Context of the destruction in SAAS. Software is at its most oversold level since 2018 based on RSI pic.twitter.com/mR9UisU0Xi— Hedge Vision (@HedgeVision) February 3, 2026 Our play in SKM is because of its investment in Anthropic. Anthropic is the LLM that is causing this complete annihilation in software. This has me feeling underweight SKM at...Read More

The great subsuming of software continues, with the IGV down sharply for another 4.7%, placing SAAS and other software related names firmly in a bear market. Some of these names aren’t SAAS, but are caught up in the maelstrom via program selling ETFs — such as CRWD. I think it is a buy.We managed to...Read More

Last night futures plunged lower by 170bps based off varying factors, namely the collapse in BTC and metals. This was never a reason to sell off. I was much more concerned with the revelations in the Epstein files than the price of gold. But that’s for another post.I started to consolidate around some positions today,...Read More

At the very core of what a bubble is is valuation expansion. A stock that normally trades at 20x earnings or sales gets re-rated to 30x based off exuberance. Let’s take a look at notable 1yr returns vs EPS growth.stock / 1 yr return / eps growth TTMNVDA +53%, +64% (contraction)GOOGL +64%, +34% (expansion)AAPL +9%,...Read More

It was one of those extremely bifurcated sessions where risk was 100% off, with more than 500 stocks down 3%+, and yet the SPY closed down just 38bps, QQQ -120bps. We managed losses of -70bps, with most of the divergence from the SPY coming in the last hr of trade when the semis took a...Read More