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Predicting the future is tough. I get that. Believe me, I’ve made more wrong predictions than I can shake a stick at, but God knows I try my best, day in and day out. Thus, I don’t get any jollies about chucking stones from this lovely glass house in which I reside, but I gotta tell ya, I’ve had it up to HERE with Elliott Wave. Allow me to present Exhibit A:
The evidence that we have time-traveled back to 2021 is getting stronger by the day. It isn’t just AMC, or GME, or Bitcoin. Now it’s SPACs. I present to you Exhibit A, the stock of OKLO, which has followed the SPAC playbook perfectly: be at $10 for months, blast higher for a few weeks, and then utterly collapse, taking shareholder value down to the grimy, grease-ridden bottom of the dumpster.
Cracker Barrel keeps crapping out. If this stock is doing this poorly in a totally fake, completely b.s. market, it must be heading to $0 sooner or later.
I honestly thought the whole “meme stock” thing was dead and buried, but as the past few days have proved, this is not the case. The desperate desire to gamble and make huge gains overnight is hard to shake for 19-year-old “traders“, and the stars of the past, AMC and GME, are again the stars of today. At least until about 30 hours ago. Both of these stocks, quite predictably, are getting clobbered, and I am highly confident the blood is just going to keep flowing.
