Here is my take on FB, AAPL, AMZN, NFLX and GOOGL. (November 30, 2015)
I want to look at FANG here in this Free Video, but it’s with two A’s, Facebook ( NASDAQ:FB ), Apple ( NASDAQ:AAPL ), Amazon ( NASDAQ:AMZN ), Netflix ( NASDAQ:NFLX ) and Google ( NASDAQ:GOOGL ). You know you see that stupid acronym only without an extra “A” talked about a lot with respect to the MOMO stocks. I just want you to be aware of what’s happening in the market. The S&P was hanging in there, kind of “drifty” all day long and then right towards the end of the day it fell lower. So I’m going through my analysis and I’m looking at a lot of different stocks. A lot of them that I’m seeing I just can’t get enthused about buying, other than some energy names, and a few others.
I’m looking at this and the first thing that I start thinking is, “Okay, lets see what this ‘supposed’ high growth, strong stocks are doing.” The first one that comes to mind is Facebook ( NASDAQ:FB ). Now, I like Facebook ( NASDAQ:FB ), not the product, I don’t even have a Facebook page, I think it’s creepy. But I’m probably the only guy, on the planet, that doesn’t have a Facebook page. How people so willingly share so much information about themselves to ANYBODY with an Internet connection I will NEVER know, but that’s just me. Again, 98 bazillion people can’t be wrong, so I’ll put that on me. I like the stock, because of the aforementioned reasons. But it’s moved lower today, it’s down over a percent.
You look at Apple ( NASDAQ:AAPL ), it’s essentially flat. This morning it actually looked like it was trading pretty well, but it’s really flat, and this is after their bit iPad release, right? So this is kind of tepid at best. Amazon ( NASDAQ:AMZN ). Okay retail stocks just were getting absolutely crushed across the board but you’d think, “Well Amazon, the reason the ‘bricks and mortar’ shops aren’t’ doing so well is because Amazon Prime.” Well, this is also down. That’s a little worrisome to me. Netflix ( NASDAQ:NFLX ), 130.00 was resistance here, now this has formed a “bearish engulfing pattern” here, almost anyway. Where the stock gaps up to the prior day’s trading range and closes below the prior days trading range here, so it really engulfed Friday’s prices. So this isn’t a stock that’s really being bought.
And then finally “Alphabet Soup” here, Google ( NASDAQ:GOOGL ), 780.00 is resistance, this is off of that as well. So I’m looking at these momentum stocks and they’re all resting. This is the last trading of the month, right? So I don’t know what tomorrow, the first day of the trading month, will bring. Typically those tend to be higher because money comes into the market. I don’t know what that’s going to bring, but I know right now, as I look at these stocks, I’m not getting fired up to be long the market. The S&P is up at this little resistance level here and the reason I’m going into more detail than I usually do on this Free Chart Video is at some point I just want everybody to do well.
What I’m saying is, I just don’t want you to get all “lathered up” because you turn on CNBC and unless Peter Schiff’s making an appearance (who I love), unless Peter’s making an appearance everybody’s always saying, “Oh my gosh, the future looks so bright, you’ve got to buy stocks.” Just wait, because tomorrow, the next day, the next two days may surprise you. All I’m saying is, trade what you see, not what you hear being talked about on TV. Trust me, because I’m on of those guys, I’ll tell you they’re two totally different things. So watch the “FANG” and wait for those stocks to start trading higher. Or, hey, just go in to some of the energy names.
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