No. of Recommendations: 8
if this is a sector wide "flee from risk" movement, as it appears to be, I would not count on anything except massive upside surprise to move any member of the group up. Institutions are taking profits and running.
OTOH we are seeing a waterfall decline, typical of bottoms . (tops are a process, bottoms are an event) . Unfortunately while I can quantify this for indices I have no tools for sectors.
Plus the historically nasty month of October is almost over.
Maybe the institutions have better data than we do, maybe something about the outlook for these software companies has really changed. If it were unease over the political situation the general market should be reacting too. OK maybe all this is OT but looking at these stocks only individually seems to be flawed when it is a group movement.
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