Judgment Day for Some Momentum Names
Some momentum names are heading into the graveyard today. Actually, today is the burial, and they've been heading there for some time now. Europe should thank them, as they've taken some of the spotlight and a lot of Twitter chatter (Twatter?) away from the problems there, at least for the day, and with more earnings yet to come, maybe another reprieve. Though that's unlikely, since tomorrow could be the grand unveiling or the grand failing, depending on what is said.
I imagine Amazon (AMZN) will be the spotlight star this evening. Although I expect a decent move here, I don't expect anything like we've seen in Apple (AAPL), Google (GOOG) or Netflix (NFLX). I am looking for a move in the 4.5% to 6% range. I think most are pessimistic on this one as well, given recent action in the highfliers, but Amazon seems to be resilient....252 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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