Ukraine expectations vs. reality 🦁

MICHAEL BURRY WARNS OF ‘EARNINGS FRAUD’ FROM EXTENDED ASSET LIVES “The Big Short” investor Michael Burry accused major tech firms of inflating profits by extending the useful life of equipment. He said hyperscalers’ Nvidia-driven spending should shorten, not lengthen, depreciation cycles, estimating $176 billion in understated depreciation from 2026–2028. Burry claims Oracle and Meta could overstate earnings by 27% and 21%, respectively, with more details coming Nov. 25.

This is absolutely phenomenal writing by @olddog100ua. Its also the best explanation for the rationale behind the defense of Pokrovsk beyond all the pundits takes. Its also explains something people often forget: time in war is currency and momentum is sometimes fleeting. Pokrovsk may eventually fall, but its objective will be more than achieved: make Russians pay dearly for every town. As a dear friend says: “what is the rationale? Its where we can kill more, faster and easier. “ cepa.org/article/pokrovsk-wh…

It’s a Hindenburg orgy !

The market isn’t impressed with Trump’s case in front of SCOTUS so far today

The percentage of S&P 500 stocks at 52-week lows is the most since April. It’s odd this is the case as the major indices are right near all-time highs.

BREAKING 🚨: Coca-Cola $KO had Negative Free Cash Flows this year for the first time this century 🤯👀 (data through Q2 2025)

"At the current rate of transit, Russian gas exports to the EU could reach approximately 18 billion cubic meters by the end of the year, the lowest volume since the early 1970s, when Soviet General Secretary Leonid Brezhnev negotiated the first supply contract with Austria." moscowtimes.ru/2025/11/03/ek…

Americans have paid $195 billion in tariffs during Fiscal Year 2025. US TARIFFS = A SALES TAX ON AMERICANS.

We have reached peak "NATO expansion propaganda". Jeffrey Sachs claims he was told by someone he didn't meet that there was a broken promise to a person who says it wasn't made.

MarketWatch: Almost 9% of the S&P 500 saw a 52-week low on Wednesday, sending an “ominous signal” as it’s tough for bull markets to persist when stocks are falling in that way, according to Jonathan Krinsky, BTIG's chief market technician. “Since 1990 there have only been four distinct periods” when the S&P 500 had more 52-week lows than highs and the percentage of 52-week lows exceeded 8% while the index was within 3% of a 52-week high, Krinsky said in a note emailed Thursday. Those dates were December 1999, November 2007, July 2015 and November 2021, he said, noting that “most market participants will recall those dates as essentially marking peaks before significant drawdowns.” “While we don't know if this period will follow suit, we do think the market is entirely too complacent about downside risk,” Krinsky said. The S&P 500, which finished Wednesday nearly at its record peak, fell on Thursday.

Fun WaPo story on Maduro seeking Russian help in the current standoff with the U.S.. "You sold us crap before. Please send more." archive.ph/TBwWV

Useful if only to bat away the claims that we don't have enough. edition.cnn.com/2025/10/31/p…

UNITED STATES HAS CHOSEN TO STRIKE VENEZUELA'S MILITARY TARGETS, ACCORDING TO MIAMI HERALD

Well why, you may well inquire, is the former number two in the Russian Orthodox Church at a shooting range at FSB headquarters in Moscow, firing a standard-issue Makarov pistol? Does this perhaps suggest a connection between the Russian security services and the ROC -- something Ukraine has long alleged? (Hilarion later became the number one in the ROC in Hungary, thanks to his ties to Viktor Orban, who only wants peace in Europe.)

Lots of confirming data points alluding to a likely top coming in from multiple angles and vantage points $ES $NQ

China will promise to invest 10 trillion.. 🎃

Equal Weight S&P 500 now underperforming the Market Cap Weighted S&P 500 $SPX by the largest margin in more than 22 years 🚨🤯👀

Look where Ukraine killed him. They can get to almost anyone, anywhere in one of the most surveilled states on the planet. The front is global now. Ukraine’s campaign of eliminating war criminals will carry on for years.

-1K TICKs rolling in hard after the presser points to a weak $ES close as its indicative of negative breadth acceleration and perhaps index level sales by CTAs

TICK sliding hard after the presser.. likely a weak close