I humbly suggest you consider shorting, or buying puts, on Crowdstrike (CRWD):
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.
Precious Gets Purchased
As we all know, few assets have been as persistently disappointing as precious metals. They peaked well more than a decade ago, and even though on the surface it would seem this environment was tailor-made for a crazy bull market in gold………….nope. Oftentimes,, it’s the only asset that ISN’T rising.
For the immediate moment, it has managed to dust itself off and find a little strength:
Decent Looking Candidate Low
SPX rallied hard on Friday and so closed back well above my retracement target support trendline, so that has held on a weekly basis and may still hold as the retracement low here. So how is this low looking as a possible retracement low?
The first thing to say that my possible very bullish scenario that I was thinking might well be set up on this retracement is, if not dead, at best sufficiently badly damaged that the pattern target could not be relied upon even if the current all time high was next to be broken and converted. The pattern setup requires a fairly precise retest of the trendline and this didn’t meet that standard. Given the economic background that scenario was perhaps too much to look for in any case.
(more…)Eyeing AMD
The day isn’t quite as big a kick as I thought it might be, but steady as she goes. On the whole, I am in wait-and-see mode. One in particular worth watching is Advanced Micro Devices. In particular, I’d like to see it get as close to that gap as possible.
Watch the Animal Spirits
I’ve mentioned this frequently, particularly on my tastytrade show, but I want to stress again my theory that cryptocurrency markets – – particularly the big boys Ethereum and Bitcoin – – are going to be very vital in monitoring how this equity bear market unfolds. Indeed, it’s pretty much the only useful mechanism during the weekend for gauging market psychology when the stock bourses are otherwise shuttered.
Here, as of Monday morning, is Ethereum. Take careful note of how feeble its recovery from the Terraluna disaster was, and more importantly, how spectacular its topping pattern is. We’re talking Game Over level charts here, people.
