Performance (April 2 - April 10)

NASDAQ-100: +4.45%.

S&P 500: +3.56%.

STOXX Europe 600: +3.05%.

EURO STOXX 50: +4.10%.

OMXS30: +4.86%.

My portfolio: +2,61%

Market pulse

Between the April 2 and April 10 closes, global equities were driven primarily by a shift from acute Middle East and energy-supply panic to a ceasefire-led relief rally. The decisive catalyst was the temporary U.S.-Iran truce announced on April 8, which raised hopes for a reopening of the Strait of Hormuz and triggered a sharp fall in oil prices, easing immediate fears of an inflation shock and more aggressive central-bank tightening. Europe and other energy-importing markets benefited especially from that repricing, while semiconductors and AI-linked technology shares added extra support to U.S. benchmarks. The rebound was real, but not clean: continued disruption to physical energy flows, renewed violence in Lebanon, and a hot U.S. CPI print kept investors cautious and prevented a full normalization of risk appetite by week’s end.

Crowd vs. price

For the first time in a long while the crowds are starting to carefully rotate back to tech stocks.

Holdings & Watchlist Notes

Micron Technology (MU): +14.84%
Micron’s roughly 15% rise between Apr. 2 and Apr. 10 was driven primarily by a rapid easing in geopolitical risk after the U.S.-Iran ceasefire, which pushed oil sharply lower and triggered a broad rotation back into semiconductors and other high-beta growth stocks. That macro relief hit a stock that was already supported by unusually strong fundamentals: Micron had just delivered record results and aggressive guidance, memory pricing remained on a steep upward trajectory amid AI-driven supply constraints, and fresh read-throughs from KeyBanc, Samsung, SK Hynix, Broadcom and TSMC reinforced the view that the AI-memory upcycle remained intact. In practical terms, investors were re-pricing an already bullish Micron story once the war premium started to come out of the market.

• Relative crowd interest: Trend: upwards. Momentum: bullish.

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Performance

• NASDAQ-100: +3.95%

• S&P 500: +3.36%

• STOXX Europe 600: +3.71%

• EURO STOXX 50: +3.40%

• OMXS30: +3.55%

• My portfolio: +4,17%
  

Market pulse

Global equities rebounded over the March 27-April 2 window mainly because investors began to price in a possible off-ramp in the Iran conflict and, with it, a lower probability of a prolonged closure of the Strait of Hormuz. That was enough to ease oil and inflation fears and trigger a relief rally across risk assets, especially in technology, banks, airlines, and other cyclical sectors. The move remained fragile, however, because every renewed threat of escalation immediately pushed crude higher and checked equity gains. Secondary support came from central-bank messaging and macro data that pointed to slower growth but not an outright break: Powell stayed in wait-and-see mode, U.S. labor and manufacturing data were resilient enough, and euro-area data were mixed rather than catastrophic. In practical terms, the market spent the week pricing one master variable above all others: whether the war was moving toward de-escalation or toward a longer, inflationary energy shock

Crowd vs. price

Extreme volatility in crowd movement continues.

Holdings & Watchlist Notes

Intel Corp (INTC): +16.81%
Intel’s 16.8% rally from March 27 to April 2 was driven by a combination of macro relief and a major company-specific catalyst. The first leg came from a broad semiconductor rebound as hopes of de-escalation in the Iran conflict eased fears of a prolonged oil shock and renewed inflation pressure. The bigger and more durable leg came on April 1, when Intel announced it would repurchase Apollo’s 49% stake in the Fab 34 Ireland joint venture for $14.2 billion. Investors took that move as evidence of a stronger balance sheet, better capital discipline, and rising confidence in Intel’s manufacturing strategy, especially because Fab 34 is a key production site for Core Ultra and Xeon processors and because demand for Intel’s data-center CPUs has been improving alongside AI inference workloads. In practice, the market was repricing Intel as a more credible turnaround story with tighter control over strategically important capacity.

• Relative crowd interest: Trend: upwards. Momentum: bullish.

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Volatility in crowd movement continues due to the geopolitical escalation and its ramifications. I continue to survey the movements in the market and adjust my portfolio accordingly. Below you will find my full portfolio as of today 2 April 2026:

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Performance

NASDAQ 100: -3.20%

S&P 500: -2.12%

STOXX Europe 600: +0.35%

EURO STOXX 50: +0.08%

OMXS30: -0.03%

My portfolio: –5,26%

Market pulse

Global equities were driven primarily by the Iran war’s disruption of Gulf energy flows, especially the effective closure of the Strait of Hormuz, which pushed oil sharply higher and reignited inflation fears. Markets quickly translated that shock into a more hawkish interest-rate outlook, lifting bond yields and compressing equity valuations, while conflicting headlines around U.S.-Iran diplomacy produced sharp but short-lived relief rallies. As the week progressed, weaker business surveys, softer consumer sentiment and OECD downgrades showed that the shock was already bleeding into growth, shifting the narrative from geopolitical noise to stagflation risk. The heaviest damage fell on tech-heavy U.S. indices, where renewed weakness in mega-cap tech and AI-linked shares amplified the selloff, while Europe proved relatively more resilient thanks to a less tech-concentrated sector mix and temporary support from banks, miners, travel and energy stocks when oil briefly eased.

Crowd vs. price

The geopolitical situation resulting from the Iran conflict and its ramifications continues to spark an exodus from almost all equities.

Holdings & Watchlist Notes

Exxon Mobil (XOM): +7.09%
ExxonMobil’s rise was driven first by the Iran-war oil shock and the disruption through the Strait of Hormuz, which Reuters said pushed Brent to average about $97 a barrel in March versus $69 in February. On Reuters’ estimate, that price move alone implied roughly $5.1 billion of extra March revenue for Exxon. Second, the market re-rated the earnings outlook for the integrated majors as the crude spike looked large enough to materially lift first-quarter profits. Third, investors rotated into energy as the broader equity market was being hit by higher oil, higher inflation risk and rising yields, making Exxon one of the few large-cap names whose near-term earnings were improving as the macro backdrop worsened.

• Relative crowd interest: Trend: upwards. Momentum: bullish.

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Performance

· NASDAQ-100: -1.98%.

· S&P 500: -1.90%.

· STOXX Europe 600: -3.79%.

· EURO STOXX 50: -3.77%.

· OMXS30 (Sweden): -5.10%.

My portfolio: -4,32

Market pulse

Global equities weakened as an energy-driven geopolitical shock replaced ordinary macro data as the market’s main concern. Escalation in the U.S.-Israeli war with Iran, disruption around the Strait of Hormuz, and attacks on regional energy infrastructure pushed oil materially higher, reviving inflation fears and forcing investors to reprice the path of interest rates after a week of major central-bank meetings. That combination produced a broad risk-off move: bond yields rose, equity funds saw outflows, Europe and Sweden were hit harder as energy and rate-hike fears intensified, and U.S. technology shares underperformed as higher yields weighed on long-duration growth valuations.

Crowd vs. price

The geopolitical situation resulting from the Iran conflict and its ramifications is sparking not just price decline but also an exodus from almost all equities.

Holdings & Watchlist Notes

Advanced Micro Devices (AMD): +4,11%.

AMD outperformed because investors received a dense run of positive AI-execution news despite a weak broader market backdrop. The main catalyst was AMD’s expanded Samsung partnership, which improved visibility on next-generation HBM4 memory supply for its MI455X accelerators and opened the door to possible foundry cooperation, easing concerns about AMD’s ability to deliver AI systems at scale. That was reinforced by progress on AMD’s Helios rack-scale platform and new Korea partnerships with NAVER Cloud and Upstage, which pointed to broader adoption of AMD’s GPUs, CPUs, and ROCm software. Additional support came from the withdrawal of a draft U.S. AI-chip export rule and a broader GTC-week rebound in AI shares, making AMD’s 4.1% weekly gain look more like a re-rating of execution credibility than a pure macro move.

• Relative crowd interest: Trend: upwards. Momentum: neutral.

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Given the geopolitical landscape combined with AI-bubble fears, crowd movements continue to be volatile. I am surveying their movement and adjusting my portfolio accordingly. Below you will find my full portfolio as of today 17 March 2026 at 15:00 CET:

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Performance

• S&P 500: –1,6 %

• Nasdaq 100: –1,06 %

• My portfolio: +4,07 %

Market pulse

U.S. and European equities were driven primarily by an externally generated energy shock rather than by ordinary macro data. The escalation of the U.S.-Israeli war on Iran disrupted flows through the Strait of Hormuz, pushed oil sharply higher, revived inflation fears, and forced markets to reprice central-bank expectations toward fewer Fed cuts and renewed ECB tightening risk. Temporary de-escalation headlines produced a brief relief rally, but that was reversed as tanker attacks and the continued Hormuz disruption pointed to a more persistent supply shock. U.S. equities then faced an added stagflation problem as GDP, real spending, and consumer sentiment weakened while inflation risk stayed elevated, whereas European equities were more sensitive because the region is more energy-import dependent and growth is more fragile. The result was broad pressure on banks, industrials, travel, miners, and other cyclicals, while energy was the main relative outperformer.

Crowd vs. price

Crowds are still rotating out of most tech names and into defense and energy stocks.

Holdings & Watchlist Notes

Micron Technology (MU): +15.08%.

Micron’s gain over the week appears to have been driven mainly by stock-specific AI-memory catalysts overwhelming an otherwise weak market backdrop. The most important trigger was Applied Materials’ March 10 partnership announcement, which validated Micron’s role in next-generation DRAM, HBM and NAND development. That landed in a market already pricing tight memory supply, rising AI-driven capex and another potentially strong Micron earnings print due on March 18, allowing the stock to outperform even as higher oil prices and inflation fears pressured broader equities.

• Relative crowd interest: Trend: upwards. Momentum: neutral.

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Performance

• S&P 500: –2,02 %

• Nasdaq 100: –1,27 %

• My portfolio: -0,12 %

Market pulse

U.S. equities were driven primarily by an energy-and-geopolitics shock. The escalation of the U.S.-Israeli conflict with Iran and the resulting disruption in the Strait of Hormuz pushed oil sharply higher, reigniting inflation fears and reducing confidence that the Federal Reserve would be able to ease policy soon. That pressure intensified after the February jobs report showed a 92,000 decline in payrolls and a rise in unemployment to 4.4%, shifting the market narrative toward stagflation risk: slower growth alongside higher energy costs. Strong ISM data and rising input-price measures had already pushed rate-cut expectations lower, while brief hopes of de-escalation and strong AI-linked earnings only provided temporary relief. The week therefore ended as a broad risk-off move, with cyclicals, banks, airlines, and small caps hit harder than mega-cap tech.

Crowd vs. price

Crowds are rotating out of most tech names and into defense and energy stocks. Also rotating out of US equities in general and more into emerging markets and Europe. That was however before the intensifying of the Iranian conflict, so this could very well change under this upcoming week. I will bee keeping watch closely.

Holdings & Watchlist Notes

CrowdStrike Holdings (CRWD): +15.33%

CrowdStrike’s strength looks mostly company-led, not macro-led. The core driver was the earnings print and forward guide: growth held up, the outlook beat, ARR crossed a major milestone, and the 2024 outage drag was clearly becoming more manageable. The stock also benefited from a reversal of the late-February AI fear trade in cybersecurity. The M&A story helped, but the quarter and guidance were the main reason to own it in that week.

• Relative crowd interest: Trend: upwards. Momentum: neutral.

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The crowds have been rotating out of most of the big tech names at an unprecedented rate since 2020. I have been mapping their movements and have accordingly adjusted my portfolio drastically.
Below you will find my complete portfolio as of 4 March 2026:

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Performance

• S&P 500: +0,4 %

• Nasdaq 100: +0,2 %

• My portfolio: +0,1 %

Market pulse

U.S. equities were driven primarily by a renewed repricing of AI-related risk, culminating in a post-earnings selloff in Nvidia that weighed heavily on semiconductors and other growth stocks. Trade-policy whiplash remained a second major overhang as post–Supreme Court tariff relief gave way to fresh uncertainty over replacement levies, while hotter-than-expected January producer-price data late in the week reinforced a higher-for-longer Federal Reserve backdrop. Additional pressure came from renewed credit concerns in financials after the collapse of UK lender Market Financial Solutions and from geopolitical/oil risk tied to U.S.-Iran tensions, producing a clear late-week risk-off tone and relative outperformance from more defensive sectors.

Crowd vs. price

Market volatility continues to cause volatility in relative investor interest.

Holdings & Watchlist Notes

Netflix (NFLX): +22.3%

Netflix’s sharp rally was driven primarily by a relief reaction to the company’s decision to abandon the Warner Bros Discovery bidding war, which investors interpreted as a clear display of capital discipline. The move was reinforced by worsening Warner asset economics, Paramount’s payment of the $2.8 billion termination fee, Netflix’s announced resumption of share repurchases, and the removal of leverage, integration, and regulatory risks associated with a large-scale studio acquisition. In effect, the market rewarded Netflix for avoiding what had increasingly looked like a potentially value-destructive transaction and for returning focus to its core, organically driven streaming model.

• Relative crowd interest: Trend: upwards. Momentum: bullish.

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Performance

• S&P 500: +1,07 %

• Nasdaq 100: +1,13 %

• My portfolio: +0,9 % (USD) / +2,4 % (SEK)

Market pulse

U.S. equities were driven primarily by a trade-policy shock and a cross‑current of growth/inflation signals: on Feb. 20, the U.S. Supreme Court struck down President Trump’s global tariffs (a 6–3 decision), and Trump immediately announced a temporary 10% global tariff for 150 days, which investors largely read as less severe than feared and as a near‑term reduction in uncertainty for tariff‑exposed sectors. Macro data was mixed the same day–Q4 GDP slowed to 1.4% (vs. 3.0% expected) with the prior government shutdown cited as a major drag, while inflation firmed late in 2025 with core PCE up 0.4% m/m and 3.0% y/y in December, reinforcing the idea the Fed would stay cautious on cuts. Within equities, AI and mega‑cap tech remained the tape’s lever: on Feb. 18, sentiment improved and stocks rose as Nvidia said it had signed a multi‑year deal to sell Meta “millions” of current and future AI chips, helping stabilize the broader AI complex after valuation/disruption jitters. Risk appetite wobbled again on Feb. 19 as private‑equity/alt‑manager stocks sold off after Blue Owl said it would sell $1.4B in assets and freeze redemptions at a fund, while Walmart’s conservative FY2027 outlook and Apple weakness weighed on the index; Deere’s raised profit forecast provided an offset, and energy outperformed as crude rose on heightened U.S.–Iran conflict fears. Underneath it all, rate expectations stayed a key constraint: the Feb. 18 Fed minutes showed policymakers were near‑unanimous about holding rates at 3.50%–3.75%, but split on what comes next (including “several” open to hikes if inflation stays elevated), keeping markets sensitive to each incremental inflation/growth headline.

Crowd vs. price

Market volatility continues to cause volatility in relative investor interest.

Holdings & Watchlist Notes

Amazon.com (AMZN): +5.7%

The move was driven primarily by (1) a tariff-relief rally after the U.S. Supreme Court struck down Trump-era global tariffs, lifting tariff-sensitive consumer stocks including Amazon, and (2) a renewed bid for mega-cap AI-linked technology shares, which supported Amazon alongside other large platform names. The strength also reflected a rebound from the earlier-February drawdown tied to investor concerns about Amazon’s elevated 2026 AI-related capex plans, with lighter holiday-week volume likely magnifying the upside.

• Relative crowd interest: Trend: downwards. Momentum: bullish.

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The markets volatility continues and many investors seem to be moving money from individual stocks to ETF:s that are tracking the broader market. I have also adjusted my portfolio accordingly.

Below you will find my full portfolio as of today 20 February 2026

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Performance

• S&P 500: –1,39 %

• Nasdaq 100: –1,37 %

• My portfolio: –4,65 % (USD) / –5,76 % (SEK)

Market pulse

U.S. equities retreated over the week with the main driver being a renewed “AI disruption” risk-off wave – initially centered in software but spreading into other industries perceived as vulnerable to automation – which culminated in a sharp tech-led selloff on Thursday. Macro signals pulled in opposite directions: January jobs data came in stronger than expected, while Friday’s CPI print was cooler than forecast, pushing Treasury yields lower and helping stabilize markets into the close. Earnings added to dispersion, with clear AI infrastructure beneficiaries (e.g., semiconductor equipment) outperforming while “AI-loser” or margin-sensitive tech names were punished.

Crowd vs. price

Market volatility has been causing volatility in relative investor interest.

Holdings & Watchlist Notes

Taiwan Semiconductor Mfg Co (TSM): +5.02%

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The markets are being very volatile and this time around relative investor interest is being as volatile as the price movement which is very unusual. Based on that I have made major adjustments to my portfolio. I expect to keep adjusting as long as the volatility in relative investor interest continues.

Below you will find my full portfolio as of today 12 February 2026.

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Today’s transactions:

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Today’s transactions:

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Performance

• S&P 500: –0,1 %

• Nasdaq 100: –1,87 %

• My portfolio: –6,93 % (USD) / –5,84 % (SEK)

Market pulse
U.S. equities finished mixed–the S&P 500 was essentially flat (−0.1%) while the tech-heavy Nasdaq fell (−1.9%) and the Dow gained (+2.5–but the week was defined by a sharp shift in leadership. Selling pressure centered on mega-cap tech and software as investors reassessed the “AI trade,” balancing evidence of strong demand against worries that AI could intensify competition for software firms and that hyperscalers’ accelerating AI capital spending (highlighted by Alphabet and Amazon) may pressure near-term returns, before semiconductors rebounded strongly into Friday’s rally. Macro and policy headlines added to volatility, including the Fed’s decision to keep rates at 3.50%–3.75% and continued uncertainty around the Fed’s leadership transition, while softer labor indicators (JOLTS/jobless claims) pushed Treasury yields lower and supported rotation into industrials, energy, and staples.

Crowd vs. price
Relative investor interest in most of the names on my list increased despite the volatility and price decline.

Holdings & Watchlist Notes

Intel (INTC) : +8,87%

The gain was driven by a combination of AI-infrastructure tailwinds and Intel-specific supply/pricing signals. The key catalyst late in the week was fresh evidence that the AI buildout is straining server CPUs as well as GPUs: Reuters reported Intel warning Chinese customers of up to six-month lead times and server product price increases generally above 10%, reinforcing expectations for stronger pricing in Intel’s data-center CPU lineup. The move was amplified by a sharp semiconductor-sector rebound as investors refocused on chip beneficiaries of hyperscaler AI spending, and it was supported by renewed strategic messaging after Intel’s CEO said the company plans to build data-center GPUs and highlighted momentum around its foundry roadmap.

• Relative crowd interest: Trend: upwards. Momentum: bullish.

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Due to the recent big movements in the market, relative investor interest has been volatile and I have made quite a few adjustments in my portfolio accordingly.
Below you will find how my portfolio is distributed as of today 6 Feb 2026.

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I made the following adjustments to my portfolio:

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Performance

• S&P 500: 0,34 %

• Nasdaq 100: –0,21 %

• My portfolio: –4,41 % (USD) / –4,73 % (SEK)

Market pulse

Markets were dominated by mega-cap tech earnings dispersion and renewed scrutiny of AI-related capex, highlighted by a sharp software-led pullback after Microsoft’s results even as Meta jumped on upbeat guidance. The Fed’s midweek decision to hold rates at 3.50%–3.75% kept the rate-cut timetable data-dependent, and sentiment turned more cautious into Friday after a hotter producer-price print and President Trump’s nomination of Kevin Warsh as the next Fed chair–events that boosted the dollar and coincided with a sharp reversal in gold and silver.

Crowd vs. price

The risk off sentiment has had a varying reaction relative investor interest in the names on my list, with many of the top names experiencing a decline in relative interest.

Holdings & Watchlist Notes

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