I must confess, when the market spends the entire month of October racing higher to levels never before seen in human history, and at valuations that are absolutely comic, my gonads shrink to pea-sized. I thus take a pass on patterns that, while tantalizing, still scare me too much to pursue. What a shame. Here are a couple that slipped by grasp:
World Wrestling Entertainment, the go-to venue for the world’s tackiest people.
After I wrote this post, with the above two charts, I saw there was more interesting action happening. So here’s a THIRD one that got away: Arista Networks! I have a decent excuse for this one, however. I tried to enter a vertical spread, but the bid/ask was simply preposterous. I suppose the options on this must be incredibly thinly traded. So I did nothing. (Fun fact: Prophet’s investor, Andy Bechtolsheim, was the founder of this company too!)
Also of interest is Pinterest, which is getting slammed to the lowest prices in history (my GOD that feels nice to type, since I’ve had to type the opposite so often lately). This has been another absolute disaster of a unicorn IPO. Total track wreck. I suspect it won’t exist in three years, or it’ll just grind around at a couple of bucks like Zynga and join the living dead.