Dead Cat Bounce... Or The Start Of Semi Resurrection?

GS vol desk: "...increasing inbounds from LO and SMH sitting just above its 100dma leads us to believe that Semis is a clean place to reload. We saw vol compress on yesterday's rally and expect this to continue."

Zerohedge store image

Gone Baby Gone

The fastest AI unwind since the GFC-era quant crashes has vaporized returns—but positioning data says the pain trade may not be over.