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Selling accelerated this morning after an impressive run-up produced by Fed dovishness and mega-tech stock earnings reports. It's true that over the last two days, the tech mega caps have taken a pretty good beating, but it's also just as true their recent earnings have helped fuel optimism.
But the charts don't lie: No matter how you slice it, "big tech" – especially the FANGs – is still the No. 1 destination for intermediate- to long-term investing.
"How can that be?" I can hear folks asking after the past few years of scandal upon unsavory revelation upon sell-off, "Surely these companies' best days are behind them."
About the Author
D.R. Barton, Jr., Technical Trading Specialist for Money Map Press, is a world-renowned authority on technical trading with 25 years of experience. He spent the first part of his career as a chemical engineer with DuPont. During this time, he researched and developed the trading secrets that led to his first successful research service. Thanks to the wealth he was able to create for himself and his followers, D.R. retired early to pursue his passion for investing and showing fellow investors how to build toward financial freedom.