Ghabour: "High" Chance of 10% SPX Correction, Tech Buy Opportunities Coming

• Recommends a defensive portfolio strategy, including raising cash and increasing allocations to gold and copper.
• Expresses concern about a stagflationary environment due to elevated oil prices and potential supply chain disruptions from the Iran conflict.
• Predicts a 10% correction in the S&P 500, with tech and other high-beta sectors expected to underperform.
• Advises against tech and small-cap exposure in the near term, but foresees strong buying opportunities in these areas in late Q2/early Q3 after a 'washout'.

Eddie Ghabour recommends a defensive portfolio stance, raising cash and increasing gold/copper positions due to concerns over rising inflation, elevated oil prices, and the potential for a prolonged Iran conflict. He anticipates a 10% correction in the S&P 500, with tech and small-cap sectors facing significant downside before potential buying opportunities emerge later in the year.