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The links mentioned on today’s SMC pod:

• Le Shrub on “Quant-Monkey-Geddon” - always entertaining and worth a follow on X / Substack etc. Has also been a podcast guest where I first came across him.
• Le Shrub also tipped me off with link to X post looking the Goldman Sachs Long/Short Index and how poorly the Long/Short outfits have been performing over last two months (a sign that “something wrong here”.
• Jesse Felder discussing how loose financial conditions really are with some great chart pulls at the most recent Felder Report:
• Jesse Felder again on the record low insider buying interest.
• Endgame Macro with a rundown of the US geopolitical strategic game plan. How will China respond to this

Today’s chart of the day: Meta

Meta earnings after the close will be an interesting one. A bit surprising that the IV rank only at 30%, with an “expected move” through Friday of about 5.4% as of Barchart’s snapshot. Yesterday saw an ugly sell-off bar to the round 700 level (options-linked?). As noted on the pod today, interesting to see how the market treats the stock if Zuckerberg continues further ups the capex plans on AI data centers and not least, salaries for top talent in the field. I have no insight here on what Meta will deliver - just asking questions.

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