Please! Tops are a process, not a single event. But, today a lot of people are trying to exit through a very small door in tech-land.
In this interview I discuss what fascinates me the most - the short gamma effect. Essentially, that means in the options markets there are so many speculators that are betting big tech stocks will go up, the dealers that sell the options must hedge themselves by buying up those same shares. So, when things rise, they must chase it. Well, today the opposite happened.
Here is the unknown - will retail investors buy the dip? I give my thoughts, but nobody knows. Time will tell.