00:00 I'm wondering if meta will continue to decline
00:03 now that we have the surprising turn of events,
00:07 Twitter going to rebranding to X.
00:10 - What?
00:11 What is this?
00:12 I saw the X in the corner.
00:14 So I went, I logged into Twitter, it was this morning.
00:16 And it was the first time I noticed it.
00:18 I'm like, what is this X in the corner?
00:21 I'm like, what the hell is this?
00:23 It's weird.
00:24 So anyway, so they're rebranding.
00:25 So they killed the bird.
00:26 So Joel, this is good news for us.
00:28 - It's great news for us.
00:29 - We have a monopoly, look at our bird.
00:30 - That's our bird, man.
00:31 - It was always close to the Twitter bird.
00:32 - That's our bird.
00:33 - Ours looked better though,
00:34 'cause we had the worm coming out of it here.
00:36 So anyways, there you go.
00:37 So we got full, it's our bird now, fully.
00:42 - Thank you, Elon Musk. - You cannot compete with us.
00:43 - We are the only ones with the cool blue bird now.
00:46 (laughs)
00:47 - He didn't wanna compete with us.
00:48 - The bird's the word, man.
00:49 - Oh, I like it.
00:49 I like the news.
00:50 - Bird's the word.
00:52 Don't you guys know that, man?
00:53 Come on.
00:54 - Not for Twitter anymore.
00:57 - Now will this affect how Meta's been trading?
01:00 Because Meta, of course, got that rip, it went above 300.
01:04 Now you're starting to see it really turn back around.
01:07 Can Meta continue lifting off of the thread news?
01:10 I don't know if it can get back to that 300.
01:13 That was a pretty tough crack there.
01:14 - One thing to consider was part of the rebalance as well.
01:16 It was a smaller part of it, but it was there.
01:18 It was weak on Thursday and Friday.
01:20 You can see the two candles.
01:21 I don't think it's coincidental that it was getting sold
01:24 in that QQQ rebalance.
01:26 That trade is over now.
01:27 So you could see, and I think you are seeing
01:29 a little bit of that relief pop this morning.
01:31 I'm gonna be back with you guys in five minutes here.
01:33 I got more stuff going on.
01:35 - Okay.
01:36 All right, good.
01:37 Let's see.
01:38 We'll look at the technicals in this one.
01:41 And I'll just stick with the, I'm sorry?
01:44 - What do you think here, Joel?
01:46 - I just, I love what these kind of setups,
01:49 because you have both.
01:51 I mean, you have great levels to look at.
01:53 Let's say 319 down to 291.
01:57 So that's 19 and nine, right?
02:00 32.
02:01 So you take half of that, the move,
02:04 this is called 15, 16 bucks.
02:06 You know, there's 305, 306 area,
02:09 right in the hot, right in yesterday's high.
02:12 So what these stocks have to prove,
02:14 and that's right there.
02:15 That's right at Friday's high, at 305.46.
02:19 To me, the move would be,
02:20 how much are you gonna give back to this three?
02:23 Can you even get to 306,
02:25 establish a bid and keep on going?
02:27 Or people like, man,
02:29 I missed my opportunity to sell this over 300.
02:32 300 is my target now.
02:34 So let's see.
02:35 I mean, it's been a magical run on the monthlies.
02:37 It's been a little bit of hit on the dailies.
02:40 You're getting a little bit of a relief pop,
02:42 but boy, oh boy.
02:44 I mean, you got a ways to go to get back half of the move.
02:46 Old time high, 318.68.
02:49 But keep up.
02:50 I'll make that 305 and a half, 306.
02:53 I'll make that a four star today.
02:55 I know it's 10 bucks away,
02:56 but you know how much Meta can move.
02:58 Mitch, what are you seeing on Meta?
03:00 - Yeah, I'm with you on that.
03:01 I like the 50% retracement outlook.
03:04 And like I said,
03:04 I think 300 is gonna be a little bit of resistance.
03:07 Let's see if we can just quickly get back over that, right?
03:10 If you're right back over into 305, closing up there today,
03:13 yeah, I wouldn't be fighting Meta.
03:15 Let's just say that.
03:16 I think we gotta be really careful
03:18 with these types of stocks that we get quickly bearish
03:22 because it's just so extended, right?
03:25 Remember, these are the strongest stocks,
03:27 like Meta and Nvidia.
03:29 You gotta be careful
03:30 when you're shorting the strongest stocks.
03:32 At least I would personally put a little warning out there
03:35 because I know I'm one of those brave souls out there.
03:38 - No, don't do it.
03:40 - I'll tell you right now,
03:41 you have to be as nimble and quick on that stop as possible
03:45 because if not, you could get wiped out.
03:48 And I think that we got to be careful with stocks like this.
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