FANG Is Dead - Amazon.com, Inc. (NASDAQ:AMZN) | Seeking Alpha
Here is a very important article about why the FANG stocks are dead, especially Amazon which was the leader of the group. The market believes that AMZN may be topped out on revenues because companies cannot go up forever, and we have seen the same thing happen in the decline of Apple. From a technical standpoint, Amazon's top is also confirmed by Elliott Wave theory where wave 5 is the peak of the stock or the market itself.
Nevertheless, the author also believes that Amazon will be a buy at $697 for a trade where you might want to get off at $800. Whether you accept this trade or not, you could probably find other stocks to buy on market pullbacks. For example, the Dow went up while the Nasdaq went down on the Trump victory. Therefore, UDOW (3x Dow ETF) might be a good buy for a trade whenever stocks go down because the Dow seems to like Trump. You will need to sell for a profit at some point though because we are so near the peak in the market that buy and hold is dead.
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