In Feb, I said #nvda was a classic bubble. Annoyingly, it stopped short of my idea bull trap sell zone by $6. But it's now in the "bust" targeting prior support/resistance levels. With disappointing earnings $150 is key. My bet is we are heading to pre-covid levels.
Sure, if stocks keep selling off, we can push the US into #recession (sustained 30% in S&P should do it). But currently talk of recession is premature. US firms don't see it! Yes, activity is slowing. But that's what the Fed wants. PS and #inflation pressure is still MASSIVE
I couldn't agree more with @Mike_Taylor1972 . Our cost model suggests #Equities face a MASSIVE headwind. The result will either be a collapse in margins or price increases that stoke inflation and hence increasingly aggressive policy response. Neither is good news for #stocks
We’ve been following #ARKK’s saga for months now & last week it followed the http://dot.com pattern down to my “mid-30’s” target. As discussed with @TommyThornton, it may be a decade plus long road back to happier levels. This thing's not coming back tomorrow!