The NASDAQ was smashed on Friday and price action now favours short positions
Chris Weston
Pepperstone
The NASDAQ was smashed on Friday and price action now favours short positions. Names like Facebook and Twitter have been offloaded at a rapid pace as money managers simply don't want to hold these names given the elevated valuations. Most have known for a while that this space had 'bubble' like qualities and whether we are seeing the popping of this bubble (so to speak) is yet to be seen, but the fact the index closed below the uptrend of the June 2013 rally has been noted. Shorts favoured here.
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Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market price action and advise on actionable trade ideas and investments in multiple asset classes.
3 topics
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
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