Thursday, February 05, 2009

Chart Patterns

I like look at pretty charts but if Citi and BAc have taught us anything charts are not investing tools. That said are there any chartists out there? Does this not look like a manufactured textbook example of head and shoulders to zero?

14 comments:

1.44MB said...

symmetrical is the new sticky

w said...

It looks like the chart of some paper currency of an empire at it's terminus in decay.

Max said...

TA is worthless when BO policy can "change" things on a dime. Anybody investing in this market (especially financial) is a fool.

Lance Zambezi said...

Measure from the neckline (around $25) to the top (around $55) and that is the size of the decline, ie $25 - $30 = -$5. Gotta use log and candlesticks.

wagga said...

At first I thought he's back, now I'm not so sure.

1.44MB said...

Looks like someone gave flipper a couple of $$ or a wheatgrass for the domain name and now is trying to milk the remains of his online carcass. Casey and his metro designer sensibilities wouldn't put out such a fugly page.

Captain Nemo said...

@1.44MB:

I think flipper himself has parked it. There isn't the profit in parked domains to actively solicit people to sell their domains. I think it is parked with domainspa.com (the nameservers point to parkingspa.com, which is owned by domainspa.com)

Mr. S said...

Rob Dawg - Symmetry is everywhere!

Ashes to Ashes...


-Mr. Sparkle

Lou Minatti said...

Wells Fargo plopped a big one in the toilet as well.

Akubi said...

Sarah Palin still sucks nonetheless.

Lou Minatti said...

I think flipper himself has parked it.

Yes, it's a canned website template that only exists to serve Google ads.

With that said, Stoopid will be back. I think by this summer. (Hi, Casey! I know that you are reading this.)

Lou Minatti said...

Sarah Palin

...was on the scene for just a few months and people on the left are still unhinged and obsess over her. I wonder why. It's like obsessing over Geraldine Ferraro in 1985.

tj and the bear said...

Dawg,

Thanks for the shout out on the earlier thread. Looking forward to future conversations...

p.s.: You've got my email, so you'll have to shoot me yours.

Peripheral Visionary said...

Off topic, but I've been following this market for a while:

Koons, Fontana Works Sell in Smaller London Art Sale (Bloomberg)

The art market has already passed the "back to normal" phase (we've seen that before) and is now entering the "smaller, more affordably priced" phase (we've also seen that before.)

I have to credit the auction houses (who have a lot more control over this market than real estate firms have over their market) with limiting supply and talking sellers down to lower prices. But it won't last. The market is about to get an avalanche of supply from "must sell" sellers. One category is Madoff victims, both individuals and foundations, who must sell anything liquid to generate cash to pay the bills. Combine that with market victims stuck in otherwise illiquid assets (e.g., locked up hedge fund positions) and that's even more supply. But the real tidal wave of supply could be from universities and museums unloading artwork to pay the bills after their endowments have been hammered. I just don't think the auction houses can hold back the flood of artwork for sale for long; and if they limit what they list, the "must sell" items will find other venues to be sold, including private sales or (horrors!) online auctions.

And that's not even taking leveraged speculators into account. I note that in the article above, yet another artist has had his own gallery buy back his own artwork. Just because you're the artist doesn't mean you're not speculating when you buy artwork, particularly at inflated prices and particularly with borrowed money (I'd be amazed if he bought it all cash.) Buying back one's own artwork at inflated prices, presumably to try and keep prices artificially high, is quite the clever manipulation of the market, but it can't last. The market will find the correct price sooner or later (and given the contemporary trash that has become the focal point of the art bubble, the correct price could turn out to be amazingly low), and speculators, even the artists themselves, who bought art with borrowed money will be in a world of hurt.