A Personal 🧵

Gonna tell you a quick story; not for any other reason than bc it’s true and bc people are suffering and maybe sharing some perspective helps.

I’m a balls-to-the-wall guy; when I do something, I do it wholly and passionately. “In for a dime, in for a lifetime.” The few ppl I’ve let thru my online / arms-length persona and past the brave face I've practiced for yrs know I’m a complicated man. My past has shaped me as it has us all; broken home, 9/11, too many lost friends and lotsa self-introspection. As I said, we all have a story.

THREAD: The FAANG-ification of 🇺🇸 #cannabis

There's blood on the streets in #cannabis-land, the latest twist in what's been a turvy year. I could choose from a lot of charts here but chose a global lens and zoomed out to paint the complete picture. Talk about vol. #woof 👇 2/ A few things jump out to me on that chart. The first is the bubble and bust; boy I've seen a few of those in my day. Scary as all hell, all sorts of wealth destruction; never fun. But I also notice the uptrend, which remains in tact. That's sorta a big deal given the vol.

THREAD: 🌎markets

🙄 🔫 me thinks too many 🐻 + 📆= 🐂 but we have rules that are not open to interpretation, personal intuition, gut feelings, hairs on the back of your neck, little devils or angels sitting on your shoulder.

So we 👀 📈📉 and start w 🇯🇵 🙀👇 2/ Over in 🇭🇰, ain't nothing going on 'cept the rent. I've learned respect for the butterflies in Hong Kong over the last ~30 years as they tend to have sensitive antennae. Been a tough year 👇

THREAD: a technical look at global markets. Start w $SPX 1-year and we see the obvious damage this month. Sliced thru the 50- 100- 200-day moving averages and 'bounced' to back-test the 200-day. Oversold, but we know the sharpest moves are from oversold conditions. 👇👀 2/ Pull back the aperture to a five-year lens for broader perspective...

$SPX

THREAD: The #cannabis market

Been managing 💰30 years. $MS, the buy side, etc. etc. Seen lots of volatility; the Asian contagion / Russian ruble, Y2K, financial crisis. Big two-sided swings lots of wealth and plenty of false hope. Which brings me to the cannabis market... 2/ The #cannabis evolution is part-prohibition repeal in that there is existing end-demand that is moving into a taxable realm. It's also part-Y2K in that stocks will be valued on potential rather than what's tangible, especially as more people understand the #truth...