Well, it’s finally done. SpaceX is trading, up about 20% at the moment. I dumped my entire position right from the get-go. Enjoy the ride, everyone. Now we can all get back to work.
Launch Achieved!
Golden Triangle
Precious metals rallied strong yesterday based on the news that we beat Iran for the 39th time in the past couple of months. We are very close to a price gap, which, given the huge right triangle top, could be a good entry point for new shorts.
Other Rockets Blowing Up
SpaceX isn’t even trading yet, but all the other rocket companies that have been trading like crazy for months merely because SpaceX didn’t exist (and served as a proxy for satisfying Elon-boners) are puking.
Undefined Risk
I was pretty excited to find out how many SPCX shares I was going to get, but right now it’s just moments until the opening bell and they STILL haven’t told me. I’ve requested 1,000 (500 each in two accounts) but this is still TBD.
I have removed ALL my stop loss orders until the market opens so I can get a sense of the market. It’s insane to me that the market has gobbled up the incredibly (and I mean INCREDIBLY) obvious lie about the peace deal yesterday.
I am now totally convinced that the citizens of the United States love one thing more than anything else, and that is being lied to. They cannot get enough of it.
Good luck today. It is going to be clinically insane.
Wealth Inequality Email
Since today features the biggest IPO of all time, which will in turn create the first TRILLIONAIRE of all time, wealth inequality seems like a pretty reasonable topic. I am prompted to do this post because of a long email I received on Thursday morning. It was a friendly email from a reader who took some exception as to what he perceived was my disposition toward homelessness. It is a thoughtful and well-written message, and beneath it I will share with you my reply.
The sender’s email is being shared here with his express permission (otherwise I would not be doing this post).
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