I think you guys are putting too much weight on this Russia is to blame stuff. There is this current machine already in progress called the Nasdaq Tech-Wreck going on... with many more equities ready to get gutted this week. Even if Russia turned into tree-hugging-hippies, equities are insanely over-valued and we knew the correction was going to come. Hold onto those shorts and enjoy the next ride down my friends. Poor Cathie Wood, she looked like she hadn't slept in 2-days during that last interview defending ARKK. Things are going to get even worse for her I believe...
And she still believes this is a buying opportunity. She reminds me of Mr. LEE, however she has many billions of dollars at stake in all her funds that she thought would never actually sell off. The problem with her funds is that they have fallen 3x and 4x what the nasdaq has sold off. So imagine the nasdaq drops say 30 or 50%, those funds will literally be sitting in the single digits.
I respect you for that, but as a long side trader, these are the markets I crave, because when people start looking to the nightly news for tips on market direction, it means its already dropped a lot, and ensuing carnage will offer great buying opportunities for traders. Nasdaq is already down 7% since Wednesday (from highs to todays lows) , and for buyers, sharp acceleration increases is your friend. (and as a result, when it rebounds, it will likely be sharp too.)
It’s not Russia thing itself, it’s what the Russia thing will do to global energy prices COMBINED WITH a Fed that’s getting serious about tamping down inflation.
%% Most likely already priced in; FEb + MAR= selling season usually + tax selling ........................................ NOT a prediction