Weekend Wall Street #45 - IPO's, Powell, and Sports Betting (6/20-6/23)
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Happy Sunday everyone and welcome back to Weekend Wall Street!
I am going to be on a flight and will land on Tuesday night. I have two trades I would like to add this week and if I get a good entry I will alert to my members.
If you’ve never read my Weekend Wall Street I cover: recent trends and their impact to the markets, upcoming catalysts for every day of the week (such as Fed speakers or notable investor days), SPX TSLA AAPL and one other chart of the week with levels, insider trades, top shorted stocks, options flow, and biotech stock catalysts.
Let’s get into it.
The market went on a rampage into OPEX where we finally got a glimpse of some sellers. This strength is killing every permabear who ignored what the charts and tape was telling them and that is exactly what the markets were meant to do: kill those who don’t adapt. For example, a few months ago, Big Short Burry (Michael Burry who famously shorted the 2008 crash) tweeted this admitting he was wrong and he flipped very long.
Remember that the markets employ the smartest people, they are always ahead of you, so this is your friendly reminder to adapt!