This Psychedelic Biotech Play Could See a Leg Up After Encouraging LSD Trials
The speculative action is cooling but individual names keep working.
Monday Morning Market Metrics
Breadth
S&P 500 Sectors
Nasdaq 100 Heat Map
Programming Note
I have a research call at 11:30 p.m. which should last about an hour.
Positions: None.
Something’s Wrong… Where’s Wilson?
That’s not right. How can the price be going down? Something’s wrong. Where’s Wilson? What are they doing here? They are selling, Mortimer.
Watch what they do… not what they say.
Now Intel ($INTC) is a big seller of shares following the bounce off of the Situational Awareness lows last month.
Of course Intel equity is still about -30$t off the highs and they are still sellers.
This tells me something.
They all know.
Insiders selling.
The businesses themselves selling.
They all selling debt too.
Then the off balance sheet stuff.
“Not, yet. Almost. Now.”
Sell sell sell, Mortimer.
Positions: None.
Bond Prices Lower and Bond Yields Higher (Again!)
The bond market continues to be very weak.
This is a significant equity market headwind, imho.
Positions: None.
Chart of the Day: Is Our Homebuilder Play at the Bottom?
We think the stock is washed out here and is ready to start moving higher.
Adding to Index Shorts
On the rally I added to my index shorts:
* ($SPY) $774.16
* ($QQQ) $724.22
Positions: Short SPY M QQQ S
Tech (XLK) Vs. Financials (XLF)
From 9:40 a.m. ET.
Positions: None.
On a High Note: I’m Buying More Alto, Taking Aim at Another Stock
Here’s why I’m buying more Alto Ingredients, and looking to gun it for this stock.
GRNY Short
Shorting more GRNY ($GRNY) at $27.90.
Building position (intended to move to long sized) on a scale higher.
Positions: Short GRNY M