To The Moon

NVIDIA (NVDA) is in a corrective consolidation inside a still-intact longer-term uptrend. The stock is roughly 12% below its 2026-10-06 record high of $243.37, and the debate is not about demand but about how much of the AI capex cycle is already priced in at a ~$5.15T market cap.

Alphabet fell more than 12% in one day, and several technology heavyweights are 20%-30% below their 2026 closing highs. That has brought the familiar buying-the-dip question back into focus. Tiger's view: It is reasonable to start screening profitable companies after these pullbacks, but there is not enough evidence to declare a bottom across technology stocks. Prices, earnings and cash flow need to be assessed together—and historical recoveries show why the time horizon matters. 01 | Stock-level selloffs and index drawdowns differ On October 29, the Nasdaq Composite closed at 26,184.72, down 1.38%. The Nasdaq-100 fell 1.38%, while the S&P 500 lost 0.30%. GOOGL dropped 12.64%, Amazon fell 4.25%, Microsoft slipped just 0.16%, and Meta rose 1.96%. The performance was sharply divided. [1]

Tech was getting hammered. Amazon fell. Intel collapsed. AI names were under pressure. And then a shoe company suddenly exploded almost 25% higher. Crocs. The easy conclusion is: “Money is rotating from tech into consumer stocks.” I don't think that is what happened. In fact, Crocs management gave us an important warning: The low-end consumer is still weak. So why did CROX explode? Because I think the market is beginning to reward something very different: SELF-HELP. Crocs did not need the economy to suddenly become wonderful. It fixed the part of its own business investors had almost given up on. And that creates a much more interesting investment lesson than simply: Consumer stocks are back. 🔵 THE HEADLINE NUMBERS WERE GOOD Crocs delivered Q3 revenue of: $1.04B, +4.6% Adjusted EPS: $3.69

Alphabet fell more than 12% in one day, and several technology heavyweights are 20%-30% below their 2026 closing highs. That has brought the familiar buying-the-dip question back into focus. Tiger's view: It is reasonable to start screening profitable companies after these pullbacks, but there is not enough evidence to declare a bottom across technology stocks. Prices, earnings and cash flow need to be assessed together—and historical recoveries show why the time horizon matters. 01 | Stock-level selloffs and index drawdowns differ On October 29, the Nasdaq Composite closed at 26,184.72, down 1.38%. The Nasdaq-100 fell 1.38%, while the S&P 500 lost 0.30%. GOOGL dropped 12.64%, Amazon fell 4.25%, Microsoft slipped just 0.16%, and Meta rose 1.96%. The performance was sharply divided. [1]

Tech was getting hammered. Amazon fell. Intel collapsed. AI names were under pressure. And then a shoe company suddenly exploded almost 25% higher. Crocs. The easy conclusion is: “Money is rotating from tech into consumer stocks.” I don't think that is what happened. In fact, Crocs management gave us an important warning: The low-end consumer is still weak. So why did CROX explode? Because I think the market is beginning to reward something very different: SELF-HELP. Crocs did not need the economy to suddenly become wonderful. It fixed the part of its own business investors had almost given up on. And that creates a much more interesting investment lesson than simply: Consumer stocks are back. 🔵 THE HEADLINE NUMBERS WERE GOOD Crocs delivered Q3 revenue of: $1.04B, +4.6% Adjusted EPS: $3.69

NVIDIA (NVDA) is in a corrective consolidation inside a still-intact longer-term uptrend. The stock is roughly 12% below its 2026-10-06 record high of $243.37, and the debate is not about demand but about how much of the AI capex cycle is already priced in at a ~$5.15T market cap.