To The Moon

I'm starting this week with a more cautious stance as U.S. equities edged lower, and the Nasdaq $NASDAQ(.IXIC)$  once again underperformed. The ongoing sell-off in AI-related stocks is clearly weighing on sentiment, raising questions over whether the usual year-end Santa Rally can still materialize under current conditions.

What stands out to me is the continued weakness in big-cap tech. Names like Broadcom $Broadcom(AVGO)$   and Oracle $Oracle(ORCL)$  extended last week's declines, dragging on the broader tech sector. Broadcom's three consecutive down sessions — its worst three-day stretch since 2020 — signals that investors are actively de-risking crowded AI trades rather than simply taking light profit.

At the same time, global macro risks are adding pressure. Markets are closely watching the Bank of Japan, as any move toward a rate hike could strengthen the yen and tighten global financial conditions. For risk assets, especially tech and high-valuation growth stocks, that would be an additional headwind at an already fragile moment.

From my perspective, this is less about panic and more about positioning. I'm staying selective, keeping an eye on whether this pullback remains a healthy rotation or turns into something more structural. Until volatility settles and macro clarity improves, I'm cautious about chasing rebounds and more focused on risk management into year-end.

@Tiger_comments  @TigerStars