General Motors announced their results this morning, and the mainstream media did their required job of gushing on and on about it.
The gushing had its intended effect, which was to pop the price higher, but it didn’t last long. It seems that “Brown Shoots” are starting to appear. Specifically, companies crank out their oh-my-golly-gee earnings results, and the stock sells off anyway. I hope to see a lot more of this. My January 2024 $43 puts remain firmly intact.
Across the board, I’m keeping the long view on such things.
By the way, the light finally went off over my head about ZeroHedge. I’ve puzzled for the past year about what’s up with those guys, and it finally hit me: they’re an ex-smoker.
I’ve never smoked in my life, nor has anyone in the extended Knight clan, but I’m sure you’re acquainted with the nature of ex-smokers: they’re the most noxious, loudmouthed, anti-smokers on the planet. Well that’s what’s happened with ZH. They were bearish, through and through, from 2009 through early 2022. And then, and with increasing fervor, they have become zealots about tearing to pieces anyone who dares to stick to the bearish line. Here’s a tiny snippet of their sneering:
They cast bears as fools, nincompoops, and utterly out of step. Those functions are already well-served by the mass media, thank you very much, so I’m not sure why ZH decided to join the fray. However, when I read their latest tear-him-to-shreds missive about Mike Wilson this morning, I finally realized what their schtick was. They were bearish for almost their entire existence, and now they have taking the ex-smoker’s self-loathing playbook and applied it to their own raison d’etre.
Me? For better or worse, I am as constant as the Northern Star, and it drives some of you insane. But I still have fabulous hair.
