Target - Why Is Everyone Desperate To Long Disasters?Target is another example of the so-called "contrarian" trade that circulates on financial social media where, somehow, everyone puts on their VERY SMART PERSON baseball caps and gets long because it MUST BE TIME FOR THE MOTHER OF ALL SHORT SQUEEEEEEEEEEEZES.
And yet time and time again it never works.
Paypal is a really fine example.
Paypal - Going Long In a Bear Market?
I mean cool, if you bought at $59 in May (you didn't) and sold at $77 on the last two days of July (you didn't) then you made $18 a share and are a VERY SMART PERSON.
And then it gave it all back in a day on earnings and people are killing themselves buying the dips again.
Same with T-Mobile, Verizon, and Disney
Disney - Is Your Compass Upside Down?
It's at long time lows. Went up a bit on earnings. And then gave it all back over the span of a few days and people are still "buying teh dip," primarily because some Signal or Discord or picture of a girl on Musk's new Xeeeeeeeter app said "muchwow prize target nao $120 be a winner like me and BUY CALLS."
These are things that you need to stop doing. When something trades like a bag of doorknobs for a long period of time it's because it really is a piece of crap that will eventually go lower, and so instead of buying that dip, sell that rip.
Better yet, ignore this kind of junk and trade what is actually trending, the indexes, or just go outside for a month or two and come back when the chop is over and save your trouble.
Look at the monthly bars on Target. "Zoom out," they always say.
I understand this because in the first two months I wanted to go long on this thing for at least a retrace to $150 too.
But instead the old "support" has become new "resistance."
And this tells you that new lows are most likely coming.
And when Target flirts again with $100 people will go even more bigly long.
The longs trapped from $125 and $130 will double their position.
But this piece of crap probably won't bounce.
Have you actually been on their website and looked at the clothes they sell? Look at stuff like women's intimates (lol). Do you know they have an isle in the stores devoted to fleshlights?
Do you know that they allow people to steal?
That, my friends, is real "fundamental analysis". What's the bull case? That someone told you the EllLioT WaVeS SaId $160 MiniMum?
This is a chain that was bounced out of Canada because it was Zellers 2.0.
These markets, all the equities, all the commodities, the entire world is in for a rough future. The rough future might only last for a few months, but it might last for a few years.
If you don't "paradigm shift" ahead of schedule, by the time you do get your paradigm shifted forcefully, it will be too late for crying.
And so my only wish with these things is to wake you up. China is the world's central stage and what's going on with Xi Jinping, the Chinese Communist Party, and its 24-year persecution against Falun Dafa is the fundamental story that everything else is a slave to.
Time to wake up, my friends.
