MSFT is the only stock you need pay attention to if you want to read the stock market correctly without making any errors. It has always been an infallible
MSFT is the only stock you need pay attention to if you want to read the stock market correctly without making any errors. It has always been an infallible bellwether because its huge subscription revenues are practically bomb-proof. So what is the stock, which entered a probable bear market on July 5 saying?
In brief, it was a juicy short or near-short in numerous ways this morning: 1) counterintuitively, when it poked its greasy little snout above Jan 6's 434.32 'external' peak; 2) 'mechanically' at 435.67; 3) at voodoo 437.63. The go-for-broke short squeeze on the opening bar tells you how desperate the stock's sleazy handlers are to distribute it. But they are also infinitely clever, so we shouldn't rule out another lunge higher, especially since so many bulls and bears got sandbagged on the opening. Taking a step back, any bear-market rally worthy of the name should seem like the real deal, right? If it hasn't scared bears witless, then it hasn't done its job. This week's two gap-up, opening-bar short squeezes did not quite accomplish that. It may even require a new record high in BTC to set the hook properly.
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