New to Nutbox?

Time to buy the tech wreck?

0 comments

jrcornel
84
3 years agoSteemit

I think it's time to jump in and buy some tech stocks

If you haven't been following along, tech stocks have been getting slammed for months now.

That trend has been accelerating these last few weeks, with many tech stocks off double digits in the last couple weeks alone.

That being said, I think we are getting very close to the bottom in these things.

We are down some 50% in a lot of em and things like ARKK are looking very attractive.

I recently bought it here at $102:

image.png

(Source: https://stockcharts.com/h-sc/ui)

Awesome, but why mention this in a mostly crypto community?

Well, because they are all correlated at this point.

The selling in tech stocks has spilled over into bitcoin, and the weakness in bitcoin has spilled over into altcoins.

Once tech stocks start going up again, bitcoin and crypto will likely go up again as well.

I'm buying this tech fund in a retirement account where it's more difficult to get crypto exposure.

Make no mistake I think this is just a pause before the next leg higher in risky assets.

Stay informed my friends.

-Doc

Comments

Sort byBest