What is going on everybody? It's Stas here. Welcome back to another video. So in today's video, just like always, we're going to be doing an overall market update, looking at the S&P 500, the Dow Jones, and the NASDAQ. We're also going to be talking about what I ended up doing today on the 30th of May in 2019 in terms of my trades, as well as just taking a look at how the overall market did in terms of some other individual stocks, what other stocks am I personally watching ETFs. We're going to be getting into that in today's video as well. But before we do get into all of these different topics for all of you guys out there that enjoy the content, you find value in the content, feel free to go down below and hit that like button. It really supports me and supports the channel in general. And if you're new to the channel, I have two links down below in the description box, one of them being the StriveSmart Discord Group, and the other one being the StriveSmart Facebook Group. Both of those are very valuable communities that you should be a part of if you want to interact with our community in general. So without further ado, let's just hop right into it, guys. So the S&P 500 ended up closing up today $5.84 up 0.21% at the close. The Dow Jones Industrial Average up 43 points, up 0.17% at the close. And the Nasdaq here is actually up right now 0.5% up 38 points. And this is the future. It's about 50 minutes after hours at the time that I am recording this video. So if we look and see precisely where the Nasdaq did end up closing, it was about roughly where we are right now. So about a 0.5% day in the green for the Nasdaq. So overall today, guys, the markets were kind of choppy to say the least, right? The markets were kind of choppy. We didn't have an insane red day. We didn't have an insane green day. It was kind of in the middle. We were just up and down, up and down, nothing too crazy in terms of the markets. It was just one of those kind of boring days. And let's just talk a bit deeper here on some technicals for the S&P, then we'll get into the Dow and into the Nasdaq. So judging on this 184-hour chart, we've been talking about this over the past couple of videos, how the S&P 500 broke $2,800. This was a very critical level of support, a level that used to be a resistance back towards the end of February. Obviously, we broke out of the resistance, making that level a new support, right? We ended up holding it in the middle. I guess you can say more towards the beginning of May here at about 2805. We retested the level about a week ago on the 23rd of May. And then we finally retested the $2,800 level again about two days ago, and that is when we ended up breaking below it. So now we're simply trading between 2733, which is the next level of support for the S&P 500 and about $2,800. So we're in this 70-point zone, and that's pretty much where we're trading right now. So I would look for, if the S&P continues to sell off, I would look for it to potentially hold 2733. And if we break that level, let's not get too ahead of ourselves, but let's say we do break that level here in the next couple of weeks, maybe in the next month, two months, three months, however long it does take. The next level that we may be heading to will be around 2683. And let me just outline that really quickly for you all right now. Take a look at this, 2690-ish. I guess you can say 2690, not 2683. 2690 was a support back in the beginning of February in 2019. So that's a level where I would look to see if the S&P does break 2730 for it to go to 2690. But again, let's not get too ahead of ourselves because we've yet to break that first level of support. But looking at the 20-day chart here, we're still technically in a downtrend. I got a question in the group chat today in the Discord group chat. Stas is the market still in a downtrend. Yes, the market is still in a downtrend. We're noticing on the 20-day one-hour chart here, we're noticing the S&As, the green line you're seeing, the yellow line, the 50 S&A being the green, the 180 S&A being the yellow. These are both still acting as levels of resistance, right? We're noticing the bearish cross here of the 50 S&A crossing below the 180 S&A. We all know when that ends up happening, when we see that bearish cross, that can signify and really tell us while we're doing our technical analysis that there might be some more red to come. And pretty much ever since that's happened, there's been more red following that cross. And we're noticing how at this point in time, we're still at that lower low point and we're still at that point in time where we're at the lower low in the downtrending pattern, right? We're not breaking out of the moving averages. We're simply just hovering here.  It wasn't one of those days where we ran up 40 points, where we went down 40 points, which is why the technical breakdown is kind of the same as it was in yesterday's video, right? Not much has changed. But what I'm personally watching here is I'm waiting to see, let's say we run tomorrow again. Let's say we have another green day tomorrow. Are we going to test that 50 S&A resistance? If we break that level, we may be running up to the 180 S&A resistance here. But if we notice some level of resistance, if we notice the candlestick struggling to get out of this 50 S&A tomorrow and we slowly start to fall down at that point, the RSI might be at the overbought status, that could be a point in time where we may continue this sell-off. And if we look on the five day five minute, we actually saw a brief moment today, actually for most of the entire day, honestly, where the 180 S&A here was acting as a resistance, which in my eyes also signified the continuation of this downtrend. Notice how in the five day five minute, the 180 S&A and the 50 S&A, both of these levels have been acting as resistances. And today we popped up, got rejected, popped up, lower high, got rejected again. And we kind of downtrended, although we popped up the gap up here, we pretty much did downtrend for the entire day. If it wasn't for this gap up, let's say we opened up the same spot where we closed yesterday, and we did this pattern guys, the same pattern we did today, but let's say shifted down a bit, if we didn't have that gap up, we probably would have closed somewhere down here and the pattern would still be in a downtrend pattern. So all in all guys, the S&P, yes, it is still in a downtrend. The downtrend continues here for the 500 largest publicly traded US companies that we follow. So again guys, I'm personally still viewing this as, and the market in general as some more selling, more selling to come. I'm not thinking to myself that we're going to reverse here to the upside until we get a break in those technicals, those resistance levels that we talked about a couple of minutes ago. So going over here to the Dow Jones industrial average, we talked about yesterday how we're trading between $25,000, that level of support, and around $25,500, putting us in this 500 point window. And oh my god, it is thundering so bad outside. I'm in New Jersey right now for those of you guys that don't know, and we've been having tornado warnings, and you probably can't hear that through the speakers here or through the microphone, but it is absolutely looking like it's going to pour out there. But anyway, the Dow Jones is simply just holding the support that we held yesterday, and the technicals haven't really changed much. When you have days like this in the markets where it's a 0.1% day in the green or a 0.1% day in the red, that doesn't really change the technicals too much from the day to day activities, which is why I don't want to spend a crazy amount of time on this technical breakdown because I kind of broke it down already in this morning's video if you guys watched that one. And in yesterday's video, of course, the market up that yesterday, I broke it down as well. But for those of you new viewers out there, you may be watching me for the first time, I'm still going to be breaking it down for you in today's video. So we talked about, again, we're in that 500 point range from $25,000 to $25,500. And just like the S&P 500, the downtrend is still intact. The bearish crosses there, moving averages are acting as resistance levels. And today was merely a kind of a consolidation day. Again, we closed a big green, but it wasn't really a crazy day in the green. So if we do end up running up tomorrow for the Dow Jones, let's say we have another green day, I would be waiting to see if we get rejected by this 50 SMA. And honestly, I would love to enter into one of these marketing TFs that go up when the markets sell off at these particular zones, at these particular levels. Let's say if the market pops up, we start to see some resistance there that can offer a ton of margin on some of these marketing TFs that we trade, I talk about, and I trade and talk about on this channel. So if we pop up, watch for that 50 SMA as a resistance level, guys, because noticing over the past couple of weeks, it's been a strong level of resistance. And if we're going to the 5-day-5 minute here, we're noticing how the 180 SMA, just like the S&P 500, has been acting as a resistance at the bottom or the top off here, lower, low, lower, low, or actually I should say low or high here, two rejections under the 180 SMA, and we're seeing a potential breakout on the moving averages. And actually, one thing I should mention here, guys, if we do end up gapping up tomorrow, let's say the futures are green, and we start to break out of this 180 SMA resistance, this could lead us to break out. And on the longer-term charts, on the 20-day one hour, this may be what we need to see on the smaller-term charts for us to reach the 50 SMA resistance on the 20-day one hour chart. And this is really a prime example of why it's super important to analyze a bunch of different timeframes, because if you're just looking at this 20-day one hour chart, you may say, okay, we could potentially gap up here, but then you're looking at the 5-day-5 minute and you're noticing the resistance. So first, we need to break out of this resistance, which again, we're slowly doing here after, you know, towards the close of the market. And if we see that break here on the 5-day-5 minute, then we can go to the 20-day one hour, and we'll slowly see the gap filling up to the 50 SMA right there. And that's a bunch, that's really the same as the SMP in terms of the technical analysis on the 5-day-5 minute. We're seeing a slow breakout. Let's say we break out to the upside like this tomorrow, that will be getting us closer to that 50 SMA here on the 20-day one hour chart. So let's talk about the NQ very quickly. Again, this is the best performing one in terms of today's market, but judging on the 20-day one hour, a lot of the same, guys. A lot of the same as the Dow and the SMP and what I talked about in the video this morning and in the video yesterday. There's no need for me to repeat this 100 times, but again, we get new viewers on the channel every single day. And we're noticing the downtrend is still intact. We're noticing moving averages, the SMAs, they're acting as resistance levels, bearish cross, lower lows in the candlesticks, lower highs. Everything that I'm seeing is pointing to more selling. And we're seeing how now we're seeing the Nasdaq is breaking this 50 SMA a bit. So I'd wait and see tomorrow if we fully break out of that 50 SMA and we start to test this level of resistance that we're approaching right now, which is at about 72.70. And why is this a level of resistance, guys? Well, it was an old support. Back in, actually, this was about a week ago, 23rd of May, we bottomed off at this level. We popped up. And obviously, we broke that level of support, making it a resistance. So pretty much right now, the candlesticks on the Nasdaq are trading between 72.20 and about 72.70. If we break out of 72.70, the next spot we could be going to might be 73.00 dollars flat, which again is a resistance that we're seeing here. And if we break that level on the upside, we may be going to the 180 SMA, but let's not get too ahead of ourselves. We need to see first the break above 72.70, then the break above 73.00 before we can test that 180 simple moving average here. So 184 hour chart very quickly on the Nasdaq is trading above the 72.00 level of support, which I talked about yesterday. And in this morning's video, oh my God, I cannot get my words together today, guys. I apologize about that. But this level is a very critical level of support. If we start to get into the low 7000s, even in the 6900 level for the Nasdaq, we're going to be in levels that we really haven't fallen down to since this big sell-off that we saw a couple of months ago and during this climb that we were seeing in the beginning of 2019. So I would think, in my opinion, if we do pop up, get rejected by the 50 SMA and sell down to the 7000s, low 7000s, high 6000s, right, 68, 6900, that can lead to more selling here on a technical basis for the Nasdaq. So that's pretty much it for today's market update video or market update portion of the video. Nothing crazy, guys. Nothing crazy. The markets, the technicals, they're really the same as they were in the beginning of the day and in yesterday's video. But again, it's super important for me to talk about this stuff, break it down because we are growing as a community. The channel is growing every single day, new people, new eyes on the videos. And I want to get the knowledge, I want to get the value out to you guys, the new people out there so you can understand what I'm seeing, how I'm viewing things, and it can maybe be better your trading. That's the whole idea here, right? So let's talk about what I ended up doing today in terms of my trading. It was a pretty quick trading date today for me, guys. If you watched my morning video, you saw that I was talking about gold. I was talking about McDonald's. We saw the big dump on crude oil and I actually ended up taking a trade in McDonald's. And McDonald's ended up playing out so beautifully, so perfect to my plan. I made a video yesterday actually talking about McDonald's stock. If you guys watched that video, it's called Two Value Stocks, then I'm looking to swing trade right now. McDonald's was one of them alongside of Coca-Cola. And McDonald's ended up playing out so perfectly, guys. And if you guys watched the video yesterday and I talked about it this morning, I called it out in this morning's video.  I got some messages on Instagram. People were saying nice call-out stocks. Thanks for calling out McDonald's. And just to put this out there, guys, don't just trade stuff simply because I'm calling it out.  That's all cool, right? That's great. But if I'm just calling these out and you're blindly going in and trading them, that is a problem. You have to understand the technicals. You have to understand everything for yourself before hopping into any specific trade. But the gist of it here, guys, was we got to pull back on McDonald's yesterday over the past couple of days down to that 195 level of support. And that 195 level of support put us roughly at a level that we were holding above in the beginning of May and on top of the 180S in May. We got to sell off. We were seeing some consolidation here on the 180S in May level of support, which was initially opening my eyes to McDonald's. And then what do you see today, guys? The bounce was absolutely unbelievable, right? We literally launched right off of that 195 level of support. And let me show you guys a bit closer here on the five day five minute.  Oh my goodness, right? Take a look at the five day five minute here. We topped at 200. We were selling off, selling off, got to 194. And then once we started to break that moving average this morning, and honestly, I saw the gap up this morning in McDonald's, which was opening my eyes to a potential trade. And then once we started to see it popping up aggressively, especially into the 197 level, which I was saying, that's the level I want to see it get into before trading it, you know, that's what led me to take my position, right? And on the 184 hour chart, let's talk about that 197 level very quickly. And let me explain to you guys why I wanted to see a break into that level before taking a position, right? So we got the bounce on the 180S in May. That was a confirming point right there. That was the first confirming point. The second confirming point was we were gapping up pre-market hours, right? The markets were looking green. That was the second confirming point. The third one was we were kind of actually, I got in before we tested the resistance at about 197. 75. We can see that level right here, but I actually traded it through the resistance. And once we broke that resistance, that gave me confidence to continue to hold it. But I wanted to see a break into the 197 level before taking a position and then a break out of the 197 level when to take my profits, right? That was kind of the goal on this trade. And we saw, again, we broke out of the 197 level and we actually ended up closing at 199.24. And we're actually at 199.5 here after market hours. So that's pretty good in terms of, you know, technicals here. Everything was pointing in the green for me to take this trade. And that's exactly what I ended up doing, guys. So on the one day, one minute, you can see, again, we gapped up. We popped up aggressively. I ended up getting in at about 197. Again, a bit premature to that break of the resistance. But the whole idea here, guys, was, you know, I was seeing the aggressive push. I was seeing the uptrend really just keeping itself and keeping intact. And I just took a position on one of these dips, right? I believe it was this dip right here. We pulled back a little bit. We consolidated at about 197.05, 197.08. That's when I took my position. And then once we launched out of 197, we pulled back and we held it as a support and we continued to rise up. That gave me even further confirmation that we're breaking out of the resistance and we want to go back into the 200 level for McDonalds, right? So I got in again at about 197.07, 197.08. Then I ended up selling off as we started to truck up into the 198.50 level, 198.75, you know, close to that 199 level. That's when I ended up taking my profits and ended up being not crazy, not too crazy of a profit, right?  And for me, you know, that is really, really good. Think about it. If you're trading with $10,000, that's an $100 profit right there in about an hour. Let's say you're trading with 20 grand. Let's say you put in $20,000, 1% is $200 profit and so on and so forth. If you're trading with $30,000, you take a $30,000 position here, you're managing your risk, you're watching it, you're keeping an eye on the trend, you can make $300 in the matter of about an hour, two hours just trading McDonald's stock. So that's all I ended up doing today, guys. I'm not going to lie to you all. I was tempted, I was really tempted today to take about a little trade in SQQQ. We can see here on the one day, one minute, I was actually going to get in right here, but I did not want to get greedy. I would have made money there. I would have made money, but we can see it crash shortly after so I made a decent decision by not getting in. If I wasn't able to take the profits, I would have lost everything, not everything, but I would have lost my gain there. And there are times, guys, where I, again, like I talked about in yesterday's video, I'm typically taking my profits and then stopping for the day, but there are days where I take my profits and then I'm like, okay, maybe I could trade this and make some more money, right? I'm a human too. I'm trying to get my emotions under control a lot like you guys are. It's just a part of the game. And I didn't take the position and I'm glad I didn't take the position, but I figured I'd mention it. I almost did take a position in SQQQ today because I was noticing the markets selling off more towards the middle of the day here before we did get that little push towards the end of the day. If we're just looking at the S&P very quickly before we talk about very quickly some other stocks that I'm watching, we did notice the big sell off before we ended up popping back up. So, that's pretty much it, guys, for today's market update video. Excuse me. Tomorrow, what I'm going to be watching is, you know, mostly these, again, these market ETFs, right? The SQQQQ, the TQQQ, those two leveraged inverse ETFs. I'm watching those very closely, right? SQQQQ is going up when the NASDAQ is selling off at a 3X rate. Let's say the markets go up tomorrow. Let's say the NASDAQ does well tomorrow. TQQQ is going to be going up along with that, which is a bull ETF that follows the NASDAQ. It goes up at a 3X rate when the NASDAQ is going up, right? So, 1% green for TQQQ. That will mean, or for the NASDAQ, rather, that will mean a 3% day for TQQQ, right? This is the TQQ ETF. You guys can see it's up about 1.19%. NASDAQ ended up closing at about 0.4%, and you guys can see 0.4x3. What is that? That's 1.2, right? That's how it ends up being calculated here. So, in terms of stocks, there actually is an interesting one that I am watching right now, and that is J&J. They actually had some, I forget exactly what happened. I didn't look too deep into it, but there was some news. And if you guys remember what ended up happening, it was yesterday or the day before that caused the stock to tank, drop a comment and let me know because I'm forgetting off the top of my head right now. But there was some bad news about J&J. Drop the stock from 1.40 down to about 1.28. So, this is one that I'm watching for a potential rebound play here. We're noticing how, you know, it's been rebounding, honestly, since it did drop yesterday. We hit 1.28. We had a pretty flat day today. So, let's see if we're going to rebound back up into the mid-1.30s tomorrow. That's something that I'm potentially watching on, you know, J&J here. Another one that I'm watching in terms of ETFs, guys, is Drip. Drip has been going crazy over these past couple of weeks. We saw crude oil fell. I think it was an inventory problem, you know, oil fell. Crude oil got absolutely smashed today, guys, 4.08% into the red. So, if this downtrend issue or this downtrend pattern continues, I'd be watching, you know, DWT, which is an ETF that goes up whenever crude oil is selling off. Hence why it was up 12% today. It's a 3x ETF, right? 12%, if you guys saw. Crude oil was down 4%. So, it was up three times where crude oil was down. This is one that I'm definitely watching. So, let's say crude oil bounces up tomorrow. Let's say we see a bit of a rebound and a retest at that 50SMA, which I'm not too sure it's going to happen. Well, we could trade UWT in that case, right? UWT is going up whenever crude oil is going up. This could be a pretty good bounce back play. And Drip and Gush, they don't necessarily trade exactly on crude oil. They trade on XOP, which is an oil and gas-based ETF. This one got hit 3% nearly today, which is what caused Drip to do very well. So, I'd keep an eye, and what I am honestly doing is just keeping an eye on these oil ETFs. I see a lot of potential in them. I see a lot of margin of profits in them as long as XOP and crude oil are volatile. I honestly think these are going to be plays for these next couple of days. So, KO is another one. This one spiked up again, or it actually spiked up today. And this is actually another one of those value stocks that I was talking about in yesterday's video, literally the video called Two Value Stocks. I'm looking to swing trade. Go check that video out yesterday. I literally talked about McDonald's and KO, and literally both of them bounce today. And this is one that I'm looking for, a potential trade up to $50 per share. We're now, we broke the 49 level of resistance, which is what I was waiting for. And now, maybe a gap fill up to 50 will be a good move for tomorrow. So, those are just a couple that I'm personally watching, guys. Let me know down below in the comments section what you guys are doing. If you enjoyed this video, feel free to hit that like button again. It really supports me, and I appreciate every single one of you guys out there hitting that like button, subscribing to the channel, hitting the notification bell. It really does mean a lot to me. And if you guys want to be further connected with me, our community, all the links are down below, the StriveSmart Discord, StriveSmart Facebook, StriveSmart Instagram, my personal Instagram on Twitter. Everything is linked down below, so you guys can be further connected. So, I'll catch you all in the next video. Again, I appreciate all of you watching. It means a lot to me. Good luck. Peace out. I'll see you all tomorrow.


All right, good evening or here in London. It is evening. I'm looking out the window. It looks like it's sunset Here in London. It's it's actually quite pretty. I'm right in Chinatown in Soho London. It's it was a beautiful day freezing cold. Oh my god I didn't realize it got this cold in London. It was in the in the low 30s today So really really cold coming from Puerto Rico is kind of a shock to the system We'll see if I can avoid getting my getting a cold Getting sick with all the changes in in the weather, but I'm excited to be here in England. I'll be here This is a long trip for for one place. I'm kind of static for for 11 nights Tomorrow I go to oxford. I'll spend two nights In oxford, but other than that, uh, I'll be in London for nine nights Which is longer than I typically stay in one place. Uh, anyway in the world even at home so, um Yeah, it's good to be here. We got a lot of things going on 12 high school talks starting tomorrow with, uh Westminster high school, probably the best, uh, academic high school in in the uk and then, um Going to oxford for two two high schools in oxford tomorrow evening and then uh two high schools north of oxford in the midlands, uh on tuesday and then, um You know, we'll we'll see We'll see now We're gonna do is i'm going to answer questions that were posed by patreon contributors And who are voted on by, um by patreon other patreon contributors. So I think if you give 25 dollars a month or more At patreon.com uran brook show patreon.com slash uran brook show Uh, you can propose a topic for me to talk about And I think if you give more than 10 dollars a month or something like that, I'm not sure exactly You get a vote on them now, uh We'll see we might actually get to cover all the topics But I'm gonna start with the topic that got the highest votes and kind of work downwards so that if if indeed, uh For some reason the, um, uh We don't get through them at least uh, at least we got we got this We got the ones that got the most votes. So, uh, you get some credit for forgetting the most votes all right, um I hope uh, there wasn't a stuttering there in the video. It's it's hard to tell somebody says it's a nice hotel room Yeah, it's a very nice hotel room. I'm at the uh, w hotel in lester square I like w's and and this is a particularly nice, uh, w and they treat me well. So they give me this is a particularly large room for this hotel the standard rooms are tiny and and have Weird configurations this one is is a reasonable Size and actually for the rest of my trip after I come back from oxford. They've given me a suite. So it's um, given that I stay 100 nights a year 100 or more nights a year have for the last, I don't know five six seven years at starwood hotels, which w is a part of They treat me well, you know, they they should I'm probably one of the best best customers in the world All right, let's get down to the questions. I'm not going to following the chat much Just too much going on. Uh, but let's let's start. So the first the first question was asked by ryan And uh, uh, this is the question personal values whims and human values How do personal values differ from whims? How does an individual identity identify his objective personal values? Or can he choose them? And how does he morally pursue them? Particular type of productive effort hobbies, etc How do the values we hold as individuals Differ from the values that we all share as a fact of being human. So that's a great question, right? A great question. So in the sense you've got certain values that are universal values The the values that are good for all human beings moral values moral values are Universal values honesty integrity productiveness reason and rationality these are moral values and they are Consistent for every human being every human being has these values. And how do we know that? By studying what is required for human existence for human beings to survive for human beings to thrive for human beings to flourish All human beings under pretty much any circumstances They must use reason. They must be rational They must be honest and you know, I did a whole show on honesty So so I think you know what I mean by that. So we're not going to talk too much about the kind of universal values the moral values and it's not just The seven, you know, the three cardinal values reason purpose self-esteem It can certainly be certain subsidiary values under those values that are still That are still universal or the same with virtues. So for example In the objectivist ethics courage is not a One of the seven virtues that iron man identifies But I think iron man would say courage is a virtue. It's just a subsidiary virtue Probably under integrity, right? So a person who has integrity Needs to have the courage to to to have the integrity, right? Courage is is necessary in order to achieve integrity. So they are there's a whole set of of universal values Healthy food is a universal value for all human beings Now what is healthy might be different for different human beings depending on your biology Maybe depending on the genome, we don't know exactly the science is still working on that but There's going to be a universal set of things and and think about it the other way around poison Is bad pretty much for everybody everybody suffers if they eat cyanide So those are the universal values. Those are the values that are necessary necessary for the achievement of Uh happiness for achievement of flourishing for the achievement of human success and and a good starting point for what the universal values and virtues are Is the objectivist ethics? It's it's on the value side Reason purpose self-esteem on the virtue side It's it's a seven virtues, but I also recommend reading Tara Smith's the virtuous egoist Where she talks about other virtues and other values and how they are connected to the main ones And to the extent to which they are universal On or or not, you know, so so So that's point number one, but the real question. I think that's being asked Is not so much about there we go. We were stuttering a little bit It's not so much about these universal values, but I think it's about personal values and differentiating between personal values and whims So and I think what you mean, uh, Ryan by human values I think you mean by that values the necessary for all human beings And I would call those kind of the universal human values the things that are universal to everybody to all human beings So what about personal values and whims first? How do we differentiate between personal values and whims well whims Are things that we want But the only reason we want them is because we have because we feel like it That's the essence of a whim. The whims are feeling. There's no thought given to it. There's no consideration. There are no facts being put forward It just you feel like it. So you do it That that's what a whim means. It just means a a a I don't know what the technical definition of where I probably should have I probably should have, uh Thought about that in advance, but it's it's it's instantaneous, it's It's emotional It's not thought out. It's not reasoned. It's not a product of rational thinking Right, so I'd say whims therefore out one shouldn't particularly in anything important when shouldn't Function based on emotion When shouldn't pursue Just things that make one feel good Independent everything else without having thought them through without having figured out are they harmful to me or are they good for me? Because if they're harmful to you Then you're gonna suffer if you just do them If you don't take into account the fact the knowledge That this is harmful, you know, um I feel like I feel like taking the cocaine Right cocaine is gonna give me a high. I feel like getting a high Making the cocaine of value in that Situation is based on whim because what would happen if it was based on reason To be based on reason would say, okay. Yes, I would get a high from the cocaine and that feels good That's not deny the fact that it feels great to to get a to get a sniff of cocaine but What are the consequences? What are the consequences to my health? What are the consequences to my mind? What are the consequences? What might I do when I'm on the high? Uh, what are the consequences if I get addicted to my wallet to my integrity to everything that I do? so a whim is An emotion that is not being thought through That is not being integrated That is the just stands on its own and and and we reject as any kind of value It's just a whim and it should be avoided. All right We've been talking about whims now.  So You know you want a Ferrari And yeah, there's nothing wrong about wanting a Ferrari and it can be rational to own a Ferrari but How much money do you make?  And again rationally not in terms of which one generates the greatest emotion But which one rationally is more important to you which one rationally will make your life better which one rationally Will enhance your life And if owning a home is more important Than Owning a Ferrari then the home has to be the primary value Not the Ferrari The Ferrari has to be lower in the hierarchy of values and you might never get to it You might never get to it But that's okay, right? That's what a proper hierarchy is and what is the standard for the hierarchy? The standard is you're flourishing the standard of your ability to attain success Your ability to attain happiness your ability to live the best life that you can live That's the standard by which you determine Where in the hierarchy of values each value needs to be So again, you've got certain universal values You've got certain values that are right at the top that are most important. They're most crucial And that Are the values That you must always make sure that everything else you choose must integrate into them So here's a great way to think about it. Your personal values must be values That integrate into the universal values with their universal values. So first and foremost, they must be rational They can't for example, it can't be a value that contradicts Honesty that contradicts integrity Or that contradicts your purpose which for most people is their career So, you know, I I love the beach. I want to go to the beach every day, you know and That could be a whim, but you do love the beach but in the context of Your universal values your cardinal values your purpose your career Yeah, I'll have to find time on the weekend to go to the beach and even then, you know Maybe if I'm in the beginning of the career, I'm working seven days a week Uh, I'm working seven days a week and then I'm gonna have to uh Oops the light went flying Uh, if I'm working seven days a week, I might not be able to go to the beach at all even on the weekend So that is a value that I'm gonna have to delay so You you set the hierarchy based on how important the value is relative To your flourishing relative to your success and relative to The the cardinal values that you hold the the universal values that the the values that are most important and most crucial to your survival right so, um Let's see if I've covered everything How does an individual identify his objective personal values? Well, you've got introspect You've got to figure out. What do I enjoy? But you also can't limit yourself to the things that you know You have to broaden you have to go try things out. Hey, some people really like, um I don't know. What would it be? Right? Some people really like watching sports. I've never really tried it. I don't know So, you know, let me try it. Let me learn the sport. Let me figure it out There seems to be some value. It's people I respect people I you know, I have some respect for they seem to enjoy it and and you go and try it and you go and see Is it for me? Is it something that I really can enjoy and if I learn about it? Will I learn more? So Don't limit yourself to just your experiences. They some people seem to enjoy really really good food Expensive food, you know, maybe once in a while I'll go to a fancy restaurant and see if I can learn to appreciate that It's like it's like but it's like, you know people who like to me I drink wine. I kind of I kind of like it I can't tell the difference between all these wines But they're people who who decide that they want to learn about wine and they go and they learn about wine and and some of them Probably drop off because at the end of the day They sip all the different wines and they all taste the same and it doesn't turn out that it's that important to them They drop on some people really make this a major hobby And they and they really become aficionados at it. So you can learn You know your personal values you can you can try you can experiment You can go out then and figure it out, right? It's just like it's just like music, right? So We all grow up grow up in a certain kind of music But who said that the music we grew up on Whether you grew up in the 80s or 90s or 2000s or whether you like country music or whatever How do you know that that's the best music for you? How do you know that that is the most enjoyable music for you? Because it you grew up with it So it's got a certain place in your heart because you associate it with certain memories of growing up But music is much more profound than that. Music can have much more of a greater impact than that So I would argue that one of the things I don't think people do enough of Is develop develop objective personal values in aesthetics in the arts You listen to different types of music particularly let's say classical music You know, which at least some people say is really really good and really really interesting You've heard people argue that you've heard people say it then then go try take a course in college on about You know about art Try to appreciate it take an art appreciation course a music appreciation course So personal values are not just something you have it's something you can develop It's something you can Learn it's something you can gain you can gain personal values so So again The framework the thing you integrate into always are the universal values Are the values that objectively necessary for human flourishing and then everything else has to be consistent and integrate With those values They have to be common and then you have to put them in a hierarchy. What is most important and what's the least important See you have to have an objective hierarchy of personal values where at the top are your universal values right, so You know family family might be Uh, you know your parents your siblings You know, you might love them. You might care for them. They might be really really important or they might not be You have to decide that rationally you have to assess. Do I enjoy the company? Is it a benefit for my life to be around them? You know, or is it harmful do do they do do they just cause me pain emotional pain? And and therefore I should spend less time around them or not spend any time around them at all so Every single thing every single one of your values you should question ask the questions Why do I like this? Is it consistent with my other values? Is it consistent with my goal to succeed and flourish and be happy with my life? and You know Is it rational? Is it something that really does promote my life? So that's and then of course in terms of your individual objective values personal objective values Go out there and seek new ones. Look at what other people enjoy People who are friendly who are friends of yours who who you admire or respect or are friendly with Check it out. You don't have to accept it because they do. I'm not arguing for second-handedness I'm just saying if other people enjoyed maybe you will go try it Test it out figure it out. All right, so um Technical problems looks like youtube has dropped but uh, so I'm gonna end here We'll try to load just this this single video up on and we will get to the other The other questions that people had On a future show. All right. Thank you. Thanks for listening. Sorry for the technical difficulties This is your on the run book show. You've been listening to living objectivism and You know if you like if you like this if you like these answers if you'd like to ask questions yourself If you'd like to vote on the questions being asked if you'd just like to support the show Then go to patreon.com Slash your on book show patreon.com slash your on book show and Support the show. All right Signing off from london. It's your on book. Bye everybody


headline news update. Hi everyone Basel Chapman here on this Friday last day of the week October the 8th and we're looking at the Dow unchanged right now 34,754 you can see this technique that I developed over the years the high of 35,631 on August the 16th in the Chapman methodology with a little V-shaped pattern but with a lower high and that created a little mini down channel which I call Chapman Wave inside track repellent zone and the Dow each time we try to spike even yesterday went to the little red line there couldn't get above the green line stored at the red line and pull back I actually like what's going on here at the moment because I think that that second arch formation is still in underway I think we've had a rotational correction when I hear reports I think there's a lot of nervousness out there and so we've taken off all the short positions we have only long positions we've had two new positions that have done very nicely I I think that overall this is the rotational correction is still under way but as I do my show coming up in the Tiger technicians hour in a few minutes time you'll see that there are actually many positives so it'll be surprises to the downside with really bad reports economic or whatever it is that really takes drags the market down to retest for the for the S&P trading at 4,406 right now up six points it hit that trendline and it's getting close to today Howard breaks above it getting to the 4450s is going to be key next week maybe today but maybe next week but certainly the gap supporting to the 4370 4365 areas really important to hold now this is going to be very important look the QQQ is struggling right here it hasn't even gone close to that trendline in fact hasn't gone to the 50 period moving average at 362.75 down a fraction got to watch this one closely because I still believe that the big tax is still digesting gains IWM Russell 2000 holding okay not showing really great support is that up 25 cents a 223 55 I like it in terms of its holding pattern but look at this golden a nice spike to the upside cannot keep it cannot hold it it's up 14 and 1774 I think the 1717 88 to 1792 level will be a real test for it and crude oil is still holding quite well I'll be back in a moment for that oh crude oil is up again I'll be back for the Tiger technicians out