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The dividend is 5.9% and offers some growth. There is a plastics shortage in the U.S.

These are big numbers, and it's just mind-boggling. He just hopes that investors don't get caught up in it too much. Keep an eye on how it trades and how everything trickles out.

SpaceX raised a record $75 billion at a ~$1.77 trillion valuation (pricing at $135/share). Shares began trading on Nasdaq under $SPCX, quickly popping 20%+ (trading around $164–$172 intraday, pushing market cap above $2 trillion). This is the largest IPO in history by a wide margin. Social media sentiment is highly positive and hype-driven. Posts celebrate the "historic" debut, Musk becoming a trillionaire (per some estimates), first-day gains, memes, and comparisons to meme stocks or tech giants. Some caution about volatility, "rug pull" risks, or long-term valuation concerns, but enthusiasm dominates.

It's a bit of a K-shaped economy. Accumulated inflation over the years has had an impact on the consumer. The consumer discretionary sector is relatively weak compared to others such as technology (which involves more enterprise spending). If you're invested in the consumer discretionary space, be careful.

S&P: Resistance is 7650 and support at 6250, a huge difference. Bulls need it to hold above 7250, old resistance that the S&P broke last month, or else it falls to support. The RSI has now made a massive bearish turn down, which happened when the S&P recently made a new high--this shouldn't happen. Bad. Nasdaq 100: the RSI shows a double topping patterns and overbought. This happened when tech peaked in late 2021, leading to a 30% pullback. Garner expects the Nasdaq to be 50% lower than today's level. 50. This moment recalls the eve of the 2008 recession when the economy was strong, but fell apart in mere month. Signals point to the market cooling off after months of mania. He has raised his cash position to the highest level in years.

Classic climb the wall of worry, and then take the elevator down. It'll probably last a little bit longer. We'll see what happens on Friday with SpaceX. There are so many moving parts and there's so much uncertainty out there, people are rebalancing. Doesn't think the drawdown will have legs. 

He has about a 52% hedge across most portfolios, and built up some cash to ~15%. When the rubber hits the road is when they take off that hedge.

Yesterday saw a pretty dramatic fall, as the futures got down to 28,200. It's sitting right now around 28,600. That 28,200 will be really important to find support. If it goes through there, we're probably going down close to another 1,000 points. The market's always right, so you have to respect it and pay attention. It never plays out the way you think.