It’s an idea whose time has come. And the truth is that you already know about it.
Everyone remember Gamestop (GME)?
And AMC (AMC)? “Mr. X” is still bullish on AMC by the way…
Both were up yesterday, with GME rising more than 8.3% by market close… and it was still going in after-hours.
Two big reasons why.
First, some meme traders are pumped, if you can forgive the phrase, because Fed Chair Jerome Powell is getting another term.
That means more memes about the “money printer go brrr,” even though contender Lael Brainard was seen as even more likely to keep easy money policies going.
(She’s going to be vice chair anyway).
But the main reason was because Ken Griffin of Citadel, Enemy Number One of Reddit Traders, won an auction for a copy of the U.S. Constitution…
And he outbid a group of crypto traders to get it.
In today’s climate, that’s practically a declaration of war.
Markets are about value. They are about choice. They are about desire…
Sometimes you just want to punish someone else.
Cynical takes on the Federal Reserve and fury at hedge traders can change what millions of ordinary people around the world do with their money.
That’s something your standard analysts won’t even consider.
But we do. Investment isn’t just about numbers on a screen. It’s about love and hate, flesh and blood, emotion and passion.
Whatever your take on “The System,” keep that spark of vital energy alive, not just because it will keep you excited for opportunity…
But because it will show you the opportunities a chart never will.
The Christmas Rally… it’s something all investors know about…or at least think they do.
This is one you don’t want to miss.
WORD ON THE STREET
No New Fed Head, Uber Weed, Musk vs JP Morgan
Is There Anyone He’s NOT Fighting With? – Elon Musk and Jamie Dimon of JP Morgan don’t get along, and the feud has gone public big time. After JP Morgan sued Tesla for $162 million, Musk openly mocked the financial titan, scoffing that if “JPM doesn’t withdraw their lawsuit, I will give them a one star review on Yelp.” This won’t just come down to a lawsuit – I wouldn’t be surprised to see some funding suddenly emerge for TSLA competitors.
Trump Pick Stays At The Fed – President Joe Biden is keeping Fed Chairman Jerome Powell at his post. Of course, it’s not as simple as all that – the president will face some opposition from progressives in his own party for another Powell term. Perhaps as a sop, the president also nominated Dr. Lael Brainard as vice chair of the board of governors, a figure more popular on the Left. Though Powell’s supposed support for money-printing has become a meme, Dr. Brainard is widely expected to favor an even more lenient monetary policy.
Uber Takes Orders For Weed – (In Ontario). It’s not quite marijuana delivery yet, but we’re on the path. Customers in Ontario can call an Uber and be directed to retailer Tokyo Smoke. There they can pick up recreational cannabis – including edibles. Not surprisingly, Tokyo Smoke, owned by Canopy Growth (CGC), is planning to expand.
Inflation Goalposts Moved Again – Is it just me or do they keep changing the narrative on this? Treasury Secretary Janet Yellen now says she expects inflation to ease in the second half of 2022. She predicted monthly inflation rates will start to show the decline by then. At least she didn’t say that the government just needed a couple weeks to “stop the spread..
Simplicity and Consistency in Options – Click Below To See How It’s Done
HOT SPOTS: What’s Going on in Geopolitics
US Shares Intel On Russian Invasion – While the European Union is focused on the migrant crisis created by Belarus, the United States is trying to get the Continent to worry about Ukraine. American intelligence unveiled supposed Russian invasion plans. They reportedly show a major Russian push of about 100,000 soldiers that would advance via Crimea. The USA also contends that Russia is using agents to spread disinformation and disrupt any potential response from Kyiv.
The Sun Setting On The British Empire – Well, the Commonwealth anyway. Barbados is the latest Commonwealth member that is cutting its “umbilical cord,” in one official’s words, with the United Kingdom. “Barbadians want a Barbadian head of state,” said Governor General Sandra Mason last year.
China Assures Neighbors It Doesn’t Want Hegemony – That’s what they all say. President Xi Jinping told the Association of Southeast Asian Nations that his country was not seeking hegemony and pledged to be a “good neighbor.” However, these words don’t solve the increasingly strident territorial disputes between China and Vietnam, the Philippines, and other nations that contest Beijing’s claims over areas of the South China Sea. Many of these smaller powers are aligning with the United States against what they see as a rising Chinese threat.
CUTTING EDGE: What‘s Happening In Tech
“Big Short” Star Reveals BioTech Play – Michael Burry’s Scion Asset Management has bought 174,030 shares of the small biotech firm Scynexis (SCYX). SCYX hit $7.63 before dropping more than 1.25% yesterday – but it’s still up more than 40% over the last month. The company is developing treatments that are designed to overcome increasingly drug-resistant infections.
White House Says No More Lockdowns – Perhaps casting a nervous glance over at the Continent and its protests, the White House said that there will not be any more lockdowns to stop COVID-19. “We have the tools to accelerate the path out of this pandemic; widely available vaccinations, booster shots, kid shots, therapeutics,” said White House COVID-19 coordinator Jeff Zients.
NASA Prepares For Killer Asteroids – It’s about time. The Double Asteroid Redirection Test (DART) is scheduled to launch today via a SpaceX rocket. The purpose is to see whether humanity – if given enough warning – can redirect an asteroid. We have to figure this out eventually or just hope that continued good luck will spare us the fate of the dinosaurs.
FOR YOUR CONSIDERATION
“Currently, most of the user base is young. The company naturally wants to build on that – but most adults don’t want to be in a virtual space that bans romance, politics, or edgy banter.”
Imagine being grounded at age 15 – for the rest of your life. That’s what many older people think Roblox (RBLX) is like. The groundbreaking company has the lead in the war over the metaverse – but its advantage may prove short-lived. “Mr. X” breaks down the challenges facing one of his favorite stocks.
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