Red, Red Brandywine

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Howdy, Slopers, and greetings from pasty-land. I wanted to mention that at about 3 this morning, we successfully executed some important improvements to our infrastructure. You will hopefully find the site is overall faster and more responsive. We’re going to keep improving it, but this was a good leap forward.

I wanted to highlight a particular short of mine, Brandywine Realty, which is in the throes of what I consider a pattern (yellow tint) analogous to the one that took place prior to the financial crisis (blue tint).

Here is a closer look at recent price action. The breakdown over the past couple of weeks has been a positive step.

My Qudian (QD) long idea looked like it was unraveling, but the stock still has a steady series of higher lows. These “quick retreats” seem to be par for the course on this one.

Speaking of quick retreats, the 18% plunge in Bitcoin, which took place in just a matter of hours (most of it actually within the span of minutes) was a sight to behold. I don’t have a dog in this fight, but I was kind of amused to see all the HODLers screeching that it was recovering and the drop was just a buying opportunity. This screeching was taking place, oh, right about where that red arrow is pointing. I think the notion of this going to $100,000 (the “target du jour”) is wrongheaded.

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