The CPI came in hot at 6.2% for the month, highest in 30 yrs. What this means is, retards are out buying gold thinking the dollar will collapse. Remarkably, my BITO position was down pre market and shot higher thanks to a hockey stick run in BTC on this inflation news. That’s right, traders are treating BTC as a store of value.
I got caught flat footed at the open in several bad earnings plays. What can I do but hope? Losses were moderate at -40bps and within minutes ballooned to -2%. I have since stabilized, sold off the fuckers and bought some better stuff, and now I wait.
The market has a very funny tone to it and I’d be lying if I didn’t tell you I’m employing hope in my investment equation today. On paper, the gains for November have already been enjoyed. Anything more than this is gravy.
I like BTC for a push above $70k, ETH $5k. Mixed feelings on gold, moderately bullish on stocks.
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Bond yields on a cocaine fueled run higher as bonds burn to ashes beneath them.
People don’t buy bond YIELDS. The buy BONDS and lose their ass
as bond yields RISE (not for the bonds they OWN – because they already
bought THEIR bonds at a specified yield). Their bond values go DOWN.as
the yields of bonds in general are rising..
Yes I understand how it all works.
That 30 year auction was bad but the 5 year is looking worse.
And people are trying to buy the dip. You poor stupid beautiful bastards, you are not meant long for this world.