OK, I didn’t get the exact top, but I was only two days off. My error as a chartist was not respecting the price gap. All the same, here was the idea from September 8th……….
The Intel Winner
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.
Fit to Be Tied
For reasons behind human comprehension, banks exploded in value this morning following the CPI, only to have their teeth kicked in. As I’m typing this, the small caps are at their lows of the day, and things are looking VERY good for the bears.
One fine example, whose position I just augmented, is Fifth Third Bancorp (winner of the World’s Dumbest Corporate Name of the 21st century, with Ruth’s Chris Steak House close behind). The price gap makes me weep tears of joy:
The Huntington Gap
One of my 14 bearish positions is Huntington Bancshares (HBAN) which is sporting a very clean price gap at 11.15. Keep in mind, it’s a Banc, not a Bank.
Apple Gap Version 2
My declaration a week ago about Apple’s fall threw off 200%+ options gains (let’s not go there). I strongly suspect next week you’re going to see AAPL fall again, and hard.
Short the Semiconductors!
There is a price gap at 153.26 which is the basis for my purchasing October 20 puts on SMH with a strike at $155. I paid an average of $6.99.
