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Strebler's Perspective

July, 2016 Archives

Trend vs. Value

by Jon S. Strebler

 

Markets exist because at any given time at least one person believes a particular item is a good buy at a certain price, while another person thinks it is a good sale at that same price. Obviously, they can't both be right, at least if they're both looking at the same time frame. Somebody's going to be a winner and the other guy a loser on the trade.

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Beating a Dead Horse?

By Jon S. Strebler

 

We see two big problems with the US stock market and its new all-time highs, which otherwise suggest a rip-roaring bull market that should be bought. They’re both related to the Dow Theory, obviously of great import to this eponymous newsletter. The glaring, most obvious issue is that despite a series of higher highs (a.k.a. “all clears!”) by the Dow Jones Industrial Average lately, the Transportation Average is far from matching the Industrials’ enthusiasm. So here we are again, Industrials making all kinds of new highs.

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Every Picture Tells a Story

by Jon S. Strebler

 

The title of a great classic rock song from Rod Stewart, there’s more than a little truth to this old saying. It’s also the theme of today’s column, which is much shorter on verbiage than last week’s lengthy piece, in order to keep balance in the universe. So let’s see what stories the chart pictures tell.

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Something's Gotta Give

by Jon S. Strebler

 

Early in a summer that is almost certain to be among the most interesting in recent memory, we see markets performing in extraordinary ways. Collapsing in shock at the UK’s Brexit vote, US stock indexes turned on a dime and were back to where they started as of Friday, once again within striking distance of all-time highs. 

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