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I’ve blathered on endlessly in past months about what a beautiful “waterfall” tumble Cracker Barrel is performing, but I never did anything about it. Well, today I did. For the first time, I bought puts on CBRL. They announced earnings pre-market, and it had a big bounce, so I figured this was a good time to get in.
I thought you’d get a kick out of the eye-watering prices for going to schools here in the Bay Area. Our own kids went to two of these, and let’s just say I’m glad not to be writing six figures of tuition checks year after year. But, hey, I still get to pay sky-high California income and property taxes, so yay.
I honestly think in the next couple of years this kind of thing is going to become commonplace, as the lower classes realize how badly they’ve all been duped. There’s a REASON Mark Zuckerberg spends (well, forces his company to spend) almost $30 million per YEAR on his own personal security (whereas he used to jog in front of my house, alone, on a regular basis years ago). It’s because resentment is going to boil over. Weirdly, the stock is UP on this news.
Just about the only asset I can point to as something I’m enthusiastically bullish is silver. I’ve written about this many times, although its behavior over the past several months has been frustrating, as it has meandered aimlessly in the lower 30s.
The Services PMI came out this morning. Turns out that expectations were beat month after month before the election, particularly big beats in October and November. Now that the election is behind us? Garsh, a big miss!
