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.
At the risk of pulling a Jim Cramer and simply saying the market could either go up or go down, I wanted to make an attempt at being open-minded and showing the most bullish (and, of course, bearish) charts as we head into the big FOMC day on Wednesday. I’ll be glad when the whole charade is over, but face it, we must. Below, even split, are six bullish charts and six bearish ones.
As you’re surely aware by now, the most widely-followed earnings report after the close on Wednesday was Facebook (umm, Meta), and they’re getting destroyed after hours. I first gained awareness of “The Facebook” years before most people, since their first real office was literally one block from my own in Palo Alto. Many times I would see Zuck walking around the streets, talking to employees one-on-one or, occasionally, jogging. I even remember their chalkboard sign propped up on the sidewalk encouraging applicants to come in to get a job at TheFacebook.com. Little did any of us know that it would (briefly) be a trillion dollar company. Here are some thoughts I have on the matter………..
The stock has already had a wretched year before today, but they’re getting torched by another 20% after hours (and what idiot jumped in immediately after the close and paid $142 for this thing, hoping to get in cheaply?)
Netflix isn’t going to save you.
Over the past few trading days, the entire investing world has flipped completely bullish, so much so that even my beloved Slope has become infested with its own version of yellow jackets, which are the $0-paying freeloaders who declare that the bear market is dead and it’s going to be straight up, at the very least, through the end of the year. These people, to me, are as complicit as the criminals they got us here in the first place. They are Fed cheerleaders, and it’s clear to me just how few true bears there are here. Probably something like five, grand total. So it isn’t just me. There are four others. Tops.
Given the NFLX, ISRG, and UAL fodder these closet permabulls were given last night, I’m sure they were expecting the /ES to be up another triple digits this morning, but things seem to be sputtering already. “Up through end of December” my ass.
As if the outcome about Rolo the Dog wasn’t enough, I have another quick anecdote.
A week ago, I did a post called Nest of Vipers, which was about the real-life morality play going on in which yellow jackets were viciously killing my honeybees and taking over their hive. I have a bee-cam and, during my week away, watched helplessly as the bastards swarmed in and raided the place, taking what was not theirs, and murdering my beloved bees. I was heartsick all week over the situation, and I had already plotted my ideas about how to go completely medieval on those creatures including, but not limited to, fire.
I started off early in the morning, immediately after my return home, blasting the hell out of these bastards with a chemical spray which, for whatever reason, is illegal in California (I smuggled it in from North Carolina by way of my checked baggage). I zapped ’em, one by one, and they approached the hive, and, yes, I said some colorful things to them as I killed them off. Arrghhhhhhhhh!
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