No, I’m not referring to myself. I’m referring to the bubble-high, insanely-overvalued, heading-to-single-digits social media stocks. I only wrote last Thursday about what a great short Twitter was. I didn’t realize it would cooperate so swiftly. The breakdown begins:
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
SPX gapped up hard over 1874/5 resistance on Friday morning, and if that had held then that would have been a very bullish breakaway gap. Instead SPX made a very marginal new high before failing hard and filling the gap, and that was not at all bullish. If bears can follow through this week then there will be a very real possibility that the Spring high was made on Friday slightly earlier than usual. (more…)