University Avenue in Palo Alto sparkles at night with trees illuminated with carefully-placed lights by the thousands. The street has been around as long as the town, and in the year 2017, it is a veritable Rodeo Drive, lined with expensive retail stores, wealthy citizens, and dreams of avarice. You hardly ever see anyone wearing business clothes here – – anyone so doing would be rightly perceived as an out-of-town rube – – but it is on this street that companies such as Google and Paypal got their start and the recipients of technology riches shop, eat, and gather.
Editor’s Note: What you are about to read is dead wrong. So keep reading, because there’s a correction later…………
As I mentioned when SlopeCharts was introduced, one advantage of forcing me off ProphetCharts (which I have been using for a dozen years) was that I would get a fresh perspective on the markets. With all my symbols, trendlines, and other embellishments gone, I’d be able to perhaps shake off some old biases (or at least reduce them).
In that spirit, I offer this rather surprising post, in which I offer up the prospect of equity markets rising another 10% or so. Now perhaps my stating such a thing – – me, the permabear, saying something broadly bullish – – will be taken by some as a sign of the market top. I’ll happily exchange ridicule for top-ticking a market in exchange for a true downtrend! But regardless, here we go……….
One of my favorite people of all time, Norm MacDonald, somewhat famously embarrassed Courtney Thorne-Smith in this Conan interview back in the late 1990s. If you haven’t seen it, you absolutely should watch the whole thing, or if you have seen it a dozen times, like me, you will enjoy watching it again.
On Thursday, May 4th, I tried to do something that I’ve done for about 4,300 consecutive days: launch ProphetCharts. However, for the first time ever in those 4,300 days, it didn’t load. And it didn’t load for one simple reason: it doesn’t exist anymore.
It was a strange feeling, but by virtue of planning ahead on my part (and more than a couple of miracles), I was ready for this. I had a new charting platform to use. And, unlike ProphetCharts, which I had sold in January 2005, I owned this one 100%. And, today, I give it to you, free of charge. I present to you: SlopeCharts. (more…)
Last week, my teenaged son asked me a sincere question: “How come Marissa Mayer got $200 million by screwing up Yahoo?”
It was a good question, and one I had trouble answering at first, because I’d like him to think that there’s some level of fairness, meritocracy, and sensibility to this world of ours. In Mayer’s case, however, there is none. Her entire massive fortune is due to being in the right place, at the right time, on multiple occasions. She is no more clever or shrewd than someone who won the mega-jackpot lottery.(more…)