All of you fuckers in electricity stocks are getting 1.2 jigawatts to your heads today, as the greatest, dumbest, melt up of all time–unwinds.
The utes are off by 1.5%. Finally, valuation means something.
According to Exodus, the median P/S and PE ratios are way out of wack for the utes, trading well above levels one would deem ‘appropriate.’
On the Bitcoin side, who the fuck knows why it’s chasing silver and crude down the drain. As of right now, it’s down 8.2%.
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Heard an interesting podcast on NPR last week, that said there was division with bitcoin clearing houses on whether to make changes to it so that it could handle more volume, apparently it has limits to how much can be transferred at a given time. Sometimes it may take days to make a transfer.
Did you lighten up your gold positions today?
Dumped my gold and silver yesterday on the OB signals and the OA post. Starting to slowly buy back the positions at lower levels today. Just tactical dancing about. 70% cash.
Waiting. Watching. $SPXL carbine at the ready with much ammo to fire.
Interesting that junk bonds (HYK, JNK) are still trading well, near YTD highs. However, momentum divergences seems to indicate that they are losing gas.
Of course, the ECB is still buying, AFAIK
The Pershing Square boys don’t seem to be getting much juice out of whatever gambit was intended to pump up VRX. The electric chair awaits them.