Daily Alpha · X
· Midday Alpha · by Buzzberg Research
Themes on this desk
Deleveraging
Serenity (@aleabitoreddit) cited a Reuters report that long/short, systematic and multi-strategy funds all lost more than 1% on Oct 22; another post attributed index damage to record SOXL/TQQQ forced selling while 68% of S&P constituents cl
Gold
DeItaone reported gold futures fell 1.1% to $3,980.80, heading for a nearly 4% weekly loss; UBS still sees $4,000 as key support while Alexander Good is short.
Oil
Brent topped $115 and WTI $101.62; the DOE authorized 400,000 barrels from the SPR for Phillips 66's Lake Charles refinery.
Ticker heat
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Top voices by smart followers and alpha score
Market Radar →Serenity (@aleabitoreddit): hedge-fund deleveraging, not retail, drove the AI selloff
Serenity (@aleabitoreddit) cited a Reuters report that long/short, systematic and multi-strategy funds tracked by Goldman Sachs all lost more than 1% on October 22, the first such sweep since the COVID crash, with tech-focused funds down about 10% in October. The post said retail bought NBIS, SNDK and TSM while institutions deleveraged.
Pretty crazy Reuters piece on the global selloff.
The flow read matters because it separates forced selling from a demand verdict; if institutions are the sellers and retail is absorbing, a stabilization in fund gross exposure can produce a sharp bounce.
Watch Goldman hedge-fund return data, prime-brokerage gross exposure and retail flows into NBIS, SNDK and TSM.
Source →Alexander Good is short gold, calling it narrative-driven above production cost
Good said he is short gold because it trades on narrative above production cost, arguing reserve-currency debasement is not imminent and that the metal is a story-driven asset.
I am short Gold, this is part of the reason.
The view is a direct challenge to the debasement trade; if real yields stay high and the dollar firms, gold's narrative premium can compress even with central-bank buying underneath.
Watch Gold's $4,000 level, US real yields and the dollar.
Source →TheValueist: Infosys shows AI revenue growth without services-spending expansion
TheValueist read Infosys' Q2 FY27 as AI revenue up 29% sequentially and large-deal bookings at $5.2 billion, while full-year constant-currency growth guidance fell to 1%-2% from 1.5%-3%. The implication is redistributed technology spend, not a broad services uplift.
$INFY KEY READ-THROUGHS FROM INFOSYS Q2 FY27 EARNINGS Infosys’s results indicate that enterprise AI adoption is accelerating without producing a
It separates AI adoption from labor-based IT services demand; vendors with security and consolidation exposure may gain while traditional BPO and discretionary services face pricing pressure.
Watch Infosys bookings conversion, IT-services pricing and security vendor wins.
Source →Quinn Thompson: Iran may take oil supply down with the economy
Thompson argued Iran was about 5-6% of global crude production before the war and may strategically disrupt supply as its economy is choked off, calling an oil crisis likely.
Cut one arm off to spare the other. Pre-war, Iran was ~5-6% of global crude oil production.
The thesis supports crude if Iranian exports are disrupted, but it is a tail-risk call rather than evidence of lost barrels today.
Watch Iranian exports, Hormuz tanker flows and whether Brent holds above $115.
Source →Jonah Lupton adds 15% to Bloom Energy after trendline bounce
Lupton said he added back the 10% trimmed before earnings and bought another 15% this morning after BE bounced off a trendline going back to July 2025, arguing backlog is growing faster than revenue and 2027 EPS can exceed $7.
Perfect bounce for $BE off the trendline going back to July 2025 I think $BE can do $7+ of EPS
The disclosed add shows conviction in backlog conversion and margin expansion after a post-earnings selloff; if revenue and EPS fail to compound, the add will look early.
Watch Q4 revenue growth, backlog conversion, gross margin and whether the July 2025 trendline holds.
Source →