It was supposed to collapse, so it ramped. Investors clamored to buy cheap and “undervalued” high growth semiconductor names ahead of the weekend, in order to best position for the Monday cash open. Whilst there might’ve been trepidation early going with FDX missing and dropping the most since the CRASH of 1987, by late afternoon it was nothing more than a distant and unimportant memory, as traders put cash to work in some of America’s finest growth names available.
Bears got STEAMED into the close, pressed nicely, and now have to wonder about buy programs at 4am on Sunday.
Look at it. Aren’t you all jelly for not being long SOXL into the bell? Shares of INTC and NVDA are back in vogue and as sure as I’m sitting here there will be a FIERCE crypto rally this weekend, setting up for a wonderful lift off on Monday.
As for me, truly a week designed in hell and then delivered straight into my brain. I shed 5% and consider myself to be HALF retarded, HALF human. I will let you know when my advice is worth your time.
I closed with SQQQ, CRK, ENPH, and FANG — again half retarded, half human.
Ciao.
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HUGE volume spike across the equity markets Friday. What could this portend … ?
Wasn’t it triple witching or some other ungodly phenomena?
firewood
https://twitter.com/DoombergT/status/1571063488860286977?cxt=HHwWgsDT0er6xM0rAAAA