covet it was more so like oh, well, it has to crash. It has to crash has to crash when you get like longs Like who don't want to trade and you get shorts who are very very confident Those are always going to be the best long trades 100 all time because shorts are over confident They're willing to keep going and going going back to more now We're in a situation where the Fed is not on your side. We have longs who are complacent We have you know, honestly to me. It's like a long and short battle We have I've heard the bear case in the the bull case 100 times over from both sides both people So to me, you know, I I I personally think that we're definitely in for lower just the sheer fact of There's no one scared. Oh, it's gonna do this. Oh, it's gonna do. I don't know Yeah, you know like Yep, people people just think that it's going to go back up magically without You know any real Knowledge of of what's going on because they saw what happened in coven. They're like, oh, this is definitely gonna happen again COVID's over this that and the other thing so to me I think that we're in for a lot lower and I'd love to see it You know, I'd love to see I just love to see it because that's kind of what we need right now Agreed and I mean, I think we shouldn't wrap it up here But you know, we we really are we're we're in a crazy time And you know, we'll continue to kind of monitor and talk about it every week and same as always guys If there's any topics you'd love to hear about Please let us know in the comments and and yeah, please and thank you for listening. All right, perfect. Thanks guys