Good morning, everyone. You’ll be pleased to know that Slope won’t be participating in the Black Friday nonsense that you’ll be buried by today (bank websites and airline home pages notwithstanding). It’s a half day, and I wanted to share a few charts. Today is a travel day for me, so I’ll be extra-quiet this afternoon, but I’ll hit you with my normal firehose of content starting Saturday morning and last through Christmas. Promise!
The /ES futures are trying to push their way through minor resistance at this point. I think there’s about twelve people trading today, so action so far has been lackluster.
The /NQ seems to be waffling a bit. Indeed, equity futures across the board are pretty much up one-fifth of a percent, so it’s a snoozefest thus far.
I am pleased to report, however, that palladium (far and away my biggest position) continues to strengthen. Its futures are up about $30 or 2% at this point, which is progress.
And PALL Itself, the vehicle I’m using for the trade, has “escaped” its lower range. Beating $135 is the next step and, even more important, closing that price gap. I am truly hoping this is a long-term, triple-digit return investment. It’s up about 30% from when I started obsessing over it.
My other big, long position, Rivian (RIVN) is up about 5%. For years now, Rivian has been doing fake-outs, so I hope this isn’t another one, but I definitely am enjoying the (electric) ride so far.
What matters more than anything else, oddly, is Bitcoin. I’m going to keep saying it: get to $98,000, and everything with a ticker symbol is at risk. It sounds nuts, but I stand by my nuttiness.
