You’ve probably heard all the fuss about Zuckerberg introducing Threads, the Twitter killer. I dunno, I think the fatal flaw is the classic network problem: the people aren’t there. I mean, I’ve got about 25,000 people following me on Twitter. Starting from 0 on Threads doesn’t exactly excite me. In any case, I am bearish on META by way of January puts.
![](https://slopeofhope.com/wp-content/uploads/2023/07/slopechart_META-640x330.jpg)
Looking closer, you can see the trendline failure.
![](https://slopeofhope.com/wp-content/uploads/2023/07/slopechart_META-1-640x299.jpg)
I’m kind of disappointed in the day so far. The small caps are up strong (+1.2%) as are crude and gold. So I’ve given back a portion of yesterday’s sweet profits. I’ve also dialed back on risk, since I trust this market about as far as I could drop-kick Yellen down a football field.