Morning Minutes

8/6/26

Good morning, traders.

After this week’s strong move higher, I’m expecting another session focused on balance rather than aggressive upside. Looking at sector performance, defensive areas are catching bids while risk-on sectors are mixed. Combined with gold’s strong move higher yesterday, that suggests people are adding a layer of protection ahead of tomorrow’s jobs report rather than making a large bullish bet. This setup increases the likelihood of a balancing day, or potentially a modest pullback, as markets digest recent gains.

The biggest weakness pre-market is coming from semiconductors, with Western Digital, SanDisk, AMD, Micron, and other chip names under pressure despite generally solid earnings and guidance. Meanwhile, many large-cap leaders remain relatively stable. This points more toward sector rotation than broad market weakness.

Earnings after the bell:

Airbnb ($ABNB)

Lyft ($LYFT)

Cloudflare ($NET)

Before the open:

Warner Bros. Discovery ($WBD)

From a trading perspective, this is another day to stay disciplined. After multiple sessions of strong index expansion, there is no need to chase extended names. Let price come into support, respect resistance levels, and focus on quality setups rather than forcing trades.

End of Day Recap

$GTLB
✅ +21% on the majority of the position
✅ Remaining runners stopped yesterday

$INTC
✅ Trimmed 1/3 at 6.15 and another 1/3 at 6.25
✅ Remaining runners stopped yesterday

$PDD
✅ Trimmed 1/3 at $91.40
✅ Remaining 2/3 still working

IREN 0.00%↑
❌ Stopped at 2.22 for -15%

Opened 2 new positions yesterday.