Twitter, Inc (TWTR) and Intel Corp (INTC) got trounced Friday.
TWTR was down 20% and INTC lost 8.5%. If you own either one of these and you’re not sure if you should sell, hold or buy more send me an email if you would like my chart thoughts. We don’t own either one… I recommended selling INTC a few weeks ago.
Twitter, Inc (TWTR) daily
Intel Corp (INTC) daily
The S&P 500 Index had another good week. That makes four up weeks in a row and the first weekly close above resistance since January. Stay long my friends.
SPDR’s S&P 500 Trust Series ETF (SPY) daily
The bond market sold off a bit this past week and stocks performed well. Take note. TLT, 20+ year Treasury Bond ETF, is trading right smack dab in the middle of where it has spent the majority of the past 7 years. This is good and as noted bond prices can spend years in this range. As I have written though, if TLT breaks 115 I would expect stocks to begin re-pricing. The word “re-pricing” is so much more sophisticated than “tanking”.
iShares Barclays 20+ Year Treasury Bond Fund (TLT) daily
So, I’m still bullish. Let price action be your guide not the noise that surrounds it. Continue to hold open recommendations.