All I really ask of life is that I wake up to this kind of screen every morning:
The market was at the highest point in human history just a few trading days ago, but I’ve already been seeing the fractures. I did an epic premium post last night – – for those among you with the decency to actually pay to support Slope – – which will probably wind up as a “Best of the Best” post for our archives. It laid out the extraordinary circumstances markets find themselves in right now.
Indeed, the fracturing of the /RTY trendline is something I’ve been harping on since it started on Friday, and which I highlighted yesterday morning when the RTY Trendline Failure post – – it seems this continues to bear fruit.
Also, important, weirdo Alex Karp’s company Palantir (supported by power bottom Peter Thiel and the most corrupt government since the age of Nero) produced killer earnings last night, which produced a spike lasting just moments. Since then, it has been grinding lower, as folks realize that fiat is better than the most overpriced company in human history.
Of course, Karp is considered some kind of genius (certainly due to the crazy hair, which is the same stunt that James Altucher has been playing his whole life), but if you want to try to get your head wrapped around his bizarre rantings during the earnings call, be my guest. What a freak.
Meanwhile, across the ocean, Jen-syun Huang was getting shit-faced in celebrate a new high for his own Nvidia, worth well more than $5 trillion. For now.
In total, the markets have been bleeding out all night. I’m mildly furious with myself for scaling back from 30 shorts to a mere 24, but brilliant chartist and idiot trader is just kinda my style.
Read it. Know it. Live it.
