After the word hit following Wednesday’s close that Trump was going to hit semiconductor firms with a 100% tariff, my heart soared at what was coming. Turns out the threat was utterly empty, because the tariff would be set aside if any company in question pledged to, ya know, build a plant somewhere in the U.S. real soon now, which means all of them. Thus, the entire 100% tariff crash can be seen on the NASDAQ futures chart, highlighted in red. Feel free to use magnifying devices if they are of aid.
Funny enough, the one company that responded positively to the brief 100% tariff news was Intel since, as a company right here in ‘Mericuh, they would benefit from this arrangement. When it became clear that no such advantage was forthcoming, poor old Intel, whose heyday ended a full quarter century ago, simply returned to doing what it does best………..which is bleed out to lower price levels.
As the /NQ chart illustrated, the market has been pushing higher all night long, and the morning screen is annoyingly green. A couple of my positions are looking good for the open. Those are e.l.f. beauty:
As well as one I shorted just minutes before the close yesterday, Vistra Energy.
I presently have 27 short positions and a commitment level of only 79%. The market remains annoyingly robust, although my experience recently has affirmed for me that we are at least in a stock picker’s market again, in which well-chosen equities can defy the norm.
