Yes.
The way these things work follows a strict script.
Stage 1: rumor mill it. Only a few pay attention and cry Chicken Little
Stage 2: It’s happening. Main stream news discusses it incessantly, increasing discussion amongst conspiracy theorist of chicken vs egg current simulation mode.
Stage 3: RESCUED! But not really. But RESCUED. Market short squeezes higher.
Stage 4: Oh no, it’s not over. Panic doubles.
Stage 5: Crisis.
Stage 6: Bailout.
Stage 7: Lift off, pretend it never happened.
I’d say we’re at stage 3 now. I do not have a timeline on when the Chinese debt bubble will re-emerge, but it’s not over.
That being said, we had a strong oversold bounce and we might gap higher again tomorrow, especially since the last 3-4hours of the day was sideways poorly traded slop. I’d bet many a shorts edge-lorded in hoping for some sort of fuckery tonight. I doubt you’ll get that and I doubt the Chinese are eager to create credit drama.
Ergo, we trade higher in the morning.
If you enjoy the content at iBankCoin, please follow us on Twitter
If the Fed can’t keep interest rates under control there is a great deal to fear. Even a big one-day move is proof of nothing but not what I wanted to see.
I expect chop in the next week or two.
Nice timeline BTW.
If I have to own an interest-bearing version of a currency issued by a country without a functioning legislature ( been that way for a number of years), maybe I want more than ~1.5%
‘edge-lorded’? can’t be religious no one here is. where is the ibankcoin dictionary nowdays?
I think it means I’m in charge.
The man is jesus-talented in English also, not just stocks. and we don’t see that half often enough anymore.
I’m not even interested in Enron v2.0. Keep eyes on GDP rolling over while natural gas and crude oil double and triple. While supply lines shut down, market shelves run bare, input commodities are ramping higher and labor shortages keep businesses from fixing the problems.
People want to talk abput Evergrande because it’s a comfortable problem. We know how to fix this. We know how to paper over it.
You can’t paper over the supply chain collapsing. You have to live through it to the end to rebuild.
Nike revenue miss. NKE shares dealt instant death. -4% so far.
Yet still has a 34x PE ratio. Very smart. Company that sells athletic apparel almost exclusively to men. Spends 100% of its ad revenue antagonizing men, wishing they’d cut their own dicks off. Solid business model here.
Bright future for NKE.
Oh look DE. Great American company. Been around forever. Established business. No hope for major growth. Hmmm…I know, 17x PE ratio!
What we’ve got going on here, not this week or this month
but this decade is
separation of state and money.
They will not go quietly.
https://twitter.com/satoshibaggins/status/1440742692703637505?s=20