Volume
– NYSE volume 4% below its one-month average
– NASDAQ volume 5% above its one-month average
– VIX index: down 8.60% to 16.16
Breadth
S&P 500 Sectors
% Movers
Nasdaq 100 Heat Map
Closing S&P 500 Heat Map
Position: None
The market had a good day on Iran news, but the action was uneven.
Skeptic Ed Zitron on AI’s Brokenomics.
Position: None
Here’s the real reason, though, why the shares are rising.
The computer technician at my office just now asked me if I purchased the SpaceX ($SPCX) IPO.
Then, he went on to say, he owns it and also “a ton” of DRAM.
Position: None
A questionable Iranian “deal”, an emerging AI price war and corporate token spending restrictions, when combined with the news that chip producers in China are gaining market share were, in my view, ingredients for some profit-taking.
I was wrong in view.
In talking to some contacts, the short-selling community no longer exists.
We are in The Great Momentum Market (according to the CNBC panelists on Halftime).
Position: None
Position: None
As an Iran deal has landed (for real this time?) and SpaceX has taken off to a wild valuation, here’s my take on the market now.
No trades since my index shorts.
Position: None
