The Death of FAANG
The final confirmation that the NASDQ 100 stocks are done could come as soon as Friday. After the close on Thursday we get the earnings releases for four of them. Regardless of those results and what the companies say about the future, if the stocks sell off on Friday and beyond, it should be confirmation that their top(s) is in. Any market euphoria after the election could lead to a quick, short term bounce but the 1200 area, even if reached, is unlikely to be exceeded.
I believe he agrees with me.https://www.zerohedge.com/markets/david-einhorn-enormous-tech-bubble-and-it-popped-september-2-2020
Amen!
My SQQQ holding is in a sideways trend.
Watching it every day, so I can add more, may be under $20 ?
Again, it is less than 1.2% of my portfolio, and I’m down 16% in it as of now.
The fact that MSFT came out with great earnings and the stock is actually down .37 is supporting my thesis and Friday could be a bloodbath for the FAANGS.