Breadth mixed (but sector divergences are wild), trading inconsistent and swinging wildly intraday:
* Despite the evisceration of tech yesterday, there are few tech stocks higher on the day — Google ($GOOGL) (DJIA inclusion), Amazon ($AMZN), Apple ($AAPL)
League leading hitter, Nvidia ($NVDA), has cracked to the downside some fractal support
* Hard reversal lower in financial stocks
* Carnage in the oil patch ($OIH -$13) with oil -$2.65
* Consumer staples are the world’s fair ($KO, $PEP, $PG and $KMB)
* Private equity shares are breaking down (after more redemptions and gates)
* Bitcoin breaks $60k to the downside (remember this was one of the possible catalysts I mentioned to a disrupted market filled with leveraged players)
* Speculative faves $PLTR (don’t investors ever learn?) and $HOOD are breaking down
Doug Kass is a world-renowned hedge fund manager with decades of experience and success navigating through some of the most turbulent periods in market history. He is known for his time-tested analytical skills and ability to look past the current noise and herd mentality.
On TheStreet Pro, Kass provides frequent market commentary and investing ideas for active investors throughout each trading day in Doug’s Daily Diary. He also serves as president of Seabreeze Partners Management Inc. Previously, he served as a senior manager at Omega Advisors, a $6 billion investment partnership. He co-authored a book with Ralph Nader and the Center for the Study of Responsive Law called “Citibank: The Ralph Nader Report” and can be found as a guest host on CNBC's "Squawk Box."
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