In every correction the stocks down the most almost always bounce the hardest. Below is a list of the hardest hit, broken down by market cap, MTD.Tera cap ($100b+)Mid Cap $10b – $99.9bSmall caps ($1b – $10b)On the other side of the coin are the low beta outperformers. Even though markets are oversold, they can...Read More

Hard to describe the visceral action during today’s tape, but it was pinned to the moods and fate of one stock: NVDA. After posting much better results than expected, the fate of western finance as we know it was tethered to its shares. Early going, gains were immaculate. High beta strategies were +5% and then...Read More

Stellar results.NVIDIA beats by $0.04, beats on revs; guides Q4 revs above consensus; Blackwell sales are off the charts, and cloud GPUs are sold out (186.52 5.16)Reports Q3 (Oct) earnings of $1.30 per share, excluding non-recurring items, $0.04 better than the FactSet Consensus of $1.26; revenues rose 62.5% year/year and 22% sequentially to $57.01 bln vs the $54.90 bln FactSet...Read More

We happen to be in an environment where regulators just approve anything, attracting tens of billions into river boat gambling ETPs — the worst of them issued by Graniteshares and TRex.Anyone interested in some x2 BULL -shit?The recent drawdown in AI related names has been exacerbated by the leverage built into the system, buoyed by...Read More

Another session where we bounced off the morning lows only to slink back down into the close. The VIX is now trading ~25, so the tape will feel thin, as volatility ramps up due to the extended nature of the sell off. We shed 61bps, thanks to limiting factors, such as 20%+ cash, a pastiche...Read More