S&P Futures: -33 vs FV.
Nasdaq Futures: -395 vs FV.
10-Year Note: 4.48%.
2-Year Note: 4.06%.
3-Month T-Bill: 3.71%.
US Dollar Index: -0.21%
WTI Crude: $95.27.
Gold: +0.67%
Silver: -0.15%.
Bitcoin: -4.61%.
Position: Long physical gold & silver
Rise and shine, cupcake. It’s Thursday morning and the pitchforks are out. Time to get after it. ]No, Wednesday wasn’t just a bad dream. Nasdaq futures are trading “ugly” this morning while S&P futures are simply trading “in the red.”
Dougie is off today. It is I, Sarge. I will be your tour guide for the day, so let’s crank it up. Coffee, push-ups (or some personally appropriate activity), repeat.
I, I’m invincible
I’m indestructible
It’s my destiny
I’m invincible
I’m unshakable
Through the truth in my soul
– John Cooper (Skillet), 2000
Rock on, my brothers and sisters. Helmets, flak jackets, gas masks and three sources of water. I want everyone out on the parade field with their gear in fifteen minutes.
Now, move…
Position: None
Position: None
With S&P futures -73 handles (following large declines in reporting companies CrowdStrike ($CRWD) and Broadcom ($AVGO) I am covering some of my shorts from yesterday and this morning:
* $SPY $752.18
* $QQQ $741.69
From last night and during Tuesday’s regular trading session:
At 4:55 PM Tuesday I added to index shorts:
Position: Short SPY (L), QQQ (L)
BY Doug Kass · Jun 3, 2026, 5:45 AM EDT
I moved from large-sized to medium-sized.
Position: Short SPY (M), QQQ (M)
Investment short, Sleep Number ($SNBR), prepares for a bankruptcy filing.
A perpetual short that never has to be covered!
Position: Short SNBR (VS)
At 4:26 PM:
After-Hours % Advancers
After-Hours % Decliners
Position: None
Closing Volume
– NYSE volume 3% below its one-month average
– NASDAQ volume 5% below its one-month average;
– VIX index: up 1.84% to 16.06
Breadth
S&P 500 Sectors
% Movers
Nasdaq 100 Heat Map
Closing S&P 500 Heat Map
Position: None
I don’t think today’s decline in cannabis stocks makes much sense.
I have gotten aggressive with $MSOS on a scale lower.
My average cost is about $4.76
Position: Long MSOS (M)
In one of the first times in a long time, I am adding to my short index position on weakness:
* $SPY $755.35
* $QQQ $744.58
Position: Short SPY (L), QQQ (L)
