Daily Archives: July 27, 2017

Norm & Dave

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I’ve mentioned my fondness of Norm MacDonald on many occasions, and I was pleased to see that, after yet another hiatus of Norm MacDonald Live, he is back……..and he starts off with a bang, interviewing none other than David Letterman (who himself has made a point of disappearing from the public stage, but making a special exception for his old pal).

Everything But The Squeal

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The title phrase above is one I’ve always liked as it has a certain elegance and economy that appeals to me. It’s talking about how every part of a pig can be cooked and eaten. That doesn’t just apply to the pig of course, in China the description ‘heart of wolf, lung of dog’ can be applied to people as a statement that they have no redeeming features at all, as these are famously the only parts of any animal that cannot be used in cooking to make something nutritious and edible. Useful to know for anyone that has been hesitating over their first try at preparing panda testicles, sea-lion sphincter or alligator hide.

What’s my point? Well everything is in place for this pullback except the pullback itself, though that may at last be getting started as I have been preparing this post. If that can be sustained into breaks and conversion of the weekly pivots on ES, NQ and TF to resistance, then this show can finally get onto the road. (more…)

Snap Judgment

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My dislike of SNAP has existed since even before its IPO, and I made no secret of it afterward either (see Short Now And Profit from March). I guess my point is that I’m not jumping onto the SNAP Stinks bandwagon at this late date.

I have noticed there is a camp that argues SNAP is simply like Facebook – – another rough start after its IPO, but once it gets on its feet, wow, look out, it’s going to soar. Because, as with Facebook, it’s lost over half its value since going public……….

slopechart_SNAP

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Oil’s Trendline

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Greetings from my undisclosed tropical paradise location. As I gaze out upon the palm trees, nearby islands, and churning waves, and I am reminded again how I’m not really wired for relaxation. The presence of WiFi and SlopeCharts gives me sustenance in a place where saner people lay on the beach and drink rum-based refreshments. (On that note, I have been sober as a judge during this outing, as they drive on the left side of the road here, and I want 100% of my senses available to me at all times).

So on that note, I will say that crude oil seems (hopefully…..) to be obeying its descending trendline. It had a very modest overshoot during the past session, but we’ll see if that really matters or not. Sometimes it does. In the case of gold, I chose to ignore its own small violation on the trendline, and that was a grievous error. Thus, I am more respectful of such things, understanding that, well, a violation is a violation, and it may mean something. (more…)