Microsoft Up, Alphabet Down: Same Growth, Different Outcomes
Microsoft is rewarded for trimming its spending plans. Alphabet is hit on profitability, and it may be its worst earnings reaction ever.
The Fed Holds, Oracle Jumps, Chips Rise for Fourth Session but Alphabet Sinks After Hours
The Fed held rates steady with two hawkish dissents, Oracle’s aggressive long-term targets lifted AI names, but Alphabet fell about 9% after missing expectations.
Things I Did Today
Here are today’s things:
* I added to my $SPY at $771.44 and $QQQ at $728.34 shorts.
* I added to $MSOX at $1.86, $VRNO at $5.06 and $GLAS at $2.23.
Position: Long MSOX (S), VRNO (VS), GLAS (S); Short SPY (M), QQQ (VS)
Early Morning Shorting
Beginning at around 6 AM I shorted more indices on a scale.
Here is my cost basis today:
* $SPY $771.07
* $QQQ $724.38
Position: Short SPY (M) QQQ (VS)
AI Frenzy Returns to Wall Street as Chip Stocks Explode Higher Before Big Tech Earnings
A wave of AI-related deals sent semiconductor shares soaring, helping the Nasdaq rally while investors prepared for the Fed and crucial earnings from Microsoft and Google parent Alphabet.
AI Funding Worries Ease and Buyers Show Up
Meta’s offering and Anthropic’s IPO filing answered questions about where the money will come from.
Things I Did Today
Here are today’s things:
* I reshorted the indices: ($SPY) $768.24 and ($QQQ) $721.05.
* Added to Apple ($AAPL) short $345.08.
Positions: Short SPY (M), QQQ (VS), AAPL (M)
Initiated QQQ Short, Added to SPY One
I have initiated a $QQQ short at $720.02 and I have added to my $SPY short at $769.56.
Position: Short SPY (M), QQQ (VS)
Big Tech Is About to Report. My Plan: Do Nothing
Reports loom for Microsoft, Alphabet and Amazon, but I see no edge in trying to bet on those outcomes. Here’s what I’ll do instead.
Milwaukee’s Best
The S&P Short Range Oscillator moved a bit more overbought to 0.80% vs. 0.48%.
I traded (very small) $SPY and $QQQ on the short side last night (when S&P futures rose by +15 handles and Nasdaq was +130 handles) and took a very small gain on the cover, as I enjoyed and marveled at the Milwaukee Brewers World Series win in game three.
Position: None