Peter Tuchman
speaker
483 appearances
9 recordings
1 series
first heard Dec 2024
last heard Apr 2025
Peter Tuchman’s voice in public audio — every appearance, attributed to the second.
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Appearances
We're going to be doing episode after episode every day of what the heck's going on, giving you a forensic breakdown of what's happening into the market as we end 2024. And stay tuned for some of the best interviews I've done since the beginning of this show in 2024 in food, in fashion, in finance, and fun. We'll be seeing a lot here, so stay tuned. Three, two, one.
Hey everybody, it's me, the Einstein of Wall Street. We are here with Trade Like Einstein. I am Peter Tuchman, and we're here on the floor of the New York Stock Exchange in the balcony. History is made in this building every single day. Somebody with my long-term experience, I've been here for 137 years, it is my responsibility to help teach you how to navigate this market successfully. Boom!
Hey everybody, it's me, the Einstein of Wall Street from the floor of the New York Stock Exchange, right under the podium. Forget about it. So look, where are we? You know, at the end of today, because we did have a little bit of a reversal, the market got taken down by Nvidia. Stuff out of China, there was some accusations about an antitrust thing, a monopoly story.
And so there was some major accusations against Nvidia, which has been best of breed, Jensen, best of breed for the whole year. It's carried the whole market. It was the first time there was really any kind of bad news on it. And you know how one stock can really drag down a sector, and that's what it did. It took the Nasdaq down. We broke a winning streak in the Nasdaq. But it's a day.
A day doesn't make a market. A week doesn't make a market. So the market was all red throughout the day. I think we closed down around 25 handles on the S&P. Friday we traded and closed at record highs. We had the economic data we were looking for. Unemployment did tick up a little bit, and that was majorly a function of the hurricane and some strikes.
That was up from 4.1 to 4.2, but still, the trajectory's been great with employment, and the numbers have been good. Payroll numbers, 277 versus whatever. Last month, we only had 12 to 14,000. This month, we're back into the hundreds on jobs created, non-farm payroll jobs.
I'm trying to get the psychology and the mental state, because you know when you go home after listening to me, you're going to hear everybody in the mainstream media talk about, oh my God, it's over, the selling off, it's the beginning of the end, blah, blah, blah. But that's not necessarily the case. When we see markets roll over, it's a lot different than what we saw today.
Today's red action, today's sell-off, In the market, look, it wasn't even a sell-off. Today was perfectly honest. 25 handles in the S&P is kind of a pebble in your shoe, right? And so you need to understand that we've seen there are some stocks that are so powerful in their sector and in their index that they can actually contribute to the whole market going up or the whole market going down.
The reason Nvidia is the stock it is today may get impacted on the monopoly story, but for the most part, nothing fundamentally has changed. Stocks that got hit today that are not Nvidia, that are not going up against a monopoly charge, this is the kind of day that is an opportunity when the baby gets thrown out with the bathwater and stocks get sold off in an index or all over the market.
because of one particular stock and everybody starts dumping stuff, then that stock that you didn't want to pay top dollar for is trading at a discount down $5, down $10. That's the time you have your shopping list. That's the time you see the opportunity. You should have a bell flashing, a light flashing in your house.
Ask yourself the question, I think like putting post-its all over the place, the rules, right? About never turning a winning trade into a losing trade. Always having a plan when you get into a trade. Using technical analysis and risk management when you get into trades. Always protect your downside risk, whether it's an investment or a trade. We've got plenty of wild cards.
We've had quite a wild year, right? Between the whole polarity around the election, about you got two wars going on. You've got the whole thing in the Middle East, and oil and all those things, yet the market has continued. Yet Friday, one trading day ago, this market closed at record highs across every indice. That is crazy. The S&P is up 27% for the year.
The economic data that came out this last Friday was spectacular. Now, all that being said, we've got CPI, PPI this week. Very important flag, economic information. that is the inflation target that basically the Fed will make its decision. The wonder is, are we going to close out the year at record highs? I can't tell you. The market's going to go up, market's going to go down.
I cannot tell you for sure that's going to happen. But the market tells me on a day-to-day basis throughout all the things we've seen this year that there is so much money on the sidelines, people who haven't jumped in yet who are jumping in. People are putting money to work. They don't want to miss this boat.
So many of them have missed the boat, whether it's in crypto, in equities, in the S&P, in tech, right? Because nobody ever wants to pay the high. And all year, every day, every week, every month, this year, we've had 57 record closes this year. Imagine that. I don't have any trading days every year, but we've had 57 record closes this year at the New York Stock Exchange. Isn't that crazy?
So it's like, I don't want to pay the high, but I'm sitting around watching today's high, maybe tomorrow's low, right? So look, there's always opportunity in markets. There's never a bad time to buy the market. If you're thinking about a long-term investment, disclaimer across the board, I'm not your advisor.
I'm just trying to get you into the right mental state and psychology of learning how to trade and invest correctly, taking the emotion out of it. Your first trade, if you are making an investment in a company, do your homework. Check out the company, the four Ps. Process, product, profitability, and the people. That's what makes a good company, right? I learned that from Marcus Limonis.
That's what makes a good company, okay? But look into the company, and if nothing's fundamentally changed when the market falls back, and you've been holding off on buying the stock because you didn't want to pay record highs, have your shopping list and jump in there. Make a determination how much you totally want to invest in that company.
And may your first dive into that company be your smallest. And then add on. If it goes up, add on. Going up, if it comes in, average into the stock. That's the only time you ever average into a stock. Anyway, ladies and gentlemen, it's a beautiful day here, even though the market sold off. These are days where it's fascinating to see
how everyone talks about it, how other parts of the market sort of fall suit when we do sell off. We haven't had that many. I mean, literally, we've had seven, eight at most. I would say we've got, you know, you can count them on one hand if you had seven fingers. How many times we've had any kind of consolidation sell off correction this year at all. And I don't even think we've had a correction.
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