- After a severe selloff, WGMI has retraced to the neckline of the multi-year accumulation structure it broke out from in 2025; five holdings comprise roughly 40% of the fund.
- Power-access companies are converting capacity into long-duration compute contracts, but capital intensity, financing risk, execution challenges, and higher yields are driving the repricing.
- The author sees attractive asymmetry approaching: $30 needs to become support, while failure could expose ~$24 at the 0.887 Fibonacci level without necessarily invalidating the longer-term thesis.
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72 80 - CIFR has retraced to its 0.887 Fibonacci level near historical demand and its long-term trendline, creating a clearer technical risk/reward setup than IREN.
- IREN’s comparable 0.887 level is around $19.40, roughly 30% below current levels; its prior $69 extension test leaves more structure to revisit.
- Both lost their 21-month EMAs. A month-end reclaim of $13 for CIFR or $34 for IREN is needed to improve the trend picture; further weakness remains possible.
- Contractual commitments and emerging 12–18-month earnings potential make long-term asymmetry increasingly compelling, but the author emphasizes disciplined accumulation, position sizing, and patience.
72 - NBIS’s anticipated correction is unfolding: after a 10x rise since 2022 and resistance at $229–$260, shares are $188; the author expects a better 6–12-month entry, potentially near $150 or lower.
- Momentum is deteriorating, and the prior consolidation/breakout zone remains untested; price still sits above the 12- and 21-month EMAs, but the author expects those levels to be challenged.
- Long term, the author sees an integrated AI cloud spanning power, data centers, GPU clusters, networking, storage, and software—not merely leasing capacity.
- Microsoft and Meta commitments plus Nebius’s own training and inference cloud support the opportunity; the thesis is that scalable compute with attractive economics will earn greater market differentiation.
71 - CIFR is in the author’s $10–$12 accumulation zone: a potential flat correction, 0.887 Fibonacci near $10, prior consolidation, and near-oversold momentum support a reversal—but do not guarantee a bottom.
- The valuation hook is 700 MW of contracted HPC capacity across three campuses and ~$16.6B of aggregate contracted revenue against a ~$5B valuation.
- Black Pearl is generating lease revenue, Barber Lake nears rent commencement, and its 20-year lease extension lifted expected revenue from $3.8B to over $9B.
- The proposed $850M zero-coupon convert may dilute shareholders but is intended to fund expansion backed by contracts rather than speculative capacity; the author accepts this trade-off.
79 - RKLB’s 42x gain in two years may have pulled valuation ahead of fundamentals; the author expects space infrastructure to grow but warns equities can correct while operations execute.
- Price broke below its 2025–26 ascending channel and is testing the 21-month EMA at $61; a monthly close below it, especially followed by a failed reclaim, would weaken the uptrend.
- The author watches $35–45—1.272–1.414 Fibonacci extensions and an untested breakout zone—as a better long-term entry, while allowing for 9–12 months of sideways or downward action.
61 - WGMI is retesting the weekly Ichimoku cloud and 100-week EMA, which supported eventual lows in three of four major sector fear periods since 2022; April 2025 broke below first.
- WGMI remains in a year-long consolidation above a multi-year accumulation neckline near $30; a sustained hold keeps the broader breakout thesis intact, with the 100-week EMA around $39.40.
- Underlying demand is supported by IREN scaling contracted AI cloud into revenue and CIFR securing long-duration HPC leases; NUAI still needs tenant agreements and financeable projects, underscoring execution risk.
- The author cannot distinguish a durable low from another April-2025-style corrective leg, but sees risk/reward improving enough to begin considering accumulation rather than waiting for a perfect bottom.
61 - WGMI built a 2022–2025 base, broke out in October 2025, and reached the 1.414 Fibonacci extension near $70; consolidation remains above that breakout zone.
- The correction’s form is unresolved: a running flat could be ending, or an expanded flat could first sweep the March lows. The author sees another 10–20% drawdown as the worst case.
- Until the base breaks, the larger structure remains bullish; a higher resolution would target the 1.618 extension near $106. WGMI is the author’s barometer for related stocks.