Tuesday, 8 October 2013

FB, NFLX, AMZN - momo stocks hit hard

With the main indexes slipping lower again, the momentum (momo) stocks were hit especially hard today. Many of the usual suspects saw declines of over 5%. With the main market set to fall further in the coming days, the momo stocks are set for a further significant declines.

FB, daily

NFLX, daily

AMZN, daily


Suffice to say, it was very amusing to see the momo stocks snap to the downside this morning - as the sp' failed to hold the 1670 low.

Of the three stocks listed above, ironically, I'd be inclined to say FB is most likely to do well when the market - as it will eventually, turn back to the upside.

Regardless. the momo stocks are always worth keeping an eye on, if only for pure entertainment reasons.