The SMH Is Up 53% Year to Date, Even if It Was Down Today

I wouldn't be surprised if we see some more weakness continue here, but I do think the fundamental thesis, nothing has changed at all. If you pull back from where the charts have been, there's still a lot of downside, but I'm hanging in for the long term. Pullbacks are not likely to stop after one day. One should just consider this. Since June 1st, the Russell 3000 has almost tripled the performance of the Socks. The Russell 2000, excuse me, small caps. So it's just a function of big names struggling here.