STOCK MARKET GETTING WORSE! NO BOTTOM FOR AI STOCKS!?📉

Rough day for stocks, huh? Holy freaking crap, guys. One of the worst days that I've seen ever when it comes to AI and tech. And some of these stocks were already down 30, 40% heading into today. And they got hit even more. Let's dive into it. Break down some stocks. Nothing too crazy. We're going to cover some charts, the overall market, and we're going to break down my thoughts, guys. Oh, yeah. We're going to break down my thoughts. So, let's dive into it. By the way, hit the like button. Feel free to subscribe. Check out the Patreon if you want to see how we're navigating through this storm. You know, there's a private Discord. You see my trades. All that stuff's linked down below in the comments as well. And let's get into it. Man, we saw the VIX today. Did you guys see the VIX 70% up on the close? And I'm pretty sure it was up even more at one point. I mean, the VIX um it hit what 28 earlier in the day. It saw a pullback. So, I guess it closed at a peak on the [clears throat] day, up 70% on the day. I can't remember the last time I've seen that, you know, crazy freaking day, right? And the VIX now is at 28 points, trading at multimonth highs. We're pretty much back to where we were um you know, when the uh when the stuff popped off back in March, April, you guys know what I'm talking about. We're pretty much right back to that point. And honestly, the VIX isn't even that high on a, you know, point basis. 28 points considering the madness we've been seeing is not bad. I mean, I could I could see the VIX being at 40 50, you know, on a day like today. Maybe not 50, but you guys get the point. Either way, 70% up for the VIX, and it could get worse before it gets better. That's the reality. stocks like uh we covered these before, but we might as well go through them again. Crazy day, right? SanDisk and Micron. These saw a little intraday rally. I'm not sure if you guys noticed. Uh we had a little intraday rally, but really nothing. I mean, SanDisk went down 22% on the day. We were just over a,000 bucks literally yesterday. We closed at 1,030, I believe, and this stock hit the 700s today. 700s today. And I even nibbled a little bit more for the long term. I bought at I think 850. Um and it it closed at 807 or 805. Here we are, man. So, you know, you can't time the bottom with these things in this market. Nor I nor am I trying to time the uh bottom here. You know, I'm just nibbling where I see fit for my most um you know, highest conviction plays, which I mentioned in my last video. Stocks like Micron today, guys, 17% down and it's down even more in the aftermarket. This thing's at 650. We're back at the lows from May. We're talking about 6 months of gains gone for Micron. Now we're down from all-time highs about 50%. This is wild. If this thing gets anywhere near 4 or 500, I might have to go crazy and buy a bunch of Micron, which I haven't really been in uh for a while here. I can't remember the last time I held Micron. I am in SanDisk, but Micron at this point, it's getting to a point where I might have to buy and I don't want to go crazy and own so many AI stocks. So, I'm again I'm focusing on my higher conviction plays and I already own I guess one in the memory space, SanDisk. So, it's like, do I want to really add Micron 2? I mean, both of these are going to move in the same direction when they do move, but again, if it gets low enough, I might have to, man. And I might have to. And by the way, the Q's, I almost forgot. We should have started off with the indices here, guys, before we talk more about AI stocks. The Q's went down 7.1% on the day. 7% on the freaking day. It looks like now they're down even more in the aftermarket. So, they might have went down about 6 and a half, seven. Now, we're down seven and a quarter. I mean, this is unbelievable. And I'm I'm buying some QQQM. On a side note, guys, in one of my super long-term accounts, um I'm starting to buy some QQQM as of today, which I haven't really added that in a while, at least in that account. And I'm starting to buy some because this ETF now, which tracks the NASDAQ 100, we all know that it's down 15 almost 16% from all-time highs. What does that mean? We're almost in a bare market, guys. And whenever these, you know, big indexes or indices, sorry, indices, uh, whenever they're down 20, 25% from highs, which we're getting there, I like to buy a little heavier for the super long term. I'm not talking even 3, five, 10 years out. I'm looking like this is a 15, 20 or out type of account. And I'm starting to buy some QQQM, which the expense ratio on a side note, compared to QQQ, it's like 0.03% 03% last three basis points or not three basis points but 0.03% 03%. Yeah. Uh less than QQQs. I think QQQ's is one 0.15 or 0.15's QQQM's expense ratio. QQQ is.18. Uh but we're, you know, we're talking about pennies on the dollar here, guys, if that. But yeah, whatever. QQQM almost in a bare market. SPY, on the flip side, um is roughly down what it's got to be down like 8% now, 7% from high. So, if you're just nestled in the S&P 500, you're not feeling this, right? This thing's down 7% from highs. It's not even in correction territory. Whereas, again, the Q's are down double that. And they're almost in a bare market. Crazy how that works. And the Dow Jones, let me see how much the Dow's down from highs. Can't be much at all. Maybe 5% if that. Yeah, 5 and a half%. Dow went down almost 2,000 points today. Um, unbelievable down day for the Dow as the Russell is down or went down four and a half on the day and from all-time highs it's down roughly 11%. So SPY is almost in correction territory. Um, the Dow is nowhere near really. You know, the Russell is slightly in correction territory and again the NASDAQ's deep in correction territory almost in a bare market. Um, and it could get worse before it gets better. You know, people think today might have been a capitulation day. People say we have more to go, which I could see that with the VIX being at 28. 28's really not, I guess, panic level territory for the VIX yet. Uh, that's more like 30 30 really 35 to 4050. Uh, if we get there and the QC another day like today, I mean, that's going to be a day to really back up the truck uh for the rebound in my opinion, you know. But again, some people think today might have been the capitulation day in a lot of these names. Uh with the Q's down 7%. It might be. Who knows? Today's a day like, you know, that could be the capitulation day. But if we have another big leg down and support-wise here, pull up the one-year chart on the cues, guys. Take a look at where we're at. We're pretty much at this uh resistance from the end of 2025, the end of 2025. And look on the three-year chart. This will really paint the picture. At the end of last year, we were struggling to break out of 630 to 635 on the cues. And guess what? We're pretty much there. That's where we're at almost. So, if we get another leg down, we'll be right at 6:30, which technically speaking, that is a major support level. Um, and that's going to be the first range or level that I'm looking at for a rebound, at least a relief rally. And if we take 630 out, the big question is where could we go next? I mean, there's a wide open gap down to 580, 575. And that's kind of where we chopped around at at the end of last year, 2025. Look, the range is right here. We hit, like I said, 630 on the on the resistance. That's where we were struggling to break out for two months. And support held at about 580, 590, 575. We actually hit 555. Um that was well early this year but really the end of 2025 heading into early this year we were chopping around in this range. This is where I think we'll see the first line of defense buyers come in at 630. Then if that if we get a flush through that I mean this could go down potentially another 5% 6 7% and that could put us down about 25% overall or 20 to 25% and that's really where the bottom could be. We'll see though. I think we're going to get a rebound relief rally before we get all the way down on 580 on to 580 on the Q600 if we even get there. Uh but the charts are showing we have a falling knife and there could be a little more downside to go before we really, you know, start to see that relief. But then again, no one really knows for sure. Like I said before, today could have been the capitulation day. Um we rebound like crazy. Maybe after the labor market report on Friday, that's a big catalyst here. Maybe we get some decent news there, which decent news for the stock market is a weak labor report, right? You know, that that would that'd be good from the the the rates standpoint and what the Fed's going to do next. But for the economy, obviously, we'd want a a strong labor report, a labor market report. But we're looking at the stock market here, guys. The reality is we want the market to be weak. Um, so the Fed has less incentive to really hike rates. Uh, but either way, man, what a day for stocks. What a day for stocks. It wasn't just memory down a lot. The Neoclouds got demolished. Nebus went down 16%. Coreweave went down a bunch. And these companies have earnings in the next couple of days slash the next week to 10 days. Uh, we have Cororeweave in 5 days. I'm pretty sure Nebius is next Thursday on the 12th. So, that potentially could turn things around, but but with this market, man, who the heck knows? We're not in a great environment for a rebound post earnings. I doubt anything crazy will happen post earnings, but I'm paying attention to the fundamentals either way. Stock price action aside, uh, let's see what other names move today. We had Nvidia down to 10% in the red at close pretty much. It closed at 180. I also nibbled some more Nvidia today. Nothing crazy. AMD is down to $400, guys. Down 18%. Um that I mean that is just unreal. It's down to 400. It's it's pretty much giving back all the gains since at this point the beginning of May like a lot of these that are taking out the July lows. We have stocks like Broadcom today going down 10 and a half% multimonth lows for Broadcom. This is pretty much back to the lows from the end of March. I mean, Broadcom's chart looks scary here. I'm not going to lie, guys. We're at the lows of the year right now. Um, I mean, this is crazy. We're at 290, which is where we were on the 30th of March. And if 290 breaks, if 290 breaks, I mean, this chart showing us we could be going down to 230, 40, 50 range, that range, which implies a lot more downside. I think the 180 SMA on this three-year chart is a big line of defense and the highs from uh you know the end of 2024 being about 250ish. Um that's a big support. So I think that's where Broadcom could bounce. But we have $30 $40 more to go until we get there. And let me see Nvidia's threeyear really quickly. Um yeah, Nvidia's big line of defense I would say is where it's at now. 170 to 180. Uh that's really where we chopped around in the back half of 25 heading into early on this year. So if we take that level out or that range out uh 170 to 180, if we really get under 170, guys, that would not be good for Nvidia chartwise. Uh maybe we go back to the midunds at that point. That could be possible, which I'm not going to lie, I am not going to love that considering it's my biggest um stock holding. But then again, we got to go through um the, you know, we we got to get over and fight through the emotional side of investing, which we're all humans. We can say, "Oh, we never use our emotions and investing." That's a bunch of BS. Sometimes, you know, the emotions get involved. Go it going to 150 would suck. But you got to get yourself in that mindset of long-term. And and I don't think it's going to go to 150 necessarily, but that is a big level on this three-year chart. If 170 breaks, uh, which Nvidia's got earnings coming up on the what, 17th, so less than two weeks from now, we're getting their earnings. So big movers, man. And barely any stock I had. Um, at least in my portfolio went up. I mean, a couple stocks are holding up well. Uh, Next Era Energy is doing pretty well right now. Obviously, the S&P 500 ETF, that's holding up. Couple other names. Toast is actually holding up pretty good. Uh, Marcato Libre was holding up good until it got squashed post earnings, which we're not going to talk too much about in this video. But at this point, guys, like I said in the last video, you can't be messing with these stocks with money you need in a couple weeks and months. I'm going to wrap it up here. You can't mess mess around in this market and take on a bunch of risk if you need this money soon. You got to have your high interest debt paid off. You got to have your savings account or accounts right in order. If you're if you're trading in this market, you got to be careful. It's a good traders market. Uh but you know, you got to be on the right side of the trade if that's the way you're playing it. So, you got to kind of know your role in a will in a way. Uh what you're doing and what the objective is based on your style of trading and investing and just just roll with the punches. That's where I'm at in this market, man. And um I do think it's a good time to add. And I do have a couple stocks. I'm looking to make a video here, guys, about stocks that aren't super involved in the Texas AI buildout. Maybe a little more niche of a video there. But there are a couple stocks I'm watching that potentially could do well if we really do get legislation and regulations slam down on these Texas uh data centers. and if things really start slowing down out there in Texas. Um, you know, I have a couple stocks that I'm looking at that might actually benefit uh well from that, you know. So, let me know in the comments if you want me to make that video, but I don't want to ramble too much here. We're going to wrap it up. Blood bath for the market. Uh, but, you know, now's a good time again to deploy if you have the stomach for it and you have time to wait and you don't need the money. That's kind of the moral of the story here. And I added more Google uh what is it? Nvidia today and I added a little more SanDisk and that's where I'm at. Better days are coming guys, but not today. Today was rough and it's all part of being an investor, a trader in the market. We got to get used to it, right? It's uh we're going to have a lot more days like today throughout our lifetime, you know. So, hit the like button, subscribe if you want to be a part of the Patreon and see my trades, how we're navigating this market, um, and the the private Discord, that's all linked down below in the comments, in the bio, or go to stocksurfast.comreon. I'll see you guys in the next video. Have a great rest of your day or night. Peace out.