Here’s the Canary in the Coal Mine

If you’re looking for a main market tell on risk and something to use as a canary in the proverbial coal mine — look no further than NVDA — presently circumnavigating the ass end of the FAGbox.

During the Oct-Dec market meltdown, it was the poster child for sharply lower growth stock. It has since recovered, like everything else, but it also is woefully overvalued based on its historical price to sales ratio. I’d watch this stock closely for a move beneath this range. It it happens, you’re all doomed and will soon need to seek respite inside bomb shelters and stockpile food and water for the fires to come.