This weekend I’ve got a very special treat for you Slopers. A good friend and colleague of mine Scott ‘the Convict’ Phillips is making a rare appearance over on Evil Speculator. Truth be told he has graciously agreed to cover for me for one week while I am fleeing the rambunctious madness of the Las Fallas festivities down here in beautiful Valencia, Spain. And not only that – it gets better. He has decided to start from scratch and teach all of you step by step how to get your game to the next level. (more…)
Note from Tim: My long-time colleague “molecool” did a post on his Evil Speculator blog that I thought was outstanding. Although I am somewhat called on the carpet (and rightly so), his post is written with class and plenty of wisdom. I appreciate mole posting it here………
Yesterday Tim Knight wrote a candid post marking the fifth anniversary of the ongoing bull market. Actually to be more precise he not so surprisingly called it ‘this insane, interminable, agonizing bull market‘. Now given my reputation for dishing out generous servings of tough love you may expect me to post a scathing retort criticizing him for clinging to his bearish stance all through what I believe will be remembered as the most significant bull market in our lifetime. Well, yes and no. (more…)
Another day, another lifetime high across the board on almost every index that exists. I’m reminded of page 191 in MIchael Lewis’ The Big Short, in which MIchael Burry (who was massively short credit default swaps that, inexpliciably, refused to decline in value as they “should” have) was recounted as doing the following:
I don’t shout out obscenities, but I have been exercising my middle finger, aimed squarely at my screens, quite frequently for the past month.
As readers who’ve been with me for a while are well aware; I’ve made no bones about my feelings of many of today’s Wall Street darlings such as Facebook®, Twitter®, and so forth.
Although I criticize them, it doesn’t mean, nor should it be misconstrued that I’m belittling their original products or services. I believe now as I did when introduced the ability to connect or rapidly deploy information is groundbreaking. How these companies are suddenly worth Billions if not tens of Billions of dollars, while hardly generating any revenue let alone profit – is quite another. (more…)
Friend of the blog Ivan Krastins was slumming again it in our comment section lately, and although sometimes cryptic in nature we always appreciate his contributions. As you may recall our CrazyIvan strategy was named in homage of the candle pattern systems he developed over the past decades. Now Ivan’s general sentiment on the Monday’s shake out was simple and straight forward as usual: ‘Fade the paper‘. (more…)
Of course the MSM is all up in arms about ‘evil’ Russia deploying troops in Crimea (it’s in Southern Ukraine – a peninsula of Ukraine located on the northern coast of the Black Sea). And the usual suspects are spinning at max hype velocity fully expecting all this to trigger WW3. I guess I better start stacking up on beans and bullets. Oh wait – my arsenal is all packed in long term storage over in Los Angeles – bugger!
A funny thing happened to the financial markets since the new year. Suddenly, a great many unicorns are pulling up lame, and what about the rainbows they were paraded across you might ask? Well, they seem to have been painted with watercolors, for the reign of reality has shown they were far from anything naturally weatherproof. Let alone permanent. (more…)