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.
— howardlindzon (@howardlindzon) July 23, 2015
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
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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