Selling Momo Stocks
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- Smart money is selling momo stocks on the prospect of the Fed being boxed.
- Smart money is buying economically sensitive stocks and value stocks. Examples include AIG, C, FCX, GT, and X.
- The chart shows that the price of QQQ has not recovered since the drop on the jobs report even though DJIA is strong – up over 100 points as of this writing.