Does Ohio Medicaid Cover Viagra Stocks like Netflix, Inc. (NASDAQ:NFLX), Tesla Motors Inc (NASDAQ:TSLA) and even the iShares NASDAQ Biotechnology Index (NASDAQ:IBB) are all taking a heavy hit today. This is somewhat unusual on the first day back from a three day holiday weekend. Additionally, it is strange because these stocks have been leading the charge and taking the markets to new all-time highs recently.
As these high volatility stocks Netflix, Tesla and the Biotechnology Index take a hit today, it must make intelligent investors wonder if it is a signal of an impending pull back in the stock market. Usually, a light volume first day back from a holiday is a flat to positive day, with stocks floating higher. This is not what we are seeing today and screams of manipulation last week to get the day above 17,000. Either way, this weakness in high beta stocks should be noted.
One day does not change a trend, however, it does need to be watched closely. Any follow through in the coming days may spell trouble for the whole market, not just the high beta stocks.
Writing College Admission Essays Gareth Soloway