Syz the moment

- 19 consecutive months of net OUTFLOWS - SHORT INTEREST at new all-time highs - Price hitting new multi-year highs What if inflows start to come back and the shorts are forced to cover? Source chart: J-C Parets

While gold is up less than any of the other four metals this year, through yesterday's close, the only other year with a larger YTD gain was in 2016. The only other year it was up over 20% was in 2006 (22.3%). Platinum's 55.6% gain is easily a record through this point in the year. In fact, it's double the prior record of 27.8% that was reached in 2006 and 2008. The only other year that platinum gained more than 20% YTD through 7/8 was in 2000 (23.6%) and 2016 (23.4%). Silver and copper have both experienced 20%+ YTD gains through 7/8 more than gold and platinum. Silver had a larger YTD gain last year and has now had six 20%+ YTD gains since 1990. Copper's 41.2% gain this year ranks as the best since 2009 (53.1%) and is the seventh time that the commodity has rallied more than 20% YTD. While all four commodities have experienced other YTD gains of 25%+, this year is the first time all four have rallied 25%+ YTD through 7/8 in the same year. The only time they ever all simultaneously rallied 20%+ YTD was in 2006, and the only other year when all four were even up 10% YTD at this point in the year was in 2008. Other years since 1990 have seen big runs in the metals, but none of them have been quite like the 25%+ across the board gains in 2025. Source: Bespoke

Source: Vivek

(As of July 9, 2025) USD: −92% S&P 500: −83% Nasdaq 100: −82% Gold: −84% Crude Oil: −86% Median Home: −89% Avg. Wage: −89% Big Mac: −90% MSTR: +188%

(This is the S&P 500 performance during the 2 Trump mandates) Source: Zerohedge

Well, we saw record closing prices today for both $QQQ and $IBIT. Source: Bloomberg, Eric Balchunas

Nvidia $NVDA shares jumped more than 2% on Wednesday and topped a $4 trillion market cap for the first time ever. The chipmaker is the first company to achieve this milestone and has benefitted from the generative AI boom.

New funds now offer exposure to OpenAI, SpaceX & Epic Games -- starting at just $10. SoFi Technologies SOFI +is expanding access to private markets, an asset class once reserved for institutional investors and high-net-worth individuals. Following this news, SOFI stock surged about 5% shortly after the market opened on Tuesday and hit a new 52-week high of $20.89. Through new partnerships with asset management firms such as Cashmere, Fundrise, and Liberty Street Advisors, SoFi is allowing its members to invest in high-growth private companies like OpenAI, SpaceX, and Epic Games with a minimum of $10. SOFI is Breaking Down Barriers Private markets have often delivered strong returns but were inaccessible to retail investors. By lowering the entry point and simplifying the process, SoFi is making it easier and more affordable for retail investors to enter this market. This move is part of SoFi’s efforts to expand its alternative investment offerings. It recently added new funds from big names such as ARK, KKR, Carlyle CG and Franklin Templeton BEN , giving users access to private credit, real estate, and pre-IPO companies. Source: Tipranks.com, Bloomberg AI