Options777
06-28

Stretching out the chart for $S&P 500(.SPX)$  $VanEck Semiconductor ETF(SMH)$  $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ , the current dip is a minor pull-back and shaking out those who are panicking after the 3 months of all time highs.


The sell-in-may event this year got postponed till mid June because of the Iran war and the world cup. Big boys traders are taking a delayed summer break now thus the money flow is mainly algorithmic by the market makers.  I expect to see more catalysts coming in late July onwards and hopefully we will resume a bullish trend towards mid terms.


@Tiger_Earnings  @MillionaireTiger  @Daily_Discussion  @TigerStars  @TigerWire  

Modified in.06-28
Two Rounds of Treasury Buybacks, and Long-End Yields Still Hit a New High?
The Treasury bought 20- to 30-year debt again Wednesday, capped at $6B — second round in two weeks; the first filled only $5.2B. The bid came, yields didn't fall: the 10-year closed at 5.11%, up 15bp and the highest since 2007, as was the 30-year. October Fed hike odds hit 69.7%. Stocks fell: Nasdaq -1.13% to 26,936.04, erasing Tuesday's record; QQQ -0.84% to $741.21; S&P 500 -0.75% to 7,706.03; Dow -0.68% to 51,511.59. Bulls say firm data, not weak demand, is lifting yields; bears say two buybacks and a new high prove the bid can't absorb supply. At what yield do you redo the math on stocks?
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Comments

  • pizzi
    06-29
    pizzi
    SMH still looks like a reset, not damage. If flows turn back late July, semis can rip again no?
    • Options777: 
      not sure what does damage means here but SMH is still moving above 30 and 50 day Moving average. the momentum is still going very strong, semis just announced price increase from July onwards, so funds should rotate into Semis, hyperscalers and cloud providers will continue to suffer
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