To gain an edge, this is what you need to know now.
Heavy Losses
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows aggressive momo buying after the Fed announcement yesterday.
- Take a look at charts of momo’s favorite stocks and you will find that the moves were many times more than the move in QQQ. Many momo stocks went up 8 – 25% yesterday afternoon.
- Smart money had started selling momo stocks right near the close yesterday.
- The chart shows that today smart money has continued to sell momo stocks.