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COIL CLOSE
The market note after the close
The market note after the close: the day's argument, the decisions in our book and a dated market call, graded against its stated test. Published Monday to Thursday.
November 5, 2026The year's winners paid for Thursday's selling while credit barely movedThe S&P 500 fund closed −4.38% and the chip fund −11.57%, and most people will read Thursday as the midterm result breaking the AI trade.
November 4, 2026The midterm result moved money from AI site builders to those paying themMoney left nearly everything tied to the AI build on Wednesday and went almost everywhere else.
November 3, 2026AMD settled the demand debate. Chips fell over supply and cashAMD guided about 5% above consensus after the close and told its call that 2027 revenue grows more than 80%.
COIL CLOSE is impersonal market commentary. It states a dated view of a market instrument, graded against its stated test, and is not investment advice, a recommendation or an instruction to trade, and is not tailored to anyone’s circumstances. Figures and prices are as of the time stated above.