Yesterday’s suggestion to short Silicon Valley Bank worked out, and this is one of the cleanest gap plays I’ve seen in a while.
SIVB Drop
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.
Testing 4000
Last weekend I was looking at the higher probability bear flag formation options on SPX and was looking at the resistance trendline on the chart below as the highest quality bear flag resistance trendline. That’s in the 4050 area now, having eliminating the triangle option in the move up this week, and SPX successfully negotiated the very bearish historical stats yesterday to reach the 4000 area this morning.
SPX 15min chart:
Revvin’ for Rivian
Here in my fair city, I am seeing Rivian electric trucks with increasing frequency. It’s a good-looking design, and the chart (RIVN) is shaping up.
Seal of Approval
Double Trouble
The zany end-of-day FOMO runup on Thursday afternoon seems a little silly right now, considering some of the post-earnings action. We have SNAP, which is getting destroyed. Incredibly, if you were shrewd enough to buy this thing when it came public 64 months ago, you’d be down about 50% right now.
