Wall Street Unplugged
Episode: 1146June 5, 2024

Should Roaring Kitty be investigated for insider trading?

Inside this episode:
  • Check out this video from Frank’s trip [1:35]
  • OPEC is cutting production—so why are oil prices falling? [2:16]
  • Why you shouldn’t worry about an imminent recession [10:20]
  • The pullback in oil is a gift to investors [12:59]
  • Pay close attention to rate cut expectations [14:01]
  • Mark Cuban doesn’t understand inflation [17:16]
  • Should Roaring Kitty be investigated for insider trading? [21:19]
  • A rare shoutout to Senator Elizabeth Warren [26:35] 
  • What Berkshire’s “100% drop” tells us about AI [28:18]
Transcript

Wall Street Unplugged | 1146

Should Roaring Kitty be investigated for insider trading?

This transcript was automatically generated.

0:00:02 – Announcer

Wall Street Unplugged looks beyond the regular headlines heard on mainstream financial media to bring you unscripted interviews and breaking commentary direct from Wall Street right to you on Main Street.

Daniel Creech

How’s it going out there? It’s Wednesday, june 5th, and you’re listening to the Wall Street Unplugged podcast, where normally Frank Curzio breaks down the markets and tell you what’s really moving the markets. But don’t adjust your listening device. No major air here. Frank is on the road. I’ll show you in just a moment his X feed, but he is playing soldiers, leaving me Daniel Creech behind the mic to cover for him, and I am grateful to have the opportunity. So, research analyst here at Curzio Research, I’m the one that gets to work alongside behind and for the one and only Frank Curzio.

Today, on Wall Street Unplugged, OPEC takes a page out of Jerome Powell’s book and gets data dependent. Roaring Kitty is upsetting everybody on Wall Street. Should he be banned from trading platforms and investigated for market manipulation? And did you make the greatest trade and or investment ever and buy Berkshire at a 99% discount? Yes, 99 problems, but Berkshire ain’t one. All right, check this out, as Frank is on the road. This is on his ex-feed, formerly known as Twitter, just yesterday. I don’t want to give too much away or get out of bounds here, because I’m not exactly sure what’s going on. Other than you can see, this gentleman is very, very talented. I’m not even going to hint. If you’re not watching on YouTube and or streaming, do so to figure out what the post is that Frank has shared yesterday. And be sure and check him out at Frank Curzio. That’s right, at Frank Curzio. Like him, share him, comment to him, get our followers up and help build the network. All righty, let’s see here.

Opec had one of its big meetings recently, over the weekend, and they extended production cuts. Let me fill you in with a little bit here. This is from oilpricecom. A few days ago, brent crude went down by 3%, even though OPEC agreed to continue its voluntary cuts to 2025. Continue its voluntary cuts to 2025. Now some people took this as bearish because they are going to build back or add some of this voluntary cuts back in over time, and the market took that as well. You know they’re not going to hold steady, they’re not going to hold the line and therefore that’s going to put downward pressure on prices. But you got to listen to this because this is right out of Powell’s page. This is a quote reported on by Reuters from Saudi Arabia’s energy minister Bear with me here Abdullah Ziz bin Salman. He says we are waiting for interest rates to come down and a better trajectory when it comes to economic growth, not pockets of growth here and there.

An analyst head of global commodity strategy at RBC Capital Markets, Helena Croft, said some people read the OPEC statement, particularly the part about adding barrels back from the voluntary cuts as bearish Oil prices responded in a downward spiral due to the fact that the majority of total cuts from both categories, that’s, OPEC and OPEC Plus members, come from a voluntary scheme. Total cuts are about three spot six, six million barrels per day, while 2.2 million barrels a day of that is accounting for voluntary cuts. Day of that is accounting for voluntary cuts. They were pretty clear and this is also from Croft Global Commodity Strategy at RBC. They were pretty clear that this is going to be data dependent, data dependent.

Where have you heard that before? Well, good old Fed Chair Powell himself is going to be data dependent, the Fed’s data dependent. We’re looking at data dependent. We’ve got to see more data. We want to see this data go in the right direction for data and months and months and months data, data, data. If you were playing a drinking game with that, you would be absolutely soused right now. Don’t do that. It’s still early in the morning. You got to have a rule to when to start drinking whether it’s 10 am or noon or 3.30, whatever.

Have a plan and stick to it, just like trading. They were pretty clear that this is going to be data dependent. As we get to the end of August if the fundamental picture looks worse than what we have now, they would pause that addition. We’ll do a quick check here over on oil prices. This is from CNBC. This is a yearly chart of oil. You can see it was under $70 a year ago bouncing around. You can see it was under $70 a year ago bouncing around. It went up to $90 here at September. Looking at a chart from year to date, it rallied. But look at this Since April oil prices are down over 14 or 14-ish percent from the 85 price per barrel mark.

Now, regular listeners know that I, Daniel Creech, am extremely bullish on energy and I think everybody should have exposure to the sector of energy natural gas, uranium, et cetera and I’m not anti-clean energy or wind and solar or anything. I just think that the projections that they’re telling us and the money being spent on that isn’t going to come to fruition. It’s not going to meet the goals that we’re being told now and if I’m right about that, if production delays or manufacturing delays or anything, which I’ll go into more detail tomorrow. On Wall Street Unplugged Premium for all you paying subscribers, I’ll be on that as well. Solo Be sure to check that out tomorrow. I believe that any hiccups or delays on those kind of projects doesn’t mean that energy demand is going to slow down and therefore something’s going to have to replace that energy, and that’s going to be good old fossil fuels, whether it be oil and gas right now.

What’s wild with the market reaction to data is we’ve had we had a lower private jobs market ADP report today. Lower jobs added than expected, around the 150 versus 175. The economy’s slowing. We’re going into this recession. What if we don’t hit this soft landing that the Fed’s trying to steer us in?

You could look at it from the other angle and say well, that’s bullish, because if the market is slowing and not tanking, that goes in with the soft landing narrative and allow the Fed to ease into rate cuts, like the Bank of Canada did, as expected.

They expect the European Central Bank to start cutting rates and then the race is on, as they say, which is not a shocker. Why, in my opinion, bitcoin and other such assets are rallying, in that Now there’s always some geopolitical and political senses to the price of oil and right now, if you look at the oil price, which again I’ll bring this back up, it’s just under about 73, 50. The spike to 85 had to be a little bit no doubt of the outbreaks and the ongoing war with Russia and Ukraine and the fear of escalation between Israel and Hamas and I’m not trying to make light of loss of life and war. I you know my personal belief. I I hate all of that and I I would love to see peace love to see peace months ago, years ago, however you want to phrase that in the nicest way.

But looking at it from an economical standpoint, clearly there’s not a lot of geopolitical risk right now in the price of oil as it’s under $75, down from $85, and well down from over $100 when Russia invaded Ukraine. So that is a net positive. On the other side of that, you have the politicalization with and I’m not taking sides here. I’ll get to more of why. You just need to think, not how to think about politics and economics in a moment. But President Biden is definitely playing politics, as every president has, with releasing strategic petroleum reserves to offset or lower the price of oil. And they did come out on the 3rd, just a couple days ago, and they said they have awarded contracts to acquire 3 million barrels to add back to the strategic petroleum reserve. So as prices go down that’s a good idea you want to release it when prices are high to push them lower, and then you want to buy back or stock up the reserves as prices drop. We also had a week or so ago the Biden administration is releasing gallon gasoline into the market to help push prices lower on gasoline. I’m not saying that’s already taken effect down here in North Florida. The price of oil dropping has to have that effect. It is a lagging time. I don’t have to tell you, consumers, or myself anything that the price of oil goes up, gas seems to go right along with it. The price of oil goes down. Gas doesn’t drop near as fast. But the price of gasoline is down here around where I am in North Florida and that’s encouraging. That definitely helps demand and economic continuation or spending.

It is an election year, so at what price, if? How low can oil go? Does it go down to 65? Does it go down to $60 a barrel? It very well could. Anything can happen. I don’t think it’s going to go down to 65? Does it go down to $60 a barrel? It very well could. Anything can happen. I don’t think it’s going to go down to 60, but it wouldn’t shock me to continue falling to around the 65 before it starts reversing higher. And why do I think it’ll reverse higher? Well, because you’re always going to have these escalations in this geopolitical sense of what’s going on between wars and such like that, and unfortunately I don’t get to pick how the world plays out, and those wars are not ending anytime soon. In fact, I hate to say it, but I would think they were going to escalate from here, not deescalate. That would help drive the price of crude up, unless we have a full-blown recession, which I don’t believe is in the cards.

And the easiest way and the biggest reason the elephant gorilla in the room and why Daniel Creech doesn’t think we’re going off a cliff economically is because deficits are too damn high. It’s very difficult to have an economic recession, especially on paper, when you have trillion and a half that’s 1.5, or higher deficits. And we have had those for consecutive, consecutive years and that is not slowing down. That is not a Republican or Democrat thing. They both abuse that and do that, and that is terrible. And that kind of inflationary ideas are only going to help either find a base in crude and or put upward pressures on that.

Another thing with the crude oil is if you’re worried about equities or oil companies and yes, a lot of them have pulled back along with the price, but they’re not just going to sit on their hands, they’re going to manage the environment they’re in. And what do I mean by that? Well, you can curtail or cut back on some production, notice. And as Frank and I talked about in last week’s podcast, with all the mergers and buyouts taking place in the oil patch, these companies are so solid, have such solid balance sheets, they’re in such great financial positions. They do dividends, and flexible dividends based on cash flows. They continue to reinvest, they are much stronger, a lot less debt or low interest debt, able to pay that off and just like a huge natural gas, which is a volatile commodity in and of itself. Just check the price of that thing you look at. The largest US producer for natural gas is EQT. Curzio Research Advisory recommendation. They have already taken steps to kind of curtail or cut some production and so these companies are going to manage.

It’s not just going to be drill, baby drill, as politicians like to say at times to really help plunge the price of oil. I know us consumers would love to have $25 barrel. The odd thing is is that, just like with ConocoPhillips and Marathon Oil last week in their announcement, a lot of that oil is now profitable at $30-ish per barrel. So my point is is that do not get caught up in the psychological or the charts of just looking at prices of oil going down. Yes, that’s good for us consumers and I’m not saying I want oil at $100. I absolutely don’t.

Don’t hear what I’m not saying. I’m simply saying if the pullback in oil causes you to get nervous and or upset about oil stocks, oil and gas or energy stocks, I would just say, hey, have a solid conversation with yourself. Maybe you have too much exposure, maybe you’re a little overweight, but don’t just run from this industry, because this is actually a gift. You want to look at building the best and solid positions in the energy sectors, because this is a much longer story than our instant gratification or satisfaction that we live in, and I’m guilty of that too. Everybody wants to get rich tonight, everybody wants to have problems over tomorrow, and I am a victim of that as well. I’m simply saying do not let this plunge in oil prices or even this whipsawing of oil prices after OPEC and all this extends cuts shake you on what is going on in the oil patch. There’s still a lot there Now. Oil is the heartbeat of everything and that’s one of the reasons I’m so passionate about it and I want to share. It’s such a big part of the economy and just how OPEC is going to be data dependent and wait on interest rates to be lower and more growth to be subsound.

This is from yesterday and this is just from briefingcom and I want you to look at this. This is rate cut expectations after the April jolts and then obviously today these are going to change a little bit more with ADP reporting. But the probability for next week’s June Fed meeting is zero. All right, zero percent. That was down from one and a half percent two days ago. Zero is not even a chance. So you’re telling me there’s a chance is a good line in Dumb and Dumber. Not even a chance for this week’s, next week’s excuse me, this month’s FOMC meeting. What’s interesting to me is the probability for 25 basis coins. Basis point cuts for the July meeting went up slightly from two 16.5% that was up from 15.7. The September meeting odds of a 25 basis point cut rose to 66.6, three sixes that’s up from 59.6% two days ago. Looking into November, the odds of a 25 basis point cut went up to 28.4% from 23.6% and then for Christmas in December, odds went up to 60.2% versus 53.4%. That is in addition to the Atlanta Fed GDP estimate for Q2 came out and it is now revised down to be about 1.8%, down from 2.7% just on May 31st.

Why do I say all this in numbers? I know they can be difficult. Because you want to pay attention to the rate cut expectations, because if these really start to go downward, that’s going to put pressure on market indices. And yes, I know that doesn’t mean that the Magnificent 7 or just NVIDIA by itself aren’t going to continue propping up the S&P 500 or the NASDAQ. But if you don’t own those stocks, a lot of those stocks are going to be seen or come under more pressure. If these rate odds continue to go higher as they just have over the last couple days, and now you have other central banks starting to cut, that will actually be a tailwind or a boost. So you want to pay attention to these rate cut odds there.

And don’t forget demand for energy outside of recession is not going anywhere because you have the AI boom that’s still in the infant stages. Early innings, as Frank says, we’re not even out of the first inning. I’m no baseball guy, but there’s nine innings in a baseball game and if we’re not even out of the first one, we have a long way to go. Nvidia is still putting up impressive results, even Hewlett Packard and Dell. I know Dell pulled way back after their earnings, but they have been on a solid run. And don’t worry. And remember Bitcoin it’s still doing well. And remember the stories about Bitcoin is going to consume all the world’s energy just a few years ago, and yada, yada, yada. And now AI we don’t have enough power to meet all the demand there. Don’t bet against capitalism in that sense. So prices just don’t have to go through the roof on energy. But for you to be a solid investor in energy and make money over any length of time, they just don’t have to collapse. And barring a recession and again with our, the way they’re spending and going to continue to spend, that is not in the cards anytime soon.

One last thing on inflation and the economy and all that kind of stuff, and this is a little bit of a this is a little bit of a rabbit trail. So we’re on the energy highway here. We’re going to take an exit off, because I want to read to you a back and forth on Twitter, and this is between Colin Rugg and Mark Cuban. I’m not really sure who Colin Rugg is. He posts a lot, he’s got a lot of good info, and then Mark Cuban is the owner of the Dallas Mavericks, and the reason I’m saying this is because this goes in with inflation and expectations and government influence. So the deficits are huge, influencing stock markets and things like the minimum wage. So Colin Rugg posts just in beloved restaurant Rubio’s Coastal Grill is closing 48 locations in California due to the inflation and minimum wage increase.

And he takes a stab here and says don’t worry folks, the economy has never been better. Biden and Mark Cuban said so. That’s what spurred the response from Mark Cuban. And he points out that California Governor Gavin Newsom signed a law that increased minimum wage for fast food workers from 16 to 20. The closings are about how you know. You just have to plan for strategic. You can get the idea there Now. So he was taking a shot there.

And Mr Cuban responds and said Colin, let me give you a different point of view. When someone is not paid enough to live, they use more government services housing, care, food, et cetera. I can’t tell you what the equilibrium is for minimum wage or for any given state. What I can tell you, what the equilibrium is for minimum wage or for any given state. What I can tell you is when companies pay less than what someone needs to live a basic life, it’s often the taxpayers and subsidize the difference. Do you really want to subsidize with your tax dollars any employer? And he makes some good points there and he says hey, I didn’t take any PPP money from COVID. I’ve been given all my employees raises over the last couple of years. He doesn’t want tax dollars, like Collins or anybody else’s, to subsidize his employees. He says the other thing about increasing the minimum wage again, in my opinion, is everyone else faces the same rules. Their costs go up in the same manner.

He’s talking about inflation there. Be the better entrepreneur in your segment and your business will be just fine. Now the back and forth there. I’m one for dialogue and back and forth. I think everybody ought to have a voice and share their voice.

My big problem there with both Colin and Mark Cuban and again I know I’m taking this one tweet or post on X the big problem that I have with that is that it’s totally missing the mark about why inflation is going higher and why inflation is making it impossible to live on. This quote unquote whatever standard wage you want to talk about, and that’s the real heart of the matter. And the point is it’s good for views and tweets and I’m talking about it and fun comments back and forth, and you can. You know, somebody I no doubt on there probably just says, ah, the Mavs suck and I hope you lose in the finals of the NBA. That’s fine, totally off topic.

My point is is that that, back and forth, I wish Colin and or Mark Cuban would have said hey, you know why inflation is out of control and why it’s the highest in 30 some years? And yes, it’s trending lower, but that’s after it was 9%. It’s because of government meddling and out of control spending and the fact that we printed money out of thin air, injected it into the economy, gave it to people’s hands. Now we have more money chasing goods in the economy and that is inflationary. And that kind of a spill, that kind of a dump, takes a long time to work its way through the system and unfortunately we show no signs of slowing down. Yeah, we’ve cut sending checks off to the individuals, but we haven’t laxed checks off to the individuals, but we haven’t laxed the overspending in deficits in the economy and that is all inflationary and that’s what drives me absolutely insane. So the back and forth on Twitter is one thing and it’s good enough to start a conversation, but it totally misses the mark on the actual effect. And if you don’t actually change or talk about what’s causing the inflation, like government printing and handing out money and doing all that, then we’re never going to get anywhere other than just this back and forth. So hopefully that makes Kitty All right.

Topic number two here I have no doubt you guys have seen the whipsawing action. Let me pull up a chart of GameStop Corporation here. This is a. I tell you what, as far as charts go, I’ve said. This is a beautiful chart here. It goes from the bottom left to the upper right. It’s making money. This is the exact opposite. Gme, gamestop Corporation. This is the absolute ugliest, goofiest looking chart. This is a yearly chart. Here on FinViz, it was basically dead money bouncing between 10 and 15 for a year and then wham, roaring kitty comes out with a post, doesn’t even say anything, just post. And you can see here on the chart I have a spike from 15 up to 65, back to under 20, up to 40, blah, blah, blah, blah. Up to 65, back to under 20, up to 40, blah, blah, blah, blah. What I want to talk about here is and I would love your feedback here and we can post on this and such.

So you have everybody from short sellers and Citron Research Well, I don’t know how much he does anymore. He kind of called that off, but you have, I read and take everything with a pound of salt on the internet. A Massachusetts wing or regulatory body was going to investigate this roaring kitty for his trades. You have Gary Gensler, aka Elmer Fudd, out there talking about how he wasn’t going to comment on GameStop specifically, but everybody, you know nobody’s allowed to trade on insider information and he just kind of took the normal. Um, he didn’t really say anything, you know he, he tried to take the high road, the political high road, mind you, and that’s that’s pretty ridiculous he commented on. So we don’t know if the SEC is going to look after this. You have some famed wonderful investors that I follow on X that are kind of out with his claws, and that’s a good thing. Like I said, you see this dialogue back and forth.

My point is, and what I want to ask you guys is does it feel like it’s fair between the bigger institutions and the individual investors? And I could draw a comparison here with the same concept, with we have a recent conviction of President Trump and then other politicians. And I want to ask something here, and I’m being dead dead serious whether you voted for, plan to vote for President Trump, whether you like him or don’t like him, whether you agree with him or disagree with him, do you think that President Trump is being investigated to the same extent as everybody else in politics? And there is no clean person there in the sense of? I’m not saying they’re all guilty of anything, but my point is that there’s a lot of rumors, allegations out there, with our current president, with past presidents doing this or that wrong. You can look at Clinton’s, you can look at the Bush’s, you can look at anybody you want to. Do you feel that the investigations and such are the same for every politician or do you think Trump is getting more or less of that? And again, I’m not telling you how to think, I’m just telling you to think about that.

Because, moving it back to GameStop, you have and you’ve seen a lot of things on X, point this out. You have and you’ve seen a lot of things on X, point this out you know, cnbc and other broadcasting networks bring on popular short sellers to come in, who already have their ducks in a row, their trades on and they get this window of opportunity to say, hey, this XYZ company is terrible, it could even be fraudulent, and there are so many accounting questions and there are so many backroom deals and what we discovered and we talked with former employees and we got all this research and just go to this website and check this out. Meanwhile, it’s a sell first, ask questions later market, and we’ve seen this go after all kinds from big companies like Tesla a couple of years ago and nonstop to smaller companies and and I’m not saying anything negative about that, again, I’m all over, all for dialogue and stuff. But you come to this roaring kitty guy who is simply posting on the internet and evidently this list latest thing is he posts his shares and his option contracts that he has, and that is just such a whirlwind. And again, contracts that he has, and that is just such a whirlwind. And again, if he is being investigated and it was rumored or reported that E-Trade was thinking about kicking him off the platform for these actions and market manipulation, do you think that Roaring Kitty is getting the same treatment as everybody else? And you might say, well, Mr. Creech, who is everybody else? I don’t see anybody else moving stocks like this.

Well, what about the Fed governors in Boston and Dallas that resigned over insider allegations during COVID? Now, I’m very rarely do I find myself agreeing with Senator Elizabeth Warren. Very rarely do I find myself agreeing with Senator Elizabeth Warren, but she’s even called out and said hey, her quote was asking the Fed about its investigations of its former members and she says you’ve had a year and a half. This was in the Senate Banking Subcommittee and she was ranting and raving and this is not strong oversight. In fact, it’s not even competent oversight. And her point was listen, you’ve had over a year to do this investigation. Fed Chair Powell was even you know there was nothing there with a trust or something that he was tied to.

My point is is that, do you think that, like I asked about Trump and other politicians, is the reaction and possible investigations over this roaring kitty? Is that the same as your politicians in the Senate and the House trading around COVID when they’re making policies, or these Fed governors trading around while they’re making coronavirus policies? Again, I’m not telling you to think. I’m not saying it is or it isn’t. I’m simply telling you to sit back and think about that, and it’s not a Republican or Democrat thing. It’s a big institution and or, higher up the ladder, leaders versus the lower half, and that is a nerve wracking item that needs to be talked about more openly, in this guy’s opinion. Now, I do think that it would be wild for E-Trade to kick them off the platform, because I would think you would use that to attract more users, et cetera, et cetera. But hey, they can do what they want. It’s a free world. But just a few big things to think about.

And finally, let’s get to old Berkshire. Now. We recommended Berkshire in Curzio Research Advisory. We obviously did the B shares, since the A shares are trading for $613,000-ish right now, but just yesterday or the day before and I’m going to pull up a screenshot here that I took because there was a glitch, and this is from Bloomberg automation. All right now I’m going to have some fun here, because, with all the buzz around ai, if anybody’s worried about the terminator and the end of human civilization because of ai, and you got all these big wigs in tech warning about the race for AI dominance and it’s going to end humanity, and even Elon Musk who’s saying, hey, it’s going to take all jobs and jobs could be a hobby soon. This is from Bloomberg Automation.

Berkshire Hathaway declined 100% most in at least 36 years. Most in at least 36 years At least 36 years. Berkshire Hathaway fell 100%. The stock reversed previous session’s gain. Well, I would understand that. The shares declined to $185.10 from $627,400. Again, this is from yesterday. The stock was the worst performer among its peers. Well, hell, I’d hope so. Bloomberg Automation. The Russell 3,000 full line insurance sector fell 0.4%, while the Russell 3,000 gained 0.4%.

The point there is that I’m having and you guys should all have a raised glass and a smile on your face is that this algorithm and automation and AI and all that is just pulling out what information is going on and it reports it just like it’s gospel, like hey, check it out. Berkshire Hathaway dropped from $600,000 down to 185. Now, along with the pound of salt, you should take on everything on the internet. I was reading through some X feeds and one gentleman is claiming that they tried to buy Berkshire as it collapsed under $200 and it got filled. But it got filled at over 600,000 when the trading platforms and the boards. The glitch was fixed. Now that opens up a can of worms because and again I’d love your feedback, think about this Daniel@CurzioResearchcom.

If a glitch happens and the exchanges screw up and the prices go down, what if somebody panics sells? Do they get their money back? Is the trade canceled? Now I know zero or nobody that really worried. If they checked and saw Berkshire Hathaway was down to $185, the A shares, I doubt if anybody really thought other than something funky was going on. But if you did get filled now this gentleman was saying that it turned into a market order from a limit order so then it got filled at the $600,000 and you didn’t have the money to cover it. You can’t have margin and all that why doesn’t that all just get erased or canceled? If it doesn’t Now I’m sure that things will work it out.

But that just shows you the screwiness in markets and it comes back to the fact that you have to get comfortable. In my opinion, you have to get comfortable with a certain level of crazy that we live in. I like to describe our world as a mix between Willy Wonka and the Wizard of Oz because, as I talked about earlier, with inflation and money printing and all kinds of things, and it just odd to me. So if you did somehow get filled with Berkshire A anywhere near, you know, on anything, drop congratulations. If I had a hat on, I would tip it to you. I just think that that’s hilarious and I wanted to have some fun with these squee-squee markets. Like Elmer Fudd would say in the great Looney Tunes All right, everybody.

Hey, I hope you guys enjoyed this podcast. Send me your feedback, good or bad. Daniel@curzioresearch.com.

Daniel@curzioresearch.com, we like to talk about the energy and oil patch, what they’re doing, have some fun with Roaring Kitty and want to know if you got to buy Berkshire at rock bottom prices because you’re already up. I can’t even do the math, but that’s a better trade than Bitcoin, which I’ll talk a little bit more about tomorrow. We’ve got some interesting comments from Fidelity on Bitcoin and the asset class and much, much more. Have a wonderful, wonderful week. We’ll see you again here next Wednesday. Cheers.

0:32:51 – Frank

Love this episode of Wall Street Unplugged. I think you’ll really love Wall Street Unplugged Premium. The Wall Street Unplugged Premium is my members-only podcast where I dive even deeper into this week’s events. Well, I’ll do even more than tell you what’s moving these markets. I’ll tell you specifically what moves you can make today. So this is going to be about trading. Put big money in your pocket right away due to the inconsistencies I see daily in the market.

I’m talking about specific investment ideas. I’m recommending and tracking each week that I believe will be impacted directly by everything I just talked about today. Plus, you’re going to get the chance to go even further down the rabbit hole with me and my co-host, who’s Daniel Creech, as we discuss which of these week’s trends could turn into massive windfalls the big trends that we see lurking on the horizon. Also, the news we’re picking up from our network of insiders, which has gotten bigger and bigger thanks to you and so many people listening to this podcast in over 100 countries. You’ll get a chance to talk to me directly in my special Ask Me Anything Q&A session. All that and a lot more like premium interviews with world leaders in finance, technology, industry and politics.

This is all part of Wall Street Unplugged Premium, and becoming a member is super simple and super cheap, so head on over to WSUOffer.com to check it all out.

Sign up today and you won’t miss a thing. That’s WSUOffer.com.

0:34:19 – Announcer

Wall Street Unplugged is produced by Curzio Research, one of the most respected financial media companies in the industry. The information presented on Wall Street Unplugged is the opinion of its host and guests. You should not base your investment decisions solely on this broadcast. Remember, it’s your money and your responsibility.

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Will Biden veto the crypto bill?

Are Target and Autozone buys on their pullbacks? … Don't be fooled by Lowe's earnings beat… Avoid this dangerous cybersecurity stock… And will Biden follow through on his crypto bill veto?

Meme stocks are back! [My picks]

Don't trust the headlines about the CPI… Biden is a hypocrite about tariffs… Dimon's imminent warning… Don't believe these lies about gold… Bitcoin's next bull market? … Meme stocks are back… And these highly shorted stocks are poised to skyrocket.

This popular uranium stock will go to $0

The uranium bull market is just beginning… How AI is driving uranium demand… One popular uranium stock to avoid… And two investments to play uranium's upside. Plus, a stock to buy instead of Disney… And this "AI" favorite is faltering.

Why is Tesla surging—despite terrible earnings?

Tesla’s earnings were a disaster—so why is it soaring? … Why gold bugs are dead wrong… Why you should take profits in gold stocks… And the best speculative investment opportunity right now. Plus, join the next Crypto 2024 LIVE.

Bitcoin crashing

Why is crypto crashing?

Don't be alarmed by the crypto pullback… Rep. Maxine Waters is dead-wrong about big banks… Why Trump should be allowed to campaign… And this company's earnings paint a scary picture of the economy. Plus, join our next Crypto 2024 LIVE.