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/
9/x HF stress recently increased and Vanna still on vacay, as we have discussed it makes sense that the zoo keepers were ripe for a disaster. That said, if the zoo keepers can restore order, this is very positive for the LT health of the market. As it has just been a 2 week
10/x Correction in time. & another upside move from this base could serve for a real thrust higher in the WoF Fortune ratings. Vanna paired w/ slowly improving Spring seasonality & continued NDX countertrend strength post earnings (for the reasons I have previously tweeted) could
11/x piece together a relief rally into 2/15-17. W/ the curve now in backwardation, calendar call spreads are still the play. Continue to pair them w/ skew & convexity funded w/ local IVol for tail protection, aware that if it rolls over the animals could spill into the streets.
12/x until we see 2 closed blow the 1 stddev down of the 20 day this will be a dip K will try and buy and w/VRP at 💯%ile, I will be writing index calls against the tail hedges as well. Remember the best trades are almost always the hardest. Stick to your rules.
13/13 Stay Disciplined to YOUR process, NO emotion will serve you best @ this juncture. It’s a ZOO out there...Good luck!🍀

More from Cem Karsan 🥐

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


2/x by both HF & Retail, but ultimately these moves are no match for our fair lady’s charming flows during this window, & should continue to support this market through 12/16 w/ qrtrly Vixperation & the Fed upon us....As I highlighted Fri, the minor correction in price/time that

3/x we got down to the 20 day, w/precise technical support at that level, paired w/ increasingly positive Dark Pool (DIX) demand was a textbook buy signal, given the timing...Despite all of this, the real story is not these positive flows nearly as much as the continued reflexive

4/x IVol compression...This is the holiday gift that keeps on giving. Along w/ continued targeted short Vol, massive calendar expansion & dispersion opportunities continue to print $ with VRP >94th % of occurrences & post 1/8 Vol still at a floor... This $ train doesn’t show any

5/x sign of stopping yet, as I expect Ivol oversupply should continue to be the dominant force through at least 12/16 & once we get through 12/21 without incident, likely beyond...W/ lots of imbedded potential energy still in the VRP to fuel more vanna/charm flows in the month to
1/x As we’ve been calling for since Nov, today we finally got our 2 ‘Georgia Peaches’🍑 precisely on schedule, as we’ve called for since Aug, & the underlying rotation has confirmed now for months, this matters. This is a historic turning point. It matters not only https://t.co/BFxKGrI1Oo


2/x for this year, but for the economic trajectory of America & likely the macroeconomic regime of the developed world for the coming decade. That said, contrary to popular belief, the market does not move based on news in the short term if the positioning doesn’t allow it to.

3/x & our old friend Gary the 🦍 & his sidekick Vanna are positioned to have this market pinned through 1/11. So, as explained ad nauseam, the election news, though fundamentally important, won’t matter to the index itself in the ST. As predicted, the largest moves from the GA

4/x runoff INITIALLY have come from factor rotation. This should continue to be the case, as the street is oversupplied IVol & the index is pinned. This not only allows for idiosyncratic risk moves in constituents, but it actually FORCES extreme noncorrelation & rotation, as we

5/x have witnessed now for the past 2 days. This Vol compression will be increasingly difficult to break free from until 1/11-1/15, but the window of weakness is coming...soon the final hedges from the ‘election hump’ in Nov will expire with the Jan monthly options. Once the

More from Society

I’ll address every nonsense argument and lie used to defend the suicidal gender ideology Thats in vogue today:

3:45 - “So what if you don’t have gametes?”

It’s called a birth defect. You’re still male or female.


~5:00 *nonsense trying to say the sexes of seahorses could be swapped coz male carry the eggs*

male doesn’t produce eggs, he produces the sperm. He’s still the male. If I impregnated a chick then carried the amniotic sac in a backpack ‘til the baby was done I’ll still be male🤦‍♂️

5:10 - we could say there’s 4 sexes of fruit fly cause there’s 3 producers of different sized sperm

No. They’re still producing sperm. They’re males. This is idiotic. Is this whole video like this? (Probably. 99% likely. Abandon hope.)

~6:10 - hermaphroditism and sequential hermaphroditism exists therefore....

No. Some animals being hermaphrodites, which is meaningless w/o the existence of binary sex to contrast it to, still doesn’t make gender ideology or transgenderism valid.

Intersex ≠ transgenderism 🙄

6:20 - bilateral gynandromorphism is a disorder in some species (not in humans). Has nothing to do w/ “gender” or transgenderism.

Ova-testes in humans are also a disorder, usually found in those w/ the karyotype disorders that you ppl also try to appropriate (extra X’s/Y’s).

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1/“What would need to be true for you to….X”

Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?

A thread, co-written by @deanmbrody:


2/ First, “X” could be lots of things. Examples: What would need to be true for you to

- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal

3/ Normally, we aren’t that direct. Example from startup/VC land:

Founders leave VC meetings thinking that every VC will invest, but they rarely do.

Worse over, the founders don’t know what they need to do in order to be fundable.

4/ So why should you ask the magic Q?

To get clarity.

You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.

It also holds them (mentally) accountable once the thing they need becomes true.

5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”

Multiple responses to this question are likely to deliver a positive result.