Semis Overbought After Rally; Nvidia Nears $200 Support in Pullback Warning

Semiconductor stocks sit extremely overbought after the iShares Semiconductor ETF's 42% one-month surge following a 16% March drop, heightening pullback risks. Michael Burry is positioning against the sector with bearish put options struck around $330, anticipating a major decline. Nvidia has risen more modestly at ~10% recently, trading near $200 support as a potential buy-on-dip candidate, while Micron and AMD have rocketed 66% and 74%. Warnings highlight 30%-50% corrections possible for hotter names, urging caution over chasing the rally.