Hey, Mr. CEO, want to stroke your ego by naming a stadium after your company? You’ll regret it!

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Hey, Mr. CEO, want to stroke your ego by naming a stadium after your company? You’ll regret it!

The old “fool me once, shame on you, fool me twice, shame on me” is germane to crypto, although I don’t think they’ve figured out the “fool me fifty-seven times………” rejoinder. But that’s about where the world is, and I think they’ve had enough of this useless crap. I strongly suspect that as it begins to sink in how doomed the entire crypto caper is, these ridiculous stocks will begin their final melt-down.

It’s quite clear that the “Bring Back The Year 2020!!!” crowd is in fine form today, as it desperately tries to keep bidding prices above the trendline. So far, they have succeeded. Here’s the /ES minute bar action:

I fear this could be a brutal, grueling, boring tug-of-war until something major happens, like Powell’s speech on Wednesday. It’s a good day for me so far, but what a grind!
First off, I did an extensive update to the Guide to Comments last night, so I encourage you to check that out. I guarantee there’s at least one feature in there that you didn’t know about.
It’s five in the morning (that is 90 minutes before the opening bell) as I am typing this, and at the moment, the /ES has respected its supporting trendline with remarkable precision.
