I’ll start off with a short victory lap, which is regarding something I said when the bulls were bidding up equity prices into the green zone across the board early this morning.
Having said that, I’d like to point out something going on measured in months, not minutes. Look at the mega-cap Alphabet (GOOGL). Notice something? Like a massive support failure? Yeah, me too. This isn’t some trifling startup. This is one of the multi-trillion-dollar behemoths.
A longer view illustrates the greater downside potential. Nice! I don’t have a position, although I’m as short as Hervé Villechaize in fifteen other securities.
Take it from someone who has lived in the Silicon Valley for decades. The youngsters on the Google payroll BARELY WORK at all. They love the perks. They love the free meals and the massive salaries. But they work a few hours a week and take it easy. Trust me. This is a bloated organization whose peak has past. Again. Trust me. I know.
I now return you back to your regularly-scheduled bear market.
