US equities remain in minor chop mode. VIX is due a weekly settlement in the 16/17s, as the mainstream remain grossly complacent.
sp’60min
VIX’60min
Summary
Little to add.
*Yes, I will hold short into next week, as this trade is getting ‘old’.
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notable stock: MSFT
A lot of chop… if still holding under the very important $292s.
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notable stock: TSLA
A very weak dead cat bounce attempt.
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notable energy: SLB
I can understand if some of the energy bulls are bemused at today’s drop, as earnings were broadly fine.
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notable miner: LAC
I’ve long noted I have ‘issues’ with anything based in South America, so today’s news that Chile was going to nationalise its Lithium mines wasn’t exactly a surprise. Lithium Americas should receive increasing attention… not least as the giant Thacker Pass mine is being developed…
>> https://www.lithiumamericas.com/usa/thacker-pass
However, I’ve little interest in buying back the stock until the main market has seen ‘panic and capitulation’. The patient… will remain so!
back at the close…