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Sunday Shorts: Downward Happiness Continues

Published 07/19/2021, 02:14 AM
Updated 07/09/2023, 06:31 AM
MU
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TUP
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XLB
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ON
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PVH
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XLF
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PRPL
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LOVE
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As promised, here's the second set.

It’s been a long time since I’ve felt so energized about the stock market. Bit by bit, things are truly beginning to break down. I am loaded to the gills with very large put positions on sixteen different instruments right now. Here are eight more of them, along with some brief commentary. I have zoomed in on what I consider the most germane portions of the chart.

Seller-of-furniture-made-out-of-cushions The Lovesac Company (NASDAQ:LOVE) has completed an exceptionally good head and shoulders topping pattern.

Lovesac Co. Chart

I am just bonkers about Micron (NASDAQ:MU). I mean, just look at it.

Micron Inc Chart

Likewise, I am nuts about ON Semiconductor (NASDAQ:ON). These two semiconductor stocks have the potential for absolute ball-busting wipeouts.

ON Semiconductor Corp Chart

Another overpriced seller of furniture made out of foam, Purple Innovation (NASDAQ:PRPL) is about to complete a cataclysmic top.

Purple Inc Chart

PVH (NYSE:PVH), which I think makes overpriced apparel, finished its topping pattern on Friday.

PVH Corp Chart

Ah, here’s our old friend Tupperware (NYSE:TUP), which has already lost 50% from when I first started touting it earlier this year.

Tupperware Chart

The Materials sector (NYSE:XLB) fund needs to cross below that green horizontal to start the party.

XLB Chart

Finally, the Financials have their own green horizontal which, if broken, sets us up for a trip to at least that supporting trendline beneath.

XLF Chart

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