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Last week, I went out and said the market was on the “edge of the abyss” of volatility. Plenty of people probably thought I was freaking out – after all, plenty of tech stocks were hitting highs. But I said at the time that tech had taken no damage. I said tech needs to take a big hit before volatility can come out and start collecting heads. Well, that’s what happened this week: damage.
We’re starting to see damage to leaders like Nvidia. Meta and Amazon are starting to get dinged, too. (Forget about Netflix – it doesn’t have the market cap to move entire indexes.) And by damage, I mean NVDA alone is down 10-freakin’-percent for the day. If that’s not damage I don’t know what is. With all that said, I’m not necessarily a bear – I’m just all about volatility… because that’s where the money’s made. Here’s where I expect that to happen…
