It's All About Intense Rotational Plays Now: 3-Minutes MLIV
Speakers
Ven Ram
— Markets Live Reporter/Strategist, Bloomberg
Summary
Ven Ram breaks down the intense rotational plays driving market action: the Korean selloff is a concentrated Samsung/SK Hynix leveraged-ETF problem, US equities should decouple, chasing those Korean memory names is extremely risky, and gold faces further downside as it remains overvalued versus CPI.
- Korean market weakness is mainly about Samsung and SK Hynix and heavy single-stock ETF leverage.
- US stocks are expected to decouple from Korea's idiosyncratic problems.
- Smart money is rotating rapidly, making Korean memory makers a dangerous late chase.
- Gold has fallen 30% from its January peak and may drop to the 2,800–2,600 area.
- Gold trades as though US CPI were already at 2030 levels, leaving air beneath the price.
- Bitcoin also lost half its value as part of the same rotational unwind.
Ideas
US equities decouple from Korea
US stocks will decouple from the brutal meltdown in South Korea. The Korean selloff is mainly about two names (Samsung and SK Hynix) and the immense leverage in single-stock ETFs, making it an idiosyncratic problem that should not drag US equities lower for long.
Avoid Samsung and SK Hynix
Investors should be very wary of chasing Samsung and SK Hynix now. These Korean memory makers are at the center of intense rotational plays, with smart money moving in and out at frightening speed and with huge leverage via single-stock ETFs, creating a dangerous musical-chairs environment where latecomers get hurt.
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This Bloomberg Markets video, published June 26, 2026, features Ven Ram discussing SPY, KS. 2 trade ideas extracted by AI with direction and confidence scoring.