Good morning, Slopers and Slopettes. Ever since the election, the direction of the market requires a human of at least two years of age to discern. In my mind, I have an image of a bicycle tire being endlessly inflated with neither remorse not consequence:
A small sampling of some of the fun ‘n’ games happening over in /wsb land, where young men learn the heartless ways of Wall Street:
Up, up, and away! Let’s take a fresh look at the big indexes out there.
The Dow Jones Composite, as is the habit of so many assets lately, hit yet another lifetime high. That wedge has tidily confined prices for over a year now.
With the exception of Tesla, anything that has anything to do with electric vehicles has been getting blown to smithereens – – how often do you see a stock go down 5-8% day after day? It’s quite a sight; here’s a sampling:
Well, Virgin Galactic (SPCE) was already a train wreck as of yesterday, but today it’s even worse, now that news has hit that founder Richard Branson has handed $150 million of SPCE bags to various retail holders around the world. I wrote somewhat derisively about space tourism in a premium post two months ago. As of now, SPCE is down about 65% in a mere in two months. And that, my friends, is why Richard Branson is richer than we are!
