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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
Nationally recognized technical trader. Background in engineering, system designs, and risk reduction. 26 years in the markets.