Arsita Networks stock (ANET) hits the 200 target established months ago
NFTRH most certainly is not a gold bug service, although I think that is how I am primarily identified. I don’t play the gold bug game of trading with my heart and convictions, my very soul. I play the game that this giant pig known as the financial market presents.
Most gold bugs will tell you that there seems to be an official bias against honest money and monetary systems, and I would tell you the same. Put another way, there is an official bias for grift and dishonesty in a system that is run on nothing but the ability to manufacture and leverage debt. Well, I have my thoughts about a possible coming end to that. But that’s not what this post is about.
This post is about ANET, which was added per the trade log in March with a target of 200 identified, sold for a nice profit, added back again on a harsh pullback (that I called B/S on as it got hammered because another networker moaned about its lagging AI business in a quarterly release), came out with winning earnings and blasted up to target.
Here’s the weekly chart having ticked a hair below 200. I sold it because it’s at target and I don’t want to be greedy, but also because I don’t love what I see potentially developing in the broader macro. No alarm yet, but I don’t like it. Hence, bird meet hand.
The weekly chart is not overbought and could (and probably would, if the market resumes bulling) simply keep going up. But with cash paying out nicely in a no-lose proposition I choose to keep things close to the vest.
One day when certain gyrations have worked through the markets – quite possibly in fairly short order – I could see myself short many markets and long one market. That market would be the miners of the anti-bubble.
But for now, trades like this produce cash, which can be stuffed in a mattress that is paying out a nice income. When the inevitable liquidation comes sooner or later, that cash will be more than just a 5% earning tool.
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