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Continue reading →: The Week the AI Trade Broke, and Why the Data Says “Rotation,” Not “Recession”Everyone saw the crash and reached for the scariest word. The tape was more specific, and more useful. Here’s what actually happened, and the fork we’re now standing at. For two days the market did the thing that makes people panic. The entire semiconductor complex, the group that had led…
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Continue reading →: Ligand Pharmaceuticals: The Bull Case Is A Biotech ARM, The Bear Case Is Just Another Royalty TrustWhat The Chart Is Saying: At The Highs, On Financing Fuel The tape and the filings tell the same story, and it isn’t a fresh breakout. Source: TradingView Over the past twelve months LGND has run from a 52-week low of $112 to a 52-week high of $306, close to…
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Continue reading →: Biotech Is the Rate-Cut Trade in DisguiseA week ago I wrote that leadership had left the mega-cap “generals” and split into two baskets, semiconductors (velocity) and regional banks (breadth). That’s still true. But the dashboard has been quietly flagging a third group climbing the leaderboard, and this week it’s undeniable: biotech is now the deepest pocket…
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Continue reading →: The Disinflation Trade Has a New Address: GenomicsI don’t have a thesis about genomics. I have a dataset and this week it started pointing at the same place. The motto here is distrust the story, and let the data tell you where it’s already moving. So I’m not going to open with a narrative about CRISPR curing…
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Continue reading →: MaxLinear: The AI Optical Story Is Real. And A 6-Bagger Has Already Paid For ItHow I Found It, And Why It’s Timely I didn’t start with the story; I started with the tape. MaxLinear (MXL) surfaced at the top of a momentum-breakout screen across the Nasdaq, a stock that had spent two years dead in the mid-teens and then exploded to ~$100 in a…
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Continue reading →: Forget the Macro Narrative. Look at the Cross-Section.
Jim Simons built the most successful fund in history on a quiet act of disrespect: he refused to believe the story. No theses about the Fed, no convictions about where oil “should” trade. Just data, oceans of it, and the discipline to let the numbers say something he hadn’t already…
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Continue reading →: IREN: The Pricing Power Breadcrumbs Are Starting To Add UpThere is a simple reason I remain constructive on IREN: the company no longer looks like a pure “AI demand is big” story, it is increasingly a story about whether scarce, energized, deployable infrastructure can command better economics in a market that still cannot clear. The bullish case for IREN…
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Continue reading →: Nebius: The AI Factory Thesis Is Becoming Visible In The NumbersNebius’ (NBIS) Q1 2026 earnings were not just strong. They were a signal that the company is moving from AI infrastructure promise to AI infrastructure execution. Source: Author Revenue grew 684% year over year to $399 million, while Nebius AI Cloud revenue reached $389.7 million, up 841% year over year.…
Hi Fren,
Pepe Maltese
I used to trade inside the machine. Now I just raid it.
I publish two high-conviction setups daily — one momentum, one turnaround — filtered through tape structure, volume shifts, and misaligned narratives.
Some of these turn into full trades. A few evolve into deeper stories. The rest get cut.
This isn’t education. This is intelligence.
I don’t run ads. I don’t sell dreams. I track price, watch structure, and call bullshit when the story breaks.
Follow the setups. Fade the noise. Stick it to the man.
Let’s connect
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