MA
Mastercard Incorporated
stock NYSE

That Hull origin story is real, Alan Hull built it specifically because he thought MAs lagged too much. Funny thing is a couple of the guys I talked to ran Hull too but swore it only works if it's the only smoothing on the chart, the moment they paired it with another MA they were back to second guessing. Two votes for QQE as a filter though, so you're in decent company.

BTC is starting to look interesting to me, It's back above the 200-day MA, and I'm also seeing some improvement in the daily trend.
Still too early to call a full trend reversal, but I'm curious what everyone here thinks — early reversal or just another relief rally?

Magnificent 7 companies are some of the highest quality companies in the world with huge market caps and ability to compound. Some of them trade at very high valuations, while the other ones seem undervalued.
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Reasons why a company could be undervalued are simple:
\- Company is going under the market's radar
\- Its a boring company, nobody cares
**- there is some kind of risk around the company or the sector**
\- bad news causing overreaction from the market
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So for Mag 7 companies we can exclude that the company is going under the radar, that they are boring, and most of the time, unless there is big risk involved we wont see huge overreactions from minor events or for slightly missing earnings.
We are basically left with "there is some risk around them", and I will try to breakdown what are currently the biggest risk of each Mag 7 company, and how is market perceiving them..
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**1. Nvidia**
Recently we saw Nvidia making three moves which caught my eye, and made me think..
**First move** was Nvidia decided to sell $25 billion in high-grade corporate bonds in June 2026, marking its first debt issuance since 2021. This was surprising to me as $25B doesnt seem necessary for a company that just committed spending $250B on a deal with OpenAI, and more with other companies involved in AI.
**Second move** came recently when Nvidia decided to cut the deal with OpenAI from $250B to $120B which is kinda leaving OpenAI in a bad spot as they committed over 1.4T in spending towards other companies, and this could be first sign of links breaking, and if one link breaks it could make the whole thing collapse.
**Third move** was just few days ago when Nvidia announced they are going to be raising prices of their products by 15%.
Everything is leaning in the direction that something is not right, and we might be in for a shock in the upcoming earnings on August, 26th after market closes..
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**2. Apple**
I think the Apple has completely the opposite risks to ones Nvidia has. Apple has significantly lower capex, and the biggest risk is missing the AI integration and huge lag compared to other Mag 7 competitors..
The other risk might be lack of product innovation, and China exposure..
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**3. META**
Currently the worst performing Mag 7 over the last 5 years with only 53% returns while S&P 500 returned 87% not including dividends..
Meta is currently facing a lawsuit from 30 US states, for endangering safety of children and highly addictive product. The lawsuit penalties could reach up to $1.4T which is almost the whole Meta market cap..
And ofc there is risk of all the capex could not give returns as they could lose a AI race to the competitors..
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**4. Amazon**
Amazon has been increasing its capex with the data center infrastructure making their free cash flow negative. I already mentioned risks of data centers and AI infrastructure in my Oracle article, but basically its a big bet that the AI training data centers are still going to be used enough even after the current contracts expire and companies will be able to get new deals.
This is in danger cause AI is turning more to inference and this means different type of data centers are growing in demand, while the cost of old ones are going up. Another issue is that the price of tokens is going down rapidly and its a question if earnings will be able to catch up with cost..
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**5. Microsoft**
Except the risk of high spending like all hyperscalers, Microsoft is also facing risk of its software tools being disrupted by AI, and how all of these factors will affect the company's ROI.
ROI trended downward, sliding to roughly 23.51% in 2023, 22.78% in 2024, and dipping further as heavy investments in artificial intelligence and data infrastructure ramped up.
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**6. Google**
From the company with high cash flow Google became a company without cash, and with increasingly growing capex..
There was some risks about the search business as it may get impacted by AI, and it faces similar risky as Microsoft, but for now its holding up better.
To be real, this is not the same company it was few years ago, which was money producing machine with bulletproof business..
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**7. Tesla**
To add some drama to this post, I dont even consider Tesla a Mag 7 company, and I think Visa, MA or even Walmart would be better fit, but thats just me..
Now to the risks.. Execution delays with everything. We should have already been on Mars, robo taxies should already be in half of the world, Tesla cars should already be the number 1 EV cars in the world, but non of these happened..
Promises and marketing campaigns keep ramping up but there is no significant improvement in fundamentals of the business. Revenue hasnt moved since 2023, EPS is down, shareholders are getting diluted while CEO is collecting compensation..
Current profit margin of Tesla is 3.67% which is in range of Walmart, but the revenue of Walmart is 7x higher, and it is growing faster..
We dont even have to talk about valuation, right?
New marketing scheme coming soon when Tesla joins forces with SpaceX..
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Currently I would say that only META is undervalued from all the Mag 7 companies, some are fairly valued, but a pass for me as a Value Investor who prioritizes risk reduction ahead of upside..

Market maker, plus the 50 MA resistance

I used to go out to Lexington for work, really close to Lincoln Lab. MA was nice but I can't get over how small it is.
I love everything about California except the government. And I'm not some crazy MAGA dude, but I'm definitely a "California republican" which is basically a moderate democrat anywhere else.

Trump discloses over 1,000 trades in June, totaling up to $263 million, according to new government filings.
Recent purchases include Visa, $V, Berkshire Hathaway, $BRK.B, Mastercard, $MA, and Cintasc, $CTAS.
This follows 3,642 trades involving stocks of public companies between January 1st and March 31st.
1000 trades in a month 😂

President Trump’s most recent government filing lists over 1,050 securities transactions in June.
That comes out to more than a trade every 10 minutes or 50 trades a day.
These are the some notable companies he bought…
\- Visa $V
\- Berkshire Hathaway $BRK.B
\- Mastercard $MA
\- Cintas $CTAS

**Trump reshuffled his portfolio in June, selling names like Meta and buying Berkshire Hathaway**
https://www.cnbc.com/2026/08/22/trump-reshuffled-his-portfolio-in-june-selling-names-like-meta-and-buying-berkshire-hathaway.html
President [Donald Trump](https://www.cnbc.com/id/10000329?view=franchise&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) disclosed just over 1,000 financial transactions for the month of June in what appears to be broad reshuffling of his portfolio.
The president rotated in and out of stocks, bonds and exchange-traded funds throughout the month. The transactions totaled between $78.1 million and $263.1 million, [according to Trump’s latest filing](https://extapps2.oge.gov/201/Presiden.nsf/PAS+Index/2BF91F890F718ACB85258E5B002DE16B/$FILE/Donald-J-Trump-08.12.2026-278T.pdf) on Aug. 22, which shows a range for each sale or purchase rather than an exact figure. His securities purchases topped $49 million, while his sales totaled at least $28.5 million.
While the filing gives a window into the investment moves made on behalf of Trump, it is not a clear picture of his total portfolio holdings. The amount bought or sold isn’t specific, and there is no indication of how much Trump owns of any particular security.
Of the 1,051 transactions, the largest was the $5 million to $25 million sale of [Vanguard Dividend Appreciation Index Fund ETF](https://www.cnbc.com/quotes/VIG?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) shares on June 22. That same day he bought between $1 million and $5 million of both [Fidelity National Information Services](https://www.cnbc.com/quotes/FIS?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) and [Home Depot](https://www.cnbc.com/quotes/HD?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw). Those were the largest of several purchases of the stocks in June, although he also logged some sales of Fidelity as well.
Trump sold between $1 million and $5 million worth of shares of both [Meta](https://www.cnbc.com/quotes/META?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) and [Motorola](https://www.cnbc.com/quotes/MSI?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) on June 18, but snapped up the same range of shares in each of [Berkshire Hathaway](https://www.cnbc.com/quotes/BRK.B?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw), [Cintas](https://www.cnbc.com/quotes/CTAS?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw), [Visa](https://www.cnbc.com/quotes/V?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) and [Mastercard](https://www.cnbc.com/quotes/MA?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) that same day. Those moves came a day after the [market sold off](https://www.cnbc.com/2026/06/16/stock-market-today-live-updates.html?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) on concerns over the path of monetary policy. June 17 was the conclusion of Federal Reserve Chairman [Kevin Warsh](https://www.cnbc.com/id/108259645?view=franchise&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw)’s first meeting. [Stocks bounced back](https://www.cnbc.com/2026/06/17/stock-market-today-live-updates.html?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) on June 18..
Other purchases in June include a number of ETFs, including the [iShares U.S. Treasury Bond ETF](https://www.cnbc.com/quotes/GOVT?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw), [State Street Technology Select Sector SPDR ETF](https://www.cnbc.com/quotes/XLK?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) and the [iShares GSCI Commodity Dynamic Roll Strategy ETF](https://www.cnbc.com/quotes/COMT?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw). Trump also purchased several municipal bonds.
The president’s sales included the [Vanguard Short-Term Bond Index Fund ETF](https://www.cnbc.com/quotes/BSV?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw), [State Street Consumer Discretionary Select Sector SPDR ETF](https://www.cnbc.com/quotes/XLY?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) and the [Vanguard FTSE Europe ETF](https://www.cnbc.com/quotes/VGK?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw).
Those ETF transactions spanned just over $1 million to $5 million. In total, there were 25 sales and purchases of stocks, bonds and ETFs in that range. The remaining transactions were broken down into different buckets $1 million and under. The filings only require Trump to disclose securities transactions over $1,000.
The president also moved in and out of defense contractor [Palantir Technologies](https://www.cnbc.com/quotes/PLTR?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw), buying between $1,001 and $15,000 on June 3. He sold between $15,001 and $50,000 on June 16 and another $500,001 and $1 million worth on June 18. The U.S. and Iran [agreed to a peace deal](https://www.cnbc.com/id/108320954?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) on June 14. He bought a small amount again on June 23.
Two other defense companies, [RTX](https://www.cnbc.com/quotes/RTX?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) and [Northrop Grumman](https://www.cnbc.com/quotes/NOC?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) were also named in the president’s disclosure. Trump bought between $100,001 and $250,000 worth of RTX shares on June 12, and sold between $1,001 and $15,000 of Northrop Grumman the same day. He then bought Northrop on June 23 and sold it again on June 24.
He also bought and sold [Coinbase](https://www.cnbc.com/quotes/COIN?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw) throughout the month amid Bitcoin’s share decline. He offloaded between $116,003 and $315,000 worth of shares between June 12 and June 23, and then bought between $50,001 and $100,000 on June 24.
The White House did not immediately respond to a request for comment. In May, spokesman Davis Ingle [told CNBC](https://www.cnbc.com/id/108307603?view=story&accessToken=eyJhbGciOiJSUzI1NiIsInR5cCI6IkpXVCIsImtpZCI6ImZhMDcyZjc1Nzg0NjQyNjE1MDg3YzcxODJjMTAxMzQxZTE4ZjdhM2EifQ.eyJzdWIiOiI2NDY1OTc4OSIsImF1ZCI6WyJjbmJjIl0sImlzX3JlZ2lzdGVyZWRfdXNlciI6InRydWUiLCJzY29wZSI6InVzZXJzOnJlYWRfd3JpdGUiLCJjbGllbnQiOiIyMDQiLCJleHRlcm5hbF9pZCI6IjY0NjU5Nzg5IiwiZGlzcGxheV9uYW1lIjoiIiwiYnJhbmQiOiJjbmJjIiwiYXBwX2FjY2VzcyI6WyJQbHVzIl0sImNpZCI6IjE3ODA3ODc5NzIzOTYiLCJpYXQiOjE3ODc0MzIxNzksImV4cCI6MTc4NzQzMjQ3OSwiaXNzIjoiaHR0cHM6Ly9yZWdpc3Rlcm5nLmNuYmMuY29tL2FwaSJ9.fk08IqgBUIjv49d0UYMRS2syIJQ-bckou5JJkzSb98slkD_b0TzX83srVO-eYvQfusqfRG74fPQHmdnHsVGYLJR3odY8DXhfk2Hmx2x-zyqqf1oVkwUy0et535ZMMkYTFlYWGsggqk40AoXrWdAkL1gqx4OPj1QOP3icJ8PbFiCOIqTS3bDICBdMw8lnC04crIDOmDnVc9cW4Ykk-1UV6eF8U81Bv_qd5Fsv8C7W608k8JcfXYAS3yjiBWjTdMTbCG-jVYiWtXG2bADpFmWz-PC2KAc6Orgii0dRoRlbgN9VIL26eonN2JRSVk3_9NtkabeuNwZtCsfbRKojuGnfZw), after Trump’s disclosure of his first-quarter transactions, that the president’s assets are held in a trust managed by his children.
“There are no conflicts of interest,” spokesman Davis Ingle said in the statement at the time. “President Trump only acts in the best interests of the American public — which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media.”
*— CNBC’s Kevin Breuninger and Dan Mangan contributed reporting.*

President Donald Trump disclosed just over 1,000 financial transactions for the month of June.
That same day he bought between $1 million and $5 million of both [Fidelity National Information Services](https://www.cnbc.com/quotes/FIS) and [Home Depot](https://www.cnbc.com/quotes/HD). Those were the largest of several purchases of the stocks in June
Trump sold between $1 million and $5 million worth of shares of both [Meta](https://www.cnbc.com/quotes/META) and [Motorola](https://www.cnbc.com/quotes/MSI) on June 18, but snapped up the same range of shares in each of [Berkshire Hathaway](https://www.cnbc.com/quotes/BRK.B), [Cintas](https://www.cnbc.com/quotes/CTAS), [Visa](https://www.cnbc.com/quotes/V) and [Mastercard](https://www.cnbc.com/quotes/MA) that same day
The president… [Palantir Technologies](https://www.cnbc.com/quotes/PLTR), … sold between $15,001 and $50,000 on June 16 and another $500,001 and $1 million worth on June 18.
Trump bought between $100,001 and $250,000 worth of RTX shares on June 12

Alright guys. I just want to remind you this is supposed to be a discussion. Which implies a level of professionalism.
No more boobs, bobs, vagin, Jessica, shid, YER MA, $CUM, $ASS, Pepsi, fhek, ghey, buenos nachos, tiddies, booty, cornbread…
Mods please ban these words and I’ll work on the rest of the list

We just touched the 200 days MA and got rejected. 🤣 Melting will commence.

It’s about to cross the monthly MA so I would say the usual cycle has begun. Could go to new highs by Jan or could go to 300K by 2028

Not arguing with you, but what companies are you referring to as payment processors? V? PYPL? MA? Others?

I don't think I'll ever sell $MA again

SHOP, AXON, CRWD, NET, SPOT, ABNB, SAP, GRMN, TXN, V, MA

That's why you start buying partially befoew the price you want. Doesnt matter how sure some people sound of themselves. No one knows for sure whats gonna happen. I was waiting for lower prices too to buy more but I am already heavily allocated. While this last rally happened it became less sure a lower low will occur. That's why I again bought after it convincingly broke the 200 D MA. But be aware a lower low is still possible! Thats why I still have a decent amount of usd left in case see lower prices. Also nothing goes up forever so buy some now and buy some when te dip occurs. Hopefully the dip goes very low.

Interesting effort, but I think the methodology suffers from a classic case of "data mining without a theoretical framework." Here’s why I’m skeptical of the conclusion.
1. The "Two Assets" problem is bigger than sample size
You’re blending NQ (a structural growth/momentum asset) and Gold (a mean-reverting, macro-sensitive hedge). Their market microstructures are polar opposites. In a strong uptrend, NQ supports break more often; in a risk-off shock, Gold behaves entirely differently (liquidity flush vs. safe-haven bid). Averaging their "bounce rates" hides the regime-dependent reality. A generalized claim about all S/R levels across all assets isn't justified here.
2. Context is everything, and it's entirely missing
This is the real killer. A support/resistance level isn't a physical property of the chart; it's a latent order book phenomenon. Its strength depends on who is defending it and why, not on how many times a candle wick has touched it.
Take your Gold example: you nailed it. A retest during the 2008 liquidity crisis (where Gold sold off alongside everything else) is mechanically different from a retest in 2024, where central bank buying (post-Russian asset freezes) is providing a structural bid. Smoothing 18 years of data into one flat probability erases these structural breaks. The first touch post-CPI has nothing in common with the fifth touch during a low-volume summer range.
3. The survivorship bias is more vicious than you acknowledge
You mention the limitation, but I think you underestimate it. For a zone to be touched a 5th time, it has already survived the previous 4 tests. That means it is, by definition, a stronger zone or located in a value area. The randomized control doesn't fix this because it randomizes prices but not temporal autocorrelation. A random walk has no memory of macro shocks; it will artificially depress the 1st-touch bounce rate and inflate the later ones. To correct this, you'd need a block bootstrap that preserves volatility regimes.
4. This is screaming for a regime-switching model (HMM)
A simple aggregated percentage doesn't support robust sensitivity testing. If you ran a Hidden Markov Model or a Markov-switching regression on this dataset, you'd likely find that the "touch count" is just a proxy for the underlying market state.
· State A (Range-bound): S/R works beautifully, touches are frequent, bounces happen.
· State B (Trending): S/R fails, touches are few (because price blows past them).
In that case, the 5th touch isn't "weak" : it just means you are statistically more likely to be in a range, where bounces are mechanically higher. The touch count is correlated with the regime, but it doesn't cause the weakness.
Bottom line: you're confusing statistical correlation (which is shaky here) with market mechanics. Without filtering for macro contexts, volatility clusters, or institutional flow data (e.g., COT or futures positioning), this study risks being a misleading oversimplification. So i’m really sorry to say: nope you don’t have the data to support it.
I’d love to see this rerun with regime filters (e.g., VIX thresholds or 50/200 MA slopes). My bet is that the "touch decay" appears in trending regimes but disappears entirely in ranging ones. Until then, I wouldn't trade off this conclusion.

Yes but future 200W MA depends on future price action. Not the power law trend

I have avoided posting about Counterpart before as it has been tricky to write about this part of the business without moving into conjecture. That said, the latest Q&A provides more detail on Counterpart which is refreshing, especially compared to the latest earnings call where the analysts mostly ignored that Counterpart exists 🤫
[https://investors.cloverhealth.com/static-files/efcb9b85-5cfe-4ae9-8e9c-3a779222563c](https://investors.cloverhealth.com/static-files/efcb9b85-5cfe-4ae9-8e9c-3a779222563c)
This post tracks the progress of Counterpart against the expansion sequence outlined in Q8. It also briefly considers the payment structure for Counterpart covered in Q9.
…
**Four “Straightforward” Steps**
On my first read, some of the answers did seem like a lot of regurgitation from past Q&As but there are actually some key points in amongst. Specifically, I want to pick up on the last sentence of q8 which stood out when thinking about timelines…
“We believe the sequence is straightforward:
\[1\] grow adoption
\[2\] demonstrate impact
\[3\] build scale
\[4\] let the economics follow”
This is the clearest information that Clover has provided setting out the pathway to income from Counterpart Health. What is less clear is how far along this pathway they are.
…
**The Breadcrumb Trail**
Past Q&As have answered similar questions on Counterpart and offer some clues here so I went back to look at which of these four stages have been discussed and when. Here are the key quotes that I picked out and then also my thoughts in the section afterwards…
*Stage 1 - Grow adoption*
* 2025 Q2 - “We don’t announce every deal, but we’re certainly busy”
* 2025 Q3 - “We are entering an exciting next phase for Counterpart Health, moving from product-market fit to scaling with growth. To capture this opportunity, we have brought in top commercial, clinical and operational leaders to help build an organization ready to meet the growing demand for our technology.”
* 2025 Q4 - “Increasing adoption” listed as one of the current priorities
* 2026 Q1 - Specifically discuss investments on “Counterpart Health's go-to-market infrastructure”
* 2026 Q2 - There is no real mention of new partnerships in the questions covered but the responses do emphasise that “Our focus today is on growing lives under management”
*Stage 2 - Demonstrate impact*
* 2025 Q2 - “Being the number one MA plan in the country on HEDIS quality really resonates with potential partners.”
* 2025 Q3 - “Early client feedback and outcome data are consistent with expectations, demonstrating clinical impact, strong market fit” (but examples that follow are about set up times and initial PCP feedback only at this stage)
* 2025 Q4 - “Demonstrating consistent impact for partners” listed as key future milestone among others
* 2026 Q1 - “Counterpart Assistant is being used in real clinical workflows, and generating actionable insights for providers.”
* 2026 Q2 - “To be clear, we have already proven the value of CA in our own plan. We’re simply now making that impact demonstrable to external plans and providers in their own populations, markets and clinical environments.”
*Stage 3 - Build scale*
* 2025 Q2 - No mention
* 2025 Q3 - “The pipeline is exciting, but we are not yet in the rinse-and-repeat phase”
* 2025 Q4 - “Expanding implementations” listed as one of the current priorities
* 2026 Q1 - “We are seeing strong early traction, with deployments scaling well within existing partners”
* 2026 Q2 – “As partners see the impact directly and lives under management continue to grow, we believe the commercial opportunity becomes increasingly tangible”
*Stage 4 - Let the economics follow*
* 2025 Q2 - “At this point in time, we are not sharing guidance on our Counterpart business, as our focus continues to be on rapidly increasing lives under CA management”
* 2025 Q3 - Similar to previous quarter, talking about revenues in the future but focused on growth now
* 2025 Q4 - “Right now, the priority is execution. Expanding implementations, increasing adoption, strengthening go-to-market capacity, and deepening clinical integration. As that matures, we expect to share more detail around financial contribution.”
* 2026 Q1 - Similar to previous quarters
* 2026 Q2 - See question 9
…
**Patterns in the Breadcrumbs**
What’s clear is that Clover is making steady progress and drip feeding us with information as they expand and new clients move through the pathway towards scaling and revenue.
*Stage 1 – Grow adoption*
I am confident that Clover is not struggling with growing adoption (stage 1). The initial pipeline promises have shifted to hard talk about go-to-market infrastructure and hiring. There is not really any mention of new partnerships in the latest Q&A but I think that this is more reflective of the questions asked and shift in focus towards the later stages
*Stage 2 – Demonstrate impact*
The bigger hurdle appears to be demonstrating impact (stage 2). Here Clover has gone from talking about clients being initially impressed by their own metrics to needing to demonstrate the CA directly to partners through implementation. I believe this is where the role of the partner success managers that they keep hiring comes in.
The question is then how long it takes to demonstrate impact? The new slide from the earnings call (also covered in question 4) shows that CA benefit comes through in year 3 for Clover’s own member population. This means that if partners require proof of cost savings, then those who signed up at the start of 2024 should already be seeing benefit this year. Likewise, those that signed up in 2025 should start to see results in 2027 etc.
[Slide from latest quarterly earnings \/ investor Q&A](https://preview.redd.it/xdwkqwvz9qkh1.png?width=580&format=png&auto=webp&s=b9993cb6910bebc1801a6ce55d3a5fc8b2a9c542)
This is a long runway to demonstrate impact and also requires the clients to take a leap of faith during years 1 and 2. This is what Clover is referring to when talking about “growing thoughtfully” rather than “forcing near term economics”. In this context, “giving CA away for free” as people often complain about, seems a sensible strategy to keep partners onboard and get them hooked on the product.
[\\"It's not personal, Sonny. It's strictly business.\\" - Toy, 2030](https://preview.redd.it/ebj5a445aqkh1.png?width=2809&format=png&auto=webp&s=848979e2df044f6c057d36dffc142a7d29562c3d)
On a quick side note… I do also wonder how much Counterpart success in their own population relies on the Clover Care infrastructure built around the platform. I imagine that partner success managers (or whatever they are called) play a key role in advising on this.
So demonstrating impact in cost savings is a long process. That said this is not the only benefit of CA. Clover love to talk about HEDIS scores and interoperability. These features likely have a much quicker path to impact as HEDIS scores mainly capture care processes and I presume that interoperability setup is almost instant.
*Stage 3 – Build scale*
Then comes building scale. Counterpart seems to already be increasing operations within existing partners (stage 3). They started talking about this stage as early as 2025 Q4. This date broadly aligns with the timelines for demonstrating impact for Clover’s earliest partners.
*Stage 4 – Let the economics follow*
Finally, there is the “economics to follow”. Details on this stage have been expanded on in the latest Q&A. Here, Clover describes their so-called “real-time value-based payment” model. I do not think we have enough information to understand exactly how this payment structure works but the final sentence makes Clover’s strategy clear…
“We believe the structure is secondary to the underlying principle: better clinical care drives lower total cost of care, and Counterpart participates in the upside value it creates”
This ultimately points towards a form of outcome-linked payment model where Counterpart's fees are tied to the value it creates, with the specific structure varying by partner (e.g. shared savings, capitation, or fees layered on top). If this is the case, three things stand out…
* First, the pathway to scaled revenue will take time. We know that the value from CA increases considerably from year 3 onwards (as discussed above). If Clover must first prove this model before scaling, then sizeable revenues from partnerships could take 5-6+ years to come through. Although revenue from the test sites could potentially show sooner.
* Second, the potential income from this outcome-linked model is huge if Clover is able to replicate the results from its own member population. One way to think about Counterpart here is as a risk-bearing enabler. In this scenario, the more risk it takes on, the bigger the potential reward. And as it happens, Clover can afford to take on this risk. They even spell this out… “Because our Medicare Advantage business is the core profit engine of our business today, we also have the flexibility to build Counterpart thoughtfully. We do not need to force near-term economics at the expense of long-term scale or partner adoption”
* Third, the "real-time" wording is interesting and suggests revenue could start showing sooner. As discussed above, traditional shared savings models take time, and must wait for value to show. A "real-time" version could plausibly pay on other indicators instead (e.g. HEDIS measures, earlier diagnosis, interoperability wins). If so, Clover may have designed a payment model to start getting paid before the cost savings arrive in year 3. This would pull forward the timelines in my first point.
It is also worth flagging that the response to this question is new information and Counterpart’s SaaS model has only been hinted at before! This suggests that some partner organisations may be starting to move into the final stage if we follow the patterns from previous Q&As. That said, Clover’s response here was still deliberately vague and without concrete statements. This suggests to me that they are still in the early stages of this final step.
…
**Summary**
So yeah, long story short… Vivek often posts that “all is on track” and the direction of travel certainly seems that way. That said, healthcare moves slowly and can make progress feel slow at times. Looking back just one year though, it is clear that the story around Counterpart is actually moving pretty quick.
I am still hopeful that we will start to see at least some Counterpart revenue in 2027 but I expect meaningful figures to take longer (2028/29/30+). When income does inevitably start to show though, I expect it to increase at similar rate to the MA flywheel model. This is because Clover is willing to wait for its slice of the pie. Again, in Clover’s words… “better clinical care drives lower total cost of care, and Counterpart participates in the upside value it creates.”
My opinions and definitely not financial advice.

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