As we work our way toward the final minutes before everything shutters for Christmas, here are a few equities that have loaded bull stockings with bountiful joy, irrespective of fundamentals. These were beautiful breakouts and illustrate some good, classic technical patterns:
The looniness keeps out-loonying itself with every passing day. The $900 billion “stimulus” bill, the latest battleship full of free money, breezed through Congress and landed on the President’s desk. To everyone’s surprise, he didn’t sign it, but instead said that the life-changing $600 stipend that each citizen was going to get, he said it should be over three times that much. The market sold off quickly (red arrow). As you can see, the selling didn’t last.
It’s amazing Nikola is still trading. I guess we’re getting a glimpse into what Theranos or WeWork would have been like, if they had made it to a public offering. Expect more of the same, in my opinion.
Lord knows the world has been subjected to a mountain of craptastic come-ons from the smarmy world of cryptocurrencies over the past few years……
