Market report 10/18/22 I believe we are looking at a technical bounce, albeit a strong one that may have legs. As ever, fundamentals and technicals rarely support each other on a day to day basis. The reason I do not believe this is over is because everyone (especially options dealers) were out of position at the bottom. And, in this "Greek" driven world, the tail wags the dog. But, here are some reasons I think what we are seeing is strictly a dead cat bounce: The volatility this morning seems limited to equities. Bonds are flat, gold is flat, and the currency moves seem very subdued. The real issues in the economy have yet to manifest themselves, although the canaries are starting to die. We are headed towards some kind of global conflict. This is something more severe than the US quarrelling with the Soviets in some third world country like Syria. It is direct tension with the Soviets and China simultaneously. Options dealers and swing traders are massively out of positi
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They say a bell never rings at the top of a market. 1. Everydays: The First 5000 Days: $69.3 Million The record for the most expensive NFT ever sold (and one of the most expensive artworks ever sold) goes to EVERYDAYS: THE FIRST 5000 DAYS . The artwork, created by famed digital artist Mike "Beeple" Winkelmann, sold for $69.3 million at Christie's—the first time that the venerable auction house has ever sold a purely digital artwork. The 15 Most Expensive NFTs Ever Sold - Decrypt 2. NYC house made of shipping containers sells for $5 million NYC house made of shipping containers sells for $5 million (nypost.com) 3. Coinbase lists over 1000 separate Crypto Currencies All Cryptocurrencies | CoinMarketCap 4. REAL ESTATE: Manhattan Beach sets new median home price record REAL ESTATE: Manhattan Beach sets new median home price record - Easy Reader News Ding Ding Ding Ding