Junior Varsity Losers

In addition to the large, liquid, premier glamorous issues in the market (e.g. AMZN GOOG NFLX PCLN TSLA), the "junior" marquee names, with a bit less institutional sponsorship and market capitalization, but which are still quite noteworthy, have been struggling mightily of late. I have consistently charted P TWTR YELP as short ideas for several weeks, if not months. And today we are seeing even more glaring relative and absolute weakness. On their respective daily charts, below, note the downtrends flexing their power again today with the continuation lower by price. They probably should have bounced by now. But failure to do so just raises the risk of a washout for the many trapped longs in the names at this point. Regardless of other parts of the market, we know that the JV team is a weak one.