China is in a recession pit. This will hurt all imports coming into China- the second biggest purchasing economy.
That said, all prices are lowered and domestic consumption will be preferred and at an all time high as prices are reduced greatly. Exports coming from China will be attractive for the rest of world due to lowered prices and lower interest rates.
22nd August is just around the corner and many countries have stocked up on real solid gold in their coffers.
Seems like US tech will be fumbling with lots of complexities in this climate. Impending rdoom is imminent. SOXL will continue to slide back down to the tens of dollars per share soon.
Michael Burry has "put" his bets against the S&P and QQQ. The last time we saw something of this scale, was the 2008 crisis. Perhaps there is a sequel to the Big Short- The Big Put.
Comments
The upgrade is for next wave of NVDA moving up. Market sell off today because of Jackson Hole Fed meeting, once the meeting is over, Semi and Gold will shine again.
after the fed raises interest rates tomorrow and the market gets pummeled , soxl doubles in a month from tomorrow. soxl so oversold. basing this on wm%r chart on weekly 2 year chart when soxl was this oversold before.
Whether will have follow through or not who knows but should give long investors some added confidence AI and semis are here to stay for a long time to come.
I think what we are seeing is everyone realizing why invest in other chip companies when NVDA is the clear winner. Is there a 3x bull NVDA stock lol
Gotta admit, I wish I was trading SOXL more aggressively (long & short). On a 1-3 day basis instead of a 2-4 week cycle. Big ranges every day.
Well NVDA is only stock still up. This same thing happened to AMD. They blew the numbers out and next day market sold off and they closed down.