Facebook, Google and Twitter were set to testify in Washington today. They started dipping lower last Friday which continued yesterday and fell harder today. Google did not show because Congress wanted a CEO and not the representative that Google wanted to send. Google got bad flack from it and the parent company Alphabet sank hard. What was interesting is that Alphabet found a bottom and bounced off of it by 25 points. It was a great day to own some Put Options. See my chart below.
It was interesting that Alphabet moved higher, but Facebook, Amazon, Twitter and other tech companies did rebound a little but closed near the lows for the day. It was suggested that Alphabet could go lower on Thursday due to their vacancy at the capital. Based on what I see, they might have a small dip on Thursday but I would expect to see everything to go up for the rest of the week and the first part of next week also.
It was interesting that Alphabet moved higher, but Facebook, Amazon, Twitter and other tech companies did rebound a little but closed near the lows for the day. It was suggested that Alphabet could go lower on Thursday due to their vacancy at the capital. Based on what I see, they might have a small dip on Thursday but I would expect to see everything to go up for the rest of the week and the first part of next week also.
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