Back in June, the first iQIYI Inc. (symbol IQ) was the darling of young traders, who gobbled up “the Netflix of China” with abandon. This is one of my short positions, and with the recent failure of its right triangle pattern, I’d say that millennials are probably not as crazy about it as they once were:
As is their custom, however, the overpaid analysts who work at Wall Street investment banks have been useless as teats on a boar with their own counsel on this dog:
On a wholly separate note, last Thursday morning, before the opening bell, there was some kind of announcing about Overstock (one of the companies I love to hate) and blockchain technology. Even with the crypto space in ruins, this somehow create a monster price gap, with OSTK opening up nearly 25% higher. I had no position in this security, but if you’ll note the price gap below, you will see that the effect was, shall we say, short-lived. Indeed, we’re at lower prices now than we’ve seen in months, even with the ridiculous blockchain hoo-ha.
