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Investors / stance tracking

What Joe Terranova (Virtus) is saying

Chief market strategist, Virtus

70 dated public stances tracked since 2021-05-05, most recently 2026-09-01. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.

The stances below are c8alpha's editorial distillation of Joe Terranova (Virtus)'s public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Joe Terranova (Virtus) is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.

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70
tracked stances
50
themes
1
side flips
2026-09-01
last heard
Returns  90d +1.4% (n=37) · 180d -2.8% (n=33) · 1y +14.1% (n=16)

Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances.

View flips

Where the tracked view on a theme reversed between appearances — bullish to bearish or back. Dates are the episodes on each side of the turn.

SPOT — bullish2025-07-29 → bearish2025-12-29

Most-argued themes

ThemeStancesLeanMixLast
NVDA66 bullish2026-08-12
Big Tech32 bullish / 1 neutral2025-12-29
CRWD22 bullish2026-07-22
ENERGY22 bullish2026-08-11
GOLD22 bullish2026-01-12
SILVER22 bullish2026-01-12

Tracked stances

bullish / bearish is a view they argued; owns / short is a position they said they hold.

2026-09-01 HIGH BETA MOMENTUM / SEMICONDUCTORS bullish CNBC Fast Money Final Trade · video
Bearish sentiment is beginning to turn, which is historically the contrarian signal that marks a near-term bottom for a factor; semis showing early intraday strength (Micron up) confirms the momentum factor is setting up for a recovery rebound after 51+ days…
“Watch the semis. The semis are showing a little bit of strength here.”
The September setup: The Investment Committee's strategy
2026-08-19 HOOD bullish Tom Lee · video
Robinhood has matured beyond a crypto proxy into a real financial services company with 32% revenue growth, 48% EPS growth, and the next generation of investors embedded in its ecosystem
“I just believe in Vlad. I believe in this company”
Tom Lee's top core stock ideas: Avoid Robinhood in 2026
2026-08-19 ANET bullish Tom Lee · video
Arista is a core holding participating in AI networking with accelerating revenue growth that has continued to perform well over a long holding period
“the revenue growth is accelerating”
Tom Lee's top core stock ideas: Avoid Robinhood in 2026
2026-08-18 LLY bullish CNBC Halftime Final Trades · video
Eli Lilly's price action is technically positioned to break out to a new all-time high imminently, offering a momentum entry ahead of the move
“Eli Lily about to make a new alltime high. That's what I see in front of it”
TOM LEE'S NEW PREDICTIONS FOLLOWED BY HALF TIME AND ICHIMOKU ANALYSIS 08/18
2026-08-18 long CME / long ICE / long NDAQ basket CNBC Halftime Final Trades · video
Exchange stocks directly monetize the volatility and elevated trading volumes triggered by the global bond selloff, making them the immediate tactical beneficiary of a yield-driven rotation day
“I want to own the exchanges. I want to look at your CME. I want to look at your ICE. I want to look at your NASDAQ.”
TOM LEE'S NEW PREDICTIONS FOLLOWED BY HALF TIME AND ICHIMOKU ANALYSIS 08/18
2026-08-12 NVDA bullish CNBC Halftime Committee · video
NVIDIA earnings in two weeks expected to show 96% revenue growth (best in 12 months), 114% earnings growth, $47B free cash flow, and a guide to $100B revenue next quarter, driving the stock toward the prior $236 high
“I think we are working ourselves up towards that previous high at 236 for sure”
Positioning for Big Tech's next move
2026-08-11 NVDA bullish CNBC Halftime Final Trades · video
Nvidia is tracing a breakout pattern similar to Apple's months ago, with new institutional-grade momentum building as alpha-seekers rotate into it while Apple's momentum fades under strong fundamental macro conditions
“I think the stock is in the midst of a breakout”
APPLE STOCK DOWNGRADED! (08/10) CNBC HALFTIME CLIPS + Technical Analysis by Blue Cloud Trading
2026-08-11 ENERGY bullish CNBC Halftime Final Trades · video
Positioning stepped away from energy, creating a near-term alpha generation opportunity as capital rotates back in — evidenced by energy ETFs leading all 11 SPDR sectors in volume that session
“the alpha generation opportunity might just be in energy in the near term because of a lot of positioning stepped away from it”
APPLE STOCK DOWNGRADED! (08/10) CNBC HALFTIME CLIPS + Technical Analysis by Blue Cloud Trading
2026-08-11 ZM bullish CNBC Halftime Final Trades · video
Zoom's partnership with Anthropic makes its upward momentum trustworthy unlike the broader software rally, and positions it advantageously ahead of expected AI-era IPOs from Anthropic, Databricks, and OpenAI
“I trust the move in Zoom communications, which has the relationship with Anthropic”
APPLE STOCK DOWNGRADED! (08/10) CNBC HALFTIME CLIPS + Technical Analysis by Blue Cloud Trading
2026-07-28 RJF bullish CNBC Halftime Final Trades · video
Raymond James is an asset manager that has sat out the recent run and therefore offers catch-up potential relative to peers
“It's an example of an asset manager that's kind of sat out the last”
Final Trades: Netflix, Quanta Services and Raymond James
2026-07-27 NVDA bullish CNBC Halftime Final Trades · video
Nvidia is rebuilding momentum off June lows with the 200-day MA (~$192.50) acting as key support, but the recent rally has been neutralized and the position warrants a stop below $192
“I will neutralize those positions with a break below 192”
CNBC halftime report 27th July 207 featuring Nvidia Apple Micron
2026-07-27 long VLO / long PSX / long MPC basket CNBC Halftime Final Trades · video
Refiners (Valero, Phillips 66, Marathon) offer secular fundamental strength because jet fuel and reformulated gasoline price appreciation from Middle East tensions flows directly to refiner margins regardless of the broader energy tape's direction, without…
“I think where you find the secular fundamental strength is in the refiner trade”
CNBC halftime report 27th July 207 featuring Nvidia Apple Micron
2026-07-22 MSFT owns CNBC Halftime Committee · video
Microsoft is showing relative outperformance within software in July, which Joe reads as a bottoming signal underpinned by its overwhelming balance sheet strength.
“if you are a Microsoft shareholder, as I am, maybe that's a signal that it's bottoming based on the nature of its overwhelming balance sheet”
Committee stocks on the move: GE Vernova and Crowdstrike
2026-07-22 GEV bullish CNBC Halftime Committee · video
Guidance was disappointing and EBITDA margins were flat at a near-80x EBITDA valuation, so the stock deserved the pullback, though the backlog should eventually convert to strong free cash flow.
“I'm not adding it here... will their backlog ever turn into actual cash flow? I believe it will”
Committee stocks on the move: GE Vernova and Crowdstrike
2026-07-22 CRWD bullish CNBC Halftime Committee · video
CTOs view cybersecurity spending as non-negotiable even as AI disrupts SaaS pricing, because enterprises must have security as they move deeper into cloud infrastructure.
“we are going to pay that price because we are moving more and more into an environment where you need to have as an enterprise that security”
Committee stocks on the move: GE Vernova and Crowdstrike
2026-07-08 NVDA bullish CNBC Halftime Final Trades · video
Nvidia will prove through upcoming earnings and results that the 'Lag 7' narrative is wrong and will reassert leadership within the Magnificent 7
“Nvidia is going to prove that lag seven moniker is wrong”
Software and cloud computing names have strong growth scenarios, says ETF Action's Mike Akins
2026-07-08 DAL bullish CNBC Halftime Final Trades · video
Demand for Delta and United is remarkably strong and Spirit's shutdown has transferred meaningful market share to both carriers, reinforcing the holding
“the spike in jet fuel probably led to the spirit situation and that benefited the market share of both Delta and United tremendously”
Software and cloud computing names have strong growth scenarios, says ETF Action's Mike Akins
2026-07-06 SEMICONDUCTORS AND MEMORY NAMES neutral CNBC Television · video
Today's chip rally is a technical rebound not yet proven sustainable, as systematic and quant funds are actively deleveraging and reducing tech exposure significantly, which will generate elevated volatility
“What you're seeing today is nothing more than a rebound. I think it has to prove itself out.”
Market Midday: Stocks Mixed, Chip Stocks Pop, President Trump Touts Dell At White House  7/6/26
2026-07-01 MAG SEVEN BASKET bullish CNBC Halftime Final Trades · video
Mag Seven stocks have been YTD underperformers relative to the broader market, creating a rotation opportunity now that they are absorbing capital flows rotating out of semis
“the opportunity lies in where the underperformance ultimately has been in '26”
The second half setup for stocks
2026-06-29 USTS bullish CNBC Halftime Final Trades · video
Oil falling back to $70 will flow through to CPI prints, giving the Fed no justification to hike; yields have already peaked for this cycle
“I think the high is in for yields”
'Halftime' traders debate the market setup for the next half of 2026
2026-06-25 MU bullish Tom Lee · video
Memory has shifted from cyclical commodity to irreplaceable AI resource — Micron secured 16 strategic customer agreements through 2029 with pricing it controls, making supply/demand dynamics structurally different from prior cycles
“This is a paradigm shift where they literally are controlling pricing on their own because they have the irreplaceable resource”
CNBC HOST GRILLS TOM LEE (06/25) Stock Market Analysis by Blue Cloud Trading
2026-06-18 XBI bullish CNBC Halftime Final Trades · video
Middle East conflict resolution is catalyzing a market broadening rotation back into healthcare/biotech, with XBI breaking out cleanly above $140 resistance and room to $180
“it's a pure breakout above 140”
How to trade the SpaceX dip
2026-06-18 VIRT bullish CNBC Halftime Final Trades · video
Virtu Financial is the only publicly traded vehicle to capture Jane Street-style HFT and market-making returns, which are substantial, and remains undervalued relative to that private-market comp
“Virtu Financial is the only way to get that exposure”
How to trade the SpaceX dip
2026-06-18 GS owns CNBC Halftime Final Trades · video
Goldman has successfully refocused on its highest-return businesses (trading and M&A advisory) under Solomon, making it the primary beneficiary of a record capital markets cycle including SpaceX and expected Anthropic/OpenAI IPOs
“Goldman Sachs has shattered deal making records”
How to trade the SpaceX dip
2026-06-18 CME bullish CNBC Halftime Final Trades · video
CME has a durable franchise built over 24 years and the incoming CEO Lynn Fitzpatrick is well-positioned to navigate structural questions around 24/7 trading and perpetual futures
“I trust Lynn's ability to answer these critical questions”
How to trade the SpaceX dip
2026-04-01 TER bullish CNBC Halftime Final Trades · video
Heavy semiconductor industry CapEx spending is directly benefiting equipment names like Teradyne
“A lot of CapEx going on in the semiconductor industry, semiconductor equipment names benefiting from that”
90d +55.0%
Final Trades: FTAI Aviation, Ethan Allen, Teradyne and the QQQ
2026-03-23 OIL bearish CNBC Halftime Final Trades · video
Trump's political calculus — midterm election risk and consumer pain from high energy costs — functions as a put on oil prices, signaling he will not tolerate oil staying above $100/barrel.
“he is not going to allow oil to stay at $100 plus per barrel”
90d -1.9%
Stocks surge on reported Iran talks: How to trade it
2026-03-23 US 10-YEAR YIELDS bearish CNBC Halftime Final Trades · video
The recent spike in yields is a dislocation — the market's pricing of a rate hike is misguided, making rate-sensitive equities that sold off with rising yields a buying opportunity.
“I think this is a tremendous opportunity. I think yields are going to push lower”
Stocks surge on reported Iran talks: How to trade it
2026-03-18 long CME / long ICE / long IBKR basket CNBC Halftime Final Trades · video
Exchange companies CME, ICE, and Interactive Brokers are trading well despite AI disruption fears about the index business and offer a rotation opportunity within the financial sector's 15% S&P weighting as bank names stall
90d +3.8%
POWELL PAUSES! Stock Market Drops Today + CNBC Halftime Report Stock Picks!
2026-03-18 long TRV / long ALL / long CB basket CNBC Halftime Final Trades · video
Insurance names Travelers, Allstate, and Chubb paused in 2025 when capital rotated to private credit and big banks, and are now working again as those sectors face headwinds, offering an available rotation within financials
90d +4.5%
POWELL PAUSES! Stock Market Drops Today + CNBC Halftime Report Stock Picks!
2026-01-21 NU owns CNBC Halftime Final Trades · video
Nu Holdings is a digital banking play in Latin America that is breaking out technically and is owned in the ETF
“digital banking in Latin America breaking out. We own in the ETF.”
90d -12.7% · 180d -18.9%
Final Trades: IBM, Alibaba, Nu Holdings and the IYH
2026-01-20 TBT bullish CNBC Halftime Final Trades · video
Buying the 2x inverse long-duration Treasury ETF as a portfolio hedge on the belief that long-end yields will rise further
“This is a final hedge. It's a hedge against the portfolio. Going to go buy the TBT on the belief that yields go higher.”
90d -1.7% · 180d +5.3%
Final Trades: Toast, Southern Company, the IGV and the TBT
2026-01-12 SILVER bullish CNBC Halftime Committee · video
Silver is rallying alongside gold as a precious metals hedge against political and monetary instability, with 8% same-day momentum confirming the move
“you're buying gold, you're buying silver, which is up another 8% today”
90d -11.6% · 180d -32.5%
The Investment Committee's Reaction to the DOJ investigation into Fed Chair Jerome Powell
2026-01-12 BABA bullish CNBC Halftime Final Trades · video
Alibaba is up 10% with momentum continuing; position managed with a $148 stop
“Up 10%. Use a 148 stop”
90d -23.0% · 180d -31.8%
Final Trades: Capital One, UnitedHealth, Regeneron and Alibaba
2026-01-12 GOLD bullish CNBC Halftime Committee · video
Precious metals are a paid hedge against Fed independence erosion and political instability at a time of unusually low volatility, making the hedge cheap to own
“you're able to hedge and get paid on it”
90d +3.1% · 180d -13.0%
The Investment Committee's Reaction to the DOJ investigation into Fed Chair Jerome Powell
2026-01-05 TWLO neutral CNBC Halftime Committee · video
Exited the position after buying at $131 on Dec 3 because the anticipated software-vs-semis mean reversion has clearly failed to materialize, with software showing no momentum to close the performance gap
“a clear struggle for software to gain any momentum to close the gap”
CNBC's 'Halftime Report' Investment Committee detail their 2026 market outlook
2026-01-05 RSP bullish CNBC Halftime Committee · video
Broadening-out narrative is rotating new-year capital into equal-weight S&P as the market finds opportunities beyond Mag 7 leadership, which benefits an equally-weighted position directly
“the market's going to find other opportunities elsewhere”
90d +0.1% · 180d +11.4%
CNBC's 'Halftime Report' Investment Committee detail their 2026 market outlook
2026-01-05 CRM bullish CNBC Halftime Committee · video
Salesforce is exhibiting measurable 30-day relative outperformance versus software peers (Okta, Palantir, ServiceNow), suggesting a building base that could support re-entry into the beaten-down software group
“maybe something's building where you could return to a position there”
90d -27.8% · 180d -35.0%
CNBC's 'Halftime Report' Investment Committee detail their 2026 market outlook
2025-12-31 HIGH-BETA / MOMENTUM NAMES bearish CNBC Halftime Committee · video
The 2025 momentum-and-high-beta leadership trade is unlikely to repeat in 2026 as monetary tailwinds fade globally, the earnings growth bar becomes harder to clear, and the market has already begun rotating defensively in Q4 2025
“I don't think you're going to see the type of policy action you saw universally in a globally coordinated effort”
'Halftime Report' Investment Committee talks positioning your portfolio for 2026
2025-12-31 CVNA neutral CNBC Halftime Committee · video
Carvana is maturing into its original thesis but the rapid price acceleration has left valuation a little rich, warranting tempered return expectations rather than adding exposure
“from the perspective of valuation is a little bit rich”
'Halftime Report' Investment Committee talks positioning your portfolio for 2026
2025-12-31 GOLD owns CNBC Halftime Committee · video
Multi-year bullish bias on precious metals is intact, but elevated near-term volatility and a parabolic Sunday price spike prompted a tactical trim of GLD to reduce risk while maintaining the structural long
“I rang the register on the GLD because of elevated volatility”
90d +8.6% · 180d -7.0%
'Halftime Report' Investment Committee talks positioning your portfolio for 2026
2025-12-29 VLO owns CNBC Halftime Final Trades · video
Valero is the last surviving leg of a five-month refiner trade that has performed well and still warrants holding while other refiner positions are wound down ahead of a sector rotation
“I'm maintaining one last position in Valero”
90d +52.0% · 180d +62.5%
Trade Tracker: Joe Terranova sells Phillips 66, Spotify and the GLD
2025-12-29 SPOT bearish CNBC Halftime Final Trades · video
Spotify has been in a technical downtrend since late June, failed to perform over a one-month hold window, and now faces a new competitive headwind from the Netflix-iHeart podcast deal
“Spotify has not worked. And Spotify is in a downtrend since the end of June”
90d +18.3% · 180d +20.5%
Trade Tracker: Joe Terranova sells Phillips 66, Spotify and the GLD
2025-12-29 ENERGY bullish CNBC Halftime Final Trades · video
Energy sector opportunities in 2026 are rotating away from refiners toward large-cap E&Ps, with Exxon already confirming the move by hitting 52-week highs
“We're seeing that right now with Exxon Mobile at a 52-week high”
90d +39.8% · 180d +21.7%
Trade Tracker: Joe Terranova sells Phillips 66, Spotify and the GLD
2025-12-29 SILVER bullish CNBC Halftime Final Trades · video
Gold's parabolic move followed by a dramatic overnight reversal on spiking volume signals near-term exhaustion in gold, making silver the better re-entry vehicle for the precious metals trade
“I'll probably make a return in silver because that is where the trading opportunity is”
90d -3.8% · 180d -20.2%
Trade Tracker: Joe Terranova sells Phillips 66, Spotify and the GLD
2025-12-29 Big Tech neutral CNBC Halftime Final Trades · video
Diamondback Energy is positioned to benefit as the energy sector's alpha shifts from refiners to E&Ps entering 2026
“other names like Diamondback that could work well”
Trade Tracker: Joe Terranova sells Phillips 66, Spotify and the GLD
2025-10-28 PYPL bullish CNBC Halftime Final Trades · video
New CEO Alex Chriss is engineering a corporate turnaround at PayPal
“PayPal CEO Alex Chriss is engineering a turnaround”
90d -22.3% · 180d -31.5%
Final Trades: Netflix, Vistra, Paypal and the QQQ
2025-10-01 COF bearish CNBC Halftime Final Trades · video
Consumer finance names are levered to a strong economy that is clearly deteriorating, with subprime auto delinquencies rising 9.3% and elevated loan losses, making them the 'boat to leave'
“the consumer-oriented finance names are reliant on the strength of the economy. And the economy is clearly right now deteriorating”
90d -14.7% · 180d +15.9%
'Halftime Report' team break down their Q4 investment strategies
2025-10-01 AIRLINES bearish CNBC Halftime Final Trades · video
Airlines are already pricing in reduced leisure travel demand as the economy contracts and a protracted government shutdown could push unemployment toward 4.7%, further pressuring discretionary travel
“Look at the airlines and the way the airlines are trading the last several days”
'Halftime Report' team break down their Q4 investment strategies
2025-10-01 HEALTHCARE SECTOR bullish CNBC Halftime Final Trades · video
Q4 rotation is underway from momentum/Fin-Five names into quality and healthcare as early signs of sector leadership change appear on the first day of Q4
“Healthcare coming back into play. Quality up as a factor. Momentum is lagging today.”
'Halftime Report' team break down their Q4 investment strategies
2025-10-01 SMALL-CAP EQUITIES bullish CNBC Halftime Final Trades · video
Q4 rotation is likely to extend into small-cap equities, repeating the pattern from the prior year as momentum fades and quality/rotation flows broaden
“It's probably even going to touch the small-cap equity size class similar to what the way that it did last year”
'Halftime Report' team break down their Q4 investment strategies
2025-10-01 long MAG SEVEN + HEALTHCARE QUALITY / short CONSUMER FINANCE / ECONOMY-SENSITIVE EQUITIES pair CNBC Halftime Final Trades · video
Rotate from economy-sensitive consumer finance names into Mag Seven and healthcare quality names, as decelerating growth punishes the former while defensive quality growth holds up
“In the new boat, you could put your Mag seven names. You could put uh some of the healthcare names, some of the quality names.”
'Halftime Report' team break down their Q4 investment strategies
2025-09-29 MS bullish CNBC Halftime Final Trades · video
Morgan Stanley's wealth management build-out differentiates it within the large-bank group and supports continued multiple expansion
“I like what Morgan Stanley is doing here with the wealth management”
90d +12.3% · 180d -0.6%
Final Trades: Leidos Holdings, Charles Schwab, Morgan Stanley and the ETHA
2025-09-23 NVDA bullish CNBC Halftime Committee · video
Near-term correction to $145–150 is possible but does not defeat the AI thematic investing premise, which remains compelling at the macro level
“the 30,000-foot view is a very compelling and strong one”
90d +3.0% · 180d -1.5%
The 'Halftime' Investment Committee's AI playbook
2025-09-23 AI INFRASTRUCTURE / DATA CENTER BUILDOUT bullish CNBC Halftime Committee · video
Current AI capex cycle is not leverage-driven like the 1990s telecom bubble; spending is on productive ROI projects rather than unproductive dark fiber, leaving significant runway
“bubbles are built upon leverage — I'm not sure what we're doing right now is building upon leverage”
The 'Halftime' Investment Committee's AI playbook
2025-07-29 SPOT bullish CNBC Halftime Committee · video
Despite near-term positioning overhang pressuring the stock, fundamental drivers — premium subscriber growth, MAU growth, and a new video/YouTube-competitive push — provide multiple tailwinds over the next 12 months
“12 months from now, you'll certainly be rewarded”
90d +6.1% · 180d -17.3% · 1y -15.5%
'Halftime' Committee Stocks on the Move: UnitedHealth, Merck, Royal Caribbean and Spotify
2025-06-16 long SCHW / long HOOD / long IBKR basket CNBC Halftime Committee · video
Record household equity allocation combined with rates failing to offer competitive cash alternatives drives trading volumes and revenue for retail broker platforms, further supported by deregulation tailwinds
“Robin Hood, Interactive, Schwab, you can throw them all up”
90d +24.1% · 180d +26.0% · 1y +37.0%
The 'Halftime' Investment Committee debates the path ahead for stocks
2025-03-18 PLTR bullish The Compound · video
After a momentum break, quantitative strategies systematically reduce risk rather than buy the dip, so names like Palanteer and Applovin will trace a U-shaped recovery, not a V-shaped one
“don't look for the V-shaped recovery there. I don't think you're going to get it”
The Momentum Bear Market | TCAF 183
2023-08-10 SPX bearish Bill Nygren · video
Rally attempts over the last 10 days have been consistently met with sellers and reversed intraday, suggesting price wants to pull back to touch the 44-day moving average around 4,432
“the price wants to go down and shake the hand of the moving averages 15 days down to 44-32”
90d +1.6% · 180d -11.6% · 1y -21.2%
Virtus' Joe Terranova on why he expects more intraday volatility in the bond market
2023-08-10 Long Dur Treasuries bearish Bill Nygren · video
Increased Treasury issuance is creating supply-driven yield pressure, while asset managers already long duration are fighting against hedge fund shorts, producing downward price pressure on long-duration bonds
“you're going to see a lot of intraday volatility in the bond market”
90d +5.4% · 180d -1.4% · 1y -4.7%
Virtus' Joe Terranova on why he expects more intraday volatility in the bond market

Showing the 60 most recent of 70 tracked stances.

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