Market Misfits

Calm Now, Vol Later (EP. 12)

On this episode, Joe and Smiddy break down the melt-up into OPEX and why the real move might come after. They explain how gamma is pinning the tape short term, but once it rolls off, positioning gets freed up — setting the stage for potential macro fireworks in August. They talk about the short gamma dealer problem that could push past ATH and dig into McElligot’s "crash” thesis. Plus: trader psychology during slow summer chop, recent wins and losses from the room, and a few rants on overvalued names and $30 sandwiches.
 
DISCLAIMER: Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. All opinions expressed by anyone on the podcast are solely their own opinion.

Wall St. Jesus Flow Show: 06/05/25

Join Wall St. Jesus and the rest of our community each Thursday after the close for the best, FREE analysis of market activity you can find.
Wall St. Jesus takes you through the most important options flow, vital changes in sentiment, and so much more. For equities, futures, and options traders of all time-frames, there's no easier way to understand how smart money is positioning itself and what you can do to take advantage of it.
 
DISCLAIMER: Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. All opinions expressed by anyone on the podcast are solely their own opinion.

Market as a Mirror: Discipline, Loss, and Self-Discovery ft. Marsh (EP. 11)

In this special episode of Market Misfits, Steamroom Trading CEO Charlie Bathgate sits down with Marsh — a community member whose trading path is anything but typical. From putting $150K in a penny stock trade to walking away from the market entirely to go all-in on education, Marsh shares an unfiltered look at what it takes to grow not just as a trader, but as a person. This conversation dives deep into psychology, discipline, and what it really means to stay relentless.DISCLAIMER: Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. All opinions expressed by anyone on the podcast are solely their own opinion.

Wall St. Jesus Flow Show: 05/29/25

Join Wall St. Jesus and the rest of our community each Thursday after the close for the best, FREE analysis of market activity you can find.
Wall St. Jesus takes you through the most important options flow, vital changes in sentiment, and so much more. For equities, futures, and options traders of all time-frames, there's no easier way to understand how smart money is positioning itself and what you can do to take advantage of it.
 
DISCLAIMER: Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. All opinions expressed by anyone on the podcast are solely their own opinion.

From Max Short to Melt Up... What Happens Next? ft. Wall St. Jesus (EP. 10)

Wall Street Jesus returns to Market Misfits to break down exactly where we are in this market cycle. Jesus, Joe, and Smiddy dive into what changed under the surface, why CTAs and vol control funds are no longer max short, and how we went from extreme bearish positioning to a slow shift toward euphoria. They dig into flow data, market structure, and sentiment risk — and what it means for the next leg.
Also in this episode:– How systematic flows triggered a violent rally– Why the same names keep catching flow– The red flags behind melt-up behavior– What setups WSJ is watching under the hood– “Trade or Fade” returns
Plus, Wall St. Jesus shares how managing client money taught him the hard truths of trading, and why staying on the sidelines is a skill most traders ignore.
 
DISCLAIMER: Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. All opinions expressed by anyone on the podcast are solely their own opinion.

Held Up By Flows.. Cracking Under The Surface? (EP. 9)

The market is grinding higher, but Joe and Smiddy aren’t buying it. In this episode of Market Misfits, they break down why flows — not fundamentals — are holding everything together, and how one headline could crack it all. They revisit Cem Karsan’s 35 percent drawdown roadmap, walk through McElligot’s latest volatility triggers, and explain what dealer positioning is saying under the surface.
Plus:– How Joe is playing VIX, uranium, and silver– Smiddy’s brutal Moderna drawdown and what it taught him– What systematic funds are doing right now– Trade or Fade returns with MSTR, Amazon, and ARM
 
DISCLAIMER: Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. All opinions expressed by anyone on the podcast are solely their own opinion.

Are We Headed for a 35% Crash? (EP. 8)

Joe returns from vacation to find the market went full chaos and Smiddy was in the middle of it. They break down a brutal $4M drawdown and the comeback to breakeven.
Plus: Cem Karsan says the market could drop 35% to 45%—slowly and painfully. Joe and Smiddy break down what that means, why this isn’t your old bull market anymore, and how they’re navigating the chaos using gamma and dealer positioning.
 
DISCLAIMER: Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. All opinions expressed by anyone on the podcast are solely their own opinion.

Wall St. Jesus Flow Show: 04/17/25

Join Wall St. Jesus and the rest of our community each Thursday after the close for the best, FREE analysis of market activity you can find.
Wall St. Jesus takes you through the most important options flow, vital changes in sentiment, and so much more. For equities, futures, and options traders of all time-frames, there's no easier way to understand how smart money is positioning itself and what you can do to take advantage of it.
 
DISCLAIMER: Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. All opinions expressed by anyone on the podcast are solely their own opinion.

Wall St. Jesus Flow Show: 04/03/25

Join Wall St. Jesus and the rest of our community each Thursday after the close for the best, FREE analysis of market activity you can find.
Wall St. Jesus takes you through the most important options flow, vital changes in sentiment, and so much more. For equities, futures, and options traders of all time-frames, there's no easier way to understand how smart money is positioning itself and what you can do to take advantage of it.
 
DISCLAIMER: Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. All opinions expressed by anyone on the podcast are solely their own opinion.

Market Bottoms: FOMO vs. PATIENCE w/ Ron Friedman (EP. 7)

Is the market bottom in, or is this just another head fake? In this episode of Market Misfits, Joe, Smiddy, and special guest Ronch break down the latest market moves, how they’re trading through the uncertainty, and why FOMO can be a trader’s worst enemy. They debate the fate of Boeing, the rise of quantum stocks, and whether it’s time to fade the recent rally. Plus, the return of Trade or Fade—will the crew get it right this time? Tune in for unfiltered trading insights, market banter, and plenty of laughs.
 
DISCLAIMER: Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. All opinions expressed by anyone on the podcast are solely their own opinion.