30 April 2015

SP 500 and NDX Futures Daily Charts - Wash and Rinse Day - Surreal

So after the bell, here was one of the more surreal things I have seen lately, and that is saying a lot in this environment.
Cory Johnson of Bloomberg TV was pounding the table about LinkedIn after the bell, while their ticker showed the stock getting absolutely eviscerated, down over 20%.

I like CJ, and think he is just caught up in the silicon nonsense of stocks that are priced beyond perfection.   Yes Cory, the stock is growing.  But the momentum guys took it to an absurd level where any sniff of reality resulted in a pricing conflagration.
Get used to it.  There are a lot of artificial puffballs out there.  

This is a dangerous market. One of the more technically dangerous I have seen since 1987 and the tech bubble.

Be careful out there.

Have a pleasant evening.