It's already time to declare victory again, after Monday's monster rally in the Semiconductor space. It's a little unusual to find such good market action during the summer, so you gotta take what you can get.
The lying lame stream media are all reporting that, "big Tech led yesterday's rally", when in actuality is was Semiconductor stocks, including NVIDIA ($NVDA), and several other names in the space making new recent highs ($AMD, Micron, Broadcom, and $KLAC to name a few).
As I blogged last week, I suspected Semis were being pumped by CNBC Pro traders, and low and behold - after Friday's 1 day sell-off - BOOM - yet another short squeeze.
See:
Market Update + Best performing stocks for the week ending 6/6/2025
Here I am calling the trade out, just ahead of Friday's close:
Semiconductors bounce off support... $SOX $SOXS $SOXL $SOXX #Chips #NVIDIA $NVDA #Iran schmiran pic.twitter.com/JtHvR1DCfZ
— Veteran Market Timer (@3Xtraders) June 13, 2025
$VIX remains low
I think most investors were not fooled by the +20 VIX
If the powers that be want to take the market down, then they know how to drive the $VIX to 60, on bad news. lol
— Veteran Market Timer (@3Xtraders) June 13, 2025
I even offered a simple $VIX chart to prove it was another bear trap
$VIX hits resistance. $IYM Russell 2000 was bought at the 50 day. $SPX hasn't even tested the 2- day. This is a nothing burger unless and until support breaks. PERIOD pic.twitter.com/qz5ZEvLx6Z
— Veteran Market Timer (@3Xtraders) June 13, 2025
ChaChing! +10% gains on the $SOXL
It was as easy as identifying which sector is being pumped by the fast money, and following the action.
Wall Street obviously isn't too worried about Israel ramping up their aggression in the middle east... In fact they probably can't wait to test the latest laser weapon technology.
Israel to show fresh weapons at Paris Air Show
Take care, AA
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