I’m not the sharpest knife in the drawer, but even I’ve learned not to get excited about overnight weakness (one chap on Twitter described it as “the slope of hopelessness”). I mean, just look at the nonsense from yesterday which, as usual, required absolutely no impetus or reason:
One of the reasons I was so excited and delighted to see the college admissions scandal break is that – – naive sort that I am – – I really am grateful to see justice done. Watching a bunch of rich people get dragged in front of a courtroom for their misdeeds thrills my soul (perhaps some of you saw that the first dozen of them pled guilty yesterday, since the evidence against them is so massive and incontrovertible).
I had that same sort of optimism, all too briefly, in the final quarter of 2018 (tinted below). And yet it’s like it never happened.
Indeed, if you look at the tech stocks from my own Silicon Valley, you can see we’re just a day away from the highest levels in human history. The organic, natural, price-discovering market that was started to emerge has been smothered to death with a synthetic pillow in its own crib.
However, I refuse to be beaten by the likes of a man as debased as Larry Kudlow. Setting aside the fact that I’m still on my first wife (and not my third) and I’m not a cocaine addict, there are other virtues I hold even more dear which, in the end, I would hope to prevail.
The financials are still on our side. This analog, which I’ve written about to the point where some of you are ready to chase me with whiffle bats, is still rock solid.
As for my own portfolio, I have 50 short positions (all individual stocks, and all fairly evenly distributed in terms of risk) and 30 waiting in the wings. I also expect to be having another product or two to announce this week, and I encourage those of you who haven’t adopted it to give the ever-improving SlopeCharts a try.