The 440% price increase for Avis Budget (CAR) in the span of a few weeks is one of those things they’ll be writing about in financial history books decades from now.
This is just………..bonkers.
When Will It Stall?
A Perfect Example
As a real-life example of a missed traded due to being practically hamstrung with the lunacy of this market, may I present to you Netflix:
Battered Into Submission
It’s been a rough six days. I’m not just talking about the market. I’m also referencing a technical issue I’ve been grappling with which has involved my most intense problem-solving skills. Between that and this insane market, I’m ready to grab my knees, sit in a corner, and rock back and forth.
Yet I suppose I’ll just type this post instead.
Betraying an Old Friend
Remember how crazy I was about Platinum last year? I think this fella’s about to take a hard turn lower.
Schrodinger’s Strait
In my post on Tuesday 31st March I was saying that the likely best thing that could happen in the Iran War was that the US declares victory and that the war has ended regardless of any input from Iran. This would avoid further escalation and the major economic shock to the world economy that would likely result from longer term disruption to the Strait of Hormuz and likely also the Bab El-Mandeb Strait.
In my post on Wednesday 8th April after Trump declared a ceasefire and accepted talks on the basis of Iran’s ten point plan I posted charts showing bottoming patterns on SPX, QQQ, DIA and IWM that had broken up and those all made their targets last week, with new all time highs on SPX, QQQ and IWM on the back of a ceasefire in Lebanon and numerous statements last week suggesting that a peace deal was close.
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