The Long & Short

The midterm results are in, the market has taken them in its stride, and the AI trade has been through a full washout. Is this the clearing event that sets up a bounce, or is there more pain to come?In this episode of The Long & Short, Rich McDonald joins live from Rome as he and Piers Buckworth unpack what the midterm results mean for markets, why the AI trade has moved from overbought to oversold, and what earnings from Intel, AMD, Apple and Palantir are telling us.They also explore Marvell's controversial bid for Lumentum, the stocks Piers is watching for a risk-on rally, and which of the big tech names came out of earnings season on top.In this episode:What the midterm results mean for markets, and how much was already priced inWhy uncertainty is a killer for markets, and what a clearing event looks likeHow hedge fund liquidations have washed out the AI tradeWhat went wrong at Intel, and whether the sell-off is now an opportunityWhy AMD is winning, and the AMD vs NVIDIA pair tradeWhy Apple looks expensive and Palantir is growing into its valuationThe stocks Piers is watching for a risk-on rally, from IREN to ServiceNowWhy consumer names like MGM and Crocs are rallying while AI strugglesMarvell's bid for Lumentum, and why shareholders hated itThe earnings verdict on Meta, Amazon, Google and Microsoft📖 Chapters:00:00 – Introduction: Live From Rome01:12 – The Midterm Results & What the Market Had Priced In05:40 – Certainty, Clearing Events & What a Lame Duck Means08:28 – The AI Washout: Hedge Fund Liquidations & Free Cash Flow10:40 – Intel: What Went Wrong & Is It Now an Opportunity?15:20 – AMD vs Intel vs NVIDIA19:04 – Apple: Too Far Ahead of Its Skis?20:50 – Palantir: Growing Into Its Valuation24:20 – The Risk-On Basket: IREN, ServiceNow, Meta & Small Caps26:50 – Could the Nasdaq Fall Another 10%?28:55 – MGM, Crocs & Why Rotations Matter30:55 – Marvell & Lumentum: The M&A Deal Shareholders Hate37:40 – Earnings Verdict: Meta, Amazon, Google & Microsoft📲 Stay connectedSubscribe to The Long & Short for weekly discussions on financial markets, trading opportunities and the forces shaping global investing.Rich McDonald:🌐 richonmarkets.com – Market commentary and newsletters.📱 @richonmarkets on all social platforms.Piers Buckworth:🌐apex-trading.co.uk – Trading insights, market analysis and professional trading education.📱Instagram @apextradingdesk | TikTok & Substack @apexalphatrading | X@ApexTradingDesk | YouTube @ApexTradingChannelFor a longer-term perspective on investing, ETFs and portfolio construction, check out The Art of Investing podcast released every Friday!Your capital is at risk. 70% of retail investors lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Markets are rotating back to risk, but with the Fed, the midterms and Big Tech earnings all landing at once, is this the start of a year-end rally or another false dawn?In this episode of The Long & Short, Rich McDonald and Piers Buckworth are joined by options specialist Imran Lakha to unpack a huge week for markets, from SK Hynix's blowout results and the Fed to whether AI has become too big to fail.They also explore how to use options to get paid while you wait for a better entry, why uranium, rare earths and solar are being sold despite strong fundamentals, the first cracks in the refiners, and what the VIX is really telling us ahead of the midterms.In this episode:Why the midterms could cap an AI rally in the short termSK Hynix's blowout results and what they say about AI demandWhy bonds are rallying again, and what to expect from the FedWhether AI will push inflation down, and what it means for jobsHas AI become too big to fail?IREN, Nebius and how to tell the strong neoclouds from the weakHow selling puts and put spreads can get you a better entry priceWhy uranium, rare earths and solar stocks are struggling despite strong fundamentalsOil refiners, Brent and hedging your winners with risk reversalsWhat the VIX is (and isn't) telling us ahead of the midtermsEarnings previews for Microsoft, Amazon and Google📖 Chapters:00:00 – Introduction: Imran Lakha Joins the Show02:18 – Midterms, AI Fear & a Big Week for Markets04:17 – SK Hynix, Memory Stocks & the AI Demand Story07:47 – Bonds, the Fed & Is AI Deflationary?12:05 – AI, Jobs & Is the AI Trade Too Big to Fail?16:11 – IREN, Nebius & Selling Puts for a Better Entry24:37 – Uranium, Solar, Hydrogen & Rare Earths32:47 – Oil Refiners, Brent & Hedging With Risk Reversals37:24 – The VIX, the Midterms & How Options Are Changing Markets41:22 – Moderna, Cerebras & 0DTE Options46:57 – Earnings Preview: Microsoft, Amazon & Google📲 Stay connectedSubscribe to The Long & Short for weekly discussions on financial markets, trading opportunities and the forces shaping global investing.Imran Lakha:🌐options-insight.com – Options courses, the A to Z of Options and a membership community for options traders.📱X @options_insightRich McDonald:🌐 richonmarkets.com – Market commentary and newsletters.📱 @richonmarkets on all social platforms.Piers Buckworth:🌐apex-trading.co.uk – Trading insights, market analysis and professional trading education.📱Instagram @apextradingdesk | TikTok & Substack @apexalphatrading | X@ApexTradingDesk | YouTube @ApexTradingChannelFor a longer-term perspective on investing, ETFs and portfolio construction, check out The Art of Investing podcast released every Friday!Your capital is at risk. 70% of retail investors lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

AI demand remains strong, but growing credit concerns, rising bond yields and inflation fears are putting pressure on some of the market's biggest technology names. Is this simply a buying opportunity, or are deeper risks beginning to emerge?In this episode of The Long & Short, Rich and Piers unpack the AI sell-off, examining the financial pressures facing CoreWeave, NVIDIA's expanding role in AI financing and what upcoming earnings from Meta could mean for the sector.They also explore Elon Musk's ambitious growth plans, opportunities in short selling, and how oil prices, geopolitical tensions and shifting market sentiment could shape the next big market move.In this episode:Why AI stocks are falling despite continued strong demandThe growing credit risks facing CoreWeave and other AI infrastructure providersHow NVIDIA's financing commitments are changing its investment outlookElon Musk's ambitious growth plans and potential Tesla merger discussionsWhat Meta's upcoming earnings could reveal about AI spendingWhy Microsoft is regaining investor confidence while Apple looks expensiveThe risks of crowded trades and opportunities in short sellingHow oil prices, inflation and geopolitical developments could influence marketsWhy US Treasuries and defensive positioning remain importantPotential opportunities in undervalued stocks including Pfizer📖 Chapters:00:00 – Introduction: Is the AI Trade in Trouble?02:10 – AI Demand vs Credit Risk: What's Really Driving the Sell-Off?04:03 – CoreWeave, Nebius & IREN: Understanding AI Infrastructure Debt13:57 – NVIDIA's Growing Role as an AI Financier17:16 – Elon Musk, AI Growth & the Tesla Merger Question25:43 – Meta Earnings: The Next Big Test for AI Spending30:51 – Microsoft, Apple & the Outlook for Big Tech35:23 – CrowdStrike, Palantir & Managing Short Positions38:06 – Oil Refiners, Inflation & Geopolitical Risks41:43 – Treasuries, Market Rotation & Opportunities in Undervalued StocksStay connected:Subscribe to The Long & Short for weekly discussions on financial markets, trading opportunities and the forces shaping global investing.Rich McDonald🌐richonmarkets.com – Market commentary and newsletters.📱@richonmarkets on all social platforms.Piers Buckworth🌐 apex-trading.co.uk – Trading insights, market analysis and professional trading education.📱: Instagram @apextradingdesk | TikTok & Substack @apexalphatrading | X @ApexTradingDesk | YouTube @ApexTradingChannelFor a longer-term perspective on investing, ETFs and portfolio construction, check out The Art of Investing podcast released every Friday!Your capital is at risk. 70% of retail investors lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.