evening wrap
market vibes
11/11/2024
“How about if I sleep a little longer and forget all this nonsense.” Franz Kafka
December Bitcoin futures rallied 13% on moderate volume and rising OI to trade a record high $87,445. There is nothing else to say until it find a new balance. That could be anywhere.
Gold on the Comex fell 2.5% on high volume, disambiguating any doubts about a correlation with crypto. Note to self…
I wrote about some of the perilous differences between an ETF and its underlying benchmark in a piece called Pizza Day on October 20. I said an ETF like GLD (chart below), one of the largest and most reputable of its kind, has very few of the characteristics of gold (chart above) like tradable access and liquidity when you need it…. Note to all…
As for everything else it was a day of Ms. Nicks and “you can go own way”…
