Yesterday's overly dramatized sell-off in Mag7 stocks, was very narrow in scope. My only gripe is that none of the leveraged bear ETFs even came close to capturing the 5% downside (rounded).
None of the leveraged 3X ETFs are a pure MAG7 play. $MAGS was down 4.63%. None of the leveraged bears were up even 12%. $WEBS was up 8.15%, but only because of google. Buyer beware.
— Veteran Market Timer (@3Xtraders) July 23, 2026
Bloomberg was seen spiking the ball in the endzone immediately after the close - reporting the rounded up to 5% sell off - because it was in fact their own Mag7 index that was targeted. Goldman quotes the same numbers, so all the usual suspects were on board... and which Mag7 name did the globalist banksters hit the hardest? No, not Apple.
"$TSLA Tesla - the one the globalists love to hate - was hit the hardest. Remember my call Nov. 18th, when we dissected the Mag7 - in depth - in a blog series [link] - quote:
"All Booms eventually go bust. Which one do you think will go to the pennies first?
I think Apple, NVIDIA, & Google/ Alphabet are set to be crushed, but I think Tesla will lead the way... (lower). I know some of you will fight me on this, but it grew too fast, and you know he has a target on his back. They are out to get Elon."
Then came the call that set the ball in motion
Top Fund Manager Warns Mag7 Stocks Will Drag Down the S&P 500
The Mag 7's reign is ending. A top fund manager says that means trouble for the S&P 500. $SPX https://t.co/KEussvRc0M
— Veteran Market Timer (@3Xtraders) July 24, 2026
12 hrs. later mag7 index suffers its worst loss since April (many sources)
I was lucky enough to see yesterday's rout coming, as I'm sure many did. This earnings season has been a sell the news event since Samsung reported. I even moved the 401k out of the direct line of fire. But at the end of the day nothing has changed.
I went into today's session, net short. Even the 401k was moved out of the firing line at yesterday's close. Still bonds got whacked.
— Veteran Market Timer (@3Xtraders) July 23, 2026
Canada still looks good. The NYSE only ended down -.19%. Its the $SPX, and the Nasdaq that's volatile, and probably going to stay that way.
Looks… pic.twitter.com/9rltZplTng
Just Another Summer Swoon
That's my take. Even the crude oil/energy rotation seems to have been perfectly timed. Brent crude driven to the $100 (even number target) - now profit taking - one day after AI investors were robbed?😜
 |
| investing.com |
I would still keep the $VIX on a short leash, and be on the lookout for more rotations, within the AI space, but this looks like, just another summer swoon to me.
No comments:
Post a Comment