Few sectors have been as disastrous as marijuana, which the likes of James Altucher were touting as The Next Big Thing. These charts were from the weekend; they don’t even capture the additional carnage.
Death by Stoning
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.
Celebrating Isolation
Where’s the worst damage from Covid-19? Anything to do with togetherness, gatherings, and socializing. Just look at the crashes around you. Movie theaters. Amusement parks. Restaurants. And, God knows, cruise ships. Hell, they could find a cure today for Covid, and cruise ships are going to have a stigma attached to themselves for years to come.
So what’s doing well? Hardly anything, with one exception: the companies that cater to solitude, remoteness, and division. It’s a great time to be anti-social. The funny thing is that I was suggesting these as longs WAY before any of this nasty stuff happened. Observe:
(more…)Ahoy! (by Pianoman)
I wanted to shed a bit of light on the serious issue in the cruise industry and to do that I want to offer some background information.
There are probably a few of you that never cruised or even considered cruising. It’s a massive industry! Royal Caribbean and Carnival have about 26 ships each with Norwegian and Princess having 17 ships each.
Then you have MSC, Holland America, Costa, Disney, Celebrity, Crystal, Seabourn, SilverSea, Avalon, Tauck, Emerald, Azamara, Uniworld, Regent, Viking (River and Ocean), Oceania, Windstar, Ponant, Ritz Carlton, Virgin (probably not the best time to start a new cruise line ) and many others around the world. A
(more…)Gold’s Pullback
It seems to me the selloff in the gold sector is healthy, and simply a small move down in the context of a broad bull market. Here are a couple of charts to bolster my claim:
U.S. Tech Sector Blow-Off Top In Progress
Further to my post of February 10 regarding FNGU (an exchange-traded note that tracks 3x the daily price movements on an index of US-listed technology and consumer discretionary companies) and the Nasdaq Composite Index, the following scenario developed.
- FNGU did retest its prior all-time high, blew past it, and made a new high at 115.40 last week, as shown on the weekly chart below.
- The Nasdaq Composite Index did attempt to reach 10,000, but stopped short at its new all-time high of 9838.37 last week, as shown on the weekly chart below.
- After they both formed a shooting star candle last week, they gapped down considerably today (Monday) to close near their low of the day.
- You can see, from the last two chartgrids (daily timeframe), that all of the ten tech stocks which comprise FNGU gapped and closed down on Monday, as well.
