It’s been a nice long weekend, but I’m ready to start working again. Actually, I never stopped working this weekend, although there was one amusing little anecdote that happened Monday morning: I was driving along with my dogs, listening as I always do to Gilbert’s Amazing Colossal Podcast, and I just about had a heart attack when I heard them say: “Tim Knight”. It turns out a drinking game I had conjured up for their show and tweeted for them has made their next broadcast, so I can’t wait to hear what they have to say about it!
Bonds, annoyingly, continue to be strong. They haven’t wrecked their topping pattern, but sheesh the past week has sucked for bond bears like me.
On a brighter note, crude oil is getting hit hard. I’ve got a bunch of crude shorts, and my silly “gap at $73.25” obsession seems to have paid off.
As for equities, on Sunday afternoon they VAULTED higher thanks to the North Korean Peace thing. And, listen, there are a lot of uncertainties in this world, but if there is ONE thing we can be sure of, it’s that Kim Jong Un signing a piece of paper to settle a war that actually ended almost 70 years ago is going to be a BONANZA for Netflix and Apple earnings. Count on it. In spite of this indisputable fact, as of this writing, the ES has blown off its spike and is pretty much unchanged.
Oh, and one last thing: cryptocurrencies continue to suck donkey, and if Bitcoin breaks below $7000, look out below.