Eclipse Solis☀️

Average Joe how loves to study and build things. Especially loves to study economics and finance. Also, I love to do technical analyses on the markets for fun.

[The Kobeissi Letter @KobeissiLetter]

Chinese investors are dumping Hong Kong stocks at a record pace:

Hong Kong equity ETFs listed in China posted a record -$3.7 billion in outflows last week, the largest weekly outflow on record.

This marks the 5th consecutive weekly outflow and the 10th over the last 12 weeks.

By comparison, Hong Kong stock ETFs saw 11 weekly outflows during the entire 2025.

Capital is rotating into China-listed semiconductor and AI-linked stocks, which investors view as more direct beneficiaries of the AI boom.

Even a +10% surge in Tencent on Tuesday failed to stop the outflows, with mainland Chinese investors using the rally as an opportunity to exit ~$268 million worth of its shares during the same day.

Chinese investors are turning away from Hong Kong.

[Barchart @Barchart]

Walmart $WMT plunges through its 100-day moving average for the first time this year 📉🤯👀

[Brew Markets @brewmarkets]

JUST IN: SpaceX has officially filed to go public.

Here are some key details:

• Ticker symbol: SPCX

• Exchange: Nasdaq

• Valuation: Expected to be as much as $1.5 trillion or more

• Expected IPO date: June 12, 2026

[John Stossel @JohnStossel]

California wants to tax billionaires MORE.

“The benefit,” say activists, “is going to outweigh a couple people moving out of the state.”

Here’s why they’re wrong:

[The Kobeissi Letter @KobeissiLetter]

BREAKING: The Trump Administration is investing $2 billion in quantum computing companies and will receive equity stakes in return, per WSJ.

Details include:

1. $1 billion of the package will be awarded to IBM, $IBM

2. Chip maker GlobalFoundries, $GFS, is receiving $375 million in funding

3. The rest of the companies will receive $100 million each, except for startup Diraq, which is slated to get $38 million

4. Multiple other public companies will receive funds including D-Wave Quantum, Rigetti Computing, and Infleqtion

Trump's next big bet is on quantum computing.

[Benjamin Cowen @benjamincowen]

Ethereum is likely heading to its lower logarithmic regression trend line, which roughly aligns with the April 2025 lows.

[TrendSpider @TrendSpider]

Jensen Huang on ServiceNow $NOW:

"I think the market's got it wrong."

[Barchart @Barchart]

BREAKING 🚨: Ethereum

Harvard dumps entire $ETH position worth $87 Million 🤯👀

[Barchart @Barchart]

Lululemon $LULU falls to its lowest price since 2018 📉📉 This was one of Michael Burry's favorite stocks 🤯😂

[The Kobeissi Letter @KobeissiLetter]

It's official:

Nvidia, $NVDA, has surpassed silver as the second largest asset in the world, worth $5.52 trillion.

Google is less than 4% away from becoming the second company in history to hit $5 trillion in market cap.

We are witnessing a historic technological revolution.

[Elliott Wave International @elliottwaveintl]

The rally is narrowing.

While the S&P 500 continues to advance, the cumulative advance-decline line peaked on April 20 and has been trending lower — signaling weakening participation during the current wave.

Friday’s data reinforced the divergence, with more decliners than advancers.

Internals matter. And right now, they warrant attention.

See 18 charts from our latest research that are flashing warning signs. https://t.co/EU4XKiK0lB

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Google and SpaceX are in talks to launch data centers into orbit amid surging AI demand, per WSJ.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Copper prices have surged to a record $6.58 per pound, now up +75% since October 2023 and over +40% in 12 months.

The surge comes amid tight supply, declining inventories in China, and surging demand for data center construction.

Furthermore, supply disruptions at the world's 2nd-largest copper mine in Indonesia are adding to the pressure.

Meanwhile, China's exports jumped +14% YoY in April, led by booming clean-tech shipments, components that are materially copper-intensive, tightening the market even further.

The global economy is scrambling for copper.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Iranian state media says Iran has sent its latest proposal for the US to Pakistani mediators.

US oil prices are falling on the news.

[Max @minordissent]

This question misunderstand the situation. SP500 is basically just M2. maybe 2%, max 3%, of real growth. The rest is just the devaluation of dollars. There is no “exit liquidity”, the price of everything just goes up in perpetuity as more dollars added to the system chase the same amount of goods and services.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Meta stock, $META, extends losses to over -10% on the day and is now on track for its biggest daily decline since October 2025.

Meta has erased -$170 billion in market cap today.

[Peter Schiff @PeterSchiff]

Forty six months ago today, the Government of Puerto Rico shut down Euro Pacific Bank. Not because the bank deserved to be shut down, not because it facilitated tax evasion or money laundering, and not because it was insolvent. None of those things were true.

The newly produced IRS and OCIF emails show the bank was shut down as part of an improper quid pro quo with the IRS: the U.S. Treasury Dept. would be able to use the shutdown to convince foreign banking regulators that Puerto Rico was not a high-risk tax haven.

The IRS needed the bank shut down because its high-profile Atlantis investigation — the subject of a 60 Minutes broadcast an Australian federal court later ruled defamatory and a New York Times article — came up empty. Since the two-year criminal investigation found no evidence of wrongdoing by the bank or anyone running it, the IRS needed OCIF’s help to save face.

The public was told that OCIF acted independently. But the OCIF Commissioner’s own email confirms that the action against the bank was done in collaboration with IRS-CI. Other emails show that collaboration began six months earlier, that the outcome was negotiated between the IRS and OCIF, and that the arrangement had the support of Puerto Rico’s Governor, Secretary of State, and Secretary of the Treasury.

The IRS and its J5 partners then launched a worldwide publicity campaign claiming the bank was shut down for facilitating tax evasion and money laundering — the very crimes their own investigation found no evidence were actually committed.

This is not speculation. It is shown by admissions in IRS and OCIF emails obtained through a FOIA lawsuit I filed as the bank’s sole shareholder, a month after the Federal Court in Puerto Rico dismissed my civil rights lawsuit against the IRS and OCIF — a lawsuit that alleged the very conspiracy these emails now confirm.

[Barchart @Barchart]

Nvidia $NVDA is now worth more than India's Total Stock Market 🚨🚨🚨

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Brent crude oil prices officially surge to their highest level of the Iran War, at $119.50/barrel.

This puts Brent crude oil prices at their highest level since 2022.

The IEA has called this the “biggest energy security threat in history.“

[Good Work @goodworkmb]

Palantir office speedrun