Twitter opens in the $45s, when a few weeks ago..the mainstream considered $20 a bold target. It remains a market of delusion..of insane valuations. Meanwhile, the main indexes are a touch weak, lead lower by the Trans/R2K, lower by around 1%.
sp'60min
Summary
Hourly index charts might have floored...difficult to tell.
The trans/R2K are still suggesting sp'1730s are viable within 'a few days'..but underlying pressure remains so bullish, I simply think the short side is effectively pointlessly untradeable.
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TWTR...making a run for the big $50
It is indeed utter hysteria though. No profits...mere 'hope'.
*I kinda like the charts with only one candle. Makes technical analysis easier.
11.08am... heavy selling comes in to TWTR at the big $50 psy level.
44million traded, on a float of just 17 million (I think). crazy
11.23am... black-fail candle on TWTR just earlier...$44s. If we see sub 40s by 2pm...the closing hour could be hilarious.