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There is some after-hours excitement regarding Tesla, with the stock up about 8% or so, prompted by strong car delivery figures. I wanted to offer a couple of alternate viewpoints on the same chart.
The first, a bearish one, shows the absolute mountain of overhead supply. Even taking into account the rise after hours (which SlopeCharts has done for us below), all we’re doing is crawling back up to the failure point.
OK, Tim, what’s with the title? Simple: in spite of the firehose of bullish news prior to Monday’s open, there were…………....no important breakouts! Sure, the market was up, but considering they pulled out all the stops, it’s worth noting the charts that follow:
Here are my five best dollar winners for today, in chart form. Fittingly, you’ll see some familiar names from my energy shorts post last night. I presently have 50 short positions, almost all of which are in the green.
Note: Ryan Wilday and I just co-wrote this crypto article, and we thought you may find it interesting.
Recently, the Winklevoss twins (who founded the Gemini crypto exchange) coined Bitcoin as ‘Gold 2.0.’ To support their perspective, they cited Bitcoin’s scarcity, its fungibility and its portability as meeting or exceeding that of the yellow metal.