Jared Kushner was in a very good mood at the World Cup today as he continues to build his new private island in Albania exclusively for elites.
This is the new Jeffrey Epstein.
GRAY = Year-over-year shift in metro area home prices between June 2024 to June 2025
BLACK = Year-over-year shift in metro area home prices between June 2025 to June 2026
Table shows the 50 largest MSA housing markets
RED = Down YoY
BLUE = Up YoY
Chart via @ResidentialClub
A director at Copart $CPRT is selling the stock even though it is down over 30% in the last 6 months
Director (Englander Daniel J) sold $2.20M (14th largest sale, out of 20).
This decreased their listed holdings by -13%.
Their last sale was 553 days ago.
Micron $MU dropped 10% today. SanDisk $SNDK 13%. SK Hynix $SKHY, three days after its record IPO, fell 15% in Seoul.
Nothing failed. Micron grew revenue 346% last quarter at an 85% gross margin. The story is perfect. That was never the question.
In our semiconductor climax trilogy we wrote that the story is always at its best exactly when the stock stops responding to it. The signature: wide and loose action after a vertical run. Swings in both directions, maximum violence, minimum progress. Micron gained over 220% this year, then started moving 10% a day. That's not a trend anymore. That's distribution in plain sight.
The trilogy's sell framework, applied:
1. sell into strength, in tranches. nobody sells the top. the goal is selling on the way up, not explaining on the way down
2. the climax run is the signal. when a stock gains more in three weeks than it did in three months, the move is ending, not beginning
3. wide and loose after vertical = distribution. euphoric latecomers buying from exiting insiders, violently
4. respect the line of least resistance. when it flips, no earnings report overrides it
5. never round-trip a windfall. a 220% gain that becomes 60% wasn't a gain. it was a loan you didn't collect
6. the news arrives after the tape. today's reasons (China competition, export restrictions, HBM supply) existed a month ago. the sellers moved first
We're not crash prophets. Parabolas run further than any rational mind expects, and memory demand is real.
But a framework beats a feeling, and the framework has been saying the same thing since the trilogy: this is the late innings, played at the loudest volume.
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