The market might bounce, but the bubble stocks might struggle as earnings season progresses. That was the situation back in April and May and it might repeat now. Look at shares of GIMO in the after-hours, down more than 30% on a guide down. If your company is growing more than 20% per annum and trading more than 4x sales, look out below during earnings season. Most of the ‘bubble stocks’ are losing money, so earnings might not even matter. Last quarter, stocks like WDAY, CSOD and NOW got manhandled after big earnings beats. No one cared because they weren’t making money.
In order to mitigate the risk of this dip being different, you might be better served with a broad based ETF, like TNA or even QQQ. Play the bounce, make 5%, then jettison. It’s summertime, after all. Who needs this shit?
At any rate, here are some interesting names that have gotten hammered over the past few days.
DATA
XON
SALE
ANGI
NOW
FUEL
DWRE
KS
GLOG
GTAT
TSL
AEGR
ACHN
TEDU
On the other end of the spectrum, the following stocks have outperformed this abysmal tape.
SCCO
PPC
NOR
AKS
GES
AXL
X
TSN
BAX
PG
WHR
ELY
GNC
BBBY
GME
AU
LL
CODE
OAS
LRCX
ACC
CXO
Sir Fly, what are your thoughts on Shld?
Someone in the PPT brought up an interesting point with regards to float and short interest.
I hate SHLD. Hate it with all of my soul.
Own calls in 3 from the 1st list – go me!
No volume today. If this continues it will show up. Be careful out there.
Wut? there was definitely volume out there today.
Bluestar, doesn’t the low volume lead you to believe this bull market still has legs?
Yes it could continue to go higher. But I was talking to people today who were freaked out by some of these moves. If it continues they will be forced to sell. Then volume will show up.
Weed penny stocks shall outperform all in the coming months. HEMP, CBIS, PHOT and their ilk shall ride the wave of the first stores opening in WA.
It was a high volume sell day. However, this is to all the long term TA bears:
[IMG]http://i.imgur.com/P3sUS6S.png[/IMG]
Weed Stocks will be multi year winners
Solar sell-off helped by some faggot at SA and a retweeting misplaced information about how rooftop solar was going to be scaled back. Burn that fucker alive. Here’s the story: http://www.scmp.com/business/commodities/article/1549220/beijing-raise-rooftop-solar-power-subsidies-55pc
“Zou said the new policy will allow the rooftop projects developers to receive a total revenue of 95 fen to one yuan per kWh, matching that of ground-mounted projects. This means the rooftop subsidy could rise by 31 to 55 per cent from the current 42 fen, sharply boosting their viability.”
Some strong names (some on your list)
CODE CODI CTRN KBH MBT MXL OAS PRSC SVU KR SYA UNT VAL
Look for them to outperform
Too early I think. SPX 1960 then 1950 then 1900 supports. Adding names that have been strong all year and/or lately to my watchlist – FANG, EMES, HCLP, PES, BAS, SLB, HAL, NBR, NFX, GBX, LNG, GLNG, GLOG. lots of energy names.
Also BBRY, AA, X, AKS
Is everyone on vacation or something? So quiet here the last few days.
Bruce, the market turned against everyone this week, I made the same comment Monday when it was a ghost town. A little adversity and everyone goes to their holes.
Are there any sites that show daily volume on NYSE and Nasdaq?
http://finance.yahoo.com/stock-center/
Shows a whole bunch of other useful crap too.
I already closed out of ANGI from yesterday’s purchase a@ $10.97. I’m staying away from these “momentum” stocks until this market gives us a clear signal.
Thoughts on RUBI down here?