Mo-Mo's Are The No-No's In Tuesday's Session

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show. In Tuesday's trading session, the mo-mo's are the no-no's as several of the better known momentum issues are trading in the red while the broad market is mostly higher. A few of them are marginally lower or flat, such Alibaba Group Holding Ltd BABA and Facebook Inc FB. However, Twitter Inc TWTR was recently off by 1.29 percent, LinkedIn Corp LNKD by 2.25 percent, Google Inc GOOG by 1.37 percent and Tesla Motors Inc TSLA by 1.7 percent. Perhaps the most noteworthy mo-mo in the red is Netflix, Inc. NFLX, which was trading lower by $2.14 at $472.54. After a series of upgrades and price target increases over the last few days, Piper Jaffray's price target increase to $487 might have the Street wondering if the issue is fully valued ahead of its earnings report after Wednesday's close. Interestingly, after peaking at $485 on Monday, it could only reach $484 in Tuesday's session before falling back into the lower $470 handle.