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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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...

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