The "What Ian Can See" WICS trading information newsletter - past edition.
Ian's weekly look at the world economic situation. Members get access to the current edition, searchable archives, chart analysis and one-to-one mentoring on your trading.
Hello again, and welcome to a somewhat short - but not necessarily sweet - Saturday morning ramble. Colin, my excellent webmaster, is taking this weekend off at rather short notice and I have promised to hand him today's mutterings as early as possible in order to give him and his good lady more time by the sea. I confess that I wouldn't mind "the sea"myself at the moment - central Sweden is melting in the heat and there's still no sign of a change.
In any event 'tis doubtful that many of you good folk will be paying a great deal of attention to IW's nonsense this weekend anyway, given all the so-called "sport" that's on the go. Yes, it's IW Bah-Humbug time, because "sport" is yet another word to have lost its true meaning these days. It's all about the money, but there again, everything is about the money nowadays. No doubt there will be books and films to come, anent the truly wonderful and uplifting rescue of these youngsters in Thailand, in order to monetise the whole thing..............
Anyway, "money" being the IW beat, ought I be complaining?
Onward to matters concerning filthy lucre then, and first here's a surprise for you - UK credit card defaults are on the high side.
I knew that would surprise you! Or perhaps not?
Then there's the ongoing Brexit train wreck, with Nellie Trump once again engaging his mouth before his brain had woken up in order to offer his half cent's worth of advice to Notmaggie. Why is everyone always picking on her, I wonder? Could it be because the poor dear is colour blind? (Red lines that become pink ones before turning a millennial-friendly shade of fechy grey....)
"It's Brexit, Jim, but not as we know it", in the immortal words of Mr Spock.
And of course 'twill be watered down even further as suggested here last weekend, to the point where it becomes "remain" - it's already back to "remain" in all but name of course, except that Blighty will be even more toothless than it already is. I'm sure you're fed up with the entire fiasco, but just in case you seek a little respite from the "sport", here's another link to consider.
And here's an email from "Gordon", just received. Interesting points!
I was pleased to read your Remainer decision-making - also my sentiments and decision, but with two related reasons:-
a). The EU system, like all corrupt enterprises, is likely to fail 'sooner or later' - although the UK would continue to perform 'better that average' if we stayed in. Also, it was possible it would fail 'much later' or 'not at all' if we stayed in and managed to redirect it.
b). However, if we decided 'out', the EU would probably fail ' much sooner' - causing serious (long term?) damage to the UK, EU and the global economy in the process. That seemed a risk too far - but I am not an economist able to evaluate such a risk.
I do not recall this combination of reasons being discussed
I agree that had Blighty "remained" there would have been a chance of "redirection", but there again, look at all the years of missed opportunities for the UK to have done precisely that! I'm not too sure about the "failed much sooner" idea, because of that fact.
That's plenty serious stuff for this brief ramble then - a few sillier things noted as the week progressed included the "cow" that was seen "stuffed in the back of a car on the M4 and reported to the Plod". Having seen the photo, it wasn't a cow, it was just a calf, and I wonder if anyone would have reported the matter had it been a socking great St Bernard all hunched up in the vehicle? (I don't condone it, any more than I would condone carrying a St Bernard in a wee car. A bit more space might be a good idea.)
Then there's the amazingly imaginative name for Aberdeen's new exhibition centre - The Event Complex. Hmm, a lack of creativity there methinks!
The Torygraph ran a piece entitled "Small carrots expected to hit shelves" and I confess that set this vivid imagination to work, while some Booker prizewinner's suggestion that "all books should carry trigger warnings to protect students from ugly truths" got me angry and despairing at the same time.
(Oh - sorry! This ramble should have begun with a trigger warning, should it not? Too late.....)
In another piece noted during the week, some journo was complaining about Paris. "People are forced to queue for hours to visit the Louvre, the Eiffel Tower etc etc". Now I know that most of us (all of us?) live in police states nowadays, but who is forcing these people to queue? Are there long lines of French riot police insisting that they stand in line, at pain of a good kicking if they refuse? Duh.
Anyway, that's all for this weekend folks - I'll leave you with two quotes, one of which is naive rubbish and the other rings true:
"Companies should remember they exist to serve people" (Chairman of the FCA.)
"Societies accrue their greatest wealth at the moment they face death" (ex NYT journalist.)
Oops - one more thing. Am I alone in smelling a nasty Establishment fibbing-related stench around this entire Novichok business?
Onward to a couple of charts then, and first there's a look at a potential double top on the Cisco Systems picture. The other chart today shows that the wee triangle I drew last weekend on the DJIA is no more, and there are other options to consider now.
OK - time to print off this nonsense and tie it securely to the pigeon's leg. Over to you, Colin!
All the best till next weekend.
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