The Woke Street Journal
Election
Taylor Swift's Cats Endorse Trump https://t.co/6BqooVNjkr pic.twitter.com/D0BaiQEyTG
— The Babylon Bee (@TheBabylonBee) September 12, 2024
Ballot Drop Boxes Installed Along Border Wall https://t.co/Nsu5vGRiSf pic.twitter.com/Xpzw6As5dz
— The Babylon Bee (@TheBabylonBee) September 12, 2024
Democrat Senator Richard Blumenthal says citizens will be shocked, astonished, and appalled when the truth comes out about the Trump assassination attempt-X
“There's a cover-up going on. That's definitive.”
Whistleblower Report Drops Bombshell Revelation on the Secret Service
— The Vigilant Fox 🦊 (@VigilantFox) September 13, 2024
“There's a cover-up going on. That's definitive.”
Secret Service agents revealed to Senator Josh Hawley that the woman placed in charge of security at the Butler, Pennsylvania rally happened to… pic.twitter.com/mIh13aQnSK
Did Kamala have a secret deal with ABC?
BREAKING REPORT: Mark Penn, a former senior adviser to Clinton, has called for an internal investigation into ABC, accusing them of rigging the debate against Trump.
— I Meme Therefore I Am 🇺🇸 (@ImMeme0) September 12, 2024
“I will be releasing an affidavit from an ABC whistleblower regarding the debate. I have just signed a… pic.twitter.com/hytoOrUFGT
ABC’s Bias Deprived Voters of a Fair Debate-WSJ
When referees put their thumbs on the scale, the game changes. The results have to be thrown out, we are robbed of our time, and democracy is drained of its meaning. A presidential debate shouldn’t be a staged wrestling match.
ESG
House GOP Continues Attacks on ESG Investing-NAPA
The House of Representatives hosted another hearing on Sept. 10 in which House Republicans characterized ESG as “woke” and attempt to steer investor dollars toward social causes, at the financial expense of those investors and their retirement security.
Ukraine
So, are we at war with Russia Now?
It is expected that Blinken will announce tomorrow that the US has given Ukraine the greenlight to strike deep inside Russia using Western made Storm Shadow missiles. This would mean NATO & the US are at war with Russia. Putin explains their position here pic.twitter.com/NYJnN13Ru3
— Clint Russell (@LibertyLockPod) September 12, 2024
Sounds like Poland doesn't want in....
Polish MEP Grzegorz Braun on Antony Blinken visiting Poland today:
— Wojciech Pawelczyk (@WojPawelczyk) September 12, 2024
"Blinken, go home as soon as possible. Get lost! We don't want you here. We don't want Polish people paying and dying for your wars."
🔥🔥🔥 pic.twitter.com/p4R2XMoJjU
Market
SPY bounced right at support Wednesday and kept going yesterday. Nickileaks wrote an article yesterday that seems to put 50 bps next week on the table, not sure if that contributed or not....
The Fed’s Rate-Cut Dilemma: Start Big or Small?-WSJ
The central bank is set to reduce rates for the first time since 2020 at its meeting on Sept. 17-18. Because officials have signaled greater confidence that they can make multiple rate cuts over the next several months, they are confronting questions over whether to cut by a traditional 0.25 percentage point or by a larger 0.5 point.
With the FOMC and BOJ next week, and fear out the window, I would probably pick up some VIX calls if I wasn't playing golf today. If I don't today, probably will on Monday, just in case. Not really sure how the Fed can disappoint but perhaps a 25 when 50 is on the table would be negative. Or, perhaps 50 would signal that they see some problems. BOJ probably has more potential for trouble.
In the Magnificent 7 names keep an eye on GOOGL. It held at 150 and looks like it wants to do an undercut and rally at the 200 day. I have long term positions in GOOGL and would probably look to add today if I wasn't playing golf.
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In power generation NNE continued to rally, though it did fail at the 50 day. It could probably use a break. I probably won't add dips because it doesn't have options, which allows me to cap my risk.
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I continue to think AI power generation is going to be one of the best themes going forward. Berenberg published a piece yesterday, where they said....
While investor knowledge levels about AI DCs appear to have increased markedly in recent months, the market continues to underappreciate what lies ahead in terms of underlying volume growth, in our view – both within the four walls of DCs, and well beyond those walls too. We remain unwaveringly bullish about the electricals sub-group on a medium- to long-term view.
We appear to be witnessing something of an arms race among trillion-dollar US companies, which are showing an apparent desire to invest in the upstream power generation and infrastructure, as well as the land and DC facilities, to get these GPU’s online at a breakneck speed. This is likely to be inflationary for power pricing.
DM me if you want a copy of the report.
Speaking of power, this is interesting. I wouldn't be putting on any Presidential trades at the moment as this race is too close to call, but remember solar and other clean energy stocks are really a rate play. These guys have to borrow a ton so they got crushed when the Fed raised rates in 2022. Guess what, the Fed is going to start cutting.....
A stock-market ‘Harris trade’ is starting to take shape-MarketWatch
Although they have struggled under Biden, solar stocks appeared to get a boost following Kamala Harris’s debate performance
Haven't paid much attention to China lately, but this was interesting out of Jefferies this morning....
The IEA report on falling demand from China is interesting. We have remained in the camp that a big bazooka from China is unlikely. However, we also believe that the start of rate cutting cycle from the Fed will give some space for China to enact more stimulus measures. We are not at a stage to be positive yet, but we do not want to be bearish on China anymore.
I haven't traded China names in a while and don't think I will go back to doing so any time soon.
