6/5/25 - Fight, Fight, Fight
Market seemed happy after Trump call with XI, but then Elon and Trump rumbled and the market crumbled.
The Naz and S&P picked up distribution days to up the count to 4 and 3 respectively. No cluster yet, the market is still healthy with a recommended exposure of 80-100%.
Some of the hot stocks got toasted: PLTR, CRWV, ETOR, TSLA. Oddly, most of my IBD stocks were up, except IBIT and then BROS, which I bought on the morning breakout, which faded horribly by the end of the day. There was not a general panic and we are still in a power trend.
We take it day-by-day and wait to see what happens Friday.
the Labor Department’s May jobs report is due out Friday morning.