Dead cat bounce

I think we are in a consolidation phase.

And unfortunately, yesterday could be considered potentially a dead cat bounce in a lot of those names that were aggressively oversold on Friday.

OK, let's get into some of the earnings that we do have out so far.

We'll start out with a look at the defense sector with GE Aerospace out with its quarterly results.

So, yeah, it's in the title.

Are we back or is this a dead cat bounce? You know, we had some of the high beta names bounce hard today.

You know, a lot of the semis, they had some good moves.

I mean, at one point I saw AXTI was up like 11%.

I think as a whole, you know, some names were up just dramatically higher.

So, yeah.

I mean, I'm in the boat for dead cat bounce.

You know, I've been banging the bearish hammer for a while now, and I haven't seen anything that's changed that.

SoFi dropped to a 52-week low of $13.86 earlier this week, then bounced back up about 2.8% to around $14.61. And look, anytime a stock you've been watching hits a new low and then pops, it's tempting to think the bottom is in and it's time to jump in.

But there's a term for when a stock makes a brief bounce after a big drop before continuing lower, it's called a dead cat bounce.

Grim, I know, but that's Wall Street for you.

And the options market, which is essentially where sophisticated traders put real money behind their predictions about where a stock is going, is sending some pretty serious warning signals about SoFi right now.

I thought that was very interesting, and I kind of actually agreed with it when I saw it as a way of thinking about this game.

Dead cat bounce possibility for Beamer here.

Or not, and it could get really ugly.

Richard, let's talk about the Dylan Stewart thing.

Both are happening at the same time.

Bitcoin rallied back above $85,000, but one of the loudest voices in tech is calling this a dead cat bounce.

Jason Calacanis, the investor and co-host of the All-In podcast, posted a one-year chart of Bitcoin down about 30% and wrote, quote, "The dead cat continues to bounce." He tweeted that Bitcoin isn't good for payments, it's intimidating for regular people, it stopped capturing the public's imagination, and it's become, in his words, a boring store of value, the CD in the age of Spotify.

Well, I certainly disagree.