Every now and then, some company will produce a commercial that’s designed to stir up nostalgia and humor among the masses: typically, the commercial will be pushing cars, or soft drinks, or some other consumer item, and it will show cliched scenes from decades past. For each crowd shot of each decade, everyone – and I mean everyone – will confirm rigidly to whatever stereotype exists for that decade. So the 60s crowd will all be hippies and flower-power, the 70s will have everyone disco dancing, the 80s will have everyone playing Rubiks Cubes and Pac Man, the 90s will have everyone dressed for a grunge concert…….. (more…)
The year 2014 has been very good to gold, but I think it may be getting ready to soften; we’re heading for a trio of reasons: (1) the Fibonacci retracement; (2) that descending trendline; (3) matching the most recent important high in late October 2013.
I’ve mentioned here and there what a nightmare – - I’m talking Kafka-esque, living hell, nightmare – - it has been to deal with the broken, malfunctioning, poorly-planned, and poorly-executed labyrinth known as Covered California and Healthnet. Insurance companies are good at TWO THINGS: (1) collecting premiums (2) saying no to making payments. It’s an amazing business, and it’s no surprise these stocks do nothing but go up. What a scam. (more…)
Stage Stores is having a very strong day – up about 15% right now – but I think it’s pushing itself into a terrific short setup. If we can take that blue trendline I’ve drawn below, I believe this is a very attractive risk/reward ratio, given the breaks we’ve seen over the long-term:
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.
Strong support in the 1870 area was established on ES yesterday, and added to that as support this morning are the hourly lower band at 1871 and the hourly 50 MA at 1872. Resistance at 1877.5 has been strong overnight. I’m leaning bullish today and expect that 1877.50 ES resistance will most likely be broken. (more…)