Wall Street Strategies
Hello! Sign in or Register


Afternoon Note

Rough Seas

By Charles Payne, CEO & Principal Analyst
7/29/2019 1:48 PM

On the outside, it looks like the calm before the storm. But there are rough seas in today’s session.  Only the Dow is higher among the big three equity indices, and there are more losers than winners overall.  

NYSE

NASDAQ

The source of weakness stems from a piece in Barron’s suggesting internet software stocks are looking like they are forming a bubble.  Those are scary words indeed and parked significant selling across the technology spectrum.

Symbol

Name

Last

%Change

52W High

52W Low

MDB

Mongodb Inc Cl A

148.77

-5.88%

184.78

53.2

CYRN

Cyren Ltd

1.62

-5.26%

3.79

1.52

UPLD

Upland Software

45.5

-4.69%

54.87

25.12

TEAM

Atlassian Class A Ord

139.25

-4.65%

149.8

65.17

COUP

Coupa Software

139.69

-4.43%

148

52.01

VEEV

Veeva Systems

163.03

-4.36%

176.9

73.47

So, the market is marking time, but anxiety is increasing.  This means that companies with missteps and miscues could take an extra drubbing. This is something all investors need to keep in mind while analyzing profits and mitigating losses.

Conversely, these kinds of articles tend to be premature and actually create buying opportunities. These names, however, are normally relegated to our Swing Strategies, which is our short term/trading service (high Beta and higher risk).  If you are not currently a subscriber to our Swing service, click here to get start today.

 


Comments
Loved your segment with Michael Pillsbury. His book The Hundred year Jarathon is a must read. I a, not a robot 😃

Larry Hayes on 7/29/2019 4:37:46 PM
Thanks Larry Michael Pillsbury is the man. CP

Charles Payne on 7/29/2019 4:41:51 PM
 

Add Your Comment


Submitted comments are subject to moderation before posting.


Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.