___________
Back in late August, I wrote this post discussing the idea that Berkshire Hathaway’s share price had become a much better broad market, and in fact macroeconomic, “tell” than it had been in decades due to the cyclical nature of some of Warren Buffett’s recent acquisitions and investments (Burlington Northern Santa Fe, for example). Indeed, from a technical perspective, $BRK-A shares were flirting with a multi-year breakout from a massive symmetrical triangle during the summer.
Presently, $BRK-A has broken out of the triangle and is consolidating nicely above all major moving averages. On a weekly timeframe, the constructive nature of the price action continues to be a good reminder that, despite all of the terrible economic data and egregious monetary and fiscal policies, we simply must trade the market that we actually see, instead of the one we think we should have.
___________
If you enjoy the content at iBankCoin, please follow us on Twitter
Great insight, but 1:07a.m. = you are a mess.
@muktukchuck you assume he is east coast ;)…but yes Chess puts in tons of hours = workaholic
Thanks for the post chess. Printed and pinned to my wall
Cheers
amen.