SNAPCHAT INC. missed estimates last night and is down a whole bunch today, -35%. Normally this would bode poorly for ze bulls and their nerd stocks, but I suspect none of that shit will matter today.
The bulls are going to keep buying stocks until someone stops them. They have the upward momentum and the cash, plus the abject indifference to risk, and would prefer to die poor than risk not playing SHOP for another 5% of upside.
I closed out all of my positions for a small gain this morning and sit with a small gain of +2% for the week. I know the market wants higher, but I’d rather not participate at this juncture.
Right out there gates we have hospitals, cryptos, and oils running higher. I suspect hospitals are doing well thanks in large part to all of the new patients the COVID vaccines sent their way.
Copper is up more than 2% today, so expect a broad based “fuck you shorts, you’re dead” type of rally.
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might I interest you in gold calls?
SAAS reversed hard
5 month forecast: Lower, then lower, then even lower.