Well, you wanted volatility, now bathe in it. The Dow is off to a raucous start, higher by 100 whole points. Both the NASDAQ and SPY are doing very little — taking a break on a genteel Friday morning.
I’ll be re-jiggering my portfolio today, after some analysis. I have a busy morning ahead of me — so don’t bother me with any inane questions. Oil is bouncing today — because Dennis Gartman said it was going to zero (he literally said that).
The President of the United States is mentally ill, according to many on the left who are angling to have him removed from office. And, the President of S. Korea is in DC to discuss how best to survive a nuclear war with N. Korea.
Also, and I think this is noteworthy, Nike is shrply higher after announcing they’ve bent the knee to Amazon. We are well on our way towards total and complete annihilation of the shopping mall.
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Where do the Kids hang out these days if not the Mall?
BTC crashing folks! Dropped 19%. Lowest percentage market cap in history, decline from 40% to 35% market share in last few minutes.
BTC all over the place. From 2500 to 2000 back to 2450 now down to 2200 in the space of 20 min. Something strange going on.
BTC movement may have been related to Mark Cuban remarks. Plans to divest from BTC. Price more-or-less recovered now – back to $2540. Talk about volatility.
This is a very illiquid market. It takes nothing to move it around. And that will be the case for as long as gamblers think of P/L in fiat. Cryptos can be goosed by CB’s at no cost and then collapsed by selling at very low price. CB’s will use this tactic to manufacture severe swings to scare ppl out of this market while peddling their (((own))) stable global digital currency.
If the HFT boys get into this market and connect to each other? Perfect storm.