Google (oh, sorry, I forgot to use the stupid name that no one uses – Alphabet) had a pretty bad day. I’m sure the management is a bit baffled what the hell they are supposed to be doing, since blowout earnings don’t help the way they used to. Even though the stock exploded higher yesterday afternoon, it barfed all over itself Tuesday.
Among my shorts are companies that make money by developing weapons to slaughter human beings (to say nothing of the fact that Pentagon spending is, more than anything else, responsible for plunging our country into ruinous debt – – a debt that will never be repaid). Anyway, it’s nice to see war manufacturers suffer. Apocalypse Now.
Equity bulls need a “shock to the upside” to get them back into their long-accustomed feather bed of new lifetime highs every day. Some thought last weekend’s “North Korea Peace Fest” would do the trick. It didn’t. New hope was offered after Monday’s close when GOOGL announced blowout earnings. It looked like just what the doctor ordered, as the stock roared nearly 50 points higher instantly. As you can see by the tinted area below, it wasn’t exactly long-lasting, and you could almost hear the face of GOOGL call owners drop in despair.
I’m pleased to let SlopeCharts users know there are a couple of minor but helpful improvements we just made.
First, we’ve expanded the number of “quick pick” colors. I use this feature constantly, because it’s so much faster than going into the color palette. It lets you instantly change the color of any drawn object. Just right-click on anything you want to change and pick the color you like.