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

It's time to get defensive with your portfolios, says Eddie Ghabour, with his firm turning underweight on tech and growing its investments in gold. He adds that a "lose-lose" scenario with the FOMC's stance on rate cuts, paired with heightening tensions in the U.S.-Iran War, will lead to a 10% correction in the S&P 500. Eddie says "I hope I'm wrong on tech," though a deceleration in earnings growth backs his underweight thesis. That said, he sees buying opportunities ahead for these stocks.