“What’s the deal with social networking stocks?”
Mike’s frantic email read like an investor who risked far too much.
“I risked $25,000 — my savings account — on the Facebook IPO, and it’s down by nearly half.”
What could I tell him?
Each candle on the following charts of the 4 Major Indices represents One Quarter. The last candle represents Q1 of 2013 and closed today (March 28th, since the markets are closed tomorrow for Good Friday of the Easter long weekend.
You can see at a glance that the Nasdaq 100 has lagged the other three all year, so far, and is hampered by major resistance. The Dow 30 and Russell 2000 have made a new all-time high and closing high, while the S&P 500 made an all-time closing high today (however, its all-time intraday high of 1576.09 remains unbroken and is still serving as major resistance at a formidable triple-top formation and represents an opportunity for some cannibalization to occur, as I wrote about here.).
Well, we are a few hours into the new Slope, and things are going pretty smoothly. We’ve had a couple of tiny glitches, but those have been fixed. I’ve got some “real” posts waiting in the wings, but before we get to those, I wanted to say a couple of things.
First, one bug we had was that comments were not saving their preferred order; I think we have that fixed now. Please use the settings I am recommending below for the Optimal Comment Enjoying Experience.
Also, for you Slope+ users out there, I will be emailing you today about your subscription. If you try to look at Slope+ stuff right now, it’ll probably tell you to buzz off, because I need to entitle your account. Like I said, you’ll be hearing from me today so we can get that done; thanks.
Finally, if you see any errors, please email me. I’m reading comments, but I’m not going to catch every little thing in the comment stream. Just drop me a line if you see anything broken.
Welcome Slopers, one and all, to the new Slope of Hope!
Since the vast majority of you are well-acquainted with the old blog, let me point out some important differences. I’m going to leave this post up for a good long while so lots of people see it.
(1) The Slope and SocialTrade user databases have been merged into one, and to log in, just use your email address and your password. I say again: your old username has no meaning to the new database. Use your email address from now on.