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Hey Mr. Spacman

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“It was a light coming down from the sky

I don’t know who or why” – The Byrds, Mr. Spaceman

CCIV is a SPAC looking to merge with Lucid Motors, an electric vehicle play with a car that offers Tesla competition.

Hit & Run members initiated a long position at 28.18 in January.

In February we doubled up, taking a new, second long swing position at 32.75.

On Friday, CCIV gapped open and I alerted members on the Hit & Run Private Twitter Feed to stalk CCIV after The Street sold the Up Opening Spike 1st hour high.

My presumption was an Option Expiration Extravaganza Play could be on the table with Pin Action from 35 to 40.

Sure enough, when CCIV cleared the morning high, it triggered a Late Day Breakout running from the 36 region to Pinocchio the 40 strike.

Not all SPAC’s are created equal. You have to pick and choose from this latest iteration of the Wall Street Get Rich Quick.

SPAC’s, Cannabis Frenzy, EV Euphoria, Bio Mania and Bitcoin Beach Blanket Bingo have become the poster children.

Most are just a way for celebrities on Wall Street or Hollywood or the sports world to monetize their reputation.

What they and their SPAC’s have in common is that the average return for the SPAC sponsor is close to 1000% over the last two years.

SPAC’s, Cannabis Frenzy, EV Euphoria, Bio Mania and Bitcoin Beach Blanket Bingo have become the poster children for the current buying panic in stocks.

It is a self-fulfilling upward spiral, until it's not.

Everyone is doing what everyone just did hoping they are not the greater fool.

I am told Martians landed to have a look at whether they should invest in the SPAC phenomena and returned home quickly, thinking we are all insane.

So at least there’s that… we don’t have to worry about an alien invasion.

This “free lunch” on Wall Street won’t end well, but that’s like trying to tell a fat man with high cholesterol that the $1.99 All You Can Eat Buffet in Vegas is a bad idea.

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