The Long & Short

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 term
• SK Hynix's blowout results and what they say about AI demand
• Why bonds are rallying again, and what to expect from the Fed
• Whether AI will push inflation down, and what it means for jobs
• Has AI become too big to fail?
• IREN, Nebius and how to tell the strong neoclouds from the weak
• How selling puts and put spreads can get you a better entry price
• Why uranium, rare earths and solar stocks are struggling despite strong fundamentals
• Oil refiners, Brent and hedging your winners with risk reversals
• What the VIX is (and isn't) telling us ahead of the midterms
• Earnings previews for Microsoft, Amazon and Google

📖 Chapters:
00:00 – Introduction: Imran Lakha Joins the Show
02:18 – Midterms, AI Fear & a Big Week for Markets
04:17 – SK Hynix, Memory Stocks & the AI Demand Story
07:47 – 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 Entry
24:37 – Uranium, Solar, Hydrogen & Rare Earths
32:47 – Oil Refiners, Brent & Hedging With Risk Reversals
37:24 – The VIX, the Midterms & How Options Are Changing Markets
41:22 – Moderna, Cerebras & 0DTE Options
46:57 – Earnings Preview: Microsoft, Amazon & Google

📲 Stay connected

Subscribe 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_insight

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 @ApexTradingChannel

For 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 demand
• The growing credit risks facing CoreWeave and other AI infrastructure providers
• How NVIDIA's financing commitments are changing its investment outlook
• Elon Musk's ambitious growth plans and potential Tesla merger discussions
• What Meta's upcoming earnings could reveal about AI spending
• Why Microsoft is regaining investor confidence while Apple looks expensive
• The risks of crowded trades and opportunities in short selling
• How oil prices, inflation and geopolitical developments could influence markets
• Why US Treasuries and defensive positioning remain important
• Potential 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 Debt

13:57 – NVIDIA's Growing Role as an AI Financier

17:16 – Elon Musk, AI Growth & the Tesla Merger Question

25:43 – Meta Earnings: The Next Big Test for AI Spending

30:51 – Microsoft, Apple & the Outlook for Big Tech

35:23 – CrowdStrike, Palantir & Managing Short Positions

38:06 – Oil Refiners, Inflation & Geopolitical Risks

41:43 – Treasuries, Market Rotation & Opportunities in Undervalued Stocks

Stay 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 @ApexTradingChannel

For 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.