bada bing
market vibes
September 24…)
“People only see what you allow them to see.” Tony Soprano
No algo sensitive data releases today. EIA petroleum data at 10:30, draws in crude, an offsetting increase in distillates, and small draws in mogas expected.
In the news
Yesterday’s news is today’s news, but deconstructed. Powell said the stock market is overvalued in Rhode Island and Trump called European leaders “scammers.” He said Ukraine can win the war but Europe has to pay for it. Those words are beginning to sink in.The UN deliberately shutting off the escalator and the teleprompter after tweeting they were going to do it in advance, shows how childish and shallow the institution has become. I’d be annoyed as well.
Tether is looking to raise 20 billion at a 500 billion valuation. I have to laugh. That’s like Tony Soprano doing an IPO for the Bada Bing.
In the markets
From a high level the excitement surrounding new highs in gold yesterday was a lot bigger than its gains. It’s a little disappointing that prices didn’t extend the range higher after a promising opening and it was disappointing that preliminary OI was unchanged on a fairly high volume day. At any rate, let’s keep going…
