This was surprising
Analog Semis actually the most overbought TMT subsector right now. Entire group was higher yesterday on notable volume.
bull case is continued inflection in pricing and shrinking supply capacity shifts to leading edge.
Equal weighted basket of Analog stocks:
The weight of AI in the SP500 now at 45%!
was 25% when Chat GPT first announced
Goldman Sachs notes: megacap call options volume is at 2 year highs!
But breadth sucks: "Since the market low in late March, the S&P 500 Information Technology and Communication Services sectors have contributed roughly 70% of the market rebound, accounting for 856bps of the 12% S&P rally."
Supportive
Good morning corpizens!
Kristen Arey shared this today. Asset manager positioning in equity futures has retraced all of the March outflows. 1.3std above the ling term avg.
Lombard w similar findings
were nearing the end of regrossing as we head into earnings
equity call/put volume extended
You freaks love you semiconductors
You know what always works really well?
Chasing semis at all time highs
fool proof strategy
inflows on pace to smash records LMFAO
One of the biggest weekly jumps in positioning on record
according to DB
Good morning corpizens
Update on positioning and net leverage
main driver of the rally back to new highs: nets were low. Can see how they fell off a cliff, most believe nets will and have to have the same type V recovery as 2025, vs coalescing like they did during that 2022-2023 time frame.
Remember the Obama Pallets of cash ....
uh never mind
They're calling the greatest blockade like never seen before!!
Ah the retail INVESTOOOOOR!
Me Taming my agents with whatever the fuck Langensmith is
our Industrials specialist just sent me this:
Behold! the Goldman Sachs most shorted industrial basket!
pretty sure this is transports and freight with some machinery and cap goods exposed to Europe
up 40%!
Exactly one year ago today:
Good Morning Corpizens !
Despite the sharp rebound US equities on the prime book are modestly "net sold" MTD
Aggregate long/short ratio fell to lowest level in 10+ yrs in March and only modestly ticked up in April
Genuinely funny that Sonia Sotomayor issued a public apology today for her mild criticism of a conservative colleague on a specific, substantive issue, and then a few hours later Clarence Thomas picked up a mic and was like ALL LIBERALS ARE AMERICA-HATING COWARDS
As Christ himself famously said, let she who has never gone to third base in a public theater cast the first stone
I'm 100% for taxing the wealthy & using the tax code to engineer a more equitable society
but the rich as a source of revenue to balance the budget is a fever dream
I'd focus on the trillion Dollars we spend on the imperial killing machine. It's also the only way to stop the forever wars
related
Good morning corpizens
Yesterday was a big "unwind" day the aggressive shorting across software + IT services at the end of last week has quickly reversed, with many global PBs continuing to highlight extreme positioning (semis vs. software) coming into this week
Software rally has LEGS,
This would terrify me but I havn;t yet heard
"This time it's different" type nonsense yet
"Flows into semiconductors are now approaching total flows into the broader technology sector."
Things you always see near market bottoms
amirite?
The BDC bounce ?
Not saying same will happen but, markets quietly grinded higher in Q4 '24, except the Russell which was flat
posted about b4, but 1 reason markets didn't crater
was everyone was just hedging vs selling
heading into earnings we'll get some guide downs on freight & supply chain but sector specific
The humanoid robotics market is entering a new era, with projected global production reaching ~76M units by 2035. Demand is surging across industrial, consumer, and defense sectors, driven by high labor costs, rapid innovation, and strong government support. Our analysis goes beyond market scale to examine key drivers of adoption and the forces reshaping the landscape, including global competition, regulatory shifts, and technological disruption that may change the pace and direction of development.
Obi-Wan meets with Kaminoans known for creating clones
JP Morgan on the global Arms race for humanoids
Good morning corpizens
Tech shares and EPS have been highly correlated
until recently
Well, this is a damning stat
California is not the wokest state
parts of SF and LA are woke
and SF is a small town compared to NYC
The Wokest State as measure by wokeness per capita is Minneapolis
and I will be muting my comments
Shorting ze market vill cut off you chonsen Lebowski
Looks like the degenerates haven't joined the party yet
Retail flows yet to inflect