Archive for the ‘Investing’ Category

Down Goes Kudlow!

Thursday, March 20th, 2014

Larry Kudlow’s CNBC show is no more. The official story is that he is retiring, however that sounds like BS to me. On Monday (or was it Tuesday?) Kudlow said: “But I still have a pen” which is an expression of defiance, and puts the lie to the retirement story.

I reckon that the demand for Koch Brothers talking-points, neoliberalism, and non-stop warmongering isn’t what it used to be.

Nobody, other than myself, watched Kudlow’s show, but it is not a small thing that this beacon of globalism has been extinguished. First, the people struck down the attempted war on Syria. Then they struck down Larry Summers as Fed Chairman. And now they have given Kudlow the cold shoulder, voting with their eyeballs against neoliberalism.

We will have to see what CNBC puts in Kudlow’s slot, but this looks like another stinging defeat for the Oligarchy.

To see Kudlow at his most-evil, see my post: “Larry Kudlow is Pure Evil – Part 2.”

Here my other posts about Kudlow (from newest to oldest):

CNBC Rebellion
Larry Kudlow Lies About Immigration
Larry Kudlow, Gas Bag
Bizarro Kudlow Cheers Workers
Larry Kudlow is a Declinist
Where Are Those Jobs Mr. Kudlow?
Larry Kudlow, Patriotic Globican
Kudlow Goes Berserk
Larry Kudlow, Chinese Patriot
Larry Kudlow is Pure Evil
Larry “Global Job Creation” Kudlow
Kudlow, Idiot – IBM, Evil
Larry Kudlow is an Idiot #2
Larry Kudlow is an Idiot
Kudlow Congratulates Citi After Catastrophe
Kudlow: “Hurrah for Recession!”

NASDAQ-100 Megaphone Pattern

Saturday, February 15th, 2014

Below is a daily chart of the NDX showing a megaphone pattern (click to enlarge):

NDX-Megaphone-Feb-2014

This pattern is sometimes called a “reverse symmetrical triangle” or a “broadening top” and is usually bearish. Here is a megaphone chart that I posted back in 2009:

ES Broadening Pattern

Two days later, the S&P 500 rolled over and dropped 63 points. But the correction only lasted six days, and the bull market resumed. So in that case, the megaphone was a signal to go to cash and get ready to buy the dip.

No pattern is perfectly reliable, and it’s not impossible for the market to shake off a megaphone. Perhaps Janet Yellen’s melodic voice has soothed the market beast. We will know very soon.

Long Line at the Car Wash

Saturday, January 5th, 2013

After the recession began in 2008, I no longer had to wait in line at the car wash. That was odd because I live in an upscale neighborhood, and the most-expensive service at my car wash is $10. I couldn’t believe that my neighbors couldn’t afford to wash their cars anymore. Maybe they could afford it, but could not afford to come down to their condos here in Miami Beach. Maybe the “snow bird” population had been thinned. Maybe they had to stay up north with their noses to the grindstone year-round.

Whatever the reason, the car wash is busy again. On Thursday, I had to wait in line for over an hour. Maybe the economy is reaching escape velocity – at least among the population that can afford cars.

High Frequency Talking

Tuesday, May 22nd, 2012

Want to hear two rocket-scientist programmers discuss high-frequency trading? If so, then check out techzing podcast #185 where Jason Roberts interviews James Thomas of Headlands Technologies.

There are a few brief mentions of arcane topics such as functional programming and the “R” language, but the discussion is accessible to civilians. Too bad Thomas is under non-disclosure and couldn’t tell what he knows about MF Global.

The podcast is 80 minutes long, but you can download it onto your iPod via iTunes. Just search for techzing in the iTunes store.

Dow Rectangle Pattern Targets 12735

Sunday, April 8th, 2012

During the past few weeks, the Dow has been trading in a rectangular range about 300 points high. On the hourly chart below, I have outlined the range with red lines. (Click chart to enlarge):

The futures have already broken out of that range, and stocks will certainly follow on Monday. To find the downside target, we subtract the height of the rectangle from the lower bound of the range. And that brings us to the March 6th low of 12735.

The last time that the market plunged after “not creating enough jobs” was on September 2, 2011. The next day, I criticized the panicky selling in “Companies Add Jobs for 18th Straight Month – Investors Jump Out Windows“. And while I was right that the expansion/bull market wasn’t over, the market did languish for a few weeks. On this chart, the red arrows point to that seemingly “bad” jobs report:

Of course, there’s no guarantee that the bulls will get off easy again this time, with only one month of chastisement. However, another important event occurred last September: Mitt Romney said that, if elected, he would not re-appoint Ben Bernanke. And so, while Doug Kass says “the liquidity rally is over”, a certain Mr. Bernanke may have other ideas on the subject.