It’s A Bull Market (Like it or Not)

It’s A Bull Market (Like it or Not)

Apple, the world’s biggest company, opened today at all-time highs. We are pretty sure (but not totally confident) that the most important stock in the entire market hitting a new all-time high cannot be considered a bear market rally. So basically the stock market crash and housing collapse are exactly like your girlfriend… they ain’t coming. 

But fear not fellow celibacy celebrators -

Today Apple is debuting their mixed reality ski goggle iphone for your face that will cost approximately $3,000 which is either ridiculously expensive or an insane bargain for a sleek porn machine.

Have to wonder who buys this thing and what do you do with it except for well you know.

[ cnbc ]

The jaws tighten on Binance’s crypto empire.

Binance’s trading volume is bigger than all of the other exchanges combined. FTX may have been it’s only legitimate competitor as far as namesake recognition goes, however as it turns out FTX was an illegitimate ponzi scheme where customer deposits were funneled to fund democrats.

The SEC is suing Binance alleging they operated an illegal exchange and should have registered as a securities exchange. Then there’s more of the same crypto stuff like misuse of customer funds and spoofing the books to fake volume.

It’s terribly sad watching high beta tech shitcos like $PLTR rally over 100% in the past month meanwhile crypto (furthest end of the scale) can’t catch a bid and likely won’t until the dark clouds clear.

And they may be here for a while.

If Binance should have registered as a securities exchange, then undoubtedly the same can be assumed for Coinbase. From what we’ve seen on Twitter the Coinbase legal defense has been something like, “because you [the SEC] allowed us to go public, you validated our business model as a crypto exchange and the rules do not apply to us.”

Not safu.

[ wsj ]

RIGD REPORTS on $AI and $QQQ

Breadth is bad but the indexes do not care. SPY is 12% from all-time highs, QQQ is 14% away and implied volatility is low. Which means the market is saying there’s no fear for a crash and prepare yourself for a slow grind to the upside for the remainder of the year.

Looking out at this week there aren’t many events to trade unless you’re a madman playing Gamestop earnings, it’s sort of a calm before the storm situation due to next week’s FOMC and inflation reports.

We’re digging into the market data now and will be back tomorrow with a few trade summaries and maybe one or two worth taking!

thanks for reading THE REPORT by RIGD AI

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