I had been joking for weeks now that Bitcoin seemed to be stuck at precisely $6400. Its volatility has basically gone to zero. Whereas a year ago the entire world was OBSESSED with crypto (and all the scamsters and con artists crawled out………..) now it’s quite evident this technology was simply a solution in search of a problem (……..a problem which apparently doesn’t exist) and the entire “industry”, if one dares use such a term, is collapsing. $BTC has broken support.
Slope of Hope Blog Posts
This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.
Since it’s still Veteran’s Day, let’s examine how Ronald Reagan (back when Republicans actually were Republicans) reacted to a sudden “bang“……having just been shot by an assassin not long before……….
One of my many……many………MANY………short positions is one which I have based my investment on not just a chart but on vitriolic hatred. The company is AIG. The company cranks out all kinds of deceptive and misleading ads about all the fine work they’re doing, but let’s remember what happened in 2008 and with one particular criminal Joe Cassano, shall we?
Cassano is alleged to have been responsible for losses of $500bn (£360bn) dealing in worthless ‘toxic’ debts. The team that he headed took huge bets on complex financial instruments called ‘credit default swaps’ used to insure US mortgages and other debts. When the US housing market fell out, the team realised that they had to come up with half a trillion dollars and all they had was a couple of million. The company received a $132 billion taxpayer bailout.
When he was sacked in March 2008 Cassano received $280 million in cash and an additional $34 million in bonuses. He continued to receive $1 million a month until the end of September 2008, even after AIG had received $85 billion in government support. When asked in October why the company still retained Cassano at his $1 million-a-month rate CEO Martin Sullivan told Congress AIG wanted to “retain the 20-year knowledge that Mr. Cassano had.” (more…)
First of all, gold and silver members should know that an updated post about the coolest and most amazing chart I’ve ever done in my life is awaiting you; by now, you should have received an email bringing that to your attention.
A few weeks ago, in the aftermath of the revelation that Saudi Arabia likes to chop up bodies of journalists who threaten their regime, the “experts” were breathless with price projections.
Greetings from Los Banos (“the bathrooms“) California, where I think nasty thoughts about Southwest Airlines. This is hardly how I like to execute my trading day. In any case, I’ve been strident for many, many moons about how AAPL needs to break for a real bear market to begin. Well this is a pleasure to see:
I’m traveling now (you can guess why), and as often happens during these trips, I encountered a bit of a nuisance that merits a post. Frankly, after yesterday’s post, I’m sort of out of big ideas, so why not an anecdote!
For decades now, I’ve had a book on my shelf called The Psychology of Everyday Things. (they renamed it the Design of Everyday Things to makes its content more obvious, but frankly, I prefer the original title, particularly since it makes the lyrical acronym of POET). The book describes at length good and bad design in everyday objects, such as doorknobs, signs, switches, and so forth. It’s a light, fascinating read which tunes you in to the surrounding world better.
I was reminded of it soon after I got our rental car here. I got a minivan, not because of its sex appeal, but because we have a lot of humans and gear to deal with. It was an extremely new 2019 Dodge Caravan. In fact, it had 3 miles on it, so I was its first occupant. I figured it would have all kinds of new, spiffy features. But I wasn’t after anything new or spiffy. I just needed to plug my phone in for a charge, since it was just about dead and I needed to navigate. (more…)
This post has nothing to do with the markets. Nothing to do with SlopeCharts. It doesn’t even have to do with me prodding you into subscribing to a premium service.
Instead, it has to do with one of the greatest lies of the 20th century, which is as follows: