How to Spot a “Blood in the Streets” Opportunity in Big Tech

In early June 2019, markets pulled back sharply.

And it wasn’t just because of the trade war. This time, falling knives in big tech forced the NASDAQ into correction territory. All thanks to antitrust regulator’s plans that could lead to broader oversight on Facebook, Google, and Amazon.

And the herd reacted. As shares of these stocks plummeted, it created opportunity, which was ultimately proven out by late June. The key is to know when a stock is likely to make a reversal and rebound. (AMZN) 

Shares of Amazon were down $81.50, or 4.6% after a Washington Post report noted that U.S. antitrust enforcement agencies may have a new agreement on tech oversight.  According to The Washington Post,

"The move is the result of the FTC and the Department of Justice, the U.S. government’s leading antitrust enforcement agencies, quietly divvying up competition oversight of two of the country's top tech companies, according to those people, who spoke on the condition of anonymity because the government's work is confidential. The Justice Department is set to have more jurisdiction over Google, The Washington Post reported on Friday, paving the way for a potential investigation of the search-and-advertising giant."

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Facebook (FB) 

Facebook also took a hit on a Wall Street Journal report that the U.S. FTC will be able to examine the effect of FB company practices on digital competition.

"The FTC secured the rights to begin a potential investigation of Facebook and whether it has engaged in unlawful monopolistic practices as part of an agreement that allowed the Justice Department to take the reins in a Google probe, according to people familiar with the matter. The FTC and Justice Department share authority to enforce U.S. antitrust law and at times must work out turf arrangements regarding which agency will handle what issues," they noted.

Alphabet Inc. (GOOG) 

GOOG dropped after The Wall Street Journal said the U.S. Justice Department is prepping an antitrust investigation. "The FTC and the department have been in talks recently on who would oversee any new antitrust investigation of a leading U.S. tech giant, and the commission agreed to give the Justice Department jurisdiction over Google, the people said. With turf now settled, the department is preparing to closely examine Google’s business practices related to its search and other businesses," as reported.

While each are plunging on the news as falling knives, at some point each will become a “blood in the streets” opportunity, as Baron Rothschild would say.

How to Spot a Potential Bottom in Each

Remember, fear does incredible things to the herd, and to stocks.

But at some point, that fear becomes greatly overdone. And the best way to spot where things may have gotten way out of hand is with four key technical indicators, including Bollinger Bands (2,20), moving average convergence divergence (MACD), relative strength (RSI) and Williams’ %R.  When each agrees with the others in overbought or oversold territory, we soon see a pivot.

As it turned out, each of these stocks rebounded nicely.

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