Another passage from Voodoo, Ltd. by Ross Thomas:

“Often encamped beneath the palms was an assortment of throwaway people, whose current euphemism was ‘the homeless.’ These consisted in part of the deranged, the jobless, the muddled, the addicted, the dispossessed, the senile — plus a variety of other mendicants who ranged from journeyman panhandlers to novice bums.”

One character calls pornographic magazines, “stroke books,” which made me chuckle. The Chairman highly recommends Ross Thomas’s novels.

Let’s take a look at MINI, which hit a new high on over nine times normal volume yesterday. Taking the long view, we see that MINI has been trending strongly for a good long while now.

MINI, Weekly Chart

On the daily, we can see the pop above the recent consolidation between $36 and $38.

MINI, Daily Chart

Finally here’s the 15-minute chart. Folks who were scanning the new high list saw MINI first thing yesterday, and the kicker was the extreme volume which made it a “front and center” stock on the screen. It finally gave a nice Dummy spot above the 10:45 bar. Always try to focus on MINImizing your risk instead of maximizing your reward.

MINI, 15-minute Chart

I will not see you next week because we’re going to begin our travels, but I hope to drop in from time to time to post something so the site doesn’t get completely abandoned: I appreciate the patience of all twelve of my regular readers.

I bought some Huggies on sale when the Chairman’s wife wasn’t looking. Big mistake. Huggies are inferior to Pampers in just about every way: design, construction, quality. If you’re a parent-to-be, take my advice and buy Pampers only. If you’re a trader, get long PG and short KMB (I’m joking).

We sing a lot of show tunes to “T” at bedtime; one of my favorites is the Gershwins’ Of Thee I Sing, Baby.

Of thee I sing, baby,

Of thee I sing!