I’ve become absolutely enamored of Gilbert Gottfried’s Amazing Colossal Podcast, and this morning I heard what must be the best episode EVER: the one with Peter Marshall (real name: Pete LaCock), the famed host of Hollywood Squares. It is an absolute riot:
Slope of Hope Blog Posts
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We’ll see how Congress grapples with those issues, and others, when they grill Facebook CEO Mark Zuckerberg when he testifies before them this Tuesday and Wednesday.
Facebook faces similar scrutiny by other countries over the coming weeks, so their issues are global and not likely to be resolved overnight.
You can see, at a glance (monthly charts below of FOXA, CMCSA and TWX), which media giants are leading or lagging each other overall…they are all at or below their respective major resistance levels.
The only one whose momentum indicator is above zero on this long-term timeframe is FOXA…if it plunges and falls below zero, no doubt the others will weaken further.
On the flip side, if FOXA breaks and holds above its prior swing high of 39.27, the others may gather strength, as well. (more…)
I want to begin this post by again noting publicly that feel like I clowned myself yesterday in my own trading and in my lack of attention to the market at a critical point (couldn’t really be helped, but it’s the results that matter). Despite a market doing generally as expected, I was not really prepared. My macro views often prove right on while my own execution can shall we say, vary. It’s why I tell NFTRH subscribers or anyone considering the service it is best to follow the analysis, not what some faulty trader is doing at any given time.
The reason for the paragraph above is balance for the paragraphs below, in which we drive home once again the folly of listening to experts (at least the experts the media shove in your face at ill-timed junctures). I had a subscriber leave NFTRH in mid-2016 (he’s back and we’ve had a friendly review of that situation) in part because I was doggedly bearish gold and bullish the Semiconductors, which was exactly opposite to the stance of a technology expert, whose service he also subscribed to. It made me sad (for both of us) to have stuck to my convictions, but lost a subscriber while turning out to be right in my view. (more…)
The following monthly chart of FB shows that price has plunged to near-term support defined by its longer-term uptrend channel median and 23.6% Fibonacci retracement level (166.22).
The reversal from its all-time high made last month has been accompanied by accelerating (to the downside) Momentum (peaked in October 2017) and Rate-of-change (peaked in September 2017) technical indicators which, in fact, reversed well ahead of price.
Neither of these two indicators have broken below their respective zero levels since the early months following FB’s IPO. A drop to, and hold below, zero on this monthly timeframe on these indicators could spell serious trouble for FB in the longer term. In this regard, watch for any drop in price to, and hold below, its next support level around 148.00 (channel bottom plus 40% Fib retracement level). (more…)