1/x Vanna joined the wheel of fortune on this day in 1982,& 38 years later she’s stronger than ever...Friday’s into the Mon of qrtrly OpEx in particular aren’t a time to trifle w/her...As called for, the market continues to try & shake out weak hands from overextended positioning

1/x ‘Twas the night before Christmas & all through the market not an order was stirring not even for $TGT.
The bonuses were entered into payroll with care,
In hopes that next year would bring a similar fare;
The Bulls were nestled all snug in their beds;

2/x While visions of $TSLA danced in their heads;
& Biden in his Covid mask, & Powell with his still flowing money tap,
Had just settled their brains for a long winter's nap,
When out on the screen there arose such a clatter,
All sprang from their beds to see what was the matter.

3/x Away to their monitors they flew like a flash,
Tore open their Bloombergs & threw up the dash(board).
The S. Claus rally in markets, that all of us know,
Paired w/vaccine reopening, Gave a bid to the market, leaving old prices below,
When what to their wondering👀 did appear?

4/x But a Georgia runoff rushing up to them with complacency, not fear...
With once reliable Vanna flows no longer lively & quick,
They knew in a moment the markets might get quite sick...
Unexpected, 2 Georgia Dem peaches into Congress they came,

5/x Whistling & shouting they called for more fiscal, ‘CARES Too’ its new name:
"Now, Healthcare! Now, Infrastructure! Now Green Energy & Protectionism!
On, Labor rights! on, Minimum Wage! on, Basic Income & Populism!
To middle class households, To the poorest of them all!

1/ Ch-ch-ch-ch-changes (Turn and face the strange)... as futures, sit pinned @ an odd elevated morning perch awaiting Janet Yellen’s confirmation hearing & her call for the new admin to ‘act big’...this narrative has markets on high. But the truth is that it’s actually just Gary

2/x behind the curtain, pulling the usual levers. Until Vixperation on Wed, it‘ll be nearly impossible to break the IVol oversupply. This pinning of IVol was so strong on Fri that despite a peak to trough drop of nearly -2% in SPX, fixed strike straddle were down across the board

3/x & particularly decimated in the very front of the curve. IVol particularly in the 30 day range is showing dramatic signs of oversupply relative to the rest of the IVol surface, giving a nod to the Vix strip driving the compression. Even during windows of vanna weakness as we

4/x are in now, this oversupply phenomenon paired w/ a market decline & a slide to higher fixed strike IVols can still lead to a temporary ‘Dead Cat Bounce’ where residual Vanna/charm morning flows lead to brief AM market support. These supporting flows are generally just strong

5/x enough for a countertrend thrust &, unable to meaningfully impact more important macro flows & hence generally should be faded starting around 9-10am CST. That said Gary’ll likely see to it that there is no major technical break below 1 stdev in the 20 days, likely preventing

1/x The market continues to try & shake out weak hands from overextended positioning by both HF & Retail...After a strong Vanna run up overnight, as expected, retail exuberance exploded on the open in the form of retail call buying, this fragility, paired w/a)Mean reverting flows

2/x from pinned Index Vol b) well documented, risk parity rebalancing flows & c) selling flows tied to bank EOY liquidity constraints. In combination, these flows have together have amounted to substantive selling pressures, strong enough to counteract the positive vanna/ charm

3/x flows, & point to continued likely index RVol an IVol pinning...Historically, the week of quarterly OpEx markets are notoriously volatile intraday, but also mean reverting like we saw today. I think it is fair to expect continued IVol compression & more of the same underlying

4/x chop. Vanna/Charm flows will lose their oomph after Wed 12/16 vixperation morning. There’s a window of weakness which I’ve spoken to for a month that falls 12/16-12/23. That could open a brief window that could lead to revaluation of the real risk & short interest,post 1/6...

5/x but the overwhelming 10k 🦍 of index Vol compression should still hold any correction in time & price in check in the shortterm and it’ll be hard to have anything blow up too bad in SPX land given how cheap & abundant Xmas Vol is 12/23-12/24. NTM, a stim deal & potential Fed

4/x keepers are calling in the Fed(s) (Fed/sec) for some help getting the animals back under control, so they can feed Gary & get the zoo back under control. As they are likely giving guidance to the brokers to get this under control, as every major retail broker seems to be

5/x restricting trading in the short squeeze names to closing only. The Wheel of Fortune has a taping on Fri & w/out Gary at his best the show will be overrun by the animals. If they can make it to the EOM & keep Gary above the 20 day, calm him down & start feeding him,vanna will

6/x be back & should be able to nurse him back to his usual self & save the show. But there’s a lot of time between now & then & holding the animals @ bay until then seems like a colossal task. Given the pop in Ivols & backwardation of the curve, when vanna gets back she will be

7/x refreshed & in preelection form. The only question is will the animals be so out of control so as to not even be managed by Vanna in her best shape.. This decline fits into a narrative that I’ve had brewing for 4 months, that after a monster run since Sep this is a healthy &

8/x reasonable time to expect the animals to be tired of being caged up & want to blow off some steam. All the biggest wall of worry narratives have been solved 1 by 1. Sentiment & bullish positioning was at all time highs. Hedging activity was low. Breadth was deteriorating. W/

#3/thread on Angkor wat

Christianity and islam may be the largest religion of today’s world but Sanatan dharm has the largest religious monument in the world in the form of Angkor wat. It is situated in combodia and spread across over 400 acres / 1.6 km².

It was listed as a UNESCO World Heritage Site in 1992, which encouraged an international effort to save the complex.
It was originally built as a Hindu temple dedicated to the god Vishnu. In Khmer, the Cambodian language, Angkor means "city" and Wat means "temple grounds".

So Angkor Wat means "Temple City". Its original name was Vrah Vishnuloka or Parama Vishnuloka, meaning the sacred dwelling of Vishnu in Sanskrit.
But, it gradually turned into a Buddhist temple towards the end of the 12th century & is still used for worship today.

Angkor Wat was initially designed and constructed in the first half of the 12th century, during the reign of Suryavarman II, as the king’s state temple and capital city. It was built without the aid of any machinery, as there was no machinery available at that time.

Evidence for these dates comes in part from inscriptions, which are vague, but also from the architectural design and artistic style of the temple and its associated sculptures.

Another aspect is that the five central towers of Angkor Wat symbolize the peaks of Mount Meru,

A thread on Wallelign Mekonnen’s 1969 essay “On the Question of Nationalities in Ethiopia” - which catalyzed the student movement that overthrew Ethiopia’s Solomonic dynasty in 1974 (Wallelign was killed in 1972 while hijacking an Ethiopian airlines plane) https://t.co/Ol0ElagLJq

Wallelign wrote that, while some call the question of nationalities "tribalism" - it is in fact "nationalism." Ethiopia is not one nation, he wrote, “it is made up of a dozen nationalities with their own languages, ways of dressing, social organization and territorial entity.”

Culture is nothing more than the superstructure of an economic basis that presupposes subjugation of the peasantry and proletariat. To be a “genuine Ethiopian” one has to speak Amharic and adhere to their culture. One must “wear an Amhara mask”- to use Frantz Fanon's terminology.

A common refute to the Neftegna system, whereby Abyssinian elites took lands from southern peoples, was that there are Amhara and Tigray masses in poverty. Another centred on representational politics. In reality, the feudal system oppressed all, but some groups more than others.

While Abyssinians are not dominant because of inherent imperialist tendencies, this is no excuse to perpetuate this situation. The only way forward is a state where every nationality is given equal opportunity to preserve and develop its language, culture and self-administration.

#THREAD
1.Meenakshi Amman Temple(472ft High)also called as Meenakshi Sundareswarar is a famous Hindu temple located on the southern bank of Vaigai River in temple city of Madurai, #TamilNadu.It is dedicated to Parvati(Meenakshi)& her consort Shiva(Sundareswarar). @LostTemple7

2.Madurai Meenakshi Sundareswarar temple was built by King Kulasekara Pandya (1190-1216 CE).This popular temple visits over 15000 visitors daily & around 25000 on #Friday !Friday sees the most number of devotees visit the temple with the number going as high as +25,000.

3.Meenakshi Temple also hosts an annual festival called Meenakshi Thirukalayanam that is held in April. A celestial wedding of the god and goddess marks the end of the festival. About 1 million devotees visit the temple during this festival.

4.the temple has been tagged as one of the seven wonders of India along with stunning Architecture.The temple is built using Dravidian South Indian style of architecture, and is one of the most impressive temple structures in South India.

5.The principle deity here is MEENAKSHI, a form of Goddess Parvati. The idol of the goddess is carved in emerald hued stone. The Meenakshi idol has 3 breasts as Meenakshi was born with three breasts and was blessed that the 3rd breast would vanish once meets right man of her life

In 1927, a young Spanish boy, aged 8, - who would become the 18th Duque de Alberquerque - sat in a cinema watching a newsreel of the Grand National.
In that moment, an impossible dream was born.
Born on the 15 December 1918, the boy - Beltran de Osorio y Diez de Rivera

- was so enchanted that he resolved one day win to the great race himself.
Aged 33, the Duke - having ridden in French steeplechases - made his Grand National debut in 1952, putting up ten pound overweight on his own eight-year-old Brown Jack lll (Pic), trained by Peter Cazalet.

The tall Spaniard fell at the sixth, sustaining cracked ribs and concussion

His second attempt came eleven years later aboard the Irish-bred Jonjo (named after its joint owners John O'Hagen and Joe Thompson).
Together the 44-year-old Duke and the 13-year-old Jonjo completed the

first circuit safely enough and were well up with the leaders when being unluckily brought down at the 21st.
In 1965 the Duke took a bad fall from Groomsman at Valentine's and was taken to Walton General Hospital with a broken leg

His ride in 1966 was on the doubtful stayer

L'Empereur who had to pulled up at the 26th

He was back again in 1973, pulling Nereo up at the Canal Turn. He finished 8th on the same horse the following year.

Yet another bad fall a week before the 1975 National resulted in yet another broken leg, ruling him out of the race,

@tribelaw Hi, Germany 🇩🇪 here again.
[Thread.]
In the 1970's West Germany suffered from severe series of domestic terrorism.
The Rote Armee Fraktion RAF.
Their attacks on capitalism, targeted Bankers, Politicians, Embassies. To finance, they were committing robbery, killing police.
... /1

October 20, 1977, former chancellor Helmut Schmidt held a speech on the responsibility of the democracy to protect his citizens, as also had been outlined by the German Supreme Court.
He said :
... /2

"The Federal Constitutional Court did in the early Morning hours of October 16 on behalf of ours People recognized for right: Articles 1 and 2 of ours Of the Basic Law oblige the state to to protect life. This duty to protect is full.
.../3

She commands the state to protect itself and to put it in front of this life in a promoting way; this means above all, it also protects against unlawful attacks by Preserving the pages of others.
... /4

Have at this commandment all state organs, depending on their particular Tasks, align.
All state organs!
... /5