Well, my romance with charting and trading is definitely on the rocks lately, as I’ve been seduced with a gorgeous new love interest call My Screenplay. Moments ago, I just finished a new treatment, with an entirely new third act, and if I may say so, it’s brilliant. I can’t wait to rewrite this beast, which is already a two and a half hour movie.
Anyway – – sigh – – the f*cking market, yeah. Err, well, it’s really overbought. Isn’t that stupid? But it’s the truth. Just take a look at the Dow and how much higher the prices are vis a vis the moving averages compared to prior peaks.
Anyway, yawn. Whatever. The market can blow me. There’s more to life than watching Goldman Sachs and its overprotected ilk trick the naive public for the umpteenth time. Stupid saps.
Since the lowest point of the financial crisis (whose name itself is a joke – – turns out it was a financial opportunity for the investment banks), Goldman Sachs has increased nearly 500% in value, making Lloyd a billionaire. In addition, the federal government is crammed at the very highest levels with GS alumni. If there were any justice, or a munificent God, Goldman would have gone bankrupt in late 2008, but that, of course, wasn’t allowed to happen. Well-played, Goldman. Your greed, and your success, knows no bounds.
I don’t think I ever traded a share of NVDA in my life until a few days ago (and I did this post). Nvidia came out with oh-my-Lord blowout earnings last week……..and the stocks been pooing all over itself ever since. I’ve tightened up the stop and am hanging on.
Since I did my “short gold” post for Slope Plus members on February 8th (which turned out to be the exact peak), I’ve been anxiously watching both the metal and its miners. So far, so good, and it’ll get even better if we can violate the $1210 level (approximately) to the downside, which I’ve tinted below. That would break the uptrend and give us more momentum.