Alphabet Class A Stock (GOOGL)

This chart is pretty good on tokens: https://openrouter.ai/rankings?view=month A few observations: * Looking at the chart, token UNITS interestingly seem to be really flattening overall. * Re chart later in this note, token pricing is cratering. In part because unit growth is slowing, in part because the current pricing is dis-economic for customers, and in part …

Here are today’s things: * I sold out the following longs: ($AMZN) $236.89 ($GOOGL) $330.07 ($MSFT) $450.31 ($SNDK) $1156 * Added to ($MSOS) $4.04, ($TRLV) $8.02 and ($GTBIF) $6.92 Positions: Long MSOS VVL TRLV S GTBIF S

I am out of longs in SNDK ($SNDK), AMZN ($AMZN), GOOGL ($GOOGL) and MSFT ($MSFT). Positions: None.

Microsoft ($MSFT) was a pleasant surprise with growth at Azure accelerating. Mets ($META) not so much. We remain long $MSFT, Amazon ($AMZN) and Alphabet ($GOOGL) in the Mag 7. More later… Position: Long MSFT (S), AMZN (S), GOOGL (S)

Yesterday was an extreme example of divergence within the market and in the tech space. Memory and chips were an unmitigated disaster as the hyperscalers (e.g. $MSFT, $GOOGL) flourished. Meanwhile, the consumer staples (defensive) ripped higher in a sea of market red. I see Monday’s action as another example of potential market structure risks in which, in …