Degentrading

burry shorted $ORCL at 144 and $NBIS at 211

$SHAZ earnings - nothing new except the B300s 5Y contract (done at ~4.15, contract is about 3y payback (includes shell), remaining 2y is pure profit) ....1.9B cash on b/s, has convert debt. 2B mkt cap.

Pre Market Thoughts - 6 Aug 26
US yields unchanged, crude grinding against the lows of the range. The main driver for the Asia session was the market's reaction to the US session overnight as well as SNDK earnings.
A couple of things to unpack here. Over the US session, we had a broad consolidation move in both the indexes as well as in the sectors that were the prime movers over the last few days. Neoclouds, memory and hyperscalers were weighted as the market digested the rapid moves over the last few days.
$SNDK earnings - revs of ~9B vs 8.6B, EPS of 39 vs 34 ex. These set of numbers were st

after new rules for Korea margin - Koreans are now buying 2x inverse KOSPI etfs...
With the ₩30 million deposit rule on single-stock leverage, index inverse ETFs are packed — retail buys ₩500bn.
The rule: effective July 31, minimum deposit for single-stock leveraged ETFs/ETNs went from ₩10M to ₩30M, and substitute securities (stocks, ETFs, bonds) that previously counted for up to 70% no longer qualify.
Day one: retail net-sold over ₩1 trillion of single-stock leverage. Biggest sales were KODEX SK Hynix leverage (₩587.9bn), KODEX Samsung leverage (₩215.6bn), TIGER SK Hynix leverage (₩153.7bn).

9B rebal flow atm

When it was lower, nobody wanted to buy. "Top is in" .. Now watch it go to ATHs without you. What has changed? we got all the weak hands out.

imagine after all these mess in semis, we break out to ATHs in SPX

Pre Market Thoughts - 3 Aug 26
US yields lower from the highs set in the prior week. JPY has also strengthened following Bessent's cheeky picture. The problem with macro is that interpretation is difficult. While one could spin JPY appreciation as bearish for risk assets, you can also call Bessent's slow guidance down of the JPY as an easy unwinding of carry trade, helping to cap yields in the US. Which narrative will prevail? Its hard to say at this point.
However, the AI buildout will spark a rise in yields. This is simply because debt has to be utilised to add into the mix. Before people pa

Does anyone work or run a datacenter in Singapore?

for people quoting that CBS never recovered after Bill hwang - remember that Bill had more than 50% economic exposure of CBS - while Situational Awareness was big, they never got anywhere to having 50% of market cap of their respective stocks

Market Update - 30 Jul 27
In my pre market note - i talked about the initial V shape bounce - we are at that part of the process now. Given that the entire portfolio for SALP was sold to cit sec, the immediate relentless twap for $NBIS, $SNDK, $BE is gone...and you can instantly see shares rip up 30%... However, next is the slow dribble down as Cit Sec unloads inventory onto the market. It will be a battle between funds who have cash to deploy and C/S's selling down of the portfolio.
My game plan for this part is simply to remain patient for the rest of my capital. Got in $NBIS at 149 levels.

Citadel bought the stock portfolio from SA? I wonder which was the only firm that decided to come out with a call for a 25bp rate hike....

which pod blew up? "the leopod" - u are welcome for a source of joy in these trying times

no idea why but likewise to yst - selling for certain stuff seemed to have stopped after 1230 ET.