Is it time to sell cloud computing stocks?

 

Cloud computing has had a great run and breaching through key support levels on huge volume. While this could be a shakeout, these stocks have been struggling to hold these levels, so its probably best to take profits, especially if you’re around break even or lower.

 

Dr K (Dr Chris Katcher) seems to think it is time to sell as this was showed up in my inbox earlier today:

 

 

For those not familiar with Dr K, he and Gil Morales are author’s of the current financial best seller and investment websites https://www.gilmoreport.com/and http://www.virtueofselfishinvesting.com/

 

 

The top 20 of the IBD 100 getting hit hard

Even as the indices closed mixed today, the IBD 100 took another blow. Especially the top 20 stocks of the IBD100, the cream of the crop, which took price hits on above average volume. On a positive note, the cloud computing leaders ARUN, BIDU, NTAP, VMW, FFIV are holding at 10 SMA and 20 SAM support levels, and GMCR really is the only leader to totally fall apart. Next week will be interesting…