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Happy Friday, everyone. Greetings from the Starbucks on the Google campus, where I’ve spent so many days and nights writing about the market while charging up the ol’ car. While I am usually quite prolific, my writing output cranked way down the past couple of days (and, hey, what’s with Springheel Jack? He used to be like clockwork, and now it’s like a post or two a week?) Anyway, I intend to resume my accustomed output.
As a comment cleaner, though, I’ll share a brief thought or two with respect to Elliott Wave. Many people – – the vast majority, it seems – – scoff at this realm as a ridiculous pseudo-science, akin to astrology, tarot card reading, or using planetary cycles. They could be absolutely right. But I haven’t utterly dismissed it.
Over three years ago, October 24, 2014, I wrote a post called Pandora’s Box in which I stated, in part, “with all the effort Apple was putting into Internet radio, Pandora might not be in a great spot.” Yeah, “not a great spot” is an understatement, showing it’s not a great idea to ever try to go against Apple in any business. The stock is down about 85% and is at this very grinding at never-before-seen lows. I’ve marked with an arrow the date of the Slope post.