It is hot and it is humid over here in Valencia. You want to know how hot? The other day a poodle’s tail caught fire just waiting in the sun. The more frantically he was wiggling his tail the brighter it burned. Fortunately his master was nearby and was sweating so much (overweight Brit) that he was able to put the fire out with his bare hands. True story! Well, maybe not – but that’s definitely how it feels over here. Fortunately the evil lair is equipped with an industrial strength A/C unit which will continuously run on its polar bear setting until late August. If the power goes down I’m dead meat as I have a high tolerance for heat but a very low one for [...]
I know we’re talking summer tape here but the level of inactivity over the past few days has been a bit concerning. Equities continue to hover above a crucial inflection point and it wouldn’t take much downside to launch a wild ass covering session. The more time passes the more this thing is coiling up and accordingly the more violent I expect the resolving phase.
My ES campaign remains almost unchanged as it’s currently scraping a very modest 0.4R. It’s Friday and I’m not too excited about holding a position over the weekend, especially given all the craziness we’ve been bombarded with in the U.S. as well as over here in Europe the [...]
Is it a bird? No! Is it a plane? No! What is it? It’s a bear being shot out of a canon! And I’m not even exaggerating as this rally may be nearing its first leg but is long from being over. The bears basically had been handed eighteen months to take this market to the woodshed and failed miserably. Every. Single. Time. The price to be paid is going to be enormous because a failure of this magnitude should come with an appropriate punishment.
When looking for a good theme for this post I pondered for a while and then decided to use a picture of a bristlecone pine, which are widely considered to be the oldest living trees in the world. You can find them near the Nevada/California border and if you wind up traveling in the area then I strongly recommend that head over to Bishop and from there head up high up into the White Mountains.