Pre Market Thoughts - 23 Oct Yields lower on a risk off move. With how offside funds are on rates, this move lower in yields is likely to have legs. A short note today because i am busy with some personal matters. The pain that started in neos has spread into the broader market. NBIS and CRWV were relatively unscathed compared to AI favourites. My game plan is still the same, deploy into a down move. Moderna also had a big unwind. This has been a recent momentum favourite. It falling apart is a good sign that the pain is spreading. Localised pain in AI is not good. The index getting pummelled and winners get sold is what you need to see for a flush. Crypto has also had the winds taken out - with alts trounced on a relatively small BTC move. Overall, my game plan remains to bid into a liquidation cascade across a few names. Good luck!