Author Archives: Tim Knight

The New Boremal

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This market has had the “market” beaten out of it. If I had any sense – – or, more precisely, if I had the sense to not have any sense – – I’d just throw charts and reason out the window and dump my entire net worth into SPY calls so I could spend the next ten years cleaning out my nostrils. But I’m not dumb enough to be smart, so I can only sit back and watch, slack-jawed.

Take the chart below, for instance, from which I’ve removed the price bars; I merely show a trio of exponential moving averages (50, 100, 200) against the S&P 500 index.

1220-spx

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Drug Bomb

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Another occasional winner, folks! And this one is a doozy.

In my video to everyone from Sunday, Santa Claws Part 3, one of my short ideas was IMGN (by chance, it happens to be the thumbnail image of the video). It lost half its value this morning, even though, as the geniuses at CNBC might say, it is “off the lows”. Still, this is the kind of short position that is oh-so-sweet when it works:

1219-IMGN