Well, pretty-much filled, anyway. I’d say the recovery is over for this one.
How’s that for a confusing post title? Anyway, I am so short, I could jump off a dime, and I am merely adding to positions. The latest of the emerging markets ETF, symbol EEM, which is approaching a gap-fill as well as the underside of a trendline.
I have only two small screens today, not my usual eight large screens, but even in these primitive conditions, I am loving what I am seeing. Blood, chaos, and crumbling stock prices everywhere. Keep this up for a few years, and I can find my bliss. I’ll mention one stock in particular (which I’ve pointed out many, many times both here and on TT) – CREE – that has fulfilled its destiny of closing its gap. Sure, it could keep falling, but at least this goal has been met. Huzzah!
Pandora’s earnings have rolled out, and as I’m typing this, the stock is down a little more than 8% (around where I’ve put the tint). It’s a very toppy pattern, and I’d say odds are good it’s going to keep tumbling until that gap (pointed out with an arrow) is filled.