I’m On A Boat.

Tale of the Tape

Good evening everyone. It’s Friday and, truth be told, we’ve initiated a small long position in tequila shots, so please take anything you read here this evening with a grain of salt and a squeeze of lime. 😉🥃🧂


The Jobs Report set the constructive mood this AM. We’re not bleeding anymore and, counter to the latest unreliable expectations, we actually added 2.5 million workers. 

Have a look at this fancy shmancy chart from NYT:

This was like gasoline on the fire and stocks blazed higher from the get-go. 

The S&P 500 closed up big +2.6% capping the best week in two months with an exclamation mark.

Small Cap Value was up 5%. Energy was up 7%. Royal Caribbean was up 24%. Carnival was up 16%. Occidental Petroleum was up 30%. Simon Property up 15%. Boeing up 11%. We could go on and on but it was bullish lolz everywhere you looked.

S&P 5003,193+2.62%
Russell 20001,507+3.79%
Dow Jones27,110+3.15%

Elevator Down, Elevator Up? 

Here’s a new twist on the old saying. It’s now “elevator down, elevator up.”

The Nasdaq Composite index closed at new weekly highs. Sheesh.

The S&P 500 is only down 1.14% YTD.

I’m On A Boat. 🚢

Yesterday, we highlighted airline stocks flying high off their lows. Today it was the cruise lines having a holiday in the sun. These stocks were en fuego 🔥🔥🔥:

Royal Caribbean Cruises $RCL +20.37%
Carnival Cruises $CCL +16.40%
Norweigen Cruises $NCLH +14.50%

The cruise lines have gotten torched in the fallout of coronavirus but after seeing days like today maybe things are looking up on the pool deck. 

Here’s the YTD performance. Not as hot.

Place Your $BETZ…

Roundhill’s new Sports Betting and iGaming ETF BETZ is off to a fast start if Stocktwits Investor Interest Data is any indication.

The ETF launched only 2 days ago but has already attracted over 1600 Followers on The Stocktwits Platform.

We chatted with Roundhill Founder and CEO Will Hershey earlier today for some details on the new offering and he had this to say:

We’re hustling, which is how you get to the right place at the right time.

Companies like Penn, Draftkings and Gan are hot for good reason.

State governments are going to need the tax revenues after this sudden recession and gaming is opening up. It is so early – the top of the first.

Bettors have been making due with Bulgarian table tennis and we’re on the cusp of big sports returning, the cusp of this long term trend.

Here’s $BETZ Top Ten Holdings:

Quote of the Day

Guidance is a bad business. We’re out. We’re not doing it anymore.

-Barry Diller Chairman of Expedia and IAC

So guidance doesn’t matter anymore…? 🤔

Here’s a link to the CNBC post.

Luxury Car Brands Are Cutting Jobs

Luxury car makers Bently and Aston Martin announced job cuts today. Bently will cut up to 1,000 jobs, roughly 25% of its staff. Aston Martin said its job cuts would begin in August. Who knows how long the economic impact of the coronavirus will last. Here’s an awesome photo of a brilliant automobile:

Welfare State

Scathing chart posted on Bloomberg today. Have we turned into a Welfare State? 😬😬😬

⚡️ Washington Monument ⚡️

Last night the Washington Monument got struck by lightning. Mother Earth is lashing out.

Check out this post from Popular Mechanics, How big of a bolt would it take to actually damage the structure? 

Links That Don’t Suck

Nikola Listing Gives Billionaire Founder a Chance to ‘Out-Elon’ Musk

Brooks Bros., ‘Made in America’ Since 1818, May Soon Need a New Calling Card
Animal Spirits: The Unluckiest Generation

This Bot Hunts Software Bugs for the Pentagon

The Sea’s Weirdest Creatures, Now in ‘Staggering’ Detail