ULTRA Wealth Q/A Feb 1st, 2024

Speaking of. All right, again, thank you so much for your questions, family. This was really great. This is going to lead to super awesome discussion today. Just a quick little rundown for the next, you know, 59 minutes. What we're going to do is I'll go through your questions pretty much one by one for those who ask questions. And I'm sure I'll be sharing charts and going over my thought points, points and perspectives and viewpoints and opinions. And then about 40 minutes into today's session, I'll go look at the broader markets. So make sure you pull up your charts or your brokers or whatever. And I'll go through general broader market stuff or any trades that we are in or got stopped out of or are trading or whatever the case may be. All right, so the first question I'm going to address is Jeremy's, just because I think it's going to be a little bit longer. I've already answered Jeff's question about the pullback on the broader market. Let me go up and just read the question exactly so that everyone will be able to know what it is. I think it was a really, really good question. All right, my homework for a powerful question. You mentioned a few times how you put everything on the line for a trade 2 and 2 or 3x your net worth. What are your rules for that? So essentially that question saying, hey, you put a lot of your money or your account on a particular trade and then you make a lot more money, what are your rules now? When it says the word trade, I think you could just put the word trade and just substitute it for investment, Jeremy. Because usually if I'm putting in a decent chunk of change, it's not like, oh, I'm gonna get in on Monday and get out Friday, right?

The.

The ones that will 2 or 3 extra net worth, probably more like investments to some degree. I know you know the difference. I just want to, you know, make sure that we have that clarity. So my answer in the text form was, in short, research, about a hundred hours worth. So then my question to you was, how can you research a stock trade? You said, study the history of the stock and find a reoccurring pattern. Buy a low, sell high. Also research, understand the company and its market. I would also ingrain in my brain the patterns of the dot, top and bottom of stocks like you had us do a few weeks. And so I can see them in my sleep. And then I said, what research would you do to understand a company in its market? And you said, read write ups and press releases to understand what they do and what markets they serve. If they're in business to business or business to consumer, understand their customer base, reading the company's current and prior earnings release and also seeing what effects they had on the stock. All those are very true. So I'm going to pick a sock. This is not a recommendation for this particular suggestion, but let's, let's go pick a company. Shopify. Now I will say that over the next two or three months I will and I do plan on buying a pretty decent position of Shopify. And we're going to talk about why right now. But before I do, I would like to say this. My research on Shopify is relatively easy. There's not a whole lot of mind blowing awareness here. The way I picked Shopify was I went on YouTube a few years ago and I listened to the CEO, the owner, you know, Tobias, and I listened to what that CEO was talking about and their vision for the company. And then I started using Shopify, which is a online payment processor, slash store, slash e commerce brand, and started learning more and more about it. And then I would ask other people who use Shopify, what do you like about it, what you do not like about it, what's good, what's bad. I started understanding how much people paid them, I started understanding how much they made, how much money they made. I started learning and literally using the product and this is important, right? Using the product to understand how the product works and know the product so that I know how the company makes money. And now that I know how the company makes money, I can start getting certain insights about the company, Shopify. So looking at Shopify, if I'm looking at the stock chart, I can make visual recommendations that the stock was down 83%. So we had a really big pullback. Since October of 2022, the stock is now up 210% if you bought at the exact low. And my thought process from here essentially is. Let me go ahead and show you the stock chart. My thought process on the stock is relatively simple. It's had a big drop, it's had a big move up and given the opportunity, if this starts to pull back into this particular area, I have looked at and visually determined or I do not think Shopify should break lower. Right, Jeremy, which would be here, I don't think Shopify should take out that low. So what that means to me, and again, that's just my opinion. It may or may not, but that's what I, I don't think it should Do. So then I start creating a plan to buy between here and here. Does that make sense? Then I can go on YouTube like you said, study the product. And another fun question, Jeremy. Do you think I have developed a Shopify store over the last few weeks or months to learn even more how they make money and learn more about their products and learn how people use Shopify? Sure.

Yeah.

That is correct. And so now that I'm pretty comfortable with how Shopify works, I know how they use it, I know how they sell it, I know how they make money. Now I start having the ability to buy, buy bigger positions. And so when I say 100 hours of research, imagine that's two hours of research for 50 days, which is essentially two months. If the CEO of Shopify, let's call the guy, you know, Tobias, let's say he wrote, he write a book, would I read it? The answer is yes. If he has a news conference, could I listen in? The answer is yes. If he has earnings, can I read the earnings? The answer is yes. To give you another perspective. So I will call on you, Jeremy, since it was your question, Walk me through how you could do that with a company. Let's say it's Rivian. So pulling up Rivian, we know that a lot of us are in some position on Rivian right now and it's nice and low. But just give me, describe for me. How could you personally come up with 100 hours worth of research on Rivian? What would that look like and would it help you determine if you should buy and how much?

Okay, so everything you just said, so specific. But more specifically like learning about the CEO, more about the company. I know they've had like a lot of positive earnings because I've looked in the past and learning about like their plan and direction for the company and then even a little further than that because I'm a little more familiar with like electric cars about like the, in what the future of like the infrastructure is for charging and stuff like that. Because as more and more of that becomes readily available, that's going to be more and more accessible to more and more people. Yeah, let me see what else. I would probably look at. Also look at the Rivan user base, which I know people are pretty happy with. The, is it the RT1 or whatever the, the truck is and see what like their market, how their market is receiving the product and stuff like that. I'm seeing more and more of them on the road in Massachusetts anyways.

Nice. Yeah, you're doing great. What about also going to a Rivian dealership.

That's a great idea.

Have you driven a Rivian?

Have not.

Okay, so again, I'm not saying that you need to invest in Rivian. This is just an example, to be clear, right? I really, I really don't. I really don't think that it's going to go to 300 a share, but I do think it's possible to go to 30 or 35 or 40 a share. I think that's. I think it's possible. I think it's possible because it was there two years ago. So if someone was like, all right, I'm going. I want to find a really, really, really killer trade. And, you know, Rivian is a potential 2 or 3x. Again, a potential. You get to decide, do I have any affinity at all for Rivian and its products? Right. Do I care even in the slightest, or am I personally absolutely okay to just move on Rivian and go look at something else, like Shopify or Albertsons or Walmart or Costco or whatever. Something that you have an affinity for, something that you like, something that you use. And yes, you're exactly correct. As you sit there and you think it's asking people who've done it before, like, you're like, oh, wow, I should go to a Rivian dealership. Absolutely right. Go to Rivian dealership, talk to the dealers. What's great about it? How much are they selling? Get it from, then get the information from the ground. Learn, learn, learn. And then the more time you spend studying that company from the inside out, really knowing, touching, feeling and seeing its product, you can find out if you can make a big investment, because then you're going to hold longer because you did more research. An example like that, for me personally, was Ethereum. I'm sure I think a few of you probably have heard this story, but just in case. So Ethereum kind of fell into my lap a little bit. I would love for you all to know how this happened. So you don't think I'm cool? I started buying Bitcoin on coinbase in late 2015, and at the time, Coinbase only had bitcoin. That was it. In early 2016, at some point, Coinbase launched one other coin. Would you guys like to guess what that was? It was Ethereum. Yeah, it was Ethereum. So I was like, okay, cool. So I'm trying to pull a chart. I don't know why. I don't know why it's taking so long to load. Let me try. Give me three seconds. I don't know why it was doing that. Coinbase. I just want to show you as an example, E. There it is. All right, so ethanol load. So they. They loaded they load a new coin onto Coinbase. It was Ethereum. And so I started buying a little bit, and at the time it was $11. So zoom back. So this is a weekly chart, so I'll kind of give you some data. I promise this story has a reason I'm sharing all this. So I started buying a little bit of Ethereum 2016, around $11. Well, it started to go up in value relatively quickly, which was pretty cool. But as I was going up in value and went from 11 to 40, I'm going to zoom in just a second. It'll load just a little bit, start going from 11 to 40. I was like, I think I need to study this a little bit more. So here it is, here's 2016, right? And it's doing absolutely nothing. And so this run up right here, it tops out at around $347. And so I said, okay, I just made 20,000 or so dollars on Ethereum. I probably should start studying it a little bit more. I type Ethereum into Google and the very, very first thing that came up was an Ethereum mine in Iceland. That was the first thing that comes up on Google. So this is June 2017. Ish. So any guesses, Jeremy, on where I took a summer vacation?

Would it be ice?

You're correct. Iceland. Because I was like, what's an Ethereum mind? I have no idea what that is. Like, I've never heard of Ethereum. I know what Ethereum is. I need to learn. So I went to Iceland. I went to Iceland in 2017 and I went to the capital. I flew into the capital of Reykjavik, which, random fact, is the northernmost capital city in the world. And it was kind of cold when I went. And then 35 minutes south of Reykjavik is another city that I can't pronounce very well. And there they have an Ethereum mine. And the mine is geothermally powered, so the electricity is free. They have it cooled from the outside, windows being open, and they have it heated from the volcanic water underneath, whatever the steam, Right? Steam pressure. So the whole mine was running for free. And they were sharing some of the numbers with me. And I said, this is going to go a lot higher. And so I bought a lot more Ethereum and it turned out to be a good investment. Just an example, though. But how much will people, how, you know, will they not do that? Or maybe some People will, maybe some people won't. It's like just spend a little bit of that extra time, maybe a little bit of extra money, really, really digging in and doing some. So I know that you all aware. Be aware of this, but what if you had a couple thousand shares of Advanced Auto Parts because your name is Joe and you love money, Right? What if you had a couple thousand shares, Advanced Auto Parts, Joe, give me two things that you could do to start studying that position more to figure out if you should buy more shares and hold longer for a much bigger return to your portfolio or to your net worth. I think you're muted, Joe. There you go.

Yeah, no, I was trying to find it. My computer was being slow. Sorry.

There you go.

I guess go to a store first of all and see what it's about.

Hey, nice.

I know some users are.

Yep.

Dig more into financials and that sort of thing.

Bingo. What else?

Find out who the users are, a bunch of mechanics, potentially, that sort of thing.

Yeah, totally. So you're saying interview and talk to some, you know, some mechanics, some people who go to Advanced Auto Parts and purchase some stuff there, right?

Yeah.

What about interview some people who own Advanced Auto Parts, like the actual building?

Yeah.

Talk to some manager store, I guess.

And checking it out. Yeah.

Now that I know, that kind of seems obvious to some of us here on this call. But that doesn't mean that you have to do that. Right. Keep that in mind. I'm just saying you could. I haven't personally. I don't personally plan on doing that for Advanced Auto Parts, but one thing I have done is I do have a friend who owns a few Jiffy Lubes and Precision Auto Tune. And I called him and asked him, hey, dude, what do you think about Advanced Auto Parts? And he only had good things to say. And he's a competitor. Right. And so I told him, well, hey, man, this was when the stock was at like 55. I'm like, maybe you should buy a bunch of shares so that you can own a little bit of your com, your competition, so that way you can make some money if they go up. And you're going to make money because you got Precision Auto Tune and Jiffy Lubes anyway. But if your Advanced Auto Parts and Advanced Auto Parts goes higher, well, at least you can own some ownership. So you're making money both ways. Yes or. Yes. That makes sense. Team.

Yep.

Sweet. So those are some ideas. Those are some things that we all can do for those who are here in this room. Like, we have literally the capacity and the capability to get after it and go study. I did do this on Chipotle a couple years ago. I did not make nearly the investment that I should have, but it was right about the time. I think this was like 2018. So once the chart pulls up, I'll zoom out a little bit. I don't know if anyone here remembers this, but there was a time where Chipotle got accused of having rats in their store or whatever. And people are like, I saw a rat in the store and Chipotle was tanking. And people said they got a know Ebola from the lettuce or whatever. And there's this whole thing. And Chipotle was back down here, like $400 a share. So this is like 2018, 2017. And I went into some Chipotle, and there's like seven or eight in Nashville. And a random day, I literally went to every single Chipotle, and guess what was happening? There were lines in every single Chipotle store. Now, you might go, well, Newsom, but you can't use that to come up with your investment thesis. It's like, well, yeah, I mean, you kind of can a little bit. And then, of course, notice the volume. You guys see these big bear volume spikes down here, right? Huge, huge, huge, huge, huge bear volume spikes. When the stock eventually close above those big bear volume spikes, as we've been learning in this class, what began to happen to the people who were shorting Chipotle, they got squeezed out, and the stock slowly starts going higher. So you factor technical analysis in with all the things that we're discussing, and the fact that every single Chipotle had a line out the door. And I said, all right, well, I'm a buy, you know, whatever, a couple shares, I really didn't buy as much as I should have, as I said earlier. And, you know, stock went higher. There you go. But if you had bought it at 400 in 2017 and had the thesis to own it and leave it alone for three or four years, you have 6x your investment. And if you made a decent investment, right, Jeremy, let's say fifty thousand, a hundred thousand dollars, that's not a bad return. Okay, last one. Go ahead, Eric.

Eric, I have a. I have a question. So because you went to Advanced Auto Parts, and that's one of our clients at work, and I could see this is. I don't know. I'll just. I guess my question is, can I get in trouble? Because I can see the revenue data for all their online sales. Because of the nature of our software and stuff. Is that something I should be concerned with or careful about? And we have a lot of blue chips coming out.

I'll. I'll answer it this way. Did you read any of your documents that you signed at work to be at that work, and did any of those documents mention that you cannot place trades or investments based on the data of your companies?

No, it didn't. It didn't. I don't believe it said that. It was like non. It was like a non compete type of document.

Oh, well, then, brother, welcome to the inside. So if I was you, I would take that information seriously. Now, there are a lot of people that when you work at a bank or levels of government or whatever, sometimes you got to sign certain documents and sometimes you can't take trades at all. Unless, of course, you work in the Congress or Senate.

Of course.

Of course. Right. Other than that. Right. Everyone except senators and governors, you know, regular people. But yeah, if you work at banks or certain levels of things, you can and cannot. But what you're saying right now is valuable information. And if that information is private only to you, I probably wouldn't make it extremely public to everybody. But if you felt like it would be useful for you to make that decision and take those investments and you had to sign no disclosures and it's not illegal for you to do that, I would do it.

Thank you.

You're welcome. Cool. Great question. Awesome stuff. I love it. Okay, so Eric had a question. There was a little scroll up. I can't remember. It was down or up. And then, Sue. Down. Okay. Because, sue, your question is essentially, I'm going to answer it with a video. I'll be making a video on RSI relatively soon. All right, Eric's big question. What would you do if you're in my position, what would you focus on learning? And what income streams would you grow? Oh, man, that's a big question, Eric. It is. What would I focus on learning? This is my answer to most people who. Who ask me that. Like, what would I focus on learning? How money works in the hundreds of millions.

So that was, like, right over my head.

I know I don't have 100 million yet. That's okay. But how's the money work at that level? Like how. How does money work at hundreds of millions and above and comma slash semicolon? How can you get access to hundreds of millions of dollars of capital without any of your own capital? Those are things that your brain needs to ponder. Okay, I think we all should should be aware of certain aspects of money. Because a lot of us at some point in our life will get hung up on things that we don't have because we can't purchase it with money. When you don't always have to have money to have a thing, sometimes you just have to have a connection, a friend, a hookup. Knowledge or information, Right?

Yeah.

So here's just an example. Let's give you an example so that we can bring it home. Let's say that you have a friend who wants to build a skyscraper and the nearest big city to you. My friend wants to build a skyscraper. And that friend is already worth $80 million. Wants to build a skyscraper. The skyscraper is going to cost $60 million. And he says to you, hey, I'll give you 5% ownership of this skyscraper if you can help me raise $60 million. Do you have to spend any money to have 5% of a skyscraper? No. Do you think you could raise $60 million for a skyscraper?

Yes.

Well, there you go, brother. My suggestion to you is start raising $60 million for skyscrapers and you'll be very, very wealthy. Very quick. Very quick. Because money is very valuable, but it's your least valuable asset. Attention. Being able to capture people's attention and being able to sell something is more valuable than money. Because if you can sell the idea of a skyscraper 60 million times or $60 million worth to either one person, a few companies, or a few different individuals, Eric. And you could take ownership of a 5 million dollar skyscraper for free just because you brought money to the table. Your negotiation and communication skills are more viable than the money. Yes or yes?

Yes.

Isn't that wild? Family? Yeah. Isn't that crazy? Cool. So for you, man, I would, I would, I would focus on learning how to scale money without your own money. Because that is, and very, very easily can be an income stream. Because that's the answer to your second question is I would learn to start focusing on growing income streams and, or defining what an income stream is for you and what exactly it looks like. Because for example, if you buy 30 shares of Nvidia and leave those 30 shares alone for a year and Nvidia goes from 620 to 820 a year from now, will that be considered an income stream for you? Yeah. Okay, so then an answer would be, all right, start finding out which stocks are going to go higher, buy them, own those assets and leave them alone. Because if that's an income stream for you, focus on learning that and learning how to grow to those income Streams. How to grow money without your own money. Yep. And how to grow stocks. Meaning, sorry, not how to grow stocks, but how to invest in stock for the longer term. Owning an asset and just leaving it alone for a while. Not a swing trade, not a day trade, but I'm buying this company and I know it's going to go higher over time, and here's the 46 reasons why I think it's going to go higher over time and just leaving alone and building that income stream.

Got it. Buy on down days.

What a great strategy that can be.

Yep. Awesome. Thank you very much.

My pleasure. You're welcome. Okay. I love this company that Joe wrote. Sorry, not company question. Joe says, besides pushing your body to its extreme limits, what are some other strategies for dealing with stresses and frustrations in trading and in life in order to stay positive and be successful? I love it. What a question, Joe. So I will answer this. Qu. This. This word right here. Why do you think I'm highlighting that word, Joe?

Which one was it? It's small for me.

Oh, sorry. The word body. Yeah. Why am I highlighting that word?

I just know that you do that a lot.

So go.

Yeah, I do a lot of stuff to my body, but I also do a lot of stuff to my mind.

Sure.

So if I would say push your mind to its extreme limits, do you feel like there's. Do you feel like there's a lot of growth there that doesn't have to be physically painful?

Definitely.

All right, so, Joe, give me two examples of what you think pushing your mind to an extreme limit would look like.

Doing something scary or new.

Okay. I agree. Doing something new and scary. Give me an example. Remember, it's your mind, not your body. It's your mind.

Yeah. No. Taking a big mentorship, for sure.

Yeah, you're right. So this. This is one of. This is an example. Getting into a mentorship with amazing wealthy people. That's a great answer. What else?

Just.

Just explore new. New development. Like personal development type. Things that. Not used to doing, I guess. But I guess that just falls under new as well. But just trying to think about things different ways, too.

Yep. All right, so here's a. Here's an example. Because remember, I'm really good at coming up with ideas, random ideas. Pushing your mind to an extreme limits. Joe, when's the last time you worked on memorizing an entire poem?

Probably school years.

Okay, so, you know, a couple years ago.

Yeah.

What about. What about mastering the game of chess?

I don't know how to play chess.

That's okay, right. This is. But that's an example. Would you agree?

Yeah, yeah.

What about taking a random Saturday for 12 hours and praying from 6am to 6pm.

That would be different too. Yeah.

So just. Just random things. If we sit down and go, all right, my goal here is to push something to its extreme limits because it can be body, this can be mind, this could be love. Right? Your relationship with you and your husband or for my man, for you and your wife. What could that mean? Like, how could you push it to an extreme limit? Doing something really, really hard together, Doing something fun together. Doing something brand new together. Bungee jumping, skydiving. Who knows? I don't know. Going on a long run, climbing a mountain. Besides, pushing your. Instead of body, instead of mind, instead of relationship, it could be spirituality, right? How do you push your spirituality to extreme limits if you have a very particular religious belief? Have you ever gone to another religious place to study, to learn to listen from someone else? I'm not saying you have to. I'm just saying how do you, like, if you claim to have a faith? Well, you know, if you never test it, then it's probably not faith and it's just knowledge. Right. You can believe whatever you ever want to believe, but if you never test that, I mean, how do you know if it's strong or not? I know if it's good or not. So all. All good examples. And that's really the way I live life, Joe, to some degree, is I. I agree with you a thousand percent for dealing with stresses and frustration and let's just call it life and being positive and be successful. I find ways to win at other things. That's really ultimately the answer. And if I say to myself, and the reason I told you about the chess thing is, I did not know how to play chess at all a year ago. And whatever. January, late December of last year, I started playing chess. And I'm. I now play chess about two hours a week, and I'm not good, but I will beat you if you're not good. So unless you're good at chess, I will beat you. If you're really good at chess, you'll probably beat me, but it'll be a good game. But I'm a lot better than I was a year ago. And when you start playing a lot of chess, you'll start to know how much of a mental limit, an extreme limit, it can be very, very interesting. So, yeah, awesome, awesome question. But no, it doesn't always have to be the body. It can be for My gentleman, it's a really easy go to, but sometimes it's not. So pursue RSI indicator. I am going to make a new volume on that. Sorry, a new video. So it's a really great question. I can't answer this one though. The volume shadow and the indicator, how do you use it to evaluate charts for trades so I can answer that for sure. I will say I don't spend a whole lot of energy or effort on the, the, the blue volume bar that you're talking about. The blue volume bar, the shading sue really just tells you the average. This is the average volume. And so. Exactly. So if I see a big volume bar outside of the shaded color, that just tells me, oh, it's a lot bigger than average. That's it.

Yep.

That's the only thing I use it for. Touch on taxes. Just things we maybe want to be aware of. Tips and tricks. And most importantly, what would you say are the top five things you've done or learned in your trading career that made you successful? All right, I'll answer number three. We do have a whole two weeks dedicated to taxes in month five, just FYI, because I know that's a big. Yep, it's a big, big deal, I promise. But here's what I will say. Never avoid a dream because of tax implications. So if you can sell something and that selling something will put you into entirely different place of your life financially, and you're like, oh, I don't want to sell it because I'll have to pay taxes, right? Or a lot of people go, I don't want to pay a bunch of taxes. So they make sure they don't make a bunch of money because they don't want to pay taxes. Don't avoid a drink because of tax implications. Jeff and Scott will tell you taxes are no fun, but I'd rather pay a million dollars of taxes than pay $5,000 of taxes. Because if I pay a million dollars of taxes, I am assuming I've made at least 4 million, right. I made at least for somewhere. I mean, do I still have it or not? It depends if I'm a good person, a good steward of money. But if I'm paying a million in taxes, you know, you made at least four, So that's. But I will, I will definitely touch on taxes as we progress in class. But I will say this, the helpful tips and tricks. My answer, don't worry about it. People stress way too much about taxes too early. The IRS will never arrest you if you, if you say, hey, I Know, I'm paying taxes. Give me some time to pay my taxes. They'll say, okay, so if you made a bunch of money and you don't have that money saved up for taxes, they will give you a payment plan and you can pay your taxes over time. The people that go to jail don't go to jail for not paying their taxes. They go to jail for not telling anyone that they owe taxes and just leaving the country to Bermuda and just not reporting taxes. Those are the people that go to jail. If you got to pay a million in taxes and go, yeah, dude, I spent it all on a car. I bought 10 Corvettes so I can go race my boy Jeff. Well, sorry, I guess, but you're going to be on a payment plan for a while, but you're not going to go to jail. All right, and then last but not least, what would you say are the top five things that you've learned or done in your trading career that's made you successful? Maybe not financially, but just overall successful? I would go back to what I was talking about to Joe is I realize there's a lot of ways to optimize life. And my ultimate belief is I want to figure out how I can optimize all of them. And the fastest way for you and for everyone here listening to Go, can I optimize my time or my life or whatever is ask the question, have I done that before? And if the answer is no, go do it, or find a way to do it, or if you haven't done it in a very, very long time, find a way to spend time doing it. So here's an example, Sue. Have you and your husband, have you ever gone to a Michelin star restaurant? No. Cool. So that could be something you could do this year, right? There's probably one within 10 hours of you somewhere.

Probably one near Chicago.

Yeah, yeah, yeah, there'll be one in Chicago. And when you go to Chicago, make sure you hit up Jason Chase and go hang out with him and his perfect wife and they'll, you know, you guys all go to dinner together.

Are you in Chicago, Jason?

Oh, you're muted, Jason, but yeah, he's. He's near there. Okay.

We're close.

Sorry.

No problem. No problem.

No, we're in the suburbs outside of Chicago. Where about.

Where are you?

We're just a little bit west of Rockford.

Oh, okay.

Yeah. So, yeah, my husband works in there sometimes Deerfield and no.

Oh, yeah, I know Deer, Phil Oak Lawn and.

Yep. Cool. There you go. And Jason loves good restaurants. Too.

I love good food.

So that's.

That's the only reason we go into the city.

Yeah.

Right.

Have you been to Gibson's?

Oh, yeah, yeah.

I've been to Chicago a bunch of times for work, and that was one of the places we went to.

Oh, yeah, yeah. They've got one. They have one in city and another one close out in Oakbrook. It's kind of close to me. That's good stuff.

To the Oak Brook one.

Okay.

Yeah. So to answer your question, Sue, I, I ask my. This is a true story. Every week I will ask myself, what have I not done recently? Or what have I never done? And once I come up with some answers, I will put those things on the calendar and then I start working towards that. It doesn't have to be next week, right? I'm not saying go to Michelin star restaurant next week, but I'm saying, could you go in April or May or June? I mean, you just made enough money unplugged to have like five Michelin star restaurant experiences. So, you know what I'm saying? It's like, hey, we can. We can all. We just plan things ahead of time. So one thing that I've never done is I've never pulled a car for a marathon before. So I would like to do that. And I'm going to start working on that and start doing that sometime around mid, mid March, early, early April.

There goes that body again.

There it goes. But yeah, they're just an example, right? Something I've never done before. So I just want to go, all right, cool. I'm gonna do that thing. So it. That's, that's the big one is the constant never ending. Go figure out how you can do it. Something that you've never done before. Yeah, okay. Beautiful. All right, one more question. Thank you for that one. That one's awesome. And I think Nancy had a really cool one. Do you have any gap and go. Sorry? Do you have any go or no go criteria you use to determine if you should or shouldn't trade that day? Example, I'm not feeling well. Too many distractions. And if you don't, how would you prepare yourself to overcome the obstacles? For me, one of my no go criteria, if I, if I should not trade that day is if I am angry or really, really sad. Both of those don't happen extremely often for me. But you are correct, they are emotions, the distractions. I probably could do better at that, I'm sure, because, you know, life has distractions right now. But if I'm angry or if I'm really sad, I'm not going to trade that. Well, because anger is my ultimate poison. That's one of those emotions that gets me pretty good because I don't know about my other people think about anger. So that's, that's a good one. Yeah, yeah. But I mean, hey, you know, you might have it under control, but for me, that one can creep up and get me. It can really, really bite me sometimes. So I, I, I do. You're absolutely right. There's certain emotions that I will do. Another one is, this is a unique one. But if I'm ever under a lot of financial stress, for whatever reason, something came out, lawsuit, something broke down, some huge thing that nobody was expecting, you know, whatever that occurred in life, I do not trade that day upon getting that news. So I had a deal recently that I'm in, a real estate deal. Shocking, right, Eric? I mean, you never have real estate problems, right? So I have a real estate deal that I'm in. My business partner calls me, I need a million dollars by Friday. It was Wednesday. So I was like, okay, cool, let me figure this out. Start making phone calls, blah, blah, blah, so on and so forth. But guess what days I did not take a trade. This is recent, by the way. This was in December. I didn't trade that Thursday, and I definitely didn't trade that Friday because a million dollars is still an amount of money that will stress me out if I'm not expecting to have to move it around. So, yeah, that's one of my big ones. If I have a big financial stress, I don't trade. Great question. All right, last 15 minutes. I will answer some of the other ones. I got yours. Right, Jeff, you feel good about this? Obviously, it's my opinion, but I think I'm pretty right on that one. And then, Brian.

I already started buying some after you wrote that.

There you go. There you go, Brian. So for you, practice, dude, practice. Don't you're telling yourself too, too big of a number. What I mean by that is you're saying, I'm gonna walk away all day. I'm not gonna look at my chart all day long. Yeah, right. Just, just say like an hour right there. Start. Start building in a win. Because if I tell you, brian, let's go run 50 miles, your brain's going to say, no, that's stupid. But if I say, let's go do three miles, your brain's like, okay, cool, I can do three. So give yourself some small victories, some small wins. First and build the discipline, build the habit of, okay, I can do this. And your body will know and your brain will actually believe you. That's the big one, right? Your brain has to believe you. So in order to get your brain to believe you, ladies and gentlemen, you have to give it prior evidence. If you don't give it any prior evidence, your brain will call you a liar and it will self sabotage. Does that make sense?

It does, yes.

Again. All right, beautiful. So let's go look at some broader markets stuff. I do think Apple's gonna gap up on earnings and I think Amazon's gonna gap down small. I don't think it's gonna have a super, super big gap down, but I'd probably would buy shares of Apple and, or shares of Amazon. I probably wouldn't specifically do a call option directly because, well, mostly implied volatility and timing and things like that. I don't usually, usually Amazon, Apple don't have huge, huge, huge gaps. They can, but I don't think they're going to. People know they did well quarter four because it's Apple and Amazon. Right. So they're going to do pretty well on earnings. Like they're going to make good money, Tom. No one's gonna be overly surprised that they're doing okay. It's gonna be all right. I do think Apple though does gap up on earnings and fades back down. So when I say fades back down, I think it's going to open around195,196. And it just trades right, you know, trades right back down. And I think Amazon gaps down just a little bit on earnings, a relatively smaller gap. So right now I think Amazon's up like 2 1/2% on the day. Again, these are just my opinions, of course. Usually with earnings it's almost essentially a coin flip about how the stock's gonna react. But next month, trends, I am gonna go over how you can start planning ahead of time what an earnings gap might do based on some of the candles, Tom, and more specifically just kind of come up with a plan. Amazon had a really, really big bounce, Jeff, from yesterday and today. So I think that we're just going to kind of open probably at 155, 152.50, slowly chop around and then ultimately continue higher. Yeah, so that's kind of my, my general thoughts on Apple and Amazon mostly because Amazon just had such a big run up. Right. Had a good last earnings. It did have a gap up last earnings. So it's, it's gapped up the last two earnings and you're up from 120 to 160. So even if they have a really good earnings, I, I don't think it's going to gap up that much because it gapped up the last two. It's kind of my thought. What you think, homie?

What do I think?

Yeah.

I don't, I mean, I, I, that reason I'm asking is because I see such a big move today, so that's why I wasn't sure it, it. I read a lot on Amazon. It appeared it was gonna have good earnings, so I assumed it was gonna go up today. I mean, tomorrow. But I know you can make big money if you predict earnings to the next day. Cause I did it with Tesla and a few other stocks, so that's why I was just. But some people stay away from that too. But I like to take the risk.

Yeah, yeah, yeah, totally. What I can do is I'll give you a really fun gift. If you ever want to bet on a stock going into earnings, you want to bet on whatever direction the stock is going. If you. So if you think it's going to go up, buy calls on down days, Tom. Not updates. And if you think it's going to gap down, buy puts on updates, especially big updates like right now on Amazon. So that's the thing is if you do think a stock is going to gap up, and I know this is a little advanced for some of you who are here, but just, you know, we're going to get into options, I promise in later months and I will do all the options and all the stuff. But for a glossing overview, if you want to make a bunch of money over earnings, you want to take a little bit of a gamble. Buy calls on down days, Jeff, and buy your puts on updates, but don't wait for a big update to buy a call like today on Amazon. So if you think it's going to go up, buy shares and you'll still make money if it goes up. But if you buy a call, it literally has to go up another 8% for you to be profitable because you bought it on an update. And then the implied volatility is going to come out of the option and you're literally not going to make as much money because implied volatility went dry.

I have a question about that.

Yes.

So how far ahead of time are you talking about? Like a week?

Yeah, a week or less.

Gotcha.

Okay.

Yep, yep. So if the stock is coming up into earnings, Tom, and you're having down Candles and you're like, I think it's going to gap up. Shopify is an example of that right now. I personally think Shopify is going to gap up on earnings. So today Shopify had a big down day. So I bought some calls today on Shopify. Now if I'm wrong, that's fine. I'm not. It does doesn't have to go up. But I know Scott is looking at getting into some bullish positions on Shopify and today was a good update. That's why if we go to everyone's favorite stock, Nvidia. Do you guys remember how I was saying, if you're looking at buying calls on Nvidia, make sure you buy them on down days or when it's red. You guys remember me talking about that? Because the overall trend is bullish and I do think Nvidia is going to go higher. But if you're buying bullish positions, you're always going to make more money. If you buy bull positions on downward moves, specifically Tom, related to call options. But if you think something's going to go up on earnings and it's already having a big up day, the day or two before earnings, just buy shares because you'll still make money. What do y' all think? It makes sense.

Yeah, that makes sense. Perfect sense.

Cool, cool, cool, cool, cool. Sweet. Speaking of Nvidia, let's go look at that and we'll take a quick sneak peek at it in just a second.

Can I ask a quick question while you're doing that?

Yes, sir.

I, I bought a vertical spread on Apple and it's going to expire tomorrow. And I'm, I'm. It looks like I'm gonna do good on it. It's not gonna go below where I sold the put. Just let it go. It will expire and I'll get my money on it. Or do I have to buy out of it? So just let it expire.

Yeah, just let it expire.

All right.

Yeah. You said expires tomorrow, right?

Yeah, on the second. So is it the end of the day on the second or the beginning of the day?

End of the day, yeah. So the market at 4pm Eastern has to close above the vertical spread that you sold.

Okay.

Yeah, it should. Perfect. Thank you.

My pleasure. Yeah, keep me posted. Tomorrow you can message me, but you'll, you'll slowly see that, that price get wiped out, which is good. Just let it, let it go to zero. Let it go to options heaven. Okay, so we're looking at Nvidia. So again, with earnings Coming up late February on Nvidia. Right. The last three earnings they beat. I think this earnings will probably be also. And I think if. I'm just going to let you know now, if Nvidia gaps down on earnings, I think it's a viable event. Now, why do I think it's a viable event if Nvidia gaps down on earnings? And I think it's going to do similar to what AMD did. Right. They're in the same space. AMD did have a small gap down on earnings. But did AMD get bought up on earnings after a gap down A little bit. And the answer is. Yeah. Right. AMD is up today. It was down really for a day and then since then has recovered. So it's kind of giving you guys that future projection. Just kind of my thoughts on it. But yeah. Sweet. All right. And then five minutes before market close, let's go through just some trades that we're all in together. I. We did get stopped out of Zim. Thanks a lot, Brian Jones. That's your fault. No, I'm kidding.

Hey, hey, hey, hey, hey.

Look, I'm gonna make. I'm gonna make up with it on Etsy. You need to look at Etsy at the end, please. Yeah, for sure, for sure. I was just joking. No, I like the trade on Zim a lot. It just. It just didn't work. It's all good. So it's down 11. I don't know what senator or what governor caught us, caused us to lose money on that one today, but, oh, well, so be it. So Zim down a bunch. Your girl sue made a bunch of money on Plug. Good job, sue. Ntra. We are in that bullish, so I think we're in that one together. So that one, that one right now is looking pretty toasty. It's looking pretty good. Yeah, it looks nice. John Alonzo and Brian both were asking about Etsy. So Etsy is cool. This is a stock that I generally do like a lot. November, December, January. Why do you all think that? I generally buy or look at or I'm considering buying Etsy around November, December, January, Christmas, the holidays. Yeah, there you go. Yep. Christmas holidays. Yeah, precisely. So I think people are buying it because, you know, people spend gifts and presents and handmade trinkets and all the things. And if people are buying stuff on Etsy, Etsy's making more money essentially. So I don't know why. It's. I don't know. My training is being weird. I probably need to restart it later. But. But yes, I'll post a chart on Etsy later today. I do think that if etsy closes above 77, which is the high of today, I think it's going to probably continue up. It's really at that big. Is that a big, big, big do or die level? Etsy is particularly so. I think it'll trade sideways for a while. But yes, if Etsy can take out and close above the high of today's candle, it should continue higher. And I'll post a chart on Etsy a little bit later today. Yeah, thanks, man. But there's a lot of resistance and there's some, there's some stuff in the way on Etsy, but yes, it is and does look pretty good. Joe, I love your advanced auto parts looks really pretty well done. And again, I know we're in NTRA and we got stopped out of Zam, so all good. All right, team. So for those in the ultra wealth mentorship, Monday, Tom, when we come back, we're going to be talking about gaps. February is all about those gaps. So get ready to study gap ups. Get ready, study gap downs. You guys are ready for this week two of February. We're talking about earnings gaps. We're going to do so many earnings gaps, you guys might not like me anymore. And then we're going to do a few more earnings gaps. We study charts, we learn the art of trading. We all make more money, give more to our community, grow more wealthy and become happier. Right? Yep. Beautiful.

Yes, sir.

All right. Family.

Intel.

I'm in on that.

And obviously earnings. And now this. Not distribution, but the dividends are coming out.

Yep.

I'm getting kind of hammered on that. Should I just hang tight, obviously, or.

So intel will go down a little bit on dividends because it pays a pretty decent dividend. Brian was getting hammered on intel too. And I'll tell you what I told Brian. Intel will go back up to 49, but it might take seven or eight weeks. So if you're comfortable holding kind of dead money for another seven or eight weeks, intel will recover and it'll fill the gap and it'll be back over 49, 50. But it'll, it'll be sometime in March, Tom. So if you're okay to hold on to it, go ahead and get your dividend. Know that your stock will drop a little bit and then just hold on to intel because it's going to go higher over time. Yeah, man, great question. And then your call, if you sold a call, your call option should expire worthless. And then you can do another one, you know, sometime in March if you sold a covered call against your shares. All right, sweet. Well, family, thanks for being here. If you have any other trades or looking at anything or you have any questions, message me. I'll be replying some other questions in the WhatsApp group. Very well done. Awesome group coaching this week. If anybody has any trades that you want to look at, I have one request. I want you all to post some losers. I see a lot of winners in that chat pane. Don't let me be the only one posting losers, all right? I post enough for everybody. Jeremy. I got plenty of them. Good. Post some losers. Because, Eric, you study your losers. That's how you find your winners. Yeah, that's true.

I'm gonna send you my Google watch right now.

Beautiful. Beautiful. Good, good, good, good. Buy more Google also. But, yes, study the losers. Let's learn from it. Let's find out what we can do. Post some more losers in the chat pane. I love winning, but I love studying losers. Okay. Yep. Love you, family. You're the best.

Sounds good.

Thanks.

Thanks, Jeremy. Bye.