We’re seeing constructive action across the board in social stocks these last few days. Encouraging the stocks to advance higher is the early stabilization in share of Facebook, which last week looked like it had made its way to the other side of the momentum mountain.
Eagar shorts (read: haters of the future) are now confronted with the fact that these companies are real and there is demand for their shares.
My two favorite plays in this budding space are ANGI and Z because they incorporate the housing resurgence into their mobile/social awesomeness. But that doesn’t mean I don’t have a soft spot for the other players, in fact I own a few.
I’m also seeing the LED play work magic. There was a huge move in RVLT today, and CREE continues to defy gravity. I don’t own RVLT, and these spikes can be rather precarious conditions to initiate new longs into, but I think the company has an excellent opportunity to grow as LED adoption accelerates. I still own shares of OESX.
The S&P is having a hard time reentering yesterday’s value which has me slightly cautious. I took off my KORS and BX longs. But overall, it’s been a constructive session. I bought my RH back because homeowners who want some swagger shop here.If you enjoy the content at iBankCoin, please follow us on Twitter