Promoting Useful Knowledge

  Well well, I hope there are at least a few other Beastie Boys fans out there. Sometimes I write this whole entire post and sit there searching for ideas for a title. Then times like this the title just punches me right in the face. The title comes from one of my all-time favorite music videos, Sabotage . It seems a large group of individuals decided they’ve had enough of Wall St making money shorting the stock of their favorite gaming headquarters and sabotaged their party. The GME numbers were astonishing, but especially so on Friday. The stock traded roughly 115 million shares a month as of December, then traded 307M and 362M in the last two weeks, with 197M coming on Friday alone. Just the call options expiring on Friday alone traded over 570,000 contracts. The stock ended Friday up 51%, but was up 78% at one point. This wasn’t just a one day event though, this was the 7th of the last 9 days that the stock was up at least 10% and the second one that was +50%. It also showed so...

  Before I start the normal format of the blog, I wanted to release this today, because I know there are a few Canadian readers out there who are working today, but mostly because it’s Martin Luther King Jr Day. Dr. King was an amazing leader and I wish we had someone of his standards to guide us today. I guess all that we can do is listen to his speeches and read his writings. Here are a couple of things I read on him and his impact today. 7 best Martin Luther King Jr. quotes you may not know They Walk in MLK’s Footsteps Most of the major news last week circled around the changes coming in Washington. Social Media platforms pulled access for President Donald Trump. Whether you agree with that or not, it’s the first time many have applied any sort of moderation. Many corporations have also decided to pull campaign donations. Some companies suspended donations to those Republicans who voted against the electoral votes, but many paused all political spending. That’s nice and all, but...

  Many of us couldn’t take our eyes off the TV last week. For all the hating on Mondays, it was by far the easiest day of the week. As I was putting the finishing touches on last week’s post, Bitcoin was coming off its first time above 30,000 and looked like it might do a bit of a prairie dog chart formation*. That’s when something peeks its head above a level, but quickly dives below ground. Late Monday morning, it traded down to 27,600, down 20% from Sunday’s highs. Over the next 100 hours it rose 52% to an intraday high of nearly 42,000. And that was the calm before the storm. Tuesday started off with a bang as Saudi Arabia said it would cut another 1M barrels off their daily production. Nearly everything energy caught a bid, and Crude ended the week up about 9%. Tuesday night we started getting some early predictions on what could happen in Georgia’s two senate races, but it was still undecided going into Wednesday morning. That’s when all hell broke loose. Frustrated with elec...