The relief rally showed up, but Tim Knight says it is already spent, one pop on weekend headlines and nothing more, while his mountain of shorts mostly held. His bigger theme is the AI and hyperscaling trade cracking, with semiconductors, memory and storage names getting chopped to pieces, which he likens to the slow 2006 build in The Big Short. His standout call is Apple, the one big tech giant that skipped the heavy AI spending, which he credits as the quiet winner while everyone else leapt in, though he says he would not buy it up here. He is trimming some shorts into a huge week of Mag Seven earnings and the Fed. All views are his. 📊 tastylive: tastylive.com 📰 Get Tom's pre-market analysis every morning: tastylive.com/newsletters 📘 FREE Options Strategy Guide: tinyurl.com/bp9ms763 📱 Follow tastylive on X: x.com/tastyliveshow Chapters 00:00 The relief rally is already spent 00:55 An 18-year bull run at peak valuations 02:16 Still short...