This past week, I raised my cash percentage to the highest level since last year's correction. I'm not ready to start pulling the trigger on short positions. But the market's conditions are becoming a lot frothier.

I previously discussed companies that own land and water rights, which will be important to data center build-outs. But it all starts with energy. Without energy, data centers don’t run. The electricity generator to take note of is Black Hills.

Hey, remember quantum computing? That was a sector that was getting a tremendous amount of hype, in spite of no products, no revenues, and certainly no profits. It’s heartening to see sanity return to the world, as these stocks get blown to pieces.

Liquidity continues to be drained from the system, primarily through Treasury issuance and rising TGA balances, putting pressure on risk assets.

Within hours of the Fed's announcement, gold surged 7% to a fresh all-time high of $5,500. This reaction was not on a rate cut. It was on a hold. The most boring possible outcome pressed gold to one of its biggest single day moves in years.

Unity Software stock tumbled roughly 20% to around $30 following Google’s announcement of Project Genie. The AI-powered game creation engine sent investors into selling mode, fearing new competition for Unity’s dominant market position.

Some see “No Signs of Labor Market Weakness”. Others strongly disagree.

The market bloodbath has moved from silver to cryptocurrency. This weekend, Bitcoin is plunging, taking Ethereum, Solana, and XRP down with it.

By 2019, the number of malls in the U.S. had declined to around 1,500. I was still bearish on the space back then. There was more consolidation that needed to happen. Little did I know how immediate and brutal that consolidation was about to become.

Seagate Technology has been a wildly lucrative “picks and shovels” play on AI over the past year, as evidenced by its more-than-230% gain. However, investors should be prepared for volatility.