Although we certainly haven’t seen any kind of bounce lately, I have judiciously selected the nine equities below to sell short and add to my bearish portfolio.
Nine Lives
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
U.S. Tech Sector Blow-Off Top In Progress
Further to my post of February 10 regarding FNGU (an exchange-traded note that tracks 3x the daily price movements on an index of US-listed technology and consumer discretionary companies) and the Nasdaq Composite Index, the following scenario developed.
- FNGU did retest its prior all-time high, blew past it, and made a new high at 115.40 last week, as shown on the weekly chart below.
- The Nasdaq Composite Index did attempt to reach 10,000, but stopped short at its new all-time high of 9838.37 last week, as shown on the weekly chart below.
- After they both formed a shooting star candle last week, they gapped down considerably today (Monday) to close near their low of the day.
- You can see, from the last two chartgrids (daily timeframe), that all of the ten tech stocks which comprise FNGU gapped and closed down on Monday, as well.
Some Genuine Coronavirus Numbers Coming Through
Note from Tim: I’ve put together what I consider a fairly important and, hopefully, useful market update video for Gold and Diamond members which you can get to here. In fact, I consider it one of the most important market updates I’ve ever done.
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Following on from my post last week about the coronavirus COVID-19 here, we are now seeing some genuine coronavirus numbers coming through, and the numbers at the weekend weren’t great so equity markets are down this morning in response. How bad was the news? Here are this morning’s numbers:
(more…)The Ships Are Sinking
Remember how I said to short the cruise liners? The world’s taste for floating hotels packed with morbidly obese gluttons, spreading viruses, just isn’t what it used to be. Anyway, I’ve backed off my crazy-eyed bearishness today. I think today’s action is an important first step in a much larger move, but we need a hefty bounce. Now if you’ll excuse me, I’ve got a bag of white powder to deliver to Julie, your cruise director.
