Loading ...I’ve noticed a lot of names have been beaten up pretty good. I don’t watch many names other than pm’s but a couple I do are down 50 and 75%. Seems that the mega caps are sort of holding up the indexes as the author mentions. Stocks like NVDA, TSLA, AAPL, etc. have held up really well, even though off their highs.
Makes sense that a crash in those stocks could occur and really rock the indexes. I’d think it would take the beat up names down even worse than they are. 50% crash is a lot of damage. The Nasdaq was weak on Friday.
Hopefully pm’s will stand strong in that event and garner some of the money coming out of the big names.
Been watching Bitcoin over the weekend. It’s stayed flat. Doesn’t appear that is a “flight to safety” asset at the moment, which we’ve seen in the past. It has been flat this weekend. I guess that may mean the flight will be into oil, pm’s and the dollar. That would be my hope anyway, and the long, long correction in pm shares is over.
These are really unprecedented times.