If anyone doubted just how over-priced the '4 horsemen' were, just look at how they got clobbered today.
AMZN down over $5
AAPL down over $10 from it's high.
RIMM down over $10 at one time
GOOG down almost $20 from it's high.
Those are intraday numbers. Now don't tell me these stocks are worth where they're trading because if they lose support that easily, then someone is dead wrong.
Honestly, the reason they fell apart like this is simple -- the inflows of retirement money ended typically as it always does 3 to 4 days after the start of the quarter. So, all that money that forces funds to buy runs out and those funds stop buying. That leaves these things to trade on their own. And, as you can see, left to themselves they have nothing behind them.
It looks like the 4 horsemen have no clothes.
Now, the key here will be to see just how low they go. There might be a great entry coming up in all but AMZN. That thing's a joke no matter what it does. Over shorted POS.
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