. the popularity of Cheech & Chong is inversely correlated to the movement of the United States stock market. In other words, the more popular Cheech & Chong are, the less popular stocks are. . . .
. . .The chart below is an update of how the indicator has performed since August 8, 2008, when Cheech & Chong Reunion Tour tickets went on sale. Clearly, this resurgance in pot comedy popularity has been devastating for the stock market. Since August 8, the stock market is down a disastrous 37%.
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.
Read more: http://www.minyanville.com/businessmarkets/articles/cheech-chong-spx-SPY/12/3/2008/id/20196#ixzz28EtszI5X
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