Short Citigroup (C)

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Today’s bounce makes abundant sense – – just look at the chart below. That’s why I lightened up on shorts yesterday and went long (yes, long!) gold, miners, and social media stocks. Break those trendlines, though, and…………boy oh boy. I have a suspicion tomorrow’s minutes might do the trick. I’ll do a post tonight with my thoughts.
Long-time readers know I take a strange pride in never having owned an American car. Even as a youngster, I recognized them as crap on four wheels. And for those who say, “But Tim! Yes, you! Tim! Over here! Hi! Your Tesla is American!” No, it isn’t. It’s Silicon Valleyian. A Tesla product is as far removed from the decades of Detroit garbage as one can imagine.
You’ve probably heard about the new HBO series “Silicon Valley”, based here in my beloved Palo Alto. I took a look at it last night. They pretty much got it right. Don’t have an HBO subscription? No problem! You’re a Sloper! Here’s the first episode: