6/6/25 Recap

The SPY bounced off the 8 ema yesterday in an odd session where the market sold off on the spat between Trump and Musk. For now we’re still continuing higher with a rising 8 ema. It’s not everyday you have the CEO of one of the biggest companies in the world hinting that the President is a pedophile and seeking his impeachment only to see the President hit back with threats of cancelling his government contracts. It was our first China moment that I can remember. China cancelled Jack Ma and Alibaba a few years ago and it feels like that is on the table for Elon and Tesla right now. I’m very lucky I closed those short puts I had 2 days back or they would have been down tremendously yesterday. That is an example of why you should always look at relative weakness and not be afraid to cut the cord. That’s one thing you will see alot with me, I will cut anything when it isn’t feeling right, I would rather miss a move up on something than be tangled up in weakness. There is always another bullish setup somewhere and you do not have to nail every single trade you take.

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