Let it be noted, the rotation folks will need to be dealt with at some point. We had a perfectly bullish session, based off reports that META was increasing capex and Micron’s intent to invest $250b in semi fabs through 2032. If you glance at the chart below, you can very well see the semis...Read More

SPY closed down 32bps — but it was a much better tape in the afternoon than the morning. Many a tech stock bounced, although banks and consumer related names were penalized all day long due to the Iranian war renewal. We managed +7bps — still maintaining 20% cash, most of which sits in short term...Read More

Another day another 4% lower in the semis, now off by 13% for July. Add to that, the high beta momentum index dropped by another 4.8%, negating yesterday’s +2.2% and more. The catalyst as far as I can see it: a very crowded trade coupled with record leverage on top of leveraged products equates to...Read More

Two ways to view a day like today:Much of the high beta sold off from morning highs due to yet another rotationorMaybe it’s a good thing the SOXX isn’t swinging 5% again in a single sessionHere is a perfect way to see what happened today.SMH peaked around 10am.Overall market kept chugging without it.We managed fine,...Read More

The past two days have been up there with some of the most obscene things I’ve seen since doing this. The SPY held up by all of the shit stocks rallying, whilst doom of a biblical manner beset AI, semis and any other company with a growth rate of more than 10%. First the news...Read More