Transcript
Use with ChatGPT / Claude Auto-scroll A
The video opens with Jensen Wong's sudden resignation and the fallout from the reported affairs scandal. It covers Nvidia's plunge, analyst downgrades, and reactions from Trump and Elon Musk.
Jensen Wong is out effective immediately.He has resigned as CEO and president of Nvidia after it was reported that he had three affairs.As the rumors of him resigning were coming out last night, Elon Musk said it'd be an honor to hire Jensen Wong.Today, Trump has directed JD Vance to crack down on corruption in Democratic cities alongside saying the days of an Iran deal have long since passed.And the housing market is now showing something we haven't seen since the Great Recession.Today, we cover why stocks are going crazy, what to watch out for, and where the action is right now.
Today, stocks briefly sold off as the market reacted to Jensen Wong resigning from his role as the CEO of Nvidia.Off that news, Nvidia plunged over 14% at lows, pulling the company's market cap below $4 trillion for the first time since July 2025.Since the scandal began, Nvidia has erased roughly $750 billion in market cap.Nvidia's CFO Colette Crest has been appointed interim CEO, while Wong will no longer hold any role at the company, ending his 33-year tenure at the business he co-founded.And somehow, it just keeps getting worse.Today, Reuters reported that Wong allegedly had another affair with a company employee.So far, the woman has not been named, and this now marks the third affair reported in only five days.Following this insane news, Wong has now agreed to testify before Congress sometime before Thanksgiving with Senator Elizabeth Warren saying his resignation does not absolve him.
Several major banks have also sharply cut their Nvidia price targets after seeing this recent sell-off.Bernstein slashed its price target by an insane 50% from $400 down to $200, while BFA lowered its target from $350 down to $ 280.Trump and Elon Musk responded to Wong's resignation as well with Trump saying now that Nvidia CEO Jensen Wong has resigned, there's only one man to take his place, Tim Cook.And Elon Musk posted on X that it would quote be an honor to hire Jensen Wong.Some believe Wong would be the perfect person to lead Elon Musk's Terraab project, which aims to become the largest chip factory ever built, although Kashi currently puts his odds of joining SpaceX at just 8%.
This section shifts to Trump's comments on Iran, escalating regional conflict, and related threats and attacks. It also connects the geopolitical backdrop to broader market volatility and a possible Tesla-SpaceX merger story.
And this morning, only days after meeting with Qatari mediators, Trump posted on Truth Social saying, "We don't need a deal with Iran."Those days have long since passed.And in that same post, Trump said he's directing J.D.Vance to focus his attention on crime and corruption in Democraticrun cities rather than pursuing an Iran peace deal, arguing that fixing those issues could balance the federal budget faster than negotiating with Iran.But overnight, Iranian state media reported that two oil super tankers were disabled after hitting naval mines with the IRGC claiming the ships had strayed from an authorized shipping route.And they also later reported that two more tankers had also hit mines on Thursday afternoon.Yesterday, Treasury Secretary Scott Bessant relocated from his Washington residence to a US military base following possible Iranian death threats, according to the New York Times.But a source familiar with Bessant's move is now telling NBC that the concerns of an Iranian attack on him emerged after the Wall Street Journal published a story that included a photo of his house, allowing it to be
geoloccated.Iran's military also warned today that any new US attack would trigger a response 10 times stronger after Trump threatened strikes five times more powerful than before.Meanwhile, Iran's late negotiator demanded a US decision on their latest peace proposal after Iran rejected Trump's plan to transfer its enriched uranium to another country.And over in Saudi Arabia, air defenses intercepted five Houthi missiles and two drones targeting Riad, Mecca, and other regions.The Houthis denied targeting Mecca, but claimed an attack on an oil station in Yanbu.So far, Saudi Arabia hasn't confirmed the attack, but they briefly issued danger alerts in several parts of the region.The NASDAQ 100 has recovered its entire 6% decline from last Thursday in just four trading sessions, but history suggests more volatility could follow soon.Across 12 previous instances of similar rebounds, QQQ experienced another decline within the following five trading days with returns having a median decline of 4.15% only a week later.
And history doesn't always repeat, but sometimes it rhymes.The stock market's current trajectory looks remarkably similar to the dotcom bubble between 1994 and 1998 when a sharp sell-off was followed by a massive final rally before the bubble eventually burst.And Bloomberg is now reporting that SpaceX and Tesla are making progress on merger talks with Elon Musk, two largest companies, potentially announcing the biggest deal in history as early as December.Their boards and advisers are reportedly working out the terms and leadership structure, although no company has publicly confirmed the talks, and an announcement could be pushed into early 2027.
The discussion turns to SPY and S&P 500 technical levels, including support, resistance, and seasonal strength. It also reviews weak existing home sales data and the upcoming PPI release and Fed speeches.
But jumping into the SPY and looking at the price action today, it is now 3.12% off of all-time highs.And we're seeing something pretty concerning in the short term in the fact that SPY failed to break out past 763 to 762 today.This was a very large range that we've had plotted on the chart from the past few weeks.And we can see multiple instances where SPY has bounced off of this range.Of course, double topping now over the past two trading days.So, continue watching this level into tomorrow.If the SPY is able to break past that, I think it would be a good sign and we could see a jump up to around 768 to 770.That recent high around 768 to 770 is definitely going to be the first big resistance on the radar past this zone.At the same time in pre-market today, the SPY fell down to around 753.
And we've seen a lot of support recently around 755 to 75550 as well.So those two levels are going to be on the radar tomorrow as support.If I start to see the spy break down under 753, I think that we could start to see a sell-off back down to that key 744 support range where we've also seen multiple bounces this week.The spy has been extremely volatile and extremely choppy lately.So, be willing to trade that type of price action where sometimes it's better to even look at stocks that are making better individual moves.
Yeah.And the S&P 500 came very close to falling below its 200 day moving average yesterday, but it did manage to stay above it.Uh this is the 152nd consecutive trading day, marking the 12th longest streak in history.Historically, the index has performed well over the following 10 trading days after similar streaks going green 90% of the time.And starting today, the S&P 500 enters one of its strongest seasonal periods of the year.Looking at the 15 trading day window surrounding Black Friday, the index has posted gains in 27 of the past 31 years, covering the 10 trading days before and five trading days after the holiday.We did get some pretty important data today where US existing home sales fell 5 a.5% in October to an annualized rate of 3.75 million which is their lowest level since August of 2010 and below expectations of 3.85 million.
Sales were also down 8.8% from a year earlier as mortgage rates climbed above 7% pushing tons of buyers out of the market.And right now, affordability remains the biggest concern as rising insurance costs, inflation, and property taxes are making houses virtually impossible to buy for the average American, as many of you guys know.But looking at the economic schedule for tomorrow, we are going to have PPI data coming out at 8:30 a.m.Eastern time to end the week, followed by some Fed speeches as well.I don't really expect the PPI data to move the market too much, but of course, keep it on the radar at the same time.
The speaker covers Anthropic's rumored IPO and the risks of buying newly public stocks. The segment then shifts to tokenized stock trading and a bullish setup in energy names like XLE and VG.
Anthropic is reportedly preparing to go public next week at a valuation of up to $1.4 trillion, potentially raising 64.4 billion with shares expected to be priced between $70 and $78.However, looking at this chart, major US IPOs have historically experienced median draw downs of 21.2% 2% within their first 3 months and nearly 50% within their first year, showing that there might be some big risks when buying immediatelyafter an IPO, just like what we saw with SpaceX this year.And Wall Street and the crypto industry are merging their trading infrastructure.OKX and the parent company of the New York Stock Exchange are launching a 247 tokenized stock exchange on November 23rd, allowing investors to trade blockchainbased versions of real US stocks at any time, including on weekends and holidays.So, if major news breaks while the traditional markets are closed, you will be able to trade on that immediately.
Kelsey already somewhat has their own version of this with stock per that trade 245.Keep an eye on the Nvidia per as those have been going crazy over the past few days.Looking at the earnings lineup for tomorrow, it is relatively clear.So Tom, let's get right into the good stuff, which are some setups and predictions.Uh group of stocks that are still close on the radar are energy stocks.Ticker symbol XLE had a great day today, as well as ticker symbol VG, which is Venture Global.It appears that the conflict between the US and Iran is not set to end anytime soon.And I think that is the perfect environment for energy companies because supply is still constrained and um other energy companies like in the US uh have the ability to do quite well right now.So VG is close on the radar as it essentially produces and exports cheap North American natural gas to the global market.
I think they have a lot of growth potential in a longer term sense and they have been doing very well in a shorter term sense as well.So this has been a great trade recently.But also XLE is close on watch too as that tracks the energy sector more broadly.It did sell off considerably over the past few weeks but it is in the process of rebounding as it appears investors are realizing that the conflict is not set to end anytime soon.I think the biggest risk with energy companies right now is if there are any sort of like windfall taxes proposed.Um but besides that, energy companies are set to do quite well.Yeah, this is an interesting situation with these energy companies.I know XLE and even VG have been performing extremely well over the past few days.I will continue watching them too.
This chapter reviews Caterpillar's rebound potential, downside interest in TLT, and a possible relief bounce in Adobe. It focuses on technical setups, key support and resistance zones, and short-term trade ideas.
And something else that's performed pretty well over the past few days is Caterpillar.Caterpillar has fallen significantly off of its highs.If we look at the highs posted earlier in 2026, it got up to all the way to around $1,075 and recently fell back down to around 550, pretty much cutting itself in half.But looking at CAT right now, it is starting to rebound a bit and I think that we can see a bit of a relief rally.We are seeing a lot of these uh AI infrastructure plays starting to come back in the short term.We can see some stocks like MU popping up slightly in the short term and even stocks like AMD have been skyrocketing.AMD, a competitor to Nvidia, is on my radar as well for quicker scalps, but it really needs to break $600 tomorrow.But I still like CAT over the next couple of weeks to couple of months.
I feel like with it being 50% essentially off from highs, it has potential to move higher and start to fill this gap that it formed recently.And if it does fill the gap, it will simply come up and test $700.And throughout this entire downtrend, it has been a pretty steep one.And if we do see it rise from here and get to that $700 range, it might come into play right off of that trend.So, I'll be watching this stock closely in the short term for a possible relief rally.Nice.Another ticker that's close on watch is TLT to the downside.We mentioned this one recently as well.So, it was nice to see this big down move today, but it essentially tracks long-term Treasury bonds.Um, this ETF is down a lot this year because inflation is rising and then that negatively impacts long-term treasury bonds.
I think that inflation will continue to be uh like a high priority for investors throughout the rest of this year, especially as we head into the upcoming rate decision on December 9th.And because it appears that the US Iran conflict is not getting any better, I don't think inflation will necessarily cool down anytime soon, at least in the current environment.So TLT is on the downside radar, not only in a short-term sense, but also in a medium-term sense as well.And uh that broader term downtrend is uh good to see for this trade.Yeah, in the short term, we started to see yields really pop off this week off of that inflation data.And at the same time, there's also been multiple Fed speakers coming out calling for rate hikes at this next meeting.And some of them potentially even calling for 50 basis point hikes, which would be extremely shocking.
But Mike, with my next play, I'm looking at Adobe for another relief bounce back to the upside.And I'm really watching it off of a very critical zone of support.Adobe has held this range multiple times around 220 to 230.And what I'm looking for is a bounce kind of like what we saw over here in the past between April and June of this year.We can see the last time that Adobe was bouncing off of this range, it would have these wicks that would that would extend down to this range and then it would bounce up for like 3 to five tradingdays before just, you know, chopping around like crazy.Of course, sometimes it might get a little bit higher, but I've liked how it's consistently gotten up to this like 258 to 260 range on those bounces.And what I'm watching for right now is for a continued bounce again off of this level.
It's just touched it and I wouldn't be surprised if it got up to at least that 258 to 260 range, if not even higher than that towards 270, possibly even that recent high around 295 if momentum picks upenough.Adobee's been down in this range for a long time now and I think it has some really good longer term potential in this zone as well, but I'm specifically watching it for more of a shorter term swing offof this range.Of course, if it starts to break below support, I would start to cut pretty quickly and make that riskreward as tight as you can.
The final analysis breaks down a large options trade in ALKS and explains why it is a high-risk, high-reward biotech setup. It examines the chart pattern, recent trend strength, and the trade's short-term upside potential.
All right, let's also jump right into today's $525,000 big money trade.Today we are looking at ticker symbol ALKS.This is a biioharmaceutical company that researches, develops, manufactures, and commercializes medicines for complex psychiatric, neurological, and sleep disorders.We can see this stock is up a lot this year uh over 70% and the broader biotechnology industry is also pretty hot.Uh if you look at the ETF XBI or even IBB both have done quite well.Um there's a lot of good developments happening in biotechnology right now.Looking at these call options, they have some time to them, but they are relatively short-term as they expire on December 18th of 2026.They are the 50 strike price.And considering the stock is only trading for around $47 per share right now, they are out of the money.So assuming the trader is longing these call options, they need a big move to happen in a relatively short period of time, which is certainly possible with biotech companies, but it is also relatively low probability.
Looking at ALKS, I think this is a high-risk, highreward trade.It can do well.Biotechnology stocks are volatile, so understand it's high risk, high reward.Alks has had a wild trading year throughout 2026.It started trading down around $28, hit highs up around 55, and then pulled all the way back to 40 before getting this slight relief bounce in the short term.But I'm actually seeing a pattern play out with ALKS that is mimicking something that it did on its last uptrend.If we actually look at the way in which it moved throughout this range right here, we can see that it was following a fairly good uptrend before getting that big explosion through resistance.Well, right now it's kind of doing that same thing.It's following a very clear uptrend here over the past couple of weeks.And I'm really watching to see if it can keep that trend going and to see if it can get that good price action like it had back in June of this year.
Like on June 23rd, 24th, and 25th, it had like four great days in a row.I'm not saying that it's going to move like that again, but that is kind of the pattern at play on the chart.It's good to see it also breaking back above its downtrend.It went on a massive downtrend from that middle point of 2026 before finally bouncing through it here on this current move.And with it getting through it, that does give me more confidence to the upside as well.Of course, if we were still following that downtrend, I would still be a little bit worried, maybe looking for it to finally break out.But overall, very interesting setup with this big money trade.It's not the largest one that we've ever seen.Um, it's not something I would throw a ton of money at, but I think it has some good potential for the next couple of weeks.
Let's keep it close on the radar.
The video wraps up with a shoutout to a viewer who made a profitable Nvidia options trade. It ends with a reminder to subscribe and a closing message for the next trading day.
Let's also give a giant shout out to today's member of the day, Ivan, who made over $800 on some Nvidia put options today.Huge shout out to you, Ivan.It's awesome to see this post and yeah, that was definitely a nice win.So, keep on rolling.If you guys are new to the channel, welcome and consider destroying that subscribe button for every single trading day.We post brand new videos just like this one covering stocks to keep on the radar, the most important news, past stats, and basically everything you need to know and more for the stock market.If you subscribe, you'll get our videos recommended to you more often.Besides that, thank you so much for watching and let's crush it in the market tomorrow.