SpaceX Stock (SPCX)

I am not sure what I see just yet with SpaceX ($SPCX). I do think that I see two developing technical patterns and both of those patterns tend to produce bearish reversals. Here is what looks like a developing Rising Wedge. It does seem to be closing rather quickly. I see the crossover of the 50-day …

It looks like Broadcom ($AVGO) is already back for another fix. It really makes me wonder how there is enough savings in the world to do this, although the Treasury market is telling you there isn’t: Broadcom CDS Explodes As It Seeks Up To $100 Billion In Massive Off-Balance Sheet Debt Deal At any rate, …

I covered my $SPCX shares recently at around $113 (I shorted it at $213). Position: None

I have covered the balance of my SpaceX ($SPCX) short at $111.80. SpaceX is trading under $112, down from my short at $213 and its high of $225. I value SPCX at about $70-$80/share (as I noted at the time of the IPO). My view is that the Musk/Tesla/SpaceX cult (as they did with Tesla) …

I am bidding slightly under the market to cover more SpaceX ($SPCX) (trading under $110). Position: Short SPCX VS