The NASDAQ Is In A Correction
Yesterday was a difficult day for tech stocks as the Nasdaq Composite closed in official “correction” territory, meaning down more than 10% from its high. The rest of the market fared pretty well yesterday.
Our Buy List gained 0.82% yesterday compared with a loss of 0.54% for the S&P 500. Unfortunately, that’s not so much due to our brilliance. Rather, we are underweighted in big tech and we own Disney. That worked wonders yesterday.
The market is up nicely this morning and many tech stocks are leading the charge. Oil is pulling back a bit after its big gains following the Saudi attack. Bitcoin is back over $1 trillion in market cap.
Posted by Eddy Elfenbein on March 9th, 2021 at 2:13 pm
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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I just saw a video on TikTok which said we have nothing to worry about with China. It said the CCP is terrific!
The Fed is regulatory, governmental etc. So it's a little different. But it's incredible to see years and years of effort to turn large corporations into vehicles for progressive priorities collapse so rapidly. Not clear that there's much to show for it.
"Two thirds of Berkshire’s market cap has been added in the past ten years."
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Eddy Elfenbein is a Washington, DC-based speaker, portfolio manager and editor of the blog Crossing Wall Street. His 
