Bracketing All-Time Highs

I touched on this morning’s topic on the UrbanSurvival site Tuesday. Where will the high for this market hit?

This morning the details.  You see, it raises very interesting technical questions:  Do Elliott Wave principles apply to Aggregated Market data, for example?

And in our Focus section: A comparison of the 1929 stock bubble run-up and Bitcoins performance.  It’s just what we forecast in June. Tulips for breakfast is here.

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Comments

Bracketing All-Time Highs — 12 Comments

  1. Instead of comparing today’s markets with the 1929 market, why not use the markets since black Monday 10/19/87. They would compare better to today’s markets since that was the beginning of the tech world & a seemingly unending money supply.

  2. A thought to consider… While I agree with the premise that economically we’re likely approaching a 1929 economic reflection, is it possible that we’re also simultaneously approaching a 1939 or 1940 social rhyme as well?

    I was watching a movie the other night that was set in 1939-40 timeframe. There were so many similarities to today’s social structures that I started to wonder how I’d missed that point earlier. From being on the edge of war (today it’s NK, Syria, et. al.) to society becoming somewhat used to Depression-level economics (a few areas still in the crunch from 2008), as well as various other things that point to manic attempts to squeeze a bit more $$ from existing things, but no really new technology at the consumer level. Societal norms will impact economic norms (and the reverse) so maybe there is a second rhyme to watch in order to time this pending watershed event. But then again I could simply be imagining things.

    I’d like to take a closer look now, but thought I’d float that idea to see if it’s worth looking into deeper. Any thoughts?

    • I thought it was kind of a ‘grandfather effect’ where when the people in a ‘cohort’ of an age die off there is a ‘rhyming’ or perhaps ‘failure of memory’ of what happened during their lives, and things can repeat, often regretfully . . .

  3. I wasn’t thinking of accessing the “little John”, though that’s a consideration on long flights, especially when your only copilot is a carefully tuned trim tab.

    I was more concerned about straightening the legs and allowing proper circulation so that there is less/no venous pooling in the lower limbs. That’s the other real problem of being in a constant sitting position.

    • Look at the cabin size on the older Beeches – you can really stretch out all over the place.
      A Long EZ, a Mooney? Not so much, lol

  4. No it is not possible…what would you expect the head of one of the biggest banks in US to say about Bitcoin?! This blockchain tech is the greatest threat to modern banking the world has ever seen. No longer is it nessacary for a small size business (100 peeps or less) to go to bank for “Factoring” credit to make ends meet selling their invoices, while being bent over by wicked fees being jammed up their proverbial arses.Now with the blockchain tech the entire population of earth can bid on those invoices.. one small example of the massive change headed straight for your business,money and bank.Good luck..

    • You need to tell the market, Dan, not me. The MARKETS have priced BTC down 20% from its ATH.

      Tulip for breakfast? Edsels were a good idea, too…

    • If you don’t own the block chain you don’t own anything and will be labeled a criminal as well ……….virtual currency is the job of Governments – have we not learned this yet…..

  5. A couple of thoughts:

    1. Regarding Equifax credit “freeze”: READ the fine print of their free offer. It may, or may not have language foreclosing the option of suing them for their security breach. I’d also do a credit freeze on the other two bureaus if I were worried, since the data is virtually interchangeable and potential creditors generally only use one.

    2. If we’re supposed to get vertical every half hour or so, how do we handle driving(or flying)? In many cases, there’s nowhere to pull over for many miles, and traffic today can make a 1.5 hour commute a regular thing. Obviously, if you’re in the left seat of a small aircraft, there’s little choice – just tough it out. I do think the driving thing is important though – especially for older drivers(over 50).

    • 1. As I tell my doc, if I have to sign any waiver to get something, I WON’T do it unless a matter of life and death. When one has a little money in the bank, a paid off home and cars, and doesn’t want a credit record…well, I want the pit bull lawyers on my team unhindered by poison puppy chow.
      2. With enough coffee, and a large paper chart, even the left seat driver may access the “Little John” while the copilot tries not to laugh and hold the general direction and altitude.

  6. Dear Mr. Ure,

    I don’t doubt your concerns that bitcoin is a pot of fools’ gold. However, the blockchain ingredient appears to be attracting the attention of a lot of smart people. It’s unclear in my mind if blockchain proponents think it can predict the future, or at least allow them a handle at the helm of the casino.

    One hopes that if some entity, private or state, succeeds in creating an interoperable system capable of driving out cash as a form of payment, it is then at least benevolent to the Western mindset and preferred ways forward.

    Thank you for allowing me to vent my two cents worth.

    • You make the assertion it has attracted the attention of a “lot of smart people.”
      Is it not possible, grasshopper, that they only think themselves smart when surrounded by other fools?