I took good profits off the table on Roblox (RBLX) early today because the stock was showing signs of strength. However, that gap just under $125 is beckoning, and I intend to re-enter the short if it gets close.
Waiting for a Sloppy Second
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.
Is Gold Pooped?
As big a fan as I am of gold, I’d like to point out that it seems to have exhausted itself for now. GLD has a price gap at 310.31. Considering that the other “anti-dollar” trade, Bitcoin, is up thousands of dollars to a record high, this is a pretty dismal performance from gold. Shorting GLD with a tight-stop seems like an intriguing risk/reward ratio.
Semi Sector Gaps Held!
I have short positions in all three of the semiconductor companies below, and the rationale for my position is the same for every one: a price gap as a resistance level, which I’m using as a stop-loss. In every instance, the stocks have exploded higher since early April, and they are quite vulnerable to resuming their earlier weakness.
Perfect Biotech Gap Seal
The fund for biotechnology stocks, IBB, has sealed up its price gap beautifully today. This represents an interesting short-sale opportunity with a very good risk/reward ratio.
International Island
I almost can’t believe I’m doing this, but I’m giving EFA another chance. I have shorted a block of it early today, based on its island reversal gap, which is a true rarity. Stop loss is 89.15. This time for sure, right?
