Out With the Old… (DIA,XRT,PIR,FIT,SLV,XBI,XLE,GS,UIS,SIRI,RSX,QQQ)

Out With the Old… (DIA,XRT,PIR,FIT,SLV,XBI,XLE,GS,UIS,SIRI,RSX,QQQ)   The local authorities in my city have just notified me that my newborn son’s name is  not acceptable to them, and that I’m going to have to change it.   If ever there were a case of government overreach, this is it.   They’ve informed me that in order to keep the moniker that I’ve longed to give him, I’ll have to go to the courthouse on my own time and at my own expense to have the child’s name officially registered before a judge.   If, of course, the judge agrees. In this day and I age, there’s no shortage of asininity in the world.  I can be a Satanist.  I can have a sex reassignment.  I can purchase and cohabit with a robot.  But I can’t call my kid what I want to call him?!   What the hell is going on!?   People call their kids all sorts of crazy, dimwitted names, like Sourberry or Gauzeleak, while my wife and I sit puzzled at what could possibly be so wrong with the sweet sound of ‘Dander’.   That’s right, Dander.   My wife’s great uncle from Denmark, who passed away nearly…

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“The Kids Are All Right” (XBI,HYG,DIA,PRI,PFE)

“The Kids Are All Right” (XBI,HYG,DIA,PRI,PFE)   It’s the end of the year, friends, time for stock taking, and boy-oh-boy have we got a surprising summing-up on offer.   Consider first that 2017 has been a year unlike any other in this generation in terms of natural disasters, politics, intrigue and war, never mind the markets.   Globally, we’ve never seen such equity success.  Have a look – Global equity markets have done the impossible, rising 13 months straight, in an unprecedented, non-stop ballistic climb toward the succubus nebula.   The What!?   That’s right.  From the media to the Oval Office to the New York Stock Exchange, it’s abundantly clear that we’re living through unprecedented times, and there’s very likely more to come in the year ahead.   Consider – nothing has been resolved in North Korea, nothing with Syria and the Middle East.  And financially, in all our thirty years investing experience we’ve yet to see a market levitate in the manner it has over the last several months – without the slightest pause to refresh.   Something Has to Give   It’s hard to figure which peg, if any, will fail first.  Or if something unseen will…

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What are ya? Some Kinda Martian from Pluto!? (GDX,GLD,XBI)

What are ya? Some Kinda Martian from Pluto!? (GDX,GLD,XBI)   We get a good bit of hate mail.  Some of it derides our penchant for options trades, a realm of investing that many believe too fraught with danger to enter.  Others believe that options trading is only for the ultra-wealthy, as margin requirements make a good number of our trades prohibitively expensive to launch.   And we admit it’s sometimes the case.   But the hate mail that’s most venomous generally revolves around the ‘market top’ theme that we regularly write and recommend toward. Beyond our understanding that this greatest of all bull markets is now in the process of making a final blow-off top, the heights of which no one will accurately estimate, there’s also the issue of the social, economic and political fallout that ensues from such a topping process – and the fundamental change in lifestyle that surviving that process will entail.   Lifestyle Change?  No big deal…   No, we’re not talking about a little less or more meat in your diet, or going minimalist in the apartment instead of forging a “San Diego Dry” look.   Fundamental means fundamental.   And that means almost nothing…

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Rolling Her Over, Again and Again (XBI)

Rolling Her Over, Again and Again (XBI)   Our third wife, Anklysor, hailed from the South Sea paradise of Tonga.  She was a sweet soul, educated at the Nauru Military Academy and possessed of all the charm and dignity that such an institution can confer.   She was talented in other respects, too, but we can’t say that formal logic was one of them.  Sure, she spoke English like a trucker and could sing like old Kate Smith, but moving from point A to point B in more or less a straight line was a daily challenge for my little Ankle.   We’ll leave aside for now her penchant for gardening and the fact that she was third in line for the throne of the ancient Tupou monarchy, though there’s much there to be discussed another time.   For now, we’ll focus on the rationality issue. Oh, my, little queen…   The point is this – there’s a certain mode of operation that exists on Wall Street that has absolutely no validity whatsoever from an investment perspective, but it has obtained for so long that no one really questions it anymore.   It’s called ‘sector rotation’, and it’s a term…

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Crude Drug Dealing (XBI,XLE)

Crude Drug Dealing (XBI,XLE) Hang on tight as we whiz you through a mélange of charts, numbers and full color pictures of our beloved Auntie Mae when she was just a coy little rutabaga.   But first a word of introduction.   The latest geopolitical tension has given a lot of folks the shakes.  Nuclear tests on the Korean Peninsula, armadas of US military ships trailed by Russian and Chinese watercraft, Russian warships tailed by British frigates, mothers exploding in Afghanistan, airstrikes and sarin gas in Syria, French elections, upcoming British elections and all the ongoing hullaballoo in the Middle East’s Gulf States, have both put the world on edge and… had a genuinely salutary effect on the price of oil.   Crude traders can always find solace when the sabres start to rattle. Terrifying.   Oil likes a good war.  Especially when it could embroil Saudi Arabia, Iraq, Iran and who knows else, and lift the price of crude out of a multi-year slump.   Here’s a chart of the United States Oil Fund (NYSE:USO), a proxy for NYMEX Crude, since its last highs, posted three years back. At first blush, the picture looks exceedingly negative.  A decline of…

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