Lately, it’s been an extra-tricky market, and still, no real bounce in “profitless disruptors.” Case in point, ARK Innovation ETF (ARKK) already shedded 65%-85% from its peaks laying just near 52-week lows. However, there’s no real panic with mega-caps such as Apple (AAPL) and Alphabet (GOOGL) now being value names, and timely rotation into cyclicals paying off.
It feels this has been very controlled, fairly well-absorbed selling across the US indices. Where is a $VIX 30+? Where is the backwardation term structure? I’m beginning to wonder if those working on the bid side will once again be rewarded.
I’m ready to start acting more aggressively and start picking among the tech stocks that I think could post 25%-50% gains in the next six to eight months.
Here are 3 names I’m targeting right now to establish bullish positions in the next week or two.
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