High Fliers Flame Out Spectacularly
One of the most-respected chartists out there via his newsletter, The Steady Trader, InvestorPlace.com contributor Serge Berger couldn’t help but point out the painful memories of momentum stock investors in 2011 — and what it means for the new year.
“High-flier or beta-chaser stocks like Netflix (NASDAQ:NFLX), First Solar (NASDAQ:FSLR) and Sina.com (NASDAQ:SINA) came to a hard landing as global economic slowdown and Europe debt crisis fears became front-page news,” Serge writes. “As a result, many trend-follower funds had a very difficult year. At the peak this year, all of these stocks gave off a strong odor of ‘bubble.’”