Economic reports came in mostly as expected. PCE matched forecasts at 0.3% month over month and 3.1% year over year. GDP printed at 3.4% versus the 3.2% estimate, which points to a growing economy but with some inflation still in the picture. Initial jobless claims were slightly better than expected. $SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ BTC.X SLV.X $iShares Semiconductor ETF(SOXX)$
$Bloom Energy Corp(BE)$ If anything, GOOGL is going to spend even more on AI infrastructure, which works in our favor. This volatility doesn't seem driven by any major change in Bloom's fundamentals. Honestly, this market is pure sentiment-driven, moving on algos and positioning. One day everything looks terrible, the next day everything looks great. If you're long, forget you own the shares and let the business do its thing. If you like swinging, this is your kind of market.
$Bloom Energy Corp(BE)$ Bloom Energy may get approval to supply independent power to military bases. The administration has announced that every military base should be independently powered for a minimum of 90 days, with a target of 6 months.
$SK hynix(SKHY)$ Seems like this is near a bottom with earnings coming tomorrow night. This used to trade above $190. If it doesn't move up on the earnings report, I honestly don't know what to say.
$TeraWulf Inc.(WULF)$ $SpaceX(SPCX)$ $CoreWeave, Inc.(CRWV)$ $Core Scientific, Inc.(CORZ)$ $IREN Ltd(IREN)$ MSFT just cut 27% of its workforce, around 60,000 workers, to replace them with AI, though they're calling it buyouts. And this is nothing compared to what's coming in 2027 and beyond. The company said it wants to retool its workforce for the artificial intelligence era. I've been saying since Q3 2023 that the time to make as much money as possible is now, because AI and robots are coming for jobs.
$Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ I think a realistic short-term target is around $75-80. It has never broken past the 20 EMA because of decay and reverse splits. Until then, a correction is coming. By the time SOXS reaches $75-80, SOXL will likely be around $50.
$Applied Optoelectronics(AAOI)$ If the Trump administration releases a bill at the end of this year banning transceivers from China, the current price would look very cheap. That would likely make this one of the hottest companies in the US, given the super extreme demand for its transceivers. US customers would be begging to buy them. Right now, China accounts for 50% of transceiver revenue worldwide.
$ProShares UltraPro QQQ(TQQQ)$ The Nasdaq future is already down 840 points. Based on my next support level, it could drop another 260 points for a total decline of 1100 points.