What Happened Today?
Thursday July 2, 2026
MACRO:
Today is the market’s Friday since tomorrow is a Federal Holiday and as predicted Dow Jone’s Index closed at a record $52,900.07. Just off the intraday record.
Rotation out of tech and into biotech has been a good trade for the last few weeks. That trade might be weakening we will see.
MICRO:
Nkarta ($NKTX) continued to show strength. This is already up ~50% for us since tripping Acc/Consolidation. Today’s action is likely related to a earlier FDA update that made it into a not on some analyst’s report today.
I flipped Fate Therapeutics ($FATE) yesterday (partial fill) and was able to pick up 15 cents today on a re-entry. This is up over 160% from initial entry when it dipped below the channel.
Biotwitter doesn’t seem to know about either of these stocks. Which is just the way I like it.
So ssh!
Adicet Bio is likely to release data this upcoming week. There are unknown signatures here. In our database I can’t find a similar stock with that shark’s fin volume pattern that did nothing to the price.
Just an odds play at this point. Unfortunately this stock I have not been able to flip to lower costs. So holding this could be a very big mistake. I have set asks to catch any movement. Best case (for me) is they pre-announce the data is coming the following day.
INmune Bio ($INMB) the database is also showing Phase 2 data this coming week. I don’t think we own this one and the trial data might be stale but here is a chart anyways. Chart looks like we should own it I don’t remember it in any account.
At the mid point in the year the office is still on target to exceed 60%. That is the yearly goal.
The competition account is ahead of pace to reach its target of >70% for the fourth consecutive year. He is a review of what I am demonstrating with this account. If you want to know why I chose 70%. It’s because of Wikipedia.
If Kenneth Griffin feels proud enough about 70% in a year to have in his bio that should be good enough for anyone else.
That account closed June up 44%. You can follow along here.
My personal accounts are up 27 and 32%. I experiment in my IRA so it usually drags behind and then when I get one right it shoots up. Just a different approach to trading.
The fund I run for Shaun and myself is up 72% as of yesterday and still is batting 1.000% on the year. Someone challenged me last year to go an entire year without a loss. So far. So good on that.
I closed all hedges today. It was a very profitable 24 hours. I will re-open them next week. I plan on staying hedged until Sam Altman turns in a pterodactyl or a poor person. Or both.
I am still trading volatility intraday and today I made a few trades short/long intraday on QQQ options.
I have accepted this is the market we are in. Not the market I want to be in.
Adapt or perish.
— AJ