[Today’s Focus – Top Stocks and Cryptocurrencies] | November 10 (London Time) 🌐 I. Cross-Asset Core Observations (Asset Class Overview) 📈 U.S. Equities: On November 9, the Dow rose +2.15% to 52,389.75, the S&P 500 gained +2.35% to 7,549.94 (its best single-day gain since April), the Nasdaq increased +2.74% to 25,253.14, and the Philadelphia Semiconductor Index surged +6.85% to 10,033.93. The rebound was driven by falling oil prices and chip inventory restocking, with NVIDIA being a notable exception. This morning, the Nikkei rose +2.87% to 60,459.58, KOSPI climbed +4.39%, and Taiwan’s TAISEX added +2.52%. 🥇 Gold (~$4,118): Spot prices remained flat; gold holds above $4,100 amid declining oil prices and lingering expectations of a December rate hike. 🪙 Cryptocurrencies: BTC at ~$74,749 (+1.3% in 24h), ETH at ~$2,115 (+1.0%); BTC remains below Strategy’s disclosed average cost of ~$75,451. 🏛️ II. Key Watchlist – Equities 🟢 NVDA NVIDIA −4.27% (Priority: A) 💡 Rationale: Closed at $178.67; board investigation into Jensen Huang coincided with the Philadelphia Semiconductor Index rising +6.85%, resulting in NVIDIA underperforming by approximately 11.1 percentage points on the day. We expect NVIDIA will not outperform the Philadelphia Semiconductor Index by more than 3 percentage points before today’s close (55% confidence). 🔍 Key Watch: Progress of the investigation and updates on China licensing; earnings report after market close on November 17. 📈 SOX Philadelphia Semiconductor Index +6.85% (Priority: A) 💡 Rationale: Closed at 10,033.93; cumulative gain of +11.35% since November 5 close, compared to +2.67% for the S&P 500 over the same period. 🔍 Key Watch: Ability to hold above 10,000 post-CPI data. 🟥 AMD +13.26% / 🔌 AVGO Broadcom ~+8.8% (Priority: A) 💡 Rationale: AMD closed at $508.58 after analyst upgrades; capital is rotating within the chip sector rather than exiting AI exposure. 🔍 Key Watch: Whether the rebound continues after Cisco and Applied Materials earnings reports. 💾 MU Micron +6.25% (Priority: B) 💡 Rationale: Closed at $733.15; our prior assessment that “Micron would not underperform the Philadelphia Semiconductor Index by more than 5 percentage points” was invalidated as of November 6 close (underperformance of ~7.7 percentage points). 🔍 Key Watch: Storage pricing metrics. 🐤 CRWV CoreWeave (Priority: A) 💡 Rationale: Earnings report after market close tonight. 🔍 Key Watch: Backlog orders, financing costs, and impact of state-level data center constraints on delivery timelines. 🏭 TSM TSMC (Priority: B) 💡 Rationale: October revenue up +59.7% YoY and +14.7% MoM; chip demand has not softened despite post-election narrative shifts. 🔍 Key Watch: Applied Materials guidance on November 12. 🟦 MSFT +2.75% / 📦 AMZN +2.94% / 🍎 AAPL +2.43% (Priority: B) 💡 Rationale: Closed at $545.18, $266.93, and $350.69 respectively; broadly tracking market rebound. 🔍 Key Watch: Capital expenditure metrics (unverified observation). ₿ MSTR Strategy (Priority: B) 💡 Rationale: BTC remains below its average holding cost (price not yet validated). 🔍 Key Watch: MSCI final index publication on November 11. 🪙 III. Key Watchlist – Cryptocurrencies 🟠 BTC (~$74,749) (Priority: A) 📉 Data: +1.3% in 24h; still below Strategy’s average cost of ~$75,451. 🔍 Key Watch: Ability to reclaim $75,451 post-CPI; ETF flows. 🔵 ETH (~$2,115) (Priority: A) 📉 Data: +1.0% in 24h. 🔍 Key Watch: Correlation with Nasdaq movements. 🟡 BNB (~$690) (Priority: A) 📉 Data: +1.9% in 24h. 🔍 Key Watch: Withdrawals and reserve levels. 💧 HYPE (~$74.6) (Priority: A) 📉 Data: +2.6% in 24h. 🔍 Key Watch: Buyback metrics (pending validation). 🛡️ ZEC (~$1,149) (Priority: B) 📉 Data: −4.0% in 24h; the only major crypto to decline today. 🔍 Key Watch: Whether its relative strength has ended. 🟣 SOL (~$85.9) (Priority: B) 📉 Data: +0.2% in 24h. 🔍 Key Watch: $90 resistance level. ✖️ XRP (~$1.09) (Priority: B) 📉 Data: +0.6% in 24h. 🔍 Key Watch: Near $1.10 level. 💵 ENA (~$0.153) (Priority: C) 📉 Data: +4.4% in 24h. 🔍 Key Watch: USDe supply dynamics. 🛢️ IV. Key Watchlist – Oil & Gold ⛽ Brent Crude (~$92.57) (Priority: A) 🚨 Rationale: Settled −5.85% at $92.57 on November 9; Trump stated the war with Iran is “militarily essentially over,” but no formal agreement has been announced. Our prior assessment that “at least one settlement will return to $100 before November 14” is clearly incorrect. 🔍 Key Watch: Whether verifiable text emerges from U.S.-Iran talks; OPEC monthly report on November 11; IEA monthly report on November 13. 🥇 Gold (~$4,118) (Priority: A)🚨 Logic: Essentially flat, as falling oil prices offset expectations of rate hikes. 🔍 Key focus: Whether $4,100 can be held after the CPI release. Not investment advice. Sources: CNBC, Investing/Reuters, Nasdaq, Yahoo/Exa, AP, Yonhap, TSMC, CoinGecko, Reuters/Euronext, U.S. Department of the Treasury