SoftBank is the “Nasdaq whale” that has bought billions of dollars’ worth of US equity derivatives in a move that stoked the fevered rally in big tech stocks before a sharp pullback on Thursday, according to people familiar with the matter.
The Japanese conglomerate has been snapping up options in tech stocks during the past month in huge amounts, contributing to the largest trading volumes in contracts linked to individual companies in at least 10 years, these people said. One banker described it as a “dangerous” bet.
The investor behind that trade, according to people familiar with the matter, is Japan’s SoftBank9984 -3.21% Group Corp., which bought options tied to around $50 billion worth of individual tech stocks. Investors and analysts, aware of the activity but in the dark as to who is behind it, say it has turbocharged the tech sector, whose sheer size drives broader market moves.
Just to show why not to trust all the news source. They follow the market and provide a nice story, that is aimed at their own circulation.
Now , all the news/media publishes negative scary stories - after the fact.
Close TQQQ, SPXU and SQQQ at different times ofc - all profitable. UPRO is still red… got in too early and didn’t average down. This is day trading not intended to hold over weekend.
It’s interesting the unemployment data was better than expected. The economy is rebounding faster. That should make this dip very temporary.
However, the election complicates things and will create more volatility. The market peaked around this time before the last election. I expect we will get a surge in stocks perceived as winners after the election. The surge should last months, so there’s no need to be a hero guessing now.
Stay calm until the possible bottom is best course and I do it.
The only reliable information is the economy, market is supposed to be sync up with economy, but always overshoot or go way under. Both creates a mean reversion - with mean variable is economy.
Remember there was no reason for V-Shaped recovery and this week down fall. You are trying to reason for recovery.
All these will settle somewhere in middle and market jumps again near elections. Everything caused by market makers, big banks with billions of trading money.
The retail investors are really poor caught in the middle.
not intended to hold over weekend.
