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Do You Smell a Top, or Just Kona Gold?

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I’d be lying if I told you I smell a top. That would be like noticing a fart in a coffee roasting plant. With exuberant expectations of stimulus until kingdom come, the rapturous aroma of Kona dark is all that investors detect when they sniff the air for the scent of trouble. After all, what could possibly go wrong?  Even at full-tilt war, Democrats and Republicans still agree on one thing — i.e., that the money spigot must remain open no matter what. They differ only as to a timetable and how many trillions of dollars should be force-fed into the economy in the next round.  Meanwhile, companies are so flush with cash that they don’t know what to do with it all  — other than the obvious: buy back their own shares.  And now comes a vaccine said to render Covid-19 harmless in 94% of those who get two shots spaced weeks apart.

All this aside, I am not relying on my sense of smell — which is to say, my instincts — to warn of trouble just ahead. However, I do see distinctive topping patterns in the charts of no fewer than three important trading/investment vehicles.  Subscribers should be familiar by now with the precise details, including price targets and some cheap ways to get short. Even if it turns out that I have overestimated the threat of a major selloff, you should still be on high alert. If a rally instead impales my Hidden Pivot resistance points, we can always go back in the water and surf Mavericks with the crazies.

Please do not ask trading questions!

  • Rich December 18, 2020, 1:03 pm

    Thanks Rick
    Takes guts to speak the truth
    Ask Galileo

    We just passed peak greed
    (Scroll down to bottom)

    https://tinyurl.com/y4f4vq72

    TSLA poster boy for Extreme Greed

    Worth VW, TM, GE, Daimler, Nissan, Honda, Hyundai, F combined
    as car sales falling 3 million units in 2020 ?

    First nurse to get the jab fell to the floor on live TV ?

    Didn’t make this up…


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