Denver approved a measure to LEGALIZE SHITBULLS again, which means more dead kids. Out in Oregon, they all but legalized all drugs: crack, meth, cocaine etc. Good times. Nationally, the election is still in limbo; but I suspect SUPER JOE is going to end up taking the prize. I understand there are billions of votes to be found in Philly, so it’s more or less over.
The curse of John McCain cast a gloomy pall over Trump in Arizona, as that state flipped to blue. Surprisingly, Trump improved with latino and black men +4 over 2016, but lost ground amongst white men -5, which could only mean one thing: he’s a fucking racist and white men are somehow pandering to black men like Joe Biden.
It’s all very exhausting and I get how “your guy” didn’t do as good as you thought last night. No one really believed the fucking polls. America is very much divided and both sides want the other side dead. I look forward to someday soon leaving this stupid place and frolicking amidst the green fields of Ireland, caring only about my potato crop.
I liquidated my entire trading account now for two reasons.
1. The election is not decided. Wall Street HATES uncertainty.
2. RATES ARE FUCKING CRASHING.
The 10yr is down 11bps to 0.76%, which tells me smart money is fleeing for safe harbor. Be mindful of this shift and do not let your emotions interfere with good business sense.
My Quant is higher by 200bps and my new long term dollar cost avg portfolio is +500bps, so I am having a good day. In my trading I had some RUN, a Biden play, and that got hit. Overall, I closed out my trading +50bps. I might trade small throughout the day to boost those returns.
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SUPER JOE, the blackest among the blackest of men.
How can you have a simultaneous flight to safety (10yr -11 bps) AND risk (Dow +600) ???
Answer: printed money.
After many years of trading I can usually figure most things out, no matter how irrational.
I went into oil stocks last week hoping to sell into strength after the election.
I have several ETFs, a couple of drillers and a couple of integrated majors (FENY,XLE).
I figured a Biden win would knock them down but I’m up a bunch from last week so I figured what the heck, let it ride.
So drillers are down (except my XOP- unchanged after a crap start) but the FENY,XLE is rallying after a down start.
Why is that? Anybody? Bueller? Bueller?
Sign of strength and hold on?
Yep that looks correct now. The mail in ballots are all super blue and the cities – where the most shady election process exist – are sandbagging waiting to know the number to beat.
Big picture though, this is a bad win for Dems. We’re in the midst of a pandemic running against an undisciplined candidate and they’re struggling to drag their candidate over the finish line. The Senate looks safe and the GOP is picking up House seats. And all that for an asinine amount of money thrown into these races. The Left and Liberals are already bickering.
The only thing I know is that this is a hot mess.
The system is busted.
There should be No mail in ballots allowed, just absentee ballots like it had been for years.
Then, one week of early voting at the polls and make the Presidential election every four years a National Holiday.
Mail in ballots are a hot mess. The chain of custody is all over the place.
All that matters at this point is that Trump loses. Family squabbles can be resolved. Hopefully the soul of our country can be saved but hard to be optimistic when there are so many dumb as fuck Q worshipping and conspiracy minded Americans.
Anyone who does not believe that people conspire hasn’t been paying attention. The problem is people REACTING one party’s bad behavior and BS by adopting the other team’s BS.
Communist
Jesus will you people look in a mirror.