|Day Low/High||16.20 / 16.80|
|52 Wk Low/High||9.95 / 47.80|
The selloff in speculative tech names likely has further to go. But other tech names could still do well as markets rotate.
Let's look at the charts and indicators.
High valuations, margin debt and the ARK effect could lead to more pain for some names. But the selloff could also create buying opportunities in other tech companies.
Here's the kind I like to buy -- and the vetted stocks that you can play on 'good' risk.
Three stocks top my list for plays: Velodyne Lidar, Luminar Technologies, and Collective Growth Crop.
I would consider booking profits and significantly reduce your long exposure.
What happens when the dream portion of the market collides with the real stock market?
Despite negative volatility, at this point it looks like a pause in the uptrend and not a major top.
The action in the SPAC names is classic 'hot sector' trading.
The primary focus is on the price action in individual stocks rather than macro-arguments or the technical condition of the indices.