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Equity Risk Selloff Continues

|Includes:Amazon.com, Inc. (AMZN), CBMX, CELG, CLVS, DATA, FB, FEYE, GILD, ICPT, ILMN, INSY, LNKD, TSLA, TWTR, WDAY, Z, ZU

After David Tepper's comments yesterday we are seeing another round of selling. The following is my reference list showing the reduction from 52 week high. Also worth noting is the C15 PE for those that have profits.

  • AMZN down 28% C15 PE 88x
  • CBMX down 53% NA
  • CLVX down 39% Note up today on clinical data. NA
  • DATA down 49% 478x
  • FB down 20% 32x
  • FEYE down 73% NA
  • GILD down 6% 10x
  • ICPT down 45% NA
  • ILMN down 23% 53x
  • INSY down 62% 10x
  • LNKD down 43% 58x
  • TSLA down 29% 58x
  • TWTR down 56% 130x
  • WDAY down 41% NA
  • Z down 12% 116x
  • ZU down 53% 68x

Personal view: GILD, FB holding firm. Selling covered calls on FB,TWTR to provide a cushion. I like Z long term as it's becoming clear that real estate advertising will increasing move to their mobile platform, but won't buy in this environment given PE. Still own INSY but uncomfortable with HHS investigation and insider selling in March. The rest I'm watching but not interested in trying to pick their bottoms. Looking for rally to sell TWTR. Hold small position in CBMX with stop at $2

Disclosure: I am long CBMX, FB, GILD, INSY, TWTR.