The sell-off in momentum stocks is accelerating to the downside. Is it time to buy or is there more pain ahead?
The Nasdaq 100, which is a good proxy for momentum as the index includes high fliers in the Internet and biotech sectors, is down more than 7 percent this month and has fallen nearly 14 percent for the year.
Moreover, the four FANG stocks are on average down more than 17 percent this year versus the , which has fallen about 10 percent. FANG is an acronym created by CNBC's Jim Cramer for a basket of high-growth technology stocks — Facebook, Amazon.com, Netflix and Alphabet (formerly known as Google).
Here is what Wall Street's top analysts and traders believe about the near-term prospects for momentum stocks.