Some tech stocks are overheated and here is why

Discussion in 'Stocks' started by hajimow, Jun 16, 2010.

  1. hajimow


    This is true for almost all overheated , overbought stocks.

    1-Retail sales were down in May
    2- Best Buy sales was down
    3- Housing is still down
    4- Oil spill has put many people out of jobs in 4 states at least
    5- About 30,000 US employees are working for BP that many people who work in exploration and drilling, their jobs are halted
    6- 8K rebate for housing is gone,
    7- Dollar has become strong and Euro/dollar ration will affect the companies earnings

    Market is not a sell but is a good time to sell and cash out some profit and stay on the sidelines till it retreats a little. many stocks are good for short term shorting.

    Shorting QQQQ, LLTC, ADI, ALTR
  2. da-net



    Was trying out some of the features of barchart today, just to look see different things. Scanned the charts of their top 100 for the day, two popped up that were extreme examples of overbought IMO


    would these qualify for your overheated / overbought stocks?

    edit: sorry corrected symbol...must be dyslexic day:D
  3. hajimow


    CURUS sure is overbought but I could not find DPTI