Old Possum's Book of Practical Charts

Mr. Gautama,

I see and notice the respect the price line gives that channel. I first learned that phenomenon just yesterday when visiting the local "service" station. Once again, I'm paying 1.89,9 per gallon of unleaded gas. Do you know, I don't think anyone on this side of the Atlantic gives a horse's patoot about prices. Sad state the human condition, these days. If it gets worse I'll move to the country.

Cordially,

W. Bruce Dixon
 
Uncle Merchant also likes for me to draw this chart for him every night before bedtime because it excites him so. It shows what has happened to gold since he loaded up in the $280-320 range the last time he was employed for more than day labor. Notice how tightly gold stays in its channel. Uncle Merchant likes his channels tight.
 

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Dear Bruce. If I may be so bold as to call you "dear". I think you are all missing the point. The price of oil or of gold is not the problem or the opportunity. It is the price of mid-grade CHAMPAGNE. Three years ago when gold was $300, a bottle of Chandon California Brut could be had at discount for under $10. Now one is lucky to find it under $17. The same has happened to Piper Sonoma, Roederer Estate, and Napa Brut Cuvee. One lamentably is reduced to drinking Moet White Star from Sam's Club. Were the shelf life of champagnes longer (it leaves OUR shelf in a day or two), that would surely prove to be the superior investment. This has nothing to do with oil, gold, or the euro. It's that America is getting drunk on home equity loan money! In Merchant's case, his California unemployment of $480 a week was more than adequate to keep him in booze. Something is seriously wrong with our system. Emil.
 
Mr. Guatama,

Since he has bought at a good price the tight channel rising at a good clip helps me frame the following thought, "Will a dollar really only buy about 1/423 of an ounce of gold?" I've got to rush on, please give my regards to your uncle.

W.
 
Emil, of course you may address me as dear in a formal way, but I brook no infomality. And say, there, a minute I like Ginger Ale @ $1.39 a bottle so maybe you shouldn't be grousin' about haffin'
to pay up for something with some real bubbles. Yikes, I feel you're close to some rant and can't stay for it, got to go. Regards, Emil.

Bruce.
 
I am looking after lonely Mrs. Merchant in my dear friend John's absence. Perhaps you can tell me how to explain to her how on earth her husband managed to interpret the TNX chart as a signal to cash out of bonds three weeks ago. He tells me Jack Hershey came to him in an elaborate three way sex dream and said to do it. But I can't tell her that. He shouldn't be dreaming of Jack. He said Jack in the dream had his mouth full, but what he said sounded something like "A pennant formed after a double bottom after the first downward acceleration of a downward channel will always break up in an inaugural year after an upward FTT of the original downward channel." Capiche?
 

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If you advised Mr. Merchant to go all cash three weeks ago, then you've missed a few extra bottles of champagne between meals. This rally after election is what we should've had 4 years ago. Would've saved my from cruel fate. But I'd be no wiser, today. Some have argued that it hasn't made any difference at all in me. Games people play.
 
Yeah, well, I made such a big deal with the wife out of going flat on January 4 that I am in a heap of trouble if the market doesn't tank. I haven't traded for two weeks because of training, and won't for the next month or so because of a gig. So I must content myself in the interim with misinterpreting and posting daily charts to mislead ET. With all the bullshit here, I doubt if anybody knows the difference.
 
An able mind is the greatest resource of any teacher. If I was any stupider I'd advise you to rush right out and buy Drucker's latest book on management: http://tinyurl.com/3somo

I'm just getting back to normal after about 3 months of really being down with the cancer. No way I can do more than take care of my parents, trade when I can and create a cyber life here on ET. Really, still able to work, is a blessing if you can take the whole deal in stride with the rest of your life.
 
My God! I didn't know old Pete was still alive. My first management book was The Practice of Management, which a VP gave me in 1972 because he thought I was such a putz. It is truly amazing how management has deteriorated since then. It used to be that the customer was the customer. Now it's the shareholder. No wonder American business is so fucked up.

What kind of cancer? Ovarian? I know, not funny. At least I can be sure what will kill ME. No, not cirrhosis. A jealous husband! Hang in there. Trading is therapeutic. When you can take money at will from the market you feel like an immortal god. If the evil MM's can't kill you, nothing can.

P.S. ET is a life?
 
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