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What’s going on with the rental company Avis Budget Group is absolutely bananas. As you can plainly see, this sucker goes up every single day, usually by a double-digit percent. Rough as this month has been, I can at least take solace in the fact I’ve never tasted this bear cyanide.
It’s comforting to see that sanity still prevails in some corners of Earth.
So, was that the sign? Allbirds? Seriously?
As a reminder, the maker of wool shoes (can you imagine the smell?) pivoted from selling the aforementioned shoes to becoming a company that provides Nvidia-powered servers to AI companies.
Makes sense, right?
Anyway, BIRD is down over 50% from yesterday at this exact same time.
On the heels of TEN “up” days in a row, the equity markets are at the moment drifting aimlessly. The /ES has gone absolutely nowhere all night, and before the opening bell, the /ES, /NQ, /RTY, and /YM are a mixed bag of a little up or a little down.
Since the market is in a very weird place right now, let’s dust off the pairs chart and see what long-term movements they are suggestion.
First we have the NASDAQ Composite versus Silver, which tells the same story as before: bearish equities, bullish precious.
