The VanEck Vectors Semiconductor ETF (SMH) has a fascinating big-picture chart set-up that is loaded with technical information, most of which argues for more downside directly ahead.
More Downside Ahead for SMH
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.
Gun Stocks
I’m not about to wade into this political tempest. I simply wanted to use SlopeCharts sector feature and showing you the gun-related stocks it had, since the finance boards this weekend are, understandably, talking about gun stocks. Here they are, with a few words about each captioned.
Cruising for a Bruising
One area that’s been doing rather well on the short side, for whatever reason, is cruise lines. Royal Caribbean is a good example. Take a look and the multiple tinted instances of major reversals, as well as the most recent breakdown of a huge wedge pattern.
Keep Your Food Down
For some reason, restaurant shorts are doing especially well lately. Here are a couple of my favorites: Texas Roadhouse:
The Next Semi Upturn and Thoughts on Gold
Excerpted below is the Opening Notes segment from this week’s Notes From the Rabbit Hole, NFTRH 555. The report followed up this opening with extensive coverage and strategy for US and global markets, internals/indicators, commodities, precious metals (including weekly charts of the miners for a wider view this week) and much more. As usual plenty of stock charts were covered as well for a comprehensive report bringing us completely up to speed on today’s markets.
(more…)Ship Happens
A couple of my more successful short positions this week have been in the shipping sector. Below are Federal Express and United Parcel Service:
Pot Stocks Looking Higher
Marijuana stocks are among our top charts to watch today.
Aurora Cannabis Inc. (ACB) rose 8 cents to $8.96 on 21.3 million shares Wednesday. Bank of America Merrill Lynch named the company as one of three marijuana stocks to buy. The stock, after sharp year-to-date gains, has been consolidating in recent weeks, but may be on the verge of its next leg up with cannabis stocks in general. Next target is around $10.50, above its March high.