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US Stocks Collapse – A Good Argument to Establish New Longs – Classiarius Views

US Stocks Collapse - A Good Argument to Establish New Longs - Classiarius Views

We think that November 12 to 16 that indices find a bottom, and covering shorts and establishing selected longs makes sense.  Not a trade idea, just a suggestion. 

As the US stock rout continues, some tech names are being sold aggressively and Facebook is now the next target. Here at Classiarius, we have looked closely at technical signals and think this week, November 12 to 16, is a period that could start to see the market find price support and reverse. As names like Facebook hit 19 month lows – Facebook traded to its lowest level since April 2017 – there are beaten down names that are likely to become attractive this week and next.

We have cautioned for weeks and now feel that on an individual stock basis – there are clear opportunities in the market. We encourage you to study, focus on key signals that you develop and buy when you feel that some names are oversold. Buying dips does makes sense sometime.

FAANGs have had a challenging 2018 with a series of scandals, information leaks and general loss of trust – in some cases – by the public. Spreading harmful content around the internet has been a challenge for some firms. In case of Facebook, the issues of scandals, one being the Cambridge Analytics, have rocked the firm`s stock and with questions about the inexperienced senior management team, their share price will naturally suffer. Facebook shares have fallen 21 percent over the past 12 months.

CEO Mark Zuckerberg has lost $30 billion of his net worth and the sell-off for this troubled stock seems to see no end.

The Dow closed down 2.3 percent today, while the tech-heavy Nasdaq was down 2.8 percent. Apple closed down 5 percent while Amazon fell by 4.4 percent. We are not seeing classic stock sell-off….

Consider buying after studying these markets this week,

Team Classiarius

 

 

 

JMB

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Classarius is the only data driven news for blockchain, cryptocurrencies and technology from investment professionals.
Disclaimer: We do not provide investment advice or strategies, this article is not intended as such but only to provide you the reader with information. Please conduct your own research before any investment of any kind.

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