I didn’t particularly like today’s tape. Plenty of micro caps are gunning whilst real growth names underwent harsh reversals. This morning we got hit with the sell rating by Deutsch Bank for ISRG — hitting shares. Unless really emphatic, I do not like battleground stocks.A look at the technicals of the SPY below indicates a...Read More

On Friday payrolls came in above-range at 139k, a little more than the $130k expected by analysts. What this does is, at least for now, put to rest the notion of recession, providing tinder for cyclicals to rally.Fridays run was as expected, but much more pronounced in the speculative small cap and high beta areas...Read More

This incredible spat between the world’s wealthiest man and Trump overshadowed the fact that stocks nosedived, once again, into the close. I fought like hell to keep us green and did achieve that, with +12bps of gains, crossed against a plunging SPY -0.52% and -0.83% for the QQQ.On the issue of Musk v Trump —...Read More

Headlines:*TRUMP: CALL WITH XI LASTED ABOUT 1.5 HOURS*TRUMP SAYS XI AND HIS TEAMS WILL BE MEETING SHORTLY, PLACE TBD*TRUMP: XI GRACIOUSLY INVITED THE FIRST LADY AND ME TO VISIT*TRUMP: WILL INFORM OF SCHEDULING OF THE SOON TO BE MEETINGMarkets appear to have liked those headlines; but it’s still about flat. All of this is secondary...Read More

Markets have stalled the past two weeks, with gains most abundant in semis and AI. A look at the SPY since the 16th of May reveals consolidation aka going nowhere.The NASDAQ faired slightly better with gains just above 1%. The major indices are heavily influenced by market caps and in that upper quartile the vast...Read More