Check out my interview with @AJInsight about Bio-Intelligence and 4 stocks to ride this 10 year megatrend.

CoreWeave $CRWV lost 25.8% last week, the worst in the Nasdaq 100, and its 2032 notes now yield more than 15%. Pull back and the problem is bigger than one company. Barclays counts about $80 billion of data center bonds sold so far in 2026, and roughly $37 billion of it is rated junk. Last year the junk total was $8.6 billion. The average yield on those junk data center bonds is now nearly 10%. CoreWeave is the stress test. Roughly $4 billion of its corporate debt trades below 80 cents on the dollar. Its five-year credit default swaps hit a record 1,194.5 basis points this week. Total debt including leases is about $52 billion, against a $104 billion backlog. Jensen Huang said this week that CoreWeave does not need Nvidia to backstop it, and Nvidia owns about 10% of the company. The backlog is real. So is the coupon. TradeSmith's VQ puts CoreWeave's normal volatility near 86%. If you know how to use the VQ, you'd know that's not useful and makes this one of the most volatile stocks out there. Share your thoughts on CoreWeave.

Nebius $NBIS closed Friday at $165.47. Sunday night, Truist reiterated a Buy rating and a $355 target, more than double the price. The interesting part is not the number. It is how Truist gets there: 4.5 times expected 2028 sales. That is a multiple on work the company has largely already booked, with a contracted backlog above $40 billion and more than half of it from Microsoft and Meta. The bull case is not a story about winning new business. It is a question of whether the business already signed gets delivered on time and at the margins the contracts imply. Last week the stock lost about 21%. The 52-week high is $299.86. Monday morning it was up about 7% premarket after the Truist note, plus a $10 million European developer program with Nvidia and Accel. The selloff priced the financing risk. The target prices the execution. Both can be right at different times. Which 2028 number do you trust more here, the backlog or the multiple?

Eli Lilly $LLY has returned 49.7% over the past year. Behind that move is one of the fastest-growing drug categories in history. GLP-1 weight-loss drugs generated roughly $55 billion in sales over the past 12 months, according to IQVIA. Lilly sits at the center of it. The company posted 48% quarterly sales growth, a pace most large-cap pharma names can only dream of. Demand for its Mounjaro treatment jumped 91%. That is not a niche launch, that is a product reshaping an entire category. This is the Boomer healthcare theme in one stock. An aging, health-focused population is pouring money into treatments that help people live longer and better, and GLP-1 drugs have become the headline act. TradeSmith's Quantum Score on $LLY sits at 72, with a Fundamental Score of 83. The numbers say the underlying business strength is real, not just momentum. The risk is expectations. When a stock runs this hard on a hot category, the bar for each earnings report keeps rising. But the demographic and demand backdrop here is about as strong as it gets in pharma. Is $LLY still a buy at these levels, or has the GLP-1 trade gotten crowded?

Pre-market and after-hours trading look like the regular session with the lights dimmed. They are not. Far fewer buyers and sellers show up, so the gap between bid and ask widens and a single order can move the price. News hits in those hours, and prices lurch on thin volume. If you trade outside regular hours, use a limit order every time. A market order in a thin session is an invitation to get filled badly.

$XOM, $SU, $CNQ, and $EQNR just hit all-time highs, and so did the energy ETF $XLE. The oil bull market nobody talks about keeps minting new highs. We went long oil stocks back in September of last year, and the thesis has only strengthened since. Three forces are driving it. First, Middle East oil infrastructure took real damage, and flows may take more than a year to return to pre-war levels. That keeps crude above $80 a barrel. Second, countries drained their buffer supplies and now have to refill them, adding steady demand on top of tight supply. Third, adjusted for dollar debasement, the major oil and gas ETFs are actually down over the past decade. This is not a crowded trade. The war in the region has been a bonus accelerant, not the core reason to own energy. The smart positioning favors supply outside the Middle East: Canada with $SU and $CNQ, Norway with $EQNR, and Brazil. Service names like $XES give leverage to the same trend. All-time highs across $XOM and $XLE tell you the trend is confirmed, not exhausted. Which energy name are you holding into year-end?

$MU closed Friday at $878.84, down 14.6% for the week, while KeyBanc came back from an Asia supply-chain trip and reiterated a $1,750 target. KeyBanc's John Vinh sees fourth-quarter DRAM contract prices up 15% to 20% from the prior quarter, NAND up about 20%, and HBM pricing potentially up 80% to 100% in the first quarter of 2027 as capacity shifts to data centers. Micron already locked in the other side of that trade. Customers have put down $32 billion of financial commitments. 26 long-term supply agreements cover more than 35% of revenue through 2030, and three quarters of that revenue carries a defined pricing framework with floor and ceiling prices. On Thursday, Micron opened its second advanced packaging plant in Taichung, and its Taiwan chairman said HBM bookings are fully taken through 2027. The stock trades at about 5 times forward earnings. TradeSmith's Quantum Score on $MU still reads 76 out of 100 after this week. Does a floor-and-ceiling contract book deserve a 5 times multiple?

I've been sharing that we're in a "Stealth Correction" and I'm starting to see the data flip and show that money is rotating beneath the surface. Comment on your thoughts on the market. Black Monday or the start of the next bull leg?

The U.S. population aged 80 and older is projected to nearly double between 2025 and 2045. That demographic wave is already showing up in price. The Invesco S&P 500 Equal Weight Health Care ETF $RSPH just pushed to a fresh one-year high while other sectors stalled. Aging demographics plus a wave of medical technology breakthroughs are the two engines here. More people living longer means more demand for diagnostics, devices, and treatments every single year. The equal-weight structure matters. Instead of leaning on one or two mega-caps, $RSPH spreads exposure across the whole sector, so the breakout reflects broad strength rather than a single winner. Names inside the trend worth knowing: Illumina $ILMN in gene sequencing, Revvity $RVTY in life sciences tools, Intuitive Surgical $ISRG in robotic surgery, Biogen $BIIB and Pfizer $PFE in drugs, and ResMed $RMD in sleep and breathing devices. TradeSmith's VQ on $RSPH is just 12, placing it firmly in the low-risk green zone. A breakout backed by a reading that low tends to signal a steady trend, not a spike to fade. Health care spent years out of favor while tech ran. A move to new highs on broad participation is the kind of rotation that can last. Which of these health care names are you watching here?

A small float is a small pool. Throw the same rock in and the splash is bigger. When only a sliver of a company's shares are available to trade, a modest wave of buying or selling can swing the price violently. That is why thin little names can double or halve on news a large company would shrug off. Before you size a position, check the float. Small floats are where the wild rides live.

$NBIS closed Friday at $165.47 with a market value near $45 billion. Its committed backlog is more than $40 billion. Friday's 12% drop came on 31 million shares, about 1.7 times normal volume. The stock lost more than 20% for the week and now sits 45% below its June record of $299.86. Here is what did not change. Microsoft and Meta make up more than half of that backlog. Management guides 2026 revenue to $3.0 billion to $3.4 billion and expects more than $9 billion of customer prepayments this year, per Rosenblatt's write-up of the plan. The debt stack is $5.75 billion of convertibles at 0.50% and 4.50% plus a $775 million loan. Customers are paying up front for capacity that is already sold, and the equity now costs roughly what the signed contracts are worth. The market is not pricing cancellations. It is pricing the cost of building what has already been sold, at a time when oil is above $100 and the 10-year yields 5.1%. At 1.1 times backlog, is the risk in the contracts or in the construction?

MSC Industrial $MSM is up 54% over the past year, with W.W. Grainger $GWW up 41.6% and Fastenal $FAST up 21.5%. These are not flashy tech names. They sell the nuts, bolts, tools, and industrial supplies that keep American factories running. When the picks-and-shovels distributors of US manufacturing are ripping, it tells you the factories they serve are busy. All three are posting year-over-year quarterly revenue growth above 7.5%. That is real demand, not just multiple expansion. TradeSmith's Quantum Score has $MSM at 78 with a technical score of 85, among the strongest readings in the group, and $FAST at 71. Industrial distribution is a direct bet on activity hitting the factory floor, and the tape says that activity is rising. The reshoring push behind US manufacturing tends to show up here before it shows up in the headlines. We have favored this corner of the market, and the leadership keeps widening. Watch the distributors for early signals on whether the industrial cycle stays strong.

A company's share count comes in two sizes, and only one of them trades. Shares outstanding is every share that exists. The float is the part the public can actually buy and sell, after you remove what insiders and big locked-in holders are sitting on. A stock can have a billion shares outstanding and a float a fraction of that. The float is the number that decides how the stock behaves.

This is more important than the stock you pick.

$ZETA is up 88% since my call back in January, and it just hit a fresh one-year high. The new-highs list this week is a tour of where real strength is hiding while AI chips chop sideways. Healthcare is quietly leading. The sector fund $XLV printed a new one-year high. Software is on a tear. $TEAM, $VEEV, $DOCU, $FRSH, and $PCTY all notched one-year highs. $ZETA, the AI application name, leads the group with that 88% gain since our recommendation. Payments are breaking out too. $V and $MA both hit one-year highs, a sign consumer spending is holding up. Even $EBAY joined the new-highs club. The lesson: while the semiconductor base consolidates, money is rotating into software, healthcare, and payments, not leaving the market. Breadth like this under the surface is what keeps a bull market alive. On the other side, hardware took the hit. $AMAT, $DELL, and $LITE each fell more than 15% in just five sessions. Rotation, not retreat. Bookmark this for your watchlist.

Apple $AAPL has committed $600 billion and Nvidia $NVDA $500 billion to US manufacturing over four years. Eli Lilly $LLY has pledged more than $50 billion to domestic manufacturing, with four more US plants announced this past year. Add it up and you get more than a trillion dollars flowing into American factories from just three companies. That kind of capital does not reverse quickly. It builds plants, hires workers, and creates years of demand for everything that goes into a modern factory. This is the backbone of the Made in America megatrend, and it is being funded right now. We have targeted the automation and precision-manufacturing names that benefit when factories get built, including machine-vision maker Cognex $CGNX, lidar player Ouster $OUST, and bearings specialist RBC Bearings $RBC. The logic is simple: when hundreds of billions get spent building domestic capacity, the suppliers of robots, sensors, and components sit directly in the flow. Policy tailwinds and corporate self-interest are pointing the same direction for once. Staying long this trend has worked, and the spending pipeline suggests it has further to run. Which reshoring beneficiary do you think has the most room left?

$TSLA opened Roadster reservations Thursday night at $50,000 for the Performance trim and $250,000 for the Thrust trim, for a car Elon Musk says enters production in 2028. The demo was the point. Ten cold-gas thrusters fed by 600 liters of compressed air lifted the prototype over a Cybertruck, a Semi, a Model Y and a Model 3. Tesla showed 0 to 60 in about one second, a 300 mile range and a top speed above 230 mph. Musk himself said the car "moves the needle" little on revenue. Take him at his word. The reveal came almost nine years to the day after the original 2017 unveil, and shares were indicated roughly 3% to 5% higher in early premarket chatter. The needle mover is Wednesday. Tesla reports third-quarter results on Oct 21 after the close, alongside $META, $IBM and $TXN. Deliveries, margins and the robotaxi rollout move this stock. Thrusters do not. Does the Roadster change your view of $TSLA into Wednesday's earnings?

Micron $MU fell to $858 at Thursday's low and closed at $931.24, an 8% round trip in a single session on 38.9 million shares, about 50% above its average volume. The flush came from Korea, where Samsung fell 9.5% and SK Hynix fell 11.1%. The recovery came from Micron's own calendar. Thursday Micron opened its second high-bandwidth memory packaging plant in Taichung. At the ceremony, COO Manish Bhatia said "the entire planned 2027 capacity is already sold out." That sits on top of guidance for $61.5 billion in revenue this quarter, plus or minus $1.5 billion, after a record $54.23 billion last quarter. A $35.16 billion buyback can start on Dec 9. The stock is still 26% below its $1,255 high. The open risk is labor. The Taoyuan union voted 99% to authorize a strike, mediation with the larger Taichung union is set for Oct 22, and the ask is 15% of operating profit, roughly $15 billion a year at last year's level. Is sold-out 2027 supply enough to hold the $858 low?

$V and $MA process about 85% of all US general-purpose credit card volume, and both just hit fresh all-time highs this week. That is not what a weakening consumer looks like. Both networks posted double-digit revenue growth last quarter, a direct read on how much Americans are actually spending. When the two companies that see nearly every swipe in the country are printing record highs, the "consumer is tapped out" narrative gets hard to defend. TradeSmith's Quantum Score backs the move: $V sits at 74 and $MA at 71, both with volatility (VQ) readings in the low teens. That is the profile of steady, low-risk leaders, not stretched momentum names. Card spending is one of the cleanest real-time windows into the economy, and right now that window is wide open. Strength here tends to ripple into the broader tape, since healthy consumers support earnings across retail, travel, and services. We have leaned into this read for a while, and the price action keeps confirming it. Watch whether the networks hold these highs into the next earnings cycle.

Some companies are pure bets on a rising commodity price, and when it rises they can soar many times over. But leverage is a double-edged sword. The same structure that multiplies the gains multiplies the losses when the commodity falls. These are speculations, not sleep-well holdings. If you play them, size them small and buy them hated. The upside is real, and so is the way down.