For the second session in a row, the action was somewhat listless, with notable action in an odd array of stocks like INTC and ironically data center stocks. There is churn in the tape, which makes is difficult to assess trend from bump. Sometimes morning dips are bought in certain stocks, at other times not....Read More

When DeepSeek revealed their results several weeks ago, it also revealed that I was far less diversified than I originally thought. The shocking drawdown is still with me and it manifests itself in my trading. I never want to endure something akin to that again and part of that means placing trends ahead of convictions....Read More

To get rates down…The economy must weaken, so that inflation can come in.The govt is the largest employer. The govt is also, apparently, the largest provider of grift. By cutting the fat and lessening the grift, Musk says we can reduce the deficit by 50% and with the planned tax breaks and stimulus, boost GDP...Read More

‘Tis the season to enter the gambler’s parlour and bear witness to the inevitable whirlwind to come, when expectations meet results and market participants be proven to be geniuses or abject morons. This morning we were entreated to several headwinds, starting with DDOG missing, YINN bidding lower due to a sudden reversal in the Hang...Read More

First order of business is today’s CPI.It came in hot and futures tanked as a result. But at closer inspection, much of it was driven by rents, which has a 12mo lag and that might resolve itself soon enough, due to the new immigration policies. Thirty percent of the food inflation was in regards to...Read More