Seagate down 10% today. Western Digital down 12%. MSTR printing nine red candles in a row. Tim Knight has 30 short positions and almost all of them are working. He says the market was at lifetime highs this week. We are not two or three years into a bear market. We are 17 minutes into one. That is why he is happy to short at these levels.
Nokia completed a head and shoulders. STM broke its trend line. AXTI broke its inverted cup with handle. WDC came terrifyingly close to its gap and retreated. Gold is recovering modestly and Tim is waiting for the right triangle retest to reshort. He sold BITI this morning took the profit regretted it and bought back in by the afternoon. SpaceX settled at its IPO price and Tim says that throws cold water on the OpenAI and Anthropic IPOs.
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