Stocks of real companies are rolling over, while stocks of worthless junk are gapping vertical. Skynet doesn't care about earnings and revenue, it only cares how many tools are left to suck into the market, which according to Barrons is not too many...
Barrons April 26, 2015:
U.S. Money Managers Turning Cautious
"A MERE 5% of the Big Money are self-described bears today, down from 10% six months ago. The higher the market has climbed, it seems, the more ambivalent erstwhile bears have grown." [You can't make this shit up]
WSJ Jan. 28, 2015
AMZN Y2K and now: Same overvaluation
IPOScoop:
IPO Moonshots and Milestones
"A couple of moonshots skyrocketed off last week’s IPO calendar.
By now, everybody knows Aduro Biotech (ADRO) and Etsy (ETSY) had breathtaking opening-day performances..."
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The three top performing IPOs of the past 12 months, have zero revenue: Auspex +740%, Atara +444%, Radius +412%
Esperion: Top performing IPO over two years
Market Cap: $2.3 billion
Zero revenue
Intercept Pharmaceuticals: Top performing IPO over three years
Market Cap: $6.7 billion
Zero Revenue:
Puma Biotech: Top performing IPO over four years
Market cap: $7 billion
Zero revenue
