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Recent
- Pulse 2026-10-22Memory — Seoul Sells the BeatLam Research — the chip-equipment maker with the heaviest memory exposure — beat on profit and revenue last night and fell 7.2% in after-hours trading. By the time Seoul closed, the message had crosse
- Pulse 2026-10-21Earnings — Records No Longer Get PaidFive companies report after tonight's US close — Tesla, Meta, IBM, SAP and Lam Research, the heaviest reporting night of the quarter so far. They report into a market with a strange habit: companies b
- Pulse 2026-10-20Korea — Too Far Up, Now Too Far DownSeoul fell for the sixth session in a row. The Kospi lost 3.7% to 5,552.74 on Tuesday — 13.0% in six days — with SK Hynix down 4.2% and Samsung 3.0%, as doubts about AI spending returned, as reported
- Pulse 2026-10-19Chips — Bear Market Again, but Not Like JulyThe chip stocks are in a bear market for the second time in four months. The Philadelphia chip index closed Friday at 11,137, 23.9% below its record close of 22 June, after eight losing days in a row.
- Weekly Signal 2026-10-18Second-Tier Chips — Back at the July Low, Leg Two Begins
- Pulse 2026-10-17Hypergrowth — Calls Bought Back After a 25% SlideOne book traded this week, and it traded on one day. On Friday Hypergrowth wrote seven lines: it bought back short calls on ASE, Nebius and Rocket Lab after a week in which all three stocks fell 15 to
- Pulse 2026-10-16Rotation — Out of Chips, Into Pills and SoapThe S&P 500 is only 0.9% below its 6 October record, but the money has changed seats. Since then the health care fund rose 6.0% to a six-month high and consumer staples 6.0%, while technology lost 6.3
- Pulse 2026-10-15AI Trade — Show-Me Quarter for 2027Two clocks are running on the AI trade. The short one says sell: Kospi −8.5% with a trading halt, the chip fund 20% below its June high, and Barclays saying companies put only about 5% of their IT bud
- Pulse 2026-10-14AI Trade — Hot Prices, BlackRock Steps BackSeptember consumer prices rose 3.7% on the year, above the 3.6% expected, and the core rate rose to 2.6% from 2.4% — the 10-year yield climbed to about 5.26% and another Fed hike on 28 October is back
- Pulse 2026-10-13Banks — More Profit, Still Not EnoughThe first big earnings day of the season: JPMorgan and Wells Fargo earned more than a year ago and still fell short — JPMorgan missed on profit and revenue, Wells Fargo on revenue — and both traded ab
- Pulse 2026-10-12Earnings Week — Banks First, Then the AI TestThis week the companies report, and we ask two questions: how strong is business outside tech, and do the chipmakers confirm the AI build-out the market still prices for 2027? JPMorgan and Goldman Sac
- Weekly Signal 2026-10-11Financials — The Early Warning Has Turned, for Now
- Pulse 2026-10-10Portfolios — No Trades as Chips Fell 5%None of the five books bought or sold anything this week. The log holds dividends and one share split, nothing else. That is worth writing down in a week when the chip fund SOXX fell 5.0 percent and t
- Pulse 2026-10-09AI Trade — Capex Sold, Apps BoughtOpenAI's revenue came in at about $50 billion, not the $70 billion that had circulated — and the AI build-out was sold: chips −3.4% on Thursday, the data-centre builders −7%. The software that uses AI
- Pulse 2026-10-0860/40 — Not Dead, the Bond Part Needs a RegimeThe 60/40 portfolio is not dead. What failed was the static bond half: 40% in long Treasuries, whatever the rate regime. Nobody buys the stock half that way — the stocks are chosen by regime. The bond