FAANG-Stock Rampage Dragging a Tired Stock Market Higher

EST

Although headlines over the weekend suggested that the ransom malware that wreaked havoc around the world on Friday could get second wind on Monday when workers return to their desks, there was no sign Sunday night that Wall Street was even remotely concerned.  Index futures were trading moderately higher, but not by enough to suggest DaBoyz were trying to distribute stock ahead of a possible Monday selloff. Although the broad averages look like they could use a rest, a FAANG-stock rampage has been making it very difficult for this to occur. I have higher targets outstanding for FB, AMZN, AAPL, NFLX and GOOG, and although subscribers hold a small put position in QQQ, we should resist the temptation to get in their way.

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Rick Ackerman May 15, 2017, 10:47 am

The FAANG stocks actually have a $2.5TR capitalization, Seneca. Add in MSFT, and you’re up to $3TR. Two of those companies are just glorified ad agencies, and one — AAPL, a vendor of overpriced hardware — will come unglued in a recession.

none May 15, 2017, 5:34 am

FB, AMZN, AAPL, NFLX and GOOG, 1 trillion market value have completed a 2nd ‘dot com’ bubble.

POP!

The ‘lower interest rate yield’ today towards the March 1st equity high, puts the new trend in place.

The breaking of last weeks equity low will generate a lower high and VIX, which may create a longer term low in the equity market to signal that the ‘beware’ has pass.

The Rut non confirming the NAS is in place.

1 Trillion market value is market history for nothing more than ‘texting in a moving car’ to one another.

Have a great day today Rick and keep up the good work.

“The one who follows the crowd will usually get no further than the crowd. The one who walks alone, is likely to find himself in places no one has ever been.” – Albert Einstein



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