Disney’s Drubbing & Tech Tanking
Quick update and nuclear news
A month ago I suggested shorting Disney (DIS).
It’s down 11% since then, to its lowest daily close in nearly 9 years.
Below $80 its decline could, or should, accelerate.
To be safe, I’m lowering my stop to cover only after a daily close above $95
My other short positions, detailed last week, are looking great.
Nvidia is a component of FNGU and FNGD.
Nvidia (NVDA) announced a blow-off quarter last night yet big tech sold off today.
That’s typical at this stage of the cycle - fantastic news is sold at the top, like 10 months ago horrible quarters were ignored at the bottom; partly why I turned super-bullish on tech at the time - and another major red flag we can now check as being evident.
At the same time: Ugly Numbers Reveal AI Demand is Already Shrinking
The only areas where AI is flourishing are shamming, spamming & scamming
Magical thinking seems to have peaked, including in crypto (still heavily net short), and we look for the most speculative sectors (crypto, AI, electric vehicles, flying taxis, etc.) to lead the next major market move lower as the associated chief grifter-charlatans go from heroes to goats in the public eye.
Cycles do not end with inexperienced people causally shrugging-off big losses with “we’re in a bear market”.
Cycles peak in manias and end in panic. Every time.
That’s the good news! Opportunity for the prudent.
Magical thinking is also coming to an end with respect to the belief millions of electric vehicles, soon including airplanes supposedly, can be powered via wholly inadequate, rotting and collapsing power grids, or by a mania in solar and wind frauds.
Reuters: India approves $7 bln plan for electric buses in nearly 170 cities
India on Wednesday approved plans for a nearly 580 billion rupee ($7 billion) scheme to deploy 10,000 electric buses in 169 cities over a decade, along with charging and associated infrastructure facilities.
The federal government will fund 200 billion rupees of the cost of the scheme, based on a public-private partnership model, Information Minister Anurag Thakur said at a briefing.
CBC: Ottawa announces up to $74M for small modular nuclear reactor development
Canada is getting behind the development of small modular nuclear reactors in Saskatchewan, the federal minister of energy and natural resources announced on Saturday,
Ottawa has approved up to $74 million in federal funding for small modular reactor (SMR) development in the province, Jonathan Wilkinson said in Saskatoon.
SMRs generate nuclear power. The idea is to help fuel the transition to net-zero emissions and meet the federal government's climate goals by transitioning toward non-emitting energy, Wilkinson said, speaking at the Sylvia Fedoruk Canadian Centre for Nuclear Innovation at the University of Saskatchewan.
"Delivering clean, reliable and affordable electricity will look different in every region of Canada," he said in a press release accompanying the announcement.
"We are investing in the future of nuclear technology, building on Canada's decades-long legacy as a responsible global leader in nuclear power, and leveraging Saskatchewan's world-leading production of uranium to position the province to thrive."
CNBC: Why nuclear power in the U.S. could be making a comeback
MarketWatch: Interest In Nuclear Energy Growing While Uranium Output Lagging Demand
The nuclear power market is currently set up for significant growth given global interest in clean, stable energy supplies…