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Let’s talk about Lumen (LUMN) which has had an insane week.
In recent days, it went up about 900%. I never really followed the stock until I noticed on Tuesday that it was the top gainer in the entire market, just about doubling in price. I stupidly assumed earnings had just come out (when I could have easily just glanced at our earnings page to learn it was, in fact, not going to report until after the close).
Here’s the 5-minute bar chart:
For over four years, the VIX has engaged in a series of lower highs. No matter what happened, every single peak on the VIX was lower than the last. I am delighted to report that, after 52 months of waiting, this cursed prison has been escaped. Friday broke it.
I know, I know. I’m a coward. All the same, I took profits on XHB, NVDA, and ARM, and I lightened up a bit on a few others. First off, NVDA was getting awfully close to what I considered major support.
