ETF's.....It's been driving the market higher for the past few years.....
It's hard to defend against a late filing and increased audit exposure....too much uncertainty.
Your post looks familiar......Oh, now I remember...It should look familiar.....It was the exact same post I saw in 1999 and 2007.
Yet another reason for the Fed to raise interest rates and the market to correct. The Fed is behind the curve.
Chicky, has your take changed on any of this nonsense since we last spoke? It seems the Fed is WAY behind the curve now.
No reversals for this Fed. Gotta have those buy programs just on time.
Unbelievable....The Nasdaq is up 60, the S&P is at 1977 already....
I agree with your post, except for the word "dreaded", which I would change to "welcomed."
It's called greed.....No one sells, until it's too late. That's the way it always works. Anyone not taking profits today is absolutely nuts.
And no one is hedged. When you have the mindless, unprofitable GPRO up every day since the IPO, you know the bubble is alive and well. This is worse than 1999 now.
34% upside in NFLX according to Goldman? That's about 150 points from here. And of course the self-fulfilling prophecy takes over right away, as the stock is already up $16 in pre-market. Never mind that the stock and the entire market is far ahead of where it should be with no correction in years.
No, I'm not short NFLX, shorting momentum stocks will come later...but when? NFLX could fall 150 points in one day in a black swan event....but no one cares, no one is hedged, it's 1999 all over again......and my point is the analysts are certainly a big part of the blame....
I was waiting for a pullback to go long ISIS, and this may be it. Technically, the weekly chart looks like it could head back to about $30 within a couple of weeks, but this may accelerate the process. I'm waiting to read an article from someone knowledgeable with hands on biotech experience to offer a rebuttal for this article, and they we'll see.
Why is it traders and investors are not allowed to call customers and others to do their own channel checks like the analysts? Clearly there's a conflict of interest. All of the analysts want to do investment banking business with public companies, that's a fact. So they'll raise the price targets of stocks, or lower a target if the company is struggling, but leave an "outperform" or buy rating on the stock.
Competing analysts' reports are misleading, contradictory with their competition (other analysts), and conflicted by their own agendas, which include the desire to do banking business, as well as getting their own personal wealthy clients into a stock, and then subsequently putting out a "note" that they've done channel checks and the "stock should recover", with price targets that don't match the fundamentals.
If this entire scenario sounds familiar, it should, because this is exactly what happened in 1999 and 2007 with companies that were not profitable, who were spending tons of capital on expenses, in an effort to capture revenues. There is no level playing field whatsoever, and just like 1999, this too will end badly.
For anyone who cares, no, I'm not short SPLK. It's very difficult to short a momentum stock in this market.....But as soon as I see a sell signal on the chart, this will be a great short opportunity.....That opportunity may come as soon as tomorrow, we'll see.
In the meantime, I believe what was written in the compelling article in Seeking Alpha yesterday, over what a Wedbush sell side analyst said in a note today.
The SEC will be looking into sell side analysts who write things like "after speaking with a number of Splunk's resellers and customers." That sounds like a violation of security laws to me, esp. if he gave this information to his own clients before releasing the note to the public. And the second half of fiscal 2015 is a long way off.
There's absolutely no justification for pushing the shares up strictly based on momentum investing. The stock doesn't support this valuation at all, and the market is down over 100 points.....
This guy did his homework, and his thesis is compelling. This is nothing more than a casino market, which will be crashing very soon. SPLK is very overvalued, it's not even debatable.