November marks the beginning of the stretch run that eventually ends with last call by the virtual bar – the finish to the trading year. Speaking of virtual things, what the heck is this Bitcoin that everyone is talking about? Where can I get it? Does it come in a size 10? Bitcoin, Bitcoin, Bitcoin. Marsha, Marsha Marsha.
The kids – and some grown-ups – have gone gonzo for this virtual coin that has made common folks like you and me gazzilionairs. Just the other day my mom asked for a quote on Litecoin. Is this the run on the tulips part 22?
If it sounds like I’m a little bitter about missing this parade, well, I am. If I knew I could turn $1000 into a milly, sheeeet, I would have signed on the dotted line. Maybe I can find someone on social media to help me catch the next one. I just have to ask… was trading stocks 9:30am to 4pm too easy? Did people just need a bigger challenge? Ok, ok, I’m still bitter.
Let’s move on. Besides the Bitcoin frenzy, November was also the flight to quality. There is no more valuable asset class than watching a stock going from $3 to $25 on 30k shares. Yes, there were $20 bills falling from the sky. Am I bitter? Hell yes, I am. Where is my low float love?
Anyway, on to the boring stuff. All the major benchmarks must be on PED’s. That’s the only way to explain what we are seeing. Melting up I understand. But a rocket up is something that the biggest permabull is having a hard time wrapping his head around. Am I bitter? Nope, not this time.
We saw some great two-way action in November. As much as the indexes are up, you would have never thought that there was so much value on the short side as well. Most of the days have been exaggerated and if you had the right process – #ps60theory (*plug plug*) – you too were complaining with two loaves of bread under each arm. Allegedly.
Now that Turkey Day is in our rearview mirror and some of us are 5 pounds heavier – no names need be mentioned – it’s time to concentrate on the big guy in the red suit. If my calculations are correct and we keep at the rate that we’re going, DJIA should be at 84321 by the end of the year. All sarcasm aside, it’s been a crazy year. Bitcoin, Rocketman, and the Donald. And we’ve still got another month of mouse clicking to do.
What will December bring?