I feel like the people really worried about “buying the dip” today are people that are sitting in majority cash.
I don’t think $AMD(AMD.US) is the most amazing dip ever down from $350 to $320 after it went up from $195. Maybe Lisa Su crushes and it gets back up there, but it requires a catalyst now vs the general market momentum that brought all of the semiconductor names up. I also don’t think $NVIDIA(NVDA.US) from $217 to $210 is some huge dip opportunity when it’s up from $165. But, if you don’t think you will get another opportunity to buy $AMD(AMD.US) lower, I can understand rushing to buy in. It’s just the risk could be more skewed vs the reward because again, the name has had a massive run. $Amkor Tech(AMKR.US) just demolished earnings but it’s down because it was up 80% YTD into the print.$Marvell Tech(MRVL.US) is down 9% but is up 74% YTD.Same story with $Arm(ARM.US), $Celestica(CLS.US), $Broadcom(AVGO.US), and so many more names.Maybe you have to nibble if you are only in cash but it seems like one of those days to just chill and not be super greedy given every overbought name is just doing what an overbought name does…which is pullback.Source: amit
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