Two weeks ago, I issued a report to Peak Prosperity's premium subscribers, warning of an immiment downwards re-pricing of the FAANG stocks. I even made a rare recommendation for an active short position against them (one now up 18%).

That report proved quite timely. Over the past 10 days:

• Netflix (NFLX) is down 10% after issuing disappointing subscriber growth and Q3 guidance
• Facebook (FB) is down 20% after  delivering lower user and revenue numbers than the Street was expecting
• Amazon (AMZN) is flat despite posting blowout Q2 EPS, offset by a revenue miss
• Google/Alphabet (GOOGL) has managed a meager 3% rise, as earnings & revenue beats were tempered by rising costs and a record $5 billion EU anti-trust fine

This sudden weakness among key FAANG members is extremely significant. Much more so than most investors realize.

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