2021-12-28

Nuke the NextGen Economy

A "NextGen" economy ETF. double top in place and it failed at resistance.
Notable: this isn't only a bunch of aggressive tech stocks. There are a bunch of those holdings, Coinbase is tops at 2.23 percent of assets, but here's as many holdings as I can fit with a screen shot. Lots of "blue chips" too:
Generally, I don't likefunds with lots of filler stocks. I remember a nanotech ETF from PowerShares (now Invesco funds) that had a bunch of stocks like IBM and GE in the top holdings. I want pure plays if possible. In this case, not being a pure-play is a plus for BLCN because it'll probably hold up better in a bear market. However, what's interesting about the portfolio is how it might be a better representation of investor exposure in tech. There's a double-top in place with a target of $36, below the blue trendline. If BLCN is going down clsoe to 20 percent, the weaker stocks in the portfolio will be dropping 30 to 40 percent.

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