Well, the cash market hasn’t opened yet, so no victory lap, but this is a red wave I could live with:
I would remind you that the geniuses at Morgan Stanley were calling for the market to go up 10% today. So, once again, they are paid millions of dollars each to be dead wrong. Morgan Stanley is sort of like a giant building filled with Jim Cramers.
As I’ve mentioned, one irony of Slope is that I love, love, love talking about politics, but as a community we’ve decided to eschew such discussion since it just leads to ugliness. So, as a reminder, let’s not go there. I will point out, as a chartist, that watching the /ES slowly bleed out all night was pretty cool. This is based, I supposed, on the fact that the Senate is probably going to remain in Dem hands, which was unexpected. Of course, that probably won’t be clear until December 7th or even later.
Crypto remains a total shit-show. It is remarkable to me that Samuel Bankman-Fried could change from a 30 year old with $28 billion dollars to a 30 year old with $0 billion dollars in the span of HOURS. This is the age we live in, boys and girls. Wealth is built on nothing but air, and it’s gone in the blink of an eye. Oh, the freakish dickhead looking below isn’t SBF but is instead that weirdo Brian Armstrong, who founded Coinbase, but, meh, I just felt, artistically, he was the right choice.
Anyway, I won’t talk about politics (Dem vs. GOP) but I will happily be divisive when it comes to the markets (bulls vs. bears) and would like to express my fondest wish that, tomorrow, after the CPI, the bulls get absolutely nuked to hell. But we’ll have to wait and see.
