00:00Let's talk some IBM, another, you know, you can put IBM and Boeing in a similar category
00:05of just stocks that, well, actually, no, IBM's been crushing it recently.
00:11IBM is trading lower this morning, down three and a half percent after the company reported
00:18earnings yesterday.
00:19The EPS came in at $2.30, the consensus was $2.23.
00:25New came in at $14.97 billion, missed by $110 million there.
00:30So IBM taking a slight hit this morning, down about $8.
00:37Joel, are you still in this stock?
00:40No.
00:41IBM?
00:42I'm thinking of Intel.
00:43You're in Intel, right?
00:44Yeah.
00:45Yeah, me and Joel haven't been in IBM for a while there.
00:48We're both stuck in Intel.
00:49I know.
00:50Bag holder Intel.
00:52As much as my long-term portfolio is making new all-time highs, I tell you, Intel is not
00:56helping it whatsoever.
00:57Intel's been a disaster.
00:58IBM would have helped it.
00:59I had the rant yesterday because I had this damn stock at $130, and then I got spooked
01:05out and sold it at $140, and here it is, $232.
01:08We got to go with the Joel Alcon never sell thesis.
01:10So we need to be more like Joel Alcon because he holds.
01:13Yeah.
01:14I got some bruises to prove that.
01:16Dennis, were you trading this one after hours?
01:22Yeah.
01:23I thought about buying it when it got under $220.
01:26It was $219 offer, and I was like, they'd probably bounce this back.
01:30And I really thought about buying it, but I was busy.
01:32I was trading Tesla a little bit.
01:34There was a lot of action last night.
01:36There was quite a bit going on actually, and I was like, IBM would have required a lot
01:39of babysitting.
01:40And I was even trading Tesla too, so that required babysitting.
01:43So I'm like, ah, it was day trading Tesla.
01:47A little lesson here.
01:48Okay.
01:49Yeah.
01:51So, CB and Dennis, Dennis better get the answer.
01:54So let's say we're at the Bright office.
01:58Okay.
01:59And you're sitting in your little corner there.
02:02And we're trading IBM earnings.
02:04Okay.
02:05Or, you know, you're at your desk and you're trading, and I don't care anything about the
02:11earnings.
02:12What would I yell out just immediately after seeing the price?
02:18What would I say to you?
02:20So Joel did this for us every morning.
02:22He is so good.
02:23He would give us this sheet and add the S&P futures with all the levels and all the stars.
02:28And he'd even give us the big stocks for the day and have all the levels and all the stars.
02:32He would have 10-starred that 216 level.
02:35He would have 10-starred that 216 level because he's got the double bottom.
02:39Yeah, the 216 is harder to pick.
02:40There was something easier though, an easier trade than the 216.
02:44Easier one.
02:45Much easier trade.
02:46I see a double bottom 216.
02:47Where was it?
02:49No, no.
02:50See, Dennis, I'm a little disappointed.
02:51Okay.
02:52215.
02:5378.
02:54215.
02:55No!
02:56You're, you're, you're.
02:57AB?
02:58Okay.
02:59This is your chance for redemption.
03:00A level?
03:01Yeah.
03:02A level.
03:03Or what would I yell out?
03:04230.
03:05You die!
03:06AB!
03:07Look at that thing.
03:08Dennis, when that went through 230, I don't know where the next bid was.
03:13There was no bids.
03:15You can't get that far.
03:16That's the problem, Joel.
03:17It's not like you're going to be able to come in and sell 230.
03:26The algos sweep out everything.
03:28When they come in, and I could probably find the tape just to show you, and I could tweet
03:32it out if you want.
03:33When the algos come in, they, like, they see that stock is instantaneously down.
03:38So it's like here, and you think, oh, I'm just going to go like this.
03:41Like old school days, it's missed, and you could hit this bid, hit this bid, hit this
03:44bid, hit this bid.
03:45As a human trader, you could, like, be all over the price discovery process.
03:49Now you can't.
03:50It's, like, here, and now it's here.
03:52So now you can analyze from, at this point in time, what do I do?
03:55And that's why I was showing the 216.
03:56I like that.
03:57There's a double bottom there, and look where it bottoms.
04:00Right around that area.
04:01215 to 216.
04:02Yeah, okay.
04:03Right around there.
04:04So I learned from your levels.
04:05Okay.
04:06I love you guys.
04:07I was just looking at different levels.
04:08AB, you're out of the doghouse.
04:09Triple D, you're permanently in the doghouse.
04:15I love you guys.
04:16I love you.
04:17I love you.
04:18I love you.
04:19I love you.
04:20I love you.
04:21I love you.
04:22I love you.
04:23I love you.
04:24I love you.
04:25I love you.
04:26I love you.
04:27I love you.
04:28I love you.
04:29I love you.
04:30I love you.
04:31I love you.
04:32I love you.
04:33I love you.
04:34I love you.
04:35I love you.
04:36I love you.
04:37I love you.
04:38I love you.
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04:40I love you.
04:41I love you.
04:42I love you.
04:43I love you.
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