Surf's up. Pain comes on the way down. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Don here... Jeff Bierman used to surf the California coast. Mavericks…The pipeline in Hawaii...Underneath the Golden Gate Bridge. He showed up this morning with a surfing analogy that crystallized exactly where we are in this market. The power of a wave isn't on the way up. It's on the way down. In today's Live Trading Room session replay, you'll see: - Why 7,000 is the curl point for S&P. The weekly hasn't broken yet. But if we get a fat red candle through this level, the pain starts midway through that break. Money managers are completely brain dead right now. They're shoving capital into the same mega-cap names without looking for rotations.
- The Goldman trader warning everyone should hear. Market expectations are no longer cheap. Hedge all known risks now. You're buying high and making your position more concentrated. The expectation of a rally isn't there anymore.
- Wall Street just eliminated 10,600 jobs. Jeff thinks 90% of analysts will be gone within four years. AI is more accurate, cheaper, and doesn't embarrass the firm. The students he's teaching at Loyola are devouring technical analysis because they understand fundamental models are backward looking.
- Why silver above $100 is a bubble waiting to pop. It tripled from April lows in eight months. When brokers raise margin requirements, you're closer to the end than the beginning. If precious metals come down hard, they'll bring stocks with them.
Jeff walked through his short on Las Vegas Sands. He captured almost ten bucks on the trade and closed it out. Now he's short Walmart from $120 looking for a move to $110. The NASDAQ hasn't made a new all-time high in three months. Tech isn't leading anymore. Half the Mag Seven looks like crap. That's not a bullish setup. → Watch Jeff explain the rip curl setup, why Wall Street analysts are getting fired, and where the next short opportunities are forming To your success, Don Kaufman
Chief Market Strategist, TheoTRADE
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