Happy Juneteenth Eve, everyone. I’m not sure how much of your attention I’m going to get, what with the preparations and festivities and festoonery and whatnot, but perhaps a few of you are still trading, in spite of the big holiday looming.
Equity futures, such as the /ES below, have recovered a portion of the drop we’ve witnessed over the prior two days.
The impetus for this big bounce, ostensibly, is the signing of the Memorandum of Surrender or the Treaty of Wonderfulness or whatever they’ve decided to call it. I shall continue to honor my pledge, which I’ve managed to adhere to with superhuman tenacity, to not comment on politics until after the midterms, but I found this comparison table interesting.
Suffice it to say that, as an amateur historian, I believe the fact this document was sign at Versailles to be impossibly poignant and prescient.
The small caps /RTY continues to play hopscotch with its trendline. I realize equities are up big across the board, but do not be surprised at a weak close today.
As for Bitcoin, I had originally planned to stay away until it got above $70,000, but perhaps it doesn’t even have that much strength. I shorted it again yesterday. So far, so good.
Oh, and as for SpaceX, when it reached almost $230 in overnight trading, I shot my mouth off about how we had seen “the top“, and tastylive broadcast that information widely. I was sure I was about to wind up with egg all over my face, but it’s down almost 20% since that peak, so……….another victory for Tim noticing when the world has gone clinically psychotic.
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