The charts of my portfoliio are looking pretty ugly. Except one. Google.
AYX - Not Bad
IQ - Not Bad
MDB - Not Bad
NEWR - Weak with a gap down below.
NKTR - Death Cross! (I have 1 share to remind me)
NTNX - Bad- under a rolling 50
OKTA - Not too bad
PVTL - Filled gap - Entry now.
SHOP - Bad, but tested support. Entry
SQ - Not bad. Support at 50 day.
ZS - Bad,gap down below
AMZN - Not bad
CDW - Not bad bounced off of support.
FB - Not bad, not bad at all. Filled gap below and has big gap above. If you believe that Facebook has decent business case, this may not be a bad entry. I am not selling, but not buying either.
GOOGL - Excellent chart. Filled gap below and is still bullish.
Of these I will sell a bit of AMZN to grab some PVTL and and will give up on NTNX and grab some ZS when it fills the gap.
Except for Facebook I believe that none of the companies deserve the beatings they have taken. As someone else pointed out, when you look at Facebook from a YPEG point of view it is still a good buy. Also, when you listen to what Facebook said, every supplier to the cloud infrustructure should be up, not down.
In a world of rising interest rates and labor costs, companies with cash, little debt and the ability to take labor out of the cost structure, are excellent companies to own.
As far as I can tell, we have a blue light special going on here, not a stock market collapse.
Note to self:
AMZN - take a little profit
NTNX - take your losses and move along.
PVTL - Buy NOW!
ZS - wait for it, the fat pitch is out there.