We had three beats and three selloffs…
With the war back on, the market just changed the rules, and nobody got the memo.
Meanwhile, Brent touched $106. The IEA chief say we’re facing the biggest energy security threat in history.
And the Treasury Secretary told the Senate something nobody covered.
On today’s show:
The Rules Just Changed.
Tesla, IBM, and ServiceNow all beat estimates.
Then all three sold off.
We do a Tesla deep dive.
We saw $25 billion in capex. but negative Free Cash Flow for the rest of the year.
What’s wrong? I’ll tell you.
Here we go from “Chase to Fade.”
CTA buying is now fading, and there’s $23 billion in pension selling coming. Meanwhile, the QQQ RSI is overbought while breadth is the narrowest we’ve seen since the Dot-com years. Goldman says the downside tails are underpriced.
Video Length: 00:25:29
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