What's up, Apes? Welcome back to the Daily Peel's Daily podcast of the day. My name is David.

Thank you all so much for joining us here once again on this beautiful Tuesday, September 3rd,

2024, just a day after Labor Day, which we of course in the States, celebrate by making minimum wage employees continue to give us their labor.

So it's truly a great holiday for the rest of us out there.

So hope you had a nice long weekend.

I'm very glad to be back with the Daily Peel, Daily Podcast of the day, because we've officially relocated.

The Daily Field Global Headquarters is no longer based in Charlotte, North Carolina, is now based in the great state of Massachusetts. So shout out to my fellow Northeasterners, Bostonians out there as well. You guys are always the best. I'm glad to be back up north. Okay, let's go ahead and start talking about what you guys actually care about within this video. So we've got a lot to go over here today. I'm going to be getting into the intricate details of my own personal

home buying experience along with manufacturing report today that's somewhat worrying for the future

of the U.S. economy. And of course, we'll be going over our thoughts on some of the biggest stock

movies of the day. Let's go ahead and dive right in. So WSO Alpha portfolio down about 1.99% on the

session today. Definitely a rough session out there. It was not ideal, but truly it wasn't ideal for

anybody out there. I mean, mega cap tech stocks led the sell off. Usually, that means it's a pretty

good thing for us over here at the WSOF portfolio. Considering that the NASDAQ index was down at 3.26% or about 3.3% on the day with the S&P down 2.12%. All in all, pretty good day. We outperform both of the indexes, so we can't really be too upset about that. NVIDIA did most of the heavy lifting heading downwards. We'll talk about that in just a quick second,

but I think every single one of the Meg7 stocks was down at least 3% today. Maybe Apple is down

closer to 2.75% or so, but still very ugly day as people, it seemed like analysts kind of took

the long weekend, long weekend to reassess exactly what's going on in markets. They were considering

NVIDIA's earnings guidance seemed to be kind of on in markets. They were considering Nvidia's earnings

guidance seem to be kind of the primary factor. But overall, it seemed like a day of profit taking

heading into a period of uncertainty. Profit taking is generally the reason that journalists

subscribe to selloffs when they just have no fucking idea what's going on. So I feel like I should

add that part in too. That very well may not be the case. But as far as what I can tell right now, it seems to just be nerves coming in, basically saying we don't have a clear view on what's going to be maximally beneficial in the, you know, when the Fed starts cutting rates and as the economic environment starts to change. So let's go ahead and start selling off some of our big winners, collect some of those gains, and, you know, build up a little bit of a cash pile so that we can take advantage of any new opportunities that might come our way as rates fall as the economy slows or whatever else it might be.

All right.

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