Here’s today’s swing-trading watch-list:
Long Walt Disney (DIS)
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It is February 29th today, which is a day first introduced by Julius Caesar in his major calendar reforms in 49 BC. These were a massive improvement on the old Roman calendar where accumulated errors means that the calendar regularly went seasons out of sync, which wreaked havoc with the dating of their seasonal festivals particularly, as it’s a strange thing to be celebrating mid-winter festivals in the summertime and vice-versa for the mid-summer festivals.
It’s also a lesson about how the second mouse can often get the (kudos) cheese. Caesar’s massive reform was superb, but still gained a day every 128 years, which had become obvious by the middle ages. Pope Gregory XIII tweaked the Julian Calendar slightly in 1582, removing three leap years every 400 years, a change of about 0.002% to Caesar’s great reform, and the world then gradually moved from using the Julian Calendar to the almost identical Gregorian Calendar, which is now universally used across the West apart from in some Eastern Orthodox churches, who still use the Julian calendar to calculate the dates of some moveable feasts.
Continuing with what I started yesterday……….
One thing that made me think the bears were totally finished was the explosive move crude oil may early on Friday. However, the rally completely fizzled, and by day’s end oil was in the red and sporting a rather impressive gravestone pattern.
When I saw the photo from this weekend of all the men focusing on Lagarde and totally ignoring Yellen, I figured it was just a random, amusing moment in time:
Well, brace yourselves, everyone. There are FOUR major scheduled events coming up. The first is this weekend, the G20 (which, apparently, is a big fat non-event). The next three are tightly clustered together. It’s going to be a wild – perhaps even nauseating, at times – ride.