The stock that is solely to blame for today’s rapidly disintegrating rally is Broadcom (with the inexplicable symbol AVGO – – go figure). The stock is up literally 200-fold since the financial crisis because, let’s face it, who can get through their day without consuming some Broadcom products?
What am I doing about it? Getting MORE bearish! I’m increased my SMH position, and I’ve done the same with AMD, which has quickly become The New Intel of the semiconductor sector.
This meme sums up the situation nicely. All the thighs are just a bonus.
