Below is the oddly-named Maplebear, which is actually Instacart. It’s a young stock, but the breakout is clear. The symbol, more logical than the company name, is CART.
The Only Bear Having a Good Day
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.
In and Out
Lord, what a brutal morning, huh? I’ve been trying to focus on the positive, which is (1) I was still at 35% cash (2) umm, let’s see, I don’t have cancer of the eyeballs.
I’ve made precious little changes to my portfolio, however, but I wanted to walk through those alterations. First, with a heavy heart, I got out of my EFA puts (January expiration). Candidly, I bet this chart ultimately works out fantastically, but I really needed to trim risk, so I ditched it.
Mega-Rally
I’ve spent a lifetime working with words, and the two that leap to mind right now would be “surprising” and, without a doubt, “discouraging.”
Yesterday evening, I had breathed a sigh of relief that not alone was the FOMC behind us, but that the rally that ensued had totally sputtered out. The rally got its second breath, however – – and a third, fourth, and fifth breath – – and blasted markets, thanks to the follow-through from overseas markets.
Farmer Love
This diagram is no surprise: Americans love their farmers and despise the pharmaceutical companies. That makes sense, too. Is corn $357 per ear? Nope. If would be if big pharma did the pricing.
A Big Decision To Make Here
This is my first post on equities this month. My apologies for that. I’ve been getting my boys back to university. They have now both gone and summer has officially ended in my house.
In my last post I was looking at the bearish track record for Septembers in presidential election years, and we saw a sharp decline shortly after at the start of September.
I have still been doing my premarket videos every day as normal at my chartingthemarkets substack and, after that low was made I said there was a strong case for a retest of the all time highs on SPX and Dow next, at which point there would be a lovely topping setup on both, and a fail area inflection point that could deliver a big decline from there into October. Both of those all time highs have now been retested, and that really nice topping setup has formed. We are waiting for the decision on whether this will now break down within the setup or break up out of it.
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