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Laurie’s Abbreviation Index:

** ‘div’ – dividend

** ‘m/m’ – month over month

** ‘y/y’ – year over year

** ‘Inven’ – inventories

** ‘mfg’ – manufacturing ** +/- – plus or minus, positive or negative

** Underlined text – higher volume premarket

** ‘d’ – day

** ‘Y’ – year

**govt – government

Color Key: Positive – Neutral – Negative

Global Markets:  USA, Europe, Japan, China, Hong Kong – slight positive  set-up

      •        Commodities:  Gold, Silver, Copper,  Palladium, Oil, natgas, AGGS,  Bitcoin

      •        Yields: 30Y Bond +0.25%  Currencies:  USA$ -0.27% CAD +0.2% YEN +0.25%  BTC/USD+2.9%  Vix:25.35

      •        Events:USA: Empire mfg 830ET; Industrial prod 915ET
Stock News:DLTR+1%     Earnings META+2.9%  report of 20% layoff; NBIS +13% deal with META
Equity:  USA indices bounced Sunday night with a potential short rally as oil, yields and  US$ pulled back. With volatility elevated and traders bidding up protective puts, sharp moves in either direction are possible.  Tech is strong with semis, software and spec tech all bid. Micron reports this week and monkeys are bidding up memory names WDC SNDK, STX. META is rumored to be cutting 20% of its workforce to pay for AI hardware and signed a deal  with Nebius for $27B over 5 years and META stock trading above the daily expected move. NVDA in focus this week with an event this week which can lead to monkeys buying ahead. Bitcoin higher and approaching the 75k level which has been acting as a resistance level and breakout above. A combination of short covering and the NBIS deal is lifting CRWV, IREN in the AI infrastructure space and general AI hardware names.  Essentially beneficiaries of Hormuz closed like oil, fertilizer are lower and names sensitive to higher interest rates, higher oil like small caps, emerging markets and speculative stocks are higher. Short squeezes can continue for hours or days so need to keep ones head on a swivel and IMO equity is trading inverse to oil/US$ and need to pay attention to the path they take. Gold and silver are weaker despite the US$ and yields lower and a ongoing war which is counter intuitive.

      •       
Stock MU NVDA TSLA WDC   COP SLV GDX    Speculative NBIS CRWV AG
Indices ETHE IBIT KWEB ARKK SMH ARKF XLK IWM MAGS IGV  /CL SLV UNG US$ GDX GLD

S&P500 MU INTC WDC HWM INVH KEYS META UHS NOW GLW   PSA EL CE IR SCHW COP ROL XOM LNT VRSK
Other NBIS CRWV IREN CPNG CRCL MSTR LITE RKT ASTS IONQ BABA STM CRDO SOFI AG PAAS HL

NVDA

NVDA in play today with NVDA GTC conference starting today and Jensen delivering the keynote at 14ET. NVDA option positioning indicates upper targets 185, 188, 190 with expected move +/-3.9 for today and +/-10 into end of week. NVDA IV is elevated for today’s expiration which can be used for a butterfly for today or a diagonal selling a call for todays expiration vs a longer term call. Risk is a sell the news event ie. NVDA gets bid into the event which is used as liquidity to exit. Semis are potentially a day trade idea with caveat that bid higher premarket and may want to consider a pullback.