To The Moon

$NBIS 20260618 80.0 PUT$ 

NovemBEAR has arrived 🐻📉

I’ve been preparing for a bear market for a while now — tightening risk, trimming exposure, and keeping an eye on the cracks forming beneath the shiny surface. And now November shows up living up to its name… NovemBEAR.

But here’s the real debate:

Are we entering an actual bear season 🐻❄️… or just going through a healthy correction 🔧📉?

Right now, I’m leaning towards the latter.

Even though Michael Burry closed down Scion Asset Management, I still share many of the same concerns he’s been beating the drum about:

• AI concentration is reaching uncomfortable levels 🤖🔥

A handful of mega-caps are carrying the entire market. When leadership becomes that narrow, the whole structure starts to wobble.

• Valuations are feeling frothy 💨💰

Not dot-com bubble territory… but definitely stretched. One slip in earnings or guidance and reactions become exaggerated.

• Liquidity isn’t what it used to be 💧⚠️

Dealer positioning, treasury supply, and the constant yield tug-of-war mean volatility can explode out of nowhere.

So yes — I’ve been bracing for a bear.

🐻

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Let's have a discussion on the below questions to seek clarity as a community on where the market is potentially heading:

• Is this a healthy shakeout before the next leg up?

• How sustainable is a rally driven by only a handful of AI names?

• Are markets pricing perfection in a world that’s far from perfect?

• And most importantly — what does true diversification look like in a narrative-dominated market?