FB, TSLA, TWTR - momo stocks slammed

Whilst the main market saw continued minor weak chop, there was rather severe downside in most of the momo stocks. Facebook (FB), Tesla (TSLA), and Twitter (TWTR) closed lower by -3.8%, -9.1%, and -5.2% respectively.


FB, daily

TSLA, daily

TWTR, daily

Summary

Suffice to say, the only notable significant weakness today was in the momo stocks.

What does it mean for the broader market? Probably.. very little. We've seen these kind of periodic smack downs a number of times this year, and overall.. it probably means nothing for the main market.

Regardless, for those who were short any of the momo stocks.. today was a great day... and a great opportunity to close out.. ahead of the next FOMC announcement.