Tech stocks rebounded Wednesday after falling Tuesday. Write that down. Frame it. This counts as financial news now.
The global AI selloff battered chip stocks for exactly one trading session before everyone decided actually never mind. Turns out the armor had no cracks. Or it had cracks but they filled themselves in overnight. Or there was never any armor to begin with and we've all been staring at a shirtless man this whole time insisting he's wearing plate mail.
Choppy trading followed. You know what choppy trading means? It means the line went up and down instead of just up or just down. Traders watched their screens move in two directions and got so confused they had to call it something. Choppy. Like the ocean. Like anyone trading tech stocks on Wednesday has ever been on a f*cking boat.
The rebound happened amid the choppiness. Stocks bounced while also being choppy. They were choppy bouncers. Bouncy choppers. The metaphor collapsed into itself but someone still filed 600 words about it for Bloomberg.
Retail traders who panic-sold chip stocks Tuesday bought back in Wednesday at higher prices. They paid extra for the privilege of holding the exact same companies they owned 48 hours ago. This is called participating in price discovery. This is called liquidity provision. This is called getting your face ripped off in both directions while CNBC plays dramatic music over a chart that looks like a drunk guy's signature.
The armor had no cracks. Remember that. The armor that definitely exists and definitely protects something had zero cracks in it. Tech stocks proved they're invincible by falling hard and then rising slightly less hard. That's what invincibility looks like now. That's what no cracks means. Your standards for structural integrity have been adjusted accordingly.
Photo by on Unsplash
Leave a Comment