I was going to short the fuck out of the tape because I really really want the market to collapse. But then I thought twice about it and conjured up all recent dips and how THEY mechanically stop markets from careening lower when needed most, so then I covered my shorts and kept a 70% long book, 30% cash.
My positions are moderate and if we bounce tomorrow, I won’t make a huge amount of money — but perhaps enough to erase todays -0.5% decline. I rarely get taken to the woodshed in any large drawdowns, since I play both long and short — as a professional risk manager should. If I was ONLY bullish, I’d be dead right about now.
Much of what we are seeing in this tape can be viewed cathartically via the Elon Musk twitter feed, who is absolutely losing it. Here are a few examples.
Apple has mostly stopped advertising on Twitter. Do they hate free speech in America?
— Elon Musk (@elonmusk) November 28, 2022
What’s going on here @tim_cook?
— Elon Musk (@elonmusk) November 28, 2022
Did you know Apple puts a secret 30% tax on everything you buy through their App Store? https://t.co/LGkPZ4EYcz
— Elon Musk (@elonmusk) November 28, 2022
Apple should publish all censorship actions it has taken that affect its customers
— Elon Musk (@elonmusk) November 28, 2022
— Elon Musk (@elonmusk) November 28, 2022
My bedside table pic.twitter.com/sIdRYJcLTK
— Elon Musk (@elonmusk) November 28, 2022
I’d be lying if I wasn’t entertained and hooked into the whole “FUCK THE ESTABLISHMENT” cunts vibe Elon is giving out. But then I remember he’s the wealthiest man in America and, like Trump, enjoys hearing himself breathe. I won’t be fooled into advocating for Musk — but will secretly enjoy and support him from the rafters. It’s important to have balance in all things and even though Musk has short comings, like all of you, he is serving a purpose to expose his ilk — which is partly demoralizing, partly invigorating. I haven’t made a final decision on this chapter in The Ending of Pax Americana; but it’s damned well entertaining. That’s for sure.
Ok, let’s hope for some upside tomorrow, so that I can sell and profit and then sink lower when I throw some shorts back on.
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Musk is an adept and skilled political weathervane and I do enjoy which way the wind is pointing.
A leader is a person who finds a parade and gets in front of it.
Mao
Does anyone have thoughts on Elon Musk creating a payment system, thus explaining possible extra downside for $pypl and $sq?
The people who run the place, after decades of being able to easily program Americans to do great evil, may finally see push-back as the dollar collapse exacts a price – and robs them of their ability to buy our complacency with fiat. I think they know this, and they have set themselves up with the tools to bring the hammer down. I doubt they go quietly.
Musk is an ass clown as you suggest. He just won’t STFU. Funniest is how many people give a shit about Twitter. World was better when losers spent time on pornhub.