that have now started a trend. I truly thought this summer was going to be the summer of pent up demand but its turned into the summer of discouraging and deflating demand. [more]
YELP reports next week, but Yikes should be its real symbol trading at a 200 X Earnings multiple. Can this stock ever meet the hype that current investors are placing on its earnings growth? It probably doesn't matter if it can or not because shorts have had no luck betting against it, other than the little time span during the spring when they crushed the stock by nearly -50% from the high. [more]
The big boys return from summer vacations soon and those that have inside track on their trading strategy will decide the short-term market move but once the big boys are back in town anyone on the wrong side of the trade will feel big pain. This market is overheated in the short-term and historical norms suggest a 10% minimum correction. If that does not happen in Sept then we are headed towards a 1987 market type crash in Oct.