Degentrading

Pre Market Thoughts - 17 Jul 26
Brutal morning in asia trading. Korea markets are closed today. NKY was down as much as 6% at one point in early morning trading, a sign that the panic contagion from NY markets has indeed spread into Asia. I look at this via the terminal ( where you can customize the tickers you add in and this makes the relationships between price moves in ticker to really pop.
$285A is down 16% today to 52K JPY. I see strong support for this at about 49-52k zone. In overnight markets, memory tickers like $SNDK have reached 1320 and $MU near 800s. These are at my buy zones and

cost per task of Kimi K3 and GPT 5.6 is about the same? Kimi is half the token price but uses twice as much tokens

Pre market thoughts - 16 Jul 26
Bloodied morning again in Asia as the KOSPI come to terms with the memory sell off in $MU and $SNDK in NY time. $SKHYNIX was down 12%, retracing its previous bounce off the 1.7m KRW levels.
The surprising mover was $285A however, down 15%. This is a much more significant move than $SKHYNIX.
$TSMC also reported earnings, strong beats across with EPS at 4.3 vs 3.77 and a beat in revenues as well. However, during the last earnings, TSMC also reported breakout earnings but tanked about 5% from 385 to 360s.
As we near big tech earnings, i would expect memory to star

EOD update 16 Jul 26
US market had frantic activity throughout the session. Memory faltered right from the start with $SNDK plunging to new local lows of 1479s - over 16% for the day. This reversed in the middle of the day with $SNDK and $MU tied neck to neck for losses at about -8%.
Neos were beaten down as well, however $NBIS performed quite firmly. Post the Trump tweet on Datacenters, $NBIS had a vibe shift in it's price action and staged quite a strong rebound. For friday's $NBIS expiry, we have some amount of gamma at the 220s zone, this could be worth watching for.
Structurally, today wa

Market update - 15 Jul 26
Memory took a hit in pre market trading without much news. However selling exacerbated on the open with $SNDK down 10% and $MU down 6% as well. Meanwhile nothing on the index level as the Mag 7s perform in levitating up the index as a whole. $AAPL has hit ATH levels.
In other news, $BABA is trading up 25% above where i highlighted that even Burry selling must mean the bottom is here. The sep calls have paid off rather quickly.

For my followers who havent seen me in a while - comment below! its good to say hi!

EOD recap - 13 Jul 26
US markets found its footing after the first 30 minutes with semis staging a decent recovery despite the drubbing that Korean memory tickers took in Asia. This looked hopeful until we had a confluence of headlines (Iran, Fed) that soured risk sentiment. Within the various sectors, neos were broadly sold down, $NBIS regained its previous position as the most defensive of the lot. $GLXY traded surprisingly weak, despite widespread market speculation for a deal announcement soon.
Going into tomorrow, we have KOSPI on a precarious edge. Retail buying in KR has been balancing

Post KRX close - 13 Jul
$0660 rounded off the day down 15%. This is the largest drawdown for $0660 this year since the start of the memory cycle. Early in the AM, a brokerage downgraded $0660, believing it will miss revenues on lower ASPs since $0660 has a higher mix of HBMs that are also locked in LTAs. Logically, this should finally make $0660 less cyclical and improve the PE ratio that investors are willing to pay. The market's reaction is however reflective of the fear and the overweight positioning in $0660 as it sold $0660 in a furious storm. Looking out, i see 1.85m KRW and 1.6m KRW as

Pre market thoughts - 13 Jul
Yields up 2bps across the curve, oil up with brent trading near 79s as war with Iran is back on.
In asia trading, markets were weak. $KOSPI down more than 5% as of this writing, driven by $0660 being down ~12%. Rest of korean stock performed better, helping to hold up the index against this puke in $SKHYNIX. This is surprising given Friday's close in $SKHY - expect the divergence between $SKHY and $0660 to widen as korean locals look increasingly tapped out of liquidity.
NKY took a sympathy down leg too at -1.5%. $285A is also similarly affected, down 10%.
Surprisi

Pre Market Thoughts - 10 Jul 26
Anxiety still seen within Asia markets as morning trading started. Despite a surge in $SKHY implied in US markets, local KR shares started plummeting into the open, dropping as much as 6%. This gave many participants a heart attack - though it quickly proved to be a head fake with KOSPI trading up 4.6%. NKY continued to trade firmly, up 1.5%. The character of markets has definitely changed into one that is much less momentum driven.
Taking into context KOSPI's performance, i can say that most levered players have probably been flushed out. The most recent drawdo

Market thoughts - 9 Jul 26
Funny how bad and fake news comes right at a certain timing and being pushed by a few accounts. A week on, we are now receiving the reverse - news that refute that Meta has excess capacity. My initial read was that Meta was going to increase capex - this is looking to turn to be a reality. The upcoming earnings if that gets reflected will be another tail wind for semis.
In terms of sectors, even photonics caught a bid today. This has been lagging the market for awhile. Away from that Memory is up 7%, likewise along with memory pooling solutions. $PENG was up 13% toda

Pre Market Thoughts - 9 Jul 26
Yields inched higher across the curve. The AI capex build out in my mind is intrinsically tied to US yields as capex driven demand pushes up cost of funding even on the sovereign end. Asia markets today performed weakly relative to the US close.
KOSPI fell as much as 5% from the open to the low, driven by derisking seen in $SKHY as markets start setting the price for $SKHY for friday's NY open. NKY was up 1.4%, a strong showing relative to Korea. It was also revealed that Bain has already disposed of its entire stake in $285A Kioxia. Looking at the chart, it is e

$META pumping 10B to build a DC in canada. Yes - tell me that we are not in a structural shortage for compute

EOD recap - 7 Jul 26
Bruising day for momentum with the selling climax in the middle of the day. All high beta sectors were hit regardless of whether they were connected to the semis theme or not.
In memory, $MU and $SNDK ended the day down 5% and 7%. Overall $SNDK defended the 1.5k level listed earlier. $MU traded a tad stronger taking a few looks below 900.
Neoclouds were down across the board by about 10% with $CRWV coming out ahead by being down only 3.5%. Again, this is the second day of a strong performance by $CRWV within the sector.
Towards the later half of the day, $META released it

"Despite those efforts, META is still hungry for even more computing power, the spokesperson said. It is still moving forward with plans for expensive new data centers and recently inked major computing deals with Coreweave, Alphabet, Oracle among others"

"Despite those efforts, META is still hungry for even more computing power, the spokesperson said. It is still moving forward with plans for expensive new data centers and recently inked major computing deals with Coreweave, Alphabet, Oracle among others"

lets keep the capex going