“Look kid, if you hear the missiles are flying, you buy them. You don’t sell them.”

— Art Cashin, Wall Street legend.

No doom and gloom here. That’s not our style.

We don’t get caught up in hot headlines or silly narratives. We follow trends — regardless of what’s going on in the world. 

And right now, one of the clearest, most durable trends on the tape is in Aerospace & Defense.

And maybe it’s because of this war here, or the geopolitical issues there. Or maybe it’s just because industrials are the leaders and this is a bull market.

Here’s the thing… There will always be wars, and fear will always have a significant impact on human behavior. 

I can tell you we’re buying these stocks because of some headlines out of Russia… but that wouldn’t be the truth. 

We’re...

If you aren't watching the US Open are you even working?

Leaving aside the finances of LIV and the PGA. You can also throw out the slow-growth, low-margin equipment business. I'm here for the outfits. These fittish, highly-strung men are soldiers in the global war for the soul of the most loyal, price-oblivious customers in all of retail: Men. All golf clothes are basically athleisure now. Men's athleisure is a $100b business and growing. 

Here's Justin Thomas and Brooks Koepka. 

Justin is wearing a $98 Talo Polo and $198 Sequoia Knit Trousers from Greyson Clothiers. Justin is one of the financial backers of Greyson, which just raised $20 million in Series A money. Greyson didn't disclose the terms but if the company pulls in, say, $50 million $250 million would be a ballpark guess. Other "friends of Greyson" include Jon Rahm, Shane Lowrey, and Justin Timberlake, who used to be big with the kids.

The Greyson website lets you cosplay as your favorite golfers with a simple click. And, seriously, any brand that works for Justin Timberlake and...

Every day, we sift through the filings to spot where the real conviction lies – cutting through the noise to highlight the most meaningful insider moves.

Here's what stood out today:

📌 Bausch Health $BHC – Billionaire hedge fund manager John Paulson just filed a Form 4 for a $14.7 million purchase.

That’s a massive insider buy from someone who doesn’t make quiet moves. Paulson’s conviction here speaks volumes – especially in a beaten-down pharma name trying to find its footing at a key level of support. 

📌 Builders FirstSource $BLDR – Todd Vance, president of the east division for BLDR, filed a Form 4 for $225,000.

Here’s The Hot Corner, with data from June 12, 2025:

Click the table to enlarge it.

📌 Mach Natural Resources $MNR – Director William Wallace McMullen filed a Form 4 for $3.4 million....

Today's number is... 437 

We’ve already seen 437 days where the S&P 500 moved ±1% in the 2020s — and the decade’s only halfway done.

Here’s the chart:

Let's break down what the chart shows:

• The blue bars is the S&P 500 ±1% days by decade.
• The gray bar is the average S&P 500 ±1% days by decade.
• The red bar is the S&P 500 ±1% days in the 2020s.

The Takeaway:

To put that in perspective, the average full decade — from the 1950s through to the 2010s — logged around 504 of these big-swing days. We’re already at 437, and there’s still nearly five years to go.

At this pace, the 2020s are set to become the most volatile decade in modern market history.

Not because of one-off shocks or extreme crashes — but because of the sheer frequency of large daily moves.

Historically, that kind of volatility hasn’t ended well.

More swings usually mean more stress.

But the 2020s? So far, they’re bucking that trend.

Despite all the whiplash,...

There's something happening in America I'm still wrapping my head around.

The country is building mini nuclear reactors all over the place to power academic institutions, artificial intelligence data centers, and the most successful companies in the world.

I don't think there's a better representation of how America creates wealth more than the energy abundance it's trying to create. Because let's face it, the only limitation to growth is energy. And as far as the smartest minds are concerned, the only constraint on energy is our ability to expand our generational capacity.

...

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When I started diving into markets back in 2018, bonds barely caught my eye. Now, they’re on my radar every single day.

Over time, I’ve learned just how important they really are.

You might not like it. Maybe they seem boring or too slow. Maybe you don’t trade them at all.

But the bond market moves everything else. It always has—and it always will.

For some perspective, the bond market sits at $140 trillion—far bigger than global equities, with gold, silver, and crypto nowhere near that size.

Every time the iShares 20+ Year Treasury Bond ETF $TLT gets down near this level, buyers show up.

Every single time.

If TLT is...

There weren’t any S&P 500 earnings reactions yesterday…

But a big newswire hit the tape this morning, and it's worth paying attention to.

Uber Eats announced a partnership with Dicks Sporting Goods $DKS and Golf Galaxy to offer on-demand delivery from hundreds of stores nationwide.

Yes, you read that right.

Sports gear, apparel, and even golf clubs are delivered to your door in under an hour.

It’s not just about convenience. 

It’s a strategic shift for both companies.

Uber $UBER has spent the past few years aggressively diversifying away from its legacy ride-share business.

They're already the largest component of the iShares Transportation ETF $IYT.

But they are determined to continue growing and rewarding shareholders.

• Delivery now generates nearly 40% of total revenue.
• Gross bookings in delivery hit all-time highs last quarter....

This post was originally for paid members only. It has since been unlocked for informational purposes and does not constitute financial advice.

If you want access to these trades in real time, sign up risk-free today!

Back in mid-March, we took a shot on $CRK as a natural gas play.

The stock was putting the finishing touches on a decade-long bearish-to-bullish reversal — and we nailed it.

We locked in profits, sold the double, and let the rest ride with zero risk.

But here’s the thing — those calls expire next week… and I’m not done with this trade.

Price has been coiling in a tight range just above the breakout level.

Call it a bull flag, a...

Here's the replay and chartbook from the June 12 Weekly Strategy Session.

Be sure to join us on Thursday at 11 am ET and maximize your return potential.

In today’s Daily Digest, we’ll review the following:

1. No new positions today.
2. Adjustment to USO position.
3. Closed TLT at Profit Target.
4. Current status of open campaigns.
5. Volatility Snapshot.

Let’s dig in!

Today's number is... 11

All 11 sectors of the S&P 500 are now trading above their 50-day moving averages — something we haven’t seen since October 14th, 2024.

Here’s the chart:

Let's break down what the chart shows:

• The blue line in the top panel is the S&P 500 index price.
• The black line in the bottom panel shows the number of S&P 500 sectors above their 50-day moving average.

The Takeaway: From defensives like Utilities and Staples, to high-flying Tech and Communication Services, every corner of the market is participating.

This kind of broad strength doesn’t come around often.

When all 11 sectors are trending above their 50-day moving averages, it signals a healthy, unified advance.

Not just a rally carried by a few mega-caps doing the heavy lifting. 

That kind of strength raises the obvious question: what typically happens next?

Over the past few decades, this “11 out of 11” signal has usually led to positive forward returns — though...

Every day, we sift through the filings to spot where the real conviction lies – cutting through the noise to highlight the most meaningful insider moves.

Here's what stood out today:

📌 AirSculpt Technologies $AIRS – Director Adam Feinstein just made a $4 million purchase, scooping up shares in this small-cap medical aesthetics name.

This kind of conviction from someone on the board doesn’t come every day, especially in a less liquid name like this.

📌 Vera Therapeutics $VERA – James Flynn of Deerfield Management just filed a fresh 13G, disclosing a 5.25% passive stake.

Biotech investors know Deerfield’s reputation – this could be early positioning for something brewing beneath the surface.

Here’s The Hot Corner, with data from June 11, 2025:

Click the table to...

There's a lot of movement on the thematic table, but what I want to point your attention to is how the Ark Innovation ETF $ARKK  has flipped from red to green, similar to the other Ark funds on this list.

Earlier in the week we pointed out how Small Cap Growth $IWO looks poised to outperform; ARKK and IWO basically look the exact same.

So if small caps do take off in a meaningful way, ARKK is well positioned for upside. And as far as the trend is concerned right now, it's clearly trending higher, with a clean series of higher highs and higher lows.

Sign up for my free note here.

Semiconductors are probably the most important companies on the planet—they power today’s economy and carry heavy weight in major global indexes.

How they perform often sets the tone for the broader market.

Earlier this year, semis looked like they were about to break down and complete a nasty top relative to the S&P 500.

However, that didn’t last long. They bounced back quickly and reclaimed a key support level.

Bulls are scoring points and hooking higher, invalidating any negative implications from a potential breakdown.

This action can only be seen as a positive signal for the entire market.

After all, the big players are here to play—not to be benched...

The multi-year distribution patterns in energy are failing and hooking higher.

And from what I understand, it’s been confusing for some people.

I get that. If you’re one of them, keep reading; we’ll unpack it all.

But first, here’s something from a note I wrote on energy last month.

“I’m making the bet that crude scoops and scores here. I think it should look a lot more like its derivative plays soon, back in its old range. And I think we can get a fast move back toward the upper bounds from there. I’m talking about a big rally that sends crude back to the 80s or 90s”.

Why in the world was I feeling so warm and fuzzy about crude oil? 

It was just completing a massive top. What a naughty technician I must be. What was I thinking?

We’ve been pounding the table on the rotation taking place across Asian equity markets. Vietnam, Taiwan, Thailand, China—you name it. 

The message is clear: the tide is turning and participation is broadening across Asia. 

It’s no longer just Japan. Everything else is starting to work.

One of the key forces driving this rotation is a weak US Dollar. When the dollar stumbles, emerging market currencies catch a bid—and local equities tend to follow. 

Here’s the latest in the mix, the Korean Won:

Like many Asian currencies, the Won spent over two years grinding lower in a steady downtrend. Earlier this year, it undercut key support. But instead of breaking down, it snapped back violently. 

It’s a...