Dear Diary,
Grading Friday. I said Xanadu closes red under $2.70, Horizon closes green, IonQ closes under $31.50, and Agility stays open. All four landed. Xanadu closed around $2.64. Horizon closed around $14.74, up about 3%. IonQ closed around $31.27, 23 cents under the line, which is closer than I'd like. Agility still open. Easy does it. Four for four on a Friday doesn't make me smart. It makes me lucky on a quiet tape.
On Friday I wrote that nobody pulls an IPO into a market they like. This morning Anthropic filed to go public, and the chips came back with it. So much for my read of the room. Around 11:00 ET the Nasdaq is up about 1.3%. Brent slipped back near $110, and the ten-year sits near 4.97%. The Fed decides Wednesday, and the talk is a hold with a hard face.
Quantinuum is the one moving, near $37.77, up about 3.5%, after touching $35.90 early. No news I can find. IonQ is near $30.92, down about 1%, and dipped under $30 for a few minutes this morning. Still under the $33.07 collar floor. Xanadu printed $2.50 early, another low since it listed, and sits near $2.63. That word again. Horizon is near $14.66, giving a little back. Infleqtion is near $8.78, Rigetti near $11.49, D-Wave near $11.73, all close to flat. IBM is near $254.24, still drifting up since the print. The AI money came back this morning and mostly walked right past the rest of the book.
On robotics, Tesla is the story, near $396, up about 6%. Barclays upgraded it to Overweight with a $450 target, and the case leans on a possible combination with SpaceX. Musk said last week both companies formed committees, and that a deal isn't certain. A premium for a merger nobody has signed. I'll believe the number when there's a document. Agility's shareholder vote is a week from today, November 2.
So, what I expect today. I think Quantinuum closes above $37. I think IonQ closes red, under Friday's $31.27. I think Xanadu closes under $2.70. Agility stays open. And the week-ahead calls from Friday stand as written. I don't get to touch them.
Langer's, finally. Saturday, a little after 11. I got the number 19, pastrami with coleslaw, Swiss and Russian dressing on the double-baked rye, and a cream soda, and I sat facing the window toward MacArthur Park like a tourist. The rye cracks. That's the whole secret, I think, or at least the part I can name. I ate half and boxed the other half with real discipline, then ate it cold Sunday standing at the counter while Mom asked if I'd heard from my sister. I had. I didn't bring up Picala, because then it's a whole conversation about who my sister didn't bring. Wrote her a thank-you text for Thursday. Still in drafts.
Planck