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Well, just like that gross guy Dave Portnoy’s gambling outfit has gone all to hell, likewise the gambling giant Caesar’s, whose entire existence is predicated upon sucking dry the wallets of the lower-middle class in a desperate attempt to win a few bucks, has topped out.
Much was made of the collapse of the Russian ruble when the west responded to the Ukrainian invasion. Our own President made the point repeatedly about how worthless the ruble had become. Well – – not so fast. Below is the USD/RUB chart, illustrating the dollar’s value relative to the ruble. Yes, for about a week, the ruble got absolutely demolished. But since then, it’s the dollar that looks like garbage!
In thinking about Santa coming down the chimney, do children ever question what a horrible sooty mess he’d be? Not that I’ve ever heard.
But rather than talk further about the wondrous notion of Santa, here are some stocks that look to be done making new highs and are now headed down the sooty chimney.
With its top holdings of Apple [23%] and Microsoft [21%], the Technology sector ETF, XLK, has held up better than some others. Even so, it lost its bid for a higher high at the end of March, and price fell below the Ichimoku Cloud on Friday.
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