After a long wait it is finally here - I am launching TradeCraft: Spotify: open.spotify.com/show/4QY39B… Amazon: music.amazon.com/podcasts/0b… Podbean: tradecraft.podbean.com/ Apple: podcasts.apple.com/us/podcas… The episodes will hopefully not only provide a strong foundation for everyone in their journey to becoming a consistently profitable trader but also the tools needed to maintain that career. Mindset will be a heavily featured in the episodes. There will be guests and of course - rants. Make sure you subscribe/follow the show!! Please leave suggestions or comments below that can help grow this podcast and its' content! Thanks!

Citrini recommending $GLD as a hedge is an interesting take. They are also very bullish on $SHOP and $DDOG Passing this along not only because their reports are well-researched but more importantly they tend influence Institutional behavior.

This whole discussion on whether someone should have a Trillion dollars is so disingenuous. First, let’s be honest - if Musk was out there donating his money to cure cancer nobody would be complaining. Most people have no problem with someone making a Trillion, they just have an issue with how it’s being spent. Second, if you’re poor and defending Musk, or objecting to the idea of taxing a Trillionaire more - what the hell is wrong with you? Seriously. Act in your own self-interest for once. Capitalism always finds its greatest defenders amongst those it helps the least and I say that as a die-hard Capitalist. Conversely, if you’re rich and criticizing Musk - again, what the hell is wrong with you? You clearly have no issue with wealth, but now suddenly there’s a magic line of “too much”? Just stop it, you sound jealous. You made your money, he made his - he just made more than you - get over it. As usual nobody is upset about what they should be focused on, such as the amount of unchecked power a Trillion dollars can give someone. The broken system isn’t one that allows a person to accumulate a Trillion dollars, but rather a system that allows that money to buy unlimited influence over elections or laws being passed.

Took $16 in profit off $SPCX

Took profit in $DRAM

Going long $DRAM here

Funniest shit ever - once again Iran says, "ummmm that is all BS there is no agreement - death to your whole family and burn with the hate of a thousand suns, etc..etc." and the market is like, yeah but we're kinda in a buying mood already so screw it

What a pathetic low volume day - $SPY can't even properly check the SMA 50 here

Market rallies in the past year partially because of the assumption that with the new Fed chair rates will drop.  Reality - Rates are probably going up Market rallies in the past month partially because of the high likelihood of a deal with Iran. Reality - We are now talking about a ground invasion. ORCL - last big earnings issues huge guidance warning and is down 11% Market today - meh - let's go up. Trying to correlate news with market moves is an exercise in futility.  Price action matters.

Took really nice profits on the $BROS trade I mentioned in the Spaces yesterday

Here is the link to today's recording: x.com/i/spaces/1qGoNNwprRlKv…

Always a great watch!

Starting in 10 minutes!

Live Spaces today at 11am (pst) / 2pm (pst) Set a reminder for my upcoming Space! x.com/i/spaces/1qGoNNwprRlKv

$SPY - Bull Case: Trendline from the bottom of 4/16 - it has 6 touches on it (the more touches a Trendline has the strong level it becomes) - plus it is over all SMAs (note the first one is the SMA 50 at 717.45) Bear Case - it is below the EMA 21 which is 742.02 - however it is not that extended from it, which could just be a mean reversion here.  That indicates that a good response or even a muted response to CPI could send it back over. If I were to look at on just a purely technical basis I would say SPY is bullish with a slight technical pullback below the EMA 21 but held up but a decent Trendline Support. However, if we do not cross back over the EMA 21 soon OR we break that Trendline at $734.50 we become very bearish So while I am not ready to be "Bearish" yet at the moment we are close on a technical basis:

Elevated IVs - $SPY over the SMA 21 - this is a perfect Put Selling environment right now

We are back over the EMA 21 on $SPY - decent start if we are to return to a bullish trend.  Still not convince this isn't a dead cat bounce, nor am I convinced that dead cats bounce at all

On Monday the market will:

I saw posts claiming that the pullback on Friday was partially due to accounts freeing up cash for the SpaceX IPO. I’m not sure I can put into words how monumentally stupid that is to even think. Yeah, no, I can’t - it’s just really really moronic.

The latest episode of TradeCraft has just been posted! PDT is Gone: Opportunity or Disaster? Podbean: tradecraft.podbean.com Apple: podcasts.apple.com/us/podcas… Amazon: music.amazon.com/podcasts/0b… Spotify: open.spotify.com/show/4QY39B…

Looks like my $SNDK Put will expire worthless and I will take the full profit