just like the rest of NDX irrational tech bull - it doesn't make sense
Robinhood kids are in SNAP that's one of the reasons
Facebook & twitter bailed out money
but my gut feeling tells me, this is money that doesn't know where to run to - and tech was somewhat resilient to covid ( i would call it a hedge play )
but moving forward i don't think these kind of plays will matter much, near the elections, NDX wave 2 targeting 8500 ish - all cards will be reshuffled
scheplick
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@Waves_of_life, We will find out. As long as investors are bank rolling these companies at some point they will turn a profit. It's all very interesting to watch...
LisaNEdwards
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@scheplick, @Waves_of_life to me this looks like a strong consolidation pattern if Snapchat expands and branch out of their personal bubble this pattern could show Tesla-like potential. It had a similar beginning wave pattern for quite sometime. I would be thinking new partnerships and company expansion is on the horizon
That should take some time, personally i see 19.5 levels soon & will assess again for a solid entry point. once that confirmed i see long term tgt in 100$ area coinciding with Wave 3 impulsive trend
however in all fairness and this is a point we all seems to overlook
( Charts are not reliable anymore : )
Reason : Robin hood kids, they should wash off with NDX upcoming correction & they will disappear as fast as they appeared
Safe trading all, get some pop corn and enjoy NDX correction soon ( i hope )
ps. its really impressive that just from shorting the FANG in past two days, that affected the index this much
just like the rest of NDX irrational tech bull - it doesn't make sense
Robinhood kids are in SNAP that's one of the reasons
Facebook & twitter bailed out money
but my gut feeling tells me, this is money that doesn't know where to run to - and tech was somewhat resilient to covid ( i would call it a hedge play )
but moving forward i don't think these kind of plays will matter much, near the elections, NDX wave 2 targeting 8500 ish - all cards will be reshuffled