Sam McElroy returns… During most of the bull market, momo money flows have been positive to extremely positive in FAANG stocks. Now for the first time, there are early signs of the momo crowd turning on FAANG stocks.
To be clear, this is not an all out “sell” signal on FAANG stocks for two reasons.
• The smart money is still not selling into the weakness. As The Arora Report has been sharing with its subscribers, the smart money has been lightly selling into the strength.
• The momo crowd is fickle.