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Speaker 1: Yeah, to talk about.

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Speaker 2: Coinbase and what that represents as far as short term trades,

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Speaker 2: because short term trades. I got burnt a few times

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Speaker 2: with short term trades, and the thing with short term

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Speaker 2: trads is that sometimes factors could work against you that

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Speaker 2: you don't have control over, and you got to be

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Speaker 2: extremely careful. And that's a good example, I think this

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Speaker 2: coin Base situation. So you want to talk.

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Speaker 3: About that, yeah, man, you talk about all of the

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Speaker 3: signs pointing to a negative earnings report, right, Like, if

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Speaker 3: we look at the space that Coinbase is in, obviously

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Speaker 3: cryptocurrency is huge for their bottom line. We looked at

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Speaker 3: how bitcoins predominantly has performed over the past six months

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Speaker 3: or even in the last quarter. We talk about the

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Speaker 3: downtrend of bitcoin and how long that usually lasts. Usually

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Speaker 3: down these downward cycles last anywhere between one hundred and

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Speaker 3: fifty to three hundred and sixty days. On the shortest term,

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Speaker 3: it's been like one hundred and forty one. We are currently.

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Speaker 3: That was Thursday, so we're currently in like day one

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Speaker 3: thirty six or something like that, so we're still in

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Speaker 3: that short term phase. You look at that, you look

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Speaker 3: how robin Hood reported and they pulled back on their

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Speaker 3: earnings obviously because of the downturn in their revenue from

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Speaker 3: crypto currency, bitcoin being the leader. You see how much

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Speaker 3: the revenue comes from Bitcoin, I think was like at

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Speaker 3: twenty percent, And so you started asking yourself, at least

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Speaker 3: I was asking myself, like, okay, well, if we see

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Speaker 3: all those metrics on a downward trend, then coin base

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Speaker 3: obviously must also be in this because it's in the

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Speaker 3: same sector. You go a little deeper into the research,

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Speaker 3: you find that, you know, fifty percent of Coinbasi's revenue

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Speaker 3: comes from crypto currency. It doesn't say specifically, there's no

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Speaker 3: details on it, but the estimated what people perceive. You

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Speaker 3: can see the correlation, the correlation, right, I think there's

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Speaker 3: thirty four percent of that cryptocurrency revenue comes from bitcoin alone. Again,

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Speaker 3: if it's in the downwards cycle, you can see how

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Speaker 3: revenue is going to miss. And so I said, okay, well,

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Speaker 3: I hate puts number one. I hate puts, hate them,

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Speaker 3: don't do them rarely. I said, this might be an

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Speaker 3: opportunity here, let's just let's put a put on this.

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Speaker 3: And it was like right at the money and at

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Speaker 3: like four o'clock that happens, and oh, we're looking great.

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Speaker 3: All day, were looking great, and then like at four o'clock,

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Speaker 3: we're looking even better. It gets down to one thirty four.

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Speaker 3: I'm like, perfect, we've dropped fourteen dollars. And I'm watching

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Speaker 3: this thing and I'm watching it, and then I watch

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Speaker 3: it go up. I'm like, hold on, let me read

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Speaker 3: the report. Missed on earnings, missed revenue. Future guidance is weak.

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Speaker 4: Yeah, future is terrible.

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Speaker 1: Bride Armstrung.

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Speaker 4: I said, a fucking word.

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Speaker 3: Everything you could think of it in the favor of

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Speaker 3: this should be a pullback, right. I watched it go

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Speaker 3: to one forty eight. I said, oh damn. After hours,

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Speaker 3: we can't control let I noticed some platforms that allow

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Speaker 3: you to trade equities twenty four to seven, but in

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Speaker 3: the options you can't do anything.

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Speaker 1: Right after four o'clock you're done.

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Speaker 3: You can't do anything again until nine thirty with the

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Speaker 3: market open and watching it, watching it for an hour,

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Speaker 3: it goes from up to one fifty four. I'm like, yo,

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Speaker 3: what this is. Then I start thinking, like, the market

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Speaker 3: will all ways punish you for doing short term This

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Speaker 3: is why I hate doing puts. Yeah, wake up in

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Speaker 3: the morning. It's at one fifty four. I said, oh

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Speaker 3: my gosh, this is ridiculous. Coin Base ends up closing

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Speaker 3: at one sixty four like the put was at one

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Speaker 3: forty eight. So obviously we lose on the put in.

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Speaker 3: Just for full transparency, when we do puts, we're not

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Speaker 3: looking at them as leaps, right, that's too much time,

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Speaker 3: and so if we do a put, it's usually going

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Speaker 3: to be a week, two weeks, three weeks out, so

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Speaker 3: we can get to that price. It shout up to

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Speaker 3: one sixty four on Friday. Obviously the market wasn't open today.

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Speaker 3: It'll probably stay in that range. And so I'm trying

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Speaker 3: to figure out why, what, who's holding this company up?

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Speaker 3: And the only thing I could find and hopefully maybe

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Speaker 3: somebody can add some some texture around the conversation is

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Speaker 3: they said that it had hit a bottom and retail

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Speaker 3: investors are saying, let's buy the dip, and I said, nah, man,

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Speaker 3: no way, no way, no way.

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Speaker 1: And so it wasn't.

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Speaker 4: Retailer let the charge, but kudos to the institutional buyers.

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Speaker 1: I'll see you.

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Speaker 3: And sometimes we talk about being a short seller. In

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Speaker 3: that situation, the short seller got squeezed. That would be

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Speaker 3: a short seller getting squeezed right, Like when everything is

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Speaker 3: pointing to the downward trend, you're saying, yes, here comes

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Speaker 3: downward trend. Okay, here comes market. Squeeze you out your position.

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Speaker 3: Take the little credity. It stays afloat, Now, how long

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Speaker 3: will it stay at one sixty? Let's say it stays

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Speaker 3: up there for four weeks and drops back down on

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Speaker 3: one thirty. At some point, all those people who are

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Speaker 3: inside of those those short term calls or puts all

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Speaker 3: get squeezed. Liquidity is taken by the brokers, and we

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Speaker 3: get stuck looking like, oh my gosh, why do we

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Speaker 3: do this in the first place. So just be careful

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Speaker 3: when you're doing puts. This is a valuable lesson that

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Speaker 3: can be learned a.

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Speaker 4: Post a two week timeframe, what time frame would be

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Speaker 4: beneficial for them to hold the put where it could

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Speaker 4: pay out in their favorite like going forward if there

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Speaker 4: was in the same scenario, but you got a month

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Speaker 4: or hold on how much longer?

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Speaker 3: I think a month? I think it's months to five

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Speaker 3: month and a half at the max.

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Speaker 1: I don't.

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Speaker 3: I've done probably like five puts in like maybe at

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Speaker 3: the most, I could probably maybe ten at the most

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Speaker 3: in like seven years. Right, this is something I rarely do.

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Speaker 3: But the opportunity was pointing in that direction. It didn't

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Speaker 3: work in that favor, and so we'll see what happens

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Speaker 3: with it. But again, sometimes the momentum. Sometimes earnings could

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Speaker 3: be terrible and you can see we'll see a crazy

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Speaker 3: bounce up twenty dollars and earnings can be great and

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Speaker 3: a stock will be flat or actually pull back.

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Speaker 1: Right, we just saw that happen with Google.

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Speaker 3: Right, We'll still see it happen with Google, and we'll

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Speaker 3: talk about them a little bit later. But like, these

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Speaker 3: are the things, and that's why when we say, like, hey,

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Speaker 3: catalyst events are important, they're good to have as information.

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Speaker 3: They all always aren't created the same, and momentum might

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Speaker 3: not move in your favor just because something was great

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Speaker 3: because there's information that we don't know.

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Speaker 1: But shout out to Ryan Strong and the whole family.

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Speaker 4: And the same thing that happened in features like that,

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Speaker 4: the futures market may drop and then you will see

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Speaker 4: your dead cat bounce and then it hit your stop

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Speaker 4: and then go back to that direction.

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Speaker 1: That's why you have to go back and test.

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Speaker 4: It's a great thing to do in Claude to find

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Speaker 4: out what the average true range is to see where

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Speaker 4: to put your stop so they won't get whipped out.

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Speaker 4: So yeah, but be mindful, especially in this market, regardless

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Speaker 4: of the direction that you're going, that you have enough

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Speaker 4: time in your favorite and your stop loss is not

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Speaker 4: too tight for the asset that you're trading.

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Speaker 3: Yeah, and it got double downgraded. Think about that, right.

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Speaker 3: So when we talk about grading, and that's based on

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Speaker 3: how analysts from large institutional firms feel about a company,

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Speaker 3: there's usually like outperform, perform, hold, sell, strong sell. It

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Speaker 3: got double downgraded to sell like on the day of

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Speaker 3: its earning. So I mean, if you look at the report,

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Speaker 3: I mean everything pretty much was negative and we saw

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Speaker 3: a bounce.

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Speaker 2: Go figure out, Yeah, go figure Okay, so blackout at

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Speaker 2: nine o'clock you used to stand the time on Wednesday,

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Speaker 2: make sure you tap in and then earn your leisure

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Speaker 2: at twelve pm Eastern Standard time on Thursday, we got

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Speaker 2: Mark Barnes. So Mark Barnes, if you've ever been to

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Speaker 2: DC speaking to DC Park on fourteenth, you know he's

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Speaker 2: the one that actually had club Dream Club Love legendary

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Speaker 2: by all accounts, the number one club owner in America

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Speaker 2: when it comes to his thirty year run. If you've

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Speaker 2: ever been to d C, I'm pretty sure you know

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Speaker 2: about Park, Dream and Love and if you don't.

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Speaker 1: Then you out the loop.

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Speaker 3: Yeah, but.

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Speaker 2: We interviewed him at the park and yeah, he had

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Speaker 2: some interesting things. Interesting things, sure, man, interesting things. A

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Speaker 2: lot of gyms though, a lot of gyms, but very entertaining,

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Speaker 2: I'll say that much.

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Speaker 1: It gives very I'm free