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Here’s a bit of a sad tale! I was short COST with a stop at 1018. I set the stop based on its price gap just below that level. I have drawn a red line to show where 1018 is, and as you can see, it traded briefly above this area, executing my stop-loss order, and then……….well…………..
Since China is looming large in the American mind these days, here is a diagram of the most valuable Chinese companies that trade in the U.S.
The XME/GDX relationship has held true for decades, and after completing a substantial top and plunging hard, it has recovered almost back to the base of its top.
There’s nothing easier in the world than offering up short-sale ideas when the market is in a free-fall. Of course, that’s also the most hazardous time. Conversely, there’s nothing harder than daring to offer up such ideas when the market is in up-every-single-day mode, as it is now, but I’m going to do it anyway. Before I do, let’s take a quick look at the /ES futures since April 21st, which was only three weeks but about 800 points ago!
Having lost about 70% of its value since it peaked, shoe-maker Nike (NKE) has enjoyed a bounce in recent weeks thanks to the cessation of the trade wars. I would like to emphasize that the massive top is still intact, with an important price gap at 64.16:
