By Nigam Arora
3/24/2020 Negative Views
To fearless investors gobbling up stocks: This rally has a better-than-even chance of failing
1:20 PM ET 3/24/20 | MarketWatch
| ymbol | Last | % Chg |
| 239.78 | 6.87% | |
| 45.53 | 9.34% |
Heavy buying
I have often written that investors ought to watch semiconductors because they have been the leading indicators. As of this writing, heavy buying is occurring in stocks such as Intel (INTC), AMD (AMD) and Micron Technology (MU).
It is also important to watch mega-cap tech stocks. The heaviest buying is occurring in Amazon (AMZN) and Microsoft (MSFT). Buying in Apple (AAPL), Facebook (FB) and Alphabet (GOOGL) (GOOGL) is not as strong. The inference from the difference between those buying patterns is that the rally is suspect.
There is also heavy buying in cruise line stocks Royal Caribbean (RCL), Carnival (CCL) and Norwegian Cruise Line (NCLH).
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