To gain an edge, this is what you need to know now.
The Dip
The headline of yesterday’s Afternoon Capsule read: A TINY CRACK APPEARS IN MOMO STOCKS. We also wrote:
As we have written before, momo is going to continue this behavior until they have massive losses. The only way for such stocks to go down is if smart money starts selling them aggressively, but that is not the case right now.
The Morning Capsule headline today read: SMART MONEY SELLS STOCKS BUT MOMO BUYS. The Morning Capsule stated:
Smart money is selling stocks in the early trade.