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If you believe that Covid-19 is going to be totally passe and “so 2020″ in a few months, I’d like to direct your attention to three stocks which I believe are vulnerable should the virus become out-of-fashion.
First is Peloton, with a price gap at 122.49 and a horizontal lower than that. The broken trendline and big price gap are key.
I am continuing to have great fun with virtual trading (and we’re improving it all the time behind the scenes), and yesterday I bought some puts on GDX, the precious metals mining ETF. So far, so good:
Dick’s Sporting Goods went up almost 400% from March to October. I guess there’s going to be an insatiable demand for volleyballs any minute now. In any case, this company certain has a history of “rolling over” into meaning tops and then doing the plunge-a-roony: