This looks like it could be a major reversal, to start a real correction. The momentum names that are way overvalued will feel the downside move more than others.
This company is years away from any substantive progress with their drugs, and yet they've bid it up over $15 in two days? This is like 1999, only worse with some of these biotechs.
No offense, but you're a microcosm of today's market, just like 1999. In 1999, no one took profits; and then the market crashed. You had a chance to take your profit over $101, but because of greed, you're still in, thinking, "$101? Maybe $105 next week." It's not just you, the entire market thinks like that.
It's a blessing that the jobs numbers was good. US recovery means raising rates, eliminating QE. But because of Russia, no one will want to speculate and be long this weekend.
who had the presence of mind to take your profits, or add to your short positions over $100 or even near $101 today. This looks like the top for YELP for awhile.
There are many reasons not to take huge risks, but I'd say about 80-90% of the traders in this market are on margin, with a big number. That will exacerbate the move down when it happens (and it will, it always does), and the momentum stocks like YELP will probably fall the most.
What we need is for an analyst, any analyst, to grow a pair and downgrade the stock......but that's just not in their DNA....
Runfor, I think YELP will be taken down long before May. I was thinking the exact same thing as you; YELP was weakening technically, so they upped the target. Well now it's almost $1 off the open, the overall market may be selling the jobs news, as they should. Maybe we'll go red later.
If the NFP printed low, it was weather related, and the market rallies. With today's print, it surprised the market, so the market rallies anyway.
Does the word geopolitical even matter anymore?
The Fed isn't the only one responsible for creating bubbles. Just like in 1999, the analysts are to blame. There must be hundreds of analysts out there now, trying to win clients. The conflicts of interest are enormous. You're correct....they create a self-fulfilling prophecy, designed to pump up the price for their own agendas. I could be wrong, but I really don't think anyone (in their right mind) wants to pay this much for YELP right now.
And yet the futures and spy are up in pre-market. The invasion is one off, it's weather related, no worries.
No public company wants to buy another company that will not be accretive to earnings immediately. YELP has never been profitable, and the risk for the acquiring company is enormous. Finally, no one wants to overpay for a company. Maybe they'll be interested if the stock corrects to into the $70's.
Fear of the fact that Google has the same service, and that YELP is overvalued by about $25, with no profits in the near future.
He's really worried. I'm not, I'm buying anything and everything that pulls back at least twenty-five cents.
Goldie.....Congratulations on your long call for awhile.....but today is the day you should take your profits on any strength.....I'm afraid the next move for YELP is lower.....Price action is weak the past few days....