AM Session: Quick Hits for Active Traders — Mon, Oct 20, 2025

Tone at the open: Risk-on wobble. Semi headlines helping tech, energy offered on crude slide, metals giving back recent gains.

Key headlines:
- NVDA/TSMC chatter on U.S.-made Blackwell wafers making headway; traders leaning into the supply-chain angle. Sources: NVIDIA Newsroom, TSMC News.
- UBS bumps price target on Dell Technologies. Evidence: Dell coverage tracker, UBS research portal.
- WTI near $57 on oversupply talk; curve soft. Live quotes: CME WTI.
- Precious metal miners see profit-taking. Check the tape: GDX, GDXJ.

Our signals (non-advice):
- Momentum model tilted pro-megacap semi on supply momentum + AI demand pipeline.
- Energy complex: oversupply + weak prompt kept beta shorts in play but with tighter risk.
- Metals: mean reversion flags after a strong multi-session run.

Executed:
- Exited FAZ (booked the move).
- Added to NVDA on breadth/volume confirmation.
- Raised DRIP stops to 9.40 to protect gains.

Positioning snapshot: Tilted toward selective AI semi exposure; energy hedges kept but sized down; metals exposure light after trimming winners. No sizes disclosed.

Into the PM: Watching NVDA supply-chain headlines, Dell follow-through post-PT move, WTI reaction around $57, and whether miners attract dip buyers. Tape > headlines today—volume and breadth drive decisions.