Cracks in the AI Narrative? Margins Suddenly Matter
SpaceX is round-tripping, Cerebras is getting marked down on margins, and concerns grow around OpenAI and Anthropic.
Micron Earnings Present a Major Test for the Stock Market
Micron’s stock may be cheap, but it is technically extended, and a perfect quarter may not be good enough.
Things I Did Today
Here are today’s things:
* Covered 1/2 of my $SPCX short at $153.85.
* Covered brokerage shorts in $MS at $222.51 and $GS at $1,080.90.
* Covered tech shorts: $DRAM at $70.26, $SNDK at $2,051 and $MU at $1,099.
* Covered $IWM short at $293.33.
* Added to cannabis longs: $MSOS at $4.50, $GTBIF at $7.28, $TRLV at $8.55 and $VRNOD at $5.29.
Position: Long MSOS (L), GTBIF (S), TRLV (S), VRNOD (S); Short SPCX (VS)
Weekly Sentiment Survey: A Bit Less Bearish but No Less Cautionary
This week, the team seems a little more mixed. But still, worries abound.
The Setup Bears Have Been Waiting for Is Here
Here are the three things that triggered the selling, what to watch now and my strategy for this difficult market.
Is SpaceX the ‘Trap Door’ to a Global Tech Beatdown… or an Opportunity?
Here’s why it’s not a time to panic and my trading plan for navigating this weakness.
This Biotech Could Become a ‘Sleeper’ Hit
Let’s look at this rising biopharma name working on several neurological condition treatments.
Rocky Start to Iran Deal, Charting LESS Volatility, Bracing for Price Data
Let’s check the latest on the Iran deal after a bumpy weekend; also, how the bears, bulls and … Sarge sees the chart of the S&P.
Valuation Worries Build as Investors Run Out of Positive Catalysts
There isn’t much left to drive the market higher as we await second-quarter earnings.
Real Winners and Losers Emerge in Asia After Fed Meeting
Japan, Korea and Taiwan are setting new records, while a potential trade to exploit the high degree of leverage creeps into the system.