Momentum stocks tumble ahead of earnings season


Echoes of April: Following a big May/June rally that propelled the Nasdaq to new post-Dot.com bubble highs, momentum stocks are nosediving nearly across the board today.

The selloff comes ahead of Alcoa's afternoon Q2 report, the unofficial start of earnings season. Some of the cash going out of equities is flowing into Treasurys.

Notable 6%+ decliners: TWTR -7.6%. DDD -6.5%. SSYS -7.9%. P -7.7%. LNKD -7.1%. DATA -10.1%. SPLK -9.3%. WDAY -7.7%. YELP -8.3%. GOGO -6.5%. YOKU -6.6%. ZU -10.5%. NOW -6.8%.

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Comments (10)
  • manicdvln
    , contributor
    Comments (1478) | Send Message
     
    Just remember, Pandora was an 8$ stock before QE.
    8 Jul 2014, 01:04 PM Reply Like
  • Andreas Hopf
    , contributor
    Comments (16169) | Send Message
     
    That, if the decline can be sustained for a couple of weeks or months, is a good thing to then pick out the quality companies from the pump & hype vehicles for a far more realistic valuation.
    8 Jul 2014, 02:09 PM Reply Like
  • Simon View
    , contributor
    Comments (149) | Send Message
     
    Knee jerk reaction. Follow the fundamentals of greatest losers during the next 2 weeks, and, unless value/growth analysis indicates otherwise, best time to buy for the longer term.
    8 Jul 2014, 02:55 PM Reply Like
  • Market DJ
    , contributor
    Comments (914) | Send Message
     
    Seems to be a pre-earnings season sell-off the last few quarters, and those have been buying opportunities in the past....

     

    But maybe this time will be different? Like a summer of swimming with sharks?
    8 Jul 2014, 03:02 PM Reply Like
  • riskrunner
    , contributor
    Comments (465) | Send Message
     
    Just Yesterday
    I cautioned those (like myself)
    who r extremely Positive
    on DDD and SSYS that
    DDD could revisit 52
    and
    SSYS 95
    8 Jul 2014, 03:34 PM Reply Like
  • Fanebrb
    , contributor
    Comments (660) | Send Message
     
    >>> riskyruner... could, wood, should, maybe. Did I miss any?
    8 Jul 2014, 04:58 PM Reply Like
  • nap.jerry
    , contributor
    Comments (74) | Send Message
     
    None of these companies have changed drastically since yesterday. Time to build positions!
    8 Jul 2014, 11:08 PM Reply Like
  • Andreas Hopf
    , contributor
    Comments (16169) | Send Message
     
    That's exactly the point. They have not drastically changed. Which is why they are still massively overvalued.
    9 Jul 2014, 01:24 AM Reply Like
  • Robert Duval
    , contributor
    Comments (7852) | Send Message
     
    You first.
    9 Jul 2014, 08:20 AM Reply Like
  • Flanker100
    , contributor
    Comments (27) | Send Message
     
    I saw that Pyrogenesis (OTC:PYRNF), just signed a 12.5 million dollar contract to deliver 10 metal powder furnace systems to a 3d printer company. They didn't release the customers name, but I think it is Arcam. Pyrogenesis built the furnaces for A&P powdered metals. A company that Arcam just recently bought. Then again, could it be for 3D Systems. They didn't release the name of the company for competition reasons.
    9 Jul 2014, 09:15 PM Reply Like
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