Tech Got Wrecked

Happy Monday folks!

Friday was tough. 

Tech got wrecked. And I wiped my slate clean. 

My hunch is that the tech selloff (led by semis + memory) is not over yet. 

So for now - tech is “hands off.”

Here's the weekly S&P 500 heat map.

There’s always relative strength somewhere and a few industrial names have become attractive…

V2X is a Virginia-based defense services and logistics contractor growing revenue +23% YoY. 

$VVX closed Friday’s session at an all-time high. Since its May 4th earnings report, the stock is up ~20%. 

Rolls-Royce - not the automaker, but the jet engine manufacturer - has also piqued my interest. 

Let’s first check out the monthly chart. 

$RYCEY rallied +1,105% in a span of 3 years. The stock gapped up following its February 2023 earnings report, and continued to drift up until early-2026. 

The sideways action on display is a digestion of gains. 

If $RYCEY is above 18, the path of least resistance is to the upside. 

I still do like Ondas - it’s one of the most interesting growth stories I’ve ever witnessed, but I want to see how the tech names flush out. 

I will be involved if / when $ONDS breaks above 14 // 15 on its all-time high pursuit. 

It’s a great time to step away from the desk and enjoy Summer.

Godspeed.

PS - we postponed Friday’s flight. Stay tuned.