US equities open on a positive note, although its arguably just a bounce of yesterday’s powerful downside reversal. VIX is a little lower, but will be prone to the 23/24s… whether later today or tomorrow. WTIC $71.50. Gold $1986.
sp’60min
VIX’60min
Summary
Yesterday’s bearish engulfing daily candles really ought to play out, with indexes to turn red at some point today. Natural target is psy’3900, where yours truly would like to exit, whether later today or Friday.
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notable horror: COIN
The SEC is on the case.
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notable stock: TSLA
The s/t speculative buyers are still out there. Momentum has turned positive.
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notable semicon: NVDA
One of the most ludicrously valued stocks. FPE >40, as the stock should be cut in half, although that wouldn’t take out the Oct’ low of $108s.
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notable bank: BAC
I see any upside as shortable. M/t bearish 16/15.
I was going through a few PF charts last night…
Computer is seeking BAC to $20, which looks realistic by mid May.
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notable fin: SQ
Hindenburg (ohh the humanity!) Research have targeted Block as their next Big Short. Sister PYPL is being dragged lower, if only a little.
Yours… a client of both.