this is Vistra, which is basically unchanged since the end of 2024.

We're going to get a correction at some point. I think it's going to be more than a 1-week correction when we finally do get it. It wouldn't surprise me if it started next week as we get into close to the end of the month. We've had a huge month and I think mean reversion should be on the top of everyone's mind, uh, especially since momentum showed weakness last week.

The hyperscalers, they're basically unchanged now. So again, this is Meta, Google, Amazon, and Microsoft as an equal weight basket... As long as these names are bouncing, since they are the spenders, everything's okay. Well, they broke below the 20-day moving average. It's unchanged pretty much over the course of the last 3 weeks.

even with the power side, the majority of the names... they're industrial names or things like Caterpillar and Eaton. So momentum unwinds in industrials are very important.

Despite everything happening in the Strait, all these promises about the deal, we don't have anything yet. And if you're living in facts, eventually you can't keep this game going on. You start to become an inventory problem. You go from a supply glut to a supply shortage at some point.

I like Marvell to do more than what I think memory will do. I think Marvell is more important to the future and more of a moat.

I mentioned on the, the subscriber webinar that when Intel went under $110 this week, I started buying some because I believe CPUs and optical are still good trades over memory.

How did we not buy Circle? How did we not buy Ethereum? How did we not buy Bitcoin? That will be in May of next year, guys.

How did we not buy Circle? How did we not buy Ethereum? How did we not buy Bitcoin? That will be in May of next year, guys.

in Japan, we've kind of broken away. Now if you go inside the Japan market and look at the machinery side, you have the same chart as you do in Korea... Worse than that is the construction side.