Daily Archives: March 2, 2012

My Dinner with Andre

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I don't go to the movies to be entertained. I go to be transformed. Sometimes it happens, and when it does, I watch the movie again and again. I guess I'm a person who feels he needs a lot of transformation.

One of my favorite movies of all time is 1981's My Dinner with Andre. I've easily watched it a dozen times. I was pleased and surprised to see it available for free in its entirety on YouTube. I wanted to share this with you. Even if you don't want to take the time to watch it, at least listen to it in the background while you're doing other things. I find it to be captivating and, in places, heartbreaking.

Schiff for Brains

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I've seen a lot of chatter lately about the interview with Andrew Schiff in which he complained about how hard it was to get by on just $350,000 a year. The "smaller bonuses" environment on Wall Street is hitting the well-off in ways that the middle class finds, shall we say, unsympathetic. There are, last time I checked, 1,559 comments on this one story, pretty much all of which tell Mr. Schiff to get stuffed.

Schiff, who bears a disturbing resemblance to Judd Hirsch in Ordinary People, was not the only suffering 1% to be interviewed. Regarding another individual, the article states: "Scheiner said he spends about $500 a month to park one of his two Audis in a garage and at least $7,500 a year each for memberships at the Trump National Golf Club in Westchester and a gun club in upstate New York. A labradoodle named Zelda and a rescued bichon frise, Duke, cost $17,000 a year, including food, health care, boarding and a daily dog-walker who charges $17 each per outing, he said."

I actually sort of understand what the people interviewed are trying to say: once you get used to paying for a certain lifestyle (private school tuitions, nice cars, a vacation home, a gardener, etc.) it all adds up to a pretty big figure that needs to be covered each year. I have a good income that most of the U.S. would think of as pretty healthy, but believe me, I'm always worried about money. If I were a single man living on his own, I'd be living like a king (or, more accurately, I'd be able to save about 80% of my income, since it really doesn't cost that much for me to survive on my own). But these days, tuition to elementary school for just one of my children is literally four times what I paid going to a private college each year. And that's just one of many expenses.

For those of you out there who are pulling down big salaries but have seen their massive bonuses trimmed down to simply very big bonuses, here's my tip: don't go near a microphone. It's really not going to do you any good.

Negative Divergences on CAT

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Below is a Daily chart of CAT. Price made a new all-time high on February 24th. There are negative divergences on the MACD, Stochastics, and RSI indicators, volumes are declining, and Bollinger Bands are tightening.

One to watch, in particular, as related to emerging markets and BRIC countries, which are also trading under similar constraints at major resistance levels, as outlined in my post of February 27th.

Near-term support lies around a Fibonacci, channel, moving average, and price confluence level of 105.00ish.