📈 Market Tape & Positioning

• The tape is squeezing higher despite ugly macro/geopolitical optics. Gap-up action is pushing into over-extension, even with no peace deal and escalation in violence. Translation: trend is still in control, but chasing here carries bad R/R. 1

• Positioning still looks under-owned. Modest equity positioning plus widespread underperformance creates a classic catch-up setup if the rally keeps grinding. 2

🧠 Memory / HBM Cycle

• Memory LTAs are creating a FOMO loop. LTAs lock in volume, which leaves less supply for buyers without agreements. That tightens the market and puts pressure on anyone who sold memory stocks too early. 3

⚡ AI Power & Infrastructure

• $NVTS fits the AI Power bucket because Navitas has been shifting away from low-end mobile and consumer markets into high-power systems for AI infrastructure. The key angle: ownership of both GaN and SiC, giving exposure to two critical power technologies. 4

🎯 Swing Trading / Execution

• Dip-buying paid fast in high-beta names. $TE was loaded on Friday at $8.29, doubled down at $7.97, then pushed toward $10 premarket, up ~24%. $ASTS and $MU also stayed in the winning swing basket. 5