StockFetcher Forums · Stock Picks and Trading · Technical Warning signs before NASDAQ/FANG sell-off on 9th June 2017<< 1 2 3 4 5 ... 7 >>Post Follow-up
enterprise63
3 posts
msg #136301
Ignore enterprise63
6/11/2017 10:44:18 AM

I got caught out by the sell-off in AAPL on Friday, which hit many other NASDAQ stocks, especially the FANG stocks. Was there any technical signal that warned of this ahead of time?

Mactheriverrat
2,260 posts
msg #136303
Ignore Mactheriverrat
6/11/2017 10:41:56 PM

The last couple of time tech stocks did this they bounced back.

karennma
7,591 posts
msg #136307
Ignore karennma
6/12/2017 8:08:01 AM

@ enterprise63,
It might be a sector rotation.
Go to this page on Stockfetcher and look at the Industries. (View Percent change by Industries)
Click Here

You've got to admit, the run on techs was excessive.
This is the problem with indicators. Your technicals might remain above 80 and give you no warning. Sometimes you just have to use your judgment. As per my post on Intraday trades, "out of NVDA, this doesn't "feel" right."
NVDA was in "mania" mode. Ever heard of AMBA? Look at it's 2-yr. chart.
When things start looking too good to be true, best to have your stops in -- or just get out.
I bot some AMZN calls early Friday afternoon. I was shocked when I got home and saw AMZN had dropped another $50 while I was gone. Now, it's down again.
Parabolic moves are always dangerous.


karennma
7,591 posts
msg #136308
Ignore karennma
6/12/2017 8:16:14 AM

@ enterprise63 ---
BTW, THAT is Y you'll see posted on this board all the time ....
"keep your positions small".
I hope you did.


karennma
7,591 posts
msg #136309
Ignore karennma
6/12/2017 8:26:13 AM

And AMZN looks real bad.
Just when you think $1000/shr. is the new normal .. it isn't.
I wouldn't be surprised if it drops another $50.



enterprise63
3 posts
msg #136311
Ignore enterprise63
6/12/2017 10:39:21 AM

Thanks for your views. An explanation I read on Yahoo Finance was that the sell-off started just as the VIX dropped to a 24 year low - no fear in the market, everyone fully invested, no spare cash on the sidelines to buy more shares at higher prices, so the price had to fall. Any thoughts on this?

pthomas215
1,251 posts
msg #136313
Ignore pthomas215
6/12/2017 11:14:08 AM

in the short term yes. there's money on sidelines though. FOMC meeting is dragging indices. I expect Nasdaq to fall further, as the run up in valuations has been significant in tech. that said, SnP is going to 2490 in the next few months.

lonehand
9 posts
msg #136314
Ignore lonehand
6/12/2017 11:17:34 AM

You will drive yourself crazy trying to attribute a reason "WHY" the market does a certain thing. The only "reason" fang took a beating was more institutions were selling than buying.

karennma
7,591 posts
msg #136315
Ignore karennma
modified
6/12/2017 11:38:35 AM

@ enterprise63,
Your best answer ....
=====================================

lonehand
1 posts
msg #136314
- Ignore lonehand 6/12/2017 11:17:34 AM
You will drive yourself crazy trying to attribute a reason "WHY" the market does a certain thing. The only "reason" fang took a beating was more institutions were selling than buying.


IMHO: Retail investors are usually the last to leave the party.
I bot my AMZN options around $975 and left for the afternoon ....
When I got home 4 hrs. later, AMZN had dropped to $927 (@ 2:50PM Friday - only an institution can move a stock like that).
THAT is institutional selling, not retail.




karennma
7,591 posts
msg #136316
Ignore karennma
6/12/2017 11:47:00 AM

BTW, all the conspiracy theorists on YouTube are spreading a rumor that the market will crash on June 21.
I'm not saying it's true, but at this point in my life, NOTHING surprises.


StockFetcher Forums · Stock Picks and Trading · Technical Warning signs before NASDAQ/FANG sell-off on 9th June 2017<< 1 2 3 4 5 ... 7 >>Post Follow-up

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