JUST IN: Bitcoin has dipped below $91,000 for the first time since April 22, reflecting a 28% drop from its all-time high. In the last seven days, total cryptocurrency liquidations have surpassed $5 billion in losses.

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Most traders are chasing profitability when they should be chasing consistency.

Profits don’t build consistency, but consistency builds profits.

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💣 Amazon Raises 12B To Fuel Its AI Buildout

Amazon is joining the biggest debt binge in tech history as companies race to build AI data centers before borrowing costs rise.

The Amazon numbers:

🔊 125B projected capex for 2025, up from 89.9B through Q3
🔊 Six tranche offering with maturities up to forty years, AA minus rated
🔊 Pricing around 115 bps over Treasuries with spreads sitting near the historic low of 81 bps

Tech firms borrowed 75B in September and October 2025 which is more than double the annual average of the past decade. Meta’s October sale pulled in 125B in orders for 30B in debt which shows massive investor appetite.

JPMorgan expects tech to borrow 252B in 2026 which would push total US corporate issuance to a record 1.81T.

Tech companies are locking in cheap debt now because the infrastructure demands are only getting heavier.

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📉 Unusual market signal from the selloff

US stocks led the move down, but the usual safety flows never showed up. Neither the dollar nor Treasuries reacted the way they normally do in risk-off.

🔊 EM equities outperformed while US equities dragged

🔊 This behavior looks more like an emerging-market dynamic inside the US market

🔊 The EM vs US ratio is bouncing from deeply undervalued levels

The message is simple: this shift is worth watching. Moves like this tend to repeat, not disappear.

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The real money in trading is made when a trend is young. When a stock is just coming out of a big base and starts moving up for the first time, that is where the strongest and cleanest moves happen. The stock is fresh. The buyers are just getting active. The energy is building.

This is the stage where smart traders enter quietly. Most people are still doubting the move or waiting for confirmation. But the early trend is where you get the best risk to reward and the smoothest swings.

As the trend gets older, the story changes. Now everyone can see it. The stock has already gone up a lot. Every breakout becomes choppier. Every pullback gets deeper. More people enter late and the move starts to lose strength. You can still make money here, but the easy part is over.

Your goal is simple. Learn to spot trends when they are young. Look for a stock that has been going sideways for a while, forms a base, and then starts breaking out with strength. That is where the clean move begins. That is where the probability is highest. And that is where most traders miss out because they wait for too much confirmation.

If you enter early, you ride the whole trend. If you enter late, you only get leftovers.

The big money always comes from catching the trend when it is just waking up.

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🧾 New SF Fed study flips the tariff narrative

A 150-year review of US tariff policy shows a surprising pattern: tariffs push inflation up in the short term, but the recessionary drag that follows is stronger and ends up pulling inflation down over a 1–3 year window.

🔊 Tariffs are both inflationary and recessionary

🔊 The recessionary effect dominates over time, lowering inflation

🔊 This aligns with what 2025 data already shows

🔊 These findings could influence upcoming FOMC decisions

Markets love simple narratives, but this one isn’t that simple. Tariffs may push prices up at first, but the slowdown they trigger ends up mattering a lot more for the Fed.

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⚡️ Nvidia’s Valuation vs The Entire US Energy Sector

Nvidia is now worth almost three times more than the whole US energy sector, yet it doesn’t generate more free cash flow.

Over the past year, the combined free cash flow of energy companies in the S&P 500 came in about twenty percent higher than Nvidia’s.

🔊 Nvidia market cap around 4.6T
🔊 US energy sector around 1.7T
🔊 Energy sector free cash flow roughly 898B
🔊 Nvidia free cash flow around 728B

Tech keeps rewriting the rules, but the chart is a reminder that real infrastructure still powers everything underneath the AI boom.

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JUST IN: President Trump says $270 billion worth of agreements are being signed with “dozens of companies” today.

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JUST IN: The US Labor Department announces that it is CANCELLING the October jobs report.

For the first time since 2013, we will not be receiving a monthly jobs report.

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