The Pullback is Finally Here! Did You Shop on Sale?
Yesterday, led by the semiconductor sector, $NASDAQ(.IXIC)$ had its worst day since 2022. $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ plummeted by 21%, while $Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ surged by 21%. $NVIDIA Corp(NVDA)$ shares fall 6.6%, market value evaporates $205.9 billion overnight.
Chip stocks were hit by actions from both the Biden and Trump administrations. The Biden administration had previously informed allies that it would consider imposing strict restrictions on certain chip companies.
Following the S&P 500's record-breaking 38 highs this year, the US stock market is now exposed to the risk of weak capital inflows and is susceptible to negative news.
In a memo sent to clients on Wednesday, Goldman Sachs strategists mentioned that, based on data since 1928, July 17th typically marks a turning point for US stock returns. The subsequent month of August is usually the worst for passive investment and mutual fund outflows.
However, some investors seized the opportunity to buy the dip in Nvidia yesterday. A netizen commented, “It's a Prime Day sale. Get it while it's cheap.” Some tigers bought Nvidia under $120.
If this pullback continues, Nvidia's next targets could be $110 or $100.
Did you shop on sale?
At what price would you bottom fish?
Leave your comments and also post to win tiger coins~
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
time to shop if pullback, buy low sell high [Grin] [Grin] [Grin]
that's the way it is, that's the cycle [Grin] [Grin] [Grin]
show and give me the [USD] [USD] [USD] [Evil] [Evil] [Evil]
@Aqa @GoodLife99 @Universe宇宙 @rL @HelenJanet @Shyon @LMSunshine @koolgal @SPACE ROCKET @TigerGPT
Did you shop on sale?
At what price would you bottom fish?
Leave your comments and also post to win tiger coins
🌟🌟🌟Market Pullback is a scary time but a great time for Bargain Hunters like me. I love sales and the market pullback is Action Time for me. So I went in and bought Nvidia yesterday because I believe that Nvidia has exponential growth ahead. This is due to Nvidia 's dominant position in specialised chips that are selling like hot cakes.
As Warren Buffett likes to say When there is Fear in the markets it is time to be greedy.
@Tiger_comments @TigerStars
NVIDIA seems to form its short term bottom near EMa50 and rebound here. If the momentum could sustain this week, I believe it is a good chance to collect NVIDIA now.
Kao