Because charting. And Bud Fox. And gold.
PS: OK, that was too short and more than a little facetious, so let me tell you something about Iwnattos over at Market Narrative. After following the dude’s blog for many moons I can say that some of his stuff I agree with, some leaves me agnostic, other times I think he’s spouting pure crap and gets me wondering what he’d been smoking just before hitting send. But he never fails to get me thinking, which is the number one thing I want from any regular reading material. His viewpoint of the market isn’t just different from mine, it’s different from just about anyone I’ve come across and that’s the reason above all others that he’s nothing short of must-read material in my working life. You can read all the bias-confirming cookie-cutter market prose and commentary that you want, I’ll go with the original brainwork every time no matter if I agree with the specific daily content on show or not.
Plus when it comes to Iwnattos’s chart calls they’re probably a wash over time, but there’s a certain type of specific stock call on technicals only that he makes which have a very high success rate. His post today about Dalradian (DNA.to) is one of them. So, ladies and gentlemen readers, do yourself a favour and pay attention, too.