CAPEX: has #slowed from +4.3% y/y in JAN to +0.86% JUL

While that was reported as new news today, it was not discussed AT ALL on Old Wall Media

In short, not a dopamine friendly $NVDA-esque update that will change minds, hearts, forecasts, or prevailing biases

This is the largest selling event we've seen from vol control funds since late 2022, with an estimated $28B of selling flow hitting the market.

A textbook example of negative gamma driving up realized volatility, which causes these quant funds to sell equities. $SPX $VIX

Diogenes Eliav Assouline B🅰️sed Capital🏛️ Twain's Mustache "Fraud Disrespector" REITRob Can the $DLR bulls, mgmt., or sell-side shills explain to me when we should expect to see an improvement in earnings, cash flow, and ROIC with all of these powerful secular tailwinds around “AI” & the cloud?

New 12z Euro shows a tropical storm coming in next week on the west coast of Florida.

I’ll be posting model runs a plenty over the next few days to keep you all updated.

This is 1 run of 1 model, but I’ll be posting as many as I can.

Old enough to remember 'Prospect neutral basis' $MPW

Should dust that one off fellas, except this time to back out the inevitable litigation costs.

Those $XLRE SEP Puts are already up +25% intraday

And now it has to do battle with #Sephora at $KSS. My sense is that $ULTA will defend its share aggressively, which is going to cost a lot on margin. Best Idea Short.

The days of $ULTA annihilating earnings expectations are over. The Gross Margin miss is super bearish, as is the 1% decline in transaction value. Remember, this quarter INCLUDED a 5% price increase and GM was still down 110bps. What happens in 2H when there's no more price?

Perma Bulls have been welcoming me back all day brother Brewster!

0dte contracts accounted for nearly 54% of the total $SPX option volume today. The lack of volume below the close not only reflects the sharp drop-off at the end of the day but also suggests a bulk of the activity was happening at or near the money.

You guys are doing essential quantitative research #KeepPushing

Cartoon of the Day

Long-time $NVDA investors could not have envisioned a better future for the stock.

Up 200%+ YTD? OMMMMG!

app.hedgeye.com/insights/13832…

And people still find a way to bid up $DLR on $NVDA data center bs

Chart of the Day

Capital expenditures dropped to a new cycle low in July (+0.86% Y/Y), a reflection of companies' dour outlook and hesitancy to invest in the future.

app.hedgeye.com/insights/13829…

Old Wall Chart Monkeys got right runover by our USD Breakout Signal, eh?

$AMC

We are witnessing the biggest stock market shift in decades.

It's critical for investors to understand the transition from efficient markets ➡️ inelastic markets and what it portends for asset prices.

'The efficient market hypothesis presumes that a dollar into the market –…

A pro’s pro David Salem

This is who they are. And I will keep shining a disinfecting light. $MPW