{"id":10203,"date":"2026-10-03T17:06:28","date_gmt":"2026-10-03T17:06:28","guid":{"rendered":"https:\/\/basedcapitalwealth.com\/?post_type=newsletter&#038;p=10203"},"modified":"2026-10-03T17:07:19","modified_gmt":"2026-10-03T17:07:19","slug":"batshit-tape","status":"publish","type":"newsletter","link":"https:\/\/basedcapitalwealth.com\/index.php\/newsletter\/batshit-tape\/","title":{"rendered":"Batshit Tape"},"content":{"rendered":"<p>Within 1% of highs, yet 30% of stocks are down 10% or more the past month. And how is this being done? Feats of magic!<\/p><figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">MSFT, NVDA, AAPL and META alone added about 300 points to the S&amp;P in Q3, more than 200% of the index&#39;s total gain. The other 499-ish stocks together subtracted about 150 points: Citadel<\/p>&mdash; zerohedge (@zerohedge) <a href=\"https:\/\/x.com\/zerohedge\/status\/2105876937469997369?ref_src=twsrc%5Etfw\">October 2, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><p>The past week.<\/p><figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"310\" src=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.41.10\u202fPM-1024x310.png\" alt=\"\" class=\"wp-image-10204\" srcset=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.41.10\u202fPM-1024x310.png 1024w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.41.10\u202fPM-300x91.png 300w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.41.10\u202fPM-768x233.png 768w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.41.10\u202fPM-1536x465.png 1536w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.41.10\u202fPM-2048x620.png 2048w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.41.10\u202fPM-600x182.png 600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><p>And yet in spite of all this, we have clear winners.<\/p><figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"694\" height=\"826\" src=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.44.54\u202fPM.png\" alt=\"\" class=\"wp-image-10205\" style=\"width:339px;height:auto\" srcset=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.44.54\u202fPM.png 694w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.44.54\u202fPM-252x300.png 252w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.44.54\u202fPM-600x714.png 600w\" sizes=\"auto, (max-width: 694px) 100vw, 694px\" \/><\/figure><p>More specifically.<\/p><figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"394\" height=\"1024\" src=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.45.58\u202fPM-394x1024.png\" alt=\"\" class=\"wp-image-10206\" style=\"width:327px;height:auto\" srcset=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.45.58\u202fPM-394x1024.png 394w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.45.58\u202fPM-115x300.png 115w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.45.58\u202fPM.png 565w\" sizes=\"auto, (max-width: 394px) 100vw, 394px\" \/><\/figure><p>On the other side of the ledger are sectors sensitive to high interest rates and\/or hard mortgage market: banks, small caps, and a whole cadre old man stocks paying dividends insufficient to compete with treasuries. <\/p><p>Remember the &#8216;broadening out trade&#8217;?<\/p><figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"556\" src=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.48.42\u202fPM-1024x556.png\" alt=\"\" class=\"wp-image-10207\" style=\"width:685px;height:auto\" srcset=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.48.42\u202fPM-1024x556.png 1024w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.48.42\u202fPM-300x163.png 300w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.48.42\u202fPM-768x417.png 768w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.48.42\u202fPM-1536x834.png 1536w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.48.42\u202fPM-2048x1112.png 2048w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.48.42\u202fPM-600x326.png 600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><p>It just got real fucking narrow.<\/p><figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"555\" src=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.49.01\u202fPM-1024x555.png\" alt=\"\" class=\"wp-image-10208\" style=\"width:684px;height:auto\" srcset=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.49.01\u202fPM-1024x555.png 1024w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.49.01\u202fPM-300x163.png 300w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.49.01\u202fPM-768x416.png 768w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.49.01\u202fPM-1536x833.png 1536w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.49.01\u202fPM-2048x1110.png 2048w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.49.01\u202fPM-600x325.png 600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><p>Before the recent respite, Stocklabs spit out an unprecedented 6 consecutive oversold signals on our long duration flag, flirting with the 10yr COVID lows technical levels on an intraday scale before rebounds.<\/p><figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"511\" src=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.50.46\u202fPM-1024x511.png\" alt=\"\" class=\"wp-image-10209\" style=\"width:711px;height:auto\" srcset=\"https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.50.46\u202fPM-1024x511.png 1024w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.50.46\u202fPM-300x150.png 300w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.50.46\u202fPM-768x383.png 768w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.50.46\u202fPM-1536x766.png 1536w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.50.46\u202fPM-2048x1021.png 2048w, https:\/\/basedcapitalwealth.com\/wp-content\/uploads\/2026\/10\/Screenshot-2026-10-03-at-12.50.46\u202fPM-600x299.png 600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><p>To put in plainly, markets are behaving like the economy is about to nosedive and the only thing keeping things together is of course the outside chance oil will drop and so will rates, thanks to a Trump TACO. Whenever we get a little hope that the Iran conflict will end, we are quickly reminded that bombings might continue after the mid-terms. Under this context, it&#8217;s close to impossible to time the market &#8212; so you might as well pursue two options. <\/p><p>Buy and hold your favorite names with some cash reserves to dollar cost average. <\/p><p>Go to cash and find solace in the calm solitude of being without prospects or danger. <\/p><p>Ironically, the areas of the market doing best now are the AI datacenter\/semi plays, which of course are not really sensitive to GDP or oil prices, since they&#8217;re benefitting from a once in a lifetime datacenter build out. <\/p><p>Here are some interesting AI related names off the highs.<\/p><p>NXT -48%, GLW -39%, NOK -38%, CIEN -38%, FN -38%, MKSI -37%, VRT -33%, KLAC -32%, ARM -32%, ALAB -29%, FLEX -29%, CRDO -29% etc.<\/p><p>One of the more interesting areas of AI is the move to inferencing and storage. Without giving up too much to you free loader newsletter readers, it would BEHOOVE you to ignore the CPU scaling into this next phase of AI and the subsequent storage solutions for all of the data being compiled. <\/p><p>Providing rates can get the fuck down again and oil go under $80, we could be setting up for a generational run in stocks in Q4 and into Q1. My gameplan entails being aggressive from now until perhaps q2 2027, at which point it might be time to assess valuations and maneuver for a potential retrenchment. <\/p><p>See you fuckers next week.<\/p>","protected":false},"excerpt":{"rendered":"<p>Within 1% of highs, yet 30% of stocks are down 10% or more the past month. And how is this being done? Feats of magic! The past week. And yet in spite of all this, we have clear winners. More specifically. On the other side of the ledger are sectors sensitive to high interest rates [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"template":"","class_list":["post-10203","newsletter","type-newsletter","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/basedcapitalwealth.com\/index.php\/wp-json\/wp\/v2\/newsletter\/10203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/basedcapitalwealth.com\/index.php\/wp-json\/wp\/v2\/newsletter"}],"about":[{"href":"https:\/\/basedcapitalwealth.com\/index.php\/wp-json\/wp\/v2\/types\/newsletter"}],"author":[{"embeddable":true,"href":"https:\/\/basedcapitalwealth.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"wp:attachment":[{"href":"https:\/\/basedcapitalwealth.com\/index.php\/wp-json\/wp\/v2\/media?parent=10203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}