Mike Schroepfer on Twitter yesterday wrote a fantastic article in his thread regarding the Tech Bubble in 2000. The "Silicon Valley" version.
It made me think: what if the cows are finally coming home now post-2008 recession?
The 1M timeframe shows price riding my 6EMA like a drunk girl at PBR Big Sky.
We have not seen a swing low since early 2009. The local swing low was that of March 2020 - which, by and large, was only a blip on the overall radar of the NASDAQ.
Mind you - outside of the NASDAQ 100 (a price buffer for tech companies listed on this index), MANY MANY of these stocks within are down 80% from either their debut IPO OR overall the local top.
And....the bloodshed is not over yet.
Be safe fam. Scale in, and scale out, OR maintain your emotions and stay in cash and watch the bloodshed unfold. Don't get excited about ANY bounce you see. I promise you they will be short lived and you don't want to get caught with your pants down.
It made me think: what if the cows are finally coming home now post-2008 recession?
The 1M timeframe shows price riding my 6EMA like a drunk girl at PBR Big Sky.
We have not seen a swing low since early 2009. The local swing low was that of March 2020 - which, by and large, was only a blip on the overall radar of the NASDAQ.
Mind you - outside of the NASDAQ 100 (a price buffer for tech companies listed on this index), MANY MANY of these stocks within are down 80% from either their debut IPO OR overall the local top.
And....the bloodshed is not over yet.
Be safe fam. Scale in, and scale out, OR maintain your emotions and stay in cash and watch the bloodshed unfold. Don't get excited about ANY bounce you see. I promise you they will be short lived and you don't want to get caught with your pants down.