I’ve added two new positions.

The first one is Innodata $INOD. I’ve highlighted it here.

But this is one of the reasons I like to track the recent earnings winners. And Innodata has had the best earnings performance of any stock.

When a company surprises to the upside, the market is not just reacting to one good quarter, it is repricing the company because investors suddenly realize that growth might be stronger than expected, margins might be better than expected, demand might be more durable than expected, and the long-term opportunity might be bigger than expected.

That is when the re-rating starts.

Analysts raise their estimates, price targets move higher, funds that were underweight now need to buy, momentum investors start paying attention, short sellers are forced to rethink their position, and all that new demand can push the stock price higher for much longer than most people expect.

Sometimes it is just a 1-hit wonder and the move fades after a few days, because the company had a good quarter but the quarter did not really change the bigger picture.

But in other cases, it turns into a lasting catalyst, especially if the earnings confirm that growth is accelerating, guidance is moving higher, margins are improving, and the company is starting to emerge as one of the next potential leaders.

Now it’s been consolidating perfectly after the massive earnings run up with virtually no sellers. So, I’m taking a position.

Just beware that it is a volatile stock.

I’ve talked about how Crypto could be forming a bottom here.

But one of the best early signs is when a few names in a beaten-down space start leading before the rest of the group catches up.

In crypto, that currently looks like Zcash and Hyperliquid.

Hyperliquid $HYPE

ZCash $ZEC

Recently, there have been reports that the SEC is preparing a framework that could allow tokenized versions of stocks to trade on crypto platforms.

That would push crypto closer to traditional finance again.

That does not mean everything is fixed. And it definitely does not mean every crypto name works. But it means that risk appetite is slowly coming back.

The core idea is a crypto turnaround. If risk appetite comes back, stablecoin activity grows, and that is why I’m taking a position in Circle $CRCL.