(Note: The author, Joe Donohue, a close friend, is a former statehouse reporter for the Newark Star Ledger. He lives in the Trenton area. RA) You missed a doozy. The shore probably is more damaged than any time since the 1962 storm. It’s awful. At one point, nearly 2.5 million in NJ alone were without power- about 40 percent of all homes! There still are more than 1 million without power. 85 percent of Long Island was without power at one point. Long Beach Island in central NJ was devastated. Nearly every beachfront house was demolished. Also, an amusement pier in Seaside Heights. Two of my cousins have homes on the southern islands (Ventnor and N. Wildwood), which weren’t as badly damaged. But even their homes probably were flooded. We still don't know since they won't let people on the islands yet due to safety concerns. We fared relatively well, but were not totally unscathed. Hope remains without power. I got mine back yesterday afternoon. The wind toppled one of her trees into a fence. I was out Monday night for about a half hour cutting off branches to relieve the weight. I swear we were getting 80 MPH gusts. It was brutal. I was up most of the night because I was afraid of other damage to her place. Fortunately, it wasn’t too bad. But a block away, a tree crash smashed right into a living room roof. And another destroyed a garage. There are trees down all over the place in Hope’s neighborhood. We happened to know a guy with a powerful chainsaw. He and I cut up the tree and disposed of it after three hours of effort Wednesday morning. To top it off, this is our vacation week. What a blast! But I can't complain. None
Links
A Quick Lesson in How to Use Stochastics and Other Oscillators
– Posted in: LinksTo keep things simple, Hidden Pivot Analysis rarely concerns itself with oscillators such as stochastics, RSI, McClellan or MACD. However, these tools can sometimes be useful for predictive purposes — and for trading when combined with camouflage. This video offers a short lesson in how to make good use of these oscillators without having to know much about how they work.
A Close Technical Look at Some Popular Silver Stocks
– Posted in: LinksIf you’re a silver investor or trader, you know what a big difference timing can make. In this 70-minute presentation, Rick takes a close technical look at some popular silver stocks, ETFs and futures vehicles. Using his proprietary Hidden Pivot Method of analysis, he concludes that Hecla Mining and Silver Wheaton promise to deliver the best bang for one’s buck when the current corrective phase ends. There are a few others as well, and Rick explains how they can be bought speculatively now with relatively little risk.
Live Session: How to Use Oscillators
– Posted in: LinksTo keep things simple, Hidden Pivot Analysis rarely concerns itself with oscillators such as stochastics, RSI, McClellan or MACD. However, these tools can sometimes be useful for predictive purposes -- and for trading when combined with camouflage. The accompanying chart shows a ‘non-diverging’ MACD with bearish implications for the Dow Industrials. Why is this so? Join me Friday for a quick lesson in how to make good use of oscillators. The ideas I will present were at one time included in the Hidden Pivot Course under the heading “Everything You Need to Know About Stochastics in Five Minutes”.
Environmental Armageddon in the Gulf of Mexico
– Posted in: Free Links Rick's PicksExplosive methane sinkholes, stratospherically rising cancer risk and crude oil making its way up the food chain? This is the scariest story that has come my way in quiet a while -- the moreso because its author, The Common Sense Show's Dave Hodges, writes, spells and punctuates like an intelligent guy. A big part of the problem appears to have originated with Corexit, a carcinogen that was used to disperse oil from the Deepwater Horizon blowout several years ago. Click here for the full story.
Belkin Sees Stocks Plunging by 40%
– Posted in: Free Links Rick's PicksHere's the always astute financial consultant Michael Belkin with a prediction that stocks will plunge by 40% next year. I met Michael years ago when we were hired by an Alaskan mining company, Ardic Explorations, to scare up some business at investor events in, respectively, New York and Boston. He and I had fallen out of touch, but he recently turned up at the Big Picture Conference in NYC, making quite an impression on our Boulder friend and financial advisor Doug Behnfield. Click here for the video link.
Rick’s Picks Subscriber and His Mom, 77, Texas Heroes
– Posted in: Free Links Rick's PicksWhen armed gunmen attempted to rob their family jewelry store in Conroe, Texas, threatening owners Mitch Wilkins and his 77-year-old mother, the thugs got more than they bargained for. Click here for the full story.
This Election Isn’t About ‘Details’
– Posted in: Free Links Rick's PicksThe news media lost almost as big as Barack Obama in the opening debate. The nation saw an energized and aggressive Mitt Romney trounce a President who clearly has little to say and no record to run on. Was this a new-and-improved Romney, a guy we had somehow never seen before? Of course not. It was the same old Mitt, but this time, for 90 shining minutes, unfiltered by a left-tilting press that has maliciously and systematically attempted to snuff the life from his campaign since the GOP convention. Although the news media would have us believe that Romney is weak, clueless and bereft of ideas, it turns out that the Massachusetts governor looks very presidential when his words, deeds and ideas are not being under-reported by the conspiratorial likes of the New York Times, Washington Post, L.A. Times, MSNBC et al. The fact that liberals have seized on the lack of specific details in Romney's arguments is as pathetic as it is laughable. This election is not about details, it is about whether Government should be allowed to mismanage every aspect of our lives even more egregiously than it already does. If Obama has any more Big Ideas to present in the next debate, then bring 'em on! In the meantime, with their candidate bruised and bloodied, expect the news media, abetted by Obama's handlers, to do the only thing they can do now that he's flunked the debate: play dirty. Very dirty. Once again, we say "Bring it!" since any attempt to tar a fundamentally decent man like Romney is bound to backfire.
Dow 14969 Most Unlikely by Election
– Posted in: Free Links Rick's PicksIn a recent commentary, I said the Dow would hit 14969 by elections, rallying about 1400 points. On further consideration, I now strongly doubt the Indoos have sufficient energy to reach that price by November -- if at all. Stocks seem to be locked into a pre-election dirge and are therefore unlikely to do much of anything over the next five weeks. That said, it is beyond me to imagine that the market would stage a huge celebratory rally if Obama is reelected. More likely in my opinion is a hangover nasty enough to kill.
Interview: Rick Talks About Precious Metals
– Posted in: LinksIn segment 7 of this week's Korelin Economics Report, Rick and Al Korelin discuss precious metals.