TheNigerianPrince

Money Outflow from Tech Stock

Long
NASDAQ:SQQQ   ProShares UltraPro Short QQQ
With the anticipation of re-opening of the economy around the world, there is a large capital outflow from tech stocks with hedge funds rotating out of the sector according to BofA Data Analytics.

I've been trading SQQQ since 11.30 level moving in an out capitalizing the spikes. 2020 was the year that tech stocks lived up to their potential, but now, how are investors anticipating growth from this sector? Maybe tech stocks will be a value play in the medium term but near term, I only see more downside from the sector.

Price having difficulties breaking through 13 which is the 1Q21 close and in confluence with the long term trendling. Short TECH

Watch out for FANG stocks and other people's choice stocks. I think investors are looking for value with the low interest rates.

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