Wednesday, December 3, 2008
Cheech and Chong Stock Indicator
Minyanville just published a fascinating piece, explaining that the popularity of Cheech and Chong is inversely correlated to the movement of the United States stock market. Or as Minyanville says 'the more popular Cheech & Chong are, the less popular stocks are.'
Cheech and Chong Reunion Tour tickets went on sale 8/8/2008 and the resurgence in pot humor has been devastating for stocks: Down by 37%.
The article closes: "After a mind-numbing move of that magnitude, I would love to say that the Cheech & Chong indicator is finally forecasting a bottom for stocks. But no. These guys keep adding dates! They've got a concert film in the works. Creeping Jesus, they were actually roasted on television last Sunday night by Martha Stewart and Wilmer Valderrama! Where will it end?
With concert dates scheduled through at least February 2009, the Cheech & Chong Stock Market Indicator is telling us the end of this bear market is at least several months away."
So, please: put the bong away, throw away the joint and tear up your Reunion tickets. It's time to get serious and stop the bleeding on Wall and Main Street. Think about it: When Tommy Chong was in prison, the Dow Jones was around 10,000. How would you and your 401k like that right now? We should start an immediate investigation how those two stoners are rigging the markets. Treason charges should be looked into. Enough is enough.