check please
market vibes
November 13…)
“Come with me if you want to live”
In the news
The IEA, a Paris based energy think tank sees a bullish future for nat gas in a report released yesterday.
The obvious trade is anything and everything related to generation and transmission.
In other energy news….Peace by any means is bearish for oil. The latest Zelenskyy scandal is aging fairly well based on an Owen Matthews article in the UK Spectator Matthews was Newsweek’s Moscow Bureau Chief in the Y2K decade and a Contributing Editor until 2020. The Spectator is a British weekly magazine founded in 1828 and widely regarded as a high-quality right-of-center publication. Despite the bias, it scores well on factual reporting, often rated as “mostly factual” or high for credibility, making it a reputable source for information when cross-referenced with others according to mediabiasfactcheck.com.
In financial news…this daily reminder of just how far over their skies a handful of equities truly are... And… Michael Burry asks for his check, according to a note to investors from Scion via@Barchat on X.
In the markets
The chart below is a weekly of CME Bitcoin divided by the price of Comex gold in continuous roll adjusted data indicating clearly the relative appreciation of gold rather than a decline in bitcoin. With exposure to each just a mouse click away, disintermediate flows from IBIT to GLD and SLV are the US voices in the global bull run in precious metals.
Neither offers a return and both share a high cost of carry. With all of the hair-pulling about a bubble in stocks, I thought it might be fair (if not predictive) to remind the reader we are in an era of “equal opportunity” bubbles.
Moving on to the things we trade…
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