Chey
6.1K posts
Chey
@cheyms
builder of things / married with children / mysterious / contrarian swing trader with a tactical asset allocation / #BillsMafia
“Not only did Nasdaq gut its “seasoning” requirement to allow SpaceX into its index only 15 days after its IPO, it also changed how it adjusts its weighting in the Nasdaq 100 index for “low-float” stocks.” “SpaceX will be a very low-float stock, with only 5% of its shares available for sale, yet Nasdaq will weight the stock as if the float were 25% of total SpaceX shares.” “Once the 180-day lock up period for insiders ends, and the SpaceX float exceeds 20%, Nasdaq will weight the stock based on 100% of the shares outstanding.” 👇🏼 montanaskeptic.substack.com/p/the-spacex-i…
WARNING 🚨: Stock Market reaches most expensive valuation in history, surpassing the Dot Com Bubble and the run-up to the Great Depression 🤯👀
Seeing lots of tweets about BTC and lower engagement/public interest. I personally find this fascinating and any trader active 20 years ago should be getting flashbacks. In terms of sentiment and interest, 2023 = 2003. You can go to the dusty finance message boards for AMZN and other eventual winners and see the same dynamic back then. Retail and fast-money desks were blown out after '99, but a new ownership base was slowly moving in as tech leaders survived and continued to build. In terms of price action, one of the keys back then was to watch the longer term charts (weekly and especially monthly) for when price levels that were previously lost were quietly regained. This led to huge profits for traders who were still in the game and paying attention, because it indicated the continuation of a long-term secular trend. In the case of BTC, for example, a recent level to watch would be 28-30k. And so on at higher levels. I can tell you this: despite all the fundamental company analysis that Wall Street and the media like to peddle, you'd probably be surprised by how many smart institutional guys act off the charts (especially true with BTC). Self-fulfilling on the way down...and on the way up.
