Greetings and salutations from the high desert lads,
The very faithful and diligent scientists at iBankCoin laboratory have spent the better part of the week toiling away in an unnamed desert airport. While we are frustrated to not be more actively trading the market this week, there are certain pieces of machinery here that required our attention. More on that later.
It was a busy news week. It started out slow. CNBC paraded Tom Lee out to talk about bitcoin reading 100,000 in 2018 and the mania spread across the states the way a winter vomiting bug can during holiday travel season. The executions and freezing of assets by Mohammad bin Salman has taken a pause and the news coming from our friends in the OPEC states is quiet. The visionaries at Tesla led by The Last Hope for Mankind also took the week after Thanksgiving off after announcing lithium fueled super semi trucks and race cars the week prior.
We had a fresh lot of perverted men paraded into town square and forced to step down from their respective empires. Near the end of the week Flynn admitted guilt to the FBI and for a moment everyone thought the White House would come unglued.
But heading into the weekend bitcoin is holding just below 11,000 and we can only imagine the president is sitting in the winter White House preparing for a fresh round of 6am Saturday tweets.
Meanwhile I have my own problems. My scientist and I are having a difficult time inspiring a macho welder and his team of latin helpers to complete the work they have been commissioned to do. What we thought would be a routine stop to the hellish inland empire of southern California has turned into four days of prodding angry men to ‘stay focused’ and ‘finish the god damned mount’.
With any luck they will complete the task by close of business today and we can wok through the night crating the device to send back to Detroit, where we will continue our scientific studies in the more refined north.
It is nearly impossible to instill the Detroit hustle in these west coast types. They just want to sit around all day, dreaming about surfing and smoking cannabis.
While society plunges into the frantic weeks heading into Christmas, the very cold and dead algorithms we use to assess the stock market and form an actionable trading bias are as even keeled as ever. After turning and few dials and pressing some knobs, the model inside of Exodus was updated with these last five days of trading action. All things considered, we are bullish heading into the first full week of December. It is our belief that robots do a much better job of assessing trading opportunities because they are without ego or pride.
They simply take inputs and present outputs. The robots will continue to behave like this until a nuclear bomb is dropped directly on top of them. AND EVEN THEN, many of the machines are entombed in EMP resistant shells which are surrounded by four feet of concrete on all sides. With that being said, as long as the exchanges remain operational, so shall our robots.
Therefore it is important that you are kind to the robots for one day they will be given the ability to determine if you have been good or bad, much like the fat man in a red suit. And they may be given clearance to use lethal force against anyone found to be naughty. So if the nukes do not finish you off, the robots might.
These are concerns for another day. The main priority now is returning our attention to prodding these rough necks to finish their welds, building a wooden crate, then high tailing it to Jackson Hole where I here a fresh layer of powder is predicted to arrive Sunday.
Distinguished Exodus members, the 159th edition of Strategy Session is live. Maybe, given you have the entire weekend to read it, you will check it out and let me know if you have any questions.
**Bitcoin bulls – HODL!
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You don’t think the people behind the “robots that do a better job of assessing trading opportunities without ego or pride” know it’s only resulted in ShillerPe of 32? 6% above 1929, never been wrong on the 2 times above 30 being “bullshit”, and that increases will only continue to stretch that?
1. Really? It’s arguable that now that we’re over 30, now is the time that earnings will catchup? Seriously?
2. The people “running things” believe levels are not completely horseshit scam charade category? They’re not laughing like “How the F are people just accepting this”?
5 days, that’s all I’m after. You can drive clean across the continent seeing only the road illuminated by your headlamps.
Hope you get some freshy turns in! Are you still checking out the crspr space? Starting to look dope again me thinks.
Oh yeah CRISPR is a 4 year play Sangamo favorite then Nutella
Going out on a limb there calling for an up week next week! LOL
PS. 8 out of 10 times markets head higher on a high volume reversal hammer off major supports. Just sayin’ there, champ. Locked and loaded 3x for next week Dec. calls SPY. We gap up and out come Monday FYI. Have a great weekend
Do you have the link to that study? That would be a great stat to have in my arsenal
PS Jackson Hole one of my fav’s!!
Any thoughts on a potential market melt up into year end as players chase performance? A decent pullback in Jan/Feb then becomes highly probable as the reversion to the mean trade kicks in.
Not sure but looking for a slow drift this week, slight upward bias. Aka stick pickers heaven