Take a look at CIEN and PD today, dropped right back into pre-COVID trading range.
Appears the zero interest rate pump is finally over, we can finally start looking for stocks to short on earnings . Look for stocks that have melted up but don't have the earnings to back it up.
Expect a lot of stocks to drop to pre-COVID levels. Not all tech stocks though, COVID has changed the way some companies do business. Certainly there will be more video conferencing and working from home even after a vaccine comes out, and PPE sales will be higher than pre-COVID levels, etc. But I think the parabolic trajectory is over.
Appears the zero interest rate pump is finally over, we can finally start looking for stocks to short on earnings . Look for stocks that have melted up but don't have the earnings to back it up.
Expect a lot of stocks to drop to pre-COVID levels. Not all tech stocks though, COVID has changed the way some companies do business. Certainly there will be more video conferencing and working from home even after a vaccine comes out, and PPE sales will be higher than pre-COVID levels, etc. But I think the parabolic trajectory is over.
Nota
NQ1! was at the top of my range, so I'm not surprised that 
NDX tanked, but I think CIEN might actually have helped it along:Gary Smith, President and CEO, Ciena. “Although COVID-related market dynamics have resulted in an orders slowdown and are likely to adversely impact our revenue for a few quarters, we are confident in our ability to continue executing on our strategy and expanding our market leadership."
investor.ciena.com/news/press-release-details/2020/Ciena-Reports-Fiscal-Third-Quarter-2020-Financial-Results/default.aspx
I said a couple of months ago that companies will decrease tech spending to cut costs, looks like that may be happening now. Non-tech companies are struggling to make enough profits to pay dividends, there will be more cost cutting ahead.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.