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00:00 But man, was your head on a swivel last night or what?
00:04 It's the same swivel we continue to get. So it's the NVIDIA and SMCI story.
00:09 Last night, Loop comes out with the buy rating on NVIDIA. That came out just slightly after the bell.
00:15 $1,200 price target on the puppy and the stock started going up. And you know,
00:21 when NVIDIA starts going up, you know SMCI is going up. You also know when NVIDIA starts going up,
00:26 that IWM is going to start going down because it's IWM versus NVIDIA. That's the new pair
00:32 that you can see yesterday. NVIDIA having a little bit of a quiet day. Down in the day,
00:36 IWM ripping. Buy NVIDIA going up here today. They're like, "Oh, we're buying NVIDIA. We can't
00:41 be buying IWM. We better sell that thing." Now that might change with the PPI that's coming in a few
00:46 minutes, but let's just go to the SMCI before we do the NVIDIA technicals because this might be
00:51 the most one-sided trade that I've ever seen in my 25-year professional career of trading. 25 years
00:58 I've been trading professionally here. This is my 25th year and I've never seen, I think, a trade
01:04 this one-sided. Even with GME, it had the odd down day. Like this thing goes up, just now goes up 100
01:11 points every day. Every day. And you know what? I couldn't take it anymore and I finally sold out
01:16 of the rest of it yesterday because I'm like, "This is just insane." I'm like, "It's too much,
01:22 too fast. It's due for a pullback." Immediately regret that sale again because you know what?
01:27 The next day we just tack on another 71 points here. It's an unbelievable stock. And then there's
01:33 people talking and it's a good point. I'm going to make this one more point and then I'll let you
01:36 guys talk. We're right on sentence here as I always do. The S&P rebalances next month.
01:43 Is there the possibility or even probability that SMCI might get added to the S&P?
01:48 The market cap is climbing rapidly here. It's profitable. SMCI, this could be added to the
01:56 S&P next month and there's more fuel for the fire. This fire just doesn't want to go out.
02:01 Unbelievable. Congratulations to everybody who's been holding it this long. I did ring the register
02:05 because when you get 700 points in six weeks, it's time to ring the register. But now it's
02:10 800 points. So I don't know what to say. Maybe it just continue to hold. Nine-day winning streak,
02:15 higher highs, higher lows, higher closes. Nine-day winning streak. Also make that 11 of 12 if you
02:24 want to, or excuse me, 10 out of 11 if you want to tack that on. I made the font a little bit
02:30 bigger for you. Not trying to pick a top yet in it, but holy mackerel. I'll just give you your
02:36 pre-market high. It comes in at 1078. And then the other thing I just wanted to mention is
02:42 the volume. Look at the volume going up like this. This is, wow, man, there's going to be some bag
02:50 holders or non-bag holders because big increase in volume in SMCI. I don't know what to say. I'm at
02:58 the point where it's jaw-dropping action. I was in the thing for a long time. This is the first
03:02 time I actually feel crappy that it's going up because I sold. I guess I shouldn't have sold any
03:07 of it, but I sold it in three tranches. The thing over doubled in basically four weeks. And I'm like,
03:14 well, if I sell a piece, then obviously I'm getting to the point of playing with house's
03:20 money. And then I sold another piece and then I'm completely playing with house's money.
03:24 I sold the last piece. So I sold, I believe I sold around 560, I want to say 780 and then 940
03:34 or something yesterday after the open. And obviously continue to run after that. But
03:38 I'm like, holy, this is just unbelievable. So anyways, congratulations on all the longs.
03:44 I hope some people are still long and a lot of people reaching out that they are still long it.
03:48 I don't know where the ride ends, Joel. I think it doesn't feel like to me out of the last few
03:55 years when we've seen some of the crazy rallies, whether you're talking about AMC, GameStop,
04:00 Dogecoin, et cetera. It doesn't feel like that to me, this one is as retail driven. I haven't seen
04:07 as many people on Twitter or Wall Street bets, you name it, just out buying it for no reason.
04:14 I wonder almost how much of the money flowing in at this point is institutional. You saw the crazy
04:19 move in ARM and after ARM reported and it went up 50% in a couple of days, that was a lot of
04:26 institutions buying there. So just with SMCI, a lot of people have been calling it top. They've
04:33 been wrong. I have no doubt that more people today will be coming in calling it top at SMCI at 1100
04:40 or whatever it gets to this morning. And we'll see if it does end up moving lower at some point,
04:44 it has to. At some point we have to get a pullback. I think so. So give us some stats on it,
04:51 Joel. You were doing the stats and you were calculating it. Give us the stats for the
04:54 reason around the last dozen days. This is the only thing I can show you is, and I'll just go
05:01 to the daily here. I mean, one, two, three, four, five, six, seven, eight, nine up days in a row,
05:09 one day, nine of 10. So you're going to add two more, it's 12, 11 out of 12 up days. It's doubled
05:19 and the volume's increasing. I don't even, I mean, we just got to wait. There's no consolidation.
05:25 There's no pause. There's no pause in the action yet. The only thing I would say,
05:29 I know Nvidia earnings are next week. And just real quick, before we move on to a coin
05:34 basis earnings from SMCI, I did see this on Twitter. This is from the, I don't know if I'm
05:41 going to say this right. The best CBC letter. So I will say those Michigan product. I just want to
05:48 follow that. That's really, he's from, but he went to Bluefield Hill. He's from my area.
05:54 I've tried to get him on the show. He has every person that runs that.
05:57 His name is Adam Kobe. Adam, before I pull it up, I want to ask you guys this little
06:03 trivia question. So he said that the RSI, the relative strength index, which I don't really
06:07 look at that much reached above 97 on SMCI. And he said, there's only been one other stock. I
06:13 don't know if it was ever in the past decade to get that high on the RSI. Do you guys know what it was?
06:17 GameStop. Yep. GameStop. So let's look at this real quick from again, this is from
06:24 I didn't see it either. I just guessed. So I didn't actually.
06:26 So this is absolutely insane. The daily RSI on SMCI just closed the day at 97 as the stock pushed
06:31 above a record thousand dollars a share. There's only one company in history that has managed to
06:35 mark a daily close with an RSI above 97. It was GameStop on January 27th, 2021. The day before
06:42 the stock peaked in the meme stock rally. Super microcomputer has not had a single down day since
06:48 February 2nd and is now up 352% in 2024. So, I mean, look, I don't know if he's calling a top
06:57 here is saying, but last time the RSI got this high on a stock was GameStop and then it sold off.
07:02 But I was saying earlier that it doesn't feel necessarily this. I mean, you have
07:06 at least some justification here, not justification for this move, but you do have
07:12 the fundamental reasons and the justification for a violent move higher this violent. No,
07:17 probably not. But again, I mean, you know, I don't think we're going to see this thing
07:22 completely round trip like we saw GameStop didn't go all the way back down to where it was or around
07:27 there. But you might, you know, see a pullback at some point. I don't know if that means it's
07:31 going to pull back to 900 and people start buying it again or maybe it pulls back to 800.
07:36 But either way, it'll be underneath demand. That's the problem here, too. And to your point again,
07:40 and we keep talking about it, there it says fundamentally driven. They weren't prepared
07:45 for this type of earnings growth out of this company. Now, is it overdone? Yeah, I mean,
07:49 a 97 RSI sounds overdone to me, but I mean, it sounds like it's due for a pullback. But you know
07:55 what is due for a pullback three days ago, it didn't pull back. It just kept going higher.
07:59 So hard to call tops.