• 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

This Market Action Is Not Like 2000

It is often at this phase that you make the biggest gains by pressing.
By JAMES "REV SHARK" DEPORRE
Aug 15, 2016 | 11:03 AM EDT
Stocks quotes in this article: AMZN, NFLX, GOOGL, ACIA, OCLR, NTES, TPIC, SPLK, TWLO, X, FB, QUOT, YRD

The very strong trading action continues, and this time the indices are participating, as well. For some reason, all four of the FANG names (Growth Seeker holding Amazon (AMZN) , Netflix (NFLX) and Action Alerts PLUS holdings Facebook (FB) and Alphabet (GOOGL) ) are in the red, but there is no shortage of momentum out there, once again. I've actually heard some traders talking about similarities to the action in 1999 to 2000, but it doesn't feel anywhere near that frothy.

Acacia Communications (ACIA) is one stock that does bring back memories of the bubble days, but most things aren't that overheated. Twilio (TWLO) continues to run, and my Stock of the Week, NetEase (NTES) , is acting well. We are also seeing follow through on some names I've highlighted recently, such as Oclaro  (OCLR) , TPI Composites (TPIC) and Splunk (SPLK) .

The action in so many stocks is positive that it is making me a bit nervous, but it is often at this phase of a rally when you make the big gains by pressing. As I discussed in my opening post, traders tend to make their big gains within a limited window, so when things are working, it generally pays to press.

I bottom-fished some US Steel ( (X) ) this morning -- and I'll discuss that later. I also like the way Quotient Technology (QUOT) continues to develop. Yirendai (YRD) is also back on the radar.

Stay focused on stock picking. It is working extremely well right now.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

At the time of publication, James "Rev Shark" DePorre was long ACIA, NTES, OCLR, TPIC, SPLK, X and QUOT, although positions may change at any time.

TAGS: Investing | U.S. Equity | Technology | Markets | Stocks

More from Technology

I'm Not in a Hurray to Buy Anything for a Trade Yet, but Consider Comcast

Timothy Collins
Mar 4, 2021 1:16 PM EST

CMCSA has a pretty good look on the daily and weekly chart.

Not Very Marvell-ous Charts

Bruce Kamich
Mar 4, 2021 1:02 PM EST

Tech company MRVL gets quantitative downgrade and has weakening charts.

Compared to the Rest of the Market, International Game Tech Looks Pretty Good

Timothy Collins
Mar 3, 2021 3:12 PM EST

This isn't an aggressive trade in my view but I'm not sure I want to be aggressive here.

An Update on the Weakening Trade Desk Charts

Bruce Kamich
Mar 3, 2021 12:55 PM EST

We're in no rush to be a buyer.

Marvell Technology Reports Wednesday, Here's My Trade Idea

Stephen Guilfoyle
Mar 3, 2021 11:17 AM EST

But, I will not be messing around with MRVL equity ahead of the digits.

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

  • 10:53 AM EST GARY BERMAN

    Nasdaq Composite: Some Backing and Filling Is Here

    As today is the 4th day of the month, it seems lik...
  • 07:59 AM EST PAUL PRICE

    Fabulous News on United Natural Foods (UNFI)

    The major potential risk factor for , its contrac...
  • 08:50 AM EST PAUL PRICE

    Michaels: Close to a Deal?

    It appears that a deal could be announced soon. ...
  • 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