Posted by chartboy on 10th of May 2021 at 07:46 pm
I spent much of the day explaining to people that the action in
things like ARKK, PBW, KWEB, etc, etc is exactly what occured in
the internet names in spring 2000. Stealth bear markets in growth
are not something to turn a blind eye to once rolling tops begin.
With charts like AAPL having what is likely a year long
distribution pattern in place this is not bullish action
whatsoever.
Posted by mitchell on 10th of May 2021 at 11:31 pm
While I don’t disagree w/ the poor tech action I would caution
jumping to conclusions it’s game over. A lot of shorting can
produce another leg higher at any time. I don’t really have tech
positions anymore but I’m reading articles claiming HF’s have high
sector shorts.
Posted by chartboy on 10th of May 2021 at 08:35 pm
I should note, Martin Pring’s work suggests a significant
reversal in the relative strength of tech verse oil and gas,
similar to what occurred in 2000 and corresponding with tech
failing to exceed its prior highs for over a decade.
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Check out this chart
Posted by matt on 10th of May 2021 at 06:32 pm
This chart really hits it home. Steve has been discussing for a while that progression away from growth to value - this chart really shows it
I spent much of the
Posted by chartboy on 10th of May 2021 at 07:46 pm
I spent much of the day explaining to people that the action in things like ARKK, PBW, KWEB, etc, etc is exactly what occured in the internet names in spring 2000. Stealth bear markets in growth are not something to turn a blind eye to once rolling tops begin. With charts like AAPL having what is likely a year long distribution pattern in place this is not bullish action whatsoever.
While I don’t disagree w/
Posted by mitchell on 10th of May 2021 at 11:31 pm
While I don’t disagree w/ the poor tech action I would caution jumping to conclusions it’s game over. A lot of shorting can produce another leg higher at any time. I don’t really have tech positions anymore but I’m reading articles claiming HF’s have high sector shorts.
I should note, Martin Pring’s
Posted by chartboy on 10th of May 2021 at 08:35 pm
I should note, Martin Pring’s work suggests a significant reversal in the relative strength of tech verse oil and gas, similar to what occurred in 2000 and corresponding with tech failing to exceed its prior highs for over a decade.