Semiconductors plunge


The broader market didn’t even blink
SOXX -2.78% SMH -1.89%
SPY spent the whole day hovering around 740, basically unmoved
NVDA is only down 0.4%
Usually, when semiconductors get smashed here, NVDA leads the way
Today the leader won’t move, so the followers lie down first
In less than a month, SMH fell from 670 to 566
Erasing 15%
I added a bit of a short position
Not betting on a breakdown
SPY is near all-time highs, and the market is totally not afraid
When nobody is afraid, that’s the real risk
SOXX-2.46%
SMH-1.51%
NVDA1.00%
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