Market are closed, but we never stop working around here. Menu this morning is a few grisly headlines, shop action, a contributed cardboard miracle begins, and a proud papa note. Oh, plus a side of weather change and “crank the mower” time.
Dancing Dollars, Destiny Dips
Although U.S. markets are closed for the holiday, keep an eye on the POG and the USD. (Price of Gold and U.S. dollar.)
The relationships in things financial are sometimes circuitous. Let’s play “follow the bouncing dollar” a bit and you’ll see how things ripple:
- The Job numbers last week indicated the End of the World had not yet arrvied.
- As a result, the U.S. Dollar purchasing power went up (since America may be around for a while).
- When the Dollar goes up, relative to global competitors, it doesn’t take as many of them to “buy the Dow.”
- As a result, the market comes down some (yeah, like you noticed, right?).
- Between now and tomorrow, follow Gold (which comes down when the power of the Dollar goes up, and visa-versa). Secondary (or confirmatory) is the POO (Price of Oil) and the POG.
This morning in Europe, England, Germany, and France are all scoring better than 1-percent gains. But remember – and this is the tricky part – some of this is the currency moves in the Dollar.
Ahead? Small Business Optimism report is about all for tomorrow morning.
You know, between now and the election (in just 57-days now) virtually nothing will be accomplished in Washington. The real screwing of American taxpayers will come right after the first of the year…
Still going. Soared through 27-million cases and now at 189,000 dead in the U.S. on 6.278 million diagnosed. (Not that we trust the positives number…)
Interestingly – and this is something Bob Prechter over at Elliott Wave International has been talking about for years: Lots of “natural events” seem to go through the same three or five step advances. Here’s how I count the “Eliott of Covid” as of this morning:
This is not to claim this will be in any way predictive. Except that there is an Elliott view that would hint that we’re in a 4 now and that (driven by Labor Day exposures and such) we could have a Wave 5 up. Which, in turn would really be the end of Wave 1 up at the larger degree. Then, in 2021, we would expect an A-B-C corrective down. And – just in case, vaccine or not, expect a variant (larger) for Wave 3 Up in 2021 and into 2022.
Again, not claiming anything, except that Elliott counting does have its place.
Speaking of CV-19…
George II – out on the White River fire up in Oregon – sent me a snap of the nice plaque his department gave him for all his mask-fittings and getting folks trained-up on PPE donning and doffing a few months back.
As we’ve been telling you for months: the key to personal health in times like this is having the mental acuity to separate that this is a medical issue, not a political issue.
HOWEVER: Not everyone gets that as we read how “Trump fixates on the promise of a vaccine – real or not – as key to reelection bid...” Thing is, as I showed you a second ago, Trump may be focusing on the virus just when a Wave 5 up could be set to begin. Takeaway is? Some of us are “seasoned” (risk managers) and others (serial bankruptcy-types), not so much…
Speaking of fires: Pictures and Videos Show California Burning As More Wildfires Break Out Across State. And on White River fire – we’ll see what the “wind event” does if it pipes-up over the next day or two.
Labor Day Notes
Yes, Target and WalMart are open…
Interesting, liquor stores in Texas are open today – in case the news is dri8ving you to…er….NOT WHILE DRIVING!!!
Around the Shop
Frenzy continues – although with a lawnmowing break to warmup this morning in a few minutes…
Got the new mailbox painted (white) and new numbers on that. Just a few more tweaks and it will be installed this morning.
New “machine bench” with rolling tools under (welders, plasma rig) is also past the half-way mark.
Sitting out in the shop, realizing what a pain setting up an extension ladder would be to install overhead shop lights and power, came up with a novel idea:
Going to put in a series of 2-b y-3’s with a 2-by-6 spacer and just hang the lights with what will be (in effect) “sky hooks.” This way, all done from a step ladder, not hassles installing, and – best of all – they can be moved.
Picture a walking cane – now hang the handle over a 2-by-4 overhead and Presto! Sometimes, simple solutions come from just staring at the problem for a while.
Also finishing today? The “pottery stool.”
If that’s not enough, more winter garden seeds go in. Could have a cooling trend this week – may be the last day in the 90’s for the year – we’ll see on that one.
Advanced Shop: Cardboard Magic
One of our reader (KLH) has been writing a bit in the Comments section about all the magic that can be done with some leftover cardboard and a heaping helping of ingenuity. Let me show you how his project is progressing: First you need a box…
Then you resize…
And then you cut and add and add…
And then pretty quick…
He lays it out this way…
“… it starts out with the box.. then the basic idea layout.. I am using a home made paper machet clay out of kitty litter and white glue and soaked and cooked shredded junkmail for the coating.. once I get to that point I will dilute that paper machet clay down to a pancake batter where I will paint the whole outside of the unit with it. then sand it down so that when I go to put a finish on it it will soak in all at once. I did put polyurethane clear coat on the whole thing to stiffen the cardboard.. using the wheels will go on it today.. then I can start to get the whole thing settled around and worry about finishing the case then the counter tops.. which will be two inches thick.. the bar top should be at forty two inches and the counter at thirty five.. standard measurements..”
Totally, awesomely cool! We’ll send along more as his work progresses…
OK, no lollygagging, now…off to mow like a madman before breakfast so I can get to he real work shortly thereafter…
Write when you get rich,