This man who stares at charts saw ROKU getting wiped out post-earnings – as so many growth stocks have this earnings season – and started a position in after hours yesterday. Today on further tankage the position was increased, per plan, on the drop to the SMA 200. As long as the market view is stable (near-term) I figured that taking a shot on the … Continue reading Man Who Stares at Charts Sees ROKU Cup & (Severe) Handle
Earlier in the week we noted US stock market negatives in that EPS estimates are coming down and even more importantly, the over valuation of stocks (SPX dividend yield of 1.9% vs. 10yr Note’s 3.2%); but also that the 2yr yield and 3 mo. T-bill report “still bullish”. Well, after yesterday’s relief rally got everyone’s attention, here is another one that bulls and bears should … Continue reading Attn: Bears, Bulls Want Your Ball; Wedgies to Ensue?