Trading Live With Bubba Ep. 322 Video ID: ANiL3deItNo URL: https://www.youtube.com/watch?v=ANiL3deItNo What's up everybody? Welcome aboard to trading live with Bubba for Thursday, the 23rd of July and markets are getting hammered right now. Uh you're seeing a little bit of a beat down. Uh now this is interesting. You had you had Google come out with earnings yesterday and they were they met expectations or beat and they're getting hammered. Uh Tesla getting hammered. Okay. So this is kind of what we talked about the last couple of days, the last couple of weeks is the earning expectations are so high that you know, if they don't beat dramatically, what's going to happen? And of course we're seeing that result here. Now we haven't had a lot of active day trading things to do. Our our open trades are in a good shape, but we haven't had a lot of active things to do here. Uh from a day trading standpoint, but I'm thinking that, you know, there's be very careful here if you're going to try to play the short side of the market here. Um we are setting up for a potential uh rip your face off rally. Uh our our portfolio models, we just covered our short MNQ. Okay. Uh that that that's a trade we carry overnight. Uh we did take off some of our our profits there and again I just I think you should be very careful in here. Don't get me wrong, we can go a lot lower. Okay, there's room to go a lot lower, but at some point here I would expect what we like to call a rip your face off rally. Uh I think that's important to understand how that does how that does work and how those do trade out. Um, and you know, they come out of nowhere and they come out of some panic selling. I don't know that we would have we would call this uh, panic selling yet because we're really not triggering any trades. So, the speed of the market is not really uh, anything crazy here. Uh, the velocity is not any crazy here. So, we're we are going lower. Uh, the VIX is up about three bucks. Getting up and nearing nearing 20. So, I would again, I'd be very careful. I You know I like the short side. I've been talking about that for the last few weeks. Look to sell rallies. Uh, and uh, we were short and like I said, we are covering not all of the shorts, but I would not I am not going to enter a new shorts on a longer term time frame now until we get uh, a little bit of a what we'll call a rip your face off rally type of trade. I think this is uh, something to to be aware of. Uh, something to be careful of. Uh, again, we're waiting for something to do here, but you can see that there's nothing for us in here. So, as we look at the at at the rest of the board right now. Um, now Apple has earnings next week. So, not really much for us to do and it's really not much for us to do anyways either way. Uh, Amazon getting spanked. Okay. Uh, not a not a surprise. Uh, and uh, at the end end of the day, uh, there's nothing for us to do right now, but they also have earnings next week. Uh, Coin has earnings next week. Uh, again, you you're seeing even with the selling, there's a lot of things that are not really a position that you'd want to put on yet. Um, you know, again, as we as we look, you can see that we're not getting anything yet to trigger any sale here yet. So, we're uh, continuing to uh, wait and wait for our our turn and wait for our opportunities. Uh but again, the the earnings that have come out, even if they've beaten, the stocks are still getting hammered, okay? Crowd again, where we were we were we sold that the other day or we talked about it. Uh you know, meta, nothing to do once again. Like you know, I always remind you that we want to have an edge. Now, certainly Google, this would be a potential opportunity to go ahead and and and and sell some put spreads in Google if you're willing to do so, okay? The earnings are out, the number's out, and let's see what we would look at here. I would do these actually for Monday. Okay, let's look at Monday first. And not enough. Let's go to Let's go to Wednesday uh and see what it looks like there. I think the the 315 310 for Wednesday, okay? Would be good. A 315 310 put spread for two bucks is a good trade, okay? Now again, it's a little bit more risk than we normally take. It's a $300 risk for to make 200. Okay, but you've got, you know, a couple of bucks lead here, and I would expect we're very oversold here, so I would expect some sort of a bounce off of this. Let's just go back here and see things developing in in our day trading scale. Nope. Nothing is is is in our day trading, so we'll let that go for now. Uh and uh INOQ, nothing to do. IWM, nothing to do. Getting close. MP nothing to do. Microsoft nothing yet to do. M M S T R nothing yet to do. Netflix which we have a position on which is a winning position at the moment nothing to do. N N E nothing to do. Nugget nothing to do. Nvidia nope. Palantir nope. Again what we're looking for is we're looking to move all the way down here. Okay before we'd want to get in or all you know we're looking to either we sell here or buy here. The Q's getting clocked. Okay but not yet in that spot yet. S M C I rallying getting close to being a sell. But again I can't force these trades. Um you know Space X not far enough down yet for me to want to be a buyer. Spy nothing and again if you have questions as I go through these feel free to to to chime in. I'm willing to talk to you and answer any answer any question you have. This the the X X X it's the X Y Z which we talked about a couple weeks ago is working nicely. Tesla again this is one I would also look at for next week. T S L A And let's see here. Let's look for Monday first and see what we got going here. 320 31750 for a dollar two I would I would do that. 320 31750 for a dollar two for Monday. Okay. Okay, 20. Okay, so that puts us in two potential trades again. Obviously, these are just things I'm going to do. Uh, whether you want to follow along or not, that's up to you. Uh, certainly I would look at selling call spreads in USO. Let me just flip this back here while I'm looking at the price, see if we don't miss anything here. Uh, USO call spreads for next Wednesday. I would sell the 141 142 for 45 cents. Okay, for next Wednesday. Okay. And And so we're getting close to potentially some some action here. Um Let's see if anything triggers for us. We'd be looking most likely at the uh at the Dow would be a potential trigger. Okay, it didn't trigger yet, but we'll watch and see. In the meantime, we did put on two trades. Or I put on two trades. Again, they're not necessarily that's only up, that's your decision. I'm not recommending, I'm telling you what I'm going to do and what I see. And interest rates continue to rise and all kinds of things going on here, so we'll see let's see what it looks like. But we still need this to trigger, and it did not trigger yet. Okay. Now, in the next couple of weeks I'm going to teach something new which I'll invite you guys to the special training I'm going to do. Uh, I'm going to add one function and one feature to this which we would have bought already if we were going to if we if you had known what I was going to do, we would have been a buyer already of the of the YM at about 51805 or so. We did not and it was not a trade. I didn't call it out. It just that that's something that we're going to work on and I will invite you to the training. You just got to let me know you want to come by emailing me. And if you have any questions as always, please feel free to fire away. As I said, we did cover some of our longer-term shorts this morning. Um maybe a little early, but you know, you got to take the you take the profits when you can. Uh you know, and and and and and and don't get too greedy. Uh certainly you can also if you're short, you can work some stops to protect yourself as well. Um I mean those are things that you can always look at. Uh and again, we don't see anything yet percolating. So, let's go back and finish off our our stock list anyways. Uh we missed Wynn. Okay. Uh XBI nothing. Actually, I don't trade, but I would be looking to sell it if I did. And Zoom nothing. So, we came up with two potential trades. Google 3315 310 put spread for Wednesday next week and Tesla 320 31750 put spread for Monday. Uh $2 and a $1.05. Okay. So, those are two we're looking at and we'll see. And of course, let's see if anything else triggers in here and uh while we're waiting for the potential trigger cuz we'll have time. Uh let's just take a look. You can see gold is getting hammered, but it has had a a a a relatively solid run and it's really just in consolidation. No big deal. Okay? Bonds and notes continue to get hammered and they're breaking down, which are the interest rate products. Uh we've talked about those uh and being short those and we are we are still short those. Uh so, again, something to look at. Uh I wouldn't sell them now. I would wait for a rally. Again, now I'm going to kind of I'm in a position to wait for a rally to come. Uh I think that you have to be uh careful and cautious here now. Uh you know, you you could see that uh that what we call that rip your face off rally, which usually shows up in something like this. Uh and again, anytime you have questions, please feel free to ask. Um I have no really other trades to give you right now, but we're going to continue to watch this for a for a day trade if we can get one. But, they're hammering them pretty good. So, we'll see. We'll see. We'll see. Again, there's not a ton of volume. There's not a lot of panic. There's not a lot of speed. It's just kind of just working its way lower. So, that's something that we have to you know, be aware of and be ready for. And if that'll something coming in crude. And as always, if you have questions, please feel free to ask. But right now, I got nothing to do. We've gone through our stuff and uh you know, Bitcoin is once again going back into that consolidation level. Between you know, 60 and 65,000. Looks like it was a false breakout. So. You know, we're getting hammered now. We're on the dead lows in the S&P and in the Nasdaq. But it has not triggered a trade for us yet. So, that's one of the things to remember. If we don't have a reason to trade, we're not going to trade. That's the always the case. That's where the options come in and of course, don't forget starting Sunday night, there's a new gold contract that will trade 24/7 starting on Sunday. 24/7. Crude oil is next month at 24/7. So. Uh be aware. Not that you're going to do anything. Not that you trade 24/7, but the markets will will be open 24/7. So, right now, obviously there's nothing for us to do other than watch. And we'll do that. And like I said, if you have questions, always a good time to to ask questions if you have them. I'm certainly here to help and do what I can best for you. But we have But you've now been witnessing uh the uh earning season and you've been witnessing that even though they've beat on earnings, the stocks have getting smashed. Which tells you that the expectations were too high. Okay? And now we'll see if that continues. Obviously, we have a big week next week with Apple and Amazon and Meta and others. Uh so, but uh right now so so far doesn't look so good. Okay? So, it's just something for you to keep in mind. And again, if you have questions, feel free. I'm here. Willing to answer. But they're taking them down, but they're not taking them down fast enough to trigger an opportunity for us to make a trade. Okay? So, that's always the issue uh that we need we need the speed and the velocity to create the fear and the panic you know, or the FOMO so that we can participate. But so far nothing. And we never did get a trading crew either, unfortunately. Hm. Well, what can I tell you? It is what it is. We'll sit here and be patient. That's the the biggest key I can teach you is to be patient and wait for your opportunities. Uh and learn how to create Uh we're going to start working on how to create some options trades, too. How to create synthetic calls and synthetic puts so you can actually buy them cheaper. Your risk is a little bit higher, but you take out the time decay risk and you take and you you profit faster. So, we will start working that on that in the next week or so as well. Um but as we as we look here, not a lot going on, but we'll give it another minute or two and see. Uh and again, if you if you have questions, please feel free. And anybody who's interested in coming to my options class on Saturday, send me an email at bub@bubbatrading.com or my Monday night call, same place, just send me an email and I can send you a link. You can come and see what we're talking about and what I'm doing with all the members. You can come as my guest. And remember, if you're not using Trader, you should be cuz it's the best deal in town. So, make sure you take a look at that. So, in the meantime, nothing's going to trigger. We got two trades, a Google put spread and a Tesla put spread, and uh everybody have a uh great weekend. And we'll see you back here on uh on Tuesday. And remember, the market 120 every day. Take care, everybody. Have a great weekend. You know how the financial world goes. Here comes the buzzkill. Please make sure to take some time to read this boring disclaimer. We will owe you one. Hey.