A massive short squeeze is happening in SpaceX right now, just like we saw in Tesla. $SPCX surged +41% in the last 5 trading sessions, adding half a trillion in market cap. Never bet against Elon Musk.

Bearish bets on US stocks are surging: Short interest in the S&P 500 is up to ~3.7% of its free float, near the highest in data going back to 2010. Short interest in the Russell 3000 is up to ~6.1%, also near an all-time high. Both metrics have steadily increased since the start of 2025. Furthermore, short interest across all NYSE-listed stocks rose to a record 9.0% of shares outstanding in late June. By comparison, this metric peaked at ~5.0% during the 2008 Financial Crisis and ~6.0% during the 2020 pandemic. Conditions for a short-squeeze are rising.

Is gold setting up for a short squeeze amid the Iran deal? Gold funds posted -$2.3 billion in outflows last week, marking the 4th consecutive weekly outflow. This brings the 4-week average of outflows to -$2.0 billion, the 2nd-largest on record. This is only below the -$3.5 billion 4-week average record seen in February. Meanwhile, the largest US gold-backed ETF, $GLD, has seen -$2.2 billion in outflows so far this month, on track for its 4th consecutive monthly withdrawal. Year-to-date, $GLD has seen -$8.1 billion in outflows, on track for the first annual withdrawal since 2023. Conditions are ripe for a short squeeze.

🎙️ Weekly Crypto Forecast is live On the table today: → $BTC rips past $66K on short squeeze + US-Iran deal hopes → Armstrong: did we already bottom at $60K? → Saylor stacks another $100M in BTC → Ark drops $500M on SpaceX shares Tune in!

MITSUI KINZOKU $5706: responded to local news of new competition from Lotte Energy Materials, promptly rallied 18%. Many Japanese tech materials companies in the same boat, prone to short squeeze.