FAANGs Too Pooped To Fool Anyone

Stocks had trouble staying aloft Tuesday after rocketing higher a day earlier. Although the Dow finished with a 117-point gain, it was up by more than 200 in the early going and probably would have finished in the red if sellers had been less timid. There were other signs of heavy distribution. For one, AAPL’s sly handlers opened the stock on the high of the day, trapping bulls before pulling the plug.  Facebook couldn’t even muster a decent head-fake at the bell, opening on a 46-cent rally that fooled almost no one. TSLA, the most heavily manipulated stock of them all, died on the come out roll, finishing the day at 307.16 with a $4.63 loss.  And NFLX, the biggest percentage loser, fell 7.93 to 352.04. Under the circumstances, DaBoyz are likely to have trouble goading shorts into covering as the week draws to a close. Look therefore for weakness over the next two days as they manipulate stocks lower in order to exhaust sellers ahead of the next run-up.

Rick’s Picks trading ‘touts’ are for educational purposes only. Past performance is no guarantee of future performance. (See full disclaimer at https://www.rickackerman.com/)