Late last night Hal Turner, a talk radio host, published a report that a bulge bracket market making bank had missed a maintenance margin call on a silver short position. Most like this was an attempt to just pump a market running on fumes.
All metals dumped on open. First, the report is full of obvious impossibilities.
Second, if a market maker were to be such a situation, the market itself would become unstable i.e. people would run from the market. Not rush into it. So why this report (if accurate) would be "bullish” boggles the mind.
By the way, Hal Turner spent two years in prison for threatening three federal judges, is a Holocaust denier and gained most of his fame for publishing a report that China was granted eminent domain over the US.
If you are long silver he is an example of the type of person pushing silver as an investment.
We are actively holding indirect sector PUTS.
The stock market is just waiting out the FOMC notes which come out tomorrow at 2pm. Everyone is just wanting clarity. Two or three rate cuts in 2026 is cloudy issue.
We are holding IWM PUTS and there is a chance we change this position before 2pm tomorrow.
There always seems biotech that forms a cult. Sometimes the company deserves such attention and rewards the passion other times not.
Mereo Biopharma NASDAQ:$MREO was one such stock. It actually tripped accumulation/consolidation before the recent run but was nowhere near our entry channel. Today, it fell 90%. The Yield symbol denotes a binary event is likely. All or nothing.
Another one that is getting attention is Intellia Therapeutics. NASDAQ:$NTLA Which is closer to the channel and shows no immediate high-risk catalysts and looks to be setting up as the next cult biotech.
We do not own either company.
If you like our risk/event charts they are available in chat via subscription. This subscription fee covers the cost of running all this code. Amazon Web services and data plans are not cheap.
As always, if you think there are spelling errors update your dictionary to the latest version. Happy speculation!
— AJ
Event Horizon Tools
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