HEAVY MOMO BUYING IN STOCKS ON OPTIMISM OVER APPLE, TESLA AND NETFLIX
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know now.
Momo Optimism Wins Over Concerns
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- In the early morning, the non-momo crowd was selling on concerns over inflation and earnings. At the same time, the momo crowd was buying based on pumps in social media over the weekend.
- After the market opened, momo buying became very aggressive on optimism over the following:
- Two analysts raised their targets on NFLX given the success of Squid Game. Media stocks in Korea are surging over Squid Game success.
October 19, 2021