Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 43.25

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4:00 PM EST

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From: Joe Wheeler	10/13/2022 6:35:20 PM
	4 Recommendations Recommended By CrashDavis isopatch Tweets Boar Hog vixson of 207397

It’s not all doom and gloom 1. We’re seeing the highest proportion of insider buying in Stoxx600 for 10 years 2. cash levels for mutual funds are extremely high, positioning in Europe is extremely low 3. PE dry powder is at all time highs 4. employment remains (thus far) sticky and high 5. US equity futures position % open interest remains at lowest since GFC, vol control funds equity allocation at 5th 10y%ile. CTAs are now flipping to buy, which could contribute to a large right tail asymmetry (GS trading desk) Tech bounces 18 months before fundamentals That is to be more specific, semis. Anyhow, three important points from the Morgan Stanley Asian semi team's upgrade from last week 1. the cyclical sell-off has already been punitive in an historical context 2. the magnitude of the valuation correction (YoY) is approaching extremes relative to the last two decades 3. earnings risks are now well understood and it is surprises that will drive stocks from here

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