Premarket Percent Movers
Source: TheStreet Pro
Fed Speakers, Econ Calendar for Today
9:30 a.m.: Fed Bank of Richmond President Barkin (Non-Voter) appears on “The Business Briefing” on SiriusXM;
12:00 p.m.: Fed Bank of San Francisco President Daly (Non-Voter, Dove) speaks about AI and the economy at the Economic Research Symposium hosted by the Federal Reserve Bank of San Francisco (No prepared remarks. No group media interview. Livestream at https://www.frbsf.org/news-and-media/events/2026/10/remarks-from-philip-lane-2026-economic-research-symposium/);
12:30 p.m.: Fed Bank of St. Louis President Musalem (Non-Voter) speaks on the U.S. economy and monetary policy before a Shadow Open Market Committee meeting, Penn Club of New York, NYC (Text anticipated. Moderated Q&A follows. No media availability. In-person and audio-only virtual option)
Economic Calendar:
SOURCE: TipRanks
Let’s Get Chai
“For the foregoing reasons, the Government respectfully requests that the Court give the GAO Report no weight…”
– DEA
This (the DEA’s brief) is very constructive for cannabis rescheduling:
Positions: none
Apple Short Covered
Housekeeping item.
I have covered the balance of my Apple ($AAPL) short at $343.69 (down -$5.50 on the day and almost -$9 from my short sale last evening).
Position: None
Tweet of the Day (Part Trois)
Position: None
Sir Albert Talking My Book
Position: None
Tweet of the Day (Part Deux)
Position: None
Apple Short Update
Housekeeping item.
I have covered (5:30 AM) a portion of my Apple short at $345.70, moving from S to VS.
I plan to re-short on a rally.
From last night:
Dougie Kass
I added to my Apple short at $352.34 at 805 PM Thursday evening.
Position: Short AAPL (VS)
Tweet of the Day
Position: None
Awooh!
* I mean baa(d) – Baa? Baa(d)
What full lips you have
They’re sure to lure someone bad
So until you get to Grandma’s place
I think you ought to walk with me and be safe
I’m gonna’ keep my sheep suit on
Until I’m sure that you’ve been shown
That I can be trusted, walking with you alone
Awooh
Little Red Riding Hood
You sure are lookin’ good
You’re everything that a big, bad wolf could want
Awooh! I mean baa
Baa? Baa
– Sam the Sham and the Pharaohs, Little Red Riding Hood
Wolf Street howls about “tech as in drek.”
Tech Makes a Mess as Wrinkles Start to Show. Markets Are Edgy Now, Aren’t They? | Wolf Street
As noted by Wolf Street we have seen unprecedented and large percentage and dollar drops in the world’s biggest technology stocks that have highlighted the last 48 hours of trading:
* Alphabet ($GOOGL)
* Amazon ($AMZN)
* ServiceNow ($NOW)
* Intel ($INTC)
* Fortinet ($FTNT)
* Reddit ($RDDT)
The consensus has been unabashedly optimistic going into this week’s technology earnings releases:
1. From the head cheerleader, Fundstrat’s Tom Lee, whose changing narratives have incorrectly but confidently called for an imminent and massive stock market rally:
2. “Group stink” and simplistic first-level thinking from another Halftime panelist shrouded in hubris:
To me, the most audacious part of all this is that there will be no admission of a massive investment mistake nor will there be pushback from the shows’ moderators.
Position: None