Berkshire Hathaway hit a few new all-time highs this week. The October rally stalled anyway.
A record high on a stock that moves like a glacier. Congratulations to everyone involved.
Picture the celebration. Somewhere in Omaha, a man drinks a Coke and eats peanut brittle. That is the party. No confetti. No bell. Just a chart inching up a hair and calling it history.
Technical analysis has a name for this. It's called "up a little." I charge nothing for that one.
The retail trader sees "all-time high" and feels something. Excitement. Destiny. A tingle. Then he checks the price and finds it moved the way a houseplant moves toward a window. He bought a stock built to bore him, and it delivered.
Breakouts come with volume and conviction. This had neither. This was a stock tiptoeing past its own ceiling so nobody would wake the market. The rest of the week was flat, which is the market's way of staring at its shoes.
The October rally stalled. Fine. Rallies stall. Buyers got tired, sellers got bored, and everyone went home to explain it to their spouses with the word "consolidation."
Berkshire's chart doesn't care about your thesis. It cares about moving sideways with dignity while you refresh a brokerage app at 2 a.m., hoping the line looks braver.
Warren Buffett built a trillion-dollar company on patience. You can't wait for a pizza to cool.
Photo by on Unsplash
Leave a Comment