Luca Meier @LucaMeier: "📊 Daily Portfolio Update Tuesday, May..."

Switzerland

📊 Daily Portfolio Update Tuesday, May 19, 2026 🌎 MACRO A significant development in the Iran war took place overnight: Trump paused a planned U.S. attack on Iran after new diplomatic signals from Tehran. European markets rallied sharply on the news, with the $EUSTX50 advancing as investors welcomed the de-escalation. Gold, however, fell more than 2% as the pause in hostilities reduced the safe-haven bid, while a firmer dollar and persistent inflation fears added further pressure on the non-yielding metal. [1][2] The broader macro backdrop remains challenging. U.S. Treasury yields stayed elevated and the $USDOLLAR strengthened, both weighing on gold and gold-linked assets. Inflation concerns have not abated despite the ceasefire pause — the market is still pricing in an extended period of Fed inaction on rates, which structurally pressures gold when real yields are rising. [1] Meanwhile, in tech, cybersecurity stocks continued their powerful comeback, extending a multi-week rally driven by strong earnings and renewed institutional conviction that AI makes cyber threats more dangerous — not less. $CRWD (Crowdstrike Holdings) hit a 52-week high today at $634, with Barclays raising its price target to $650 and framing the stock's AI opportunity as a long-term structural driver ahead of earnings in early June. [3] 📈 PORTFOLIO $GOLD miners bore the brunt of the Iran de-escalation trade. JNUG dropped 9.1% and NUGT fell 8.0%, while AngloGold Ashanti lost 5.1%, Eldorado Gold 4.6%, Alamos Gold 4.6%, and Newmont 4.1%. This is the mirror image of the May 6 rally — when peace deal optimism first surfaced, miners surged; today, a pause in military action directly deflated the war premium embedded in gold. The positions remain in substantial long-term profit given the entry levels from before the war began. $JKS (JinkoSolar Holding Co Ltd-ADR) fell 5.3% today. Last week, the company signed a 2 GW module supply deal with UAE renewables developer Masdar for Abu Dhabi's gigascale project — a genuine positive catalyst. But today's move appears driven by the broader sector sentiment as energy war dynamics shifted. 📋 TRADES A new short position was opened on CrowdStrike at $632 with 5x leverage. The rationale is a mean-reversion bet against a stock that today printed its 52-week high and is, by most technical measures, severely overbought. Barclays raised its price target to $650 this morning, Josh Brown and other prominent commentators are publicly bullish, and the stock is up dramatically off its February low at $342. When consensus is this one-sided and the stock is at a fresh high with earnings still weeks away, the risk/reward for a leveraged counter-trend short improves significantly. The position is a tactical trade, not a view on CrowdStrike's long-term business quality. [3] In fact, when it comes to cybersecurity and software solutions, I view AI more as an opportunity than a risk, and I plan to invest in this heavily battered sector if a market rebound allows for a more favorable entry point, and to reallocate our portfolio somewhat toward these two sectors. SOURCES: [1] www.reuters.com/world/india/gold-steady-weaker-dollar-after-trump-pauses-planned-iran-attack-2026-05-19/ [2] www.reuters.com/business/european-shares-rise-trumps-iran-comments-2026-05-19/ [3] www.cnbc.com/2026/05/19/biggest-tuesday-stocks-by-analyst-calls-include-nvidia-tesla-micron.html [4] seekingalpha.com/news/4591258-jinkosolar-masdar-sign-2-gw-module-purchase-deal-for-abu-dhabis-gigascale-rtc-project

Not investment advice. The author may have financial interests in the mentioned instruments.