StockGuys 8/29/24 $spy $btc $mstr $mnkd $sava $smci $dell and more

hey everybody this is Dr J spikes live from Long Island New York how are you guys doing could be better yes exactly could be better the same lot too much losing yes this week was really bad Monday Tuesday Wednesday too much losing smci killed meci is a killer killer Thriller [Music] yeah my average in mcci is like 731 or something like that may me too I'm down quite a bit Yeah and and mstr I'm also killing me strr I'm not down that much but I think I'm up still by the way I bought Nvidia last night after hours I know and you made money I sold it early this morning yeah I I I did well with with smci buying it out you know after the Deluge I sold it today for a little little swing profit yeah but you know still a lot so Nvidia confused people man are they are they like people are interpreting what they're saying many different way it's like we said what would happen just like the just like with the Pharmaceuticals you get good news and it goes down because it wasn't perfect news well a lot of earnings beats responded in a positive way there were a lot of good news that was that was good news but the future outlook was not the you know he he said I think Nvidia will be just fine stocks all all the stocks go up stocks go down and when Nvidia is going down it really knows how I think it could go down to 100 again I think so too that's why I sold it and if it goes down I'll buy more that's mine I I bought and sold all of it yeah I didn't sell mine but I I I intend to buy more I sold I sold the portion 30% last week make sure it's turned out to be good glad I did that let's take a look at the charts too much lamenting right sure can cry over spill milk whenever that means you see Andrew's comment uh Nvidia is conf conf using yep that's what I thought too yeah it's hard to figure its direction but near term I you know you want to trade it fine of course smci has got serious problems you know financial fraud cooking the books that's not good I mean a company this big you think they would do such things look did you ever have Emon right yeah I remember that one yeah they were pretty big I mean that's really serious it is the SP spiders are not making the new highs that the Dow is making but I think the direction is clear I think it's bottom pretty much bottom and this little little consolidation pattern is that is that like a horizontal Channel there do you see that just a few days but it looks like a horizontal Channel call it a a bull flag or whatever you want to call it consolidation we're going up that's I I I called for 620 I raised my target for 6 610 to 620 so so September what do you think of September usually September is not the uh is that a flushy month August August wasn't a disaster usually it's not a good month so you know I'm not really concerned I think we're going to have a good four months to the end of the year we'll get our you know point maybe another 10% down in between but we're going up going up I'm pretty convinced of of the direction but we discussed this the last time Cala 620 is a very simple calculation if you look at the previous high it was it was uh it it was I mean 62 how'd I get 620 I took 565 the previous High to the previous to the recent low at 510 and that's 55 points add that to the on top of the 565 and you get 620 so if we go up the same amount that we went down from this side it'll be at 620 that's all I'm saying there's a lot of possible numbers to pick I'm pretty optimistic and if I was less optimistic I'd go with 592 which would be a 50% extension above the 565 so that's possible too 592 all those numbers look up to me yeah they're up I'm I'm definitely bullish I'm thinking in fact of just buying spy and the hell with individual stocks or maybe even buy some calls which I haven't done in a long time I might just do that um my general feeling is bullish so it's you think you think we can hit those numbers this year yes second quarter or third quar I mean second half or third half sometime maybe November okay I'm not sure the timing they were almost there you know what's 600 from 565 35 points it's nothing really nothing easy and when I started talking about 600 back back when it was seemed harder when it was when it was 480 but I think now it's definitely visible to all to look at that 600 is going to be like a magnet 600 spy 6,000 SPX let's look at the Dow Jones new high today so we're getting new highs on the Dow Jones we're going to get new highs on all the other Industries now um let me ask you a question Dr Jay um this whole idea about a rotation into um the Russell 2000 is there enough money to do that are you still you still thinking that's possible I'm thinking every everything will participate all sectors except maybe utilities so you thinking these even even these ones that just got Hamed smci and Nvidia sure back it's just it gives it more room to climb oh okay sound that's good to me yeah I mean I'm not saying I I want I'm GNA stay in smci I may I may sell it off gradually I don't know I'm not happy with it I don't blame you it is at the bottom of its Channel though so it could take about for tomorrow I hope so let's take a look at Bitcoin Bitcoin doesn't want to very get back above 60 was trading above 60 most of the day doesn't like it right 60,000 why your screen is blurry is it blurry it's blurry everything I see is blur oh here you go much better now so I don't know I don't know what to say with this but uh choppy that's the word we used the last time I think we stay with that word Choy it's going to eventually break out but could could take long a lot longer than we thought can you draw a line on the uh you know from uh August like for the month of yeah from top to down Drew this line is we drew the triangle before Panic yeah that triangle going down yeah like this something like that and one from the bottom yeah I it is it is consolidating here it's going to break out could take a little longer than we thought yep maybe mid September I wanted to keep above 60,000 at least you know that that's that's important but it's but right now it's below all the averages right uh is it yeah yeah not good it's looking more bearish than bullish in right now but it's choppy back and forth action this one is consolidating maybe flagging a little in here but it's similar to bitcoin practically the same micro strategy yeah smci we said the last time on the show when we were on on when it made that red candle two three back we said that it could easily go if it goes below the 478 it can go a lot below and unfortunately it happened and it could go a lot below where it's trading at now you know you get further further short attacks and why not Hindenburg you know research is a big short attack with them Hindenburg a favorite yeah so don't think it's over with short attack I might sell this and move into Dell take a look at Dell I'm in Dell already it had a little beep maybe up a little on earnings did you see the comment from Ken no he wants to know what we like but he also uh he bought D he bought I think that's wise he said because you you you liked it a couple days ago we said we were liking it yeah I'm I'm thinking between Dell HP and and and smci this is probably the best best bet three of them right of course it's not just servers but still it's fine doesn't have to be Dell is is didn't break out much after after after the close but maybe tomorrow will be a better really good day for Del I think it could be up another two three to 115 116 tomorrow and long term I think Del has got more more short at least short term it has more promise than any of the others uh Nvidia look at to really turn South though it's kind of kind of sickening but it it didn't totally collapse I'm waiting for that 100 area 103 105 10 somewhere around there I have a buy at 111.111 okay your first five keep a little change if it goes lower yeah but you do you know why 11 because there is a gap there I see it feel but it could go lower after it fills the Gap understand so doesn't have to stop at the Gap yeah yep you can start thinking about buying it right about there right about there yep there's a nice scap to fill probably I think it'll go all the way down to the to the 100 quite possibly that's 10979 maybe maybe even lower than that all right uh we had when that that mini when that mini break crash happened we got down to 103 that you were looking for just even below it so I wouldn't I wouldn't you know load up on Nvidia yet if if if you own none of it i' I'd still wait for better entry Professor Spike you see you see why it went down to fill up that Gap you see that Gap in mid May that's right that was one of the ones we were talking about this one has been doing well it hasn't had it hasn't had his big news yet right sa the end of the year right we're still waiting I think you can nibble at this right up until the end of the year and if it goes your way the data looks good you're going to be rich like a son of a [ __ ] this is that's the potential on this one of course like all the biod DS if it does if it misses Look Out Below so some of the guys that talking about futu fut if you want to take a look at it what is futu again it's been a while mankind is at a multi-year high I'm glad I loaded up on that one at least something's doing well I can't believe I'm making money at least on paper on a biod d making money on mankind making money on smmt making money on nvo I'm doing okay with my BIOS not making money on Anova so no I know nois isn't doing it yet uh what other what other bio do I own do I own any other well I don't think so I think that's it what's the name of that virus company we talked about the GX I'll put it on the screen remember that chart the Big Green candle I bought it I said it's going to go to seven that's a good entry point it went to seven I I I bought some and I'm happy every so often I do something right um the guys want to talk about iance also iova yeah I don't I don't own that one I did own it briefly nice like it's found a bit of a comeback yeah nice move very nice might it looks like it might have just dipped down to to low yeah I mean I don't love I don't love the candle today though you see the third candle from the back where the 50 crossed the 100 how it went down yeah with a 50 cross to 100 yeah three days ago oh yeah yeah yeah that could be the bottom but usually it's a bad sign when the 50 crosses yeah that's what I thought too is it 100 or the 200 the black line is what the 200 yeah I'm sorry yeah 50 cross 200 the the the 50 and 100 crossed um at the real bottom so this is not not a good sign for I also don't like the candle today short short term it might be you're giving back a little maybe maybe pick it up around 1075 U maybe the middle of this how about the middle of my candle here 10 1088 yeah yeah that's what you said yeah yeah today's gandal has a actually covers a very old Gap yeah yeah 1075 looks like a good entry point shortterm weakness all right is there any other one you wanted me to look at well you you went through you went through mankind right you sure because they were talking about that wa which one I said you already did man they we're talking about IBM if you want to talk about IBM IBM is another server play IBM you know you said Dell is your favorite IBM is my favorite and then you IBM the TR Bears it out terms I'm starting with 200 now so it looks good it's it's also a dividend payer why I think dividend payers are going to come back I think um you know if somebody asked me to pick a favorite right now that would be it I mean from for a while my favorite was Lily my other favorite was Chevron which has been a little disappointing later lately but this IBM is something worth looking at you still in Lily and Chevron I'm still in Lily and I'm still in Chevron even though I'm taking a bit of hit a slight hit on Chevron I'm just going to stick with it because they're both like you said they're dividend plays anyway I'm in the other one noo noce also doing okay not like Lily now what about the general the general stuff like the IBB and the xbi are you happy with those these days um xbi xbi it should be okay doesn't look great it has to get it has to break out you know it's been repelled by uh around around 103 right yeah lot of lot of resistance I would wait for it to break the 103 maybe go in at about 105 I know it sounds peculiar to do it that way but you get a little Momo so you want to see you want to see more momentum yeah I want to see a take that out I want to I want to more proof I'd rather play iwm well the iwm I see so I'm saying that you know we haven't been hearing a whole lot of news about the Pharmaceuticals about like uh DNA or you know the the DNA editing or um the alheim drugs that much you know everybody's been putting their eyes on these obesity these obesity drugs everything is kind of quiet now yeah so I think we we'll wrap up bcrx that's what I want to talk about vcx yeah vcx RX is at a 52 week high and it's a beautiful Channel at Kamal sent I still own that from way back when yeah I'm getting my butt handed to me it's good to hear good news yeah and H Skyline says hello good to see everyone showing up today by the way if you if you're still with us give us a like because not enough love lately we're getting like eight 10 likes I want to get there must be 20 people in this world that like us well they used to be yes I want I want I want to see 20 likes is that unreasonable not at all very reasonable so then uh 70 million wow more than the CEO all right adios amigos ciao byebye everybody bye