Because of the recent rally in SHITCOINS, we’re seeing immense interest in NVDA — because millennials are firing up the olde crypto puzzle decoding machines in Moms basement, in an effort to mine fractions of a fraction of a bitcoin. These machines run very hot, and also draw an immense amount of energy — and could cause blackouts for entire neighborhoods. All of this is reason enough to arrest these people and commit them to asylums. But it gets worse.
They also leverage their brokerage accounts and buy shares of NVDA — based on the idea that GPUs will be flying off the shelves, now that their lambo making machines are back up and running again. This is retarded thinking.
Mysteriously, shares of NVDA just won’t buckle or bend these days, perhaps reminiscing of the days when the company actually had year over year revenue growth. Nowadays, the company bleeds out revenues and then offers promises of resiliency — thanks to the pipe dream of AI and how they’re so wonderfully intertwined with having humans crash their cars into tractor trailers whilst drinking a martini with two hands.
In short, when NVDA cracks lower, and believe me it will, then you will see a deluge of selling — ironically due to AI driven Quant selling, at which point the semi index will crash asunder and we can crack on with the summertime correction that seems to harangue us each and every year.
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I was so tempted to buy GDX yesterday on the exuberance of gold by The Market’s Lion (Le Fly). Glad I kept my cold bucket of water handy. What of GDX? What of the poor GDX?
Smarter traders went tactical and ditched the ETFs for miners. Perhaps you should subscribe to Exodus to find out?
No doubt the most favored reside in the Pelican room and the bounty that flows from it cannot be denied.
BLL …fresh new break higher. Sweetest long term chart. Hot new technology that lets you’re great grandmother keep peaches for the winter.
Looking good
Anybody buying gold?
Was WORK IPO the top for software names? Nasty pullbacks all around.
Cryptos, gold, treasuries, and stocks are all near highs for the year, and the FED is still looking for inflation. As much as Congress has been screweing over the bottom 70%, it’s nothing comapred to the FED and their pro-asset inflation policies. That is the big problem.
The working class was keeping pace with the investement classe until the 80s, when trickle down become the new saying and the FED dropped rates for 40 years. Democrats think that the problem is that middle-calss wages are too low, but Republicans argue that if you raise working-class wages artificially, jobs will leave through autoamtion or through exporting them to cheaper countries. This is true. So the real problem isn’t that wokring class wages are too low, it is that investement return (juiced by the FED) is too high, artifically increasing the highest household expenditure: housing costs.
The solution to bring workign calss and investemetn calss incomes closer together is simple: capitalistic, free-market asset deflation. Never going to happen until the FED loses control.
Also, sold most of my TVIX (+9%). I think the VIX will hit at least 17, but TVIX is a trade vehcile (only for short term investing) due to it’s high expenses so I took some profits.