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An S&P above 3,000. A Dow above 27,000. Allow me to have one of my heroes, Spock, relate to you the nature of this market, just as he did in Spectre of the Gun:
The bullets are unreal. Without body. They are illusions only. Shadows without substance. They will not pass through your body, for they do not exist. Unreal. Appearances only. They are shadows. Illusions. Nothing but ghosts of reality. They are lies. Falsehoods. Spectres without body. They are to be ignored.
While Tim is away, I’ll take the opportunity to slip back on my bear suit. Shhh, just between you and me. I’m expecting some weakness in the broader markets for the remainder of the summer, before continuing higher later in the year. One area of the market that caught my attention today was housing. Below are a trio of shorts ripe for the taking. Enjoy!
Preface to all editions: I have been in “I can’t believe I forgot this was on Slope” mode quite a lot lately. If I can’t remember all the cool stuff, surely some of you may have forgotten too! In that spirit, here are some reminders:
I have a couple of technical study sets called Max Sensitivity and Min Sensitivity. As you might guess, the “max” one tends to be very volatile. I was curious, however, since my belief is that banks are weakening, how the “min” study set looked with a couple of major financial funds. Here is XLF:
Just a follow-up on one of the few long ideas I’ve been pushing in 2019 – – this is definitely a stock with its share of ups and downs, but the fact is that it is steadily making higher highs and higher lows, the very essence of a growth stock.