At the risk of shocking a reader or two, I’ve got to say, the behavior of the better-known IPOs is pretty impressive. I don’t touch this stuff, particularly on the short side, because there’s no rational basis for doing so, but these are definitely not acting like financial instruments that were dumped on the unsuspecting public only to plunge afterward. They’ve been holding up – – or thriving – – quite admirably so far.
And just to really throw you for a loop, I think LYFT is a buy. I know there isn’t much history here, but this is a very clean basing pattern, and although it has nothing to do with technical analysis, I’ve always thought of LYFT as the more decent corporation compared to UBER.