The Bell Is About To Be Rung
It looks like the major stock market averages made their likely highs on Monday. The poster boy for this last speculative spike, run-up to the top (No, it isn’t NVDA) is about to ring a bell that the game is over and done. It may tag $1000 today or tomorrow or it may fall just short of that 4 digit round number. Either way, (SMCI) SuperMicro Computer, has been unbelieveable and is in the last day(s) of it’s blowoff top. Congrats if you had this one. (I did not) Ring the register. (This is not investment advice, just my opinion.)
What a run for SMCI and what a chart! Parabola!
So you think, markets are finally ready to take a breather? Shorts should be by now bruised, beaten up and many should by now accept the new rule, that markets will never ever significantly correct any more. I tried with puts couple times and got slapped left and right. So I decided to stop with hedging and rather try to get something on a cheap at/after correction if luck will be on my side.
Yeah, time for markets to correct now 🙂