They're banking on a 2x top. = within this formation now there's a H & S, which broke trough the base line, almost always when it breaks through the neck line like this it comes back to test the neckline again. Most prudent shorts will establish new positions here. This has happened but of course we have the wild card, DC which can jerk you temp up or down. They say never fight the trend & the trend in DC has been to go over the line, just the way it is. The news media has blown the cliff theme to the point everybody is in a manic state.
"This has happened but of course we have the wild card, DC which can jerk you temp up or down"
so it is an so it always has been. But reflect back to the last great keynsian experiment.....late 1930s. The FDR administration boosted the stock market only to see it crash in the late 1930s. Ironically John Maynard Keynes, [starter out homosexual,, went heterosexual... talk about flip/flopping] was also a stock speculator.
large debate on the role of goverment spending took place just like its taking place now. SO instead of pumping RCA in the 1930s we get the momentum traders pumping Amazon.
this aint a done deal. A stock with no chance of ever justifying a 120 billion dollar market cap will fail eventually, even if the DC pump continues for awhile.
Funny, thats right about where sybs got a few limit coverz set at.... Given that sybs most recent shorts are north of 248, that would be some good gainz to scrape... Sybs not totaly greedy and willing to play a multi week 'bounce trade', but by no meanz iz sybil gonna cover a whole lot of shorts at 218.... Sybs got an eye for 120 coverz set for down the road....