Author Archives: Tim Knight

Bancolombia

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Just about every day for weeks now, I’ve been thinking, “CIB sure looks like a huge topping pattern; I should short it, but it’s already gone down so much.” But then it would just keep sinking. So I finally threw my hands up and decided that the enormity of the pattern would take care of everything in the end. Thus, yesterday, I shorted it. Here ya go:

0303-cib

Alibaba Shareholders Now 100% Losers

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Jack Ma has managed to do it again, having made his fortune during the Internet bubble (only to stand aside as all his shareholders got wiped out). He went public again last year to huge fanfare, and with his stock at a lifetime low, 100% of the entire who was blinkered enough to buy his stock has a loss, some of whom having lost over 30% in a matter of months. At least he’s still one handsome sumbitch. Oh, and by the way, this is in the context of a surging NASDAQ near the highest levels of human history.

0303-BABA

Top Tick Tyler

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There are a couple of publications I have read on a daily basis for many years, and with each passing day, they both annoy me more: one of them is ZH, and the other is, as I like to say, from “our friends in Gainesville.”

Regarding the latter, I don’t know why I bother. Back during the financial crisis, which I think was about four or five hundred years ago, I was convinced that Elliott Wave truly was the key to the universe. How shall I put this? I, umm, don’t think so anymore. I’d go so far as to say that, in my opinion, Elliott Wave offers not only zero predictive value but can be so profoundly misleading as to be harmful. Yet I still read the stuff, although with rapidly diminishing interest.

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