Daily Archives: August 31, 2017

Unemployment Lines

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Friday morning’s jobs report is a fairly important news event – – – one on the calendar, at least, as opposed to these (ultimately meaningless) missile attack threats from the lunatics in North Korea. I’ll be watching the ES most carefully. It has been in a range for a while, and after it broke out, its ultimate peak was precisely the measured move (see green tints). Suffice it to say, it would be mad for me if we pushed to new lifetime highs.

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Behold the Rulers

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I have a watchlist in SlopeCharts of 140 symbols that I called PermaRisers. These are stocks which basically seem to go up pretty much forever, irrespective of…………anything. It makes me wonder why there’s an entire industry of financial professionals and advisors (to say nothing of financial bloggers like myself) when it seems everyone could just dump everything into securities like those shown below (click on any of them for a bigger picture and to see what the symbol and company name are). Simply stated, you could put a ruler on the screen diagonally, and the price would never dip beneath it.

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August, Die She Must

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The autumn winds blow chilly and cold.
September, I remember…….
A love once new has now grown old.

At this point, I think if North Korea announced an imminent attack, the market wouldn’t even bother going down temporarily. It would simply commence its post-missile buying, since, after two times now, it probably wouldn’t want to bother with a five-hour selloff.

But the third time isn’t here yet; we’re still bouncing higher from the second. We got aggravating close to some serious selling, but the Japanese Yen saved the day. As you can see in the cross-rate below, the US dollar was about to break important support, but boing, it recovered. Until we break 108, things aren’t going to change.

0831-jy

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