FAANG Stocks Crashing

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http://www.marketwatch.com/story/its-all-over-for-the-faang-stocks-2017-06-12

>They don’t ring a bell at the top of the market, the old Wall Street saying goes, but last Friday you could hear a crack as big as the one on the Liberty Bell next to Independence Hall.

>That was when the market’s highest flyers, the so-called FAANG stocks — Facebook FB, -0.77% Amazon.com AMZN, -1.38% Apple AAPL, -2.46% Netflix NFLX, -4.18% and Alphabet (Google) GOOG, -0.73% GOOGL, -0.86% — all closed down 3% or more on huge volume.

>Unfortunately, though these are all great companies that dominate rapidly growing markets, I think their stocks’ recent big run is coming to an end.

>When super-momentum stocks like these break down, they fall hard and may take years to recover their former glory. So, unless the FAANGs hit new highs again on strong volume in the next few weeks, I’m afraid their investors—including many newbies and fan boys and girls—are in for some pain.

The tech bubble is finally starting to burst. The cancer that is silicon valley is coming to an end.