On Friday morning, a trading friend of mine wrote me and asked me if I thought technical analysis worked anymore. His point – – – and it’s one I’ve considered many times – – is, in this central-banker-planned world in which we now all live, do charts have predictive value anymore? I mean, let’s face it, technical analysis had its own shaky reputation to begin with, In this modern age, with Yellen at the helm, are charts just a waste of time?
Yesterday on the plane ride from Seattle back to San Francisco, I finished up the Becoming Steve Jobs book which I wrote about about a week ago. The book is even more outstanding than I suspected it would be halfway through it. Late in the book, it mentioned Jobs’ last truly public appearance: this one in front of the Cupertino City Council, getting their approval for their gigantic new headquarters building. According to the book, Jobs was in searing pain by this time of his life, but his presentation shows him at his most personable and human self.
I have been railing against for-profit colleges here on Slope for years, beginning with this post back in August 2010 about Corinthian Colleges. I’m hard-pressed to think of any business more cynical that these for-profit outfits, since their formula has been:
- Advertise their services to the desperate;
- Get government loans to fund their sky-high tuitions;
- Have the students go through their program, get a diploma, and still fail to get a decent job (since a Heald diploma may well be more a liability than an asset to a job-seeker);
- Stand aside unharmed as the student defaults and you, dear reader, are left holding the bag
Yesterday’s technical analysis victory (or, as Northman once rudely described it, “occasional winner”) was Iconix. Today’s is less dramatic, but a victory nonetheless: Flotek: