The next few days are arguably the most important days for the market until the midterm elections.
Nvidia earnings tomorrow, and Warsh at Jackson Hole Friday
These two events come after Bessent and the Treasury started buying bonds, showing that policymakers are well aware of the pressure building in the bond market.
When this administration speaks, we know we have to listen. Their goal is to bring yields down and they’re going to do whatever it takes to make sure that happens. But will they do what really needs to be done?
More on that later.
I want to quickly mention that even though software + crypto are now consensus long ideas, I highlighted both of these as actionable ideas a month ago before the crowd:
“The Bottoming Process Has Begun” here on 7/21 (crypto).
“Something Big Just Happened” here on 7/14 (software).
It pays to be early and my goal is to identify these opportunities in real time so you can take advantage.
If you’re not already in the subscriber chat, I strongly suggest paying attention to it.
This is where I post all of my new trades as I enter them. I walk through the trade idea entirely including my thesis, risk level, cost basis, and more.
Today I added a new biotech position that’s already up almost 10%.
The subscriber chat is also where I post a daily thread with my thoughts on the day ahead, relevant headlines and macro events, my main focus names, notable upgrades and downgrades, and anything else I’m watching.
It’s basically become a live market group chat. We have a ton of smart people sharing ideas, setups, headlines, and observations throughout the day, and there’s a lot of genuine alpha in there.
I honestly believe it might be one of the most (if not the most active) subscriber chats on Substack.
Come join us!
In the remainder of this article, I’m going to discuss:
The overall market and direction from here
My expectations for Nvidia earnings
Metals such as gold, silver, and copper.
Crypto
Stanley Druckenmiller
And more.
We’re inching closer to a major inflection point in the market, and I expect we see some fireworks soon.
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