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Strebler's Perspective

September, 2017 Archives

Conflicted

by Jon S. Strebler 

 

The founder of Dow Theory Letters, Richard Russell, often reminded us that the namesake "Dow Theory" had two components. The first and most widely followed by far was the action of the two senior Dow Jones Averages: the Industrials and the Transports. This first component focused on the long-term trend of stock prices as gauged by examining charts of those two Averages, a trend which was categorized as either bullish or bearish.   

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Still Time for the Cyclicals?

by Jon S. Strebler

 

There’s Hurricane Jose, and two more behind it that may cause much more grief. Plus, we’re only about half-way through hurricane season. But at least in terms of Florida and Texas, Hurricanes Irma and Harvey, the US is into recovery mode and that, as discussed last week, will be a great boon for the construction industry.

 

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Storms: Virtual and Otherwise

by Jon S. Strebler

 

“The saddest aspect of life right now is that science gathers knowledge faster than society gathers wisdom.” - Isaac Asimov 

 

97% of climate scientists believe that global warming is real and that humans are the primary cause of it. By contrast, the latest Gallup poll shows only 71% of Americans think that “most scientists believe global warming is occurring,” and fewer than half say they “worry a great deal about global warming.” Whether Americans’ “what – me worry?” attitude, or their skepticism regarding legitimate science changes much after Hurricanes Harvey and Irma is anyone’s guess. But either way, Nature happens. 

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Technical Analysis Works, Except When it Doesn't

by Jon S. Strebler

 

Now that gold is officially bullish, we need to reevaluate our strategy towards the yellow metal. But wait! Who says it’s “officially bullish?” And why? Well, Todd “Bubba” Horwitz said so in a Kitco.com video interview last week, with the rationale behind that claim being…. um, basically because he thinks it is. That isn’t very convincing to me. 

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