I am off to London for the day.
I had a great time in Tel Aviv as always. Last night Yoni and Ronen the brother co-founders of Etoro took me for dinner to HaSalon. I highy recommend it and if you do go make sure you do the late sitting. By 10 o’clock, mostly young Isareli’s are dancing on the tables. I did 10 minutes of stand-up in Hebrew (I kid).
It is nice to have so many good friends now in Tel Aviv. I have been coming regularly since 2010. Ronen was telling me that the population of Israel is up 500 percent in the last 50 years which seems unsustainable. Tel Aviv real estate makes the Hampton’s look cheap.
Good luck getting a Taxi, Gett or Uber by the way …
I snapped this picture of the boys which I really like…
Ronen recently stepped away from full time at Etoro to get back to his roots of building and launching products and companies at Team 8. I am excited for him.
Back in the real world of crashing markets…we have crashing markets.
In mid August, the markets were testing the 200-day moving average and while I hoped for a battle by the bulls, we have seen a massacre. My post is here.
As of today’s close we are now below the 200 day moving average for the longest period of time since 2008 and the ‘Great Financial Crisis’.
As I have been writing here for months, bad things generally happen below the 200-day moving averages and now the weight of evidence and dread continues to pile up on stocks.
I am sitting on my hands.