FANG Stocks Are Bouncing
Warren Bevan | Jun 29, 2016 04:01AM ET
Ah, I love summer with music festivals and lazy hazy days with some trading smattered into the mix.
We’re set to bounce now from what I see and I’m into quite a few stocks now with 10% weighting into each of the following: SPDR S&P 500 (NYSE:SPY), Gilead Sciences Inc (NASDAQ:GILD), Facebook Inc (NASDAQ:FB), Amazon.com Inc (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOGL), Tesla Motors Inc (NASDAQ:TSLA), Netflix Inc (NASDAQ:NFLX), and Acacia Communications Inc (NASDAQ:ACIA).
I held overnight and am looking for some strong bounces into the end of the week.
I’m still looking at these trades as being swing trades and I am not giving them much room for stops.
A nice move off the 200 level and 200 day average area made me buy a 10% weighting at 202 late today.
Stops are right around cost and I’d like to lock in gains at 207 or higher if the trade lets me.
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