Every rally needs a “tell”. Apple and Disney are fine but if you want to check the Animal Spirits of the market look to the beaten down crap.
Here’s a chart of Twitter, FitBit, GoPro and Shake Shack over the last 5 days. Don’t enlarge it in front of the children unless you want them to have night terrors for 60 years.
4 stocks that lived and are now dying by hope. In a screaming, stupid, straight-up 10% face-ripping rally you’d want to own at least a few of these.
Here’s those same 4-stocks as of 8:14 hippie-time:
All way off where they opened. GoPro is a rat-infested pit of despair. You couldn’t sell enough GoPro to bid for the Silence of the Lambs house without dropping GoPro 10%. there is no demand.
That’s both rational and a warning sign for this bounce. Don’t be piggy.If you enjoy the content at iBankCoin, please follow us on Twitter