Tale of the Tape
Good Evening Folks and Welcome Back to the greatest game on Earth.
Stocks rallied again today. The Nasdaq Comp closed at 10,056 up 1%, an all-time freaking high. The rally off the March 23 low has been relentless and taken no prisoners.
May the Lord have mercy on the shorts. We’ve gone from envying them to ignoring them to mocking them to feeling sorry for them in the span of 3 months.
Ok, so we don’t really feel sorry. We’re still mocking 🤣🤣🤣
Even as stocks 🚀 almost daily in a frenzied oscillation between FOMO and YOLO, there are more and more traders out there, who are hemorrhaging as they add to underwater shorts.
We got this chart from David Ingles at Bloomberg. The S&P 500 Futures are the most heavily shorted in nine years.
This is not what you usually see at tops but who knows. 🤷♂️
| S&P 500 | 3,117 | +0.65% |
| Nasdaq | 10,056 | +1.11% |
| Russell 2000 | 1,433 | +1.05% |
| Dow Jones | 26,024 | +0.59% |
It’s Magical ✨
If you are long stocks that have been hot, they just keep getting hotter. It’s magical.
12 stocks from the S&P 500 hit new 52 week highs.
Here are 20 hot stocks that hit all time highs today:
It’s magical, but how long will it last? Place your bets…
New Apple Software
Apple unveiled IOS 14 and a whole bunch of other cool stuff at its annual WWDC. Here are a few things that were released:
- iOS 14
- Apple-designed chips
- Translate app
- Apple CarPlay and digital car keys
Find out more from Apple.
Winnebago En Fuego 🔥🔥🔥
Winnebago closed at all time highs today. $WGO traded as low as $16.94 intraday before flipping a V to all time highs.
$WGO is scheduled to report earnings Wednesday, June 23rd, before market open.
Camping World has been insane. It dropped to $3.87 on March 18th, today $CWH closed at $27.95. That’s over a 600% return in 3 months. 🤯
And Thor Industries, maker of the beloved Airstream, is hitting levels not seen since March of last year.
Camping has never been so cool.
Gold
The Sector SPDR Gold ETF, $GLD, closed at its highest level since December 2012.
It is only 11.75% off its closing high from the fall of 2011.
Here’s the chart:
22 Years Ago 🐐
Micheal Jordan graced the cover of three magazines on one day – Sports Illustrated, Fortune, and Time Magazine – June 22, 1998. 22 Years Ago Today.
No one has done this since. 🐐
h/t Darren Rovell
Links That Don’t Suck
🦄 Bill Ackman’s New Blank-check Company Will Be a $4 Billion Bet on a so-called ‘Mature Unicorn’
🚙 Are Our Roads Really Crumbling?
🐒 New Monkey Species Found Hiding in Plain Sight
🎤 Singer Akon Is Launching a Cryptocurrency Called Akoin
🎙 A conversation with Professor Jeffrey Sachs: Author, Economist & Globalization guru at Columbia University
💪 David Goggins – Stay Hard
