Seagate, a maker of storage devices, has gone up about 800% over the past year. Totally reasonable, right? We’ll see. They report this afternoon. Get an eye on STX:
Seagate Earnings
Bitcoin, Come to Butthead
AI’s Dam Begins to Crack
Let’s start with two related and relevant items.
First, during my tastylive show yesterday, I made two important statements: first, that I’d really appreciate it if the market gods could create a failed bullish breakout with NVDA, and second, that the AI Bubble’s failure would absolutely dwarf what we saw in the so-called great financial crisis. I’ve linked the specific piece of the video where I made the first remark:
Evening Indexes
What a strange, strange market we are in. One would think the market would be getting pounded on a daily basis, but just the opposite is happening lifetime highs every single day except for weekends. I am delighted to state that my shorts are holding own beautifully in the face of this, which actually makes a certain amount of sense since the breadth of the market is awful.
The tech stocks just keep muscling to lifetime highs, and the absolute tidal wave of earnings that we’re going to see on Tuesday, Wednesday, and Thursday evenings will either justify these valuations or, at long last, start to punch these prices in the nose.
