Posted on 04/10/2014 9:53:54 AM PDT by John W
U.S. stocks slid on Thursday, with biotechnology and technology shares resuming declines after a two-day jump, as investors sought dividend-paying stocks and shed those viewed as risky.
"Clearly investors are nervous about high-flying momentum stocks. There is a rethink on whether better earnings and economic data will support a resumption of the momentum that was driving biotechnology and higher-flying technology stocks earlier in the year," said Kate Warne, investment strategist at Edward Jones.
"We're back to a valuation focus; investors are gravitating towards something tangible, like earnings and revenue," said Jack Ablin, chief investment officer at BMO Private Bank.
Momentum stocks including Tesla Motors, Facebook, Google, Priceline Group and Amazon.com declined, along with biotechnology companies, with Pacific Biosciences of California, Zogenix and Chemocentrys among those slammed.
"We're entering earnings season and they are not going to have much to show," said Ablin of new technology and biotech firms that have seen their shares run-up on bets for future performance.
(Excerpt) Read more at cnbc.com ...
no chit
I’ve been out of the market and in cash for about 7 weeks now. On the sidelines waiting for the drop to come.
LOL!
Down 200.10(1.22%) 1:22PM EDT
My own portfolio and the portfolio I manage are hardly down at all. They are full of value stocks paying good dividends. I have lots of extra cash to buy more if that kind of stock goes down enough too, but so far they are holding pretty steady - in fact, some of them are up. SO +.02, T +.32, PM +.17.
Down 246.54(1.50%) 3:04PM EDT
Down 266.96(1.62%) 4:32PM EDT
Test
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