I used to hardly pay Global X Social Media Index (SOCL.O), the social media fund, hardly any notice, but it’s actually a pretty interesting way to view that space as a whole for good set-ups. As my Slope+ readers know, I offered some very specific suggestions with respect to taking advantage of a bullish setup in Facebook Inc (NASDAQ:FB) and LinkedIn Corporation (NYSE:LNKD) (yes, I'm buying calls, can you believe it?) Suffice it to say, they worked out nicely; a 79% profit in two days:
Of course, now I’m wishing I had put my entire net worth into these things……….but prudence dicated otherwise!
In any case, I think social media is set up for some prolonged savagery. This broadening top is cleanly broken, and I think the stinkiest of the stocks – - like, oh, say, Twitter Inc (NYSE:TWTR) – - are in trouble.
