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FANG bites back

Those FANG stocks, which were largely responsible for aiding the US500 to end last year not in the red are having one of the worst starts to a year ever. FANG is an acronym created for a basket of top-performing technology stocks - Facebook, Amazon, Netflix and Alphabet (formerly known as Google).

Combined they account for approximately 5% of the US500, and last year posted an average gain of 80%. However all four FANG stocks are down more than 7 percent this year. Oil and China woes grab the headlines, but profit-taking by investors in these 2015 winners are one of the primary reasons the market is failing this year. 

Below is a chart of Netflix, showing the large increase last year and the pullback so far in 2016.

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