When The Chips Are Down
The story on Monday is the rout in semis. I'm not sure there's any way to dance around that.
You may not care about chip stocks. I certainly don't. To be clear, I'm not sure why anyone would own them knowing where we are in the cycle and considering how sensitive they are to trade escalations, but it makes no difference to me.
What does matter, though, is the macro story and semis are now synonymous with that overarching narrative. This is similar to what happened in November, by the way. At v
