The warning underneath all the recent pumping: OTHERS just put in its LOWEST DAILY CLOSE SINCE NOVEMBER 2023. His point — the breadth of the alts complex is quietly bleeding while a handful of names pump. If OTHERS keeps making new lows, the pump-and-rotate game gets increasingly fragile.
Apple's chart is behaving better than expected. Posted mid-session with a chart showing structure developing — the read is constructive for the single largest index weight.
Zcash continues to print the way he expected. He's been constructive on ZEC's reflexive recovery thesis — 'intuition good' is confirmation the chart is doing what he thought it would.
Bitcoin via IBIT is progressing without drama. No fireworks — just the trend working, consistent with his broader 'don't overthink it' stance.
In a reply he confirmed the hedge book: long September 30 puts on QQQ and October 16 puts on SPX, started Friday. The tail hedge is on while the equity trend runs — protection against the crash-the-bell-curve scenario he keeps referencing.
Gold gets a one-word review: cinema. Two charts up — the move is dramatic enough to watch, even for someone who's also said you could 'just buy gold down $1,200 from its 2026 highs.'
His macro observation of the day: the tape resembles 2021 — the NQ is the laggard while the move broadens away from tech. 'Just observing,' but the implication is rotation, not a uniform melt-up.