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Just got back from the Incredibles 2 show at Pixar; great fun!
Anyway, before I slump off to bed – – if there’s anything you need to see to convince you the excitement of early 2018 has been smothered to death, look no farther than the VIX chart. It’s just…………….sad:
Polaritite, Inc. (COOL) jumped $3.90 to $30.95 on 1 million shares Wednesday. The biotech and regenerative biomaterials company announced on June 4 a public offering of common stock. The stock has nearly doubled from a mid-April low below $16, and recently broke out of a 2-week consolidation pattern, suggesting it is ready to continue the run. Wednesday’s close was the highest since late August, and a break through that level ($31.68), its highest close ever, could take the stock to the mid-to-high $30’s next. (more…)
Well, it’s nice to see at least ONE equity market getting blown all to hell. That’s Brazil. In a way, this collapse was neatly predicted by the ultrashort BZQ, which had a beautiful base. It has been a monster ever since.
Over the past year and a half, so many famous men have fallen from grace. They have lost fortunes, careers, and their freedom by being exposed for what formerly they were able to hide. The song below is about the mighty being humbled, and you could make it a theme song, virtually word for word, for Harvey Weinstein, Bill Cosby, Kevin Spacey, or just about any of the other dozens of men who are now suddenly social pariahs. And, if nothing else, it’s nice to listen…….
Yeah, I know, it’s January 2018 all over again. Market is up every day. VIX is heading to the single digits. Bulls are ecstatic. Bears are suicidal. I get it.
All the same, I’d like to offer one possible pathway for the NASDAQ Composite, shown below. Because we’re experiencing the same kind of lifetime high in tech stocks that we did back around March 13, and it pretty much shot its wad at that point. Just a suggestion: