While equities are doing this………
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.
Staying On Target
I tweeted an excerpt from my premarket video on Thursday last week where I was talking about the ideal path for ES over the coming days and the plan was to see a high respecting a trendline then in the mid-3060s, seen on Thursday afternoon, then a retracement into the 3000 area, seen on Friday, and then a push into 3100 area for the middle of this week, currently in progress. With the historical stats for today and tomorrow both over 70% green on SPX, I’m thinking that level might be seen before the close tomorrow. We’ll see.
In the short term I have short term wedge resistance on the SPX 15min chart in the 3085-90 area, and that is the next obvious target.
(more…)Tesla Inc (TSLA) Is A Busted Growth Story
Tesla Is A Busted Growth Story
We remain short Tesla Inc. (TSLA), which I still consider to be the biggest single stock bubble in this whole bubble market. The core points of our Tesla short thesis are:
- Tesla has no “moat” of any kind; i.e., nothing meaningfully proprietary in terms of electric car technology, while existing automakers—unlike Tesla—have a decades-long “experience moat” of knowing how to mass-produce, distribute and service high-quality cars consistently and profitably, as well as the ability to subsidize losses on electric cars with profits from their conventional cars.
- In 2020 Tesla will again lose money, as it has every year in its 17-year existence.
- Tesla is now a “busted growth story”; revenue growth is flatlining while unit demand for its cars is only being maintained via price cutting.
- Elon Musk is a securities fraud-committing pathological liar.
Looking Overseas
Not that gaps and trendlines have proved much of a match for the trillions of dollars of endless Fed stimulus, but these are major enough, I feel inclined to point them out:
Happiness is a Warm Gun
With the entire nation in a state of unchecked pandemonium, one sector doing particularly well is weapons. Here are four of them, with the best-formed pattern being the one I’ve mentioned repeatedly this year, Axon.
