People convinced markets can only rise, and are folding in. Time is near for reversal, but likely not until mid December. Watch carefully now, for funds systematically unloading
Fair enough. This is 18x book, has risen multiples over the last 5 years, including immense rise in recent few days. $56B value for a travel site? Seems outlandish.
Today had the flavor of a serious downtrend, what with a long weekend and earnings nearly done, we could be in for a 5% drop by end of next week. CMG would drop to the $425-450 range.
I'm going with all of those guys inside who've been selling like there is no tomorrow. This is a $350 (maybe) stock masquerading at this $535 level. Patience my boys, and all will come.
All true, but WHEN? Remember, the major holders and institutions will not let anyone else make money, so they'll hold it and drop it when least expected, for example, they create positive news, then sell their holdings into the rally.
Stocks like this, CMG, PCLN, NFLX that rise in use % in one day is a sign that analysts severely miscalculated AND that the companies misstate their earnings expectations. Add in the FED free money, and there you have it. You can, in my opinion, battle this by buying both calls and puts.
You'll be right, eventually, but they've been crushing put buyers and there seems to be no let up. This is the greatest bull market of all time (in a recession-type environment) so it all short selling squeeze. hard to fight.
I do not believe this market can be measured by logic or numbers any longer. It is simply short selling and no other investment alternatives.