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On Tastytrade today, they were talking about earnings plays: two in particular caught my attention: Twitter (TWTR) and GoPro (GPRO). My opinion was that Twitter would go up a few dollars (see, I’m not always bearish!) and that GPRO, being a one-product, camera-on-a-stick silly company, would go down.
Well, watching Twitter, I was embarrassed at my guess for a few minutes, but………
Tonight, I’m going to fall back on a library of existing content that I worked hard on late last year: specifically, a series of videos about different aspects of charting. I’m doing this not only because I think some folks here might enjoy some of these videos, but also because there’s really not much new to say about this market. We’re range-bound, and it’ll be more than interesting to see if tomorrow morning’s jobs report simply provides us another push downward (which the range would imply) or breaks us out of it.
It seems an eerily quiet day with not much to say – – perhaps tomorrow morning’s job report will shake things up – – so I’ll just share this chart of CBS, which I think has created a beautifully well-formed diamond reversal pattern.
Well, I’m going to file this under “What was I thinking?” This weekend, I made a point of saying how it looked like we were at the lower end of a range we’ve been in since the start of the year. Freakishly, I was loaded up on short positions. (In all sincerity, the individual charts did look bearish, but we all need to respect the power of the market as a whole to move individual stocks). In any event, somewhat predictably, we have powered higher all week……
