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Joe Weisenthal Profile picture
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Jan 24 • 5 tweets • 4 min read
THE STOCK MARKET PARTY HAS BEEN ENDING FOR ALMOST A YEAR

In today's @markets newsletter, I wrote about the pain in the market. It's getting a lot of attention now, but in reality it's been going on for almost a year.

Subscribe to the newsletter here: bloomberg.com/account/newsle…
@markets Back when the GameStop craziness happened, a bunch of people said "this must be the top!"

And it retrospect it actually was. That was the peak of the mania.
@markets BRK/ARKK bottomed right in the middle of last February.
@markets Here's the problem right here from @NoonSixCap upslopecapital.com/blog/intheyear…
@markets @NoonSixCap This was a good @ajb_powell from January 10th on the same theme. Even with the growth drubbing, a bunch of these names still look extremely expensive ft.com/content/d7b4c3…

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More from @TheStalwart

Joe Weisenthal Profile picture
Jan 12
A little bit hot.

Headline CPI rises 7% as expected.

However, core CPI accelerated to 5.5% vs. the 5.4% expected.

And the sequential change in core was 0.6% vs. the 0.5% expected.

Stock futures unchanged basically bloomberg.com/news/articles/…
Two year yields not doing much, so doesn't look like this report (so far) is expected to change the Fed's trajectory one way or another.
"The index for used cars and trucks continued to rise, advancing 3.5
percent in December after increasing 2.5 percent in each of the prior 2 months." bls.gov/news.release/c…
Read 4 tweets
Joe Weisenthal Profile picture
Jan 11
THE PERFECT CRYPTO INVESTOR IN CITADEL SECURITIES

For the Odd Lots blog, I wrote about why @paradigm, with its deep technical expertise in DeFi market structure, is the perfect fit for today's deal. bloomberg.com/news/articles/…
@paradigm Among other thing, Paradigm's @danrobinson is one of the author's of Uniswap V3. A great example of the firm's technical expertise uniswap.org/whitepaper-v3.…
@paradigm @danrobinson As @matthuang said on Odd Lots last year, Paradigm has a lot of in-house experience close to the metal bloomberg.com/news/articles/…
Read 4 tweets
Joe Weisenthal Profile picture
Jan 7
BREAKING:

Miss: Just 199K jobs created in December vs. 450K expected.

Unemployment rate falls to 3.9%

Average hourly earnings grow 4.7% YOY

bloomberg.com/news/live-blog…
Labor force participation rate holds steady at 61.9%, even as the unemployment rate falls from 4.2% to 3.9%.
Stock futures modestly lower after the report bloomberg.com/news/articles/…
Read 5 tweets
Joe Weisenthal Profile picture
Jan 7
As we wait for the jobs report. Something to remember: there are a bunch of hints in various surveys and signals that the labor market is booming right now.

bloomberg.com/news/articles/…
1. This week's ADP report was a monster, with over 800K jobs created among private firms.
2. The data from Homebase was extremely strong.

See here via @PantheonMacro
Read 9 tweets
Joe Weisenthal Profile picture
Jan 6
NEW ODD LOTS:

Why the price of coffee has surged 100% over the last year.

@tracyalloway and I took a deep dive into coffee market structure with @CoffeeNinjaRyan to discuss how the market works, and what's driven this dramatic change in price. bloomberg.com/news/articles/…
@tracyalloway @CoffeeNinjaRyan Here's a 5-year chart of arabica beans. You can see the price really taking off at the end of 2020, at the end of a multi-year bear market.
@tracyalloway @CoffeeNinjaRyan Here's Robusta (lower quality) beans. Also up, but not as much.

One thing I learned from talking to @CoffeeNinjaRyan is that in coffee trader lingo, playing the spread between Arabica - Robusta is called "the arb" (even though it's not actually an arb at all)
Read 4 tweets
Joe Weisenthal Profile picture
Dec 20, 2021
WHEN WILL CRYPTO PEOPLE FINALLY STOP TWEETING

In today's @markets, I wrote about Web3 network effects and how crypto twitter should come to an end.

Sign up for the newsletter here: bloomberg.com/account/newsle…
@markets My prediction is that in 2022, there's no visible slowdown in Crypto Twitter, but everyone tweets things like "I've been spending a lot less time here on Twitter, and way more time in Discord lately. Way more positive and learning a lot more."
@markets "I still love Crypto Twitter, especially for trading. But been spending way more time on Discord this year, because that's where all the builders are"

How you'll really know when crypto is really in a bear market.
Read 5 tweets

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