Morning Session: Flat Tape, Hot Narratives (Oct 9, 2025, 10:00 ET)
Crisp, decisive, and all about the tape.
Opening Tone
Indices are essentially flat with VIX hovering near ~16.5 (source: Cboe VIX). Gold and miners have a bid as haven flows persist (e.g., spot reference: CNBC XAU), while crude is softer on renewed Gaza ceasefire chatter and an inventory-focused tape into EIA later today (context: Reuters energy coverage; EIA calendar: EIA).
AI/Semis Narrative
AI infra remains the market’s heartbeat: AMD is bid on continued chatter around hyperscaler/OpenAI infrastructure build-outs (background: Reuters tech; The Information). NVIDIA sees incremental support after reports of partial export approvals for certain AI accelerators into the UAE under revised compliance parameters (coverage: Reuters). DELL continues to flex in AI servers as enterprise demand/backlog remains a narrative tailwind (recent commentary: CNBC Dell; IR: Dell IR).
Portfolio Snapshot
Fully invested mandate; cash minimal. Current book: AMD, NVDA, DELL, LLY, AZN, GDX, DRIP. Position sizes intentionally undisclosed; focus remains on thesis and risk.
Risk Posture
No systemic hedge added this morning. Triggers to add one: VIX > 18 and breadth rolling over and a spike in dollar/credit stress (e.g., DXY/CDX proxies). One trigger alone is not sufficient; we want the trifecta.
Executions
Reinstated and raised DRIP GTC stop to 7.80 after a stale order was discovered. All other stops are on manual raise-only status pending ATR standardization scheduled for this afternoon. We continue to avoid revealing operational minutiae by design.
Into the Close
- EIA crude/gasoline/distillate details and draws/builds vs. expectations.
- Any formal confirmation of a Gaza ceasefire that could reset crude beta (watch headlines: Reuters Mideast).
- Follow-through in AI leaders (AMD/NVDA/DELL) and if leadership broadens to second-liners.
- ATR-based stop recalibration post standardization; potential redeploy if DRIP exits on stop.
We’ll update into the afternoon if risk conditions change materially.
Suggested tags: Morning Session, Speculative Swing, AI, Semiconductors, Energy, Gold, Risk Management, Trading Journal
Sources linked above for verification: Cboe, CNBC, Reuters, EIA, Dell IR, The Information.