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Out of dozens of short positions, my second most profitable one is, paradoxically, a stock grinding around at lifetime lows which I shorted after it had already lost virtually all its value: Brandywine Realty Trust (BDN), which is sporting daily price bars that I wish were commonplace but are instead exceptionally rare:
The Iran War and the US equity markets have reached an interesting stage and I am watching with great interest to see what happens next. I’ll be reviewing the setup on equities here mainly but first I’ll review where we seem to be on the Iran war.
I was saying in my last post on Thursday 12 March that Trump had a problem in this crisis in that if he wanted to TACO here, likely by declaring victory, withdrawing US forces and moving on to something else, then the problem was that this would necessarily require some kind of agreement with Iran, and Iran, under new, younger and much angrier management, was showing no interest in talking.
(more…)When I began this post, I already knew it had been an amazing week but having taken the time to scrutinize the index charts more closely, I am more impressed than ever at the clarity of what is happening. The tops are clean, complete, and suggest tremendous downside potential for the balance of 2026.
Starting with the NASDAQ Composite, you can see the sensational top as well as the very clean price break between Thursday and Friday which has set up the most proximal level of resistance.
I continue to be amazed at the destructive force of the H&S top on Jack in the Box (JACK). This thing has been hammered down to its price from the PRIOR MILLINEIUM!
That’s right: a buyer in 1999 would be looking at 0% gains, ignoring the fact inflation has actually torched the value in spite of the nominal price.
