• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Technology

Dip Buyers Are Losing Their Confidence -- And They Have No Interest in Facebook

The longer the stock market goes without a better bounce, the bigger the risk.
By JAMES "REV SHARK" DEPORRE
Mar 19, 2018 | 11:06 AM EDT
Stocks quotes in this article: QQQ, FB, HTGM, BZUN, OCUL, AMSC

We have a dismal start to the week with the dip buyers lacking confidence to buy into this weakness so far. Breadth is poor at worse than three to one negative and the number of new 12-month highs is down to 60 versus 115 new 12-month lows. That tells us that chasers are taking a break.

Most notable today is the aggressiveness of the selling in the big-cap technology names. The Nasdaq 100 ETF (QQQ) is down 1.5% and the havens from last week such as Facebook (FB) , are not seeing any buying interest so far.

While there is plenty of red on the screens, I am seeing some decent relative strength in the small-cap names I follow. One of my favorites, HTG Molecular (HTGM) is acting very well into earnings later this week. My Stock of the Week, Baozun (BZUN) is steady and I'm seeing some pullbacks in stocks such as Ocular Therapeutix (OCUL) and American Superconductor (AMSC) that I want to buy.

The danger in this market is that the longer it goes without a better bounce, the bigger the risk that the confidence of the dip buyers will erode. There is some support out there this morning, but it is fragile.

There is very little technical support in the S&P 500 down to around 2700 and that is likely a concern of some of the folks that are inclined to jump on weakness.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
TAGS: Investing | U.S. Equity | Technology | Markets | How-to | Stocks

More from Technology

What's the Logical Approach on Logitech?

Bruce Kamich
Apr 14, 2021 8:42 AM EDT

Let's check out LOGI's charts and indicators and find out.

Jim Cramer: The Tale of My Apple Watch

Jim Cramer
Apr 14, 2021 6:19 AM EDT

I keep saying own Apple, don't trade it. If not? I can't help you.

AT&T's Charts Are Just Treading Water

Bruce Kamich
Apr 13, 2021 12:25 PM EDT

There's not a compelling bullish case at this point.

Here's Why We're Bullish on Cisco Systems

Bruce Kamich
Apr 13, 2021 11:45 AM EDT

Let's review the charts and indicators.

Jim Cramer: Here's Why I Love Tech

Jim Cramer
Apr 12, 2021 4:11 PM EDT

Let's look at Nvidia, Microsoft and the FAANG names to see what's really possible.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 02:42 PM EDT PAUL PRICE

    Wednesday on Real Money Pro

    Make this stock a 'part' of your portfolio.
  • 04:44 PM EDT PAUL PRICE

    Pretty Incredible + Hard to Believe

  • 11:18 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    The 5 Pillars of Exceptional Trading
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login