In addition to these standard/basic chart patterns, there are some additional lesser know patters which chartists should be aware of. A brief thread. The first one is known as "The Nessie". [1/7]

https://twitter.com/TechCharts/status/1792256189390004628

Next is the Baumgartner. [2/7]

The bulls have 2 big points arguing in their favor. The first is that we are seeing gobs of breadth, which is bullish. [1/x] The second big point in the bulls' favor is that we are now in the 3rd year of a presidential term, which is nearly always an up year. [2/x]

Pro tip: When your chart has too much text, drawn lines, decorations, and other crap on it such that you cannot see the data, you are doing it wrong. Part 2 in this series.

2 weeks ago, I attended a briefing by the head of a local Drug Enforcement Agency field office. He spoke a lot about fentanyl, which the DEA considers its biggest problem. During the course of the briefing, he answered the big question I had, which was… [1/5] …about why the cartels are putting lethal dosages of fentanyl into the pills they sell. This seems to be against the cartels’ interests, to kill off their own customers. He explained that they put it into counterfeit oxycontin and Adderall pills… [2/5]

Great questions posed by @SaraEisen. Let’s go through the multiple steps of the questions she raises. [1/n] Should Yellen have predicted the omicron wave? YES. She has innumerable statisticians, economists, immunologists, and mathematicians at her disposal. Any of them should have been able to see the obvious ~4.2-month cycle in the worldwide Covid cases data. [2/n]

QT3 chart, for upcoming Spaces conversation with @leadlagreport. M2/GDP chart, for upcoming Spaces conversation with @leadlagreport.

Some people may not well understand the point about the 2-year T-Note yield and its relationship to the Fed Funds target rate. It might help to think of the Fed’s interest rates as a throttle on the economy. Here’s a thread. @DLineCap @judyshel [1/19] An engine will operate most efficiently within a relatively narrow range of RPMs, and this is true whether it is a gasoline piston engine, a jet turbine, a steam engine, etc. But under different loads, like driving up a hill, you need a different amount of throttle. [2/19]

A thread on relationships.
Their ship having sunk, a group of passengers were sitting in a lifeboat, awaiting rescue. Suddenly, one of them reaches into his bag, pulls out an augur, and starts drilling into the bottom deck boards. [1/4] Another passenger objects, and he replies, “What’s your problem? I’m only drilling under my own seat?” [2/4]

Okay, here goes. The short version is that if you are relying on "experts" whose salaries are dependent on keeping the AGW propaganda going, you are going to miss out on a lot of message of what the data say. First up: CO2 does not explain the Roman & midieval temp peaks [1/n]

https://twitter.com/jhgage1/status/1442312808557948929

Nor does it explain the cooling from ~1000AD to ~1700AD. [2/n]

The first min. wage law in the US was a racist effort to block employers from hiring blacks, who were willing to work for less money. It worked as intended. Every min. wage hike has led to higher black unemployment. Only a racist who wants to harm blacks would advocate for this.

https://twitter.com/CoriBush/status/1419069203022233605

Minimum wage hikes also harm the 16-19 year olds, who are most likely among workers to be at the minimum wage. It inhibits them from getting their start in the work force, so that they can start climbing the ladder to better jobs.

If It Moves... (a thread)

Army Version:
If it moves, salute it.
If it doesn’t move, paint it. (1/x) Mechanical Engineer Version:
If it moves: torque it down harder, duct tape it, bungee cord it, ratchet strap it, SuperGlue it.
If it doesn’t move: Use WD-40, or a bigger hammer. (2/x)

This is weird: Silver futures rose 5.1% Thursday, supposedly because of a Wallstreetbets post at reddit.com/r/wallstreetbe… proclaiming “THE BIGGEST SHORT SQUEEZE IN THE WORLD $SLV Silver 25$ to 1000$.” [1/4] But according to wsj.com/market-data/qu…, SLV only has short interest of 3.9% of shares outstanding. So not much to squeeze. And on this day that saw the 5.1% rally in silver futures, SLV’s shares outstanding actually dropped 0.8%. So much for the Reddit rush. [2/4]

A thread on some 2020 voting data. Don’t @ me. All conclusions are up to you. Because I’m a data guy, I got curious and fetched the voting results (to date) for the presidential race and for all 435 congressional races. What I found was interesting, although not necessarily problematic. Biden got >3M more votes than all Democrat house candidates combined.

@factor_members Okay, here comes a long thread. Not sure how long, as I have not figured it all out. First point is that this is a bit of an unfair question. It is like asking me which of my children I like the best. Second, the answer varies in different periods. @factor_members I am pretty partial to the NYSE's A-D Line. It does not always give you a divergence every time you think you might like one. But when it does diverge, you better listen to it.

50 years ago this week, I wanted to be an astronaut. That is not very remarkable, since just about every 8 year old boy back then wanted to be an astronaut. [1/?] The Apollo program was the pinnacle of the space race, and on July 20, 1969, Neil Armstrong and Buzz Aldrin landed on the moon and took a walk around. They did all of this on live TV, which was incredible. [2/?]

Here is some interesting trivia about the statistics on New Highs (NH) and New Lows (NL). The modern history of these data begins in 1980 because that is when the procedure for keeping track of NH and NL got changed to the current practice. (1/5) Before computers, the records were kept on paper ledgers, one page per stock, and per year. Every year the record keepers would start a new ledger. (2/5)