What an interesting trading day so far, eh? In order to extinguish the crazy ga-ga earnings rally going on with Amazon, I am at this very moment in Seattle, which seems to have done the trick. Even though the likes of INTC, MSFT, and AMZN went absolutely orgasmic after the earnings reports Thursday afternoon, the NQ is deeply in the red as of this moment. Although, let’s face it, Gartman’s two about-faces probably has more to do with the NASDAQ explosion and collapse than my own travels. The important point is that the market is still hemmed-in:
The same is true even for broad markets that have nothing to do with Jeff Bezos:
If all goes accordingly to plan (does it ever?) the current version of the Slope of Hope has exactly one week left to live. My persistent pleas for you folks to do beta testing have yielded me two – count ’em, two – devoted testers, so you better all hope your laptops don’t burst into flames next Friday……….because it’s not like I didn’t ask for the help!