This meltdown seems to indicate that a lot of the rally was based on the Yen carry trade. Yet another liquidity driven rally. The same old story.
S&P is a carry trade, everything basically is these days thanks to FED actions. See:- The Rise of Carry: The Dangerous Consequences of Volatility Suppression and the New Financial Order of Decaying Growth and Recurring Crisis on amazon or elsewhere (link got butchered)
I got some nvda throught a fund I own and also short NVDD ....However I'll be shorting NVDX on the next nvda surge...earnings in 3 weeks so this stock is easily going to move 20-30%!!
Everyone now thinks the market has suddenly gotten smart. I beg to differ... that stupidity has a lot of life left in it. To the moon Alice!
Nvda now at 102...slowly climbing. As I said last night it wouldn't surprise to go completely green by the close.. My best buy today was not nvda or any tech stock. It was ETHT, that thing was down over 50% bought at 12, wish I had bought a 1000 shares but no way was I going to get that risky with crypto ....but so far it's doing extremely well since the open..