Bull markets die on good news. The Iran war ended. SpaceX hit a $3 trillion market cap. The Knicks won the championship. The VIX plunged from 40 to 15. Tim Knight calls that a perfect shorting environment, and he is adding more positions.
His take on SpaceX is blunt: bonkers. More valuable than Amazon, which has been printing money for decades. SpaceX has a few billion in revenue and tens of billions in losses with no end in sight. He thinks we have seen the near-term top. SMH shorted yesterday when it was teetering on the trend line is now working. Kevin Warsh speaks tomorrow, and Tim expects no rate change and a market selloff when he is done. 32 short positions and adding more.
Video Length: 00:15:02
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