It’s tough to stay true to techs right now, with so many big issues swarming around the sector. Our call of the day singles out one battered biggie and says hang on because not even one of the world’s most powerful men can bring it down.
Snow and the worst start to the quarter since 1929 — so much for Wall Street’s April kickoff.
In the fallout from yesterday’s tech exodus, the S&P slipped under its 200-day moving average — a key gauge of long-term momentum — and the Dow transports tumbled into “sell” signal- land. All of which is likely to keep investors on edge today.
That jittery state is right where they belong, says the always-entertaining Dr. Fly of the iBankCoin blog: “The Trumptarded market can’t stop tripping over itself and is bound to have a fantastical conclusion. If it trades up tomorrow, fade it. If it gaps down lower — get in on the momentum train lower and short ... stocks — because margin calls are just around the bend.”
But a different sort of battle cry is heard in our call of the day, which urges investors to stick with one of the big, battered technology stocks at the heart of recent market mayhem.