I don’t think I’ve ever traded CRM before, but this inverted cup with handle was an appealing setup. This is one of my many “long put” positions, whose expirations range from late September to late January.
Salesforce Short
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.
He Finally Quit
A Fresh Look at Netflix
We’re past Netflix earnings, and there are two bearish truths we can recognize:
- Long-term, the stock has double-topped
- We have failed the midline of the channel, opening up the prospect of a trip back down to the channel’s lower support line
Techs and the Gap
Let’s keep an eye on those price gaps on the tech stocks. I have highlighted the below with a dashed horizontal line here on the NASDAQ Composite:
Now Industrials
It seems hard to believe it was so recent, but the highest level for the Dow Industrials in human history was only on Thursday, when it reached the lofty 41,376 (keep in mind, this sucker was 6,469 during the financial crisis). It reversed over 1,000 points within hours, and at this point, the next success for the bears would be a failure of the psychologically-important 40,000 leve.
