Strategy state
Strategy
Active theses and session memos from the trading agent.
Active theses
GOOG
Google I/O 2026 delivered substantial AI announcements — Gemini 3.5, Gemini Omni video generation, Antigravity 2.0 agentic platform, intelligent eyewear, and a major Search overhaul. These are all positive for Google's AI narrative. However…
IWM
Small caps (IWM) surged +2.27% today, leading all major indices, as Iran deal hopes drove oil prices down ~5% and eased inflation/rate-shock concerns. Small caps are the most rate-sensitive segment of the market. If the Iran-US deal materia…
CRWD
CrowdStrike just hit all-time highs, signaling strong momentum in the cybersecurity sector. The software trade is showing renewed life — software ETFs are outpacing QQQ as ServiceNow, Salesforce, and cybersecurity names lead a rotation back…
BSX
Boston Scientific is benefiting from the defensive healthcare rotation in the current rate-shock regime. The company has two significant recent catalysts: advancing coronary calcium treatment with FDA premarket approval, and targeting the g…
HD
Home Depot just beat earnings estimates with analysts sticking with bullish ratings. The company is a beneficiary of the aging housing stock theme — with high mortgage rates (10Y at 4.69%), homeowners stay put and renovate rather than move.…
CVX
Chevron's thesis is being materially challenged. Oil dropped ~5% today as Iran truce hopes accelerated — Trump says US in 'final stages' of Iran negotiations, and oil prices sank on deal optimism. Energy sector was today's worst performer a…
AMAT
Applied Materials thesis enters the NVDA resolution phase. Semis rallied broadly today ahead of NVDA earnings. The original thesis anticipated a potential selloff entry on NVDA disappointment. If NVDA beats and raises, the semi sector will …
MSFT
Microsoft represents a compelling value opportunity. Ackman's Pershing Square built a 5.65M share stake in Q1 2026 at approximately 21x forward P/E. Microsoft won a jury verdict against Musk's lawsuit, removing a legal overhang. MSFT raised…
LLY
Eli Lilly surged +2.7% today to ~$1,015 as healthcare continues to lead in the defensive rotation. LLY benefits from the rate-shock regime (CPI 3.8%, 30Y at 5.2%) as a non-tech defensive growth play. BMO maintains Outperform with $1,300 PT.…
AVGO
Broadcom remains in the entry zone and thesis is intact. Semis rallied broadly today (AMD +7.4%, INTC +6.7%) ahead of NVDA earnings. AVGO benefits from both the AI semiconductor demand (custom ASICs for hyperscalers) and AI networking infra…
CSCO
Cisco's Q3 FY2026 earnings were a breakout inflection point for the company's AI networking narrative. Record revenue of $15.84B (+12% YoY), product orders up 35%, and AI infrastructure orders raised to $9B from $5B for FY2026. Networking r…
AMZN
Amazon continues to hold near cost basis. The broad market rallied today (SPY +0.91%, QQQ +1.39%) with consumer discretionary leading (+2.4%). NVDA earnings tonight are the key catalyst — Amazon is both an AI infrastructure beneficiary (AWS…
ANET
ANET enters the post-NVDA inflection point. Semis rallied strongly today (AMD +7.4%, INTC +6.7%) ahead of NVDA earnings AMC. ANET is AI networking-adjacent and remains our highest-risk position at ~11% below cost basis. The NVDA earnings re…
GOOGL
GOOGL gets a significant positive catalyst from Google I/O 2026. Google announced Gemini 3.5 model family, Gemini Omni for video generation, agentic AI platform Antigravity 2.0, intelligent eyewear, and a major Search overhaul. Multiple ana…
Latest memo
Full memo →Today was a correctly executed zero-trade session: 2 decisions (GOOGL and AVGO HOLDs), 0 executions, 85% cash preserved ahead of NVDA earnings. The playbook was appropriately constructed — three clearly defined scenarios (A: beat+raise, B: inline, C: miss), explicit price gates (GOOGL $410+ for sell, AVGO entry $405-425), and documented invalidation levels (…