February 5, 2026

Markets:

S&P 500 futures fell for another day on Thursday, with popular trades unraveling as investors took a risk-off stance.

Alphabet was the latest of the so-called “Magnificent Seven” companies to report earnings results. The company projected a sharp increase in artificial intelligence spending that spooked some investors, calling for 2026 capital expenditures of up to $185 billion. Shares were last down 4% in premarket trading.

Alongside Alphabet, Qualcomm came under pressure, sliding 11% in early trading after posting a weaker-than-expected forecast because of a global memory shortage.

Elsewhere, the sell-off in the cryptocurrency market continued to gain steam, as bitcoin fell below $70,000 — which is considered a key support level. In the precious metals space, pressure on silver resumed, with the metal’s prices snapping a two-day rebound and dropping as much as 16%. It had plummeted nearly 30% last Friday.

It’s the first time bitcoin has fallen below $70,000 since November 2024. Bitcoin was last trading at around $69,332 at 7:31 a.m. ET, according to CoinMetrics data.

Some market watchers have suggested $70,000 is a key level to watch and a break below that could trigger more falls for bitcoin.

Portfolio:

We enter today’s session holding just one position in ONDS.  

Market has been wild the last few weeks. 

We see compelling opportunities on the short side and will always lean into fear and volatility when the setup is there. So much money can be made playing the down turn and then catching the side back up.  If you take a look at down turns in the market we have absolutely blown the doors off with returns.

 Personally, I do not like whats happing in crypto land and that is a concern.  But this AI/tech revolution is far from over.  We just need to clear the weak hands out before the next move.  This volatility will be so glorious to trade.  Be ready.   We are close to going into attack mode here.