Canaan Inc. (CAN)

9.69
0.98 11.25
NASDAQ : Electronic Technology
Prev Close 8.71
Open 9.01
Day Low/High 8.91 / 9.82
52 Wk Low/High 1.76 / 8.69
Volume 5.81M
Avg Volume 1.71M
Exchange NASDAQ
Shares Outstanding 132.90M
Market Cap 285.15M
EPS -1.00
P/E Ratio N/A
Div & Yield N.A. (N.A)

A Systemic Loss of Character

* Its valuation deflating and market unfriendly * Another rant... There is a lack and loss of character in our markets, in social media, with our policy makers, among some of our most powerful corporate leaders, on Wall Street and, even, too often w...

Another Lesson Learned

My favorite short gewgaws continue to get crushed: , , , and .  The magnitude of the declines from their respective early 2021 highs -- at a point near where many price momentum based strategists/technicians were aggressively and confidently buying/...

This Looks Like Topping Action

From my perch there is little to "like" about the market over the last few days. (Remember... tops are processes, bottoms are events.) A number of individual stocks look dreadful -- even "beast mode" Amazon is down about 12% from the recent after-ho...

I Remain a (Non Consensus) Bitcoin Bear

* With the recent fall in cryptocurrency prices, down seven of the last eight days, the "cool kids" may be getting worried now * Are cryptocurrencies a giant fraud? * From my perch, and minority viewpoint, cryptocurrency holders are more lemmings th...

Minding Mr. Market

* The decline in speculative stocks has been historic and broad-based - something I have been expecting for months * I remain bearish on the overall outlook for equities   Yesterday's market was brutal and broad-based to the downside:  * The specula...

What Could Possibly Go Wrong (With Cryptocurrencies)?

* There are now over 100 Crypto Assets worth over $1 billion (that's a new record) * Dogecoin, which started as a joke, hit a $50 billion market capitalization on Friday * Investors want to believe in the value of cryptocurrencies, in the prophesies...

Minding Mr. Market: The Coin Toss

* I ended the day in a large net short exposure (personally)   Some observations:   1. I was wrong on where I thought Coinbase would open, but I was correct that it should be be avoided (or shorted on the opening at $381) as it closed at $328. See "...

New Buy (and Short) Levels

* My revised levels I don't want there to be any ambiguity about the size of my positions, or about my buy and short levels, as I strive for as much transparency as possible. This column is a continued commitment towards that sort of disclosure. "Wh...

Minding Mr. Market

Stock futures have continued their climb this morning (5:20 am) - with S&P futures +12 handles and Nasdaq futures +95 handles.  As I wrote in "There Is Always More Than One Cockroach":  "The 1966 season took its toll on Los Angeles Dodgers pitcher S...

Nothing Normal About This Market

The speculative gewgaws have lost their bids again and are falling back to earth.  , , , ,  , , etc., getting taken to the woodshed.  Usually this portends broader market weakness - but there is nothing normal about this market.  Meanwhile, in part ...

There Is No Market Leadership

* Slowly, but very surely, prior market leaders have crashed * At times, markets can churn when leadership is unclear or non existent * But, given current high valuations, a more ominous market outcome seems more likely * Consider "Uncle" Bob Farrel...

Take the Money and Run

If I was trading I would probably be out of all my speculative gewgaw shorts - like , , , , , etc.  

Gewgaws Collapse

* To this observer they are shorts on any strength  My speculative shorts --  (-9%), (-5%), (-5%), (-9%), (-7%), etc. -- continue to stink up the joint.

It's Getting Darker

In looking at some of my speculative gewgaw shorts (like and ) coupled with a possible breakdown in the Nasdaq and Russell... things are growing darker.  

Spec as in Dreck

Yesterday the speculative gewgaws fell apart (e.g., , , and , etc.). Today the larger cap concept stocks are taking a fall ( e.g., , and ).

You Done Tore Out My Heart and Stomped That Sucker Flat

"You keep on stompin' And my heart is on the floor..." - Lewis Gizzard, You Done Tore Out My Heart and Stomped That Sucker Flat  In yesterday's opening missive, "The Market Is a Hard Dog to Keep Under the Porch," I argued that the U.S. stock market ...

Gewgaws = Schmeissburgers

Bitcoin peripheral plays -  , , ,  - continue to get led to the woodshed after large losses yesterday.  I would consider selling or shorting all of these names.

The Market Is a Hard Dog to Keep Under the Porch

* The U.S. stock market remains materially overpriced * I would use market rallies to reduce equity exposure * Value is stretched now (financials and energy) while growth valuations are vulnerable to higher interest rates * I am looking towards some...

I Remain Negative on the Markets

Today's feature was a (not surprising) mean reversion back from value to (recently depressed) growth.   Given the interest rate rise, I suspect there is a limitation or ceiling on growth stocks over the near term.   Indeed with Invesco  having peake...

Speculative Gewgaws Getting Schmeissed

Speculative gewgaws I was short - up until Friday - are getting schmeissed in today's trading session - , , , and .  The construct of the Russell Index has grown increasingly speculative - the constituent components are indicative of the Index's poo...

Assessing the Damage

My Takeaways * The damage today was broad-based * I ended the day with a medium-sized net short exposure (down from very large at the beginning of the day) * Banks may have had a buying climax today * Tech (especially of a speculative-kind) remains ...

Spec Tech as in Dreck

* Even a blind squirrel (like me!) gets lucky now and then! * Large price declines in speculative gewgaws (that I am short) were plenty yesterday * Some of my spec shorts - CAN, MARA, PLUG (-25%!), RIOT - fell, on average, by over -10% each in Tuesd...

Hot Pockets of Speculative Action Are Shifting Fast

Hot Pockets of Speculative Action Are Shifting Fast

Traders have to move very quickly to stay ahead of the game.

The Bulls Are Back in Town: 20 Stocks I'm Trading

The Bulls Are Back in Town: 20 Stocks I'm Trading

There is so much going on right now that it is overwhelming.

How I'm Playing the Sudden Reversal: Bitcoin, Cannabis and Gaming

How I'm Playing the Sudden Reversal: Bitcoin, Cannabis and Gaming

The key here is bonds.

Today's Trades

Additional add on longs today - and Additional add on shorts today - , , , and . New short and add on today-

A Word About Speculating in Shiny Objects Du Jour

* The sky is falling for the shares of many of the gewgaws of yesterday or of the week before! * I remain short the stuff that "they" have been buying * History rhymes...  Some on our site and elsewhere have recoiled privately and publicly at my vie...

Short Adds

I have added to the following shorts: , , , , , and .

There's an Oversupply of Positive Action Right Now

There's an Oversupply of Positive Action Right Now

The longer this continues, the more anxiety there will be about being underinvested.

I've Been a Buyer Friday, Making Partial Buys Like I Always Do

I've Been a Buyer Friday, Making Partial Buys Like I Always Do

It's premature to predict that a low has been made, but plenty of stocks are quite washed-out already and are starting to find support.