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Richard's Remarks

 

Is there any good news out there? Yes, North Korea’s sadistic little dictator, Kim Jung-un, has not been seen in over a month. Speculation is that a coup may have occurred.  

 

Today was another see-saw market with the Dow as expected higher in a dead-cat bounce? Remember that when we get 10 days in a row when new lows out number new highs, the market is temporarily oversold and we can get a rally. We’re seeing the rally today, but if volume drops off on today’s rally, the rally will have been meaningless.

 

Nobody seems to be taking the drought in the west seriously. I can’t remember our last rain. Fracking has made us a world leader in energy production. But remember the fracking process requires huge quantities of water.

 

My son Ryan just called me from Hawaii. He reports water everywhere. Streams, lakes, rain. Hawaii is water heaven.

 

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