Thursday, 10 October 2013

FB, NFLX - momo stocks back in favour

With the US market soaring on the assumption of the debt ceiling can being kicked at least for 'some weeks', the momo stocks soared, with most up 2.5% to 5.0%. If equities can rally into the weekend, FB, NFLX..and all the other usual suspects, will be close to breaking new highs.

FB, daily

NFLX, daily


A crazy day in the main US market, with a combination of huge short-covering, bulls chasing, and borderline hysteria that 'everything is going to be fine again'.

For the momo stocks like FB and NFLX, today saw very natural very strong gains of around 5%.

With the main market looking like it has put in a short-term floor, the momo stocks will have a real chance of breaking new highs in the coming days..which is frankly.. a really bizarre realisation.