As though he needs it.
The following perfectly simple explanation of how to read a chart, perfectly illustrates his value.
Question -- Are charts really of any use?
Answer -- You might as well ask the question, "Are maps of any use?" And the answer is "Yes, both charts and maps are useful with one caveat, you must know how to read them."
Let's take a current example. Below I show a daily chart of the Dow going back three months. The first thing I see is that long blue ascending trendline. It continues higher until it hits what I call a consolidation box. The box is defined by a horizontal line at its top and another one at its bottom. So far, the Dow is "caught" in the middle of the box; it hasn't broken out to the upside or the downside.
Then I see the red arrow at RSI. The arrow points to RSI heading down. Next I see another red arrow at MACD at the bottom of the chart. Here we see MACD rolling subtly over. In both cases, RSI and MACD appear to be ready to sink lower. This suggests that the Dow will break out below the box.
If the Dow does break below the box, where is it likely to stop? The first support appears to come in at around 10800 on the chart. That is where the last decline halted when it touched the rising trendline. Often, moving averages will provide mysterious support and resistance levels during advances and declines. Today, the 50-day moving average for the Dow comes in at 10671. This should represent a resistance level on the downside. Below that we have the 200-day MA, which comes in at 10523.
And that's the valuable information this single daily chart of the Dow provides us with. So are charts useful? Do they serve any real purpose? I'm convinced that they do. But like an explorer with a map, you have to know how to use charts.
Piece of cake.
I've been looking around for a nice live vid of Nona Hendryx and Material performing "Bustin Out".
And while I found a pretty good one, I keep coming back to this.
This is Patti Labelle, Nona Hendryx and Sarah Dash fronting a band I can't see well enough to identify, performing live on Burt Sugarman's Midnight Special.
Lady Gaga my ass.
We have been called into question over our cynical nature with regards to our choices of quotes about politics.
It's true, we're copping to it.
Our only defense here is that after an honest twenty page search of Thinkexist.com and Brainyquote.com seriously looking for any positive thought about politics or politicians, we could only come up with three of four total.
We mixed them in here indiscriminately.
We bolded them in an effort to help you avoid our despair.
Politics, as a practice, whatever its professions, has always been the systematic organization of hatreds. Henry Brooks Adams
The interactive breaks down the country by state, and provides both a list of, and totals for the "dropout factories" within each individual state.
It also provides a discussion of the criteria from which the lists were developed.
You absolutely need to do this one, painful though it may be.
The Harry Schultz Newsletter Junior came out today.
Anyway, Mr Schultz references the following quote which has been popping up with accelerating frequency lately and attributes it to Benjamin Franklin.
With all due respect, I don't think this is a Ben Franklin quote, but I can't find evidence one way or the other.
Which of course doesn't change the fact that I believe every last word of the following to be absolute truth.
This goes double for members of Congress, Senators, the entirety of the United Nations, many Mayors and City Council members, political hacks in general, most pundits, and for damn sure every single last scum sucking piece of excrement within the upper management of the world's largest banks (past, present and future).
Just my opinion.