On the opening trading day of 2016 I suggested making some charts to take the emotion out of the then-looming crash.
For those of you who’ve been understandably avoiding your portfolio, the crash is here. At least it for some stocks it is (RIP: GoPro).
As I type futures are higher but yesterday started strong and ended in tears. Bear markets, and we are in a bear market, don’t so much have “trends” as thrashing convulsions. Deal with these things as one would an enormous living fish in the bottom of a canoe. It’s caught you as much as you’ve caught it. Caution is advised.
Here are some charts from earlier this year, updated to represent the ongoing nightmare. Back later. Try not to rock the boat…
S&P500: Support at 1860 is too obvious… Headed for 1,700?
1708 is an official Bear Market. If you wait for someone on TV to tell you when a bear market has started you’re going to end up in the Bear’s stomach. I’m telling you it’s a Bear. I’m as qualified as anyone.
Amazon: Filling gaps, as it does…
“Peak Amazon” was pretty good, as graph titles go. Shares are off 16%. History suggests about $525 is a decent spot to start building positions.
Apple: Honk if you’ve lowered your Q4 iPhone estimates!
Rough Day for Facebook
Twitter is like GoPro without the cool cameras… (Yes, I’m still long)
The Red Menace at Summer Lows
