Friday’s session seems like a million years ago, maybe because it was such a wild week of gyrations and mixed messages.  Growth popped, but momentum struggled to stay in the green.

The hyperscalers are back in favor at the expense of semiconductors.

Retail investors abandoned “buy the dip” and instead rushed for the exits, accelerating the decline in semiconductor names.

Despite a slew of headlines heralding increased infrastructure and semiconductor investments, these names remain under pressure.

The SMH is in no man's land and needs to test the 200-day and hold or reclaim the 50-day.

Russell 2000 and NASDAQ 100 are back in the buy zone, and S&P 500 under 20 PE appeals to big money buyers.

Earnings Calendar

This isn’t as big as last week, but there are names capable of moving sectors and the entire market.

US intervention with the Yen should help slow the rise of the 30-yield, but I’m not sure how sustainable it will be.  Moreover, I’m not sold the rise is about inflation and not demand (BOJ), supply (Treasury), and data center economic boom.

Seasonality is not in our favor, but fundamentals are – keep that in mind.

Investors have gone back to believing in the hyperscaler story and selling semiconductor names.  I think both will be winners over the next couple of years.

Comments

Coment Micron Up and Downs? Between quarterly reports, an Options Mafia controles the price. They have cash, shares, and us other trading actions to mostly control weekly option expiration prices to maximize their option contracts which they determine early in the week. I have 1000 shares and have watched this action since I bought mine in Nov. 2025. Do I care ?, NO. I'm not buying or selling, ot playing options. Yes option trading is legal, but such a collusion enmass, is ilegal. The SEC doesn't seem to care, there'r BUSY. Keeping the price between the last high and a current low price provides maximum opportunity for option 'pinning' (the Friday control action). Such action is unfair to retail investors who have no idea what is happening. What is the real Micron ptice they question. All I know is that with the best product, miles ahaed in new foundry establishment, and overall management, a 3-4,000 price in three years is likely. How about the so called 'memory cycle'. Not this time. Data center demand will be followed by robatic demand, and with their massive earnings there is no doubt they will expand profir centers, buy other companies, and other activities to have a Market Cap. just below NVDA. Just wanted you know the real facts behind the 'ups and downs'. Fleming Cook Hobbs on 8/3/2026 10:31:39 AM

Mr. Payne, I truly enjoy reading your comments Todd Power on 8/4/2026 12:38:15 AM

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