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Although Uber had a terrible time after its IPO, two things have happened over the past couple of months. (1) It seems to have completed a pretty good basing pattern (2) It has done so recently on much, much larger volume than before. I can’t remember seeing such a large increase in trading on a specific stock in recent memory.
Boy – ‘Do not try to bend the spoon. That’s impossible. Instead …. only try to realize the truth.’
Neo – ‘What truth?’
Boy – ‘There is no spoon’
From The Matrix – 1999.
(more…)The holidays are ending and volume should be coming back into markets next week as players return. New Year’s Day on Wednesday is obviously a holiday as well, and the five trading days after that will be closely watched to deliver an indication of how the rest of 2020 might go. I’ll be looking at that stat closely later in this post but first I’ll review SPX and NDX and the position as traders return for the last two trading days of 2019. I would note again that the last trading day of the year is the only historically strongly bearish day in December, with SPX closing down 67% of the time, and Nasdaq down 15 of the last 19 years.
(more…)Well the holidays are upon us, and many of those of us with lives, or even just social lives, have taken a couple of weeks off to do non-market stuff. Even the algos seem suspiciously quiet and may be taking a few days off too. I’m still here because …. well ……. it’s my job, and someone has to stick around to switch off the lights and lock the doors after the last buyer has departed for the holidays. In the meantime I’m doing an update for anyone still around to read it.
(more…)I was originally going to entitle this post “Rich Fruit“, but I immediately suspected it would be badly misinterpreted, so I came up with a second choice title. In any case, it just seems to me that Apple is awfully expensive, judging from its relative position to its long-term channel.
