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After thirteen years of ceaseless abuse by the Powers That Be, I am persistently skeptical about ANY good news. It freaks me out, because I imagine is disaster around the corner. Even though I was SPOT ON last week and SPOT ON for Monday, I figured my good fortune surely must have already ended. Even so, I went 100% hyper-bearish again on Monday, ending the day with absolutely not a penny of buying power left. So imagine my surprise just now:
First of all, although I know some of you will protest, I have decided (once again) to eliminate myself from the Top Ten Virtual Traders list, because my equity amount (over $65 billion) has become just plain stupid. I thought for a while maybe I can get it to $100 billion or, who knows $1 trillion, just to be goofy, but, let’s face it, this isn’t helping anyone, and I’d rather focus on my REAL ACTUAL account. So, congratulations to Secundus, who is now in First Place!!
OK, let’s talk about the markets, and we’ll start with the S&P 500 futures (the ES):
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Black Friday marked one of the steepest one-day declines in crude oil history.
(more…)It is absolutely hysterical people thought this was going to be a great new company for the ages. What a piece of absolute dogshit. If this was a truly organic economy, not only would HOOD not exist as a ticker symbol, they would not even exist as a business at all.
If you, as a U.S. citizen, would like to saunter into a country and have incredible buying power (even with the otherwise worthless paper fiat in your pocket), you could do a lot worse than popping into Istanbul and buying anything you see. The US Dollar can gobble up Turkish Liras like never before.
