just ask yourself one question... does Trump want ATHs now or closer to November? an oil crisis now sets the market up for a relief rally in November. Voters have the memory of goldfish and he identified that correctly.
Semis are one of the clearest bubbles that exist today and easiest to short. When the investment dries up, there will be a tremendous overcapacity and they will go back to being cyclical stocks. Semis today are the housing of'08.