Amazon is higher by 10% in the AHs after earnings beat and the once great semiconductor company Intel is being hammered by 9% after a miss. Retarded companies like ROKU are diving back into the pits of hell on their earnings experiences and now we sit and wait for Apple to post. I sense Apple will be good and it highlights the fact that BIG tech is a monopoly and dominate others like ROKU into their graves.
THIS DOES NOT MEAN stocks trade up tomorrow. On the contrary, I believe we will trade lower and around the island of Amazon — because at a minimum we are overstretched and due to a pullback. But if we don’t, I am bullish on crypto miners like APLD, RIOT and monkeypox stocks like TNXP, INO and CMRX.
I know those are shit stocks, but that’s what I’m left with.
I finished the session near my highs, +116bps, in spite of having 15% of my book in inverse ETFs. I still have them and 38% cash — trading leisurely into the summer months with grace.
UPDATE: APPLE COMES IN WITH SLIGHT BEAT; STOCK IS +2%
US TREASURY SECRETARY YELLEN: THE UNITED STATES IS TRANSITIONING FROM AN ERA OF FAST RECOVERY TO ONE OF STEADY, SUSTAINED GROWTH WITHOUT COMPROMISING GAINS.
Recession is now 'sustained growth'
— The_Real_Fly (@The_Real_Fly) July 28, 2022
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