I’ve got a great idea for a new quiz show called “Nope!” In it, you will wake a person up and give them three statements, and they have to pick out the one that’s false. Let’s give it a try:
- “A series of 1s and 0s in the form of a complex mathematical puzzle have gone up in value from one penny per puzzle to almost $100,000. The puzzle, by the way, has no real practical value.”
- “Russia has, for the first time, launched an ICBM into the Ukraine war, and therefore all the equity futures are up near record highs.”
- “A man walking down the street stated that Whoopi Goldberg wasn’t that bad looking, and that he would enjoy spending some time with her.”
You’re right. The third is the impossible one. I guess I made it too easy. Still, it’s a good idea.
I’ll admit, I’m disappointed. I was waiting with tremendous anticipation for the NVDA earnings, and although the fundamentals were very strong, the stock (and other semis) got hammered instantly.
This morning, for absolutely no discernable reason, these losses have utterly reversed, and the stock (and all the semis) are UP. So, yeah, F.M.L.
It’s also amusing to note that Bitcoin has, over the course of three months, DOUBLED from $50,000 to nearly $100,000. We are seriously living in a simulation. I’m convinced of it.
On a brighter note, Brazil (EWZ) continues to erode day by day. I’ve got a substantial March put position on this, and the only annoying thing about it is that it always ends the day with an insane bid/ask (like 1.15 by 5.20 or whatever) which completely screws up my P&L spreadsheet.
Still, the daily chart of EWZ is looking better every day for completing its top.
Lastly, I’ve taken a fresh look at the /ES, and in spite of all my griping, things are looking terrific. I’m not sure what it’ll take to cause the reversal that this chart suggests, but maybe next time Russia will slap some nuclear weapons inside their ICBM, instead of just conventional munitions.
