I ran a poll on X.com yesterday to see what people thought would happen with Tesla this morning:
Errrr………wrong! Although, as I said yesterday evening, today would probably be a fine time for Tesla bulls to take profits.
At the moment, for the first time this week, the stock market is looking unsure of itself. The /ES is up just a few hundredths of a percent, and the merciless assault of Sunday, Monday, and Tuesday is looking exhausted. Here’s hoping it holds!
More importantly, and my proposal for the greatest friend of the bears, is what’s going on with bonds. All the dorks on CNBC are obsessed with things like META earnings this afternoon, but the real story is that bonds are continuing to weaken relentlessly, having done so for the entirety of 2024. What does this mean? High inflation. High interest rates. Lower stock prices. And record dork levels for CNBC hosts.
