McBubble appears to be forming an expanding triangle into a possible McDiamond top again. Obviously waaaay overdue for a drop, been melting up in a narrow channel, but the wave count seems to suggest that it's going to be a wave 4, not a huge tank.
No position, not gonna play it. Last time I bought puts I made money but the return wasn't all that great. Just as easy to short the Dow with DIA puts. The Dow has basically flatlined here at the top anyways.
No position, not gonna play it. Last time I bought puts I made money but the return wasn't all that great. Just as easy to short the Dow with DIA puts. The Dow has basically flatlined here at the top anyways.
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Thanks to DaddySawbucks for pointing out the divergence. I'll drink some Laphroaig for ya.
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Laphroaig sucks. Must've been pretty drunk the first time I tried it. The worst part you taste it all day the next day.
Now I remember why I don't drink Scotch. Bourbon is just smoother, and doesn't stay with you the next day.
Now I remember why I don't drink Scotch. Bourbon is just smoother, and doesn't stay with you the next day.
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Bouncing right where I drew the diamond. Flight to safety, lol.
This is why I said shorting DIA would net you better returns if you're bearish. MacBubble is not worth shorting, there are better opportunities elsewhere.
People gotta eat even in a recession, and typically they'll choose cheaper food like McD. If you got cash lying around, this may not be a bad place to park it for a few days until the market gets done tanking.
This is why I said shorting DIA would net you better returns if you're bearish. MacBubble is not worth shorting, there are better opportunities elsewhere.
People gotta eat even in a recession, and typically they'll choose cheaper food like McD. If you got cash lying around, this may not be a bad place to park it for a few days until the market gets done tanking.
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Looks exactly the same as the last diamond top so far....