12Sep11:01 amEST

Better Social Skills

The SOCL, social media ETF, is just one of a few exotic ETFs we have been tracking for Members this year as quietly outperforming. Another one is LIT, the lithium ETF which has seen a surge in conjunction with the need for lithium in batteries (think: Tesla). 

But regarding SOCL, clearly the strength in China social and internet firms (BABA BIDU WB etc.) has been a boon for the ETF. And now we are looking to see whether the domestic internet and social firms can follow suit. 

Of course, we know Facebook is a tried and true market leader, acting like one since 2013 with no real signs of cracking yet.

However, a more broad-based rally in U.S. social and internet firm would of course be more bullish. And that brings us to the next tier of names.

YELP is a name I have been long for over a week now, looking for the tight daily chart base to resolve higher. In addition, the likes of TWTR are improving, as the long-term laggard is back into gap-fill territory as we speak ($19.27 is the precise gap above). It may be asking too much to expect the likes of Pandora and SNAP to immediately improve, but they would need to at least stop going down to think broad-based sector rally. 

And lest we forget Zynga, a name a few of our Members are watching closely. 

On the ZNGA daily chart, below, the online gaming play has quietly been shaping up nicely with a sideways base above all rising moving averages. A push over $3.80 now give the name a chance for an intriguing breakout to piggyback the SOCL rally. 

Stock Market Recap 09/11/17 ... An EZ Tell on Gold


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