Intraday update of APCC... it continues to coil, but this patient has flatlined, doctor. The best you can say is that in the face of some very ugly broad market action today, this puppy refuses to crack (so far).
APCC, 15-min. Chart
Bill Gross posts his August Investment Outlook, Lemonade for Sale:
America's and, therefore increasingly, the world's economy is unstably founded on a base of cheap money used as leverage to support certain asset prices of dubious value. If and when the cost of those funds moves sharply higher for any reason - a dollar crisis, inflation, foreign central bank sales of Treasuries, increasing budget deficits, to name a few - then the flaws of a levered economy will be quickly exposed."
He sounds annoyed about the new competition... and continues to spin the same old yarn about an "over-levered economy."
Deutsche warns oil price may hit $100. Headlines like this make me want to sell my crude position and go short.
Bambi Francisco reminds us that Lycos went from a valuation of $12.5 billion to $95 million in less than four years.
The coil scanner picked up APCC. American Power Conversion has gone completely flat the last couple of days. You know what follows range contraction....
APCC, 15-min. Chart
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