New bullish institutional money flow (IMF) came into the telecom sector anticipating continued earnings growth and positive price action performance in the sector. Although this is not a heavily weighted sector in the S&P 500 at this time, this is a “back-door” opportunity to buy into technology without overpaying because there are a number FANG tech names sprinkled in throughout the sector, such as FB, AAPL, NFLX, GOOG and CSCO just to name a few.
Given, these FANG stocks are some of the most liquid traded names in the S&P 500 as well as the NASDAQ they will have an impact on those indices movements. So in short, I am trading from the bull side.
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