06/21/2024

Hey Trader,

If you've been reading this newsletter lately you’ll know I've been getting more bullish as the months roll on. As we continue to hit my upside targets (HELLO we got inches away from 522 that I dropped last week) the market is stronger than ever. In a strong market, it is the season for IPOs and acquisitions!

Rumor has it there's a big one in brewing and there's more to the story than just two companies.

Boyd Gaming allegedly handed a rose to Penn Entertainment.

The hospitality and casino giant Boyd looks like it wants to expand further into the entertainment field, hence why Penn, the gaming and casino company would be a solid choice.

PENN’s chart looks awesome. Unless the rumor is debunked very soon, PENN has room to roll up to $24.

The merger chain doesn't just stop with PENN and Boyd. There's another player in this picture and we'll call him dad.

PENN signed a big deal with Disney, so BOYD needs to suck up to not just PENN (with apparently a 9 billion offer deal) but also DIS to get PENN’s hand in a merger marriage.

Both PENN and DIS will get a huge lift as this merger points towards a successful match. While PENN is already getting a lift with much more room to go, DIS is forming a bottoming pattern. 

Here’s my DIS target:

BOTH of these stocks have a gap fill as well, so this catalyst can help that boost even higher!

If you want to trade this move — and others alongside us today, join us right here at Trade to Close!

Check out Mark’s market outlook up next!

Market Moves Spotlight 

By Mark Sebastian

The stretch on the S&P 500 vs the Equal Weight has gotten extreme. The market might still go up...but it might not be reflected in the S&P 500

The rest of the market needs to catch up to tech. Or tech needs to pull back — or a little bit of both. This is something worth playing.

Always be closing,

Olivia Voz and Mark Sebastian