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Recent Highs To Horrible Lows

We included the following table in The Closer tonight, delivered to our Bespoke Premium and Bespoke Institutional subscribers.  It shows the staggering losses for a range of stocks that hit 52-week highs over the last three months and are now far below those high water marks.  Cloud, internet, social, growth...all are getting absolutely wrecked and nobody appears to be ready to catch the falling knives yet.  All of these stocks are solidly within the definition of a bear market (at least 20% off their highs) and look to be mired in that weakness for the foreseeable future.  At some point, investors will start seeing some bargains and go shopping.  But those lows and reversals aren't anywhere in sight yet, as anyone who established a new FEYE, P, or ZU long in the last couple of days will be happy to tell you.

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