When one of the biggest stocks in the world in one of the most well-known names in the world breaks out of a two-year base to new all-time highs, we have to pay attention. There may be a lot of ways to interpret this price action, but one thing we cannot call this action is bearish.

And today's early trading action and elevated options premiums are offering us a good opportunity to get advantageously positioned for a big move.

Over the last few weeks, we've promoted our bullish crypto thesis, even going so far as to argue the Bitcoin bear market had concluded.

As of the writing of this note, we're currently watching Bitcoin lose our risk management level of 42,500. We entered into some small hedging positions on the loss of 46,000, but now we're looking to add to our hedging positions/raising cash this morning.

It didn’t even last a week!

The Elon and Twitter $TWTR team-up is over before it ever got started.

In a tweet last night, Twitter CEO Parag Agrawal announced that Elon had rejected the company’s offer to join the board.

The two will not be working together for now, at least not in a friendly way.

I was just in Boston for a couple of days for a family function.

It had been about a decade since I was last there.

I gotta tell you, I really like Boston a lot. I used to go quite often right after college because I had a lot of buddies who moved there.

Nothing but fond memories.

Anyway, I stayed in Beacon Hill this weekend, which as it turns out is a beautiful part of the city. A ton of bars, restaurants and shops. Right next to the park. Right by the water.

I highly encourage you to take the family and check it out.

So in the afternoon I met a lot of people who I had never met before. Everyone was super nice.

We got into talking about how things were early in my career. I had gone to Catholic school from the age of 4 until I was 22, when I graduated from Fairfield University.

Then came Wall Street....

What Happens on Expiration Day when I'm holding long options?

I’ve gotten some questions recently about what happens to an open options position if we’re still in it when the contracts expire. 

Caveat: I will rarely hold an options contract in ASO trades into expiration unless it’s a winning position and it's going my way. Profit targets or stop loss exits will usually get me out far in advance of expiration day.

Let’s dig in… 

It's Saturday Morning Chartoons time. 

This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.

You can find the whole list of trades here.

Below you'll find the full PDF of this week's charts:

I promise this isn’t a “Go-Have-a-Baby” post that talks about how the greatest thing a human can do is procreate.

I’ve recently come to somewhat believe that. But I won’t be that guy here.

My friend Michael Nauss (@michaelnaussCMT on Twitter) just welcomed his first child into the world – a beautiful baby boy – and I couldn’t be happier for him.

And it got me thinking about all the ways my perspectives on things have changed since becoming a father myself nearly 8 years ago.

The biggest change for me is that I’m only now beginning to fully appreciate the hard work and sacrifice my mother had to go through to raise me and my two younger siblings.

My father left our house and the divorce process began when I was about 7 years old. At that time, my mom was a stay-at-home mom with no source of income. And my dad, while well-intentioned, was pretty much a deadbeat when it came to finances. So she was basically left to fend for herself with no money and no family around to help out.

This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.

We're back with another commodity post in the Commodity Check series. Today we're highlighting a commodity that had quite a meteoric rise since November 2021. In February this year, we saw the price consolidate sideways. But guess what? We have a breakout!

Let me give you another hint. It's another Agri commodity.

Did you guess it yet?

From the desk of Steve Strazza @Sstrazza

Our Hall of Famers list is composed of the 150 largest US-based stocks.

These stocks range from the mega-cap growth behemoths like Apple and Microsoft – with market caps in excess of $2T – to some of the new-age large-cap disruptors such as Moderna, Square, and Snap.

It has all the big names and more.

It doesn’t include ADRs or any stock not domiciled in the US. But don’t worry; we developed a separate universe for that, which you can check out here.

The Hall of Famers is simple.

We take our list of 150 names and then apply our technical filters so the strongest stocks with the most momentum rise to the top.

Let’s dive right in and check out what these big boys are up to.

Here’s this week’s list:

And here’s how we arrived at it:

• We filtered out any stocks that are below their May 10, 2021, high, which is when new 52-week highs peaked...

From the desk of Steven Strazza @Sstrazza and Ian Culley @Ianculley  

Following some explosive moves earlier in the year, the past few weeks have been full of sideways action for commodities.

Energy contracts are correcting. Copper continues to consolidate. And gold is chopping around in the middle of its multi-year range.

But when it comes to commodities, there’s always an opportunity right around the corner. 

Last week, we pointed out the burgeoning strength in natural gas futures despite the corrective action in crude oil and its derivatives.

Today, we’re going to outline a few developing setups with a focus on ags.

Let’s dive in!

First up are corn futures:

Since last November, we’ve had our eyes on the grain markets, and corn has been one of our most successful trades. It completed a larger basing...

From the desk of Willie Delwiche.

The Fed was all over the news this week, going out of its way to telegraph to the market its intention to pursue an accelerated pace of rate hikes. Fed funds futures seem to be getting the message. A month ago, futures were priced for year-end fed funds rate of 1.50 - 1.75%. That is now up to between 2.50% - 3.00%. In past accelerated tightening cycles, both stocks and commodities were strong into the initial rate hike. Their paths, however, soon diverged. Commodities remained strong and on average didn’t peak until a year and a half after rate hikes began. Stocks have tended to struggle during these tightening cycles, working sideways to lower for an extended period of time. Every cycle has its own unique characteristics, but if history is any guide it makes sense to favor commodities over stocks when the Fed is rapidly tightening monetary policy.