TMTB: EOD Recap
Note: I changed a setting in Substack so if you have notifications turned on for the TMTB chat, you will ONLY get pinged when I make a post (and not when any one else does).
Good afternoon - quite the squeezy day in Tech today as good reports from ARM and CFLT giving a bid to SMID and highly shorted stocks. Consensus shorts outperformed Longs by 2 standard deviations, the worst day since Mid-Dec. QQQs only up 20bps vs ARKK +3%. Crude finished +3.5% and BTC +3%. China finished down 2%. Yields rallied with 10 year up 5bps. Post ARM CFLT and PLTR (and now NET) large moves, investors getting even hungrier for new AI-related plays.