◢ Re-poster

Some light reading this weekend.

Thanks @conksresearch

Fuck socialists and communists 🇺🇸

Thanks for playing 🏌🏼‍♂️

💸 Closed $SNDK 9/25 (Short $1750 Call)

+62.46%

Held 3 days

Executed with Radon

https://radon.run

Thanks for playing 🏌🏼‍♂️

💸 Closed $SNDK 9/25 (Long $1700 Put)

+33.03%

Held 3 days

Executed with Radon

https://radon.run

Worst ever sell off…so far.

High Yield Credit, $HYG, versus $SPY has been in free fall the past few sessions.

1M implied IV rank now at its highest level since July 29 2026: 23.2.

Vols are waking up...

@nomura's McElligott writes that model positioning now has G10 bond exposure in the 2nd percentile and STIR exposure in the 3rd percentile, reflecting extremely large shorts.

Any move by @SecScottBessent and the @USTreasury to spook the shorts and there's a monster rally waiting to happen in global bonds.

According to @goldmansachs, the fair value of $VIX here is 25.

The chart shows an inverted $VIX (inverted) against the CTA technical threshold breach.

$VIX is 18.

I'd say that's a mis-pricing worth buying...and I've been saying this (see below).

Realized Vol finally re-coupling with $COR1M for the first time in a long time.

The gap between these 3 volatility gauges, the $VIX, single stock vol, and cross-sector vol, is simply way too wide and it will re-couple.

$USDJPY 1 month vol vs. $VIX

Looks like theres some catching up to do...

US momentum factor GSPRHIMO up 7%, sharply outpacing EU high beta momentum basket which gained less than 3% over 2 days

@GoldmanSachs sales desk flagged a notable factor dislocation on September 9: the US momentum factor (GSPRHIMO) is up 7%, while the comparable EU high beta momentum basket gained less than 3% over 2 days.

That divergence is sharp even accounting for normal US/Europe factor spread. Within the US momentum move, semis are higher and software is lower, suggesting the rotation is sector-specific rather than a broad risk-on lift.

The EU momentum basket's relative underperformance over the same window suggests the factor catch-up is a US-specific dynamic rather than a global reflation trade.

@Broadcom reaffirms $115bn/$230bn FY27/FY28 AI revenue targets as constraint shifts from demand to power and permitting.

Broadcom's Hock Tan reaffirmed FY27/FY28 AI revenue targets of $115bn and $230bn at the @GoldmanSachs Communacopia Technology Conference Day 1, September 9, 2026.

The message: demand isn't the problem anymore. The constraint has explicitly shifted to physical infrastructure, specifically power, permitting and data-centre construction timelines.

@openai token spend percentage on @vercel Gateway now printing its second highest level ever and rising...

After the midterms we rip and re-gross.

Global AI revenue growth is unreal.

"Our revenue estimate for the AI economy reached $229 billion annualized by the end of August - up 3.5x in one year. Growth is going strong.

Trailing twelve-month revenue reached $140 billion last month, 3.2x the August 2025 value of $44 billion."

$VVV another easy short.

Eaton US Data Center Backlog Grows to 307 GW, or 15 Years of Build Backlog at 2025 Rates

Eaton Corp reported that its total US data center backlog has grown to 307 gigawatts, equivalent to 15 years of backlog at 2025 build rates, up from 12 years in its last update.

Only roughly 20% of this backlog converts near term, with the majority translating to 2028 and beyond deliveries.

Source: @UBS

Imagine fading @SecScottBessent