I can’t remember the last time the FAANG (FB, AAPL, AMZN, NFLX, GOOGL) basket fell by 10% in any time frame; but here were are now, off by nearly 10% and people are freaking out.
We’re looking at a two week time frame here, a period that presided over the destruction in many high profile names.
Here are some other stocks that took major L’s in the past two weeks.
TWTR -23%
SOHU -14%
BIDU -11%
NTES -11%
ORCL -13%
MU -12.4%
AMD -12.2%
CRM -11.3%
SNAP -10%
DB -10.5%
WFC -10%
OSTK -22%
CENX -21%
OLED -16%
MELI -13%
NVDA -9.4%
SHOP -12%
TEAM -10%
X -12.3%
GIS -12.7%
W -21%
The list goes on and on. It has been a blood bath. Overall, the SPY is off by 5.6%, Nasdaq -7.6%, while utilities were flat, gold +1.4% and TLT +0.6%.
The leadership of the market has been damaged. The high risk assets torn to shreds, leaving only whispers of encouragement for traders to cling onto. Most, including myself, are only long because buying dips has been a winning strategy. Plus, Exodus has a pretty good track record of timing bottoms.
Question of the night is: is this time different?
ADDED BONUS: Cryptos are crashing. BTC is $7,800, ETH $449, and LTC $136 -10%.
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And yet, my crypto project is still up double digits today. Make Crypto Great Again!
Remember 2015 when a bunch of sectors crashed but the fuckin indices just stayed basically flat the whole year? Probably gonna be one of those kinds of years for all stocks. Just gonna suck a fatty. Also, this is showtime is a one-balled Canuck.
This will be known as the Tech Scare of 2018.
Or the BitTech Scare of 2018.
I’m with you squirrel. There are no rumors of systemic financial risk, the policy risks are known to the market.
just what they want you to think
It’s cute that you guys think this is just a “scare”, and that the “real” prices were two weeks ago at historically high PEs. New paradigm, right?
Heard that one when I was a BTFD long in thr late ’90s – and early ’00s.
I have no idea whether this will be different. What I do know is that I’ll let Exodus dictate my plays. Given the volatility and weakness in market leadership, I’ll focus on stocks that have performed well on OS on a shorter time frame. It appears being tactical and swift is to one’s advantage, on either side of the tape.
STFU
Jerome knows.
The Clam knows.
That’s truth.
There used to by a myth that you cannot inflate the same bubble twice — after it burst. Tuns out it was just a myth. Clearly, it looks like those filthy schmucks at the FED managed to re-inflate housing bubble v2.0 and dotcom bubble v2.0. Third time’s a charm though and these bubbles will not burst – that will be the v3.0 final release after all the bugs are ironed out from previous two versions.
There may be a bubble in RE in select markets. Does not qualify. Also, nobody really owns stocks except the well off. Does not qualify.
When Showtime capitulates and buys stocks, that will be a bubble.
re RE,
With the price of money manipulated as it has been, we don’t know the free market price of any financed purchase ..we just know it would be lower.
They are killing the internet. Castration would have been bad.
Wait until all the patient peeps looking for a retarted dip and their ira buys start hitting the tape.
Fly – martingale stratagem. Wake up, but a few /NQ contracts, go back to sleep. Repeat until filthy rich.
Prove me wrong on a long enough timeline.
Good is quietly breaking a multi-year high. Wonder why?
Interesting that Tesla is FINALLY getting the piss whacked out of it. As GG would say, “The illusion has become real.”
Crash.
TSLA -14.7%
Buffet said you can loose 50 percent of your portfolio at any unknown time.
I’m not giving back last years great gains, and
Going to cash.