mkt close - 29 may 26 Huge rebalancing flows towards the close. NVDA was sold down from 217 to 211 while MSFT and ORCL were bidded up. Essentially semis were sold while software was bid. SMH vs IGV. In other areas, NBIS and the rest of the neocloud space were hit in initial trading, however they have recovered their gains for NBIS and CRWV, In particular if compute is constrained, this firms up the narrative for both CRWV and NBIS to make a move upwards. NBIS was recently unveiled as Leopold's pick - does that give it plot armour? I would want to see any dips below 200 to quickly get eaten. NOK hit the 14.6 support and bounced up. This name has seen alot of shilling in the 16s area - hence not surprised to see some profit taking on it. Interesting however that the derivs flow on this continues to be strong. Would expect this and BB to continue to rerate upwards. Nuclear did not have much price action for the month, hence relatively unchanged on the rebal. For memory, late bids on SNDK came into the picture, picking up the name and pushing it up by almost 3% in 10minutes of trading. MU continues to trade just shy of $1000. IMO, we could see a rerun of semis led by MU - this would probably trigger a retracement in IGV and provide a dip for people to add exposure. software names i like - ORCL, CRM, NOW, FIG Happy weekend!(degentrading)