PPI scorched and the Russell opened green.
What the market is reacting too is the idea that the market needs “free money” specifically it needs the Fed’s money printer. What a lot of people don’t realize is the economy is chugging along right now anyways. The market doesn’t need “free money” when it’s got gambling money in it.
But market participants are reacting in very predictable ways because of the market memory. Obvious PUT trade setup on open. Less obvious Call trade after the initial reaction.
Still waiting on SpaceX IPO and share repurchases to stop. WIX got crushed today in part because they are buying back shares.
Lots of stuff moved today. Sellas Life Sciences moved after announcing the 78th patient died. If you don’t follow biotechs for cancer trials the “events” that are counted are deaths. So since February 2020, 78 out of the required 80 people have died. We have no position in this stock and I give it a 4% chance the trial shows significance. It did trip ACC and takeoff so there was a signal (golden diamond.) But, we did not enter. The funds and investment banks involved in this we just avoid.
Companies often take a molecule known to be safe and just throw at the wall and see what disease it sticks to. This is one of those cases. Maybe they will get lucky. But, most likely SLS has just run a very long trial and sold $400mm in shares.
C4 Therapeutics announced earnings and that they received a milestone payment. We (the family) and I personally own quite a lot of this stock. Again, gold diamond → go up.
Whitehawk Therapeutics raised capital today privately. Mostly unregistered warrants. Again gold diamond → go up. We own a lot of this one as well.
And finally, something different Mainz Biomed NV err Quantum Cyber NV (sorry) announced it has drones in March and today announced some bullshit. It too tripped ACC/Consolidation recently and was in an FST. Maybe surprisingly (or not) we did own this this morning but sold this afternoon. This could easily make 1000% or just die forever.
Does this look like a place that is making defense drones?
— AJ
Event Horizon Tools
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