mkt close - 29 may 26

Huge rebalancing flows towards the close. $NVDA was sold down from 217 to 211 while $MSFT and $ORCL were bidded up. Essentially semis were sold while software was bid. $SMH vs $IGV. In other areas, $NBIS and the rest of the neocloud space were hit in initial trading, however they have recovered their gains for $NBIS and $CRWV, In particular if compute is constrained, this firms up the narrative for both $CRWV and $NBIS to make a move upwards. $NBIS was recently unveiled as Leopold's pick - does that give it plot armour? I would want to see any dips below 200 to quickly get eaten.
$NOK hit the 14.6 support and bounced up. This name has seen alot of shilling in the 16s area - hence not surprised to see some profit taking on it. Interesting however that the derivs flow on this continues to be strong. Would expect this and $BB to continue to rerate upwards.
Nuclear did not have much price action for the month, hence relatively unchanged on the rebal.
For memory, late bids on $SNDK came into the picture, picking up the name and pushing it up by almost 3% in 10minutes of trading. $MU continues to trade just shy of $1000.
IMO, we could see a rerun of semis led by $MU - this would probably trigger a retracement in $IGV and provide a dip for people to add exposure.
software names i like - $ORCL, $CRM, $NOW, $FIG
Happy weekend!