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Gold Drops After Blow-Off Top Signal; Netflix Disappoints; Tesla Earnings Ahead - Apple (NASDAQ:AAPL)
Benzinga· 2025-10-22 16:50
Core Insights - The article discusses the recent trends in gold and stock markets, highlighting a significant sell-off in gold following a "blow-off top" signal, while also noting the behavior of the "meme crowd" in stock trading [11]. Gold Market - The SPDR Gold Trust (GLD) has experienced the worst sell-off in 12 years after a blow-off top signal was issued, indicating a tactical recommendation to take partial profits [11]. - Prior to the sell-off, gold ETF (GLD) saw the highest option activity on record, with a notable increase in buying from the meme crowd after gold crossed $4000 [11]. - The strategic target for gold remains at $6000, with a potential path to $10,000 despite the recent downturn [11]. Stock Market Trends - Money flows in major stocks show positive trends for Alphabet Inc (GOOG) and Microsoft Corp (MSFT), while Amazon (AMZN), Meta Platforms (META), and Apple (AAPL) are experiencing negative flows [5][6]. - The sentiment among the "momo crowd" has shifted from extremely positive to negative in a short period, impacting speculative stocks significantly [11]. - Notable declines in specific stocks include AST SpaceMobile Inc (ASTS) down 30.3%, Oklo Inc (OKLO) down 30.9%, and Rigetti Computing Inc (RGTI) down 33.3% from their highs [11]. Investor Sentiment - Overall sentiment remains in the extreme positive zone despite the recent negative shift among the momo crowd, which has historically influenced market movements [11]. - The article emphasizes the importance of monitoring sentiment, suggesting that aggressive buying should occur during extreme negative sentiment and hedging during extreme positive sentiment [11].