Infuriating session, as the rotatoors came back in full force to “broaden out” the rally bidding up shit stocks with reckless abandon. Best way to describe today is this:There are 500 stocks in the S&P, 50 of which have led the market and are overly weighted. The other 450 have been subjugated to orphan status...Read More

I had to check out early today because Mrs Fly is renovating the master bathroom and she needed my expertise on picking out tubs, tiles and vanities, to which my answer is, as always, “whatever you want hon.” Long ago I used to care about such things, partake in choosing tiles and tubs, almost interested...Read More

It looked promising in the morning, but ended up to be nothing more than summer slop.We managed gains of +4bps, cash levels still ~15%. We culled the HOOD position by 25% sold ETHA, KWEB, TER, added to C, TMUS, MS, new position in SNOW in light of the carnage in software names, added to MU...Read More

I asked ChatGPT to cobble together all of the market crashes since 1800 and to predict the next one, based upon mathematical symmetry in the duration between crashes.Here are the great panics in recent history:Based upon the data above, ChatGPT informed me the next crash would beckon upon us between 2029-2034, which makes me feel...Read More

Underneath the veneer of the heavily weighted indices (7 stocks now comprise 40% of the SPY), there were lots of downside divergences and massive money flowing into mega caps. Observe.Almost all sectors were down, on the whole.Here is where the money went.And here is where it didn’t go.Cloud stocks are at the forefront of the...Read More