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Stock market update

Hi guys. I’ve been away for a month, not because of the markets, but because I was travelling and had a very limited internet access. And as I came back I see that not much has changed. Liquidity is getting sucked out of the markets, strength is being sold into so the markets are going down one by one.

Stocks have so far been hit quite hard, some more than others (see 1, 2 and 3), oil has been killed and don’t me even get started with cryptos (see Expecting a move in Bitcoin).

I would like to see a change though, but until we do we need to be defensive and err on the short side. Let me give you an update about the markets and what to look for going forward. 

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The moment of truth for FAANNG stocks

FAANNG stocks or Facebook, Apple, Amazon, Netflix, Nvidia and Google have been out performing the market for a good while. They’ve also been a on the radar of practically every perma bear in the market. Hard to know if they have shorted it before, but they were callingĀ theĀ top for a very long time. Unsuccessfully.

There are two dimensions that set a good trade, direction and time. They might get to claim to get the direction right, but their timing was totally off. I think now is the time to pay very close attention to the group as it could start turning lower!

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