13Aug12:55 pmEST

Ducking Out Early Today

I turn 40 years old today, so I am going to duck out of here early. 40 years of age is a life milestone which I do not take for granted, as I have known more than a few people over the years who will never get to enjoy this privilege. 

As for markets, the seemingly endless QQQ drift higher this summer remains intact. And that will likely persist unless and until the Dollar can sustain a bounce which, despite this action in the Nasdaq today, is still a legitimate possibility as UUP bases along. 

Along those lines of Nasdaq names, Draftkings Inc. (DKNG) reports earnings tomorrow. DKNG was a wildly hot name this spring. And it will be interesting to see the market's reaction to the call, especially with uncertainty regarding football this autumn and whether the NBA/NHL/MLB seasons will continue unabated to completion. 

On that note, Landcadia Holdings II, Inc. (LCA), below on its daily chart, is surging today. LCA is, essentially, the online gambling arm of Golden Nugget casinos as a special purpose acquisition company (SPAC), and not a pure play on sports betting. 

Still, my sense is that if these names, DKNG LCA (also GAN GMBL are worth watching) sustain breakouts the next few weeks from their relatively sound consolidations this summer, it is a sign of the market pricing in NBA/NHL/MLB completed seasons, a smooth start to the NFL, and select college football power conferences playing their limited schedules. 

Epic Summer Drift Upstream There's Nothing Natural Abou...


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