Former tech bull
Apple, Microsoft, Google, Apple, Netflix, IBM and Twitter. Pretty soon you have a trend,
The above stocks have missed earnings and have imploded in grand fashion over the last week or so. Most recently AAPL, TWTR and CMG after the close today. Remember that earnings were supposed to be easy to beat because the bar was set so low. I guess not low enough.
In case you haven’t noticed, there has been a slow rotation out of technology and into metals and commodities. We heard the “growth is dead” theme start last earnings quarter when we saw $LNKD and some other names implode spectacularly. I guess that theme is getting legs.
Some tech behemoths that still haven’t reported are $AMZN $FB and $LNKD. Should be a hoot.
Here’s $AAPL in the after market.
Here’s $TWTR
Commodities have been all the rage, all the cool kids are buying. If Yellen waxes dovish tomorrow,expect further weakness in the dollar and more of a bid in energy and other metals and such. As far as tech goes? Ready to buy a lot of SQQQ soon. Tech will be the first to puke it up big when this market rolls over. Its already cracking.
Same day, different sector.
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