"If you want to be wrong then follow the masses." - Socrates

$SPCX With options on starting today, the first few sessions will be a volatility circus. New listings typically see very high IV, wide bid/ask spreads, and aggressive retail call buying. @SilbergleitJr and I avoid being the guys paying inflated premiums on Day 1.

Shiller PE Ratio is now just 3.5% away from passing the Dot Com Bubble as the most expensive stock market valuation in history 🚨🚨🚨

The market is experiencing a historic divergence: The ratio of the equal-weighted S&P 500 to the S&P 500 index is down to 1.1, near the lowest since 2003. This ratio is now below the 2008 Financial Crisis low of ~1.2 and is down -28% since February 2023, the biggest drawdown since the 2000 Dot-Com Bubble. Over this period, the S&P 500 has rallied 81%, more than double the gain of the equal-weighted index, at 34%. These massive gains have been fueled by technology stocks, with the Nasdaq 100 index surging 151% over the same period. Tech stocks are all that matters.

The market of 4-sigma assets

This is what worries me a little. The current vibes on the market among retail crowd, does indeed resemble the atmosphere of 2021.

Doc and I held $CLOV at $0.60 and are holding now at $4 . Nothing changed. Investment thesis is still intact. Trust the process. There will be signs.

There will be signs. Just like Doc and I have been telling you for years. $CLOV

$BB $BB.TO BlackBerry says that software, not hardware, is now the primary bottleneck to deploying more autonomous AI-enabled machines. The mismatch is more pressing as robots move into human environments, where reliability and certification demands are critical.💵

Semiconductors now make up a record 18% of the S&P 500

$BB $BB.TO The rumor in Ottawa is that the newly created Canada Strong Fund will buy into the Berries. BlackBerry secures highly sensitive government communications. Don’t be surprised when it announces that BlackBerry will be part of the fund for national interest.

Seems like momentum traders and algos are continuing to pile into $BB.

The S&P 500 has been doing the same thing since 1920 and almost nobody frames it correctly. A new technology arrives. Markets expand for roughly 25 years while that technology reshapes the economy. Then a short consolidation. Then the next technology arrives and does it again. 🔸Electronics: 24 years of expansion. 🔸PCs and internet: 25 years of expansion. 🔸AI and smartphones: we're in year 15. Every single consolidation phase felt like the end of the world. Every single expansion phase felt "too extended" by year 10. We've been in "too extended" territory for about 5 years now. The last two cycles ran for another decade after reaching this exact point.

A 20% gain in the S&P 500 tech sector in four weeks has happened only three times in 100 years. 1929. 2000. 2026. The first two times ended badly. The third just happened. The market is a great teacher. It just charges very high tuition for the same lesson.

First profitable quarter ever for $CLOV.

$QS Drones and defense aerospace are major growth markets for QuantumScape's high-performance solid-state battery. Just two QSE-5 cells power the drone in the video with absurd agility, and the pack still has enough energy headroom to handle a far heavier load.

Wingstop $WING is down 60% since they announced their AI-fueled kitchens last year.

The fact that The Wall Street Journal is promoting a BlackBerry article on Twitter on May 9, an article originally published on May 1, tells me $BB momentum is only just beginning.

To all beginner traders out there, participating in their first bull run, do yourself a favor and learn about protective bullish momentum strategies like bull call or bull put spreads. Don't get caught off-guard holding shares or calls when the big bros turn the wheel of fortune.

Stock market bubbles throughout history… AI stocks now ~40% of the market.

Great job @ryancohen.