Sloppy close, but what could we expect? We ended +102bps for the session. Moves included starting DELL because of their terrific quarter and the fact that SMCI is under investigation, adding to GLW, BHP and XLK. The marines are scheduled to arrive in the Middle East on Friday, just in time for Trump’s latest deadline....Read More

We are off session highs after contradictory reports are on the tape. This morning Trump saved markets from a plunge with a post regarding peace talks with Iran and a 5 day delay on bombing their power plants. Mid afternoon Iran said no such talks are taking place and they are at war. I suppose...Read More

Two things always happen during rough periods in the market.The world is ending. It’s definitely different this time. We are so oversold, extreme bounce is imminent. These two schools of thought compete for market dominance amidst the bones of a once great market. Inevitably, stocks go up and all of the bears are dispatched unceremoniously....Read More

Interestingly, the most down stocks MTD are mostly the ones that outperformed best in the “broadening out trade” of early 26. AG is off by 42% month to date, essentially round tripping all of its gains.Conversely, AMD is up 1% for the month, but off 5% for the year.Basically, everything has been reset. What do...Read More

At some point I want to do a long form post about power and status quo, reminding you of the things we already know intuitively but sometimes pretend to not see or think are in abundance due to feeeeeelings of populism. One thing I know about what we are seeing now is the tape is...Read More