Since it turns out that the woman in charge of information security at Equifax was a music major with no technology background………
…….the company has had its reputation permanently tarnished and wiped out billions of dollars of shareholder value within days. Some folks I’ve spoken with think it’s heading for the single digits. My opinion is that the company has really screwed the pooch on this one, but maybe, just maybe, it’ll find some temporary support around $90 or so, as I’ve drawn here:
It’s the latest installment of Norm MacDonald Live, and this week his guest is Rich “I’m really trying not to look my age” Little. Honestly, the amount of hair dye and plastic surgery is just a little much. All the same, it’s fun to watch.
The triple-bearish-on-energy fund DRIP has lost a lot of ground in the past month or so, but looking at the Bollinger Bands in SlopeCharts (as well as the supporting trendline), it seems like an opportune place for it to find strength.
This is the twenty-thousandth post on the Slope of Hope. Earth decided not to make a big splash about this momentous occasion, because as I sit here on this pitch-black predawn, the ordinariness of the news is striking:
Another provocative missile launch from North Korea – – the 15th this year – – which is drawing yawns and eye-rolls from traders the world over;
Another terrorist attack (I suspect the Amish), this one in London;
Equity markets floating near the highest levels in human history.
How much more fitting it might have been for the Dow to have fallen, say, 2000 points the day before, just to put a spring in our collective stride? (more…)