Chart of the Day: Marvell Is Taking a Breather
The high-energy semiconductors may be undergoing a correction.
Memory Stocks Made Us Some Cash, Then Came Wednesday. Now What?
SanDisk, Micron, Western Digital and others got a Wednesday beating, so let’s take a look at the charts and see how to handle ’em now.
Taking in Some Memory Shorts
I have taken in some of my SNDK and MU shorts:
* SNDK ($SNDK) $1889 (-$141)
* MU ($MU) $1008.50 (-$24)
Positions: Short SNDK VS MU VS
Stunning South Korea Stock Shock Triggers Circuit Breaker as Semi Names Strike FOMO
The Seoul market and select chipmakers around Asia saw wild volatility, but the chaos is highly sector-specific.
SanDisk Slashed, Micron Mashed; Jobs Day Forecast; And Are You at Your Desk?
Let’s look at the beating taken by memory stocks yesterday, the shot at a September rate cut, jobs day , and how July 4 week used to work for traders.
‘Big Short’ Michael Burry Shorts the AI Trade
Was Wednesday’s poor market performance a warning of things to come?
Short Basket Update
Another leg lower for momentum, high beta tech (part of my short basket).
I am sticking with the remainder of the basket even though some of the drops have been dramatic:
Today’s Selected Price Changes in Short Basket
* SNDK ($SNDK) -$255
* CAT ($CAT) -$58
* CRWV ($CRWV) -$15
* INTC ($INTC) -$11
* MU ($MU) -$98
Position: Short Basket
Make or Break Day for Brokers, Danger on Chart, Mag 7 Down
Here’s why good economic data is weighing down stocks, Russell’s rebalancing will make winners and losers and the chart looks … perilous.
The Market Has No Memory From Day to Day
The problem with shorting (or buying indices) late in the day or in the evening — as I often do — is that the fate of the general market’s opening is determined by the overall movement memory stocks.
And to predict/guess the opening price of $MU, $SNDK, $AMAT, $AMD, $INTC is a “fool’s errand.”
The market has no memory from day to day.
Position: None