🚀 Space, AI Compute & Commercialization

• Orbital AI data centers are moving from sci-fi pitch to commercialization track. The tell is not hype, but insurance talks. If insurers are underwriting the risk, the market is starting to price the business model. Watch $SPCX, $RKLB, $ASTS, $PL, $RDW, $LUNR, $FLY. 1

• SpaceX / $SPCX still looks expensive at 160, but the high IV creates a tradable setup. The cleaner play is owning 100 shares, selling covered calls, then running the wheel. Upside exists, but risk is high and not beginner-friendly. 2

• $SPCX showed classic dip-and-rip action. Adding near the morning bottom worked because the rebound had real momentum, not just a dead-cat bounce. 3

🧠 AI Infrastructure & Semis

• $META keeps stacking AI infrastructure. The ~1.6GW Crusoe deal across Texas and Missouri expands both training and inference capacity, reinforcing that hyperscaler capex is still leaning hard into compute buildout. 4

• $INTC hiring former SK Hynix CEO Seok-Hee Lee as EVP of Intel Foundry is a serious foundry-depth move. The read-through: Intel is trying to sharpen execution and compete more directly with $TSM and Samsung in contract chip manufacturing. 5

• The new “Magnificent 7” trade is being reframed around hardware, memory, storage, and AI infrastructure instead of mega-cap software: $SNDK, $WDC, $MU, $STX, $INTC, $DELL, $AMD. That is a clear rotation thesis into picks-and-shovels AI. 6

📊 Relative Strength, FX & Market Internals

• $MSFT is deeply washed out versus $QQQ. Monthly RSI is at its most oversold level ever relative to $QQQ, relative price hit multi-year lows not seen since Jan 2018, and $MSFT has underperformed $QQQ for 11 straight months. This is extreme relative weakness, but also the kind of setup that can start a mean-reversion watch. 7

• The Colombian Peso breaking to new 5-year highs signals more than FX noise. The read-through is stronger external demand for whatever Colombia is exporting, with the currency acting as the cleaner macro tell. 8

• The market faded the hawkish narrative hard: Kevin Warsh sounded hawkish, yet the Nasdaq closed +2.5%. Price action mattered more than policy jawboning, and growth risk appetite stayed bid. 9

⚠️ Governance & Product Credibility

• $MSTR / $STRC credibility took a hit if Michael Saylor really said $STRC was designed by ChatGPT. The issue is not the tool itself; it is the optics of admitting that a financial product was effectively AI-drafted. 10