Yikes. I’m not looking forward to what I wake up to in the morning……….
There are some folks who think that Netflix, which has a triple-digit price/earnings ratio, is insanely priced. I’m a chartist, and when I see a chart like the one below, I don’t go anywhere near it, either long OR short. It’s just nuts.
Hmmm. Things are looking less sanguine in bear-land. Although the SPY gap is still firmly intact, and has plenty of cushion left:
The launch of the new Slope of Hope is, God willing, drawing close. After way more time and way more money than I ever expected, it is just about done, but I really want to make sure we get as many kinks out as possible before the launch. Please, for YOUR sake, test the site, because I will be far, far more attentive now to your weird-ass problem with your Firefox browser on a Commodore 64 than I will after we are live. I want to trace down oddities NOW, not once we’re in production. Please! With sugar on top.
The location of the new site is http://dev.slopeofhope.com. Go ahead and click that link to fire it up. Bang on it. Play with it. See what you can break.
On Friday evening, when I found out about the Syrian missile strike, I didn’t quite know what to anticipate once the market re-opened Sunday afternoon. Some folks tweeted that it would be a sea of red. I wrote that I no longer trusted bad news. My cynicism was proved correct, as the new hostilities (and increased international tensions, particularly from Russia) did nothing but goose the ES and NQ into big green numbers. They certainly had their share of swings prior to the Monday opening bell (I am typing this about 15 minutes before the regular open), losing the entire gain at one point, but we are exactly where we were Friday before the bell: at risk of cutting above that horizontal line of resistance.