Daily Archives: May 11, 2017

Vee Movie

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Apologies for the very late post again today. Wednesday is my biggest charting night of the week at theartofchart.net and I was up until 4am. When I get to my desk every morning I also review and publish charts on currently nineteen different futures and forex pairs with a premarket video looking at any changes of interest on each. Even though I live to chart I tend to get a bit tired on Thursdays.

There’s a running trader’s joke about types of days that can set up in the morning and then play out over the rest of the trading day. It’s like a movie when you watch the first part and you have a pretty good idea how the rest plays out. Some tape movies, such as Buy The Dip movies are very common, but today’s was a rarer variety that I have christened the Vee Movie.

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Slope vs. Wall Street

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Just for a bit of perspective…………

Short Now And Profit – a sneering takedown of SNAP’s IPO, stating, and I quote, “everything – – everything!! – – about this company screams “ridiculous overvalued bubble”, including, but not limited to, Evan Spiegel’s smug little cleft-chinned face on every magazine cover” and I conclude “Next stop: the teens.”

Snap, Crackle, and Proof” – a much kinder, gentler examination of the Snap organization, about which I speculate “probably owns the world’s largest collection of child pornography

Highly-paid Wall Street analysts, however, had a different take on this, umm, “investment”, as expressed by their buy/sell/hold recommendations on SNAP:

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So, yeah – – 30 of them with a “Buy” or “Hold” and 4………count ’em, 4………with a “Sell”.

Let’s see at the close of trading today whose opinion was right.