Monday and Tuesday Updates

14 Dec 2022 by rate3

Monday's markets played a rising opossum with no macro-data releases (usual for the week's start) and bullish pre-FED anticipations rising.

Tuesday's inflation numbers showing 7.1 percent instead of the expected 7.6 heated bulls a bit which led to NASDAQ's ~4 percent gap-up opening (from 11118 to 11542) and a drop on the mid-day take-a-profit trades. BTC went up the same 4 percent (from 17427 to 18106 on the highest) during the same time frame (talking about correlations :)

Looks like neither FTX's asteroid impact nor CZ's hardships having too much influence on where BTC is intend to bring all of us (price-vise I mean :)

Generally speaking, FTX starts to remind me four other noisy and infamous episodes at once - dot-com-boom-bust, Enron, MtGox and Madoff: FTX has the ~30 bln dot-com valuation, Enron's corporate debtors, Madoff's political frenemies and MtGox's technological obnoxiousness coupled with the ignorance of DC's realities.

Obviously, compare to those four events, the FTX occurrence is mostly hysterical. Politicians, who are tired by their own ineptness while facing the real-world issues like the war, the stagnation and the social conditions deterioration, which they supposed to be dealing with but can do nothing about, willingly turns to the political theater where they can demonstrate the utmost effectiveness to their constituencies. Publicly executing 30-year-olds always helps for that matter :)