6/10 Recap

Fairly slow session today, we have CPI and the fed this week. There aren’t going to be alot of people willing to put on big positions before such huge catalysts. We also have a big event from Apple which still remains one of the heaviest weightings in the SPY. Nothing really notable to discuss right now, we’re just flagging over the 8 ema and likely don’t get much of anything until we see the numbers Wednesday morning.

The one thing that should concern investors now is all this talk we’re having about rate cuts but the dollar should be going lower with all that going on but in 2 sessions it has ripped higher and reclaimed alot of key moving averages. It feels like everyone is positioned for the dollar to decline so we have to have 1 more rip higher first like we always do in every asset to shake everyone before it begins its final descent lower. So just be careful if you’re short the dollar or positioning for a dollar decline this chart isn’t bearish at the moment but it probably will be in a few months.

Recent Trades

KKR - up over 11% today. I mentioned this saturday but really look at this trade right now, when it was highlighted in the recap thursday it was because of the short timeframe involved and the size. Friday it sold off to 97.xx and it now sits over 108. Those calls haven’t closed look at today’s volume, they’ve now gone from 80 cents to 4.30 for more than 5x in 2 sessions after KKR got S&P inclusion friday. What an insane trade and if you sold those September puts like I suggested, those went from 1.35 to 70 cents for a near 50% gain there as well. That is why you have to utilize these risk reversals, they add a layer of protection as well as profit. If you’re wrong, worst case you buy a good stock lower. You can either close that trade now or since you put it on for a credit, ride it out till September and see what happens, but making a few hundred percent in 2 days is usually time to close up.

Trends

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Discord Link

Alot of you messaged me over the weekend that the Discord link in the welcome email wasn’t working, I don’t know what was going on but here is a new link that should work