The Dow is working on getting comfortable back above the 25,000 mark, as lots of people scratch their heads over North Korea, Iran and the Cavs-Celtics series.
In these topsy-turvy times, at least there are still some constants, such as millennials’ love for avocados[1].
And if you take that indisputable fact[2], mash it up and add a few spices, then you can produce a delicious chart of the day.
It’s a StockTwits duo that is serving up the chart[3] — the social network’s co-founder, Howard Lindzon, and user Matthew Timpane.
Former portfolio manager Timpane, aka OffbeatOperator, dished out the illustration[4] below for Calavo Growers CVGW, +3.63%[5] back when the avocado producer’s stock was around $95. It’s now at $97....
@offbeatoperator
“It’s still in an uptrend & is the leader in the avocado market.”
Lindzon has highlighted the chart overnight and given the trade a name — Avocados are “green gold,” he says[6]. Calavo’s momentum and relative strength are fading a bit, but it’s “still in an uptrend,” Timpane says. The company is “the leader in the avocado market” with strong profit and revenue, he adds, noting that he has been long the small-cap stock. Other StockTwits users are digging Calavo’s moves as well, with one looking at a multiyear chart and expressing surprise[7] at how steadily the stock has “gone straight up.” It probably can’t hurt that China’s middle class is developing a taste[8] for what’s called “butter fruit” over there. That’s as tweeter-in-chief Trump rhapsodizes about that country buying “practically as much as our farmers can produce[9],” and commodities-related plays are touted as a promising investment[10] for the economic expansion’s late innings. Don’t miss: Why the China trade gap will get worse this year, no matter what Team Trump comes up with[11] And see: Young people should step away from the avocado toast and do this[12] “All the low-hanging fruit has been picked” says nation that put wheels on luggage less than 20 years ago. — Morgan Housel (@morganhousel) May 22, 2018[13] Key market gauges Actual gold[14]
GCM8, +0.26%[15]
is modestly higher, as futures for the Dow
YMM8, +0.19%