Each candle represents a period of one year on the following Yearly chart of the SPX.
So far, this year’s candle is a bit less than half of 2016’s trading range and the Momentum indicator is almost as high as it was in 2014 (this year’s trading range is about 60% as high as 2014’s).
What this tells me is that, on an annual basis, 2017 is fairly strong at this point and could perform well in the latter half of the year.
Ever since June 9th (the “tech wreck”), all eyes have been on the Internet giants to see if it’s just another small bump on the road to $10,000 per share, or if it’s a change in overall direction. I’ve got to say, looking at Google (oh – – sorry – – “Alphabet” – – I forgot they’ve changed their name to something totally retarded that no one actually uses) it seems to me the excitement over $1000/share is going to get farther and farther away in the rear view mirror.
Since it’s a Sunday (and in front of a quiet holiday week), I thought I’d write about blessings. In particular, blessings disguised as misfortune. To do this, I’ll share a couple of personal stories, each of which involves my former company, Prophet.
In August of 1993, a little more than a year after I started Prophet, we were hit by a devastating burglary (this is all detailed in my video documentary about the company which you can see here). It pretty much erased all the progress we had made since starting the place, and it took us about a year to recover.
At the end of our recovery year, my partner had had enough. He wanted out. This was terribly worrisome for me. He was my only partner, and he had all the technical talent. I was just the marketing and business guy. So his departure seemed like it would snuff the place out just when we were starting to get back on our feet. It seemed like very bad news to me, and he told me the (very modest) sum he woudl require to be bought out of his share.