Futures were strong earlier but now down…down much more on the NASDAQ/NDX. Big TECH continues to be yonked.
We were even surprised how weak the market was yesterday. When a market is stretched. extended and oversold, bounces usually occur. So far, they haven’t lasted a day. Continue to sit back and be patient.
Our thesis on MARIJUANA stocks is now being played out. We expect this frothed up, ridiculously valued area to be slaughtered, akin to the “coin mania.” You just cannot have $15 billion market caps with very little sales. The comeuppance seems to be at hand.
If this is indeed a real bear, anything losing money will have the curtains come down. Think clearly.