Prince Andrew Totally Resigns Another Epstein Casualty

 10/17/2025

 

Prince Andrew, the brother of King Charles III, will no longer use his royal titles.

In a statement Friday, Andrew said, "In discussion with The King, and my immediate and wider family, we have concluded the continued accusations about me distract from the work of His Majesty and the Royal Family. I have decided, as I always have, to put my duty to my family and country first."

"I stand by my decision five years ago to stand back from public life," he continued. "With His Majesty's agreement, we feel I must now go a step further. I will therefore no longer use my title or the honours which have been conferred upon me. As I have said previously, I vigorously deny the accusations against me."

Stocks Trending Down

 10/16/2025

 The DOW dropped 800 points in the last two days. I am feeling better about my bearish prediction . Here is my weekly newspaper column.

__________

 

Dennis Elam

Thursday after market close 10/16/2025

Word Count 379

Stocks Trending to the Downside

My contention has been that the overall stock market topped between October 3 and 7. In the last two days the DOW Industrials have fallen an intra-day 800 points. The tech heavy NASD 100 holds on but also appears to have started a downtrend.

The volatility index is an indication of just that, increased volatility. The ticker symbol is VIX. The VIX has jumped from 16.5 October 10 to 25.31 on the Thursday afternoon market close. This is an indication that the direction of the market has changed to the downside. The weekly VIX chart, far more important than the daily, has clearly turned up. This means higher volatility and more downside action ahead.

The financial media, financed by mutual fund companies, will say buy the dip or an inevitable correction. I don’t think so.  Elliott Wave Theory suggests this is a top of major significance. This would be akin to 1929, the dot.com top of 2000 or the subprime top of Fall 2007.  You read it here first.

This column has held that crude oil is in a downtrend. This past week it broke through the $60 level to the downside. It came off the daily low of $57.26 to close at $57.46. But the high for the day was $59.11. The price fell 81 cents from the close on Wednesday. How does the market feel about this?

Consider the major energy service stocks. Halliburton dropped 2.55% today to $21.82. In June 20245 HAL trade for 3.1x book value. Today it trades for 1.98x book value. Patterson PTEN is a major service provider in Texas. PTEN is trading at 62% of book value. This is a literal fire sale, if PTEN were selling of its assets.

Among producers, Apache APA has dropped from $25.50 two weeks ago to $23.00 today. Even Exxon Mobil XOM has dropped below all four of its 200-day moving average.

Gold and silver are on a tear to the upside. This should last into next week.

The ten-year Treasury Note yield dropped to 3.97% today. The previous low was 3.88%. It appears that the previous low will be taken out. Wall Street is near certain of another FED cut.

Professorelam.blogspot.com

 

 

Meet Patty Wetz

 10/16/2025

Patty Wetz, Managing Director Audit for Aprio, will speak to our classes noon Saturday November 8. Here is her bio.

______________

 

 

­Patty Wetz, CPA ^­

Managing Director, Assurance Services

Office: 210-740-0637
Email: patty.wetz@aprio.com

 

Patty Wetz is the Managing Director for Assurance Services, with over 20 years of experience specializing in financial statement assurance and consulting matters for foundations, healthcare entities, associations, faith-based organizations and other nonprofit organizations, as well as specializing in financial statement assurance and consulting matters for construction organizations. She has a wide range of experience with complex issues, including internal controls, revenue recognition, fraud investigations, internal audit matters, valuation of intangible assets, joint ventures, mergers and acquisitions and more. 

Patty’s passion lies in building strong, productive relationships with both her clients and team. She invests the time to listen and learn about her clients’ organizations, objectives and challenges. She then partners with them to implement the right strategic initiatives to achieve their objectives. As an enthusiastic mentor, she is committed to cultivating a positive and healthy team culture, where all members thrive and grow.

Patty provides overall audit coordination, working closely with management to communicate the status of the audit/reviews, opportunities for improvement, and overall audit/review results. She presents drafts and other deliverables to management and those charged with governance and is a resource throughout the course of the year.

Patty earned a BS in Accounting from the University of Texas in San Antonio. She is a member of the American Institute of Certified Public Accountants (AICPA), the Texas Society of Certified Public Accountants (TXCPA) where she serves on the board of the San Antonio Chapter as well as on the Accounting Careers and Education Committee. Passionate about the future of her profession, Patty also serves on the TXCPA Pipeline Task Force for the State of Texas.

Patty has worked for firms of all sizes, including the Big Four, mid-tier, and a small firm of less than 10 employees.

 

 

 

Meet Natalie Grabow, an 80Year Old Ironman Champ

 10/16/2025

Natalie Graabow 

She only learned to swim at age 60,, read the story, amazing.  

Tom McClellan Looks at CAPE

 10/16/2025

Tom McClellan is the son of the couple who developed the McClellan Oscillator and the Summation Index. He has interesting ways of presenting data regarding the market. 

Here is a link to his take on the hShiller CAPE metricand the stock market 

It is now more over boought than in 1929 and almost to the March 2000 dot.com, bust level. 

The market continues to hang around 46,000 frustrating bears and not doing much for bulls. 

Waiting for a Make or Break

 10/15/2025

Looks like my ABC pattern took a bit longer than I expected.

 Here is an update on the A B C form of Wave 2 up, if that is what is happening. All the major indexes are now in similar pattern. A break above the October highs for any will negate this pattern. The bull is not giving up easily. 

HHere is the Equal Weight SPX showing pretty much the same pattern.  This is not the SPX reported in the WSJ or Fox or CNBS which is heavily wieghted  for the Mag 7 stocks, about 37% of the 500 but I think this is a better look at what the overall market is doing. 

10 Year Yields

 

Yields are approaching previous low of 3.88%, breaking that means lower yields, not higher. 

Gold and silver look good into next week but I would not care to take chances on this now extended run. 

November Crude Oil 

 Today qualifies as an inside day but  having broken 60, lower prices still look like a better option.

I am frustrated the stock market is not giving up but as Richard Russell used to say, Patience. 

 

EWI OpenHouse

 10/15/2025

 

@elliottwaveintl's Open House event is on now. Get a FREE 7-day trip inside their Pro Services platform: Elliott Wave OpenHouse   Pro Services made this #silver forecast on May 16. See what they're saying now for 70+ market - #gold, silver, #oil, #stocks, #forex, #cryptos, ...