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One of the few reliably weak semiconductor stocks in this insanely overly supported market is Arm Holdings (ARM), whose stop-loss I simply keep tightening. Considering how this compares to, oh, let’s say Micron (MU) there is clearly something very wrong with his company.
One stock I’ve suggested for a short position weeks ago, Axon Enterprises (AXON), continues to slip away. I suspect part of the reason is that the whole police state thing is starting to lose its appeal. The stock chart is shown below, featuring sub-human Gruppenführer and lesbian spokesmodel Greg Bovino.
If you ever need to describe to someone what utility chart patterns have, or even more specifically, you are looking for a great example of a basing pattern followed by a breakout, may I suggest GLD. This is one of the most fantastic examples of classic technical analysis at work that I’ve ever witnessed.
The world is changing fast, folks. Gold hasn’t blasted THOUSANDS of dollars higher in the past few months just because mankind discovered how to craft it into jewelry. Silver hasn’t blasted HUNDREDS of percent higher in the past few months just because everyone decided to hammer out Ankh-shaped amulets of the stuff in their garage. This is a big deal, and one which my ratio charts telegraphed three years ago.
Last night was no exception, as gold rocketed to – – here come those words again – – a new lifetime high. As I am typing this, /GC is up about $175, well over 3%.
