“I continue to really like gold and like these like it's just it's all been washed out. all the momentum's in these other sectors at a time where it looks like real yields are starting to to peak out h”
Gold is a long as real yields peak and the hawkish Fed narrative washes out.
“participation rates falling is not a healthy labor market... Why in the world would they hike into that? ... The labor market is there's just no reason for the Fed to act in either direction right now”
A weak labor market forces the Fed to abandon rate hikes, boosting long-duration Treasury bonds.
“I think the Mag Seven are are are sort of in the hurt locker for a while... if the AI trade starts to unwind a lot these hyperscalers 30% of their income earlier this year is from the markup of the AI”
Google is a sell on bounces as the unwinding AI trade threatens the balance sheet markups of its private AI lab investments.
“I think the Mag Seven are are are sort of in the hurt locker for a while... if the AI trade starts to unwind a lot these hyperscalers 30% of their income earlier this year is from the markup of the AI”
Microsoft is a sell on bounces as the unwinding AI trade threatens the balance sheet markups of its private AI lab investments.
“I think the Mag Seven are are are sort of in the hurt locker for a while... if the AI trade starts to unwind a lot these hyperscalers 30% of their income earlier this year is from the markup of the AI”
Amazon is a sell on bounces as the unwinding AI trade threatens the balance sheet markups of its private AI lab investments.
“I think the Mag Seven are are are sort of in the hurt locker for a while... if the AI trade starts to unwind a lot these hyperscalers 30% of their income earlier this year is from the markup of the AI”
Sell Meta on bounces because an unwinding AI trade threatens the 30% of hyperscaler income derived from marking up private AI lab valuations.
“Our deficits are still 6% of GDP. The debt is still climbing... all the things that make for example gold and you know when liquidity is booming Bitcoin and this debasement trade generally like attrac”
Bitcoin is a buy as a debasement hedge against 6% GDP deficits and sticky inflation, especially after a nasty positioning rinse.
“I totally like those expressions better than NASDAQ here. Think I think is as economic and growth and inflation slow with sticky inflation still you're you're going to want the debasement stuff back v”
The Nasdaq is a sell as slowing economic growth and sticky inflation favor debasement assets over crowded AI bottleneck trades.
“they're double dipping like you you have the equity in the token and then like all the equity owners own the token but the token doesn't represent any claim on equity and they can just sell the token.”
Retail realization that governance tokens are worthless will crush altcoin trading volumes and exchange transaction fees.