On the drive up to Tahoe yesterday, I passed by the only Lucid dealership I’ve ever seen. If you don’t know the firm, it’s basically an electric car maker whose only benefit was that Elon didn’t own it, so folks bought Lucid instead of Tesla as a protest. Their mistake, because the car isn’t nearly as good, and I think that’s reflected in the long-term price chart of LCID:
What’s going on with the rental company Avis Budget Group is absolutely bananas. As you can plainly see, this sucker goes up every single day, usually by a double-digit percent. Rough as this month has been, I can at least take solace in the fact I’ve never tasted this bear cyanide.
Indefatigable devil that I am, I have been scanning the ETFs for any interesting short opportunities as these nosebleed levels. Looking at the domestic ETFs, I found precisely {checks notes} dick-all.
However, the Chinese ETF symbol FXI looks worthwhile, given the right triangle top that remains quite fully intact. I have shorted this just now with a stop-loss at 38.15. Beneath this chart is a longer-term one as a line chart, to eliminate the gap noise.
