We have seen a lot of big moves in Tech & Internet stocks recently which I personally find a little worrying. Last week it was Netflix, Facebook, and Google, with gains of as much as 30%. This week we’ve seen Amazon surge 17% making the company bigger than Wal-Mart.

I am not bearish per se. But these strong moves have the hallmark of investor exuberance, meaning a short-term correction could be around the corner. As a result, I have moved a good portion of my holdings into cash.

This week’s chart

Calling tops in the bull market via @jboorman

calling tops in the bull market

Here are this week’s links:

Prospect Capital: A Takeover Target? (Seeking Alpha)

How low can gold and silver go? (Forbes)

Ferrari IPO could come by end of the year. (Reuters)

Why you should not be day trading with a full time job. (Trading With Rayner)

Jim Rogers: oil prices going down will remove a lot of supply. (Jim Talks Markets)

How I lost my first $1 billion. (Arenavc.com)

That’s all for this week. If you have any other good articles to share please leave them in the comments.

Have a great weekend.

 


 

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