Unusual Flows - Feb 2
Tidal Wave of Memory & Chips
Good afternoon everyone,
You got the full week ahead last night. Today’s about what actually happened and where the money went. Just a quick read and recap of what I am seeing in regards to the flow pull from todays session.
The Tape
Strong reversal day. Opened red, closed green across the board.
S&P 500: 6,979.41 (+0.58%) Dow: 49,420.53 (+1.08%) Nasdaq: 25,744.51 (+0.75%) Russell 2000: +1.01% (small cap rotation continues, for now) VIX: 16.43 (-5.79%)
The metals liquidation from Friday appears to be exhausting itself. Risk-on sentiment returned. Dollar held gains (DXY 97.65, +0.53%).
Disney beat this morning. $1.63 EPS vs $1.57 expected, $26B revenue. Experiences crossed $10B for the first time. Stock still sold off 6%.
Oracle popped on plans to raise $50B for cloud infrastructure. Nvidia fell 2% after WSJ reported the OpenAI investment has stalled.
Palantir reports tonight. AMD tomorrow.
The Flow
Let me walk you through what stood out to me, & what we’re currently positioned in below. As always, yellow indicates that the trade interests me personally, purple indicates earnings, orange is a repeat hit.
