My bubble index inside of Exodus was off by 4% today, a real drubbing in a deathbed of a tape. Everyone is talking about high growth getting sold down. But I have the numbers. Here are the 1 month returns of some of your favorite companies.
Insane buying opp or top? This is what makes a market.
TSLA -12%
TWTR -22%
SWKS -15%
MNK -17%
QRVO -35%
DATA -15%
AMCX -10%
AGIO -11%
DWRE -13%
YELP -32%
MEG -19%
SSTK -37%
BOX -22%
BLOX -11%
TTPH -13%
QLYS -13%
HHC -7%
BIDU -8%
AVGO -8%
GTN -8%
ISIS -8.5%
AAPL -8.7%
FEYE -10%
STMP -10%
LNKD -10%
For the coming bounce, I’d stick to the old winners and avoid the really beaten up shit in basic materials. You want to gravitate towards quality and avoid trying to make 100% on your next trade. On a reasonable bounce, many of the above stocks will give you 10%. For me, that’s more than enough to get me back near my year to date highs. I have little interest in buying distressed shit and then hoping on a star for some sort of miracle out of China.
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Thinking rotation or still winners. Old winners can be like the ex. Not a great idea the day after.