cposelloff

$COHR 333.36 (-9.57%), $LITE 728.32 (-9.09%), $FN 499.61 (-8.69%) - the whole photonics trio got crushed Thursday, capping a -11% to -19% week. The buck weak at 100.91, yields easing at 4.489%. Macro says risk-on. So why's the supply chain getting dumped?

Saw this morning, three names down 10%+ in a week isn't normal rotation - that's positioning unwinding. The leader lost the 800 line hard. One of them broke 500. Coherent tested 325 support. All three swept their early-June lows.

My read: AI capex narrative cracked. The hyperscaler capex story that had the cohort near 1000 just two weeks ago is being repriced, fast. Whether this is positioning flush or thesis break, that's the real question.

Risk/R looks better here than a week ago - but I'm not buying the rip yet. Need to see 325 hold on Coherent or 700 reclaim on the leader before sizing up.

Watching the trio into Asia open Monday. If Coherent loses 325, I'm out. Few understand this setup. NFA, DYOR. Will update if this breaks.

#Photonics #CPOSelloff #Stocks