Well, there’s just no doubt about it. I have a lot more fun with down markets than up markets. Last week was a total kick. Today was all about defense.
It’s no shock, though. As I mentioned repeatedly last week, and during the weekend, this brief “shock spikes” in the VIX tend to vanish quickly. Until a missile actually explodes somewhere, it looks like everything is calm once more.
This weekend, I asked for requests with respect to SlopeCharts. I got a bunch of them, many of them quite helpful. One in particular was a forehead-smacker for me……..
You may recall that in the comments section, if you precede a symbol with a dollar sign, it will magically turn it into a hyperlink……
Well, until someone pointed it out, I was using FinViz – – instead of my OWN freakin’ charts!
I have corrected this, so now when you see a linked symbol, you will get SlopeCharts, as the good Lord intended. I can’t believe I didn’t realize this until a kind Sloper pointed it out. Thank you!
Long Kratos Defense & Security Solutions (KTOS)
On Friday, this tumbled into my Twitter feed, attributed to Gartman:
And, so, as federal law requires, equities are UP and crude oil is DOWN right now.
I love the crude oil chart as a short, and I’m short USO as we speak (well, neither of us is speaking – – or at least I’m not – – and if you’re talking to your screen right now, you’ve got worse problems than either of us). Anyway, here’s what I see:
FirstEnergy Corp. (FE) established tight base over the last two weeks and break of resistance in the 32.4 area could trigger new up wave.
It took me about eight years or so, but I finally learned not to swallow all the weekend doom porn from ZH. On Saturday, I sent out this tweet in response to something they posted about oh-how-awesome the collapse on Sunday’s Globex market would be:
And here we are Monday morning before the open………with double digit green figures on all equity markets. (more…)