Small caps, momo names back in penalty box


A familiar pattern repeats as a sharp selloff in small caps (IWM -1.8%) and tech momentum names lead the broader decline in equities. The Nasdaq (QQQ -1%) is managing a sizable dip even as Apple gains 3%Down 4.4% today, Facebook is back to about flat YTD, Twitter -4% on the session, is lower by 37% YTD. The iShares Biotech ETF (IBB -2.6%) has moved into the red for the year.

Leading S&P 500 (SPY -0.4%) decliners are Bank of America -5.6% after suspending its capital plan, and Google -1.9%.

What sector's working today? Consumer staples (XLP +0.8%). Proctor & Gamble +1.5%, Altria +2.3%, Pepsi +1.6%, Phillip Morris +1%.

Index ETFs: SPY, QQQ, SH, IWM, TZA, TNA, SSO, SDS, PSQ, VOO, IVV, SPXU, UWM, UPRO, TQQQ, VB, SPXL, QID, IJR, RSP, SQQQ, SLY, QLD, RWJ, RWL, EPS, URTY, SCHA, TWM, RWM, SRTY, DWAS, BXUB, SAA, QQEW, VTWO, QQQE, TRND, VIOO, SFLA, SDD, QQXT, SBB, BXUC, RSCO, SPLX, JKJ, FYX, BXDB, XSLV, TNDQ, EWRS, TWOK, SMLV, PXSC

Consumer staples ETFs: XLP, VDC, FXG, RHS, FSTA, PSL, PSCC

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Comments (3)
  • Ethics-
    , contributor
    Comments (156) | Send Message
     
    Buying on the dip and hopefully not the shoulder.
    28 Apr 2014, 01:31 PM Reply Like
  • WallStreetSavage
    , contributor
    Comments (2) | Send Message
     
    $SQQQ took a dip to $55 then rocket up to upper $58s!
    How long will this uptrend last??
    28 Apr 2014, 02:30 PM Reply Like
  • Francogarabaldi
    , contributor
    Comments (20) | Send Message
     
    It is more than about time names like LNKD, AMZN, FB get the pummeling they deserve. Where do these analysts come from? I know, all the best schools, right?
    28 Apr 2014, 02:30 PM Reply Like
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