Everyone's Wrong About Tech Again (Shocking, I Know)
Mid-Week Thoughts
The S&P 500 extended its rally this week, climbing 1% as my Phase II AI beneficiaries basket maintained it’s upward trajectory. Key gainers include standout performances from CRDO (+26%), CRWV (+46%), LEU (+11%), and VST (+7.5%), while mega-cap leaders NVDA (+5%) and META (+6.2%) added to their gains - I remain overweight META (late 2022, initially opened in the low 90s). The fresh MDB position, initiated yesterday ahead of earnings, is currently trading up 18.8% in pre-market as of this writing. I continue to hold the GC 3100/3200 call spread for July expiration, originally purchased at $24 and now trading around $85 mid. For details on my latest hedges, refer to this weekend's Week Ahead post (attached below).
I am keeping this post short and sweet, so I will dive right in.