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I am a big fan of the Diamond pattern (whose description is here and which has examples stacked from Slopers here). I wanted to point out that, on the 4-hour chart for the Russell futures (/RTY) there is a quite clean one:
A break in either direction would, I believe, be quite significant. We’re close!
Following Trump’s election win, I read two books to better understand him and his behavior: Games of Strategy: Theory and Application and The Art of the Deal. The game theory book was intended to understand how Trump thinks. However, he is extremely volatile and that makes it difficult to predict his behavior thus it was difficult to apply theories to his decision making. The Art of the Deal, however, was much more insightful. In an old email I characterized him as:
“He (Trump) is a winner. Looking strong is important. He’s also incredibly sneaky and untrustworthy (whatever it takes to win…)…In other words Trump uses last minute tactics to: A) strengthen his position and B) ensure his position is not weakened…As an options trader he’s a wing buyer that bullies the market to make his position in the money.”
(more…)Preface from Tim: I am usually very hesitant to do any posts like this. The last time I did one even remotely close, one reader wrote to grumble about how this is not why he comes to the site. OK, fine. Skip the post. But TNRevolution has been such an important Sloper, and his contributions so generous, I’m going to bend the rules. I appreciate his hard work here, and his openness.
Why do I care? Why do I care about the state of race relations in black America? I am white. For one, I am a human being. To be a healthy human being is to have a measure of empathy. I am no different. When I see people hurting, my initial instinct is to help. Whether it is tornadoes ripping through Nashville, Covid-19, or black Americans being abused, I want to be a part of the solution. Second, it’s personal.
I grew up in rural America, in the suburban country north of Nashville, TN. In the school I grew up in there was only one black kid. I only remember him ever being in one of my classes. Everyone I knew in my world was white. That changed rapidly as I left home to attend college. Students from around the world attend Georgia Tech, and living in downtown Atlanta was a dramatic counter to my all-white childhood. I loved it. As college passed, I met and made friends with people from all over the world. However, I didn’t have any black friends. Why was that?
(more…)I wanted to remind you SlopeCharts users of an important feature that I think is easily overlooked. First, I wanted to share a clever tweet from that Knight boy, which I thought was worth highlighting.
Almost half of the global gold reserves are controlled by just 10 countries and institutions, according to a new study. The study reveals that the U.S. is far ahead of other countries in terms of gold reserves, even well above countries like Russia, whose central bank has been a buyer of gold for quite some time.
Buy Shares reports 49.37% of global gold reserves are held by nine countries and the International Monetary Fund. Total global gold reserves amount to about 1.85 billion ounces, and the top 10 countries and institutions are holding about 913.29 million ounces.
The U.S. is in first place with 286.87 million ounces, amounting to 15.5% of global gold reserves. Germany is in second place with 188.63 million ounces of the yellow metal, or 6.4% of the total supply.
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