11/27 Recap

Let me preface this by saying a few things about substack and what I’m thankful for this Thanksgiving. In 2022 I watched alot of people get hurt badly in the market during that bear market and I wanted to share my musings and my insights on how I viewed markets and why all these fundamental investors were getting punched in the mouth.Fast forward 29 months since I started posting my musings online and I find it crazy to believe thousands of people all over the world now read this everyday. We’re surely in a simulation where a random guy using a pseudonym is writing one of the biggest financial publications in the world, literally I’m #12 behind some major publications with hundreds of thousands of followers. I’m a nobody on the internet, hell I’m a meme named after a blend of my favorite fed governor(James Bullard) and the term for a person who thinks stocks just go up everyday(Bulltard).

This has been a lifechanging 2+ years for me, not just with the success of this substack, but I’ve met so many cool people along the way. So many send me screenshots of their gains and how they’ve changed their approach to markets because of this place and it feels good. Most people in the world think the market is all about deep dives and reading balance sheets but my approach is simply following what bigger money is doing in my own manner using charts and option flow. I believe that is truth. I also believe once you understand how to use those 2 things in your favor, the market becomes a weapon to print money. For those of you who stick around and read this everyday I’m forever thankful. The community discord went from an idea Rob mentioned in a comment on here back in 2022 to 1000+ user community which to me is now a second family full of all sorts of interesting people from diverse backgrounds from doctors to professors to engineers. There’s so much insight in that discord on various topics that no hedge fund could ever pay a team of analysts to uncover. It’s a new age in the finance world and these niche groups are truly as powerful a groupthink exercise as exists in my book.

As you all know my family has been battling my dad’s merkel cell carcinoma for the last 6 months with him hospitalized. It appears we’re losing that battle right now as he was given 1-2 weeks to live on monday. He was given the option of hospice or 1 last dose of 75% strength chemo, he previously was taking a 50% dose the last 2 weeks with no meaningful effect. He said if I’m going to die, I may as well take a last shot. So tomorrow they will administer it and I do hope a miracle occurs, but the doctors told us it is unlikely. His battle really hit home for me these last few months as he’s only 75 years old and spent his whole life working and never had a minute to enjoy his retirement. That’s just what we’re all told to do in life, work and enjoy it when we retire. What happens if your health doesn’t allow that to happen? Life is short we have to enjoy it when we can. When I look at all the people in here trading, you’re doing it to make money which is used to buy time. Time is the most valuable asset in the world. Markets, if used properly, allow you to create the freedom you seek and this post from PurpleDrink today in the discord really should hit home for everyone on why we all spend time each day playing in markets.

Tomorrow markets are closed and friday I will not be around for the half day. As you can tell from above, I really do not know what the next week or two hold for me, in my perfect world he somehow pulls out and we have many more weeks ahead together, but if the doctors are right, it appears I will miss some time soon and you know why.

11/27 Recap

This was a slow session hence the early recap. Very little volume on the options side and the day before a holiday, it makes sense. The SPY was a bit weak today, large cap tech rallied hard yesterday and sold off today. We remain firmly over the 8 ema and there is nothing bearish to discuss for the moment but with how flat we’ve been a few weeks now, we’re a small 2% move away from breaking the 21 ema. Tech is really the only laggard. Crypto is making a huge move today as a smaller company, SOS, authorized an addition of $50m of bitcoin to their balance sheet and the market took off. That is just another in a long line of companies I forsee doing that in the coming years and I think we are still so early in that world.

Today’s Unusual Options Activity

Here is today’s link to the database, it will be open until monday