The Market Structure Map
May 28, 2025
Who is John Galt? The libertarians know. But who is John Law? I would’ve gotten along with him as he liked probabilities. At one point by his own estimation – reducing its veracity – he was the richest man who ever lived. A Scotsman and...
April 30, 2025
Can stocks fall if nobody sells? For a sneak peek at my thesis, here’s my segment with Brian Sullivan and Kelly Evans on CNBC Power Lunch Monday Apr 28. You may be thinking: Is it a trick question? There’s a buyer for every seller. I...
April 23, 2025
It was never about Jay Powell. It was options. As the market reeled Monday, the Talking Heads declaimed that Donald Trump was responsible: He was going to fire Jay Powell. We said before the market faceplanted and recovered that it would likely fall Monday with...
April 9, 2025
As one of our team said, “The Quast Vacation Put strikes again.” Wearing puka shells and vacation pants, we split March 25 for the trade winds of St Vincent and the Grenadines to sail the following seas. And the stock market crumbled. You can see...
March 19, 2025
I’ll give you a high statistical probability. The stock market this week won’t reflect “fundamentals.” Quast, you’re obsessed with your own view that the market is quantitative. No, it’s what we call “context.” The cadence and calendar of the market: Yet whatever the stock market...
October 2, 2024
On Buffalo Pass, autumn blazes. In fact, there are a lot of things ablaze, with another earnings season looming. Will you report results the same old way, public companies? One thing blazing are Chinese stocks, which posted the best week and day since 2008. I’m...