18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,013 Blog Posts


The SPY gained less than 1%, while the IWM shed almost 1% and the NASDAQ gained nearly 8%. It was a month filled with large cap tech breakouts, reminiscent of a time and place when homos led Wall Street. But all of that is over now and with it comes June. We’re already off to a miserable start with downside action to be rued in AI, CRM and OKTA.

My trading account gained 1.74% for May, while the quant was down 1.9%.

At the mid-point of the year, the quant is up around 1% and my trading is +32%.

But June wasn’t all shits and giggles. If not for the semis, the results would have been far different.

For example:

Apparel -13.5%
Auto Parts -13%
Discount stores -16%
Chinese burritos -12%
Ag -11.5%
Oil -10%
Chems -9.6%
Industrial Metal -9%
Copper -7%

On the whole, basic materials were DOWN 6%, consumer goods -5%, Utes -5% etc. According to Stocklabs, ALL stocks were down in the magnitude of 3% for June, so not exactly the banner month the major indices pointed to.

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