Search Results for: palo alto

FedEx Follies

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Before I begin, please note comments search is up and running.

Anyway, I’d like to tell you a personal anecdote that illustrates how brainless some corporate folks can be. My wife was in the process of setting up another office for her business, so she ordered some items of furniture. She accidentally entered one digit of the address wrong, but she quickly corrected her error, and that correction was transmitted to the seller who, in turn, told the shipper (FedEx) to correct the address label.

We kept expecting the furniture to show up, but we kept getting reporters that the delivery attempt failed. Last week, on Friday, we decided to basically park ourselves in front of her office, like cops on a stakeout, and wait for the FedEx truck to show, which it tended to do at about 9:30 in the morning. We waited a long while, but it never showed, and ten minutes after we left, they sent us another Could Not Deliver notice.

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The Scales of Justice

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The insane ping-pong of this market continues on, and it’s getting really tiresome. The reason for this morning’s strength? Liz Truss this. British Gilt that. Apparently the Charles Dickens economy has taken complete hold of all global markets, and the making-it-up-as-we-go-along government in the UK keeps toggling whether markets are roaring higher or plunging lower.

Because of all this recent volatility, it really screws up intraday charts. If you look at this minute bar chart, the insane action on Friday makes this morning look like a pancake.

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Pains Thus Far Unfelt

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You have almost certainly moved before, like from one house to another. If your experience is anything like mine, what happens is that you start with the big stuff, such as beds, cabinets, the dining room table, the chairs, and so forth. Only a few hours into the move, you look around and figure that you’ve made so much progress so fast, that this thing will be over in no time!

But as the moving progresses, things begin to slow down exponentially. You pack clothes into boxes. You start to clear out the garage. And then, God help you, you start to go through all the bathroom and kitchen drawers. The things you’re packing getting smaller and more multitudinous. Plus, whereas early in the process you neatly and carefully labeled each box with tremendous detail, by the 50th box you’ll just writing “STUFF” on the side with a thick black Sharpie. The point is that what seemed like it would be done swiftly is actually taking forever, because the clearing-away of things takes longer and longer, so much so that you eventually figure, screw it, I can just leave some of this junk behind.

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The Latest Lovely Lines

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Good morning, everyone, from pitch-black Palo Alto. It’s been quite the week, and I’ve got to say two adjacent things right at the top: (a) the market has been amazingly chart-friendly (b) shame on me for missing some of that chart-friendliness in real time. (Although I’ll add (c) NOT shame on me for actually anticipating some of this stuff in advance, even though I myself ignored it!)

Look at what’s going on with the /ES futures. Tuesday, of course, was our amazing CPI tumble. Wednesday and the first portion of Thursday were the “grinding away” period, clinging tightly to the trendline. Yesterday (and here’s the part I’m upset with myself about) the market fell hard, went roaring higher, and did a PERFECT touch of the aforementioned “clinging” trendline (blue arrow) at which time it did a miniature version of the Tuesday plunge. Since then, we’ve been leaking lower.

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