I have been largely sidelined from this market in recent weeks due to the glaring divergences which have increasingly seemed to matter more and more. For a long time during this multi-year bull run, negative divergences were better seen as Christmas tree ornaments, to be briefly admired rather than taken too seriously.
However, the deteriorating action in the small and micro-cap stocks, as well as high yield corporate paper and junk bonds of late has reached a point where stocks are having trouble sustaining moves to the upside, even with logical catalysts such as a leader like Facebook smashing earnings a while back.
To be sure, this is not a broad-based market and has not been for a while. Despite TWTR gapping up hard yesterday after earnings, other growth names like DDD GLUU YELP are plunging this morning.
The main chart that seems to be overlooked here is the micro-cap index, which I will present to you again later this morning.
For now, I am focused on looking for quick, actionable ideas inside our 12631 Trading Service. Just this week, our members successfully trades the likes of GPRO LOCO on the long side.
August is here! Get ready for the downslide for a later window dressing chase the performers. Until then, have fun. Oh and thanks for Twitter! Huge call dude. That was awesome.
Good work, Marc.
Never get VXX if you want a VIX play… UVXY much better. Finding that out today. Also, screw google for still showing that as silver, wtf?
Nice
nymo is probably around -65 right now
Probably
WWE beat and is doing alright amidst the selling. Giving the sell off the people’s middle finger.
LOCO still not phased much up another 7% as of now.
BMRN also up on beat.
EVRY up a mere 52% (has ER after market)
CENX a beat as well, up 5%
LRCX beat..I could go on.
I am hardly worried
http://youtu.be/zaGUr6wzyT8