AMZN, GOOGL Up On Strong FB Numbers
Warren Bevan | Jul 28, 2016 12:36AM ET
“If everyone is thinking alike, then somebody isn’t thinking.” George S. Patton
Great action once again today as the Fed did nothing as was expected.
Facebook Inc (NASDAQ:FB) is moving well after great numbers and I may have a real winner on my hands with this one after seeing Gilead Sciences Inc (NASDAQ:GILD) and Netflix Inc (NASDAQ:NFLX) hit on their earnings, but now they are turning back up making buying the dips quite acceptable.
Amazon.com Inc (NASDAQ:AMZN) and Alphabet Inc (NASDAQ:GOOGL) are up tonight on FB as well and they report Thursday after the close so it could be another great week for us in the end.
SPDR S&P 500 (NYSE:SPY) remains in this horizontal channel which continues to imply higher prices are to come.
I’m still long SPY from 202 with a 10% weighting with 215 or so still my stop area.
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