11/6/26 - $docu - the ultimate honeypotDocuSign, Inc.NASDAQ:DOCUVROCKSTAR11/6/26 :: VROCKSTAR :: DOCU the ultimate honeypot - the most sensitive docs - and the easiest system to replace in an org - imagine seeing NOW report, $ddog... decent companies (just massively overvalued), then you see TEAM fart. FIVN get slizzard and fly like a g6 into your local florida neighborhood - and you think "you know what i'll play contrarian" on DOCU - mark. my. words. - any software that doesn't have atoms attached to it (network effects are atoms, often)... is going to zero. - and the market's passive bid (which we've talked about being the bubble - we got a preview in AI infra the last few sessions about how everything is the same)... means all these stocks are being treated similarly. MSFT goes up. ETF buys some $docu. but the reflexivity is brutal. - what will happen is we'll go through poor earnings, weighting will decrease. take profit for those actives left. then beta risk off on software, msft goes -10% and docu does -25-30%. and even on a 30% pump on the higher beta DOCU, it will be a much lower part of the index. - the capital will crowd it out. it will up and down to zero - look at all the trash memes of yester-year that i've written about - imagine "calling the bottom" on quantum here anywhere above zero - imagine "calling the bottom" on SMRs anywhere here above zero - imagine believing LUNR is going to the moon, or even that the moon is what anderson coooper would have you believe - wake up friend. - DOCU generates $700-800M of actual fcf (back out SBC as anyone who's there will be seller...) on $14B valuation and you're at 5% when the treasury will pay you this... and on comps that will go dramatically negative. - and you'll see that paying a growth multiple on negative growth, nevermind slowing growth path (see AI-related) will send this thing -60-70%. and it's not a buy there. - heed the skeptic. i'm not actually short (let's see into print), but on a pop (which i'd say is a 20-30% probability) i'll bite. V