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The market is, generally speaking, near lifetime highs, but just as some animals are more equal than others, so too are some indexes at lifetime highs more than others. We’ll go from strength to weakness, starting with the Major Market Index, which is muscling its way to new records daily:
A friend of mine shared this brief tale written by Andy Weir, which I think is brilliant. I believe there is tremendous truth here, and it aligns very closely to what I currently accept as reality. Enjoy!
You were on your way home when you died.
It was a car accident. Nothing particularly remarkable, but fatal nonetheless. You left behind a wife and two children. It was a painless death. The EMTs tried their best to save you, but to no avail. Your body was so utterly shattered you were better off, trust me.
(more…)Tyson Foods evidently makes “chicken” products (God knows how…….) into the “nuggets” and other grotesque crap that morbidly obese people buy at WalMart to cram into their mouths when they get home (if they can wait that long). But that’s not the reason I’m shorting it. This is.
It’s ironic that one of my very best picks of the year has been a long position, of all things. Anyway, Qudian, which I’ve been yammering on about endlessly, has finally completed its basing pattern. Off we go!
Welcome to the final five days of the first half of 2019. It’s a pretty quiet morning, in spite of the looming G20 meeting and the all-too-important China/US trade talks re-ignition. I was pleased to see that, following this G20, there isn’t one until late November 2020 (interestingly, after our own elections). These meetings are annoyingly loaded with suspense and excitement which really never amounts to anything.
Looking at the /ES over the past few days, we haven’t been trending strongly in either direction. On the contrary, we are sputtering toward the apex of a small triangle pattern, as the market is desperately seeking some new reason to make a move. As it is now, we remain more or less at 2950.
(more…)I did a post suggesting Bitcoin as a buy when it was about $3800. A few weeks ago, I suggested the price may have peaked due to it hitting a Fibonacci retracement. Well, the “animal spirits” unleashed the past month have been felt most strongly with crypto, and it blew right past it……..to the NEXT Fibonacci level! So I’d like to suggest, once again, maybe we’re peaking. I wouldn’t dare short it, but I think we won’t get past $11,500 or so.
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