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Wall Street Today: Market Turns Around, Let's See if it Lasts
"No one survives"! Popular Technology stocks fell across the board, with MSTR down over 7%, Palantir down nearly 6%, and NVIDIA down almost 5%.
Last Friday, the chip stocks that led the decline in the US stock market continued to fall, with Micron Technology dropping over 6% at one point; AppLovin, which had the highest increase in the Nasdaq last year, fell over 3% intraday; Algo "meme stocks" collectively experienced double-digit declines, with D-Wave Quantum falling over 30% intraday. Following last Friday's employment report that dampened rate cut expectations, the US stock market faced additional Bearish news: the Biden administration announced AI-related export controls; NVIDIA's new generation Datacenter chip was reported to have received order cancellations from customers due to malfunction.
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TheOracleOfBroMaha : MULL also…
TheOracleOfBroMaha : Check it…
TheOracleOfBroMaha : I don’t have John’s
10baggerbamm OP TheOracleOfBroMaha : what I'm saying is I use these ETFs all the time some of my un married to I've owned them for quite some time but most are very short-term because of the leverage and I try to stay with ones that have options on them many of them don't or one company offers a lever CTF against an index or stock and they have options another company does not I won't even go near the one that does not have options because if for some reason the trade goes against me I can sell calls or if I want to initiate a position on them I can sell puts to collect premium rather than put with a limit order in below the market waiting for the stock price to fall..
TheOracleOfBroMaha : Well, you’re smarter than me. I just made a list so that when ones in the shitter, I can buy the short lol. Some days I feel like it’s a sickness because as much as I want to do something else I know that I can’t let my money just sit in cash and I can’t let it just sit in some stock to bounce around so every day I try to a couple that have a little fire beneath them, try to get out of the day with a little extra. I’ll just call it beer money.
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