Semis have had an amazing run, but they’ve reached pretty crazy levels and today’s action feels like the beginning of the end (at least, the end of this run before needing to develop a long base). The past three trading sessions days since Warsh’s Fed comments were interesting. While there was an initial pullback with the rest of the indices, this bucked the trend, gapping up each day (frustrating the crap out of me and, I’m sure, many other bears), and refusing to fall even a tad. The days were grinding sideways and drifting higher in an environment where everything else, including all other tech stocks, were starting to fall apart. I mentioned it in a comment yesterday that I found it unusual and notable that all of the “trending tickers” on Yahoo yesterday were semiconductor stocks.
(more…)Eight Phrases That Must Go
The English language is my stock in trade, and if I thought about it long enough, I could probably come up with fifty recently invented phrases that get under my skin. For the sake of both my time and yours, however, I’ll just offer up eight that spring to mind, rendered by Judge Mishka as worthy of entry:
My Sources of Solace
Today has been terrific. Here are a few positions which have been particularly kind to me and, I hope, good to some of you as well.
Baby You Can Drive My Carvana
I just want to keep chirping about what a beautiful reversal CVNA has. I own September puts on this bad boy, and I won’t close them until it blows up.
Pooling Our Resources
With all the hoo-ha surrounding the Reflecting Pool, it occurred to me that Google Earth has historical images going back for a decade. For no good reason, I decided to spend part of my morning capturing the bird’s eye view of this pool over the past decade (kinda sad, isn’t it?).
Here you go, and you’re welcome:
