Search Results for: palo alto

Iced Coffee

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I remember it like it was yesterday. It was late in 1992, and the partner in my startup, Prophet Financial Systems, told me excitedly that Palo Alto finally had a “real” coffee shop called Starbucks. I had never heard of it before, but he said it was absolutely incredible and that I should try it.

Well, every other storefront in Palo Alto is a coffee shop now, and frankly I’d never even consider going into a SBUX to pick from one of their overly-processed, super-sweet, fat-Americans-pandering “drinks” which are basically 700 calorie desserts in a cup. As a chartist, I simply wanted to point out that the company has broken its long-term trendline and, having lost almost half its value, is illustrative of just how weak the market is now.

Pre-Dawn Cleaner

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Hello, everyone, from the delicious dark and quiet suburban paradise of Palo Alto. True to form, the nation’s pundits and basement traders are loudly touting how the market is going STRAIGHT UP from these levels. Indeed, even on the likes of ZeroHedge are featuring prominent articles about……..

  • the market is really, really, really oversold;
  • the corporate swine will start buying literally billions of dollars of their own stock, every single weekday, with hundreds and hundreds of billions already approved by corporate boards;
  • “everyone is bearish” (AKA more than 1% of the public)
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Final Morning

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Hello from Durham, as I prepare to – gasp – head back to my beloved Palo Alto this evening. I pray to the gods above this not mean what I think it must mean. All the same, here’s where my head is at:

  • I have heard from multiple parties, both via email and Twitter, to get out. Take profits. Don’t swing for the fences. Go to all cash.
  • I have gone through my dozens of positions. Every single chart is gorgeous. Every single chart has cracked crucial support levels. These are going to get wrecked. I’m not closing dick.
  • I do this in the face of the terrifyingly-powerful Tim Is Traveling wizardry, and at great peril.
  • Beyond all this, I urge you to keep in mind that in just a few trading days, the Fed is going to drop the hammer, and it could be a sea-change in the market (until later this year, of course, when Powell wimps out yet again and starts desperately hurling trillions at the market).
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A Seller’s Market

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I’d like to share an anecdote from my personal life which is quite relevant to the world of finance, inflation, and economics. Specifically, I am endeavoring to purchase a house in Durham, North Carolina. I don’t intend to live there (well, hardly ever). It’s an investment property.

Before I dive into my experience, I present to you a trio of charts that SlopeCharts was kind enough to provide. First is the price index in Durham since the late 1970s, which is up hundreds of percent.

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