Morning Preview: 3 Market Developments That Are Trending On StockTwits

In today’s Tuesday morning preview we are looking at 3 developments that are seeing huge increases in social activity on StockTwits. This includes total message volume and sentiment. Here they are:

1.) Amazon ($AMZN) is down 25% over the last 3 months. Its latest earnings report is part of the reason. But $AMZN has also fallen victim to the viscous momentum selling meme that has grasped the market since February. Of all the momentum stocks selling off right now, Amazon is the one to watch most closely. We’re in the midst of witnessing a huge evisceration of wealth. $34 billion has already been wiped off its market cap, and yet it still holds a market cap of $134 billion. It could get very ugly if this drop continues:

$AMZN This is at a huge do or die weekly support line back to Dec '11 $QQQ, 286 is Fib support http://stks.co/p0G4q

— InvestingJungle (@InvestingJungle) Apr. 27 at 11:31 PM

anything with PE north 100 is smashed. make a list. and 60min range fails so will the pain thresholds. rinse & repeat $LNKD $AMZN etc

— dan shapiro (@danshep55) Apr. 28 at 01:01 PM

 
 

2.) Here is a table that perfectly illustrates the continuation of the “no-mentum” trend that has taken place so far this year. The table shows how far the most talked about tech stocks have dropped from their highs. Twitter ($TWTR) leads the pack, but keep in mind they report earnings after the closing bell today:

$AMZN $TWTR $FB % from highs. These are things normally not seen in bull markets, I'm guessing. http://stks.co/b0UBL

— The Irrelevant Investor (@MichaelBatnick) Apr. 28 at 02:39 PM

 
 

3.) Despite the market’s choppiness this year, and the fact it is still only flat year-to-date, there is one positive development taking place. Under the surface there appears to be a heating M&A market. Yesterday, there were 3 big announcements. Below we’ve embedded several messages that point to even more activity. Biotech seems to be leading the way:

$SHPG jumping ~6.5% after report of possible $AGN bid for the company.

— Paul Johnson (@StkCon) Apr. 28 at 03:12 PM

Bill Ackman and the Great Botox Buyout – why the deal makes a lot of sense – http://stks.co/c0TnN $VRX $AGN

— Wyatt Research (@wyattresearch) Apr. 25 at 01:46 PM

Mylan $MYL and Pfizer $PFE are said to be in talks to buy Wockhardt's Indian assets, according to ET Now

— FinancialJuice (@FinancialJuice) Apr. 29 at 05:23 AM

Lot's going on today between @pfizer and @AstraZeneca and their potential merger | Discuss and rate | http://stks.co/q0FnI $PFE $AZN

— medtechy (@medtechy) Apr. 28 at 11:58 AM


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