It's a tale of two markets and now the selling in new tech names is lurching toward panic. The Trade Desk (TTD) posted a monster beat on revenue, earnings by $0.60 and upped guidance. In addition, management announced a stock split. The shares are down 21%, nonetheless.
The flip side is value continues to erupt higher. We’ve made adjustments, so have good exposure.
Mega growth names didn't get off to a great start after Citigroup (C) downgraded two stalwarts before the opening bell: Facebook (FB) and Alphabet (GOOGL).
The good news is there are some amazing opportunities on the growth side, but the trick is getting in too soon. I would rather chase at this point, having been burned a couple times when looking only at fundamentals.
There is also the aftermath of the jobs report, which is now being seen as possibly triggering wage inflation soon.
Here's the good news: yields are stable, and money is staying in equities - that is important. We have cash and are overweight in some of the hottest sectors. To get started on our premium Hotline service, email us at Info@wstreet.com.