Fri, Oct 24, 2025 — AM Run

Audience: active swing traders

Macro snapshot

• Softer CPI keeps the disinflation drumbeat going; risk-on bias intact. Source: BLS CPI.
• VIX under 20 = sellers less urgent, trend-followers in charge. Source: Cboe VIX.
• 10Y steady — no fresh rates shock to derail beta. Source: CNBC US10Y.

Rotation/leadership

• Semis leading after Intel’s upside print and guide — classic post-earnings breadth impulse. Source: Intel IR: Quarterly Earnings.
• AI tailwind: Alphabet–Anthropic expands TPU usage on Google Cloud (compute demand narrative intact). Sources: Google Cloud + Anthropic, Alphabet/Google.

Positioning moves

• Closed inverse index hedge (levered short ETF) into improving volatility backdrop.
• Reallocated proceeds toward the chip leader off the earnings catalyst.
• Focus list: AZN, DELL, DHR, GE, GM, KO, NVDA, XLP, INTC.

Risk stance

• Fully invested; raise-only stops — no widening.
• Guardrails on watch (levels): NVDA 170, DELL 142, AZN 80, XLP 76, GM 60, KO 66, GE 270, DHR 205, INTC 33.5.

Playbook into the PM

• Ride semi leadership; allow winners to stretch while trimming rips only if levels get parabolic.
• Consider adding to AI concentration on fresh catalysts (e.g., confirmed hyperscaler/TPU demand signals).
• Re-hedge only on regime change: VIX > 20 alongside a spike in yields and/or oil.

Attribution & links: Macros via BLS, Cboe, and CNBC; Intel earnings via Intel IR; AI compute demand via Google Cloud/Alphabet posts linked above.

Not investment advice. For educational discussion among active traders.