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There’s nothing quite like watching the market throw a tantrum over headlines without thinking through the actual implications.
Google dropped news Wednesday about a breakthrough that reduces memory requirements for AI inference. Semiconductor stocks immediately took a punch in the face — which makes sense on the surface. Less memory needed means less demand for memory chips right?
But here’s where it gets interesting and frankly a little ridiculous…
I watched Micron Technology (MU) come back down as the market digested this news. That’s logical — Micron makes memory chips and Google’s announcement about reducing memory requirements for AI inference directly impacts its business model. Fair enough.
Then I noticed something that did not make any sense at all.
The Illogical Sell-Off in Storage Companies
Western Digital (WDC) and SanDisk (SNDK) got hammered too along with Seagate Technology (STX) even though these companies have nothing to do with inference memory. What’s weird is that SNDK and WDC didn’t have anything to do with memory for inference but the market still threw the baby out with the bath water.
Let me be clear about this — there’s a massive difference between inference memory and storage. Inference happens in real time requiring fast access memory. Storage is where you keep the data long term. They’re completely different parts of the technology stack.
But the market didn’t care about those details. It was classic panic selling across anything remotely connected to the sector. When traders bail first and think later, it creates distortions that have nothing to do with fundamentals.
This is exactly the kind of market inefficiency that creates opportunities if you’re paying attention.
What the Charts Are Telling Me Now
Looking at the technical picture ASML (ASML) and a lot of the big tech stocks look like they need to flush back down, which of course we saw Thursday and Friday. That’s part of the normal correction process we have been tracking.
But here’s what caught my eye: Those storage stock charts — WDC, SNDK and STX — all look like they’re coming back to the Market Roadmap line before going higher. They all look pretty much the same, so here’s STX…
The market overreacted and created a pullback in stocks that were not actually impacted by the news, and now those same charts are setting up for potential rebounds back to their established trend lines.
This is why I always say you need to understand what you’re actually trading. When the market panics and sells everything in a sector, it’s worth asking whether the selling makes logical sense — or whether it is just algorithmic trading and headline-chasing creating noise.
The storage companies will be on my watchlist as they approach those Roadmap levels for a potential bounce.
Because sometimes the market’s irrational moments create the best setups.
Jeffry Turnmire
Jeffry Turnmire Trading
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I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader.
I’ve been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it’s the Eagle Scout in me.
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
P.S. I’m Bringing the Cavalry at Noon ET TODAY
I made sure to wrap up everything else I scheduled for the weekend, and today at noon, I’m going live with Publisher Nate for one purpose only…
We’ll hand over the details of my 5-Year Income Challenge to everyone who shows up LIVE.
I already spent the last year making sure the strategy was ironclad, and the overall goal is to repeat this every year for the next 4 years.
And if you tune in with us, I’ll show you:
- The No. 1 factor holding folks back from growing their account
- The historical statistical edge that makes my jaw-dropping 5-Year Income Challenge possible
- How a little move by the CBOE in 2022 incidentally supercharged how quickly an account can grow
- The ONE trade you can place every day to target extra cash
PLUS: My secret hack to day trading — without getting dinged. It’s how I’m able to do this no problem even with a small account.
Granted, I can’t make trading guarantees here…
But you’d be doing yourself a disservice if you haven’t saved your seat for today’s reveal.
There’s still time to do so…
