Commodities have had a heck of a bear market.
The low cost of oil and natural gas is due to abundant shale gas and shale oil supply making the US an exporter for the first time since the seventies.
This in turn caused energy dependent industries like mining and agriculture to be more cost efficient, creating higher output in the mines and on the fields and pushing...
Just as GOOG and FB, the trend in AMZN is dead.
It's over for this growth stock for now.
Could see it decline to 1000 or even worse 765, where it would have very strong support in the form of high historical volume and probably a decade old upward trendline to resume it's mature growth trajectory.
Best momentum stock of the big 5 right now (AAPL, GOOG, FB, AMZN) with only AAPL still a hold.
However GOOG, FB and AMZN all point towards a severe correction.
If this occurs it could happen that MSFT and AAPL gets dragged along and will break it's upward trend.
I am going to assume that UBER is going to exhibit similar behavior as LYFT after it's failed IPO.
Therefore I am looking for UBER to make a second deeper dip near the end of this month which will probably take it down to 30.
Here I would be willing to take up a first position.