Here are a few high growth names that have been lauded as quality firms (they are), as their stock prices held in spectacularly well during the downturn. Now, however, they are rolling over. Whether this is a sign of true broad marker capitulation, or whether the bears are just now getting the ball rolling remains to be seen. Either way, they are no longer high quality setups for swing traders. Instead, like many other names in the market, they are possible bounce candidates, though you can see from yesterday and today how much risk that strategy carries.
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Well, I did respect my plan and I’m back 100% cash after catching a nice little move… made back what I lost yesterday so I’m fine with that… Let’s see what Mr market has to offer next…
Yeah, $WYNN’s proven a recent IED.
But I took the risque and can accept the temporary current venial emissions.
Haven’t eyed $MA, wow!
Thx Chess, fine update.