the kook zone
market vibes
December 13 …)
“Then one foggy Christmas Eve, Santa came to say”…(Sorry but I just can’t get enough of Larsen lately.)
In the news
Jeff Bezos has donated $1 million to the Trump inauguration fund. Fwiw, the word "crony" comes from the Greek word khronios, which means "long-lasting". The slang originated in Shakespeare’s day among students in England. Not that I mean anything by that. just sayin’…
Apparently, the odds for a rate cut are at 98% even after the PPI yesterday, according to posts on X. At 50 to 1, I’d take that bet just because. Trafi’s profit dropped by a billion due to misconduct in Mongolia. A mere bag of shells.
In energy news, Exxon is betting that AI’s need for speed will open up a bigger market for gas-fired plants. They say it can build a gas plant with carbon capture technology relatively quickly, perhaps in five years, in part because the plants would be co-located with data centers and, crucially, not connected to the wider grid (nuclear plants must have a grid connection for safety reasons). Being a standalone plant that doesn’t supply the grid would avoid lengthy regulatory and interconnection delays, as well as potentially long waits for grid hardware such as transformers.
Exxon is well under it’s 200 D MA. If I were sitting on Santa’s knee I might ask him for some shares of one the the finest companies in America.
In markets,
NDX is poised to open on an ATH, the Dow is in the bargain bin, S&Ps are nicely priced. This is probaly the best iteration of a trend in force on the board; new highs in all fractal samples, ending the week with the holidays ahead.
It’s getting hard to tell the difference betwen CME Yen futures (chart below) and CBOT March 30 year bond futures. Coinky-dink?
March bonds. You decide.
On to metals, other markets and a few stocking stuffers to consider when doing some year end p’tking.
