We are in a strange market where one sector is leading (tech) while the rest are tanking. Turns out it's not that strange or rare. And most of the time when the market is this bifurcated the rest of the sectors rally significantly to catch up.

The Last Sector Standing! Tech is the only thing keeping the indices up near ATH right now (a very different story than June and July). Since their respective all time highs - Industrials: -11% Utilities: -17% Healthcare: -5% Staples: -11% Materials: -11% Financials: -9% Discretionary: -13% Real Estate: -12% Communications: -8% Energy: -5% S&P 500 Equal Weight is now down -7%, finally inverting the divergence with S&P 500, which is only down -2%. What typically happens next? Does the rest of the market rally to meet the dominant sector or will Tech finally fall too? 👉🏼

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Although $APP is a beast fundamentally, if this doesn't turn into a quick liquidity sweep and rally out of it, don't discount a drop towards $200. Sector sentiment matters more in the short term than fundamentals do.

Ah yes, the old, "Market makers are targeting my trades. My trades will work out if I don't show them". There's no way Burry actually thinks this. He picked the most parabolic sector for broad shorts in a bull market (AI) and is longing some of the worst performing stocks in a hyper-competitive market with low switching costs (like athletic wear $LULU). If he reversed this simple formula, would he still think the sharks are out to get his trades?

The only level of wealth that matters: Can you... ...do whatever you want at any time? ...spend on your health (and dependents' health) unconditionally? ...not have to ask permission to take a sick or "personal" day? ...spend as much time with your loved ones as you can? ...not look at prices at the grocery store with a magnifying lens? ...pay a little extra for the convenient option without thinking twice? ...use credit as leverage not as necessity? Congrats. You're wealthy. Everything else is just BS.

I don't pay attention to double tops much. BUT, there is one pair that is prone to drops consistently after double tops: $QQQ With September OPEX in the rear view, midterms coming up, oil/diesel spiking, yields spiking, and the Fed likely to hike again in October, I would not ignore this. This isn't meant to fear monger but as a money manager it's your job to assess the situation and act according to it. That may mean: 1) less swings 2) smaller position size 3) hedging what you need to 4) profit taking on high beta 5) selling covered calls 6) rotating some funds into risk-free treasuries yielding 5% or higher None of these are "THE" right answer as everyone's portfolio and goals are different. The answer for you may be do nothing at all. But you have to think like a risk manager, especially when the market is not in smooth sailing mode.

I’m at the age where I’ll gladly pay $5,000 for an international first class ticket but I’m still stopping by the 7-11 on the way to a movie, because I’m not giving AMC $40 for a Coke Zero and some M&Ms.

I see a lot of folks saying the CPU trade came out of NOWHERE. How is the market just finding out that CPUs are a major AI bottleneck? Let me try to explain. The market had the ingredients right but the ratio wrong. From 2023-25 the assumption was that inference means the GPU does the work and the CPU just boots the box and feeds it. Training ran about 1 CPU per 8 GPUs. Serving tightened that to maybe 1:3-4. Then agents showed up and the math completely changed. An agent spends most of its time outside the model call. Tool calls, headless browsers, sandboxes staying alive after you close the app, retrieval, multi-agent orchestration. The GPU handles one step of that. Almost everything wrapped around it though is CPU work. Some research puts CPU-side tool processing at 50-90% of total latency in an agentic loop. So the math changed in real time: Training 1:8, Plain inference 1:4, Agentic now approaching 1:1. Arm's version of the same number: 30M CPU cores per gigawatt in a normal AI datacenter vs 120M in an agent-era one. A 4x jump in host compute intensity. Why it stayed a story instead of a trade for so long: custom ARM silicon was supposed to absorb this, but agentic demand got big enough to stress BOTH custom ARM and merchant x86, and even NVIDIA ended up shipping Vera as a standalone CPU. Intel was psychologically un-investable after years of share loss, so the first reaction to rising CPU demand was "AMD takes it," and not "the entire CPU category is short." And capital followed the binding constraint in order: GPUs, packaging, HBM/DRAM, power. CPU wafers looked fine until those higher margin products already ate the foundry capacity ahead of them. 2026 turned the story into actual, tangible numbers. AMD doubled its server CPU TAM to $120B by 2030 on agentic demand. EPYC sold out through year end, 30+ week lead times. Intel filling only 40% of backlog, 6-8 month waits in parts of Asia. Nobody disputed the input was needed; the sizing was just misunderstood.