Artificial intelligence is increasingly being used in hiring, performance management, and workplace decision making. In this episode of California Employment News, Weintraub Tobin Shareholder Meagan D. Bainbridge and Senior Attorney Jackie Simonovich discuss practical steps employers should take when implementing AI and how to conduct meaningful bias audits.

In this episode they cover:

• How to create internal AI policies that address approved tools, data privacy, and reporting concerns
• Steps employers can take to safeguard employee data and protect privileged information
• What an AI bias audit is and why it matters for compliance
• How to evaluate AI tools for discriminatory impact and document findings defensively

Listen for a clear breakdown of what California employers need to know to reduce risk while using AI in the workplace.

CONTRACTION: 14 → 12 STOCKS

Tuesday, March 17, 2026 – HOLD & WATCH

MORNING MARKET COMMENTARY

CONTRACTION: 14 → 12 STOCKS

Tuesday, March 17, 2026 – HOLD & WATCH

Timothy McCandless – Protected Wheel Strategy

MIXED SIGNALS: 12 stocks (from 14 = 14% contraction, NOT 18+ expansion), 75% GREEN (9/12). MEGA-CAPS: MU $503B DROPPED (your Mon 15% collar), WDC $96B dropped, NBIS $32B dropped. Only SNDK $105B held (+1.23%). BUT sectors POSITIVE: SPY +0.5%, QQQ +0.8%, XLK +0.9%, SOXL +2.55% (semis strong). VIX 21.8 (flat from 21.5). CONFLICT: Universe contracted (bad) BUT sectors positive (good). Mon collars: HOLD positions, watch Wed for 15+ expansion. If Wed contracts further, EXIT. If Wed expands 15+, ADD.

SECTION 1: MIXED SIGNALS – UNIVERSE vs SECTORS

14 → 12 STOCKS (CONTRACTION) BUT SECTORS POSITIVE

Mon → Tue Analysis:

• Mon Mar 16: 14 stocks, 86% GREEN, test 25-33%
•   • Plan: ‘If Tue 18+, scale to 50-75%’
•   • QQQ +0.9%, XLK +1.2% (strong)
•   • 4 mega-caps ($736B)
• Tue Mar 17: 12 stocks, 75% GREEN
•   • BAD: 14 → 12 contraction (needed 18+ expansion)
•   • BAD: 3 mega-caps dropped ($631B fled)
•   • GOOD: SPY +0.5%, QQQ +0.8%, XLK +0.9% (positive)
•   • GOOD: SOXL +2.55% (semiconductors strong)

THE CONFLICT: MICRO (your scan) says WEAK: 14 → 12 contraction, mega-caps fleeing. MACRO (sectors) says STRONG: QQQ +0.8%, XLK +0.9%, SOXL +2.55%. This is NOT like Thu Mar 12 (when BOTH micro + macro collapsed). Current: MICRO weak BUT MACRO strong = MIXED. Decision: HOLD Mon positions (only 25-33% deployed), watch Wed closely. If Wed expands 15+, ADD. If Wed contracts <12, EXIT.

SECTION 2: MEGA-CAP EXODUS vs SECTOR STRENGTH

Mega-Cap Change:

MONDAY (4 mega-caps, $736B total):

• MU +4.82% ($503B) – Your Priority 1, 15% collar
• SNDK +7.26% ($105B) – Your 10% collar
• WDC +3.66% ($96B)
• NBIS +13.32% ($32B) – Monday’s LEADER

TUESDAY (Only 1 left, $105B):

• SNDK +1.23% ($105B) – Held BUT weak (vs Mon +7.26%)
• MU DROPPED ($503B gone, your 15% collar can’t exit)
• WDC DROPPED ($96B gone)
• NBIS DROPPED ($32B gone)

BUT Tech Sector ETFs STRONG:

• SOXL (Semiconductors 3X) +2.55%
• Implied XLK: +0.9%
• Implied QQQ: +0.8%

INTERPRETATION: Mega-caps (MU, WDC, NBIS) dropped from YOUR scan BUT tech sector still strong (+0.9%). This means: (1) Other tech stocks (not in your scan) are rising, OR (2) Mega-caps dropped from scan criteria but still trading well. Your scan universe contracted BUT broader market didn’t collapse. This is DIFFERENT from Thu Mar 12 (when sectors also collapsed). Current: Selective rotation within strength, not broad collapse.

SECTION 3: THE 12 STOCKS – 9 GREEN, 3 RED

GREEN (9 stocks, 75%)

MATERIALS (strongest in scan):

• OLN +4.80% $25.44 – Chemicals (best performer)
• CENX +3.55% $57.62 – Aluminum
• AA +1.10% $67.33 – Aluminum

TECHNOLOGY:

• VSAT +3.70% $49.29 – Communication Equipment
• DOCN +1.37% $73.00 – Software Infrastructure
• SNDK +1.23% $712.26 ($105B) – YOUR Mon 10% collar, weak vs +7.26%

ENERGY & HEALTHCARE:

• MRNA +3.21% $55.02 – Biotech (NEW)
• PARR +2.86% $54.64 – Energy
• CNTA -0.46% $28.16 – Biotech (NEW, barely green)

RED (3 stocks, 25%)

• LASR -1.96% $67.16 – YOUR Mon 8% collar, semiconductors
• AXTI -1.90% $47.47 – Semiconductor Equipment
• CIEN -0.18% $363.23 – YOUR Mon 10% collar, flat

SECTION 4: COMPLETE SECTOR ROTATION

BROAD MARKET POSITIVE – 2ND DAY RALLY

Broad Market (inferred from ETFs)

• SPY: ~+0.5% (SPDN bear -0.51% = market up)
• QQQ: ~+0.8% (2nd day positive, Mon +0.9%)
• VIX: ~21.8 (flat from Mon 21.5, still >20)
• 10-Year: ~4.10%

Key Sectors (from Direxion ETFs)

• XLK (Technology) ~+0.9% (2nd day strong)
•   • SOXL (Semiconductors 3X) +2.55% = underlying ~+0.85%
•   • YOUR Scan: VSAT +3.70%, DOCN +1.37%, SNDK +1.23%
•   • BUT: LASR -1.96%, AXTI -1.90%, CIEN -0.18% weak
• XLY (Consumer) ~+1.2%
•   • RETL (Retail 3X) +3.53% = underlying ~+1.18%
• XLI (Industrials) ~+0.6%
•   • NAIL (Homebuilders 3X) +1.92%, DUSL (Industrials 3X) +0.40%
• XLB (Materials) ~+0.4%
•   • YOUR Scan: OLN +4.80%, CENX +3.55%, AA +1.10% confirm
• XLE (Energy) ~+1.0% (ERY bear -2.93% = energy strong)

SECTOR CONFIRMATION: ALL major sectors positive (XLK +0.9%, XLY +1.2%, XLE +1.0%, XLI +0.6%). Mon: QQQ +0.9%, XLK +1.2%. Tue: QQQ +0.8%, XLK +0.9% = 2nd day positive, similar strength. This is NOT like Thu Mar 12 (when sectors all reversed negative). Current: Broad rally CONTINUING despite your scan contracting. MACRO strong even though MICRO weak.

SECTION 5: DECISION – HOLD & WATCH

HOLD MONDAY COLLARS – WATCH WEDNESDAY

Conflicting Signals:

NEGATIVE (MICRO):

• Contraction: 14 → 12 stocks (needed 18+ expansion)
• Mega-Caps: Lost 3 of 4 ($631B fled from scan)
• Test Failed: Mon said ‘if Tue 18+’ → Got 12

POSITIVE (MACRO):

• Sectors: QQQ +0.8%, XLK +0.9%, ALL positive
• 2nd Day: Mon +0.9%, Tue +0.8% = sustained
• Breadth: Tech, Consumer, Industrials, Energy all positive
• VIX: 21.8 stable (not spiking)

DECISION FRAMEWORK: Thu Mar 12 exit was clear: BOTH micro (20→11 stocks) AND macro (sectors negative) collapsed. Current Tue: MICRO weak (14→12) BUT MACRO strong (sectors +0.8%+). This is MIXED not CLEAR. Your methodology: Clear signals only. Current: NOT clear exit (macro strong) BUT NOT clear add (micro weak). Solution: HOLD Mon positions (only 25-33% deployed), watch Wed. If Wed expands 15+, ADD. If Wed <12, EXIT. Collars protecting either way.

Wednesday Decision Tree:

• IF Wed 15-20+ stocks + 75%+ GREEN:
•   → ADD positions, scale to 50-75% total
• IF Wed stays 12-14 stocks:
•   → HOLD current 25-33%, no changes
• IF Wed <12 stocks OR sectors turn negative:
•   → EXIT all positions immediately

SECTION 6: YOUR MONDAY COLLARS – HOLD

Current Positions (hold all):

• MU 15% collar – DROPPED from scan (can’t trade, collar protecting)
• SNDK 10% collar – Still in scan +1.23% (weak but hold)
• CIEN 10% collar – Still in scan -0.18% (flat, collar protecting)
• LASR 8% collar – Still in scan -1.96% (red, collar protecting)
• Total: ~43% (within 25-33% range, conservative sizing protecting)

SECTION 7: BOTTOM LINE

HOLD: 12 stocks (contracted from 14) BUT sectors positive (QQQ +0.8%, XLK +0.9%, all positive). MICRO weak, MACRO strong = MIXED signals. Mon collars: HOLD all (25-33% deployed). Watch Wed: If 15+, ADD. If <12, EXIT. Not clear like Thu Mar 12 (when both collapsed). Patient. 11 for 11.

Tuesday, March 17, 2026 – Mixed Signals

Universe weak. Sectors strong. Hold and watch.