June 24, 2026
Top Pick Performance
Our only official pick for the Morning Note yesterday was cash. For full-time traders, during our Morning Show we added BLZE as a top pick which exploded 20% from about $10.27 at show time to our $12.50 target providing an opportunity to profit on the day.
*This newsletter does not constitute investment advice. Past performance is not indicative of future results. StoryTrading contributors may buy, sell, or liquidate positions discussed at any time without notice. See storytrading.com/disclaimer for important disclosures.
Macro Discussion
QQQ was down 3.5% yesterday validating our red alert call. This morning, extreme volatility continues as stocks are bouncing back ahead of MU earnings after the close today.
Notably, USO is now below $110 - a key support level since the Iran war began. This is causing interest rate expectations to come down which is supportive of stocks especially IWM.
However, with MU earnings tonight and PCE inflation data in the morning, we will stay at red alert. Our red alert call is not so much a prediction that indices will drop as it is more a recognition that we are in an extremely difficult environment to trade.
As such, while we are mostly cash in our short-term trading account, we continue staying nearly fully invested in our long-term account despite this particular red alert signal.
Markets could explode on the other side of MU earnings and PCE tomorrow, but we prefer to get past these events before considering an upgrade in our signal.
Today’s Signal: 🔴
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