Ralph Waldo Emerson got my attention in high school when he urged against conforming for conformity’s sake, and it’s advice I’ve rather gleefully followed (although I’ve often wondered if not conforming just for non-conformity’s sake is any better). But in any case, I think it’s fair to say that at least in the investments business consistency for consistency’s sake is a good thing. After months of preaching basically the same thing here about the stock market, readers should be neither surprised nor significantly harmed by the mini-meltdown of the last 2 weeks. Similarly, a big up day in gold, following a big down day awhile back, changes very little overall. Thus, we can afford to go on a bit of a tangent today before pondering the recent action.
I get the feeling that more than a few readers find Point & Figure (P&F) charts somewhat mystifying, and want to address that ... Log in or subscribe to continue reading.