yes

uh and so it it just means that you know hedge funds are running a lot of risk and you know institutions are running a lot of risk And then if you look at the nets for semis, they're very high.

If you look at the inflow figures into the popular semiconductor ETFs, some of the levered ETFs, they're very high.

I think a couple of them had record inflows last week.

And so, you know, positioning is quite elevated at this time when, you know, you've got a ton of issuance and some parts of the economic kind of thesis cracking.

And so that's weight on equities a little bit.

But what I also think is weight on equities is um the lack of any meaningful positive catalysts in the near term um and so you know you had the the the signing of the you know memorandum of understanding you know oils got back to iran yeah and the oil's gotten back to pre-war levels hey and so there isn't much in the way of like a headline that could come out that's going to send you know nasdaq three percent higher anymore so It feels like a tape that lacks a positive catalyst.

you know you have really high expectations tightening potentially