Nothing Here!
Positions: None.
Mag 7 Down $2.3T!; The SpaceX IPO Order Mystery; Semis Spring Back
Let’s check how far the Magnificent 7 market cap fell in June, a strange Korean broker drama, and Warren Buffett’s caution on Gates Foundation.
Another Marijuana Moment
Position: None
Mag 7 Action Improves, But Biotech Keeps Delivering the Real Wins
While reverse rotation drives Nasdaq bounce, poor breadth suggests it can’t be trusted.
Subscriber Comment of the Day
From Randorama:
Randy
Office CMBS Delinquency Rate hits 12.3%, the highest level in history
Position: None
Howling About the U.S. Fiscal ‘Mess’
Wolf Street howls about the U.S. fiscal mess.
Position: None
Tweet of the Day
Position: None
Weekly Sentiment Survey: Bulls and Bears in Equal Measure
While our team overwhelmingly continues to feel that risk is high, they’re not in agreement regarding what to do about it.
Oscillator Moves to Slightly Overbought
The S&P Short Range Oscillator moved to a slightly overbought at 1.70% vs. 2.24%.
Position: Short SPY (VS), QQQ (VS)
Early Morning Trading (4:30 AM)
Added to Index shorts with S&P futures about +10 handles:
* $SPY $741.87
* $QQQ $725.71
Position: Short SPY (VS), QQQ (VS)