Weekly Market Report 6/7/26
Where I think the market goes from here, crypto, my trading portfolio, one stock in a big base that isn't tied to the AI buildout, my favorite charts, and more.
Well Friday wasn’t fun, was it?
It felt like the market was a black hole, with the major indices down nearly 5% and pulling almost every stock down with it.
Reality is that if your portfolio wasn’t down a bit on Friday, it just means you weren’t in the leading stocks and likely haven’t participated in the monster move off the lows over the past two months.
Unless you sold the exact top, like so many are claiming they did… sure!
Volatility is the price of admission, and without volatility like we saw on Friday you’re not going to reap the rewards of a major bull market.
If you’re someone who bought leaders a 4-8 weeks ago and had a cost basis advantage, yesterday didn’t hurt as much as the headline numbers imply as most stocks retracted ONE weeks worth of gains.
Where traders get in trouble is when they start chasing high flying stocks when they’re extended after historic runs.
Looking at the one month return of most of the stocks that got crushed, they’re still up significantly.
The big picture lesson here is simple:
Don’t chase.
There is always another opportunity somewhere, whether it’s in the leading stocks or emerging potential leading stocks. You never need to chase because there’s almost always a new emerging opportunity somewhere.
This is an environment where everyone that missed the rally has been praying for a dip to get involved. Now that we got it, do those same people 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.
The 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 think 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 where I think the market goes from here, an opportunity setting up in crypto, the SpaceX IPO and the potential opportunity tied to it, one stock that isn’t tied to the AI buildout set up in a massive base and has a history of running, my favorite charts, the news that Trump dropped this weekend that could have an impact on a number of stocks, and more.