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Happy Thursday, everyone!
Before we begin, a quick reminder below about Wall Street Favorites!
Wall Street Favorites is a stock research platform that ranks hundreds of stocks daily using a blend of analyst price targets, institutional data, and technical signals — all in one dashboard.
It simplifies decision-making by turning complex data into actionable rankings across multiple lenses like upside potential, momentum, and conviction score. The platform also tracks “smart money” by analyzing thousands of institutional filings, helping investors see where hedge funds and top managers are allocating capital.
In short, it’s built to help investors quickly identify high-conviction opportunities using the same data Wall Street professionals rely on — without the guesswork.
A quick breakdown — in case you don’t have the time.
⭐ One of the strongest 10-day market runs ever has just taken place.
⭐ We broke down the common debate of stock options vs. cash.
⭐ Hedge fund short covering is helping fuel this rally.
⭐ Investors are using strength in crypto to de-risk.
⭐ Tim Cook disclosed a $1M+ purchase of Nike stock.
Market Overview
As of market open, 4/16/26
ETF Winners & Losers
Chart of the Week
One of the strongest 10-day market runs ever has just taken place.
The S&P 500 just delivered one of the strongest short-term rallies in modern market history — rising +9.8% over the last 10 trading days. That places this move in the 99.7th percentile of all 10-day returns since 1950.
Historically, we’ve only seen ~20 instances where markets have surged this quickly over such a short period. These types of moves are known as “momentum thrusts” – periods where buying pressure becomes so strong that it signals a potential shift in trend, not just a short-term bounce.
More often than not, these thrusts occur early in sustained bull runs, as sidelined capital rushes back into the market and positioning rapidly flips.
While short-term pullbacks can follow, history suggests that moves like this tend to favor higher prices over the short-to-medium-term, not lower. While we don’t believe we’re at the beginning of some long-winded bull market, we do love what we’ve been seeing in the market over the past few days!
Today’s Rich Habits Newsletter is brought to you by Public, the investing platform for those who take it seriously. On Public, you can build your portfolio for the long haul with stocks, options, bonds, crypto, and more.
Beyond the assets, Public integrates AI in ways that are actually useful. You can get real-time context on why a stock you care about is moving, instant earnings call summaries—you can even build a custom index from a prompt.
In Case You Missed It…
In this week’s Monday-morning episode of the Rich Habits Podcast (linked here) — Austin and Robert break down one of the most important (and misunderstood) career decisions: should you take cash… or equity?
With equity compensation now a core part of pay — especially in tech and AI — this episode gives a clear framework for evaluating what you’re actually being offered and what it’s really worth.
Here’s what they covered…
Cash vs. Equity = Certainty vs. Upside — Cash is simple, liquid, and predictable — you can use it immediately to build wealth. Equity, on the other hand, offers asymmetric upside, but only if everything goes right: company growth, vesting, and a successful liquidity event.
Why Most Equity Never Pays Off — Roughly 70% of startup equity never turns into real money. Without an IPO or acquisition, those shares are just numbers on a screen — and even in successful cases, lockups and volatility can erase gains before you can sell.
When Cash Is the Better Choice — Cash wins when you’re building your financial foundation — paying off debt, building an emergency fund, or needing flexibility. It also wins if your opportunity cost is high or if the uncertainty of equity creates financial stress.
When Equity Actually Makes Sense — Equity becomes powerful when you have conviction in the company, a strong financial base, and the ability to wait 7–10 years. In the right situation, it can accelerate wealth in a way salary never could.
The bigger message: cash is guaranteed — equity is a bet. And the right choice depends entirely on your financial situation, your risk tolerance, and whether you truly understand what you’re holding.
Here’s a link to the Q&A episode that was posted this morning.
You can submit questions for these episodes by asking them inside of the Rich Habits Network, replying to this email, or sending us a DM on Instagram.
The Rich Habits Podcast is available on Spotify, Apple, iHeart, YouTube, and wherever else you get your content!
Austin’s Callout
Hedge fund short covering is helping fuel this rally.
Hedge funds aggressively covered short positions last week, with short exposure in US-listed ETFs seeing its largest weekly decline in over a decade. At the same time, funds ramped up purchases of macro products like index futures and ETFs at the fastest pace since mid-2025.
This kind of move doesn’t happen in a vacuum. It suggests many funds were caught leaning the wrong way into the recent rally and were forced to quickly reposition as markets moved higher.
Now, exposure has flipped meaningfully. Hedge fund positioning in global equity macro products sits in just the top 3% of the past five years — a sharp reversal from where we were just weeks ago.
For markets, this matters. Short covering can act as fuel for rallies, adding incremental buying pressure as positions unwind. But it also means a lot of fast-moving capital is now back in the trade, which can shift the dynamic going forward.
In this cycle, positioning is driving price just as much as fundamentals — and right now, that positioning has turned much more risk-on. As you’ve heard me say constantly in the Rich Habits Network — 2026 is ALL about positioning and handling the constant volatility.
Robert’s Callout
Investors are using strength in crypto to de-risk.
Bitcoin’s realized profit/loss ratio is currently sitting at 1.16, meaning more investors are taking profits than realizing losses. In simple terms, the recent rally is being used as an opportunity to exit positions — either at breakeven or with modest gains.
This type of behavior typically shows up in transitional phases, where sentiment is improving but conviction hasn’t fully returned. Investors are taking advantage of strength, rather than aggressively adding to positions.
At the same time, it’s important to note this isn’t broad capitulation — it’s measured profit-taking. The market is digesting prior volatility, with weaker hands rotating out and stronger hands gradually stepping in.
For crypto, this matters. Periods like this often act as a reset, clearing out overhead supply before a more sustainable move higher can take shape. I remain bullish on my crypto holdings!
Join us on Tuesday night for our next Rich Habits Network Weekly Livestream! We’ll be discussing this and more.
The Rich Habits Radar
👉 Hims jumped 20% because FDA will reevaluate certain peptides.
👉 Bloom Energy surged from Oracle doing another $400M stock purchase.
👉 ASML beat earnings but struggled amid tightening China chip restrictions.
👉 Oil dropped to below $94 per barrel, now down 11% from recent highs.
👉 Tim Cook disclosed a $1M+ purchase of Nike stock.
👉 Tesla jumped +12% so far this week, best week in many months.
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