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I think it’s worth noting the broad cycles that Morgan Stanley has had over many years. Below I’ve shown (with a bit of help from Mr. Roper) what the moving averages have illustrated about Morgan’s moves over the decades. To my eyes, it seems to have peaked, as it has twice before.

Unrelated to this, but just a spiffy example of technical analysis, is Dover, which “dove” about 17% Wednesday. Notice how it tagged its supporting trendline absolutely perfectly. Just sayin’.