They are crushing the semis betting that the whole move up was nothing more than a head fake and the retest now upon us.
All you need to do is key off of Micron (MU) where the actual prices of what it makes are continuing to go down with today's focus on flash.
I come back and say that this is the selloff that a lot of people have been waiting for. You missed (AMD) ? Here it comes. You thought Intel (INTC) was just so so? You can buy it soon with a lot less worry.
Do I think the whole move should be rolled back?
No, and it won't be. But I am cognizant of the direction here and if you agree with me that they will repeal a lot of the gains but not all, guess what.
It's time to buy using very wide scales, knowing that we aren't at the bottom but betting that the bottom we saw earlier will not be tested and the U-turn while not being a V - will happen faster than people think.
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We rallied, because China's President Xi and Fed Chair Powell made decisions that they knew would lead to rallies.
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