Be in the know. 20 key reads for Thursday…

  1. Hong Kong stocks advance as fund positioning shows investors returning to China (scmp)
  2. Charlie Munger Explained If You Want To Become Rich, Stop Trying To Be ‘Intelligent’ And Aim For ‘Not Stupid’ Instead (yahoo)
  3. Alphabet Earnings: Ads and AI Are the 2 Things to Watch (barrons)
  4. Intel Earnings Day Is Here. Better PC Demand Could Provide a Boost. (barrons)
  5. Durable-goods orders get boost from autos and planes, but most manufacturers tread water (marketwatch)
  6. S. GDP Growth Disappoints as Consumers Pull Back (barrons)
  7. Opinion: U.S. dollar — and its No. 1 status — could become a casualty of economic war (marketwatch)
  8. For Beaten-Down Maker of Alzheimer’s Drug, Good Enough Will Do (wsj)
  9. Meta’s License to Spend on AI Gets Checked (wsj)
  10. TSMC in race with Intel over who can make the world’s fastest chips (scmp)
  11. Hermes Sees China Sales Jump, Defying Luxury Slowdown (bloomberg)
  12. Bullish Boeing Analyst Says ‘Didn’t Expect Things To Start Falling Apart In Midair:’ ‘If They Get It Right, It’s An Incredible Opportunity’ (benzinga)
  13. Japan feels inflation heat from Fed’s ‘higher for longer’ shift (ft)
  14. David Einhorn Sees ‘Compelling Values’ in ‘Broken Market’ (institutionalinvestor)
  15. Comcast Earnings Top Estimates on a Rise in Peacock Subscribers (barrons)
  16. Royal Caribbean Earnings Tick All the Boxes. The Stock Is Sailing Higher. (barrons)
  17. What Meta’s results may mean for Nvidia (marketwatch)
  18. US Economy Slows and Inflation Jumps, Damping Soft-Landing Hopes (bloomberg)
  19. Why the AI Industry’s Thirst for New Data Centers Can’t Be Satisfied (wsj)
  20. Billionaire investor Howard Marks says AI’s impact doesn’t make it immune to a crash (businessinsider)

More Work To Do? Stock Market (and Sentiment Results)…

As I stated in recent weeks’ podcast|videocast(s), we continue to maintain 100% of our tactical semiconductors short/hedge and added a “long bonds” TLT call spread (out of our derivative bucket).  The combined positions have EV (expected max value) of between 5x-8.45x.

When we zoomed out weeks ago, it was our view that the semiconductor sector had gotten a bit ahead of itself – in the short term.  When everyone starts chasing the same “shiny objects” pain is bound to come.  It’s has: Continue reading “More Work To Do? Stock Market (and Sentiment Results)…”