Let’s consider the semiconductor ETF for a moment, symbol SMH. I dumped my August puts at a loss and bought into deeper-in-the-money and shorter-timeframe June $250 puts instead. Resistance, in my opinion, is 233.14:
Shaking My Head ETF
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.
It’s Cathie’s Bounce, Too!
From February 18th to March 13th, a period of less than a month, Cathie D. Wood’s ARKK fund lost one-third of its value. (Keep in mind, this is NOT a leveraged fund!) Since then, it has bounced, erasing a portion of that substantial loss. I would suggest that, while it might bounce some more with the rest of the market, we’re already past the vast majority of whatever recovery Ms. Wood is going to enjoy.
Qwality is Our Recipe
Just about the only short I’ve got moving down in a meaningful way is Wendy’s (WEN), against which I already own January 2026 $20 puts. This is a diamond pattern, and it’s slipping nicely. It’s off almost 3% today, which on a day like this is almost like a crash. Take note that I’ve got until next year on these suckers.
Plaid Mode
Tesla jumped about 10% this morning with a much-needed relief rally. Long-time readers know that I’m a Tesla fan, and I find the worldwide outrage, obnoxious posters, and, umm, lightning cars on fire to be insane (including the forthcoming 500 dealership protest five days from now). However, as a chartist, I think TSLA is going to slam the breaks around $300 or so, since the Fibonaccis are Tesla’s ruler.
Worse than Woke
This hasn’t been a great morning, but it isn’t quite the catastrophe I feared either. I will say that the most annoying moment of the day was getting stopped out of NFLX instantly at $974. Surprise, surprise, the price ripped above that level for a few moments before plunging (even on a day like this). There’s always been paranoia about “gunning for stops“, which I’m starting to think is more real than I imagined. This was worse than watching a Netflix drama about all the black, differently abled monarchs of medieval Europe.
