Beats sold, tech leads lower

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The story: beats sold, tech leads lower Beats sold, tech leads lower. The Nasdaq-100 fund is down 2.89% at 2:07 PM ET, twice the S&P 500 fund's drop, and 3 big chip and tech reporters beat and all trade lower.

The brief What: A broad down day with tech in back. At 2:07 PM ET the Nasdaq-100 fund is down 2.89%, the S&P 500 fund 1.42% and the Dow fund 0.21%, and the VIX is up 14.75%. Only about 15% of the names in our coverage universe are up on the day. Why: Last night's beats did not hold. 3 big chip and tech reporters beat, and all trade lower; chip and memory names slid with them. Oil is up 2.91% and gold is down 2.11%. When: After today's close: 2 big reporters. Friday 9:45 AM ET: flash factory and services surveys. The Fed decides Wed Oct 28.

Macro strip S&P 500 fund −1.42% · Nasdaq-100 fund −2.89% · Dow fund −0.21% · VIX +14.75% · Oil +2.91% · Dollar −0.18% · Gold −2.11% · Bitcoin −3.60%

The market story in plain words Tech gave back Wednesday's rally and more. The Nasdaq-100 fund is down 2.89% at 2:07 PM ET, while the Dow fund is off only 0.21%. A beat was not enough. 3 big chip and tech reporters beat last night, and all trade lower. Fear came back. The VIX is up 14.75% and oil is up 2.91%, a heavier backdrop than Wednesday's relief rally.

Market health

GAUGE

READING

NOTE

VIX

+14.75% on the day

As of 2:07 PM ET; volatility rising

Up vs down in our names

About 15% up · 85% down

At 2:07 PM ET

Next catalyst

After the close

After today's close: 2 big reporters

• Translation: selling is broad, not just a few names, and fear is rising into the close.

Breadth in our universe 49.0% of the names in our universe closed Wednesday above their 50-day average. The other 51.0% closed below it.

Earnings beats and misses

REPORTER

RESULT

Big chip and tech reporter 1

Beat by 8.3%

Big chip and tech reporter 2

Beat by 2.8%

Big chip and tech reporter 3

Beat by 0.9%

3 big chip and tech reporters beat, and all trade lower. Earnings per share, company-confirmed.

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The question into the close This morning we asked: does the S&P 500 close today above its 50-day average? It closed Wednesday above it, and the S&P 500 fund is down 1.42% at 2:07 PM ET, so it is on track for no. The official answer comes at the 4 PM close and prints in Friday's morning edition.

Print quote of the day “The real key to making money in stocks is not to get scared out of them.” — Peter Lynch, Beating the Street (1993)

WHY IT FITS: Good earnings, red tape. A broad red afternoon is when the urge to bail is strongest; know what moved, and why, before reacting.

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Join on the Pro page. For research and education purposes only. May contain typos. Prices may be delayed depending on when the data was collected. © 2026 The Degenerates Journal. All rights reserved.

Position disclosure — checked November 8, 2026: of the names covered in this edition, the desk currently holds none. The desk’s current position book (QCOM · AVGO · TSLA · GOOGL · SNDK · MU) prints in the open in the current editions; see Methodology & Disclosures.

For research and education purposes only. Not financial advice.