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OK, I can’t end the day without just one more post. It’s a simple one, and one which applies to the market as a whole. I’ll leave them to your own interpretation (except for my always handy tip to click the danged thing for a bigger version). Here is $BIGSUM, which is the cumulative advance/decline line for U.S. stocks:
Ouch, what a day! Today was as awful for the bears as yesterday was glorious. Since we seem to be toggling, does that mean Thursday is going to go down? Perhaps.
For the moment, I really just had one “after the close” event to watch, and that was the earnings for OKTA, which is one of my bearish positions. Well, it came out, and it did that typical “roaring higher and then plunging” thing that happens so often with these events, and it’s down double digits right now. Good!
Anyone out there feeling seasick? It seems each day is an upside-down version of the day before. We are, at this moment, banging against the levels seen at Monday’s high. The reason, of course, is yet another blast of China Trade Talks Are Going Well Peace Talks. Here is a sampling of what’s going on:
I’ve been trying to find what drawn object or study is more helpful for USO. I’ve got to say, this channel isn’t too bad a way of looking at it.
I’m not touching it, but for what it’s worth, here is RUSL, the 200% leveraged Russian equity fund.
NOTE BENE: I have been (swiftly!) informed by fellow Slopers that this fund is getting liquidated on March 11th. But I’ll leave this post up for now, since let’s just say the market action is not acting as an effective muse today.
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