As you know, I don’t tend to be bullish on……..anything……..but I’m going to make an exception for the Slope of Hope. Judging from the load on our server farm, we’re definitely getting popular:
I wanted to highlight the semiconductor sector, where I’ve got a few successful shorts. This index has been sailing smoothly. Yes, we’ve had a dip recently, but if past history is any guide, this is about as long as we “should” go.
Trends were meant to be broken, however. We shall see if, in the weeks ahead, the reliable nature of the above 200-day moving average holds or not. I will say that the individual semiconductor shorts I’ve got still look like terrific holds on the bearish side.
I did wimp out and take profits on CRUS today. Wimping out, I have found, isn’t always such a great idea. I took profits on SNAP yesterday, for instance, and boy do I feel like a moron. Anyway…..
Nvidia is so rock-solid that even a permabear like me doesn’t want to screw around with it. No thank you:
I remain firmly but not super-aggressively short, at about 180%, spread out among 55 different positions. I’m seeing splinters and fissures here and there, but no oh-my-God, here-it-comes type breakdowns yet.
Hope springs eternal in the bearish breast.