Cathie Woods Ark ETF’s look to be heading for trouble. If the rates go up and the nasdaq breaks below 13500 ( neck line of the double top), I think a lot of her speculative names will crash. The electric vehicle bubble is already bursting.
She says she loves this sell off. She loves the fact she is down almost 33% She says the market is strengthening
$NDX is a much better tech weighted index benchmark (100 largest companies versus all 2500+). But ARKK is far from the only ETF that will be in trouble if tech itself rolls over.
Agreed, but I do think it highlights that in the real endgame (true bear) ARKK may well do a 90%+ DD. Putting a stop at 50% draw down might be wise.
ABBY JOSEPH COHEN 2.0 I am having Déjà vu!!! I clearly remember Mark Haines from CNBC interviewing this total piece of shit human being, at the height of the dot com mania. He asked her what she thought about the market, and she answered "I remain cautiously optimistic". Mark Haines, then answered "thank you for such a useless statement". I have tried to find that clip, as I was on a trading desk when this happened, watching it live, and I will always remember that moment. Unfortunately, it's been scrubbed off the internet. If anyone has it, PLEASE post it...
Haynes was awesome. Pulled no punches with anyone. Always said what was on his mind. Haynes was notorious for hating the French. Two great Haynes French lines- He called them “cheese eating surrender monkeys” and another time when talking about French made guns he said “They are made to be dropped”. RIP Mr Haynes
It's an unfair stereotype, admittedly, grounded in most foreigners having only a very high level idea of the western front in WW2 ("the French surrendered"), whereas if you look at the details individual French soldiers fought bravely in a desperate situation, e.g. enabling allied withdrawal at Dunkerque. While I do think this stereotype is funny, I would probably feel slightly offended if I was from France.