The winter cold has set in hard around the San Francisco Bay Area (even though we’re technically still in autumn), and, now that all the day’s tasks are done, I finally have some time for a proper post.
Looking at the big equity indexes, things kind of stalled from the vicious upsurge at the point I’ve marked in green. We’re in a (very!) modest down-channel right now, and the real moment-of-truth comes if and when the price can penetrate the level I’ve marked in magenta. (more…)
In the post I did last night, I mentioned how “the new form of segregation is wealth distribution.” Well, the very next day provides us with a superb example of what I’m talking about. In the short clip below, you see a Google employee (who is very well-paid and, as all other San Francisco-based Googlers, whisked comfortably, for free, in a private bus each day from San Francisco to his company half an hour away) in a shouting match with a woman who is part of a protest of all the rich high-tech types that have taken over SF. He slips early on by revealing his true feelings, proclaming that “this is a city for the right people” (which means guys who are rewarded salaries well into the six figures straight out of the “right” college.) With Twitter nailing a new high today, the “right” people are more “right” than ever. (more…)
Island reversal patterns don’t happen that frequently, but I spotted a terrific one today in Sherwin-Williams. I have shorted SHW with a stop-loss price of $187.99.
OK, I’m back in front of my computers and ready for the new week. Here’s my first idea, which is based on a modest topping pattern and gap-fill: