Another week of bull bear fight in the stock market resulting in another successful defense of weekly support. Bears are very frustrated and drawing all kinds of lines projecting from a steep pullback to an outright crash. Bulls are laughing to the bank and poke fun at the bears.
So classic – holiday mode trading always in favor of a bullish up grind.
One funny news in the chess world that’s worth checking out is that Hikaru Nakamura is being accused of cheating by former world chess champion Vladimir Kramnik. The whole thing is summarized by this video and the ongoing development of the situation is getting to surreal level. In short, some people just can’t grasp the basics of statistics and refuse to accept the fact that some events that are deemed near impossible to happen are actually common events.
For example, to win some kind of lottery at one out of 14 million chance by a single person is exactly that – near impossible. But we see lotteries are always won somewhere everyday. Would you call those winners cheating? No, of course. When there are so many people buying every single lottery game, it is bounded to happen very often.
Here is an argument against the idea of an imminent stock market crash from none other than Raoul Pal.
While there are tons of videos saying shit will hit the fan like this one.
I have been asked many times what I think will happen to the stock market – I think both sides are right! Hence the future hinges on the next 1-second event does not happen in coming 2 years then you get what Raoul Pal predicted. If any one-second event hits, the system collapse. We have all the necessary conditions in place for a potential “global reset” but that does not imply it will happen quickly.
Another busy weekend for me so better go back to work now.
Have a great weekend all!
