Take a look at CIEN and PD today, dropped right back into pre-COVID trading range.
Appears the zero interest rate pump is finally over, we can finally start looking for stocks to short on earnings . Look for stocks that have melted up but don't have the earnings to back it up.
Expect a lot of stocks to drop to pre-COVID levels. Not all tech stocks though, COVID has changed the way some companies do business. Certainly there will be more video conferencing and working from home even after a vaccine comes out, and PPE sales will be higher than pre-COVID levels, etc. But I think the parabolic trajectory is over.