Supernovice

Ok fair- then where's my 5-10% pullback? You called for a pullback in February/March- Major Indexes weathered the rising rate 'storm' just fine. I'm not picking a fight w/ you...it was more jbenedet's post that set me off. Which you nailed a response to so...? No beef here. The reason I brought your guy up...he tweeted recently and it made the rounds in my circle. He was talking about VIX term structure- and viewed it as a conspiracy that it fell on Fridays and rose on Mondays. Which- is actually a feature not a bug and implicit in the math behind it. But that wouldn't generate clicks from the people that follow that him. Either way I got quite the laugh, and he laid bare his charlatan ways for all to see.

Ah yes- the most important bearish event since the pandemic and major indexes are down *checks notes* less than 1%. I know you guys have a disaster fetish but this is beyond parody. To finish my Bingo card all I need is a quote tweet from ‘northmantrader’ or whoever. C’mon guys.

I really just got tired of our self appointed philosopher in chief ruminating on how the world is doomed because people (not him) are too dumb to interpret the news for themselves, blaming smart phones for the coming apocalypse etc etc ad nauseam. While he clearly only read the headline, not sure he even skimmed the article but if so clearly didn’t understand it, and failed to contextualize the source (Barron’s). But none of that stopped him from posting 5000 words on the subject. That’s why I stepped on his throat there- not to defend pharma as a whole.

What do you not understand about the words "INVESTOR CALL"?? No one is saying they are unbiased- holy crap. Get your news from a source other than Barron's I don't know what to tell you.

I was on the call...it was very vanilla nothing we don't already know. I don't get why everyone's up in arms about it? An investor call...with a summary published in Barron's? Yes- this was about the future of the company. Yes that means generating profits. Overall- positive for humanity- 2-3 months production time for a variant. So if (when) a new variant pops up with immuno-escape capabilities (incorrect phrasing) we can all still go about our lives and nothing changes. Net positive.

They bull trapped AMC at 10:05 est and it looks like sh*t now. set your stop losses.

Linked for your viewing pleasure.

wow, what a gut punch. I feel terribly for his parents and loved ones. He will certainly be missed.

Evergreen.

seems appropriate on a day like today:

He threatened to call the cops on me like a month or two ago. Lol. I wouldn’t sweat it. trolls gunna troll.

So exactly like I said- next to none...20? and how much AUM dedicated to cryptos? I'm not trying to pick a fight here. I just know this space extremely extremely well. My pt was...there is not institutional money here as a backstop to stop this slide.

There is very very very little institutional money in crypto. Like next to none. just checking in and saw the sell off accelerating as we near the open. Has me thinking...maybe I should finally complete the KYC process so I can buy some of this crap in the next 24-48 hours.

Positive Spin- the amount of crypto talk in general public discourse is about to nose dive.

Difference between the expected price of a trade and what you are actually able to execute at. 12% is outrageous.

ya ok- we'll see.

Tough day for the anti-vax, anti-mask crowd.

I mean I guess some of it is yolo $$. But I fear most isn’t. In January you had chamath and even like portnoy telling people to stick it to the hedge funds and buy amc, bb, gme etc. How’d that work out for most of those people following- not great. There’s a similar cultish feel to crypto where by holding it you’re making some sort of statement. So ya I imagine the pain/ vol cuts across all sorts of socioeconomic levels and isn’t viewed as gambling by most. Tho it should be.

I was behind facetious...but seriously how do people pedaling crypto as a way forward sleep at night after seeing the price action today/tonight. I don’t agree with Phin much, but he’s right...don’t believe anything anyone says publicly...especially hedge fund managers and apparently as in this case, snake oil salesmen as well. i think it’s much more about ESG and qualification for those indexes...big money there and if Tesla was excluded...yikes. Especially for that house of cards.

Let’s get back on topic...BTC and really the whole crypto complex- knifing at the moment down 10-20%. We had the inflation print this am...followed by this. So what exactly is the thesis and don’t say ‘blockchain’. I can’t buy things with it, it’s not a hedge against inflation, and regression to the S&P isn’t compelling enough to be viewed as an uncorrelated asset.

@N. OF PIKE I know you’re a technical analysis guy... been watching a theme last 5 days of individual names getting knifed below support and immediately ripped higher. Then it happened to me today- had a stop well below what I deemed to be very good support (was looking for a retest and then breakout but had a meeting and couldn’t watch it). It ripped lower breaking two levels and then 10 ticks later up 5 levels. You seeing anything thematically similar?

How do you know someone went to Cornell? They tell you. I’ll be here all week, tip your waitress.

We might be witnessing the biggest labor reorganization in history. All by way of ‘closed for the day’ signs in fast food restaurant windows. The ramifications will be fascinating to watch.

My evergreen response to anyone that ever says anything about ‘the fed’ courtesy of the latest Tyro quarterly

Can you explain to me the actual transactions taking place? And if you buy on RH is it the same or is it different than a regular crypto exchange? I understand it as: USD->ETH->DOGE (or whatever) and out is likewise DOGE->ETH-> USD. Is that really what happens when you transact?