Category: Daily Diary

“Just one more thing.”

– Lt. Columbo

The vitriol on Twitter is growing ever deep and more hostile with the division that is permeating our country and with the schism expanding between the "haves" and "have nots."
Too many residing in Twitter's cheap seats are shrouded in anonymity – taking swipes under the…

— Dougie Kass (@DougKass) May 26, 2026

Position: None

After-Hours % Advancers

After-Hours % Decliners

Position: None

Closing Volume

– NYSE volume 3% above its one-month average
– NASDAQ volume 7% above its one-month average 
– VIX index:  up 1.86% to 17.01

Breadth

S&P 500 Sectors

% Movers

Nasdaq 100 Heat Map

Thanks for reading my Diary today.

I am off to a 4 PM research call.

Enjoy your evening.

Be safe.

Position: None

He’s back, my old friend, The Gnome of Zurich.

I have no idea whether this is true, but high above the Alps, The Gnome is telling me that several long/short hedge funds have blown up today (and are being forced to cover their shorts) in $SNDK, $AMD, $MU and some others.

Position: None

This should be a worthwhile watch: 

Looking forward to joining @TheDalesReport this afternoon at 4:00 PM ET to discuss Curaleaf's reverse stock split, uplisting readiness, and the evolving U.S. cannabis framework. $CURA $CURLF https://t.co/FTziQTzYaY

— Boris Jordan (@Boris_Jordan) May 26, 2026

Position: Long CURLF (VS)

Best long-term reward vs. risk in cannabis is $VRNO.

Position: Long VRNO (S)

Today I’m going to speak from the heart, and tell you that we’re ruled by f…..g imbeciles.

AI is a perfect storm of failed concepts and organizations, and the apex of the Era of the Business Idiot, an epoch where we’re ruled by people so thoroughly disconnected from the actual workforce that it was inevitable that a technology would be created specifically to grift them.

Just ask Aaron Levie, CEO of Box: 

CEOs are uniquely prone to AI psychosis because they’re sufficiently distant from the last mile of work that still has to happen to generate most value with AI.

LLMs are dangerous for many, many reasons, but the under-discussed one is how well they play to a certain kind of executive imbecile. Generative AI is — to quote Mo Bitar — really good at doing an impression of work, much like most managers and c-suite executives, and even if it’s completely incapable of doing something, it’ll absolutely say it can and tell you you’re amazing for suggesting it.

And that’s why Business Idiots love it.” 

– Ed Zitron 

Here is more, read on:

Revenge of The Business Idiot

Position: None

Thanks goodness that I heard on the noon show (Slink) that the consumer is well:

Position: None

I am adding to my cannabis exposure and buying July (monthly) $4 calls.

I like the risk/reward.

Position: Long MSOS common (L) and calls (S)