A big drop for U.S tech stocks on friday. Nasdaq was down -2,60% on friday. S&P 500 -1,25% and the Dow -0,96%. Nikkei is also down today, together with the other Asian markets. Nikkei is down -1,69%.
Europe is also down today. Stoxx 50 is down -0,89%. FTSE 100 -0,71%. CAC 40 -0,72% and DAX -1,24%. At the same time, you can see the commodities trading down too. Gold is down -0,16%. Silver is down -0,33%. Crude oil (Brent) -0,95%, and Copper -0,13%.
(Nasdaq: Apris 4, 2014)
Many investors have talked about the valuations in the tech stocks for a while now, and many predicted a tech bubble was on the way. I wrote about it for some weeks ago, and I said Twitter was the most expensive stock in this universe.
52 Week high for Twitter is 74,73, and the stock traded down -2,07% on friday. Twitter is down about 50% from the top very soon. Marketers are embracing Facebook over Twitter, and they will rather go for Youtube and LinkedIn before Twitter.
Sometimes investors need to take some profit and friday was a great day for that. It seems like the U.S markets will open down today. I`m excited about the trading sessions, not only today, but for the rest of this week. Take a look at the dollar. It`s up!
Tech and biotech is so far the most popular sectors in 2014, but both of them slide now. Many tech stocks are trading down in Europe too. This is a great time for daytraders. I will follow the charts this week before I start my vacation on friday. Easter bunny is waiting.
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