Transcription
Ladies and gentlemen, Palantir stock is doing the unthinkable right now, pushing to the mid-50s, which is like, what the heck is going on? Man, we're up 6%, up another $3 per share! So we have to break down the charts, what I'm looking to do, and overall where I see Palantir going in the short term. Later in the video, we'll break down the indexes.
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So it's about 1:45 p.m. right now on the East Coast, and guys, Palantir stock keeps on going. What if I told you a couple of days ago, when the stock was at $41, $40 per share on Monday, literally two days ago, what if I told you we would be in the mid-50s in two days? Would you believe me, guys? Would you believe me?
Well, that's exactly what happened! That is exactly what happened! We're up about $13 or $14 a share, or about 30% since before earnings two days ago. And guys, this is why you don't sell stocks like Palantir, or at least you don't sell everything, right? I know a lot of people that are long the stock; they believe in the company, and it's a long-term investment. But they were like, "Oh, I'm going to time it. I'm going to sell out before earnings and try and buy back in."
Well, if that's you, you missed out on a 30% gain. Trust me, man. If it's a long-term investment, sure, you could sell a little bit, maybe take a little profits—that's fine, you can do that. But if you really believe in the company long term, and if it's a long-term investment for you and you want to own the stock, do not be greedy! Do not fight that or fight the urge. Yes, fight the urge!
I'm mixing up my words here, guys. Fight the urge to sell early and try and buy back in because with stocks like Palantir, man, clearly if this year has proven anything, they go up more than you think. I mean, for Pete's sake, guys, my target for this year was $30. Could you imagine if I sold out at $30? I would feel like a complete idiot, a complete clown right now, because we're at $54! I would have missed out on so many gains, it's ridiculous.
So yeah, man, if it's a trade, all right, go ahead. Take your profits. It's a trade, whatever. But if you're in it for a long-term position, fight the urge to sell because you're going to get the urge, and you know you might not get the opportunity to buy back in at the price that you want, at the price that you think it's going to get to.
So here we are, man. We are up so much—$55 per share! We're up 6% on the day, man! And this is just a massive gainer for me. Now, I'm sure for a lot of you guys as well, it's become the best-performing stock, at least this year. You know, for me, this year to date, it's by far the best-performing stock in my portfolio.
I don't know; each time you think it's going to come down, pull back, it just keeps on going, which goes back to what I said before: you got to let the winners win! You got to let the winners ride! Man, that's the name of the game here. Oh boy, is it riding!
So I think we are due for a pullback, I'll be honest, or at least some sideways trading. We're due for it. I was saying this yesterday before this 6% gain that we're seeing today. I was saying it yesterday, and I think now even more than yesterday, we're due for just some cooling sideways trading.
Because, guys, we don't want to see this thing go up, up, and away forever; it's not healthy. We need to get the pullback. So at this point, since we're at all-time highs, it's like we don't have any upcoming resistances, right? If that makes any sense. But where could we find support, may you ask?
Well, it could be anywhere in this range right here, in my opinion, anywhere from $45 to $46 on the lower end. You know, another critical support level that we might come down to is about $50 to $51. That was, I think, the high from yesterday. Let me double-check that. Yeah, yesterday we hit about $51 to $51.50 right before close.
Obviously, we gapped out of that this morning. So if this does pull down a little bit initially, I'm going to see, all right, does it hold $51.50, which again was the high from yesterday? If so, all right, maybe we bounce off that, consolidate there a little bit. But the second it breaks under $51.50, we might start filling the gap down to about maybe $47.75 to $48, which you guys can see right here could be the next gap.
Then, if that were to break, maybe we go down to $45 to $46, which was the high about a week ago, two weeks ago, also about a month ago, back in the beginning of October. So yeah, guys, that's where we could be going, potentially, with $47.75 being the high right after earnings. Yeah, right after earnings!
So these are some gaps that could fill to the downside if we do start to sell off and get that healthy pullback. So keep that in mind. And of course, I'm curious kind of where your head's at. Let me know in the comments, guys.
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And this is going on Palantir, up 6% in the midst of a historic day for the stock market. Do you guys want to know a stat that I would love to know? I’d love to know the stock market's reaction the day after the election for the last couple of presidencies, right? I'm very curious to see how the stock market has reacted because this has to be the biggest move in the green postelection results that we've gotten, at least in recent history.
It's got to be! It's got to be! I can't remember the last time we saw this much green postelection results. But here we are! Here we are! We have the Russell up 5.4%, up 122 points, and guys, we are completely breaking out on the Russell! We're taking out this resistance, which has been resistance for months.
We've talked about it before on the channel a lot, being about 2280 to 2300 points, 2250. Look, we've struggled there since the middle of July, about 4 months now, and we were making higher lows into that resistance. So this triangle now, which is exactly what it is—a triangle—it is playing out; we're fully breaking out, which is really good news, obviously, for the small caps.
And now we’re on a one-stop shop, one-way ticket, in my opinion at least, to all-time highs! All-time highs being about 70 points away from where we are right now. So don't be surprised if we get Russell all-time highs pretty soon here. I believe the Dow hit all-time highs today.
Dow's up 1400 points right now, which is unreal! So yeah, all-time high for the Dow was hit at 43,700 points. The Russell's breaking out; Dow's at all-time highs; S&P's also at all-time highs—we hit 590 on SPY, 5900 on the actual index, which is awesome.
And the NASDAQ, guys, well, is about 15 cents away from all-time highs now. So don't be surprised if, by the time you're watching this video, or maybe at some point tomorrow, we're at all-time highs on the NASDAQ. We're pretty much right there!
So the day after Trump got elected, all-time highs on the Dow, all-time highs on S&P, NASDAQ is pretty much there, and the Russell is breaking out. It's pretty clear that the stock market is very excited about Trump's presidency!
And I'd be curious to see, comma one, how the stock market would be reacting today. I'd be very curious to see that in some alternate universe, right? Which I guess we'll never be able to see that now. But yeah, what do you guys think? I'm curious. Let me know your thoughts in the comments, hit the like button, do not forget to subscribe here on YouTube, and get up to 15 stocks for Mumu—that's linked down below, free money!
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