STOCKS JUMP ON IRAN, CHINA, AND BITCOIN HOPIUM — BUT THE BIG CONFLICTS HAVE NOT GONE AWAY
By Nigam Arora
To gain an edge, this is what you need to know today.
Buying On Hopium
Please click here for a chart of leveraged semiconductor ETF (SOXL).
Note the following:
- Semiconductors reflect the AI trade, and SOXL is the momo crowd’s favorite.
- The chart shows SOXL bounced above the top band of zone 3 (support) on Friday due to triple witching buying. Friday also saw aggressive call buying in several semiconductor stocks including Sandisk (SNDK) and Micron (MU).
- The chart shows SOXL is jumping again in the early trade on very aggressive buying.
- There is very aggressive buying in the stock market this morning, especially in the AI trade.
September 21, 2026