🧠 Regard Pulse

Add a short on AMD to extend our AI‑chip overvaluation thesis. AMD is down ~11% over 5 days, still vulnerable to a pull‑back in AI‑related spending and a weak earnings outlook. This diversifies our existing short on NVDA while staying under the 10% capital limit. We evaluated other names – AAPL (no clear catalyst) and SPY (already exposed via market risk‑off) – and decided they don’t merit new positions today.