In a market like this, maybe I should just stick to long ideas. On Friday, I suggested that Sky-Mobi was breaking out to the upside. Well, the next trading day (today), it’s up about 13% (at least as of now, when I’m typing this). It might relax some to fill that gap, but long-term, this stock looks even better than it did Friday.
It’s been literally six months since we’ve had a selloff like today’s, and it was delightful. Of course, Colonel Kilgore’s warning that “…someday, this war’s gonna end……” is echoing in my mind, since Yellen and her ilk always come along and screw things up just when it’s getting fun.
In any case, here are a few charts to allay my blogger’s guilt (and I must say, I am NOT feeling guilty about my Slope+ ideas in recent weeks, because Good God Almighty, there have been some gems in there………….it’s particularly gratifying, since a lot of annual renewals have been coming up in recent days!) (more…)
My Slope+ folks (again – I think it was them – - my brain is tapioca) saw GNW as a suggested short last weekend, and it paid off yesterday – - but then again today. This chart is a little out of date, because now, it has even sliced through the Fibonacci fan level shown! I originally was showing this to illustrate how it had nailed the fan line, but the market is so weak, even that isn’t holding it up.