Run-Ups & Pullbacks
The price action on U.S. tech stocks right now is completely bonkers.
It’s as though the world has stopped caring about anything except the narrative of the day. Tech stocks are either entirely insurmountable or imminently failing as collateral damage of AI adoption at large. There seems to be no nuance to anything anymore. It’s almost not worth thinking, really: just join the stampede in whatever direction it faces.
It’s tempting to try to buck the trend - to “be fearful when others are greedy, and greedy when others are fearful” as the saying goes.
But there’s a lot of pain to be had if you try to catch a falling knife at the wrong time: you need a long time horizon, a thick skin and a strong stomach.