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In contrast to Rivian (prior post), you might consider shorting Lucid (LCID) which not only has just about perfectly sealed a beautiful gap, but whose cars I’ve always found pretty damned hideous. The TSLA mania will die off at some point, and when it does, the wanna-be companies will fall all the harder.
I’d humbly like to suggest you consider shorting Amazon (or, like me, buying January 2024 puts on the sucker). My view is that the tremendous ascent that took place in the first half of 2023 is going to start unwinding. That mountain range of overhead supply will, in my opinion, suppress any further ascent.
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Nvidia is finally getting a bit shaky, which is important, since NVDA (and the entire AI hoax) is the foundation upon which this entire so-called “market” is based.
I often point out, for stocks, that are descending, that it’s easy for the brain to look at a chart, see the price at the bottom of the chart, and figure it can’t go lower. When we see a person standing on the sidewalk, we don’t assume they’re going to sink into it. Likewise, a price should stand firm at the bottom of a chart. Right?
An easy way around this delusion is by way of SlopeCharts‘ ability to be stretched. Looking at Lucid (LCID), we can see the stock is making lifetime lows every single day, and there’s nothing standing between here and $0 except the Almighty.
