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Position: None

I have moved to large-sized short SPY (at $771.80).

Position: Short SPY common (L), calls (S)

Charts from 9:42 a.m. ET

I covered (SNOW) at $368.01

Positions: None.

I have reshorted (JPM) at $359.29

And I have taken a trading short rental in (SNOW) at $377.50 (with a tight stop).

Positions: Short SNOW S, JPM S

 I have moved to between medium and large sized (SPY) short at $769.08

Positions: Short SPY common M/L and calls S

Upside:

-SNOW +24% (earnings, guidance)

-CHPT +19% (earnings, guidance)

-HCM +13% (announces Licensing Agreement with GSK for KRAS-EGFR-Antibody Conjugate Cancer Therapy)

-DLTH +11% (earnings, guidance)

-AVAV +6.3% (Trump Administration places large tariffs on foreign-made drones; receives $465M US Army laser contract award)

-FIVE +6.2% (earnings, guidance)

-SMMT +5.9% (reports Phase III OS benefit for ivonescimab in PD-L1-positive locally advanced or metastatic NSCLC)

-CLYM +5.7% (reports Phase 1 data for CLYM116 in IgA nephropathy)

-PFG +5.7% (Samsung’s insurance units seek to acquire Canopius, PFG stakes in $6.6B deals)

-DPRO +5.1% (Trump Administration places large tariffs on foreign-made drones)

-NVST +2.3% (JPMorgan Chase and Co Raised NVST to Overweight from Neutral, price target: $32 from $29)

Downside:

-RARE -47% (missed primary and secondary endpoints in Phase 3 Aspire data for apazunersen in Angelman syndrome)

-VSXY -18% (earnings, guidance)

-APVO -15% (provides leukemia drug study data update)

-PLRZ -12% (prices 333,333-unit registered direct offering and concurrent PIPE for $4.0M gross at $12.00/shr)

-PSNY -11% (earnings, guidance)

-CPB -6.4% (earnings, guidance)

-FLNC -6.2% (Barclays Cuts FLNC to Underweight from Equal Weight, price target: $10)

-HPE -4.0% (earnings, guidance)

-AVGO -3.1% (earnings, guidance)

-MRNA -2.5% (hearing Rothschild & Co Redburn Cuts MRNA to Sell from Neutral, price target: $81)

-AI -2.1% (earnings, guidance)

Positions: None.

I just sold the balance of my (GLD) at $411.65.

GLD traded as low as $395 yesterday (we added) and is now $9 on the day and +$16 from Wednesday morning.

So, for now I am treating GLD as a trading sardine and, at the appropriate price, it will be a foundational part of the portfolio to take advantage of the secular and continued US currency depreciation 

Positions: None  

I moved from small- to medium-sized short (SPY) at $767.75.

Position: Short SPY common M calls S

I added to my (SPY) short at $766.61 on the jobless claims report.

Gold is benefiting from the report and is now trading at $410.24 (+$7.25 on the day and +$15 from yesterday morning’s low (where I added to))

Positions: Long GOLD S; Short SPY Common and Calls.

Source: TipRanks:

rolf thrane

Peter Boockvar argues that inflation is stuck at 3%–4% and that there is little the Federal Reserve can do about it while the federal budget deficit remains at 7%–8% of GDP. I think he is wrong. Not about the the Fed, but about what the likely  scenario that will play out is. 

1. A deficit of 7%–8% of GDP is clearly unsustainable—not necessarily because it guarantees persistent inflation, but because the economy cannot grow fast enough to stabilize the debt burden indefinitely. The ultimate consequence will be a substantially higher tax burden , potentially approaching Scandinavian levels, without necessarily receiving Scandinavian public services in return.
2. Inflation alone does not explain the 10-year Treasury yield. Unless the market is materially raising its long-term inflation expectations—which I do not believe it is—the higher term  yield reflects rising real rates embedded in the term premium. We may simply be returning to a more normal interest-rate regime: positive real yields, a meaningful term premium and an upward-sloping yield curve—the historical norm rather than the exception.
3. Inflation of 3%–4% is consistent with the combination of deficit-financed demand, resilient aggregate spending  and or lingering supply constraints. But none of those forces are  permanent. Supply pressures should ease as wars and geopolitical disruptions eventually abate. At the same time, higher real rates should restrain demand, while a stagnant or declining workforce limits the economy’s long-term growth capacity. Real economic  growth is not sustainable at 3 percent with a declining  workforce and stagnant population- we have seen that in Europe for 2 decades and in Japan for more than 3 decades. 

Position: None

Rick Friedman

I think it’s a big waste of real and mental capital to be buying cannabis stocks every day, while shorting pretty much everything else. Once a perma bear, always a perma bear.

stockrenter

What’s the saying? You can’t see the trees from the forest.

You lose sight of the rest of the Mkt & that prevents you from seing the many other opportunities, being so laser focused & mentally invested in 1 or 2 themes. From an institutional point of view there is no real $ commitment to the Pot names, they are all single digit names and a lot of funds can’t purchase sub $5 stubs. Also they are all Liquidity traps (aka Roach motels) you can get in but don’t have the Liquidity to get out. Any $ manager in his right mind knows that and why you never will see any real WS $ come into that sector …….If you’re in them recognize that & know what you’re playing for.

Dougie Kass

Rick:

It reflects my view that few stocks/sectors meet my standard of selection. 

I am long 15 stocks and short 22 stocks in Seabreeze Partners, my hedge fund.

Moreover, I do a helluva lot of trading long and short rentals daily/ weekly –  providing a menu of opportunity.

Position: None

Nice move off yesterday’s bottom for gold/GLD.

We added GLD at around $395 on Wednesday morning — now trading at $407!

Position: Long GLD (S)

The S&P Short Range Oscillator moved further into an oversold state at -1.86% vs. -1.69%.

Position: Short SPY common (S) and calls (VS)

* At 4:45 AM…

I reshorted CRM at $259.59.

Position: Short CRM (S)

* At 4:40 AM…

I added to my SPY short at $766.08.

Position: Short SPY common (S) and calls (VS)