Crude is flat, but world markets are gunning higher. Imagine my shock.
S&P futures are +9, Nasdaq +33 and Dow +94, on the eve before the eve of National Festival Day. It’s also just 3 days before National Shopping Day, where all of the Americans head out into the cold to buy complete bullshit for their Coca-Cola sponsored holiday dubbed Christmas.
Meanwhile, the US yield curve continues to flatten, now just 60bps. I’ve read 10 different reasons why this is happening — and agree with none of them. The only reason why the yield curve should flatten is due to a weakening economy. Does it look like the economy is weakening? No. So who knows what’s going on.
All that you need to know is that the Turkey Gods are here, richly and profusely pouring copious amounts of thick gravy down the gullets of Wall Streeters. Feelings and expectations are especially higher, even amongst the disaffected millennial class, who are no longer cast out into the unforgiving cold — because they too are now making grand sums of money in wanton schemes related to crypto-currencies. That market is now worth $240 billion, which is nice and large, but we’d like it to get much bigger — so that it could become a giant snare — trapping a trillion dollars into a venue that’s destined for the fires.
I do expect to get donkey punched with great vigor and tenacity, yet again, in my UVXY — which is, more or less, a running joke now. All of the great and virtuous things about VIX products became meaningless drivel many years ago. Now they’re just lobster cages filled with refuse.
Nonetheless, I have other “irons in the fire” and my quantitative strategies will do wonderful today. I’ll probably celebrate their success this evening over a fine bottle of champagne, preparing the menu for National Festival Day.
News will be skipped over today, as I’ve merely glanced at it myself through the corner of my eyes. It’s irrelevant on this eve before the eve of Thanksgiving.If you enjoy the content at iBankCoin, please follow us on Twitter