FANG:
Wall Street's latest acronym is Facebook, Amazon, Netflix and Google. The whole world is falling apart, but the good news is that Amazon finally made a microscopic profit by selling cheap shit over the internet. Their trailing profit margin is -.2%. I'm not making this shit up. And you know you're running out of fumes when Netflix is considered a core holding...
Before we get to FANG, the real news was Apple getting shellacked on a weak earnings report...
I will go out on a limb and say that this is a top 6 months in the making...
Faceplant...aka Icarus...
Amazon:
Gapped up 20% this past Friday, gave half back by close...
Netflix: No bubble here...
Google, July 17th:
Step 1) Hire Morgan Stanley CFO
Step 2) Use the word "discipline" during a conference call
The stock has already given half of the gain back since last Friday, since it was just human history's largest short-covering rally...
Step 2) Use the word "discipline" during a conference call
The stock has already given half of the gain back since last Friday, since it was just human history's largest short-covering rally...
Biotech got monkey hammered -4% on Friday, mostly due to Biogen getting CYNK'd -22%:
IPOs peaked in May
Revenueless Biotech is getting "repriced"
The Russell Dow Ratio has peaked: RISK OFF
The Nasdaq's 3-std deviation manic overthrow is now getting CYNK'd back to reality
Nasdaq 100 with % of stocks above 200 Day moving average...
Amid the silent screams of another generation of Etraders getting Shanghai'd into fucking oblivion
