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I’ve been awake since 2:30 a.m., so I’m about to topple over. Before I do, here’s one last chart: I’d say that Netflix (NFLX) is getting very close to the end of its “traverse” back toward its gap. From a charting perspective, its behavior has been picture perfect.
Yikes. Pretty incredible.
I know something about attitude. Lord knows I can employ some of it myself, especially when the market is going my way (something I haven’t felt for any length of time since pre-market October 13th). But I’ve got to say, there’s some serious “attitude” over at Zerohedge that doesn’t sit right with me.
I’ve written about ZH before, since it was my favorite site for so many years. As I’ve mentioned in the past, the cliché with ZH was that no bear market would take place as long as they existed. I think that old saw should be updated to declare that no bear market can take place as long as they are bearish. They were steadfastly on the bear side from 2009-2021 but, inexplicably, have becoming absolutely enthusiastic melt-up supporters in recent weeks.
This is long, but it’s well worth watching (do like I did and watch it at 1.75 times speed):
Today was an odd one. The market was so dull for the first 90% of the day, I just wasn’t feelin’ it, so I put up lazy posts. Then when things got fun and exciting at the end, I had a meeting to attend to, so I was out of pocket. I’m back now, though, and wanted to say that the IYR position I re-entered on Friday is working out great so far.
