The relief rally showed up, but Tim Knight says it is already spent, one pop on weekend headlines and nothing more, while his mountain of shorts mostly held. His bigger theme is the AI and hyperscaling trade cracking, with semiconductors, memory, and storage names getting chopped to pieces, which he likens to the slow 2006 build in The Big Short.
His standout call is Apple, the one big tech giant that skipped the heavy AI spending, which he credits as the quiet winner while everyone else leapt in, though he says he would not buy it up here. He is trimming some shorts into a huge week of Mag Seven earnings and the Fed.
Video Length: 00:22:37
Video Chapters:
00:00 The relief rally is already spent
00:55 An 18-year bull run at peak valuations
02:16 Still short tech, adding to XLK
03:43 South Korea's leveraged blowup
05:47 Why Apple skipped AI and won
06:48 SpaceX keeps making new lows
08:10 Mega IPOs are dead
09:32 An AI trade that feels like 2006
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