Michael Santoli

michaelsantoli.bsky.social

18 October 2026 05:52

AI-foodchain stocks have been under pressure for four months. Yesterday's dump in leveraged data-center names was noisy and dramatic but not new. The speculative crescendo in AI sectors came in the May-June momentum stampede. Those springtime peaks now form a potential support band for the S&P 500.

Michael Santoli

michaelsantoli.bsky.social

18 October 2026 05:52

As a furious rally in Treasuries rages, I'll note again that the 2026 bond selloff had rebuilt a helpful yield cushion against risk. From my newsletter 16 days ago, noting that the reason to rebalance into bonds is not because one knows that a turn is near, but because one never knows what's next.

Michael Santoli

michaelsantoli.bsky.social

18 October 2026 05:52

With all professional respect for needing to have a take on deadline, this is classic "sounds good when you write it, not when you really think about it" stuff. Small sample size, random success by statistically mediocre players in a postseason field with closely clustered AL teams, talent-wise...

Michael Santoli

michaelsantoli.bsky.social

18 October 2026 05:52

At the NYSE this morning, a floor old-timer came by and said, "Friday Oct. 16, Monday is Oct. 19 - just like in '87..." Sure. One thing different from '87 is you didn't then have people with living memory of a one-day 22% crash who saw a possible rerun on the screen when they blur their eyes...