The fork has been inserted into your beloved momentum darlings. According to growth names like $LNKD and $DATA today, if you’re not down 20% or more in a growth stock yet…just wait.
In late December in After Hours with Option Addict, we talked about those names being ripe for a rotation away from, and into beaten down materials stocks. Now each of these stocks has lost it’s momentum trend, as @Dyer440 called in $NFLX months back.
Each of them is now working it’s way towards primary support. $AMZN is by far the ugliest. $GOOGL hasn’t exactly cracked yet, but that weekly candle looks like shit.
Look out below.
If you enjoy the content at iBankCoin, please follow us on Twitter
On a weekly chart with Bollinger Bands, strong uptrend in AMZN still appears to be intact. Stock is simply tagging the lower bollinger band and 50 week moving average. There is a very large bar in the lower 500’s on volume by price profile. Usually a good spot to buy…
I figured anything below 500 is a buy in AMZN. Want to get in on TSLA but I have no idea what “proper” valuation a company like that has.
If you consider solely on a market capitalization basis, is the company worth more than 21B? I’m thinking $40B is right (10X sales).
Do you evaluate that with oil at 20 or 50? Because people I talk to that own Prius say that they miss their big trucks. So… GM or F?
I remember back in sept 2000, when AAPL broke hard one day..it kept goin down for 2 months…
it went from 3.75 to 98 cents…obviously that was a few splits ago…
btw, i’m so bearish right now, I could spit…gotta be close to some kind of ‘bott..’ gee, i don’t even want to say it
AAPL looks like it wants to rally into the close
I like your thinking.
Or not….definitely not puking like the others – did have a nice rounded base for the lunchtime hours…
It feels like if we come out of this, it will be on the back of a whole new set of names and we won’t have to keep talking about the same 10 stocks we’ve been discussing the last 2 years in AHWOA. Maybe the materials are hinting at that right now.
I sold a starter in $FEYE yesterday, on no other logic than I was sick of looking at it and didn’t think I’d ever want to add to it. #GameOfSkill
Couldn’t agree more.
Except for the part about us only talking 10 names in AHWOA. Not following that part…
bought and sold TNA for small loss today. done for the day. this market has no legs.
Looking at that, I’m think I should lay on some QQQ puts.
smart. couldn’t resist and threw on some TZA for kicks about half hr ago.
OA
$GS looks good in this carnage. Good call
Man, GDX continues hugging resistance so will wait on some DUST weeklies. Thinking Chinese New Year next week allows the USD to crawl higher and that will cause a retrace.
well, there goes that
well, there goes that
LNKD just keeps getting smoked – this is crazy
Naz gave up, took its ball and went home – S&P still holding around 1880, but not looking good heading into the last hour
The indexes don’t show it but stocks are being panic sold. If this isn’t a buying opportunity then we have much bigger problems ahead
V doesn’t look bad here but if it shits the bed you have easy 20% of downside here… Although many stocks are down 8-12% just today. NASDAQ is isn’t getting a Valentines date this year