lightning strikes twice

The Da Vinci Code – Dan Brown Finished 29-Nov-04

I avoided this book for a long time because of its popularity. I was eventually convinced to read it by being lent a copy.

The concept is engaging — a murder, a mystery, and endless religious intrigue. However, this book has many, many flaws. While well researched, there are errors in the historical content.

Worse for me though was the appalling prose. It was overly mechanical and left nothing for reader to infer. In fact, it treated the reader like an idiot, explaining everything that happened in detail.

Just as bad was the dialogue. I cringed on many occassions. The flashbacks to the Langdon’s lectures and the romance scenes stand out as particularly awful in my view.

I can see why it was popular: it was written for the lowest common denominator to catch as many peope as possible. But in my opinion its probably the least deserving best-seller I’ve read in a long time.

The Prince – Niccolo Machiavelli Finished 25-Nov-04

This book and the author have been cast in a poor light – even tupac had a gangster rap cd named after Machiavelli. Generally, this book is thought to promote deceit and to demolish virtue, and mostly now by reputation.

But on reading, it is far from that — it is rather a sensible, well reasoned and well argued treatment of maintaining power. An examination of “realpolitik”.

The real question is whether this “power at all costs” rationale can be justified. Machiavelli’s assumption is that a ruler will and should do anything to retain power. Inside this scope, the writing isn’t particularly scandalous.

Ch 17: “Upon this a question arises: whether it be better to be loved than feared or feared than loved? It may be answered that one should wish to be both, but, because it is difficult to unite them in one person, it is much safer to be feared than loved, when, of the two, either must be dispensed with.”

• ALN – support at $7.80, will retest resistance at $8.00
• AWC – extended past $7.80, but has retraced, observe today
• ANN – looking to breakout at $9.20
• APN – not a strong break over $5.00, but may retest later
• AQP – seems to be at bottom of cycle, momentum indicators suggest a reversal, observe
• BHP – broken above $15.00 on strong volume. Might retrace to $15.00
• CTX – look to maintain above $9.00 for confirmation
• COH – double bottom? look for another day of strong volume, then buy
• DOW – seems determined to stay at $4.50. observe for breakout on volume
• MGR – has broken $4.60, observe today
• RIO – testing resistance at $39.00
• STO – possible profit taking – observe
• WOW – breakout from $14.50 – observe today

Cellphone Pocket Flask

Just in time for holiday season:

you’re sitting at christmas dinner with your folks. suddenly a phone rings…. but is it a phone, or is it you? “bring bring”. you whip the cellphone flask out of your pocket and take a swig.

call answered.

• CTX – broken through $8.75
• CML – waiting till break through $10.00
• DOW – nervous at $4.50, no strong indication yet

Labor, and we, will live to regret US trade deal – Ross Gittins

Ross Gittins, excellent as always.

• AWC – hold, could be retracement as selling on low volume. Possible double-bottom situation.
• CML – sell, divergence on MACD, and imminent dead cross on EMA and MACD
• WPL – buy, golden cross on MACD and EMA, but volume is a little light. Went above $20 this morning.

Opportunities:

• CTX – MACD histogram shows increasing momentum, golden cross on MACD 9 day signal passing through 20 day signal, high relative volume, but resistance at $8.75.
• RIN – breakout above $9 with strong relative volume, EMA 9 above EMA 20, and MACD signals strong.
• WPL – double bottom, looks set to test $20 again, golden cross on MACD, and imminent golden cross on EMA

Over the past week, strongest sectors were:

• Energy – WMC, WPL
• Materials
• Utilities
• Consumer Discretionary

Australia
Market finished up, just short of record highs. Outlook remains positive, estimates that ASX 200 will break 4000 mark by early next year.

Economic growth strong, wages stable – interest rates will stay stable.

US
Wall Street showed strong gains, Dow Jones to eight month high on Thursday.

Deadly boring and self indulgent. God help me if I’m ever made to read the book.