Like The Almighty Wizard of Oz…
* Citadel is behind the curtain…
Position: None
Supply Shortage Takes Bite Out of Apple: 8 Key Items Shaping the Stock Market Friday
Euro-area inflation rises in July, Amazon soars, SpaceX-Tesla chatter, and other headlines moving stocks this morning.
The Market Has Changed Its AI Test
Four hyperscalers combined will spend $725 billion this year, but some are achieving better returns. The single AI trade era is over.
Howling About the Inflation Predicament
Wolf Street howls about the inflation predicament.
Position: None
The Situational Awareness Hedge Fund May Be the Tip of the Iceberg
* I continue to be wary of market structure risk and leverage in our system…
Position: None
Did Short Covering Ignite a Rally in the QQQs?
Bob Prechter once said that all rallies begin with short covering. Was today’s gain the start of something bigger?
Mr. Softee
“People don’t know what they are buying.”
– Michael Burry
I sold my Microsoft ($MSFT) long at $450.31 on the earnings-related gap yesterday morning after carefully reading the complete profit report:
As I have written, in a market dominated by machines and algos (that worship at the altar of price), traders/investors know everything about momentum but nothing about value.
Position: None
Oscillator Still Slightly Oversold
The S&P Short Range Oscillator remains slightly oversold at -1.46% vs. 1.61%.
I added to my index shorts this morning (505 AM):
*$SPY $746.06
*$QQQ $692.96
Position: Short SPY (VS), QQQ (VS)