Joel Elconin – Market Correction: “Batten Down the Hatches”
In this KE Report daily editorial, Joel Elconin, co-host of Pre-Market Prep and founder of the Stock Trader Network, joins us to break down a broadly red market day marked by spiking volatility, tech weakness, and shifting expectations heading into year-end.
Key Discussion Highlights:
- Market Selloff Intensifies: VIX hits 25, risk assets slide, and tech leads the downturn.
- Nvidia Breakdown: NVDA’s failed 50% retracement signals deeper market weakness.
- Fed Cut Expectations Fade: December cut unlikely; lagging data adds uncertainty.
- AI & Labor Market Shift: Structural unemployment may rise as AI-driven job cuts accelerate.
- Where Money May Hide: Potential resilience in Walmart, utilities, healthcare, and financials.
- Longer-Term Tone: Caution warranted; market may be entering a multi-quarter grind.
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Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.
Another thing this time around it is much easier to spot a big market downturn than it was the three previous times because the pendulum has overswung like crazy to the positive side and the downturn will be just as sharp to the negative side. DT
I find this very interesting!!!!!!!! In 3 weeks Nvidia has lost more that $1 Trillion off its market cap.
Yesterday Nvidia came out with their earnings report after the market closed and the numbers beat expectations to the high side. Their CEO Jensen was crowing about how well the tech sector was doing. In the morning NVDA opened up $6 higher and at one point was up $10. But the market clearly didn’t think it was that great and by the end of the day Nvidia was down about $5.54 US.
I have lived through 3 market corrections and let me tell you this: you need to have some cash sitting in your trading account because when the next crash happens and it can’t be that far off, the forced selling will start. Everything and I mean everything will start tumbling like crazy. That is when you want to put in stink bids on your favorite stocks with a long time period and just watch what happens when the margin accounts start triggering in.
SANTA CLAUSE IS COMING TO TOWN!!!!!!!!! LOL! DT 🤣🤣🤣