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My guess today (July 1st) going into holiday weekend: Book some profits and start the 2H green. Enjoy vacation. Come back later when things pick up.

July holiday weekend is start of the bigger summer slowdown. It technically starts in June, but yea.. I expect low volume chop this month. I am actually setting off on a big family road trip today and dont expect to be trading anything until August.

In fairness, everything selling into the holiday weekend. Sell in May and go away!

Never heard of a company being added to an index a week after IPO. That is crazytown.. which has basically been the last year of markets, so I guess it makes sense.

DIDI nearly at issue price of $14 <dumpsterfire.gif>

10 red candles on the 5min chart in a row.

Volume is everything in large cap stocks. You need volume for any appreciable price movement. As Fogel said, low volume price moves often correct. I saw this yesterday with a particular spac that Sanrith and I have been discussing. You would see a big volume share sell diving the price down...

Happy with my read on PSTH price action and selling the news on presentation day. All day today, very small volume on the green candles, big volume sells making lower lows. Struggling to hold 22.50 today. This is going to be driven down to as close to nav as possible and without Ackman doing...

Travel industry pretty beat up today. Bought some DAL and CCL in the long term acct. (CCL share offering dipped it 7% today). Seems a value buy for long term. Small positions with plenty of firepower to add if we have a market washout in the coming week(s).

@Sanrith Descartes fwiw re Fidelity retirement accounts and PSTH:

That is my whole mission currently, to lower cost basis. I am out, but not "out out". Hah. I assume you mean $21.50 cost basis? That was the lowest price on offering day. We dipped to $21.33 on June 4th this month when the UMG target leak happened and this is current historic low price.

Here's what I see on my L2 pricing.

That is my take. Market makers driving the price down to scoop up retail shares. Those sell orders all came and went at the same time, when the price dipped a few cents, they moved down to 22.93 hitting multiple exchanges at once too. Glad I stuck with my gut in selling the news on presentation...

There were 5x orders across different exchanges for 25.5k shares each all at once. (Lightspeed level 2) I had meant to type 150k initially, not 250k

Orders have been pushed down to 22.93. MMs driving this down

Currently >150k shares worth of sell orders sitting at 22.95 ask on PSTH. Ouch

The CNBC coverage of it wasn't so much about the ROTH itself, but the fact he had bought boatloads of undervalued Paypal founder's shares for fractions of a penny each. This in itself is against SEC rules and what is being questioned.

As I said earlier, part of my concern with Remainco is there is no nav protection post-split. If there really is no immediate target, and Bill has no more time constraints of a spac, it can simply be shorted into the ground.

Closing under $23.

Going to be shocked if we hold $23 today at this rate. My overview is that the UMG deal is great, but investors don't like uncertainty. Remainco seems mixed messaging. He said on the call for companies to call and reach out, but then said later they signed an NDA with a target yesterday. But...

With this price action, I think we see some potential downside. Despite some great answers to pressing questions, we've not seen much upward price movement in the call. I think this has a few months to stagnate before any of the timeline events happen. Quite simply, I would rather sell now at my...

Expects UMG to pay a dividend.

Bill covering ADR on PSTH. Already talked to SEC. "Nothing to preclude dual listing." US Investors -- Secondary listing, sponsored ADR's - No regulatory issues -- Talked to the NYSE and they would love to have them on the Exchange. It is up to the new board of the company for the dual listing...

So, wait and see if an ADR is filed? Otherwise, we don't see UMG shares until Nov/Dec per the PSH investor timeline. Guessing at this point, Fidelity would just liquidate at the then current UMG price at distribution?

My 7k shares are in my Fidelity Brokeragelink account (self managed 401k). I need to do some reading on how it trades post-split.

It broke 23.50 by 1 penny and sold a bit. (Retesting the 20 day isnt a bad thing before continuing higher. Validates the move further.) Everyone is assuming a NYSE ADR listing. Euronext certainly doesn't trade with the same bloated levels as the US markets. It would certainly power this thing...

PSTH actually moving a bit. Can't wait for Ackman to actually hit the media circuit and pump this deal.

SPY in absolute beast mode.

@Sanrith Descartes I need to do some research on PSTH too. I have mine in Fidelity Brokeragelink, which is my own managed 401k. I've been out of the loop a couple weeks flying back to the US for a family emergency.

548k share block trade on GSAH. Crazy.

GSAH : Mirion Technologies rumor / leak. Monster block order, but now fading. *Edit* And now low of day and below 20D moving average. Spacs seem dead gentlemen.

What are the odds this goes straight to $20 if the SEC doesn't approve all of this? Particularly the conured up SPARC idea.

Good read: https://www.bloomberg.com/opinion/articles/2021-06-04/bill-ackman-s-spac-will-be-three-spacs?sref=9HT8lz40 @Sanrith Descartes the SPARC will be openly traded on NYSE. re your retirement funding scenario, you can sell the SPAR rights via the SPARC to someone else at any point. From...

It is Friday going into the close. You gotta take those profits off the table much earlier this late in the day.

GSAH just caught a bid. Spiked to $10.44 on considerable volume.

All depends on timelines though. You only put in your $20 SPARC cash after the SPARC deal is announced. It has a 5 year time horizon, so could theoretically take years (zero opportunity cost). You could have long since sold your post-IPO UMG, or any other holding in that ret acct, to fund the...

Now trading pre-listing price of <$21.50

Exp?

Well, that didn't last. $21.xx now.

PSTH back over $23 (for now).