Sunday Shorts: Downward Happiness Continues
Tim Knight | Jul 19, 2021 02:14AM ET
As promised, here's the second set.
It’s been a long time since I’ve felt so energized about the stock market. Bit by bit, things are truly beginning to break down. I am loaded to the gills with very large put positions on sixteen different instruments right now. Here are eight more of them, along with some brief commentary. I have zoomed in on what I consider the most germane portions of the chart.
Seller-of-furniture-made-out-of-cushions The Lovesac Company (NASDAQ:LOVE) has completed an exceptionally good head and shoulders topping pattern.
I am just bonkers about Micron (NASDAQ:MU). I mean, just look at it.
Likewise, I am nuts about ON Semiconductor (NASDAQ:ON). These two semiconductor stocks have the potential for absolute ball-busting wipeouts.
Another overpriced seller of furniture made out of foam, Purple Innovation (NASDAQ:PRPL) is about to complete a cataclysmic top.
Get The News You Want
PVH (NYSE:PVH), which I think makes overpriced apparel, finished its topping pattern on Friday.
Ah, here’s our old friend Tupperware (NYSE:TUP), which has already lost 50% from when I first started touting it earlier this year.
The Materials sector (NYSE:XLB) fund needs to cross below that green horizontal to start the party.
Finally, the Financials have their own green horizontal which, if broken, sets us up for a trip to at least that supporting trendline beneath.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.