Daily Archives: January 26, 2018

USD/Euro to Be the 4th Horseman?

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I find the previous two monthly charts of USD and Euro to be of such great interest that they could well be assigned the designation of Amigo #4. But that would screw up a perfectly good (and goofy) theme.

I could shoe horn them in as the 4th Horseman (thought I forgot about this theme, did you?) but the 4th rider was to be the Gold/Silver Ratio (GSR). We’ll see on that, because the GSR has been a dysfunctional indicator for so long now.* USD & Euro may yet be the 4th Horseman of the Apocalypse to help bring on the pain after the happy go lucky goofballs above finish up. (more…)

… And To Finish Monsieur, A Wafer Thin Triangle

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I said on my twitter this morning near the open that both ES and NQ had formed bullish triangles that should at minimum deliver full retests of the all time highs on both in the near future. ES did a new all time high this morning and NQ has now scraped a new ATH by a tick this afternoon. Those are the minimum targets made and we could see a reversal here, though obviously we may not, and historically even if we do, significant declines on Friday afternoons are a rarity.

I have a quick look at how these triangles tend to behave on the video below and would also note that these triangle thrusts tend to be termination moves, and if that is the case here, then after the triangle thrust is retraced, ES and NQ are likely to continue down into what might at least be a retracement that lasts more than a day. Who knows, or dares to dream, or can even remember what such a retracement might look like? :-) (more…)

Overhyped

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There have been a number of stocks that tied themselves to the crypto comet in order to boost their own sagging stock prices. There’s Kodak (KODK), Long Island Iced Tea (LTEA) and, shown below, Overstock (OSTK).

Yesterday I shorted a small position of OSTK, partly because of its history of having a crazy-huge breakout and them falling, and partly out of my own experience with the actual company. My family buys stuff online pretty much constantly (our annual Amazon purchases have been in the five figures for years now). But the ONE time I bought something from Overstock was just a nightmare, and I was amazed the company was even in business (plus their CEO has some weird hangup about short sellers). So – – feh! – – I’m short.

slopechart_OSTK

My Friend Dahmer

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For some reason, I stumbled upon the name Derf Backderf a few days ago, and I decided to explore his work a bit. He’s written some graphic novels including, most famously, one called My Friend Dahmer (since he was literally a friend of his during middle school and high school).

I found the book online, and I read the whole thing cover to cover in one sitting. It was amazing to read. I also discovered that last year a movie was made of it. It’s hard to think of a serial killer as a sympathetic figure, but having going through My Friend Dahmer, I can actually take some pity on the man and how he got to where he got. Here’s the trailer: