Tech stocks are being punished today, on the eve of hot dog and bottle rocket day.
The rotation has never been more abundantly clear with the Dow up 180 and the Nasdaq lower. Anyone positioned in NVDA today is hating life, while the Goldman and the Citi stock holders toast to America’s prosperity.
Also, commodity stocks are ripping higher, sans gold, thanks to both a bounce in crude and rotation into an underowned sector.
This is the part where weak hands become lost, dispirited, and give up under an avalanche of losses.
I’m unsure how long this rotation will last. It seems more opportunistic than rational, considering commodities are beset with horrible fundamentals. Also, small capped stocks are outperforming large cap in every day, for two weeks straight. This tells me, large hedge fund and asset managers have been both selling and losing money.
The positive spin is that banks are a great sector for the market to follow higher and tech is merely taking a breather.
Happy 4th of July.
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$QQQ; $SOX 6/9 massive distribution day should not be disregarded nor taken lightly. Significant negative divergence. Happy 4th~
got it …………
Anyone positioned in NVDA today is hating life,
wonder how fool one had to be
I’m all in in small cap oil
tits are goona rip soon (“soon” with salt )
like giant alien jump discovery in the sector
Gold is behaving like its party to the rotation. Normally inverse to the $US but lately correlated quite highly. Doesn’t happen often, at least not for stretches of time. Gold is far from being an investment. I am testing it as hedge but the jury is still out.
Damn fly you used to be legendary with the individual stock plays i remember WNR a few years back – now you have delivered TECK and an avoid banks this summer play – i miss the old FLY before you threw in the towel with goold ole fashioned instinct plays