Market After The Close, Tuesday 19 November
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The Nuclear Option
by Alex King, CEO, Cestrian Capital Research, Inc
Today the "nuclear war" narrative spread for about an hour which coincided with bond yields dropping by maybe half a point as investors lazily bought a couple bonds just in case. For once, FinTwit actually had the best take on this edge case which was, buy the Tsar Bomba dip, because if it turns out to be the Mariana Trench it won't matter because your brokerage will have been vaporized and they can't come after you. And if it turns out to be fake news then you'll be up. A win-win. Welcome to financial markets. Yes this is how they always are. No you cannot remain emotionally normal if you spend enough time in markets. When your first reaction to the news of impending nuclear doom is to check the 10yr yield and note once again that Wave 5s always tend to end around there ... then there is something wrong with you. But this is the level of dead-inside you need to attain if you are to continue to win the free money the market offers you each and every day.
We'll get to the in-depth look at how markets stand between the rock (global thermonuclear war today) and a hard place (Nvidia earnings tomorrow) in a moment. But first a word for our esteemed Investment Professional subscribers.
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