why i just sold out

everyone kevin here so this market has

been absolutely wild and insane and it

is just not giving up it has been kind

of fun

but i also hate investing when things

are feeling euphoric and so i have

decided to take some profits so so far

year to date and i think this is pretty

great this is uh my buy and huddle

portfolio is up 40.84 percent uh that's

that's all right you know could be

better uh this is my my weeble account

this is where i do more of my trading

you can see the green line there was a

little much certainly much more volatile

than something like the dow or the s p

but that's because i bought a ton of

options which didn't do too hot in may

which i bought in april but it have

since skyrocketed and uh i do a lot of

options trading on my weeble and of

course anytime i send a buy or sell

alert uh i send that out to everyone in

the stocks and psychology and money

group which you can see the trading

printing profit and loss here on weebles

about 2.4 million this is the smaller

account that's on on weibull most of my

money is in buy and huddle accounts

whether it's td ameritrade jp morgan uh

buying huddles and robin hood whatever

uh okay so

i did just sell uh a chunk and the

easiest way to kind of start with this

is just breaking down an update to my

cash position

right now my cash position is here there

we go so uh the green at the bottom

there i've got 5.5

million dollars ready to go shopping now

some of that might end up going into

real estate or some other purchases

towards the end of the year here but i

have been taking profits where i can

i've also been limiting my exposure to

some positions where i'm slightly down

and i'll talk about those positions in

just a moment so i'm at about 16.5

percent cash that's about double the

cash cash cash geez i can't talk today

cash position that i had last uh last

week and that's mostly because i

continue to see euphoria in the market

that i'm not a big fan of investing into

and i'm also starting to see some trends

that are a little bit more concerning

i'm going to talk about those broadly

and i'm going to talk about specific

stocks so broadly take a look at this

okay this right here

is the s p

500 spy

etf outflows and inflows and what you

can see is we've actually last week this

is a weekly measure

last week we had the most

outflows out of the s p 500 via spy

ticker spy that we've had basically

since april

over here was april where we had larger

outflows and that was about the fourth

week of april and we just had the

largest amount of outflows

and to me it's a little bit of a sign

that potentially

investors are finally recognizing this

market has gotten a little bit frothy

and it might be time to take at least

some profits now a sector that i'm

particularly watching right now is the

behavior in the

fintech and payment processing space so

take a look at this so here's weeble

this is tesla tesla had a pretty

interesting kind of sell-off today i'm

going to talk about something i did with

tesla stock as well today but

uh what i want to show you is i want to

start with something like visa

mastercard and get into some of the

fintechs so look at visa this is the

visa day chart we really peaked out

around july 28 for payment processing

which is really odd especially since

we're going into a period of time where

consumers have uh all-time highs of

confidence we're going into this period

where we know we hit we're going to have

jerome powell longer which is a

potential sign that we're we're going to

have

supportive monetary policy longer going

forward we do have a lot of coming

catalysts of news this week but it's

mostly just data we're going to have for

example personal income and spending

we're going to have the federal reserve

minutes coming out on wednesday durable

good orders trade orders consumer

sentiment we'll have earnings at some

companies like zoom best buy x-ping

motors gap nordstroms hp

autodesk

but

you've you've got some concerns that

maybe markets are a little bit frothy

and maybe supply chain issues are going

to last a lot longer than we expect

and who knows maybe even jerome powell's

uh re nomination could potentially stoke

fears of inflation again but anyway so

visa's payment processing uh

visa just in general here has really

gone from a high of about 256 here

recently to uh to about 198 which

for visa for a large company like this

to drop all of a sudden about 22 percent

is pretty remarkable but you're also

seeing that at a company like paypal

look at this paypal is sitting at 185

folks 185 divided by 310 you're down 40

percent from the high and you're

actually seeing today the fintech space

the fi

all of it really on fire like melting

look at robin hood all-time lows 27 45

and no signs of this fall stopping

redfin 42

it's going straight down which is also

in the real estate space and this is

despite i mean

i suppose you could say somewhat exposed

to financials uh i i'm not exactly sure

the correlation potentially between

redfin and financials here so maybe i'll

just shelf that and just stop talking

about it but anyway look at some of the

other financials first of all i bagged

on insurtech this weekend but don't

blame me for causing this sell-off i

mean hippo insurance is down 10

uh

you've got mq the credit card uh

processing company here down 9.8 percent

you've got backed holdings another

fintech here down 12 and it's already at

the bottom of its sort of momentum curve

here a firm down 11 here software

companies like cloudflare down 10

today a square down at

207 dollars i mean look at square's

chart here

we're about to hit may lows i mean we

are at may lows right now uh well again

main lows were about 192. we're almost

at may lows so far

way back down look at this we broke

right past that 19-ish support level

broke straight through that uh

and there's no sign of this downtrend

stopping down seven point seven nine

percent you've even got the miners

selling off here look at this matter

port this morning this is actually a

little surprising uh i uh i actually

sold a bunch of mad report this morning

that report this morning was up like six

percent now it's down six percent i mean

that's a twelve percent u-turn holy moly

uh lemonade insurance down five point

three percent these are uh etsy etsy was

up this morning we were almost at three

and look at that we hit

and one dollar for etsy and and now it's

that was up like five or six percent now

it's down five percent there's been a

massive

u-turn of sentiment here in the market

and it's mostly starting with financials

right now fintech and payment processors

and insure tech brokerages they are

getting destroyed and wrecked

at the same time people are drawing more

money out of the s p 500 than we've ever

seen since april

so it's no surprise that we're starting

to see some of these lows come back

right now we are still seeing somewhat

of uh enthusiasm in electric vehicles

and uh and charging companies but in

solar companies but honestly i have to

say solar edge was green today but i

don't see it in the green anymore yeah

look at that solar edge is down now so

all of a sudden you're starting to see a

little bit of a drawdown in solar

this could just be a temporary movement

here

but

you know in my opinion it uh it's a

little bit of a of a red flag warning

sign the market could finally be saying

you know what we're getting to the end

of the year it's time to potentially

take some profits and and recognize some

gains and set some money aside to

potentially buy the dip now don't get me

wrong i'm still very very long on this

market but uh i did i did do some

selling this morning uh i will go

through

some of my cells uh all of them are

obviously always posted and and i talk

about my theses in the stocks and

psychology of money group uh in our live

streams all the time remember folks if

you join the programs you get lifetime

access so there's a coupon code that

expires on friday uh you may as well

just join now it's not going to be any

cheaper between now and friday 11 59 pm

the price is going to go up after that

and last thing you want to do is wake up

saturday morning oh crap i forgot

consider it check it out look at the

bundle options as well it's the best

price you're going to get for the black

friday sale here and uh let me go

through some of the sales

that i did this morning which every time

i post to sell uh whether it's a buy

it's a sell i try to include a little

bit of a thesis as to what i'm doing why

i'm doing it and uh and my intentions is

it a trade is it long term what am i

doing why am i doing it and it's every

single time like i don't pick and choose

like if i make a trade and it turns out

to be a loser it's embarrassing but i'm

transparent so uh okay i closed some of

the sold puts that i had on amc just to

take a little bit of to raise that cash

and limit the potential of me having to

use that cash

i still have my long position in amc i

sold a thousand etsy uh let's see etsy

etsy i didn't time it all the way

perfectly at the top and i still have a

lot of etsy

so don't get me wrong but uh i did sell

etsy

we uh

sold etsy at a thousand shares of etsy

sold ten thousand shares of matterport

uh both of these higher than where it is

now at the time of this recording

neo

i

sold out of some options some call

options that i had on neo one of them

was profitable by about uh

20 30 000 one of them was down about 6k

so i really used it to free up cash like

for example uh even though i was up

thirty thousand dollars in one i was

down six thousand another here but it

would unlock a hundred and five thousand

dollars of market value uh selling it so

here i can actually show you that

screenshot right here here's that

screenshot of that that neo option that

was down is down 6k you know it's up

almost 16 000 on the day because neo had

a pretty pretty nice rally day here but

i'm now freeing up

uh 105 000 of cash and and so i'm

willing to do that especially since i'm

washing it out with with some of the the

other gains that i have

uh so uh then we've got uh some other

sales that i made i'm not gonna go

through all of them close some other

options some other positions some

smaller positions i did though get it

remember i got a signed tesla shares i

get assigned a bunch of tesla uh let me

go ahead and show you

tesla tesla uh here it is

okay let's go ahead and pull that up

here

okay so i got a signed uh tesla shares

because i bought tesla shares

uh i bought a thousand tesla shares

because i sold a put and then tesla fell

because thanks to elon musk

and i was able to break even on that

assignment which really worked out

because i didn't really want more

exposure to tesla but i sold a put i got

a credit i sold the put for 1225

you can see that there at the bottom

1225

10 contracts so worth about 1.2 million

dollars

uh then of course elon musk started

selling i got a signed uh so i was net

net in for about uh 1177 which you could

see on uh

if uh let's see here there we go on the

right side there average price 11.77 the

screenshot's showing up a little funky

let me try to show this a little

differently there we go if i do this i

think yeah that's much better

okay so uh i got a signed

so basically i sold a put promising

somebody had paid 12.25 i was doing

weekly sold puts because tesla was

basically on this euphoric rally and it

would have continued had it not been for

elon musk selling shares so whatever i

made money doing some uh some of these

before and i i was just milk and premium

it was great

and i was willing to buy extra tesla

shares but i didn't really want extra 10

000 or an extra 1000 tesla shares but

anyway so i got a signed 12.25 my net

cost was

11.77 tesla fell to like 980 i'm like

whatever i guess i'm diamond handing

these shares which is fine because i've

got a massive long position on tesla but

today tesla rallied up another like four

or five percent so as soon as it went

profitable these shares it was up about

eighty six hundred dollars i'm like yup

cha-ching i'm gonna ring the bell on

that take some profits and so even

though i ended up getting assigned to

put

i held on until uh until that one broke

uh slightly positive and uh

interestingly tesla's have been on a

little bit of a roller coaster today so

uh tesla is sitting right now uh at uh

about uh let's see i sold this at about

when tesla was sitting at uh 1180 tesla

right now sitting at a little bit of a

roller coaster uh tesla bouncing up from

its lows earlier take a look at this

tesla did fall to about 11 32 i sold

right around 1180 a lot it was somewhere

around here when did i make that

transaction 8 23 am

8 23 am here you go so tesla was at

about 11 85 when i closed that position

so you could see it it fell

substantially more after that it's

recovered fine it's volatile i don't

really care i diamond hand my long

position on that but for my trade

position i'm glad i was able to uh

rotate out of that free up some cash and

so that's where a bulk of the cash the

trading cash was that i was able to free

up so this is where i am now i'm at

about 16 cash i'm probably not going to

go more than 20 cash but i'm definitely

definitely looking for opportunities and

probably what i'm looking for in this

market right now is either a continued

sell-off in fintech which we may or may

not get you're getting a little bit of a

recovery right now in a firm it fell to

118. i've been watching it recover here

we could get a recovery i've still got a

long position in a firm and at cnn phase

my 85 of my portfolio i'm not touching

but i am interested in watching to see

if this trend continues if this trend

continues i will buy the dip

but i'm not ready to buy the dip yet

because i worry that the sectoral trend

potentially is just the beginning

so i don't know yet if if we've hit a

bottom i know intraday obviously we did

in the firm bottom at 118 but this is

going to be a trend that i'm going to

watch and i want to see if this fintech

sell-off ends up spilling over to energy

so far there's still a lot of enthusiasm

and energy and evs lots of that also

looking for potential sell-off in nvidia

but i've got a cash position i'll either

use it for a larger and substantial dip

and when i see that dip obviously i'm

going to be sending alerts in the stocks

psychology money group that here it is

this is this is where i think i'm happy

buying the dip and in my opinion that's

a way of trying to build your portfolio

to

get outsized returns when you're really

going in heavy when something has sold

off and so i'm looking for that

opportunity i don't think we're just

there yet it could be wrong and if i'm

wrong that we're not at a bottom yet

then then i'm 85 percent long and it's

okay

if uh if if we end up

going to lower levels

obviously the long positions won't be

very happy but that's okay i don't want

to pay too many taxes on all those long

positions so we're just going to keep

those diamond hand those but i'm going

to use this new

cash pile that i've been able to

generate through taking profits or

trimming positions that that i'm not as

enthusiastic about going into the end of

the year here and i'll wait for some

catalyst whether it's congress uh it's

drama over the bipartisan or not the

bipartisan infrastructure package that's

done the buildback better plan uh the

debt ceiling the government shutdown

whatever i expect we'll get through all

that just fine but if we can get some

drama that happens over the holidays

over the next few weeks here hey i'm

ready by the dip i'm excited so we'll

see what happens

folks thank you so much for watching

this video if you found it helpful

consider sharing it and we'll see in the

next one thanks again goodbye

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