Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally is looking strong, the Dow Jones and S&P 500 at record highs and a steady stream of breakouts from a variety of industries. But the Nasdaq and growth stocks generally are struggling once again.
CAN SLIM investors tend to have a bias toward growth, especially highly valued growth stocks, because they typically offer the best opportunities for huge gains. But ultimately, CAN SLIM investors need to follow the market, including which stocks and sectors are leading right now.
In 2020, highly valued growth names had a tremendous year. Tesla stock, Roku (ROKU), Square (SQ) and Teladoc Health (TDOC) delivered massive gains. As major holdings across ARK Invest ETFs, including ARKK, they fueled huge returns for Cathie Wood’s vehicles.
But this is 2021, not 2020. All of these stocks are showing significant damage. Tesla (TSLA) and Square…