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AMZN gives WBA the boot

Ever since this summer when AMZN kicked the tar out of COST and WMT for buying toney retail space owner WFM, I have been waiting for the next victim.  Meal maker BLUE got thrashed but that was kind of a David and Goliath battle anyway.  WBA is no market pansy but rather a real heavyweight globally in prescription drugs.  It did not matter much as the leader premium got kicked out of WBA in a hurry.

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The market greets WMT

Not much to write about today.  The biggest news is that the NFL might review its “take a knee” policy and that as you know would overshadow any economic news.  I did find headlines about the Chinese government taking an “active” role in the big Chinese internet companies and I am thinking long term that cannot be good.  BABA and BIDU were both done a bit after torrid runs.  My story for today is WMT because it broke the 3 day rule I just wrote about and what the heck I own it too.

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The 3 day rule

The 3 day rule

No, I did not invent the 3 day rule, but I like it.  In the old days a stock that went up 3 days in a row was susceptible to a pullback.  The 90’s put the rule on hold and QE messed with it as well.  Basically it is the old tape readers logic that 3 days in one direction is not sustainable.  With equity prices it is not a bad swing run timing thing, but it works very well for volatility, QE be damned.

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NVDA to the moon and beyond

Not very long ago NVDA was a $30 stock.  Now that the world has caught on to the many uses of GPU’s NVDA is a $190 stock.  Citron hated it at $100 and that was $90 ago.  With earnings coming up the MOMO crowd will not be able to let NVDA go so I think there is reasonable support for the name.  The question is if I can make some upside cheap enough.

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