Bonfire1996 said:

---

All the data from Africa shows that Omicron is less severe than Delta.

Buy to MF dip

---

Seconded.

Right after they announce its in he USA

Not sure what you guys did while I was offline last week but I assume it's retaliation for not posting photos from the beach.....well played. Looking forward to BTFD tomorrow.

Irish 2.0 said:

---

Green start. Long night though

---

The first look as US equity futures open up is that the Dow is up 125, S+P 22 and Nasdaq up 74... Very choppy, so do not assume we will bounce, but that is the first trade... Treasuries have not opened yet but futures are lower. Oil is up 2.5%...

Lots of what we read show lead up to believe that economies will work through this variant... And will not close... But we will wait until we see the full overnight session first... Again equity futures higher to start....

WHO Urges Caution as South Africa Calls Omicron 'Mild'...BB Headline

Equities are now up 32 S+P points... They were up over 40... Dow is only up 156 but Nasdaq is up 145... 10 year treasuries are down 18 ticks , or 6 basis higher in yield from the last minute spike at the panic close on Friday at 2 PM... 5 years and 7 years are higher in yield by 7 basis, while the long bonds is only higher in yield by just under 5 basis ...Oil is up almost 5%... Lots more going on.. Asian stock markets are lower, but only catching up to where the US went out... One thing we talked about late on Friday with the FT, with the bond markets rallying on Friday and equities selling off over 2%, the month end reallocations for pension funds to sell equities to buy bonds, has now been reversed...

We will update again when we see something worth talking about.

thanks so much for posting these!

BaylorSpineGuy said:

---

In regards to what? The general market?

The big investors at my hospital that I talk to the most are buy-and-never-sell types. They don't seem to bat an eye at downturns. One guy looks at the TA side more and he just plays the swings. He buys/sells QQQ and trades ES futures.

Our biggest whale has boatloads of shares of TSLA and moved his entire 401K about 2-3 yrs ago to AMZN.

Dude worth about $10M at least. Quiet, unassuming guy. Stock monster. He will never sell anything. Chinese guy. Hates Chinese stocks. "Only buy American. Only but top 10 QQQ." That's why he's rich. Owns a bunch of TSM too.

---

If you feel ok doing it, please have them look into NNOX. Their opinion carries more weight with me than press releases because they'll know if it will be in demand.

Monday Macros

Markets had a wild ride on a shortened Friday... Major risk off trading with a huge FTQ... It seemed like traders sold first to ask questions later... All of the focus was on the Omicron and its 32 variants... No one seemed to care that the South African doctors said the effects were "mild" on those that had been previously vaccinated... So where does this leave us?.. Some of the losses have reversed overnight, we would say about 40% of the moves in stocks and bonds have been clawed back... But there is still skepticism, and as we said last night, we have to wait to see if margin calls create more havoc today... So far it looks like it will not be a factor...but there is a tremendous amount of leverage in the system with massive option trading in stocks and spread reach with leverage in credit bonds...

Equities reached up to 46 points higher overnight, currently up 37...about a third of the 107 point sell off Friday...we looked at the correction numbers, but they are not meaningful yet... What the sell off did Friday was remove the pension fund need for month end to sell equities to buy bonds... But while we think the Omicron will just be another variant, similar to Delta and Lamba and other Greek letters, with vaccinations continuing to work , the jury is out for now... We are not virologists, but we are numbers geeks, and we think the market got ahead of themselves on Friday, and while we are not dismissing the news, we think traders overreacted... But we will wait for follow through...

Treasuries reversed themselves between Wednesday and Friday... 10 years, which got as high as 1.69 yield, went all the way back to 1.47, now 1.54... Similarly 5 years got to 1.37, then 1.16... These are big two day trading moves... We have been saying for months that it is a war between Covid versus Inflation... Covid clearly won the battle for the markets attention over the last few days, but we still inflation wins the war... We have been saying that the Fed has windows for them to raise rates... And they have to do it when the windows are open... A surge of Covid, like Friday, can close those windows at least temporarily... Meaning that if the Fed wants to double down on tapering at their next meeting in two weeks, it will be difficult due to the new Omicron spike...

Fed... 14 Fed speakers this week... Powell today at a Fed Innovation conference and tomorrow with Yellen in front of Congress... Lots of Fed speak... We focus on Bostic, who was the latest speaker after Omicron was announced ,and said that the Fed should be open to accelerating tapering... European Central Bankers were all over the place this morning... Still believing that inflation is transitory and has peaked... We disagree, but today is not the day to focus on inflation...

Economy... While the variant made the headlines, it did not deter the shopping malls, where most were packed all weekend ... And all the football games we watched were full…

Credit... This could be a problem... US junk bonds are on track to post the biggest monthly loss in 20 months with yields up 63 basis in November to 4.86. Investors pulled out more than 3 billion out of US HY funds for the latest week, CDX HY was out 22 on Friday, 6 better today...

Fed speak will defer to experts... We will watch what Israel does as they are much quicker than the WHO, who seems to have a political agenda . Israel closed their borders to all traffic for the next two weeks.... Again, the Global economies, where the DM are reasonable vaccinated, should remain strong through the Holidays...we hope... And yes unemployment at the end of the week should be strong, but backward looking.

Dorsey announces he's leaving twtitter,

Twitter up 10%

Take that you communist!

Scalped SPY at the open. Dec 1st 460P, could've executed a little better but I'll take 12% on a quick trade.

Feels good to come up with an idea and execute it successfully.

All my mass accumulation small caps are total dog ***t.

PearlJammin said:

---

All my mass accumulation small caps are total dog ***t.

---

Yep. wwr, mvis, immr, elox, mbio, bigc, uwmc, clov, watt (and I'm probably missing some more) have all had a rough time lately. Yes there were spikes earlier in the year, I'm just talking about the last 3-4mo or so.

Up.

Think that will bring RIG back up at all?

wanderer said:

---

PearlJammin said:

---

All my mass accumulation small caps are total dog ***t.

---

Yep. wwr, mvis, immr, elox, mbio, bigc, uwmc, clov, watt (and I'm probably missing some more) have all had a rough time lately. Yes there were spikes earlier in the year, I'm just talking about the last 3-4mo or so.

---

Goco, dpw, ebon too. Might as well throw in sndl.

All the darlings of Texags.