Now that we’ve got another ridiculous, pointless holiday out of the way (I consider only 5 out of the 10 NYSE holidays to be worth keeping), we can focus back on trading with our 20%-already-hacked-off week. The screen is solid red, although we have another chance to see if Monday’s Don’t Matter or not.
In case you’ve been hiding under a series of large rocks, please note that the entire worldwide equity market depends on an obscure maker of graphics cards for personal computers called Nvidia, which is now worth more than Meta, Amazon, and Google. That big announcement hits on Wednesday afternoon, which all by itself will either destroy the stock market or give it a few more hours of fake-lift.
In the meanwhile, we can focus on Super Micro, which was a pipsqueak company that held the world in its paws on Friday. As of now, it appears to be relatively stable, although I’m highly confident a year from now this thing is going to be in the double digits.
Precious metals fanboys are getting a break, as the US dollar weakens and gold gets some much-needed strength.
However, it seems that crypto remains the Regent of Robust, since no news seems able to shake it. My favorite crypto chart, Ethereum, is doing just dandy, benefiting from its well-formed right triangle base.
Have a heart, though, and don’t mention to a certain convict that the entire crypto space has completely recovered. That would be a serious, serious bummer.
