Well THAT was interesting. Let’s review the day, shall we?
Monday basically went like this:
- Everything was green, because the scumbags at Goldman Sachs said the market would go into a “melt up” mode, and of course the people at GS never lie and are always right;
- Jerome Powell, the most evil man in the United States, was given a second term to his post so he could continue to ingratiate his billionaire friends with unlimited riches;
- The market rallied ecstatically to the highest levels in human history;
- The NQ fell to pieces;
- But then it recovered, as Goldman, Powell, and all the other criminals piled in to push things higher;
- Then out of the clear blue sky, everything fell apart near the end;
- And yet Goldman is STILL pushing the canard that we’ll have a melt-up.
I personally was bracing myself for a rough day, and for a while I saw a portion of my profits from last weeks vanish, only to return again with a vengeance. I’d also note my virtual account, which collapsed from $20 billion to a mere $9 billion, is at a new record. I would further point out that my all-short all-the-time portfolio did this on the exact same day that the scumbags at the Federal Reserve created the most expensive market in the history of the world.
So: yay, me.
Here are a few more charts and some comments thereto………
The NASDAQ is, so far, behaving itself with respect to its channel and my desire for it to slip lower therein.
The S&P did a marvelous tag of a thirteen-year-long resistance line before revering. Picture perfect!
The semiconductor index had its biggest down day in a while, and the biggest bearish engulfing pattern in a long time; I did a post specifically about shorting the semi sector early today, at a fantastic time, which last I check garnered precisely zero responses from my subscribers. Oh, well. I’m loaded to the gills.
I’m particularly excited about oil stocks which I believe are just beginning their enormous wipeout. The inverted saucer is picture-perfect.
After peaking on November 8th, the small caps have been falling virtually every single day. They are now right at support. Here’s hoping it fails, too.
This meme has become a total joke, as one by one the nineteen year olds in /WSB are going to get wiped out.
