I’d like to trot out our old friend IYR (real estate ETF) once again as a prospective short-sale candidate (or, in my case, long puts, as I did acquire those today). The little fellow has sealed its gap (and then some). I confess, some ETFs are acting a bit stronger than I expected (I’m looking at you, XLV, but hope springs eternal in the bearish breast.
Here’s the analog I’ve shown a gazillion times. To be clear, this stops being an analog a while ago, actually, but it is actually better than before, because its present top is far superior to the pre-Covid one.
Oh, and by the way, I meant to cause no harm or hurt feelings with my Stupid Stoners post to my fellow Slopers who are spending their days and nights enveloped by a thick cloud of marijuana smoke. I tend to be quite strident in my views, sometimes to the point of being Puritanical, and it might be wiser to keep my damned feelings to myself. To each his own, and Lord knows I have my own vices. I’m not sure if I’ll ever kick my daily Philz chai habit. But the photo below, I want to emphasize, was strictly staged.