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Good Tuesday Morning, MPTraders! October 27, 2026-- Pre-market Update:-- There are 4 trading days remaining in October-- META stock and convertible bond deal upsized (because of strong demand), with the stock offering priced at 625.00 (currently trading above issue at 629-630)...-- Earnings Today:(EarningsWhispers)META upsized its stock and bond offering to $37.5 billion from $35 billion, and priced the stock offering at $625. In the aftermath of the deal price announcement, META traded as low as 618.38 (for an instant), but quickly recovered above the stock issue price of 625.00. As we speak, META is circling 626.
It’s October 20 and Elon Musk is commenting on a possible merger between TSLA and SPCX. And then the key phrase emerges, “Because I’m a conflicted party, I can’t actually be in the discussions.” This can be framed in various ways. The fanboy will say, “He’s being open and straightforward.” The critic will say, “He’s just fulfilling regulatory requirements.” So Musk won’t be in the room?But the room we all are in is different. It’s not the boardroom. There are no directors. This is the crowd and conflicts abound.
As I write this update, the SPX is certainly pushing on the top of our resistance box. And, if you remember, I am maintaining the primary count of the 1-2 to the downside as long as the market does not break out through the resistance box in a sustained manner.But, I also warned that this market has not been kind to short traders.
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