Josh at The Reformed Broker breaks out a chart showing “a blueprint for a potential head-and-shoulders topping formation with either the S&P or the DJIA currently sitting at the neckline.” Here’s the chart:
Josh says the ”right shoulder is coming’ meme will eventually go mainstream.” I’m no chartist, but when I stare at that chart, I have to admit that I don’t see the head-and-shoulders formation. I see something else. I see Batman’s cape:
I remember the old “Bat cape” trade of March ’09. When you see the Bat symbol, get on the right side of Batman.
Hilarious. I actually laughed out loud…
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Methinks it is like a weasel.
(Psst. If you don’t tell Professor Dawkins, then I won’t either. Deal?)
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looks very similar to the coors light chart but the discerning gentleman will recognize the subtly different “old english 800” – like right shoulder that makes it the malt liquor mountain of doom. time to short.
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Clearly a roller-coaster formation. And as we all know, if you had sold uncovered long-dated straddles on the roller coaster back in aught-five, you’d be retired by now, preferably in a country with no extradition.
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That looks like a Coors Light Chart. When the mountains turn blue its time to sell.
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I see a camel, or a centipede.
I am going to go look at clouds.
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