Since I’m surrounded by bulls these days, I thought I’d share a couple of prospective long positions. The first is fallen angel Netflix (NFLX) which, should it push above its horizontal at $252, seems well-positioned for a potential gap-fill:
The other is Sweetgreen (SG) – a chain of salad restaurants – which likewise looks like a potential breakout if it pushes above 21.66:
One of the many reasons I’m not buying these, or anything else, is that there are virtually no charts that actually look like honest-to-good, high-quality long positions. The best profits these days are going to be made by dumb luck, simply by buying utterly battered crap stocks that can easily bounce 20% based on nothing more than the fact that they’ve lost 95% of their value, and any strength can make for a monumental percentage gain.
