Memory Stocks Crack, Banks Take the Stage: My October 13 Game Plan

The first thing on my screen this morning was the hard selloff in memory shares. Chinese producer CXMT unveiled a denser component design over the weekend; fitting more memory on one part means both rising supply and softer buying need. Yahoo records show Micron closed near $998 , down about 3% . My read: years of rich profit margins invited new players to the table, and now the same table feels crowded.

Selling spread across the whole memory shelf. TradingKey records show SanDisk down over 7% , Micron 4.7%, Seagate 3.2% and Western Digital 2.4%. In Korea, Samsung and SK Hynix each fell more than 7% during the day. To me this says one headline painted the full shelf one color. On days like this my first question is simple: did selling hit everyone fairly, or did solid shares stay cheap?

Hard Selling in Memory Shares

The scene reminds me of a flour shelf in a corner shop: once one bakery sells flour cheap, every bakery nearby must cut prices. The CXMT 4F square design can shrink cell area by about 30%; more output per wafer lowers unit cost. Near term this squeezes rival margins and prices. But samples and volume output sit worlds apart; customer approval and yield figures are still missing.

The split across the board looks striking. SP 500 futures finished only 0.1% lower while Nasdaq futures fell 0.8% , with talk of a 250-point drop at the open. So selling never went broad: the AI corner took the beating while the rest of the board stood firm. My 8000 target for the SP 500 stays; funds never sit in cash, they shift money into beaten shares and property havens.

The bond side backed the share side. WSJ records put the 10-year yield at 5.19% , well below last week 24-year peak of 5.37%. Daily and weekly topping wicks had flagged the peak, and the market now plays that roadmap. First stop sits near 5%. Falling yields should let growth shares breathe; but the memory rout ran so hot that rate relief stayed in the shade all day.

Bank Results Take the Stage

Energy and metals painted a mixed picture. Brent eased toward $105 while gold held firm near $4,193 and silver followed at $60.63 . The $88.75 oil line still rules my map; above it the upward tilt stays. Natural gas buyers defend their line on each touch, and I expect a break toward $3.50 within a week. Silver keeps $50 on my bingo card; a firm break opens the road there.

Crypto saw a sharp night flush. CoinDesk records show Bitcoin dipped under $81,000 before climbing back above $83,000 , with $814 million in positions closed in 24 hours. My map marks $81,000 to $87,200 as the chop zone: below sits $75,500, above opens $95,000 to $97,000. Price now clings to the lower band; hasty hands get sawn, patient ones wait for the line.

Bank results formed the second act of the morning. CNBC records show JPMorgan earned $5.57 per share against a $5.90 bar, with revenue of $50.91B against $51.22B hoped for; still, rate income guidance rose to $106.2B . Goldman lived the opposite day: $17.01 per share crushed the $13.02 bar, revenue of $18.68B beat the $16.71B call. Share trading income jumped 72% to $6.44B . Same street, two moods: one careful, one joyful.

Two heavyweights shared the drug and insurance stage the same morning. JNJ disclosed third quarter sales of $25.4B , up 5.9%, with adjusted per-share profit of $2.59 ; yearly sales guidance rose to $101.2B and per-share profit guidance to $11.10 . UnitedHealthGroup records show quarter revenue of $112.7B and adjusted per-share profit of $4.69 , with the yearly bar raised to at least $20.50 . My day level on the drug side is $251 , the swing level $247 ; the insurer jumped from $378 toward $394 with resistance at $405 to $406 , then $415 .

Crypto and Metals Front

The most concrete part is the trade levels. On SanDisk , long run line support sits near $1,300 with a $1,275 gap to fill; Micron broke its line yesterday, with an $926 gap for the bold and $905 as the firm stop. Marvell support spans $240 to $241 . Rotation stories feature two names: Nike sprinted from $31 toward $36, I banked my gain and will look again on a pullback. Clorox lifted off long run support with a bottoming wick, target $87.75 . Money never vanishes, it moves; watching where it goes is enough.