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TME with the charts.
Upside Panic Everywhere
The upside chase in tech is becoming increasingly extreme. China tech is now starting to squeeze aggressively higher just as investors continue piling into NDX upside optionality and leveraged semiconductor exposure. Spot-up, vol-up dynamics remain firmly in place, downside hedging has become unusually cheap, and positioning across tech continues pushing toward historic extremes.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.