$SPY - Everyone says they want a pullback in stocks but as soon as one happens they get scared and don't buy.
Markets pulling back this morning. Especially growth stocks. The rumor is that the selling is out of growth names as everyone wants the new and shiny growth name that IPOs on Friday, $BABA.
I'm trying to get some shares but looks like it will be hard to get them at the IPO proce. That leaves first day trading - uh, ouch. But since folks have FB and TWTR as a recent reference it seems folks expect a pullback after the IPO. Which means there probably won't be a pullback. Lol. Play small on day one to get a toe in the water, and keep some powder dry for later?
Hmm.
Looking at my watch list, the "who's who" of growth stocks getting sold hard. I'm not doing much until Thursday or Friday.