November 21, 2025 • 7 mins
LISTEN and SUBSCRIBE on:
Apple Podcasts: https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608
Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i
WATCH and SUBSCRIBE on:
https://www.youtube.com/@WatchdogOnWallstreet/featured
Forget the pundits and fake explanations. Chris tells the real story behind the sudden market collapse following Nvidia’s stellar earnings—how retail traders loaded up on leverage, how institutional giants saw it, and how they turned the market against them in minutes. A hard lesson in market structure, risk, and why trading against the house is a fool’s game.
Apple Podcasts: https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608
Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i
WATCH and SUBSCRIBE on:
https://www.youtube.com/@WatchdogOnWallstreet/featured
Forget the pundits and fake explanations. Chris tells the real story behind the sudden market collapse following Nvidia’s stellar earnings—how retail traders loaded up on leverage, how institutional giants saw it, and how they turned the market against them in minutes. A hard lesson in market structure, risk, and why trading against the house is a fool’s game.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Listen up, pay very close attention. I'm gonna give you
the reason, not the bull excrement that everybody's trying to
tell you, that Kramers tell on you, all these other
pundits out there. Maybe the Fed mustine a little bit
more hawkish and maybe they're not going to lower rates.
And why the markets reversed yesterday on.
Speaker 3 (00:36):
Essentially no news. How did that happen? And again, I
tell you this all the time.
Speaker 2 (00:43):
Okay, I tell you this all the time because I'm
getting the messages.
Speaker 3 (00:47):
I don't understand.
Speaker 2 (00:48):
If Video's earnings were awesome, the market should have gone up,
and why he has lost all his money and all
blah blah blah blah blah blah. Okay, markets can go
down on very good news, markets can go up on
band news. It's a market. But yesterday, yesterday, I watched it,
I watched it happen, and I knew around ten quarter
(01:13):
to eleven I knew it was on. Okay, let me
explain to you something. I'm going to put this in
terms of playing cards. Again, pay very close attention. Would
you ever play cards? Would you have play poker against
somebody that had a hell of a lot more money
than you have. Let's say they've got millions of dollars
(01:34):
and you've got a couple hundred bucks plus they know
every card that you have. You have to show them
your hand. Would you ever play cards in that situation? No,
you'd be like, hell, are you talking about Markowski? I
would be a fool to do something like that. That
would be dumb to do something like that. You know
(01:58):
what else is dumb? Thinking you can be some sort
of great trader and you can out trade the Citadels
of the world, these big investment firms, all.
Speaker 3 (02:10):
Of this stuff. You think you can beat them, do you? Yesterday?
Speaker 2 (02:17):
Market's rocket off like a rocket on Nvidio news. Their
their numbers couldn't have been better for crying out loud.
So so you, as a trader, go out and you start.
Speaker 3 (02:33):
Buying Bye bye, bye bye, I'm gonna buy more, and.
Speaker 2 (02:36):
I'm gonna I'm gonna, I'm gonna buy a leverage I'm
gonna buy options, I'm gonna buy single stock ETFs and
do all sorts stuff, pump all of this leverage into
the market. Now, you don't think that all of these
you're executing these trades and these people, you don't think
that they see what you're holding. They know exactly what
(03:00):
you're holding. They know exactly what's going on, and they
know you're levered. Okay, the old uh, the old lesson
from Charlie Munger, what what what makes what makes supposedly
smart people poor?
Speaker 3 (03:13):
Uh?
Speaker 2 (03:14):
Liquor women and leverage. That's the old Charlie Munger saying, leverage.
And that's what people did. They levered up. And aren't
you all of these firms that I think you're so smart?
They reversed it. They reversed it. They started putting pressure
(03:35):
in the opposite direction.
Speaker 3 (03:37):
And they have more money than you, and they know
you're levered up.
Speaker 2 (03:43):
Uh oh uh oh.
Speaker 3 (03:45):
Yeah.
Speaker 2 (03:45):
Leverage can work to the upside, but they can also
crush it to the downside. And that's exactly what happened
between the S and P five hundred erased one point
five trillion dollars in market capitalization. Between ten and twelve twenty.
That's fifteen billion dollars per minute, for one hundred minutes
(04:08):
straight without a single headline.
Speaker 3 (04:14):
I didn't care. Client's fine. Did I get up in
the morning?
Speaker 2 (04:19):
Okay, and with all due respect, I know a hell
of a lot more than you do.
Speaker 3 (04:24):
Hell am, I got a.
Speaker 2 (04:25):
Hell lot more information, and then you're doing all this
stuff that Did I wake up?
Speaker 3 (04:29):
Did I?
Speaker 2 (04:29):
Oh?
Speaker 3 (04:30):
After the invidio? It's oh, I'm gonna start.
Speaker 2 (04:32):
I'm gonna go out there and lever myself up and
bye bye bye by all the AI companies. Yeah, no, no,
because you can get knee capped in a second. Okay,
it's it's it's not it's not fair.
Speaker 3 (04:48):
It's not right. But yeah, it's not fair. They can
do what they want to do, but you're playing their
game whide play.
Speaker 2 (04:58):
Why again, I'm gonna go back to cards. Would you
ever play cards against somebody? You got a couple hundred bucks,
they've got millions of dollars plus, they know what your
cards are. That's what you're doing, people, that's what you're
doing when you act like this.
Speaker 3 (05:15):
People got wiped out, Yes, wiped out. I'm getting a mess, kid.
I don't know what to do.
Speaker 2 (05:22):
You know it's all Johnny Fontaine's again. I don't know
what to do, but maybe you should have listened. Maybe
you should have listened. Maybe, maybe maybe you should become
an investor rather than a trader. When days like yesterday,
you're gonna forget them a couple of days, it doesn't.
Speaker 3 (05:41):
Matter, they're blips.
Speaker 2 (05:46):
How many times have I told you people, you never
let risk lead to ruin. Oh, but there was no
risk because there was nothing but good news exactly, Okay,
it is a market. How many times I've told told you.
Speaker 3 (06:01):
You can have great news.
Speaker 2 (06:04):
And the markets can go down.
Speaker 3 (06:06):
You can have horrible news and the market goes up again.
Speaker 2 (06:16):
I've seen this happen so many times, so many and
again it's easier for them now. I had the high
frequency traders before, but now now you know.
Speaker 3 (06:24):
With with Robinhood and all that, I mean.
Speaker 2 (06:27):
You're like, it's your easy marks, You're I mean, you're easy.
What was that movie Rounders with the card movie there
Matt Damon uh And I remember that they all the
card sharks there there. They go to Atlantic City and
they're paying against their playing against all the tourists, and
(06:48):
they're just drinking their milkshake that's what these trading firms
will do. Okay again, I'll sub reference again. You know
there will be blood.
Speaker 3 (06:57):
I have a straw.
Speaker 2 (06:58):
You can go all the way the room and into
your milkshake. I drink your milkshake. I drink it all up.
That's what they did to you, and they're gonna do
it again until you wizen up. Don't do stupid stuff,
(07:18):
stop trading, build a portfolio, build wealth. Invest watch dog
on Wall street dot com
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Listen up, pay very close attention. I'm gonna give you
the reason, not the bull excrement that everybody's trying to
tell you, that Kramers tell on you, all these other
pundits out there. Maybe the Fed mustine a little bit
more hawkish and maybe they're not going to lower rates.
And why the markets reversed yesterday on.
Speaker 3 (00:36):
Essentially no news. How did that happen? And again, I
tell you this all the time.
Speaker 2 (00:43):
Okay, I tell you this all the time because I'm
getting the messages.
Speaker 3 (00:47):
I don't understand.
Speaker 2 (00:48):
If Video's earnings were awesome, the market should have gone up,
and why he has lost all his money and all
blah blah blah blah blah blah. Okay, markets can go
down on very good news, markets can go up on
band news. It's a market. But yesterday, yesterday, I watched it,
I watched it happen, and I knew around ten quarter
(01:13):
to eleven I knew it was on. Okay, let me
explain to you something. I'm going to put this in
terms of playing cards. Again, pay very close attention. Would
you ever play cards? Would you have play poker against
somebody that had a hell of a lot more money
than you have. Let's say they've got millions of dollars
(01:34):
and you've got a couple hundred bucks plus they know
every card that you have. You have to show them
your hand. Would you ever play cards in that situation? No,
you'd be like, hell, are you talking about Markowski? I
would be a fool to do something like that. That
would be dumb to do something like that. You know
(01:58):
what else is dumb? Thinking you can be some sort
of great trader and you can out trade the Citadels
of the world, these big investment firms, all.
Speaker 3 (02:10):
Of this stuff. You think you can beat them, do you? Yesterday?
Speaker 2 (02:17):
Market's rocket off like a rocket on Nvidio news. Their
their numbers couldn't have been better for crying out loud.
So so you, as a trader, go out and you start.
Speaker 3 (02:33):
Buying Bye bye, bye bye, I'm gonna buy more, and.
Speaker 2 (02:36):
I'm gonna I'm gonna, I'm gonna buy a leverage I'm
gonna buy options, I'm gonna buy single stock ETFs and
do all sorts stuff, pump all of this leverage into
the market. Now, you don't think that all of these
you're executing these trades and these people, you don't think
that they see what you're holding. They know exactly what
(03:00):
you're holding. They know exactly what's going on, and they
know you're levered. Okay, the old uh, the old lesson
from Charlie Munger, what what what makes what makes supposedly
smart people poor?
Speaker 3 (03:13):
Uh?
Speaker 2 (03:14):
Liquor women and leverage. That's the old Charlie Munger saying, leverage.
And that's what people did. They levered up. And aren't
you all of these firms that I think you're so smart?
They reversed it. They reversed it. They started putting pressure
(03:35):
in the opposite direction.
Speaker 3 (03:37):
And they have more money than you, and they know
you're levered up.
Speaker 2 (03:43):
Uh oh uh oh.
Speaker 3 (03:45):
Yeah.
Speaker 2 (03:45):
Leverage can work to the upside, but they can also
crush it to the downside. And that's exactly what happened
between the S and P five hundred erased one point
five trillion dollars in market capitalization. Between ten and twelve twenty.
That's fifteen billion dollars per minute, for one hundred minutes
(04:08):
straight without a single headline.
Speaker 3 (04:14):
I didn't care. Client's fine. Did I get up in
the morning?
Speaker 2 (04:19):
Okay, and with all due respect, I know a hell
of a lot more than you do.
Speaker 3 (04:24):
Hell am, I got a.
Speaker 2 (04:25):
Hell lot more information, and then you're doing all this
stuff that Did I wake up?
Speaker 3 (04:29):
Did I?
Speaker 2 (04:29):
Oh?
Speaker 3 (04:30):
After the invidio? It's oh, I'm gonna start.
Speaker 2 (04:32):
I'm gonna go out there and lever myself up and
bye bye bye by all the AI companies. Yeah, no, no,
because you can get knee capped in a second. Okay,
it's it's it's not it's not fair.
Speaker 3 (04:48):
It's not right. But yeah, it's not fair. They can
do what they want to do, but you're playing their
game whide play.
Speaker 2 (04:58):
Why again, I'm gonna go back to cards. Would you
ever play cards against somebody? You got a couple hundred bucks,
they've got millions of dollars plus, they know what your
cards are. That's what you're doing, people, that's what you're
doing when you act like this.
Speaker 3 (05:15):
People got wiped out, Yes, wiped out. I'm getting a mess, kid.
I don't know what to do.
Speaker 2 (05:22):
You know it's all Johnny Fontaine's again. I don't know
what to do, but maybe you should have listened. Maybe
you should have listened. Maybe, maybe maybe you should become
an investor rather than a trader. When days like yesterday,
you're gonna forget them a couple of days, it doesn't.
Speaker 3 (05:41):
Matter, they're blips.
Speaker 2 (05:46):
How many times have I told you people, you never
let risk lead to ruin. Oh, but there was no
risk because there was nothing but good news exactly, Okay,
it is a market. How many times I've told told you.
Speaker 3 (06:01):
You can have great news.
Speaker 2 (06:04):
And the markets can go down.
Speaker 3 (06:06):
You can have horrible news and the market goes up again.
Speaker 2 (06:16):
I've seen this happen so many times, so many and
again it's easier for them now. I had the high
frequency traders before, but now now you know.
Speaker 3 (06:24):
With with Robinhood and all that, I mean.
Speaker 2 (06:27):
You're like, it's your easy marks, You're I mean, you're easy.
What was that movie Rounders with the card movie there
Matt Damon uh And I remember that they all the
card sharks there there. They go to Atlantic City and
they're paying against their playing against all the tourists, and
(06:48):
they're just drinking their milkshake that's what these trading firms
will do. Okay again, I'll sub reference again. You know
there will be blood.
Speaker 3 (06:57):
I have a straw.
Speaker 2 (06:58):
You can go all the way the room and into
your milkshake. I drink your milkshake. I drink it all up.
That's what they did to you, and they're gonna do
it again until you wizen up. Don't do stupid stuff,
(07:18):
stop trading, build a portfolio, build wealth. Invest watch dog
on Wall street dot com
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