Well, thanks for Mario’s negative-er interest rates, the Euro is in a free fall. I’m pleased to see this, because I’ve been harping endlessly on shorting the Euro over in Slope Plus-land. My initial “heads up” about this trade was on July 16th, when I showed the break in this trendline:
I’ve read enough bad-mouthing about FireEye on Slope to take an interest in it, so two days ago, I shorted a meaningful amount. I knew earnings were coming up, and I was a little chagrined to see the stock pop up over 2% after hours Tuesday evening. Well, my concerns were unnecessary, as the chart reveals.. We are now in a market where piece o’crap stocks are actually allowed to keep plunging. (UPDATE: I wrote this post twenty-four hours ago, so it’s even less germane now, but all the same, I like the way this stock looks on the short side).
A gallery of some recent Slope and Slope+ victories recently………..as my Slope Plus readers know, I have a very specific opinion about “The Road Ahead”, so I’ve taken profits on a portion of my shorts.
Well, now that the market is beginning to fall to pieces, I’m in freakin’ Eastern Europe. Oh, well – – I’ve got fast Internet, an ungodly luxurious suite, and three laptops, so it’s not all pain and suffering. I’d just like to be even more into it than I am.
On the one hand, the market is very – – and I hate this word – oversold. One look at the ES shows you that we’ve rammed against a meaningful support line, and we could easily bounce to about 1942.50……… (more…)