As of Frida morning, Oracle had dropped 39% from its post-earnings high:<\/p>\n
BUT… Oracle staged a powerful rally on Friday to end the day green.<\/p>\n Trend change?<\/p>\n Who knows.<\/p>\n But for now, Oracle no longer has the ugliest chart in the world.<\/p>\n Full disclosure: I went long Oracle<\/strong> (ORCL) calls Thursday and got out the same day for a loss. So I completely missed the Friday rebound. My bottom-fishing grade for the week is an F-.<\/p>\n The major indices are just a few percentage points off their all-time highs, thanks to stability in the banks plus a few select index superheavyweights like Apple<\/strong> (AAPL).<\/p>\n But below the surface, things are quite nasty, especially for super-speculative growth stocks.<\/p>\n We've extensively covered the boom in low revenue, high valuation stocks like Oklo<\/strong> (OKLO) and IonQ<\/strong> (IONQ).<\/p>\n They are no longer flying high.<\/p>\n Many of these names have fallen more than 50% from their highs, like:<\/p>\n So based on these numbers… BMNR is the ugliest of them all:<\/p>\n The media loves to build up heroes and then tear them down.<\/p>\n It happened from 2000 to 2022 with Ark Invest's Cathie Wood, who heads up the iconic ARKK ETF.<\/p>\n The knives are about to come out for Fundstrat's Tom Lee, who has been the biggest public face of this equity and crypto bull market.<\/p>\n Lee is Chairman of crypto treasury name Bitmine Immersion Technologies<\/strong> (BMNR), which is cratering:<\/p>\n If this bull market is indeed done, Tom Lee will be the #1 scapegoat for people taking too much risk.<\/p>\n Crypto currencies like Bitcoin<\/strong> and Ethereum<\/strong> have also been taken to the woodshed.<\/p>\n One of the biggest stories of the week was Bitcoin breaking the $100,000 mark with authority.<\/p>\n And as you'd expect, related equities got smashed.<\/p>\n We took a 3-year lookback at Bitcoin vs. the artist formerly known as MicroStrategy – Michael Saylor's Strategy<\/strong> (MSTR):<\/p>\n MicroStrategy, I mean Strategy, used to trade at a massive premium to its underlying Bitcoin holdings.<\/p>\n And as such, Strategy has been playing massive downside catch-up to Bitcoin itself.<\/p>\n No mas.<\/p>\n The love story is over.<\/p>\n When Fed Chair Jerome Powell said a December rate cut is not guaranteed, the dovish mood soured fast.<\/p>\n Now the CME's FedWatch tool is pricing in a mere 43.6% chance of a December rate cut.<\/p>\n That's down from 66.9% last week, and 94.4% a month ago.<\/p>\n So if you've wondered why rate-sensitive speculative stocks have been slapped around, this is it.<\/p>\n Biotech and Health Care have lagged the major indices for years.<\/p>\n As traders and investors rotated out of tech and high-growth names, biotech and health care have shined in Q4:<\/p>\n Biotech<\/strong> (XBI) is up 16% while Health Care<\/strong> (XLV) popped 12%.<\/p>\n While SPY is barely green.<\/p>\n So Jim Cramer was right. There really is always a bull market somewhere.<\/p>\n The latest AAII Sentiment Survey shows that 31.6% of investors are bullish on stocks for the next 6 months.<\/p>\n This is well below the long-term average of 37.5%.<\/p>\n Meanwhile, bearish sentiment is at 49.1%. Investors have not been this bearish since September 10.<\/p>\n And it makes sense, with all the meltdowns we're seeing.<\/p>\n If things stay weak, sentiment still has plenty of room to deteriorate further.<\/p>\n The VIX is up in reaction to the rise in volatility.<\/p>\n But it's nowhere near extreme, like in April when we had the big post-Liberation Day tariff meltdown.<\/p>\n And the VIX isn't even close to the peak in mid-October, when regional bank worries were at the forefront:<\/p>\n![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-14-at-9.32.37-AM.png\")
<\/a><\/p>\n2. But Oracle Has Competition…<\/strong><\/h2>\n
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3. Expect an Assault on Tom Lee, Owner of the Ugliest Chart in the World<\/strong><\/h2>\n
![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-14-at-9.46.39-AM.png\")
<\/a><\/p>\n4. Remember Microstrategy<\/strong><\/h2>\n
![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-14-at-9.39.05-AM.png\")
<\/a><\/p>\n5. Fed, Schmed<\/strong><\/h2>\n
![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-14-at-12.10.11-PM.png\")
<\/a><\/p>\n6. Biotech and Health Care Have RULED<\/strong><\/h2>\n
![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-14-at-9.48.47-AM.png\")
<\/a><\/p>\n7. Sentiment Has Shifted Bearish<\/h2>\n
![\"Image\"](\"https:\/\/pbs.twimg.com\/media\/G5o4H73XsAA72sq?format=png&name=900x900\")
8. The VIX Is Nowhere Near Extreme<\/strong><\/h2>\n
![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-14-at-10.09.54-AM.png\")
<\/a><\/p>\n![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2025\/11\/Screenshot-2025-11-14-at-11.59.36-AM.png\")
<\/a><\/p>\n