URGENT: Something Just Broke The Market (Everything Is Crashing)
Summary
Rebel Capitalist Live VII: Protect & Grow Your Wealth Before the Next Crisis https://rcl.georgegammon.com/live Want the cheat …
Transcript
Hello fellow robo capitalists. Hope you're well. So I was just watching the screen and I noticed everything is crashing. [laughter] I mean tech is crashing, gold is crashing, Bitcoin is crashing and I thought what the heck is going on? So I know Zero just had an article but they don't have any conclusions. I don't know if it was Microsoft earnings. I don't know what is happening, but I wanted to do a live stream and kind of walk through this with you guys in real time. I don't know, maybe we can figure this out right now. So, let's go over to CNBC and you guys will see exactly what I'm referring to. Actually, let's look at some charts here. PSLV will use that as a proxy for silver down. Let me do a daily chart here. Look at this. It's like all of a sudden you just hit a cliff. Just a wy coyote moment to the point where I mean it's all over the place. But right now it's down 7% on the day. Look at this jump around now. 7.32%. I mean, holy cow. This is some serious volatility. And let's go over to the GDXJ that's just getting smoked as well down. So, I'm all over the place, but right around the same, you know, call it 7% or so. But even gold is down big. I mean, taking it on the chin, Microsoft sinks 11%. 11% from Microsoft in one day is huge. Wow. And check this out. Let's go over to gold. Hanging pretty tough. hanging pretty tough. But look at the intraday highs. That's what we got to focus on. Look at this chart. It was up right over 5,500. Now, I'll have to pat myself on the back because if you guys have been watching my videos consistently lately, I said if we had a close over 5,000 that I think it's going straight to 5,500. But now it looks like it might be going straight back to 5,000. [laughter] I mean, look, look at this chart. I What the hell happened at 10:00 a.m. Eastern something? I mean, I don't know if it was just I know Microsoft, that's why it's down huge. It uh posted, I believe, poor earnings. I mean, again, I'm just spitballing here. I'm just thinking this true, trying to figure it out in real time with you guys along for the ride. But something huge is happening. And maybe it was just everyone was leveraged long everything because you know, silver, gold, it's all going to the moon, the S&P 500, the Mag 7, AI, you name it. And all of a sudden, you just had one little straw that broke the camel's back. Maybe Microsoft. And it's just everyone is deleveraging. By the way, talk about deleveraging. Let's look at Bitcoin. Look at this. Down 5.35%. But if you think that's bad, look at Micro Strategy. Micro Strategy. I mean, I know we were talking about this like three months ago. And full disclosure, I made quite a bit of money on the short side of Micro Strategy. I had a pairs trade on with uh long Bitcoin, short Micro Strategy. So, I was pocketing the spread. And that was the gift that kept on giving. I was making like 1% a day on that. is absolutely insane. If you want more insider intel like that, you can check out Rebel Capitals Pro is where I talk about this stuff daily and I go over to my trade alerts and there Chris Macintosh, Brent Johnson, Patrick Sesna, etc. Josh, go ahead and put a link in the description and in the chat. But uh let's look at a chart here. Trading View, we're going to do micro or I guess it's called strategy now. It's ridiculous. They've got a great strategy on how to lose money. That's for sure. Or how to get your share price to plummet in the last year. Although to be fair, you look at a chart of the last five years, it's up like a,000%. Look at almost down 10% on the day. Whoa. Whoa. Whoa. Whoa. I mean, look at a I mean, look at a six-month chart. I mean, there's Well, let's I said five years it's up a,000%. I guess not. It's only up 135%. Which is good. But, I mean, look at this. It went from 434 like six months ago and now it's 143. And I mean your next support is here at 114 128 in this zone. I I mean I I haven't done a lot of math on this, but at a certain point you you you've got to ask, okay, when is he in trouble? I'm talking about Sailor. Obviously, he can't issue any more equity. He's going to have to do these preferreds or, you know, some sort of financial engineering. He can't just issue shares because that's going to tank it even further. And I don't know what his uh discount to NAV is right now, but it's got to be substantial. Wow. Down 10% on the day and it doesn't look like it's rebounding. I mean, like I said, everything is tanking. Everything. Let's go over to CNBC and see if we can see some head. Actually, Zero Hedge had this, which is a good title. >> [laughter] >> Techrex at the start at the open started it. Okay, so they're blaming this catalyst on uh probably Microsoft. Keep an eye on the mega tech cap names today. I mean, look at this chart. Okay, but but something happened right around 10:00. US equities puked as the cash market opened. Yeah. And and another reason why I'm I'm really I don't know if concerned is the right word, but this is something I I'm really paying attention to is look at the dollar. You see, dollar does the same thing right at 10:00. It just boom straight up. And I I'll bet you I didn't look at it, but I'll bet the 10-year Treasury did the same thing. Well, the opposite. You know, yields going down. So right here 9:45 it starts going and then 10 o'clock boom straight down. Yeah. See some something happened in addition. If Micros I I wonder when Microsoft announced but let's keep reading here. Um NASDAQ erasing overnight gains rapidly. You can say that again. As losses in Microsoft accelerated, crypto followed with Bitcoin crashing to its lowest levels since December 18. That 85, but I mean, you know, this was a half hour ago. Now it's 84. So, it's down called another thousand bucks, maybe. say 200 million in levered crypto longs liquidated in the past 30 minutes there's the chart of gold but it's I mean when we checked in just 2 minutes ago gold was getting down to 5100 and see it happened right at 10:00 well I don't know what time zone they're on here but it was 10 o'clock Eastern and that's all they have and for now we see no headline driven catalyst for this break and zero hedge like obviously they monitor everything so they're seeing they're saying they don't even see a catalyst I mean something had to happen let's go back to CNBC and see if we can refresh and get okay Microsoft yeah we know that right now everyone in the comments is saying to look at the chart of gold and silver because it's absolutely dumping as you speak. >> Okay, so we've got gold at 52. I mean, silver, let's look at that. Yeah, I mean that that's what I looked at right at the beginning of the video. I'll just keep going back and forth here till we figure this out. I mean, look at this. It was up over 120 and right there you go. Right. Just before, you know, it starts at 9:30, then at 10:00 is when it really just hits the wy coyote moment to where now it's down. I mean, it's almost I don't know what this is talking this I think they're doing in 24 hours. Let's go back to PSL V because that's going to be based on the open the normal open and close of markets. Let me refresh here. Yeah. I mean, here you go. 10 o'clock. Just right off a cliff. Let's look at the juniors again. About the same as silver. And I believe as of today, yeah, this is real time. So I I mean I'm just I'm at a loss. something. Let's look at oil. Oil prices rise. See if they actually What happened at 10:00 with oil dumps at 10:00. So if it was something in the Middle East, o you would get a big you oil wouldn't dump. I mean I don't know Josh, what do you think? Literally everything is crashing. I mean I'm assuming it's just kind of a flash crash deal and people will just start buying the dip or the alos will buy the dip and by the close of the day we'll probably be back to you close to where we were. But this is really bizarre. And look at S&P doing the same thing. Let's look at daily on the S&P. [laughter] Well, that's not good. I still got my taco trade on as well. Fortunately, a long TLT might offset this. And act, you know, the only thing that's not tanking, thank goodness, and again, this is uh an advantage being a Rebel Capitals Pro member because you get my trade alerts. And believe it or not, they're pretty good. I'll bet my batting average is it's it's been very very good the last year or so. I I'll bet I'm batting 75%. But anyway, one thing that I bought the other day that I told members was SR UF. I actually bought it a couple times. No, that's tanking. It was up. It was way up on the day. So, there you go, George. You got to [laughter] That'll teach you to pat yourself on the back before you check the price. Fortunately, my price my co on my uh my cost basis on this is what? 21.90. So, okay. Still up here. But I thought this was up on the day and sure enough it's following suit right there at 10:00 right around 10:00. I mean something there there had to be some news event that CNBC doesn't even know about yet. Josh, are you seeing anything else? I have not seen anything in the news. >> I mean, I keep refreshing. Let's go back to Zero Hedge and refresh and see if they've got something new. No. Huh. Wow. Well, let's go back to precious metals here. My goodness. Gold. I mean, it was over 5,500 like an hour ago. Look, gold nears 5600. They can't even keep track. It's happening so fast. I'm talking about the CNBC headlines. Look at this. Gold nears 5600. Really? [laughter] No, it's it's nearing 5,000. And look, silver blazes past 120. Might want to update this CNBC because now it's blazing down to 108. Copper is still up on the day. Well, I don't know, Josh. Let's hang out for another five minutes or so, and I'll keep trying to refresh, but I I'm I'm lost. Like I I wish I could sit there and tell you guys exactly what's happening, but um I mean I'm not going to make something up. [laughter] That's just to rationalize while we're seeing this. I mean we did have the Microsoft earnings disappoint. So I guess that you know AI everything's coming out of the AI bubble that at the end of the day that is the S&P 500 is uh you know because the mag 7 makes up most of the S&P 500. So, if we're starting to see the error come out of the AI bubble, that could could really trigger a sell-off and everything. That would make sense. But it it doesn't make sense why it happened all at 10:00 because I believe Microsoft reported before the opening bell. Let let me actually that's let me research that here. Okay. So Microsoft drop and Xbox content harvest Microsoft shares crash. But see that was at the US open or the open of the the US mark markets excuse me. You know the markets open at 9:30. So again, it doesn't explain this this huge move down at 10. And and I don't know that that Microsoft I mean I I get it that if the air is coming out of the AI bubble that's going to really have an impact on risk assets. I can see that really playing into Bitcoin risk assets. I can see that playing into Micro Strategy. I can see that playing into silver. But gold, I I don't really see that. And then the dollar, why why would that move the dollar so much? H Let's go back to zero hedge and refresh. I maybe it's just an unexplicable ALGO flash crash. I mean, I'm sure as the day goes on, there's going to be news that rises to the surface that explains this. Looks like Bitcoin's kind of coming back up a little bit. Yeah, I barely [laughter] I guess if you want to call that coming back up. Uh maybe that's a little optimistic. I mean, usually when you get these big huge crashes like this and you get a pullback or just it's like a deadcat bounce and it's like people taking profits, shorts taking profits, whatever. And usually it gets back up to here or so, then comes back down again. if I was day trading, which I don't. That's that's kind of what I'd what I'd expect to see. Let's go back to micro strategy. That was insane. Yeah, the little bits. I mean, it's kind of following Bitcoin where you get a little bit of a deadcat bounce, but yikes. You're still I mean, you're down $15 on the day. Geez. Let's go back to yields. Yeah. So, those are going back to where they were. Let's see the S&P 500 if that's going back to where it was. No, no. Yeah. In fact, it just turned down again. So, gold now 5156, silver 108. Let's refresh to see any news. I don't see anything. Yeah. Well, stay tuned, guys. Something big happened. Something big. And it's going to be really interesting to see if we get a rebound to where this is like a flash crash and we're right back to where we started at the end of the day today at the close or if it continues to go down. Maybe this wasn't a flash crash and maybe it's the air finally coming out of the AI bubble and everything was was tied to that. It's like an inverted pyramid, right? where everything is just sitting on the Mag 7 and the Mag 7 is sitting on the AI narrative and once you take that that Jenga puzzle piece, you [laughter] know, out of the game or once you pull out that Jenga puzzle piece, just everything crashes down because obviously, you know, there was a component of risktaking in the price of gold and the price of silver and and obviously the price of crypto and everything else. Uh maybe even the price of oil. Um I don't know. I don't know. That's all I got right now. We're gonna have to see how this plays out. Definitely going to be an exciting day with some tremendous volatility. So, I will do another video at the end of the day to try to wrap things up and just figure out what on earth just happened. Uh, if you guys want more insider intel and access to my real time trade alerts along with model portfolios from Lyn Alden and Chris Macintosh, we got Brent Johnson in there, Patrick Serzna. Uh, you can check out Rebel Capitalist Pro and I think Josh already put a link in the chat and in the description. Okay guys, on that bombshell, enjoy the rest of your afternoon. We'll probably see you back here in a couple hours. Make sure you're standing up for freedom, liberty, free market, capitalism, capitalism. And we'll see you on the next video.
URGENT: Something Just Broke The Market (Everything Is Crashing)
Summary
Rebel Capitalist Live VII: Protect & Grow Your Wealth Before the Next Crisis https://rcl.georgegammon.com/live Want the cheat …Transcript
Hello fellow robo capitalists. Hope you're well. So I was just watching the screen and I noticed everything is crashing. [laughter] I mean tech is crashing, gold is crashing, Bitcoin is crashing and I thought what the heck is going on? So I know Zero just had an article but they don't have any conclusions. I don't know if it was Microsoft earnings. I don't know what is happening, but I wanted to do a live stream and kind of walk through this with you guys in real time. I don't know, maybe we can figure this out right now. So, let's go over to CNBC and you guys will see exactly what I'm referring to. Actually, let's look at some charts here. PSLV will use that as a proxy for silver down. Let me do a daily chart here. Look at this. It's like all of a sudden you just hit a cliff. Just a wy coyote moment to the point where I mean it's all over the place. But right now it's down 7% on the day. Look at this jump around now. 7.32%. I mean, holy cow. This is some serious volatility. And let's go over to the GDXJ that's just getting smoked as well down. So, I'm all over the place, but right around the same, you know, call it 7% or so. But even gold is down big. I mean, taking it on the chin, Microsoft sinks 11%. 11% from Microsoft in one day is huge. Wow. And check this out. Let's go over to gold. Hanging pretty tough. hanging pretty tough. But look at the intraday highs. That's what we got to focus on. Look at this chart. It was up right over 5,500. Now, I'll have to pat myself on the back because if you guys have been watching my videos consistently lately, I said if we had a close over 5,000 that I think it's going straight to 5,500. But now it looks like it might be going straight back to 5,000. [laughter] I mean, look, look at this chart. I What the hell happened at 10:00 a.m. Eastern something? I mean, I don't know if it was just I know Microsoft, that's why it's down huge. It uh posted, I believe, poor earnings. I mean, again, I'm just spitballing here. I'm just thinking this true, trying to figure it out in real time with you guys along for the ride. But something huge is happening. And maybe it was just everyone was leveraged long everything because you know, silver, gold, it's all going to the moon, the S&P 500, the Mag 7, AI, you name it. And all of a sudden, you just had one little straw that broke the camel's back. Maybe Microsoft. And it's just everyone is deleveraging. By the way, talk about deleveraging. Let's look at Bitcoin. Look at this. Down 5.35%. But if you think that's bad, look at Micro Strategy. Micro Strategy. I mean, I know we were talking about this like three months ago. And full disclosure, I made quite a bit of money on the short side of Micro Strategy. I had a pairs trade on with uh long Bitcoin, short Micro Strategy. So, I was pocketing the spread. And that was the gift that kept on giving. I was making like 1% a day on that. is absolutely insane. If you want more insider intel like that, you can check out Rebel Capitals Pro is where I talk about this stuff daily and I go over to my trade alerts and there Chris Macintosh, Brent Johnson, Patrick Sesna, etc. Josh, go ahead and put a link in the description and in the chat. But uh let's look at a chart here. Trading View, we're going to do micro or I guess it's called strategy now. It's ridiculous. They've got a great strategy on how to lose money. That's for sure. Or how to get your share price to plummet in the last year. Although to be fair, you look at a chart of the last five years, it's up like a,000%. Look at almost down 10% on the day. Whoa. Whoa. Whoa. Whoa. I mean, look at a I mean, look at a six-month chart. I mean, there's Well, let's I said five years it's up a,000%. I guess not. It's only up 135%. Which is good. But, I mean, look at this. It went from 434 like six months ago and now it's 143. And I mean your next support is here at 114 128 in this zone. I I mean I I haven't done a lot of math on this, but at a certain point you you you've got to ask, okay, when is he in trouble? I'm talking about Sailor. Obviously, he can't issue any more equity. He's going to have to do these preferreds or, you know, some sort of financial engineering. He can't just issue shares because that's going to tank it even further. And I don't know what his uh discount to NAV is right now, but it's got to be substantial. Wow. Down 10% on the day and it doesn't look like it's rebounding. I mean, like I said, everything is tanking. Everything. Let's go over to CNBC and see if we can see some head. Actually, Zero Hedge had this, which is a good title. >> [laughter] >> Techrex at the start at the open started it. Okay, so they're blaming this catalyst on uh probably Microsoft. Keep an eye on the mega tech cap names today. I mean, look at this chart. Okay, but but something happened right around 10:00. US equities puked as the cash market opened. Yeah. And and another reason why I'm I'm really I don't know if concerned is the right word, but this is something I I'm really paying attention to is look at the dollar. You see, dollar does the same thing right at 10:00. It just boom straight up. And I I'll bet you I didn't look at it, but I'll bet the 10-year Treasury did the same thing. Well, the opposite. You know, yields going down. So right here 9:45 it starts going and then 10 o'clock boom straight down. Yeah. See some something happened in addition. If Micros I I wonder when Microsoft announced but let's keep reading here. Um NASDAQ erasing overnight gains rapidly. You can say that again. As losses in Microsoft accelerated, crypto followed with Bitcoin crashing to its lowest levels since December 18. That 85, but I mean, you know, this was a half hour ago. Now it's 84. So, it's down called another thousand bucks, maybe. say 200 million in levered crypto longs liquidated in the past 30 minutes there's the chart of gold but it's I mean when we checked in just 2 minutes ago gold was getting down to 5100 and see it happened right at 10:00 well I don't know what time zone they're on here but it was 10 o'clock Eastern and that's all they have and for now we see no headline driven catalyst for this break and zero hedge like obviously they monitor everything so they're seeing they're saying they don't even see a catalyst I mean something had to happen let's go back to CNBC and see if we can refresh and get okay Microsoft yeah we know that right now everyone in the comments is saying to look at the chart of gold and silver because it's absolutely dumping as you speak. >> Okay, so we've got gold at 52. I mean, silver, let's look at that. Yeah, I mean that that's what I looked at right at the beginning of the video. I'll just keep going back and forth here till we figure this out. I mean, look at this. It was up over 120 and right there you go. Right. Just before, you know, it starts at 9:30, then at 10:00 is when it really just hits the wy coyote moment to where now it's down. I mean, it's almost I don't know what this is talking this I think they're doing in 24 hours. Let's go back to PSL V because that's going to be based on the open the normal open and close of markets. Let me refresh here. Yeah. I mean, here you go. 10 o'clock. Just right off a cliff. Let's look at the juniors again. About the same as silver. And I believe as of today, yeah, this is real time. So I I mean I'm just I'm at a loss. something. Let's look at oil. Oil prices rise. See if they actually What happened at 10:00 with oil dumps at 10:00. So if it was something in the Middle East, o you would get a big you oil wouldn't dump. I mean I don't know Josh, what do you think? Literally everything is crashing. I mean I'm assuming it's just kind of a flash crash deal and people will just start buying the dip or the alos will buy the dip and by the close of the day we'll probably be back to you close to where we were. But this is really bizarre. And look at S&P doing the same thing. Let's look at daily on the S&P. [laughter] Well, that's not good. I still got my taco trade on as well. Fortunately, a long TLT might offset this. And act, you know, the only thing that's not tanking, thank goodness, and again, this is uh an advantage being a Rebel Capitals Pro member because you get my trade alerts. And believe it or not, they're pretty good. I'll bet my batting average is it's it's been very very good the last year or so. I I'll bet I'm batting 75%. But anyway, one thing that I bought the other day that I told members was SR UF. I actually bought it a couple times. No, that's tanking. It was up. It was way up on the day. So, there you go, George. You got to [laughter] That'll teach you to pat yourself on the back before you check the price. Fortunately, my price my co on my uh my cost basis on this is what? 21.90. So, okay. Still up here. But I thought this was up on the day and sure enough it's following suit right there at 10:00 right around 10:00. I mean something there there had to be some news event that CNBC doesn't even know about yet. Josh, are you seeing anything else? I have not seen anything in the news. >> I mean, I keep refreshing. Let's go back to Zero Hedge and refresh and see if they've got something new. No. Huh. Wow. Well, let's go back to precious metals here. My goodness. Gold. I mean, it was over 5,500 like an hour ago. Look, gold nears 5600. They can't even keep track. It's happening so fast. I'm talking about the CNBC headlines. Look at this. Gold nears 5600. Really? [laughter] No, it's it's nearing 5,000. And look, silver blazes past 120. Might want to update this CNBC because now it's blazing down to 108. Copper is still up on the day. Well, I don't know, Josh. Let's hang out for another five minutes or so, and I'll keep trying to refresh, but I I'm I'm lost. Like I I wish I could sit there and tell you guys exactly what's happening, but um I mean I'm not going to make something up. [laughter] That's just to rationalize while we're seeing this. I mean we did have the Microsoft earnings disappoint. So I guess that you know AI everything's coming out of the AI bubble that at the end of the day that is the S&P 500 is uh you know because the mag 7 makes up most of the S&P 500. So, if we're starting to see the error come out of the AI bubble, that could could really trigger a sell-off and everything. That would make sense. But it it doesn't make sense why it happened all at 10:00 because I believe Microsoft reported before the opening bell. Let let me actually that's let me research that here. Okay. So Microsoft drop and Xbox content harvest Microsoft shares crash. But see that was at the US open or the open of the the US mark markets excuse me. You know the markets open at 9:30. So again, it doesn't explain this this huge move down at 10. And and I don't know that that Microsoft I mean I I get it that if the air is coming out of the AI bubble that's going to really have an impact on risk assets. I can see that really playing into Bitcoin risk assets. I can see that playing into Micro Strategy. I can see that playing into silver. But gold, I I don't really see that. And then the dollar, why why would that move the dollar so much? H Let's go back to zero hedge and refresh. I maybe it's just an unexplicable ALGO flash crash. I mean, I'm sure as the day goes on, there's going to be news that rises to the surface that explains this. Looks like Bitcoin's kind of coming back up a little bit. Yeah, I barely [laughter] I guess if you want to call that coming back up. Uh maybe that's a little optimistic. I mean, usually when you get these big huge crashes like this and you get a pullback or just it's like a deadcat bounce and it's like people taking profits, shorts taking profits, whatever. And usually it gets back up to here or so, then comes back down again. if I was day trading, which I don't. That's that's kind of what I'd what I'd expect to see. Let's go back to micro strategy. That was insane. Yeah, the little bits. I mean, it's kind of following Bitcoin where you get a little bit of a deadcat bounce, but yikes. You're still I mean, you're down $15 on the day. Geez. Let's go back to yields. Yeah. So, those are going back to where they were. Let's see the S&P 500 if that's going back to where it was. No, no. Yeah. In fact, it just turned down again. So, gold now 5156, silver 108. Let's refresh to see any news. I don't see anything. Yeah. Well, stay tuned, guys. Something big happened. Something big. And it's going to be really interesting to see if we get a rebound to where this is like a flash crash and we're right back to where we started at the end of the day today at the close or if it continues to go down. Maybe this wasn't a flash crash and maybe it's the air finally coming out of the AI bubble and everything was was tied to that. It's like an inverted pyramid, right? where everything is just sitting on the Mag 7 and the Mag 7 is sitting on the AI narrative and once you take that that Jenga puzzle piece, you [laughter] know, out of the game or once you pull out that Jenga puzzle piece, just everything crashes down because obviously, you know, there was a component of risktaking in the price of gold and the price of silver and and obviously the price of crypto and everything else. Uh maybe even the price of oil. Um I don't know. I don't know. That's all I got right now. We're gonna have to see how this plays out. Definitely going to be an exciting day with some tremendous volatility. So, I will do another video at the end of the day to try to wrap things up and just figure out what on earth just happened. Uh, if you guys want more insider intel and access to my real time trade alerts along with model portfolios from Lyn Alden and Chris Macintosh, we got Brent Johnson in there, Patrick Serzna. Uh, you can check out Rebel Capitalist Pro and I think Josh already put a link in the chat and in the description. Okay guys, on that bombshell, enjoy the rest of your afternoon. We'll probably see you back here in a couple hours. Make sure you're standing up for freedom, liberty, free market, capitalism, capitalism. And we'll see you on the next video.