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July 29, 2018 | FAANG Stocks Finally Lose Their Cool

Rick Ackerman

Rick Ackerman is the editor of Rick’s Picks, an online service geared to traders of stocks, options, index futures and commodities. His detailed trading strategies have appeared since the early 1990s in Black Box Forecasts, a newsletter he founded that originally was geared to professional option traders. Barron’s once labeled him an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case. He received a $200,000 reward when a conviction resulted, and the story was retold on TV’s FBI: The Untold Story. His professional background includes 12 years as a market maker in the pits of the Pacific Coast Exchange, three as an investigator with renowned San Francisco private eye Hal Lipset, seven as a reporter and newspaper editor, three as a columnist for the Sunday San Francisco Examiner, and two decades as a contributor to publications ranging from Barron’s to The Antiquarian Bookman to Fleet Street Letter and Utne Reader.

The aging bull market has grown much more difficult to handicap now that the FAANG stocks have lost their cool. Two of them, NFLX and FB, got slammed last week on news suggesting that subscriber growth was weakening. Then, on Friday, AMZN reversed a rally sharply, unable to hold gains following an upbeat earnings report the day before. What’s a portfolio manager to do when he or she can no longer throw money at a bare handful of stocks in order to make a pile of money? We may be about to find out, since betting everything on the FAANGs and letting it ride no longer seems to be a sure thing.

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July 29th, 2018

Posted In: Rick's Picks

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