Pre Market Thoughts - 28 Oct 26 FOMC day is here. I added a bunch of risk into the close yesterday - this was posted on my telegram channel (https://t.me/degentradinghouse) - so join in if you want real time updates. A few thoughts - with regards to neos, we saw the highs in CRWV CDS - CRWV debt has also repriced upwards. In my note before - a business that might fail 4 years later is different from a business that has to fail NOW. Additionally, the ANT S1 is confirming that serving inference is indeed extremely profitable. The only way for neos to reprice upwards is also for supply destruction via financing constraining buildouts of smaller players - who survives? -CRWV, NBIS On memory, SKHY blow out earnings. At the current pace of earnings, SKHY will earn back its entire market cap in 2 years. I believe this will reprice strongly as the market is forced to accept that memory is structurally different now. The buybacks and dividends also shovels cash back to shareholders - helping the value accretion story. Yields are also lower - macro wise there is alot of noise because with mid terms coming - besides trying to guess whether dems win or not - you need to guess the market reaction function to the result as well. I have no valuable opinion on that. Crypto wise, i believe that you either bid value or bid momentum. Being stuck in no mans land is NGMI. RH ecosystem is one where i think there is value for the low caps. Will head into the terminal to discuss some tickers Good luck!