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The raging rally in semiconductors came to a screeching halt on the 8th of this month, and they’ve been trying to figure out their next move ever since. I’d like to point out that the fresh price gap in AMD is an important litmus test. Following today’s FOMC’s shenanigans, if this gap holds, I believe semiconductors will have the “all clear” to keep working their way lower.
The big tech news this morning was that Apple was going to license the Gemini AI (you know the one – – in which the founding fathers are all represented as black and Asian) from Alphabet (more popularly known as Google). My perspective is that all this achieved is to seal up the price gap, and, having returned to lifetime high territory, Google has already shot its proverbial wad.
If you want to see what a stock looks like when it falls out of favor, look no farther than Tesla. In late 2021, this stock could do no wrong. Elon was infallible. TSLA did nothing but go up.
Lately? Not so much. It is worth about 40% what it used to be worth. Worse yet, it is simply hammering out a series of price levels against which it will likely not rise, the latest of which are these price gaps. And keep in mind, this is in the context of the most over-inflated, fake, government-induced joke of a stock market in the history of the human race.
For the bond fund TLT, keep an eye on 96.89. That’s the level of the price gap. If we stay below it, and weaken away from it, that could be a heads-up that equities aren’t going to go up every single day forever anymore. Just sayin’.
Netflix has a P/E of about 50, and I think it is losing momentum. Take note of the price gap between Monday and Tuesday trading.
