Earnings Sent Signals — Were You Listening?

Last week wasn’t just noise...the market actually handed out clues — if you knew what to look for - but seems most investors were too busy watching Nvidia memes to notice.

Winners Were Precise, Not Broad

Tech is still carrying, but not blindly.

Palantir rose 6.5% on new government AI contract wins. Government money is sticky, and Palantir is locking it in.
Broadcom beat earnings, raised guidance… and still dropped 5%. Expectations were fully priced in. If you're not early, you're just exit liquidity.

Meanwhile, Lululemon got hit hard — nearly 20% down after cautious guidance and signs that even the premium consumer is pulling back. We shorted. We'll be publishing a deep-dive on why we're turning away from luxury consumer brands like these. In contrast, Casey’s General Stores reminded everyone that essentials still matter — gaining 10% on strong sales and a dividend boost.

What It All Means

Retail is splitting — value and essentials are holding strong, luxury is faltering. We're not the only ones to notice.
Tech will only rally if it's real. AI narratives without substance are getting punished.
Small caps are still waiting their turn, unless they’re directly tied to automation, infrastructure, or applied AI.

HET’s Take

This wasn't a risk-on week. It was a precision-on week. The market isn’t rewarding vague momentum anymore — it wants clarity, execution, and forward visibility.

All this being said, we’re looking closely at automation infrastructure. Symbotic (SYM) is still quietly outperforming, riding 40%+ YoY revenue growth with zero debt and $1B cash stashed. CoreWeave (CWVE) is emerging as a retail favorite with real AI infrastructure exposure. These aren’t trades for us....they’re trends with teeth.

The S&P can flirt with highs all it wants. We're not chasing the index — we're stalking conviction setups.

We know where the capital is going. The only question is: do you?

— HET