Today's proof point is the smack down of Barrick Gold's CEO pay that you can read about here. The details are not important. I don't give a flip about what Thornton gets paid. The point is that this is happening and because it is happening there will be much less wild exotic high end spending even by those who didn't get their pay slashed back down to Earth yet because society is now serving them notice that it can happen and is happening. So expect those high end goods stores to keep plummeting like I predicted they would and like they have certainly been doing.
Speaking of high end store that are hitting the gutter, let's check up on Nordstroms. All I can say about this is that the 2018 puts are probably a very good idea right about now. So all of you reading this that are worried about spending $39.95 per month on my subscription service, ask yourself this: do you want to trade with me and my crew or do you want to trade against us? How much money would you have made if you had just listened to me on this?
Well, please take this chart as yet another case in point going forward. This is going to crash into the gutter because the C wave is now unfolding. Short this thing and set your stops above the 38.2 fib. And when you make a gazillion dollars by listening to The Captain, ask yourself if you are being penny wise or pound foolish by not subscribing to my service. It's 10 freaking dollars a week people. Seriously. you have to spend a little money to make money in this world. Stop acting like everything in the world should be free except the goods and services that you produce. That is a liberal attitude which won't get you very far in the coming years.
This one chart alone is worth thousands of dollars to anyone who is "investing" 6-7k on any given stock.
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